Initial Restricted Stock Award. Effective upon execution of this Agreement, the Company shall grant to the Executive, within thirty (30) days after the Effective Date, a restricted stock award of 0.34% of the fully-diluted shares of the common stock outstanding on the forty-fifth (45th) day after closing of the initial public offering of shares of the REIT's common stock, excluding shares issued to the underwriters as compensation to the underwriters. Such stock shall be subject to restrictions on transfer by the Executive and repurchase by the Company such that the Executive shall not be permitted to transfer such shares (other than succession by will or by operation of laws of descent and distribution) and the Company shall have the right to repurchase or recover such shares for the amount of cash paid therefor, if any, if the Executive shall terminate employment from the Company, provided that such transfer and repurchase restrictions shall lapse with respect to 33.33% of such initial shares on the one-year anniversary date of the issuance of the shares and on each subsequent anniversary of the issuance of the shares that the Executive shall remain continuously as an employee of the Company as of such date.
Initial Restricted Stock Award. The Company shall make an initial signing award to the Executive as of the Effective Date of 50,000 restricted shares of the Company's common stock under and subject to the terms and conditions of the Stock Compensation Plan (the "Stock Plan"), a copy of which is attached hereto as Exhibit A. The Executive shall vest in 50% of such shares on the 90th day following the Effective Date and 50% on the six month anniversary of the Effective Date. The foregoing award of restricted stock shall be evidenced by a restricted stock award agreement, which is attached hereto as Exhibit B and made a part of this Agreement.
Initial Restricted Stock Award. On the date of signing this Agreement, Executive shall be granted 1,000,000 shares of the Company's common stock ("Common Stock"), which shares shall initially be subject to forfeiture and shall vest and become non-forfeitable in accordance with the provisions of this Section 3 (the “Restricted Stock Award”). The Company shall take all actions as are necessary to ensure that the Restricted Stock Award qualifies as an “inducement award” not subject to stockholder approval under the rules of the American Stock Exchange (“AMEX”).
Initial Restricted Stock Award. The Company shall make an initial signing award to the Executive of 150,000 restricted shares of the Company's common stock under and subject to the terms and conditions of the Stock Compensation Plan dated January 1, 2004 or as thereafter amended (the "Stock Plan")
Initial Restricted Stock Award. On the Commencement Date, Executive shall be granted a restricted stock award covering one hundred thousand (100,000) shares of the Company’s common stock and granted to Executive under the Incentive Plan (the “Restricted Stock” pursuant to a restricted stock award agreement substantially in the form of Exhibit C attached hereto (the “Restricted Stock Agreement”) and shall be net settled according to the standard terms and conditions applicable to officer restricted stock granted under the Incentive Plan.
Initial Restricted Stock Award. In consideration for Executive entering into this Agreement, effective as of January 1, 2015 and subject to the Executive’s continued employment on such date, the Company shall grant Executive 250,000 shares of the Company’s common stock subject to that certain Restricted Stock Award Agreement between the Company and Executive (“Initial Restricted Stock”). The Initial Restricted Stock shall vest ratably over the 3-year period beginning on January 1, 2015, and shall be subject to such other terms and conditions and set forth in a separate Restricted Stock Award Agreement between Executive and the Company, which agreement shall include an acceleration of vesting in the event of (A) a Change in Control (as defined in Section 8(g) below), (B) the Executive’s termination of employment with the Company without Cause (as defined in Section 8(b) below) and (C) the Executive’s death.
Initial Restricted Stock Award. On the Effective Date, Employee shall be granted 5,000 shares of restricted stock of the Company. The restricted shares shall vest within two weeks of the one-year anniversary of the grant date, subject to Employee’s continued employment with the Company through such date.
Initial Restricted Stock Award. During the Term and provided that no Forfeiture Event has occurred, the Chairman shall receive a grant of 40,000 shares of restricted Common Stock or restricted stock units per annum (an “RS Award”) pursuant to the Company’s 2013 Omnibus Incentive Plan (the “Plan”). For the avoidance of doubt, the Chairman will receive no more than five grants of an RS Award pursuant to this Agreement. The initial grant of an RS Award shall occur promptly following the Effective Date unless otherwise agreed by the parties hereto and shall vest in full on the earlier of (1) the first anniversary of the date of grant or (2) immediately prior to the first annual meeting of stockholders of the Company that occurs in the year following the year of the date of grant, provided that no Forfeiture Event has occurred. Each subsequent RS Award shall be granted promptly following the Company’s annual meeting of stockholders commencing in 2015 and shall vest in full on the earlier of (1) the first anniversary of the date of grant or (2) immediately prior to the first annual meeting of stockholders of the Company that occurs in the year following the year of the date of grant, provided that no Forfeiture Event has occurred. The terms and conditions of each RS Award shall be set forth in a separate award agreement in a form prescribed by the Company (the “Award Agreement”), to be entered into by the Company and the Chairman, which shall evidence the grant of the RS Award. All RS Awards shall be subject to the terms and conditions of the Plan. Notwithstanding anything to the contrary contained in this Agreement or in any applicable Award Agreement, (i) upon the occurrence of a Forfeiture Event, the Chairman will forfeit to the Company any unvested RS Award and will be ineligible to receive any additional grants of RS Awards pursuant to this Agreement and (ii) if the Chairman’s service with the Company pursuant to this Agreement terminates prior to the applicable vesting date, any unvested RS Award shall be forfeited.
Initial Restricted Stock Award. Employee will receive a one-time award of restricted stock equal in value to $202,000. For this purpose, the value of the restricted stock will be based on the average closing price of the DM3\941973.2 stock of the Company for the month of March, 2009. The restricted stock will vest at the rate of 25% for each complete year worked by Employee under this Agreement, beginning from the Effective Date.
Initial Restricted Stock Award. Subject to approval by the Board, on the Effective Date or as soon as reasonably practicable thereafter, the Company shall grant to the Executive an award of 150,000 shares (“Shares”) of restricted stock (the “Initial Restricted Stock Award”). The Initial Restricted Stock Award shall vest as to one-third of the underlying Shares (rounded down to the nearest whole share) on each of the first three six-month anniversaries of the Effective Date (that is 50,000 Shares of the Initial Restricted Stock Award shall vest six months after the Effective Date, 50,000 Shares of the Initial Restricted Stock Award shall vest twelve months after the Effective Date, and 50,000 Shares of the Initial Restricted Stock Award shall vest eighteen months after the Effective Date), subject to the Executive’s continued employment with the Company on each such vesting date. During the Term, the Executive shall be eligible to receive such other grants of equity awards in such amounts and subject to such terms as determined by the Compensation Committee in its sole discretion.
