Incentive Equity Award Clause Samples
Incentive Equity Award. Within thirty (30) days following the Effective Date, the Executive shall be granted an equity-based incentive award (an “Incentive Equity Award”) in the form of an award of 1,170,628 Class B Shares of Constellation (BC) Poolco S.C.A. (“Poolco”), which are intended to be “profits interests” for U.S. federal income tax purposes and will be allocated 50% time-vesting and 50% performance-vesting. The Incentive Equity Award will be subject to the terms of the Side Letter attached hereto as Exhibit A, as well as the governing documents set forth in Section 2(c)(iv) below.
Incentive Equity Award. Upon execution of this Agreement, Executive shall be granted restricted stock units (“RSUs”) with respect to 67,720 shares of common stock of the Company, pursuant to the terms of the Verso Corporation Performance Incentive Plan.
Incentive Equity Award. Subject to approval by the Compensation Committee of the Board of Directors of Ascent Capital Group Inc., as part of the consideration for Executive’s services to the Company during the Term, the Company shall grant to Executive, pursuant to the Ascent Capital Group, Inc. 2015 Omnibus Incentive Plan or such successor incentive plan as may be in place from time to time (the “Plan”):
(i) 5000 restricted shares of ASCMA Class A Common Stock (the “Restricted S hares”), subject to the Ascent Capital Group, Inc. 2015 Omnibus Incentive Plan Restricted Stock Award Agreement; and (b) Subject to compliance with the terms of this Amended and Restated Employment Agreement, the Restricted Shares shall vest as follows: (i) 20% as of June 14, 2016; (ii) 30% as of December 31, 2016 and (iii) 50% as of March 31, 2017.
Incentive Equity Award. In further consideration of your performance of your duties and obligations under this Agreement, and subject to all of the terms and conditions of Company’s Amended and Restated Equity Incentive Plan (“Plan”), the accompanying Working Unit Agreement, and governing provisions of Company’s Amended and Restated Operating Agreement (“Operating Agreement”), the Company grants you an “Incentive Equity Award” representing, on a post-money fully diluted basis as of June 15, 2017, approximately 19% of the Company’s outstanding equity in the form of unvested Working Units. For avoidance of doubt, this percentage does not include Series A Units purchased by you. The vesting, terms, and conditions of the Incentive Equity Award are set forth in the “Working Units Agreement” appended hereto as Exhibit B, the terms and conditions of which are incorporated herein by this reference as though set forth in their entirety.
Incentive Equity Award of the Original Agreement shall be amended by the addition of the following provision:
Incentive Equity Award. On or following the Effective Date, the Executive shall, in addition to the Base Salary and the Incentive Bonus, receive a grant of equity-based compensation in the form of incentive units (the “Equity Award”}, intended to qualify as “profits interest” within the meaning of Rev. Proc. 93-27, 1993-2 C.B. 343, as clarified by Rev. Proc. 2001-43, 2001-2 C.B. 191 (the “Incentive Units”}.
Incentive Equity Award. Upon execution of the Prior Agreement, Executive was granted restricted stock units (“RSUs”) under the Notice of Management Stock Unit Award, Time-Based, dated April 5, 2019 with respect to 67,720 shares of common stock of the Company (the “Award Agreement”), pursuant to the terms of the Verso Corporation Performance Incentive Plan. In connection with the execution of this Agreement, the Award Agreement will be amended to reflect the terms set forth in this Section 2(c)(ii).