Initial Grant of Restricted Stock. On the Acquisition Date, the Company shall grant to the Employee a special grant of Company common stock under the Company's restricted stock program, the number of such restricted shares to be determined by dividing $300,000 by the closing price of the Company's common stock on the New York Stock Exchange on the last regular trading day immediately prior to the Acquisition Date. All restrictions on such stock shall lapse on the day following the first anniversary of the Acquisition Date if the Employee is still then employed by the Company or as otherwise provided under Section 8 of this Agreement.
Initial Grant of Restricted Stock. Company shall grant Executive 10,000 shares of the Company's restricted stock. The grant shall be priced equal to the Fair Market Value on the Executive's first day of employment under this Agreement. The shares shall vest at 25% per year, commencing on the first anniversary of the grant date.
Initial Grant of Restricted Stock. Executive shall be granted an award of restricted stock as of the Effective Date (the “Sign-On Grant”), which will vest as to one third of the shares on the third, fourth and fifth anniversaries of the Effective Date, provided Executive is then employed by the Company, or in full upon an occurrence of a Change in Control, the giving by the Company of a Notice of Non-Renewal, or Executive’s earlier termination of employment due to his Death, Retirement (as defined below), Disability or as provided in Section 7(d) or 8(a) of this Agreement. The number of shares subject to the Sign-On Grant shall be determined by dividing $2,700,000 by the fair market value of the Company’s common stock on the Effective Date. As the record owner, Executive shall be entitled to full voting and dividend rights with respect to such shares from and after the date of grant, even while they are subject to a risk of forfeiture.
Initial Grant of Restricted Stock. As of the Effective Date, the Company shall grant to the Executive 300,000 shares of restricted Common Stock. Such grant shall be pursuant to an agreement, in customary form reasonably acceptable to the Executive and no less favorable to the Executive in any respect than the form used for any corresponding grant to the Chief Executive Officer of the Company, which agreement shall provide for the vesting of such shares over two years subject to the attainment of certain performance criteria determined by the Compensation Committee of the Company and shall contain provisions for the acceleration of vesting upon a termination of employment or Change in Control consistent with the provisions of Sections 9 and 10(a). The Executive shall be entitled, pursuant to such agreement, to retain all dividends and other distributions with respect to such shares that are declared prior to any vesting or forfeiture of such shares.
Initial Grant of Restricted Stock. Shortly following the closing of the Company’s acquisition of CBS Radio Inc. (or the termination of the underlying merger agreement without closing), the Compensation Committee will grant you 50,000 shares of restricted stock under the Entercom Equity Compensation Plan (including any replacement thereof) (the “Plan”). Subject to your continued employment with the Company through the vesting date, such grant shall vest as follows: 50% on the second anniversary of the date of commencement of your employment hereunder and 25% on each of the third and fourth anniversaries of the date of commencement of your employment hereunder. Consistent with the foregoing, the terms of such grant shall be set forth in a grant instrument in the form approved by the Compensation Committee.
Initial Grant of Restricted Stock. Within sixty (60) days following the Effective Date, the Employee shall be awarded Restricted Stock consisting of Class A Shares of common stock of the Company with a value of $2,450,000 on the date of the grant (the “Initial Grant”), which shall vest 25% on each of the first four (4) anniversaries of the date of grant subject to your continued employment through the applicable vesting date. Notwithstanding anything to the contrary provided herein, these shares shall at all times be governed by the terms of the applicable award agreement and the Duck Creek Technologies, Inc. 2020 Omnibus Incentive Plan.
Initial Grant of Restricted Stock. At the first regularly scheduled meeting of the Board after the commencement of the Term, the CEO shall seek approval from the Board for a grant of restricted common stock of the Company in the amount of $500,000 and on such other terms as contained in the Performance Stock Award Agreement attached hereto as Exhibit A.
Initial Grant of Restricted Stock
