Initial Restricted Stock Unit Grant. Effective as of the Effective Date, the Company shall grant Executive restricted stock units under the Company’s equity incentive plans (the “Initial RSUs”). The number of Initial RSUs shall equal $210,000, divided by the Fair Market Value (as defined in the applicable equity incentive plan) of a share of Company common stock as of the Effective Date (rounded down to the nearest whole share). Such initial grant of restricted stock units shall vest ratably over a four-year period, 25% on each anniversary of the date of grant, provided Executive is employed on such dates by the Company. All such restricted stock units shall be subject to the terms and conditions of the applicable plan and applicable award agreement attached as Exhibit B hereto.
Initial Restricted Stock Unit Grant. On the Grant Date, Executive shall receive restricted stock units under the Plan (the “Initial RSUs”). The number of Initial RSUs shall be equal to $312,500, divided by the Fair Market Value of an Endo ordinary share as of the Grant Date (rounded down to the nearest whole share). The Initial RSUs shall vest ratably over a four-year period, 25% on each anniversary of the Grant Date, provided Executive is employed on such dates by the Company or one of its affiliates. All Initial RSUs shall be subject to the terms and conditions of the Plan and applicable award agreement.
Initial Restricted Stock Unit Grant. On the first trading day following the Employment Commencement Date (the “Grant Date”), Executive shall receive restricted stock units under Endo’s Amended and Restated 2010 Stock Incentive Plan (the “Plan”) (such restricted stock units hereinafter being referred to as the “Initial RSUs”). The number of Initial RSUs shall be equal to $500,000, divided by the Fair Market Value (as defined in the Plan) of an Endo ordinary share as of the Grant Date (rounded down to the nearest whole share). The Initial RSUs shall vest ratably over a three-year period, at a rate of 33 1/3 percent of the total Initial RSUs on each of the three anniversaries of the Grant Date, provided Executive is employed on such dates by the Company or one of its affiliates. All Initial RSUs shall be subject to the terms and conditions of the Plan and applicable award agreement (which award agreement will be drafted in a manner that complies with the provisions of this Agreement).
Initial Restricted Stock Unit Grant. In addition to any equity awards described in Section 2(d)(i), as of July 29, 2010, Xxxx shall xxxxx Employee 50,000 restricted stock units of Xxxx (the “Initial Units”) pursuant to the applicable stock incentive compensation plan, which shall provide for customary adjustment provisions in the event of a stock split, reverse stock split, merger or other change in the capitalization of Xxxx. The Initial Units shall vest in equal installments on June 30, 2011, June 30, 2012 and June 30, 2013 (subject to earlier acceleration as otherwise provided in this Agreement).
Initial Restricted Stock Unit Grant. It will be recommended at the Meeting that you be granted restricted stock units (the “Initial RSU”) for 75,000 shares of the Company’s common stock (the “Initial RSU Shares”). It will be recommended that the Initial RSU Shares shall vest as follows: one quarter (1/4) of the Initial RSU Shares shall vest on the first anniversary of the date that Executive begins performing services as Executive V.P. and Chief Medical Officer, and one quarter (1/4) of the Initial RSU Shares shall vest each yearly anniversary thereafter until all such Initial RSU Shares have vested, based on Executive’s continued status as a service provider to the Company on each such date.
Initial Restricted Stock Unit Grant. On the first trading day following the Employment Commencement Date, the Company shall grant Executive restricted stock units under the Company’s equity incentive plans (the “Initial RSUs”). The number of Initial RSUs shall equal to $1,200,000, divided by the Fair Market Value (as defined in the applicable equity incentive plan) of a share of the Company’s common stock as of the grant date (rounded down to the nearest whole share). Such initial grant of restricted stock units shall vest ratably over a three-year period, at a rate of one-third of the total Initial RSUs on each anniversary of the grant date, provided Executive is employed on such dates by the Company, or upon an earlier termination of Executive’s employment due to death, Disability, termination by the Company without Cause or by Executive for Good Reason. All such restricted stock units shall be subject to the terms and conditions of the applicable plan and applicable award agreement.
Initial Restricted Stock Unit Grant. The Company will make you an initial grant of 183,750 restricted stock units (“RSU”) on or before December 31, 2006; provided that the Effective Date is on or before December 31, 2006. This grant shall be reflected in a separate Restricted Stock Units Agreement and will vest in whole on the fourth anniversary of the grant date. In addition, if any of (i) your term of employment is terminated by Time Warner without cause pursuant to Section 4.2 of this Agreement or as a result of your disability pursuant to Section 5 or your death pursuant to Section 6, (ii) Time Warner no longer holds at least 50% of the voting interests in AOL, or (iii) the financial results of AOL are no longer consolidated with those of Time Warner, the RSUs will immediately vest on, as applicable, (i) the effective date of your termination by Time Warner without cause pursuant to Section 4.2, or as a result of your disability pursuant to Section 5 or your death pursuant to Section 6, (ii) such date as Time Warner’s holds less than 50% of the voting interests of AOL or (iii) Time Warner determines that the financial results of AOL no longer can be consolidated with those of Time Warner. To the extent that the events in the previous sentence constitute either (i) a “separation from service” under Section 409A(a)(2)(A)(i) of the Code or (ii) a change in ownership or effective control of the Company, or in the ownership of a substantial portion of the assets, as described under Section 409A(a)(2)(A)(v) of the Code and the regulations thereunder, the net shares of Time Warner stock underlying the RSUs shall be delivered to you as soon as administratively possible after the vesting of the RSUs provided, however, that if the Company reasonably determines that such delivery is subject to Section 409A(a)(2)(B)(i) of the Code then the Company shall not be make such delivery until six months after the date of your “separation from service” (within the meaning of Section 409A of the Code).
Initial Restricted Stock Unit Grant. The Executive was awarded on ----------------------------------- the Effective Date an initial grant of 685,468 shares of deferable restricted stock units ("Initial Restricted Stock Unit Grant") to vest 25% on June 30, 2000, 25% on January 31, 2001, 25% on January 31, 2002, and 25% on June 30, 2008. The shares issuable as a result of the vesting of such restricted stock units shall be delivered by Mattel to the Executive by the earlier of: (A) April 1 of the year that next follows the end of the calendar year during which the Executive ceases to be employed by Mattel; or (B) thirteen (13) months following the earliest date when the entire payment would be tax deductible under all pertinent federal tax laws, including Section 162(m) of the Internal Revenue Code, without affecting the deductibility of $1 million of the Executive's Base Salary in any year, as determined by the reasonable belief of the Board's Compensation Committee.
Initial Restricted Stock Unit Grant. Within twenty-five (25) days following the Effective Date or, if later, as soon as is practicable following the consummation of the Merger transactions, the Company shall grant Executive cash-settled restricted stock units representing 9% of the Company’s outstanding shares of common stock as of consummation of the merger and related transactions, it being agreed that such grant shall represent 66,340,597 shares (the “Initial Grant”). The Initial Grant shall be on terms more fully in Exhibit A hereto, with twenty percent of the Initial Grant to vest each year for five years on the first through fifth anniversaries of the Effective Date or such earlier date as is otherwise provided for under this Agreement. The Compensation Committee of the Board of Directors shall have full discretion to substitute fair market value (at grant) options for the restricted stock units and such substitution shall not diminish the Executive’s economic benefit under this Agreement.
Initial Restricted Stock Unit Grant. Within twenty-five (25) days following the Effective Date or, if later, as soon as is practicable following the consummation of the Merger transactions, the Company shall grant Executive cash-settled restricted stock units representing 9% of the Company’s outstanding shares of common stock as of consummation of the merger and related transactions, it being agreed that such grant shall represent 66,340,597 shares (the “Initial Grant”). The Initial Grant shall become vested at the rate of twenty percent (20%) upon each of the first through fifth anniversaries of the Effective Date or such earlier date as is otherwise provided for under this Agreement. The Compensation Committee of the Board of Directors shall have full discretion to substitute fair market value (at grant) options for the restricted stock units and such substitution shall not diminish the Executive’s economic benefit under this Agreement. Treatment upon termination of employment Death or Disability Immediate vesting for entire Initial Grant. Voluntary quit Unvested portion of Initial Grant forfeited and cancelled. Termination for Cause Unvested portion of Initial Grant forfeited and cancelled. Termination without Cause/Quit for Good Reason Immediate vesting for the entire Initial Grant. The terms of any award under this section shall be more fully set forth in an award agreement. It is expressly acknowledged and agreed that this Exhibit A is a summary of the contemplated terms of the award agreements which will preserve the elements described herein, but be subject to the reasonably required terms of the award agreements allowing for the orderly and lawful administration of such awards. Exhibit B Board Resolution
