Time-Vested Performance Equity Award Sample Clauses

Time-Vested Performance Equity Award. At the beginning of each year of the Term of Employment beginning with the year ending December 31, 2018, Executive shall be granted an annual award of time-vested equity in the form of long term incentive plan units of the Operating Partnership (“LTIPs”) (the “Annual LTIP Award”). The number of LTIPs to be issued pursuant to the Annual LTIP Award shall be determined by dividing an amount no less than $200,000 by the volume weighted average price of a share of the REIT’s Class A Common Stock, as reported on the NYSE MKT (or then-applicable Exchange), for the twenty (20) trading days immediately preceding the date of grant of such LTIP award. In addition, as of January 1, 2018, Executive shall be granted a pro-rated Annual LTIP Award for the 2017 stub period from the Effective Date through December 31, 2017, with the number of LTIPs granted to be determined based on the pro-rated dollar amount of the Annual LTIP Award, divided by the volume weighted average price of a share of the REIT’s Class A Common Stock, as reported on the NYSE MKT (or then-applicable Exchange), for the twenty (20) trading days immediately preceding (but not including) January 1, 2018. Each Annual LTIP Award (except the prorated award granted on January 1, 2018 for the 2017 stub period) will vest and become nonforfeitable in three equal installments on the effective date of each anniversary of grant, subject to provisions set forth in Sections 3(f) and 5 of this Agreement. The prorated award granted on January 1, 2018 for the 2017 stub period will vest and become nonforfeitable as follows: (i) the first installment on December 31, 2018 in the amount of one-third (1/3) of the 2017 stub period award and (ii) the second and third installments on the second and third anniversary of the Effective Date, respectively, in the amount of one-third (1/3) of the 2017 stub period award, in each case subject to provisions set forth in Sections 3(f) and 5 of this Agreement.
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Time-Vested Performance Equity Award. At the beginning of each year of the Term of Employment beginning with the year ending December 31, 2018, Executive shall be granted an annual award of time-vested equity in the form of long term incentive plan units of the Operating Partnership (“LTIPs”) (the “Annual LTIP Award”). The number of LTIPs to be issued pursuant to the Annual LTIP Award shall be determined by dividing an amount no less than $200,000 by the volume weighted average price of a share of the REIT’s Class A Common Stock, as reported on the NYSE MKT (or then-applicable Exchange), for the twenty (20) trading days immediately preceding the date of grant of such LTIP award. In addition, as of the Effective Date, Executive shall be granted a pro-rated Annual LTIP Award for the 2017 stub period, with the number of LTIPs granted to be determined based on the pro-rated dollar amount of the Annual LTIP Award, divided by the volume weighted average price of a share of the REIT’s Class A Common Stock, as reported on the NYSE MKT (or then-applicable Exchange), for the twenty (20) trading days immediately preceding the Effective Date. Each Annual LTIP Award (including the prorated award to be granted in 2017) will vest and become nonforfeitable in three equal installments on the effective date of each anniversary of grant, subject to provisions set forth in Sections 3(f) and 5 of this Agreement.
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Time-Vested Performance Equity Award. At the beginning of each calendar year of the Term of Employment beginning with the year ending December 31, 2019, Executive shall be granted an annual award of time-vested equity in the form of long term incentive plan units of the Operating Partnership (“LTIPs”) (the “Annual LTIP Award”). The number of LTIPs to be issued pursuant to the Annual LTIP Award shall be determined by dividing an amount equal to $100,000 by the volume weighted average price of a share of the REIT’s Class A Common Stock, as reported on the NYSE MKT (or then-applicable Exchange), for the twenty (20) trading days immediately preceding the date of grant of such LTIP award. Each Annual LTIP Award will vest and become nonforfeitable in three equal installments on the effective date of each anniversary of grant, subject to provisions set forth in Sections 3(g) and 4 of this Agreement.
Sample 1

Related to Time-Vested Performance Equity Award

  • Performance Vesting Within sixty (60) days following the completion of the Performance Period, the Plan Administrator shall determine the applicable number of Performance Shares in accordance with the provisions of the Award Notice and Schedule I attached thereto.

  • Accelerated Vesting of Equity Awards One hundred percent (100%) of Executive’s then-outstanding and unvested Equity Awards will become vested in full. If, however, an outstanding Equity Award is to vest and/or the amount of the award to vest is to be determined based on the achievement of performance criteria, then the Equity Award will vest as to one hundred percent (100%) of the amount of the Equity Award assuming the performance criteria had been achieved at target levels for the relevant performance period(s).

  • Time Vesting Subject to Sections 5(b) and 6 below, the RSUs will vest and become nonforfeitable in accordance with and subject to the vesting schedule set forth on Exhibit A attached hereto, subject to the Participant’s continued status as a Service Provider on the applicable vesting date.

  • Grant of Performance Stock Units Subject to the terms of this Agreement, and the Incentive Plan, effective as of the Grant Date the Participant is hereby granted [Number] Performance Stock Units (the “Target Performance Units”). This Award contains the right to dividend equivalents (“Dividend Equivalents”) with respect to Earned Performance Units (as defined in Section 3(a)) as described in Section 4. Each Performance Stock Unit awarded hereunder shall become earned and vested as described in Section 3 and each Earned Performance Unit (and associated Earned Dividend Equivalents thereon as described in Section 4) shall be settled in accordance with Section 5.

  • Equity Award The Executive will be eligible to receive equity awards, if any, at such times and on such terms and conditions as the Board shall, in its sole discretion, determine.

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

  • Grant of Performance Share Units (a) Subject to the terms and conditions of this Agreement, the Company has granted to the Employee the number of Performance Share Units specified at the beginning of this Agreement (collectively the “Performance Share Units,” and each a “Performance Share Unit.”) Each Performance Share Unit represents the right to receive a Share and dividend equivalent amounts corresponding to the Share, subject to the terms and conditions of this Agreement and the Plan.

  • Vesting of Restricted Stock Units The restrictions and conditions of Section 1 of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule so long as the Grantee remains in a Business Relationship (as defined in Section 3 below) on such Dates. If a series of Vesting Dates is specified, then the restrictions and conditions in Section 1 shall lapse only with respect to the number of Restricted Stock Units specified as vested on such date. Incremental Number of Restricted Stock Units Vested Vesting Date _____________ (___%) ____________ _____________ (___%) ____________ _____________ (___%) ____________ The Administrator may at any time accelerate the vesting schedule specified in this Section 2.

  • Performance Shares The Performance Shares earned by the Grantee will be determined and delivered to the Grantee as soon as practicable subsequent to the determination of the Corporation’s financial results for the Performance Cycle and approval by the Plan Administrator. The corresponding shares of the Corporation’s common stock will be purchased on the open market.

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share Award. 

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