Common use of IPO Equity Grant Clause in Contracts

IPO Equity Grant. Upon the occurrence of an IPO, the Parent shall award the Executive Parent restricted stock units with a value equal to $375,000 (the "IPO Grant"). The number of Parent restricted stock units equating to the dollar value of the IPO Grant shall be determined based on the average closing price of the Common Shares for the twenty (20) trading days immediately following the inception of public trading of the Common Shares. The IPO Grant shall become vested in three equal annual installments on the first, second and third anniversaries of the date such award is granted. The terms and conditions of such IPO Grant shall be set forth in a Restricted Stock Unit Agreement entered into between the Parent and the Executive and shall be subject to the terms and provisions of the Stock Incentive Plan.

IPO Equity Grant. Upon the occurrence of an IPO, the Parent Company shall award the Executive Parent Company restricted stock units with a value equal to $375,000 900,000 (the "IPO Grant"). The number of Parent Company restricted stock units equating to the dollar value of the IPO Grant shall be determined based on the average closing price of the Common Shares for the twenty (20) trading days immediately following the inception of public trading of the Common Shares. The IPO Grant shall become vested in three equal annual installments on the first, second and third anniversaries of the date such award is granted. The terms and conditions of such IPO Grant shall be set forth in a Restricted Stock Unit Agreement entered into between the Parent Company and the Executive and shall be subject to the terms and provisions of the Stock Incentive Plan.

IPO Equity Grant. Upon the occurrence of an IPO, the Parent Company shall award the Executive Parent Company restricted stock units with a value equal to $375,000 525,000 (the "IPO Grant"). The number of Parent Company restricted stock units equating to the dollar value of the IPO Grant shall be determined based on the average closing price of the Common Shares for the twenty (20) trading days immediately following the inception of public trading of the Common Shares. The IPO Grant shall become vested in three equal annual installments on the first, second and third anniversaries of the date such award is granted. The terms and conditions of such IPO Grant shall be set forth in a Restricted Stock Unit Agreement entered into between the Parent Company and the Executive and shall be subject to the terms and provisions of the Stock Incentive Plan.

IPO Equity Grant. Upon the occurrence of an IPO, the Parent Company shall award the Executive Parent Company restricted stock units with a value equal to $375,000 450,000 (the "IPO Grant"). The number of Parent Company restricted stock units equating to the dollar value of the IPO Grant shall be determined based on the average closing price of the Common Shares for the twenty (20) trading days immediately following the inception of public trading of the Common Shares. The IPO Grant shall become vested in three equal annual installments on the first, second and third anniversaries of the date such award is granted. The terms and conditions of such IPO Grant shall be set forth in a Restricted Stock Unit Agreement entered into between the Parent Company and the Executive and shall be subject to the terms and provisions of the Stock Incentive Plan.

IPO Equity Grant. Upon the occurrence of an IPO, the Parent Company shall award the Executive Parent Company restricted stock units with a value equal to $375,000 1,500,000 (the "IPO Grant"). The number of Parent Company restricted stock units equating to the dollar value of the IPO Grant shall be determined based on the average closing price of the Common Shares for the twenty (20) trading days immediately following the inception of public trading of the Common Shares. The IPO Grant shall become vested in three equal annual installments on the first, second and third anniversaries of the date such award is granted. The terms and conditions of such IPO Grant shall be set forth in a Restricted Stock Unit Agreement entered into between the Parent Company and the Executive and shall be subject to the terms and provisions of the Stock Incentive Plan.