Equity-Based Incentives. The Executive shall be eligible to participate in awards of stock options, restricted stock, deferred stock, stock appreciation rights, and other equity-based incentives (collectively, “Equity-Based Incentives”), at the discretion of the Board or the Compensation Committee. Any performance goals for the grant of such Equity-Based Incentives will be based on objective criteria mutually negotiated and agreed upon in good faith in advance by the Board or the Compensation Committee after consultation with the Executive and the Chief Executive Officer.
Equity-Based Incentives. Executive shall be eligible to receive such equity-based incentive awards from time to time under the Company’s 2006 Equity Incentive Plan, as may be amended from time to time (the “Equity Incentive Plan”), as the Board or the Compensation Committee of the Board determines in its discretion from time to time.
Equity-Based Incentives. (a) The Executive shall be granted, pursuant to the Company's 2003 Long-Term Share Incentive Plan (the "2003 Plan"), subject to the approval of the 2003 Plan by the stockholders of the Company, a "Deferred Stock Grant" (as such term is defined in the 2003 Plan; a "Deferred Stock Grant") with respect to 150,000 shares of the Company's common stock. Such grant shall vest as specified in the resolutions of the Compensation Committee making such grant, and shall otherwise be on the terms and conditions generally applicable to Deferred Stock Grants granted to executive officers of the Company as reasonably determined by the Compensation Committee.
Equity-Based Incentives. (a) On the Effective Date, the Compensation Committee has granted the Executive, pursuant to the Key Energy Group, Inc. 1997 Incentive Plan (the “1997 Plan”), nonqualified stock options for 125,000 shares of Company’s common stock, with the exercise price set as provided under that plan based on the date of grant and with vesting over three years, assuming continued employment. Such grant shall otherwise be on the terms and conditions generally applicable to options as reasonably determined by the Compensation Committee.
Equity-Based Incentives. The Executive shall be eligible for grants of equity awards available to senior executive officers of the Company under the Plan, as the Board or the Compensation Committee of the Board (“Compensation Committee”) may from time to time determine. In addition, the Executive shall be eligible to receive the equity-based incentive bonuses based upon the achievement of specified performance goals set forth in Attachment B (the cash- and equity-based incentive bonuses set forth in Attachment B are collectively referred to herein as the “Performance Bonuses”). Each equity award granted to the Executive shall specify in the applicable award agreement that upon termination of the Executive’s employment for any reason by the Company or by the Executive any unvested portion of the equity awards shall immediately vest.
Equity-Based Incentives. During the Term, the Executive will be eligible to receive grants of equity-based incentives pursuant to the Corporation’s Amended and Restated Incentive Stock Option Plan (the “Option Plan”), Performance Share Unit Plan or other equity-based incentive arrangements (collectively, the “Plans”), each as amended from time to time without advance notice, in accordance with and subject to the terms and conditions of the Plans and as set out herein. The amount and type of the Executive’s equity-based incentive grants for any year, if any, will be determined by the Board in its sole discretion and may change from year to year without advance notice. In respect of the Executive’s services to the Corporation for the first three years following the Start Date and the commencement of the Executive’s employment with the Corporation, the Executive will receive a one-time grant of 2,475,000 stock options under and subject to the Option Plan and the attached form of grant agreement All grants described in this Section are subject to the final approval of the Board, shareholder approval (if applicable), applicable securities legislation and regulatory approval (if applicable), and will be set out in a grant agreement as approved by the Board (or a committee or other person to which the Board has delegated authority), which must be executed to make each grant effective. Notwithstanding any term in a Plan or an applicable grant agreement to the contrary, in order for any equity-based incentives to vest, the Executive must be actively employed (and not have received or given notification of termination of employment for any reason, including whether with or without cause) on the applicable vesting date and unvested awards will be forfeited without any payment or consideration therefor upon cessation of active employment. Copies of the Option Plan and Performance Share Unit Plan and the standard form of grant agreements thereunder have been furnished to the Executive, and the terms and administration of which shall conform to the requirements of Section 409A so that the grants shall not constitute deferred compensation under Section 409A.
Equity-Based Incentives. The Company intends to adopt and maintain an equity compensation plan. The Executive will be eligible for participating in such plan pursuant to the terms and conditions thereof, as determined by the Company’s Board of Directors, and any award granted thereunder will be governed by an award agreement to be entered into separately between the Company and the Executive.
Equity-Based Incentives. The Board may cause the Company to provide Managers, Officers employees or consultants of the Company or its Affiliates with Units or Purchase Rights for Units as equity incentive compensation, which Units shall have all the terms, benefits, rights and preferences as the Board may designate to be applicable to such Units or Purchase Rights. The Board may adopt a plan of equity incentive compensation or may issue such equity incentive compensation outside of any plan. Upon their receipt of Units, whether immediately or pursuant to the exercise of a Purchase Right, such recipient shall be deemed bound by all of the provisions of this Agreement.
Equity-Based Incentives. Executive will receive an initial phantom stock award for a number of hypothetical shares equivalent to 101,010.10 shares of the Company’s common stock (“Initial Award”). For each Incentive Quarter (or portion thereof) that Executive remains employed under this Agreement, Executive will also receive follow-on phantom stock awards for a number of hypothetical shares of Company common stock with a value of $430,000, based on the Company’s closing stock price on the trading day preceding the date of grant, subject to pro-ration if during any Incentive Quarter Executive incurs a Qualifying Termination or his employment terminates 30 days after the date that a new Chief Executive Officer commences employment (“Follow-On Awards,” together with the Initial Award, the “Phantom Stock Awards”). The Phantom Stock Awards shall be subject in all respects to the terms and conditions set forth in the Phantom Stock Award Agreement, in the form attached hereto as Exhibit A. For purposes of the Phantom Stock Awards, “Retirement” means attainment of age 55 and continuous employment until the Scheduled Vesting Date (as defined in the Phantom Stock Award Agreement).
Equity-Based Incentives. The Executive shall be granted during the first week of the next succeeding open trading window following the Closing an initial equity award of restricted stock units (“RSUs”) with a grant date value of $800,000 under the Company’s Amended and Restated Long Term Incentive Plan or other equity-based incentive plan as in effect from time to time (the “Plan”). The number of RSUs to be granted to the Executive shall be equal to the quotient obtained by dividing (i) $800,000 by (ii) the Fair Market Value (as defined in the Plan). Subject to the Executive’s continued employment through the applicable vesting date or as otherwise provided herein, the RSUs shall vest over a three (3) year period with 25% vesting on each of the first and second annual anniversaries of the date of grant and 50% vesting on the third annual anniversary of the date of grant. During the Term, the Executive shall be eligible to receive additional equity grants, on a substantially similar basis as other senior executives of the Company, under the Plan as determined by the Compensation Committee or the Chief Executive Officer, as delegated by the Compensation Committee.
