Restricted Share Grants. The Company shall grant to the Executive [ ] of the REIT’s common shares of beneficial interest subject to certain time vesting requirements and other conditions set forth in the applicable award agreement. The Company shall also grant to the Executive [ ] of the REIT’s common shares of beneficial interest subject to attainment of certain performance goals and other conditions set forth in the applicable award agreement.
Restricted Share Grants. Pursuant to the Chesapeake Lodging Trust Equity Plan (or any successor plan thereto), as it may be amended from time to time, the Trust may make one or more grants to the Executive of common shares of beneficial interest of the Trust or other securities (including securities of the Partnership) as may be issued thereunder from time to time subject to certain vesting requirements and other conditions set forth in the applicable award agreement(s).
Restricted Share Grants. Subject to the last sentence of this paragraph, initial grants of restricted shares will be made to each participant effective as of January 1, 2004, and shares subject thereto will vest on January 1, 2005. Such initial grants of restricted shares shall not be tied to any performance target and are limited to 9,000 shares in the case of the President and 4,500 shares each in the case of the Vice President and Chief Financial Officer and any other executive officer selected to participate in the Plan. Each initial grant of restricted shares made prior to the 2004 annual meeting of stockholders of the Company shall be subject to approval of the Plan by the holders of a majority of the Company’s outstanding common stock and the subject shares will be forfeited if such approval is not obtained. The Compensation Committee shall establish applicable performance targets based on earnings before taxes (EBT) of the Company and shall determine the number of additional restricted shares that may be earned by the participants in the Plan if the applicable performance targets are met or exceeded. Performance targets shall be set by the Compensation Committee for fiscal years 2004, 2005 and 2006, and the number of additional restricted shares that may be earned with respect to each performance target for each such fiscal year shall also be set by the Compensation Committee. At the end of a fiscal year, if the Compensation Committee determines, after consultation with management and the Company’s independent auditors, that EBT for a particular fiscal year meets or exceeds one or more of the performance targets, each participant shall receive, with respect to such fiscal year and the targets met or exceeded, the number of restricted shares provided for by the Compensation Committee . Each such grant of restricted shares awarded for a particular fiscal year shall vest on January 1 of the second fiscal year following the fiscal year for which such award was made. Accordingly, grants awarded for fiscal 2004 will vest on January 1, 2006; grants awarded for fiscal 2005 will vest on January 1, 2007; and grants awarded for fiscal 2006 will vest on January 1, 2008. No later than December 15 of the year in which any restricted shares awarded under the Plan vest, the Company will credit to the participant who received such shares an amount equal to the Fair Market Value of such shares times the highest marginal tax rate applicable to such executive for federal tax purposes. This am...
Restricted Share Grants. As set forth in Exhibit A(3) of the Wellsford Disclosure Letter, the Restricted Share Grants issued to X.
Restricted Share Grants. As set forth in Exhibit A(3) of the Wellsford Disclosure Letter, the Restricted Share Grants issued to X. XxxXxxxxx and X. Xxxxxx shall be fully vested upon the change in control effected by the Merger. X. XxxXxxxxx and X. Xxxxxx shall receive EQR Common Shares in the Merger and Newco common shares in the Spin-off for the restricted Wellsford Common Shares as set forth in Exhibit A(3).
Restricted Share Grants. 2.3(b) SEC ............................................................... 2.5(b) Securities Act .................................................... 2.6 Subsidiary ........................................................ 2.2(a) Superior Acquisition Proposal ..................................... 4.1(d) Surviving Corporation ............................................. 1.1 Takeover Statute .................................................. 2.20 Taxes ............................................................. 2.14
Restricted Share Grants. The Company shall grant to the Executive 96,000 of the REIT’s common shares of beneficial interest subject to certain time vesting requirements and other conditions set forth in the applicable award agreement. The Company shall also grant to the Executive 23,000 of the REIT’s common shares of beneficial interest subject to attainment of certain performance goals and other conditions set forth in the applicable award agreement. The number of time-based and performance-based restricted common shares of beneficial interest granted to the Executive will be adjusted ratably based on the aggregate number of the REIT’s common shares of beneficial interest outstanding following the offering, including for this calculation common shares of beneficial interest sold upon exercise of the underwriters’ overallotment option, plus the total number of shares sold in the concurrent private placements.
Restricted Share Grants. The Company shall grant to the Executive 22,500 of the REIT’s common shares of beneficial interest subject to certain time vesting requirements and other conditions set forth in the applicable award agreement. The number of time-based restricted common shares of beneficial interest granted to the Executive will be adjusted ratably based on the aggregate number of the REIT’s common shares of beneficial interest outstanding following the offering, including for this calculation common shares of beneficial interest sold upon exercise of the underwriters’ overallotment option, plus the total number of shares sold in the concurrent private placements.
Restricted Share Grants. The REIT has established the 2002 Equity Incentive Plan, which provides for the issuance of restricted Common Shares (“Restricted Share Grants”) to the extent that such Common Shares are available thereunder. The Executive shall be eligible to receive Restricted Share Grants, subject to Compensation Committee approval. The REIT granted the Executive an initial Restricted Share Grant for 500,000 Common Shares on August 16, 2006 (the “Initial Restricted Share Grant”).
Restricted Share Grants. A grant of Restricted Shares is an Award of shares of Common Stock granted to a Participant, subject to such restrictions, terms and conditions, if any, as the Committee deems appropriate, including, without limitation, (a) restrictions on the sale, assignment, transfer, hypothecation or other disposition of such shares, (b) the requirement that the Participant deposit such shares with the Company while such shares are subject to such restrictions, and (c) the requirement that such shares be forfeited upon termination of employment or service for any reason or for specified reasons within a specified period of time.
