Initial Equity Awards definition

Initial Equity Awards means the issuance of restricted stock units or Ordinary Shares with vesting or other transfer restrictions, in each case, with respect to a number of Ordinary Shares constituting five percent (5%) of the total number of Ordinary Shares issued and outstanding as of immediately following the consummation of the Scheme Acquisition, pursuant to the Equity Incentive Plan.
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Initial Equity Awards shall have the meaning set forth in Section 3(f).
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Initial Equity Awards. As a material inducement to your acceptance of employment with the Company, subject to approval of the Board or the Committee, you shall receive 600,000 restricted stock units (the “RSUs”) subject to the terms and conditions of the Applied Digital Corporation 2024 Omnibus Equity Incentive Plan (the “Plan”) and an award agreement provided by the Company thereunder, or under another equity incentive arrangement adopted by the Company. The RSUs are expected to vest as follows: (i) one-third (1/3rd) of the RSUs shall vest on the one (1)-year anniversary of the later of your commencement of employment and the date of grant (the “Cliff Date”); and (ii) one-sixth (1/6th) of the RSUs shall vest on each six (6) month anniversary of the Cliff Date thereafter (such that the RSUs shall be fully vested on the third anniversary of the Cliff Date), in each case, subject to your continued employment with the Company through the applicable vesting date. Additionally, in the event that you are terminated without Cause within one (1) year following consummation of a Change of Control (as defined in the Plan), fifty percent (50%) of the then-unvested RSUs are expected to accelerate upon such termination. For purposes of this Letter Agreement:
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Examples of Initial Equity Awards in a sentence

  • It is expected that Executive will receive equity awards in each of 2022 and 2023 that are equivalent in value to the Initial Equity Awards, subject to Executive’s and Company’s performance.

  • The Initial Equity Awards will vest ratably on each of the first, second and third anniversary of the grant date, subject to Executive’s continued employment with the Company through each such vesting date.

  • For the avoidance of doubt, the Initial Equity Awards are granted pursuant to the Company’s 2016 Equity Incentive Plan, and subject to their applicable award agreements.

  • For all purposes of this Agreement, “Stock Awards” shall mean any rights granted by the Company to Executive with respect to the common stock of the Company, including, without limitation, the Initial Equity Awards and other stock options, stock appreciation rights, restricted stock, stock bonuses and restricted stock units.

  • It is expected that Executive will receive equity awards in each of 2022 and 2023 that are equivalent in value to the Initial Equity Awards and that Company will grant these awards during the first six months of 2022 and 2023, respectively, subject to Executive’s and Company’s performance.

  • In no event shall any unvested portion of the Initial Equity Awards be cancelled or forfeited without value in connection with a Change of Control.

  • Upon the occurrence of a Sale Event (as defined in the Equity Documents) and provided that Executive is employed by the Company as of the closing date of the Sale Event, then notwithstanding anything in this Agreement to the contrary, the vesting of any unvested portion of any then outstanding Initial Equity Awards held by Executive shall be accelerated and all such awards shall fully vest no later than the date of the Sale Event.

  • We decline the invitation to rely on it as a basis for giving primacy to one dueling PAGA claimant over another.

  • The Initial Equity Awards will vest ratably on each of the first, second and third anniversary of the grant date, subject to Executive’s continued employment with the Company through each such vesting date.Company intends to make annual equity compensation awards and Executive will be eligible for annual equity awards based on Executive’s seniority.

  • The Initial Equity Awards shall vest and become exercisable or nonforfeitable (as applicable) in equal installments on each of the first, second, third, fourth and fifth anniversaries of the Effective Date, subject to the Executive’s continued employment with the Company through the applicable vesting date.

Related to Initial Equity Awards

  • Company Equity Awards means the Company RSU Awards and the Company PSU Awards.

  • Equity Award means all incentive stock options, non-statutory stock options, shares of restricted stock, restricted stock units or other incentive equity awards in respect of shares of the Company’s equity securities that have been or will be granted to you by the Company.

  • Company Stock Options means all options to acquire shares of Company Common Stock from the Company, whether granted pursuant to the Company Stock Plans or otherwise.

  • Company Equity Plans means (i) the Company’s 2014 Equity Incentive Plan as amended and restated from time to time, (ii) the Company’s 2004 Equity Incentive Plan, as amended and restated from time to time and (iii) the Inference Technologies Group Inc. 2018 Equity Incentive Plan, as amended and restated from time to time.

  • SIP means Session Initiation Protocol.

  • Performance Compensation Award means any Award designated by the Committee as a Performance Compensation Award pursuant to Section 11 of the Plan.