Form of Grant Notice for Restricted Stock Unit Award
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- Stock Agreements
EX-10.7 8 ex107formofgrantnoticeforr.htm EXHIBIT 10.7 Document
EXHIBIT 10.7
GRANT NOTICE
This Notice sets forth the economic terms of a Restricted Stock Unit (“RSU”) Award granted under the First Solar, Inc. 2020 Omnibus Incentive Compensation Plan. This Grant Notice, together with the Restricted Stock Unit Award Agreement Form RSU-014 (the terms of which are incorporated into this Grant Notice by reference), constitute the Award Agreement for this RSU Award.
| Participant: | [●] | ||||||||||
| Participant ID Number | [●] | ||||||||||
| Award Grant Date: | [●] | ||||||||||
| Award Number: | [●] | ||||||||||
| Number of RSUs: | [●] | ||||||||||
| Vesting: | Vesting Date | Vested % of Award | Number of RSUs to Vest | ||||||||
| [Vest date 1] | 20% | [●] | |||||||||
| [Vest date 2] | 20% | [●] | |||||||||
| [Vest date 3] | 20% | [●] | |||||||||
| [Vest date 4] | 20% | [●] | |||||||||
| [Vest date 5] | 20% | [●] | |||||||||
| Vesting Rules: | This Award shall vest on each Vesting Date with respect to the scheduled number of Shares, provided Participant is employed by the Company or an Affiliate on that date. | ||||||||||
| Forfeiture: | The unvested portion of this Award is forfeitable upon Participant’s termination of employment prior to a Vesting Date unless the termination is by reason of death, in which case the Participant’s beneficiary will receive an additional twelve (12) months’ vesting credit. | ||||||||||
| Tax Payment Method: | Withhold Shares | ||||||||||
| Clawback: | Pursuant to Section 9(s) of the Plan, this Award is subject to potential forfeiture or clawback to the fullest extent called for by Company policy or applicable law. By accepting this Award, the Participant agrees to be bound by, and to comply with, the terms of any such forfeiture or clawback provisions, including but not limited to, the terms of the First Solar, Inc. Clawback Policy, or any successor thereto. | ||||||||||
