Employee Incentive Plan means that certain Reorganized Debtors’ employee incentive plan to be implemented on the Effective Date, the material terms of which shall, subject to approval by the Reorganized SandRidge Board: (a) include restricted stock and options providing for an aggregate of up to 10% pro forma ownership percentage of equity securities in Reorganized SandRidge, including, but not limited to, New Common Stock, and options and similar Securities, which equity securities will be protected from dilution from the Conversion Equity and the Rights Offering Equity, if any; and (b) otherwise contain terms and conditions generally consistent with those prevailing in the market that are in form and substance reasonably acceptable to the Reorganized Debtors and the Required Second Lien Creditors.
Employee Incentive Plan means any arrangement entered into by any member of the Group (other than Earn-out Payments) for the payment for services, acquisition or purchase of shares, warrants or other equity linked instruments of any kind (or options for any of the foregoing) or similar arrangements with any person (or any entity on behalf of or ultimately for the benefit of that person) primarily for the purpose of incentivising or compensating that person for services to any member of the Group in the nature of services of employment;
Employee Incentive Plan means the annual employee incentive plan as approved by the Board each year;
Examples of Employee Incentive Plan in a sentence
A summary of the Employee Incentive Plan is set out in Schedule 2.
Administration of the Employee Incentive PlanThe Employee Incentive Plan will be administered under the directions of the Board and the Board may determine procedures for the administration of the Employee Incentive Plan as it considers appropriate.12.
Resolution 7 – Approval to issue securities under Employee Incentive Scheme 7.1 Background The Board adopted the Employee Incentive Plan in October 2020 and it enables the Company to issue Options or Performance Rights to eligible participants being employees (full and part-time), directors, relevant contractors, casual employees and prospective parties in these capacities.
OperationThe operation of the Employee Incentive Plan is subject to the Listing Rules and, where necessary, the Corporations Act.
Options or Performance Rights may be issued under the Employee Incentive Plan to eligible participants.
More Definitions of Employee Incentive Plan
Employee Incentive Plan means the employee incentive plan which shall be implemented by the Reorganized Debtors, which will (a) reserve an aggregate of 10 percent of the New Seadrill Common Shares, on a fully diluted, fully distributed basis, for grants made from time to time to employees of the Reorganized Debtors; and (b) otherwise contain terms and conditions (including with respect to participants, allocation, structure, and timing of issuance) generally consistent with those prevailing in the market at the discretion of the board of directors of New Seadrill. Unless otherwise agreed between the Debtors and the Required Commitment Parties, such terms and conditions, including the amount and terms and condition of initial grants, shall be set forth in a term sheet for the Employee Incentive Plan, in form and substance reasonably satisfactory to the Debtors and the Required Commitment Parties and shall be included in the Plan Supplement. The Debtors shall consult with the Committee regarding the terms and conditions of the Employee Incentive Plan.
Employee Incentive Plan means the employee incentive plan that was implemented by Seadrill pursuant to the terms of the Plan which, among other things, reserves an aggregate of 10 percent of the Shares, on a fully diluted, fully distributed basis, for grants made from time to time to employees of Seadrill and its subsidiaries and otherwise contain terms and conditions (including with respect to participants, allocation, structure, and timing of issuance) generally consistent with those prevailing in the market at the discretion of the board of directors of Seadrill;
Employee Incentive Plan means the Company’s incentive plan or plans adopted for its directors, officers, employees and consultants and approved by the board of the Company.
Employee Incentive Plan means the Caravel Minerals Employee Incentive Plan approved by Shareholders at the 2019 annual general meeting, with the terms summarised in Schedule 1.
Employee Incentive Plan means the employee incentive plan which shall be implemented by the Reorganized Debtors, which will (a) reserve an aggregate of 10 percent of the New Seadrill Common Shares, on a fully diluted, fully distributed basis, for grants made from time to time to employees of the Reorganized Debtors; and
Employee Incentive Plan means the employee incentive plan adopted by WHB on 22 April
Employee Incentive Plan means employee incentive share scheme and/or any generally any scheme for providing incentives to employees and/or directors and/or consultants of the Company involving share options, allocations of shares, stock appreciation rights or other similar awards involving the equity of the Company;