Equity Award. The Executive will be eligible to receive equity awards, if any, at such times and on such terms and conditions as the Board shall, in its sole discretion, determine.
Equity Award. For purposes of this Agreement, “Equity Award” means each then outstanding award relating to the Company’s common stock (whether stock options, stock appreciation rights, shares of restricted stock, restricted stock units, performance shares, performance units or other similar awards).
Equity Award. An equity award opportunity (the “Equity Award”) during each calendar year with a target value (the “Target Equity Award”) equal to eighty percent (80%) (the “Target Equity Award Percentage”) of Employee’s Base Salary for the year in which the award is granted, such equity award to be awarded in accordance with the Company’s existing Long Term Incentive Plan, as such plan may be amended or replaced from time to time, or the equivalent (the “LTIP”). Pursuant to the terms of the LTIP, each annual equity award shall be made based on the achievement of performance goals, and may be higher or lower than the Target Equity Award based on achievement of those goals. For each calendar year during the term of this Agreement, the Board (or the Compensation Committee) of EFI will determine and will establish in writing (i) the applicable LTIP performance goals, which shall be reasonably achievable and if achieved would result in payment of the Target Equity Award, (iii) the percentage of annual Base Salary value to be awarded in equity to Employee if some lesser or greater percentage of the annual LTIP performance goals are achieved, and (iv) such other applicable terms and conditions of the LTIP necessary to satisfy the requirements of Section 409A of the Code.
Equity Award. As an inducement material to your entering into this Agreement, subject to approval of the Board, the Company will grant you a number of shares of the Company’s common stock (“Founders Shares”), at a purchase price equal to the fair market value on the date of grant, representing three percent (3%) of the Company on a fully diluted basis on the date of grant. The Founders Shares will be subject to a repurchase option in favor of the Company, which will lapse at the rate of 25% of the Founders Shares on each of the one year anniversaries of the date of grant; such that the repurchase option will terminate on the fourth anniversary of the date of grant, subject to your continued employment with the Company. In addition to the Founders Shares, at the closing of the Company’s Series A Preferred Stock financing round (the “Series A Financing”), the Company will grant you an option to purchase additional shares of the Company’s common stock to enable you to maintain one and one half percent (1.5%) equity interest in the Company on a fully diluted basis (together, the “Option”). The Option will be granted under an Equity Incentive Plan to be adopted by the Company (the “Plan”) and will have an exercise price per share equal to the fair market value (as defined in the Plan) of the Company’s common stock on the date of grant, and will vest with respect to one-fourth (1/4th) of the shares subject to the Option upon the one (1) year anniversary of the grant date and the remainder of the shares subject to the Option will vest in equal monthly increments over the three year period following such one (1) year anniversary of the grant date, subject to your continuous service with the Company. The Option will automatically accelerate vesting in the event of a “Change in Control” (as such term is defined in the Plan), subject to your continued services with the Company through the date of such Change in Control. You also will be eligible to participate in and receive additional stock option or equity award grants under the Company’s equity incentive plans from time to time, in the discretion of the Board, and in accordance with the terms and conditions of the Plan.
Equity Award. The Executive shall be eligible to receive stock options and other equity-based compensation awards under the Company's 2003 Long Term Incentive Compensation Plan and otherwise.
Equity Award. “Equity Award” shall mean Executive’s awards of options, stock appreciation rights, restricted shares or stock units with respect to the Company or its successor, or the direct or indirect parent of either, or of any deferred compensation into which such stock options, stock appreciation rights, restricted shares or stock units were converted upon or prior to a Change of Control.
Equity Award. Executive will be eligible to receive awards of stock options, restricted stock or other equity awards based upon Executive’s performance, as determined by the Board from time to time. The Board or its committee will determine in its discretion whether and when Executive will be granted any such equity awards.
Equity Award. The Executive shall be eligible to participate in the Parent’s 2013 Performance Incentive Plan (together with any successor equity incentive plan, the “Parent Equity Plan”) and to receive grants of equity awards under the Parent Equity Plan as may be approved from time to time by the Compensation Committee in its sole discretion.
Equity Award. Upon joining the Company, and subject to approval by the Company’s Board of Directors, you will be eligible to receive a stock option to purchase 100,000 shares of common stock. The purchase price per share will be equal to the fair market value of the Company’s common stock on the date of grant. Twenty-five percent (25%) of the shares subject to the option will vest on the one year anniversary of the vesting commencement date, December 5th, 2019, and the remainder will vest in equal monthly installments thereafter over the next thirty-six (36) months, subject to your continued service with the Company. The terms of the option will be governed by the Company’s 2020 Equity Incentive Plan (the “Plan”) and an option award agreement between you and the Company.
Equity Award. (a) As soon as reasonably practicable following the Effective Date and in no event later than fifteen business days following the Effective Date, the Company will grant Executive options (the “Options”) to purchase shares of non-voting common stock of the Company (the “Option Shares”) at an exercise price per Option Share equal to $100.00 per share. The specific terms and conditions governing all aspects of the Options shall be provided in separate grant agreements and any relevant plan documents (collectively, the “New Option Plan”). The Options shall be comprised of the following two tranches: (i) twenty percent (20%) of the Options (the “Time Based Options”) will vest and become exercisable in equal annual installments of twenty percent (20%) over a five-year period, subject to Executive’s continued employment with the Company through the applicable vesting date and (ii) eighty percent (80%) of the Options (the “Performance Based Options”) will vest and become exercisable only upon the achievement by the Company of certain performance targets in accordance with the New Option Plan.
(b) The New Option Plan shall represent a minimum of 8.64% of the fully-diluted shares of non-voting common stock of the Company immediately after consummation of the Merger, with 5.4% in the form of Time Based Options and 3.24% in the form of Performance Based Options, provided, that, such percentages may be increased on a one time basis in the good faith discretion of the Company to reflect the dividend rate on the Company’s non-voting preferred stock, consistent with the methodology for such adjustments previously provided to the Executive. Executive shall be granted in accordance with the foregoing provisions a number of Time Based Options equal to 20% of the total number of Time Based Options and a number of Performance Based Options equal to 39.23% of the total number of Performance Based Options. As a condition to Executive’s receipt of the Options pursuant to this Section 5, Executive shall execute an acknowledgment in form and substance reasonably acceptable to the Company that the Company has satisfied its obligations pursuant to this Section 5.
(c) Executive has been permitted, on a tax-free basis, to rollover existing Company stock outstanding prior to the Effective Date into shares of non-voting common stock and non-voting preferred stock of the Company following the Effective Date on the same basis and subject the same terms and conditions as other investors, in...
