Share Ownership Requirement. It will be important for Bioverativ to ensure strong alignment between the interests of its senior executives and those of Bioverativ stockholders. It is expected that through your Bioverativ annual long-term incentive grants, you will accumulate and retain Bioverativ shares in an amount equivalent to 3x of your salary within a reasonable period of time that is yet to be determined.
Share Ownership Requirement. It will be important for SpinCo to ensure strong alignment between the interests of its senior executives and those of SpinCo stockholders. It is expected that through your SpinCo annual long-term incentive grants, you will accumulate and retain SpinCo shares in an amount equivalent to a specified multiple of your salary within a reasonable period of time that is yet to be determined.
Share Ownership Requirement. In accordance with the Share Ownership Requirement policy in force, the Officer commits to owning shares which total value equals at least one (1) time his base salary as of the farthest of the following dates:i) April 1st 2024; orii) The 5th anniversary date of his appointment.
Share Ownership Requirement. At all times during the Employment Term and Restricted Period, Executive will maintain ownership of Shares with an aggregate value equal to or greater than the product of (i) Executive’s Base Salary as then in effect during the Employment Term or, during the Restricted Period, as in effect on the first day of the calendar year in which Executive’s employment termination occurs, multiplied by (ii) ten (10). If, during the Employment Term and Restricted Period, Executive becomes noncompliant with the Share ownership requirements of this Section 7(d), then the Company will provide Executive with written notice of Executive’s failure to comply and Executive will have a cure period of sixty (60) days following the date of the notice during which Executive will be required to come into compliance with the Share ownership requirements. For the avoidance of doubt, during the Restricted Period, Executive’s obligation to own Shares will be limited to the number of Shares calculated as A times B, divided by C. For this purpose, “A” equals Executive’s Base Salary as in effect on the first day of the calendar year in which Executive’s employment termination occurs, “B” equals ten (10), and “C” equals the closing per share price of a Share on the New York Stock Exchange on the first day of the calendar year in which Executive’s employment termination occurs.
Share Ownership Requirement. Grantee understands and acknowledges that Grantee is expected to adhere to Share ownership and Share retention requirements in connection with Awards granted under the Plan, including the Restricted Stock. As of the Grant Date, the Share ownership requirement is stated as a multiple of Grantee’s annual cash retainer for service on the Board and mandates that Grantee own a number of Shares with a value equal to the applicable multiple of such annual cash retainer. Xxxxxxx’s Restricted Stock count toward satisfying Grantee’s Share ownership requirement beginning at the Grant Date.
