One-Time Long Term Incentive Grant Sample Clauses
The One-Time Long Term Incentive Grant clause establishes the terms under which an employee or executive receives a single, non-recurring award of long-term incentives, such as stock options or restricted stock units. This grant is typically provided at the commencement of employment or upon promotion, and its vesting schedule, amount, and performance conditions are clearly defined in the agreement. The core function of this clause is to incentivize long-term commitment and performance by aligning the recipient’s interests with those of the company, while also clarifying the unique, non-repeatable nature of the award.
One-Time Long Term Incentive Grant. As additional consideration for entering into this Agreement, and as a material condition for Employee entering into this Agreement, Employee shall be awarded a one-time Long Term Incentive Grant with a value of no less than $400,000.00 pursuant to the Clear Channel Outdoor Holdings, Inc. (“CCOH”) 2012 Stock Incentive Plan (the “Plan”) and applicable award agreement, subject to approval by the Board of Directors or the Compensation Committee of CCOH, as applicable, such award to be granted as soon as practicable after the Effective Date, but no later than July 25, 2016. Fifty percent (50%) of the award shall be in the form of stock options (such number of options to be determined by the Compensation Committee of CCOH) and fifty percent (50%) of the award shall be in the form of restricted shares of Class A common stock of CCOH.
One-Time Long Term Incentive Grant. As additional consideration for entering into this Agreement, Employee has been awarded a one-time Long Term Incentive Grant of 150,000 units, allocated as follows: (i) 52,500 restricted stock units and (ii) 97,500 options to acquire shares of Class A Common Stock of iHeartMedia, Inc. (“iHM, Inc.”), pursuant to the iHM, Inc. 2019 Incentive Equity Plan (the “Plan”), and applicable award agreement and related vesting provisions.
One-Time Long Term Incentive Grant. As additional consideration for entering into this Agreement, Employee shall be awarded a one-time Long Term Incentive Grant with an approximate value of $500,000.00 (the allocation of such award between stock options and restricted shares of Class A common stock of Clear Channel Outdoor Holdings, Inc. (“CCOH”) to be determined by the Compensation Committee of CCOH), pursuant to the CCOH 2012 Amended & Restated Stock Incentive Plan, or any successor plan thereto (the “Plan”), and applicable award agreement, subject to approval by the Board of Directors or the Compensation Committee of CCOH, as applicable.
One-Time Long Term Incentive Grant. The Executive shall also receive, promptly following the Effective Date, a one-time award (the “One-Time Equity Bonus”) under the Plan, in accordance with the terms and conditions of the Plan, that has a target grant date value of $2,600,000, comprising 70% fiscal 2025-2027 performance stock units and 30% fiscal 2025-2027 restricted stock units. The One-Time Equity Bonus shall be in a form and subject to terms and conditions, including clawback provisions, determined by the Company and consistent with those of equity awards to comparable senior executive of the Company.
One-Time Long Term Incentive Grant. As soon as practicable following the Effective Date, the Company shall recommend to the Board of Directors or the Compensation Committee of Clear Channel Outdoor Holdings, Inc. (“CCOH”) to grant to Employee a one-time Long Term Incentive (“LTI”) grant of stock options with an approximate value of One Million Five Hundred Thousand Dollars ($1,500,000.00), based upon current Black-Scholes valuation pursuant to the Clear Channel Outdoor Holdings, Inc. 2012 Stock Incentive Plan (the “Plan”) and the award agreement. Fifty percent (50%) of the award shall have performance-based vesting (such portion, the “Performance Vesting Options”) and Fifty percent (50%) of the award shall vest over time (the “Time Vesting Options”). Subject to Section 9(d), the Time Vesting Options shall vest in equal amounts on the first, second, third and fourth anniversaries of the Effective Date, so long as Employee remains employed on the vesting date. Subject to Section 9(d), the Performance Vesting Options shall vest as follows: (i) 50% of the Performance Vesting Options shall vest on the date that OIBDAN of Clear Channel Outdoor Americas (“CCOA”) is determined to be $599,137,000, and (ii) the remaining 50% of the Performance Vesting Options shall vest on the date that CCOA’s OIBDAN is determined to be $664,137,000, (each OIBDAN threshold a “Performance Hurdle” based upon the CCOA OIBDAN result approved by the Compensation Committee each year for purposes of paying executive incentive compensation), so long as Employee remains employed on the vesting date. The measurement period for determination of the achievement of the Performance Hurdle shall be based on the annual period beginning on January 1st of each year and ending on December 31st of each year. In the event of any divestitures or acquisitions, the parties shall negotiate and agree to reasonable adjustments to the Performance Hurdle.