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This excerpt taken from the AKS 8-K filed Oct 22, 2008. Termination of
Employment. Except as hereinafter provided, Options granted
under the Plan may not be exercised by any person, including a transferee of any
rights under an Option Award, unless the Participant is then in the employ of
the Company and unless the Participant has remained continuously so employed
since the date of grant of the Option. Subject to the duration set
forth in Section 6.4, Options shall be exercisable as follows unless otherwise
provided by the Committee:
(a) in
the case of a Participant’s death: (i) while
employed by the Company, by the Beneficiary or representative during a period of
three (3) years following the date of the Participant’s death; and in such a
case may be exercised even before expiration of the six (6)-month or longer
period established in accordance with Section 6.5(a); or
(ii) after
his Retirement, but before the third anniversary of his Retirement, by the
Beneficiary or representative on or before the third anniversary of his
Retirement;
(b) in
the case of the Participant’s Disability, by the Participant or by the
Participant’s appointed representative during a period of three (3) years
following the date of the Participant’s last day worked;
(c) in
the case of the Participant’s Retirement, by the Participant during a period
of three (3) years following the date of the Participant’s last day
worked;
(d) in
the case of a Participant’s involuntary termination of employment:
(i) for
reasons other than Cause, by the Participant during a period of three (3) years
following the date of the Participant’s last day worked; or
(ii) for
Cause, by the Participant on or before his last day worked whether or not the
Committee has made its final determination that there is Cause for termination
as of that last day worked; and
(e) in
the case of a Participant’s voluntary termination of employment, his last day
worked.
Article
7. Restricted Stock and Restricted
Stock Units.
These excerpts taken from the AKS 10-K filed Mar 2, 2006. a. Termination of Employment. If during a calendar year a Plan Member dies, becomes totally and permanently disabled, retires, or is involuntarily terminated for reasons other than Cause (as defined in paragraph 8b below), the Plan Member (or the Plan Member’s estate in the case of death) shall be entitled under this Plan to an amount equal to twice the amount paid or to be paid to the Plan Member on the Performance Award Payment Date occurring within that calendar year, less the amount of any Performance Award already paid to the Plan Member on such Performance Award Payment Date. Any amount payable under this paragraph 8a shall be paid on the next to occur of the Performance Award Payment Date falling within that calendar year or within 60 days following such Plan Member’s death or other termination of employment. Any such amount shall be paid in cash and in full satisfaction of any claims the Plan Member may have under this Plan. 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. 8.7 Nontransferability. No Performance Shares granted under the Plan may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, otherwise than by will or by the laws of descent and distribution until the termination of the applicable Performance Period. All rights with respect to Performance Shares granted to a Participant under the Plan shall be exercisable during his lifetime only by such Participant. This excerpt taken from the AKS DEF 14A filed Apr 22, 2005. a. Termination of Employment.
If during a calendar year a Plan Member dies, becomes totally and permanently disabled, retires, or is involuntarily terminated for reasons other than Cause (as defined in paragraph 8b below), the Plan Member (or the Plan Member’s estate in the case of death) shall be entitled under this Plan to an amount equal to twice the amount paid or to be paid to the Plan Member on the Performance Award Payment Date occurring within that calendar year, less the amount of any Performance Award already paid to the Plan Member on such Performance Award Payment Date. Any amount payable under this paragraph 8a shall be paid on the next to occur of the Performance Award Payment Date falling within that calendar year or within 60 days following such Plan Member’s death or other termination of employment. Any such amount shall be paid in cash and in full satisfaction of any claims the Plan Member may have under this Plan.
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