Eligibility Clause Example from Business Contracts

Eligibility. Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Shares and Performance Units may be granted to Employees so long as the following requirements are met: (a) The Employee was not previously an Employee or Director, or the Employee is to become employed by the Company or any of its Parent or Subsidiaries following a bona-fide period of non-employment (within the meaning of Listing Rule 5635(c)(4)); and (b) The grant of the Award or Awards... to the Employee is an inducement material to the Employee's entering into employment with the Company (or any of its Parent or Subsidiaries, as applicable) in accordance with the Listing Rule. Notwithstanding the foregoing, an Employee may be granted an Award in connection with an acquisition or merger to the extent permitted by Listing Rule 5635(c)(3). View More