Long-Term Incentive Compensation Awards. i. The Board has approved a grant to Executive of restricted units in respect of 5,755,056 Common Units pursuant to the Company’s 2021 Equity Inducement Award Program, such grant to be made and effective on the Effective Date (the “Inducement Award”). Subject to Executive’s continued employment (unless otherwise provided for therein), the Inducement Award shall vest and become nonforfeitable if and to the extent the performance goals specified therein are attained. All other terms and conditions of the Inducement Award shall be governed by the Award Agreement that evidences the Inducement Award and the “Inducement Plan” (that is incorporated by reference in such Award Agreement) unless otherwise provided for thereunder. ii. Executive shall be eligible to receive awards under the Xxxxxxx Production Partners LP Long-Term Incentive Plan or any successor thereto (the “Plan”) and to participate in any long-term incentive programs available generally to the Company’s executive officers in the future, both as determined in the sole discretion of the Board, or, if applicable, a committee thereof.
Appears in 2 contracts
Samples: Executive Services Agreement (Evolve Transition Infrastructure LP), Executive Services Agreement (Evolve Transition Infrastructure LP)
Long-Term Incentive Compensation Awards.
i. The Board has approved a grant to Executive of restricted units in respect of 5,755,056 2,589,888 Common Units pursuant to the Company’s 2021 Equity Inducement Award Program, such grant to be made and effective on the Effective Date (the “Inducement Award”). Subject to Executive’s continued employment (unless otherwise provided for therein), the Inducement Award shall vest and become nonforfeitable if and to the extent the performance goals specified therein are attained. All other terms and conditions of the Inducement Award shall be governed by the Award Agreement that evidences the Inducement Award and the “Inducement Plan” (that is incorporated by reference in such Award Agreement) unless otherwise provided for thereunder. .
ii. Executive shall be eligible to receive awards under the Xxxxxxx Sxxxxxx Production Partners LP Long-Term Incentive Plan or any successor thereto (the “Plan”) and to participate in any long-term incentive programs available generally to the Company’s executive officers in the future, both as determined in the sole discretion of the Board, or, if applicable, a committee thereof. .
Appears in 1 contract
Samples: Executive Services Agreement (Evolve Transition Infrastructure LP)
Long-Term Incentive Compensation Awards.
i. The Board has approved a grant to Executive of restricted units in respect of 5,755,056 2,589,888 Common Units pursuant to the Company’s 2021 Equity Inducement Award Program, such grant to be made and effective on the Effective Date (the “Inducement Award”). Subject to Executive’s continued employment (unless otherwise provided for therein), the Inducement Award shall vest and become nonforfeitable if and to the extent the performance goals specified therein are attained. All other terms and conditions of the Inducement Award shall be governed by the Award Agreement that evidences the Inducement Award and the “Inducement Plan” (that is incorporated by reference in such Award Agreement) unless otherwise provided for thereunder.
ii. Executive shall be eligible to receive awards under the Xxxxxxx Production Partners LP Long-Term Incentive Plan or any successor thereto (the “Plan”) and to participate in any long-term incentive programs available generally to the Company’s executive officers in the future, both as determined in the sole discretion of the Board, or, if applicable, a committee thereof.
Appears in 1 contract
Samples: Executive Services Agreement (Evolve Transition Infrastructure LP)
