Award Option definition

Award Option means the right to acquire Award Shares upon exercise of the Award Options. Each Award Option represents the right to acquire upon exercise of the Award Option one Award Share (as adjusted for stock dividends, stock splits, reverse splits, recapitalizations ad similar events in accordance with the provisions of the Plan).
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Examples of Award Option in a sentence

  • Except as otherwise provided herein, each Option Agreement may specify the period or periods of time within which each Option or portion thereof will first become exercisable (the "Vesting Period") with respect to the total number of shares of Option Stock called for thereunder (the "Total Award Option Stock").

  • Likewise, at the conclusion of year five, the Government will prepare a "Contractor Assessment Report/Performance Indicators and Standards" and a summary report of year five to determine if the Award Option for year seven has been earned.] The advance evaluation of performance is required to allow adequate time for recompetition of the requirement in the event that Contractor performance does not meet the Award Option requirements.

  • The Award Option determination and the methodology for determining the award option are unilateral decisions made solely by the Government and are not subject to dispute.

  • If the Contractor does not earn the first Award Option, there will be no opportunity to earn subsequent Award Option(s) and the contract expiration date will remain unchanged.

  • A unilateral contract modification to add the Award Option may be issued when scoring meets or exceeds that set forth in the contract.

  • This summary report will be used to determine if the Award Option for year six has been earned.

  • In years four and five, the Contractor must receive an average of 3.8 or better in each year to earn the Award Option.] These goals are intended to be a stretch for the Contractor, but achievable.

  • If the Contracting Officer determines that the standards for the Award Option have been met, and the Government exercises its option, the estimated cost [plus fixed fee] will be increased as set forth in the ESTIMATED COST, [FIXED FEE] AND AWARD TERM Article in SECTION B of this contract.

  • The Award Option evaluation serves as a precursor to the Government exercising its unilateral rights in accordance with FAR Part 17.2. A successful Award Option evaluation precedes the Government's review and determination to exercise or not to exercise the Award Option, in accordance with FAR Part 17.2. There is no guarantee the Government will continue Performance beyond the base performance period.

  • The Award Option earned will be determined based upon review of the Contractor's performance against the performance indicators and standards as follows: [ Using the 0-5 point score in the Plan, the Contractor must receive an average of 3.5 or better for the first three years of Contractor performance.

Related to Award Option

  • Phantom Stock Award Agreement means a written agreement between the Company and a Holder with respect to a Phantom Stock Award.

  • Restricted Stock Unit Award Agreement means a written agreement between the Company and a holder of a Restricted Stock Unit Award evidencing the terms and conditions of a Restricted Stock Unit Award grant. Each Restricted Stock Unit Award Agreement will be subject to the terms and conditions of the Plan.

  • Appreciation Award means any Award under this Plan of any Stock Option, Stock Appreciation Right or Other Stock-Based Award, provided that such Other Stock-Based Award is based on the appreciation in value of a share of Common Stock in excess of an amount equal to at least the Fair Market Value of the Common Stock on the date such Other Stock-Based Award is granted.

  • Performance Share Award means an Award entitling the recipient to acquire shares of Stock upon the attainment of specified Performance Goals.

  • Phantom Stock Award means an Award granted under Paragraph X of the Plan.

  • Performance Stock Award means a Stock Award granted under the terms and conditions of Section 6(c)(i).

  • Performance Shares means Shares or an Award denominated in Shares which may be earned in whole or in part upon attainment of performance criteria established by the Administrator.

  • Performance Award Agreement means a written agreement between the Company and a Holder with respect to a Performance Award.

  • Stock Award Agreement means a written agreement between the Company and a holder of a Stock Award evidencing the terms and conditions of an individual Stock Award grant. Each Stock Award Agreement shall be subject to the terms and conditions of the Plan.

  • Share Award means an Award of Shares granted pursuant to Section 10.

  • 3(i) Award means an Award granted pursuant to Section 3(i) of the Ordinance to any person who is a Non- Employee.

  • Restricted Stock Award Agreement means a written agreement between the Company and a holder of a Restricted Stock Award evidencing the terms and conditions of a Restricted Stock Award grant. Each Restricted Stock Award Agreement will be subject to the terms and conditions of the Plan.

  • option-based award means an award under an equity incentive plan of options, including, for greater certainty, share options, share appreciation rights, and similar instruments that have option-like features;

  • RSU Award Agreement means a written agreement between the Company and a holder of a RSU Award evidencing the terms and conditions of a RSU Award grant. The RSU Award Agreement includes the Grant Notice for the RSU Award and the agreement containing the written summary of the general terms and conditions applicable to the RSU Award and which is provided to a Participant along with the Grant Notice. Each RSU Award Agreement will be subject to the terms and conditions of the Plan.

  • SAR means a stock appreciation right granted under the Plan.

  • SARS means the South African Revenue Service.

  • Restricted Share Unit Award means a right to receive Ordinary Shares which is granted pursuant to the terms and conditions of Section 6(b).

  • Performance Unit Award means an award of Performance Units under this Plan.

  • Other Stock Award Agreement means a written agreement between the Company and a holder of an Other Stock Award evidencing the terms and conditions of an Other Stock Award grant. Each Other Stock Award Agreement will be subject to the terms and conditions of the Plan.

  • Share Appreciation Right means the right pursuant to an Award granted under Section 8 below to receive an amount equal to the excess, if any, of (i) the aggregate Fair Market Value, as of the date such Award or portion thereof is surrendered, of the Shares covered by such Award or such portion thereof, over (ii) the aggregate Exercise Price of such Award or such portion thereof.

  • Tandem Appreciation Right means an Appreciation Right granted pursuant to Section 5 of this Plan that is granted in tandem with an Option Right.

  • Stock Unit Award means a right to receive shares of Common Stock which is granted pursuant to the terms and conditions of Section 7(c).

  • Performance Share Units means Performance Share Units granted to an Eligible Individual under Section 9.1(b).

  • Plan Share Award or "Award" means a right granted to a Participant under this Plan to earn or to receive Plan Shares.

  • RSU means a restricted stock unit granted under the Plan, which represents an unfunded and unsecured promise to deliver shares of Common Stock in accordance with the terms of the RSU Award Agreement.