Equity Grant/Vesting Sample Clauses
The Equity Grant/Vesting clause defines how and when an individual, such as an employee or contractor, receives ownership rights to company equity, typically in the form of shares or stock options. This clause outlines the total amount of equity granted and specifies a vesting schedule, which may include a waiting period (cliff) before any equity is earned and a gradual accrual of ownership over time, such as monthly or yearly increments. Its core function is to incentivize long-term commitment and performance by ensuring that recipients earn their equity only if they remain with the company for a specified period, thereby aligning interests and reducing the risk of early departures.
Equity Grant/Vesting. In consideration of Executive’s execution of, and continued compliance with, Paragraph 5(a) this Agreement, subject to Executive’s timely execution of standard agreements evidencing the equity grants in accordance with Company’s grant policies and procedures, on the Commencement Date, the Company will grant Executive, as inducement grants, long term incentive equity awards which shall consist of (i) market condition deferred stock awards of restricted stock units with a target share amount set using an issuance value of $85,000 which shall be similar to the terms and conditions of the market condition grants made by the Company in May 2019, with vesting linked to the achievement of a relative total shareholder return, of the Company’s Common Stock from the grant date to the earlier of (a) the anniversary of the grant date or (b) upon a change of control, and measured relative to the NASDAQ Biotechnology index and based on the 20-day trading average price before such date, (ii) $85,000 in non-qualified stock options, with an exercise price set in accordance with the applicable equity plan and to equal the fair market value as of the grant date, and which shall vest in four equal annual installments commencing one year from the grant date and continuing on the next three anniversaries of such date thereafter, and provided further in all cases such vesting shall, subject to the other terms and conditions of this Agreement, also be contingent on continued employment by the Company on such vesting dates.
Equity Grant/Vesting. In consideration of Executive’s execution of, and continued compliance with, this Agreement, subject to Executive’s timely execution of standard agreements evidencing the option grants in accordance with Company’s grant policies and procedures, on the grant date, which will be the eleventh trading day following the Company’s spin-off of Harvard Apparatus Regenerative Technology, Inc., the Company will grant Executive an option to acquire 150,000 shares of common stock of the Company, (which will be made as an inducement grant outside of the Company’s equity plan), which such option shall vest in four equal annual installments over four years after the grant date. The option will be a non-qualified stock option. The option will have an exercise price equal to the volume weighted average over the ten (10) trading day period preceding such date of grant. In the event the spin-off transaction referenced above does not close by November 1, 2013, the parties agree to discuss in good faith the timing of the award and/or alternatives to the award of the option, with the intent that any action would be intended to place Executive in an economic position at least as favorable to him as the option award. Notwithstanding any other provision of this Agreement, if Executive terminates employment with the Company before the option is granted (unless replaced by some alternative arrangement in accordance with the prior sentence in which case this sentence shall not be applicable), and under circumstances that would result in acceleration of the vesting of the option under this Agreement (had the option been granted), then the parties agree that, as part of Executive’s severance package, he will receive a lump sum cash payment on the Date of Termination in an amount equal to the Black-Scholes (or similar option valuation methodology) value of the option.
Equity Grant/Vesting. In consideration of Executive’s execution of, and continued compliance with, Paragraph 5(a) this Agreement, subject to Executive’s timely execution of standard agreements evidencing the equity grants in accordance with Company’s grant policies and procedures, on the Commencement Date, the Company will grant Executive (I) an equity award consisting of 500,000 time-based RSUs which shall vest in annually over three (3) years from the grant date, and such vesting shall, subject to the other terms and conditions of this Agreement, also be contingent on continued employment by the Company on the respective vesting dates, (II) an equity award consisting of 500,000 performance- based RSUs vesting based on a three year performance period with vesting based on the achievement of a relative total shareholder return of the Company’s Common Stock from the grant date compared to the relative performance of the ▇▇▇▇▇▇▇ 2000 over the three year period following the grant date (or any successor index, or comparable index in the event the ▇▇▇▇▇▇▇ 2000 or applicable successor no longer exists at the time of the applicable measurement), subject to the other terms and conditions of this Agreement and also contingent on continued employment by the Company on such vesting date. The Time-Based RSUs and Performance-Based RSUs shall be subject to the terms of the applicable grant documentation and any applicable equity award plan.
Equity Grant/Vesting. In consideration of Executive’s execution of, and continued compliance with, Paragraph 5(a) this Agreement, subject to Executive’s timely execution of standard agreements evidencing the equity grants in accordance with Company’s grant policies and procedures, on the Commencement Date, the Company will grant Executive (I) an equity award consisting of 243,072 deferred stock awards of restricted stock units which shall vest in full two years from the grant date, and such vesting shall, subject to the other terms and conditions of this Agreement (including without limitation Section 8 hereof), also be contingent on continued employment by the Company on the respective vesting date, (II) an equity award, which shall be issued in satisfaction of a guaranteed minimum portion of the Annual Bonus for fiscal 2019, consisting of 202,875 deferred stock awards of restricted stock units which shall fully one year from the grant date, and such vesting shall, subject to the other terms and conditions of this Agreement (including without limitation Section 8 hereof), also be contingent on continued employment by the Company on such vesting date, and (III) long term incentive equity awards which shall consist of (i) market condition deferred stock awards of restricted stock units with a target share amount of 418,360 which shall be similar to the terms and conditions of the market condition grants made by the Company in May 2019 (as modified in accordance with Section 8(d)(iii) hereof and this Section 10), with vesting linked to the achievement of a relative total shareholder return, of the Company’s Common Stock from the grant date to the earlier of (a) the anniversary of the grant date or (b) upon a change of control, and measured relative to the NASDAQ Biotechnology index and based on the 20-day trading average price before such date (or for a change of control, the per share purchase price in such change of control), and (ii) 418,360 in deferred stock awards of restricted stock units which shall vest in four equal annual installments commencing with January 1, 2020 and continuing on the next three January 1sts thereafter, and provided further in all cases such vesting shall, subject to the other terms and conditions of this Agreement (including without limitation Section 8 hereof), also be contingent on continued employment by the Company on such vesting dates. The grants described in clauses (I), (II) and (III)(ii) above are referred to herein as the “Initial RSU Gran...
Equity Grant/Vesting. If Executive’s employment is terminated by the Corporation and the Bank for any reason other than for Cause or if Executive terminates his employment for Good Reason, all of Executive’s then-outstanding Corporation equity incentive grants other than the One-Time Incentive Grant, whether granted before or after the Effective Date (“Grants”), shall, with respect to any portion of such Grants that has not yet vested, and notwithstanding any terms to the contrary in Executive’s grant agreements pertaining to such Grants (and, in the event of any conflict between the vesting terms of any existing or future grant agreement and the terms hereof, the terms hereof shall control), vest as follows (and for the avoidance of doubt, if Executive terminates his employment for any reason other than Good Reason, or if the Corporation or the Bank terminate Executive's employment for Cause, the following subsections (A) and (B) shall not apply):
(A) with respect to Grants the vesting of which is only subject to time based vesting requirements, the unvested portion of such Grants shall continue to vest after termination of Executive’s employment at the same time and in the same amounts as they would have vested had Executive’s employment not terminated, and so continued service shall not be a condition to the continued vesting of such Grants; and
(B) with respect to Grants the vesting of which is subject to any performance based vesting requirement, the unvested portion of such Grants shall continue to vest after termination of Executive’s employment, subject to all performance criteria having been met, at the same time as they would have vested had Executive’s employment not terminated, and so continued service shall not be a condition to the continued vesting of such Grants; provided, however, that the number of shares as to which Grants subject to performance based requirements shall vest shall be prorated based upon the number of days served by Executive during the period as to which the performance criteria is to be measured as a percentage of the entire period as to which such performance criteria is measured. For example, if Executive was awarded a 3 year performance based grant that vests in equal annual tranches, subject to an annual performance requirement being met, and Executive’s employment is terminated 4 months into the second annual performance period, assuming the performance criteria for that year was met, Executive would vest as to 33.3% of the total nu...
Equity Grant/Vesting. In consideration of Executive’s execution of, and continued compliance with, Paragraph 5(a) this Agreement, subject to Executive’s timely execution of standard agreements evidencing the equity grants in accordance with Company’s grant policies and procedures, on the Commencement Date, the Company will grant Executive equity awards having an aggregate value at issuance of $140,000, consisting of (i) $70,000 in non-qualified stock options, with an exercise price set in accordance with the applicable equity plan and to equal the fair market value as of the grant date, and which shall vest in four equal annual installments commencing with November 1, 2019 and continuing on the next three November 1sts thereafter, and (ii) $70,000 in deferred stock awards of restricted stock units which shall vest in four equal annual installments commencing with January 1, 2019 and continuing on the next three January 1sts thereafter.