Common use of Second Award Clause in Contracts

Second Award. Stock Options to purchase 300,000 Shares (the “$10 Performance Options”) will vest in equal, annual installments on each of the first three anniversaries of the Date of Grant, or, if later, on the close of the twentieth consecutive trading day on the New York Stock Exchange on which the closing price of Common Stock is at least $10.00 over $●4 (the “Reference Price”).

Appears in 1 contract

Sources: Stock Option Award Agreement (American International Group Inc)

Second Award. Stock Options to purchase 300,000 200,000 Shares (the “$10 Performance Options”) will vest in equal, annual installments on each of the first three anniversaries of the Date of Grant, or, if later, on the close of the twentieth consecutive trading day on the New York Stock Exchange on which the closing price of Common Stock is at least $10.00 over $●4 (the “Reference Price”).

Appears in 1 contract

Sources: Stock Option Award Agreement (American International Group Inc)