Example ContractsClausesGrant of the Rsu Award
Grant of the Rsu Award
Grant of the Rsu Award contract clause examples

RSU Award. The Company makes this Award of [Number] RSUs to the Grantee on the date noted above (the "Grant Date"). These RSUs are subject to forfeiture and to limits on transferability until they vest, as provided in [Sections 2, 3 and 4]4] of this Agreement and in [Article VI] of the Plan.

RSU Award Severance. Employee’s Awards that accelerate vesting as RSU Award Severance are those time-based restricted stock unit Awards (“RSUs”) set forth in [Schedule A] attached hereto.

Eligibility for Matching RSU Grant – To be eligible to receive Matching RSU grants under the Program, a Participant must satisfy each of the following requirements:

As reflected by your RSU Award Grant Notice (“Grant Notice”) Spruce Biosciences, Inc. (theCompany”) has granted you a RSU Award under the Spruce Biosciences, Inc. 2020 Equity Incentive Plan (thePlan”) for the number of restricted stock units as indicated in your Grant Notice (theRSU Award”). The terms of your RSU Award as specified in this Award Agreement for your RSU Award (this “Agreement”) and the Grant Notice constitute your “RSU Award Agreement”. Defined terms not explicitly defined in this Agreement but defined in the Grant Notice or the Plan shall have the same definitions as in the Grant Notice or Plan, as applicable.

Annual LTIP RSU Award. For each fiscal year of the Company, except as otherwise determined by the Committee and set forth in the Applicable Award Agreement, the Annual LTIP RSU Award with respect to each Participant # shall vest as to one-fourth of the shares of Common Stock subject to such Annual LTIP RSU Award on each of the first four anniversaries of the Grant Date, subject to the Participant’s continued employment with the Company through the applicable vesting date (except as may be otherwise provided in the Award Agreement), and # shall have such other terms and conditions as shall be set forth in the applicable Award Agreement approved by the Committee.

Nature of RSU Award. You further acknowledge, understand and agree that:

Forfeiture of RSU Award. Any portion of the RSU Award that does not become vested and payable in shares of Common Stock in accordance with this Section 1 shall be forfeited on the date of the Participant’s Termination of Service.

Award Grant. Executive will be eligible to participate in long-term incentive programs maintained by the Company from time to time in the sole discretion of the Company. Any such long-term incentive awards will be subject to the terms and conditions set forth in the applicable plan and award agreement

Grant of Award. Pursuant to the [[Organization A:Organization]] 2014 Long-Term Incentive Plan (the “Plan”) for Employees, Contractors, and Outside Directors of [[Organization A:Organization]], a Delaware corporation (the “Company”), the Company grants to

“Restricted Stock Unit” or “RSU” represents an unfunded, unsecured right to receive in the future, if the conditions of an RSU award are met, one share of Common Stock for each RSU awarded. No shares of Common Stock shall be issued to an Outside Director on the date of the RSU grant.

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