Inducement Grants definition
Examples of Inducement Grants in a sentence
The Company has delivered or made available to Parent or Parent’s Representatives copies of all Stock Plans and Company Inducement Grants covering the Company Equity Awards outstanding as of the date of this Agreement and the forms of all equity award agreements evidencing such Company Equity Awards.
Prospective and newly hired employees of the Company are eligible to receive Inducement Grants in the form of options, stock appreciation rights, restricted stock, restricted stock units and other stock-based awards and commitments therefore (each an “Award”) under the Plan.
For the avoidance of doubt, the award agreements for the Inducement Grants provide for the claw-back and recovery of vested amounts due to accounting restatements, violations of WWE’s corporate policies or any breaches of the restrictive covenants contained in the award agreement, the terms of this Agreement, or of any other agreement between ▇▇▇▇ and WWE.
Parent has and will have as of the Effective Time, sufficient cash, available lines of credit or other sources of immediately available funds and sufficiently authorized but unissued shares of Parent Common Stock to enable it to pay the aggregate Merger Consideration, the HSH Repayment and the Cash Bonus Payments and make the Inducement Grants all in accordance with the terms of this Agreement.
The Inducement Grants shall be subject to the following vesting schedule: 25% fully vested on the Start Date and 25% to vest on each of the first, second and third anniversaries of the Effective Date.
The Inducement Grants will be granted pursuant to the inducement grant exception under Nasdaq Rule 5635(c)(4) and not pursuant to the Company’s Equity Incentive Plan or any other equity incentive plan of the Company, as an inducement that is material to Executive’s employment with the Company.
Pursuant to the Inducement Grant Plan, Employee Inducement Grants shall be issued to those employees listed on a schedule delivered to Parent and agreed upon by the Company and the Parent on and as of November 11, 2009, which Grants shall be made pursuant to inducement grant agreements in substantially the form attached hereto as Exhibit I-2.
The Inducement Grants shall have such other terms and conditions as set forth in separate agreements to be entered into by the Company and the Executive and as consistent with the terms of the Company’s 1999 Stock Incentive Plan.
The Inducement Grants shall be subject to approval by the Board and, if so approved, issued to Executive on the Effective Date (or the date of Board approval, if later).
For the avoidance of doubt, the award agreement for the Inducement Grants will provide for the claw-back and recovery of vested amounts due to accounting restatements, violations of WWE’s corporate policies or any breaches of the restrictive covenants contained in the award agreement, the terms of this Agreement, or of any other agreement between Khan and WWE.