Additional Incentive Awards. 1. On the Distribution Date, Chicago Title will grant to you an award of 30,000 restricted shares of Chicago Title Common Stock pursuant to Chicago Title's 1998 Long-Term Incentive Plan, which will vest as to 50% on the second anniversary of the Distribution Date and 50% on the third anniversary of the Distribution Date. The terms of such award will be governed by a restricted stock agreement to be entered into by you and Chicago Title (the "Restricted Stock Agreement") under the 1998 Long-Term Incentive Plan. In connection with such restricted stock award, on the Distribution Date you will make an election under Section 83(b) of the Internal Revenue Code, and Chicago Title will make a tax gross-up payment to you in cash, or on your behalf through withholding payments, to cover your Federal, state and local income taxes 2 (including the Medicaid portion of F.I.C.A.) on the restricted stock award and the gross-up payment.
Additional Incentive Awards. Additional incentive awards, restricted stock and stock options may be granted to you at the discretion of the Board.
Additional Incentive Awards. In addition to the Commencement Base Salary or Consulting Base Salary, as applicable, if the Executive remains employed by the Company through February 9, 2002, the Executive shall be paid an amount (the "Additional Incentive Bonus") equal to the sum of (i) the Executive's Commencement Base Salary as in effect on February 9, 2000 and (ii) the Executive's target annual bonus for fiscal year 2000 under the Bonus Plan calculated on a full year basis based upon the target bonus percentage in effect on February 9, 2000. The Additional Incentive Bonus, if payable, shall be paid as soon as administratively practicable but in no case later than March 31, 2002. In addition, the Executive is simultaneously herewith being granted restricted stock (the "Additional Incentive Shares"), pursuant to the Restricted Shares Agreement attached to this Agreement as Exhibit A (the "Restricted Shares Agreement").
Additional Incentive Awards. If and when the Sotio Milestone occurs, the Company shall grant shares of Common Stock to the Executive under the Existing Plan in an amount equal to 1.0% of the issued and outstanding shares of Common Stock as of the Milestone Date on a fully diluted basis (such shares of Common Stock, the “Amendment Shares”). The Amendment Shares will be “restricted shares” and will be subject to vesting as follows and in accordance with the terms of a Restricted Award Agreement and a Stock Restriction Agreement, each to be executed as of the Milestone Date:
Additional Incentive Awards. (a) If and when the Qualified Financing Closing occurs (the “Qualified Financing Date”), the Company shall grant shares of Common Stock to the Executive under the Existing Plan in an amount such that the aggregate number of shares of Common Stock owned by the Executive as of the Qualified Financing Date equals 5.0% of the issued and outstanding shares of Common Stock as of the Qualified Financing Date on a fully diluted basis (such shares of Common Stock, the “Amendment Shares”). The Amendment Shares will be “restricted shares” and will be subject to vesting as follows and in accordance with the terms of a Restricted Award Agreement and a Stock Restriction Agreement, each to be executed as of the Qualified Financing Date:
Additional Incentive Awards. The Board, in its sole discretion, may establish one or more long-term incentive programs for Executive consisting of (but not limited to):
Additional Incentive Awards. If the Executive remains employed by the Company through February 9, 2002, the Executive shall be paid an amount (the "Additional Incentive Bonus") equal to the sum of (i) the Executive's Base Salary as in effect on February 9, 2000 and (ii) the Executive's target annual bonus for fiscal year 2000 under the MIP calculated on a full year basis based upon the target bonus percentage in effect on February 9, 2000. The Additional Incentive Bonus, if payable, shall be paid as soon as administratively practicable but in no case later than March 31, 2002. In addition, the Executive is simultaneously herewith being granted restricted stock (the "Additional Incentive Shares"), pursuant to the Restricted Shares Agreement attached to this Agreement as Exhibit A (the "Restricted Shares Agreement").
