Forfeiture of Outstanding Equity Awards Sample Clauses

Forfeiture of Outstanding Equity Awards. All outstanding and unvested equity awards held by the Consultant shall be forfeited without consideration as of the Resignation Date.
Sample 1
AutoNDA by SimpleDocs
Forfeiture of Outstanding Equity Awards. The provisions of Section 4 notwithstanding, if a court of competent jurisdiction or an arbitral tribunal determines that Executive (x) willfully and materially breached Sections 5.1, 5.2, 5.3, 5.4 or 5.8 and (y) failed to cure such breach within 30 days after his receipt of written notice from the Board of Directors, attaching a copy of a resolution duly adopted by the Board of Directors by a vote of Directors constituting a majority of the Board of Directors (excluding Executive) at a meeting of the Board of Directors at which a quorum is physically present in person, in which resolution the Board of Directors sets forth such breach in reasonable detail and expressly elects the remedy provided in this Section 5.6, and which notice is delivered to Executive within 90 days after the Company first had knowledge of such breach (the foregoing, collectively, a “Section 5.6 Notice of Breach”) (and which cure by Executive, in the case of a breach of Section 5.4, may be effected, without limitation, by correction or retraction of the disparaging statements), then all options, restricted stock units and other equity awards (whether granted prior to, contemporaneously with, or subsequent to this Agreement) granted by the Company and held by Executive or a transferee of Executive shall be immediately forfeited and thereupon such equity awards shall be cancelled, such forfeiture to be effective at the later of the time of such failure to comply or Executive’s termination of employment. If a court of competent jurisdiction or arbitral tribunal finds that the Company is entitled to cause the forfeiture of Executive’s equity awards in accordance with the foregoing terms of this Section 5.6, Executive shall be required to forfeit such equity awards immediately. If any equity award is exercised or vests after delivery of the Section 5.6 Notice of Breach and if such forfeiture subsequently occurs pursuant to the foregoing terms of this Section 5.6, Executive shall be required to return to the Company all shares acquired upon such exercise or vesting; provided further that if Executive has sold any shares he acquired upon such exercise or vesting, Executive shall pay to the Company an amount equal to the difference between the aggregate sale price of the shares sold and the aggregate exercise price paid by Executive for such shares. If a court of competent jurisdiction or arbitral tribunal does not find that the Company is entitled to cause such forfeiture in accordance wit...
Sample 1

Related to Forfeiture of Outstanding Equity Awards

  • Outstanding Equity Awards Executive’s outstanding equity awards shall remain outstanding following the Effective Date in accordance with their terms, provided, that to the extent any term of this Agreement is more favorable to Executive, including in respect to accelerated vesting, the more favorable terms of this Agreement shall control.

  • Accelerated Vesting of Equity Awards One hundred percent (100%) of Executive’s then-outstanding and unvested Equity Awards will become vested in full. If, however, an outstanding Equity Award is to vest and/or the amount of the award to vest is to be determined based on the achievement of performance criteria, then the Equity Award will vest as to one hundred percent (100%) of the amount of the Equity Award assuming the performance criteria had been achieved at target levels for the relevant performance period(s).

  • Annual Equity Awards Following the first anniversary of the Effective Date, Executive will be granted annual equity awards in an amount determined by the Board. Such awards may be in the form of options, restricted stock units, performance shares, or any other form as approved by the Board.

  • Outstanding Options The option granted to Optionee under this Option Agreement shall in no event be exercised while there is outstanding any option previously granted to Optionee to purchase common shares of the Company at a price higher than the option price under the option herein granted to Optionee.

  • Company Equity Awards With respect to any stock options, restricted stock or other equity awards (the “Equity Awards”) granted pursuant to any compensation plan of the Company or its Subsidiaries providing for the issuance of Equity Awards (the “Company Plans”), (A) each grant of an Equity Award was duly authorized no later than the date on which the grant of such Equity Award was by its terms to be effective by all necessary corporate action, and (B) each such grant was made in accordance with the terms of the Company Plans and all other applicable laws and regulatory rules or requirements.

  • Equity Awards You will be eligible to receive awards of stock options or other equity awards pursuant to any plans or arrangements the Company may have in effect from time to time. The Board or Committee, as applicable, will determine in its sole discretion whether you will be granted any such equity awards and the terms of any such award in accordance with the terms of any applicable plan or arrangement that may be in effect from time to time.

  • Initial Equity Award Upon or as soon as practicable after the Effective Date, the Company will award Executive restricted stock units and stock options to purchase shares of the Company’s common stock, with an aggregate grant date fair market value as determined by the Board for accounting purposes of $1,200,000. Such restricted stock units or stock options, as applicable, to vest ratably over 4 years (25% each year). Allocation between restricted stock units and stock options to be determined by the Board.

  • Vesting of Equity Awards Notwithstanding the provisions of any plan or agreement governing such an Award (as defined in Section 4(c)), all Awards granted to you that remain outstanding and unvested immediately prior to the occurrence of a Change in Control (as defined in Section 4(d)(i)) automatically shall vest in full upon the occurrence of the Change in Control.

  • No Equity Awards Except for grants pursuant to equity incentive plans disclosed in the Registration Statement and the Prospectus, the Company has not granted to any person or entity, a compensatory stock option or other compensatory equity-based award to purchase or receive common stock of the Company or OP Units of the Operating Partnership pursuant to an equity-based compensation plan or otherwise.

  • Equity Incentive Awards Executive shall be eligible to receive grants of equity-based long-term incentive awards, which may include options to purchase Company stock, performance or restricted stock units and Company restricted stock contributions to Company’s deferred compensation plan, or other equity-based awards. Such awards shall be determined in the discretion of the Board. In the event of a Change of Control (as defined in the Redwood Trust, Inc. Executive Deferred Compensation Plan) in which the surviving or acquiring corporation does not assume the Executive’s outstanding equity-related awards (including options and equity-based awards granted both before and after the Effective Date) or substitute similar equity-related awards, such equity-related awards shall immediately vest and become exercisable if the Executive’s service with the Company has not terminated before the effective date of the Change of Control; provided, however, that the foregoing provision shall only apply if the Company is not the surviving corporation or if shares of the Company’s common stock are converted into or exchanged for other securities or cash.

Time is Money Join Law Insider Premium to draft better contracts faster.