Bonus/Stock Awards from Agreement
This Agreement (the "Agreement"), with an effective date of January 1, 2015, is entered into by Charles River Laboratories, Inc., with its principal place of business at 251 Ballardvale Street, Wilmington, Massachusetts 01887 (the "Company") and Dr. Nancy Gillett, an individual residing at 4520 West Phantom Hill Road, Prescott, AZ 86305 (the "Employee").
Bonus/Stock Awards. The Employee will receive any earned bonus attributable to FY2014 performance in 15-uses-in-bonusstock-awards-clause" title="Click to see all February, 2015 (date) values">February, 2015, consistent with past practices. Similarly, the Employee will retain the benefit of any stock awards previously made to her by the Company, including continued vesting and the lapsing of restrictions up to and including the Final Day of Employment. The Employee understands and agrees that she will not participate in the Company's EICP or any other bonus programs in FY2015 or FY2016 (other than as set forth below), and that she will not receive any stock award from the Company in FY2015 or FY2016. The terms and conditions of any stock award agreements underlying any stock awards previously made to the Employee by the Company (the "Award Agreements") remain in full force and effect and all awards remain subject to the terms and conditions of those Award Agreements and the Company's 2007 Incentive Plan (the "2007 Plan"). During FY2015, the Employee will be eligible to receive a bonus payout under the same terms as the Company's EICP Program; provided, however, that any bonus calculations shall be applied only to the Employee's actual Base Salary earnings (as adjusted for Dedicated Hours) during FY2015.