Inducement Award. The Participant acknowledges that the grant of the Option hereunder satisfies in full the Corporation’s obligation to provide him that portion of the “Inducement Award” as described in Section 2(c)(i)(1) 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 covenants set forth in Section 14 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 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.
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. As further inducement to entering into this Agreement Executive shall receive a cash payment of $900,000 on the Effective Date and the following on May 3, 2010:
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:
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. This Award 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. This Award is intended to constitute an “employment inducement award” under New York Stock Exchange (“NYSE”) Listing Rule 303A.08, and consequently is intended to be exempt from the NYSE rules regarding shareholder approval of equity-compensation plans. This Agreement and the terms and conditions of the Option shall be interpreted in accordance and consistent with such exemption.
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.
