Common use of MIP Grants Clause in Contracts

MIP Grants. Executive shall be eligible to participate in the Company’s management incentive plan (the “MIP”) in accordance with the terms thereof and as determined by the Board or the Compensation Committee. Executive shall receive an initial equity grant under the MIP with a grant date value equal to $ 1,240,050, and all other terms relating to such equity grant shall be governed by the applicable Restricted Stock Unit Award Agreement. Subsequent to the initial equity grant, Executive may be eligible for additional compensatory equity grants at the sole discretion of the Board or the Compensation Committee.

MIP Grants. Executive shall be eligible to participate in the Company’s management incentive plan (the “MIP”) in accordance with the terms thereof and as determined by the Board or the Compensation Committee. Board; provided, however, that in 2018 Executive shall will receive an initial equity grant under the MIP with a grant date value equal to $ 1,240,050, and all other terms relating to such equity grant shall be governed by the applicable Restricted Stock Unit Award Agreement. Subsequent to the initial equity grant, Executive may be eligible for additional compensatory equity grants at the sole discretion of the Board or the Compensation Committee$3,000,000 (determined using a share price of $19.50).

MIP Grants. Executive shall be eligible to participate in the Company’s management incentive plan (the “MIP”) in accordance with the terms thereof and as determined by the Board or Board; provided that, for calendar year 2018, the Compensation Committee. Company intends to award Executive shall receive an initial equity grant under the MIP with a grant date value equal to $ 1,240,050, and all other terms relating to such equity grant shall be governed by the applicable Restricted Stock Unit Award Agreement. Subsequent to the initial equity grant, Executive may be eligible for additional compensatory equity grants at the sole discretion of the Board or the Compensation Committee$1,250,000 (determined using a share price of $19.50).