National Penn Bancshares 2008 Performance-Restricted Stock and RSU Award Terms for Directors

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This document outlines the performance goals for restricted stock or restricted stock units (RSUs) granted to directors of National Penn Bancshares and National Penn Bank in 2008. The awards are tied to specific earnings per share targets, with different share amounts granted based on whether threshold, target, or optimum performance levels are met. These goals align with the company's Executive Incentive Plan. The agreement specifies the number of shares or units directors may receive depending on the company's financial performance.

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EXHIBIT 10.1
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Performance-Restricted Restricted Stock
Or Restricted Stock Units-Performance Goals - 2008




Number of Shares of Restricted                                                                                    
          Stock or Restricted Stock Units (RSUs)


 
 
Performance Goals
 
National Penn Bancshares
Directors
 
National Penn
Bank Directors
 
Per Share
    
Threshhold
 
$  1.20
1,400
350
Target
 
$  1.33
1,500
375
Optimum
 
$  1.44
1,600
400


 




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These performance goals are consistent with the earnings per share performance goalsestablished under the National Penn Bancshares, Inc. Executive Incentive Plan.


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