Examples of Matching Award in a sentence
Under the Plan a Matching Award to acquire a specified number of shares for free may be made if the employee pledges a number of shares as investment shares which are then matched by the Company on either a 1:1 or 2:1 basis with the number of shares that could have been purchased with the pre-tax equivalent of the amount invested.
GRANT OF LTIP AWARDS AND LTIP MATCHING AWARDS 2.1 A LTIP Award and a LTIP Matching Award may only be granted to a Participant within the period of six weeks immediately following the date of Admission.
The maximum level of opportunity will be no greater than that set out in the Policy Table above (i.e. a maximum Matching Award of 250% of base salary), and would be pro-rated to reflect the length of the performance period which the individual was due to serve.Buy-out awards • The Committee will consider what buy-out awards (if any) are reasonably necessary to facilitate the recruitment of a new Executive Director in all circumstances.
Such maximum shall not exceed a number of Shares having a total Market Value at the Grant Date equal: (a)in the case of a 2001 LTIP Matching Award to the Shares the subject of the 2001 LTIP Award; (b)in the case of a 2002 LTIP Matching Award to the Shares the subject of the 2002 LTIP Award.
This is not viewed as retesting by the Remuneration Committee because if the performance condition is not satisfied after three years the Matching Award lapses.