Annual PSU Grants in Respect of 2020 and 2021 Sample Clauses

Annual PSU Grants in Respect of 2020 and 2021. On the Grant Date, the Executive shall be granted a performance-based restricted stock unit (PSU) award in respect of the 2020 and 2021 annual grant cycles of the Company, with a target amount of Seven Hundred Eighty Thousand (780,000) shares of the Company’s common stock (the number of shares in each case being subject to adjustment based on stock splits, reverse stock splits, other adjustments, or recapitalizations between the date hereof and the grant date of such PSU award) (the “Annual PSUs” and together with the Annual RSUs and the Sign-On RSUs, the “Initial Awards”). The Annual PSUs shall be granted pursuant to the terms and conditions of the 2015 Incentive Plan and an individual Annual PSU agreement, in the form attached hereto as Exhibit C (the “PSU Agreement”).
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