Additional Equity Grant. Upon execution of this Agreement and approval by the Board of Directors, you will be granted additional options ( “Options”) to purchase 190,000 shares of Company common. Your Options will have a per share exercise price equal to the fair market value of Company common stock on the date of grant, as determined by the Board, shall be immediately exercisable and shall vest based upon your continued service to the Company with 25% of the shares subject to the Options vesting on the first anniversary of the date of grant and 1/36th of the total number of shares subject to the Options vesting each month thereafter such that the Options will be fully vested on the fourth anniversary of the date of grant.
Additional Equity Grant. Within 45 Business Days of the date hereof, Executive shall receive, pursuant to the Plan, grants of Restricted Stock representing shares of CheckSmart Financial Holdings Corp. (the “Parent”) Class A Common Stock equal to an aggregate of 5% of the total equity (on a fully diluted basis) of the Parent, subject to a Restricted Stock Award Agreement, the terms and conditions of which will be negotiated between Executive and the Board in good faith, provided however, that 2.5% of the equity will be subject to customary time vesting over a period of 18 months as of the date hereof (“Time Vesting Award”) and 2.5% of the equity will be subject to performance based targets of the Company to be mutually agreed upon by the Board and Executive in good faith; provided, further, however, that, in any event of “Change of Control” (as defined in that certain Stockholders Agreement, dated as of May 1, 2006, by and among the Parent and other parties thereto (as the same shall be amended, modified or supplemented from time to time) or the bankruptcy, liquidation or dissolution of the Company, any unvested Time Vesting Award (unless previously terminated in accordance with the terms of the Plan or the Restricted Stock Award Agreement) shall fully vest immediately prior to the consummation of the Change of Control or the bankruptcy, liquidation or dissolution of the Company.
Additional Equity Grant. Upon the earlier of (a) the Company consummating an initial public offering (IPO) of its Common Stock or (b) the Company entering into an equity financing transaction or a series of such transactions up to an aggregate amount of $20 million (excluding the Company’s Series D round) and subject to your continued employment through such date, you will be awarded on the date of the execution of the underwriting agreement of the IPO or the closing date of such equity financing, an option to purchase additional shares of Common Stock and a number of additional Restricted Stock Units (the “Additional Equity Grant”) on a pro rata basis such that your outstanding number of options and Restricted Stock Units (which includes the grants made pursuant to Section 2.3) shall be equal in the aggregate to 2% (1% in options and 1% in Restricted Stock Units) of the Company’s issued and outstanding capital stock determined on an as converted to common stock, fully diluted basis (excluding any shares that have not been granted or are not subject to outstanding awards under the Company’s equity incentive plans) on the date of grant. The Additional Equity Grant shall be subject to the vesting conditions and schedule set forth in Section 2.3, except that the vesting commencement date shall be the date of grant of the Additional Equity Grant. The options issued pursuant to this Section 2.4 shall be nonqualified stock options and shall have an exercise price equal to the price per share in the IPO. The Additional Equity Grant shall be subject to the terms of the then current equity plan adopted by the Company and the applicable form of grant agreement
Additional Equity Grant. As additional incentive to Executive, The Company shall grant additional Options to Executive under the terms of the Plan to acquire up to 44,194 Class A Shares that will vest over an approximately five-year period based upon continued employment with the Company as of the applicable vesting date. The grant of the additional Options is subject to the terms and the vesting schedule of set forth in detail within that certain separate grant agreement dated even date herewith (“the Additional Grant Agreement”), which shall govern such additional Options completely and shall control, superseding the terms of this Section 4(e) in the event of any conflicts or inconsistencies with the Additional Grant Agreement.
Additional Equity Grant. In consideration for the Executive’s agreement to increase his commitment to the Company as set forth in this Amendment, the Compensation Committee of the Company’s Board has authorized a grant to the Executive, effective as of the Amendment Effective Date, of an option to purchase 42,000 shares of Common Stock (the “Additional Option Award”). The shares underlying the Additional Option Award (the “Additional Option Shares”) will have an exercise price per share equal to the closing price of the Common Stock on the NASDAQ Global Select Market on the Amendment Effective Date (or, if the Amendment Effective Date is not a trading day, the most recent preceding trading day for which there is a closing price). The Additional Option Shares will vest on a monthly basis at the end of each month over a one (1) year period by means of twelve consecutive monthly installments of 3,500 Additional Option Shares, subject to the Executive’s continued service to the Company, including employment or continued Board service, on such vesting dates. The Additional Option Award will be subject to and governed by the terms and conditions of the applicable equity award agreement between the Executive and the Company and the plan under which the option is granted.
Additional Equity Grant. Upon the Effective Date you will receive an additional equity grant with a grant date fair value (as determined under FAS 123R) equal to $1,662,500 split equally between SARs and RSUs. Such grants will be made under the LTIP, and will both vest 1/4 on the first, second, third and fourth anniversary dates of the Effective Date. The base price on the SARs shall be equal to the Share Value, as defined in the LTIP.
Additional Equity Grant. In connection with and consideration for this Amendment and in exchange for the promises the Executive makes herein, the Company will grant and issue to the Executive 50,000 shares of the Company’s common stock, without restriction, upon the earlier to occur of (a) the Company’s hiring and/or employment of an individual other than Executive to perform the duties of the Company’s chief financial officer, principal financial officer, and/or principal accounting officer or (b) a Change in Control (as defined in Section 9 of the Agreement). The Executive shall be deemed fully vested in the shares upon their issuance in accordance with this section.
Additional Equity Grant. As provided for in the offer letter between Executive and the Company, Executive is entitled to an equity grant on both the first (the “First Anniversary Grant”) and the second (the “Second Anniversary Grant”) anniversary of employment with the Company. In the event a Change of Control occurs prior to either the First Anniversary Grant or the Second Anniversary Grant, to the extent either or both equity grants have not been made by the Company to Executive at such time, then prior to the consummation of the Change of Control, the Company will grant to Executive the First Anniversary Grant and the Second Anniversary Grant, to the extent previously not granted, and, at Executive’s discretion, such equity grant(s) will either be in the form of a stock option, or a restricted stock grant (or combination thereof). In the event the equity to be granted includes restricted stock, the number of shares of Company stock subject to such grant (which shall be in lieu of stock options) shall be calculated using a Black-Scholes valuation, using the same methodology and basis of calculation as used by the Company for the most recent published financial statements, in which such a Black-Scholes valuation appears. The First Anniversary Grant and the Second Anniversary Grant will be entitled to vesting acceleration as provided for in Section 3.2 above, and, the extent to which the First Anniversary Grant and the Second Anniversary Grant are stock options, the post-term exercisability period applicable to such options shall be extended as set forth in Section 3.2 above.
Additional Equity Grant. In the event that Involuntary Termination occurs more than six (6) months after the date of commencement of Executive’s employment with the Company but prior to either the First Anniversary Grant or the Second Anniversary Grant, to the extent either or both equity grants have not been made by the Company to Executive at such time, then upon the Executive’s Involuntary Termination, the Company will grant to Executive the First Anniversary Grant and the Second Anniversary Grant, to the extent previously not granted. The First Anniversary Grant and the Second Anniversary Grant will be entitled to vesting acceleration as provided for in Section 4.2 above, and the post-term exercisability period applicable to such options shall be extended as set forth in Section 4.2 above.
Additional Equity Grant. Executive shall earn a special one-time grant of RSUs with a grant date fair value of USD $2,100,000 at the Commencement Date. This one-time grant of RSUs will vest 1/3 on the first anniversary of the Commencement Date; 1/3 on the second anniversary of the Commencement Date and 1/3 on the third anniversary of the Commencement Date. Vesting of these RSUs is contingent upon continued employment with the Company or its successor(s) on the applicable vesting dates. However, if Executive’s employment is involuntarily terminated other than for Cause these RSUs shall vest immediately at the Executive’s termination date to the extent not already vested under the Change of Control Agreement. If the Company terminates this agreement between Effective Date and Commencement Date for reasons other than for Cause, the Company will pay to the Executive in cash USD $2,100,000, net withholding tax, within sixty (60) days of that contract termination date.
