Annual Equity Grants. Each calendar year during the Employment Period commencing on or after January 1, 2020, the Executive shall be eligible to receive a grant of Company restricted stock units (the "Annual RSU Award"). The Common Shares subject to each Annual RSU Award shall have a target value on the date of grant equal to one-third of the fair market value of the IPO Grant based on the closing price of the Company's stock on its last trading day before the grant date. The actual value of each Annual RSU Award on the date of grant shall be based on an evaluation of the Executive's individual performance by the Company's Compensation Committee. One-half of each Annual RSU Award (the "Time-Based RSUs") shall vest ratably on an annual basis on the first three anniversaries of the grant date of such Annual RSU Award. One-half of each Annual RSU Award (the "Performance-Based RSUs") shall vest on the third anniversary of the grant date of such Annual RSU Award based on the achievement of certain Company performance goals. The terms and conditions of an Annual RSU Award shall be set forth in a Restricted Stock Unit Agreement entered into between the Company and the Executive and shall be subject to the terms and provisions of the Stock Incentive Plan.
Annual Equity Grants. The Executive’s eligibility to receive and the terms and conditions of future annual equity awards will be determined by the Board or a compensation committee thereof in its sole discretion.
Annual Equity Grants. During the term of employment, the Executive may periodically be recommended to receive equity grants in the form of nonstatutory stock options, restricted stock, restricted stock units, or performance stock units, subject to the Board’s approval and further subject to NYSE or other rules and regulations related to the timing of grants. Any such grants will be subject to terms and conditions approved by the Board upon the recommendation of the Compensation Committee. The specific terms and conditions governing all aspects of any such grants shall be set forth in the Company equity incentive plan and in the grant agreement evidencing such grants.
Annual Equity Grants. Executive shall be eligible to receive annual equity grants, at such time as annual equity grants are made to other executives commencing in fiscal year 2021, in such amounts, types and terms as determined in the sole discretion of the Board based on Executive’s individual performance and the performance of the Company. The terms and conditions of the annual equity grant will be established by the Board at the time of the grant and will be subject to the terms of the Company’s applicable equity plan and form of equity award agreement. Annual equity grants shall be subject to reevaluation each performance period based on peer market data and shall be subject to the sole discretion of the Board.
Annual Equity Grants. During the Term, Executive shall be eligible to receive annual long-term incentive grants consistent with similar practices for the Company’s senior executives, which may be paid in either cash or equity, or both (any such grants a “Long-Term Incentive Grant”), as may be awarded solely at the discretion of the Compensation Committee of the Board; provided that the Compensation Committee shall be under no obligation whatsoever to grant such discretionary Long-Term Incentive Grants. Any Long-Term Incentive Grants issued to Executive shall be governed by the Company’s then-applicable long-term incentive plan(s) and any long-term incentive grant agreement(s) under the then applicable long-term incentive plan(s) under which they are issued.
Annual Equity Grants. During each year of the Term commencing with calendar year 2005, Fxxxxxx Mac shall make a grant to Executive of a long-term equity incentive award (the “Annual Equity Grant”) pursuant to the Stock Compensation Plan (or any successor plan) at the same time annual long-term equity incentive awards are granted to other senior executives. Each Annual Equity Grant shall have an aggregate value on the date of grant, as determined by the Committee, equal to $6,000,000. 50% of each Annual Equity Grant shall be restricted stock units (“RSUs”) and 50% of each Annual Equity Grant shall be stock options to acquire shares of Fxxxxxx Mac (“Options”), provided that the Committee may in its discretion from time to time, grant a higher percentage of the Annual Equity Grant in RSUs. The exercise price of the Options shall be determined by the Committee in accordance with the terms of the Stock Compensation Plan. The RSUs shall vest on the fourth anniversary of the date of grant, and the Options shall vest in four equal annual installments of approximately 25% each beginning on the first anniversary of the date of grant, in each case subject to Executive’s continued employment with Fxxxxxx Mac through the applicable vesting date, provided that the Committee may in its discretion from time to time (a) permit the acceleration of the vesting of the RSUs or the Options and (b) provide for a different vesting schedule for the RSUs or Options, provided, however, that in no event shall the vesting schedule applicable for the RSUs provide for a vesting period longer than four years and in no event shall the vesting schedule applicable to the Options provide for the Options to vest less frequently than 25% each year over a four year vesting period. In addition, the vesting of the Options and RSUs shall be subject to acceleration upon the terms and 3 conditions described in the following paragraph and Section 6 of this Agreement. Except as expressly provided in this Agreement, all other terms and conditions of the RSUs and Options shall be as set forth in the Stock Compensation Plan, the resolution making the grant and the related award agreement. In addition to the foregoing, upon the occurrence of a Change in Control (as defined below) during the Term: (a) the Initial RSUs, if they were granted to Executive at least twelve months prior to such Change in Control, and all other RSUs that were granted to Executive pursuant to this Agreement at least twelve months prior to such Change i...
Annual Equity Grants. Beginning with the 2016 calendar year and for each calendar year during the Contract Period, subject to the approval of the Committee for each such award, Executive shall be eligible to receive pursuant to the Equity Plan:
Annual Equity Grants. Executive shall be eligible to receive annual equity grants, at such time as annual equity grants are made to other executives, in such amounts, types and terms as determined in the sole discretion of the Board based on Executive’s individual performance and the performance of the Company. The terms and conditions of the annual equity grant will be established by the Board at the time of the grant and will be subject to the terms of the Company’s applicable equity plan and form of equity award agreement. Annual equity grants shall be subject to reevaluation each performance period based on peer market data.
Annual Equity Grants. Executive shall be entitled to additional equity grants at the discretion of the Compensation Committee, with his first eligibility to be on the first anniversary of the Effective Date. Following the first anniversary of the Effective Date, Executive shall be eligible for equity grants at the same time as other executive officers of the Company, subject at all times to the discretion of the Compensation Committee.
Annual Equity Grants. (a) Provided Executive is employed as Chief Executive Officer of the Company on the date of grant, the Company agrees to grant to Executive, the first regular meeting of the Company’s Board of Directors or the Compensation Committee of the Company’s Board of Directors, as applicable held after February 1st (but in no event later than May 31st) in each of 2015, 2016 and 2017, the following equity grants on the terms and conditions set forth herein:
