Executive Share Ownership Requirements. The Executive acknowledges that the Executive is subject to LICY’s executive share ownership requirements which, as at the date of this Agreement, provide that the executive officers of LICY are required to maintain an equity interest in LICY (through the ownership of common shares or similar instruments such as options and RSUs) with a value equal to or exceeding two times (2x) Base Salary within five (5) years of the Effective Date. The Executive’s equity interest in LICY shall be assessed by the Corporation on an annual basis. The Executive undertakes to comply with XXXX’s executive share ownership requirements, as such requirements may be amended from time to time by the Board at its discretion. In the event that the value of the Executive’s equity interest is less than the prescribed amount, the Executive agrees to: (a) hold any common shares of LICY delivered on the settlement of RSUs or reinvest the after-tax value of any cash-settled RSUs in common shares of LICY, and/or (b) hold the post-exercise value of any vested share options in common shares LICY.
Executive Share Ownership Requirements. The Executive acknowledges that the Executive is subject to XXXX’s executive share ownership requirements which, as at the date of this Agreement, provide that the executive officers of LICY are required to maintain an equity interest in LICY (through the ownership of common shares or similar instruments such as options and RSUs) with a value equal to or exceeding five times (5x) Base Salary for the CEO, and two times (2x) Base Salary for the other executive officers within five (5) years of the Effective Date. The Executive’s equity interest in LICY shall be assessed by the Corporation on an annual basis. The Executive undertakes to comply with XXXX’s executive share ownership requirements, as such requirements may be amended from time to time by the Board at its discretion. In the event that the value of the Executive’s equity interest is less than the prescribed amount, the Executive agrees to: (a) hold any common shares of LICY delivered on the settlement of RSUs or reinvest the after-tax value of any cash-settled RSUs in common shares of LICY, and/or (b) hold the post-exercise value of any vested share options in common shares LICY.
Executive Share Ownership Requirements. 7.1 One of the main objectives of our suite of incentive plans is to ensure there is strong alignment between the interests of our senior executives, which includes You, with those of our shareholders. Therefore, in order to encourage You to think like our shareholders, there is an expectation that You will build up and maintain an appropriate level of shareholding in Xxxxx & Nephew plc as a consequence of Your participation in the various incentive schemes operated by Us, whether referred to in this agreement or otherwise. The Remuneration Committee is currently reviewing the share ownership requirements and You will be bound by the share ownership requirements once they have been finalised. . For the avoidance of doubt the conditional award over 75,000 shares detailed in 5.2 above will NOT be subject to the share ownership requirements.
