Employment Inducement Award Sample Clauses

Employment Inducement Award. This Award is intended to be an “employment inducement grant” in accordance with NASDAQ Listing Rule 5635(c)(4) and consequently is intended to be exempt from the NASDAQ rules regarding shareholder approval of equity compensation plans. This Agreement and the terms and conditions of the Award shall be interpreted in accordance with and consistent with such exemption. The Company shall cause the Class A Shares issuable in respect of the SARs (defined below) to be registered under the Securities Act of 1933.
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Employment Inducement Award. The Company shall grant the Executive under the Equity Plan as of the Effective Date a Restricted Stock Award (“Restricted Stock”) equal to 150,000 shares of the Company’s common stock subject to the following terms and conditions: (i) If, for the third and fourth fiscal quarters of the Company’s 2008 Fiscal Year, considered together as one period (the “Second Half of Fiscal 2008”), or for any one of the four whole Fiscal Years commencing on or after February 3, 2008 during the Original Employment Term, the Company shall record earnings per share (“Earnings per Share”) growth of greater than the Applicable Annual Target as compared to the same fiscal period from the immediately preceding Fiscal Year, then 20% of the Restricted Stock shall become vested as of the first business day following the issuance of the Company’s financial statement for such period, provided the Executive is then employed by the Company. If the Earnings per Share growth requirement is not met for any such period, all of the shares of the Restricted Stock eligible for vesting for that period shall vest on the first business day following the issuance of the Company’s financial statement for any subsequent Fiscal Year during the Original Employment Term if the cumulative compounded average Earnings per Share growth from the Second Half of Fiscal 2008 through such subsequent Fiscal Year is more than the Applicable Cumulative Target for such subsequent Fiscal Year. The “Applicable Annual Target” for each of the Second Half of Fiscal 2008 and the first and second whole Fiscal Years that commences on or after February 3, 2008 is a growth in Earnings per Share of 15% or more as compared to the same fiscal period from the immediately preceding Fiscal Year. The “Applicable Cumulative Target” for each of the Second Half of Fiscal 2008 and the first and second whole Fiscal Years that commences on or after February 3, 2008 is a 15% rate of cumulative compounded average Earnings per Share growth. For the avoidance of doubt, the Applicable Cumulative Target for the first whole fiscal year commencing on February 3, 2008 shall be calculated by multiplying the sum of (A) the Company’s actual Earnings per Share for the first and second fiscal quarters of the Company’s 2008 Fiscal Year and (B) the Applicable Annual Target of Earnings per Share for the Second Half of Fiscal 2008, by 1.
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Employment Inducement Award. Flexsteel Industries, Inc., a Minnesota Corporation (the “Company”), hereby grants to Kxxxx X. Xxxxxxxxx a Restricted Stock Unit Award (the “Award”). The Grant date is July 1, 2012. The Restricted Stock Units represent the right to receive ten thousand (10,000) shares of common stock of the Company (the “Shares”) subject to the terms and conditions set forth in this Restricted Stock Unit Award Agreement (this “Agreement”).
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Employment Inducement Award. This Option is an employment inducement award made in accordance with Rule 303A.08 of the New York Stock Exchange Listed Company Manual and is not granted under any stock incentive plan adopted by the Company. Notwithstanding the preceding sentence, the Option shall be construed as if the Option had been granted under the Fluor Corporation 2020 Performance Incentive Plan (the “Plan”) in accordance with and consistent with, and shall be treated as subject to, all of the terms and conditions of the Plan, including any terms, rules or determinations made by the Committee pursuant to its administrative authority under the Plan, and such further terms as are set forth in the Plan that are applicable to awards thereunder, including without limitation provisions on adjustment of awards, non-transferability, satisfaction of tax requirements and compliance with other laws. The Option is not intended to be an "incentive stock option" within the meaning of that term under Code Section 422.
Sample 1
Employment Inducement Award. In consideration of the Executive’s commencement of employment with the Company, the Company will award and pay to the Executive an award of 6,667 Restricted Stock (the “RSUs”). Full vesting will occur upon the one year anniversary of commencement of employment of Executive with Company.
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Employment Inducement Award. Pursuant to Section 1.2(d) of the Employment Agreement, the Company awarded Executive 50,000 shares of time restricted stock. Executive acknowledges and agrees that all such restrictions were removed and the shares became fully vested as of October 18, 2014, and, therefore, no further vesting is required under Section 2.3 of the Employment Agreement.
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Employment Inducement Award. This RSU Award is an employment inducement award made in accordance with Rule 303A.08 of the New York Stock Exchange Listed Company Manual and is not granted under any stock incentive plan adopted by the Company. Notwithstanding the preceding sentence, this RSU Award shall be construed as if the RSU Award had been granted under the Fluor Corporation 2020 Performance Incentive Plan (the "Plan") in accordance with and consistent with, and shall be treated as subject to, all of the terms and conditions of the Plan, including any terms, rules or determinations made by the Committee pursuant to its administrative authority under the Plan, and such further terms as are set forth in the Plan that are applicable to awards thereunder, including without limitation provisions on adjustment of awards, non-transferability, satisfaction of tax requirements and compliance with other laws.
Sample 1
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Employment Inducement Award. The Stock Units are intended to constitute an “employment inducement award” under NASDAQ Rule 5635(c)(4) that is exempt from the requirements of stockholder approval of equity compensation plans under NASDAQ Rule 5635(c)(4). This Agreement and the terms and conditions of the Stock Units will be interpreted consistent with such intent.
Sample 1
Employment Inducement Award. (i) As an inducement to accept the Company’s offer of employment, on the Commencement Date the Company shall grant to the Executive PSU’s issued under the 2009 Plan equal to a number of shares of Common Stock with a Fair Market Value on the Commencement Date of One Million, Five Hundred Thousand Dollars ($1,500,000) (the “Employment Inducement Award”). The number of PSU’s to be issued shall be determined by dividing $1,500,000 by the Fair Market Value of the Company’s Common Stock on the date of grant. The PSU’s issued under the Employment Inducement Award shall be subject to the terms and conditions of the 2009 Plan and a Performance Stock Unit Award Agreement, substantially in the form annexed hereto as Exhibit B (the “Employment Inducement Award Agreement”) and which Employment Inducement Award Agreement shall provide for a performance metric of relative total shareholder return (“TSR”) over a three year performance period (“Performance Period”) measured against a comparator group or industry index selected by the Compensation Committee. To receive these PSU’s, Executive would have to be employed during the entire Performance Period and neither Executive nor the Company would have given notice of the termination of Executive’s employment. The PSU’s issued under the Employment Inducement Award shall “cliff” vest at the end of the Performance Period and shall be paid within thirty (30) days following the last day of the Performance Period. Notwithstanding the foregoing, if Executive’s employment with the Company under this Agreement is terminated by the Company without Cause or by the Executive for Good Reason, Executive shall remain eligible to receive the pro rata number of PSU’s, based on the percentage of the Performance Period during which he was employed, provided the performance metric is met on such date, based on the comparative performance criteria set forth in this Section 4(e) if the date of termination had been the last date of the Performance Period, such pro rata number of PSU’s to vest at the end of the Performance Period (and be paid within thirty (30) days following the last day of the Performance Period), provided Executive continues to be in compliance with Section 6 of this Agreement. (ii) Earn-out would be based on the Company’s relative TSR performance as follows: • TSR less than 35th percentile – full forfeiture • TSR at 35th percentile – 25% vesting • TSR at 50th percentile – 50% vesting • TSR at 75th percentile or higher – 100% v...
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Related to Employment Inducement Award

  • Termination of Employment and Severance Benefits The Executive’s employment hereunder shall terminate under the following circumstances:

  • Re-employment Rights (1) Re-employment of Faculty Members on layoff status will be administered by the College in accordance with the then-applicable provisions of the Education Code. (2) Faculty Members on layoff who wish to be re-employed shall keep Human Resources apprised in writing of their current mailing addresses and telephone numbers, and of any changes in their qualifications. (3) When actual vacancies occur in any Faculty Service Area, the District shall notify, in seniority order, the laid-off Faculty Member(s) in such Faculty Service Area. This notice shall be sent by certified mail to the Faculty Member's current mailing address on file with Human Resources forty-five (45) days before the contemplated first day of re- employment of the Faculty Member or immediately upon the District learning of such vacancy if within forty-five (45) days of the course/assignment beginning date. The notified Faculty member shall notify the District in writing of his/her acceptance or rejection within ten (10) days of mailing by the District. Failure to do so shall mean the Faculty Member has waived his/her reappointment right to the vacancy stated in the notice from the District. Such Faculty Member shall retain the Faculty Member's seniority position on that Faculty Service Area list for the period of time provided by the Education Code. (4) As to any Faculty Member who is re-employed, the period of absence shall be treated as a leave of absence and shall not be considered as a break in the continuity of service, and such Faculty Member shall retain all rights to contract or regular status, as the case may be, in accordance with the applicable provision of the Education Code, including the requirement of four (4) years' active service for eligibility to move from a contract position to a regular position. (5) All partially or completely laid-off Faculty Members, upon any partial reinstatement, shall be paid the pro-rata salary equivalent to their step and column placement on the permanent salary schedule at the time of their layoff.

  • Outside Employment Employees may engage in other employment outside of their State working hours so long as the outside employment does not involve a conflict of interest with their State employment. Whenever it appears that any such outside employment might constitute a conflict of interest, the employee is expected to consult with his/her appointing authority or other appropriate agency representative prior to engaging in such outside employment. Employees of agencies where there are established procedures concerning outside employment for the purpose of insuring compliance with specific statutory restrictions on outside employment are expected to comply with such procedures.

  • Continued Employment The Option granted hereunder shall confer no right on Optionee to continue in the employ of the Company or any Subsidiary, or limit in any respect the right of the Company or any Subsidiary (in the absence of a specific agreement to the contrary) to terminate Optionee's employment at any time.

  • Condition of Employment The Employee acknowledges that his/her employment and the continuance of that employment with the Company is contingent upon his/her agreement to sign and adhere to the provisions of this Agreement. The Employee further acknowledges that the nature of the Company’s business is such that protection of its proprietary and confidential information is critical to its survival and success.

  • OBLIGATIONS SURVIVE TERMINATION OF EMPLOYMENT Executive agrees that any and all of Executive’s obligations under this Agreement, including but not limited to Exhibits B and C, shall survive the termination of employment and the termination of this Agreement.

  • Termination of Employment Agreement As of the Effective Date, the Employment Agreement hereby is terminated in its entirety and shall no longer have any force or effect.

  • Employment Rights Nothing expressed or implied in this Agreement will create any right or duty on the part of the Company or the Executive to have the Executive remain in the employment of the Company or any Subsidiary prior to or following any Change in Control.

  • 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.

  • Employment Equity The Employer and the Union agree with employment equity programs which will assist visible minorities, persons with disabilities, First Nations people, and women in gaining entry into employment and which will provide opportunities for advancement.

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