Common use of General Award Clause in Contracts

General Award. Pursuant to the Plan, Crown awards to Executive Restricted Stock Units (“RSUs”), each unit corresponding to one share of Crown Common Stock (as defined in the Plan), subject to the terms and conditions set forth in this Agreement and the Plan. A copy of the Plan has been delivered to the Executive. By signing below, the Executive agrees to be bound by all the provisions of the Plan. Each RSU constitutes an unsecured promise of Crown to deliver either a share of Common Stock or cash in an amount equivalent to one share of Common Stock to Executive on the Delivery Date (as defined below). As a holder of RSUs, Executive has only the rights of a general unsecured creditor of Crown.

Appears in 2 contracts

Samples: Restricted Stock Unit Agreement (Crown Media Holdings Inc), Restricted Stock Unit Agreement (Crown Media Holdings Inc)

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General Award. Pursuant to the Plan, Crown awards to Executive 200,000 Restricted Stock Units (“RSUs”), each unit corresponding to one share of Crown Common Stock (as defined in the Plan), subject to the terms and conditions set forth in this Agreement and the Plan. This grant reflects a two-year grant. Crown also awards the additional Performance RSUs that may be vested under Section 2(b)(i)(A) and Section 2(b)(iii). A copy of the Plan has been delivered to the Executive. By signing below, the Executive agrees to be bound by all the provisions of the Plan. Each RSU constitutes an unsecured promise of Crown to deliver either a share of Common Stock or cash in an amount equivalent to one share of Common Stock to Executive on the Delivery Date (as defined below). As a holder of RSUs, Executive has only the rights of a general unsecured creditor of Crown.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Crown Media Holdings Inc)

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General Award. Pursuant to the Plan, Crown awards to Executive 115,000 Restricted Stock Units (“RSUs”), each unit corresponding to one share of Crown Common Stock (as defined in the Plan), subject to the terms and conditions set forth in this Agreement and the Plan. A copy of the Plan has been delivered to the Executive. By signing below, the Executive agrees to be bound by all the provisions of the Plan. Each RSU constitutes an unsecured promise of Crown to deliver either a share of Common Stock or cash in an amount equivalent to one share of Common Stock to Executive on the Delivery Date (as defined below). As a holder of RSUs, Executive has only the rights of a general unsecured creditor of Crown.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Crown Media Holdings Inc)

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