Document ID: 10557

Text:
(i)If, during the Term, a Qualifying Sale (defined below) occurs at an Enterprise Value (defined below) in excess of $30,000,000 (the THRESHOLD), as determined by the Board, the Corporation shall grant the Executive an award of restricted shares of the same class or classes of securities as to which the Qualifying Sale relates (the RESTRICTED STOCK). Such Restricted Stock grant shall be made after the Corporation receives all requisite corporate approvals, including consent of the Board and stockholders as necessary. The number of shares of Restricted Stock that shall be granted to the Executive shall be calculated by dividing (i) 3% of the difference between the Enterprise Value at the Qualifying Sale and the Threshold, by (ii) the fair market value of an underlying share, as determined by the Board, on the grant date. For illustrative purposes only, if the Qualifying Sale is at an Enterprise Value of $40,000,000 , then the difference would be $10,000,000 , and the Executive would receive a Restricted Stock award valued at $300,000 ( 3% of $10,000,000 ) as of the date of grant. The Restricted Stock shall vest annually in three substantially equal installments, with the first installment vesting on the first anniversary of the date of grant, subject to the Executives continued employment with the Corporation through each such vesting date, provided that the Restricted Stock shall become fully vested upon a Change of Control (as defined in Exhibit B), a termination of employment by the Corporation without Cause (defined below), or a termination of employment by the Executive for Good Reason (defined below). In order to be eligible to receive the award of Restricted Stock, either (i) the Executive must be employed by the Corporation as of the grant date or (ii) the Executives employment must have been terminated by the Corporation without Cause or by the Executive for Good Reason, in either case within six months prior to the Qualifying Sale. The Restricted Stock shall be subject in all respects to the terms and conditions of a restricted stock award agreement in the form provided by the Corporation and the terms and conditions of the Health Benefits Direct Corporation 2010 Equity Compensation Plan (the EQUITY PLAN ), or on terms consistent with those set forth in the Equity Plan if the Restricted Stock cannot be granted under the Equity Plan. The Restricted Stock grant shall be subject in all cases to any securities law requirements and receipt of all Board and stockholder approvals if applicable.

Named Entities:
28
33
Principal
125
126
Percentage
181
186
Principal
193
198
Principal
211
214
Principal
286
288
TerminationDate
385
391
TerminationDate
437
438
Title
451
452
Title

Tokenized Text:
(
i
)
If
,
during
the
Term
,
a
Qualifying
Sale
(
defined
below
)
occurs
at
an
Enterprise
Value
(
defined
below
)
in
excess
of
$
30
,
000
,
000
(
the
THRESHOLD
)
,
as
determined
by
the
Board
,
the
Corporation
shall
grant
the
Executive
an
award
of
restricted
shares
of
the
same
class
or
classes
of
securities
as
to
which
the
Qualifying
Sale
relates
(
the
RESTRICTED
STOCK
)
.
Such
Restricted
Stock
grant
shall
be
made
after
the
Corporation
receives
all
requisite
corporate
approvals
,
including
consent
of
the
Board
and
stockholders
as
necessary
.
The
number
of
shares
of
Restricted
Stock
that
shall
be
granted
to
the
Executive
shall
be
calculated
by
dividing
(
i
)
3
%
of
the
difference
between
the
Enterprise
Value
at
the
Qualifying
Sale
and
the
Threshold
,
by
(
ii
)
the
fair
market
value
of
an
underlying
share
,
as
determined
by
the
Board
,
on
the
grant
date
.
For
illustrative
purposes
only
,
if
the
Qualifying
Sale
is
at
an
Enterprise
Value
of
$
40
,
000
,
000
,
then
the
difference
would
be
$
10
,
000
,
000
,
and
the
Executive
would
receive
a
Restricted
Stock
award
valued
at
$
300
,
000
(
3
%
of
$
10
,
000
,
000
)
as
of
the
date
of
grant
.
The
Restricted
Stock
shall
vest
annually
in
three
substantially
equal
installments
,
with
the
first
installment
vesting
on
the
first
anniversary
of
the
date
of
grant
,
subject
to
the
Executives
continued
employment
with
the
Corporation
through
each
such
vesting
date
,
provided
that
the
Restricted
Stock
shall
become
fully
vested
upon
a
Change
of
Control
(
as
defined
in
Exhibit
B
)
,
a
termination
of
employment
by
the
Corporation
without
Cause
(
defined
below
)
,
or
a
termination
of
employment
by
the
Executive
for
Good
Reason
(
defined
below
)
.
In
order
to
be
eligible
to
receive
the
award
of
Restricted
Stock
,
either
(
i
)
the
Executive
must
be
employed
by
the
Corporation
as
of
the
grant
date
or
(
ii
)
the
Executives
employment
must
have
been
terminated
by
the
Corporation
without
Cause
or
by
the
Executive
for
Good
Reason
,
in
either
case
within
six
months
prior
to
the
Qualifying
Sale
.
The
Restricted
Stock
shall
be
subject
in
all
respects
to
the
terms
and
conditions
of
a
restricted
stock
award
agreement
in
the
form
provided
by
the
Corporation
and
the
terms
and
conditions
of
the
Health
Benefits
Direct
Corporation
2010
Equity
Compensation
Plan
(
the
EQUITY
PLAN
)
,
or
on
terms
consistent
with
those
set
forth
in
the
Equity
Plan
if
the
Restricted
Stock
cannot
be
granted
under
the
Equity
Plan
.
The
Restricted
Stock
grant
shall
be
subject
in
all
cases
to
any
securities
law
requirements
and
receipt
of
all
Board
and
stockholder
approvals
if
applicable
.