Common use of Other Compensation Programs Clause in Contracts

Other Compensation Programs. This Agreement governs the rights and obligations of Executive and Company with respect to Executive’s annual base salary and certain perquisites of employment. Except as otherwise provided herein, Executive’s rights and obligations both during the term of Executive’s employment and thereafter with respect to stock options, restricted stock, incentive and deferred compensation, life insurance policies insuring the life of Executive, and other benefits under plans and programs maintained by Company shall be governed by the separate agreements, plans, programs, and other documents and instruments governing such matters, or as may be provided by law. Notwithstanding anything else in this Agreement, including this Section 4.4, any restricted stock award that has been granted to Executive during Executive’s employment with Company shall not be forfeited upon Executive’s voluntary retirement from Company on or after having reached the age of 62 years, but instead shall vest, to the extent and at the time, the criteria outlined in any Award Agreement (the “Award Agreement”) are met as described in that Award Agreement.