EX-10.1
from 8-K
4 pages
Initial Equity Grants: You Will Participate With Other Senior Management in the Company’s Long Term Incentive Program. Your Target Lti Opportunity Is 100% of Salary. on the Commencement Date You Will Receive a Grant of Restricted Shares as Approved by the Compensation Committee Under the Company’s 2006 Stock Incentive Plan (The “Stock Plan”) as Follows: 13,900 Restricted Stock Units, (As Defined in the Stock Plan) Vesting 100% in Three Years From Date of Grant, Subject to Your Continued Employment. 15,000 Restricted Stock Units (As Defined in the Stock Plan) Vesting 100% in Three Years From Date of Grant, Subject to Your Continued Employment. the Foregoing Stock Awards Also May Vest Under Certain Circumstances Upon a “Change in Control” (As Defined in the Stock Plan) or a “Qualifying Termination” (As Defined in the Executive Severance Plan). Your Stock Awards Will Be Evidenced by Separate Award Agreements Issued in Accordance With the Stock Plan. the Next Regular Grant Under This Program Is Anticipated to Be in Fall, 2011, Pending Shareholder Approval of a New Stock Incentive Plan and as Approved by the Board of Directors. 1 Conditions Stated in Effect at Time of Offer. Ecd, Inc. Reserves the Right to Modify Benefits and Contributions as Business Conditions Necessitate
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