Award Shares Clause Samples

The "Award Shares" clause defines the terms under which shares of a company are granted to an individual, typically as part of an equity compensation plan. This clause outlines the number of shares awarded, the conditions for receiving them, and any vesting schedule that applies, such as shares becoming fully owned after a certain period or upon meeting specific performance goals. Its core practical function is to formalize the process of granting equity, ensuring both parties understand the rights and obligations associated with the awarded shares, and to incentivize recipients to contribute to the company's success.
Award Shares. In the event JinKui achieves certain milestones as determined upon the mutual agreement of the Company, the Shareholders and Dragon, the Company may be awarded additional shares of DRGG common stock. In the event JinKui achieves Net Income of 600,000 Renminbi for the six month period ending December 31, 2006, the Company may receive 10 million additional shares of DRGG common stock. In the event JinKui achieves Net Income of 2,000,000 Renminbi for the six months ended June 30, 2007, the Company may receive 10 million additional shares of DRGG common stock.
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Award Shares shares of the Company’s common stock (“Common Stock”), $.01 par value per share.
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Award Shares. The term “Award Shares” has the meaning set forth for such term in the Value Sharing Equity Program.
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Award Shares shall vest or become nonforfeitable after the date your Service terminates for any reason. If your Service with the Company ceases for any reason, all Award Shares that are not then vested and nonforfeitable will be immediately forfeited by you and transferred to the Company upon such cessation for no consideration. Any accrued dividends attributable to such forfeited Award Shares shall also be forfeited if and when the Award Shares are forfeited.
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Award Shares. The Company awards to the Participant, on the terms and conditions hereinafter set forth, a stock bonus award with respect to 25,000 shares of the Common Stock of the Company (the "Award Shares").
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Award Shares. <<NUMBER>>
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Award Shares. As of the Award Date, the Company will issue in your name the number of shares of Common Stock determined by dividing the Aggregate Share Value (specified above) by the closing sales price of a share of Common Stock as reported on The Nasdaq Global Market on the business day immediately preceding the Award Date (your “Award Shares”). Unless vested, your Award Shares cannot be sold, assigned, transferred, pledged, hypothecated, mortgaged or otherwise disposed of, whether voluntarily or involuntarily, by operation of law or otherwise (the “Forfeiture Restrictions”). Award Shares are issued in book entry form and may be certificated only after the shares vest and the Forfeiture Restrictions lapse.
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Award Shares 
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Related to Award Shares

  • Restricted Stock Shares of restricted stock granted to the Executive by the Company which have not become vested as of the date of termination of the Executive’s employment, as provided in Section 7(b), shall immediately become vested on a pro rata basis upon the Release becoming irrevocable. The number of such additional shares of restricted stock that shall become vested as of the date of the Executive’s termination of employment shall be that number of additional shares that would have become vested through the date of such termination of employment at the rate(s) determined under the vesting schedule applicable to such shares had such vesting schedule provided for the accrual of vesting on a daily basis (based on a 365-day year). The pro rata amount of shares vesting through the date of non-renewal shall be calculated by multiplying the number of unvested shares scheduled to vest in each respective vesting year by the ratio of the number of days from the date of grant through the date of non-renewal, and the number of days from the date of grant through the original vesting date of the respective vesting tranche. Any shares of restricted stock remaining unvested after such pro rata acceleration of vesting shall automatically be reacquired by the Company in accordance with the provisions of the applicable restricted stock agreement, and the Executive shall have no further rights in such unvested portion of the restricted stock. In addition, the Company shall waive any reacquisition or repayment rights for dividends paid on restricted stock prior to Executive’s termination of employment.