Examples of Initial LTIP Award in a sentence
The Initial LTIP Award shall be subject to an award agreement, in the form attached hereto as Exhibit A, that shall be entered into with effect as of the Effective Date and shall not differ from Exhibit A, other than as a result of inclusion of the Grant Date and the LTIP Notional Amount (each, as defined in Exhibit A).
Any portion of the Initial LTIP Award or the Annual LTIP Award that has become vested shall be non-forfeitable.
Except as may otherwise be provided in Section 10 of this Agreement, any unvested portion of the Initial LTIP Award shall be forfeited upon termination of the Executive’s employment.
The Initial LTIP Award will vest in three equal annual tranches over a three-year period, based on your continued service through each vesting date.
To the extent then unvested and unpaid, the Executive’s Initial LTIP Award shall vest on the date of termination but shall be paid at such time as such Initial LTIP Award would otherwise have been paid had the Executive remained employed with the Company.
Any portion of the Initial LTIP Award that has become vested shall be non-forfeitable.
Fifty percent (50%) of each Annual LTIP Award granted to the Executive shall provide for pro rata time vesting over five years in accordance with the terms of the applicable award agreement (the “Time Vesting LTIP Award”, which, for the avoidance of doubt, shall not include the Initial LTIP Award, as defined below) and the other fifty percent (50%) of such award shall provide for performance-based vesting (the “Performance Vesting LTIP Award”).
Any portion of the Initial LTIP Award or the 2009 LTIP Award that has become vested shall be non-forfeitable.
It is expected that the Initial LTIP Award will be allocated among time based restricted stock units (60%) and performance based restricted stock units (40%), in each cased generally subject to your continued service through the relevant vesting dates, and the terms and conditions of the relevant award agreements.
The Initial LTIP Award shall be subject to the terms and conditions of the Incentive Plan and The Xxxxxx Xxxxxx Corporation Restricted Stock Agreement, substantially in the form attached hereto as Exhibit A.