C.H. Robinson Worldwide 10-K 2005
Documents found in this filing:
Grant Date: November 17, 2004
CHRW MANAGEMENT RESTRICTED STOCK PROGRAM
I am pleased to advise you that you have been selected to receive shares of C.H. Robinson Worldwide, Inc. (the Company) restricted stock under the CHRW Management Restricted Stock Program. The Company is permitted under the terms of its 1997 Omnibus Stock Plan to issue its shares and other derivative securities to employees at various times and in various forms. The Company has also established a nonqualified, defined contribution plan of deferred compensation for the benefit of certain eligible employees known as the Robinson Companies Nonqualified Deferred Compensation Plan (the Deferred Compensation Plan). The Deferred Compensation Plan provides, in part, that the Company may, in its sole discretion, make discretionary credits to the account of a participant, subject to such terms and conditions established by the Company.
In accordance with the terms of the Deferred Compensation Plan, your account in the Deferred Compensation Plan has been awarded an employer discretionary credit in the form of shares of C.H. Robinson Worldwide, Inc. restricted common stock. The shares of restricted stock are subject to the terms and conditions contained in the Deferred Compensation Plan and in the 1997 Omnibus Stock Plan (unless expressly modified below), and will be vested, earned and delivered as outlined below.
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Company income from operations for the current year over the prior year rounded to two decimals and (B) the percentage increase in Company diluted net income per share for the current year over the prior year rounded to two decimals.
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The Company is enthusiastic about this program as it feels that the more incentives it can provide, the more vitally and personally interested and involved the Participants will be in making C.H. Robinson Worldwide a bigger and better company.
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