Retention Grant definition

Retention Grant. On the Effective Date, you will receive an equity grant with a fair value equal to $2,000,000, the value of which will be equally delivered in RSUs and PSUs (the “Retention Grant”). Subject to your continued employment on each vesting date: the time‐based RSUs in the Retention Grant will vest in equal parts on December 1, 2017 and December 1, 2018; and the PSUs in the Retention Grant will be eligible to vest in equal parts on February 3, 2018 and February 2, 2019, based on the level of the Company’s performance achieved in fiscal years 2017 and 2018 against earnings growth measures established by the Compensation Committee not later than the first anniversary of the grant date. The actual number of RSUs and PSUs granted as your Retention Grant shall be determined by dividing $2,000,000 by the closing price of the Company’s common stock on the grant date. REIMBURSEMENT OF MOVING EXPENSES: During employment, you will be reimbursed by the Company for all reasonable moving expenses incurred in connection with the relocation of your permanent residence to the Philadelphia metropolitan area in accordance with the Company’s reimbursement policies in effect from time to time. The Company will reimburse you for the reasonable hotel expenses, coach airfare from Minneapolis, Minnesota, meals and transportation incurred by your wife and children for purposes of making three (3) house-hunting trips to the Philadelphia, PA area.
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Retention Grant means the Initial Retention Grant or a Performance-Earned Annual Retention Grant.
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Examples of Retention Grant in a sentence

  • CITY and ADMINISTRATOR are parties to that certain Amended and Restated Agreement for Administration of the City of Fresno Housing Retention Grant Program dated December 14, 2020 (the Agreement).

  • Supplemental invoices must be submitted in the format and schedule established by HHSC in writing during the Contract period that Personnel Retention Grant services are authorized.

  • The Grantee may not provide Personnel Retention Grant funded activities until HHSC has provided written approval of the project plan.

  • Upon a Withdrawal prior to the seventh anniversary of the Retention Grant Date, all unvested Retention Units of the Limited Partner and his Related Trusts shall be reallocated, as otherwise set forth in Section 8.3(a)(ii) of the Limited Partnership Agreement.

  • The Partnership shall conditionally issue to the Limited Partner 2,623,674 Class D Common Units (the “Retention Units”) pursuant to and subject to the Plan on the Retention Grant Date.

  • Your rights under the Performance Share Retention Grant following the termination of your employment shall be governed by such Performance Share Retention Grant Agreement, rather than by the terms of paragraph 13 ("Termination of Employment").

  • The Partnership shall conditionally issue to the Limited Partner 12,000,000 Class D Common Units (the “Retention Bonus Units”) pursuant to and subject to the Plan on the Retention Grant Date.

  • Upon issuance, the Retention Units shall be designated as “Original Common Units” of the Limited Partner (for purposes of the Limited Partnership Agreement) by the General Partner and the rights, duties and obligations of the Limited Partner with respect to the Retention Units under the Limited Partnership Agreement shall, except to the extent modified by the terms of this Agreement, be the same as those applicable thereunder to the Common Units he owns immediately prior to the Retention Grant Date.

  • The Retention Grant shall vest in full upon the consummation of a Change in Control (as defined in the Employment Agreement), subject to the Executive maintaining a continuous service relationship with the Company at such time.

  • Subject to your execution of this Agreement and Board approval, and if you remain actively employed by the Company through the 2023 Milestone Date, you shall be eligible to receive restricted stock units on the 2023 Milestone Date (the “2023 Retention Grant” and, together with the 2022 Retention Grant, the “Retention Grants”) .