STOCK OWNERSHIP PLAN Sample Clauses

STOCK OWNERSHIP PLAN. You will be eligible to participate in the Stock Ownership Plan which Draxis shall from time to time make available to employees, subject to applicable eligibility rules thereof and in accordance with the terms and conditions of that plan.
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STOCK OWNERSHIP PLAN. The Company shall take all action -------------------- necessary so that all restrictions applicable to each award of Company Restricted Stock held by a Spinco Participant that is outstanding as of the Distribution Date shall terminate effective immediately before the Distribution and certificates representing the shares subject thereto, as well as certificates representing the related shares of Company Common Stock on deposit, are immediately distributed to such Spinco Participant (together with certificates for any Spinco Common Stock distributed with respect thereto in the Distribution).
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STOCK OWNERSHIP PLAN. The employee will be credited with satisfying the requirement under the Stock Ownership Plan of having committed to the ownership of 2,000 shares of stock.
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STOCK OWNERSHIP PLAN. 2 7. Employee Participation Share Purchase Plan ..........................2 8.
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STOCK OWNERSHIP PLAN. Following the Closing, the Company and the trustees of the Company's Stock Ownership Plan shall take, or cause to be taken, all action necessary to promptly terminate the Stock Ownership Plan and dissolve the Stock Ownership Plan trust; provided, however, that such termination and dissolution shall not occur prior to the registration of the Shares of Parent Company Stock issued to the Stock Ownership Plan pursuant to the Merger and the removal of all restrictions on the sale or disposition of such Shares.
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STOCK OWNERSHIP PLAN. The Company shall adopt a Stock Ownership Plan (the “Plan”) pursuant to which the Board of Directors of the Company shall be eligible to issue awards of stock options, restricted stock and other equity awards to employees, officers, directors and consultants to the Company. An aggregate of 7,500,000 shares of Common Stock shall be eligible for award grants under the Plan and it is anticipated that an aggregate of 2,222,539 shares of Common Stock will be allocated and reserved for issuance as restricted stock or stock options to Executive Officers and employees of the Company in connection with the Reorganization (the “Plan Shares”), with an additional 1,762,261 shares of Common Stock (the “Milestone Shares”) to be issued upon the earlier of achieving annualized revenue run rate milestones of $5 million no later than September 30, 2008 or $10 million by June 30, 2009 in accordance with Exhibit F hereto (the “Target Revenues”).
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STOCK OWNERSHIP PLAN. The Employee will be credited with ownership rights of these Restricted Shares which can be credited towards ownership requirements under the Stock Ownership Plan.
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Related to STOCK OWNERSHIP PLAN

  • Employee Stock Ownership Plan The Executive will be eligible to participate in the Company’s Employee Stock Ownership Plan (“ESOP”), subject to the terms and conditions of the ESOP.

  • Stock Ownership Attached hereto as Schedule 8 is a true and correct list of all the duly authorized, issued and outstanding stock of each Subsidiary and the record and beneficial owners of such stock. Also set forth on Schedule 8 is each equity Investment of the Borrower and each Subsidiary that represents 50% or less of the equity of the entity in which such investment was made.

  • Stock Ownership Guidelines Executive will comply with all stock ownership and stock retention guidelines or policies established by the Board and the Committee, as in effect from time to time.

  • Stock Ownership Requirements If the Recipient is subject to any stock ownership requirements imposed by the Company, those requirements may limit the Recipient’s ability to sell or otherwise transfer some or all of the shares of CDI Stock which may be acquired by the Recipient in connection with this Grant.

  • Privilege of Stock Ownership The holder of this option shall not have any of the rights of a shareholder with respect to the Option Shares until such individual shall have exercised the option and paid the Option Price.

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

  • ESOP As soon as practicable and in no event later than five (5) Business Days before Closing, 3rd Fed Bank shall adopt an amendment to the ESOP (the “ESOP Amendment”) consistent with the ESOP plan document at Section 8.2(c) as in effect as of the date of this Agreement providing that, upon the Closing and subject to the consummation of the Merger, (i) the ESOP shall be terminated as of the Closing Date, (ii) no new participants shall be admitted to the ESOP after the Closing, (iii) all ESOP participants’ accounts shall be fully vested and 100% non-forfeitable on and after the Closing, and (iv) to the extent feasible, but in no case prior to the Determination Date, the Trustee of the ESOP shall sell prior to the Effective Time a number of shares of TF Financial Common Stock held in the ESOP suspense account to the extent necessary to obtain cash proceeds at least equal to the remaining ESOP indebtedness, and to the extent that such per share sale price for such ESOP shares is less than the per share Cash Consideration for such shares, then TF Financial shall make an additional cash contribution to the ESOP so that the ESOP Trust shall not receive less than the per share Cash Consideration for such shares sold prior to the Effective Time; (v) in the event the cash sales proceeds from the TF Financial Common Stock in the ESOP suspense account are less than the then outstanding ESOP indebtedness, TF Financial or 3rd Fed Bank shall make an additional cash contribution to the ESOP so that the suspense account has sufficient cash to repay the then outstanding ESOP indebtedness; (vi) the ESOP Trustee shall use the cash proceeds from the sale of such TF Financial Common Stock and any cash contribution required by clause (v) above to repay in full all outstanding ESOP indebtedness, and (vii) the ESOP shall be terminated in accordance with Section 8.2(c) of the ESOP plan document as in effect as of the date of the Agreement, including that all employer contributions, dividends on company stock and earnings on participant account assets paid to the ESOP Trust or earned by the ESOP Trust since the most recent valuation date shall be allocated to the accounts of all ESOP participants as of the date of termination of the ESOP as if it were the next valuation date in accordance with the provisions of the ESOP; and all assets realized by the ESOP Trust with respect to any company stock remaining as collateral on any acquisitions loans which shall be exchanged in the Merger after repayment of all exempt loans shall have been made shall be allocated as ESOP Trust earnings to the accounts of all participants pro rata based on the total value of assets allocated to each participant’s account as a percentage of the total value of all assets allocated to all participant accounts held in the ESOP Trust as of the date of termination of the ESOP. 3rd Fed Bank shall continue to accrue and make contributions to the ESOP for the plan year ending as of the date of termination of the ESOP in accordance with the share acquisition loan amortization schedule in effect as of the date of this Agreement, including a pro rata contribution for any partial contribution period ending as of the termination date of the ESOP to the extent necessary for the ESOP Trustee to meets its obligations under the loan amortization schedule.

  • Savings Plan Executive will be eligible to enroll and participate, and be immediately vested in, all Company savings and retirement plans, including any 401(k) plans, as are available from time to time to other key executive employees.

  • Stock Purchase Plan Through the Distribution Date, Roxio Employees shall continue to be eligible for participation in the Adaptec Stock Purchase Plan. Effective on or before the Distribution Date (or such other date as Adaptec and Roxio may mutually agree), Roxio shall establish and sponsor a Stock Purchase Plan for the benefit of Roxio Employees. Effective as of the Distribution Date, Roxio Employees shall cease to be eligible to participate in and to have any further payroll deductions withheld pursuant to the Adaptec Stock Purchase Plan.

  • Privileges of Stock Ownership Optionee shall have no rights as a shareholder with respect to the Bancorp’s stock subject to this option until the date of issuance of stock certificates to Optionee. Except as provided in the Plan, no adjustment will be made for dividends or other rights for which the record date is prior to the date such stock certificates are issued.

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