Examples of Eligible Plan Participant in a sentence
The Board may grant Options to any Eligible Plan Participant in accordance with such determinations as the Board may, from time to time, in its sole discretion make.
Ownership rights shall vest with the Eligible Plan Participant according to the vesting provision set forth in Option Agreement for the Options granted.
The Board of Directors, in its sole and absolute discretion, is entitled to determine who, if anyone, is an Eligible Plan Participant under this Plan, and which, if any, Eligible Plan Participant shall receive any grant of Stock Option.
Following receipt by an Eligible Plan Participant of an invitation as described above, the Eligible Plan Participant may make an application by delivering to the Company a duly completed and executed application form within the closing time specified in the invitation or in accordance with any other procedure set out in the invitation.
The Board may then decide to accept or reject the offer made by the Eligible Plan Participant.
An Eligible Plan Participant to whom Stock is granted under the terms of the Plan may be required to file appropriate reports with governmental agencies.
All Councils are legally obliged to provide, on an annual basis, a Pay Policy Statement.
The number of Shares to which the Eligible Plan Participant would be entitled will equal the cash bonus that the Eligible Plan Participant would have received but for his/her election to receive Shares, divided by the Fair Market Value of a Share (as defined below) on the date the bonus payment is made.
Except with respect to the acceleration of bonus payments as may be set forth in a Participation Agreement, if an employee or director of the Company or its subsidiaries ceases to be an Eligible Plan Participant prior to any Bonus Payment Date, the bonuses scheduled to be paid to such Plan Participant on or after such Bonus Payment Date shall be forfeited automatically with no further liabilities or obligations of the Company or any of its subsidiaries or affiliates.
The Plan shall terminate upon the distribution of the share certificates named in the Plan to each respective Eligible Plan Participant.