Initial Stock Award. As of the Closing, Employee shall be granted an initial aggregate stock award of a certain number of shares of the Company’s common stock pursuant to the Company’s 2011 Equity Incentive Plan (the “2011 Plan”), consisting of 104,167 restricted stock units and stock options for 312,500 shares of the Company’s common stock (collectively, the “Initial Stock Award”). The Initial Stock Award shall vest as follows: (1) 25% of such award shall vest immediately at Closing; (2) 75% of such award shall vest in equal one-third increments on each of the first three anniversaries of the Closing (25% per year).
Initial Stock Award. As soon as practicable after April 1, 1997, Company shall issue Executive 2,500 shares of Company stock as an initial bonus; provided, however, Executive may cause Company to withhold some shares of the Company stock to satisfy Executive's and Company's tax-withholding obligations.
Initial Stock Award. As soon as practicable following the Effective Date, Employee shall be granted a restricted stock award (the “Initial Stock Award”) of common shares issued by Apollo Medical Holdings, Inc. in the amount of 85,130 shares, which is to be time vested in annual increments of 33.3% of the shares per year on each anniversary of the Start Date over three (3) full years of Employee’s active and continuous full-time employment (28,376 shares after 1 year, 28,376 shares after 2 years, and 28,376 after 3 years of service). This Initial Stock Award is offered as an inducement for Employee to accept employment with Employer on the terms of this Agreement and is subject to approval by the Compensation Committee of Employer’s Board of Directors. The definition of Fair Market Value, and other applicable terms and provisions are set forth in the APOLLO MEDICAL HOLDINGS, INC. EMPLOYMENT INDUCEMENT AWARD PLAN (“Inducement Plan”). The terms and provisions of the Inducement Plan are hereby incorporated into this Agreement and are made applicable to the Initial Stock Award. Additionally, should both Dr. Xxxxxxx Xxx, Executive Chairman, and Xxxxxxx Xxx, CEO, no longer be employed by the Company (and / or its successor) or sit on the Company’s Board, all unvested shares of the Initial Stock Award will immediately vest.
Initial Stock Award. The Company will award to Xx. Xxxxxx on the Effective Date 138,890 fully-vested shares of Common Stock.
Initial Stock Award. Upon commencement of the Term, Executive shall be granted, under Employer’s 2005 Equity Incentive Plan (the “2005 Plan”) a restricted stock unit award (the “Initial Stock Award”) having a fair market value of $2,500,000 on the later of the Start Date or the date Employer’s Board of Directors or Compensation Committee approves the Initial Stock Award. The Initial Stock Award shall be governed by the terms and provisions of the 2005 Plan and shall be subject to similar restrictions as are contained in the stock awards granted to other executives of Employer and as are set forth in Executive’s Initial Stock Award agreement. The restricted stock units (“RSUs”) subject to the Initial Stock Award will vest in accordance with the following schedule; provided that the vesting will cease upon the termination of Executive’s continuous service (as defined in the 2005 Plan) with Employer; and, provided, further, that such vesting will be subject to acceleration as provided in Section 4.6 hereof: twenty percent (20%) of the total number of RSUs subject to the Initial Stock Award shall vest on each annual anniversary of the date of grant of the Initial Stock Award, with all of the RSUs subject to the Initial Stock Award becoming fully vested on the fifth annual anniversary of the date of grant of the Initial Stock Award.
Initial Stock Award. Effective on the execution of this Agreement, the Company shall grant to the Executive, a stock grant or long term incentive partnership units (“LTIPs”) award with a binomial value of ONE HUNDRED TWENTY THOUSAND DOLLARS ($120,000). This award shall be subject to all terms and conditions set forth in the Company’s 2003 Stock Incentive Plan with one-third of such award vesting on July 1, 2008, and each anniversary of such date in the following two calendar years (subject to the Executive remaining employed with the Company and subject to forfeiture and earlier vesting as provided in this Agreement) with the understanding that the Compensation Committee may, without obligation, review possible acceleration of unvested units or grants upon the retirement of the Executive.
Initial Stock Award. On the Effective Date, Executive shall be granted an equity award representing shares of Preferred Stock of Broadcast Media Partners Holdings, Inc., and Class L Common Stock of the Company (which shall be in the form of restricted stock units) and Class A Common Stock of the Company (which shall be in the form of restricted shares) (collectively, the “Company Securities”) having an aggregate fair market value of $5 million on such date (the “Initial Stock Award”), in the same proportion as the classes of such stock are being purchased by the Sponsors. The terms and form of the Initial Stock Award shall be set forth in an award agreement, which shall be in substantially the same form as Exhibit A attached hereto.
Initial Stock Award. As of the Closing, Employee shall be granted an initial aggregate stock award of _________ number of shares of the Company’s common stock pursuant to the Company’s 2011 Equity Incentive Plan (the “2011 Plan”), 25% (__________) of which shall be granted in the form of restricted stock units and 75% (__________) of which shall be granted in the form of stock options (collectively, the “Initial Stock Award”). The Initial Stock Award shall vest as follows: (1) 25% of such award shall vest immediately at Closing; (2) 75% of such award shall vest in equal one-third increments on each of the first three anniversaries of the Closing (25% per year).
Initial Stock Award. On the Effective Date, the Executive shall be granted an award (the "Initial Award") consisting of: (x) an option to purchase shares of common stock of the Company, the number of which shall be determined by dividing $605,000 by the Black-Scholes value of a Company stock option on the date of the grant and the exercise price of which shall be the average price of the stock on the Effective Date; (y) shares of service-based restricted stock, the number of which shall be determined by dividing $2,166,000 by the average price of the Company's common stock on the Effective Date; and (z) shares of performance-based restricted stock, the number of which shall be determined by dividing $309,000 by the average price of the Company's common stock on the Effective Date. The Initial Award shall be subject to the terms and conditions of a Long-Term Incentive Award Agreement, which shall provide, among other things, that the restrictions on one half of the service-based restricted shares will expire on October 1, 2007 and that the restrictions on the remaining one half of the service-based restricted shares will expire on October 1, 2008 based on continued employment.
Initial Stock Award. Subject to approval by the Board, on the Effective Date the Company will grant to Consultant 250,000 shares of the Company’s common stock (the “Initial Stock Award”). The Initial Stock Award shall be subject to vesting at the rate of one sixth (1/6) of the shares per month commencing on the Effective Date, subject to Consultant continuing to be a service provider to the Company pursuant to this Agreement on such dates. The vesting schedule of the Initial Stock Award shall be subject to acceleration as described in Sections 1(c)(iv) and 8(e)(i)(B) of this Agreement.
