Long-Term Equity Award. (i) On or promptly following the Effective Date, the Company will issue Executive a restricted stock award (the “Long-Term Award”) under the LTIP representing the number of shares of Company common stock determined by dividing $470,000 by the closing price of the Company common stock on the grant date as reported on the New York Stock Exchange (rounded down to the nearest whole share). The Long-Term Award shall be subject to performance conditions and become earned (between 0% and 200% of the initial number of shares) and vested based on the Company's total shareholder return over the three-year period ending December 31, 2014, under the same terms and conditions as the performance share awards granted to the Company's other executive officers in January 2012 for such three-year period; provided that to the extent the performance goals for such three-year period are met, (x) Executive's Long-Term Award will not be forfeited if his employment ends on December 31, 2014 and (y) if Executive is terminated without Cause (as defined in Section 2.07(c) below) after September 30, 2014 and signs the Release (as defined in Section 2.07(a) below), he will remain eligible to receive the earned portion of the Long-Term Award, which will become vested no later than March 15, 2015. If Executive's employment terminates during the Term due to his death or Disability (as defined in the LTIP), he or his estate will receive a prorated portion of his Long-Term Award at the 100% target level, which will be paid within 30 days following the end of the fiscal year in which such termination occurs.
(ii) Executive understands and acknowledges that the Company does not intend to grant annual long-term equity awards to Executive during 2013 and 2014.
Long-Term Equity Award. During your employment with the Company, you will be eligible to participate in the Company’s Omnibus Equity Incentive Plan, as amended from time to time (the “Omnibus Plan”), and receive equity awards thereunder in the form and at the time(s) as may be determined by the Committee and the Board, and subject to vesting and other conditions as set forth in the Omnibus Plan and the applicable award agreements. The Company will grant you an initial equity award under the Omnibus Plan (the “Equity Award”). The Equity Award will be granted on or about your Start Date and is intended to cover any Long Term Equity Award for 2021. The Equity Award will, subject to approval of the Board, be comprised of (i) 15,901 restricted share units (“New RSUs”) that will be settled in accordance with the terms of the Equity Award for class E subordinate voting shares of the Company (the “Fixed Shares”), (ii) 50,962 restricted share units (“Floating RSUs”) that will be settled in accordance with the terms of the Equity Award for class D subordinate voting shares of the Company (the “Floating Shares”), (iii) 23,665 options (“Fixed Options”) to acquire Fixed Shares, and (iv) 107,456 options (“Floating Options”) to acquire Floating Shares. Each of the New RSUs, Floating RSUs, Fixed Options and Floating Options issued pursuant to the Equity Award will vest in one-third increments on the first, second and third anniversary of the date that the Board approves the grant. The Fixed Options and the Floating Options shall have the lowest possible exercise price determined by the policies of the Canadian Securities Exchange (“CSE”) based on the date the Board approves the grant, provided; however, in no circumstance will the exercise price be less than the “market price” as determined on the date that the Equity Award is granted for purposes of the policies of the CSE. The Equity Award will be granted under and subject to the terms of the Omnibus Plan and evidenced in writing by, and subject to the terms of the applicable award agreements in all respects.
Long-Term Equity Award. You will be eligible to participate in the Company’s Long-Term Incentive (LTI) program under the Omnibus Plan. The target level for your Long-Term Equity Award will be at least $200,000 and the form of the award to be granted to you will be determined by the Company in accordance with the terms of the Omnibus Plan. The specific terms, conditions and restrictions on any Long-Term Equity Award will be contained in the Administrative Guide and award notice delivered to you within twenty (20) business days of the grant date.
Long-Term Equity Award. The Executive shall be eligible to receive an annual award of JetBlue long term equity (currently in the form of three year performance stock units) pursuant to an award agreement and subject to the terms and conditions of the Plan. The Executive shall be eligible to receive future long term equity awards as may be determined by the Committee in the exercise of its business judgment, subject to the approval of the Board. From time to time, the Committee may determine to modify (including terminating the use of) the equity vehicles used to compensate its senior executives, including the Executive, and the Executive’s compensation shall then reflect the equity vehicles then approved by the Committee and adopted by the Company.
