Special Equity Award. Effective as of the Effective Date, the Corporation shall grant the Executive
(i) 75,000 shares of restricted stock (the “Restricted Stock”) pursuant to the Corporation’s 1998 Restricted Stock Plan. Except as otherwise expressly provided herein, (A) the Restricted Stock award shall vest and cease to be restricted only if the Executive is employed by the Corporation on the third anniversary of the Effective Date and (B) the Executive will immediately forfeit the Restricted Stock if he ceases to be employed by the Corporation prior to the third anniversary of the Effective Date; and
(ii) a stock option (the “Option”) to purchase an aggregate of 105,000 shares of the Corporation’s common stock, par value $0.01 (the “Shares”), pursuant to the Corporation’s 1995 Stock Option Plan. The Option shall have a term often (10) years from the date of grant, subject to earlier expiration as provided herein. The per Share exercise price of the Shares underlying the Option shall be equal to the last reported sales price for a Share on the Effective Date (or the immediately preceding trading day if the Effective Date is not a trading day) as quoted by brokers and dealers trading in the Shares in the over-the-counter market. Except as otherwise expressly provided herein, the Option shall vest and become exercisable with respect to one-third of the Shares on each of the first three anniversaries of the Effective Date provided the Executive is employed by the Corporation on each such date. Except as otherwise provided herein, the Restricted Stock award and Option shall be governed by the terms of the equity incentive plan(s) and/or agreements pursuant to which the Restricted Stock award and Option are granted.
Special Equity Award. Employee received a special performance-based restricted stock award approved by the Compensation Committee at its July 11, 2016 meeting with a grant value of approximately $2 million, vesting 50% on the third anniversary date of the award and 50% on the fourth anniversary date of the award. The award is subject to the Aviation Services business group’s achievement of the performance measures for the three-year performance period beginning June 1, 2016 and ending May 31, 2019 as set forth on Exhibit A.
Special Equity Award. The Company shall grant to Employee seven thousand five hundred (7,500) restricted stock units under the Scientific Games Corporation 2003 Incentive Compensation Plan, as amended and restated (the “Plan”), pursuant to an equity award agreement (in the form to be provided to Employee) to be entered into by and between the Company and Employee (the “Equity Award Agreement”). The Equity Award Agreement shall provide that the equity award 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 date of grant, subject to any applicable provisions relating to accelerated vesting and forfeiture as described in this Agreement, the Equity Award Agreement or the Plan.
Special Equity Award. For calendar year 2018, in addition to any other compensation or benefits, State Auto will provide Executive with a special equity award in the form of Forty Thousand (40,000) deferred stock units ("DSU's"). The terms and conditions applicable to the DSU's will be determined by the STFC Compensation Committee at the time of their grant. Further, upon termination of Executive's employment pursuant to any section of Article V, notwithstanding any provision contained in this Agreement to the contrary, the treatment of the DSU's will be governed bu the terms of the applicable award agreement.
Special Equity Award. For calendar year 2020, in addition to any other compensation or benefits, State Auto will provide Executive with a special equity award in the form of deferred stock units (“DSU’s”), with a fair market value equal to Five Hundred Thousand Dollars ($500,000) on the date of their grant. The terms and conditions applicable to the DSU’s will be determined by the State Auto Financial Compensation Committee at the time of their grant. Further, upon termination of Executive’s employment pursuant to any section of Article V, notwithstanding any provision contained in this Agreement to the contrary, the treatment of the DSU’s will be governed by the terms of the applicable award agreement.”
3. This Amendment may be executed in several counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument.
Special Equity Award. As of the date of this Agreement, the Executive shall be awarded 115,385 stock units under the Stock Incentive Plan. The agreement evidencing such award (the “Stock Unit Agreement”) shall be substantially in the form attached to this Agreement as Exhibit E.
Special Equity Award. Contemporaneously with the execution of this Agreement, Executive and Employer are entering into a Restricted Stock Agreement pursuant to which Employer will award a total of Forty-Five Thousand (45,000) shares of restricted stock to Executive as a special equity award, subject to vesting or forfeiture in accordance with the terms of the Restricted Stock Agreement.
Special Equity Award. Effective as of the Commencement Date, the Corporation shall grant the Executive (i) 27,500 shares of restricted stock (the "Restricted Stock") pursuant to the Corporation's 1998 Restricted Stock Plan. Except as otherwise expressly provided herein, (A) the Restricted Stock award shall vest and cease to be restricted only if the Executive is employed by the Corporation on the third anniversary of the Commencement Date and (B) the Executive will immediately forfeit the Restricted Stock if he ceases to be employed by the Corporation prior to the third anniversary of the Commencement Date; and
Special Equity Award. As of the Amendment Effective Date, Executive shall receive a special equity award of seventy thousand (70,000) restricted stock units (the “Special Equity Award”), under the Plan, pursuant to an equity award agreement to be provided by the Company and entered into by and between SGC and Executive (the “Special Equity Award Agreement”). The Special Equity Award Agreement shall provide that the Special Equity Award shall vest with respect to twenty-five percent (25%) of the shares of SGC common stock subject to such Special Equity Award on each of the first four anniversaries of the Special Equity Award grant date, subject to any applicable provisions relating to accelerated vesting and forfeiture as described in the Agreement, the Special Equity Award Agreement or the Plan.
Special Equity Award. Subject to applicable securities laws and confirmation by the Company’s Compensation Committee of the Company’s Board of Directors, the Company will grant you a special equity award pursuant to the Company’s 2024 Equity Incentive Plan that will be valued at $720,000. You will receive this award in the form of 50% non-qualified options (NQ options) to purchase the Company’s common stock and 50% in restricted stock units (RSUs). The number of NQ option shares under the award, if any, will be determined with the estimated “fair value” of a NQ option calculated using the Black-Scholes option pricing model on the grant date of the award. The number of RSU shares will be determined using the closing price of the Company’s common stock on the Nasdaq Global Market on the grant date of the award or the most recent trading day when grants take place on market holidays. Subject to any acceleration in accordance with the 2024 Equity Incentive Plan, vesting for this award will occur upon termination of your services as Interim Chief Executive Officer based on the number of months you served in such capacity (rounded up for partial months) divided by twelve (12).
