EX-10.5 Long Term Incentive Program
Contract Categories:
Human Resources
- Bonus & Incentive Agreements
EX-10.5 5 b69755weexv10w5.htm EX-10.5 LONG TERM INCENTIVE PROGRAM exv10w5
Exhibit 10.5
[NOTE: CONFIDENTIAL MATERIALS OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION. ASTERISKS DENOTE OMISSIONS.]
SECURITIES AND EXCHANGE COMMISSION. ASTERISKS DENOTE OMISSIONS.]
2008 Long Term Incentive Program
Award Date:
March 30, 2008
March 30, 2008
Unit Allocation Ratio:
Job Category | Ratio of PSUs/RSUs by job level | ||||
CEO | 100/0 | ||||
EVP | 100/0 | ||||
SVP | 70/30 | ||||
VP | 50/50 | ||||
Director and below | 30/70 | ||||
New Hire Pool | RSU Only | ||||
RSUs = Restricted Stock Units
PSUs = Performance-Based Restricted Stock Units
PSUs = Performance-Based Restricted 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:
2008 PSU Metric | |||||||||||
Metric | Threshold | Target | Maximum | ||||||||
Adjusted Net Income* | $[**] | $[**] | $[**] | ||||||||
*as defined in the 2008 Short-Term Incentive Program Document
2008 Payout Levels | |||||
2008 Adjusted Net Income Result | Shares Granted as a Percent of PSU Target Award* | ||||
Below Threshold | 0% | ||||
Threshold | 50% | ||||
Target | 100% | ||||
Maximum | 200% | ||||
Above Maximum | 200% | ||||
*Shares granted are ratable between Threshold, Target, and Maximum based on actual performance.