Performance Incentive Equity Sample Clauses
The Performance Incentive Equity clause establishes a mechanism for granting equity interests to individuals or entities based on the achievement of specific performance targets. Typically, this clause outlines the conditions under which equity, such as stock options or restricted shares, will vest or be awarded, often tied to metrics like revenue growth, project milestones, or profitability. By directly linking equity rewards to measurable outcomes, the clause motivates recipients to meet or exceed performance goals, aligning their interests with those of the company and promoting overall organizational success.
Performance Incentive Equity. In addition to the Initial Option Grant, the Executive shall be eligible to receive additional stock option equity grants (the “Additional Grants”) at the end of each year, assuming individual and Company bonus targets are achieved, as outlined in the MIP. The Additional Grants, which shall be within the allotted management incentive pool of options, will be awarded at the discretion of the Board and based on performance of the Executive and their team for each year of operations. The Additional Grants shall be subject to the terms and conditions of the Plan, or any successor plan thereto, which may be modified or revoked at any time in the sole discretion of the Company, and applicable award agreements thereunder.
Performance Incentive Equity. On the Effective Date, the Company shall grant to the Executive an option to purchase 100,000 shares of its common stock (the “Option”), which shall vest, subject to the Executive’s continued status as an Employee, Director, or Consultant, and become exercisable as to 1/3rd of the Shares on the first anniversary of the Effective Date (rounded down to the next whole number of Shares). Thereafter, subject to the Executive’s continued status as an Employee, Director, or Consultant through each vesting date, the Option shall vest and become exercisable as to 1/36th of the Shares subject thereto on the 13th month anniversary of the Effective Date and each monthly anniversary thereafter (rounded down to the next whole number of Shares), such that the Option shall be fully vested and exercisable on the 3rd anniversary of the Grant Date.