Common use of Issue Date and Performance Vesting Terms Clause in Contracts

Issue Date and Performance Vesting Terms. A. The Issue Date of the Restricted Stock shall be May 25, 2006. B. The Restricted Stock granted to Employee hereunder, subject to the other terms and conditions set forth herein, shall become vested over a period of six (6) fiscal years 16.67% per fiscal year, provided that, with respect to each fiscal year the performance goal for such period has been met. For the first fiscal year (through December 31, 2006), the performance goal shall be an increase in the Company's "adjusted pre-tax income" of 10% or more for the 2006 fiscal year when compared to the prior fiscal year. In each subsequent vesting year, the performance goal for further vesting of the Restricted Stock will be determined by the Committee and established no later than ninety (90) days after the commencement of such fiscal year. If, in any year, the performance goal is not met, the Committee may establish a goal for a subsequent year which, if achieved or exceeded, may result in full or partial vesting of the shares that did not otherwise become vested in a prior year. Performance goals will in all events be based upon the Company's "adjusted pre-tax income."

Issue Date and Performance Vesting Terms. A. The Issue Date of the Restricted Stock shall be May 25, 2006. B. The Restricted Stock granted to Employee hereunder, subject to the other terms and conditions set forth herein, shall become vested over a period of six four (64) fiscal years 16.6725.0% per fiscal year, provided that, with respect to each fiscal year the performance goal for such period has been met. For the first fiscal year (through December 31, 2006), the performance goal shall be an increase in the Company's "adjusted pre-tax income" of 10% or more for the 2006 fiscal year when compared to the prior fiscal year. In each subsequent vesting year, the performance goal for further vesting of the Restricted Stock will be determined by the Committee and established no later than ninety (90) days after the commencement of such fiscal year. If, in any year, the performance goal is not met, the Committee may establish a goal for a subsequent year which, if achieved or exceeded, may result in full or partial vesting of the shares that did not otherwise become vested in a prior year. Performance goals will in all events be based upon the Company's "adjusted pre-tax income."