Spectrum $2B Equity Program Award Clause Samples

Spectrum $2B Equity Program Award. Executive shall be eligible to participate in an additional equity program award during fiscal year 2016, which is termed as the “Spectrum $2B Equity Program”, wherein Executive shall be eligible to receive a restricted stock unit award valued at the target level of performance at Three Million Dollars ($3,000,000) at the time the award is earned (the “S2B Equity Award”). ▇▇▇ ▇▇▇ Equity Award will be awarded as promptly as practicable following the Effective Date, but in no event more than thirty (30) days following the Effective Date. Both the grant of the S2B Equity Award and vesting of any earned restricted stock units pursuant to the S2B Equity Award shall be in accordance with the terms and conditions of the award agreement for the S2B Equity Award and the Omnibus Stock Plan and shall be subject to the Compensation Committee’s and Board’s approval.