LTIP Options definition
Examples of LTIP Options in a sentence
Irrespective of dates of part commissioning, the term of this Agreement shall be as set forth in Clause 3.1.
The LTIP Options shall vest in three (3) equal tranches over a period of three (3) years from the grant date and once vested will remain exercisable for a term not to exceed five (5) years from the grant date under the Equity Plan, subject in each case to the Employee’s continued active employment with the Company.
The per share exercise price of such LTIP Options will equal the Fair Market Value per Share on the grant date.
Except as set forth in this Agreement, all equity or equity-based awards shall be governed by the terms and conditions of the Equity Plan and applicable award agreement, including but not limited to the Sign-On Options, LTIP Options and LTIP RSUs.
The LTIP Options shall vest in three (3) equal tranches over a period of three (3) years from the grant date and once vested will remain exercisable for a term not to exceed five (5) years from the grant date under the Equity Plan.
The exercise price per share of any such Adjusted LTIP Option and the number of shares of Parent Common Stock relating to any such Adjusted LTIP Option shall be determined in a manner consistent with the requirements of Section 409A of the Code, and, in the case of Company LTIP Options that are intended to qualify as incentive stock options within the meaning of Section 422 of the Code, consistent with the requirements of Section 424 of the Code.
Any LTIP Options granted in 2025 and 2026 will be granted in accordance with the standard grant schedule for the Equity Plan.
So we knew conceptually that we had to separate the financial and HR first logically than physically, and we knew we had to separate all systems first logically and ultimately physically.
If, during the twelve (12) months immediately following the occurrence of a Change in Control, the Employee experiences a termination of employment under circumstances which would entitle him to severance under Section 6(b) of this Agreement, all then-unvested LTIP Options will vest and be cancelled in exchange for a cash payment equal to the aggregate spread (if any) with respect to such LTIP Options.
Vesting, exercise, cash cancellation and settlement under the Target Share Plans as described herein will be subject to the usual deductions for income taxes and national insurance and similar social security deductions or contributions, save that the Bonus LTIP Options will also be subject to the agreed deduction for employer’s National Insurance contributions.