Subsequent Grants. Subsequent grants will be processed in accordance with the requirements set forth in this part. The initial and subsequent grants made to complete a previously approved project must com- ply with the maximum grant require- ments set forth in§ 1784.8(f) of this part.
Subsequent Grants. Upon the occurrence of each of the following events occurring (x) any time during Xxxxxx’x term of service, or (y) within twelve (12) months after the effective date of the termination of Xxxxxx’x service other than by Xxxxxx’x involuntary resignation or for Cause, the Company will issue to Xxxxxx the cumulative number of shares of common stock (the “Subsequent Grants”):
(A) upon the Company’s attainment of market capitalization of $100,000,000 or more, 100,000 shares of fully-vested common stock;
(B) upon the Company’s attainment of market capitalization of at least $200,000,000 or more, the shares specified under subsection (a)(ii)(A) to the extent not yet issued, plus 200,000 shares of fully-vested common stock;
(C) upon the Company’s attainment of market capitalization of $300,000,000 or more, the shares specified under subsections (a)(ii)(A) and (B) to the extent not yet issued, plus 300,000 shares of fully-vested common stock;
(D) upon the Company’s attainment of market capitalization of $400,000,000 or more, the shares specified under subsections (a)(ii)(A), (B) and (C) to the extent not yet issued, plus 400,000 shares of fully-vested common stock; and
(E) upon the Company’s attainment of market capitalization of $500,000,000 or more, the shares specified under subsections (a)(ii)(A), (B), (C) and (D) to the extent not yet issued, plus 500,000 shares of fully-vested common stock. By way of example, if, as of the date that the Company’s market capitalization is first measured for purposes of this subsection (a)(ii), the market capitalization is determined to be $350,000,000, Xxxxxx would become entitled to receive 600,000 shares of fully-vested common stock, as the cumulative issuances under subsections (a)(ii)(A), (B) and (C).
Subsequent Grants. Subject to the discretion of the Board of Directors, Executive shall be eligible to receive future grants of stock options or purchase rights from time to time in the future, on such terms and subject to such conditions as the Board shall determine as of the date of any such grant.
Subsequent Grants. On January 1 of each of 2015, 2016, 2017 and 2018, if the Participant has remained in continuous Service until that date (each such date, a “Subsequent Grant Date”), the Company shall grant to the Participant 75,000 Units (each group of Units so granted, the “Subsequent Units”). Except as provided in Section 6, each group of Subsequent Units granted on a Subsequent Grant Date shall become vested and nonforfeitable (i) in installments over three years following the grant thereof in proportions substantially similar to those contained in Section 2(a) hereof and (ii) contingent on the Company’s satisfaction of the performance hurdles as determined by the Company’s Board of Directors at the time of grant thereof. Any Subsequent Units shall be evidenced by an agreement in form and substance as reasonably determined by the Company’s Board of Directors.
Subsequent Grants. During the Employment Period, the Executive shall be eligible to receive equity-based compensation awards and performance awards as approved by the Compensation Committee.
Subsequent Grants. During the term of the Plan, an Eligxxxx Xxrector who has been a Director for at least six months before the date of an annual meeting of shareholders (not including the annual meeting held in calendar year 1995), automatically shall be granted, as of the date of such annual meeting, an additional Option to purchase 10,000 shares of Common Stock. A Participant may hold more than one Option under the Plan.
Subsequent Grants. On the first business day of 2008 and 2009, subject in the case of 2009 to Executive’s continued employment with the Company through such date, the Company granted or shall grant to Executive, as applicable, under the Equity Plan, a number of shares of Restricted Stock with a Fair Market Value of $500,000 (any such grant, a “Subsequent EBITDA Performance-Vesting Restricted Stock Grant”). Each Subsequent EBITDA Performance-Vesting Restricted Stock Grant is or shall be, as applicable, set forth in a Restricted Stock Agreement. As of December 31, 2009, a 0-100% percentage of the shares subject to the Subsequent EBITDA Performance-Vesting Restricted Stock Grant specified (or certified) by the Compensation Committee shall vest and all Restrictions thereon shall lapse, if (and only if) (1) the Company has attained (with a target of 50%) the annual EBITDA growth goals for the first year following the date of the grant (such EBITDA growth goals determined with respect to any Subsequent EBITDA Performance-Vesting Restricted Stock Grant, “Subsequent EBITDA Performance Goals” and, together with the Initial EBITDA Performance Goals, the “EBITDA Performance Goals” and, together with the TSR Performance Goals, the “Performance Goals”) and (2) Executive remains continuously employed with the
Subsequent Grants. Within 30 days of each of the first anniversary and the second anniversary of the Effective Date, or if the Effective Time occurs during the two-month period prior to March 3, 2003, within 30 days after each such anniversary, subject to the approval of the Trustees, provided the Executive is still employed by the Company on each applicable anniversary, the Executive will receive a grant of restricted shares (the "Restricted Shares") pursuant to the Plan, with a value equal to at least $5,500,000, based on the Fair Market Value on the date of the applicable grant. The number of Restricted Shares granted shall be determined by dividing $5,500,000 by the Fair Market Value on the date of the applicable grant. Such Restricted Shares shall vest in equal installments on each of the first three (3) anniversaries of the date of grant, provided the Executive is still employed by the Company on each applicable anniversary. All other terms and conditions of the Restricted Shares will be governed by the Plan. Upon a termination of employment of the Executive by the Company without Cause or by the Executive for Good Reason or by reason of his death or Disability, the Restricted Shares shall immediately vest. To the extent any such grant of Restricted Shares is not approved by the Trustees or would violate rules and regulations under the Plan or applicable law, the Executive will receive a cash bonus equal to such excess amount. The Cash Bonus, if any, will be paid in equal installments on each of the first three (3) anniversaries of the date of grant, provided the Executive is still employed by the Company on each applicable anniversary. Upon a termination of employment of the Executive by the Company without Cause or by the Executive for Good Reason, the Cash Bonus shall immediately vest and be payable.
Subsequent Grants. On and as of each of the first and second anniversary of the date hereof during the term of this Agreement, if as of such date a Termination (as hereinafter defined) has not occurred, Company shall grant to Executive on such date additional options to purchase not less than that number of shares of the Company's Common Stock which is equal to the quotient of (i) the product of (A) the sum of the Salary plus Target Bonus applicable to the immediately preceding twelve (12) month period hereunder, multiplied by (B) three (3), divided by (ii) an amount equal to the greater of (Y) the market price for the Common Stock, as reported by the NASDAQ National Market System, for the ten (10) trading day period immediately prior to the effective date of such grant, and (Z) the market price for the Common Stock, as reported by the NASDAQ National Market System for the effective date of such grant (or the last trading day immediately prior to the effective date of such grant if the effective date is not a trading day). Such options shall be granted on such terms and subject to such conditions as the Company's Compensation Committee shall establish in its discretion; provided, that (i) all such options shall be granted under either the Company's 1993 Executive Stock Option Plan and/or the Company's 1987 Incentive Stock Option Plan, (ii) Executive shall vest in such options ratably over the five (5) year period beginning on the applicable date of grant (subject to immediate vesting in the event of a Termination which falls within the categories described in Section 5(c) hereof), and (iii) such options shall expire ten (10) years after the applicable date of grant.
Subsequent Grants. For each subsequent fiscal year of the Term after the fiscal year in which the Initial Grant is made, the Board may (but shall not be obligated to) grant to you additional options to purchase Common Shares in amounts and exercise prices determined by the Board in its sole discretion ("Subsequent Grants"). The Initial Grant and any Subsequent Grants will become exercisable and be granted pursuant to the Company's Option Plan (the "Option Plan") and will in all respects be subject to the terms and conditions of the Option Plan and any applicable option agreement; provided that to the extent of any inconsistency between this Agreement and the Option Plan or any applicable option agreement, the terms of this Agreement shall control.
