Annual Equity Award. Employee shall be eligible to receive an annual equity award under the Equity Incentive Plan for each complete calendar year that Employee is employed by the Company hereunder (the “Annual Equity Award”). The Annual Equity Award shall have an aggregate target value, determined as of the applicable date(s) of grant, of approximately 100% of Employee’s Base Salary as in effect on date of grant for such Annual Equity Award (the “Award Year”). The amount and type(s) of equity award shall be determined by the Board (or a committee thereof) annually, in its sole discretion, but it is anticipated that the one-half of the Annual Equity Award shall consist of restricted stock units subject to time-based vesting (the “Time RSUs”) and one-half of the Annual Equity Award shall consist of restricted stock units subject to performance-based vesting (the “Performance RSUs”). The terms and conditions (including vesting) applicable to the Annual Equity Award shall be determined by the Board (or a committee thereof) annually, in its sole discretion, but it is anticipated that the Time RSUs shall vest in three substantially equal annual installments on the first, second and third anniversary of the applicable date of grant and the Performance RSUs shall xxxxx xxxx in full on the third anniversary of the applicable date of grant, subject to satisfaction of applicable performance condition(s) established by the Board (or a committee thereof), in its sole discretion, and communicated to Employee on such date of grant and set forth in the applicable award agreement. Notwithstanding the foregoing, Employee shall receive an Annual Equity Award for calendar year 2017 (the “2017 Guaranteed Annual Equity Award”), which shall be granted in calendar year 2018 provided that Employee remains continuously employed by the Company from the Effective Date through the applicable date of grant, that shall consist of (i) Time RSUs with an aggregate value equal to approximately 25% of Employee’s Base Salary and (ii) Performance RSUs with an aggregate target value equal to approximately 25% of Employee’s Base Salary. In addition, Employee shall be eligible to receive an Annual Equity Award for the calendar year 2017 (the “2017 Performance Annual Equity Award”) based on the achievement of performance targets established by the Board (or a committee thereof) related to the Company’s budget and forecast in place sixty (60) days following the Effective Date, which shall be granted in calendar year 20...
Annual Equity Award. With respect to each Company fiscal year commencing during the Term, the Executive shall be eligible to receive an annual equity compensation award (each such award, an “Annual Equity Award”). The form and terms and conditions of each Annual Equity Award shall be determined by the Board (or the Compensation Committee of the Board) in its discretion and shall be set forth in one or more written award agreements between the Company and the Executive.
Annual Equity Award. Executive will be eligible for annual grants of long-term incentive and equity compensation awards at the Company’s good faith discretion, based upon the Compensation Committee’s evaluation of his performance and peer company compensation practices (the “Annual Equity Grant”). Executive’s target Annual Equity Grant shall be consistent with his position at the Company’s peer companies; provided, however, that the target Annual Equity Grant shall not be less than one hundred fifty percent (150%) of Executive’s Salary. Fifty percent (50%) of each Annual Equity Grant shall vest on an annual basis ratably over four (4) years and fifty percent (50%) of each Annual Equity Grant shall vest based on performance criteria determined by mutual agreement between Executive and the Compensation Committee.
Annual Equity Award. Employee shall be eligible to receive an annual performance-based equity award under the Company’s then-existing incentive equity plan with an expected target grant date fair market value equal to 100% of Employee’s Base Salary (the “Annual Equity Award”). Employee’s entitlement to the Annual Equity Award remains subject to approval by the Board and shall be granted pursuant to, and subject to, the Company’s 2018 Long Term Incentive Plan (as it may be amended from time to time, the “LTIP”) and a Restricted Unit Award Agreement or Restricted Unit Option Award Agreement, as applicable (each, an “Award Agreement”), in the form established by the Board in its sole discretion.
Annual Equity Award. Employee shall be eligible to receive an annual performance-based equity award under the Company’s then-existing incentive equity plan based on a 3-year graded vesting schedule with an expected target grant date fair value equal to 100% of Employee’s Base Salary (the “Annual Equity Award”). Employee’s entitlement to the Annual Equity Award remains subject to approval by the Board and shall be granted pursuant to, and subject to, the Company’s 2021 Long Term Incentive Plan (as it may be amended from time to time, the “LTIP”) and a Restricted Stock Agreement or Stock Option Award Agreement, as applicable (each, an “Award Agreement”), in the form established by the Board in its sole discretion, provided that the terms and conditions of any such Award Agreement shall be consistent with the terms and conditions of this Section 5(b)(ii), including without limitation, the vesting schedule thereof.
Annual Equity Award. Executive will be eligible for annual grants of long-term incentive and equity compensation awards at the Company’s good faith discretion, based upon the Compensation Committee’s evaluation of his performance and peer company compensation practices (the “Annual Equity Award”). Executive’s target Annual Equity Award shall be consistent with his position at the Company’s peer companies; provided, however, that the grant date fair value of the target Annual Equity Award shall not be less than two hundred percent (200%) of Executive’s Salary.
Annual Equity Award. The Executive shall be eligible at the discretion of the Compensation Committee, to receive an annual equity award, at target, equal to 75% of Executive’s base salary compensation. The Executive’s annual equity award, if any, shall be made at the same time as annual equity awards are normally made to similarly situated employees of the Company, pursuant to the Quality Distribution, Inc. 2012 Equity Incentive Plan (“Equity Plan”).
Annual Equity Award. At the discretion of the Board, on an annual basis, the Executive shall be eligible to receive equity awards with a grant date fair value equal to a portion of the Executive’s Base Salary as indicated on the Schedule, with such vesting terms as determined by the Board.
Annual Equity Award. Beginning the quarter commencing October 1, 2023, upon resolution by the Board of Directors, the Board Member will receive the following annual equity compensation, paid quarterly in arrears on a pro-rated basis: $150,000, divided by the volume weighted average price (VWAP) of the twenty (20) trading days prior to the applicable end of quarter grant date. For equity compensation earned by the Board Member after the vesting of the last Annual Equity Award but prior to September 30, 2023, the Board Member will receive a one-time payment in the amount of $75,000, divided by the volume weighted average price (VWAP) of the twenty (20) trading days prior to September 30, 2023.”
Annual Equity Award. Subject to approval by the Board or Compensation Committee, the Executive shall also be eligible to receive an annual equity award with a target value of $646,000 (the “Target Annual Equity Award Value”) at substantially the same time as annual equity awards are granted to other executive officers of the Company, which shall be subject to the terms and conditions of the 2021 Plan and shall be comprised of a stock option to purchase Parent Stock subject to a form of award agreement substantially in the form of Non-Qualified Stock Option Agreement attached hereto as Exhibit E and/or restricted stock units in respect of Parent Stock subject to an award agreement substantially in the form of Restricted Stock Unit Award Agreement attached hereto as Exhibit F (with such adjustments thereto as reasonably determined by the Board in its sole discretion, provided that with respect to the first annual equity award following the Effective Date, any such adjustments to the aggregate value, nature of award and performance hurdles shall be immaterial), as allocated among options and RSUs, as determined by the Board or Compensation Committee.
