Example ContractsClausesEquity Bonus
Equity Bonus
Equity Bonus contract clause examples

Equity Bonus. On or within ten days after the Effective Date the Executive shall receive an equity performance bonus (an “Equity Bonus”) equal to an option to purchase 500,000 shares of Class A common stock, par value $0.01 per share of

Equity Bonus. For each Fiscal Year Executive shall receive an annual equity incentive award in the form of restricted shares (the “Restricted Stock”) of the Company’s common stock, $0.0001 par value per share (“Common Stock”), under the 2017 Incentive Award Plan, as amended (the “2017 Incentive Award Plan”), or a successor plan (the “Equity Bonus”) in the amount of Five Hundred Thousand Dollars ($500,000), based on the grant date value of any such award, provided that the Company achieves the Adjusted Funds From Operations benchmark (as described in # above) for such Fiscal Year as set forth in the Bonus Criteria. Solely in the event that the Company either # exceeds the Bonus Criteria for a particular Fiscal Year, or # does not achieve the Bonus Criteria for a particular Fiscal Year, the Compensation Committee may review the discretionary Equity Bonus on an annual basis and, in its discretion, increase (in the case of (c)(i) of this paragraph) or decrease to as low as zero (in the case of (c)(ii) of this paragraph) the Equity Bonus for that Fiscal Year. Any Equity Bonus earned for each Fiscal Year shall be granted following the completion of the Company’s annual audit but not later than June 30 following the end of such Fiscal Year, but only if Executive remains employed through the end of such Fiscal Year. The Equity Bonus to be paid for any Fiscal Year will be recommended by the Compensation Committee to the Board for its approval. Each Equity Bonus shall vest according to the following schedule: ten percent (10%) shall vest on the date of grant, ten percent (10%) shall vest on the first anniversary of the date of grant, ten percent (10%) shall vest on the second anniversary of the date of grant, ten percent (10%) shall vest on the third anniversary of the date of grant, ten percent (10%) shall vest on the fourth anniversary of the date of grant, ten percent (10%) shall vest on the fifth anniversary of the date of grant, ten percent (10%) shall vest on the sixth anniversary of the date of grant, ten percent (10%) shall vest on the seventh anniversary of the date of grant, ten percent (10%) shall vest on the eighth anniversary of the date of grant, and ten percent (10%) shall vest on the ninth anniversary of the date of grant, in each case provided that the Executive is still employed by the Company. All other terms and conditions applicable to such Equity Bonus shall be determined by the Compensation Committee and, if any such Equity Bonus is granted, such terms and conditions shall be no less favorable than those that apply to similarly situated executive officers of the Company under the 2017 Incentive Award Plan or any successor plan. The aggregate of the Equity Bonus and the Cash Bonus shall be referred to herein as the “Bonus”.

Annual Equity Bonus. Commencing with fiscal year 2019, the Executive shall be eligible to receive, to the extent earned based on individual and corporate performance as determined in the discretion of the Compensation Committee, an annual equity performance bonus (an “Equity Bonus”) for each fiscal year that ends during the Term. The type of award shall be determined by the Compensation Committee in its sole discretion. If awarded, the Equity Bonus shall be granted to the Executive on or prior to March 15 of such following year. Notwithstanding anything in this Agreement, the Compensation Committee may, in its sole discretion, provide for payment of an Equity Bonus in cash as opposed to equity or equity-based compensation, subject to similar vesting conditions. With respect to the 2018 Fiscal Year Grant (defined below) and each Equity Bonus, # the portion of such 2018 Fiscal Year Grant and Equity Bonus that consists of options to purchase Common Stock shall have an exercise price per share of Common Stock equal to the fair market value of one share of Common Stock on the date of grant, as determined by the Compensation Committee in its sole discretion, subject to applicable law and the terms of the vTv 2015 Omnibus Incentive Plan, as the same shall be in effect from time to time (the “vTv Plan”); # subject to the Executive’s continued services hereunder, each such grant will vest and, if applicable, become exercisable with respect to 33.33% of the shares of Common Stock subject thereto on each of the first three anniversaries of the applicable grant date, and # the award will have other customary terms and conditions as are consistent with the vTv Plan and with applicable law.

Annual Equity Bonus. Commencing with fiscal year 2021, the Executive Chairperson shall be eligible to receive, to the extent earned based on individual and corporate performance as determined by the Compensation Committee, an annual equity performance bonus (an “Equity Bonus”) in respect of each fiscal year that ends during the Term. The type of award shall be determined by the Compensation Committee in its sole discretion. Subject to the Executive Chairperson’s continued services through the date of grant, the amount earned in respect of any Equity Bonus shall be determined by the Committee after the end of the fiscal year for which such Equity Bonus is granted and shall be granted to the Executive Chairperson on or prior to March 15 of such following year. Notwithstanding anything in this Agreement, the Committee may, in its sole discretion, provide for payment of the Equity Bonus in cash as opposed to equity or equity-based compensation, subject to similar vesting conditions.

Bonus; Equity Incentives. In addition to the Salary:

Annual Equity Bonus. Commencing with fiscal year 2021, the Executive shall be eligible to receive, to the extent earned based on individual and corporate performance as determined by the Compensation Committee, an annual equity performance bonus (an “Equity Bonus”) in respect of each fiscal year that ends during the Term. The type of award shall be determined by the Compensation Committee in its sole discretion. Subject to the Executive’s continued employment through the date of grant, the amount earned in respect of any Equity Bonus shall be determined by the Compensation Committee after the end of the fiscal year for which such Equity Bonus is granted and shall be granted to the Executive on or prior to March 15 of such following year. Notwithstanding anything in this Agreement, the Compensation Committee may, in its sole discretion, provide for payment of the Equity Bonus in cash as opposed to equity or equity-based compensation, subject to similar vesting conditions. With respect to each Equity Bonus, # with respect to the portion of such Equity Bonus that consists of options to purchase Class A Common Stock, par value $0.01 (the “Common Stock”), the exercise price per share of Common Stock subject thereto will equal the fair market value of one share of Common Stock on the date of grant, as determined by the Compensation Committee in its sole discretion, subject to applicable law and the terms of the vTv 2015 Omnibus Incentive Plan, as the same shall be in effect from time to time (the “vTv Plan”); # subject to the Executive’s continued services hereunder, each such grant will vest and, if applicable, become exercisable with respect to 33.33% of the shares of Common Stock subject thereto on each of the first three anniversaries of the applicable grant date, and # the award will have other

For each full calendar year during the Employment Period, Executive shall be eligible to earn an annual performance bonus of up to one hundred percent (100.0%) of Executive’s Base Salary (the “Performance Bonus”) based on achievement of Performance Bonus criteria as established by the Compensation Committee of the Board (the “Compensation Committee”) and communicated to Executive. For the partial 2018 year, Executive shall be eligible for a Performance Bonus of up to $170,000.00 at target performance, up to $210,000.00 at “outperform” performance, with a minimum non-discretionary Performance Bonus of $100,000.00. Subject to Executive’s continuous employment with the Company through December 31 of the year in which the Performance Bonus is earned, the Performance Bonus shall be paid no later than March 15 of the year following the year for which it is earned.

Equity Grants/Bonus Schemes. In the Board's sole discretion, Executive will be eligible to participate in Employer's ex gratia Bonus Schemes, in accordance with the terms of any ex gratia bonus plan documents, award agreements, and any notices provided by Employer to Executive, including such terms as set forth on the attached [Schedule 1]. The assessment of the eligibility criteria as well as any actual payment under such ex gratia Bonus Schemes will be decided by the Employer in its absolute discretion. Any payment made in a given year shall not create any entitlement to any future payment under the Employer's ex gratia Bonus Schemes. In addition, Executive shall be eligible to receive such other compensation and equity grants after commencing employment with the Employer as set forth on the attached [Schedule 1].

Bonus; Equity Incentives. In addition to the Salary:

Signing Bonus Equity. Subject to approval by the Board or the Compensation Committee by such date that is no later than the next regularly scheduled meeting thereof following your Start Date, you shall be granted $600,000 worth of fully vested common stock of the Company, with the number of shares to be determined by dividing $600,000 by the closing price of a share of Company common stock as reported on the Nasdaq Global Select Market (or any successor exchange upon which the Company’s common stock is traded) on the date you sign this agreement (the "Signing Bonus Stock"). The Signing Bonus Stock shall be subject to the terms and conditions of the Company’s 2019 Stock Option and Incentive Plan (as amended from time to time, the “Plan”) and the applicable stock issuance agreement thereunder, which you shall be required to sign as a condition to receiving your Signing Bonus Stock and which shall reflect the relevant terms set forth in this letter. In the event # your employment is terminated by the Company (or its acquirer or successor) for Cause (as defined below) or # you resign other than for Good Reason (as defined below) or other than as a result of your death or disability, in each case within 24 months following your Start Date, you will promptly pay the Company an amount equal to $600,000, less applicable taxes and withholding on the Signing Bonus Stock, multiplied by a fraction, the numerator of which is equal to the number of months remaining in the two (2) year period as measured from the date of termination, and the denominator of which is equal to 24.

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