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].

  • Cash Award Subject to Section 2 and provided that you are employed by the Company or one of its affiliates on each applicable payment date set forth below, the Company shall pay you the Cash Award at the following times: (i) one-third (1/3) of the Cash Award on the Closing Date, (ii) one-third (1/3) of the Cash Award on the first anniversary of the Closing Date and (iii) the remaining one-third (1/3) of the Cash Award on the second anniversary of the Closing Date.

  • 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 Within the 60-day period following the Start Date, Executive will receive an award of stock options to purchase Common Stock (the “Options”). The terms and conditions of the Options will be governed by Parent’s 2010 Equity Incentive Plan and the Stock Option Agreement in substantially the form attached hereto as Exhibit A. The number of shares covered by such Options shall equal 10,000. The Options shall have a per share exercise price equal to the fair market value per share of such Option on the date of grant, as determined by the Board.

  • 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.

  • Option Award The Company hereby awards Grantee an Option to purchase shares of Company common stock, par value $.01 per share (“Shares”), pursuant to this Agreement at an exercise price per Share of $XX.XX, subject to the terms and conditions set forth herein and in the Plan. The Option may not be exercised in whole or in part as of the Grant Date, and becomes exercisable only if and to the extent provided in the following paragraphs and otherwise subject to and in accordance with the Plan.

  • Annual Incentive Award During the Term of Employment, the Executive shall be eligible for an annual incentive award with payout opportunities that are commensurate with his position and duties, as determined by the Compensation Committee in its discretion. Commencing with the Effective Date of the initial Term of Employment, the Executive’s target annual incentive award opportunity will be equal to fifty percent (50%) of the Executive’s Base Salary. The Executive’s annual incentive award opportunities shall be based on Company and individual performance goals determined, and subject to change, by the Compensation Committee in its discretion. The Executive shall be paid his annual incentive award no later than other senior executives of the Company are paid their annual incentive award.

  • 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.

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