Exhibit 10.16
PAXAR CORPORATION
Stock Option Award Agreement
under the
Paxar 2000 Long-Term Performance and Incentive Plan
This Stock Option Award Agreement (the "Agreement") is between Paxar
Corporation ("Paxar") and ("you" or the "Executive").
This Agreement grants you an option to purchase shares of Paxar Common Stock
("Stock Options") under the Paxar 2000 Long-Term Performance and Incentive Plan
(the "Plan").
The text of the Plan is Appendix B to Paxar's 2000 Proxy Statement. The text is
available at xxx.xxxxx.xxx, Investor Relations, SEC Filings, DEF 14A - April 14,
2000.
The details and terms of this grant are:
1. Purpose. These Stock Options have been granted by the Executive
Development and Compensation Committee of Paxar's Board of Directors to
you as a valued member of the Paxar team for the purposes of (a)
rewarding you for contributing to Paxar's success and (b) providing you
with incentives to continue to do so in the future as measured by the
performance of Paxar's Common Stock.
2. Terms of Option.
Date of Grant :
Price Per Share :
Number of Stock Options :
Term : Expire 10 years after Date of
Grant
Vesting : 25% per year on first 4
anniversaries of Date of
Grant
3. Statutory Classification
These Stock Options are Non-Qualified Stock Options and will vest as
Non-Qualified Stock Options, beginning ___________. Please see "Federal
Income Tax Consequences" published as Appendix C to Paxar's 2000 Proxy
Statement, also available through our web site as set forth above.
4. Other Applicable Terms and Conditions.
a. In consideration of the grant of these Stock Options, you
agree to comply with the terms of the Plan and this
Agreement.
b. By accepting this award, you acknowledge that you have read
the Plan. Any questions about its terms and conditions
should be referred to our General Counsel, Xxx Xxxxx.
c. This Agreement (a) shall be binding upon and inure to the
benefit of any successor of Paxar; (b) shall be governed by
the laws of the State of New York and any applicable law of
the United States of America; and (c) may not be amended
except in writing.
d. In the event of a conflict between this Agreement and the
Plan, the Plan shall govern.
Paxar Corporation:
By: ___________________________ Accepted and Agreed to:
Title: __________________________
Executive
Date: ____________________ Date: ____________________
