Third Award Sample Clauses
The "Third Award" clause establishes the procedure for issuing a third and final decision or award in a dispute resolution process, typically arbitration. In practice, this clause outlines the circumstances under which a third award may be rendered, such as when previous awards have not fully resolved all issues or when additional matters arise after initial decisions. Its core function is to ensure that all outstanding disputes are conclusively addressed, providing finality and closure to the parties involved.
Third Award. Vacations will be awarded and published by March 26.
Third Award. Stock Options to purchase 200,000 Shares (the “$20 Performance Options”) will vest on the close of the twentieth consecutive trading day on the New York Stock Exchange on which the closing price of Common Stock is at least $20.00 over the Reference Price.
Third Award. We will recommend that the Board grant you a third award, in the form of performance-vesting RSUs (the “Performance RSUs”), covering up to 18,000 shares of our Common Stock if and only if the proposed exchange offer occurs in 2012. The Performance RSUs will be subject to the Company’s standard form of award agreement under the 2006 Plan. The date of grant will be the closing date of the proposed exchange offer, or, if no such offer closes in 2012, the third award of Performance RSUs will not be granted. Should the Performance RSUs be granted they will vest in full, subject to your continued service, only if and when either (1) the Company’s Common Stock has closed for a period of 30 consecutive trading days at a price equal to or in excess of the greater of (i) $1.00 USD and (ii) the fair market value of our Common Stock on the date the Initial Option is granted or (2) the Company closes a Change of Control where the price per share to the Company’s stockholders in the deal is equal to or in excess of the greater of (i) $1.00 USD and (ii) the fair market value of our Common Stock on the date the Initial Option is granted.