Additional Award. 39.1. The Arbitral Tribunal may, on its own initiative, make an additional Award if it considers it appropriate following the interpretation of an Award pursuant to Rule 37 or the correction of an Award pursuant to Rule 38.
Additional Award. Upon Executive providing proof from his former employer that, as a result of his resignation from such employer, Executive has forfeited any portion of the benefits he had accrued under his former employer’s Executive Retirement Plan, Supplemental Retirement Plan or Supplemental Savings Plan, the Board will grant to Executive up to an additional 7,500 Restricted Units under the LTIP effective as of April 1, 2008, under the same terms and conditions of this Agreement and Attachment A. The total number of Restricted Units granted pursuant to this Section 2(b)(ix) shall be equal to (a) 7,500, multiplied by (b) a percentage derived by dividing the dollar amount forfeited by Executive at the date of his termination by $225,000.
Additional Award. Subject to the Executive’s continued employment with the Company through the Class B Unit Conversion Date (as defined in each Issuer’s respective Limited Liability Company Operating Agreement) (other than a Class B Unit Conversion Date that relates to the sale of the Company for cash) if the conversion results in the Executive receiving equity in the Company having a value, based on the initial public offering or deal price, as applicable (the “Converted Equity Value”), of less than $24 million (as equitably adjusted downward for any Performance Based Units that have been previously forfeited as a result of the failure to achieve the EBITDA Goal (as defined in the Performance Based Unit Grant Agreement)) (the “Target Value”), the Executive will be granted an option with a ten-year term (the “Option”) to acquire the Company’s common stock (struck at the initial public offering or deal price) having a value, determined in accordance with Black-Scholes methodology, equal to the difference between the Target Value and the Converted Equity Value. The option shall vest in three equal installments on the one-year, two-year and three-year anniversary of the Class B Unit Conversion Date (the “Option Grant Date”), provided that, except as otherwise provided in Section 5, the Executive remains continuously employed by the Company through the applicable anniversary date. If the Executive’s employment is involuntarily terminated by the Company for “Cause” (as defined below), the entire Option, whether vested or not vested, will be forfeited. If the Executive’s employment is terminated (i) under circumstances described in Sections 5.2, 5.3 or 5.4, then the Option shall remain exercisable for a period of one year from the date of such termination, or (ii) by the Executive voluntarily resigning from the Company without Good Reason, then the Option shall remain exercisable for a period of ninety (90) days from the date of such termination. The Executive shall be permitted to “net exercise” the Option with respect to both the exercise price and withholding during such exercise periods.
Additional Award. The Company will make a one-time cash payment to Executive of $500,000 (net of withholding) on the first payroll date following the Commencement Date (the “Additional Award”). If Executive's employment terminates within twenty-four (24) months of the Commencement Date other than by reason of (a) death, (b) Disability (as defined in Section 6.4 hereof), (c) termination by the Company without Cause (as defined in Section 6.3(b) hereof) or (d) resignation for Good Reason (as defined in Section 6.2(d) hereof), Executive will repay to the Company an amount equal to the Additional Award multiplied by a fraction whose numerator shall be twenty-four (24) less the number of whole months that have elapsed from the Commencement Date to the date of Executive's termination of employment and whose denominator shall be twenty-four (24), and, under such circumstances, Executive will repay such amount of the Additional Award on the date of his Separation from Service (as defined in Section 6.2(c) below).
Additional Award. In recognition of Pamesa Grupo Empresarial, S.L, a prospective customer brought to the Company by EZ, executing an agreement with the Company, a copy of which is included as Exhibit B hereto (the “Pamesa Contract”), the Company will also award EZ an additional 1,668,010 fully paid, non-assessable, and fully vested Class M Units of the Company (which equal one and one-half percent (1.5%) of the 1 Based on 111,200,708 total Units outstanding issued and outstanding total Units of the Company as of the Effective Date) pursuant to the terms and conditions set forth on Exhibit A (“Additional Award”). The Additional Award shall be reflected in unit membership certificates which will be provided by the Company to the designees of EZ (named in the next sentence) within five (5) business days of the Effective Date. The Class M Units issued by the Company to EZ pursuant to the Award and the Additional Award shall hereafter be referred to as the “EZ Class M Units” which shall be issued in equal amounts to Hospitality Energy Solutions, LLC, a Florida limited liability company and The Gokus Energy, LLC, a Florida limited liability company. Upon the delivery of the unit membership certificates for the Award and the Additional Award, Hospitality Energy Solutions, LLC and The Gokus Energy, LLC will sign the Company’s Third Amended and Restated Limited Liability Company Agreement dated December 7, 2020 (the “Operating Agreement”), which is a condition to receipt of such Awards.
Additional Award. In consideration of the amendments to the Plan as set forth above, the Company hereby awards to the Executive an additional target incentive award (the “Additional Awards”) for each uncompleted performance period ending after January 1, 2010 for which the Executive has previously received a target incentive award (the “Prior Target Incentive Awards”). The Additional Awards are equal to 10% of the amount of the Prior Target Incentive Awards and are further described on Exhibit A attached hereto.
Additional Award. Subject to the approval of the Company’s Board, in connection with the Company’s annual equity award process and consistent with the Company’s standard equity grant cycle, the Company shall grant the Executive an option to purchase 100,000 (One Hundred Thousand) shares of the Company’s Common Stock (the “Second Option,” and together with the Initial Option, the “Options”).
Additional Award. Subject to the approval of the Company’s Board, in connection with the Company’s annual equity award process and consistent with the Company’s standard equity grant cycle, the Company shall grant the Executive 50,000 (Fifty Thousand) Restricted Stock Units (the “Second RSUs,” and together with the Initial RSUs, the “RSUs”).
Additional Award. In addition, concurrently with the execution of this Agreement, the Company will award to Executive an option to purchase [ ] shares of Class D stock of the Company (the “Additional Option,” and, together with the Initial Awards, the “Awards”). The Executive shall be required to exercise any outstanding vested and unexercised portion of the Additional Option (the “Mandatory Exercise”) not later than the earliest to occur: (i) the fifth anniversary of the date of grant, (ii) within thirty (30) days following the Executive’s termination of employment for any reason or no reason, or (iii) in the event an IPO (as herein defined) is consummated prior to the fifth anniversary of the date of grant, within 15 days following the later of (x) last date of the applicable underwriters lock-up period following the IPO, or (y) each applicable vesting date following the IPO. In the event of the Executive’s termination of employment, the Executive may satisfy the aggregate exercise price obligation arising as a result of the Mandatory Exercise by cash payment or offset of any payments due to the Executive from the Company (including any termination payments due under Section 6.6.1 or 6.6.2 hereunder), as well as any payment method permitted under the applicable award agreement, at the Executive’s election. In the event the Executive fails to satisfy the Mandatory Exercise requirement, the Executive shall forfeit any vested portion of the Additional Option.
Additional Award. Subject to the approval of the Compensation Committee, following the Effective Date, Executive will be granted an award of restricted stock units with a value of $1,150,000 with the actual number of restricted stock units subject to the award equal to that value divided by the closing price per share of the Company’s common stock on the date of grant, rounded down to the nearest whole restricted stock unit (the “Additional Award”). Except in the case of accelerated vesting upon certain terminations of employment as set forth in the CoC Agreement, the Additional Award will be scheduled to vest as to 100% of the Matching RSUs on the one (1) year anniversary of the grant date of the Additional Award subject to Executive continuing to be a Service Provider through the scheduled vesting date and Executive continuing to own the Matching Shares described below. For purposes of this Agreement, “Matching RSUs” will mean a number of restricted stock units subject to the Additional Award that is equal to the number of shares of the Company’s common stock that Executive purchases on the open market during the period between the grant date of the Additional Award and June 16, 2020 (the “Matching Shares”). Any restricted stock units subject to the Additional Award that do not become Matching RSUs as of June 16, 2020, will immediately terminate and be cancelled and Executive will have no further rights with respect to those restricted stock units.
