Ex-10.4 Long Term Incentive Program

Contract Categories: Human Resources - Bonus & Incentive Agreements
EX-10.4 3 b60732wcexv10w4.htm EX-10.4 LONG TERM INCENTIVE PROGRAM exv10w4
 

Exhibit 10.4
[NOTE: Confidential Materials omitted and filed separately with the Securities and Exchange Commission.
Asterisks denote omissions.]
2006 Long Term Incentive Program
Award Date:
March 31, 2006
Unit Allocation Ratio:
           
 
  Job Category     Ratio of RSUs/PSUs by job level  
 
CEO
    50/50  
 
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:
                       
 
  2006 PSU Metric  
  Metric     Threshold     Target     Maximum  
 
Adjusted Net Income*
    $[**]     $[**]     $[**]  
 
    *as defined in the Amended and Restated Short-Term Incentive Program
               
 
  2006 Payout Levels  
  2006 Adjusted Net Income Result     Shares Granted as a Percent of PSU Target Award  
 
Threshold
      50 %  
 
Target
      100 %  
 
Maximum
      200 %  
 
     *shares granted are ratable between the three payout levels