Common use of Performance Incentive Plan Clause in Contracts

Performance Incentive Plan. Employee will be eligible to receive long-term equity incentive awards to be granted from time to time by Verso, in its sole discretion, under the Verso Performance Incentive Plan or any successor long-term equity incentive award plan (collectively, the “LTIP”) in accordance with the provisions thereof. Upon or near the time of Employee’s entry into this Agreement with Verso, Employee will receive an award of restricted stock units under the LTIP having a value of $81,520 (i.e., the difference between $250,000 and Employee’s previous LTIP award for 2020 valued at $168,480) on its grant date).

Performance Incentive Plan. Employee will be eligible to receive long-term equity incentive awards to be granted from time to time by Verso, in its sole discretion, under the Verso Performance Incentive Plan or any successor long-term equity incentive award plan (collectively, the “"LTIP”") in accordance with the provisions thereof. Upon or near the time of Employee’s 's entry into this Agreement with Verso, Employee will receive an award of restricted stock units under the LTIP having a value of $81,520 177,694 (i.e., the difference between $250,000 and Employee’s 's previous LTIP award for 2020 valued at $168,48072,306) on its grant date).