MEDIFAST, INC. INDUCEMENT AWARD AGREEMENTInducement Award Agreement • October 5th, 2016 • Medifast Inc • Miscellaneous food preparations & kindred products • Delaware
This INDUCEMENT AWARD AGREEMENT (the “Agreement”), dated as of October 3, 2016 (the “Date of Grant”) is delivered by Medifast, Inc. (the “Company”), to Daniel Chard (the “Grantee”). This Agreement provides for the grant of stock-based awards with respect to shares of common stock, par value $0.01 per share, of the Company, in accordance with the terms and conditions of this Agreement. The Compensation Committee (the “Committee”) of the Board of Directors of the Company (the “Board”) has decided to make a stock-based award in the form of a grant of Restricted Shares and a grant of Deferred Shares, subject to the terms and conditions set forth in this Agreement, as an inducement for the Grantee to promote the best interests of the Company and its stockholders.
