Initial Equity Compensation Sample Clauses

Initial Equity Compensation. The Company shall grant Executive two million U.S. Dollars ($2,000,000) of Restricted Stock Units (the “Tilray RSUs”). The number of Tilray RSUs issued to Executive shall be determined by dividing two million U.S. Dollars ($2,000,000) by the closing price of the Company’s common stock on NASDAQ on the date the Compensation Committee approves the grant (the “Initial Equity Grant”). The Initial Equity Grant will vest as follows:
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Initial Equity Compensation. As an additional element of compensation to Executive, in consideration of the services to be rendered hereunder, on the Effective Date, WellCare shall grant to Executive 50,000 restricted shares of WellCare’s common stock (the “Restricted Stock”) and an option to purchase 100,000 shares of WellCare’s common stock for an exercise price per share equal to the fair market value of one share of WellCare’s common stock as of the close of business on the Effective Date (the “Option”). These equity compensation awards shall be granted under and be subject to the terms of the WellCare Health Plans, Inc. 2004 Equity Incentive Plan (the “2004 Plan”). The terms and conditions of the Restricted Stock also shall be governed by a restricted stock award agreement reflecting such grant pursuant to the 2004 Plan, and the terms and conditions of the Option also shall be governed by a stock option agreement reflecting such grant pursuant to the 2004 Plan and, in each case, providing for, among other things, the terms set forth in this Section 2.3. The Option and the Restricted Stock shall vest in equal annual installments on each of the first through fourth anniversaries of the Effective Date. Notwithstanding anything in this Agreement or the applicable stock option agreement to the contrary, the Option cannot be exercised until WellCare is again current in its periodic report filings with the United States Securities and Exchange Commission (the “SEC”) and has filed all periodic reports required to be filed by it with the SEC within the preceding twelve months.
Sample 1
Initial Equity Compensation. As an additional element of compensation to Executive, in consideration of the services to be rendered hereunder, on the Effective Date, WellCare shall grant to Executive 50,000 restricted shares of WellCare's common stock (the "Restricted Stock") and an option to purchase 100,000 shares of WellCare's common stock for an exercise price per share equal to the fair market value of one share of WellCare's common stock as of the close of business on the Effective Date (the "Option"). These equity compensation awards shall be made as “Employee Inducement Awards” within the meaning of Section 303A.08 of the New York Stock Exchange Listed Company Manual. The terms and conditions of the Restricted Stock shall be governed by a restricted stock award agreement reflecting such grant, and the terms of the Option shall be governed by a stock option agreement reflecting such grant and, in each case, providing for, among other things, the terms set forth in this Section 2.3. The Option and the Restricted Stock shall vest in equal annual installments on each of the first through fourth anniversaries of the Effective Date.
Sample 1
Initial Equity Compensation. The Company shall grant to Executive a non-qualified stock option (the "Initial Option"), substantially in the form of Exhibit A hereto, to purchase 115,000 shares of common stock of the Company at a price per share of $17.46. The terms of the Initial Option shall be governed by the Penn National Gaming, Inc. 1994 Stock Option Plan and, provided that Executive remains employed by the Company as of the relevant vesting date, shall vest in equal quarterly installments over four years, with the first installment vesting on September 3, 2002, and with each subsequent installment vesting on the same date of the third month immediately following the prior installment.
Sample 1
Initial Equity Compensation. The Company shall grant Executive two million U.S. Dollars ($2,000,000) of Restricted Stock Units as follows:
Sample 1
Initial Equity Compensation. (i) On the Effective Date, Executive will be granted two million (2,000,000) Restricted Stock Units (“Non-Performance RSU’s”). These Non-Performance RSU’s will vest fifty percent (50%) on the six (6) month anniversary date of the Effective Date and fifty percent (50%) on the twelve (12) month anniversary of the Effective Date, subject to the Executive’s continued employment as Chief Executive Officer (or continuous service as an on going member of the Board of Directors) with the Company through such date. All Non-Performance RSUs shall be subject to the terms of this Agreement and the relevant stock unit agreements and relevant stock plan under which the Non-Performance RSUs are granted.
Sample 1
Initial Equity Compensation. On the Closing Date, you will be granted a number of time-based Centene Corporation restricted stock units with a grant date fair market value equal to $4,400,000 (calculated on the same basis as other restricted stock units granted generally by Centene to its senior executives) (the "Initial RSU Award"). The Initial RSU Award will vest on the second year anniversary of the Closing Date (i.e., the last day of Employment Term), subject to your continued employment through such vesting date provided that, (i) if your employment is terminated by Centene without Cause (as defined below), due to your death or disability or by you for an Acceptable Reason (as defined below) prior to such vesting date, the Initial RSU Award shall vest in full and be settled in Centene shares as soon as practicable (but in no event later than 30 days following) following your termination date and (ii) if you terminate your employment other than for an Acceptable Reason (as defined below) and by virtue of your Retirement (as defined below) prior to such vesting date, you shall vest in a number of restricted stock units subject to the Initial RSU Award that would have vested based on your continued employment through the first anniversary of your termination date and such restricted stock units shall be settled in Centene shares as soon as practicable (but in no event later than 30 days following) your termination date. Except as provided in this Section 4, the Initial RSU Award agreement shall provide for terms and conditions no less favorable than those provided to similar level Centene executives. The holding period set forth in any equity awards granted by Centene shall not apply to you, provided, that you are otherwise in compliance with the applicable share ownership guidelines of Centene Corporation.
Sample 1
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Initial Equity Compensation. As an additional element of compensation to Executive, in consideration of the services to be rendered hereunder, on the Effective Date, WellCare shall grant to Executive 250,000 shares of WellCare's common stock (the "Restricted Stock") and an option to purchase 500,000 shares of WellCare's common stock for an exercise price per share equal to the fair market value of one share of WellCare's common stock as of the close of business on the Effective Date (the "Option"). The terms and conditions of the Restricted Stock shall be governed by one or more stock award agreements reflecting such grant, and the terms of the Option shall be governed by a stock option agreement reflecting such grant, each consistent with the applicable stock incentive plan of WellCare and providing for, among other things, the terms set forth in this Section 2.3. The Option shall vest in equal monthly installments on the 25th day of each calendar month for forty-eight (48) months commencing on the Effective Date. The Restricted Stock shall vest in equal quarterly installments on the 25th day of every third calendar month for forty-eight (48) months commencing on the Effective Date. Both the Option and the Restricted Stock awards shall be subject to accelerated vesting as provided in Section 2.3.3. With respect to the 100,000 shares of the Restricted Stock that are scheduled to vest first, Executive shall make an election under Section 83(b) of the Internal Revenue Code of 1986, as amended (the "Code"), and the Corporation shall pay, on a fully grossed-up basis, all federal, state, and local income taxes incurred by Executive on compensation resulting from the grant or vesting of such Restricted Stock. Any payment of taxes under the preceding sentence shall be made to or for the benefit of Executive when such taxes are required to be paid or remitted to the taxing authority, but in any event by December 31 of the calendar year following the calendar year in which the taxes are remitted, or, if no taxes are remitted, by December 31 of the calendar year following the calendar year in which there is a final and nonappealable settlement or other resolution of an audit or litigation relating to the taxes. Upon the vesting of the remaining 150,000 shares of Restricted Stock, Executive may make a payment to the Corporation, or authorize the Corporation to withhold from funds otherwise due to Executive, an amount equal to any applicable federal, state and local taxes required to be paid or w...
Sample 1

Related to Initial Equity Compensation

  • Equity Compensation Executive will continue to be eligible to receive stock and option grants, and other equity compensation awards (“Awards”), as determined by the Board or any committee thereof in the Board’s or such committee’s sole discretion.

  • Initial Equity Award Upon or as soon as practicable after the Effective Date, the Company will award Executive restricted stock units and stock options to purchase shares of the Company’s common stock, with an aggregate grant date fair market value as determined by the Board for accounting purposes of $1,200,000. Such restricted stock units or stock options, as applicable, to vest ratably over 4 years (25% each year). Allocation between restricted stock units and stock options to be determined by the Board.

  • Equity Compensation Acceleration Upon the Executive’s Termination Upon Change of Control, the vesting and exercisability of all then outstanding stock options (or any other equity award, including, without limitation, stock appreciation rights and restricted stock units) granted to the Executive under any Company Plans shall be accelerated as to 100% of the shares subject to any such equity awards granted to the Executive.

  • Initial Equity Grant No later than 45 days following the Commencement Date, the Company shall take such actions as shall be necessary to grant you the right to purchase (the “Stock Purchase Right”) the number of shares of the Company’s common stock (the “Common Stock”) equal to six percent (6%) of the Company’s outstanding capital stock as of the Commencement Date, calculated based on the Fully Diluted Capitalization of the Company (as defined in the next sentence) at a per-share purchase price equal to the per-share fair market value of the underlying shares on the date of grant, as determined reasonably by the Board in good faith. For the purposes of this Agreement, “Fully Diluted Capitalization” includes all outstanding shares of capital stock plus all shares subject to issuance under outstanding options or warrants plus all shares of capital stock reserved for future issuance under the Company’s 2007 Stock Incentive Plan (the “Plan”) that are not subject to outstanding options or other equity awards plus, to the extent not already included in the foregoing, all shares purchased by you, or subject to your right to purchase, pursuant to this Section 3(d) and Section 3(f). The Stock Purchase Right will be granted under the Plan. Any shares of Common Stock purchased upon exercise of the Stock Purchase Right (the “Restricted Stock”) shall be subject to a right of repurchase in favor of the Company at the original purchase price thereof (the “Right of Repurchase”). The Restricted Stock shall vest, and the Right of Repurchase lapse, with respect to thirty-three and one-third percent (33 1/3%) of the total shares of Restricted Stock on the first anniversary of the Commencement Date and with respect to 1/36th of such shares of Restricted Stock on each monthly anniversary of the Commencement Date thereafter so that the Restricted Stock shall be fully vested and the Right of Repurchase fully lapsed on the third anniversary of the Commencement Date, in each case, subject to your continued service to the Company hereunder except as otherwise provided herein. You will be permitted to purchase the shares of Restricted Stock using a full recourse promissory note, equal to the value of the entire purchase, in a form attached hereto as Exhibit A, to the Company bearing an interest rate equal to the Applicable Federal Rate. The Restricted Stock shall be subject to the terms of the Plan and a restricted stock purchase agreement (the “Restricted Stock Purchase Agreement”) in the form attached hereto as Exhibit B to be entered into between you and the Company.

  • Annual Equity Award With respect to each Company fiscal year commencing during the Term, the Executive shall be eligible to receive an annual equity compensation award (each such award, an “Annual Equity Award”). The form and terms and conditions of each Annual Equity Award shall be determined by the Board (or the Compensation Committee of the Board) in its discretion and shall be set forth in one or more written award agreements between the Company and the Executive.

  • Annual Equity Awards Following the first anniversary of the Effective Date, Executive will be granted annual equity awards in an amount determined by the Board. Such awards may be in the form of options, restricted stock units, performance shares, or any other form as approved by the Board.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Long-Term Compensation Including Stock Options, and Benefits, Deferred Compensation, and Expense Reimbursement.

  • Annual Equity Grant During the first fiscal quarter of each year, or such other time as the Board, in its discretion, may determine, the Employee will receive an annual equity grant with a target value, measured as of the grant date, equal to the percentage of the Employee’s Salary determined by the Board or its designated committee, which for 2021 shall be 65% (the “Annual Equity Grant”). One-half of the Annual Equity Grant is expected to be in the form of restricted stock units or restricted share units with no performance restrictions or metrics associated with them, and which are expected to vest in three equal increments on each of the first, second and third anniversaries of the grant date. The other one-half of the Annual Equity Grant is expected to be in the form of performance shares or performance restricted stock units, which will have Board-determined performance restrictions and metrics associated with them. The determination of how many of those performance shares or performance restricted stock units have been earned will be made by the Board on or about the first anniversary of the grant date, based on the financial performance of the Company during the prior fiscal year, and any performance shares or performance stock units deemed by the Board to be earned are expected to vest in two equal increments on or about each of the second and third anniversaries of the grant date. Notwithstanding any other provision of this Agreement to the contrary, the determination of whether and when to make any Annual Equity Grant to Employee, and the design, nature and amount of any such Annual Equity Grant, shall be determined by the Board in its discretion. All Annual Equity Grants to Employee shall be subject to the terms of the grant agreement between Employer and Employee. In the event of a Change of Control, the Board or its designated committee will determine the manner in which any unvested restricted shares, performance shares, restricted stock units or other unvested equity grants will be treated, with respect to the amount and timing of the vesting of such unvested equity, to the extent that the same is not already addressed in the terms of the applicable grant agreement between the Employer and Employee.

  • Equity Incentive Compensation During the term of employment hereunder the Executive shall be eligible to participate, in an appropriate manner relative to other senior executives of the Parent and its subsidiaries, in any equity-based incentive compensation plan or program approved by the Board from time to time, including (but not by way of limitation) any plan providing for the granting of (a) options to purchase stock of the Parent, (b) restricted stock of the Parent or (c) similar equity-based units or interests.

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