Haverty Furniture Companies, Inc. 2011 Restricted Stock Unit Award Notice under 2004 Long-Term Incentive Plan

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

Haverty Furniture Companies, Inc. has granted a restricted stock unit (RSU) award to the recipient under its 2004 Long-Term Incentive Plan. The award vests over four years, with 25% vesting each year, provided the recipient remains employed. The RSUs convert to common stock upon vesting but do not provide voting rights or dividends until then. Unvested units are forfeited at retirement, but all restrictions lapse in the event of a change in control, death, or permanent disability. Recipients must review and accept the grant agreement through the Plan Administrator.

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EX-10.1 2 hvtex101.htm hvtex101.htm
EXHIBIT 10.1
 

EQUITY AWARD NOTICE


«FIRST_NAME» «MI» «LAST_NAME»
«HOME_SUITE»
«HOME_STREET»
«HOME_CITY», «HOME_PROVINCE» «HOME_POSTAL_CODE»

Pursuant to the terms and conditions of the Haverty Furniture Companies, Inc. 2004 Long-Term Incentive Plan (the “Plan”), on January 27, 2011, you were granted a restricted stock unit award (“RSU”) in the amount of _______________ units.  Each RSU is equivalent to one share of common stock upon vesting.

Subject to your continued employment with the Company, your award will vest over four years in accordance with the following schedule:

25% vest on May 8, 2012
25% vest on May 8, 2013
25% vest on May 8, 2014
25% vest on May 8, 2015

Until vested, the units represented by this award are not entitled to receive cash dividends and do not have the right to vote. The restrictions governing this award will lapse immediately upon a change in control, death or permanent and total disability as defined in Section 2 of the Plan. Units not vested at retirement will be forfeited.  Please consult the 2004 Long-Term Incentive Plan Prospectus for a complete understanding of Havertys’ equity award program.

This is a summary of the award.  The grant agreement and Plan Prospectus are the authorative source for all questions on awards made under the Plan.  You should log in to your account with the Plan Administrator, Solium Shareworks, to review and accept the grant agreement.