Common use of Annual Award Limits Clause in Contracts

Annual Award Limits. Unless and until the Committee determines that an Award to a Covered Employee shall not be designed to qualify as Performance-Based Compensation, the following limits (each an “Annual Award Limit” and, collectively, “Annual Award Limits”) shall apply to grants of such Awards under the Plan: (i) The maximum number of shares of Stock with respect to which Options may be granted to a Participant during a Fiscal Year is 750,000, plus the amount of the Participant’s unused applicable Annual Award Limit for Options (if any) as of the close of the previous Plan Year. (ii) The maximum number of shares of Stock with respect to which SARs may be granted to a Participant during a Fiscal Year is 750,000, plus the amount of the Participant’s unused applicable Annual Award Limit for SARs (if any) as of the close of the previous Plan Year. (iii) The maximum number of shares of Stock with respect to which Full Value Awards may be granted to a Participant during a Fiscal Year is 375,000, plus the amount of the Participant’s unused applicable Annual Award Limit for Full Value Awards (if any) as of the close of the previous Plan Year. (iv) The maximum number of shares of Stock with respect to which Performance Stock Awards may be granted to an Employee during a Fiscal Year is 375,000. (v) The maximum number of shares of Stock with respect to which Performance Unit Awards payable in Stock may be granted to an Employee during a Fiscal Year is 375,000. (vi) The maximum value of cash with respect to which Performance Unit Awards payable in cash may be granted to an Employee during a Fiscal Year, determined as of the dates of Grants of the Performance Unit Awards, is $7,500,000. (vii) The maximum amount that may be paid to an Employee under Annual Incentive Award(s) granted to an Employee during a Fiscal Year is $3,000,000.

Annual Award Limits. Unless and until the Committee determines that an Award to a Covered Employee shall not be designed to qualify as Performance-Based Compensation, the following limits (each an “Annual Award Limit” and, collectively, “Annual Award Limits”) shall apply to grants of such Awards under the Plan: (i) The maximum number of shares of Stock with respect to which Options SARs may be granted to a Participant Participant, other than a Director, during a Fiscal Year is 750,000, plus the amount 10% of the Participant’s unused applicable Annual Award Limit for Options Aggregate Limit. The maximum aggregate value of SARs that may be granted to a Director during a Fiscal Year (if any) determined as of the close date of the previous Plan YearAward using an appropriate valuation method determined by the Committee) is $300,000. (ii) The maximum number of shares of Stock with respect to which SARs Options may be granted to a Participant Participant, other than a Director, during a Fiscal Year is 750,000, plus the amount 10% of the Participant’s unused applicable Annual Award Limit for SARs Aggregate Limit. The maximum aggregate value of Options that may be granted to a Director during a Fiscal Year (if any) determined as of the close date of the previous Plan YearAward using an appropriate valuation method determined by the Committee) is $300,000. (iii) The maximum number aggregate value of shares of Stock with respect to which Full Value Awards that may be granted to a Participant Director during a Fiscal Year is 375,000, plus (determined based on the amount Fair Market Value of Stock on the date of the Participant’s unused applicable Annual Award Limit for Full Value Awards (if anyAward) as of the close of the previous Plan Yearis $300,000. (iv) The maximum number of shares of Stock with respect to which Performance Stock Awards may be granted to an Employee during a Fiscal Year is 375,00010% of the Aggregate Limit. (v) The maximum number of shares of Stock with respect to which Performance Unit Awards payable in Stock may be granted to an Employee during a Fiscal Year is 375,00010% of the Aggregate Limit. (vi) The maximum value of cash with respect to which Performance Unit Awards payable in cash may be granted to an Employee during a Fiscal Year, determined as of the dates of Grants grant date of the Performance Unit Awards, is $7,500,0003,000,000. (vii) The maximum amount that may be paid to an Employee under Annual Incentive Award(s) granted to an Employee during a Fiscal Year is $3,000,000.

Annual Award Limits. Unless and until the Committee determines that an Award to a Covered Employee shall not be designed to qualify as Performance-Based Compensation, the following limits (each an “Annual Award Limit” and, collectively, “Annual Award Limits”) shall apply to grants of such Awards under the Plan: (i) The maximum number of shares of Stock with respect to which Options may be granted to a Participant during a Fiscal Year is 750,0005% of the Aggregate Limit, plus the amount of the Participant’s unused applicable Annual Award Limit for Options (if any) as of the close of the previous Plan Year. (ii) The maximum number of shares of Stock with respect to which SARs may be granted to a Participant during a Fiscal Year is 750,0005% of the Aggregate Limit, plus the amount of the Participant’s unused applicable Annual Award Limit for SARs (if any) Options as of the close of the previous Plan Year. (iii) The maximum number of shares of Stock with respect to which Full Value Awards may be granted to a Participant during a Fiscal Year is 375,0005% of the Aggregate Limit, plus the amount of the Participant’s unused applicable Annual Award Limit for Full Value Awards (if any) as of the close of the previous Plan Year. (iv) The maximum number of shares of Stock with respect to which Performance Stock Awards may be granted to an Employee during a Fiscal Year is 375,0002.5% of the Aggregate Limit. (v) The maximum number of shares of Stock with respect to which Performance Unit Awards payable in Stock may be granted to an Employee during a Fiscal Year is 375,0002.5% of the Aggregate Limit. (vi) The maximum value of cash with respect to which Performance Unit Awards payable in cash may be granted to an Employee during a Fiscal Year, determined as of the dates of Grants of the Performance Unit Awards, is $7,500,0002,000,000. (vii) The maximum amount that may be paid to an Employee under Annual Incentive Award(s) granted to an Employee during a Fiscal Year is $3,000,0002,000,000.

Annual Award Limits. Unless and until the Committee determines that an Award to a Covered Employee shall not be designed to qualify as Performance-Based Compensation, the following limits (each an “Annual Award Limit” and, collectively, “Annual Award Limits”) shall apply to grants of such Awards under the Plan: (i) The maximum number of shares of Stock with respect to which Options SARs may be granted to a Participant Participant, other than a Director, during a Fiscal Year is 750,00010% of the Aggregate Limit, plus the amount of the Participant’s unused applicable Annual Award Limit for Options (if any) as of the close of the previous Plan Year. The maximum aggregate value of SARs that may be granted to a Director during a Fiscal Year (determined as of the date of the Award using an appropriate valuation method determined by the Committee) is $300,000. (ii) The maximum number of shares of Stock with respect to which SARs Options may be granted to a Participant Participant, other than a Director, during a Fiscal Year is 750,00010% of the Aggregate Limit, plus the amount of the Participant’s unused applicable Annual Award Limit for SARs (if any) Options as of the close of the previous Plan Year. The maximum aggregate value of Options that may be granted to a Director during a Fiscal Year (determined as of the date of the Award using an appropriate valuation method determined by the Committee) is $300,000. (iii) The maximum number of shares of Stock with respect to which Full Value Awards may be granted to a Participant Participant, other than a Director, during a Fiscal Year is 375,00010% of the Aggregate Limit, plus the amount of the Participant’s unused applicable Annual Award Limit for Full Value Awards (if any) as of the close of the previous Plan Year. The maximum aggregate value of Full Value Awards that may be granted to a Director during a Fiscal Year (determined based on the Fair Market Value of Stock on the date of the Award) is $300,000. (iv) The maximum number of shares of Stock with respect to which Performance Stock Awards may be granted to an Employee during a Fiscal Year is 375,0005% of the Aggregate Limit. (v) The maximum number of shares of Stock with respect to which Performance Unit Awards payable in Stock may be granted to an Employee during a Fiscal Year is 375,0005% of the Aggregate Limit. (vi) The maximum value of cash with respect to which Performance Unit Awards payable in cash may be granted to an Employee during a Fiscal Year, determined as of the dates of Grants of the Performance Unit Awards, is $7,500,0003,000,000. (vii) The maximum amount that may be paid to an Employee under Annual Incentive Award(s) granted to an Employee during a Fiscal Year is $3,000,000.

Annual Award Limits. Unless and until the Committee determines that an Award to a Covered Employee shall not be designed to qualify as Performance-Based Compensation, the following limits (each an “Annual Award Limit” and, collectively, “Annual Award Limits”) shall apply to grants of such Awards under the Plan: (i) The maximum number of shares of Stock with respect to which Options may be granted to a Participant during a Fiscal Year is 750,000328,950, plus the amount of the Participant’s unused applicable Annual Award Limit for Options (if any) as of the close of the previous Plan Year. (ii) The maximum number of shares of Stock with respect to which SARs may be granted to a Participant during a Fiscal Year is 750,000328,950, plus the amount of the Participant’s unused applicable Annual Award Limit for SARs (if any) as of the close of the previous Plan Year. (iii) The maximum number of shares of Stock with respect to which Full Value Awards may be granted to a Participant during a Fiscal Year is 375,000164,475, plus the amount of the Participant’s unused applicable Annual Award Limit for Full Value Awards (if any) as of the close of the previous Plan Year. (iv) The maximum number of shares of Stock with respect to which Performance Stock Awards may be granted to an Employee during a Fiscal Year is 375,000164,475. (v) The maximum number of shares of Stock with respect to which Performance Unit Awards payable in Stock may be granted to an Employee during a Fiscal Year is 375,000164,475. (vi) The maximum value of cash with respect to which Performance Unit Awards payable in cash may be granted to an Employee during a Fiscal Year, determined as of the dates of Grants of the Performance Unit Awards, is $7,500,000. (vii) The maximum amount that may be paid to an Employee under Annual Incentive Award(s) granted to an Employee during a Fiscal Year is $3,000,000.