Common use of Performance Stock Options Clause in Contracts

Performance Stock Options. (i) On July 14, 2006, the Employer granted to Xxxxxxxxx non-qualified Stock Options with a Deemed Value of $500,000 (the “Initial Options”). No later than July 31 of 2011 and of each subsequent fiscal year during the term of this Agreement (including 2014, regardless of whether the grant of the Stock Options occurs following the expiration of this Agreement by its terms), if the Parent Corporation’s TSR for the three years ending on the immediately preceding June 30 is sufficient to place Parent Corporation in at least the twenty-fifth (25th) percentile of Peer Banks ranked by TSR, the Employer granted or shall grant to Xxxxxxxxx Stock Options having the Deemed Value corresponding to the Parent Corporation’s TSR percentile for each fiscal year specified below (it being understood and agreed upon that Performance Stock Options (which may be granted in the form of non-qualified stock options or stock appreciation rights, as determined by the Committee) relating to the three-year period ending June 30, 2010 shall be granted pursuant to the terms of the Prior Agreement): Three year period Ended June 30, TSR Percentile Deemed Value 2011, 2012, 2013, and 2014 Below 25 $ 0 25 to below 50 450,000 50 to below 75 900,000 75 to below 90 1,200,000 90 and above 1,350,000

Performance Stock Options. (i) On July 14, 2006, the Employer granted to Xxxxxxxxx non-qualified Stock Options stock options with a Deemed Value of $500,000 (the “Initial Options”). No , and no later than July 31 of 2011 and of each subsequent fiscal year during the term of this Agreement (including 2014Agreement, regardless of whether the grant of the Stock Options occurs following the expiration of this Agreement by its terms)beginning in July 2007, if the Parent Corporation’s TSR for the three years ending on the immediately preceding June 30 is sufficient to place Parent Corporation in at least the twenty-fifth (25th) percentile of Peer Banks ranked by TSR, the Employer granted or shall grant to Xxxxxxxxx Stock Options stock options having the Deemed Value corresponding to the Parent Corporation’s TSR percentile for each fiscal year specified below (it being understood and agreed upon that Performance Stock Options (which may be granted in the form of non-qualified stock options or stock appreciation rights, as determined by the Committee) relating to the three-year period ending June 30, 2010 shall be granted pursuant to the terms of the Prior Agreement): below: Three year period Ended June 30, TSR Percentile Deemed Value 2011, 2012, 2013, and 2014 2007 Below 25 $ 0 25 to below 50 450,000 250,000 50 to below 75 900,000 500,000 75 to below 90 1,200,000 750,000 90 and above 1,350,000900,000 2008 Below 25 $ 0 25 to below 50 300,000 50 to below 75 600,000 75 to below 90 850,000 90 and above 1,000,000 2009 Below 25 $ 0 25 to below 50 350,000 50 to below 75 700,000 75 to below 90 950,000 90 and above 1,100,000 Three year period Ended June 30, TSR Percentile Deemed Value 2010 Below 25 $ 0 25 to below 50 400,000 50 to below 75 800,000 75 to below 90 1,050,000 90 and above 1,200,000

Performance Stock Options. (i) On July 14, 2006, the Employer granted shall grant to Xxxxxxxxx non-qualified Stock Options stock options with a Deemed Value of $500,000 (the “Initial Options”). No , and no later than July 31 of 2011 and of each subsequent fiscal year during the term of this Agreement (including 2014Agreement, regardless of whether the grant of the Stock Options occurs following the expiration of this Agreement by its terms)beginning in July 2007, if the Parent Corporation’s TSR for the three years ending on the immediately preceding June 30 is sufficient to place Parent Corporation in at least the twenty-fifth (25th) percentile of Peer Banks ranked by TSR, the Employer granted or shall grant to Xxxxxxxxx Stock Options stock options having the Deemed Value corresponding to the Parent Corporation’s TSR percentile for each fiscal year specified below (it being understood and agreed upon that Performance Stock Options (which may be granted in the form of non-qualified stock options or stock appreciation rights, as determined by the Committee) relating to the three-year period ending June 30, 2010 shall be granted pursuant to the terms of the Prior Agreement): below: Three year period Ended June 30, TSR Percentile Deemed Value 2011, 2012, 2013, and 2014 2007 Below 25 $ 0 25 to below 50 450,000 250,000 50 to below 75 900,000 500,000 75 to below 90 1,200,000 750,000 90 and above 1,350,000900,000 2008 Below 25 $ 0 25 to below 50 300,000 50 to below 75 600,000 75 to below 90 850,000 90 and above 1,000,000 2009 Below 25 $ 0 25 to below 50 350,000 50 to below 75 700,000 75 to below 90 950,000 90 and above 1,100,000 Three year period Ended June 30, TSR Percentile Deemed Value 2010 Below 25 $ 0 25 to below 50 400,000 50 to below 75 800,000 75 to below 90 1,050,000 90 and above 1,200,000