Initial Long-Term Incentive Award. As soon as practicable following commencement of employment, you will receive an Initial Long Term Incentive award (LTI) — subject to approval of the Corporation’s Board of Directors, based on a total estimated grant value of $288,750. · 45% Performance based RSUs (3 year performance vesting, concurrent with NEO 2014 performance grants) · 30% Time based RSUs (50% of which shall vest at March 31, 2015 and 25% vesting at grant date anniversaries in each of 2015 and 2016) · 25% Stock Options (50% of which shall vest at March 31, 2015 and 25% vesting at grant date anniversaries in each of 2015 and 2016) · 100% vesting in the event of termination without cause or Good Reason following a change in control · Performance Accelerator eligible (additional stock valued at up to 50% of value of annual LTI award, based on achievement of annually established financial performance goals above budget)
Initial Long-Term Incentive Award. Employee was granted 17,500 restricted stock units in connection with his commencement of employment pursuant to the Corporation’s 2011 Incentive Award Plan. The foregoing award is evidenced by a Restricted Stock Unit Award Grant Notice executed by the Employee and the Corporation. Vesting shall be 1/3rd on each of the first three anniversaries of the grant date thereafter, with full vesting at the third anniversary of the grant date. There shall be accelerated vesting of 100% of the initial long-term incentive award upon Employee’s termination of employment by the Corporation without Cause or Employee’s resignation for Good Reason following a Change in Control (as defined in the Corporation’s 2011 Incentive Award Plan, as amended on January 24, 2013).
Initial Long-Term Incentive Award. Employee shall be granted 100,000 restricted stock units as soon as practicable after the effective date of this Agreement, subject to the approval of the Board of Directors of the Corporation or the Compensation Committee thereof. Such grant shall be made pursuant to the Corporation’s 2011 Incentive Award Plan, and shall be evidenced by a Restricted Stock Unit Award Grant Notice and subject to the terms of the Restricted Stock Unit Award Agreement, in the same form as that applicable to other executives of the Corporation, and shall be executed by the Employee and the Corporation. Vesting shall be ¼ on the day that is 90 days following the grant date and ¼ on each of the first three anniversaries of the grant date thereafter, with full vesting at the third anniversary of the grant date. There shall be accelerated vesting of 100% of the initial long-term incentive award upon Employee’s termination of employment by the Corporation without Cause or Employee’s resignation for Good Reason.
Initial Long-Term Incentive Award. Employee shall be granted 17,500 restricted stock units as soon as practicable after the effective date of this Agreement, subject to the approval of the Board of Directors of the Corporation or the Compensation Committee thereof. Such grant shall be made pursuant to the Corporation’s 2011 Incentive Award Plan, and shall be evidenced by a Restricted Stock Unit Award Grant Notice and subject to the terms of the Restricted Stock Unit Award Agreement, in the same form as that applicable to other executives of the Corporation, and shall be executed by the Employee and the Corporation. Vesting shall be 1/3rd on each of the first three anniversaries of the grant date thereafter, with full vesting at the third anniversary of the grant date. There shall be accelerated vesting of 100% of the initial long-term incentive award upon Employee’s termination of employment by the Corporation without Cause or Employee’s resignation for Good Reason following a Change in Control (as defined in the Corporation’s 2011 Incentive Award Plan).
Initial Long-Term Incentive Award. As soon as practicable following the execution of this Agreement, but in no event later than 30 days following the Effective Date, the Company shall grant to Executive an initial equity award of 60,000 restricted stock units (the “RSUs”) pursuant to the Company’s 2011 Incentive Award Plan (the “2011 Plan”). 30,000 of the RSUs shall vest in three equal installments on each anniversary date of the initial date of grant and 30,000 of the RSUs shall vest at the end of a three year performance period to include calendar years 2013, 2014, and 2015 based on cumulative achievement of 8% annual EBITDA growth, subject to Executive’s continued employment or service with the Company through each applicable vesting date. In addition, the RSUs shall vest on an accelerated basis upon a termination of Executive’s employment by the Corporation without Cause, upon a termination of Executive’s employment for Good Reason, or upon the expiration of the Employment Period following notice by the Corporation of its election not to renew the Employment Period pursuant to Section 1, in each case, to the extent such event occurs following a Change in Control. RSUs shall be subject to such further terms and conditions as are set forth in the 2011 Plan and the form of restricted stock unit agreement approved by the Board or the Compensation Committee thereof for awards of restricted stock units thereunder.
Initial Long-Term Incentive Award. As soon as administratively practicable after the Effective Date of this Agreement, and in partial consideration for the same, Company shall seek approval from the Compensation Committee for a restricted stock unit award under the Equity Plan for a number of units equal to $1,250,000 based on the closing share price of the Company’s common stock on the date of approval of the award (the “Initial Grant”). Such award will vest pursuant to the terms of the restricted stock unit award agreement in three equal instalments on the first, second and third anniversary dates from the Effective Date, and subject to such additional terms and conditions as are determined by the Compensation Committee of the Board and set forth in a restricted stock unit award agreement to be entered into by and between the Company and Executive.
