RSU Grants. During the Employment Term, Executive shall be entitled to receive the following grants of restricted stock units (“RSUs”) with respect to shares of the Company’s common stock (“Shares”):
(1) No later than ten (10) business days following the Commencement Date, Executive shall receive a grant of service-vesting RSUs with respect to 325,100 Shares, which shall be granted under the terms of the Company’s 2006 Employee, Director and Consultant Stock Plan, as amended and restated (the “2006 Plan”) and have a vesting commencement date of January 1, 2019 (the “0000 XXXx”). The 0000 XXXx shall vest over a three (3)-year period, with 50% of the 2019 RSUs vesting on July 1, 2020 and the remaining 50% vesting in equal quarterly installments thereafter; provided that, in the event of a termination of Executive’s employment, the 2019 RSUs shall be treated in accordance with Section 9 hereof.
(2) Upon the earlier to occur of (i) an IPO that closes on or before December 31, 2020 (a “2020 IPO”) and (ii) the execution on or before December 31, 2020 of a definitive transaction agreement to enter into a “Corporate Transaction” (as such term is defined in Exhibit B) (a “2020 Sale”), Executive shall be entitled to receive a grant of RSUs based on the percentage (not to exceed 1.5%) of the Company’s fully-diluted outstanding capital stock (not taking into account such grant or the 2020 IPO or 2020 Sale, as applicable) determined in accordance with Exhibit A (the “Equity Percentage”), as follows:
(i) RSUs granted in connection with the 2020 IPO (the “IPO RSUs”) shall be granted in the following two traches: (A) 50% of the IPO RSUs shall be granted on or promptly following the closing date of the 2020 IPO, with an Equity Percentage based on the closing price per Share on such closing date (“Tranche 1”), and (B) 50% of the IPO RSUs shall be granted on or promptly following the 180-day anniversary of the closing of the 2020 IPO, with an Equity Percentage based on the average of the five (5) highest closing prices per Share during the period beginning on the date of the Company’s first earnings release following the 2020 IPO (or the 140-day anniversary of the 2020 IPO closing date, if earlier) and ending on the 180-day anniversary of the 2020 IPO closing date (“Tranche 2”), in each case subject to Executive’s continued employment through the closing date of the 2020 IPO, other than as provided in Section 4(c)(2)(iii). The IPO RSUs shall vest and settle in Shares over the three (3)-...
RSU Grants. Executive is eligible to receive additional performance grants of one million eight hundred eighty thousand dollars ($1,880,000) annually in RSUs, at the discretion of the Compensation Committee of Root, Inc. (the “Compensation Committee”) and subject to Executive meeting performance expectations for Executive’s role. Any such grants shall be governed by the Root, Inc. 2020 Equity Incentive Plan (the “Plan”), as may be duly amended from time-to-time by the Root, Inc. Board of Directors.
RSU Grants. The Executive shall be entitled to receive 32.175 restricted stock units (“RSUs”) in respect of the Common Units (as that term is defined in Holdings’ Limited Liability Company Agreement) of Holdings. The RSUs will be granted as of the Effective Date (or as soon as practicable thereafter) and one-half of such grant will vest on each of the next two anniversaries of the Effective Date. Upon termination of the Executive’s employment with the Company, the Executive will retain all unvested RSUs, unless the Executive’s employment is terminated for Cause (as defined below), in which case all unvested RSUs will be forfeited. All other terms of the RSU grants will be subject to the terms of the Company’s 2012 Amended and Restated Stock Incentive Plan.
RSU Grants. The Executive shall be entitled to receive RSUs in an amount equal to 4% of the outstanding Common Units (as that term is defined in the Company’s Limited Liability Company Agreement) of the Company as of the Effective Date. The RSUs will be granted as of the Effective Date (or as soon as practicable thereafter) and one-third (1/3) of such RSUs will vest on January 1, 2013. Another one-third (1/3) of the RSUs will vest on the date that is one year following the Effective Date, and the final one-third (1/3) of the RSUs will vest on the date that is two years following the Effective Date. Upon termination of the Executive’s employment with the Company, the Exceutive will retain all unvested RSUs, unless the Executive’s employment is terminated for Cause (as defined below), in which case all unvested RSUs will be forfeited.
RSU Grants. In connection with your actual commencement of employment with the Company, you will be granted the following awards of restricted stock units relating to Parent's common stock in accordance with the Francesca's Holdings Corporation 2015 Equity Incentive Plan (the “Plan”):
(i) An award on the same terms and conditions as the annual awards of performance shares granted to the Company's other executive officers for the Company's 2020 fiscal year (including the performance metrics, goals and weightings applicable to such awards), with the target number of shares subject to such award to be determined by dividing (A) the product obtained by multiplying (x) Four Hundred Thousand Dollars ($400,000), by (y) a fraction, the numerator of which is the number of calendar days between the Effective Date and the last day of the Company's 2020 fiscal year and the denominator of which is three hundred sixty-five (365), by (B) the closing price of a share of Parent's common stock on The Nasdaq Stock Market on the Effective Date. Such award will be made in the form of restricted stock units and be made in connection with the setting of the aforementioned performance metrics, goals and weightings. Such award will be evidenced by a Performance Stock Unit Award Agreement, be subject to the approval of the Compensation Committee, and be in accordance with the terms and conditions of the Plan.
(ii) An award of a number of time-vested shares determined by dividing (A) the product obtained by multiplying (x) One Hundred Thousand Dollars ($100,000), by (y) a fraction, the numerator of which is the number of calendar days between the Effective Date and the last day of the Company's 2020 fiscal year and the denominator of which is three hundred sixty-five (365), by (B) the closing price of a share of Parent's common stock on The Nasdaq Stock Market on the Effective Date, such award to vest (x) with respect to one-third (1/3rd) of the shares on the first anniversary of the Effective Date if your employment with the Company continues through the first anniversary of the Effective Date, (y) with respect to one-third (1/3rd) of the shares on the second anniversary of the Effective Date if your employment with the Company continues through the second anniversary of the Effective Date and (z) with respect to the remaining one-third (1/3rd) of the shares on the third anniversary of the Effective Date if your employment with the Company continues through the third anniversary of the Effecti...
RSU Grants. Promptly following the Effective Date, the Compensation Committee of the Board will grant Executive an award of 425,000 restricted stock units (the “RSU Award”). The RSU Award will be subject to vesting as follows: 1/16th of the shares of the RSU Award will vest and be issuable on February 20, 2018, and 1/16th of the shares under the RSU Award will vest and be issuable on each of the Company’s standard quarterly vesting dates (May 20, August 20, November 20 and February 20) thereafter, subject to Executive’s continued service with the Company. The RSU Award will be governed in all respects by the Company’s applicable plan documents and the RSU award agreement attached as Exhibit A, except as otherwise provided in this Agreement.
RSU Grants. Subject to Section 5(b) below, during the Interim Term, subject to approval by the Compensation Committee of the Board, for each month of service in either or both Interim Roles, the Company shall grant to the Executive ten thousand (10,000) fully-vested restricted stock units (“RSUs”) pursuant to the Company’s 2010 Incentive Award Plan (as may be amended, the “Plan”). The terms and conditions of each RSU grant shall be set forth in a separate award agreement in a form prescribed by the Company (each, an “RSU Agreement”), to be entered into by the Company and the Executive, which shall evidence the grant of RSUs. The RSUs shall be granted monthly in arrears, pro-rated for any partial month of service in either or both Interim Roles and governed in all respects by the terms and conditions of the Plan. For the avoidance of doubt, no additional RSUs shall be granted due to service in both Interim Roles and the RSU grants shall not be reduced due to service in only one Interim Role during any portion of the Interim Term.
RSU Grants. The Company shall grant prior to the Effective Time, to each Continuing Employee set forth on Schedule 5.14 (each an “RSU Grantee”), a number of Company RSUs with respect to each RSU Grantee equal to the number set forth opposite each RSU Grantee’s name on Schedule 5.14 (each, an “RSU Grant”). Each RSU Grant shall vest commencing on the vesting commencement date, and in accordance with the vesting schedule, as set forth on Schedule 5.14. Prior to the Effective Time, the Company shall take all actions that Parent may reasonably require to effect the grant of the Company RSUs described in this section, including, but not limited to obtaining all required consents, making any amendments to the Company Stock Plan, and adopting any new forms of award agreement.
RSU Grants. As soon as reasonably practicable following the Closing, Parent shall grant restricted stock units (“RSUs”) with an aggregate value equal to the Restricted Stock Unit Value at the time of grant based on the Trading Price, to certain employees of the Company, such employees to be determined by the Company prior to the Closing in consultation with the Parent. The terms of the RSUs shall provide for, among other things, that 1/4 of the RSUs shall vest on the first four anniversaries of the Closing Date, subject to the grantee’s continued employment with the Sub or Parent.
RSU Grants. Promptly following Executive’s commencement of employment, which will be January 6, 2016 (the “Start Date”), and as a material inducement to Executive’s employment by the Company, the Compensation Committee of the Board will grant Executive (i) an award of 200,000 restricted stock units (the “First RSU Award”) and (ii) an award of 560,000 restricted stock units (the “Second RSU Award”). The First RSU Award will be subject to vesting as follows: 100% of the shares under the First RSU Award will vest and be issuable on the second anniversary of the Start Date, subject to Executive’s continued service with the Company. The Second RSU Award will be subject to vesting as follows: 14/48ths of the shares under the Second RSU Award will vest and be issuable on February 20, 2017, 1/16th of the shares under the Second RSU Award will vest and be issuable on each of the next 11 of the Company’s standard quarterly vesting dates (May 20, August 20, November 20 and February 20) thereafter, and 1/48th of the shares under the Second RSU Award will vest and be issuable on February 20, 2020, subject to Executive’s continued service with the Company. Each of the RSU Awards will be governed in all respects by the Company’s 2015 Inducement Plan and the RSU award agreements attached as Exhibit A.
