Annual RSU Award. Effective as of March 31, 2017 (the “Grant Date”), Executive shall be awarded restricted stock units (“RSUs”) with a value as of the Grant Date of $300,000 (the “Annual RSU Award”). Subject to continued employment, the Annual RSU Award will vest in equal installments semi-annually over three years, with the first such vest occurring on October 1, 2017, and the remaining installments vesting every six months thereafter. The RSU Award will otherwise be subject to the Company’s then standard terms and conditions for executive RSU awards, except as otherwise provided in this Agreement or in the XXXX.
Annual RSU Award. In addition to his Base Salary and targeted annual incentive bonus opportunity under Section 2.2(a) above, the Executive shall each calendar year also be eligible to receive an annual RSU based upon achievement of performance goals of the Executive and corporate achievements of the Employer, as determined in the sole discretion of the Compensation Committee (upon consultation with a compensation consultant). The performance goals, may or may not be the same as the performance goals established in connection with Section 2.2(a) above. The target payout to be between 0 - 275% of Base Salary which can been amended up or down by the Compensation Committee based on the performance goals, and will be settled upon the issuance of additional RSU’s to the Executive at the same time as the incentive bonus. The number of RSUs granted on each award date shall equal the number of shares of common stock of the Employer that have a Fair Market Value on the date of grant equal to that percentage of Base Salary resulting from the Committee’s determination of the annual performance goals. The RSUs shall be subject to the terms of a Restricted Stock Unit Agreement granted under and subject to the Plan, except, in all events, such RSUs shall vest immediately and automatically at the grant date. However, Employer shall not be able to sell, transfer, or otherwise dispose of the resulting sharesbefore the second anniversary of the Effective Date, except upon: (a) Executive’s death; (b) termination of the Executive’s employment on account of Disability; (c) termination by Employer other than For Cause; (d) termination by the Employer for Cause; (e) termination by the Executive Without Good Reason; (f) termination by the Executive for Good Reason; (g) Change of Control, and (h) as the share restrictive legend requires by law.
Annual RSU Award. Commencing with the 2024 calendar year, and in lieu of an annual base salary, in the first quarter of each calendar year of your employment with the Company the Committee shall approve the grant to you of restricted stock units (“RSUs”) with a dollar-denominated value equal to $800,000 (the “Annual RSU Award”). The RSUs subject to each Annual RSU Award will vest in four equal installments on the last day of each calendar quarter of the applicable calendar year in which such Annual RSU Award is granted. The value of the Annual RSU Award shall be reviewed annually by the Committee and may be increased or decreased from time to time by the Committee in its sole discretion.
Annual RSU Award. The following new Section 4A shall be added immediately after Section 4 of each of the Partner Agreements:
Annual RSU Award. The Employee is eligible to an annual RSU award, amounting to maximum the equivalent to CHF 150’000, the exact amount determined by the Board of AgEagle Aerial Systems Inc. in its good faith discretion. Such grant of RSUs shall be subject to the terms of an RSU grant agreement with AgEagle Aerial Systems Inc. and, at AgEagle Aerial Systems Inc.’s election, either subject to, or not subject to, the 2017 Omnibus Equity Incentive Plan of AgEagle Aerial Systems Inc. (the “Equity Plan”). Such goals for a given calendar year will be established by the Chief Executive Officer and the Board of AgEagle Aerial Systems Inc, in consultation with the Employee. The RSU bonus is subject to the Employee’s continued employment with the Company through the end of the calendar year for which the bonus is being paid. AgEagle - Mxxxxxx X'Xxxxxxxx_Xxxxxxxxxx Agreement_03.31.2022
Annual RSU Award. In addition to his Base Salary and targeted annual incentive bonus opportunity, the Employee shall each calendar year also be eligible to receive an annual RSU based upon achievement of performance goals of the Executive and corporate achievements of the Employer, as determined in the sole discretion of the Compensation Committee (upon consultation with a compensation consultant). The performance goals, may or may not be the same as the performance goals established in connection with Section 2.2 above. The target payout to be between 0 - 275% of Base Salary which can been amended up or down by the Compensation Committee based on the performance goals, and will be settled upon the issuance of additional RSU’s to the Executive at the same time as the incentive bonus. The number of RSUs granted on each award date shall equal the number of shares of common stock of the Employer that have a Fair Market Value on the date of grant equal to that percentage of Base Salary resulting from the Committee’s determination of the annual performance goals. The RSUs shall be subject to the terms of a Restricted Stock Unit Agreement, except, in all events, such RSUs shall vest immediately and automatically at the grant date. However, Employee shall have the right to waive and renounce such RSUs at any time.
Annual RSU Award. The following new Section 5C shall be added immediately after Section 5B of each of the 2017 Partner Agreements:
Annual RSU Award. (a) The Limited Partner during the Term and thereafter will conditionally receive the Unit Percentage of such Performance Award Amount in respect of an Annual RSU Award made by OZM to the Limited Partner on or about January 31 of the following Fiscal Year of a
Annual RSU Award. During the Term, the Company shall grant Executive annually, on or before each October 31st following the end of the Company’s fiscal year, a restricted stock unit award consisting of that number of units having an aggregate grant date fair market value of not less than $750,000 (the “Threshold Value”) and, unless the Committee determines otherwise, not greater than $900,000, with the actual dollar amount of the award to be determined by the Committee in its sole discretion within the parameters set forth above (each such restricted stock unit award, an “Annual RSU Award”). Each Annual RSU Award will vest and thereby become non-forfeitable on the earlier of (i) the second anniversary of the grant date of such Annual RSU Award or (ii) a termination of Executive’s services hereunder by the Company without Cause (as defined below) or due to Disability (as defined below), by Executive for Good Reason (as defined below) or due to Retirement (as defined below), or due to Executive’s death (each, a “Qualifying Termination”); provided, however, that no vested units subject to an Annual RSU Award shall be settled in shares of Company common stock prior to the earliest of (A) the second anniversary of the grant date of the applicable Annual RSU Award, (B) that date which is six months after the date on which Executive experiences a “Separation from Service” as defined in regulations under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) or if earlier, the date of Executive’ death, or (C) the date on which the Company experiences a “change in control event” as defined in regulations under Section 409A of the Code. Each Annual RSU Award shall be evidenced by a Restricted Stock Unit Award Agreement substantially in the form attached hereto as Exhibit A.
