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This excerpt taken from the AKS 8-K filed Oct 22, 2008. Form and Timing of
Payment. The payment described in Section 8.3 herein shall be
made in the applicable number of Shares as soon as administratively feasible
after the end of the Performance Period to which such payment relates but no
later than March 15 immediately following the end of such Performance
Period. All such Shares shall be issued on the same date unless
otherwise prescribed by the Committee. Unless the Committee provides
otherwise, the value of any dividends with respect to such issued Shares that
the Participant would have been entitled to during the applicable Performance
Period had he held such Shares during such Performance Period shall also be paid
to the Participant in whole Shares on said date.
8.6 Termination
of Employment.
(a) Unless
the Committee provides otherwise, in the event the employment of a Participant
is terminated by reason of death, Disability, or Retirement, each Performance
Share Award held by the Participant shall be deemed earned on a prorated basis,
and a prorated payment based on the Participant’s number of full months of
service during the Performance Period, further adjusted based on the achievement
of the performance goals during the entire Performance Period, as computed by
the Committee, shall be made at the time payments are made to Participants who
did not terminate service during the Performance Period.
(b) If
the employment of a Participant shall terminate for any reason other than death,
Disability or Retirement, all Performance Shares shall be forfeited and no
payment shall be made with respect thereto; provided however, the Committee may
in its sole discretion waive such forfeiture and provide for a payment to the
Participant with respect to outstanding Performance Shares, determined in such
manner and payable at such time as the Committee deems appropriate under the
circumstances. This authority of the Committee may be exercised for
any or all Participants; provided that its action in any particular case shall
not bind the Committee in any other case, it being the intention of the Company
to grant the Committee the broadest possible discretion to act or refuse to act
in this regard.
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