Conditional Award definition
Examples of Conditional Award in a sentence
The foregoing Conditional Award is made subject to the terms and conditions hereinafter set forth.
If the Employee shall fail to make such tax payments as are required, the Company shall, to the extent permitted by law, have the right to deduct from any payment of any kind otherwise due to the Employee any federal, state or local income taxes of any kind required by law to be withheld with respect to the Stock subject to such Conditional Award.
The fair market value of the shares in each Conditional Award shall be deemed to be three (3%) percent of the closing price at which a share of Common Stock of the Company shall have been valued on the date of grant pursuant to Schedule 1, notwithstanding that the date of transfer of the Shares for purposes of election pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, my occur on a different or later date.
The Conditional Award set forth herein is made expressly subject to the terms and conditions of the Plan.
As used herein, the date of grant of the Conditional Award hereunder shall not necessarily constitute the date of transfer of the Shares for purposes of election pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, which my occur on a different or later date.