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.
Appears in 2 contracts
Samples: Employment Agreement (Cano Health, Inc.), Employment Agreement (Jaws Acquisition Corp.)
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 2,411,000 (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 D 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 E (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, RSUs as determined by the Board or Compensation Committee.
Appears in 2 contracts
Samples: Employment Agreement (Cano Health, Inc.), Employment Agreement (Jaws Acquisition Corp.)
