STAR Awards definition
STAR Awards. As of your Last Day of Employment, if you were otherwise eligible for a STAR award and you worked at least 28 days (4 calendar weeks) during that fiscal year, you will receive a pro-rated STAR award for that fiscal year. Your STAR award will be pro-rated by dividing the number of calendar days during the fiscal year from July 1 through your Last Day of Employment by 365. Your STAR award will be paid in cash in the September (but no later than September 15th) immediately following the end of the fiscal year in which you terminate. Equity Awards(including Recognition Shares): Your separation will be treated as a Special Separation for purposes of any outstanding equity awards granted under the Procter & ▇▇▇▇▇▇ 2009 Stock and Incentive Compensation Plan, the Procter & ▇▇▇▇▇▇ 2001 Stock and Incentive Compensation Plan, the Procter & ▇▇▇▇▇▇ 1992 Stock Plan, or ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ 2004 Long-Term Incentive Plan and as a result the awards will be retained subject to the original terms and conditions of the awards. Awards granted under the Procter & ▇▇▇▇▇▇ 2014 Stock & Incentive Compensation Plan are retained subject to the terms and conditions of the Awards. This agreement does not alter the rights and obligations that you may have under the Procter & ▇▇▇▇▇▇ 2014 Stock & Incentive compensation Plan, the Procter & ▇▇▇▇▇▇ 2009 Stock and Incentive Compensation Plan, the Procter & ▇▇▇▇▇▇ 2001 Stock and Incentive Plan, the Procter & ▇▇▇▇▇▇ 1992 Stock Plan, and ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ 2004 Long-Term Incentive Plan.
STAR Awards. As of your Employment Separation Date, if you were otherwise eligible for a STAR award and you worked at least 28 days (4 calendar weeks) during that fiscal year, you will receive a pro-rated STAR award for that fiscal year. Your STAR award will be pro-rated by dividing the number of calendar days during the fiscal year from July 1 through your Employment Separation Date by 365. However, if you are on a leave of absence prior to your Employment Separation Date, your first day out of the office will be used to calculate the pro-rated percent. Your STAR award will be paid in cash in the September (but no later than September 15th) immediately following the end of the fiscal year in which you terminate. Any current election for Stock Options will be reverted to cash. Equity Awards: Your separation will be treated as a Special Separation for purposes of any outstanding equity awards granted under the Procter & ▇▇▇▇▇▇ 2009 Stock and Incentive Compensation Plan or ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ 2004 Long-Term Incentive Plan and, as a result, you will retain the awards subject to the original terms and conditions of the awards. You will also retain awards granted under the Procter & ▇▇▇▇▇▇ 2014 Stock & Incentive Compensation Plan and the Procter & ▇▇▇▇▇▇ 2019 Stock & Incentive Compensation Plan subject to the terms and conditions of those Awards. For any award granted under the Long-Term Incentive Program (LTIP) and/or Performance Stock Program (PSP) within one year prior to the separation date, that award will be prorated based on the number of days worked in the 12 months following the October grant date, with a minimum of 28 days worked beyond the October grant date. This Separation Letter & Release does not alter the rights and obligations that you may have under the Procter & ▇▇▇▇▇▇ 2019 Stock & Incentive Compensation Plan, the Procter & ▇▇▇▇▇▇ 2014 Stock & Incentive Compensation Plan, the Procter & ▇▇▇▇▇▇ 2009 Stock and Incentive Compensation Plan, and ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ 2004 Long-Term Incentive Plan.
STAR Awards which is in line with current thinking in Burundi on the integration of VCBHA in the Performance Based Financing (PBF )