Restricted Stock Units and Stock Options. Employee will be entitled to the vested restricted stock units as set forth above, subject to the terms of the 2004 Equity Plan and letter agreement governing such restricted stock units. It is Employee’s responsibility to be aware of, and comply with the conditions of any tax reporting and/or sale of such restricted stock units.
Restricted Stock Units and Stock Options. During Associate’s employment with the Company, Associate has been granted as a retention incentive certain restricted stock units and stock options. All unvested restricted stock units and any unvested stock options with a strike price less than 110% of the Company stock price on the day prior to the Change of Control shall be subject to accelerated vesting upon a Change of Control if the Change of Control results in either (i) ownership of the Company by a non-publicly traded entity such that the stock is no longer liquid or (ii) ownership of the Company by a publicly traded entity that has not agreed as part of any purchase and sale agreement to continue the Associate’s unvested restricted stock units and stock options in substantially the same form as existed immediately prior to the Change of Control.
Restricted Stock Units and Stock Options. Please note that this award is being granted to you pursuant to the “Qualifying Person” exemption under section 273(1)(f) of the Singapore Securities and Futures Act (Chapter 289, 2006 Ed.) (SFA) You should note that such award grant is hence subject to the general resale restriction under section 257 of the SFA and you hereby undertake that you shall not make any subsequent sale in Singapore, or any offer of such subsequent sale in Singapore, of any of the shares comprising the award unless such sale or offer in Singapore is made pursuant to the exemptions under Part XIII Division (1) Subdivision (4) (other than section 280) of the Securities and Futures Act (Cap 289, 2006 Ed.).
Restricted Stock Units and Stock Options. (a) Upon execution and delivery of this Agreement:
(i) All 879,605 restricted stock units of the Company previously granted to ML shall immediately vest and shall be subject to the settlement provisions of the respective grant agreements.
(ii) All stock options previously granted by the Company to ML shall immediately vest and be exercisable in full in accordance with the terms of the Stock Option Agreement dated October 16, 2007.
(iii) ML acknowledges and agrees that other than the restricted stock units and stock options referenced in Section 7(a)(i) and 7(a)(ii) above, he is not entitled to any other equity compensation from the Company.
Restricted Stock Units and Stock Options. Immediately upon execution and delivery of this Agreement, the Company will pay $6,285,819 to the Executive in respect of the Restricted Stock Units and Stock Options of the Company held by him and listed on Schedule A hereto, and all such Restricted Stock Units and Stock Options shall immediately thereupon be cancelled and the Executive shall have no further rights thereunder.
Restricted Stock Units and Stock Options. Immediate vesting of all Restricted Stock and Stock Options. Distribution or payment of any amount of the restricted stock unit awards will be payable no later than March 15, 2014.
Restricted Stock Units and Stock Options. 4.1. The Company shall grant to the Chief Executive restricted shares with a fair market value of US$325,000 upon the pricing of the initial public offering of the common stock of the Company. Such grant shall be made under and in accordance with the rules of the Genesis Lease Limited Share Incentive Plan (the Plan) which will be established by the Board of Directors and communicated thereafter to the Chief Executive. These shares may not be sold by the Chief Executive while the restrictions are in place. The restrictions on the shares shall lapse in equal annual instalments over a period of three years following the date of the pricing of the initial public offering. The dividends payable on the shares will be paid on a current basis as and when declared by the Company.
4.2. The Company shall grant to the Chief Executive upon the pricing of the initial public offering share options, with an exercise price equal to the IPO price, over such number of shares as will give the share options an aggregate value on the date of grant of US$425,000 as decided by the Board of Directors based on a determination provided by such external advisors as the Board of Directors shall decide using Black-Scholes share option model methodology. Such grant shall be made under and in accordance with the rules of the Plan and the terms and conditions of this award will be set out in an award agreement issued under the Plan. The Company shall instruct the Committee responsible for the Plan to provide for the vesting of the Share Options in three equal instalments over a period of three years on the anniversary of the date of grant (i.e. from the date of the closing of the initial public offering).
Restricted Stock Units and Stock Options. Employee will be entitled to exercise any portion of the stock option granted to him that is vested as of the Termination Date, subject to the terms of the Company’s Equity Compensation Plan and letter agreement between the Company and Employee. Employee acknowledges and agrees that under the terms of the stock option granted to Employee, all of the vested portion of the stock option granted to Employee will terminate if not exercised within 90 days of the Termination Date, and will be thereafter unexerciseable. It is Employee’s responsibility to be aware of the date that any vested, unexercised portion of the stock option granted to her terminates and become unexerciseable. Employee further acknowledges and agrees that under the terms of the stock option granted to Employee, no shares will vest after the Termination Date and all unvested shares will terminate as of the Termination Date. Employee will be entitled to the vested restricted stock units as previously granted subject to the terms of the 2004 Equity Plan and letter agreement(s) governing such restricted stock units. It is Employee’s responsibility to be aware of, and comply with the conditions of any tax reporting and/or sale of such restricted stock units.
Restricted Stock Units and Stock Options. (a) Effective as of the Effective Date, Executive shall be granted a non-qualified option to purchase 500,000 shares (the “Option Grant”) of the Company’s common stock at an exercise price per share equal to the last reported sale price of a share of the Company’s common stock on the Nasdaq National market on the Effective Date of this Agreement. Vesting of the Option Grant will be over four years with twenty-five percent (25%) of the grant amount vesting in each of the four years, based on continued employment, beginning on the Effective Date. The Option Grant will be subject to the terms of the Company’s 2004 Equity Compensation Plan and the standard form of option agreement used by the Company for its employees. By approving this Agreement, the Board approves the grant of the foregoing stock option and the restricted stock units described below.
(b) Effective as of the Effective Date, Executive shall be granted 200,000 shares of restricted stock units, and the lapsing of the restrictions on such restricted stock units will be as follows based on continued employment: • First anniversary of Effective Date: 40,000 shares units of 200,000 restricted stock grant • Second anniversary of Effective Date: 40,000 shares units of 200,000 restricted stock grant • Third anniversary of Effective Date: 40,000 of shares units of 200,000 restricted stock grant • Fourth anniversary of Effective Date: 80,000 of shares units of restricted stock grant
Restricted Stock Units and Stock Options
