Common use of LTIP Award Clause in Contracts

LTIP Award. During the Term, the Executive shall be eligible to receive annual equity award grants pursuant to the LTIP, as determined by the Board or a committee thereof, which value may vary in the Board’s discretion based on Executive’s or the Company’s achievement of any performance criteria during the applicable performance period for the award. For calendar year 2023 and beyond, the annual LTIP target will be equal to two hundred and twenty percent (220%) of the Annual Base Salary which annual LTIP target shall be subject to review and upward, but not downward without Executive’s written consent, adjustment by the Compensation Committee in its sole discretion each year (the “Annual LTIP Target”). Any awards issued to the Executive under the LTIP are governed by and subject to the terms of the LTIP and the underlying award agreements.

LTIP Award. During the Term, the Executive shall be eligible to receive annual equity award grants pursuant to the LTIP, as determined by the Board or a committee thereof, which value may vary in the Board’s discretion based on Executive’s or the Company’s achievement of any performance criteria during the applicable performance period for the award. For calendar year 2023 and beyond, the annual LTIP target will be equal to two one hundred and twenty percent (220100%) of the Annual Base Salary which annual LTIP target shall be subject to review and upward, but not downward without Executive’s written consent, adjustment by the Compensation Committee in its sole discretion each year (the “Annual LTIP Target”). Any awards issued to the Executive under the LTIP are governed by and subject to the terms of the LTIP and the underlying award agreements.

LTIP Award. During the Term, the Executive shall be eligible to receive annual equity award grants pursuant to the LTIP, as determined by the Board or a committee thereof, which value may vary in the Board’s discretion based on Executive’s or the Company’s achievement of any performance criteria during the applicable performance period for the award. For calendar year 2023 and beyond, the annual LTIP target will be equal to two four hundred and twenty percent (220400%) of the Annual Base Salary which annual LTIP target shall be subject to review and upward, but not downward without Executive’s written consent, adjustment by the Compensation Committee in its sole discretion each year (the “Annual LTIP Target”). Any awards issued to the Executive under the LTIP are governed by and subject to the terms of the LTIP and the underlying award agreements.