Equity Appreciation definition
Examples of Equity Appreciation in a sentence
If any Hurdle or Hurdles have not been achieved as of the tenth (10th) anniversary of the Grant Date, then on such tenth (10th) anniversary, the Performance-based Equity Appreciation Rights corresponding to such Hurdle or Hurdles shall expire.
Further, if so determined by the Board in its sole discretion, the Parent shall have the right to repurchase any Equity Appreciation Rights for fair market value at any time, including without limitation, any Equity Appreciation Rights that have been retained by the Participant following the termination of such Participant’s employment.
This Award Agreement (and the Equity Appreciation Rights awarded hereunder) shall not confer upon the Participant any right to continue in the employ of Altisource or interfere in any way with the right of Altisource to terminate the Participant’s employment at any time, and nothing contained herein shall be deemed a waiver or modification of any provision contained in any other agreement between the Participant and the Division, the Parent, their Subsidiaries or Affiliates.
Equity Appreciation Rights shall vest (“Vest”) subject to the terms of this Section and those of Section 4 below.
The Participant shall make an offer to have the Exercised Rights exchanged and redeemed only by delivering an Exercise Notice (substantially in the form attached as Exhibit A) (or other notification consistent with the Parent’s procedures in connection with an Electronic Exercise, as the case may be) to the Parent, and therein setting forth the Vested Equity Appreciation Rights offered to the Parent for exchange and redemption.
Upon any such forfeiture of Equity Appreciation Rights, the Participant shall cease to have any rights whatsoever under the Plan or this Award Agreement and shall thereupon not be entitled to receive any further payments of cash or other benefits pursuant thereto or hereto.
No right or interest to or in this Award Agreement, the Equity Appreciation Rights or any Share Equivalency Units awarded hereunder or any rights to payment or other benefit to the Participant shall be assignable by the Participant except by will or the laws of descent and distribution unless otherwise provided by law.
Participant has no rights as a holder of Equity Appreciation Rights or any shares or interests (or ASPS common stock) issued to Participant as a result of such action, inaction, or transaction.
Payment for each subscription for Units shall be in the form of a check made payable to "Lease Equity Appreciation Fund II, L.P. Escrow Account." Verification of the Subscription Proceeds by the Escrow Agent will be available via direct, online access, telecopier, or other electronic media as soon as practicable after receipt.
The Participant’s right to retain Equity Appreciation Rights following termination of employment under Section 4(b) is subject in all cases to the requirement that the Participant has been employed with Altisource for a period of at least two (2) years on the date of such termination in addition to satisfying the applicable requirements in the case of Retirement.