Management RSUs definition
Examples of Management RSUs in a sentence
The Company shall take, or cause to be taken, all actions, and do, or cause to be done, all things necessary, proper or advisable to effectuate and carry out the intent of this Section 2.08, including executing and delivering to each Management Holder a customary RSU award agreement under the Company’s equity incentive plan to evidence the grant of the Management RSUs to such Management Holder.
Following the Closing Date, Buyer shall make available additional restricted stock units pursuant to Buyer’s 2017 Omnibus Incentive Compensation Plan with an aggregate value of up to $2,000,000, to be granted to new hires of the Company as mutually agreed upon by the Company and Buyer (“New Hire RSUs” and, together with the Management RSUs, the “Buyer RSUs”).
The Management RSUs granted to the Grantee hereunder shall become vested upon the attainment of the applicable percentage of the specified Adjusted EBITDA Targets as set forth below, provided, except as set forth in Sections 4(c) [and 4(d)] below, that the Grantee is employed by the Company or its Subsidiaries on the first day of the fiscal year following the year in which such Adjusted EBITDA Targets are attained.
The Grantee shall pay to the Company, or make provision satisfactory to the Company for payment of, any taxes required to be withheld by applicable law or regulation in respect of the Management RSUs, as applicable, no later than the date of the event creating the tax liability.
The Management RSUs shall vest in accordance with the attainment of specified Adjusted EBITDA Targets for any fiscal year during the term of this Agreement.
The Management RSUs granted to the Grantee under this Agreement that become vested in accordance with this Section 2 shall constitute “Vested RSUs”.
For the avoidance of doubt, the pro-rata portion of Management RSUs shall be determined by multiplying the number of Earned RSUs by a fraction, the numerator of which shall be the number of days that the Grantee actually was employed by the Company or any Subsidiary during such fiscal year and the denominator of which shall be 365.
The Company hereby grants to the Grantee [ ] Management RSUs pursuant to the Plan, subject to the terms and conditions of this Agreement and the Plan.
All Management RSUs granted to the Grantee under this Agreement that have not become vested shall constitute “Unvested RSUs”.
For the avoidance of doubt, the Management RSUs shall only vest in accordance with Sections 2(a), 4(c) [and 4(d)] hereof, in each case, as applicable.