2007 Long Term Award Sample Clauses


2007 Long Term Award. The fifth paragraph under Section 4(b)(ii) of the Employment Agreement is hereby stricken in its entirety and replaced with the following new text:In 2007 and years thereafter, the Executive shall be eligible for annual long-term incentive awards having a grant date value, assuming full vesting and achievement of performance criteria at target, equal to 140% of Executive’s annual Base Salary (for 2007 the “2007 Target LTI Award”) (for 2008 the "2008 Target LTI Award," for 2009 the "2009 Target LTI Award" and the foregoing awards for 2008 and 2009 collectively with future awards, the “Future Target LTI Awards”) and such awards shall be subject to vesting in three equal annual installments and such other terms as the Committee shall determine to be appropriate.