Limitations on Awards. The maximum Performance Unit Award that any one Participant may receive for any one Performance Period shall not together exceed 375,000 Shares and $1,000,000 in cash. The Committee may provide in any Award Agreement that any amounts earned in excess of these limitations will be credited as deferred cash compensation under a separate plan of the Company (provided in the latter case that such deferred compensation either bears a reasonable rate of interest or has a value based on one or more predetermined actual investments). Any amounts for which payment to the Participant is deferred pursuant to the preceding sentence shall be paid to the Participant in a future year or years not earlier than, and only to the extent that, the Participant is either not receiving compensation in excess of these limits for a Performance Period, or is not subject to the restrictions set forth under Section 162(b) of the Code.
Appears in 5 contracts
Samples: Stock Option Award Agreement (Commerce Energy Group, Inc.), Restricted Share Award Agreement (Commerce Energy Group, Inc.), Restricted Share Award Agreement (Commerce Energy Group, Inc.)
