Inducement Award. The Participant acknowledges that the grant of the Option hereunder satisfies in full the Company’s obligation to provide the Participant with an option grant as described in the Employment Agreement. The Participant acknowledges that the grant of DB1/ 119262344.2 the Option hereunder is intended to be in consideration for, in part, the covenants set forth in Section 15 of the Employment Agreement.
Inducement Award. The Participant acknowledges that the grant of the Stock Units hereunder satisfies in full the Company’s obligation to provide the Participant a restricted stock unit grant as described in the Employment Agreement. The Participant acknowledges that the grant of the Stock Units hereunder is intended to be in consideration for, in part, the covenants set forth in Section 15 of the Employment Agreement.
Inducement Award. The Participant acknowledges that the grant of the Option hereunder satisfies in full BrightSphere’s obligation to provide him the “ Inducement Award ,” as defined and described in Section 4.1(B) of the Employment Agreement. The Participant further acknowledges that the grant of the Option hereunder is intended to be in consideration for, in part, the post-termination noncompetition provisions of Section 6.2(B) of the Employment Agreement.
Inducement Award. This award of Restricted Stock is granted in accordance with exemption for employment inducement awards set forth under Section 303A.08 of the New York Stock Exchange Listed Company Manual, and has not been approved by the Company’s shareholders.
Inducement Award. As inducement material to Executive’s acceptance of employment, Executive is granted an equity award of 5,263,152 long-term incentive plan units representing profit interests in Supertel Limited Partnership (“LTIP Units”) earned in one-third (1/3) increments upon the Company’s common stock first achieving during the term of this Agreement each of the following volume weighted average common stock price per share milestones for twenty (20) consecutive trading days:
(i) $3.50
(ii) $4.50
(iii) $5.50 Earned LTIP Units will vest three (3) years from the date of this Agreement. Vested LTIP Units shall convert into an equal number of common operating units of Supertel Limited Partnership, provided, however, that redemption of such common operating units by Executive shall be delayed as necessary, such that any equity issued by the Company would not cause Executive to exceed the ownership limitations set forth in Company’s charter.
Inducement Award. This Option is granted to Participant as a material inducement to the commencement of employment within the meaning of the Listing Rule. This Option is not intended to qualify as an Incentive Stock Option and shall be regarded as a Nonstatutory Stock Option.
Inducement Award. This RSU Award is granted to Participant as a material inducement to the commencement of employment within the meaning of the Listing Rule.
Inducement Award. This Option is made and granted as a stand-alone award, separate and apart from, and outside of, the PowerFleet, Inc. 2018 Incentive Plan (the “Plan”) and shall not constitute an award granted under or pursuant to the Plan. The grant of this Option is intended to constitute an “employment inducement grant” under Rule 5635(c)(4) of the Nasdaq Listing Rules. However, except as otherwise expressly stated herein, this option is governed by terms and conditions identical to those of the Plan, which are incorporated herein by reference. In the event of any conflict between the terms and conditions of this Grant Agreement and the terms and conditions of the Plan, the terms and conditions of this Grant Agreement shall govern. Capitalized terms used herein and not otherwise defined shall have the meaning set forth in the Plan.
Inducement Award. On July 19, 2021, Executive shall be granted a non-statutory stock option, a restricted stock unit award and performance units under the Omnibus Plan. The stock option will have an approximate value of $68,750 based on the per-share closing price of the Company’s common stock on the date of grant, a per-share exercise price equal to the per-share closing price of the Company’s common stock on the date of grant, and a term of ten years. Such award will, subject to continued employment, utilize three-year pro-rata vesting commencing on the first anniversary of the date of grant. The restricted stock unit award will have an approximate value of $68,750 based on the per-share closing price of the Company’s common stock on the date of grant. Such award will vest, subject to continued employment, in the same manner as the stock option. The performance awards, which will have an approximately value of $137,500, may be earned based upon 3-year cumulative non-GAAP adjusted earnings per diluted share, subject to a 3-year relative TSR modifier based on the Company’s TSR against the S&P 400 Mid-Cap Index. All of such awards shall have such other terms and conditions as specified by the Company.
Inducement Award. The Participant acknowledges that the grant of the Restricted Stock hereunder satisfies in full the Corporation’s obligation to provide him that portion of the “Inducement Award” as described in Section 2(c)(i)(2) of the Employment Agreement. The Participant further acknowledges that the grant of the Restricted Stock hereunder is intended to be in consideration for, in part, the covenants set forth in Section 14 of the Employment Agreement.
