Emergence Grants Clause Samples

The Emergence Grants clause establishes the terms under which grants are provided to support the early development or launch of a project, initiative, or entity. Typically, this clause outlines eligibility criteria, the application process, and the conditions that must be met to receive and retain the grant, such as milestones or reporting requirements. Its core practical function is to facilitate the initial growth or emergence of new ventures by providing targeted financial support, thereby reducing barriers to entry and encouraging innovation.
Emergence Grants. 100% of the RSUs, 100% of the Base Profits Interests and 100% of the Appreciation Profits Interests will be granted as of the Emergence Date, in accordance with this Term Sheet and the allocations set forth on Appendix A and as soon as administratively feasible following the Emergence Date, but in any event not later than 60 days after the Emergence Date (“Emergence Grants”).
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Emergence Grants. At least 40% of the shares of the Company’s common stock subject to the MIP Equity Shares (the “Emergence Grant Pool”) will be allocated within 120 days following the Effective Date (the “Negotiation Period”) in accordance with an allocation schedule to be reasonably determined by the New Board in good faith in consultation with a compensation consultant to be hired by the New Board on or shortly after the Effective Date (the “Compensation Consultant”) and in accordance with this Term Sheet and the Plan (the “Emergence Grants”). • The form of each Emergence Grant will be determined by the New Board in good faith in consultation with the Compensation Consultant.
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Emergence Grants. Emergence Grants equal to 50% of the MIP Pool will be granted to management employees upon Emergence in the form of restricted stock units (“RSUs”) and performance stock units (“PSUs”) in accordance with this Term Sheet and the allocations indicated in Exhibit A (“Emergence Grants”). Emergence Grants will be made 40% in the form of RSUs and 60% in the form of PSUs and will have customary dividend equivalent rights.
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Emergence Grants. On the Emergence Date, Holdco will grant (i) a number of restricted stock units (“RSUs”) and performance stock units (“PSUs”) collectively representing 2.32% of Holdco Common Stock at target as of the Emergence Date and determined on a Fully Diluted Basis (with such RSUs and PSUs having the potential to collectively represent up to 2.99% of Holdco Common Stock as of the Emergence Date and determined on a Fully Diluted Basis, if such PSUs vest at their maximum, as described below), and (ii) a portion of the Cash LTIP Pool in the form of long-term cash incentive awards (such awards, the “Cash LTIP Awards”), in each case, in accordance with this Term Sheet (the “Emergence Grants” and, along with any other grant made under the MIP, an “Award”). 1 Each capitalized term used but not defined herein shall have the meaning ascribed to such term in the Plan Support Agreement to which this Term Sheet is attached.
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Emergence Grants. Fifty-five percent (55%) of the Management Pool will be allocated at Emergence (the “Emergence Grants”) in accordance with this Term Sheet and the allocations set forth on Appendix A. Each Emergence Grant will be 50% in the form of restricted stock units (“RSUs”) and 50% in the form of five (5) year stock options (“Options”) priced at a per share value equating to $513.77 million equity value. •
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Emergence Grants. No less than 65% of the MIP Pool will be granted in the form of restricted stock unit awards (or their equivalent) on the Emergence Date in accordance with this Term Sheet and the allocations indicated in Exhibit A to this Term Sheet (the “Emergence Grants” and, along with any other grant made under the MIP, an “Award”).
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Emergence Grants. Except as specifically set forth in the third succeeding bullet below, 50% of the shares of the Company’s common stock subject to the MIP Pool (the “Emergence Grant Pool”) will be allocated on or as soon as practicable following (but in no event more than 15 days following) the Plan Effective Date in accordance with an allocation schedule to be reasonably determined by the new Board of Directors of the Company (the “New Board”), after good faith consultation with the Company’s Chief Executive Officer (the “Emergence Grants”) in accordance with this MIP Term Sheet. • Each Emergence Grant will be 100% in the form of restricted shares. • The grant of an Emergence Grant to an employee will be subject to and conditioned upon the employee agreeing to be bound by the restrictive covenants (the “Restrictive Covenants”) referenced in the Post-Filing Severance Plan Term Sheet attached hereto as Appendix A (the “New Severance Plan Term Sheet”). • To the extent an employee who is designated to receive an Emergence Grant does not agree to be bound by the Restrictive Covenants, the shares not allocated to such employee shall be transferred from the Emergence Grant Pool to the Other Award Pool.
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Emergence Grants. 50% of the MIP Pool will be granted on the Effective Date in accordance with this Term Sheet and the allocations indicated in Annex A (“Emergence Grants” and, along with any other grant made under the MIP, an “Award”). No less than 40% of the Emergence Grants will be issued in the form of restricted stock units (“RSUs”) and no more than 60% of the Emergence Grants will be issued in the form of 10-year nonqualified stock options (“NQSOs”). The exercise price of NQSOs will be determined based on the equity value of the Company under the Plan.
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Related to Emergence Grants

  • Equity Grants Employer will recommend at the first meeting of the Board of Directors of Employer (the “Board”) following the Services Start Date that Employer grant Executive (i) 25,000 restricted stock units and (ii) an option to purchase 100,000 shares of the Employer’s Common Stock at a price per share equal to the fair market value per share of the Common Stock on the effective date of grant (which shall be established in accordance with the Board’s policies) (collectively, the “Initial Grants”). The restricted stock units will vest over three (3) years, with one-third of the restricted stock units vesting on each of the three anniversaries following the Services Start Date. One-third (33.34%) of the shares subject to the option shall vest on the one (1) year anniversary of the Services Start Date (the “Anniversary Date”), and the remaining shares shall vest monthly over the next 24 months in equal monthly amounts subject to Executive’s continuing employment with Employer. In addition, Employer will recommend at the first meeting of the Board following the Anniversary Date that Employer grant Executive an additional option to purchase 90,000 shares of the Employer’s Common Stock at a price per share equal to then fair market value per share of the Common Stock on the effective date of such grant (which shall be established in accordance with the Board’s policies) (such grant, the “Anniversary Grant” and, together with the Initial Grants, the “Grants”). The Anniversary Grant shall vest monthly over the 24 months following the Anniversary Date such that the Anniversary Grant shall be fully vested two (2) years following the Anniversary Date, subject to Executive’s continuing employment with Employer. The Grants shall be subject to the terms and conditions of Employer’s 2006 Equity Incentive Plan. Except as described herein, no right to any stock is earned or accrued until such time that vesting occurs, nor does the ▇▇▇▇▇ ▇▇▇▇▇▇ any right to continue vesting or employment.

  • Forfeiture of Restricted Stock Units In the event of termination of Employee’s employment with the Company or any employing Subsidiary of the Company for any reason other than (i) normal retirement on or after age 70, (ii) death or (iii) disability (disability being defined as being physically or mentally incapable of performing either the Employee’s usual duties as an Employee or any other duties as an Employee that the Company reasonably makes available and such condition is likely to remain continuously and permanently, as determined by the Company or employing Subsidiary), or except as otherwise provided in the second and third sentences of subparagraph (c) of this Paragraph 2, Employee shall, for no consideration, forfeit all Restricted Stock Units to the extent they are not fully vested.

  • Settlement of Awards Pursuant to Section 5 of this Agreement, the Corporation shall deliver to the Employee one Share for each vested Restricted Stock Unit included in the Award and, as applicable, one share for each vested Restricted Stock Unit that corresponds to an accrued dividend equivalent. Any vested Restricted Stock Units payable to the Employee (including Shares payable pursuant to Section 3 above) shall be paid solely in Shares. Any fractional Share will be rounded to the closest whole Share.

  • Restricted Stock Awards Each Encompass Restricted Stock Award that is outstanding as of immediately prior to the Effective Time shall be treated as follows: (i) If the holder is an Encompass Group Employee, such award shall be converted, as of the Effective Time, into a Post-Separation Encompass Restricted Stock Award, and shall, except as otherwise provided in this Section 4.02, be subject to the same terms and conditions (including with respect to vesting) after the Effective Time as were applicable to such Encompass Restricted Stock Award immediately prior to the Effective Time; provided, however, that from and after the Effective Time, the number of Encompass Shares subject to such Post-Separation Encompass Restricted Stock Award shall be equal to the sum of all the Encompass Shares subject to all tranches of the Award where the number of Encompass Shares subject to each tranche is equal to the product, rounded up to the nearest whole number of shares for each such tranche, obtained by multiplying (A) the number of Encompass Shares subject to such tranche of the corresponding Encompass Restricted Stock Award immediately prior to the Effective Time, by (B) the Encompass Ratio. (ii) If the holder is an Enhabit Group Employee, such award shall be converted, as of the Effective Time, into an Enhabit Restricted Stock Award, and shall, except as otherwise provided in this Section 4.02, be subject to the same terms and conditions (including with respect to vesting) after the Effective Time as were applicable to such Encompass Restricted Stock Award immediately prior to the Effective Time; provided, however, that from and after the Effective Time, the number of Enhabit Shares subject to such Enhabit Restricted Stock Award shall be equal to the sum of all the Enhabit Shares subject to all tranches of the Award where the number of Enhabit Shares subject to each tranche is equal to the product, rounded up to the nearest whole number of shares for each such tranche, obtained by multiplying (A) the number of Encompass Shares subject to such tranche of the corresponding Encompass Restricted Stock Award immediately prior to the Effective Time, by (B) the Enhabit Ratio.

  • Payment of Awards The payment of the Award shall be made in shares of Common Stock. The payment of an Award shall be made within 70 days following the end of the Restricted Period.