0000950134-07-011683 Sample Contracts

FORM OF PERFORMANCE-BASED RESTRICTED STOCK UNIT AGREEMENT
Performance-Based Restricted Stock Unit Agreement • May 15th, 2007 • Williams Companies Inc • Natural gas transmission

You have been selected to receive a performance-based restricted stock unit award to be paid if the the Company exceeds the Threshold goal for EVA improvement, as established by the Committee, over the Performance Period. This award, which is subject to adjustment under the 2007 Performance-Based Restricted Stock Unit Agreement (the “Agreement”), is granted to you in recognition of your role as a key employee whose responsibilities and performance are critical to the attainment of long-term goals. This award and similar awards are made on a selective basis and are, therefore, to be kept confidential. It is granted and subject to the terms and conditions of The Williams Companies, Inc. 2007 Incentive Plan, as amended from time to time, and the Agreement.

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FORM OF RESTRICTED STOCK UNIT AGREEMENT
Restricted Stock Unit Agreement • May 15th, 2007 • Williams Companies Inc • Natural gas transmission

You have been selected to receive a restricted stock unit award. This award, which is subject to adjustment under the 2007 Restricted Stock Unit Agreement (the “Agreement”), is granted to you in recognition of your role as a key employee whose responsibilities and performance are critical to the attainment of long-term goals. This award and similar awards are made on a selective basis and are, therefore, to be kept confidential. It is granted and subject to the terms and conditions of The Williams Companies, Inc. 2007 Incentive Plan, as amended from time to time, and the Agreement.

TO: FROM: Steven J. Malcolm SUBJECT: 2007 Restricted Stock Unit Award
Restricted Stock Unit Agreement • May 15th, 2007 • Williams Companies Inc • Natural gas transmission

You have been granted a restricted stock unit award. This award, which is subject to adjustment under the 2007 Restricted Stock Unit Agreement (the “Agreement”), is granted to you in recognition of your role as a non-management director for The Williams Companies, Inc. It is granted and subject to the terms and conditions of The Williams Companies, Inc. 2007 Incentive Plan, as amended from time to time, and the Agreement.

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