Initial Restricted Stock Grant. You will be awarded restricted shares of Koninklijke Philips Electronics N.V., (“Koninklijke”) common stock (your “Initial Restricted Stock”). The number of shares of Initial Restricted Stock to be awarded to you is stated in the Schedule. The vesting schedule for your Initial Restricted Stock is stated in the Schedule. Your Initial Restricted Stock will be subject to the terms of Global Philips Long-Term Incentive Plan 2007 (the “LTIP”) and to the terms of your award agreement under it.
Initial Restricted Stock Grant. Within 20 days following the Commencement Date, the Company will grant to Executive 14,286 restricted shares of the Company’s common stock (the “Initial Restricted Shares”). The Initial Restricted Shares will be subject to time-based vesting in 12 substantially equal installments, based on Executive’s continued service to the Company for the 12 full calendar quarters following the applicable date of issuance; provided that, if Executive’s employment is terminated by the Company without “Cause” (other than by reason of death or “Disability”) as such term is defined herein, or if Executive resigns within 30 days following a reduction of (i) Executive’s Base Salary, (ii) Executive’s target incentive amount under the Company’s Management Incentive Plan or (iii) the amount of each Performance Based Restricted Share award that Executive is eligible to earn, and Executive timely complies with the conditions set forth herein regarding the execution of a release of claims in favor of the Company, any otherwise unvested Initial Restricted Shares will then vest. The other terms and conditions applicable to such award will be as set forth in the award agreement attached hereto as Exhibit A.
Initial Restricted Stock Grant. Subject to Executive’s compliance with Section 3(e) below, upon the Effective Date, Executive shall be awarded a one time grant (the “Initial Restricted Stock Grant”) of 900 shares of Common Stock, which is the number of shares equal to $900,000 divided by $1,000.00 per share (“Per Share Price”). The Initial Restricted Stock Grant shall vest as follows: (i) one-third (1/3) of the shares subject to the Initial Restricted Stock Grant on the third anniversary of the Effective Date; (ii) one-third (1/3) of the shares subject to the Initial Restricted Stock Grant on the fourth anniversary of the Effective Date and (iii) the remaining one-third (1/3) of the shares subject to the Initial Restricted Stock Grant on the fifth anniversary of the Effective Date. Executive shall receive dividends on unvested shares to the extent such dividends are paid and such shares have not been forfeited. In the event the Executive is terminated with Cause, he shall forfeit all shares subject to the Initial Restricted Stock Grant. The provisions of this Section 3(c) shall be set forth in a management stockholder agreement containing customary restrictions and terms, including but not limited to restrictions on transferability, drag-along rights, tag-along rights and repurchase rights, all of which shall survive any expiration of the Term of this Agreement.
Initial Restricted Stock Grant. Provided that neither the Executive nor Coda Octopus has prior thereto given notice terminating this Agreement, the Executive shall, effective 1 November 2005 be issued 50,000 shares of common stock of Coda Octopus to be distributed quarterly, followed by $50,000 shares of common stock of Coda Octopus annually, from November 1st, 2006. Certificates representing said shares will bear a restrictive legend stating that sale or other transfer of the shares be made only pursuant to an effective registration statement filed with the Securities and Exchange Commission or an exemption from such registration.
Initial Restricted Stock Grant. As of the Effective Date, Employee shall receive a restricted stock grant of 40,000 shares of the Company’s common stock (the “Restricted Stock Award”) in accordance with the terms and conditions of a restricted stock award agreement in the form attached hereto as Exhibit A to be entered into between the Company and Employee dated the Effective Date (the “Restricted Stock Agreement”). The restricted stock included in the Restricted Stock Award shall vest in four equal annual installments on October 1st of each year from 2015 through 2018, subject to accelerated vesting under certain circumstances as specified in the Restricted Stock Agreement. (d)
Initial Restricted Stock Grant. Effective on the Acquisition Date, the Employer shall issue in the name of the Executive a number of matching shares of Company Stock having a value of $500,000 valued at the IPO Price (the "MATCHING GRANTS"). Matching Grants shall be awarded pursuant to the 2005 Plan as restricted stock awards. Any shares of Company Stock issued under this Section 4(a) shall be subject to forfeiture for a period of five years from the date of grant thereof and during such restriction period shall be nontransferable and shall be held by the Employer, as follows:
Initial Restricted Stock Grant. As soon as practicable after the Executive's purchase of shares of common Stock pursuant to Section 6 hereof, the Company shall cause the Executive to be granted a number of shares of Common Stock equal to the number of such shares the Executive has acquired pursuant to Section 6 hereof. The grant shall be pursuant to the terms of, and subject to the restrictions set forth in, a separate stock agreement (the "Initial Restricted Stock Grant") under the Company's Omnibus Stock Incentive Plan. Eighty percent (80%) of the restricted shares subject to the Initial Restricted Stock Grant shall vest upon the attainment of performance goals (the "Performance-Vesting Shares"). Twenty percent (20%) of the restricted shares subject to the Initial Restricted Stock Grant shall vest based upon continued employment (the "Time-Vesting Shares"). This Section 3(c) is not intended to duplicate the Initial Restricted Stock Grant, which shall substantially incorporate the following terms and conditions and the terms and conditions set forth on Exhibit A hereto (Exhibit A's terms and conditions also being incorporated in this Employment Agreement):
Initial Restricted Stock Grant. Executive has been awarded 25,000 “restricted shares” of common shares of CRM as of May 6, 2009. The terms of the grant shall be in accordance with the 2005 CRM Long Term Incentive Plan
Initial Restricted Stock Grant. The Company shall grant the Executive a restricted stock award representing the opportunity to earn a number of shares of Company common stock having a value equal to Four Hundred and Twenty-Five Thousand and No/100 Dollars ($425,000.00) based on the per share closing price of Company common stock as of the Effective Date (or, if Company common stock is not traded on such date, the next trading day following the Effective Date) as reported by the NASDAQ Stock Market. In determining the number of shares of Company common stock subject to the restricted stock award by applying the foregoing formula, the number of shares will be rounded to the nearest one hundred share increment. The restricted stock award will be granted as of the Effective Date (or on the next business day thereafter) and 50% of the restricted stock award will vest ninety (90) days after the grant date and the remaining 50% will vest on the one year anniversary of the grant date if the Executive has previously established his primary and permanent residence in the Little Rock, Arkansas metropolitan area and the Executive remains in the continuous employ of the Employer through such date; provided, however, that the continued employment condition will not be applicable (and the Executive shall become 100% vested in such award) if Executive's incurs a Termination of Employment prior to the one-year anniversary of the grant date due to a Company-initiated Termination of Employment without Cause or the Executive resigns for Good Reason). Such grant will be subject to such other general terms and conditions in the form of award employed by the Employer for grants of this type.
Initial Restricted Stock Grant. (a) Subject to share availability under the Incentive Plan and the terms of this Section 6.1(a), on the first date an Independent Director is initially elected or appointed to the Board, he or she shall receive an award of 5,000 shares of Restricted Stock. Notwithstanding the foregoing, each Independent Director elected or appointed to the Board prior to the date that the Company has issued 12,500,000 Shares in the aggregate from its Offerings (the “Minimum Issuance Date”) shall receive such initial Restricted Stock grant on the last business day of the first full calendar quarter immediately following the Minimum Issuance Date (the “Initial Grant Date”), provided such Independent Director remains an Independent Director as of the Initial Grant Date. Such shares of Restricted Stock shall be subject to the terms and restrictions described below in Section 6.1(b) and shall be in addition to any otherwise applicable annual grant of Restricted Stock granted to such Independent Director under Section 6.2.
