special grant definition
Examples of special grant in a sentence
You hereby agree to accept as binding, conclusive and final all decisions or interpretations of the Compensation Committee of the Board of Directors or the Special Grant Committee designated by the Board of Directors upon any questions arising under this Restricted Stock Agreement.
The Special Grant will be scheduled to vest and be settled in accordance with the performance criteria and vesting schedule set forth on Exhibit B of the applicable Special Grant Award Agreement.
For purposes of this Agreement, “Award Agreement” will mean the form of award agreement entered into between Executive and the Company in connection with the Special Grant and Annual Awards.
In the event this Agreement is not executed by Executive and the Company by May 23, 2006, Executive will forfeit the Special Grant.
Notwithstanding the foregoing, this Special Grant was made contingent upon Executive and Company executing this Agreement by May 23, 2006.
You hereby agree to accept as binding, conclusive and final all decisions or interpretations of the Compensation Committee of the Board of Directors [or the Special Grant Committee designated by the Board of Directors] upon any questions arising under this Restricted Stock Agreement.
Further, in the case of a termination without Cause or for Good Reason in accordance with Section 3.3 below prior to the expiration of the Performance Period where not all of the One-Time PSU Special Grant have vested, then there shall be an additional 18 month vesting period extension (“Tail Period”).
During the Tail Period, Executive shall continue to be eligible to vest in the One-Time PSU Special Grant at the same performance measures except that the number of PSU’s delivered shall be reduced for the ratio of the number of days between termination and four years over four years plus 18-months.
The vesting schedule for the Special Grant conformed to the vesting schedule described in Section 3.3(c) of this Agreement and the Stock Agreement (as hereinafter defined).
The Special Grant shall vest in three equal installments on the first, second and third anniversaries of the Date of Special Grant.