Matching RSUs Sample Clauses

Matching RSUs. As soon as practicable after the end of fiscal year 2016 and after each subsequent fiscal year during the Term, the Company shall grant to the Executive a number of restricted stock units equal to the number shares of the Company’s common stock held by the Executive as of that fiscal year end, divided by the closing price per share of the Company’s common stock on the last trading day of the fiscal year (the “Matching RSUs”). For the sake of clarity, the total value of the Matching RSUs granted will equal the number of shares held by the Executive as of that fiscal year end. For purposes of this Section 3.4.2, “shares held” shall include issued and outstanding shares held directly by the Executive as well as vested equity, the settlement of which has been deferred pursuant to the Company’s DEP, but shall not include shares issued upon vesting of Matching RSUs issued pursuant to this section. The Matching RSUs shall vest on the third anniversary of the applicable Matching RSU issuance date, provided the Executive has remained continuously employed by the Company on the relevant vesting date (or Executive’s employment was terminated as a result of Executive’s death or Disability (as defined below). The total value of Matching RSUs granted under this Section shall not exceed $1,000,000 per fiscal year.