Eligibility for Equity Grants Sample Clauses
The 'Eligibility for Equity Grants' clause defines the criteria that individuals or entities must meet to qualify for receiving equity awards, such as stock options or restricted stock units, from a company. Typically, this clause outlines requirements like employment status, job position, or achievement of certain milestones, and may specify whether eligibility extends to employees, directors, consultants, or other stakeholders. Its core practical function is to clearly establish who can participate in the company's equity incentive programs, thereby ensuring transparency and consistency in the allocation of ownership interests.
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Eligibility for Equity Grants. During the Term of Agreement, Executive will not be eligible to receive periodic equity grants normally made to executives of the Company in the discretion of the Committee from time to time ("Periodic Equity Grants"); provided, that the Committee will have the authority, but not an obligation, to consider equity grants to Executive in special circumstances. In lieu of eligibility for Periodic Equity Grants, upon execution and delivery of this Agreement, Heska shall grant to Executive 15,000 shares of the Company's Common Stock (the "Third In-Lieu Award"), which shall be issued as shares of Restricted Stock in accordance with the Plan and pursuant to the terms and conditions of the Award Agreement, which shall provide that the Third In-Lieu Award will vest in full on the Termination Date.
Eligibility for Equity Grants. Employee will be eligible to participate in Employer’s equity participation programs to acquire options or equity incentive compensation units in the common stock of Employer, and, with respect to fiscal years 2009 and 2010, Employee will be provided with annual restricted stock unit awards under such programs with an annual grant date value of $5,000,000 (valuing such awards consistently with Employer’s practices for other senior executives). Employee’s participation in Employer’s equity participation programs will be subject to and/or in accordance with the following: (i) the additional terms contained in Employer’s equity grant documentation, which shall be no less favorable to Employee than the terms of similar annual awards made to Employer’s other senior officers; (ii) approval, if required, of Employer’s equity incentive plan by the Board and the shareholders of Employer; (iii) approval of the grants by the Committee; (iv) Employee’s execution of documents requested by Employer at the time of grant; (v) Employee’s continued employment through the grant date; (vi) the terms of the 2006 Omnibus Equity Incentive Compensation Plan or the successor thereto; and (vii) the generally applicable policies, procedures and practices that may be adopted from time to time by Employer in its sole discretion for granting such options or equity incentive compensation units; provided that subclauses (ii), (iii) and (vii) shall not be conditions to the grants with respect to 2009 and 2010 specified above.
Eligibility for Equity Grants. Employee will be eligible for annual equity grants by the SRA Board (in its sole discretion).