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Further, in first quarter of 2022, it will be recommended to the Board or the Committee that you be granted restricted stock units under the 2021 Plan covering a numbers of shares with a value of $5,278,700, rounded down to the nearest share (the 2022 RSUs). For purposes of the 2022 RSUs, value means the average of the closing price per share of ForgeRocks common stock for the 30-trading day period ending on the date of grant. The 2022 RSUs will vest with a one-year cliff, and quarterly thereafter over approximately four years with vesting occurring on ForgeRocks standard quarterly vesting date.
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You will continue to be eligible to receive additional equity awards pursuant to any plans or arrangements ForgeRock may have in effect from time to time. The Board or Committee, as applicable, will determine in its sole discretion whether you will be granted any such equity awards and the terms of any such award in accordance with the terms of any applicable plan or arrangement that may be in effect from time to time. Your equity awards outstanding as of the Effective Date will continue in effect on their existing terms.
5. Employee Benefits. You will continue to be eligible to participate in the benefit plans and programs established by ForgeRock for its employees from time to time, subject to their applicable terms and conditions, including without limitation any eligibility requirements. ForgeRock reserves the right to modify, amend, suspend or terminate the benefit plans and programs it offers to its employees at any time.
6. Severance. You are a participant in ForgeRocks Change in Control and Severance Policy (the CIC/Severance Policy). The CIC/Severance Policy and the participation agreement under the CIC/Severance Policy that you signed specify the severance payments and benefits you may become entitled to receive in connection with certain qualifying terminations of your employment with ForgeRock.
7. Confidentiality Agreement. The employment relationship between you and the company will also be governed by ForgeRocks general employment policies and practices, which may be in effect from time to time, including those relating to protection of confidential information and assignment of inventions, except that when the terms of this letter differ from or are in conflict with ForgeRocks general employment practices or policies, this letter will control. ForgeRock has a firm policy against its employees using any trade secrets or other proprietary information of third parties in the course of performing their duties for the company. During your employment with ForgeRock, you may not disclose to ForgeRock or use, or induce ForgeRock to use, any trade secrets or other proprietary information of others, including your prior employer. To protect the interests of ForgeRock, your acceptance of this Agreement confirms that the terms of the At-Will Employment, Confidential Information, Invention Assignment, and Arbitration Agreement you previously signed with ForgeRock (the Confidentiality Agreement) still applies.
8. At-Will Employment. ForgeRock is an at-will employer. That means that both you and the company have the right to terminate your employment at any time, with or without advance notice, and for any reason, with or without cause, or for no reason at all. Likewise, the terms of your employment may be altered at any time (including changes in your duties, changes in your
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