Annual Equity Grant Contract Clauses (16)

Annual Equity Grant. Each fiscal year of the Company, (i) 50% of each Participant's Aggregate Target Value shall be granted as an annual award (the "Annual LTIP RSA Award") in the form of restricted shares of Common Stock with time-based vesting requirements (the "LTIP RSAs") and (ii) 50% of each Participant's Aggregate Target Value shall be granted as an annual award (the "Annual LTIP PSU Award") in the form of restricted stock units with performance-based vesting requirements (the "LTIP PSUs").

Annual Equity Grant. (a) Effective as of the annual meeting of the Company's stockholders, each Participant will be granted a number of RSUs determined by dividing $140,000 by the Fair Market Value of a share of Common Stock on the date of grant. RSUs granted under this Section 2 are hereinafter referred to as "Annual Units." Annual Units will be granted pursuant to, and subject to the terms of, the Stock Plan. (b) Annual Units will vest in full on the earliest of (i) the first anniversary of the date of grant, (ii)... a Change in Control, and (iii) the Participant's Separation from Service as a result of his or her death or Disability; provided in each case that the Participant has remained in Service through the applicable time. Any portion of a Participant's Annual Units that have not vested on or prior to his or her Separation from Service will then be forfeited and all rights of the Participant to or with respect to such Annual Units will then automatically terminate.3. Dividend Equivalent Rights. If a cash dividend or distribution is paid with respect to outstanding shares of Common Stock, then effective as of the dividend or distribution payment date, each outstanding award of Retainer Units and Annual Units (including any additional Retainer Units and Annual Units previously credited pursuant to this Section 3) will be increased by a number of additional Retainer Units or Annual Units, as applicable, equal to the quotient of (i) the total dividend or distribution that would then be payable with respect to a number of shares of Common Stock equal to the number of Retainer Units or Annual Units, as applicable, held by the Participant on the dividend or distribution record date divided by (ii) the Fair Market Value of a share of Common Stock on the dividend or distribution record date (the "Dividend Exhibit 10.2Equivalent Rights"). The Dividend Equivalent Rights will be subject to the same vesting conditions as the Retainer Units or Annual Units to which they relate. View More