Right to Receive Shares Sample Clauses
The "Right to Receive Shares" clause grants a party the entitlement to obtain shares in a company under specified conditions. Typically, this right may arise upon the occurrence of certain events, such as the achievement of performance milestones, the conversion of debt to equity, or as part of an employee compensation plan. By clearly outlining when and how shares are to be issued, this clause ensures transparency and predictability in the allocation of company ownership, thereby reducing disputes and aligning incentives among stakeholders.
Right to Receive Shares. Subject to the terms of the Plan and the conditions set forth in this Agreement, the Restricted Stock Units awarded subject to this Agreement shall vest as follows:
Right to Receive Shares. The number of RSUs granted under this Agreement (the “Target Number of RSUs”) represents a target number of Shares that may be earned, based upon satisfaction of the target performance goals as set forth in Appendix A (“Performance Goals”). The actual number of RSUs earned and vested may be greater or less than the Target Number of RSUs, or even zero, and will be determined based on the Company’s actual performance level achieved in accordance with Appendix A. Each earned and vested RSU represents the right to receive one share of Class A Common Stock of the Company (a “Share”) on the applicable settlement date. Unless and until the RSUs have vested, the Employee will have no right to payment of any such RSUs.
Right to Receive Shares. At the first regular meeting of the Board following January 1, 2009, but not later than March 31, 2009, the Company shall grant Executive $1.5 million (subject to reduction pursuant to Section 4(c)(iii)(2)) in shares of the Company’s common stock (the “Shares”) pursuant to the Equity Plan, subject to the following restrictions and provisions:
(1) The number of Shares shall be determined by dividing the award amount by the average per share closing price as reported by the NASDAQ Stock Market for the 30 days preceding the date of grant, rounded up to the nearest whole share.
(2) The Company shall deliver the full $1.5 million in Shares if the Average Payout Percentage (defined below) is at 100% or greater. If the Average Payout Percentage is less than 100%, the award amount shall be determined by multiplying the actual payout percentage times $1.5 million. Executive will forfeit any payout under this Section 4(c)(iii) if the Average Payout Percentage is less than 50%. The “Average Payout Percentage” shall be determined by comparing the Company’s annual return on committed capital (“ROCC”) against the average annual ROCC of the companies in the S&P Mid Cap Index and the Company’s annual growth in net operating profit after taxes (“NOPAT”) against the average annual growth in NOPAT of the companies in the S&P Mid Cap Index, in each case, for each of the calendar years 2006, 2007, 2008. If the Company’s ROCC and NOPAT growth for such calendar year are at the 50th percentile for the same measures for the other companies in the S&P Mid Cap Index, the annual percentage for such calendar year shall be 100% (the “Annual Percentage”). If either of these measures are at less than or at greater than the 50% percentile for the same measure for the other companies in the S&P Mid Cap Index, the Annual Percentage shall be proportionately increased or reduced on the following weighted basis to determine the Annual Percentage: The calculation for each calendar year shall be weighted 70% on the ROCC comparison and 30% on the NOPAT growth comparison. Such Annual Percentages shall then be averaged to determine the final Average Payout Percentage. The parties acknowledge that the calculations for ROCC and NOPAT growth are intended to be made consistently with the calculations that the Company will make under the LTIP. If all of the data on the companies that comprise the S&P Mid Cap Index are not available, the Company may use the available data to compute the Average Payout Pe...
Right to Receive Shares. On the termination of the Unanimous Shareholder Agreement, each Deposit Receipt shall entitle the registered holder thereof, or his executors, administrators, legal personal representatives or successors, or his or their attorney duly appointed by an instrument in writing in form and execution satisfactory to the Depositary, as the case maybe, to certificates representing the number of Shares represented thereby on surrender of such Deposit Receipt, duly endorsed with signature guaranteed by a Canadian chartered bank, at the principal office of the Depositary in the City of Toronto.
Right to Receive Shares. Each RSU represents the right to receive one Share if such RSU vests, as determined in accordance with this Agreement.
Right to Receive Shares. Each PSU represents the right to receive one Share if such PSU vests, as determined in accordance with this Agreement.