Common use of Equity Incentive Program Clause in Contracts

Equity Incentive Program. Employee shall be eligible to participate in an equity incentive plan with terms and conditions established by the Board or a committee thereof, and to receive thereunder a “profits-only” interest in the Company, representing one percent (l%) of the total common equity of the Company as of the Effective Date as outlined in Exhibit B, that shall vest in Employee as of the Effective Date, on terms and conditions determined by the Board or a committee thereof.

Equity Incentive Program. Employee shall be eligible to participate in an equity incentive plan with terms and conditions established by the Board or a committee thereof, and to receive thereunder a “profits-only” interest in the Company, representing one percent (l%) of the total common equity of the Company as of the Effective Date as outlined in Exhibit B, that shall vest in Employee as of the Effective Date, on terms and conditions conditions, determined by the Board or a committee thereof.

Equity Incentive Program. Employee shall be eligible to participate in an equity incentive plan with terms and conditions established by the Board or a committee thereof, and to receive thereunder a “profits-only” interest in the Company, representing one six tenths of a percent (l%0.6%) of the total common equity of the Company as of the Effective Date as outlined in Exhibit B, that shall vest in Employee as of the Effective Date, on terms and conditions conditions, determined by the Board or a committee thereof.