Common use of Equity Compensation Programs Clause in Contracts

Equity Compensation Programs. During the Term of Employment, the Executive shall be entitled to participate in any equity-based plans, programs or arrangements applicable to senior-level executives as established and modified from time to time by the Chief Executive Officer or the Board in their sole discretion, to the extent that the Executive is eligible under (and subject to the provisions of) the plan documents governing those programs. In addition, subject to approval by the Compensation Committee, the Executive will be granted stock options for one hundred thousand (100,000) shares, subject to the provisions of Tier’s Incentive Stock Option Plan. Options are typically issued during the first week of the calendar quarter following the date of hire and are priced according to the market price at close of business on the last business day prior to the date of the grant. Options vest over five years with 20% of the total grant vesting after completion of each 12-month period from the original date of issuance. The option grant agreement and related documentation will be sent to the Executive within 30 days following the grant date.

Equity Compensation Programs. During the Term of Employment, the Executive shall be entitled to participate in any equity-based plans, programs or arrangements applicable to senior-level executives as established and modified from time to time by the Chief Executive Officer or the Board in their sole discretion, to the extent that the Executive is eligible under (and subject to the provisions of) the plan documents governing those programs. In addition, subject Subject to approval by the Compensation Committee, the Executive will be granted stock options for one two hundred thousand (100,000200,000) shares, subject to the provisions of Tier’s Incentive Stock Option Plan. Options are typically issued during the first week of the calendar quarter following the date of hire and are priced according to the market price at close of business on the last business day prior to the date of the grant. Options vest over five years with 20% of the total grant vesting after completion of each 12-month period from the original date of issuance. The option grant agreement and related documentation will be sent to the Executive within 30 days following the grant date. In addition, subject to approval by the Compensation Committee, the Executive shall also be entitled to receive the Enterprise Value Award (“EVA”) Plan set forth in Exhibit A attached hereto.

Equity Compensation Programs. During the Term of Employment, the Executive shall be entitled to participate in any equity-based plans, programs or arrangements applicable to senior-level executives as established and modified from time to time by the Chief Executive Officer or the Board in their sole discretion, to the extent that the Executive is eligible under (and subject to the provisions of) the plan documents governing those programs. In addition, subject Subject to approval by the Compensation Committee, the Executive will be granted stock options for one two hundred thousand (100,000200,000) shares, subject to the provisions of Tier’s Incentive Stock Option Plan. Options are typically issued during the first week of the calendar quarter following the date of hire and are priced according to the market price at close of business on the last business day prior to the date of the grant. Options vest over five four years with 2025% of the total grant vesting after completion of each 12-month period from the original date of issuance. The option grant agreement and related documentation will be sent to the Executive within 30 days following the grant date.