Initial Grant Date definition
Examples of Initial Grant Date in a sentence
As of the Initial Grant Date, Company shall grant Executive shares of restricted Common Stock in an amount to be determined by the Board ("Restricted Stock"), in accordance with the terms of the Stock Plan.
Such Options shall vest in thirds upon each of the first three anniversary dates of the Initial Grant Date, and shall be fully vested upon Executive's death, Disability or a Change of Control.
Such Restricted Stock shall, subject to Executive's continued employment by the Company, vest in its entirety on the third anniversary of the Initial Grant Date and shall be fully vested upon a Change of Control.
As an inducement to Executive to enter into this Agreement, Company shall grant to Executive, as of the date upon which initial grants are made to other senior executives of the Company (the "Initial Grant Date"), an Option to purchase shares of Common Stock in an amount to be determined by the Board (the "Initial Option") in accordance with the terms of the Company's 2001 Stock Plan, as it may be amended or restated from time to time (the "Stock Plan").
The awards for Participants who are selected by the Compensation Committee to participate after the Initial Grant Date will be determined based on actual performance for the full Performance Period (as defined below) and will be prorated based on the number of full months of eligible service completed during the thirty-six (36) month Performance Period, subject to the vesting requirements outlined below in section 6.