Omega Flex, Inc. Phantom Stock Agreements with Directors and Officers (2010–2012 Grants)
Omega Flex, Inc. entered into Phantom Stock Agreements with several directors and officers, granting them phantom stock units between 2010 and 2012. Each grant specifies the number of units, grant price, vesting schedule, and maturity date. The agreements provide for vesting over three years, after which the recipients may receive a cash payment based on the value of the company's stock. These agreements are designed to incentivize and reward key personnel without issuing actual shares.
| EXHIBIT 10.15 | |||||
OMEGA FLEX, INC. |
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Phantom Stock Agreements |
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Schedule of Directors and Officers |
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As of December 31, 2012 |
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Director/Officer | Type | Number | Grant Date | Grant Price | Maturity Date | Vesting Schedule |
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Dean Rivest | Full | 1,500 | 03/03/2010 | $10.52 | 03/03/2014 | 3 years |
| Full | 1,500 | 03/03/2011 | $13.14 | 03/03/2015 | 3 years |
| Full | 1,500 | 02/16/2012 | $16.68 | 02/16/2016 | 3 years |
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Paul Kane | Full | 1,500 | 03/03/2010 | $10.52 | 03/03/2014 | 3 years |
| Full | 1,500 | 03/03/2011 | $13.14 | 03/03/2015 | 3 years |
| Full | 1,500 | 02/16/2012 | $16.68 | 02/16/2016 | 3 years |
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Edwin Moran | Full | 1,500 | 03/03/2010 | $10.52 | 03/03/2014 | 3 years |
| Full | 1,500 | 03/03/2011 | $13.14 | 03/03/2015 | 3 years |
| Full | 1,500 | 02/16/2012 | $16.68 | 02/16/2016 | 3 years |
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Steven Treichel | Full | 2,100 | 03/03/2010 | $10.52 | 03/03/2014 | 3 years |
| Full | 2,100 | 03/03/2011 | $13.14 | 03/03/2015 | 3 years |
| Full | 2,100 | 02/16/2012 | $16.68 | 02/16/2016 | 3 years |
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Timothy Scanlan | Full | 1,500 | 03/03/2010 | $10.52 | 03/03/2014 | 3 years |
| Full | 1,500 | 03/03/2011 | $13.14 | 03/03/2015 | 3 years |
| Full | 1,500 | 02/16/2012 | $16.68 | 02/16/2016 | 3 years |
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Steven Hockenberry | Full | 590 | 02/16/2012 | $16.68 | 02/16/2016 | 3 years |
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