Incentive Stock a. On the Effective Date, the Executive shall receive [1,250,000] shares of the Company (the “Restricted Stock”) which shall be subject to the provisions of the Restricted Stock Agreement between the Company and the Executive (the “Restricted Stock Agreement”), including, without limitation, its forfeiture conditions, rights of repurchase and other transfer restrictions, except to the extent that any such provisions conflict with the provisions of this Agreement in which case the provisions of this Agreement will prevail.
b. The board of the Company may, from time to time and in its sole discretion, award the Executive additional restricted stock, stock options or other equity based consideration, with any such awards being subject in each case to the applicable agreements governing such award.
Incentive Stock. Subject to the approval of the 2004 Omnibus Long-Term Plan at the Company's 2004 annual meeting of stockholders, as an incentive bonus, shares of the Company's common stock ("Incentive Stock") shall be granted to the Executive in accordance with the following:
3.1. Incentive Stock shall be granted to the Executive in reward for the Executive's service and achievement of certain performance criteria, which performance criteria shall be established and determined by the Compensation Committee.
3.2. A total of 350,000 shares of Incentive Stock shall be granted in the form of deferred stock. Two and nine-tenths percent (2.9 %) of the shares of Incentive Stock shall be granted and released to the Executive if he is continuously employed by the Company from the Effective Date through December 31, 2004, five and seven-tenths percent (5.7%) of the shares of Incentive Stock shall be granted and released to the Executive if he is continuously employed by the Company from the Effective Date through December 31, 2005, five and seven-tenths percent (5.7%) of the shares of Incentive Stock shall be granted and released to the Executive if he is continuously employed by the Company from the Effective Date through December 31, 2006, and five and seven-tenths percent (5.7%) of the shares of Incentive Stock shall be granted and released to the Executive if he is continuously employed by the Company from the Effective Date through December 31, 2007. The remaining shares of Incentive Stock shall be granted and released based on the achievement of performance criteria over semi-annual, annual and cumulative performance periods ending December 31, 2007, as determined by the Compensation Committee.
Incentive Stock. In addition to the salary specified above, the Company shall provide Xxxxxxx with stock incentives as follows: 3.1
Incentive Stock. During the term of the Executive’s employment with the Company pursuant to this Agreement, Executive will participate in the Delta Apparel, Inc. Incentive Stock Award Plan (“Plan”). Under the service participation of the Plan the Executive will receive a grant on June 29, 2009 that provides a two year award of 30,000 shares per year of Delta Apparel, Inc. Stock upon the filing with the Securities and Exchange Commission of the Company’s Form 10K for each of the fiscal years 2010 and 2011. Under the service participation of the Plan the Executive will receive an annual grant on June 27, 2011 that provides an annual award of 30,000 shares of Delta Apparel, Inc. Stock upon the filing with the Securities and Exchange Commission of the Company’s Form 10K for fiscal year 2012. If shares are not available on the date of the award, a cash award will be made to the Executive in the amount of the value of the award as of the close of the market on the date of the award. In addition, at or about such time the Company shall pay the Executive in cash an amount which will be approximately sufficient, after the payment of all applicable federal and state income taxes attributable to such payment, to pay the federal and state income taxes which the Participant will incur by virtue of the vesting of such Award (or portion thereof) whether received in the form of stock or cash. In the event the Executive’s employment is terminated other than for Cause as defined in Section 4(b) of the Agreement, the full award will be made for the fiscal year in which the Executive’s employment is terminated.
Incentive Stock. Within 5 days of the Separation Date, the Company shall transfer to Mr. Xxxxxx xxx following “incentive” shares of Company stock, less Federal and State withholding as instructed by Mr. Xxxxxx: 0,500 shares of the incentive stock, which would have vested by November 11, 2015, granted in the Restricted Stock Unit Agreement between the Company and Mr. Xxxxxx xxxed December 11, 2011; 948 shares of the incentive stock, which would have vested by March 31, 2016, granted in the Restricted Stock Unit Agreement between the Company and Mr. Xxxxxx xxxed December 12, 2013; 500 shares of the incentive stock, which would have vested by March 31, 2016, granted in the Restricted Stock Unit Agreement between the Company and Mr. Xxxxxx xxxed March 28, 2014; 842 shares of the incentive stock, which would have vested by March 31, 2016, granted in the Restricted Stock Unit Agreement between the Company and Mr. Xxxxxx xxxed June 4, 2015; 681 shares of the incentive stock, which would have vested by March 31, 2016, granted in the Restricted Stock Unit Agreement between the Company and Mr. Xxxxxx xxxed June 4, 2015; 843 shares of Company stock, which would have vested on March 12, 2017, granted in the Restricted Stock Unit Agreement between the Company and Mr. Xxxxxx xxxed June 4, 2015; 681 shares of Company stock, which would have vested on March 12, 2017, granted in the Restricted Stock Unit Agreement between the Company and Mr. Xxxxxx xxxed June 4, 2015; and 500 shares of Company stock, which would have vested on March 28, 2017, granted in the Restricted Stock Unit Agreement between the Company and Mr. Xxxxxx xxxed March 28, 2014. The transfer of these shares represents the agreed upon amount of incentive stock granted to Mr. Xxxxxx xx the various Restricted Stock Agreements between the Company and Mr. Xxxxxx, xxcluding the Agreements dated December 11, 2011, December 12, 2013, March 28, 2014, and June 4, 2015. Mr. Xxxxxx xxxees that he is not entitled to any additional stock under any of his agreements with the Company.
Incentive Stock. A Restricted Stock Agreement will be executed between Cleveland BioLabs and Executive granting approximately 2% of the outstanding shares (or options) of the company at the time of employment (190,000 units) with 0.5% vesting upon execution of the Restricted Stock Agreement and the remainder vesting at 1-year intervals over a 3-year period. The Restricted Stock Agreement is incorporated herein to this Employment Agreement by reference.
Incentive Stock. Options granted pursuant to this Plan shall be evidenced by an agreement in writing setting forth the material terms and conditions of the grant, including, but not limited to, the number Shares subject to option.
Incentive Stock. Option This Agreement evidences an award of an Option exercisable for that number of shares of Common Stock set forth on the Schedule and subject to the vesting and other conditions set forth in this Agreement and in the Plan. This Option is intended to be an incentive stock option under Section 422 of the Code (an “Incentive Stock Option”) and will be interpreted accordingly; provided, that, the Company makes no representation or guarantee that the Option will qualify as an Incentive Stock Option. If the aggregate Fair Market Value of the shares of Common Stock on the Grant Date with respect to which this Option is exercisable for the first time by you during any calendar year, under this Plan or any other stock option plan of the Company or a parent or subsidiary of the Company, exceeds $100,000, then this Option, as to the excess, shall be treated as a Nonqualified Stock Option. Vesting & Exercisability This Option is only exercisable before it expires and then only with respect to the vested portion of the Option. This Option shall vest in accordance with the vesting schedule set forth on the Schedule; provided, however, that for purposes of vesting, fractional numbers of shares of Common Stock shall be rounded to the nearest whole number, and the number of shares of Common Stock that shall vest on the final vesting date shall be rounded up or down as necessary such that the total number of shares of Common Stock that vest pursuant to the vesting schedule shall be equal to the number of shares of Common Stock covered by this Option as set forth on the Schedule. Notwithstanding the vesting schedule set forth on the Schedule, this Option shall become one-hundred percent (100%) vested upon the termination of your Service due to your death or Disability.Unless the termination of your Service triggers accelerated vesting or other treatment of this Option pursuant to the terms of this Agreement, the Plan or your employment agreement with the Company (the “Employment Agreement”), if any, you shall immediately and automatically forfeit the unvested portion of the Option to the Company in the event your Service terminates for any reason. No portion of this Option that is not exercisable at the time of the termination of your Service shall thereafter become exercisable.
Incentive Stock. Option Agreement with Dan Xxxxx xxxed March 4, 1995 for 2,000 shares of the Common Stock of the Company.
Incentive Stock. As soon as practicable following the Effective Date and the adoption of an omnibus incentive stock plan by the Board and the Company’s stockholders (“Share Plan”), Executive shall be granted the following share allocations out of the Company’s incentive stock allocation pool (representing as at the Effective Date, five percent (5%) of the outstanding stock of the Company as at July 24, 2017) (“Incentive Pool”):
(a) 48,450 shares (representing the number of fully vested shares of common stock of the Company valued at $10.32 per share equal to five hundred thousand dollars ($500,000.00) (“Vested Stock”)). The Vested Stock will be subject to the restrictions on transfer contained in the form of Lock Up Agreement attached as Exhibit 1 and the period of such restriction shall be one (1) year from the date on which the Vested Stock is issued by the Company and granted to Executive;
(b) 1,052,492 shares (representing the relevant number of shares of common stock of the Company valued at $10.32 per share (“Incentive Stock”)). The terms of the Incentive Stock shall be determined, and the Incentive Stock shall be administered (in a manner consistent with the immediately preceding sentence), by the Compensation Committee of the Board of the Company in accordance with the Share Plan. The Company will establish a trading plan pursuant to Rule 10b5-1 under the Securities and Exchange Act of 1934, as amended, prior to the one-year anniversary of the Effective Date to facilitate sales of Executive’s Vested Stock in the open market to cover the tax liability associated with vesting events.
