Common use of Shareholder Value Plan Clause in Contracts

Shareholder Value Plan. With respect to Executive's participation in the Company's Shareholder Value Plan, the Award Periods in connection with all of Executive's outstanding SVU Grants shall be accelerated such that each Award Period is deemed to have ended upon the Termination Date. At such time, the Company shall pay Executive an amount equal to the SVU Value multiplied by the number of Executive's outstanding SVU Grants. The SVU Value shall be reduced by 66% for all SVU Grants which were granted less than twelve months prior to the Termination Date and the SVU Value shall be reduced by 33% for all SVU Grants which were granted less than twenty-four months but more than twelve months prior to the Termination Date. No adjustments shall be made to the SVU Value for SVU Grants which were granted more than twenty-four months prior to the Termination Date. All payments made to Executive after the Termination Date in connection with outstanding SVU Grants shall be made solely in cash.