Equity Awards and Incentive Compensation. During the Employment Period, Executive shall be eligible to participate in any equity-based incentive compensation plan or program adopted by the Company (such awards under such plan or program, the “Share Awards”) as the Compensation Committee or Board may from time to time determine. Share Awards shall be subject to applicable plan terms and conditions and any additional terms and conditions as determined by the Compensation Committee or the Board.
Equity Awards and Incentive Compensation. During the term of employment, the Executive shall be eligible to participate in any equity-based incentive compensation plan or program adopted by the Company (such awards under such plan or program, the “Share Awards”) as the Compensation Committee or Board may from time to time determine. Share Awards shall be subject to applicable plan terms and conditions. And any additional terms and conditions as determined by the Compensation Committee or the Board. On the Effective Date, the Board of Directors of Parent shall award and reserve for issuance 1,000,000 shares of common stock to Executive and enter into a Restricted Stock Award agreement (the “RS Agreement”) on the effective date. If this Agreement is renewed pursuant to Section 2, the Board of Directors of Parent shall grant the Executive shares of restricted stock in an amount equal to 0.5% of the fully diluted share count (including any and all outstanding common stock plus convertible securities, including convertible preferred shares, convertible debentures, granted stock options both vested and unvested, and warrants) on the effective date of every one (1) year renewal with further terms and conditions within the RS Agreement. Additionally, on the Effective Date, the Board of Directors of Parent shall enter into a Performance Restricted Share Unit Agreement (the “PSU Agreement”).
Equity Awards and Incentive Compensation. During the term of employment, the Executive shall be eligible to participate in any equity-based incentive compensation plan or program adopted by the Parent (such awards under such plan or program, the “Share Awards”) as the Compensation Committee or Board may from time to time determine. Share Awards shall be subject to applicable plan terms and conditions. And any additional terms and conditions as determined by the Compensation Committee or the Board. On the Effective Date, the Board of Directors of Parent shall award and reserve for issuance 10 year options to purchase 846,000 shares of common stock pursuant to the Parent’s Incentive Stock and Option Plan at the fair market value thereof (as determined by NASDAQ) to Executive.
Equity Awards and Incentive Compensation. During the term of employment, the Executive shall be eligible to participate in any equity-based incentive compensation plan or program adopted by the Company (such awards under such plan or program, the “Share Awards”) as the Compensation Committee or Board may from time to time determine. Share Awards shall be subject to applicable plan terms and conditions and in such amounts and subject to such terms and conditions as determined by the Compensation Committee or the Board. Effective as of the Effective Date, the Board of Directors of the Company shall, as a material inducement to the Executive’s commencement of employment, award 400,000 shares of common stock which shall vest (subject to compliance with the vesting conditions set forth in the Company’s 2024 Inducement Equity Incentive Plan and applicable award agreement) in eight equal semi-annual installments over a four-year period beginning on the six-month anniversary of the Effective Date.
Equity Awards and Incentive Compensation. During the Term, the Executive shall be eligible to participate in any equity-based incentive compensation plan or program adopted and offered by the PolarityTE, Inc., a Delaware corporation (the “Parent”), as the compensation committee of Parent may from time-to-time determine. Any share awards offered to Executive shall be subject to any then applicable plan terms, conditions, restrictions, and any additional terms and conditions as determined by the compensation committee of Parent at the time of award. On the Effective Date, Executive will be awarded an option to purchase 110,000 shares of Parent’s common stock pursuant to the Parent’s 2017 Equity Incentive Plan and the Nonqualified Stock Option Agreement, between the Company and Executive, to be executed concurrently with this Agreement (“Stock Option Agreement”), vesting as to forty (40%) percent of such purchased shares on the second anniversary of the Effective Date and the remaining sixty (60%) percent of such purchased shares on the third anniversary of the Effective Date or, if different or conflicting, vesting as governed by or permitted under the terms of the Parent’s 2017 Equity Incentive Plan (provided that on each vesting date Executive is not in default or breach of this Agreement, the APA, or an Ancillary Agreement and continues to be employed by the Company (unless the employment was terminated by the Executive for “Good Reason” (as defined below)) and continues to perform the duties, responsibilities, and services required of Executive as from time-to-time may be assigned by the Company). The price for the shares awarded under the Stock Option Agreement shall be the value of the Parent’s common stock as of the close of the NASDAQ exchange on the Effective Date.
Equity Awards and Incentive Compensation. During the term of employment, the Executive shall be eligible to participate in any equity-based incentive compensation plan or program adopted by either the Parent or the Company (such awards under such plan or program, the “Share Awards”) as the Compensation Committee or Board may from time to time determine. Share Awards shall be subject to applicable plan terms and conditions. And any additional terms and conditions as determined by the Compensation Committee or the Board. On the Effective Date, the Board of Directors of the Company shall award and reserve for issuance 10-year options to purchase 150,000 shares of common stock which shall vest (provided Employee is still employed by the Company) in thirty-six equal monthly installments beginning on the one-month anniversary of the Effective Date.
Equity Awards and Incentive Compensation. During the term of employment, the Executive shall be eligible to participate in any equity-based incentive compensation plan or program adopted by the Company (such awards under such plan or program, the “Share Awards”) as the Compensation Committee or Board may from time to time determine. Share Awards shall be subject to applicable plan terms and conditions and any additional terms and conditions as determined by the Compensation Committee or the Board. On the Effective Date, the Board of Directors of Company shall award and reserve for issuance options (the “Options”) to purchase (i) an aggregate of 940,193 shares of common stock, of which one third shall vest on the one (1) year anniversary of the Effective Date and the remaining two thirds shall vest in eight (8) subsequent equal quarterly installments following the one (1) year anniversary of the Effective Date and (ii) 1,096,892 shares of common stock, 50% of which vest upon (A) three (3) consecutive quarters with Positive Cash Flow and (B) 50% of which vest upon sale of the Company’s grandfathered earth station assets in the greater Miami, Florida area and related call sign license for gross proceeds equal to or greater than $15,000,000. The Options shall have an exercise price equal to the fair market value of the Company’s common stock on the Effective Date. The Executive and Company agree that the attainment of any financial targets associated with any Share Awards, including for the avoidance of doubt the Options, shall not be determined until following the completion of the Company’s annual audit and public announcement of such results and shall be paid promptly following the Company’s announcement of earnings and that all Share Awards, including for the avoidance of doubt the Options, not earned and vested on the date of termination shall be forfeited. “Positive Cash Flow” shall mean positive cash income after all ordinary cash items have been paid.
Equity Awards and Incentive Compensation. During the term of employment, the Executive shall be eligible to participate in any equity-based incentive compensation plan or program adopted by the Company (such awards under such plan or program, the “Share Awards”) as the Compensation Committee or Board may from time to time determine. Share Awards shall be subject to applicable plan terms and conditions and any additional terms and conditions as determined by the Compensation Committee or the Board. The attainment of any financial targets associated with any Share Awards shall not be determined until following the completion of the Company’s annual audit and public announcement of such results and shall be paid promptly following the Company’s announcement of earnings. All Share Awards not earned and vested on the date of termination shall be forfeited.
Equity Awards and Incentive Compensation. During the term of employment, the Executive shall be eligible to participate in any equity-based incentive compensation plan or program adopted by the Company (such awards under such plan or program, the “Share Awards”) as the Compensation Committee or Board may from time to time determine. Share Awards shall be subject to applicable plan terms and conditions. And any additional terms and conditions as determined by the Compensation Committee or the Board. On the Effective Date, the Board of Directors of Parent shall award and reserve for issuance 500,000 shares of common stock to Executive and enter into a Restricted Stock Award agreement (the “RS Agreement”) on the effective date.
Equity Awards and Incentive Compensation. During the term of employment, the Executive shall be eligible to participate in any equity-based incentive compensation plan or program adopted by the Parent (such awards under such plan or program, the “Share Awards”) as the Compensation Committee or Board may from time to time determine. Share Awards shall be subject to applicable plan terms and conditions, and any additional terms and conditions as determined by the Compensation Committee or the Board. On the Effective Date, the Board of Directors of Parent shall award and reserve for issuance 10 year options to purchase 100,000 shares of common stock, which shall vest (provided Executive is still employed by the Company) in twenty-four equal monthly installments beginning on the one-month anniversary of the Effective Date, and shall be issued pursuant to the Parent’s Incentive Stock and Option Plan (subject to shareholder approval) at the fair market value thereof (as determined by NASDAQ) to Executive.
