Annual Equity Plan Award Sample Clauses

Annual Equity Plan Award. Subject to approval by the Compensation Committee or the Board, taking into account the CEO’s recommendation, if applicable, the Executive shall be eligible to receive an annual award under Parent’s equity compensation plan with a target value of One Million and 00/100 Dollars ($1,000,000.00) (the “Target Annual Equity Plan Award Value”) at substantially the same time as annual awards are granted to the Company’s other executive officers under the Parent’s equity compensation plan, which award shall be subject to the terms and conditions of the Parent’s 2021 Stock Option and Incentive Plan (as it may be amended, the “2021 Stock Plan”) (or any successor, replacement or additional equity compensation plan as may be approved from time to time by the Board or Compensation Committee and, to the extent applicable, the Parent’s stockholders (a “Successor Stock Plan”)) and shall be comprised of any type of awards which may be granted under the applicable plan, including (i) stock options to purchase Class A common stock of the Parent (“Parent Stock”), subject to a form of award agreement substantially in the form of Non-Qualified Stock Option Agreement attached hereto as Exhibit B (or, if applicable, any Non-Qualified Stock Option Agreement adopted for a Successor Stock Plan), (ii) service-based and/or performance-based restricted stock units (“RSUs”) in respect of Parent Stock, subject to an award agreement in respect of service-based RSUs substantially in the form attached hereto as Exhibit C and in respect of performance-based RSUs substantially in the form attached hereto as Exhibit D (or, in each case, if applicable, any Restricted Stock Unit Award Agreement adopted for a Successor Stock Plan) (in the case of the award agreement for each of a stock option, service-based RSU and performance-based RSU, with such adjustments thereto, including, without limitation, with respect to the vesting schedule and any performance goals and/or hurdles, as may be determined by the Board or Compensation Committee in its respective sole discretion), and/or (iii) cash-based awards, as allocated among award types as determined by the Compensation Committee or the Board, taking into account the CEO’s recommendation, if any. Notwithstanding the foregoing or anything to the contrary contained herein, the parties agree that the Executive’s annual equity plan award as contemplated by this Section 2(f) for the fiscal year ending December 31, 2024 shall be a Cash-Based Award (as defin...