Sign-On Grant. Promptly following the Effective Date, subject to proper action by the Board or the Committee, the Company shall award the Executive an initial equity grant (the “Sign-On Grant”) of 747 restricted shares of the Company’s common stock (the “Restricted Shares”). Subject to the Executive’s continued employment through the applicable vesting date, the Restricted Shares shall vest on January 1, 2024, and shall vest fully and immediately, if sooner, upon a termination of the Executive’s employment under this Agreement (i) by the Company without Cause (as defined in Exhibit A) or (ii) following a Change in Control (as defined in Exhibit A), by the Executive for Good Reason.
Sign-On Grant. As soon as reasonably practicable following the Effective Date, Employee shall be granted a one-time award of a number of restricted stock units (“Sign On RSUs”) with an equivalent value of $315,000 on the date of grant. The Sign On RSUs shall vest over three years and be subject to the terms and conditions of the EIP and Parent’s standard form of award agreement. The grant of the Equity Awards and the Sign On RSUs are subject to the approval of the compensation committee of the board of directors of Parent and the compensation committee determination of the value of such awards and the grant date shall be binding.
Sign-On Grant. On or promptly following the Effective Date, the Company will issue Executive a restricted stock award (the “Sign-On Grant”) under the LTIP of 10,000 shares of Company common stock. The Sign-On Grant shall vest 50% on the first anniversary of the Effective Date and 50% on the second anniversary of the Effective Date, in each case if Executive remains employed hereunder on such date.
Sign-On Grant. As soon as administratively practicable following the Closing, the Company shall grant to Employee 1,500 shares of restricted stock (the “Sign On Grant”) pursuant to the Company’s 2019 Equity Incentive Plan. The terms and conditions of such Sign On Grant shall be substantially the same as the terms and conditions applicable to grants of restricted stock made to other similarly situated Company executives; provided, however, that the Sign On Grant shall vest, based on Employee’s continued employment with the Company, as to 500 shares of restricted stock on each of the first three anniversaries of the Closing.
Sign-On Grant. In its sole discretion of, and subject to approval by the Board and compliance with any law or listing rule, as applicable, the Company may grant you an option to purchase 1,400,000 of the Company’s American Depositary Shares at the fair market value as determined by the Board as of the date of grant (the “Option”). The anticipated Option will be governed by the terms and conditions of the Company’s Long-Term Incentive Plan (the “Plan”) and the applicable grant agreement. Copies of the Plan and applicable grant agreement will be provided to you if and when the Option is granted to you, and will include the following vesting schedule: 25% of the total shares will vest on the one year anniversary of the vesting commencement date, and 1/36th of the total shares will vest monthly thereafter on the same day of the month as the vesting commencement date (or if there is no corresponding day, on the preceding day) as of each such date, and provided you remain in continuous employment at the Company through each such vesting date. In the event of any conflict between this Agreement or the Plan or the applicable grant agreement, the Plan and the applicable grant agreement will supersede this Agreement and control.
Sign-On Grant. Subject to limitations due to compliance with any applicable law or listing rule, as applicable, the Company will grant you an option to purchase 1,300,000 of the Company’s American Depositary Shares on the Start Date, or soon as practicable, at the fair market value at the time of grant as determined by the Board as of the date of grant (the “Option”). The Option will be governed by the terms and conditions of the Company’s Long-Term Incentive Plan (the “Plan”) and the applicable grant agreement. This grant will include the following vesting schedule: 25% of the total shares will vest on the one year anniversary of the vesting commencement date, which shall be no later than your Start Date, and 1/24th of the total shares will vest monthly thereafter on the same day of the month as the vesting commencement date (or if there is no corresponding day, on the preceding day) as of each such date until fully vested after 2 years, or for so long as you remain in continuous service as an employee of the Company. The Option will vest in full upon the closing of a Change of Control (as defined below) provided you either (1) remain employed through such closing date or (2) are subject to a Qualifying Termination (as defined below) within three (3) months prior to the closing date of such Change of Control.
Sign-On Grant. On June 1, 2012, the Company issued Executive a restricted stock award (the “Sign-On Grant”) under the LTIP of 10,000 shares of Company common stock. The Sign-On Grant vested 50% on June 1, 2013 and will vest 50% on June 1, 2014 if Executive remains employed hereunder on such date.
Sign-On Grant a. Subject to any applicable blackout periods pertaining to trading in common shares of the Employer by “Insiders” (as defined under applicable securities laws and regulations), the Executive will receive a USD$5,000,000 sign-on grant upon the later of the Commencement Date and the lifting of the applicable blackout period, comprised as follows:
i. 50% of the Sign-On Grant will be provided to the Executive through a grant of stock options, which will vest at a rate of 20% per year, starting on the first anniversary of the grant date, with a term often years (the “SOG Options”); and
ii. 50% of the Sign-On Grant will be provided to the Executive through a grant of performance share units, which will become eligible for vesting at a rate of 25% per year starting on the second anniversary of the grant date, with the actual number of units to vest to be determined based on achievement of pre-established performance criteria (the “SOG PSUs”), including:
(1) The actual number of units to vest will be determined by the Board of Directors of the Employer based on absolute Total Shareholder Return (“TSR”) performance over the applicable rolling two, three, four and five year periods. For example: Threshold 5 0 % Tare 15 % 100 % Maximum 20 % 200 % * Results interpolated between the points CAGR = Compound Annual Growth Rate
(2) The TSR measure under the SOG PSUs reflects the compound annual return over the applicable performance period using values at the beginning and end of the performance period based on the prior 20-trading day average and based on reinvestment of any dividends paid on the common shares during the period into additional common shares.
(3) Consideration will be given to enhancing the vesting from prior tranches based on subsequent performance experienced for later tranches.
(4) If the Executive becomes a Canadian tax filer, the SOG PSUs may be provided in the form of performance deferred share units (“PDSUs”) to avoid adverse tax treatment. The PDSUs will defer payment (and taxes) until the Executive leaves the Employer (assuming units have vested in accordance with the provisions set out above).
Sign-On Grant. Without regard to the provisions of Section 22 of this Agreement, and in addition to the remuneration to the Executive set forth in Section 5 of this Agreement, effective as of the Commencement Date, the Company shall award the Executive one hundred thousand (l00,000) RSUs (the “Special Sign-on Equity Grant”), which will vest on the earlier of his death, termination by the Company without cause, Change In Control Termination Event (as defined below), or June 30, 2021 both as a sign-on incentive and to ensure he remains with the Company at least through the last vesting trigger date in this Section.
Sign-On Grant a. Subject to any applicable blackout periods pertaining to trading in common shares of the RBA Pubco (as defined below) by “Insiders” (as defined under applicable securities laws and regulations), the Executive will receive a USD $300,000 sign-on grant in the form of RBA Pubco stock options (with the exact number of options being calculated as of the grant date using the Black-Scholes option pricing model), with such grant being made upon the later of the Commencement Date and the lifting of the applicable blackout period, and subject to the RBA Pubco’s normal governance policies, which wxxx xxxxx vest on the third anniversary of the grant date, with a term of ten years (the “SOG Options”).
