Initial Awards. Each individual who first becomes an Outside Director following the Closing Date automatically will be granted an award of Options (an “Initial Award”) to purchase 153,000 Shares. The grant date of the Initial Award will be the first Trading Day on or after the date on which such individual first becomes an Outside Director, whether through election by the stockholders of the Company or appointment by the Board to fill a vacancy. If an individual was an Inside Director, becoming an Outside Director due to termination of the individual’s status as an Employee will not entitle the Outside Director to an Initial Award. Each Initial Award will be scheduled to vest as to one thirty-sixth (1/36th) of the Shares subject to the Initial Award each month following the Initial Award’s grant date on the same day of the month as such grant date (or on the last day of the month, if there is no corresponding day in such month), in each case subject to the Outside Director remaining a Service Provider through the applicable vesting date.
Initial Awards. The Company and the Executive have previously entered into a Share Purchase Option Agreement, covering 10,000 voting common shares of the Company, par value US$0.10 (the "Common Stock"), in the form attached hereto as Exhibit A (the "Option Agreement"), and a Restricted Share Grant Agreement, covering 10,000 shares of Common Stock, in the form attached hereto as Exhibit B (the "Share Agreement").
Initial Awards. Concurrently with the execution of this Agreement, the Company and the Executive shall enter into a Share Purchase Option Agreement, covering 15,000 voting common shares of the Company, par value US$0.10 (the "COMMON STOCK"), in the form attached hereto as Exhibit A (the "OPTION AGREEMENT") and a Share Grant Agreement, covering 10,000 shares of Common Stock, in the form attached hereto as Exhibit B (the "SHARE AGREEMENT").
Initial Awards. Upon the consummation of the IPO, Xxxxx Inc. will issue shares of Cowen Common Stock and options to purchase Cowen Common Stock only to the employees and officers of Xxxxx Inc. set forth on Schedule 4.04 hereto, and in each case only up to the respective amounts set forth next to each employee’s or officer’s name on such schedule, which schedule may be amended at any time and from time to time with the consent of SG until the date that is three (3) Business Days prior to the anticipated Separation Date.
Initial Awards. As of October 1, 2002, the Company and the Executive shall enter into a Share Purchase Option Agreement, covering 10,000 voting common shares of the Company, par value US$0.10 (the "COMMON STOCK"), in the form attached hereto as Exhibit A (the "OPTION AGREEMENT") and a Restricted Share Grant Agreement, covering 10,000 shares of Common Stock, in the form attached hereto as Exhibit B (the "SHARE AGREEMENT").
Initial Awards. Pursuant to the Xxxxxxx Xxxx Homes 2012 Equity Incentive Plan (the “EIP”), concurrently with the execution of this Agreement, the Company will award to Executive [ ] shares of Class D restricted stock (the “Initial Restricted Stock Award”) and an option to purchase [ ] shares of the Class D stock of the Company (the “Initial Option”, and, together with the Initial Restricted Stock Award, the “Initial Awards”). The Company shall withhold [ ] shares from the Initial Restricted Stock Award to satisfy the Executive’s minimum statutory tax withholding obligations, in accordance with the EIP.
Initial Awards. Executive will benefit from the following two initial awards:
Initial Awards. As a material inducement to Executive’s acceptance of employment with the Company under this Agreement and in partial consideration for the covenants set forth in Sections 7 through 9 below, on the Effective Date, Executive shall receive Initial Awards under the Company’s Stock Incentive Plan (the “Stock Plan”) as described in Exhibit B.
Initial Awards. The Executive will be granted the awards in Section 4(d) below.
Initial Awards. (i) On December 31, 2021, the Executive will be granted a stock option to purchase shares of the Company’s common stock having a grant date fair value of $5,000,000 (the “Initial Stock Option Grant”) as determined in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, of stock options granted under the Company’s equity plans (“FASB ASC Topic 718”). The Initial Stock Option Grant will be subject to the Company’s 2018 Stock Incentive Plan, as may be amended from time to time (the “2018 Plan”) and the Company’s standard stock option agreement under the 2018 Plan. The exercise price of the Initial Stock Option Grant shall be equal to the closing price of the Company’s common stock on the Nasdaq Global Select Market on the grant date. The Initial Stock Option Grant will vest over a four year period with 25% of the award vesting on the first anniversary of the grant date and then an additional 6.25% of the award vesting at the end of each three-month period thereafter until the fourth anniversary of the grant date, when the Initial Stock Option Grant will be fully vested, subject to the Executive continuing to be an eligible Participant (as defined in the 2018 Plan) on each vesting date.
(ii) The Executive will receive a one-time lump sum cash award of $250,000 (the “Initial Cash Award”) on January 1, 2022 (the “Award Date”) to facilitate her transition to the Boston area in connection with her serving as Chief Executive Officer of the Company. In the event that the Executive terminates her employment with the Company without Good Reason (as defined below) or the Executive is terminated by the Company for Cause (as defined below) within 24 months following the Award Date, the Executive will be required to repay the gross amount of the Initial Cash Award based on the following scale: 0-12 months following the Award Date: 100% of the Initial Cash Award; 13-24 months following the Award Date: 50% of the Initial Cash Award. Any such repayment will be required within 30 days following the Executive’s Date of Termination (as defined below) and the Executive agrees that any such repayment amount may be deducted from monies owed to her by the Company, including her last regular paycheck, to the extent permitted by law. In the event the Company is unable to deduct the full gross amount from the Executive’s last paycheck, the Executive is required to fulfill her remaining repayment obligations within 30 days following the Date...
