Time-Based Grant Sample Clauses
A Time-Based Grant clause establishes that certain rights, benefits, or assets are provided to a party according to a predetermined schedule over a set period. For example, in employment or intellectual property agreements, this clause might specify that stock options, licenses, or other entitlements vest incrementally each month or year, rather than all at once. The core function of this clause is to incentivize ongoing participation or performance by ensuring that full benefits are only realized over time, thereby protecting the granting party from immediate or unearned claims.
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Time-Based Grant. The Company shall grant to Executive time-based restricted stock units (“RSUs”), valued based on the closing price of the Company’s Shares on the grant date equal to $666,666 which grant shall be subject to time-based vesting of 1/3 on June 1, 2022 (the “Initial Vesting Date”) and 1/3 on each of the first (1st) anniversary and the second (2nd) anniversary of the Initial Vesting Date, subject to Executive’s continued employment through such vesting dates (except as otherwise set forth in this Agreement), and the applicable form of award agreement.
Time-Based Grant. (i) The Company shall request that the Compensation Committee of Lions Gate (“CCLG”) authorize and grant Employee 212,500 restricted share units (“Time-Based Grant”) of Lions Gate Entertainment Corp. in accordance with the terms and conditions of the existing and/or future Employee Stock Plan (collectively, the “Plan”). Employee acknowledges that this Time-Based Grant of stock is subject to the approval of the CCLG. The award date (“Award Date”) shall be the date of the board meeting when the Time-Based Grant is approved.
Time-Based Grant. Subject to the completion of a 409A valuation and the resolution of the Board and shareholders of the Parent (the “Option Grant Conditions”), the Parent shall grant, from the shares available for grant pursuant to the Parent’s Share Option Plan (as amended, modified or restated from time to time, the “Share Incentive Plan”), to the Executive (so long as the Executive is employed as of the grant date), an option to purchase 378,539 ordinary shares of the Parent (the “First Grant”). The First Grant shall be an incentive stock option (ISO) to the maximum extent permitted by applicable tax laws. The First Grant shall vest and become exercisable as follows: 25% of the shares subject to the First Grant shall vest at the one year anniversary of the date of commencement of employment of the Executive and the remaining 75% of the shares subject to the First Grant shall vest quarterly over the next three years, provided that all vesting is conditioned on the Executive continuing to provide full-time services to the Company or the Parent as of the applicable vesting date (unless otherwise approved by the Board), and shall be subject to the additional acceleration set forth in Section 4.b. below.
Time-Based Grant. An option to purchase shares equal to 2.5% of the outstanding and issued equity of the Company on the Start Date (the “Time-Based Grant”). The Time-Based Grant will vest in equal quarterly installments over a 4-year period, with a 12-month cliff.
Time-Based Grant. An option to purchase 119,237 shares of the Company’s common stock (the “Time-Based Option”) pursuant and subject to the Plan and the stock option agreement attached hereto as Exhibit A. The Time-Based Option shall be an incentive stock option to the extent permissible under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), and will have an exercise price per share equal to the Fair Market Value (as defined in the Plan) of a share of common stock of the Company as of the date of grant pursuant to the terms of the Plan.
Time-Based Grant. Effective as of the date hereof, Parent shall grant to Employee (the “Time-Based Grant”) 262,500 restricted share units (the “Time-Based RSUs”) of Parent, in accordance with the terms and conditions of the Lions Gate Entertainment Corp. Restricted Share Unit Award Agreement being entered by Parent and Employee concurrently herewith.
Time-Based Grant. An option to purchase 70,000 shares of the Company’s common stock (the “Time-Based Option”) pursuant and subject to the Plan and a stock option agreement substantially in the form of stock option agreement for employees filed with the U.S. Securities and Exchange Commission. The Time-Based Option shall be a nonqualified stock option, and will have an exercise price per share equal to the Fair Market Value (as defined in the Plan) of a share of common stock of the Company as of the date of grant pursuant to the terms of the Plan. The Time-Based Option shall vest 25% on the first anniversary of the date of grant and 2.08333% monthly thereafter through the fourth anniversary of the date of grant.