Equity Participation Sample Clauses

Equity Participation. In connection with Executive’s employment hereunder, Executive shall be entitled to participate in the Equity Incentive Plan, pursuant to the terms of the Equity Incentive Plan, an award agreement evidencing any award thereunder and such other documents Executive is required to execute pursuant to the terms of the Equity Incentive Plan (the Equity Incentive Plan, any award agreement(s), and such other documents, collectively, the “Equity Documents”). Executive’s equity participation shall be exclusively governed by the terms of the Equity Documents.

Equity Participation. This Warrant is issued in connection with the Debenture Purchase Agreement. It is intended that this Warrant constitute an equity participation under and pursuant to T.C.A. ss.▇▇-▇▇-▇▇▇, et. seq. and that equity participation be permitted under said statutes and not constitute interest on the Debenture. If under any circumstances whatsoever, fulfillment of any obligation of this Warrant, the Debenture Purchase Agreement, or any other agreement or document executed in connection with the Debenture Purchase Agreement, shall violate the lawful limit of any applicable usury statute or any other applicable law with regard to obligations of like character and amount, then the obligation to be fulfilled shall be reduced to such lawful limit, such that in no event shall there occur, under this Warrant, the Debenture Purchase Agreement, or any other document or instrument executed in connection with the Debenture Purchase Agreement, any violation of such lawful limit, but such obligation shall be fulfilled to the lawful limit. If any sum is collected in excess of the lawful limit, such excess shall be applied to reduce the principal amount of the Debenture.

Equity Participation. Pursuant to the Consultant Services Agreement, 600,000 shares of restricted common stock of the Company (the "INITIAL STOCK") have been issued to Employee, subject to the graduated repayment provisions set forth below. The Employee agrees to comply strictly with all legal requirements regarding the stock, including those related to distribution of the stock and restrictions associated with the stock.

Equity Participation. On the Closing Date, subject to the terms and conditions hereof and on the basis of the representations and warranties set forth herein, the Owner Participant agrees to participate in the payment of the Total Equipment Cost for the Units delivered on the Closing Date by making an equity investment in the beneficial ownership of such Units in the amount equal to the product of the Total Equipment Cost for such Units delivered on the Closing Date and the percentage (not less than 20%) set forth opposite the Owner Participant's name in Schedule 2 (the "Owner Participant's Commitment"). The aggregate amount of the Owner Participant's Commitment plus the aggregate amount of Transaction Costs payable by the Owner Participant shall not exceed the sum of (x) the Owner Participant's Commitment and (y) 3.00% of the Total Equipment Cost. The Owner Participant's Commitment shall be paid to the Indenture Trustee to be held (but not as part of the Indenture Estate) and applied on behalf of the Owner Trustee toward payment of the Total Equipment Cost as provided in Section 2.3.

Equity Participation a) The Company shall, upon effective date of this Agreement, grant to the Executive one million (1,000,000) shares of the Company’s Common Stock. The 1,000,000 shares shall vest in accordance with the provisions of a separate Stock Agreement which shall be entered into between the Executive and the Company on or about the date hereof and which shall provide for vesting in equal monthly installments over a three year term (1/36th of the grant vesting each month) with accelerated vesting upon (i) a Change of Control (as defined below), (ii) termination of the Executive by the Company without Cause (as defined below), or (iii) the cessation of the Executive’s employment with the Company for Good Reason (as defined below). No portion of the stock or rights granted hereunder may be sold, transferred, assigned, pledged or otherwise encumbered or disposed of by the Executive until such portion of the stock becomes vested. With respect to vested shares, the Executive shall not have any right to receive a cash out or liquidation of such shares from the Company, unless specifically agreed to in writing by the Company, in its sole discretion. b) The Executive shall be eligible to participate in the Company’s 2007 Stock Plan (the “Plan”). The Executive shall, upon effective date of this Agreement, be granted options to acquire 1,000,000 shares of Common Stock, $0.001 par value, of the Company pursuant to the Plan. Such options shall vest and become exercisable in accordance with the provisions of a separate Stock Option Agreement which shall be entered into between the Executive and the Company on or about the date hereof and which shall provide (a) that the options are intended to be nonqualified stock options, (b) an exercise price equal to the fair market value of the Company’s Common Stock on the date of grant, (c) for vesting in equal monthly installments over a four year term beginning on the six month anniversary of the date of grant (provided that 6/48 of the option will vest on such six month anniversary) with accelerated vesting upon (i) a Change of Control (as defined below), (ii) termination of the Executive by the Company without Cause (as defined below), or (iii) the cessation of the Executive’s employment with the Company for Good Reason (as defined below), and (d) for a ten year term. With respect to vested options, the Executive shall not have any right to receive a cash-out or liquidation of such options from the Company, unless specifically agreed t...

Equity Participation. Effective on the effective date of the Business Combination, the Executive shall be granted a stock option to acquire _______shares of the Common Stock of the Company, subject to the terms and conditions of the stock option agreement between the Company and the Executive dated as of the date hereof and the Company's 1996 Long-Term Incentive Plan. In addition, the Executive shall be entitled to receive awards under any other stock option or equity based incentive compensation plan or arrangement adopted by the Company during the Employment Period for which senior executives are eligible. The level of the executive's future participation in any such plan or arrangement shall be in the sole discretion of the Board.

Equity Participation. Executive’s equity participation in the Company has been or will be documented pursuant to some or all of the 2003 Stock Purchase and Option Plan for Key Employees of the Company and its Subsidiaries and the associated Management Stockholder’s Agreement, the Second Amended and Restated ITC Holdings Corp. 2006 Long Term Incentive Plan and the associated Amendment to Management Stockholder’s Agreement, and in one or more Stock Option, Restricted Stock Award and Sale Participation Agreements associated therewith, each as executed by the Executive, the Company, and its shareholders, as applicable (such documents, collectively, the “Equity Documents”). The Company and Executive each acknowledges that the terms and conditions of the aforementioned documents govern Executive’s acquisition, vesting, holding, sale or other disposition of Executive’s equity in the Company, and Executive’s and the Company’s rights with respect thereto.

Equity Participation. Pursuant to the Company’s 2000 Stock Incentive Plan, Executive may have previously been granted a specific number of options to purchase shares of the Company’s common stock (the “Options”), with certain vesting schedules and exercise prices, and except as specifically detailed herein, such grants remain in effect and are not affected by this Agreement.

Equity Participation. As soon as practicable following the Effective Date (and in no case later than 10 days following the Effective Date, Company shall grant to Employee options to purchase up to 425,000 shares of the Company's common stock (as adjusted for stock splits, combinations, recapitalizations, and the like occurring on and after the Effective Date) (such options the "Options"), with an exercise price of $1.50 per share with regard to the 20% of such options that vest during the first year following the Effective Date; with an exercise price of $2.25 per share with regard to the 20% of such options that vest during the second year following the Effective Date; with an exercise price of $3.00 per share with regard to the 20% of such options that vest during the third year following the Effective Date; with an exercise price of $3.75 per share with regard to the 20% of such options that vest during the fourth year following the Effective Date; and with an exercise price of $4.50 per share with regard to the 20% of such options that vest during the fifth year following the Effective Date. One-sixtieth (1/60) of the total number of shares subject to the Options shall vest and become exercisable at the end of each month following the Effective Date on the same day of each month as the Effective Date, so that all shares subject to the Options will be fully vested on the fifth anniversary of the Effective Date. These Options will be exercisable for a period of seven years from the date of grant and will be 2 Levinkron Employment Agreement Exec. 08/30/05 incentive stock options to the extent permitted by applicable law. In the event that the Employment Period is extended as contemplated by Section 2 hereof, Company shall grant to Employee additional options within 10 days of the commencement of each year of the extended Employment Period exercisable for up to 100,000 shares of the Company's common stock (as adjusted for stock splits, combinations, recapitalizations, and the like occurring on and after the Effective Date) (all such options "Additional Options"). All Additional Options shall vest and be exercisable immediately upon grant, shall have a per-share exercise price equal to the per-share fair market value of the common stock at the time of grant, shall be exercisable for a period of five years from the date of grant, and shall be incentive stock options to the extent permitted by applicable law. Notwithstanding the foregoing, if on the date of grant of any such Addit...