Exhibit 10.10
Form of Restricted Stock Award
[Name of Executive]
[Title of Executive]
Restricted
Stock Award*
|
_____ | |
Grant Date: |
__/__/200_ | |
| * The restricted stock award will vest at retirement at or
after age 65, death, disability, or change in control. The
shares will be forfeited if your employment ends prior to this
time. Additional terms are included in the 1997 Long Term Incentive
Plan and the Policies adopted for its administration. Note: Restricted shares granted to Messrs. Hammonds, Cochran, Weaver and Struthers (other than shares granted in lieu of a portion of cash bonuses) in 2003 and prior years vest on December 1 of the year that includes the tenth anniversary of grant, or sooner upon the recipient's retirement, death or disability or upon a change of control of the Corporation. |
||
Form of Restricted Stock Award (in lieu of bonus)
[Name of Executive]
[Title of Executive]
200_ Bonus Salary:
|
$________ | |
200_ Cash Bonus:
|
$________ | |
200_ Restricted Stock Bonus:
|
$________ | |
| ____(1) | ||
Grant Date:
|
__/__/200_ | |
(1) Represents the number of restricted shares based upon the
closing price of $___ on ______ __, 200_. The shares will vest
__% on each year beginning with _____ __, 200_ and on each of
the next ____ anniversaries. The shares will vest sooner in
the event of death, disability, retirement at or after age 65
or change in control of the Corporation. The shares will be
forfeited if your employment ends prior to this time.
Additional terms are included in the 1997 Long Term Incentive
Plan and the policies adopted for its administration.
|
||