Initial Equity Grants. Executive will receive on the Start Date an award of (i) options to purchase 15,000 shares of the Employer's common stock and (ii) restricted stock units representing 20,000 share of the Employer's common stock. The options will have an exercise price equal to the mean between the lowest and highest reported sale prices of the Employer's common stock on the Start Date, will vest and become fully exercisable in three substantially equal installments beginning on the first anniversary of the Start Date, subject to your continued employment through each vesting date, and will have a ten year term. The restricted stock units will become vested and settled in shares of the Employer's common stock as follows, subject to your continued employment through each vesting date: 25% on the first anniversary of the Start Date, 25% on the second anniversary of the Start Date and 50% on the third anniversary of the Start Date.
Initial Equity Grants. On the Effective Date, the Company shall grant Employee equity grants under the Company’s 2020 Long Term Incentive Plan, with respect to an aggregate target of 162,539 shares of the Company’s common stock (the “Initial Equity Grants”), which aggregate target number of shares shall be allocated as follows: (i) 25% to time-based restricted stock units, the award agreement for which is attached hereto as Exhibit B; (ii) 25% to relative total shareholder return performance share units, the award agreements for which are attached hereto as Exhibits C-1 and C-2; and (iii) 50% to absolute total shareholder return performance share units, the award agreements for which are attached hereto as Exhibits D1 and D2. The Initial Equity Grants shall be made pursuant to, and shall be subject to the terms and conditions set forth in, the award notices executed and delivered by Employee and the Company contemporaneously herewith, the award agreements, and the 2020 Long Term Incentive Plan.
Initial Equity Grants. Subject to approval by the Board or its designee, you will be granted on or as soon as reasonably practicable following the Start Date:
Initial Equity Grants. Within thirty (30) days (“Grant Date”) following the approval by the stockholders of an equity plan in the form and with such terms and conditions as determined in the sole discretion of the Company (the Company hereby agreeing to use its reasonable efforts to have the stockholders approve such equity plan at the 2014 Annual Stockholders Meeting), the Executive shall receive the following equity awards:
Initial Equity Grants. Contemporaneous with the commencement of Executive’s employment with the Company, the Company will grant to Executive an option to purchase Four Hundred Thousand (400,000) shares of the Company’s Common Stock. The Option Shares will vest according to the following schedule, subject to Executive’s continued service to the Company: (i) 12.5% of the Option Shares will vest on the first six months of the date of grant, and (ii) the remaining 87.5% of the Option Shares will vest in fourteen equal and successive quarterly installments upon the Executive’s completion of each additional three (3) month period of service thereafter. In addition, contemporaneous with the commencement of Executive’s employment, Executive will be granted Fifty Thousand (50,000) restricted shares of the Company’s Common Stock (the “Restricted Shares”), subject to the terms of the Company’s Restricted Stock Agreement (the “Restricted Stock Agreement”) and the Company’s Stock Incentive Plan. The Restricted Shares will vest according to the following schedule, subject to Executive’s continued service to the Company: 25% of the Restricted Shares will vest on the first anniversary of the date of grant, and an additional 25% of the Restricted Shares will vest on each anniversary thereafter for the next three years. The date of grant and the exercise or purchase price per share of the Restricted Shares will be determined by the Board.
Initial Equity Grants. Subject to, and contingent upon the occurrence of the Start Date, the Company will cause the Promote Entities (as defined below) to issue equity incentive awards (the “Initial Equity Grants”) to Executive in each of the promote pools that comprise the Company’s equity incentive program as of the Start Date (the “Existing Promote Entities” and, together with any subsequent promote pools, collectively, the “Incentive Plan”). The Initial Equity Grants, taken together with Executive’s subsequent grants under the Incentive Plan (collectively, the “Equity Grants”), shall have a target aggregate exit value equal to approximately $5,000,000, provided, that the Initial Equity Grants shall include grants of Class B Units in each of the following Promote Entities: Promote Entity Class B Units Invitation Homes L.P. 70.0 Invitation Homes 2-A L.P. 100.0 Preeminent Parent L.P. 100.0 Invitation Homes 3 L.P. 100.0 Invitation Homes 4 L.P. 100.0
Initial Equity Grants. As soon as practicable following the Effective Date, the Company shall grant Executive 325,000 restricted shares of common stock of the Parent (“Common Stock”), an option to purchase 325,000 shares of Common Stock at an exercise price equal to the fair market value per share of Common Stock as of the grant date, and an option to purchase 325,000 shares of Common Stock at an exercise price equal to the greater of $13.00 or the fair market value per share of Common Stock as of the date of grant, in each case, subject to the term of the Parent’s 2014 Equity Incentive Plan (the “Equity Incentive Plan”) and the applicable award agreement. The options shall have a five year term and shall vest ratably on each of the first four anniversaries of the Effective Date, subject to the Executive’s continued employment with the Company on each applicable vesting date. The restricted shares shall vest as to 100% of such restricted shares on the third anniversary of the Effective Date, subject to the Executive’s continued employment with the Company on the vesting date; provided, however, that in the event that the Executive’s employment with the Company is terminated by the Company without Cause (as defined below) or by the Executive for Good Reason (as defined below) prior to the vesting date, then, notwithstanding anything herein to the contrary, the Executive shall become vested in a number of restricted shares as set forth below: Date of Termination Vested Restricted Shares (#) Prior to the first anniversary of the Effective Date 108,333 On or after the first anniversary but prior to the second anniversary of the Effective Date 216,666 On or after the second anniversary of the Effective Date 325,000
Initial Equity Grants. On the same date in the first quarter of the Company’s 2017 fiscal year on which options are first granted to other senior executives of the Company (and subject to the Executive’s continued employment on such grant date) (the “Option Grant Date”), the Executive will be granted a number of options to acquire Membership Units of the Parent (the “Options”) pursuant and subject to the New Academy Holding Company, LLC 2011 Unit Incentive Plan, as may be amended from time to time, and the terms and conditions of the form of an Option Award Agreement to be provided by the Company, which Options shall have a grant date fair value equal to $600,000.00. Sixty-six and two-thirds percent (662/3%) of the Options will be service-based and vest ratably over a period of four years from the Option Grant Date based solely on the Executive’s continued employment, in accordance with the terms of such Option Award Agreement. Thirty-three and one-third percent (331/4%) of the Options will be performance- and service-based and vest ratably over a period of four years from the Option Grant Date (generally) based on the Parent’s achievement of the performance goal established by the Compensation Committee of the Board for the first year only and thereafter, if the first-year performance goal was achieved, based solely on the Executive’s continued employment, in accordance with the terms of such Option Award Agreement. The Executive’s eligibility for equity awards in future fiscal years will be determined by the Board in its sole discretion.
Initial Equity Grants. Contemporaneously with this Agreement, pursuant to the Company’s 2008 Equity Incentive Plan (the “Equity Plan”), the Company shall grant to Executive:
Initial Equity Grants. Subject to the approval by the SSL Board of Directors, you will be eligible to receive a non-qualified option to purchase shares of common stock of SSL, comprised of two-thirds (2/3) non-qualified stock options and one-third (1/3) performance based Restricted Stock Units (RSUs) pursuant to the SunEdison Semiconductor Limited 2014 Long-Term Incentive Plan (the “Plan”), which shall have a total equivalent face value of $7,500,000 at the closing fair market value on the day of the initial public offering (IPO). The options will have a face value of $5,000,000 and will vest in accordance with the following vesting schedule: 1st anniversary of the hire date – 25%, 2nd anniversary of the hire date – 25%, 3rd anniversary of the hire date – 25% and 4th anniversary of the hire date – 25% (the “Sign-On Options”). The performance based RSUs with a face value of $1,250,000 will vest upon the attainment of $200 million EBITDA for fiscal years 2015, 2016, 2107 and 2018 following review by and approval of SSL’s Compensation Committee of the Board of Directors (the Sign-On RSUs”). If the company attains the targeted EBITDA in any fiscal year (2015, 2016, 2017 or 2018), the RSUs shall vest.
