Specific Equity Awards Clause Samples
The 'Specific Equity Awards' clause defines the terms and conditions under which certain equity-based compensation, such as stock options or restricted stock units, are granted to an individual, typically an employee or executive. This clause outlines the type and amount of equity to be awarded, the vesting schedule, and any performance or service requirements that must be met to earn the awards. By clearly specifying these details, the clause ensures both parties understand the rights and obligations related to the equity awards, thereby reducing ambiguity and aligning incentives between the company and the recipient.
Specific Equity Awards. The awards described in this Section 3.3 will at all times be subject to the terms and conditions of the Company’s 2012 Equity and Incentive Compensation Plan (or its successor(s)), as in effect from time to time (collectively, the “Equity Plan”), including, without limitation, all authority and powers provided or reserved to such plan’s administrator thereunder, as well as the award agreements for such awards. As applicable, any awards vesting in installments shall be rounded up to the next nearest share amount divisible by the number of installments.