Annual Awards. Each year, the Executive will be eligible for annual awards of stock options and or restricted stock units as determined by the Board. Nothing herein shall be construed as an obligation to grant such awards, which shall be subject to the sole discretion of the Board.
Annual Awards. In addition to the Base Salary, Employee shall be eligible to receive Annual Awards in an amount equal to a target of 130% of the Employee’s Base Salary in effect for the Performance Period with respect to which such Annual Award is granted, as established pursuant to the terms of the Company’s Executive Incentive Plan, as amended (the “Executive Incentive Plan”). The Annual Award shall be based on the achievement of such Performance Goals as are established by the Compensation Committee of the Board of Directors pursuant to the Executive Incentive Plan. The achievement of said Performance Goals shall be determined by the Compensation Committee of the Board of Directors. Except as otherwise provided in Sections 3 and 25, with respect to any Fiscal Year during which Employee is employed by the Company for less than the entire Fiscal Year, the Annual Award shall be prorated for the period during which Employee was so employed. The Annual Award shall be payable within sixty (60) days after the end of the Company’s Fiscal Year. To the extent of any conflict between the provisions of this Agreement and the Executive Incentive Plan, the terms of this Agreement shall control.
Annual Awards. For each calendar year during the Term, Executive shall be eligible to receive a Performance Share Award and/or a Restricted Stock Unit Award under the Meritage Homes Corporation 2018 Stock Incentive Plan, or any successor thereto (the “Stock Incentive Plan”), subject to the achievement of certain performance goals as may be established by the Compensation Committee pursuant to the Stock Incentive Plan and other terms and conditions, as set forth in Exhibit D and Exhibit E (each, an “Annual Award”). The Annual Awards shall be made on terms and conditions that are consistent with those on which awards are made to other executive officers of the Company, except as the Compensation Committee may otherwise specify in its sole discretion. Except as otherwise provided herein, each Annual Award will be subject to the terms of the Stock Incentive Plan and the individual award agreement pursuant to which it is made.
Annual Awards. In addition to the Base Salary and/or Adjusted Salary, Employee shall be eligible to receive Annual Awards in an amount equal to 60 % of the Employee’s Base Salary in effect for the Performance Period with respect to which such Annual Award is granted, as established pursuant to the terms of the Company’s Executive Incentive Plan, as amended, restated and renamed effective as of January 1, 2003 (the “Plan”). The Annual Award shall be based on the achievement of such Performance Goals as are established by the Compensation Committee of the Board of Directors pursuant to the Plan. The achievement of said Performance Goals shall be determined by the Compensation Committee of the Board of Directors. Except as otherwise provided in Sections 3(d), 3(e) and 22, with respect to any Fiscal Year during which Employee is employed by the Company for less than the entire Fiscal Year, the Annual Award shall be prorated for the period during which Employee was so employed. The Annual Award shall be payable within sixty (60) days after the end of the Company’s Fiscal Year. To the extent of any conflict between the provisions of this Agreement and the Plan, the terms of this Agreement shall control.
Annual Awards. The annual stock option and Performance-Based Restricted Share awards discussed in paragraphs B and C, above (the “Annual Awards”) shall be made on terms and conditions that are consistent with those on which awards are made to other senior executive officers of the Company, except as the Compensation Committee may otherwise specify in its sole discretion. Except as otherwise provided herein, each Annual Award will be subject to the terms of the Stock Plan (or any successor thereto) and the individual award agreement pursuant to which it is made.
Annual Awards. For each calendar year during the Term, Executive shall be eligible to receive a (x) Performance Share Award and/or Restricted Stock Unit Award under the 2006 Stock Plan (or any successor thereto), subject to the achievement of certain performance goals established by the Compensation Committee pursuant to the 2006 Stock Plan and other terms and conditions, as set forth in Exhibit D, and a (y) Restricted Stock Unit Award under the 2006 Stock Plan, subject to a separate performance goal and other terms and conditions, as set forth in Exhibit E (each, an “Annual Award”). The Annual Awards shall be made on terms and conditions that are consistent with those on which awards are made to other executive officers of the Company, except as the Compensation Committee may otherwise specify in its sole discretion. Except as otherwise provided herein, each Annual Award will be subject to the terms of the 2006 Plan (or any successor thereto) and the individual award agreement pursuant to which it is made.
Annual Awards. Beginning with the Company’s 2020 fiscal year and during the Employment Term, Executive will be eligible to participate in the UL Inc. Long- Term Incentive Plan (as such plan or any successor plan thereto is then in effect, the “LTIP”). For the Company’s 2020 fiscal year, Executive will be granted an award under the LTIP with an aggregate target grant value of $3,300,000, the form and other terms of which shall be determined by the Committee in its sole discretion consistent with grants at such time to other senior executives; provided, however, that the Company shall not be obligated to make such grant if the Employment Term has ended on or prior to the time that awards under the LTIP for the Company’s 2020 fiscal year are granted to other employees. The form, terms and value of awards granted for the Company’s 2021 fiscal year and thereafter will be determined annually by the Committee in its sole discretion consistent with Company policy based on market practice, any Company financial constraints, performance and any other factors determined to be relevant by the Committee. The Committee will have discretion to set or change thresholds, targets, requisite performance goals and eligibility requirements in its sole discretion respecting any awards granted under the LTIP.
Annual Awards. The Company shall adopt, and Executive shall receive, awards from time to time as determined by the Committee under the Company’s 2005 Omnibus Long-Term Incentive Plan or other comparable equity arrangement (“Long Term Incentive Plan”). Other than the IPO Award (as defined below), any restricted stock grants awarded to the Executive under the Long-Term Incentive Plan shall vest in four (4) equal installments commencing on the first anniversary of the date of grant and on the succeeding three anniversaries thereof, unless a different schedule is mutually agreed to by the Company and the Executive.
Annual Awards. For the Fiscal Year 2023, the annual equity-based compensation award target opportunity under the Share Incentive Plan shall be of a value at the time of grant of no less than $1,775,000. Annual grants will be made based on the assessment of your performance (subject to the appropriate grant date approvals). Thereafter, the equity-based compensation target opportunity shall be reviewed by the Compensation Committee for adjustment, as appropriate, in accordance with regular policies of the Company in effect from time to time, subject to the terms and conditions of the Share Incentive Plan. The number of underlying shares granted will be determined in accordance with procedures generally utilized by the Company for its financial reporting at the time of grant; provided, however, at no time shall the aggregate grants during a fiscal year exceed or be in respect of more than the equivalent of 59,167 full-value shares of Class A Common Stock (not taking into account any stock splits or similar capitalization events). For purposes of this calculation, shares underlying performance share units and other performance-based awards shall be at target performance, which means that above-target performance payouts on performance share units or any other form of performance-based awards shall not be subject to this limitation. (c)
Annual Awards. Executive will be granted stock awards or stock units for 35,000 shares on each of January 1, 2006 and the next four anniversaries of that date; provided, however, that if Executive's employment is terminated by the Company without Cause or by Executive for Good Reason, or as a result of Executive's death or Disability (all as defined below), Executive will receive a prorated portion of the relevant annual award as of the date Executive's employment is terminated;
