Sign-On Equity Awards. Pursuant to the Xxxxxxx Xxxx Homes Amended and Restated 2012 Equity Incentive Plan (as may be amended or superseded, the “EIP”), on, or as soon as administratively practicable after, the Effective Date (the actual date of grant, the “Grant Date”), the Company will grant Executive 134,650 shares of restricted Company common stock, all of which shall be subject to a risk of forfeiture until the time at which the applicable vesting conditions have been satisfied (the “Restricted Shares”), and 89,767 performance stock units, all of which shall be subject to a risk of forfeiture until the time at which the applicable vesting conditions have been satisfied (the “PSUs”). Each PSU shall constitute the contingent right to receive up to 2 shares of Company common stock.
3.3.1 The Restricted Shares shall vest, and the risk of forfeiture thereon lapse, on January 2, 2022, subject to Executive’s continuous service to the Company through the applicable vesting date. The Restricted Shares will otherwise be subject to Article 6 hereof, the terms of the EIP, and a restricted stock award agreement in the form attached hereto as Exhibit A.
3.3.2 The PSUs shall be eligible to vest based on an achievement factor (the “Achievement Factor”) determined using a pre-established formula tied to the achievement of relative total shareholder return targets set by the Board for the Company compared to a peer group of companies established by the Board, in each case, following a good faith consultation with Executive (the “Relative TSR Targets”), measured over two distinct but overlapping performance periods (each, a “Performance Period”). Each Performance Period will commence on January 1, 2019, with the first Performance Period ending on December 31, 2020 (the “2-Year Performance Period”) and the second Performance Period ending on December 31, 2021 (the “3-Year Performance Period”). As soon as administratively practicable following the completion of a Performance Period (but in no event later than the first regularly scheduled meeting of the Compensation Committee following the completion of the Performance Period), the Board or the Compensation Committee shall certify the Company’s performance against the Relative TSR Targets and the Achievement Factor applicable to such Performance Period as the result of such achievement. Within 10 days following the Board’s or the Compensation Committee’s certification of the Achievement Factor for the 2-Year Performance Period, the Company will ...
Sign-On Equity Awards. Contemporaneously with your commencement of employment with the Company, you will be granted the following Company equity awards:
(a) An employment inducement, nonstatutory stock option to purchase 800,000 shares of the Company’s common stock to be subject to such terms and conditions as are set forth in a nonstatutory stock option agreement substantially in the form attached hereto as Exhibit A.
(b) An employment inducement award of 400,000 restricted shares of the Company’s common stock to be subject to such terms and conditions as are set forth in a restricted stock award agreement substantially in the form attached hereto as Exhibit B.
Sign-On Equity Awards. In consideration of your accepting employment with the Company, the Company shall grant to you on the Start Date (i) options to acquire 1,800,000 shares of Company common stock (the “Sign-on Options”) and (ii) 500,000 restricted stock units in respect of Company common stock (the “Sign-on RSUs”), which, in each case, shall be granted under, and subject to the terms and conditions of, the Company Stock Plan, except as described below. The Sign-on Options shall have a strike price per Company common share equal to the Start Date Price and shall expire on the date that is the tenth anniversary of the Start Date, unless earlier exercised or forfeited. The Sign-on Options shall become vested and exercisable, subject to your continued employment with the Company, at the following times: (i) one-third of the Sign-on Options (“Tranche 1”) shall vest and become exercisable in two equal annual installments on the first two anniversaries of the Start Date, (ii) one-third of the Sign-on Options (“Tranche 2”) shall vest and become exercisable if the average of the Company’s closing common stock prices over any period of 15 consecutive trading days is at least equal to the sum of the Start Date Price plus $20 (the “First Price Target”) and (iii) one-third of the Sign-on Options (“Tranche 3”) shall vest and become exercisable if the average of the Company’s closing common stock prices over any period of 15 consecutive trading days is at least equal to the sum of the Start Date Price plus $40 (the “Second Price Target”). Notwithstanding the foregoing, the Sign-on Options shall not be exercisable, whether or not vested, prior to the second anniversary of the Start Date, except that such restriction shall not apply in the event your employment is terminated by the Company without Cause or your employment terminates because of your death or disability. The Sign-on RSUs shall vest, subject to your continued employment with the Company, in five equal annual installments on the first five anniversaries of the Start Date. The Sign-on RSUs shall include the right to receive currently (without deferral or vesting limitations) in cash the amount of any dividends paid on the underlying Company common shares. In addition, in the event of a Change in Control (as defined in the Company Stock Plan), (i) (A) 100% of the Tranche 1 Sign-on Options shall automatically vest and become exercisable, (B) 100% of the Tranche 2 Sign-on Options shall vest and become exercisable if the price per sh...
Sign-On Equity Awards. As further compensation for Executive's services under this Agreement, as of the Effective Date, the Company shall grant to Executive 1,000,000 Stock Options, pursuant to the Stock Plan and subject to such additional terms and conditions as specified in subparagraphs (iii)(A) and (B), respectively, of this Section 4(d). The Stock Options shall have a ten year term and shall have a per share exercise price equal to the fair market value (as defined in the Stock Plan) of the Company Stock on the Effective Date.
Sign-On Equity Awards. On the first day of the calendar month following the Start Date, you will receive two awards (the “Sign-On Equity Awards”) of restricted share units (“RSUs”). The Sign-On Equity Awards will be issued under the Kosmos Energy Ltd. Long Term Incentive Plan attached hereto as Exhibit A (such plan, or any successor thereto, the “LTIP”) and will be subject to the terms (including, without limitation, the applicable vesting schedules and forfeiture restrictions) set forth in the LTIP and individual award agreements substantially in the forms attached hereto as Exhibits B and C. The Sign-On Equity Awards will have an aggregate value as of the grant date of $3,500,000, of which $1,000,000 will be granted in the form of service-vesting RSUs and $2,500,000 will be granted in the form of performance-vesting RSUs. The number of common shares of Kosmos underlying each Sign-On Equity Award (at target, in the case of the performance-vesting RSUs) will be determined in accordance with the terms of the LTIP by dividing the grant date value of such award by the closing price of a common share on the grant date.
Sign-On Equity Awards. Subject to approval by the Board or the Compensation Committee (which will not be unreasonably withheld), within sixty (60) days following Commencement Date, the Executive will receive an equity grant (the “Initial Grant”) with an aggregate target value equal to approximately $2,000,000, with approximately one-half of the inducement grant to be in the form of restricted stock and one-half in the form of stock options. The number of shares of restricted stock and shares underlying stock options granted in respect of the Initial Grant shall be determined according to the Company’s customary practice for valuing equity grants and any shares of restricted stock or stock options granted in respect of the sign-on equity grants shall vest ratably on an annual basis over a period of four years from the date of the grant, so long as the Executive remains employed by the Company through the applicable vesting date. The Initial Grant will be subject to the terms of the award agreements evidencing such grants and the plan (if any) under which they are granted. In the event of a conflict between the terms of this Agreement and the terms of such agreements or plan (if any), this Agreement shall control.
Sign-On Equity Awards. Subject to approval by the Board or the Compensation Committee (which will not be unreasonably withheld), within sixty (60) days following Commencement Date, the Executive will receive an equity grant (the “Initial Grant”) with an aggregate target value equal to approximately $2,000,000, with approximately one-half of the inducement grant to be in the form of restricted stock and one-half in the form of stock options. The number of shares of restricted stock and shares underlying stock options granted in respect of the Initial Grant shall be determined according to the Company’s customary practice for valuing equity grants and any shares of restricted stock or stock options granted shall vest ratably on an annual basis over a period of four years from the date of the grant, so long as the Executive remains employed by the Company through the applicable vesting date. The Initial Grant will be subject to the terms of the award agreements evidencing such grants and the plan (if any) under which they are granted. In the event of a conflict between the terms of this Agreement and the terms of such agreements or plan (if any), this Agreement shall control.
Sign-On Equity Awards. As of the effective date of this Agreement, and conditioned on the Shareholder’s Approval of an increase in share availability for executive compensation, on the Effective Date of this Agreement, the Company shall grant to Executive 35,000 stock options under the Scientific Games Corporation 2003 Incentive Compensation Plan (the “Award Plan”), as amended and restated and individual stock option and restricted stock agreements to be entered into by and between the Company and the Executive (the “Equity Award Agreements”). The equity agreements shall provide that the equity awards shall vest with respect to twenty percent (20%) of the shares of common stock subject to such award on each of the first five anniversaries of the grant date, subject to certain provisions relating to forfeiture as described in this Agreement, the Equity Award Agreements or the Equity Plan.
Sign-On Equity Awards. Subject to the approval of the Committee, within ninety (90) days of his commencement of employment, Executive shall be granted (i) a restricted stock award having a value of $1.5 million on the date of grant, pursuant to, and subject to the provisions of, the Foot Locker 2007 Stock Incentive Plan and the terms of a restricted stock agreement, such shares to vest over a three-year period in annual installments beginning one year following the date of grant, subject to the Executive’s continued employment by the Company; and (ii) a nonstatutory stock option having a Black-Scholes value on the date of grant of $225,000, pursuant to, and subject to the provisions of, the Foot Locker 2007 Stock Incentive Plan and the terms of a nonstatutory stock option award agreement, such option to vest over a three-year period in annual installments beginning one year following the date of grant, subject to the Executive’s continued employment by the Company.
Sign-On Equity Awards. (i) Not later than three (3) business days after the Effective Date, Executive shall be awarded a grant of ten (10) year options with respect to 750,000 shares of common stock of the Company (the “Option”) under the Stock Plan. The Option shall vest in five equal installments on the first, second, third, fourth and fifth anniversaries of the Effective Date provided that Executive is employed by the Company on the date such installment is scheduled to so vest, subject to earlier vesting under certain circumstances, as provided substantially in the form of Stock Option Agreement attached hereto as Exhibit A-1. The exercise price of the Option shall be the Fair Market Value (as defined in the Stock Plan) of such shares on the date of grant. The Option shall otherwise be subject to the terms and conditions of the Stock Plan and such Stock Option Agreement.
(ii) Not later than three (3) business days after the Effective Date, Executive shall be awarded a grant of 250,000 shares of restricted common stock of the Company (the “Restricted Stock”) under the Stock Plan. The Restricted Stock shall vest in five equal installments on the first, second, third, fourth and fifth anniversaries of the Effective Date provided that Executive is employed by the Company on the date such installment is scheduled to so vest, subject to vesting as to an additional such installment on the second anniversary and an additional such installment on the third anniversary of the Effective Date in each case upon the achievement of certain performance goals, and otherwise subject to earlier vesting under other circumstances, as provided substantially in the form of Restricted Stock Agreement attached hereto as Exhibit A-2. The Restricted Stock shall otherwise be subject to the terms and conditions of the Stock Plan and such Restricted Stock Agreement.