Common use of Initial Commitment Award Clause in Contracts

Initial Commitment Award. As of the Effective Date, Executive shall be granted an award of LTIPs (the “Initial Commitment Award”). The number of LTIPs to be issued pursuant to this Section 4 shall be determined by dividing $1,250,000 by the volume weighted average price of a share of the REIT’s Class A Common Stock, as reported on the NYSE MKT (or then-applicable Exchange), for the twenty (20) trading days immediately preceding the date of grant. The Initial Commitment Award will vest and become nonforfeitable in five equal annual installments on each anniversary of the Effective Date, subject to provisions set forth in Sections 3(f) and 5 of this Agreement.

Initial Commitment Award. As of the Effective Date, Executive Service Provider shall be granted an award of LTIPs (the “Initial Commitment Award”). The number of LTIPs to be issued pursuant to this Section 4 shall be determined by dividing $1,250,000 by the volume weighted average price of a share of the REIT’s Class A Common Stock, as reported on the NYSE MKT (or then-applicable Exchange), for the twenty (20) trading days immediately preceding the date of grant. The Initial Commitment Award will vest and become nonforfeitable in five equal annual installments on each anniversary of the Effective Date, subject to provisions set forth in Sections 3(f) and 5 of this Agreement.

Initial Commitment Award. As of the Effective Date, Executive shall be granted an award of LTIPs (the “Initial Commitment Award”). The number of LTIPs to be issued pursuant to this Section 4 shall be determined by dividing $1,250,000 500,000 by the volume weighted average price of a share of the REIT’s Class A Common Stock, as reported on the NYSE MKT (or then-applicable Exchange), for the twenty (20) trading days immediately preceding the date of grant. The Initial Commitment Award will vest and become nonforfeitable in five equal annual installments on each anniversary of the Effective Date, subject to provisions set forth in Sections 3(f) and 5 of this Agreement.

Initial Commitment Award. As of the Effective Date, Executive shall be granted an award of LTIPs (the “Initial Commitment Award”). The number of LTIPs to be issued pursuant to this Section 4 shall be determined by dividing $1,250,000 2,500,000 by the volume weighted average price of a share of the REIT’s Class A Common Stock, as reported on the NYSE MKT (or then-applicable Exchange), for the twenty (20) trading days immediately preceding the date of grant. The Initial Commitment Award will vest and become nonforfeitable in five equal annual installments on each anniversary of the Effective Date, subject to provisions set forth in Sections 3(f) and 5 of this Agreement.