NVTS definition
Examples of NVTS in a sentence
Notwithstanding the foregoing, the Company and NVTS make no representations that the payments and benefits provided under this Agreement comply with Section 409A and in no event shall the Company or NVTS be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by you on account of non-compliance with Section 409A.
Further, you acknowledge that you will have an additional seven days from signing this Agreement to revoke consent to your release of claims under the ADEA by delivering notice of revocation to the general counsel of the Company and NVTS at the address above before the end of the seven-day period.
All amounts under this Section 6(a) will be subject to applicable wage and income tax withholdings and/or the sale to cover such taxes of settled shares, as applicable, and applicable Company and NVTS policies.
You agree to indemnify and hold the Company and NVTS harmless from any penalties, fines or legal costs incurred as a result of your failure to comply with HSR Act requirements or the obligations set forth in this provision.
The office of the NVTS General Counsel will continue to provide filing support and other assistance to you in connection with these reporting responsibilities.
Thereafter you will cease to be Chief Financial Officer and Treasurer of NVTS and will no longer be an executive officer of NVTS.
The RSUs will be governed by and subject to the Equity Plan, customary award agreements thereunder and applicable NVTS policies.
Your initial term of office as a Class I director will begin on the Appointment Date and continue until the date of the NVTS 2025 annual stockholders’ meeting (currently contemplated to be held in June 2025) and until your successor is elected and qualified or your earlier resignation or removal.
Accordingly, except as otherwise provided in this Agreement, you will not be entitled to any further compensation, monies, or other benefits from the Company or NVTS, in your capacity as an employee, including coverage under any benefit plans or programs sponsored by the Company or NVTS, after the Appointment Date.
In addition, subject to Sections 6(d), 10 and 13, the Company will grant you a number of RSUs equal to (x) $379,000 divided by (y) the volume-weighted average closing price per share of NVTS common stock over the 20 consecutive trading days immediately preceding the grant date.