Sign-On Award Sample Clauses

Sign-On Award. The Company shall grant to Executive twenty-nine thousand one hundred thirty-seven (29,137) restricted stock units (the “Sign-On Award”). The Sign-On Award shall be granted as soon as practicable following the Effective Date. Subject to the terms of this Agreement and the award agreement(s) into which Executive and the Company shall enter evidencing the grant of the Sign-On Award, the Sign-On Award shall become vested and non-forfeitable on an annual basis ratably over four (4) years.

Sign-On Award. At the first regularly scheduled meeting of the Board after the Agreement Date, Executive shall be granted, under the Plan, and pursuant to the recommendation of the Compensation Committee of the Board (the “Committee”) and the approval of the Board, (i) options to purchase the Company’s common stock in an amount equal to $150,000 valued at the Black-Scholes method (the “Sign-on Options”) and (ii) restricted stock units in an amount equal to $150,000 valued at the closing stock price of the Company’s common stock as of the grant date (the "Sign-on Units” and together with the Sign-On Options, the “Sign-on Awards”). The Sign-On Options shall expire ten (10) years from the grant date. Except as otherwise set forth in and subject to Article III (E) hereof, one-quarter (1/4) of the Sign-On Options and one quarter (1/4) of the Sign-On Units, concurrently, shall vest on each 12-month anniversary date of the grant date, commencing on the first 12-month anniversary date thereof and continuing for three years thereafter, such that full vesting will occur at the end of four years. The exercise price for each share of stock subject to the Sign-On Options shall be the Company’s closing stock price for a share of its common stock on the grant date. All vesting of the Sign-On Awards shall be subject to Executive being employed with the Company on each scheduled vesting date. Notwithstanding the above vesting schedule, all outstanding Sign-On Awards shall become 100% vested in the event of the Executive’s death or total disability (as defined in Article V(D) hereof) while the Executive is employed by the Company. Any future options, restricted stock or other equity grants (“Equity”), if any, will be granted at the sole discretion of the Board.

Sign-On Award. The Company shall grant to Executive equity compensation awards in the form of restricted stock units equal to five and four tenths percent (5.4%) of the Company’s outstanding equity on a fully diluted basis (the “Sign-On Award”). The Sign-On Award shall be granted as soon as practicable following the Effective Date. Subject to the terms of this Agreement and the award agreement(s) into which Executive and the Company shall enter evidencing the grant of the Sign-On Award, the Sign-On Award shall become vested and non-forfeitable over a period of four (4) years from the Effective Date, with twenty-five percent (25%) of the applicable award vesting on the first anniversary of the Effective Date, and twenty-five percent (25%) vesting on each anniversary thereafter. Notwithstanding anything herein to the contrary, seventy-five percent (75%) of the Sign-On Award (whether vested or unvested) shall be forfeited if the Company is sold either by merger or stock purchase, or if substantially all of the assets of the Company are sold, to a Person or group of Persons who has made an offer to the Board prior to June 1, 2015 and such transaction is concluded within six (6) months from the Effective Date.

Sign-On Award. As of the Effective Date, pursuant to an option award agreement between the Company and the Executive that shall be delivered to the Executive promptly following the Effective Date (the “Award Agreement”) the Company shall grant to the Executive an option (an “Option”) to purchase 65,000 shares of the Company’s common stock, par value $0.001 per share (“Common Stock”). The exercise price per share subject to the Option shall be equal to the closing price of a share of Common Stock on the Execution Date. The Option shall become exercisable with respect to 16,250 shares of Common Stock on each of the first four anniversaries of the Effective Date, but shall otherwise be subject to the terms and conditions of the Award Agreement and any applicable plan. Subject to applicable securities laws, as determined by the Company and its counsel, the Executive shall be entitled to exercise the Option cashlessly and the Company shall register the stock subject to Option.

Sign-On Award. On or shortly after the Effective Date, you will be granted the sign-on award stated in your Schedule, which will be subject to the terms and conditions set forth in the applicable award notice. This award is stated on your Schedule in terms of US dollar ($) value. The actual number of restricted stock units you will be granted is calculated by dividing the dollar value of your award by the closing price of the Company’s stock on the New York Stock Exchange on the date of grant.

Sign-On Award. On September 13, 2010, you will be granted 2,500 restricted shares of Company common stock under the Company’s 2005 Long Term Incentive Plan, having such terms and conditions as are set forth in the restricted share award agreement attached to this letter as Exhibit A.

Sign-On Award. As of the Effective Date, you shall receive a number of Restricted Stock Units with a value equal to the amount set forth on Appendix A as your sign-on award (the “Sign-On Award”) on the terms and conditions that are no less favorable than those contained in the Restricted Stock Unit Agreement attached hereto as Exhibit A. The number of shares subject to the Sign-On Award shall be determined by dividing the total value of the Sign-On Award by the Fair Market Value (as defined in the 2006 Stock Incentive Plan) per share on the first trading day prior to the Effective Date.

Sign-On Award. On the Company’s first regularly scheduled pay date coincident with or next following Employee’s start date with the Company, the Company shall pay Employee a single lump sum cash payment equal to $75,000 (the “Sign-on Award”). The Sign-on Award shall be repaid immediately by Employee if Employee terminates voluntarily without Good Reason or is terminated by the Company for Cause within one year following the Effective Date.

Sign-On Award. Executive will be granted on the Effective Date fifty thousand (50,000) stock options (with an exercise price equal to the average of the high and low sales prices of the SGC’s common stock on the trading day immediately prior to the grant date) under the SGC 2003 Incentive Compensation Plan, as amended and restated (or any successor plan) (the “Plan”), pursuant to an equity award agreement to be provided by the Company entered into by and between SGC and Executive (the “Equity Award Agreement”) (the “Sign-On Option Award”). The Equity Award Agreement shall provide that the Sign-On Option Award shall vest and become exercisable with respect to twenty-five percent (25%) of the shares of SGC common stock subject to such Sign-On Option Award on each of the first four anniversaries of the date of grant of the Sign-On Option Award, subject to any applicable provisions relating to accelerated vesting and forfeiture as described in this Agreement, the Equity Award Agreement or the Plan. Notwithstanding anything contained in this Agreement, the Equity Agreement or the Plan to the contrary, the stock options comprising the Sign-On Option Award shall not be exercisable except to the extent that sufficient shares (as reasonably determined by the Compensation Committee in light of outstanding awards) are available under the applicable Plan for the delivery of the shares issuable upon exercise of such stock options.

Sign-On Award. Upon approval by the Board and the Committee, the Corporation shall grant to the Employee the number of RSUs set out in the Compensation Schedule; provided that: (i) Such award has received all such approvals as may be required under the Corporation’s financing documents as at the Effective Date (if any). (ii) The grant date shall be one hundred eighty (180) days after the Effective Date. (iii) 50% to vest on the grant date and the remaining 50% to vest at 1 year following the Effective Date. (iv) For purposes of this Section 3.1(d), Common Shares to be issued as part of the Sign-on Award (if any) (“Award Shares”) will be valued in accordance with Fair Market Value and shall be subject to a share trade lock up period of one (1) year and one day following the Effective Date, which share trade lock up period may be extended in the event that the share trade lock up period mandated by the Corporation’s financing documents as at the Effective Date has not yet expired; (v) In the event that the Employee’s employment is terminated by the Corporation for Cause or by the Employee without Good Reason within one (1) year following the Effective Date (“Clawback Event”), the Employee shall (a) forfeit the Sign-on Award to the Corporation as at the effective date of termination and (b) PBM shall be entitled to (but not obliged to) cancel any Award Shares granted to the Employee on the following basis: A. PBM shall, if it so elects, deliver written notice of its election to cancel the Award Shares; B. The Employee shall be deemed to have consented to the cancelation or surrender of the Award Shares, and all of his rights and entitlements in respect thereof, as at the effective date of termination date; C. The Employee shall not be entitled to any compensation in respect of the canceled/surrendered Award Shares; D. The share certificate or certificates or direct registration statement or statements, if any, representing the Award Shares shall be delivered to the Corporation immediately against receipt of the abovementioned notice; ​ ​ E. Should the Employee fail to deliver the documents referred to above, then any director of PBM (from time to time) shall be irrevocably and in rem suam appointed as the attorney and agent of the defaulting Employee to sign the necessary cancellation forms and PBM shall be entitled to cancel the share certificate/s representing the Award Shares themselves on PBM’s books and records.