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.
Appears in 6 contracts
Samples: Employment Agreement (Tengasco Inc), Employment Agreement (Tengasco Inc), Employment Agreement (Riley Exploration - Permian, LLC)
