Common use of LTMIP Clause in Contracts

LTMIP. In connection with and in addition to the fiscal year 2020 LTMIP grant (to be granted in 2019), you will receive a supplemental grant of equity awards with a grant date value equal to Three Hundred Seventy-Five Thousand Dollars ($375,000) (on the same terms as the annual 2020 LTMIP grant) to reflect your execution of an Employment Agreement to serve as Executive Vice President, Chief Communications and Corporate Marketing Officer of the combined company following the Closing Date and the potential adjustment to the timing of LTMIP grants following the Closing Date. This supplemental grant will granted at the same time as the 2020 LTMIP grant, but shall be forfeited in its entirety in the event the Closing (as defined in the Merger Agreement) does not occur.

LTMIP. In connection with and in addition to the fiscal year 2020 LTMIP grant (to be granted in 2019), you will receive a supplemental grant of equity awards with a grant date value equal to Three Hundred Seventy-Five Thousand Dollars ($375,000) 1,634,375 (on the same terms as the annual 2020 LTMIP grant) to reflect your execution of an Employment Agreement to serve as Executive Vice President, Chief Communications General Counsel and Corporate Marketing Officer Secretary of the combined company following the Closing Date and the potential adjustment to the timing of LTMIP grants following the Closing Date. This supplemental grant will granted at the same time as the 2020 LTMIP grant, but shall be forfeited in its entirety in the event the Closing (as defined in the Merger Agreement) does not occur.