Performance Rights Plan definition
Examples of Performance Rights Plan in a sentence
The Executive may be invited to participate in the Option Plan and the Performance Rights Plan in other years, although participation in the Option Plan and the Performance Rights Plan is entirely at the discretion of the Company.
Subject to any legal or regulatory requirements, including under relevant stock exchange listing rules, the Company will, in March 2003, procure that National Australia Bank Limited offers the Executive the right to be granted 125,000 options under the terms of the Option Plan rules and the right to obtain 31,250 performance rights under the terms of the Performance Rights Plan rules.
These Option Plan rules and the Performance Rights Plan rules will be provided to the Executive upon commencement of Employment.
In addition, MyFiziq will issue up to 1,000,000 Performance Rights to the Employee (or its nominee) on the terms set out in the Company Performance Rights Plan, which will include a separate Offer Letter to the Employee, as well as the Performance Rights to be issued at the key milestone’s below, which shall come with a 12 month escrow/ lock up period.
Grant of Performance Rights over 4,000,000 shares under the terms of the existing Performance Rights Plan approved at the 2017 Annual General Meeting.
All options that have been vested can be retained by the employee upon registration or termination of employment, within the timeframes specified under the now lapsed Employee Performance Rights Plan rules applicable at date of grant.
All options that have vested can be retained by the employee upon resignation or termination of employment, within the timeframe specified under the now lapsed Employee Performance Rights Plan rules applicable at date of grant.
For the avoidance of doubt, nothing in this clause 12.11.2 shall affect any rights that the Seller Group may have pursuant to the National Australia Bank Executive Share Option Plan No. 2 or the National Australia Bank Performance Rights Plan to recover any such income tax and national insurance contributions from an Employee in connection with the exercise of such option or right.
Subject to any legal or regulatory requirements, including under relevant stock exchange listing rules, the Company will, in November 2003, procure that National Australia Bank Limited offers the Executive the right to be granted 50,000 options under the terms of the Option Plan rules and the right to obtain 12,500 performance rights under the terms of the Performance Rights Plan rules.
The terms and conditions of the Vonex Limited Performance Rights Plan are set out below.