LONG-TERM AWARDS. All of Executive’s stock options, stock appreciation rights, restricted stock units, performance share units and any other long-term incentive awards granted under any long-term incentive plan of the Company, whether granted before or after the Effective Date (collectively “Long-Term Awards”), shall remain in effect in accordance with their terms and conditions, including with respect to the consequences of the termination of Executive’s employment or a change in control, and shall not be in any way amended, modified or affected by this Agreement.
LONG-TERM AWARDS. Employee shall be entitled to participate in the Executive Incentive Plan (or any successor plan maintained by the Company) for purposes of receiving Long Term Awards pursuant to the terms of this Agreement and the Executive Incentive Plan (or such successor plan).
LONG-TERM AWARDS. On April 26, 2001, the Board of Directors adopted the Republic Services, Inc. Long Term Incentive Plan, effective January 1, 2001 to provide for long term incentive cash grants for specific employees of the Company, including Employee. Effective January 1, 2003, the Long Term Incentive Plan was amended, restated and renamed to the Executive Incentive Plan (as previously defined in Section 2, clause (b), the “Plan”) to provide not only for long term incentive cash grants but also to include the Annual Awards referred to above. Employee has participated in the Long Term Incentive Plan and the Plan since inception, and Employee shall be entitled to continue to participate in the Plan for purposes of receiving Long Term Awards pursuant to the terms of this Agreement and the Plan.
LONG-TERM AWARDS. (A) Commencing on the next annual grant of long-term awards to senior executives of the Company following the Effective Date, the Executive shall participate in all long-term cash and equity incentive plans, practices, policies, and programs applicable generally to other senior executives of the Company. In connection with this Agreement, the Executive shall be granted an award of Five Hundred Thousand (500,000) stock options (the “Retention Options”) under the Company’s 2008 Omnibus Incentive Plan (or another shareholder approved plan to purchase Company common stock) (the “LTIP”). The Retention Options shall have a term of ten years and have terms and conditions not inconsistent with those set forth in this Agreement. The exercise price per share of the Retention Options will be the closing price per share of the Company common stock on the date of grant. The Retention Options will vest at a rate of one-third of the total Retention Options on each of the first three anniversaries of the date of grant, subject to continued employment through the applicable vesting date.
LONG-TERM AWARDS. All of Executive’s stock appreciation rights, restricted stock units, performance share units and any other long-term incentive awards granted under any long-term incentive plan of the Company (collectively, “Long-Term Awards”), shall remain in effect in accordance with their terms and conditions, including with respect to the consequences of the termination of Executive’s employment or a Change in Control, and shall not be in any way amended, modified or affected by this Agreement except as provided in Section 10(c)(vi) and except as hereinafter provided. Upon termination of Executive’s employment by the Company for Cause, all unvested Long-Term Awards will be immediately forfeited as well as any vested unexercised awards. Upon a voluntary resignation by Executive for any reason at any time other than during a Protection Period or by Executive without Good Reason during a Protection Period, all vested Long-Term Awards will remain exercisable for ninety (90) days following the effective date of such termination of employment. Upon any termination by the Company for Cause, by the Executive for any reason at any time other than during a Protection Period or by Executive without Good Reason during a Protection Period, all unvested Long-Term Awards will be immediately forfeited. The provisions of this Section 11 shall not apply to Executive’s Inducement Awards.
LONG-TERM AWARDS. On April 26, 2001, the Board of Directors adopted the Republic Services, Inc. Long Term Incentive Plan, effective January 1, 2001 to provide for long term incentive cash grants for specific employees of the Company, including Employee. Effective January 1, 2003, the Long Term Incentive Plan was amended, restated and renamed the Executive Incentive Plan to provide not only for long term incentive cash grants but also to include the Annual Awards referred to above. Employee has participated in the Long Term Incentive Plan and the Executive Incentive Plan since inception, and Employee shall be entitled to continue to participate in the Executive Incentive Plan (or any successor plan maintained by the Company) for purposes of receiving Long Term Awards pursuant to the terms of this Agreement and the Executive Incentive Plan (or such successor plan).
LONG-TERM AWARDS. In addition to the long-term awards described in this Agreement, the Executive shall be eligible to participate in other long-term cash and equity incentive plans, practices, policies, and programs applicable generally to other senior executives of the Company. The amount and terms of the Executive’s other long-term awards, if any, shall be determined by the Committee in its sole and absolute discretion; provided, that the Executive shall be treated no less favorably than other senior executives of the Company (including, for the avoidance of doubt, the Executive Chairman of the Board) with respect to the grant and terms of such long-term awards.
LONG-TERM AWARDS. On April 13, 2020 (the “Initial Effective Date”), the Employer granted to the Executive unvested restricted stock units ("RSUs") of its common stock with a value based on the most recent NAV equal to $6 million (the “Initial Equity Grant”), pursuant to such terms as are set forth in an equity grant agreement attached hereto as Exhibit A. The Initial Equity Grant is eligible to vest 25% per year on each anniversary of the date of grant. On each anniversary of the date of grant, 75% of the 25% shall vest with regard to time only (“Time-Vesting RSUs”), and 25% of the 25% shall vest with regard to time only unless the Board determines in its sole discretion based on the Employer’s and/or Executive’s performance that such portion (or a portion thereof) of the award should not vest (and such portion which does not vest shall be forfeited for no consideration) (“Discretionary RSUs”). The Executive shall be paid dividend equivalents with respect to unvested Time-Vesting RSUs and unvested Discretionary RSUs upon vesting in connection with any dividends paid with respect to shares of the Employer’s common stock during the vesting period. The Executive became eligible for and received other equity awards after the date of grant of the Initial Equity Grant.
LONG-TERM AWARDS. (A) Commencing on the next annual grant of long-term awards to senior executives of the Company following the Effective Date, the Executive shall participate in all long-term cash and equity incentive plans, practices, policies, and programs applicable generally to other senior executives of the Company. The value of Executive’s annual long-term awards shall be consistent with competitive market levels as determined by the Committee in good faith on an annual basis.
(B) On the Restatement Effective Date, the Executive shall be granted 500,000 stock options (the “Re-signing Options”) under the Company’s 2008 Omnibus Incentive Plan, as amended (the “LTIP”). The Re-signing Options shall have a term of ten years and shall be subject to the terms and conditions set forth in the Non-Qualified Stock Option Agreement attached hereto as Exhibit B (the “Re-signing Option Award Agreement”). The exercise price per share of the Re-signing Options shall be equal to the “Fair Market Value” (as defined in the LTIP) of a share of Company common stock on the Restatement Effective Date. The Re-signing Options shall vest at a rate of one-third of the total Re-signing Options on each of the first, second and third anniversaries of the Restatement Effective Date, subject to the terms and conditions of the Re-signing Option Award Agreement.
LONG-TERM AWARDS. (A) Commencing on the next annual grant of long-term awards to senior executives of the Company following the Effective Date, the Executive shall participate in all long-term cash and equity incentive plans, practices, policies, and programs applicable generally to other senior executives of the Company. In connection with this Agreement, the Executive shall be granted an award of One Hundred Thousand (100,000) shares of restricted stock (the “Promotion Restricted Stock”) under the Company’s 2008 Omnibus Incentive Plan, as amended (the “LTIP”). The Promotion Restricted Stock shall vest as follows: 33,333 shares on October 1, 2011, 33,333 shares on October 1, 2012 and 33,334 shares on October 1, 2013, subject to continued employment through the applicable vesting date.
