Description of Award Sample Clauses

Description of Award. The arbitral award rendered by the arbitration panel shall be in writing and shall set forth in reasonable detail the facts of the dispute and the reasons for the arbitration panel's decision.
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
Description of Award. As of the Grant Date, the Company has granted to the Grantee an Award of Restricted Stock Units under the Plan effectively reflecting the right to earn payment of an amount of Shares for each calendar month (or partial calendar month), commencing with September 2022 and ending with December 2022, during which the Grantee serves without interruption in 2022 as Interim President and Chief Executive Officer of the Company. The Award described in this Agreement is collectively referred to as the “2022 Interim CEO Restricted Stock Units Award.” The 2022 Interim CEO Restricted Stock Units Award was granted in accordance with, and subject to, all the terms, conditions and restrictions of the Plan, which is hereby incorporated by reference in its entirety. The Grantee irrevocably agrees to, and accepts, the terms, conditions and restrictions of the Plan and this Agreement on the Grantee’s own behalf and on behalf of any heirs, successors and assigns.
Sample 1
Description of Award. As of the Grant Date (but only if the Grantee is still Interim President and Chief Executive Officer of the Company as of the Grant Date), the Company has granted to the Grantee an Award of Restricted Stock Units under the Plan effectively reflecting the right to earn payment of an amount of Shares for each calendar month (or partial calendar month), commencing with January 2023 and ending with June 2023, during which the Grantee serves without interruption in 2023 as Interim President and Chief Executive Officer of the Company. The Award described in this Agreement is collectively referred to as the “January 2023 Interim CEO Restricted Stock Units Award.” The January 2023 Interim CEO Restricted Stock Units Award was granted in accordance with, and subject to, all the terms, conditions and restrictions of the Plan, which is hereby incorporated by reference in its entirety. The Grantee irrevocably agrees to, and accepts, the terms, conditions and restrictions of the Plan and this Agreement on the Grantee’s own behalf and on behalf of any heirs, successors and assigns.
Sample 1
Description of Award. The Board’s primary objective in designing the CEO Performance Award is to help Helbiz grow and achieve its mission, which would facilitate the creation of significant stockholder value. The CEO Performance Award is being executed contemporaneously with this Agreement and the following is a description of the award. If there is any conflict between the following description and the signed CEO Performance Award the terms of the EO Performance Award shall govern. There are three main reasons why the Board recommends that stockholders approve the award. The CEO Performance Award: 1.Strengthens Xx. Xxxxxxx’x incentives and further aligns his interests with those of Helbiz’s other stockholders; 2.Ensures Xx. Xxxxxxx’x continued leadership of Helbiz over the long-term; and 3.Serves as a catalyst for the achievement of Helbiz’s strategic and financial objectives, which include growing Helbiz into one of the most valuable and successful companies in the mobility sector. The CEO Performance Award consists of a potential performance award of 600,000 of the total outstanding shares as of the date of this Agreement. The CEO Performance Award consists of 20 equal tranches of options or warrants to purchase 30,000 of the Company’s shares per tranche. The number of shares in each tranche is equivalent to 30,000 of the common shares of Helbiz common stock outstanding as of the date of this Agreement. The CEO Performance Award is comprised of performance-based nonqualified stock options or warrants. Xx. Xxxxxxx will receive compensation from the CEO Performance Award only to the extent that Helbiz achieves the applicable performance milestones. In the event that all of the milestones set forth in the CEO Performance Award are met the award will renew with mutually agreeable new milestones for an equivalent percentage of the Company’s stock. Each of the 20 vesting tranches of the CEO Performance Award will vest upon certification by the Board that the market capitalization milestone for such tranche has been met. There are 20 market capitalization milestones, each one requiring an incremental increase in Helbiz’s market capitalization. Sustained market capitalization is required for each market capitalization milestone to be met.
Sample 1

Related to Description of Award

  • Application of Award Lender may hold such awards or proceeds and apply such awards or proceeds, after the deduction of Lender’s expenses incurred in the collection of such amounts (including Attorneys’ Fees and Costs) at Lender’s option, to the Restoration or repair of the Mortgaged Property or to the payment of the Indebtedness, with the balance, if any, to Borrower. Unless Lender otherwise agrees in writing, any application of any awards or proceeds to the Indebtedness will not extend or postpone the due date of any monthly installments referred to in the Note or Article IV of this Loan Agreement, or change the amount of such installments. Borrower agrees to execute such further evidence of assignment of any Condemnation awards or proceeds as Lender may require.

  • Terms of Award The following terms used in this Agreement shall have the meanings set forth in this paragraph 1:

  • Execution of Award Agreement Please acknowledge your acceptance of the terms of this Agreement by electronically signing this Agreement.

  • Allocation of Award The total Award made with respect to the Leased Property or for loss of rent, or for Lessor’s loss of business beyond the Term, shall be solely the property of and payable to Lessor. Any Award made for loss of Lessee’s business during the remaining Term, if any, for the taking of Lessee’s Personal Property, or for removal and relocation expenses of Lessee in any such proceedings shall be the sole property of and payable to Lessee. In any Condemnation proceedings Lessor and Lessee shall each seek its Award in conformity herewith, at its respective expense; provided, however, Lessee shall not initiate, prosecute or acquiesce in any proceedings that may result in a diminution of any Award payable to Lessor.

  • Termination of Award In the event that the Employee shall forfeit all or a portion of the restricted stock units subject to the Award, the Employee shall promptly return this Agreement to the Company for cancellation. Such cancellation shall be effective regardless of whether the Employee returns this Agreement.

  • Payment of Award The Performance Shares that may become payable pursuant to this Award Agreement shall be based upon the highest performance determined in accordance with the provisions of Section 4 or, in the event of a Change in Control prior to the Final Measurement Date, based on performance at the level determined in accordance with the provisions of Section 3.4. In other words, the attainment of multiple performance measures under this Award Agreement will not result in the payment of a cumulative number of Performance Shares for each performance measure achieved. Payment of the Award, to the extent earned, shall be made as follows:

  • Grant of Award The Grantee is hereby granted a Restricted Stock Award under the Plan (this “Award”), subject to the terms and conditions hereinafter set forth, with respect to a maximum ________________________________________________(__________) restricted shares of Common Stock. Restricted shares of Common Stock covered by this Award (the “Performance-Based Shares”) shall be represented by a stock certificate registered in the Grantee’s name, or by uncertificated shares designated for the Grantee in book-entry form on the records of the Company’s transfer agent subject to the restrictions set forth in this Agreement. Any stock certificate issued shall bear the following or a similar legend: “The transferability of this certificate and the shares of Common Stock represented hereby are subject to the terms, conditions and restrictions (including forfeiture) contained in the Pier 1 Imports, Inc. 2006 Stock Incentive Plan, as restated and amended, and the Restricted Stock Award Agreement entered into between the registered owner and Pier 1 Imports, Inc. A copy of such plan and agreement is on file in the offices of Pier 1 Imports, Inc., 000 Xxxx 0 Xxxxx, Xxxx Xxxxx, Xxxxx 00000.” Any Common Stock certificates or book-entry uncertificated shares evidencing such shares shall be held in custody by the Company or, if specified by the Committee, with a third party custodian or trustee, until the restrictions thereon shall have lapsed, and, as a condition of this Award, the Grantee shall deliver a stock power, duly endorsed in blank, relating to any certificated restricted shares of Common Stock covered by this Award.

  • Nature of Award In accepting the award, Employee acknowledges that:

  • Grant of Awards In accordance with the Plan, and effective as of the date of this Agreement (the “Date of Grant”), the Company hereby grants to the Participant, subject to the terms and conditions of the Plan and this Agreement, an award of _____________________ (______) shares of Common Stock (the “Restricted Stock Award”).

  • Payment of Awards The payment of the Award shall be made in shares of Common Stock. The payment of an Award shall be made within 70 days following the end of the Restricted Period.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!