Initial Grant of Restricted Stock Units Sample Clauses

Initial Grant of Restricted Stock Units. Immediately subsequent to the filing of a Form S-8 by Parent, which filing shall be made by Parent as soon as reasonable possible after the Closing Date, Parent shall grant an award of restricted stock units in respect of 200,000 shares of Parent Stock, which shall be subject to the terms and conditions of the Xxxx Health, Inc. 2021 Plan and an equity award agreement substantially in the form of the Restricted Stock Unit Award Agreement attached hereto as Exhibit D.
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Initial Grant of Restricted Stock Units. Effective upon the consummation of the transactions contemplated by the Business Combination Agreement (the “Closing Date”) and immediately subsequent to the filing of a Form S-8 by Parent, which filing shall be made by the Company as soon as reasonably possible after the Closing Date, the Executive will receive a grant of restricted stock units (the “Initial Restricted Stock Units”) for a number of shares of class A common stock of Parent (“Parent Stock”) with an aggregate value of $5,000,000 based on the closing price of one share of Parent Stock as of the Effective Date. The Initial Restricted Stock Units will be subject to the terms and conditions of the Xxxx Health, Inc. 2021 Stock Option and Incentive Plan (the “2021 Plan”) then in effect and the applicable equity award agreement (the “Equity Documents”), and shall be subject to time-based vesting over four years whereby 25% of the Initial Restricted Stock Units shall vest on each annual anniversary of the Effective Date, subject to the Executive’s continued employment with the Company at each vesting date, such that the Initial Restricted Stock Units shall be fully vested upon the fourth (4th) anniversary of the Effective Date.
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Initial Grant of Restricted Stock Units. The Company will recommend to the Committee that it grant Executive Restricted Stock Units (the “New Hire RSUs”) equal in value to Two Million Five Hundred Thousand Dollars ($2,500,000) as Executive’s initial new hire grant. It will be recommended that the number of New Hire RSUs Executive receives will be determined by dividing the value amount by the average closing price of a share of Company Common Stock for the 30-day period prior to the grant approval date. The New Hire RSUs will be scheduled to vest as to one third of the total number of units on the first market trading day on or after each of three anniversaries of the grant date, subject to Executive’s continued service with the Company through each such vesting date. The New Hire RSUs will be subject to the terms, definitions, and conditions, including vesting requirements, of the Company’s 2013 Equity Incentive Plan (the “2013 Equity Plan”) and/or the Company’s 2018 Inducement Plan (the “2018 Inducement Plan”) and a restricted stock unit agreement between Executive and the Company (the “New Hire RSU Agreement”), both of which are incorporated herein by reference. No right to any stock is earned or accrued until such time that vesting occurs, nor does the xxxxx xxxxxx any right to continued vesting or employment.
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Initial Grant of Restricted Stock Units. The Company hereby grants to the Participant an Award of restricted stock units (each, a “Restricted Stock Unit”), on the terms and conditions set forth in the Plan and this Award Agreement, subject to adjustment as set forth in the Plan.
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Initial Grant of Restricted Stock Units. Immediately subsequent to the filing of a Form S-8 by the Company, which filing shall be made by the Company as soon as practicable after the Effective Date, the Company shall grant Executive an award of restricted stock units in respect of shares of Stock (“RSUs”) with an aggregate value of US$1,600,000 based on the closing price of the Stock on the Applicable Exchange (as defined in the 2021 Plan) on the date of grant of such RSUs, which shall be subject to the terms and conditions of the 2021 Plan and an equity award agreement to be entered into between the Company and Executive on the Effective Date. The initial grants covered by Sections 2.03(a) and (b) of this Agreement are referred to collectively herein as the “Initial Grants”.
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Initial Grant of Restricted Stock Units. Immediately subsequent to the filing of a Form S-8 by the Company, which filing shall be made by the Company as soon as practicable after the Effective Date, the Company shall grant Executive an award of restricted stock units in respect of shares of Stock (“RSUs”) with an aggregate value of US$507,500 based on the closing price of the Stock on the Applicable Exchange (as defined in the 2021 Plan) on the grant date or, if there were no sales on such date, on the closest preceding date on which there were sales of shares of Stock, rounded down to the nearest share of Stock, which shall be subject to the terms and conditions of the 2021 Plan and an equity award agreement to be entered into between the Company and Executive as of such grant date. The initial grants covered by Sections 2.03(a) and (b) of this Agreement are referred to collectively herein as the “Initial Grants”.
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Initial Grant of Restricted Stock Units. Effective upon the consummation of the transactions contemplated by the Business Combination Agreement (the “Closing Date”) and immediately subsequent to the filing of a Form S-8 by Parent, which filing shall be made by the Company as soon as reasonably possible after the Closing Date, the Executive will receive a grant of restricted stock units (the “Initial Restricted Stock Units”) for a number of shares of class A common stock of Parent (“Parent Stock”) with an aggregate value of $5,000,000 based on the closing price of one share of Parent Stock as of the Effective Date. The Initial Restricted Stock Units will be subject to the terms and conditions of the Xxxx Health, Inc. 2021 Stock Option and Incentive Plan then in effect and the applicable equity award agreement (the “Equity Documents”),
Sample 1
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Initial Grant of Restricted Stock Units. As a material inducement to Executive accepting employment with the Company, the Company will recommend to the Committee that it grant Executive 200,000 Restricted Stock Units (the “New Hire RSUs”) as Executive’s initial new hire grant. The New Hire RSUs will be scheduled to vest as to one third of the total number of units on the first market trading day on or after each of three anniversaries of the grant date, subject to Executive’s continued service with the Company through each such vesting date. The New Hire RSUs will be subject to the terms, definitions, and conditions, including vesting requirements, of the Company’s 2022 Equity Incentive Plan (the “2022 Equity Plan”) and/or the Company’s 2018 Inducement Plan (the “2018 Inducement Plan”) and a restricted stock unit agreement between Executive and the Company (the “New Hire RSU Agreement”), both of which are incorporated herein by reference. No right to any stock is earned or accrued until such time that vesting occurs, nor does the xxxxx xxxxxx any right to continued vesting or employment.
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Related to Initial Grant of Restricted Stock Units

  • Grant of Restricted Stock Units The Corporation hereby awards to Participant, as of the Award Date, restricted stock units under the Plan. The number of shares of Common Stock underlying the awarded restricted stock units and the applicable service vesting requirements for those units and the underlying Shares are set forth in the Award Notice. The remaining terms and conditions governing the Award shall be as set forth in this Agreement.

  • Grant of Restricted Stock Award The Restricted Stock Award will be in the form of issued and outstanding shares of Stock that will be either registered in the name of the Participant and held by the Company, together with a stock power executed by the Participant in favor of the Company, pending the vesting or forfeiture of the Restricted Stock, or registered in the name of, and delivered to, the Participant. Notwithstanding the foregoing, the Company may in its sole discretion, issue Restricted Stock in any other format (e.g., electronically) in order to facilitate the paperless transfer of such Awards. If certificated, the certificates evidencing the Restricted Stock Award will bear a legend restricting the transferability of the Restricted Stock. The Restricted Stock awarded to the Participant will not be sold, encumbered hypothecated or otherwise transferred except in accordance with the terms of the Plan and this Agreement.

  • Grant of Restricted Stock Unit Award The Company hereby grants to the Participant, as of the Grant Date specified above, the number of RSUs specified above. Except as otherwise provided by the Plan, the Participant agrees and understands that nothing contained in this Agreement provides, or is intended to provide, the Participant with any protection against potential future dilution of the Participant’s interest in the Company for any reason, and no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of the shares of Common Stock underlying the RSUs, except as otherwise specifically provided for in the Plan or this Agreement.

  • Grant of Restricted Share Units Subject to all of the terms and conditions of this Award Agreement and the Plan, the Company hereby grants to the Participant [ ] Class A restricted share units (the “RSUs”).

  • Payment of Restricted Stock Units Payment of Restricted Stock Units that vest pursuant to this Section shall be made in Shares (or, if applicable, settlement in the same consideration paid to the stockholders of the Company pursuant to the Change in Control), as soon as practicable following the applicable vesting date. The Restricted Stock Units are intended to be exempt from application of Section 409A of the Code, and any ambiguities set forth herein shall be interpreted accordingly. However, to the extent that an exemption is not available and the Restricted Stock Units are “deferred compensation” subject to the requirements of Section 409A of the Code, the following provisions shall apply and shall supersede anything to the contrary set forth herein and in the Plan to the extent required for the settlement of the Restricted Stock Units to comply with the requirements of Section 409A of the Code. In a Change in Control or Corporate Transaction the Award must be assumed, continued or substituted by the Surviving Corporation or the Parent Corporation and any Shares scheduled to be issued upon an applicable scheduled Vest Date may not be earlier issued unless the Change in Control or Corporate Transaction is also a change in the ownership or effective control of the Company or a change in the ownership of a substantial portion of the assets of the Company as described in Code Section 409A(a)(2)(A)(iv) and an exemption is available and elected under Treasury Regulation 1.409A-3(j)(4)(ix)(B) or such earlier issuance of the Shares is otherwise permitted by Section 409A of the Code. The Company retains the right to provide for earlier issuance of Shares in settlement of the Restricted Stock Units to the extent permitted by Section 409A of the Code.

  • Grant of Restricted Stock Pursuant to, and subject to, the terms and conditions set forth herein and in the Plan, the Committee hereby grants to the Participant 3,250 restricted shares (the “Restricted Stock”) of common stock of the Company, par value $0.01 per share (“Common Stock”).

  • Award of Restricted Stock Units The Company, effective as of the date of this Agreement, hereby grants to Participant an award of Restricted Stock Units, each Restricted Stock Unit representing the right to receive one share of Common Stock on such date as set forth herein, plus an additional amount pursuant to Section 2(b) hereof, subject to the terms and conditions set forth in this Agreement.

  • Settlement of Restricted Stock Units 6.1 Subject to Section 9 hereof, promptly following the vesting date, and in any event no later than March 15 of the calendar year following the calendar year in which such vesting occurs, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock equal to the number of Vested Units; and (b) enter the Grantee’s name on the books of the Company as the shareholder of record with respect to the shares of Common Stock delivered to the Grantee.

  • Vesting of Restricted Stock Units The restrictions and conditions of Section 1 of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule so long as the Grantee remains in a Business Relationship (as defined in Section 3 below) on such Dates. If a series of Vesting Dates is specified, then the restrictions and conditions in Section 1 shall lapse only with respect to the number of Restricted Stock Units specified as vested on such date. Incremental Number of Restricted Stock Units Vested Vesting Date _____________ (___%) ____________ _____________ (___%) ____________ _____________ (___%) ____________ The Administrator may at any time accelerate the vesting schedule specified in this Section 2.

  • Restricted Stock Units Subject to the terms and conditions provided in this Agreement and the Plan, the Company hereby grants to the Grantee restricted stock units (the “Restricted Stock Units”) as of the Grant Date. Each Restricted Stock Unit represents the right to receive a Share of Common Stock if the Restricted Stock Unit becomes vested and non-forfeitable in accordance with Section 2 or Section 3 of this Agreement. The Grantee shall have no rights as a stockholder of the Company, no dividend rights and no voting rights with respect to the Restricted Stock Units or the Shares underlying the Restricted Stock Units unless and until the Restricted Stock Units become vested and non-forfeitable and such Shares are delivered to the Grantee in accordance with Section 4 of this Agreement. The Grantee is required to pay no cash consideration for the grant of the Restricted Stock Units. The Grantee acknowledges and agrees that (i) the Restricted Stock Units and related rights are nontransferable as provided in Section 5 of this Agreement, (ii) the Restricted Stock Units are subject to forfeiture in the event the Grantee’s Continuous Status as an Employee or Consultant or Non-Employee Director terminates in certain circumstances, as specified in Section 6 of this Agreement, (iii) sales of Shares of Common Stock delivered in settlement of the Restricted Stock Units will be subject to the Company’s policies regulating trading by Employees and Consultants, including any applicable “blackout” or other designated periods in which sales of Shares are not permitted, (iv) Shares delivered in settlement will be subject to any recoupment or “clawback” policy of the Company, regardless of whether such recoupment or “clawback” policy is applied with prospective or retroactive effect, and (v) any entitlement to dividend equivalents will be in accordance with Section 7 of this Agreement. The extent to which the Grantee’s rights and interest in the Restricted Stock Units becomes vested and non-forfeitable shall be determined in accordance with the provisions of Sections 2 and 3 of this Agreement.

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