Target Perusahaan Karyawan Opsi Saham

Opsi Saham Karyawan - ESO BREAKING DOWN Opsi Saham Karyawan - Karyawan ESO biasanya harus menunggu periode vesting tertentu berlalu sebelum mereka dapat menggunakan opsi tersebut dan membeli saham perusahaan, karena gagasan di balik opsi saham adalah menyelaraskan insentif antara karyawan dan pemegang saham. Dari sebuah perusahaan. Pemegang saham ingin melihat kenaikan harga saham, sehingga memberi penghargaan kepada karyawan karena harga saham naik dari waktu ke waktu menjamin bahwa setiap orang memiliki tujuan yang sama dalam pikirannya. Bagaimana Perjanjian Opsi Opsi Saham Mengasumsikan bahwa manajer diberi opsi saham, dan perjanjian opsi memungkinkan manajer untuk membeli 1.000 saham perusahaan pada harga strike, atau harga pelaksanaan, dari 50 per saham. 500 saham dari total rompi setelah dua tahun, dan sisa 500 saham rompi pada akhir tiga tahun. Vesting mengacu pada karyawan yang mendapatkan kepemilikan atas pilihan, dan vesting memotivasi pekerja untuk tinggal dengan perusahaan sampai opsi rompi. Contoh Opsi Saham Berolahraga Dengan menggunakan contoh yang sama, asumsikan bahwa harga saham meningkat menjadi 70 setelah dua tahun, yang berada di atas harga pelaksanaan opsi saham. Manajer dapat melakukan exercise dengan membeli 500 saham yang berada di posisi 50, dan menjual saham tersebut pada harga pasar 70. Transaksi tersebut menghasilkan 20 per saham atau total 10.000. Perusahaan mempertahankan manajer berpengalaman selama dua tahun tambahan, dan keuntungan karyawan dari opsi opsi saham. Jika, sebaliknya, harga saham tidak melebihi harga jual 50, manajer tidak menggunakan opsi saham. Karena karyawan memiliki opsi untuk 500 saham setelah dua tahun, manajer mungkin dapat meninggalkan perusahaan dan mempertahankan opsi saham sampai opsi habis masa berlakunya. Pengaturan ini memberi manajer kesempatan untuk mendapatkan keuntungan dari kenaikan harga saham di jalan. Anjak dalam Biaya Perusahaan ESO sering diberikan tanpa persyaratan pengeluaran tunai dari karyawan. Jika harga pelaksanaannya adalah 50 per saham dan harga pasar adalah 70, misalnya, perusahaan mungkin hanya membayar karyawan tersebut selisih antara kedua harga tersebut dikalikan dengan jumlah saham opsi saham. Jika 500 saham tersebut menjadi haknya, jumlah yang dibayarkan kepada karyawan adalah (20 X 500 saham), atau 10.000. Ini menghilangkan kebutuhan pekerja untuk membeli saham sebelum stok terjual, dan struktur ini membuat opsi lebih bernilai. ESO adalah biaya untuk majikan, dan biaya penerbitan opsi saham diposkan ke laporan laba rugi perusahaan. Rencana Insentif Jangka Panjang - Sasaran Corp RENCANA INSENTIF JANGKA PANJANG (Sebagaimana telah diubah dan disajikan kembali efektif pada tanggal 8 Juni 2011) PENDIRIAN RENCANA AKSI 1.1. Rencana ini dikenal sebagai Rencana Insentif Jangka Panjang Target Corporation (selanjutnya disebut Rencana). 1,2 TUJUAN. Tujuan dari Rencana ini adalah untuk memajukan kinerja dan pertumbuhan jangka panjang Perusahaan dengan menawarkan insentif jangka panjang kepada direksi dan karyawan Perusahaan dan Anak Perusahaan dan Peserta lainnya yang ditentukan oleh Komite Rencana akan memberikan kontribusi terhadap kinerja dan pertumbuhan tersebut. Inuring untuk kepentingan pemegang saham Perusahaan. Rencana ini juga dimaksudkan untuk memfasilitasi rekrutmen dan mempertahankan personil dengan kemampuan yang luar biasa. 2.1 AWARD. An Award adalah pemberian Opsi Saham, Hak Apresiasi Saham, Ekuivalen Dividen, Penghargaan Kinerja, Saham Dibatasi atau Unit Saham Dibatasi berdasarkan Rencana. 2.2 DEWAN. Dewan Direksi adalah Direksi Perseroan. 2.3 CASH PROCEEDS. Cash Proceeds berarti uang yang sebenarnya diterima oleh Perusahaan untuk harga pembelian yang harus dibayarkan pada saat pelaksanaan Opsi Saham ditambah dengan manfaat pajak maksimum yang dapat direalisasikan oleh Perusahaan sebagai akibat pelaksanaan Opsi Saham tersebut, yang manfaat pajaknya ditentukan Dengan mengalikan (a) jumlah yang dapat dikurangkan sebagai hasil dari setiap opsi Opsi Saham tersebut (saat ini sama dengan jumlah kewajiban penghentian pajak Peserta Peserta), waktu (b) tarif pajak penghasilan badan federal maksimum untuk tahun tersebut Olahraga. Sejauh Peserta membayar harga pelaksanaan dan dan menahan pajak dengan saham, Hasil Tunai tidak dihitung berkenaan dengan jumlah yang dibayarkan. 2.4 PERUBAHAN DALAM PENGENDALIAN. Perubahan dalam Kontrol berarti, kecuali jika ditentukan lain dalam perjanjian Award, salah satu dari berikut ini: (a) Individu yang Melanjutkan Direksi berhenti dengan alasan apapun untuk membentuk 50 atau lebih direktur perusahaan atau (b) 30 atau lebih dari Hak suara yang beredar atas Efek Bersyarat Perusahaan diperoleh atau dimiliki secara menguntungkan (sesuai dengan Peraturan 13d-3 berdasarkan Undang-Undang Bursa) oleh Pihak manapun, selain entitas yang menghasilkan Kombinasi Bisnis di mana klausa (x) dan ( Y) Bagian 2.4 (c) menerapkan atau (c) penyempurnaan merger atau konsolidasi Perusahaan dengan atau ke entitas lain, bursa efek, penjualan atau disposisi lainnya (dalam satu transaksi atau serangkaian transaksi) dari Semua atau secara substansial seluruh aset Perusahaan atau kombinasi bisnis sejenis (masing-masing, Kombinasi Bisnis), dalam setiap kasus kecuali jika segera mengikuti Kombinasi Bisnis semacam itu, (x) semua atau sebagian besar pemilik yang menguntungkan (sesuai dengan Peraturan 13d -3 di bawah Efek Undang-Undang) Efek Bersifat Ekuitas Perusahaan segera sebelum Penggabungan Usaha tersebut secara menguntungkan memiliki, secara langsung atau tidak langsung, lebih dari 60 hak suara dari saham preferen saham yang beredar (atau kepentingan pemungutan suara yang sebanding) dari yang masih ada Atau mengakuisisi entitas yang berasal dari Kombinasi Bisnis tersebut (termasuk kepemilikan suatu entitas yang menguntungkan seperti itu, yang mengakibatkan transaksi tersebut, memiliki seluruh aset Perusahaan baik secara langsung maupun sendiri melalui satu atau lebih Anak Perusahaan), pada dasarnya Proporsi yang sama (dibandingkan dengan pemegang saham Perusahaan lainnya yang dapat dinikmati segera sebelum Penggabungan Bisnis tersebut) sebagai hak kepemilikan Perusahaan atas Penawaran Saham Khusus Perusahaan segera sebelum Penggabungan Usaha tersebut, dan (y) tidak ada orang yang memiliki, baik secara langsung maupun tidak langsung , 30 atau lebih hak suara dari pemungutan suara yang beredar (atau kepentingan ekuitas yang sebanding) dari orang yang selamat Iving atau mengakuisisi entitas (selain entitas induk langsung atau tidak langsung dari entitas yang bertahan atau mengakuisisi, bahwa, setelah memberikan efek pada Kombinasi Bisnis, secara menguntungkan memiliki, secara langsung atau tidak langsung, 100 dari saham preferen yang beredar (atau kepentingan ekuitas yang sebanding) dari Entitas yang masih hidup atau yang mengakuisisi) atau (d) persetujuan oleh pemegang saham atas suatu kesepakatan definitif atau rencana untuk melikuidasi atau membubarkan Perusahaan. Terlepas dari hal tersebut di atas, sejauh mana setiap Penghargaan merupakan penangguhan kompensasi yang diatur oleh Bagian 409A Kode Etik, dan jika Penghargaan tersebut memberikan suatu perubahan pada waktu atau bentuk pembayaran atas Perubahan Kontrol, maka semata-mata untuk tujuan Dengan menerapkan perubahan seperti itu dalam bentuk waktu atau bentuk pembayaran, Pengendalian Perubahan dianggap telah terjadi pada suatu peristiwa yang dijelaskan dalam Bagian 2.4 hanya jika kejadian tersebut juga merupakan perubahan kepemilikan atau pengendalian yang efektif atas, atau perubahan dalam Kepemilikan sebagian besar aset, Perusahaan berdasarkan Bagian 409A Kode Etik. 2.5 KODE. Kode Etik ini adalah Kode Penghasilan Internal tahun 1986, sebagaimana telah diubah, dan peraturan perundang-undangan di bawahnya, seperti yang berlaku sekarang atau sebagaimana yang diubah terakhir. 2.6 PERUSAHAAN. Perusahaan adalah Target Corporation, perusahaan Minnesota, dan penerusnya. 2.7 UMUM. Saham Biasa adalah saham biasa, .0833 nilai nominal per saham (nilai nominal tersebut dapat disesuaikan dari waktu ke waktu) dari Perusahaan. 2,8 DATE GRANT. Tanggal Pemberian Penghargaan adalah tanggal yang ditetapkan dalam resolusi oleh Komite Rencana sebagai tanggal sebuah Penghargaan, yang tidak boleh lebih awal dari tanggal keputusan dan tindakan yang ditetapkan oleh Komite Rencana. Jika tidak ada tanggal yang ditentukan atau metode tetap untuk menghitung tanggal tersebut ditetapkan secara khusus dalam resolusi Komite Plan153, maka Tanggal Hibah adalah tanggal dari resolusi atau tindakan Komite Perencanaan153s. 2,9 DIVIDEN EKUIVALEN. Dividen Setara adalah hak untuk menerima jumlah yang sama dengan dividen tunai biasa yang dibayarkan pada satu saham biasa. Setara Dividen hanya dapat diberikan sehubungan dengan pemberian Penghargaan yang didasarkan pada namun tidak termasuk saham biasa (baik yang dibatasi maupun tidak dibatasi). Jumlah Ekuivalen Dividen yang diberikan tidak melebihi jumlah hak berbasis saham terkait. (Misalnya, jumlah Ekuivalen Dividen yang diberikan sehubungan dengan pemberian Hak atas Apresiasi Saham dapat sama dengan jumlah Hak Aparatur Saham tersebut, meskipun jumlah saham yang benar-benar dibayarkan atas pelaksanaan Hak-hak Apresiasi Saham tersebut akan kurang dari Jumlah Hak Tagihan dan Setara Dividen Saham yang diberikan.) Setara Dividen tunduk pada syarat dan ketentuan seperti yang mungkin dibuat oleh Komite Rencana, tetapi akan berakhir paling lambat pada tanggal dimana hak saham berbasis saham mereka dilaksanakan. , Kadaluarsa atau hangus (mana saja yang terjadi lebih dulu). Jumlah yang terhutang karena hibah Dividen Setara dapat dibayarkan secara tunai, baik saat ini atau ditangguhkan, atau dikonversi menjadi saham Biasa, sebagaimana ditentukan oleh Komite Rencana. 2.10 PERTUKARAN ACT. Exchange Act adalah Securities Exchange Act of 1934, sebagaimana telah diubah, dan peraturan perundang-undangan di bawahnya, seperti yang berlaku sekarang atau sebagaimana yang telah diubah terakhir. 2.11 NILAI PASAR FAIR. (A) semata-mata untuk tujuan menentukan harga pelaksanaan Opsi Saham atau Hak Apresiasi Saham, Nilai Pasar Wajar dari saham Biasa pada tanggal berapa pun adalah Volume Tertimbang Harga Rata-rata untuk saham tersebut yang dilaporkan untuk saham tersebut oleh Bloomberg LP pada Tanggal tersebut, atau dengan tidak adanya laporan tersebut, Volume Weighted Average Price untuk saham seperti yang dilaporkan untuk saham tersebut oleh New York Stock Exchange pada tanggal tersebut atau, jika tidak ada penjualan yang dicatat oleh Bloomberg LP atau New York Stock Exchange pada Tanggal tersebut, maka pada tanggal terakhir sebelumnya dimana penjualan tersebut dilakukan berdasarkan urutan keutamaan yang ditunjukkan di atas. (B) Untuk semua keperluan lain dari Rencana, Nilai Pasar Wajar dari Saham Biasa adalah jumlah yang ditentukan oleh Perusahaan dengan menggunakan kriteria tersebut karena akan menentukan, atas pertimbangannya sendiri, agar sesuai dengan penilaian. 2.12 PILIHAN SAHAM YANG INSENTIF. Opsi Saham Insentif adalah Opsi Saham yang dimaksudkan untuk memenuhi syarat sebagai opsi saham insentif berdasarkan Bagian 422 Kode Etik. 2.13 PILIHAN NON-KUALIFIKASI. Opsi Non-Berkualitas adalah Opsi Saham yang tidak dimaksudkan untuk memenuhi syarat sebagai opsi saham insentif berdasarkan Bagian 422 Kode Etik. 2.14 PESERTA. Peserta adalah orang yang telah ditunjuk oleh Komite Rencana dan diberi sebuah Penghargaan berdasarkan Rencana ini sesuai dengan Pasal III ini. 2.15 TUJUAN KINERJA. Sasaran Kinerja adalah kondisi kinerja, jika ada, ditetapkan sesuai dengan Bagian 4.1 oleh Panitia Rencana sehubungan dengan sebuah Penghargaan. 2.16 PERIODE KINERJA. Periode Kinerja sehubungan dengan Penghargaan Kinerja adalah periode tidak kurang dari satu tahun kalender atau satu tahun fiskal Perusahaan, dimulai tidak lebih awal dari tahun di mana Penghargaan Prestasi tersebut diberikan, yang dapat dirujuk di sini dan oleh Rencana Komite dengan menggunakan kalender atau tahun fiskal di mana Periode Kinerja tertentu dimulai. 2.17 PERFORMANCE AWARD. Penghargaan Kinerja adalah salah satu dari: sejumlah saham Common Stock yang tunduk pada Sasaran Kinerja (Performance Shares), hak untuk menerima sejumlah saham Common Stock yang tunduk pada Sasaran Kinerja (Performance Share Units), atau jumlah tunai yang dikenakan pada Sasaran Kinerja (Performance Unit), ditentukan (dalam semua kasus) sesuai dengan Pasal IV dari Rencana ini berdasarkan sejauh mana Sasaran Kinerja yang berlaku tercapai. Penghargaan Kinerja tidak berharga bagi Peserta kecuali dan sampai diterima sesuai dengan Pasal IV ini. 2.18 RENCANA KOMITE. Komite Rencana adalah panitia yang dijelaskan dalam Bagian 8.1 di sini. 2.19 RENCANA TAHUN. Tahun Rencana adalah tahun fiskal Perseroan yang jatuh tempo dalam Rencana ini. 2.20 SAHAM TERBATAS. Stok Terbatas adalah Saham Biasa yang diberikan dengan syarat dan ketentuan, termasuk risiko penyitaan, yang ditetapkan oleh Komite Rencana sesuai dengan Pasal VI dari Rencana ini. 2.21 UNIT STOCK YANG TERBATAS. Unit Saham yang Dibatasi adalah hak untuk menerima satu saham biasa di masa mendatang yang telah diberikan persyaratan dan ketentuan, termasuk risiko penyitaan, yang ditetapkan oleh Komite Rencana sesuai dengan Pasal VI dari Rencana ini. 2.22 STOCK APPRECIATION KANAN. Apresiasi Saham Hak adalah hak untuk menerima, pada saat pelaksanaan hak tersebut, suatu jumlah, yang dapat dibayarkan secara tunai, saham biasa atau kombinasi daripadanya sehubungan dengan kebijaksanaan Komite Rencana, sama dengan perbedaan antara Pasar Adil Nilai satu saham Biasa pada tanggal pelaksanaan dan harga pelaksanaan untuk hak tersebut sebagaimana ditentukan oleh Komite Rencana pada atau sebelum Tanggal Grant. Hak Apresiasi Saham dapat diberikan bersamaan dengan Stock Options atau Penghargaan lainnya atau boleh berdiri sendiri. 2.23 OPSI SAHAM. Opsi Saham adalah hak untuk membeli dari Perusahaan setiap saat tidak lebih dari sepuluh tahun setelah Tanggal Grant, satu saham biasa untuk harga pelaksanaan tidak kurang dari Nilai Pasar Wajar dari saham Biasa pada Tanggal Dari Grant, tunduk pada syarat dan ketentuan yang ditetapkan sesuai dengan Pasal V ini. Stock Options bisa berupa pilihan non-Qualified Options atau Incentive Stock Options. 2.24 ANAK PERUSAHAAN CORPORATION. Istilah Anak Perusahaan atau Anak Perusahaan adalah perusahaan apapun (selain Perusahaan) dalam rantai perusahaan yang tidak terputus yang dimulai dengan Perusahaan, di mana masing-masing perusahaan selain perusahaan terakhir dalam rantai tak terputus memiliki saham yang memiliki lima puluh persen atau lebih dari jumlah Total gabungan kekuatan pemungutan suara dari semua kelas saham di salah satu perusahaan lain dalam rantai seperti yang ditentukan pada titik waktu ketika referensi dibuat untuk Anak Perusahaan atau Anak Perusahaan tersebut dalam Rencana ini. 2.25 MENGINTIP DIREKTUR. Melanjutkan Direktur berarti seorang individu (a) siapa, pada tanggal efektif Rencana, direktur Perusahaan, atau (b) yang menjadi direktur Perusahaan setelah tanggal efektif dan yang penunjukan awal, atau nominasi untuk Pemilihan oleh pemegang saham Perusahaan153s, telah disetujui oleh setidaknya sebagian besar Direktur Pelanjut kemudian memberikan, bagaimanapun, bahwa setiap individu yang asumsi awal jabatannya terjadi sebagai akibat dari pemilihan yang benar-benar atau terancam yang diperebutkan oleh Pihak manapun (selain Dewan ) Mencari pemilihan calon tersebut di mana jumlah nominasi melebihi jumlah direktur yang akan dipilih tidak akan menjadi Direktur yang Melanjutkan. 2.26 PERSON. Orang, seperti yang digunakan dalam Bagian 2.4 dan 2.25, berarti setiap individu, perusahaan, perusahaan atau entitas lain dan harus menyertakan kelompok yang terdiri dari orang mana pun dan orang lain dengan siapa orang tersebut atau afiliasi atau rekan kerja (sebagaimana didefinisikan dalam Aturan 14a-1 (A) Undang-undang Bursa) orang tersebut memiliki kesepakatan, pengaturan atau pemahaman, baik secara langsung maupun tidak langsung, untuk tujuan memperoleh, memegang, memberi suara atau melepaskan persediaan modal Perusahaan. 2.27 VOTING STOCK. Voting Stock berarti semua modal saham yang beredar di Perusahaan yang berhak memilih secara umum dalam pemilihan direksi Perusahaan. PEMBERIAN PENGHARGAAN KEPADA PESERTA 3.1 PESERTA ELIGIBLE. Penghargaan dapat diberikan oleh Komite Rencana kepada karyawan Perusahaan atau Anak Perusahaan, termasuk karyawan yang juga direktur Perusahaan atau Anak Perusahaan. Penghargaan selain hibah Opsi Saham Insentif juga dapat diberikan kepada (a) direktur Perusahaan yang bukan merupakan karyawan Perusahaan atau Anak Perusahaan dan (b) setiap orang atau badan, selain seorang karyawan, yang memberikan layanan Kepada Perusahaan atau Anak Perusahaan dalam kapasitas sebagai penasihat atau konsultan. Referensi dalam Rencana untuk pekerjaan dan persyaratan serupa (kecuali karyawan) mencakup penyediaan layanan dalam kapasitas direktur, penasihat atau konsultan, dan referensi untuk penghentian kerja berarti penghentian hubungan (karyawan, direktur, penasihat atau konsultan ) Di mana Penghargaan diberikan, bahkan jika orang tersebut melanjutkan hubungan lain. Seseorang yang telah dilibatkan oleh Perusahaan untuk pekerjaan harus memenuhi syarat untuk Penghargaan selain Opsi Saham Insentif, asalkan orang tersebut benar-benar melaporkan dan memulai pekerjaan tersebut dalam waktu 90 hari setelah Tanggal Penandatanganan. Opsi Saham Insentif dapat diberikan hanya kepada individu yang merupakan karyawan pada Tanggal Grant. 3.2 PERANCANGAN PESERTA. Setiap saat dan dari waktu ke waktu selama Tahun Rencana, Komite Rencana dapat menunjuk karyawan Perusahaan dan Anak Perusahaan dan Peserta lainnya yang memenuhi syarat untuk Penghargaan. 3.3 ALOKASI PENGHARGAAN. Secara bersamaan dengan penunjukan Peserta sesuai dengan Bagian 3.2 di sini, Komite Rencana harus menentukan ukuran, jenis dan Tanggal Hibah untuk setiap Penghargaan, dengan mempertimbangkan faktor-faktor yang dianggap relevan, yang dapat mencakup hal-hal berikut: (a) Jumlah saham Biasa tersedia untuk Penghargaan berdasarkan Rencana (b) penugasan atau posisi Peserta dan kepekaannya dan atau dampaknya terhadap profitabilitas dan pertumbuhan Perusahaan dan Anak Perusahaan dan (c) kinerja Peserta Mengacu pada faktor-faktor tersebut. Komite Rencana hanya dapat memberikan satu jenis Award kepada Peserta atau dapat memberikan kombinasi Penghargaan apapun dalam hubungan apa pun satu sama lain, jika ada, sesuai dengan Rencana Komite dalam menentukan kebijakannya. 3.4 PEMBERITAHUAN UNTUK PESERTA DAN PENGIRIMAN DOKUMEN. Begitu dapat dipraktekkan setelah penetapan tersebut dilakukan, masing-masing Peserta diberitahu tentang (a) sebutannya sebagai Peserta, (b) Tanggal Hibah, (c) jumlah dan jenis Penghargaan yang diberikan kepada Peserta, (d ) Dalam hal Penghargaan Kinerja, Periode Kinerja dan Sasaran Kinerja, dan (e) dalam kasus Saham Terbatas atau Unit Saham Terbatas, Periode Pembatasan. Peserta kemudian diberi bukti tertulis dari setiap Penghargaan tersebut. 4.1 PEMBENTUKAN TUJUAN KINERJA. Sasaran Kinerja yang berlaku untuk Penghargaan Kinerja harus ditetapkan oleh Komite Rencana dalam kebijaksanaan mutlaknya pada atau sebelum Tanggal Grant dan tidak lebih dari jangka waktu yang wajar setelah dimulainya Periode Kinerja yang relevan. Sasaran Kinerja tersebut dapat mencakup atau didasarkan pada satu atau lebih dari kriteria berikut: penjualan bersih penjualan toko yang sebanding, jumlah pendapatan penjualan marjin kotor, tingkat pendapatan umum dan biaya administrasi sebelum bunga, pajak, penyusutan dan pendapatan amortisasi sebelum pendapatan bunga dan pajak Sebelum pajak laba bersih laba per saham Target Corporation harga saham total pemegang saham kembali laba atas ekuitas kembali pada penjualan kembali pengembalian aset pada arus modal yang diinvestasikan pengembalian investasi nilai tambah investasi segmen kartu kredit profitabilitas segmen kartu kredit pra-pajak pengembalian kredit modal yang diinvestasikan Kartu menyebar ke LIBOR arus kas operasi arus kas bebas modal kerja cakupan hutang bersih terhadap laba sebelum bunga, pajak, depresiasi, amortisasi dan rasio biaya sewa leverage hutang dan total hutang bersih. Sasaran Kinerja mungkin mutlak dalam persyaratan mereka atau diukur melawan atau berhubungan dengan kinerja perusahaan lain atau indeks, baik sebanding, sama atau sebaliknya terletak pada Perusahaan. Sasaran Kinerja dapat didasarkan pada hasil konsolidasi Perusahaan atau hasil segmen atau bagian lain dari bisnis Perusahaan, dan dapat dihitung sesuai dengan prinsip akuntansi yang berlaku umum atau prinsip akuntansi manajemen lainnya. Kapan pun sebelum melakukan distribusi Penghargaan Kinerja, Komite Rencana dapat, atas kebijakannya sendiri, mengubah Sasaran Kinerja yang berlaku untuk Penghargaan Kinerja tersebut jika menentukan kejadian tak terduga yang telah terjadi yang memiliki dampak substansial terhadap Sasaran Kinerja dan Kejadian yang tidak terduga akan membuat penerapan Sasaran Kinerja asli tidak adil, namun, bahwa tidak ada perubahan atau modifikasi semacam itu yang dapat dilakukan sejauh meningkatkan jumlah kompensasi yang harus dibayarkan kepada Peserta yang merupakan karyawan tertutup sesuai dengan Kode Seksi 162 (M). 4.2 TINGKAT KINERJA YANG DIPERLUKAN UNTUK PENGHARGAAN KINERJA EARN. Pada atau sekitar waktu yang sama dimana Sasaran Kinerja ditetapkan untuk jangka waktu tertentu, Komite Rencana harus secara mutlak menetapkan persentase Penghargaan Kinerja yang diberikan untuk Periode Kinerja tersebut yang akan diterima oleh Peserta untuk berbagai tingkat kinerja yang diukur dalam Hubungan dengan pencapaian Sasaran Kinerja untuk Periode Kinerja tersebut. 4.3 PEMBATASAN LAINNYA. Komite Rencana harus menentukan syarat dan ketentuan yang berlaku untuk setiap Penghargaan Kinerja, yang dapat mencakup pembatasan pengiriman Hutang Bersama sehubungan dengan Penghargaan Kinerja dan pembatasan yang dapat mengakibatkan penyitaan masa depan dari semua atau sebagian dari Saham Biasa yang diperoleh . Komite Rencana dapat menetapkan bahwa saham Biasa yang diterbitkan sehubungan dengan Penghargaan Kinerja diadakan di escrow andor legended. 4.4 PEMBERITAHUAN KEPADA PESERTA. Segera setelah Komite Rencana telah menetapkan atau memodifikasi Sasaran Kinerja berkenaan dengan Penghargaan Kinerja, Peserta harus diberi pemberitahuan tertulis mengenai Sasaran Kinerja yang ditetapkan atau dimodifikasi. 4.5 PENGUKURAN KINERJA TERHADAP TUJUAN KINERJA. Komite Rencana harus, sesegera mungkin setelah penutupan Periode Kinerja, tentukan: (a) sejauh mana Sasaran Kinerja untuk Periode Kinerja tersebut telah tercapai dan (b) persentase Penghargaan Kinerja yang diperoleh sebagai hasilnya . Terlepas dari hal tersebut di atas, jika dan sejauh perjanjian Penghargaan Kinerja yang berlaku mengizinkan, Komite Rencana dapat, atas kebijakannya sendiri, mengurangi persentase dari setiap Penghargaan Kinerja yang ditentukan lain untuk Periode Kinerja, dan persentase yang dikurangi tersebut adalah jumlah yang diperoleh oleh Peserta. Semua penentuan Komite Rencana bersifat mutlak dan final mengenai fakta dan kesimpulan yang dibuat dan mengikat semua pihak. Segera setelah Komite Rencana membuat keputusan di atas, setiap Peserta yang telah memperoleh Penghargaan Kinerja akan diberi tahu, secara tertulis. Untuk semua tujuan Rencana ini, pemberitahuan dianggap telah diberi tanggal tindakan diambil oleh Komite Rencana untuk membuat keputusan. Peserta tidak boleh menjual, mentransfer, memberikan janji, menukar, memberi hipotek atau melepaskan semua atau sebagian Penghargaan Kinerja selama Periode Kinerja, kecuali bahwa Penghargaan Kinerja dapat dipindahtangankan oleh penugasan oleh Peserta sejauh tersedia dalam Penghargaan Kinerja yang berlaku. persetujuan. 4.6 PERAWATAN PENGHASILAN KINERJA YANG DILAKSANAKAN. Atas keputusan Komite Plan153 bahwa persentase dari setiap Penghargaan Kinerja telah diperoleh untuk Periode Kinerja, Peserta yang memperoleh Penghargaan Prestasi tersebut telah diberikan dan siapa (atau sedang) mempekerjakan Perusahaan atau Anak Perusahaannya terus menerus dari Tanggal Hibah, dengan pengecualian yang diatur pada Bagian 4.9 dan Bagian 4.10 ini, berhak, sesuai dengan persyaratan lain dari Rencana ini, untuk pembayaran sesuai dengan syarat dan ketentuan Penghargaan Kinerja mereka. Syarat dan ketentuan tersebut dapat mengizinkan atau mengharuskan pemotongan pajak yang berlaku dikurangkan dari jumlah yang harus dibayar. Penghargaan Kinerja tidak akan menghasilkan atau memiliki nilai apapun untuk Peserta yang tidak bekerja baik di Perusahaan maupun Anak Perusahaan secara terus menerus selama seluruh Periode Kinerja dimana Penghargaan Prestasi tersebut diberikan, kecuali sebagaimana ditentukan pada Bagian 4.9 atau Bagian 4.10 ini. 4.7 DISTRIBUSI. Hutang distribusi sesuai dengan Bagian 4.6 di atas harus dilakukan sesegera mungkin setelah Komite Rencana menentukan Penghargaan Kinerja telah diperoleh kecuali jika ketentuan Bagian 4.8 ini berlaku bagi Peserta. 4.8 DEFERRAL PENERIMAAN DISTRIBUSI AWARD KINERJA. Dengan persetujuan dari Komite Rencana, Peserta yang telah diberi Penghargaan Kinerja dapat mematuhi prosedur yang berlaku kemudian berdasarkan Rencana yang dipilih secara tidak dapat dibatalkan secara tertulis untuk menunda penerimaan semua atau sebagian dari setiap distribusi yang terkait dengan Performance Award tersebut. Syarat dan ketentuan penangguhan tersebut, termasuk namun tidak terbatas pada, jangka waktu, dan bentuk, pemilihan cara dan metode pembayaran rencana dan bentuk di mana jumlah yang ditangguhkan harus dianggap setara dengan bunga atau pembayaran lainnya. Yang akan timbul setelah menunggu pembayaran dan penggunaan dan bentuk Ekuivalen Dividen sehubungan dengan unit berbasis saham yang berasal dari penangguhan tersebut, harus sesuai dengan Rencana Komite. Komite Perencanaan dapat, kapan saja dan dari waktu ke waktu, namun secara prospektif hanya mengubah, memodifikasi, mengubah, menunda atau membatalkan semua dan semua prosedur, parameter, mekanik dan waktu yang berkaitan dengan penangguhan tersebut. Pemilu yang dilakukan sebelum tanggal 31 Desember 2008 untuk menunda penerimaan setiap distribusi yang terkait dengan Penghargaan Kinerja yang berkaitan dengan Periode Kinerja yang berakhir setelah tanggal 31 Desember 2004 tunduk pada ketentuan Lampiran A. 4.9 YANG TIDAK MEMPENGARUHI PENGHENTIAN KERJA. Kecuali untuk Bagian 4.10 ini, satu-satunya pengecualian terhadap persyaratan kerja terus-menerus selama periode Kinerja untuk pemberian Penghargaan Kinerja adalah penghentian pekerjaan Peserta dengan alasan kematian (dalam hal mana Penghargaan Kinerja dapat dipindahtangankan dengan kehendak atau hukum keturunan Dan distribusi hanya kepada penerima manfaat Participant153 yang ditunjuk untuk menerima Penghargaan Kinerja atau kepada perwakilan hukum, ahli waris, atau perwakilan hukum yang berlaku, cacat total dan permanen, dengan persetujuan Komite Rencana, pensiun normal atau terlambat atau pensiun dini, dengan persetujuan Dari Komite Rencana, atau pengalihan eksekutif secara spin-off, dengan persetujuan Komite Rencana, yang terjadi selama Periode Kinerja yang berlaku untuk Penghargaan Kinerja subjek. Dengan demikian, distribusi Penghargaan Kinerja harus dilakukan pada akhir Periode Kinerja, dan persentase Total Performance Award yang akan diperoleh selama Periode Kinerja akan diperoleh dan dibayarkan, namun dalam putaran - off situasi Komite Rencana dapat menetapkan kondisi tambahan, seperti, tanpa membatasi keumuman dari pekerjaan sebelumnya yang terus berlanjut dengan entitas spin-off. Jika pemutusan hubungan kerja tidak memenuhi kriteria yang disebutkan di atas, namun Peserta memiliki paling sedikit 15 tahun bekerja dengan Perusahaan atau Anak Perusahaan atau kombinasi daripadanya, Komite Rencana dapat mengizinkan distribusi persentase (atau bagian daripadanya). ) Dari total Performance Award yang diperoleh untuk Periode Kinerja, sesuai dengan kondisi yang ditentukan oleh Komite Rencana. 4.10 PERUBAHAN DALAM PENGENDALIAN. Jika terjadi Perubahan Kontrol, Periode Kinerja dianggap telah berakhir dan sebagian pro rata dari semua Penghargaan Kinerja yang luar biasa berdasarkan Rencana dianggap telah diperoleh. Secara khusus, jumlah pro rata yang diperoleh akan ditentukan dengan mengalikan 100 dari masing-masing Penghargaan Kinerja dengan pecahan, pembilangnya adalah jumlah bulan yang telah berlalu dalam Periode Kinerja yang berlaku sebelum Perubahan Pengendalian dan penyebutnya. Adalah jumlah total bulan dalam Periode Kinerja. Distribusi jumlah yang dianggap perlu dilakukan dalam waktu sepuluh hari setelah Perubahan Kontrol atau yang lebih lambat jika diberikan dalam perjanjian Pemberian Award yang berlaku, pemilihan penundaan yang terkait atau, jika berlaku, Lampiran A. HAK PENGHARGAAN STOCK 5.1 OPSI TIDAK DAPAT DIPERKIRAKAN NON-KUALIFIKASI. Pilihan Non-Berkualitas yang diberikan dalam Rencana adalah Opsi Saham yang tidak dimaksudkan sebagai Opsi Saham Insentif berdasarkan ketentuan Bagian 422 Kode Etik. Pilihan yang Tidak Berkualitas harus dibuktikan dengan kesepakatan tertulis dalam bentuk seperti itu dan tidak sesuai dengan Rencana sebagai Komite Rencana atas pertimbangannya sendiri setujui dari waktu ke waktu, dimana kesepakatan harus menentukan jumlah saham yang terkait dengan mereka dan harga beli Dari saham tersebut 5.2 OPSI SIFAT INSENTIF. Opsi Saham Insentif yang diberikan dalam Rencana adalah Opsi Saham yang dimaksudkan sebagai opsi saham insentif berdasarkan Bagian 422 dari Pedoman ini, dan Rencana tersebut harus diberikan, kecuali mengenai hak untuk menggunakan opsi setelah pemutusan hubungan kerja, untuk memenuhi syarat Stok Insentif Opsi yang dikeluarkan di bawah ini sebagai opsi saham insentif berdasarkan Bagian 422 Kode Etik. Opsi Saham Insentif tidak diberikan kepada karyawan yang memiliki, atau dianggap berdasarkan Bagian 424 (d) Kode Etik untuk memiliki, persediaan Perusahaan (atau orang tua atau Anak Perusahaan) yang memiliki lebih dari 10 saham Total gabungan kekuatan voting dari semua kelas saham di dalamnya. Nilai Pasar Adil agregat (ditentukan pada saat opsi diberikan) saham yang bersangkutan dengan Opsi Saham Insentif dapat dieksekusi untuk pertama kalinya oleh Peserta selama tahun kalender (berdasarkan semua opsi opsi saham insentif dari Perusahaan atau Setiap orang tua atau Anak Perusahaan) tidak boleh melebihi 100.000 orang. Opsi Saham Insentif harus dibuktikan dengan kesepakatan tertulis dalam bentuk seperti itu dan tidak sesuai dengan Rencana sebagai Komite Rencana atas pertimbangannya sendiri setujui dari waktu ke waktu, dimana perjanjian harus menentukan jumlah saham yang terkait dengan mereka dan harga beli dari Saham tersebut 5.3 PERSYARATAN OPSI. Opsi Saham yang diberikan dalam Rencana ini tunduk pada syarat dan ketentuan sebagai berikut: (a) Periode Opsi. Setiap Opsi Saham akan kedaluwarsa dan semua hak untuk membeli saham di bawahnya akan berhenti tidak lebih dari sepuluh tahun setelah Tanggal Grant atau pada tanggal tersebut sebelum hal tersebut ditetapkan oleh Komite Rencana, atau pada tanggal lain seperti yang ditentukan oleh Rencana ini Dalam hal penghentian pekerjaan, kematian atau reorganisasi. Tidak ada Opsi Saham yang mengizinkan pembelian saham di bawahnya selama tahun pertama setelah Tanggal Grant, kecuali sebagaimana ditentukan dalam Bagian 5.5 ini atau yang ditentukan oleh Komite Rencana. (B) Harga Latihan. Harga pembelian per saham yang harus dibayarkan pada saat pelaksanaan Opsi Saham tidak kurang dari Nilai Pasar Wajar dari Saham Biasa pada Tanggal Penyertaan Opsi Saham. (C) Transferability dan Termination of Options. Selama masa kerja seorang individu yang diberi Opsi Saham, Opsi Saham dapat dilakukan hanya oleh orang tersebut dan hanya jika individu tersebut adalah karyawan Perusahaan atau Anak Perusahaan dan hanya jika Peserta telah dipekerjakan secara terus menerus oleh siapapun. Satu atau kombinasi daripadanya sejak Tanggal Penyertaan Opsi Saham, bagaimanapun, bahwa jika hasil kerja Peserta oleh Perusahaan atau Anak Perusahaan tersebut berakhir, Opsi Saham dapat juga dilakukan sebagai berikut, atau dengan cara lain yang diberikan Oleh Komite Rencana, namun tidak lebih dari sepuluh tahun setelah Tanggal Penandatanganan Opsi Saham, kecuali sebagaimana dimaksud pada ayat (ii) dan ayat (v) di bawah ini: Jika penghentian pekerjaan Peserta terjadi karena alasan normal atau terlambat Pensiun berdasarkan rencana pensiun Perusahaan atau Anak Perusahaan, Opsi Saham Peserta dapat dilakukan dalam waktu lima tahun setelah tanggal pemutusan hubungan kerja tersebut. Jika pemutusan hubungan kerja terjadi karena alasan pensiun dini berdasarkan rencana pensiun Perusahaan atau Anak Perusahaan, atau karena alasan transfer Peserta secara spin-off, atau karena alasan kecacatan total dan tetap, sebagaimana ditentukan oleh Komite Rencana, tanpa masa pensiun, maka Opsi Saham Participant153 tersebut dapat dieksekusi untuk jangka waktu sampai lima tahun setelah tanggal pemutusan hubungan kerja tersebut jika Komite Rencana menyetujui perpanjangan tersebut. Selama masa perpanjangan, hak untuk menggunakan Opsi Saham, jika ada, yang timbul secara angsuran, harus berlanjut kecuali jika Komite Perencanaan memberikan ketentuan lain, jika Opsi Saham adalah Opsi Saham Insentif semua angsuran harus segera dieksekusi dan dilakukan lebih jauh, that the Plan Committee may set additional conditions, such as, without limiting the generality of the foregoing, an agreement to not provide services to a competitor of the Company and its Subsidiaries andor continuous employment with a spin-off entity. If a Participant153s termination of employment occurs by reason of death, then such Participant153s outstanding Stock Options shall all become immediately exercisable and may be exercised within five years after the date of death or the life of the option, whichever is less, but in the case of Non-Qualified Options in no event less than one year after the date of death, unless the Plan Committee provides otherwise. (iii) If a Participant153s termination of employment occurs for any reason other than as specified in Section 5.3(c)(i) or (ii) hereof, the Participant has been employed by the Company or a Subsidiary or any combination for more than 15 years, and if the Plan Committee so approves, then such Participant153s Stock Options may be exercised within a period of up to five years after the date of termination of employment. During the extension period, the right to exercise options, if any, accruing in installments shall continue unless the Plan Committee provides otherwise provided, however, the Plan Committee may set additional conditions. (iv) If a Participant153s termination of employment occurs for any reason other than as specified in Section 5.3(c)(i) or (ii) hereof and the Plan Committee has not approved an extension, then, except as provided below and only with respect to installments that have as of the date of termination already accrued, such Participant153s Stock Options may be exercised within ninety days after the date of such termination of employment except in the case of Participants who would at the time be subject to the provisions of Section 16(b) of the Exchange Act, in which instance the period of exercise shall be two hundred ten days after termination. Notwithstanding the foregoing, those Participants whose employment is terminated because of deliberate and serious disloyal or dishonest conduct in the course of employment that justifies and results in prompt discharge for specific cause under the established policies and practices of the Company as interpreted by the Plan Committee shall have no additional period after termination of employment in which to exercise their options. Examples of such deliberate and serious disloyal or dishonest conduct would include material unlawful conduct, material and conscious falsification or unauthorized disclosure of important records, embezzlement or unauthorized conversion of property, serious violation of conflict of interest or vendor relations policies, and misuse or disclosure of significant trade secrets or other information likely to be of use to the detriment of the Company or its interests. (v) Rights accruing to a Participant under Sections 5.3(c)(i), 5.3(c)(iii) and 5.3(c)(iv) may, upon the death of a Participant subsequent to hisher termination of employment, be exercised by hisher duly designated beneficiary or otherwise by hisher applicable legal representatives, heirs or legatees to the extent vested in and unexercised or perfected by the Participant at the date of hisher death. In the case of Non-Qualified Options, the period for such exercise shall not expire less than one year after the date of the Participant153s death, unless the Plan Committee provides otherwise. (vi) Absence on a leave of absence approved by the Plan Committee shall not be deemed a termination or interruption of continuous employment for the purposes of the Plan. No Stock Option shall be assignable or transferable by the individual to whom it is granted, except that it may be transferable (X) by assignment by the Participant to the extent provided in the applicable option agreement (or as subsequently allowed by the Plan Committee), or (Y) by will or the laws of descent and distribution in accordance with the provisions of this Plan. Upon the death of the Participant an option may only be exercised by such individual153s beneficiary designated to exercise the option or otherwise by hisher applicable legal representatives, heirs or legatees, and only within the specific time period set forth above and only to the extent vested in and unexercised by the Participant at the date of hisher death, except as provided in Section 5.3(c)(ii). In no event, whether by the Participant directly or by hisher proper assignee or beneficiary or other representative, shall any option be exercisable at any time after its expiration date as stated in the option agreement, except as provided in Section 5.3(c)(ii) and (v). When an option is no longer exercisable it shall be deemed for all purposes and without further act to have lapsed and terminated. The Plan Committee may, in its sole discretion, determine solely for the purposes of the Plan that a Participant is permanently and totally disabled, and the acts and decisions of the Plan Committee made in good faith in relation to any such determination shall be conclusive upon all persons and interests affected thereby. (d) Exercise of Options . An individual entitled to exercise Stock Options may, subject to their terms and conditions and the terms and conditions of the Plan, exercise them in whole or in part by delivery of written notice of exercise to the Company at its principal office or such other manner as the Company may direct, specifying the number of whole shares of Common Stock with respect to which the Stock Options are being exercised. Before shares may be issued, payment must be made in full, in legal United States tender, in the amount of the purchase price of the shares to be purchased at the time and any amounts for withholding as provided in Section 10.8 hereof provided, however, in lieu of paying for the exercise price in cash as described above, the individual may pay (subject to such conditions and procedures as the Plan Committee may establish) all or part of such exercise price by tendering (either actually or by attestation) owned and unencumbered shares of Common Stock acceptable to the Plan Committee and having a Fair Market Value on the date of exercise of the Stock Options equal to or less than the exercise price of the Stock Options exercised, with cash, as set forth above, for the remainder, if any, of the purchase price provided, further, that the Plan Committee may permit a Participant to elect to pay the exercise price by authorizing a third party to sell shares of Common Stock (or a sufficient po rtion of the shares) acquired upon exercise of the Stock Options and remit to the Company a sufficient portion of the sale proceeds to pay the entire exercise price and any tax withholding resulting from such exercise. Subject to rules established by the Plan Committee, the withholdings required by Section 10.8 hereof may be satisfied by the Company withholding shares of Common Stock issued on exercise that have a Fair Market Value on the date of exercise of the Stock Options equal to or less than the withholding required by Section 10.8 hereof. (e) Repricing Prohibited . Subject to Sections 5.5, 7.3 and 10.7, outstanding Stock Options granted under this Plan shall not be repriced. 5.4 STOCK APPRECIATION RIGHTS. Stock Appreciation Rights may be granted to Participants either alone (freestanding) or in tandem with other Awards, including Performance Awards, Stock Options and Restricted Stock. Stock Appreciation Rights granted in tandem with Incentive Stock Options must be granted at the same time as the Incentive Stock Options are granted. Stock Appreciation Rights granted in tandem with any other Award may be granted at any time prior to the earlier of the exercise or expiration of such Award. Stock Appreciation Rights granted in tandem with Stock Options shall terminate and no longer be exercisable upon the termination or exercise of the related Stock Options. The Plan Committee shall establish the terms and conditions applicable to any Stock Appreciation Rights, which terms and conditions need not be uniform but may not be inconsistent with the terms of the Plan. Freestanding Stock Appreciation Rights shall generally be subject to terms and conditions substantially similar to those described in Section 5.3 for Stock Options, including the requirements of 5.3(a), (b) and (e) regarding the maximum period, minimum price and prohibition on repricing. 5.5 CHANGE IN CONTROL. In the event of a Change in Control: (a) If the Company is the surviving entity and any adjustments necessary to preserve the value of the Participant153s outstanding Stock Options and Stock Appreciation Rights have been made, or the Company153s successor at the time of the Change in Control irrevocably assumes the Company153s obligations under this Plan or replaces the Participant153s outstanding Stock Options and Stock Appreciation Rights with stock options and stock appreciation rights having substantially the same value and having terms and conditions no less favorable to the Participant than those applicable to the Participant153s Stock Options and Stock Appreciation Rights immediately prior to the Change in Control (collectively, an Equitable Assumption or Replacement), then such Awards or their replacement awards shall become immediately exercisable in full only if within two years after the Change in Control the Participant153s employment: (i) is terminated without Cause, which for purposes of this Section 5.5 shall mean (x) willful and continued failure to substantially perform the Participant153s duties (other than failure resulting from incapacity due to physical or mental illness) after receipt of a written demand for such performance specifically identifying such failure, or (y) the willful engaging by the Participant in illegal conduct or gross misconduct that is materially and demonstrably injurious to the Company or its successor (ii) terminates with Good Reason, which for purposes of this Section 5.5 shall mean any material diminution of the Participant153s position, authority, duties or responsibilities (including the assignment of duties materially inconsistent with the Participant153s position or a material increase in the time Participant is required by the Company or its successor to travel), any reduction in salary or in the Participant153s aggregate bonus and incentive opportunities, any material reduction in the aggregate value of the Partic ipant153s employee benefits (including retirement, welfare and fringe benefits), or relocation to a principal work site that is more than 40 miles from the Participant153s principal work site immediately prior to the Change in Control or (iii) terminates under circumstances that entitle the Participant to accelerated exercisability under any individual employment agreement between the Participant and the Company, a Subsidiary, or any successor thereof. (b) If there is no Equitable Assumption or Replacement, then without any action by the Plan Committee or the Board, each outstanding Stock Option and Stock Appreciation Right granted under the Plan that has not been previously exercised or otherwise lapsed and terminated shall become immediately exercisable in full provided, however, that the Plan Committee, in its sole discretion, and without the consent of any Participant affected thereby, may determine that a cash payment shall be made promptly following the Change in Control in lieu of all or any portion of the outstanding Stock Options and Stock Appreciation Rights granted under this Plan. The amount payable with respect to each share of Common Stock subject to an affected Stock Option and each affected Stock Appreciation Right shall equal the excess of the Fair Market Value of a share of Common Stock immediately prior to such Change in Control over the exercise price of such Stock Option or Stock Appreciation Right. After such a determination by the Plan Committee, each Stock Option and Stock Appreciation Right, with respect to which a cash payment is to be made shall terminate, and the Participant shall have no further rights thereunder except the right to receive such cash payment. RESTRICTED STOCK AND RESTRICTED STOCK UNITS 6.1 RESTRICTION PERIOD. At the time an Award of Restricted Stock or Restricted Stock Units is made, the Plan Committee shall establish the terms and conditions applicable to such Award, including the period of time (the Restriction Period) during which certain restrictions established by the Plan Committee shall apply to the Award. The Restriction Period shall not be less than three years, provided, however, that for Awards to non-employee directors of the Company, the terms of the Award may allow for the ratable release of the restrictions over a minimum period of one year. Each such Award, and designated portions of the same Award, may have a different Restriction Period, at the discretion of the Plan Committee. Except as permitted or pursuant to Sections 6.4, 6.5 or 10.7 hereof, the Restriction Period applicable to a particular Award shall not be changed. 6.2 RESTRICTED STOCK TERMS AND CONDITIONS. Restricted Stock shall be represented by a stock certificate registered in the name of the Participant granted such Restricted Stock. Such Participant shall have the right to enjoy all shareholder rights during the Restriction Period except that: (a) The Participant shall not be entitled to delivery of the stock certificate until the Restriction Period shall have expired. (b) The Company may either issue shares subject to such restrictive legends andor stop-transfer instructions as it deems appropriate or provide for retention of custody of the Common Stock during the Restriction Period. (c) The Participant may not sell, transfer, pledge, exchange, hypothecate or otherwise dispose of the Common Stock during the Restriction Period, except that it may be transferable by assignment by the Participant to the extent provided in the applicable Restricted Stock Award agreement. (d) A breach of the terms and conditions established by the Plan Committee with respect to the Restricted Stock shall cause a forfeiture of the Restricted Stock, and any dividends withheld thereon. (e) Dividends payable in cash or in shares of stock or otherwise may be either currently paid or withheld by the Company for the Participant153s account. At the discretion of the Plan Committee, interest may be paid on the amount of cash dividends withheld, including cash dividends on stock dividends, at a rate and subject to such terms as determined by the Plan Committee. Provided, however, and the provisions of Section 6.4 to the contrary notwithstanding, in lieu of the foregoing, the Plan Committee may provide that no shares of Common Stock be issued until the Restriction Period is over and further provide that the shares of Common Stock issued after the Restriction Period has been completed, be issued in escrow andor be legended and that the Common Stock be subject to restrictions including the forfeiture of all or a part of the shares. 6.3 PAYMENT FOR RESTRICTED STOCK. A Participant shall not be required to make any payment for Restricted Stock unless the Plan Committee so requires. 6.4 FORFEITURE PROVISIONS. Subject to Section 6.5, in the event a Participant terminates employment during a Restriction Period for the Participant153s Restricted Stock or Restricted Stock Units, such Awards will be forfeited provided, however, that the Plan Committee may provide for proration or full payout in the event of (a) a termination of employment because of normal or late retirement, (b) with the consent of the Plan Committee, early retirement or spin-off, (c) death, (d) total and permanent disability, as determined by the Plan Committee, (e) with the consent of the Plan Committee, termination of employment after 15 years of employment with the Company or a Subsidiary or any combination thereof, or (f) in the case of a non-employee director, a departure from the Board following the completion of the director153s term of office, all subject to any other conditions the Plan Committee may determine. Any Restricted Stock Unit that is not, in all cases, due and payable not later than the 15th day of the third month following the calendar year, or if later, the Company153s fiscal year, in which the Restricted Stock Unit ceases to be subject to a substantial risk of forfeiture within the meaning Section 409A of the Code, will be subject to the provisions of Appendix A. 6.5 CHANGE IN CONTROL. In the event of a Change in Control, restrictions on a fraction of each Participant153s outstanding Restricted Stock and Restricted Stock Units granted under the Plan will lapse. The numerator of such fraction with respect to an Award shall be the number of months that have elapsed in the applicable Restriction Period prior to the Change in Control and the denominator shall be the number of months in such Restriction Period. Distribution of any shares not previously distributed shall be made within ten days after the Change in Control or later if so provided in the applicable Award agreement, a related deferral election or if applicable, Appendix A. 6.6 DEFERRAL OF RECEIPT OF RESTRICTED STOCK UNITS. With the consent of the Plan Committee, a Participant who has been granted a Restricted Stock Unit may by compliance with the then applicable procedures under the Plan irrevocably elect in writing to defer receipt of all or any part of any distribution associated with that Award. The terms and conditions of any such deferral, including but not limited to, the period of time for, and form of, election the manner and method of payout the plan and form in which the deferred amount shall be held the interest equivalent or other payment that shall accrue pending its payout and the use and form of Dividend Equivalents in respect of stock-based units resulting from such deferral, shall be as determined by the Plan Committee. The Plan Committee may, at any time and from time to time, but prospectively only, amend, modify, change, suspend or cancel any and all of the rights, procedures, mechanics and timing parameters relating to such deferrals. An election made prior to December 31, 2008 to defer receipt of any distribution associated with a Restricted Stock Unit relating to a Restriction Period ending after December 31, 2004 is subject to the provisions of Appendix A. SHARES OF STOCK SUBJECT TO THE PLAN MAXIMUM AWARDS 7.1 SHARES AVAILABLE. Subject to the other provisions of this Article VII, the total number of shares available for grant as Awards pursuant to the Plan shall not exceed in the aggregate 81,000,000 shares of Common Stock. (This limit includes the 44,000,000 shares that were originally made available under this Plan.) Solely for the purpose of applying the limitation in the preceding sentence and subject to the replenishment and adjustment provisions of Sections 7.2 and 7.3 below: (a) each Award granted under this Plan prior to May 19, 2004 (the date the Plan was last approved by shareholders) shall reduce the number of shares available for grant by one share for every one share granted (b) each Stock Option or Stock Appreciation Right granted under this Plan on or after May 19, 2004 shall reduce the number of shares available for grant by one share for every one share granted (c) each Award granted under this Plan on or after May 19, 2004 that may result in the issuance of Common Stock, other than a Stock Option, Stock Appreciation Right, or Dividend Equivalent, shall reduce the number of shares available for grant by two shares for every one share granted (d) each Dividend Equivalent that the Corporati on has determined may result in the issuance of Common Stock shall reduce the number of shares available for grant by two shares for every share that would be issuable if the accumulated value of the Dividend Equivalent were converted into Common Stock at Fair Market Value, but such reduction shall only occur if the corresponding dividends payable to shareholders were paid in cash and (e) if Awards are granted in tandem, so that only one of the Awards may actually be exercised, only the Award that results in the greater reduction in the number of shares available for grant shall result in a reduction of the shares so available, and the other Award shall be disregarded. Shares available for grant under the Plan may be authorized and unissued shares, treasury shares held by the Company or shares purchased or held by the Company or a Subsidiary for purposes of the Plan, or any combination thereof. Shares issued upon assumption or conversion of outstanding stock-based awards granted by an acquired company shall be disregarded in applying the limitation set forth in this Section 7.1. 7.2 SHARES AGAIN AVAILABLE. In the event all or any portion of an Award is forfeited or cancelled, expires, is settled for cash, or otherwise does not result in the issuance of all or a portion of the shares subject to the Award in connection with the exercise or settlement of such Award, the number of shares not issued that were deducted for such Award pursuant to Section 7.1 above shall be restored and may again be used for Awards under the Plan. If a Participant uses shares of Common Stock to pay a purchase or exercise price or tax withholding, either by having the Company withhold shares or tendering shares (either actually or by attestation), an equal number of such shares shall be restored and may again be used for Awards under the Plan. In addition, shares may be reacquired on the open market by the Company using the Cash Proceeds received by the Company from the exercise on or after May 19, 2004 of Stock Options granted under the Plan to restore an equal number of shares that may again be used for Awards under the Plan provided, however, that the number of shares so restored does not exceed the number that could be purchased at Fair Market Value with the Cash Proceeds on the date of exercise of the Stock Option giving rise to such Cash Proceeds. If one of the events described in the first sentence of the preceding paragraph occurs with respect to an award that was granted under a Prior Plan (as defined in Section 10.11) but was outstanding on May 19, 2004, the total number of shares available for grant under this Plan shall be increased by one share for each share subject to that award that is not issued. Notwithstanding anything in this Section 7.2 to the contrary and solely for purposes of determining whether shares are available for the issuance of Incentive Stock Options, the maximum aggregate number of shares that may be granted under this Plan shall be determined without regard to any shares restored pursuant to this Section 7.2 that, if taken into account, would cause the Plan to fail the requirement under Code Section 422 that the Plan designate the maximum aggregate number of shares that may be issued. 7.3 RELEVANT CHANGE ADJUSTMENTS. In the event of any equity restructuring (within the meaning of Financial Accounting Standards No. 123 (revised 2004)) other than: (1) any distribution of securities or other property by the Company to shareholders in a spin-off or split-up that does not qualify as a tax-free spin-off or split-up under Section 355 of the Code (or any successor provision of the Code) or (2) any cash dividend (including extraordinary cash dividends), appropriate adjustments in the number of shares available for grant and in any outstanding Awards, including adjustments in the size of the Award and in the exercise price per share of Stock Options and Stock Appreciation Rights, shall be made by the Plan Committee to give effect to such equity restructuring to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan. No such adjustment shall be required to reflect the events described in clauses (1) and (2) above, or any other change in capitalization that does not constitute an equity restructuring, however such adjustment may be made: (x) if necessary to comply with Section 409A of the Code, the adjustment qualifies as a substitution or assumption under Treasury Regulation Section 1.424-1 and (y) the Plan Committee affirmatively determines, in its discretion, that such an adjustment is appropriate. 7.4 MAXIMUM PER PARTICIPANT AWARD. During any consecutive thirty-six month period, no Participant may receive Awards that, in the aggregate, could result in that Participant receiving, earning or acquiring, subject to the adjustments described in Section 7.3: (a) Stock Options and Stock Appreciation Rights for, in the aggregate, more than 4,000,000 shares of Common Stock (b) Performance Shares, Restricted Stock and Restricted Stock Units for, in the aggregate, more than 700,000 shares of Common Stock (c) A number of Dividend Equivalents greater than the number of shares of Common Stock the Participant could receive, earn or acquire in connection with the related stock-based Awards granted to the Participant and (d) Performance Units with a value exceeding 15,000,000. In addition, during any consecutive thirty-six month period, no Participant who is a non-employee director may receive Awards that, in the aggregate, could result in that Participant receiving, earning or acquiring, subject to the adjustments described in Section 7.3, more than 75,000 shares of Common Stock. For purposes of applying the limits described in this Section 7.4, if Awards subject to the same limit are granted in tandem, so that only one of the Awards may actually be exercised, only one of the Awards shall be counted. 8.1 PLAN COMMITTEE. The Plan will be administered by a committee of two or more members of the Compensation Committee of the Board who are appointed from time to time by the Board and who are outside, independent Board members who, in the judgment of the Board, are qualified to administer the Plan as contemplated by (a) Rule 16b-3 of the Securities and Exchange Act of 1934 (or any successor rule), (b) Section 162(m) of the Code, as amended, and the regulations thereunder (or any successor Section and regulations), and (c) any rules and regulations of a stock exchange on which Common Stock is traded. Any member of the committee administering the Plan who does not satisfy or ceases to satisfy the qualifications set out in the preceding sentence may recuse himself or herself from any vote or other action taken by such committee. The Board may, at any time and in its complete discretion, remove any member of such committee and may fill any vacancy on such committee. 8.2 POWERS. The Plan Committee shall have and exercise all of the powers and responsibilities granted expressly or by implication to it by the provisions of the Plan. Subject to and as limited by such provisions, the Plan Committee may from time to time enact, amend and rescind such rules, regulations and procedures with respect to the administration of the Plan as it deems appropriate or convenient. 8.3 INTERPRETATION. All questions arising under the Plan, any Award agreement, or any rule, regulation or procedure adopted by the Plan Committee shall be determined by the Plan Committee, and its determination thereof shall be conclusive and binding upon all parties. 8.4 COMMITTEE PROCEDURE. Any action required or permitted to be taken by the Plan Committee under the Plan shall require the affirmative vote of a majority of a quorum of the members of the Plan Committee. A majority of all members of the Plan Committee shall constitute a quorum for Plan Committee business. The Plan Committee may act by written determination instead of by affirmative vote at a meeting, provided that any written determination shall be signed by all members of the Plan Committee, and any such written determination shall be as fully effective as a majority vote of a quorum at a meeting. 8.5 DELEGATION. The Plan Committee may delegate all or any part of its authority under the Plan to a subcommittee of directors andor officers of the Company for purposes of determining and administering Awards granted to persons who are not then subject to the reporting requirements of Section 16 of the Exchange Act. REDUCTION IN AWARDS 9.1 WHEN APPLICABLE. Anything in this Plan to the contrary notwithstanding, the provisions of this Article IX shall apply to a Participant if an independent auditor selected by the Plan Committee (the Auditor) determines that each of (a) and (b) below are applicable. (a) Payments or distributions hereunder, determined without application of this Article IX, either alone or together with other payments in the nature of compensation to the Participant which are contingent on a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the assets of the Company, or otherwise (but after any elimination or reduction of such payments under the terms of the Company153s Officer Income Continuance Policy Statement, as amended), would result in any portion of the payments hereunder being subject to an excise tax on excess parachute payments imposed under Section 4999 of the Code. (b) The excise tax imposed on the Participant under Section 4999 of the Code on excess parachute payments, from whatever source, would result in a lesser net aggregate present value of payments and distributions to the Participant (after subtraction of the excise tax) than if payments and distributions to the Participant were reduced to the maximum amount that could be made without incurring the excise tax. 9.2 REDUCED AMOUNT. Under this Article IX the payments and distributions under this Plan shall be reduced (but not below zero) so that the present value of such payments and distributions shall equal the Reduced Amount. The Reduced Amount (which may be zero) shall be an amount expressed in present value which maximizes the aggregate present value of payments and distributions under this Plan which can be made without causing any such payment to be subject to the excise tax under Section 4999 of the Code. The determinations and reductions under this Section 9.2 shall be made after eliminations or reductions, if any, have been made under the Company153s Officer Income Continuance Policy Statement, as amended. 9.3 PROCEDURE. If the Auditor determines that this Article IX is applicable to a Participant, it shall so advise the Plan Committee in writing. The Plan Committee shall then promptly give the Participant notice to that effect together with a copy of the detailed calculation supporting such determination which shall include a statement of the Reduced Amount. Such notice shall also include a description of which and how much of the Awards shall be eliminated or reduced (as long as their aggregate present value equals the Reduced Amount). For purposes of this Article IX, Awards shall be reduced in the following order: (1) Stock Options with an exercise price above the then Fair Market Value of a share of Common Stock that have a positive value for purposes of Section 280G of the Code, as determined under applicable IRS guidance (2) pro rata among Awards that constitute deferred compensation subject to Section 409A of the Code and (3) if a further reduction is necessary to reach the Reduced Amount, among the Awards that are not subject to Section 409A of the Code. Present value shall be determined in accordance with Section 280G of the Code. All the foregoing determinations made by the Auditor under this Article IX shall be made as promptly as practicable after it is determined that excess parachute payments (as defined in Section 280G of the Code) will be made to the Participant if an elimination or reduction is not made. As promptly as practicable, the Company shall provide to or for the benefit of the Participant such amounts and shares as are then due to the Participant under this Plan and shall promptly provide to or for the benefit of the Participant in the future such amounts and shares as become due to the Participant under this Plan. 9.4 CORRECTIONS. As a result of the uncertainty in the application of Section 280G of the Code at the time of the initial determination by the Auditor hereunder, it is possible that payments or distributions under this Plan will have been made which should not have been made (Overpayment) or that additional payments or distributions which will have not been made could have been made (Underpayment), in each case, consistent with the calculation of the Reduced Amount hereunder. In the event that the Auditor, based upon the assertion of a deficiency by the Internal Revenue Service against the Company or the Participant which the Auditor believes has a high probability of success, determines that an Overpayment has been made, any such Overpayment shall be treated for all purposes as a loan to the Participant which the Participant shall repay together with interest at the applicable Federal rate provided for in Section 7872(f)(2) of the Code provided, however, that no amount shall be payable by the Participant if and to the extent such payment would not reduce the amount which is subject to the excise tax under Section 4999 of the Code. In the event that the Auditor, based upon controlling precedent, determines that an Underpayment has occurred, any such Underpayment shall be promptly paid to or for the benefit of the Participant together with interest at the applicable Federal rate provided for in Section 7872(f)(2)(A) of the Code. 9.5 NON-CASH BENEFITS. In making its determination under this Article IX, the value of any non-cash benefit shall be determined by the Auditor in accordance with the principles of Section 280G(d)(3) of the Code. 9.6 DETERMINATIONS BINDING. All determinations made by the Auditor under this Article IX shall be binding upon the Company, the Plan Committee and the Participant. 10.1 AMENDMENT OR TERMINATION OF PLAN. The Board may at any time amend, suspend, discontinue or terminate the Plan (including the making of any necessary enabling, conforming and procedural amendments to the Plan to authorize and implement the granting of Incentive Stock Options or other income tax preferred stock options which may be authorized by federal law subsequent to the effective date of this Plan) provided, however, that no amendment by the Board shall, without further approval of the shareholders of the Company, increase the total number of shares of Common Stock which may be made subject to the Plan, except as provided at Section 7.3 hereof, or make any other change for which shareholder approval is required by law or under the applicable rules of the New York Stock Exchange. No action taken pursuant to this Section 10.1 of the Plan shall, without the consent of the Participant, adversely affect any Awards which have been previously granted to a Participant except pursuant to Section 10.5 of the Plan. 10.2 NON-ALIENATION OF RIGHTS AND BENEFITS. Except as expressly provided herein, no right or benefit under the Plan shall be subject to anticipation, alienation, sale, assignment, pledge, encumbrance or charge and any attempt to anticipate, alienate, sell, assign, pledge, encumber or charge the same shall be void. No right or benefit hereunder shall in any manner be liable for or subject to the debts, contracts, liabilities or torts of the person entitled to such right or benefit. If any Participant or beneficiary hereunder should become bankrupt or attempt to anticipate, alienate, sell, assign, pledge, encumber or charge any right or benefit hereunder (other than as expressly provided herein), then such right or benefit shall, in the sole discretion of the Plan Committee, cease and in such event the Company may hold or apply the same or any or no part thereof for the benefit of the Participant or beneficiary, hisher spouse, children or other dependents or any of them in any such manner and in such proportion as the Plan Committee in its sole discretion may deem proper. 10.3 NO RIGHTS AS SHAREHOLDER. The granting of Awards under the Plan shall not entitle a Participant or any other person succeeding to hisher rights, to any dividend, voting or other right as a shareholder of the Company unless and until the issuance of a stock certificate to the Participant or such other person pursuant to the provisions of the Plan and then only subsequent to the date of issuance thereof. 10.4 LIMITATION OF LIABILITY OR OBLIGATION OF THE COMPANY. As illustrative only of the limitations of liability or obligation of the Company and not intended to be exhaustive thereof, nothing in the Plan shall be construed: to be evidence of any agreement or understanding, express or implied, that the Company or any Subsidiary will employ any Participant in any particular position at any particular rate of compensation or for any particular period of time. Payments and other benefits received by a Participant under an Award shall not be deemed part of a Participant153s regular, recurring compensation for purposes of any termination, indemnity or severance pay laws and shall not be included in, nor have any effect on, the determination of benefits under any other employee benefit plan, contract or similar arrangement provided by the Company or any Subsidiary, unless expressly so provided by such other plan, contract or arrangement or the Plan Committee determines that an Award or portion of an Award should be included to reflect competitive compensation practices or to recognize that an Award has been made in lieu of a portion of competitive cash compensation. 10.5 GOVERNMENT REGULATIONS. Notwithstanding any other provisions of the Plan seemingly to the contrary, the obligation of the Company with respect to Awards granted under the Plan shall at all times be subject to any and all applicable laws, rules and regulations and such approvals by any government agencies as may be required or deemed by the Board or Plan Committee as reasonably necessary or appropriate for the protection of the Company. In connection with any sale, issuance or transfer hereunder, the Participant acquiring the shares shall, if requested by the Company, give assurances satisfactory to counsel of the Company that the shares are being acquired for investment and not with a view to resale or distribution thereof and assurances in respect of such other matters as the Company may deem desirable to assure compliance with all applicable legal requirements. 10.6 NON-EXCLUSIVITY OF THE PLAN. Neither the adoption of the Plan by the Board nor the submission of the Plan to shareholders of the Company for approval shall be construed as creating any limitations on the power or authority of the Board to adopt such other or additional incentive or other compensation arrangements of whatever nature as the Board may deem necessary or desirable or preclude or limit the continuation of any other plan, practice or arrangement for the payment of compensation or fringe benefits to employees generally, or to any class or group of employees, which the Company or any Subsidiary now has lawfully put into effect, including, without limitation, any retirement, pension, savings, profit sharing or stock purchase plan, insurance, death and disability benefits, and executive short term incentive plans. 10.7 REORGANIZATION. In case the Company is merged or consolidated with another corporation, or in case the property or stock of the Company is acquired by another corporation, or in case of a separation, reorganization or liquidation of the Company (for purposes hereof any such occurrence being referred to as an Event), the Plan Committee or a comparable committee of any corporation assuming the obligations of the Company hereunder, shall either: (a) make appropriate provision for the protection of any outstanding stock-based Awards granted thereunder by the substitution on an equitable basis of appropriate stock, stock units, stock options or stock appreciation rights of the Company, or of the merged, consolidated or otherwise reorganized corporation which will be issuable in respect to the Awards. Stock to be issued pursuant to such substitute awards shall be limited so that the excess of the aggregate fair market value of the shares subject to such substitute awards immediately after such substitution over the purchase price thereof (if any) is not more than the excess of the aggregate fair market value of the shares subject to such substitute awards immediately before such substitution over the purchase price thereof (if any) or (b) upon written notice to the Participant, declare that all Performance Awards granted to the Participant are deemed earned, that the Restriction Period of all Restricted Stock and Restricted Stock Units has been eliminated and that all outstanding Stock Options and Stock Appreciation Rights shall accelerate and become exercisable in full but that all outstanding Stock Options and Stock Appreciation Rights, whether or not exercisable prior to such acceleration, must be exercised within the period of time set forth in such notice or they will terminate . In connection with any declaration pursuant to this Section 10.7(b), the Plan Committee may, but shall not be obligated to, cause a cash payment to be made to each Participant who holds a Stock Option or Stock Appreciation Right that is terminated in an amount equal to the product obtained by multiplying (x) the amount (if any) by which the Event Proceeds Per Share (as hereinafter defined) exceeds the exercise price per share covered by such Stock Option times (y) the number of shares of Common Stock covered by such Stock Option or Stock Appreciation Right. For purposes of this Section 10.7(b), Event Proceeds Per Share shall mean the cash plus the fair market value, as determined in good faith by the Plan Committee, of the non-cash consideration to be received per share by the shareholders of the Company upon the occurrence of the Event. 10.8 WITHHOLDING TAXES, ETC. All distributions under the Plan shall be subject to any required withholding taxes and other withholdings and, in case of distributions in Common Stock, the Participant or other recipient may, as a condition precedent to the delivery of Common Stock, be required to pay to hisher participating employer the excess, if any, of the amount of required withholding over the withholdings, if any, from any distributions in cash under the Plan. All or a portion of such payment may, in the discretion of the Plan Committee and upon the election of the Participant, be made (a) by withholding from shares that would otherwise be delivered to the Participant a number of shares sufficient to satisfy the remaining required tax withholding or (b) by tendering (either actually or by attestation) owned and unencumbered shares of Common Stock acceptable to the Plan Committee and having a Fair Market Value on the date of tender equal to or less than the remaining required tax withholding. No distribution under the Plan shall be made in fractional shares of Common Stock, but the proportional market value thereof shall be paid in cash. 10.9 GENERAL RESTRICTION. Each Award shall be subject to the requirement that, if at any time the Board shall determine, in its discretion, that the listing, registration or qualification of the shares subject to such option andor right upon any securities exchange or under any state or federal law, or the consent or approval of any government regulatory body, is necessary or desirable as a condition of, or in connection with the granting of such Award or the issue or purchase of shares respectively thereunder, such Award may not be exercised in whole or in part unless such listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Board. 10.10 USE OF PROCEEDS. The proceeds derived by the Company from the sale of the stock pursuant to Awards granted under the Plan shall constitute general funds of the Company. 10.11 PRIOR PLANS. Notwithstanding the adoption of this Plan by the Board, the Company153s Executive Long Term Incentive Plan of 1981 and the Director Stock Option Plan of 1995, as the same have been amended from time to time (the Prior Plans), shall remain in effect, and all grants and awards heretofore made under the Prior Plans shall be governed by the terms of the Prior Plans. The Plan Committee shall not, however, make any additional grants pursuant to the Prior Plans. 10.12 DURATION OF PLAN. This Plan shall remain in effect until the earliest of the following events occurs: (a) distribution of all shares of Common Stock subject to the Plan, (b) termination of this Plan pursuant to Section 10.1 hereof, or (c) May 19, 2014 provided, however, that Awards made before the termination or expiration of this Plan may be exercised, vested, settled or otherwise effectuated after such date in accordance with the terms of such Awards. 10.13 SEVERABILITY. In the event any provision of this Plan shall be held to be illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of this Plan, and this Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 10.14 GOVERNING LAW. To the extent that federal laws do not otherwise control, this Plan and all determinations made and actions taken pursuant to this Plan shall be governed by the laws of Minnesota and construed accordingly. 10.15 HEADINGS. The headings of the Articles and their subparts in this Plan are for convenience of reading only and are not meant to be of substantive significance and shall not add to or detract from the meaning of such Article or subpart to which it refers. 10.16 STOCK CERTIFICATES. Notwithstanding anything in the Plan to the contrary, to the extent the Plan provides for the issuance of stock certificates to reflect the issuance of shares of Common Stock or Restricted Stock, the issuance may be effected on a non-certificated basis, to the extent not prohibited by applicable law or the applicable rules of any stock exchange on which the Common Stock is traded. A-1 PURPOSE AND EFFECT . This Appendix A to the Target Corporation Long-Term Incentive Plan modifies the terms of any deferred Performance Award and any Restricted Stock Unit that is subject to Section 409A of the Code that was awarded prior to December 31, 2008 and that is paid or payable after December 31, 2008. The provisions of this Appendix A will supersede any inconsistent terms of any award that is covered by this Appendix A. Awards covered by this Appendix A (collectively referred to herein as Appendix A Awards) include: (a) Any Performance Award deferred prior to December 31, 2008 for a Performance Period ending after December 31, 2004 (Deferred Performance Share Unit) (b) Any Restricted Stock Unit (other than a Deferred Restricted Stock Unit defined below) for which distribution is not, in all cases, due and payable not later than the 15th day of the third month following the calendar year, or if later, the Company153s fiscal year, in which the Restricted Stock Unit ceases to be subject to a substant ial risk of forfeiture within the meaning of Section 409A of the Code and (c) Any Restricted Stock Unit relating to a Restriction Period ending after December 31, 2004 for which an election was made prior to December 31, 2008 to defer receipt of any distribution associated with such Restricted Stock Unit (Deferred Restricted Stock Unit). A-2 DEFINITIONS . The capitalized terms in this Addendum that are not defined below, shall have the same meaning as in the Agreement, or, if not defined in the Agreement, as defined in the Plan. (a) Company . For purposes of this Addendum, Company includes any person that would be treated as a single employer with the Company under Section 414(b) or 414(c) of the Code. (b) Disabled . An employee Participant will be Disabled if, by reason of any medically-determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve months, Participant (i) is unable to engage in any substantial gainful activity or (ii) is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Company. An employee Participant will be deemed to be Disabled if he or she is determined to be totally disabled by the Social Security Administration. (c) Termination of Employment . For purposes of determining an employee Participant153s entitlement to payment of an Appendix A Award, Termination of Employment means a severance of such Participant153s employment relationship with the Company, for any reason. For purposes of determining when a distribution will be made under Appendix A, a Termination of Employment will be deemed to occur if, based on the relevant facts and circumstances to the Participant, the Company and Participant reasonably anticipate that future services to be performed by the Participant for the Company will permanently decrease to no more than 20 of the average level of services performed over the immediately preceding 36-month period. A bona fide leave of absence that is six months or less, or during which an individual retains a reemployment right, will not cause a Termination of Employment. In the case of a leave of absence without a right of reemployment that exceeds the time periods described in this paragraph, a Termination of Employment will be deemed to occur once the leave of absence exceeds six months. Notwithstanding the foregoing, a Termination of Employment shall not occur unless such termination also qualifies as a separation from service, as defined under Section 409A of the Code and related guidance thereunder. (d) Trust . Trust means the Target Corporation Deferred Compensation Trust, established by agreement dated January 1, 2005, by and between the Company and State Street Bank and Trust Company, as amended, or similar trust agreement. A-3 PAYMENT OF EMPLOYEE PARTICIPANT153S RESTRICTED STOCK UNITS . The vested amount of an employee Participant153s Restricted Stock Units and Deferred Restricted Stock Units shall convert to shares of Common Stock and shall be issued to or on behalf of the Participant upon the earlier of the following: (a) the employee Participant153s death (b) the date the employee Participant becomes Disabled (c) for a Participant153s Deferred Restricted Stock Units, the later of the Vesting Date or the first day of the month next following the date that is six (6) months after the employee Participant153s Termination of Employment and for a Participant153s Restricted Stock Units that are not Deferred Restricted Stock Units, the earlier of the Vesting Date or the first day of the month next following the date that is six (6) months after the employee Participant153s Termination of Employment or (d) the termination and liquidation of employee Participant153s Restricted Stock Units or Deferred Restricted Stock Units under Section A-7 below. Payments under Paragraphs (a), (b) and (c) will be made within 90 days of such distribution event and payment on account of Paragraph (d) will be made in accordance with Section A-7. A-4 PAYMENT OF NON-EMPLOYEE DIRECTOR PARTICIPANT153S RESTRICTED STOCK UNITS . The vested amount of a non-employee director Participant153s Restricted Stock Units shall convert to shares of Common Stock and shall be issued to or on behalf of the Participant upon the earlier of the following: (a) the date of the Participant153s death or (b) the date the non-employee director Participant ceases to be a member of the Board of Directors of the Company, provided the Participant has ceased all contractual relationships as an independent contractor with the Company and has experienced a separation from service under Section 409A of the Code, provided further, if the Participant is a specified employee, as defined under Section 409A of the Code, on the date of his or her separation from service, payment will be suspended for six (6) months following the Participant153s separation from service, or, if earlier, until the Participant153s death. A-5 PAYMENT OF DEFERRED PERFORMANCE AWARD . The vested amount of the percentage of a Participant153s Deferred Performance Share Units shall convert to shares of Common Stock and shall be issued to or on behalf of a Participant as soon as practicable, but not more than 90 days, after the later of the following: (a) the end of the Performance Period or (b) the first of the following events to occur: A-6 FUNDING UPON A CHANGE IN CONTROL . In the event a Change in Control causes the Trust to be funded, the Company shall: (a) determine the amount of the Company153s obligation to Participants who are entitled to a distribution of Appendix A Awards, by multiplying the number of Units earned as of the Change in Control by the Fair Market Value of one share of Common Stock on the date of the Change in Control (b) credit the amounts determined in paragraph (a) to a bookkeeping account in the name of each applicable Participant (c) on and after the date of the Change in Control, credit to such bookkeeping accounts investment earnings at an annual rate equal to the sum of the 10-Year United States Treasury Note rate plus 2. The 10-Year United States Treasury Note rate will be determined on the date of the Change in Control, or if no such rate is available on that date, the immediately preceding date such rate is available, and such rate will be reset each calendar quarter as necessary and (d) transfer cash or other property to t he Trust as provided under the Trust. Such transfer shall be made to the extent permitted by, subject to, and in accordance with, the terms of the Trust. A-7 AWARD TERMINATION AND LIQUIDATION ON ACCOUNT OF A CHANGE IN CONTROL . Upon a Change in Control the Appendix A Awards will terminate and payment of all amounts under such Awards will be accelerated if and to the extent provided in this Section A-7. (a) The Appendix A Awards will be terminated effective as of the first date on which there has occurred both (i) a Change in Control under Section 2.4(a) and (ii) a funding of the Trust on account of such Change in Control (referred to herein as the Appendix A termination effective date) unless, prior to such Appendix A termination effective date the Board affirmatively determines that the Appendix A Awards will not be terminated as of such effective date. The Board will be deemed to have taken action to irrevocably terminate the Appendix A Awards as of the Appendix A termination effective date by its failure to affirmatively determine that the Appendix A Awards will not terminate as of such date. (b) The determination by the Board under paragraph (a) constitutes a determination that such termination will satisfy the requirements of Section 409A of the Code, including an agreement by the Company that it will take such additional action or refrain from taking such action as may be necessary to satisfy the requirements necessary to terminate and liquidate the Appendix A Awards under paragraph (c) below. (c) In the event the Board does not affirmatively determine not to terminate the Appendix A Awards as provided in paragraph (a), such termination shall be subject to either (1) or (2) as follows: 1. If the Change in Control qualifies as a change in control event under Section 409A of the Code, payment of all Appendix A Awards will be accelerated and made in a lump sum as soon as administratively practicable but not more than 90 days following the Appendix A termination effective date, provided the requirements of Treasury Regulation Section 1.409A-3(j)(4)(ix)(B) have been satisfied. 2. If the Change in Control does not qualify as a change in control event for purposes of Section 409A of the Code, payment of all Appendix A Awards will be accelerated and made in a lump sum as soon as administratively practicable but not more than 60 days following the 12 month anniversary of the Appendix A termination effective date, provided, the requirements of Treasury Regulation Section 1.409A-3(j)(4)(ix)(C) have been satisfied. A-8 LIMITATIONS ON TRANSFER . Awards subject to this Appendix A may not be assigned or transferred by a Participant during their lifetime, other than to a former spouse incident to divorce if and to the extent required by a qualified domestic relations order and permitted under the terms of the applicable Award agreement, and the Awards shall not be subject to anticipation, alienation, sale, assignment, pledge, encumbrance or hypothecation, execution, attachment or similar process. Any attempt to anticipate, alienate, sell, assign, transfer, pledge, encumber, hypothecate, charge or otherwise dispose of an Award in a manner contrary to the provisions hereof, and the levy of any attachment or similar process upon the awards, shall be null and void. Target Corporation (TGT) Option Chain Real-Time After Hours Pre-Market News Flash Quote Summary Quote Interactive Charts Default Setting Please note that once you make your selection, it will apply to all future visits to NASDAQ. 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