2022 Award Sample Clauses

2022 Award. Pursuant to the terms of the Original Addendum, in lieu of your 2022 annual equity grant, you were granted a Cash Award of $300,000 on March 15, 2023 (the “2022 Award”). For the avoidance of doubt, the 2022 Award will continue to vest in three equal annual installments measured from the grant date, subject to your active employment in good standing through the applicable vesting date.
Sample 1
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2022 Award. Pursuant to the terms of the Original Amendment, in lieu of your 2022 annual equity grant, you were granted a Cash Award of $2,000,000 on March 15, 2023 (the “2022 Award”). The 2022 Award was originally scheduled to vest in three equal annual installments measured from the grant date, subject to your employment in through the applicable vesting date. This Amendment modifies the vesting schedule of the 2022 Award, such that (A) one-third of the award will vest on March 15, 2024, (B) one-third of the award will vest on December 31, 2024, and (C) one-third of the award will vest on December 31, 2025, in each case, subject to your employment through the applicable vesting date.
Sample 1
2022 Award. On July 15, 2022, subject to the Executive’s continued employment with the Firm through such date, the Executive shall be awarded a special retention award consisting of (a) a cash payment of $1,250,000 (the “Retention Cash Award”), and (b) an equity-based award in the form of profits interest participation rights or restricted stock units, as determined by Lazard in its discretion, with a grant date value (as determined by Lazard) of $2,500,000 (the “Retention Equity Award”). In the event that, following payment of the Retention Cash Award, the Executive resigns without Good Reason or is terminated for Cause on or prior to July 15, 2024, the Executive shall be obligated to repay the Retention Cash Award to Lazard in full within ten business days following the Executive’s notice of resignation or, in the case of termination for Cause, within ten business days following the Executive’s last day of employment. Subject to the Executive’s continued employment with the Firm through September 3, 2024, the Retention Equity Award shall vest fully on such date and shall be subject to the terms and conditions of the applicable award agreement which shall be in the Firm’s customary form (other than with respect to the vesting period but including with respect to treatment upon termination by the Firm without Cause or due to death or Disability) evidencing such grant and the applicable Lazard incentive compensation plan.
Sample 1

Related to 2022 Award

  • Equity Award The Executive will be eligible to receive equity awards, if any, at such times and on such terms and conditions as the Board shall, in its sole discretion, determine.

  • Incentive Award The three (3) year rolling average of earnings growth and Return On Equity (the "XXX") and determined as of December 31 of each plan year shall determine the Director's Incentive Award Percentage, in accordance with the attached Schedule A. The chart on Schedule A is specifically subject to change annually at the sole discretion of the Company's Board of Directors. The Incentive Award is calculated annually by taking the Director's Annual Fees for the Plan Year in which the XXX and Earnings Growth was calculated times the Incentive Award Percentage.

  • Performance Award You are hereby awarded, on the Grant Date, a Performance Award with a target value of [AMOUNT].

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share Award. 

  • Stock Option Award In the event of Employee’s involuntary Termination of Employment without Cause or Termination of Employment due to a resignation by Employee for Good Reason that, in either case, occurs on or before the second anniversary of a Change in Control, the Stock Option Award shall become exercisable immediately (whether or not previously exercisable) and shall remain exercisable for the three year period following such Termination of Employment. For this purpose, “Good Reason” has the same meaning determined by Employee’s written employment agreement in effect on the Grant Date. In the event there is no such agreement or definition, then Good Reason means the initial existence of one or more of the following conditions, arising without the consent of the Employee: (1) a material diminution in Employee’s base compensation; (2) a material diminution in Employee’s authority, duties, or responsibilities, so as to effectively cause Employee to no longer be performing the duties of his position; (3) a material diminution in the authority, duties, or responsibilities of the supervisor to whom Employee is required to report.

  • RSU Award An RSU Award shall be similar in nature to a Restricted Stock Award except that no shares of Stock are actually transferred to the Holder until a later date specified in the applicable Award Agreement. Each RSU shall have a value equal to the Fair Market Value of a share of Stock.

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

  • Performance Share Awards On the Performance Share Vesting Date next following the Executive's date of death, the number of Performance Shares that shall become Vested Performance Shares shall be determined by multiplying (a) that number of shares of Company Common Stock subject to the Performance Share Agreement that would have become Vested Performance Shares had no such termination occurred; provided, however, in no case shall the number of Performance Shares that become Vested Performance Shares exceed 100% of the Target Number of Performance Shares set forth in the Performance Share Agreement, by (b) the ratio of the number of full months of the Executive's employment with the Company during the Performance Period (as defined in the Performance Share Agreement) to the number of full months contained in the Performance Period. Vested Common Shares shall be issued in settlement of such Vested Performance Shares on the Settlement Date next following the Executive’s date of death.

  • Restricted Stock Unit Award The Grantee is hereby granted NUMBER OF SHARES restricted stock units (the "Restricted Stock Units"). Each Restricted Stock Unit represents the right to receive one share of the Company's Common Stock, $.001 par value (the "Stock"), subject to the terms and conditions of this Agreement and the Plan.

  • Performance Shares Each Performance Share is a bookkeeping entry that records the equivalent of one Share. Upon the vesting of the Performance Shares as provided in Section 2, the vested Performance Shares will be settled as provided in Section 3.

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