Wright Express Corporation Amended and Restated 2009 Long Term Incentive Program Award Agreement

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the terms of the 2009 Long Term Incentive Program for Wright Express Corporation employees. Under the program, participants receive an award split equally between Restricted Stock Units (RSUs) and Non-Qualified Stock Options, both valued using the company's stock price on March 5, 2009. The awards vest in three equal annual installments over three years, starting one year from the award date. Participants must remain employed to receive each vesting portion.

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EX-10.2 3 b75212weexv10w2.htm EX-10.2 WRIGHT EXPRESS CORPORATION AMENDED AND RESTATED LONG TERM INCENTIVE PROGRAM. exv10w2
Exhibit 10.2
2009 Long Term Incentive Program
Award Date:
March 5, 2009
Unit Allocation Ratio:
•   50% of total individual grant is granted as Restricted Stock Units
 
•   50% of total individual grant is granted as Non-Qualified Stock Options using strike price as of March 5, 2009
Vesting Schedule:
The award vests at a rate of one third each year over 3 years.
Example:
Grant Received:
  •   Award Value: $30,000
 
  •   Ratio of RSUs/Options in Award: 50/50
 
  •   Award Date: March 5, 2009
 
  •   WEX Stock Price on March 5, 2009: $13.60
 
  •   Total RSUs in award: 1000 (50% of total grant based on WEX stock price of $13.60)
 
  •   Total Options in award: 1000 (50% of total grant based on WEX stock price of $13.60)
Vesting Schedule:
  •   First vesting event: March 5, 2010
  o   RSUs vesting: 333 (one third of total RSUs granted)
 
  o   Options vesting: 333 (one third of total Options granted)
  •   Second vesting event: March 5, 2011
  o   RSUs vesting: 333 (one third of total RSUs granted)
 
  o   Options vesting: 333 (one third of total Options granted)
  •   Third vesting event: March 5, 2012
  o   RSUs vesting: 334 (one third of total RSUs granted)
 
  o   Options vesting: 334 (one third of total Options granted)