Promotion Award Sample Clauses

Promotion Award. The Executive shall be eligible to receive a promotion award of Two Million Two Hundred and Fifty Thousand Dollars ($2,250,000) (the “Promotion Award”). Seventy-five (75%) of the amount payable under the Promotion Award shall be payable in stock of the Company and 25% of the amount payable shall payable in cash. Provided the Executive remains continuously employed by the Company on a vesting date, the portion of the award becoming vested shall be paid to the Executive. Subject to the continued employment requirement just described, fifty percent (50%) of the Promotion Award shall vest on the first anniversary of the Commencement Date and the remaining fifty percent (50%) shall vest on the second anniversary of the Commencement Date. The vested cash portion of the Promotion Award will be paid in a single lump sum payment, less applicable withholding tax, to the Executive within thirty (30) days of each applicable vesting date. The vested stock portion of the Promotion Award will be delivered to Executive within thirty (30) days of each applicable vesting date. Except as set forth in Section 6(c) or Section 6(d) below, any amount of the Promotion Award that does not vest in accordance with this Section 4(c) shall be forfeited as of the date the Executive terminates employment with the Company.
Sample 1
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Promotion Award. For the Employer’s 2024 fiscal year, the Executive shall receive an award grant of RSUs under the Incentive Plan having a target grant date fair value (as determined by the Committee) of $150,000. Terms and conditions of such awards shall be governed by the terms and conditions of the applicable plan and the applicable award agreements.
Sample 1
Promotion Award. Effective as of no later than the first regularly scheduled meeting of the Compensation Committee following the Promotion Date, Executive will be granted restricted stock units having an aggregate grant date fair value of approximately one million five hundred thousand dollars ($1,500,000) (the “Promotion RSUs”). 100% of the Promotion RSUs will be granted in the form of time-based restricted stock units. The Promotion RSUs will be scheduled to vest as to 1/3rd on each of June 15, 2024, June 15, 2025, and June 15, 2026, in each case, subject to Executive’s continued service with the Company through the applicable vesting date. The Promotion RSUs will be subject to the terms and conditions of the Company’s 2023 Equity Incentive Plan or such other equity incentive plan then maintained by the Company and a restricted stock unit agreement or performance-based restricted stock unit agreement, as applicable, provided by the Company, which will control the Promotion RSU grant, and each of which documents are incorporated herein by reference.
Sample 1
Promotion Award. 1. The District shall award the promotion to the most senior qualified applicant within the seniority department (or classification in the case of Aides). Qualifications for this purpose are defined as the qualifications set forth on the vacancy posting.
Sample 1

Related to Promotion Award

  • Retention Award The Company shall pay the Executive $785,000, plus interest at the rate specified below (the “Retention Award”) in a lump-sum cash payment in July 2014, provided that the Executive remains employed through December 31, 2013. The Retention Award shall be credited with interest based on the Prime Rate of SunTrust Bank, Atlanta. For the avoidance of doubt, if the Executive is employed through December 31, 2013, the Company shall pay the Retention Award in July 2014 without regard for the Executive’s termination of employment for any reason between December 31, 2013 and July 2014.

  • Performance Award You are hereby awarded, on the Grant Date, a Performance Award with a target value of [AMOUNT].

  • Cash Award Subject to Section 2 and provided that you are employed by the Company or one of its affiliates on each applicable payment date set forth below, the Company shall pay you the Cash Award at the following times: (i) one-third (1/3) of the Cash Award on the Closing Date, (ii) one-third (1/3) of the Cash Award on the first anniversary of the Closing Date and (iii) the remaining one-third (1/3) of the Cash Award on the second anniversary of the Closing Date.

  • Option Award The Company hereby awards Grantee an Option to purchase shares of Company common stock, par value $.01 per share (“Shares”), pursuant to this Agreement at an exercise price per Share of $XX.XX, subject to the terms and conditions set forth herein and in the Plan. The Option may not be exercised in whole or in part as of the Grant Date, and becomes exercisable only if and to the extent provided in the following paragraphs and otherwise subject to and in accordance with the Plan.

  • Incentive Award The three (3) year rolling average of earnings growth and Return On Equity (the "XXX") and determined as of December 31 of each plan year shall determine the Director's Incentive Award Percentage, in accordance with the attached Schedule A. The chart on Schedule A is specifically subject to change annually at the sole discretion of the Company's Board of Directors. The Incentive Award is calculated annually by taking the Director's Annual Fees for the Plan Year in which the XXX and Earnings Growth was calculated times the Incentive Award Percentage.

  • Option Awards The Company represents and warrants to the Executive that all shares issued pursuant to any equity award granted to the Executive by the Company, upon issuance to the Executive, will be duly authorized, fully paid and non-assessable. A sufficient number of shares for each such equity award will be properly reserved.

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share Award. 

  • Performance Share Awards On the Performance Share Vesting Date next following the Executive's date of death, the number of Performance Shares that shall become Vested Performance Shares shall be determined by multiplying (a) that number of shares of Company Common Stock subject to the Performance Share Agreement that would have become Vested Performance Shares had no such termination occurred; provided, however, in no case shall the number of Performance Shares that become Vested Performance Shares exceed 100% of the Target Number of Performance Shares set forth in the Performance Share Agreement, by (b) the ratio of the number of full months of the Executive's employment with the Company during the Performance Period (as defined in the Performance Share Agreement) to the number of full months contained in the Performance Period. Vested Common Shares shall be issued in settlement of such Vested Performance Shares on the Settlement Date next following the Executive’s date of death.

  • Long-Term Incentive Award During the Term, Executive shall be eligible to participate in the Company’s long-term incentive plan, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

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