Equity Compensation Programs. During the Term of Employment, the Executive shall be entitled to participate in any equity-based plans, programs or arrangements applicable to senior-level executives as established and modified from time to time by the Chief Executive Officer or the Board in their sole discretion, to the extent that the Executive is eligible under (and subject to the provisions of) the plan documents governing those programs.
Equity Compensation Programs. During the Term of Employment, the Executive shall be entitled to participate in any equity-based plans, programs or arrangements applicable to senior-level executives as established and modified from time to time by the Chief Executive Officer or the Board in their sole discretion, to the extent that the Executive is eligible under (and subject to the provisions of) the plan documents governing those programs. Subject to approval by the Compensation Committee, the Executive will be granted stock options for two hundred thousand (200,000) shares, subject to the provisions of Tier’s Incentive Stock Option Plan. Options are typically issued during the first week of the calendar quarter following the date of hire and are priced according to the market price at close of business on the last business day prior to the date of the grant. Options vest over four years with 25% of the total grant vesting after completion of each 12-month period from the original date of issuance. The option grant agreement and related documentation will be sent to the Executive within 30 days following the grant date.
Equity Compensation Programs. During the term of employment, the Executive shall be eligible to participate in the Company’s equity incentive compensation programs applicable to the Company’s senior executives, as such programs may be established and modified from time to time by the Board or the Compensation Committee in its sole discretion. Nothing in this Agreement shall preclude the Company from amending or terminating any of its equity incentive compensation plans, programs or arrangements. During the first quarter of 2021, at the time annual equity awards are granted to executives of the Company generally, and provided that the Executive remains employed on the date equity awards are granted, the Executive will be granted equity incentive awards with an aggregate target grant date fair value of $11,000,000 (the “2021 Awards”). The components of the 2021 Awards and the number of shares granted with respect to each component of the 2021 Awards will be determined in accordance with the then applicable methodology used to grant equity incentive awards for senior management generally. The 2021 Awards will be subject to the terms of the Company’s equity plan and the award agreements evidencing such awards.
Equity Compensation Programs. During the Term of Employment, the Executive shall be entitled to participate in any equity-based plans, programs or arrangements applicable to senior-level executives as established and modified from time to time by the Chief Executive Officer or the Board in their sole discretion, to the extent that the Executive is eligible under (and subject to the provisions of) the plan documents governing those programs. In addition, subject to approval by the Compensation Committee, the Executive will be granted stock options for two hundred thousand (200,000) shares, subject to the provisions of Tier’s Incentive Stock Option Plan. Options will be issued following the date of hire and are priced according to the market price at close of business on the last business day prior to the date of the grant. Options vest over three years with 33.33 % of the total grant vesting after completion of each 12-month period from the original date of issuance, with all options vested in accordance with the above schedule no later than June 30, 2011. The option grant agreement and related documentation will be sent to the Executive within 30 days following the grant date.
Equity Compensation Programs. During the term of employment, the Executive shall be eligible to participate in the Company’s equity incentive compensation programs applicable to the Company’s senior executives, as such programs may be established and modified from time to time by the Board or the Compensation Committee in its sole discretion. Nothing in this Agreement shall preclude the Company from amending or terminating any of its equity incentive compensation plans, programs or arrangements.
Equity Compensation Programs. During the Term of Employment, the Executive shall be entitled to participate in any equity-based plans, programs or arrangements applicable to executives of such level as established and modified from time to time by the Chief Executive Officer or the Board in their sole discretion, to the extent that the Executive is eligible under (and subject to the provisions of) the plan documents governing those programs. Subject to approval by the Compensation Committee, the Executive will be granted stock options for eighty thousand (80,000) shares, subject to the provisions of Tier’s Incentive Stock Option Plan. Options will be isued following the date of hire and are priced according to the market price at close of business on the last business day prior to the date of the grant. Options vest over four years with 25% of the total grant vesting after completion of each 12-month period from the original date of issuance. The option grant agreement and related documentation will be sent to the Executive within 30 days following the grant date.
Equity Compensation Programs
