Initial RSU Award. At the first Compensation Committee meeting following the Start Date, the Company will recommend that Executive be granted an award of restricted stock units having an aggregate grant date fair value of approximately $1,200,000 (the “Initial RSUs”). The Company will recommend that the Initial RSUs have a vesting commencement date of the fifteenth (15th) day of the third (3rd) month after the Start Date and will vest in approximately equal quarterly amounts over sixteen (16) quarters, subject to Executive’s continued service with the Company through each vesting date, with the first vesting date occurring on the three (3)-month anniversary of the vesting commencement date. All Initial RSUs will be subject to the terms and conditions of the Company’s 2014 Equity Incentive Plan and restricted stock unit agreement provided by the Company, which will control the Initial RSU grant, and both of which documents are incorporated herein by reference.
Initial RSU Award. An Equity grant will be recommended to the Board in the form of a restricted stock unit award (the “RSUs”) under the Amended and Restated 2011 Stock Plan (the “Plan”). Executive’s initial grant of RSUs (the “RSU Award”) will be based on a total current value of one-million five hundred thousand dollars ($1,500,000) (the “Cash Value”). The number of shares subject to Executive’s RSU Award will be calculated by dividing the Cash Value by the appropriate Life360 closing stock price at the time of Board approval of the RSU Award to determine the number of shares subject to Executive’s RSU Award. Each RSU entitles executive to 1 share of the Company’s common stock once the vested portion of the RSU Award is settled. The RSU award will vest pursuant to a 48-month vesting schedule, which will provide that 1/4 of the share subjects to the RSU Award will vest after 12 months of full-time employment, and 1/48th of the shares subject to the RSU Award will vest as and when Executive completes each month of full-time employment thereafter. The vested RSUs will settle as soon as practical following the vesting date and will be done at least quarterly.
Initial RSU Award. As a material inducement to Executive accepting employment with the Company, at the first Compensation Committee meeting following the Start Date, the Company will recommend that Executive be granted an award of restricted stock units covering 105,263 shares of the Company’s common stock (the “Initial RSUs”). The Company will recommend that the Initial RSUs have a vesting commencement date of the fifteenth (15th) day of the third (3rd) month after the Start Date and will vest in approximately equal quarterly amounts over sixteen (16) quarters, subject to Executive’s continued service with the Company through each vesting date, with the first vesting date occurring on the three (3)-month anniversary of the vesting commencement date. All Initial RSUs will be subject to the terms and conditions of the Company’s 2014 Equity Incentive Plan or such other equity incentive plan then-maintained by the Company and a restricted stock unit agreement provided by the Company, which will control the Initial RSUs, and both of which documents are incorporated herein by reference.
Initial RSU Award. On or promptly following the date of this Agreement, the Company will grant to Executive a restricted stock unit award covering 4,500,000 shares of its common stock (the “Initial RSU Award”). The terms and conditions of the Initial RSU Award will be set forth in a separate award agreement between Executive and the Company (the “Initial RSU Award Agreement”). The Initial RSU Award will be governed exclusively by the terms of the Initial RSU Award Agreement and the Nogin, Inc. 2022 Incentive Award Plan (the “Equity Plan”), provided, however, that notwithstanding any provision of the Initial RSU Award Agreement or Equity Plan to the contrary, the Initial RSU Award will be subject to the following terms: (i) the Initial RSU Award will vest in full on the last day of the Initial Term, provided the Executive remains employed with the Company through such date, (ii) in the event Executive’s employment is terminated by the Company without Cause or Executive resigns his employment for Good Reason, in either case during the Initial Term, and, in either case, Executive signs and does not revoke a Release (as defined below) in the manner described in Section 12(l)(vi), the Initial RSU Award will vest in full as of the Date of Termination, and (iii) in the event that the Company terminates Executive’s employment for Cause (other than due to a Performance Failure (as defined below)) or the Executive’s employment is terminated due to Executive’s death or Disability, in any case during the Initial Term, the Initial RSU Award will vest as to a number of shares equal to the number of shares subject to the Initial RSU Award multiplied by a fraction, the numerator of which is the number of whole months that have elapsed from the Effective Date through the Date of Termination and the denominator of which is 36.
Initial RSU Award. The Committee has approved a grant to the Executive, effective as of the Effective Date, of an award of restricted stock units (the “Initial RSU Award”) with respect to 160,000 shares of common stock, par value $0.01 per share (“Stock”), under the terms of the Company’s 2005 Stock Compensation Plan (including any amended or successor stock plan, the “Stock Plan”). One-third (1/3) of the shares subject to the Initial RSU Award shall vest and become payable on each of first three anniversaries of the Effective Date provided the Executive is employed by the Company on each such vesting date.
Initial RSU Award. On or effective as of the Start Date, the Executive will be granted 32,051 restricted stock units ("RSUs") which will vest ratably over three years from the Start Date. The RSUs will be issued pursuant to the Company's Amended and Restated 2014 Stock Incentive Plan (as may be amended from time to time, the "Stock Incentive Plan") and the RSU award agreement, in substantially the form attached as Exhibit A hereto (the "RSU Award Agreement").
