Document ID: 11861

Text:
award (the Initial LTIP Award) equal to FIVE MILLION AND 00/100 DOLLARS ($5,000,000.00) of Common Stock. The number of shares of Common Stock shall be determined by dividing $5,000,000.00 by the closing price per share on the Effective Date. Fifty percent ( 50% ) of the Initial LTIP Award shall fully vest and become non-forfeitable on the fifth (5th) anniversary of the grant date of such award (the First Vesting Tranche), and the remaining fifty percent (50%) of the Initial LTIP Award shall fully vest and become non-forfeitable on the tenth (10th) anniversary of such grant date (the Second Vesting Tranche), in each case, subject to the Executive continuing to be an employee of the Company through each vesting date. The Initial LTIP Award shall be subject to the terms and conditions of the Incentive Plan and The Howard Hughes Corporation Restricted Stock Agreement, substantially in the form attached hereto as ExhibitA.

Named Entities:
17
24
Principal
64
65
Percentage
105
106
Percentage

Tokenized Text:
award
(
the
Initial
LTIP
Award
)
equal
to
FIVE
MILLION
AND
00
/
100
DOLLARS
(
$
5
,
000
,
000
.
00
)
of
Common
Stock
.
The
number
of
shares
of
Common
Stock
shall
be
determined
by
dividing
$
5
,
000
,
000
.
00
by
the
closing
price
per
share
on
the
Effective
Date
.
Fifty
percent
(
50
%
)
of
the
Initial
LTIP
Award
shall
fully
vest
and
become
non-forfeitable
on
the
fifth
(
5th
)
anniversary
of
the
grant
date
of
such
award
(
the
First
Vesting
Tranche
)
,
and
the
remaining
fifty
percent
(
50
%
)
of
the
Initial
LTIP
Award
shall
fully
vest
and
become
non-forfeitable
on
the
tenth
(
10th
)
anniversary
of
such
grant
date
(
the
Second
Vesting
Tranche
)
,
in
each
case
,
subject
to
the
Executive
continuing
to
be
an
employee
of
the
Company
through
each
vesting
date
.
The
Initial
LTIP
Award
shall
be
subject
to
the
terms
and
conditions
of
the
Incentive
Plan
and
The
Howard
Hughes
Corporation
Restricted
Stock
Agreement
,
substantially
in
the
form
attached
hereto
as
ExhibitA
.