Inducement Awards. Subject to the approval of the Compensation Committee, on the Effective Date you will be awarded the following “new-hire” inducement grants (“Inducement Awards”):
Inducement Awards. In consideration of Employee entering into this Agreement and as an inducement to join the Company, on or as soon as reasonably practicable following the Effective Date, the Company shall grant Employee, under the Swift Energy Company Inducement Plan (the “Inducement Plan”), the following:
Inducement Awards. Upon the occurrence of a Change in Control of the Company, if Executive is employed by the Company at the time of such Change in Control, the Inducement Awards, to the extent not vested, shall immediately vest in full.
Inducement Awards. On or as soon as reasonably practicable after Effective Date, but in no event later than five (5) days after the Effective Date, the Company shall grant to Executive the following incentive awards, which shall have been approved by the Board on or before the Effective Date, pursuant to and as defined in the Company’s 2021 Equity Incentive Plan (the “2021 Incentive Plan”) and subject to the terms and conditions of the applicable award agreement:
Inducement Awards. Upon the occurrence of a Change in Control of the Company, if Executive is employed by the Company at the time of such Change in Control, the Inducement Awards, to the extent not vested, shall immediately vest in full. Any restricted stock units awarded with respect to Inducement PSUs based on achievement of applicable performance targets shall become immediately fully vested, if Executive is employed by the Company at the time of such Change in Control.
Inducement Awards. In consideration of Executive entering into this Agreement and as an inducement to join the Company, on or within ten (10) days following the Effective Date, the Company shall grant Executive: (A) a one-time award of restricted stock awards (the “Inducement Time-Based Award”) and (B) a one-time award of performance stock units (the "Inducement Performance-Based Award" and, together with the Inducement Time-Based Award, the “Inducement Equity Awards”), in each case, under the LTIP. The Inducement Time-Based Award shall have a value, as determined by the Board (or a committee thereof) as of the applicable date of grant, equal not less than 100% of Executive's Base Salary. The Inducement Time-Based Award shall vest in three substantially equal installments on the first three anniversaries of the applicable date of grant so long as Executive has remained continuously employed by the Company between the date of grant and each such anniversary date (except as provided below), as applicable. The Inducement Performance-Based Award shall have a target value, as determined by the Board (or a committee thereof) as of the applicable date of grant, equal not less than 150% of Executive's Base Salary. The Inducement Performance-Based Award shall vest based on satisfaction of certain absolute and relative performance conditions established by the Board (or a committee thereof), in its sole discretion, and set forth in the applicable award agreement. Except as provided expressly in Section 4 below, the Inducement Equity Awards shall be subject in all respects to, and governed by, the terms and conditions set forth in the LTIP and the applicable award agreement governing each such award.
Inducement Awards. The Company will grant Executive awards (the “Inducement Awards”) under the LTIP in the forms of award agreement provided to Executive with this Agreement consistent with this Section 5(b). The Inducement Awards shall have an aggregate target value of $1,000,000 broken down as follows: (i) for the three-year performance period commencing on January 1, 2019 (the “2019-2021 Performance Period”), a performance cash award with a target value of $750,000 and (ii) an award of cash-settled appreciation rights (“CSARs”) with an initial value of $250,000. The Inducement Awards shall be granted at the same time that the Company makes its October 2019 grants (and, for the avoidance of doubt, the base price for the CSARs shall be determined in the same manner as other October 2019 grants) and shall be subject to the same terms and conditions, including performance metrics, as applicable to awards granted to other employees under the LTIP with respect to the 2019-2021 Performance Period; provided, however, that if Executive’s employment with the Company is terminated (a) by the Company without Cause (as defined in the LTIP), (b) by Executive for Good Reason (as defined in the LTIP) or (c) as a result of Executive’s death or Disability (as defined in the LTIP), then (i) all CSARs subject to the UL Inc. 000 Xxxxxxxxx Xxxx, Northbrook, IL 60062-2096 USA T: 847.272.8800 / F: 847.272.8129 / W: XX.xxx Xxxxx Xxxxxxx Letter Agreement August 21, 2019 Page 3 of 21 Inducement Awards shall become fully vested as of the effective date of such termination and shall be automatically exercised on the immediately following Exercise Date and (ii) the performance cash portion of the Inducement Awards shall not be forfeited and shall fully time-vest and be paid (if at all) at the same time that performance cash awards granted to other employees with respect to the 2019-2021 Performance Period are paid (if at all) and based on the extent to which the Performance Metrics (as defined in the LTIP) for the 2019-2021 Performance Period are achieved; provided further, however, that if such termination occurs upon or following a Change in Control (as defined in the LTIP), payment of the performance cash portion of the Inducement Awards shall be made at the time of such termination at not less than target value.
Inducement Awards. (i) The Board or the Committee shall, in accordance with the form of award attached hereto as Exhibit A, award Executive as of the Effective Date such number of restricted stock units (the "INDUCEMENT RSUS") as equals the quotient of (A) $300,000 divided by (B) the Fair Market Value (as defined under the Company's 2001 Long-Term Performance Incentive Plan (the "Plan")) of one share of Common Stock on the Effective Date, in accordance with the form of award attached hereto as Exhibit A. The Inducement RSUs shall vest in full on the fifth anniversary of the Effective Date, provided that Executive has been continuously employed by the Company through such date for the Inducement RSUs to so vest, except as otherwise provided hereunder and in the award agreement.
Inducement Awards. Executive shall receive inducements awards as follows (i) an award of five hundred thousand (500,000) Restricted Stock Units to be granted on the Effective Date that shall vest 1/3 annually on the anniversary date of the grant over a period of three years and shall be otherwise subject to the terms and conditions of the Rite Aid Corporation 2014 Omnibus Equity Plan; and (ii) seven hundred fifty thousand dollars ($750,000.00) payable net of tax withholding within the ten (10) days of the Effective Date subject to repayment to the Company by Executive in full, during the twelve (12) month period of time beginning with the Effective Date of this Agreement, should Executive be terminated by the Company for Cause or should Executive resign without Good Reason. Any repayment required hereunder shall be paid in full within sixty days after Executive’s termination of employment by the Company for Cause or by Executive without Good Reason (the “Repayment Deadline”). If Executive does not make the required repayment in full by the Repayment Deadline, then the Company may, in its sole discretion, either (a) offset any other amounts payable to Executive by the Company or any of its Affiliates in satisfaction of the repayment or (b) cause Executive to forfeit (or otherwise recoup) any equity interests that the Executive holds in respect of the Company or any of its Affiliates, in each case subject to applicable law.
Inducement Awards. As further consideration for this letter agreement and to further encourage your retention and Company performance through the end of the Term, the Company will grant two special equity awards to you (the “Inducement Awards”):
