Common use of Quarterly Grant Clause in Contracts

Quarterly Grant. Subject to Xxxxx’ continued employment hereunder through the relevant grant date, and subject to regulatory approval, if required, on the first day following each three (3) month anniversary of the Amendment Date that occurs during the Term (each, a “grant date”), Xxxxx shall be issued a number of the Company’s common shares equivalent to ONE HUNDRED EIGHTY-SEVEN THOUSAND FIVE HUNDRED DOLLARS ($187,500.00), calculated using the closing price (in regular trading) of the Company’s common shares on the last trading day immediately prior to the respective grant date (each a “Quarterly Grant”) and subject in each case to applicable tax withholding. Each Quarterly Grant shall be fully vested upon grant, and the shares subject to such Quarterly Grant shall be issued not more than five (5) business days after the applicable grant date. Notwithstanding the foregoing, subject to Xxxxx’ continued employment hereunder through September 1, 2013 and subject to regulatory approval, if required, on September 1, 2013 Xxxxx shall receive a pro-rata portion of the Quarterly Grant for the period ending on September 1, 2013 based on the period of time elapsed since the immediately preceding Quarterly Grant. For the sake of clarity, any future Quarterly Grants shall be forfeited in the event that this Agreement, and Xxxxx’ employment hereunder, is terminated for any reason prior to September 1, 2013. Additionally for the sake of clarity, any and all references to RSUs in Sections 6(c) and 6(g) of the Agreement shall not include any Quarterly Grant. If shareholder or regulatory approval of any Quarterly Grant is necessary and Lions Gate is unable to obtain such approval for all or any portion of a Quarterly Grant, then Xxxxx shall be entitled to alternative commensurate compensation, the details of which shall be negotiated in good faith.”

Appears in 1 contract

Samples: Employment Agreement (Lions Gate Entertainment Corp /Cn/)

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Quarterly Grant. Subject to Xxxxx’ continued employment hereunder through the relevant grant date, date (and in each case subject to shareholder or regulatory approval, if required), on the first day following November 3, 2012 and on each three (3) month anniversary of the Amendment Date November 3, 2012 that occurs during the Term period through and including November 3, 2017 (eacheach such anniversary date, a “grant dateQuarterly Grant Date,” and the last day of such period, the “Final Quarterly Grant Date”), Xxxxx shall be issued a number of the Company’s Lions Gate common shares equivalent to ONE HUNDRED EIGHTY-SEVEN THOUSAND FIVE HUNDRED DOLLARS ($187,500.00)US$187,500, calculated using the closing price (in regular trading) of the CompanyLions Gate’s common shares on the last trading day immediately prior to the respective grant date (each a “Quarterly Grant”) and subject in each case to applicable tax withholding. Each Quarterly Grant shall be fully vested upon grant, and the shares subject to such Quarterly Grant shall be issued not more than five (5) business days after the applicable grant dateQuarterly Grant Date. Notwithstanding the foregoing, in the event that, prior to the Final Quarterly Date, Lions Gate terminates Xxxxx’ employment without Cause pursuant to Section 11(f) or Xxxxx terminates his employment for Good Reason pursuant to Section 11(e)(iv), then, subject to Xxxxx’ continued employment hereunder through September 1Sections 12(d) and 13(b), 2013 and subject to regulatory approval, if required, on September 1, 2013 Xxxxx shall receive a pro-rata portion of the Quarterly Grants shall continue to be granted to Xxxxx on each quarterly grant date through the Final Quarterly Grant for Date (including the period ending on September 1, 2013 based final Quarterly Grant to be made on the period of time elapsed since the immediately preceding Final Quarterly GrantGrant Date), and no further Quarterly Grants shall be made after that date. For the sake of clarity, any future Quarterly Grants shall be forfeited in the event that this Agreement, and Xxxxx’ employment hereunder, hereunder and the Term is terminated for any reason other than as contemplated by the preceding sentence prior to September 1, 2013. Additionally for the sake of clarity, any and all references to RSUs in Sections 6(c) and 6(g) of the Agreement shall not include any Final Quarterly GrantGrant Date. If shareholder or regulatory approval of any Quarterly Grant is necessary and Lions Gate is unable to obtain such approval for all or any portion of a Quarterly Grant, then Xxxxx shall be entitled to alternative commensurate compensation, the details of which shall be negotiated in good faith.” 5. A new Section 7A is hereby added to the Employment Agreement to read in its entirety as follows:

Appears in 1 contract

Samples: Employment Agreement (Lions Gate Entertainment Corp /Cn/)

Quarterly Grant. Subject to Xxxxx' continued employment hereunder through the relevant grant date, date (and in each case subject to shareholder or regulatory approval, if required), on the first day following November 3, 2012 and on each three (3) month anniversary of the Amendment Date November 3, 2012 that occurs during the Term (each, a “grant dateQuarterly Grant Date”), Xxxxx shall be issued a number of the Company’s Lions Gate common shares equivalent to ONE HUNDRED EIGHTY-SEVEN THOUSAND FIVE HUNDRED DOLLARS ($187,500.00)US$187,500, calculated using the closing price (in regular trading) of the Company’s Lions Gate's common shares on the last trading day immediately prior to the respective grant date (each a “Quarterly Grant”) and subject in each case to applicable tax withholding; provided, however, that if Xxxxx' employment hereunder continues through the Expiration Date, he shall be entitled to receive a final Quarterly Grant under this Agreement on the Expiration Date (the “Final Quarterly Grant”). Each Quarterly Grant shall be fully vested upon grant, and the shares subject to such Quarterly Grant shall be issued not more than five (5) business days after the applicable grant dateQuarterly Grant Date. Notwithstanding the foregoing, in the event that Lions Gate terminates Xxxxx' employment without Cause pursuant to Section 11(f) or Xxxxx terminates his employment for Good Reason pursuant to Section 11(e)(iv), then, subject to Xxxxx’ continued employment hereunder through September 1Sections 12(d) and 13(b), 2013 and subject to regulatory approval, if required, on September 1, 2013 Xxxxx shall receive a pro-rata portion of the Quarterly Grants shall continue to be granted to Xxxxx on each quarterly grant date through the Expiration Date (including the Final Quarterly Grant for the period ending on September 1, 2013 based to be made on the period of time elapsed since the immediately preceding Expiration Date), and no further Quarterly GrantGrants shall be made after that date. For the sake of clarity, any future Quarterly Grants shall be forfeited in the event that this Agreement, Xxxxx' employment hereunder and Xxxxx’ employment hereunder, the Term is terminated for any reason other than as contemplated by the preceding sentence prior to September 1, 2013. Additionally for the sake of clarity, any and all references to RSUs in Sections 6(c) and 6(g) of the Agreement shall not include any Quarterly GrantExpiration Date. If shareholder or regulatory approval of any Quarterly Grant is necessary and Lions Gate is unable to obtain such approval for all or any portion of a Quarterly Grant, then Xxxxx shall be entitled to alternative commensurate compensation, the details of which shall be negotiated in good faith.

Appears in 1 contract

Samples: Employment Agreement (Lions Gate Entertainment Corp /Cn/)

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Quarterly Grant. Subject to Xxxxx’ Feltheimer’s continued employment hereunder through the relevant grant date, date and subject to regulatory approval, if required, on the first day following each three (3) month anniversary of the Amendment Date October 8, 2008 that occurs during the Term (each, a “grant date”), Xxxxx Feltheimer shall be issued a number of the Company’s common shares equivalent to ONE TWO HUNDRED EIGHTY-SEVEN FIFTY THOUSAND FIVE HUNDRED DOLLARS ($187,500.00250,000.00), calculated using the closing price (in regular trading) of the Company’s common shares on the last trading day immediately prior to the respective grant date (each a “Quarterly Grant”) and subject in each case to applicable tax withholding. Each Quarterly Grant shall be fully vested upon grant, and the shares subject to such Quarterly Grant shall be issued not more than five (5) business days after the applicable grant date. Notwithstanding the foregoing, subject to Xxxxx’ Feltheimer’s continued employment hereunder through September 1March 31, 2013 2014 and subject to regulatory approval, if required, on September 1March 31, 2013 Xxxxx 0000 Xxxxxxxxxx shall receive a pro-rata portion of the a Quarterly Grant for the period ending on September 1March 31, 2013 2014 based on the period of time elapsed since the immediately preceding Quarterly Grant. Notwithstanding the foregoing, in the event that this Agreement is terminated pursuant to Section 14(a)(iv) or 14(b), the Quarterly Grants shall continue to be granted on each quarterly grant date through the prorated grant scheduled to be made on March 31, 2014, and no further Quarterly Grants shall be made after that date. For the sake of clarity, notwithstanding Section 6(e), any future Quarterly Grants shall be forfeited in the event that this Agreement, and Xxxxx’ Feltheimer’s employment hereunder, is terminated for any reason prior pursuant to September 1Section 14(a)(i), 201314(a)(ii) or 14(a)(iii). Additionally for the sake of clarity, any and all references to RSUs in Sections 6(c) and 6(g6(e) of the Agreement shall not include any Quarterly Grant. If shareholder or regulatory approval of any Quarterly Grant is necessary and Lions Gate is unable to obtain such approval for all or any portion of a Quarterly Grant, then Xxxxx Feltheimer shall be entitled to alternative commensurate compensation, the details of which shall be negotiated in good faith.

Appears in 1 contract

Samples: Employment Agreement (Lions Gate Entertainment Corp /Cn/)

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