Wausau Paper Corp. 2007 Equity Incentive Compensation Plan
This agreement outlines Wausau Paper Corp.'s 2007 Equity Incentive Compensation Plan for its CEO, CFO, and other named executive officers. The plan provides for grants of restricted stock units and stock options, which vest based on the company's achievement of specific return on capital targets and, for restricted stock units, the fulfillment of minimum service requirements. Awards are structured in three tiers, with the maximum award being the sum of all tiers. The number of shares and option exercise prices are based on the company's stock price at the time of grant.
Exhibit 10.14
Wausau Paper Corp.
2007 Equity Incentive Compensation Plan
An individual officer’s grant at each tier will vest upon the Company’s achievement of targeted levels of return on capital employed for such tier and, with respect to the restricted stock units, the satisfaction of minimum service criteria. The maximum potential award for the CEO, CFO, and each of the named executive officers is the cumulative award payable under each of Tiers I, II, and III.
Tier I | Tier II | Tier III | |||
Restricted stock units equal | Options (100 shares | Options (100 shares | |||
to 12% of base salary(1) | per $2,000 base salary)(2) | per $2,000 base salary)(2) | |||
(1) Number of shares determined by closing price of Company stock ($14.99) on last business day preceding grant as markets were closed on date of grant.
(2) Exercise price of $14.99 per share (closing price of Company stock on last business day preceding grant as markets were closed on date of grant).
