Eligibility and Type of Awards Sample Clauses

Eligibility and Type of Awards. Prior to the Effective Date, Ruthigen shall create and Oculus shall approve the Ruthigen, Inc. 2013 Employee, Director and Consultant Equity Incentive Plan, consistent with the general principles described herein and in the form attached as Exhibit A hereto (the “Equity Plan”). The Equity Plan provides for the grant to employees, directors and consultants of Ruthigen of Common Stock, stock options and other Stock-Based Awards (as defined in the Equity Plan) issuable for Common Stock; provided, however, restricted stock units (a form of Stock-Based Award under the Equity Plan, “RSUs”) and stock options shall be the only form of equity that may be granted pursuant to Section 3.3(b) below on the Post Closing Grant Date (as defined below) and stock options shall be the only form of equity that may be granted thereafter. All RSUs and stock options shall be subject to vesting schedules of not less than three years on a quarterly basis, vesting ratably for the applicable vesting period, unless otherwise set forth in this Section 3.3. In addition, at the sole discretion of the Ruthigen board of directors, the vesting of any awards granted under the Equity Plan may be accelerated (a) for any grantee upon a change of control, and (b) for any key employee if the key employee (X) is terminated by Ruthigen without “Cause” (as defined in the Equity Plan, except that for employment agreements entered into prior to the date of this Agreement, the definitions of “Cause” set forth in such employment agreements shall govern, or (Y) terminates his employment for “good reason,” (as defined in such grantee’s employment agreement), in each case (X) or (Y) other than due to the death or disability of the grantee. Ruthigen shall withhold (or cause to be withheld, as the case may be) from any amounts otherwise due or payable under or pursuant to any award granted under the Equity Plan such federal, state and local income, employment, or other taxes as shall be required to be withheld pursuant to any applicable law or regulation.
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Related to Eligibility and Type of Awards

  • Bonus Eligibility The Executive shall be eligible to receive an annual bonus payment in addition to Base Salary and other compensation for each year of the Executive’s employment (the “Bonus”) as determined by the Board from time to time.

  • Eligibility and Participation An individual is deemed an “Eligible Employee” and, therefore, eligible to participate in the Plan if he or she is a member of the Company’s Management Team at the time of such individual’s termination of employment with the Company, and such employment terminates due to an event which constitutes a Qualifying Termination.

  • S-3 Eligibility (i) At the time of filing the Registration Statement and (ii) at the time of the most recent amendment thereto for the purposes of complying with Section 10(a)(3) of the Securities Act (whether such amendment was by post-effective amendment, incorporated report filed pursuant to Section 13 or 15(d) of the Exchange Act or form of prospectus), the Company met the then applicable requirements for use of Form S-3 under the Securities Act, including compliance with General Instruction I.B.1 of Form S-3.

  • Eligibility It will notify the Issuer and the Servicer promptly if it no longer meets the eligibility requirements in Section 5.1.

  • Form SB-2 Eligibility The Company currently meets the “registrant eligibility” and transaction requirements set forth in the general instructions to Form SB-2 applicable to “resale” registrations on Form SB-2 and the Company shall file all reports required to be filed by the Company with the Commission in a timely manner.

  • Vesting Provisions The Options shall become exercisable in five equal installments on each of the first five anniversaries of the Grant Date, subject to the Employee’s continuous employment with Holding or any Subsidiary from the Grant Date to such anniversary.

  • Equity-Based Compensation The Executive shall retain all rights to any equity-based compensation awards to the extent set forth in the applicable plan and/or award agreement.

  • Eligibility Criteria Each of the Receivables which is to be pledged as collateral for a Series of Notes will satisfy the applicable Eligibility Criteria set forth in, or to be set forth in, Schedule I to the Series Supplement establishing such Series.

  • Eligibility; Disqualification There will at all times be a Trustee hereunder that is a corporation organized and doing business under the laws of the United States of America or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and that has a combined capital and surplus of at least $100.0 million as set forth in its most recent published annual report of condition. This Indenture will always have a Trustee who satisfies the requirements of TIA § 310(a)(1), (2) and (5). The Trustee is subject to TIA § 310(b).

  • Vesting Requirements The vesting of this Award (other than pursuant to accelerated vesting in certain circumstances as provided in Section 3 below or vesting pursuant to Section 6 below) shall be subject to the satisfaction of the conditions set forth in each of subsections A and B, as applicable, and, in each case, subsection C of this Section 2:

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