Annual Long Term Incentive Program. Executive shall be eligible for annual awards pursuant to the Company's long term incentive program under the Plan, with a target equal to 425% of base salary, commencing with the 2015 fiscal year. The Executive shall participate in the 2015-2017 Long Term Incentive Program under the Plan on a basis commensurate with other senior executives of the Company, provided that any incentive actually earned shall be paid on a pro-rated basis in respect of the period during the 2015-2017 performance cycle beginning on the Effective Date.
Annual Long Term Incentive Program. 10.1 You will be eligible to be considered for a long-term equity incentive award through the Teleflex Incorporated Stock Plan.
Annual Long Term Incentive Program. (“LTIP”) Options. The Employee will be eligible to participate in the FREYR Battery LTIP. Subject to the required approval, the Employee will receive an award of 200,000 options to purchase Parent common stock (the “LTIP Options”), to be granted per annum for each of 2023, 2024 and 2025. All LTIP Options will be granted in accordance with the standard grant schedule for the LTIP Program for the relevant year. The LTIP Options shall vest in three (3) equal tranches over a period of three (3) years from the grant date and once vested will remain exercisable for a term not to exceed five (5) years from the grant date under the Equity Plan. The per share exercise price of such LTIP Options will equal the weighted average and the exchange rate of a Share for the five (5) day period immediately preceding the grant date. If, during the twelve (12) months immediately following the occurrence of a Change in Control, the Employee experiences a termination of employment under circumstances which would entitle him to severance under Section 4(b) of this Agreement, all then-unvested LTIP Options will vest and be cancelled in exchange for a cash payment equal to the aggregate spread (if any) with respect to such LTIP Options.
Annual Long Term Incentive Program. (“LTIP”) Options. The Employee will be eligible to participate in the FREYR Battery LTIP. Subject to the approval by the Board, the Employee will receive an award of 300,000 options to purchase Parent common stock (the “LTIP Options”), to be granted per annum (such amount to be pro-rated for 2022) and for each of 2023 and 2024. The 2022 LTIP Options will be granted in accordance with the standard grant schedule for the LTIP. The 2023 and 2024 LTIP Options will be granted on the anniversary of such grant date in each such year. The LTIP Options shall vest in three (3) equal tranches over a period of three (3) years from the grant date and once vested will remain exercisable for a term not to exceed five (5) years from the grant date under the Equity Plan. The per share exercise price of such LTIP Options will equal the weighted average and the exchange rate of a Share for the five (5) day period immediately preceding the grant date. If, during the twelve (12) months immediately following the occurrence of a Change in Control, the Employee experiences a termination of employment under circumstances which would entitle him to severance under Section 6(b) of this Agreement, all then-unvested LTIP Options will vest and be cancelled in exchange for a cash payment equal to the aggregate spread (if any) with respect to such LTIP Options.
