2007 Long Term Incentive Program Award Agreement

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the 2007 Long Term Incentive Program for employees, specifying how restricted stock units (RSUs) and performance stock units (PSUs) are allocated based on job level. The program covers roles from CEO to new hires, with vesting occurring at 25% per year over four years. The number of PSUs awarded depends on the company's adjusted net income, with payout levels ranging from 50% to 200% of the target award. The agreement sets clear performance metrics and vesting schedules for participants.

Read More Arrow
EX-10.4 3 b65204weexv10w4.txt EX-10.4 LONG TERM INCENTIVE PLAN EXHIBIT 10.4 [NOTE: CONFIDENTIAL MATERIALS OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. ASTERISKS DENOTE OMISSIONS.] 2007 LONG TERM INCENTIVE PROGRAM AWARD DATE: March 30, 2007 UNIT ALLOCATION RATIO:
RATIO OF RSUS/PSUS JOB CATEGORY BY JOB LEVEL ------------ ------------------ CEO PSU only SVP 50/50 VP 50/50 Sr Mgr 70/30 Manager/IC (1) 70/30 New Hire Pool RSU only
(1) IC represents Individual Contributors who may be identified by SVP to receive grant RSUs = Restricted Stock Units PSUs = Performance Stock Units VESTING SCHEDULE: The award vests at a rate of 25% each year over 4 years. PERFORMANCE-BASED RESTRICTED STOCK UNIT CALCULATIONS: The number of PSUs received under this Long Term Incentive Program is based on the following: 2007 PSU METRIC
METRIC THRESHOLD TARGET MAXIMUM ------ --------- ------ ------- Adjusted Net Income* $[**] $[**] $[**]
* as defined in the Amended and Restated Short-Term Incentive Program 2007 PAYOUT LEVELS
2007 ADJUSTED SHARES GRANTED AS A PERCENT NET INCOME RESULT OF PSU TARGET AWARD - ----------------- --------------------------- Threshold 50% Target 100% Maximum 200%
* shares granted are ratable between the three payout levels