(6) Share and Equity-based Compensation

2006 Management Incentive Plan and 2007 Employee Incentive Plan

Upon completion of the IPO, the shares reserved for issuance under the 2006 Management Incentive Plan (MIP) and 2007 Employee Incentive Plan (EIP) that were not issued or subject to outstanding grants became available under the 2011 Omnibus Incentive Plan, as defined and discussed below, and no further awards will be made under the MIP or EIP. (Refer to Note 6, "Employee Benefit and Incentive Plans," to our consolidated financial statements in our December 31, 2010 Annual Report Form on 10-K/A for further information on the MIP and EIP.)

2011 Omnibus Incentive Plan

In connection with the completion of the IPO, we adopted a new share-based compensation plan referred to as the 2011 Omnibus Incentive Plan (the "2011 Plan"). The purpose of the 2011 Plan is to provide additional incentive to selected management, employees, directors, independent contractors and consultants of the Company in order to strengthen their commitment to the Company. The 2011 Plan permits the grant of incentive awards to employees, non-employee directors, and consultants or independent contractors, as selected by the administrator. The 2011 Plan authorizes the granting of awards to employees in the following forms:

 

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options to purchase common shares, intended to be nonqualified stock options;

 

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share appreciation rights, which give the holder the right to receive the difference (payable in cash, shares or a combination of cash and shares) between the fair market value per share on the date of exercise over the base price of the award (which cannot be less than the fair market value of the underlying shares as of the grant date);

 

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restricted shares, which are shares subject to restrictions on transferability and subject to forfeiture on terms set by the administrator;

 

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deferred shares, which represent the right to receive shares at the end of a specified deferral period and/or upon the attainment of specified performance objectives;

 

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performance shares, which are shares subject to restrictions that lapse upon the attainment of specified performance goals;

 

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other share-based awards, which may include restricted share units or performance units (representing the right to receive shares at a designated time in the future), or dividend equivalents (representing the right to receive a payment equal to the cash dividends paid with respect to a share), each of which may be subject to terms and conditions including the attainment of performance goals or a period of continued employment; and

 

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cash-based awards, which may include awards of restricted cash or cash awarded on the attainment of performance goals.

The number of shares reserved and available for issuance under the 2011 Plan is 22 million shares. In the event that any outstanding award under the 2011 Plan or any award outstanding under the MIP or the EIP at the time of the IPO is forfeited for any reason, terminates, expires or lapses, any shares subject to such award will be available for issuance under the 2011 Plan. As of September 30, 2011 awards for 54 thousand common shares have been granted under this plan.