RSAP Clause Samples

RSAP. In the event of entitlement to a Severance Benefit, all forfeiture restrictions on all Company stock issued to the Executive under the Company’s RSAP shall lapse and all shares of restricted stock shall vest. All of the foregoing shares may be sold by the Executive free of any Company restrictions whatsoever (other than those imposed by federal and state securities laws).
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RSAP. Article II of the Change in Control Agreement is supplemented by adding a new Section at the end thereof to make provision for the RSAP, which was adopted after the execution of the Change in Control Agreement to read as follows: “In the event of entitlement to a Severance Benefit, all forfeiture restrictions on all restricted shares of Company stock granted to the Executive under the Company’s RSAP shall lapse on the 409A Payment Date and all shares of restricted Company stock shall vest on the 409A Payment Date. All of the foregoing previously unvested shares may be sold by the Executive free of any Company restrictions, whatsoever, but subject to applicable state and federal securities laws.”
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Related to RSAP

  • Equity Award The Executive will be eligible to receive equity awards, if any, at such times and on such terms and conditions as the Board shall, in its sole discretion, determine.

  • Incentive Plans During the Term of this Agreement, Executive shall be entitled to participate in all bonus, incentive compensation and performance based compensation plans, and other similar policies, practices, programs and arrangements of the Company, now in effect or as hereafter amended or established, on a basis that is commensurate with his position and no less favorable than those generally applicable or made available to other executives of the Company. The Executive's participation shall be in accordance with the terms and provisions of such plans and programs. Participation shall include, but not be limited to:

  • Long-Term Incentive Plans During the Employment Period, the Executive shall be eligible to participate in any long term incentive compensation plan maintained by the Company on the terms established from time to time by the Board or the Compensation Committee of the Board, as applicable.

  • Equity Awards You will be eligible to receive awards of stock options or other equity awards pursuant to any plans or arrangements the Company may have in effect from time to time. The Board or Committee, as applicable, will determine in its sole discretion whether you will be granted any such equity awards and the terms of any such award in accordance with the terms of any applicable plan or arrangement that may be in effect from time to time.

  • Equity Plans Executive shall be entitled to participate in any equity or other employee benefit plan that is generally available to senior executive officers, as distinguished from general management, of the Company. Except as otherwise provided in this Agreement, Executive’s participation in and benefits under any such plan shall be on the terms and subject to the conditions specified in the governing document of the particular plan.