Initial RSU Awards Sample Clauses
Initial RSU Awards. As a material inducement to Executive accepting employment with the Company, as soon as practicable after the Start Date, and in no event later than the first regularly scheduled meeting of the Compensation Committee of the Board following the Start Date, the Company will recommend that Executive be granted two restricted stock unit (“RSU”) awards. The first RSU award will be an award of 166,500 RSUs (the “First RSU Award”) and the second RSU award will be an award of 100,000 RSUs (the “Second RSU Award” and together with the First RSU Award, the “Initial RSU Awards”). The Company will recommend that the Initial RSU Awards have a vesting commencement date on the Start Date. The First RSU Award will vest in approximately equal annual installments over three (3) years from the vesting commencement date and the Second RSU Award will vest as to 100% of the RSUs subject to the Second RSU Award on the first anniversary of the vesting commencement date, in either case, subject to Executive’s continued service with the Company through the applicable vesting date. The Initial RSU Awards will be subject to the terms, definitions and provisions of the Company’s 2020 Equity Incentive Plan (the “2020 Plan”) or an inducement equity incentive plan adopted by the Company (in either event, the “Equity Plan”) and a RSU agreement provided by the Company, which will control the Initial RSU Awards, and all of which documents are incorporated herein by reference.
Initial RSU Awards. Subject to approval of the Compensation Committee, Employee will receive a grant of seventy five hundred (7,500) RSUs with a 5-year vesting schedule in August 2020 and an additional seventy five hundred (7,500) RSUs with 5-year vesting in August 2021 if Employee is in good standing with the Company.
Initial RSU Awards. (i) At the first quarterly meeting of the Board in 2024, subject to Executive’s continued employment with the Company through the grant date, the Company will recommend to the Compensation Committee and the Board that the Executive be granted an award of 50,000 restricted stock units (“RSUs”), pursuant to the terms of the Lulu’s Fashion Lounge Holdings, Inc. Omnibus Equity Plan (the “Equity Plan”) and an individual RSU award agreement (the “Year One RSU Award”). Provided that Executive remains employed with the Company through the applicable vesting date, the Year One RSU Award will vest as to 25% of the total underlying RSUs on the following dates: (1) March 31, 2024; (2) June 30, 2024; September 30, 2024; and (4) December 31, 2024.
(ii) At the first quarterly meeting of the Board in 2025, subject to Executive’s continued employment with the Company through the grant date, the Company will recommend to the Compensation Committee and the Board that the Executive be granted an award of 50,000 RSUs, pursuant to the terms of the Equity Plan and an individual RSU award agreement (the “Year Two RSU Award”). Provided that Executive remains employed with the Company through the applicable vesting date, the Year Two RSU Award will vest as to 25% of the total underlying RSUs on the following dates: (1) March 31, 2025; (2) June 30, 2025; September 30, 2025; and (4) December 31, 2025.