Subsequent Equity Awards. Subsequent to the Initial Stock Award, no additional equity or equity-related grants shall be granted by the Company until 12 months from the date of Closing.
Subsequent Equity Awards. One hundred percent (100%) of the then unvested portion of any equity awards granted to Executive following the Initial Awards and while Executive was serving as an executive officer of the Company (the “Subsequent Awards”) will immediately vest and, if applicable, become exercisable. The Subsequent Awards will, to the extent applicable, remain exercisable following Executive’s termination for the period prescribed in the related award agreements.
Subsequent Equity Awards. Subject to the discretion of the Company’s Board of Directors and the Compensation Committee, Executive may be eligible to receive additional grants of stock options or other equity awards from time to time in the future, on such terms and conditions as the Board or Compensation Committee shall determine as of the date of any such award.
Subsequent Equity Awards. Executive shall be eligible to be granted additional equity awards by the Compensation Committee of the Board on an annual basis (“Subsequent Equity Awards”), commencing with the first grant of annual equity awards to executive officers of the Company generally. The Compensation Committee shall generally determine the size of Subsequent Equity Awards taking into account the Executive’s performance and commensurate with grants made to chief executive officers of companies in the Company’s compensation peer group, as determined by the Compensation Committee’s independent compensation consultant. Prior to proration, as described below, the number of shares of Company common stock subject to the first such Subsequent Equity Awards (the “Initial Subsequent Equity Awards”) shall be established by dividing a specified dollar amount by the market closing price of a share of Company common stock on the last trading day prior to the grant date. Such specified dollar amount shall be (a) $1,625,000 if the Company has achieved 100% of its annual operating plan and Executive has achieved 100% of his personal target objectives established by the Board, (b) $2,000,000 if the Company has achieved 125% of its annual operating plan and Executive has achieved 125% of his personal target objectives established by the Board, and (c) $2,500,000 if the Company has achieved 150% of its annual operating plan and Executive has achieved 150% of his personal target objectives established by the Board. The Compensation Committee may consider a larger specified dollar amount if the foregoing annual operating plan and personal objectives are exceeded. However, the number of shares of Company common stock subject to the Initial Subsequent Equity Awards so determined shall be prorated to reflect a period of service less than one full year between Executive’s commencement of employment and the date of grant of the Initial Subsequent Equity Awards. Such Initial Subsequent Equity Awards shall be comprised of 50% restricted stock units and 50% performance units. Except as otherwise provided by this Agreement, all Subsequent Equity Awards shall be subject to the terms and conditions applicable to annual equity awards granted to executive officers of the Company generally and the terms and conditions of the Company’s 2003 Equity Incentive Plan (or its successor) and the applicable form of award agreement, execution of which shall be a condition to the award.
Subsequent Equity Awards. The Initial Equity Awards are intended to represent the Executive's equity awards for the initial two years of his employment by the Company. Thereafter during his employment hereunder, the Executive shall be eligible for equity awards in accordance with normal competitive pay practices, on a basis no less favorable than the Company's other senior executives, as determined by the Compensation Committee.
Subsequent Equity Awards. In addition to the Initial Equity Awards, the Executive shall be eligible to be granted additional equity awards by the Compensation Committee of the Board on an annual basis (the “Subsequent Equity Awards”), commencing with the first grant of annual equity awards to executive officers of the Company
Subsequent Equity Awards. During the six (6) months following the date of this Agreement, subject to the Board or the Compensation Committee establishing and approving certain specified performance targets and goals in accordance with Section 2(a)(i) (the “Perfor xxxxx Goals”), the Executive will be entitled to receive an award targeted for 4,500,000 shares of the Company’s common stock (the “2016 Award”). The 2016 Award will be granted in the form of a restricted stock unit which will vest upon the satisfaction of the Performance Goals, as determined by the Board or the Compensation Committee and otherwise be subject to the terms and conditions of the Plan and the applicable form of award agreement, the execution of which shall be a condition to the Executive’s receipt of the 2016 Award. In addition to the Initial Equity Award and the 2016 Award, the Executive shall be eligible to be granted additional equity awards by the Compensation Committee of the Board on an annual basis based upon the established performance targets and goals contemplated by Section 2(a)(i) (the “Subsequent Equity Awards”), commencing with the first grant of annual equity awards to executive officers of the Company generally. The Compensation Committee shall generally determine the size of Subsequent Equity Awards taking into account the Executive’s performance and commensurate with grants made to chief executive officers of companies in the Company’s compensation peer group.
Subsequent Equity Awards. Executive shall be eligible to be considered for one or more additional equity awards during the Employment Term, as the Board or its Compensation Committee may deem appropriate in its sole discretion.
Subsequent Equity Awards. On each anniversary of the Effective Date, Executive shall be eligible to receive, pursuant to the terms of the Plan (or a successor plan): (i) an additional grant of Shares of Restricted Stock having a Restricted Stock Equity Award Value on the date of grant at least equal to the Restricted Stock Equity Award Value of the Restricted Stock component of the Initial Equity Award on the date it was granted and (ii) an additional grant of Options to purchase Shares, with an exercise price per Share equal to the Fair Market Value (as defined in the Plan) per Share on the date of grant, having an Option Equity Award Value on the date of grant at least equal to the Option Equity Award Value of the Options component of the Initial Equity Award on the date it was granted (each such award, a “Subsequent Equity Award”; the Initial Equity Award and the Subsequent Equity Awards are referred to herein collectively as the “Equity Awards”).
Subsequent Equity Awards. We have also agreed that you will be eligible for future equity grants under the LSIP or subsequent plans starting with grants made in 2007. With respect to any such grant of stock, stock options or other equity or equity equivalents (an "Equity Award"), if there is a Qualifying Termination following any such grant, you will vest pro rata in such Equity Award. The pro-rata calculation will be based upon the percentage of time elapsed from the original date of such grant to the vesting date, each award having multiple vesting dates utilized in the calculation (e.g. - a grant which vests equally in thirds over a three year period would have three vesting dates.) As an example, the calculation for a stock award which is six (6) months through a twelve (12) month vesting timeframe would vest 50 percent of its portion of the associated award, while that which is six (6) months through a twenty-four (24) month vesting timeframe would vest 25 percent of its portion of the associated award, and that which is six (6) months through a thirty-six (36) month vesting timeframe would best one-sixth of its portion of the associated award. In the event of such a termination, any options which might vest as the result of your termination and any other options already vested as of the termination date must be exercised within thirty (30) days of your termination date.
