PRG-Schultz International, Inc. Stock Option Vesting Acceleration Authorization (December 15, 2005)

Contract Categories: Human Resources › Compensation Agreements
Summary

PRG-Schultz International, Inc.'s Compensation Committee approved the immediate vesting of all unvested employee stock options that were "out of the money" as of December 15, 2005. This decision accelerated the vesting of 2,355,116 options, with exercise prices ranging from $3.16 to $17.25 per share, out of a total of 10,861,918 outstanding options. The accelerated vesting allows affected option holders to exercise their options sooner than originally scheduled.

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EX-10.60 10 g00141exv10w60.txt EX-10.60 VESTING ON DECEMBER 15, 2005 STOCK OPTION VESTING On December 15, 2005 the Compensation Committee of the Board of Directors of PRG-Schultz International, Inc. authorized the immediate vesting of all outstanding unvested time vesting options that have option prices that are out of the money as of such date. This action accelerated the vesting of 2,355,116 options of the 10,861,918 options outstanding as November 30, 2005. The accelerated options have option prices that range from $3.16 per share to $17.25 per share and a weighted average option price per share of $4.97.