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This excerpt taken from the AKS 8-K filed Oct 22, 2008. Lapse of
Restrictions. The restrictions set forth in Section 7.3 will
lapse only if, on the date restrictions are to lapse in accordance with this
Section 7.4, the Participant has been continuously employed by the Company or
has been a Director from the time of the Restricted Stock Award to such date of
lapse. If the lapse schedule would result in the lapse of
restrictions in a fractional share interest, the number of shares will be
rounded down to the next lowest number of full shares for each of the first two
lapse dates, with the balance to relate to the final lapse
date. Unless otherwise provided by the Board:
(a) with
respect to a Restricted Stock Award to an Employee, the restrictions set forth
in Section 7.3 shall lapse with respect to twenty-five percent (25%) of the
Shares subject thereto on the second anniversary of the date of the Award; and
with respect to an additional twenty-five percent (25%) of the Shares subject
thereto on each of the third, fourth and fifth anniversaries of the date of the
Award; and
(b) with
respect to a Restricted Stock Award to a Director, the restrictions set forth in
Section 7.3 shall lapse upon completion of the full tenure for which the
Director was elected to serve on the Board.
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