Incentive Option Sample Clauses
An Incentive Option clause establishes the terms under which additional compensation or rewards may be granted based on the achievement of specific performance targets or milestones. Typically, this clause outlines the criteria for earning incentives, such as meeting sales goals, completing projects ahead of schedule, or exceeding quality standards, and details the form and timing of the incentive, which could be cash bonuses, stock options, or other benefits. The core function of this clause is to motivate parties to perform at a higher level by directly linking rewards to measurable outcomes, thereby aligning interests and encouraging exceptional performance.
Incentive Option. Incentive Option" means any Option designated and qualified as an "incentive stock option" as defined in Section 422 of the Code.
Incentive Option. An Option that is intended to qualify as an “incentive stock option” within the meaning of Section 422 of the Code. An Incentive Option, or a portion thereof, shall not be invalid for failure to qualify under Section 422 of the Code, but shall be treated as a Nonqualified Option.
Incentive Option. If this Option is an Incentive Option, as designated in Section 3(b), it shall expire one day short of ten (10) years from the Grant Date, provided, however, for any Optionee who owns more than ten percent (10%) of the total combined voting power or value of all classes of stock of the Company, this Option shall expire one day short of five (5) years from the Grant Date.
Incentive Option. An Award in the form of an Option that shall comply with the requirements of Section 422 of the Code.
Incentive Option. The Option is intended to be Incentive Option.
Incentive Option. An Option that is intended to qualify as an "incentive stock option" within the meaning of section 422 of the Code. An Incentive Option, or a portion thereof, shall not be invalid for failure to qualify under section 422 of the Code, but shall be treated as a Nonqualified Option. PMT SERVICES, INC. 1994 INCENTIVE STOCK PLAN
Incentive Option. Concurrently with the execution of this Agreement, the Company shall grant Executive an option (the “Incentive Option”) to purchase 12,000,000 shares of the Company’s common stock at an exercise price equal to the fair market price of the Company’s common stock on the Effective Date. The Incentive Option shall vest according to the schedule set forth below, and will expire five (5) years after the date of grant:
2.3.1 When the Company’s Market Capitalization reaches $75 million, the Incentive Option shall vest with respect to 6,000,000 shares (such shares, the “First Tranche”) of the Company’s common stock subject thereunder; and
2.3.2 When the Company’s Market Capitalization reaches or exceeds $120 million, the Incentive Option shall vest with respect to the remaining 6,000,000 (such shares, the “Second Tranche”) shares of the Company’s common stock subject thereunder.
Incentive Option. This Agreement is intended to grant an Option which meets all of the requirements of incentive stock options, as defined in Section 422A of the Internal Revenue Code. Subject to and upon the terms, conditions and provisions of the Plan, each and every provision of this Agreement shall be administered, construed and interpreted so that the Option granted herein shall so qualify as an incentive stock option. Each provision of this Agreement which would prevent this Option from qualifying as an incentive stock option, if any, shall be void.
Incentive Option. PHA may make PHA owned and/or operated units with gross rent(s) at or below 50% AMI available to SRAP TBRA participants. At the end of each fiscal year, DBHDS and PHA will verify the total number of PHA owned and/or operated units leased to new SRAP participants that have rents targeted to households with incomes at or below 50% of the area median income for the Fair Market Rent area in which PHA is located. PHA will receive a bonus payment in accordance with the schedule below: 1-5 $ 10,000 6-10 $ 22,000 11-15 $ 34,000 16-20 $ 48,000
1. Accept referrals for the State Rental Assistance Program from DD support coordinators and track them in the DBHDS Coordinated Housing Access and Referral System (CHARS).
2. Screen referrals to verify they meet basic program eligibility criteria, including age, diagnosis, and Medicaid coverage. Check whether the individual is registered as a violent sexual offender in Virginia Sex Offender Registry and conduct outreach to support coordinators to educate them about SRAP mandatory reasons for denial of assistance. Assess whether the individual wants to proceed with the referral. Notify support coordinators when referrals are accepted, rejected or deemed pending due to missing or unclear information.
3. Assign referrals to PHA’s SRAP slots using SRAP prioritization criteria. Forward referrals and slot assignments to PHA. For PBRA slots, assign referrals to specific slots by property type/location/unit size (screen for location preference, accessibility needs, unit size needs).
4. Track PHA’s available and utilized SRAP slots. For PBRA slots, track available and utilized slots by property/unit. Maintain communication with PHA regarding the approved monthly SRAP subsidy for each slot, the unit address, the date of onset of assistance, the date assistance terminates, any changes to the monthly subsidy or unit, and the effective date of the change.
5. Provide support coordinators and families technical assistance with housing searches and housing application processes.
6. Provide support coordinators and families technical assistance with reasonable accommodation requests, fair housing concerns, and identification of resources to cover initial housing expenses such as housing location, security deposits, moving costs, furnishings, adaptive aids, moving costs and other one-time expenses.
7. Assist PHA with developing annual budget projections for rental assistance and approve the annual budget proposal for rental assistance.
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Incentive Option. An Award in the form of an Option that shall comply with the requirements of Section 422 of the Code. Subject to adjustments in accordance with the provisions of Article XX, the aggregate number of Shares that may be subject to Incentive Options under the Plan shall not exceed Five Million Four Hundred Thousand (5,400,000).