Time Inc. Grants Employee Inducement Award Pursuant to NYSE Rule 303A.08
Jennifer
Wong to purchase 85,836 shares of the Company’s common stock with an
exercise price equal to
The Inducement Award will vest in four equal installments beginning on
the first anniversary of the Grant Date and will expire on the tenth
anniversary of the Grant Date. Vesting accelerates if employment
terminates upon death or disability, or if there is a “change in
control” (as defined in the Inducement Award Plan) and within 12 months,
employment is terminated by the Company or because of a resignation for
good reason. However, in the case of a change in control, if the
accelerated amount would be subject to an excise tax under Section 280G
of the Internal Revenue Code, the accelerated amount will be reduced to
the extent this would result in a larger net after tax value. The
described terms, and other terms and conditions are generally consistent
with those in the Company’s 2014 Omnibus Incentive Compensation Plan.
The Company intends to file a Form S-8 relating to the
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