Common use of Retention Awards Clause in Contracts

Retention Awards. (i) As soon as practicable following the date hereof, Employee will be awarded 34,515 restricted stock units (the “Initial Retention RSU Grant”) which will be subject to the terms and conditions hereof and of the Company’s Restated 1996 Flexible Stock Incentive Plan and related form of restricted stock unit agreement, provided that to the extent that such Plan and/or agreement are inconsistent with this Agreement, this Agreement shall control unless the inconsistent provisions are more favorable to Employee in which case the provisions more favorable to Employee shall control. Except as provided under the accelerated vesting provisions applicable to Equity Awards set forth herein, the Initial Retention RSU Grant shall become fully vested on July 10, 2008, subject to Employee’s continued full-time employment by the Company on that date. Payment with respect to the Initial Retention RSU Grant shall be made in full no later than ten (10) business days after the date on which such Grant first becomes vested pursuant to the preceding sentence or pursuant to any applicable accelerated vesting provision under Section 5 or Section 6(b).

Appears in 1 contract

Samples: Employment Agreement (Infospace Inc)

AutoNDA by SimpleDocs

Retention Awards. (i) As soon as practicable following the date hereof, Employee will be awarded 34,515 160,424 restricted stock units (the “Initial Retention RSU Grant”) which will be subject to the terms and conditions hereof and of the Company’s Restated 1996 Flexible Stock Incentive Plan and related form of restricted stock unit agreement, provided that to the extent that such Plan and/or agreement are inconsistent with this Agreement, this Agreement shall control unless the inconsistent provisions are more favorable to Employee in which case the provisions more favorable to Employee shall control. Except as provided under the accelerated vesting provisions applicable to Equity Awards set forth herein, the Initial Retention RSU Grant shall become fully vested on July 10, 2008, subject to Employee’s continued full-time employment by the Company on that date. Payment with respect to the Initial Retention RSU Grant shall be made in full no later than ten (10) business days after the date on which such Grant first becomes vested pursuant to the preceding sentence or pursuant to any applicable accelerated vesting provision under Section 5 4(c), Section 6 or Section 6(b7(b).

Appears in 1 contract

Samples: Employment Agreement (Infospace Inc)

Retention Awards. (i) As soon as practicable following the date hereof, Employee will be awarded 34,515 25,886 restricted stock units (the “Initial Retention RSU Grant”) which will be subject to the terms and conditions hereof and of the Company’s Restated 1996 Flexible Stock Incentive Plan and related form of restricted stock unit agreement, provided that to the extent that such Plan and/or agreement are inconsistent with this Agreement, this Agreement shall control unless the inconsistent provisions are more favorable to Employee in which case the provisions more favorable to Employee shall control. Except as provided under the accelerated vesting provisions applicable to Equity Awards set forth herein, the Initial Retention RSU Grant shall become fully vested on July 10, 2008, subject to Employee’s continued full-time employment by the Company on that date. Payment with respect to the Initial Retention RSU Grant shall be made in full no later than ten (10) business days after the date on which such Grant first becomes vested pursuant to the preceding sentence or pursuant to any applicable accelerated vesting provision under Section 5 or Section 6(b).

Appears in 1 contract

Samples: Employment Agreement (Infospace Inc)

Retention Awards. (i) As soon as practicable following the date hereof, Employee will be awarded 34,515 69,030 restricted stock units (the “Initial Retention RSU Grant”) which will be subject to the terms and conditions hereof and of the Company’s Restated 1996 Flexible Stock Incentive Plan and related form of restricted stock unit agreement, provided that to the extent that such Plan and/or agreement are inconsistent with this Agreement, this Agreement shall control unless the inconsistent provisions are more favorable to Employee in which case the provisions more favorable to Employee shall control. Except as provided under the accelerated vesting provisions applicable to Equity Awards set forth herein, the Initial Retention RSU Grant shall become fully vested on July 10, 2008, subject to Employee’s continued full-time employment by the Company on that date. Payment with respect to the Initial Retention RSU Grant shall be made in full no later than ten (10) business days after the date on which such Grant first becomes vested pursuant to the preceding sentence or pursuant to any applicable accelerated vesting provision under Section 5 or Section 6(b).

Appears in 1 contract

Samples: Employment Agreement (Infospace Inc)

AutoNDA by SimpleDocs

Retention Awards. (i) As soon as practicable following the date hereof, Employee will be awarded 34,515 200,000 restricted stock units (the “Initial First Retention RSU Grant”) which will be subject to the terms and conditions hereof and of the Company’s Restated 1996 Flexible Stock Incentive Plan and related form of restricted stock unit agreement, provided that to the extent that such Plan and/or agreement are inconsistent with this Agreement, this Agreement shall control unless the inconsistent provisions are more favorable to Employee in which case the provisions more favorable to Employee shall control. Except as provided under the accelerated vesting provisions applicable to the Equity Awards Award set forth herein, the Initial First Retention RSU Grant shall become fully fifty percent (50%) vested on July 10December 31, 20082009, and shall become vested in an additional twenty five percent (25%) on each of June 30, 2010 and December 31, 2010, subject to Employee’s continued full-time employment by the Company on that datesuch dates. Payment with respect to the Initial First Retention RSU Grant shall be made in full no later than ten (10) business days after the date on which such Grant first any portion of the award becomes vested pursuant to the preceding sentence or pursuant to any applicable accelerated vesting provision under Section 5 4(c), Section 6 or Section 6(b7(b).

Appears in 1 contract

Samples: Employment Agreement (Infospace Inc)

Retention Awards. (i) As soon as practicable following the date hereof, Employee will be awarded 34,515 64,465 restricted stock units (the “Initial Retention RSU Grant”) which will be subject to the terms and conditions hereof and of the Company’s Restated 1996 Flexible Stock Incentive Plan and related form of restricted stock unit agreement, provided that to the extent that such Plan and/or agreement are inconsistent with this Agreement, this Agreement shall control unless the inconsistent provisions are more favorable to Employee in which case the provisions more favorable to Employee shall control. Except as provided under the accelerated vesting provisions applicable to Equity Awards set forth herein, the Initial Retention RSU Grant shall become fully vested on July 10, 2008, subject to Employee’s continued full-time employment by the Company on that date. Payment with respect to the Initial Retention RSU Grant shall be made in full no later than ten (10) business days after the date on which such Grant first becomes vested pursuant to the preceding sentence or pursuant to any applicable accelerated vesting provision under Section 5 or Section 6(b).

Appears in 1 contract

Samples: Employment Agreement (Infospace Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.