Discretionary Bonus Awards Agreement for Named Executive Officers

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines discretionary cash and restricted stock bonuses awarded to three named executive officers: Craig R. Smith, Grace R. den Hartog, and Charles C. Colpo. Each officer receives a specified cash amount and a grant of restricted stock shares, which will vest after three years if the officer remains employed by the company. The agreement sets forth the amounts and vesting condition for these awards.

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EX-10.1 3 dex101.htm DISCRETIONARY BONUSES TO NAMED EXECUTIVE OFFICERS Discretionary Bonuses to Named Executive Officers

Exhibit 10.1

Discretionary Bonuses to Named Executive Officers

 

Name

   

Title

    Amount of Cash
Award ($)		    Amount of
Restricted Stock
Award (shares)
(1)
Craig R. Smith    President & Chief Executive Officer    $ 135,938    3,765
Grace R. den Hartog    Senior Vice President, General Counsel & Corporate Secretary    $ 40,624    1,125
Charles C. Colpo    Senior Vice President, Operations    $ 39,589    1,097
(1) The shares of restricted stock vest three years from the date of grant, provided that the officer remains employed by the Company.