Onboarding Equity Award. On or as soon as practicable after the Employment Date, Employee shall be granted an equity award under the Company’s Stock Award Plan having an aggregate value of $435,750 and consisting of # 50% time-vested restricted stock and # 50% performance-vested restricted units. The foregoing award shall contain terms substantially similar to the annual equity awards provided to executives under the LTIP in February 2018 for performance during 2017.
Onboarding Compensation. On or as soon as practicable after the Effective Date, Employee shall be granted an equity award under the Company’s Stock Award Plan having an aggregate value of $500,000 and consisting of # 50% time-vested restricted stock and # 50% performance-vested restricted units. The foregoing award shall contain terms substantially similar to the annual equity awards provided to executives under the LTIP in February 2020 for performance during 2019. In addition, Employee shall receive a sign-on bonus in the amount of $50,000, less applicable withholdings, which shall be paid within thirty (30) days after the Effective Date.
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