Deferred Stock Unit Award Agreement for Executive Officers (2014 Performance Share Awards)
Contract Categories:
Business Finance
›
Equity Distribution Agreements
Summary
This agreement outlines the terms under which certain executive officers are granted performance-based deferred stock units by the company. The number of shares each executive may earn depends on meeting specific performance goals during the period from January 1, 2013, to December 31, 2016. The awards were granted on March 3, 2014, have a term of 34.5 months, and vest on January 21, 2017. The agreement specifies the target number of shares for each executive and is subject to the terms previously filed in 2008.
EX-10.52 5 exhibit1052201310k.htm EXHIBIT 10.52 Exhibit 10.52 2013 10K
EXHIBIT 10.52
TERMS OF DEFERRED STOCK UNIT AWARD AGREEMENT WITH CERTAIN EXECUTIVE OFFICERS
The form of Deferred Stock Unit Award Agreement (the “Agreement”), filed as Exhibit 10.6 to the Registrant's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2008, contains blanks where the executive's name, target number of shares, grant date, vesting date, performance period, shortened performance period start date, and months in term provided under the Agreement vary for each executive.
On March 3, 2014, performance share awards were granted providing certain executives the opportunity to earn common stock, the number of which is determined pursuant to, and subject to the attainment of, performance goals. The performance share awards were granted with a term of 34.5 months and vest on January 21, 2017. The performance period start date was January 1, 2014 thereby making the performance period January 1, 2013 through December 31, 2016. The target number of shares for each executive awarded performance shares on March 3, 2014 is listed below.
Executive Officer | Target number of shares |
Joseph J. MarcAurele | 4,300 |
David V. Devault | 2,200 |
Edward O. Handy, III | 2,200 |
Stephen M. Bessette | 1,400 |
James M. Hagerty | 1,400 |
Mark K.W. Gim | 1,400 |
Barbara J. Perino | 1,100 |
Kristen L. DiSanto | 1,100 |