Initial Equity Award definition

Initial Equity Award means stock options, stock awards, restricted stock, restricted stock units, stock appreciation rights, or other awards based on or derived from the Stock which are authorized under this Plan for award to Non-Employee Directors under Section 6.1 of the Plan.

Initial Equity Award means a one-time award of restricted stock units granted to a Non-Employee Director of Illumina upon first joining the Board of Directors. Initial Equity Awards vest over four years with 25% vesting annually on the anniversary of the grant date, provided that the Non-Employee Director continues to be a director on such date.

Initial Equity Award. On your Start Date you will be granted that number of restricted stock units equal to $1,000,000, divided by the trailing 5 day average of the closing prices of the Company’s common stock ending on the Start Date (the “Initial RSU Award”). The Initial RSU Award will vest, subject to your continued service with the Company over three years, with 50% vesting on the first anniversary of your Start Date and 25% on each of the following two anniversaries. All other terms of the Initial RSU Award will be consistent with the Company’s standard restricted stock unit award agreement used for making its annual long-term incentive grants. Legal, Financial & Tax Planning Assistance Accuride will reimburse you for reasonable and agreed upon legal fees incurred by you in connection with your seeking bonuses earned for 2010 from your prior employer. In addition, Accuride will reimburse you up to $15,000 for reasonable legal fees and other expenses incurred by you in connection with this letter agreement and all other agreements referenced herein. All such reimbursements shall be made in accordance with the Company’s normal expense reimbursement policies upon submission of proper documentation. You agree to timely submit such expenses for reimbursement and, if timely submitted, reimbursement payments shall be made as soon as administratively practicable following such submission, but in no event later than December 31st of the calendar year following the calendar year in which the expense was incurred. In no event shall you be entitled to any reimbursement payments after December 31st of the calendar year following the calendar year in which the expense was incurred.

Examples of Initial Equity Award in a sentence

• The Initial Equity Award shall be subject to the terms of the Red Rock Resorts, Inc.

• The Initial Equity Award is set forth in Schedule I, as amended from time to time by the Board.

• Upon termination of a Non-Employee Director’s membership on the Board for any reason (including without limitation, by reason of death, Disability, retirement or failure to be re-nominated or re-elected as a director), the Non-Employee Director shall forfeit all of his or her right, title and interest in and to any unvested portion of the Initial Equity Award or Annual Equity Award, as the case may be.

• The vesting of each Initial Equity Award is subject to Executive’s continued employment through the applicable vesting dates, and is subject to accelerated vesting in certain circumstances pursuant to Article 6 below.

• Such Initial Equity Award shall be subject to the terms and restrictions described in Schedule I and below in this Article 6.

• The Initial Equity Award shall be granted on the date on which such Eligible Director is appointed or elected to serve on the Board, and shall vest in full on the earlier to occur of (i) the one-year anniversary of the applicable grant date and (ii) the date of the next Annual Meeting following the grant date, subject to such Eligible Director’s continued service through the applicable vesting date.

• Such termination shall have the same consequences as a termination without Cause under Section 6.4. For the avoidance of doubt, in addition to the provisions set forth in Section 6.4, any unvested Initial Equity Award granted under Section 3.4 as well as any unvested awards granted under Section 3.4 during Term of Employment shall immediately vest upon the termination date to the extent required under the terms of the Red Rock Resorts, Inc.

• Subject to share availability under the LTIP, on the first date a Non-Employee Director is initially elected or appointed to the Board, he or she shall be granted an Initial Equity Award.

• The Initial Equity Award will be subject to the terms of the Plan and the applicable award agreement thereunder.

• The Initial Equity Award will be subject to the terms of the Plan and the applicable award agreement thereunder; provided that such award agreement shall have terms and conditions for Executive that are equivalent to those set forth in the award agreement for the Company’s Chief Executive Officer.

More Definitions of Initial Equity Award

Initial Equity Award means the combined award of (i) restricted stock units granted to Executive upon the commencement of his employment and (ii) the additional 50,000 restricted stock units to be granted to Executive on June 2, 2014, if Executive is still employed with the Company as of such date, or as otherwise approved by the Board of Directors.