2004 Special Achievement Award Schedule for Named Executive Officers

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This document outlines special achievement awards granted in 2004 to certain executive officers for exceptional performance related to specific company events, such as acquisitions, system implementations, and refinancing. Awards include grants of restricted stock with a three-year vesting period and a cash bonus. Recipients are Neil S. Novich (CEO, President & Chairman), Jay Gratz (EVP & CFO), and Gary Niederpruem (EVP). The awards recognize contributions outside the regular incentive plan and are contingent on continued employment through the vesting period.

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EX-10.1 3 dex101.htm SPECIAL ACHIEVEMENT AWARD Special achievement award

Exhibit 10.1

 

Schedule of special achievement awards to certain named executive officers

 

2004 SPECIAL AWARDS

 

Background

 

From time to time unusual events merit awards for outstanding individual performance outside of the short-term incentive plan. Special events such as restructurings, mergers and acquisitions or comprehensive programs have been the basis for special recognition in the past.

 

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2004 SPECIAL AWARDS

 

INTEGRIS ACQUISITION            

 

n       Neil S. Novich

CEO, President & Chairman

 

      15,000

 

 

   

shares of restricted stock 100% vesting after 3 years

 

 

 

n       Jay Gratz

EVP & CFO

 

      6,700

 

 

   

shares of restricted stock 100% vesting after 3 years

 

 

SAP IMPLEMENTATION            

 

n       Gary Niederpruem

EVP

 

      5,000

 

 

   

shares of restricted stock 100% vesting after 3 years

 

 

J & F ACQUISITION            

 

n       Jay Gratz

EVP & CFO

 

      10,000

 

 

   

shares of restricted stock 100% vesting after 3 years

 

 

REFINANCING            

n       Jay Gratz

EVP & CFO

    $ 127,500    cash