Examples of Retention Option in a sentence
Thereafter, provided that you remain continuously employed by the Company, the Retention Option will vest in six equal monthly installments on the last day of each month starting on the Target Date.
You shall also be required to pay to the Company the amount of all Retention Option Gain upon the occurrence of those certain events described in Section 11(b) of the Employment Agreement.
If your employment with the Company is terminated for any reason, then the Retention Option shall cease vesting from the date of such termination.
Recipient shall have no rights as a shareholder with respect to the Shares covered by any installment of this Retention Option until the effective date of issuance of the Shares following exercise of this Retention Option, and no adjustment will be made for dividends or other rights for which the record date is prior to the date such stock certificate or certificates.
Thereupon, Recipient shall have the right at any time within 120 days of the Termination Date the then remaining exercise period of such vested options to exercise this Retention Option to the extent vested and purchase Shares, to the extent, but only to the extent, that Recipient could have exercised this Retention Option as of the Recipient Termination Date; following the expiration of the remaining option period this Agreement shall terminate in its entirety and be of no further force or effect.
This Retention Option is not transferable by the Recipient, except as contemplated by Section 8 of this Agreement.
The Board or a duly appointed committee thereof, may modify, extend or renew this Retention Option or accept the surrender thereof (to the extent not theretofore exercised) and authorize the granting of a new option in substitution therefore (to the extent not theretofore exercised), subject at all times to the Code and applicable securities laws.
In the year ended 30 June 2019, we recorded $4,825,270 as receivable with respect to funds we will receive in relation to the 2019 financial year under the research and development incentive scheme.Financial position and capital resourcesAs at 30 June 2019, the Group had cash reserves of $14,399,904 (30 June 2018: $15,235,556).
Any notice required to be given pursuant to this Retention Option or the Plan shall be in writing and shall be deemed to be delivered upon receipt or, in the case of notices by the Company, five (5) days after deposit in the U.S. mail, postage prepaid, addressed to Recipient at the address last provided by Recipient for use in Company records related to Recipient.
Subject to the early termination provisions set forth in Sections 7 and 8 of this Agreement, this Retention Option shall expire, and all rights hereunder to purchase the Shares shall terminate 5 years from the Grant Date.