Ongoing Grants. Executive shall be eligible to receive, solely in the discretion of the Board or the Committee, additional annual equity grants during the Employment Term.
Ongoing Grants. For each year during the Term, Executive shall be granted a combination of restricted stock units in respect of the Company’s Class A common stock (“RSUs”), performance share units in respect of the Company’s Class A common stock (“PSUs”) and nonqualified stock options in respect of the Company’s Class A common stock (“Options”) (valued in accordance with Black-Scholes or similar binomial option-pricing model), such awards having an aggregate fair value equal to $1,000,000 (based on the fair market value of the Company’s common stock on the date of grant). The equity award each year shall be divided among the three types of awards as follows: RSUs — 30%; PSUs — 40%; and Options — 30%. The exercise price for each Option granted under this Section 3(c)(i) shall be the fair market value of the Company’s Class A common stock as of the date of their grant. Each grant of Options and RSUs shall vest in equal annual installments over four years. All or a portion of each grant of PSUs shall vest at the end of a three year performance period relating to the grant. The Compensation Committee shall establish the PSU performance criteria in good faith and in consultation with the Executive. Executive acknowledges that on February 8, 2016, the Company granted him the RSUs and Options required under this Agreement in respect of the 2016 calendar year, and the PSUs required in respect of the 2016 calendar year will be granted to him after the Stockholder Approval (as defined below) is obtained. The RSUs, PSUs and Options granted under this Section 3(c)(i) shall be subject to such other terms as set forth in the applicable grant agreement and in the underlying equity plan as adopted by the Company in good faith consultation with Executive.
Ongoing Grants. Executive shall be eligible for consideration for additional equity grants during the Employment Term in the sole discretion of the Board (the “Ongoing Grants”); provided that no such grants shall be made prior to March 1, 2021. Any Ongoing Grants shall be subject to the availability of Shares at the time of grant and such vesting terms and conditions as may be determined by the Board in its discretion, and both the amount and type of such grants shall be based on merit, to meet industry benchmarks or otherwise, taking into account market practice and the performance of both the Company and Executive.
Ongoing Grants. Each Nonemployee Director who both (a) is a Nonemployee Director on the last business day of a Fiscal Year, and (b) has served as a Nonemployee Director for at least six months (which includes such last business day), automatically shall receive, as of such last business day only, an Option to purchase 10,000 Shares.
Ongoing Grants. Executive shall be eligible to receive, solely in the discretion of the Board or the Committee, additional annual equity grants during the Employment Term. For the avoidance of doubt, the Committee does not contemplate that Executive shall receive equity grants other than the grants outlined in this Section 4 of the Agreement during the Employment Term.
Ongoing Grants. On each annual anniversary of each Non-Employee Director’s immediately preceding election or appointment to the Board, such Non-Employee Director shall automatically be granted a fully vested Option to purchase 10,000 Shares (with such grant increased to 15,000 Shares for the then current Chairman of the Board), or such lesser amount of Shares as is allowed pursuant to Section 9.5, provided that such Non-Employee Director is still a member of the Board.
Ongoing Grants. Executive will be eligible for consideration for future equity grants during the Employment Term in the sole discretion of the Chief Executive Officer of the Company and the Committee.
Ongoing Grants. During each year of the Term, Executive shall be granted a combination of restricted stock units in respect of the Company’s Class A common stock (“RSUs”) and performance share units in respect of the Company’s Class A common stock (“PSUs”), such awards having an aggregate fair value, each year, equal to $1,000,000 (based on the fair market value of the Company’s Class A common stock on the date of grant). The equity award each year shall be divided among the two types of awards as follows: RSUs - 60%; and PSUs - 40%. Each grant of RSUs shall vest in equal annual installments over four (4) years. The Compensation Committee of the Board of Directors of the Company shall establish the PSU performance criteria, including the performance period relating to the grant. The RSUs and PSUs shall be subject to such other terms as set forth in the applicable grant agreement and in the underlying equity plan as adopted by the Company.
Ongoing Grants. Each Nonemployee Director who is reelected as such at an Annual Meeting of the Company’s Stockholders, automatically shall receive, as of the date of such Annual Meeting, 10,000 Restricted Stock Units.
Ongoing Grants. Executive will be eligible for consideration for additional equity grants during the Employment Term in the sole discretion of the Committee commensurate with his position with the Company and as provided to similarly situated executives of the Company.
