Existing Incentives a. A “Conversion to Base Rate of Pay factor” (CBF) will be used to convert existing incentive plan performance to a percentage of Base Rate of Pay. This conversion is calculated by multiplying the incentive plan percent performance above the August 1, 1999 USS-USW Basic Labor Agreement incentive calculation rate (ICR) by the CBF. The CBF shall be 0.37 as of the Effective Date of this Agreement. Conversion Example 55% x 0.37 (CBF) = 20 % of Base Rate of Pay. Example plan average performance = 155% Percent Performance above the ICR = 55% Conversion to a percentage of Base Rate of Pay:
Existing Incentives. Each incentive now in effect or hereafter established shall remain in effect, except as changed in accordance with the provisions of this Section or of the Supplemental Agreement dated May 25, 1956, between the parties hereto. The term "incentive" as used in this Section means any incentive plan and the incentive rates under such plan (including: tonnage rates; premium rates; piece rates of continuing application; and standards and guides used in the calculation of piece rates other than those of continuing application). The term "standard hourly wage rate" as used in this Section means the applicable standard hourly wage rate shown in Appendix 2.
Existing Incentives. For the avoidance of doubt, Executive’s existing Stock Options, Restricted Stock, and Special Recognition Bonuses remain in effect on and following the Effective Date in accordance with their terms of grant, except as provided by this Agreement and are summarized as follows: Stock option grant dated: November 10, 2005 at $11.11 Total shares:197,700 Vested shares:79,080 Restricted Stock grant dated December 6, 2006 Total shares:47,693 Vested shares:none Special Recognition Bonus dated October 2, 2006 Total bonus:$1,233,600 Unpaid:$740,160 Special Recognition Bonus dated December 6, 2006 Total bonus:$9,793,142 Unpaid:$4,197,038
