National Penn Bancshares 2007 Performance-Restricted Stock and RSU Performance Goals Table

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This document outlines the performance goals for awarding restricted stock or restricted stock units (RSUs) to directors of National Penn Bancshares, Inc. and National Penn Bank for 2007. The number of shares or units granted depends on the company's per-share performance, with specific thresholds set at $1.33, $1.38, $1.44, and $1.49. The performance goals align with those in the company's Executive Incentive Plan. Directors receive increasing awards as higher performance targets are met.

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EX-10.2 3 ex10-2.htm EXHIBIT 10.2 Exhibit 10.2
EXHIBIT 10.2
 

Performance-Restricted Restricted Stock
Or Restricted Stock Units-Performance Goals - 2007  
 
 
Number of Shares of Restricted            
 Stock or Restricted Stock Units (RSUs)          
   
National Penn
 
National Penn
 
 
 
Bancshares
 
Bank
 
Performance Goals
 
Directors  
 
 Directors 
  
           
           
Threshold - $1.33 per share
    
400
    
100
  
               
               
Market/Budget Target - $1.38 per share
    
900
    
225
  
               
               
Stretch Target - $1.44 per share
    
1,000
    
250
  
               
               
Optimum - $1.49 per share
    
1,100
    
275
  
 
______________________
 
These performance goals are consistent with the performance goals established under the National Penn Bancshares, Inc. Executive Incentive Plan.