Purpose and Effective Date Contract Clauses (50)

Purpose and Effective Date. (a) Purpose. The OptMed, Inc. Omnibus Incentive Plan (the "Plan") has two complementary purposes: (i) to attract and retain outstanding individuals to serve as officers, directors, employees, and consultants, and (ii) to increase stockholder value. The Plan will provide participants incentives to increase stockholder value by offering the opportunity to acquire shares of the Company's common stock, receive monetary payments based on the value of such common stock, or receive other incentive comp...ensation, on the potentially favorable terms that this Plan provides. (b) Effective Date. The Plan will come into existence on the Effective Date. However, no Options or Stock Appreciation Rights will be exercisable; no Restricted Stock, Restricted Stock Units, Performance Shares, Performance Units valued in relating to Shares or other Stock-based awards will be granted; and no Cash Incentive Award will be paid unless and until the Plan has been approved by the stockholders of the Company, which approval must occur on or within twelve (12) months after the Effective Date. The Plan will terminate as provided in Section 15. View More

Purpose and Effective Date. Bonanza Creek Energy, Inc. (the "Company") has adopted this Fourth Amended and Restated Executive Change in Control and Severance Benefit Plan (this "Plan") to provide for the payment of severance or change in control benefits to Eligible Individuals (as defined below). The Plan was approved by the Board of Directors of the Company (the "Board") to be effective as of May 5, 2017 (the "Effective Date").

Purpose and Effective Date. (a) Purpose. The HCI Group, Inc. 2012 Omnibus Incentive Plan has two complementary purposes: (i) to attract and retain outstanding individuals to serve as officers, employees, directors and service providers; and (ii) to increase shareholder value. This Plan will provide participants incentives to increase shareholder value by offering the opportunity to acquire shares of the Company's common stock, or receive monetary payments, on the potentially favorable terms that this Plan provides. In addi...tion, the Plan is intended to advance the Company's growth and success and to advance its interests by attracting and retaining well-qualified Non-Employee Directors upon whose judgment the Company is largely dependent for the successful conduct of its operations and by providing such individuals with incentives to put forth maximum efforts for the long-term success of the Company's business. (b) Effective Date. This Plan will become effective, and Awards may be granted under this Plan, on and after the date that the Plan is approved by the Company's shareholders (the "Effective Date"). (c) Prior Plan. If the Company's shareholders approve this Plan, then the HCI Group, Inc. 2007 Stock Option and Incentive Plan (the "Prior Plan") will terminate on the Effective Date, and no new awards will be granted under the Prior Plan after its termination date; provided that the Prior Plan will continue to govern awards outstanding as of the date of the Prior Plan's termination and such awards shall continue in force and effect until fully distributed or terminated pursuant to their terms. View More

Purpose and Effective Date. (a) The purpose of the Wheeler Real Estate Investment Trust, Inc. 2016 Long-Term Incentive Plan (the "Plan") is to further the long term stability and financial success of Wheeler Real Estate Investment Trust, Inc. (the "Company") by attracting and retaining personnel, including employees, executive officers, non-employee directors, and consultants, through the use of stock incentives. It is believed that ownership of Common Stock will stimulate the efforts of those employees upon whose judgment..., interest and efforts the Company is and will be largely dependent for the successful conduct of its business. (b) The Plan was adopted by the Board of Directors of the Company on April 6, 2016 (the "Effective Date"), subject to shareholder approval. View More

Purpose and Effective Date. WildHorse Resource Development Corporation, a Delaware corporation (the "Company") has adopted this Executive Change in Control and Severance Benefit Plan (the "Plan") to provide for the payment of severance and/or change in control benefits to Eligible Individuals. The effective date of the Plan is December 13, 2016.

Purpose and Effective Date. (a) Purpose. The Johnson Controls International plc 2012 Omnibus Incentive Plan has two complementary purposes: (i) to attract and retain outstanding individuals to serve as officers and employees and (ii) to increase shareholder value. This Plan will provide participants incentives to increase shareholder value by offering the opportunity to acquire ordinary shares of the Company, or receive monetary payments, on the potentially favorable terms that this Plan provides. (b) Effective Date; Histo...ry. This Plan became effective on September 25, 2012 (the "Effective Date") and was approved by shareholders on January 23, 2013. Awards could be granted under this Plan on and after the Effective Date, provided that any Awards granted prior to the date that the Plan was approved by shareholders were conditioned on such shareholder approval. This Plan is being amended and restated in connection with, and effective immediately after the closing of, the merger (the "Merger") being consummated on September 2, 2016 pursuant to the Agreement and Plan of Merger, dated as of January 24, 2016, by and among the Company, Johnson Controls, Inc. and Jagara Merger Sub LLC (the "Merger Agreement"). The amendment and restatement reflects, as provided in Section 2.3 of the Merger Agreement, (i) the Company's assumption of all rights and obligations in respect of this Plan, (ii) the amendment of all references in this Plan to a number of shares of Johnson Controls, Inc. common stock to refer instead to a number of ordinary shares of the Company and (iii) the succession of the Company's Board of Directors or a committee thereof to the authority and responsibility of the Johnson Controls, Inc. Board of Directors or committee thereof with respect to the administration of this Plan. As contemplated by the Merger Agreement, the Company is assuming the remaining Share reserve under this Plan for use in granting awards under its 2012 Share and Incentive Plan following the Merger, and such remaining Share reserve shall no longer be available for future grants under this Plan. Accordingly, this Plan is terminating as of the date on which the consummation of the Merger occurs and no new awards may be granted under this Plan following such termination date; provided that this Plan shall continue to govern Awards outstanding as of such termination date and such Awards shall continue in force and effect until fully distributed or terminated pursuant to their terms. (c) Prior Plans. When this Plan was approved by shareholders, the Johnson Controls, Inc. 2007 Stock Option Plan, the Johnson Controls, Inc. 2001 Restricted Stock Plan, the Johnson Controls, Inc. Annual Incentive Performance Plan and the Johnson Controls, Inc. Long-Term Incentive Performance Plan (collectively, the "Prior Plans") terminated on the date of such shareholder approval, and no new awards could be granted under the Prior Plans after their termination date; provided that the Prior Plans continued to govern awards outstanding as of the date of the Prior Plans' termination and such awards shall continue in force and effect until fully distributed or terminated pursuant to their terms. View More