Existing Equity Awards Sample Clauses
Existing Equity Awards. (a) By virtue of the EVI Merger and without any action on the part of the holders thereof, each (i) EVI Stock Option issued on or before September 11, 2020, whether vested or unvested, that is outstanding and unexercised as of immediately prior to the EVI Effective Time shall, as of the EVI Effective Time, cease to represent a right to acquire shares of EVI Common Stock and shall be converted into an option (a “Parent Stock Option”) to acquire, on the same terms and conditions (including with respect to exercisability and the ability to pay the exercise price and satisfy applicable tax or other withholding obligations by reduction of the amount of shares otherwise deliverable) as were applicable to such EVI Stock Option immediately prior to the EVI Effective Time except the vesting of such EVI Stock Options shall be accelerated and (ii) EVI Stock Option issued on or after September 12, 2020, whether vested or unvested, that is outstanding and unexercised as of immediately prior to the EVI Effective Time shall, as of the EVI Effective Time, cease to represent a right to acquire shares of EVI Common Stock and shall be converted into a Parent Stock Option to acquire, on the same terms and conditions (including with respect to vesting, exercisability and the ability to pay the exercise price and satisfy applicable tax or other withholding obligations by reduction of the amount of shares otherwise deliverable) as were applicable to such EVI Stock Option immediately prior to the EVI Effective Time, the number of shares of Parent Common Stock (rounded, if necessary, up to the nearest whole share) determined by multiplying the number of shares of EVI Common Stock subject to such EVI Stock Option as of immediately prior to the EVI Effective Time by the EVI Merger Consideration, at an exercise price per share of Parent Common Stock (rounded, if necessary, up to the nearest one-tenth of one cent) equal to the exercise price per share of EVI Common Stock under such EVI Stock Option divided by the EVI Merger Consideration; provided, however, that the adjustments provided in this Section 3.8 with respect to any EVI Stock Options, whether or not they are “incentive stock options” as defined in Section 422 of the Code, are intended to be effected in a manner that is consistent with Section 424(a) of the Code and Section 409A of the Code and the respective regulations promulgated thereunder.
(b) By virtue of the MTI Merger and without any action on the part of the holders ...
Existing Equity Awards. “Existing Equity Awards” means stock options to purchase shares of the Company’s common stock that have been granted to Executive prior to the Effective Date and remain outstanding as of the Effective Date.
Existing Equity Awards. In the event this Agreement is terminated by the Company without Cause pursuant to Section 6(a), the vesting of any and all outstanding and unvested stock option awards previously granted to Consultant by the Company shall be accelerated in full, such that they become immediately and fully vested and exercisable as of the effective date of termination.
Existing Equity Awards. The parties agree that the termination of Consultant’s employment with the Company shall constitute the “Approved Retirement” of Consultant under those certain option agreements, dated January 30, 2004 (40,000 shares @ $17.37 per share), and January 20, 2005 (10,000 shares @ $21.45 per share) and those certain restricted stock unit award agreements dated January 30, 2004 (10,000 units) and January 20, 2005 (1,500 units).
Existing Equity Awards. The parties hereto acknowledge that the Chairman holds restricted shares of the Company’s Common Stock, a portion of which is subject to a repurchase option in favor of the Company in the event the Chairman ceases to provide services to the Company and stock option awards exercisable for shares of the Company’s Common Stock (collectively, the “Existing Equity Awards” and together with the Option and any future equity awards granted to Chairman, the “Equity Awards”). Other than as set forth in Section 2.5 below, nothing herein is intended to amend or otherwise alter the provisions of the Existing Equity Award or the agreements and documents governing the terms of such awards.
Existing Equity Awards. The Chairman shall continue to vest in all outstanding equity awards held by the Chairman as of the Effective Date, subject to the Chairman’s continued Service Relationship through each applicable vesting date, and such equity awards shall continue to be governed by the terms of the Plan and each applicable award agreement. For the avoidance of doubt, the Chairman’s cessation as the Company’s Chief Executive Officer and commencement as a non-executive Chairman pursuant to this Agreement shall not constitute a termination of the Chairman’s Service Relationship with the Company for purposes of the Chairman’s outstanding equity awards.
Existing Equity Awards. Officer’s outstanding equity awards under the Incentive Plans shall vest or be forfeited as follows:
(a) all unvested restricted shares will fully vest at the Effective Time on December 31, 2024 (for the sake of clarity, the 7,738 shares of restricted stock that vest by their terms on December 31, 2024 will also be fully vested in the ordinary course).
(b) With respect to the Restricted Stock Unit Agreement between Officer and Corporation dated as of January 3, 2022, all RSUs awarded under such agreement shall be forfeited.
(c) With respect to the LTIP Series C Unit Award Agreement between Officer and Corporation dated as of January 4, 2023, 3,969 LTIP Series C Units shall vest at the Effective Time and all remaining LTIP Series C Units awarded under such agreement shall be forfeited. Exhibit 10.26
(d) With respect to the LTIP Series C Unit Award Agreement between Officer and Corporation dated as of February 13, 2024, 3,950 LTIP Series C Units shall vest at the Effective Time and all remaining LTIP Series C Units awarded under such agreement shall be forfeited.
Existing Equity Awards. On the Separation Date, Employee holds the following vested stock options (the “Vested Equity Rights”): Options to purchase 15,000 shares at $23.71 per share that were granted on November 20, 2013 In accordance with the terms of the governing plan documents, the Vested Equity Rights must be exercised within 90 days following the Separation Date or else they will automatically terminate. Also in accordance with the terms of the governing plan documents, all unvested stock options and unvested restricted stock held by the Employee on the Separation Date (excluding the Retention Shares) shall be automatically terminated for no consideration.
Existing Equity Awards. In the event Executive’s termination occurs on or after November 30, 2012, or qualifies as an Early Eligible Termination, and subject to the approval of the Committee, Executive shall be eligible for continued vesting of any of Executive’s restricted shares of common stock (the “Restricted Shares”) and Stock Appreciation Rights (“SARs”) granted to Executive pursuant to the GenCorp Inc. 1999 Equity and Performance Incentive Plan and the GenCorp Inc. Amended and Restated 2009 Equity and Performance Incentive Plan (collectively, the “Plans”) that have not yet vested, in accordance with the terms of the Plans.
Existing Equity Awards. Notwithstanding anything to the contrary in this Agreement, Executive’s existing equity awards will continue to be in effect pursuant to the terms set forth in the applicable award agreement and the Company’s Amended and Restated 2020 Stock Incentive Plan (together, the “Equity Awards”), and Executive’s continuing service pursuant to this Agreement shall be considered as continuing employment or other service providing capacity pursuant to such Equity Awards.