Founder’s Grant. You shall receive a Founders' Grant of options to purchase 450,000 shares of Verizon common stock. The Founders' Grant is contingent on your timely execution of this Agreement. The terms of the Founders' Grant are set forth in the instrument governing the Founders' Grant attached hereto as Exhibit A, which is incorporated herein by reference. Your rights under the Founders' Grant following the termination of your employment shall be governed by paragraph 13 ("Termination Of Employment") and by said Exhibit A. If you do not timely execute this Agreement, you shall not receive the Founders' Grant.
Founder’s Grant. Within 30 days following the Transaction, subject to the approval of the Board or the Committee, the Executive will be granted a number of options to purchase JTAX common stock on such terms and conditions determined by the Board or the Committee in its sole discretion.
Founder’s Grant. You shall receive a Founders' Grant of options to purchase 130,000 shares of Verizon common stock. The Founders' Grant is contingent on your timely execution of this Agreement and your election to participate in the Special Retention Account Program described in paragraph 11 ("Special Retention Account Program"). The terms of the Founders' Grant are set forth in the instrument governing the Founders' Grant attached hereto as Exhibit A, which is incorporated herein by reference. If you do not timely execute this Agreement and timely elect to participate in such Special Retention Account Program, you shall not receive the Founders' Grant.
Founder’s Grant. You shall receive a Founders' Grant of options to purchase 400,000 shares of the common stock of Verizon Communications. The Founders' Grant is contingent on your timely execution of this Agreement. The terms of the Founders' Grant are set forth in the instrument governing the Founders' Grant attached hereto as Exhibit A, which is incorporated herein by reference. If you do not timely execute this Agreement, you shall not receive the Founders' Grant.
Founder’s Grant. Subject to the reservation of rights set forth in Section 2.03, FOUNDERS grant COMPANY a worldwide, royalty-bearing, exclusive (even as to MAYO and VGL, subject to Section 2.03) license under the Licensed Patents and their interests in the Jointly Owned Patents to develop, make, have made, use, offer for sale, sell and import COMPANY Products, in the Field. COMPANY shall have the right to sublicense the Licensed Patents and the Jointly Owned Patents in the Field. Any such sublicense will include obligations of confidentiality, name use, warranties, waivers and indemnification for the benefit of FOUNDERS of the same scope as set forth herein. COMPANY will be responsible for the performance of its sublicensees under any such sublicense. COMPANY will notify FOUNDERS of any sublicense within [***] days after execution thereof and provide FOUNDERS a copy of the same. If COMPANY receives any non-cash consideration for the grant of a sublicense under the Licensed Patents and Jointly Owned Patents in the Field (e.g., in the form of services, products or technology in lieu of cash consideration for such sublicense), it shall include in COMPANY Sublicense Revenue the fair market value of such non-cash consideration, and COMPANY shall owe MAYO payments on such fair market value pursuant to Section 3.08.
Founder’s Grant. Within 60 days following the Transaction, subject to the approval of the Board or the Committee, the Executive will be granted a long term equity incentive grant relating to WEX common stock on such terms and conditions determined by the Board or the Committee in its sole discretion.
Founder’s Grant. Within no more than 30 days following the Transaction, subject to the approval of the Board or the Committee, the Executive will be granted an equity incentive award relating to the common stock of WEX on such terms and conditions determined by the Board or the Committee in its sole discretion. The “value” of such award (within the meaning of the WEX equity incentive program, and without the ability to vest at above 100% of target) shall be $1.85 million; provided, that the vesting of such award may be subject to such performance criteria and other reasonable contingencies determined by the Board of the Committee in its sole discretion.
Founder’s Grant. Your Founder’s Grant will be granted shortly following the spin-off of the Company from ITT Corporation and will have a value of $5,100,000, such value determined by the Compensation and Personnel Committee of the Board using the same methodology used to value founders’ grants to other senior management of the Company generally. One half of the Founder’s Grant award will be granted in the form of nonqualified stock options, with a per-share exercise price equal to the fair market value of a share of the Company’s stock on the date of grant and a ten-year term. The stock options will vest in equal annual installments on the first, second and third anniversaries of the grant date subject to your continued employment through each such vesting date. Should your employment be terminated by the Company other than for Cause (as defined below) before your stock options vest in full, they will continue to vest for the period during which you are receiving Severance Pay (as defined below), notwithstanding any provision of the applicable award agreement to the contrary. The remaining half of the Founder’s Grant award will be granted in the form of restricted stock units, which xxxx xxxxx vest on the third anniversary of the grant date, subject to your continued employment through such vesting date. Upon vesting, these units will be settled immediately in shares of common stock of the Company, subject to satisfaction of all taxes due. Should your employment be terminated by the Company other than for Cause before such units vest, a prorated portion of such units will vest and be settled immediately upon your termination date, with your termination date considered to be the Scheduled Termination Date (as defined below), it being understood that in determining the prorated portion of such units that will vest, you shall be deemed to have continued your employment until the last day of the Severance Pay Period (as defined below), notwithstanding any provision of the applicable award agreement to the contrary. The Founder’s Grant equity award will be granted under the terms of the 0000 Xxxxx Inc. Omnibus Incentive Plan.
Founder’s Grant. Following the Spin-Off and subject to the approval of the Board of Directors of SpinCo (which will not be withheld unreasonably), you shall be granted an award of restricted stock valued at $500,000 using the method described herein (the “Founder’s Grant”). The number of shares awarded shall be determined using the ten-day average closing price of SpinCo stock on the New York Stock Exchange (“NYSE”) starting on the 31st day following the Spin-Off. Subject to your continued employment in good standing with SpinCo during the vesting period, the restrictions shall lapse on the shares granted in three (3) equal annual installments, each consisting of one-third (1/3) of the number of shares originally awarded, commencing on the first anniversary of the original grant date and concluding on the third anniversary thereof. Subject to the terms specified in this Agreement, the Founder’s Grant shall be made pursuant to SpinCo’s equity incentive plan and shall be governed by the terms of that plan and any applicable grant notice.
Founder’s Grant. (a) The Manager or one or more of its Affiliates shall be entitled to receive the Founder’s Grant. The Founder’s Grant is payable as at and is to be paid on the Initial Settlement Date out of the Trust Estate in cash.
(b) The Manager and/or any of its Affiliates shall, as part of the Initial Issuance, acquire in aggregate that number of CBFIs equal to the Net Founder’s Grant divided by the issuance price for such Initial Issuance; provided, that the Manager and its respective Affiliates shall participate on the same terms as any other investors in the Initial Issuance.
(c) The Manager, together with its Affiliates, shall not dispose of the CBFIs acquired pursuant to Clause 8.1(b) for a period of 3 (three) years following the Initial Settlement Date. For avoidance of doubt, the foregoing shall not restrict any disposals of CBFIs during such 3 (three) year period provided that the Manager, together with its Affiliates, continue to collectively hold title to the CBFIs acquired pursuant to Clause 8.1(b).
