Bonus and Equity Awards. Executive will be eligible for an On-Hire Cash Bonus, an Annual Bonus, an On-Hire Equity Award and Future Equity Awards in accordance with the terms and conditions of the Offer Letter. The Bonus Plan and all aspects of bonus compensation may be changed at the discretion of the Compensation Committee and/or the Board of Directors.
Bonus and Equity Awards. Executive shall be eligible to participate in the Company’s incentive bonus plans as may be adopted from time to time by the Board of Directors (or the Compensation Committee thereof), subject to and in accordance with the terms and conditions of such plans. Executive also may be eligible to receive equity awards under the Company’s equity plan, as may be adopted from time to time by the Board of Directors (or the Compensation Committee thereof).
Bonus and Equity Awards. Executive shall be eligible to participate in the Company’s incentive bonus plans as may be adopted from time to time by the Board of Directors (or the Compensation Committee thereof), subject to and in accordance with the terms and conditions of such plans, which shall not be paid later than March 15 of the calendar year immediately following the calendar year to which the bonus relates. The Executive’s target annual bonus opportunity shall be one-hundred percent (100%) of the Salary, or the highest target bonus opportunity available to any other executive of the Company, based on the achievement of performance goals set forth in the Company’s incentive bonus plan. Executive shall be eligible to receive a pro-rata bonus for his services during the period of time between the Effective Date and December 31, 2012 based upon Company performance. As of the Effective Date, the Company shall grant to Executive under the Xxxxxx Resources, Inc. 2010 Stock Incentive Plan (“2010 Plan”) 695,000 shares (the “First Tranche”) of Restricted Stock, as that term is defined under the 2010 Plan (the “Restricted Shares”). As of January 2, 2013, the Company shall grant to Executive under the 2010 Plan an additional 695,000 Restricted Shares (the “Second Tranche”). The form and other terms and conditions of the Restricted Shares will be subject to the terms of the Plan and a restricted share agreement. The Restricted Shares shall initially be unvested. Except as otherwise provided below, the Restricted Shares will vest, if at all, based on the average closing trading price (“ACTP”) of the Company’s Common Stock over any period of thirty (30) consecutive trading days (a “Thirty Day Period”) occurring during the period commencing on the Effective Date and ending on the last business day occurring before the fifth anniversary of the Effective Date (the “Performance Period”) as follows:
(i) 115,833 Restricted Shares from each of the First Tranche and the Second Tranche (each a “Tranche”) on the first day that the ACTP for any Thirty Day Period equals or exceeds $4.00, and
(ii) an additional 96,528 Restricted Shares from each Tranche on the first day that the ACTP for any Thirty Day Period equals or exceeds any higher whole dollar increment from $5 to $10. The above vesting formula (the “Formula”) is illustrated in its entirety in Appendix C attached hereto. The Formula will be adjusted as necessary to reflect any change in capitalization of the Company affecting the Common Stock of...
Bonus and Equity Awards. Executive shall be eligible to participate in the Company’s incentive bonus plans as may be adopted from time to time by the Board of Directors (or the Compensation Committee thereof), subject to and in accordance with the terms and conditions of such plans, which shall not be paid later than March 15 of the calendar year immediately following the calendar year to which the bonus relates. The Executive’s target annual bonus opportunity shall be up to sixty-two and one-half (62.5%) percent of the Salary, based on the achievement of performance goals set forth in the Company’s incentive bonus plan. Executive also may be eligible to receive equity awards under the Company’s equity plans, with the amount, terms and conditions of such equity awards to be determined by the Board of Directors (or the Compensation Committee thereof).
Bonus and Equity Awards. Subject to the conditions set forth below, Executive will be eligible for a bonus and equity award in accordance with the terms and conditions of the Offer Letter. The Bonus Plan and all aspects of bonus compensation may be changed at the discretion of the Compensation Committee and/or the Board of Directors.
Bonus and Equity Awards. During the Term, you will be considered for an annual cash award (the “Annual Cash Award”) and annual equity or equity-based awards (the “Annual Stock Incentive”). The annual target incentive opportunity for the Annual Cash Award for a particular fiscal year of the Company that ends during the Term shall be not less than One Hundred Percent (100%) of the base salary paid to you by the Company for that fiscal year. The grant date fair value (as determined by the Company based on its financial reporting methodology) for the Annual Stock Incentive award(s) granted to you for a particular fiscal year of the Company during the Term will be determined by the Committee in its discretion. The payment and/or vesting requirements applicable to any Annual Cash Award or Annual Stock Incentive will be determined in the Company’s sole discretion, and may include time- and service-based vesting conditions and/or performance-based vesting conditions (which may include corporate, business unit or division, financial, strategic, individual or other objectives). Any Annual Cash Award earned pursuant to this Section 4 shall be subject to your continued employment with the Company through the payment date of the award and paid between January 1 and March 15 of the year following the year for which such Annual Cash Award was earned; provided, however, that if the Committee shall determine that it is administratively impracticable, which may include inability of the Company to gain certification of its financial statements, to make such Annual Cash Award payment by March 15, any such payment shall be made as soon as reasonably practicable after such period and in no event later than December 31 of the year following the year for which such Annual Cash Award was earned.
Bonus and Equity Awards. Executive shall be eligible to participate in the Company’s incentive bonus plans as may be adopted from time to time by the Board of Directors (or the Compensation and Leadership Development Committee thereof), subject to and in accordance with the terms and conditions of such plans. Executive shall be eligible to receive an annual target bonus of 100% of Salary. Executive also may be eligible to receive future equity awards under the Company’s equity plan, with the amount, terms and conditions of such equity awards to be determined by the Board of Directors (or the Compensation and Leadership Development Committee thereof). Outstanding equity awards granted to Executive prior to the effective date of the Prior Agreement shall remain outstanding in accordance with their terms and conditions and are not modified by this Agreement. Outstanding equity awards granted to Executive on or after the effective date of the Prior Agreement and prior to the Effective Date shall remain outstanding in accordance with their terms and conditions; provided, however, that such equity awards are modified by the applicable terms of this Agreement.
Bonus and Equity Awards. Executive shall be eligible to participate in the Company’s incentive bonus plans as may be adopted from time to time by the Board of Directors (or the Compensation Committee thereof), subject to and in accordance with the terms and conditions of such plans. Subject to approval by the Board of Directors (or the Compensation Committee thereof), Executive shall be eligible to receive the following equity awards (“Awards”) under the Zillow Group Amended and Restated 2011 Incentive Plan (“Plan”):
(a) A nonqualified stock option for a number of shares of the Company’s Class C Capital Stock calculated by dividing $1,000,000 by the Black-Xxxxxxx-Xxxxxx value of an option on the Company’s Class C Capital Stock applying the valuation model inputs (i.e., expected volatility, expected dividend yield, risk-free interest rate, weighted-average expected life) used by the Company to value its stock options for financial reporting purposes for the fiscal quarter preceding the Effective Date, except that the current share price applied in the Black-Xxxxxxx-Xxxxxx model shall be equal to the average closing price of the Company’s Class C Capital Stock during the 30-day period preceding the Effective Date (the “Initial Option”). The Initial Option will have a ten (10)-year term (subject to earlier termination in the event of Executive’s termination of employment), a per share exercise price equal to the closing price of the Company’s Class C Capital Stock on the date of grant, and will vest in accordance with the following schedule: 1/4th of the total number of shares subject to the Initial Option shall vest on the one (1)-year anniversary of the Effective Date and an additional 1/16 shall vest quarterly thereafter over the next three (3) years. The Initial Option shall have the terms and conditions as set forth in a Nonqualified Stock Option Grant Notice and a Nonqualified Stock Option Agreement to be executed by Executive and the Company pursuant to the Plan.
(b) Restricted Stock Units for that number of shares of the Company’s Class C Capital Stock calculated by dividing $4,500,000 by the average closing price of the Company’s Class C Capital Stock on the sixty (60) trading days preceding the Effective Date (“Initial RSUs”), such Initial RSUs to vest and be settled in one (1) share of Class C Capital Stock for each share subject to the Initial RSUs in accordance with the following vesting schedule: 1/4th of the total number of Initial RSUs shall vest on the one (1)-year a...
Bonus and Equity Awards. Subject to the conditions set forth below, Executive Employment Agreement DocuSign Envelope ID: 34896899-D81D-4212-A970-965E22CA8B4B will be eligible for a bonus and equity award in accordance with the terms and conditions of the Offer Letter. The Bonus Plan and all aspects of bonus compensation may be changed at the discretion of the Compensation Committee and/or the Board of Directors.
Bonus and Equity Awards. (a) Executive shall be eligible to participate in the Company’s incentive bonus plans as may be adopted from time to time by the Board of Directors (or the Compensation Committee thereof), subject to and in accordance with the terms and conditions of such plans. Executive also may be eligible to receive equity awards under the Company’s equity plan, with the amount, terms and conditions of such equity awards to be determined by the Board of Directors (or the Compensation Committee thereof).
(b) As of the date hereof, Executive acknowledges prior receipt of fifty percent (50%) of a total hiring bonus of $130,000, of which $65,000 was paid following Executive’s commencement of employment with the Company on July 12, 2010. Subject to continued employment, Executive shall be eligible to receive the remaining fifty percent (50%) of the hiring bonus, or $65,000, on the first regularly scheduled payroll date that follows July 11, 2011. In the event Executive voluntarily terminates employment with the Company at any time prior to July 11, 2012, Executive shall reimburse the Company $65,000 of the hiring bonus received as of such termination date; provided, however, that such reimbursement to the Company shall not be required in the event Executive’s employment terminates under circumstances pursuant to which Executive is eligible to receive the payments and benefits set forth in Section 3.3 or Section 3.4.
