Example ContractsClausesAward Terms
Award Terms
Award Terms contract clause examples

Award Terms. Each Other Stock-Based Award shall be expressed in terms of shares or units or an equivalent measurement based on shares, as determined by the Committee. If the value of an Other Stock-Based Award will be based on the appreciation of shares from an initial value determined as of the date of grant, then such initial value shall not be less than the Fair Market Value of a share on the date of grant of such Other Stock-Based Award.

Key Award Terms As of the Award Date, some of the key terms of the award to the Participant under this Award Agreement are set forth below

Terms of Award. The following terms used in this Agreement shall have the meanings set forth in this paragraph 1:

Miscellaneous Award Terms. After the Distribution Date, Adjusted Awards, regardless of by whom held, shall be settled by , and Awards, regardless of by whom held, shall be settled by ; provided, however, that shall be, if applicable, responsible for any dividend equivalent payments with respect to Adjusted RSAs and Adjusted RSUs and RSAs and RSUs held by Employees or Former Employees, and shall be, if applicable, responsible for any dividend equivalent payments with respect to Adjusted RSAs and Adjusted RSUs and RSAs and RSUs held by Employees or Former Employees. Except as otherwise provided in this Agreement (such as in [Section 3.2(d)] or [Section 4.3]), with respect to awards adjusted pursuant to this Section 3.2, # employment with the Group shall be treated as employment with the Group with respect to Awards held by Employees, and # employment with the Group shall be treated as employment with the Group with respect to Adjusted Awards held by Employees. In addition, none of the Separation, the Distribution, or any employment transfer described in Section 2.1 shall constitute a termination of employment for any Employee for purposes of any Award or any Adjusted Award. Following the Distribution Date, any reference to a “change in control,” “change of control” or similar definition in an award agreement, employment agreement or Legacy Equity Plan # with respect to Adjusted Awards, shall be deemed to refer to a “change in control,” “change of control” or similar definition as set forth in the award agreement, employment agreement or Legacy Equity Plan applicable to such award (a “ Change of Control”), and # with respect to Awards, shall be deemed to refer to a “Change in Control” as defined in the Equity Plan (a “ Change of Control”). Without limiting the foregoing, with respect to provisions related to vesting of awards, a Change of Control shall be treated as a Change of Control for purposes of Awards held by Employees, and a Change of Control shall be treated as an Change of Control for purposes of Adjusted Awards held by Employees.

Terms of Performance Award. The Performance Award entitles you, subject to Section 4 and the other terms and conditions of this Agreement, to receive # a cash payment equal to one-third of eighty percent of the Target Amount (the “Threshold Amount”) on each Vesting Date (each, an “Annual Payment”) and # an additional cash amount, payable on the Third Vesting Date equal to # the excess, if any, of the percentage of the Target Amount indicated below corresponding to the actual achievement of the performance goals set forth below (the “Performance Goals”) during the Performance Period over # the sum of the Annual Payments. The additional amount payable shall be interpolated for performance between the specified levels and the sum of the Annual Payments shall not be less than eighty percent of the Target Amount. The Performance Goals and corresponding percentages of the Target Amount are the following:

Terms of Option Award. If Actual Option Shares are earned under Section 2, the Option Award will be made in the form of the Stock Option Agreement attached as [Exhibit A]. The per share purchase price of the Actual Option Shares will equal one hundred percent (100%) of the fair market value of a share of Common Stock on the grant date, which shall be the Business Day immediately following the determination of the Actual Option Shares (the "Grant Date"). The term of the Option Award would expire on the tenth (10th) anniversary of the Grant Date, and the right to exercise the option to purchase the Actual Option Shares would vest at the rate of one-third (1/3rd) of the total Actual Option Shares on the first, second and third anniversary, respectively, of the Grant Date. The Option Award would be a Nonqualified Stock Option (as defined in the Plan).

Acceptance of Award Terms and Conditions. A Participant has until the end of the one hundred twenty (120) day period beginning from the Grant Date of this Award to accept this Award Agreement. If the Participant does not accept this Award Agreement on or before the end of such one hundred twenty (120) day period then the grant of the Award, as set forth in Section 1, shall not be binding on and shall be voidable by the Corporation, in which case it shall have no further force or effect.

Award. The Company hereby grants to Participant an award of ​ restricted stock units (“RSUs”), each RSU representing the right to receive one share of common stock of the Company, par value $.01 per share (the “Common Stock”), according to the terms and conditions set forth herein and in 2023 Stock and Incentive Plan (the “Plan”). The RSUs are granted under [Sections 6(c) and (f)] of the Plan. A copy of the Plan will be furnished upon request of Participant.

Award. The award of an Option, Restricted Stock, Restricted Stock Unit, or Stock Award under the Plan.

Award. The Company hereby grants to the Employee a target number of units (“Performance Units”) set forth in the attached [Exhibit A], subject to the restrictions, terms and conditions set forth in the Plan and in this Agreement. Each Performance Unit represents the right to receive a single share of Common Stock in the event the Performance Objectives are achieved at target levels as set forth in [Exhibit A]. The actual number of shares of Common Stock to be issued may be higher or lower than the target number, depending the achievement of the Performance Objectives as set forth in [Exhibit A].

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