Deferral Election Form for Performance-Based Restricted Share Units with Time Vesting ([Grant Year])

Summary

This agreement allows an employee to choose when to receive their performance-based restricted share units granted in a specific year. The employee can defer receipt of vested shares to a future date, up to ten years after vesting, or after employment ends due to resignation, disability, or death, within specified time frames. Some elections are irrevocable, and changes to deferral dates are only allowed under certain conditions. The form requires the employee’s signature for each election.

EX-10.5 6 ex10-5_012805.txt FRM OF DEFL. ELE. REST. SHR. UNITS W TIME VSTG. Exhibit 10.5 FORM OF DEFERRAL ELECTIONS FOR [GRANT YEAR] - ------------------------------------------- PERFORMANCE-BASED RESTRICTED SHARE UNIT WITH TIME VESTING AWARD - --------------------------------------------------------------- IN-SERVICE DISTRIBUTION: - ------------------------ I elect to defer receipt of the portion of my [Grant Year] grant of restricted share units that vests on the later of (i) the date on which the Compensation Committee certifies that the performance goal established for the [Grant Year] performance period has been achieved, and (ii) the first anniversary of the date of grant until __________________, which is a specific date between the date of vesting and ten (10) years after such date. I elect to defer receipt of the portion of my [Grant Year] grant of restricted share units that vests on the second anniversary of the date of grant until ____________, which is a specific date between the date of vesting and ten (10) years after such date. I elect to defer receipt of the portion of my [Grant Year] grant of restricted share units that vests on the third anniversary of the date of grant until ____________, which is a specific date between the date of vesting and ten (10) years after such date. I elect to defer receipt of the portion of my [Grant Year] grant of restricted share units that vests on the fourth anniversary of the date of grant until ____________, which is a specific date between the date of vesting and ten (10) years after such date. I understand that my election with respect to any portion of my [Grant Year] grant may only be modified if, at least twelve (12) months prior to the initial deferral date, I elect to further defer the distribution of such portion of the grant to a specific date within the contractually provided ten (10) year period that is at least five (5) years after my initial deferral date. - --------------------------------- --------------------------------- Signature Date POST-TERMINATION DISTRIBUTION FOR REASONS OTHER THAN DEATH OR DISABILITY: - ------------------------------------------------------------------------- I elect to defer receipt of my entire [Grant Year] grant of restricted share units after they vest until _________________________________ after termination of my employment for reasons other than death or disability, which is a time between six (6) months after my separation from service and three (3) years after my separation from service. I understand that this election is irrevocable. - --------------------------------- --------------------------------- Signature Date POST-TERMINATION DISTRIBUTION DUE TO DISABILITY: - ------------------------------------------------ I elect to defer receipt of my entire [Grant Year] grant of restricted share units after they vest until _________________________________ after termination of my employment due to disability, which is a time between my separation from service and three (3) years after my separation from service. I understand that this election is irrevocable. - --------------------------------- --------------------------------- Signature Date POST-TERMINATION DISTRIBUTION DUE TO DEATH: - ------------------------------------------- I elect to defer receipt of my entire [Grant Year] grant of restricted share units after they vest until after termination of my employment due to death, which is a time between my separation from service and three (3) years after my separation from service. I understand that this election is irrevocable. - --------------------------------- --------------------------------- Signature Date