Purpose Eligibility Clause Example from Business Contracts

Purpose Eligibility. 1.1 General Purpose. The name of this plan is the Professional Holding Corp. 2019 Equity Incentive Plan (the "Plan"). The purposes of the Plan are to (a) enable Professional Holding Corp., a Florida corporation (the "Company"), and any Affiliate to attract and retain the types of Employees, Consultants and Directors who will contribute to the Company's long-term success; (b) provide incentives that align the interests of Employees, Consultants and Directors with those of the shareholders of the ...Company; and (c) promote the success of the Company's business. 1.2 Eligible Award Recipients. The Persons eligible to receive Awards are the Employees, Consultants and Directors of the Company or its Affiliates and such other individuals designated by the Committee who are reasonably expected to become Employees, Consultants and Directors of the Company or its Affiliates after the receipt of Awards. 1.3 Available Awards. Awards that may be granted under the Plan include: (a) Incentive Stock Options, (b) Non-qualified Stock Options, (c) Stock Appreciation Rights, (d) Restricted Awards, (e) Performance Share Awards, (f) Cash Awards, and (g) Other Equity-Based Awards, or any combination of the foregoing. View More