Example ContractsClausesInitial Grants
Initial Grants
Initial Grants contract clause examples

Initial RSU Grants. For each Eligible Director who is first elected or appointed to the Board following the Policy Effective Date, on the effective date of such Eligible Director’s initial election or appointment to the Board (or, if such date is not a market trading day, the first market trading day thereafter) (the “Appointment Effective Date”), the Eligible Director will automatically, and without further action by the Board or the Compensation Committee of the Board, be granted RSUs with respect to shares of the Company’s common stock (“Common Stock”) with an aggregate value of $150,000 (the “Initial RSU

Initial Grants. Each person who first becomes a Non-Employee Director, whether through election by the stockholders of the Company or appointment by the Board to fill a vacancy, automatically will be granted a Nonstatutory Stock Option to purchase 120,000 shares of Common Stock (a “First Director Option”) on the date of his or her initial election or appointment to be a Non-Employee Director. For the avoidance of doubt, an executive chairman of the Board will not be eligible to receive a First Director Option pursuant to this Section 2(a).

Initial Grants. Each person who first becomes a Non-Employee Director, whether through election by the stockholders of the Company or appointment by the Board to fill a vacancy, automatically will be granted a Nonstatutory Stock Option to purchase 70,000 shares of Common Stock (an “Initial Option”) on the date of his or her initial election or appointment to be a Non-Employee Director.

Initial Grants. Each individual who is elected or appointed for the first time after the Effective Date to be a Non-Employee Director automatically will be granted, on the date of such initial election or appointment, a nonstatutory stock option to purchase 25,000 shares of Common Stock (an “Initial Option Grant”); and each individual who is a Non-Employee Director on the Effective Date will receive an Initial Option Grant on the Effective Date.

Initial Grants. Each person who first becomes a Non-Employee Director, whether through election by the stockholders of the Company or appointment by the Board to fill a vacancy, automatically will be granted a Nonstatutory Stock Option to purchase 70,000 shares of Common Stock (an “Initial Option”) on the date of his or her initial election or appointment to be a Non-Employee Director.

Initial Grants. Upon initially becoming a Director, an individual shall be automatically entitled to receive an Award with a Fair Market Value (in the case of Options, as such value is determined by the Board in its sole discretion) on the date of grant equal

Initial Grants. Each person who first becomes a Non-Employee Director, whether through election by the stockholders of the Company or appointment by the Board to fill a vacancy, automatically will be granted a Nonstatutory Stock Option to purchase 120,000 shares of Common Stock (a “First Director Option”) on the date of his or her initial election or appointment to be a Non-Employee Director. For the avoidance of doubt, the Executive Chairman of the Board will not be eligible to receive a First Director Option pursuant to this Section 2(a).

Initial Equity Grants. Executive will receive on the Start Date an award of # options to purchase 15,000 shares of the Employer’s common stock and # restricted stock units representing 20,000 shares of the Employer’s common stock. The options will have an exercise price equal to the mean between the lowest and highest reported sale prices of the Employer’s common stock on the Start Date, will vest and become fully exercisable in three substantially equal installments beginning on the first anniversary of the Start Date, subject to your continued employment through each vesting date, and will have a ten year term. The restricted stock units will become vested and settled in shares of the Employer’s common stock as follows, subject to your continued employment through each vesting date: 25% thirty days after the first anniversary of the Start Date, 25% on the second anniversary of the Start Date and 50% on the third anniversary of the Start Date.

Initial Grants. Each person who first becomes a Non-Employee Director, whether through election by the stockholders of the Company or appointment by the Board to fill a vacancy, automatically will be granted a Nonstatutory Stock Option to purchase 70,000 shares of Common Stock (an “Initial Option”) on the date of his or her initial election or appointment to be a Non-Employee Director.

Initial Grants. Each person who first becomes a Non-Employee Director, whether through election by the stockholders of the Company or appointment by the Board to fill a vacancy, automatically will be granted a nonqualified stock option to purchase 120,000 shares of Common Stock (a “First Director Option”) on the date of his or her initial election or appointment to be a Non-Employee Director. For the avoidance of doubt, the Executive Chairman of the Board will not be eligible to receive a First Director Option pursuant to this Section 2(a).

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