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. 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. The Company and the Executive have previously entered into a Share Purchase Option Agreement, covering 253,139 common shares of the Company, par value US$0.10 (the "Common Stock"), in the form attached hereto as Exhibit A (the "Option Agreement"), such grant representing 1.5% of the outstanding shares of Common Stock as of November 20, 2001.
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 in the notice delivered by Xxxxx Inc. to SG immediately prior to the Parties’ execution of this Agreement, and in each case only up to the respective amounts set forth next to each employee’s or officer’s name on such notice, which schedule may be amended at any time and from time to time with the consent of SG until the date that is one (1) Business Day prior to the anticipated Separation Date.
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.
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. Concurrently with the execution of this Agreement, the Company and the Executive shall enter into a Share Purchase Option Agreement, covering 253,139 common shares of the Company, par value US$0.10 (the "COMMON STOCK"), in the form attached hereto as Exhibit A (the "OPTION AGREEMENT"), such grant representing 1.5% of the outstanding shares of Common Stock as of the date hereof.
Initial Awards. Executive will benefit from the following two initial awards:
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. Subject to Board approval, the Corporation shall grant Executive initial equity awards with a target aggregate grant date fair value of $5 million (the “Initial Awards”), with 50% of the Initial Awards in the form of time-based restricted stock units (“Initial RSUs”) and 50% of the Initial Awards in the form of performance-based restricted stock units (“Initial PSUs”). The Initial RSUs will vest in equal annual installments over three years following the Start Date, subject to Executive’s continued employment through each applicable vesting date. The Initial PSUs will vest on the third anniversary of the Start Date, subject to achievement of the applicable performance conditions and subject to Executive’s continued employment through the applicable vesting date. In all other material respects, the Initial Awards will be subject to the same vesting and other terms as those applicable to the time-based and performance-based restricted stock units (as applicable) granted to the Corporation’s other executive officers in February 2024. Subject to the foregoing, the Initial Awards shall be subject to the terms and conditions set forth in the Equity Documents.
