Fiscal Year 2012 Non-Employee Director Stock Option Grant Award
This agreement outlines the grant of non-qualified stock options to non-employee directors, approved by the Board of Directors on December 13, 2011. Each director receives 5,000 stock options at an exercise price of $37.40 per share. The options vest equally over three years and have a total term of seven years. The grant is intended as a long-term equity incentive for non-employee directors.
EXHIBIT 10.2
Non-Employee Director Stock Option Grants
On December 12, 2011, the Nominating and Governance Committee of the Board of Directors recommended, and on December 13, 2011 the Board of Directors approved, the fiscal year 2012 non-employee director stock option grants in the amount and upon the terms and conditions set forth below.
General Terms of Grant:
| • | Form of grant: Non-qualified stock options. |
| • | Term and vesting of stock options: The stock option grants vest equally over a 3 year period and have a 7 year term. |
| • | Grant date: December 13, 2011. |
| • | Exercise Price for Stock Options: $37.40 |
| • | Number of stock options: 5,000 |
