Common use of Equity Grants Clause in Contracts

Equity Grants. (a) During the Term, the Executive shall be eligible to participate in the Company's equity incentive plans. (b) Upon completion of the IPO, and in accordance with the terms of a long term incentive equity plan to be established by the Board for Executive, the Executive will be entitled to a one-time grant (the "IPO Grant") determined as follows; the IPO Grant will consist of (x) $450,000 of restricted common stock of the Company, the number of shares being determined based on the price at which the Company's common stock is sold to the public in the IPO (the "IPO Price") on the terms and conditions set forth on Appendix A and (y) stock options in respect of the Company's common stock having an exercise price of the IPO Price on the terms and conditions set forth on Appendix B with a black-scholes value of $450,000 based on the assumptions set forth on Appendix C. (c) Beginning in 2011, at the time equity grants are made to the Company's senior executives generally, and in accordance with the terms of a long term incentive equity plan to be established by the Board for Executive, the Executive shall receive annual equity grants, in the form and subject to such terms as may be determined by the Board. For 2011, the Executive will receive a grant of performance share units with a target value equal to an estimated grant date fair value (as determined by the Board or Committee in good faith) of 50% of the Executive's then Base Salary. For 2012 and calendar years following, the Executive's equity grants will have a target value equal to an estimated grant date fair value (as determined by the Board or Committee in good faith) of 100% of the Executive's then Base Salary and such grants shall consist of performance share units and stock options (as determined by the Board or Committee) in respect of the Company's common stock.

Equity Grants. (a) During the Term, the Executive shall be eligible to participate in the Company's equity incentive plans. (b) Upon completion of the IPO, and in accordance with the terms of a long term incentive equity plan to be established by the Board for Executive, the Executive will be entitled to a one-time grant (the "IPO Grant") determined as follows; the IPO Grant will consist of (x) $450,000 2.925 million of restricted common stock of the Company, the number of shares being determined based on the price at which the Company's common stock is sold to the public in the IPO (the "IPO Price") on the terms and conditions set forth on Appendix A and (y) stock options in respect of the Company's common stock having an exercise price of the IPO Price on the terms and conditions set forth on Appendix B with a black-scholes value of $450,000 2.925 million based on the assumptions set forth on Appendix C. (c) Beginning in 2011, at the time equity grants are made to the Company's senior executives generally, and in accordance with the terms of a long term incentive equity plan to be established by the Board for Executive, the Executive shall receive annual equity grants, in the form and subject to such terms as may be determined by the Board. For 2011, the Executive will receive a grant of performance share units with a target value equal to an estimated grant date fair value (as determined by the Board or Committee in good faith) of 50150% of the Executive's then Base Salary. For 2012 and calendar years following, the Executive's equity grants will have a target value equal to an estimated grant date fair value (as determined by the Board or Committee in good faith) of 100300% of the Executive's then Base Salary and such grants shall consist of performance share units and stock options (as determined by the Board or Committee) in respect of the Company's common stock.

Equity Grants. (a) During the Term, the Executive shall be eligible to participate in the Company's equity incentive plans. (b) Upon completion of the IPO, and in accordance with the terms of a long term incentive equity plan to be established by the Board for Executive, the Executive will be entitled to a one-time grant (the "IPO Grant") determined as follows; the IPO Grant will consist of (x) $450,000 843,750 of restricted common stock of the Company, the number of shares being determined based on the price at which the Company's common stock is sold to the public in the IPO (the "IPO Price") on the terms and conditions set forth on Appendix A and (y) stock options in respect of the Company's common stock having an exercise price of the IPO Price on the terms and conditions set forth on Appendix B with a black-scholes value of $450,000 843,750 based on the assumptions set forth on Appendix C. (c) Beginning in 2011, at the time equity grants are made to the Company's senior executives generally, and in accordance with the terms of a long term incentive equity plan to be established by the Board for Executive, the Executive shall receive annual equity grants, in the form and subject to such terms as may be determined by the Board. For 2011, the Executive will receive a grant of performance share units with a target value equal to an estimated grant date fair value (as determined by the Board or Committee in good faith) of 5075% of the Executive's then Base Salary. For 2012 and calendar years following, the Executive's equity grants will have a target value equal to an estimated grant date fair value (as determined by the Board or Committee in good faith) of 100150% of the Executive's then Base Salary and such grants shall consist of performance share units and stock options (as determined by the Board or Committee) of performance share units and stock options in respect of the Company's common stock.

Equity Grants. (a) During the Term, the Executive shall be eligible to participate in the Company's equity incentive plans. (b) Upon completion of the IPO, and in accordance with the terms of a long term incentive equity plan to be established by the Board for Executive, the Executive will be entitled to a one-time grant (the "IPO Grant") determined as follows; the IPO Grant will consist of (x) $450,000 843,750 of restricted common stock of the Company, the number of shares being determined based on the price at which the Company's common stock is sold to the public in the IPO (the "IPO Price") on the terms and conditions set forth on Appendix A and (y) stock options in respect of the Company's common stock having an exercise price of the IPO Price on the terms and conditions set forth on Appendix B with a black-scholes value of $450,000 843,750 based on the assumptions set forth on Appendix C. (c) Beginning in 2011, at the time equity grants are made to the Company's senior executives generally, and in accordance with the terms of a long term incentive equity plan to be established by the Board for Executive, the Executive shall receive annual equity grants, in the form and subject to such terms as may be determined by the Board. For 2011, the Executive will receive a grant of performance share units with a target value equal to an estimated grant date fair value (as determined by the Board or Committee in good faith) of 5075% of the Executive's then Base Salary. For 2012 and calendar years following, the Executive's equity grants will have a target value equal to an estimated grant date fair value (as determined by the Board or Committee in good faith) of 100150% of the Executive's then Base Salary and such grants shall consist of performance share units and stock options (as determined by the Board or Committee) in respect of the Company's common stock.

Equity Grants. (a) During the Term, the Executive shall be eligible to participate in the Company's equity incentive plans. (b) Upon completion of the IPO, and in accordance with the terms of a long term incentive equity plan to be established by the Board for Executive, the Executive will be entitled to a one-time grant (the "IPO Grant") determined as follows; the IPO Grant will consist of (x) $450,000 375,000 of restricted common stock of the Company, the number of shares being determined based on the price at which the Company's common stock is sold to the public in the IPO (the "IPO Price") on the terms and conditions set forth on Appendix A and (y) stock options in respect of the Company's common stock having an exercise price of the IPO Price on the terms and conditions set forth on Appendix B with a black-scholes value of $450,000 375,000 based on the assumptions set forth on Appendix C. (c) Beginning in 2011, at the time equity grants are made to the Company's senior executives generally, and in accordance with the terms of a long term incentive equity plan to be established by the Board for Executive, the Executive shall receive annual equity grants, in the form and subject to such terms as may be determined by the Board. For 2011, the Executive will receive a grant of performance share units with a target value equal to an estimated grant date fair value (as determined by the Board or Committee in good faith) of 50% of the Executive's then Base Salary. For 2012 and calendar years following, the Executive's equity grants will have a target value equal to an estimated grant date fair value (as determined by the Board or Committee in good faith) of 100% of the Executive's then Base Salary and such grants shall consist of performance share units and stock options (as determined by the Board or Committee) in respect of the Company's common stock.