Stock Ownership Requirement. During the Employment Period, the Executive shall be subject to the Company’s stock ownership policy in accordance with the guidelines as established by the Compensation Committee.
Stock Ownership Requirement. While employed by the Company, Executive shall be expected to maintain ownership of common stock or stock equivalents in such amounts and on such terms and conditions as are set forth in the Company’s Executive Stock Ownership Guidelines established by the Compensation Committee and in effect from time to time (the “Ownership Guidelines”). Executive is expected to meet the ownership requirements set forth in the Ownership Guidelines within the time period stated in the Ownership Guidelines. In the event Executive is unable to meet her ownership requirements within the defined time period, Executive shall retain all net after tax profit shares following option exercise and/or the vesting of restricted stock units until Executive has satisfied the requirements set forth in this Section 12. No additional liability shall apply to Executive if Executive fails to satisfy the stock ownership requirements set forth in this Section 12.
Stock Ownership Requirement. While employed by the Company, Executive shall be expected to maintain ownership of common stock or stock equivalents in such amounts and on such terms and conditions as are set forth in the Company’s Executive Stock Ownership Guidelines established by the Compensation Committee and in effect from time to time (the “Ownership Guidelines”). Executive is expected to meet the ownership requirements set forth in the Ownership Guidelines within the time period stated in the Ownership Guidelines. In the event Executive is unable to meet his ownership requirements within the defined time period, Executive shall retain all net after-tax profit Shares following option exercise and/or the vesting of restricted stock units and any other awards settled in Shares, until Executive has satisfied the requirements set forth in this Section 12. No additional liability shall apply to Executive if Executive fails to satisfy the stock ownership requirements set forth in this Section 12. For the sake of clarity, failure to satisfy the requirements set forth in this Section 12 (other than any willful breach by Executive of the obligation not to dispose of net after-tax profit Shares as contemplated above) shall not constitute Cause.
Stock Ownership Requirement. As part of its corporate governance initiatives, the Company has instituted stock ownership requirements for its executive officers and directors. Based on the current guidelines, Executive must hold an amount of the Company’s common stock equal to 100% of his Base Salary by May 27, 2013 (the fifth anniversary of Executive’s initial grant of restricted stock units on May 27, 2008). In addition, shares obtained through option exercises, vesting of restricted stock units and by participation in the Company’s Employee Stock Purchase Plan may be used to meet the above described ownership requirement. The Board reserves the right to change the stock ownership requirement in the future as it deems appropriate.
Stock Ownership Requirement. The Executive shall be subject to the terms and conditions of the Company’s stock ownership requirements for senior executives as in effect from time to time. Under the terms of the current policy, fifty percent of the after-tax shares of Common Stock awarded to the Executive pursuant to any annual incentive deferrals as provided in Section 4 or equity award pursuant to Section 5, shall be “held” by the Company in accordance with its policies and will not be transferable by the Executive until the Executive has accumulated 250,000 shares of the Company’s Common Stock or terminates employment. All shares of Common Stock owned outright by the Executive shall count towards satisfying the Company’s stock ownership requirements, including shares acquired in the open market or shares retained from the exercise of the stock options.
Stock Ownership Requirement. During the Employment Period, the Executive will hold shares of Company common stock having a value equal to at least two times his Base Salary. The Executive will have three years from the Commencement Date to attain this requirement.
Stock Ownership Requirement. Pursuant to the Company’s Stock Ownership Guidelines (as of March 7, 2011) (the “Stock Ownership Policy”), the President and Chief Executive Officer is expected to own and hold shares of the Company’s common stock with a Value (as defined in the Stock Ownership Policy) equal to five times the annual Base Salary of the President and Chief Executive Officer. Executive shall have five years from the Effective Date to achieve the required stock ownership under the Stock Ownership Policy. Nothing in this Agreement shall be construed as modifying the terms of the Stock Ownership Policy, which shall be binding on the Executive.
Stock Ownership Requirement. While employed by the Company, Executive shall be expected to maintain ownership of common stock or stock equivalents having a value equal to approximately 3.5 times his Annual Base Salary in accordance with guidelines established by the Compensation Committee from time to time. For purposes of these guidelines, stock ownership includes shares over which Executive has direct or indirect ownership or control. Stock equivalents for this purpose include vested restricted share units but do not include unvested restricted share units subject to a performance requirement. Executive is expected to meet this ownership requirement within five years after the Effective Date. In the event Executive is unable to meet the foregoing ownership requirements within five years of the Effective Date, Executive shall retain all net after tax profit shares following option exercise and/or the vesting of restricted stock units until Executive has satisfied the requirements set forth in this Section 12. No additional liability shall apply to Executive if Executive fails to satisfy the stock ownership requirements set forth in this Section 12.
Stock Ownership Requirement. Employee acknowledges and agrees that Employee will comply with the Company’s stock ownership guidelines applicable to executive officers as in effect from time to time. The Company’s stock ownership guidelines in effect as of the Effective Date are set forth in Exhibit A attached hereto. Such stock ownership guidelines may be amended from time to time in the sole discretion of the Company without amending this Agreement and without Employee’s consent.
Stock Ownership Requirement. The Company has established Common Stock Ownership and Retention Guidelines for Directors and Officers (the “Guidelines”) to emphasize the link between officers and the long-term interests of shareholders of the Company and to enhance the Company’s image by openly communicating to investors, market analysts and the public that officer interests are tied directly to the long-term success of the Company through personal capital investment in Company stock. By accepting this Award, you acknowledge that you have received a copy of the Guidelines and agree to adhere to the terms and conditions contained therein.
