Addendum to Amended and Restated Participation Agreement for TD Bank 2005 Performance Based Restricted Share Unit Plan (Year Two)

Contract Categories: Business Finance › Participation Agreements
Summary

This addendum is between TD Banknorth Inc. and a participant, setting out the performance goals for the second year (2006) of the 2005 Performance Based Restricted Share Unit Plan. The agreement specifies how many restricted share units the participant may earn based on TD Bank's earnings per share (EPS) growth during 2006. The number of units awarded depends on the percentage growth in EPS, with specific targets and corresponding payout factors. The addendum is dated January 24, 2006, and signed by TD Banknorth's Chairman, President, and CEO.

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EX-10.2 3 w16935exv10w2.htm EXHIBIT 10.2 exv10w2  

Exhibit 10.2
Addendum to Amended and Restated Participation Agreement
TD Bank 2005 Performance Based Restricted Share Unit Plan
       Year Two Performance Goals (January 1, 2006 — December 31, 2006)
                         
                    Illustrative Number
Performance Target:   Performance Target:           of Year Two Units
Percentage Growth in EPS   2006 EPS   Performance Factor   (1)
4.0%
   $ 2.58       85 %     85  
4.4%
   $ 2.59       88 %     88  
4.8%
   $ 2.60       91 %     91  
5.2%
   $ 2.61       94 %     94  
5.6%
   $ 2.62       97 %     97  
6.0% — Performance Target
   $ 2.63       100 %     100  
6.5%
   $ 2.64       103 %     103  
6.9%
   $ 2.65       106 %     106  
7.3%
   $ 2.66       109 %     109  
7.7%
   $ 2.67       112 %     112  
8.0%
   $ 2.68       115 %     115  
 
(1) Based on an assumed Award of 300 Initial Units, which is for illustrative purposes only
Dated: January 24, 2006.
         
TD BANKNORTH INC.    
 
        
By: 
        
 
     
 
Name: William J. Ryan    
 
Title: Chairman, President and    
 
          Chief Executive Officer    
 
        
PARTICIPANT    
 
        
     
Name: