Date of Award definition
Examples of Date of Award in a sentence
This provision supplements the “Tax Obligations” section of the Agreement: Upon disposal of the Shares, the fair market value of the Restricted Stock Units on the Date of Award (as computed in accordance with the provisions of the Ordinance relating to Capital Gain Awards) will be subject to taxation in Israel in accordance with ordinary income tax principles.
Further, if the Participant has become subject to tax in more than one jurisdiction between the Date of Award and the date of any relevant taxable or tax withholding event, as applicable, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.
If the Company achieves the performance goals set forth on Exhibit A (the “Performance Goals”) and the Participant has maintained Continuous Status as an Employee from the Date of Award through the applicable Vesting Date (as defined in Exhibit A), the Shares subject to the Award shall vest in accordance with Exhibit A.
In the event of the Participant’s death before all the Restricted Stock Units subject to this Award have vested, if the Participant will have been in Continuous Status since the Date of Award, the number of Restricted Stock Units scheduled to vest one year after the Participant’s date of death will be deemed to have vested immediately prior to the Participant’s death.
On March 15, 2028 (the period from the Date of Award through such date is herein called the “3-Year Performance Period”), the portion, if any, of the Adjusted Shares that will vest shall be determined by the product of the Adjusted Shares multiplied by the applicable Vesting Factor (as calculated in Section 2 below), subject to (i) a limit of not more than 33% of the Adjusted Shares and (ii) the 2.5x Value Cap (as defined below).