Long-term Equity Awards Sample Clauses

Long-term Equity Awards. Executive will be eligible to participate in and receive periodic equity grants commensurate with his position and level in any equity-based or equity related compensation plan, programs or agreements of Bio-Techne made available generally to its executive officers; provided that the amount, timing, and other terms of any future grant shall be determined by the Bio-Techne Board of Directors, or its designated committees, in its sole discretion.

Long-term Equity Awards. During the Term, the Committee shall grant the Executive (x) a Time-Based Vesting Equity Award (as more particularly described in, and subject to, the provisions of clause (i) below) and (y) a performance-based award of restricted stock units (the “Performance-Based TSR Equity Award”) (as more particularly described in, and subject to, the provisions of clause (ii) below). The long-term equity award payable to the Executive in 2024 shall be governed by the provisions of the 2021 Incentive Agreement. (i) Beginning in 2025, and then annually during the Term, subject to adjustment as provided in Section 3(f), the Executive shall be granted an award of restricted stock (the “Time-Based Vesting Equity Award”) with respect to a number of shares of common stock with a fair market value (measured based on the average closing price of the common stock for the last thirty (30) trading days preceding the grant) of $2,200,000 (rounded down to the nearest whole share). Subject to the provisions of Section 4 of this Agreement, each such Time-Based Vesting Equity Award shall vest in full on the third anniversary of the date of such grant, subject to the Executive’s continued employment with the Company on such anniversary date. (ii) Beginning in 2025 and then annually during the Term, subject to adjustment as provided in Section 3(f), the Executive shall be granted a performance-based award of restricted stock units (the “Performance-Based TSR Equity Award”) with respect to a number of shares of common stock with a fair market value (measured based on the average closing price of the common stock for the last thirty (30) trading days preceding the grant) of $8,800,000 (rounded down to the nearest whole share). Each such Performance-Based TSR Equity Award shall vest, in whole or in part, or shall be forfeited, at the end of the performance period based upon the Company’s achievement of the four year total shareholder return objectives (consisting of dividends paid and changes in the share price of the Company’s common stock, hereinafter (“TSR”)) set forth in Exhibit B hereto, and subject to the Executive’s continued employment with the Company on the completion of the four year performance period, except as provided in Section 4 hereof. The vesting of each award made under this Section 3(e)(iii) shall be determined as set forth in Exhibit B hereto. (iii) During the period beginning on November 1 of each year, and ending on November 30 of such year, the Executive may irrev...

Long-term Equity Awards. Employee will be eligible to participate in and receive periodic equity-based compensation awards commensurate with his or her position and level pursuant to any Bio-Techne equity-based compensation plan or program made available generally to executive officers; provided that the amount, timing, and other terms of any future awards shall be determined by the Board, in its sole discretion.

Long-term Equity Awards. “LTI”): As of the Separation Date, you shall be eligible for vesting in the 2015 and 2016 LTI Awards subject to and in accordance with the terms of those awards.

Long-term Equity Awards. Employer will fulfill its obligations to Executive pursuant to the terms of outstanding equity award agreements held by Executive (the “Equity Agreements”), including Employer’s obligations under the Equity Agreements in the event of a change in control. In accordance with the terms of the Equity Agreement, Employer agrees that certain equity awards contained in Executive’s Equity Agreements will receive continued vesting as of the Departure Date by reason of Executive’s qualifying retirement under the retirement provisions included in such awards; certain other awards will be forfeited as a result of Executive’s retirement. In addition, Employer expressly agrees that Executive’s December 20, 2011 time-vesting restricted stock unit award is being amended by this Agreement to allow continued vesting on the applicable vesting dates, notwithstanding Executive’s retirement, as set forth on Exhibit A. Employer has provided a schedule of Executive’s awards and the impact of retirement.

Long-term Equity Awards. Employee will be eligible to participate in and receive periodic equity-based compensation awards commensurate with his or her position and level pursuant to any Bio-Techne equity-based compensation plan or program made available generally to executive officers; provided that the amount, timing, and other terms of any future awards shall be determined by the Board, in its sole discretion. On an annualized basis, Employee will receive equity grants valued at approximately $1,800,000 (based on a Black Scholes calculation as of the date of grant), with half that value in the form of time-vested stock options, which will have a seven-year term and a four-year vesting schedule, and the remaining half in the form of performance-based equity split equally between performance-based stock options and performance-based restricted stock units. The performance-based equity vests based on third year performance measures (end of fiscal year 2024) established by the Compensation Committee of the Board and specified in more detail in the grant agreements. For fiscal year 2022, the equity grant will be pro-rated. Employee will also receive a one-time grant of restricted stock units valued at approximately $1,000,000, which will have a three-year vesting schedule. All equity grants will be issued at the closing price of Bio-Techne’s stock as traded on the NASDAQ on the first trading day of the month following Employee’s first day of employment.

Long-term Equity Awards. The Employer will fulfill its obligations to Executive pursuant to the terms of the outstanding equity award agreements. The Employer and Executive agree that the specific equity awards for which the Executive is eligible are set forth on Exhibit A. The Employer further agrees that i. The Executive shall be entitled to receive a pro rata portion of all outstanding time-vesting and performance-vesting Restricted Stock Units (RSUs), determined by the Departure Date, with the remaining portion being forfeited, and with such pro rata portion to vest and settle as of the original vesting dates, subject to any performance adjustments and hold requirements specified in such awards, and ii. The Executive shall be entitled to continued vesting of the Executives October 2010 stock option award, and shall be entitled to exercise stock options from the applicable vesting date through the stated award expiration date, subject to hold requirements. The terms of all remaining stock option awards are unaffected by this agreement.

Long-term Equity Awards. Executive will be eligible for grants of equity awards under the Company’s long-term equity incentive plan or plans determined in the same manner as awards to other senior executives of the Company. On the Effective Date of this Agreement: (i) The Company shall award Executive 75,000 options (the “Time Vesting Options”), to acquire 75,000 shares of common stock (each, a “Share”) of the Company, which shall vest as follows: (1) 25,000 Options shall vest on the one-year anniversary of the Effective Date of this Agreement; (2) 25,000 Options shall vest on the two-year anniversary of the Effective Date of this Agreement; and (3) 25,000 Options shall vest on the three-year anniversary of the Effective Date of this Agreement. (ii) The Company shall award Executive 75,000 Options (with the Time Vesting Options, the “Options”) to acquire 50,000 Shares of the Company, which shall vest as follows: (1) 25,000 Options shall vest upon the Company attaining an average market capitalization over a 30 day period of $350 million; (2) 25,000 Options shall vest upon the Company attaining an average market capitalization over a 30 day period of $500 million; (3) 25,000 Options shall vest upon the Company attaining an average market capitalization over a 30 day period of $750 million; (4) all Options which have not already vested prior to the fourth anniversary of this Agreement shall vest in full upon such fourth anniversary of this Agreement; (5) all Options which have not already vested, and other options awarded before or after these Options (“Other Options”) which have not vested, shall, if they have not then expired, vest upon (A) the date on which Executive’s employment is terminated without Cause; (B) the date on which Executive resigns for a Good Reason; (C) the date on which Executive is terminated due to a Disability; or (D) the date of the death of the Executive. Each vested Option may be exercised at a price equal to the closing price of a Share on the Award Date of such Option, and each of the Other Options may be exercised according to the terms set forth in the applicable award agreement. Options and Other Options are exercisable for a ten-year term commencing on their applicable award date, and such ten-year term may not be reduced or shortened without the express written consent of the Executive. (iii) The Company shall award Executive 75,000 restricted shares of common stock of the Company (the “Time Vesting Restricted Shares”), which shall vest as follows: ...

Long-term Equity Awards. The 2016 Long Term Equity Awards for the Eligible Officers consist of the following two components: