Common use of Annual Equity Incentive Compensation Clause in Contracts

Annual Equity Incentive Compensation. Executive shall be eligible to participate in the Company’s equity-based incentive program, or any successor plan thereto (the “PVR LTIP”), which shall enable Executive to be awarded equity-based compensation in such amounts, if any, and payable at such times, if any, as determined in the normal course by the Committee. Executive’s target annual equity-based compensation shall be 125% of his Base Salary commencing in 2012. The annual equity-based target may be reviewed and adjusted by the Committee from time to time in accordance with the Committee’s normal practice. All equity-based compensation shall be paid or settled in accordance with the PVR LTIP and the applicable award agreement evidencing the equity-based compensation award.

Annual Equity Incentive Compensation. Executive shall be eligible to participate in the Company’s equity-based incentive program, or any successor plan thereto (the “PVR LTIP”), which shall enable Executive to be awarded equity-based compensation in such amounts, if any, and payable at such times, if any, as determined in the normal course by the Committee. Executive’s target annual equity-based compensation shall be 125200% of his Base Salary commencing in 2012. The annual equity-based target may be reviewed and adjusted by the Committee from time to time in accordance with the Committee’s normal practice. All equity-based compensation shall be paid or settled in accordance with the PVR LTIP and the applicable award agreement evidencing the equity-based compensation award.