Examples of Alternative Award in a sentence

Notwithstanding any other terms of this Plan, in the event of a Change of Control, unless the Administrator reasonably determines in good faith prior to the occurrence of a Change of Control that an Alternative Award has been granted to you with regard to a Performance Unit, your Performance Units will be valued at the Change of Control Price and be immediately due and payable in cash.
In the case of a Change in Control, the Option may be cancelled in exchange for a cash payment or Alternative Award as determined in accordance with the Plan.
Alternative: Award the contract to either a less qualified or more expensive firm.

More Definitions of Alternative Award

Alternative Award means an Award other than a Deferred Stock Unit Award.

Alternative Award means an Award granted in tandem with, either at the same or a later time as, another Award having substantially similar economic characteristics, the exercise of which would result in the cancellation of such other Award.

Alternative Award means the award or instrument resulting from Board determining reasonably and in good faith, prior to the occurrence of the Change in Control, that an Award shall be honored or assumed, or new rights substituted therefor following the Change in Control in whole or in part, provided that any Alternative Award must (i) give the Grantee who held the Award rights and terms substantially equivalent to or better than the rights and terms applicable under the Award immediately prior to the Change in Control, including an equal or better vesting schedule and, for Alternative Awards that are stock options, an identical or better method of payment of the exercise price thereof, (ii) have terms such that if a Grantee’s employment is terminated by the Company or its successor other than for Cause by the Grantee with Good Reason within two years following a Change in Control at a time when any portion of the Alternative Award is unvested, the unvested portion of such Alternative Award shall immediately vest in full.

Alternative Award shall have the same meaning as that term under the MetLife, Inc. 2005 Stock and Incentive Compensation Plan. Any such Alternative Award shall not accelerate the timing of payment or otherwise violate Code Section 409A.

Alternative Award has the meaning given in the Plan.

Alternative Award has the meaning given in Section 2(b).