GVHR » Topics » RESTRICTED STOCK AWARD

This excerpt taken from the GVHR 8-K filed Nov 14, 2005.

RESTRICTED STOCK AWARD

 

 

TO:

Gevity HR, Inc.

 

FROM:                 

                                      

 

RE:

Withholding Tax Election

 

This election relates to the Restricted Stock Award identified in Paragraph 3 below. I hereby certify that:

 

                (1)        My correct name and social security number and my current address are set forth at the end of this document.

 

                

(2)

I am (check one, whichever is applicable).

 

 

o

the original recipient of the Restricted Stock Award.

 

o

the legal representative of the estate of the original recipient of the Restricted Stock Award.

 

o

a legatee of the original recipient of the Restricted Stock Award.

 

 

o

the legal guardian of the original recipient of the Restricted Stock Award.

                 (3)        The Restricted Stock Award pursuant to which this election relates was issued under the Gevity HR, Inc. 2005 Stock Incentive Plan (the “Plan”) in the name of  for a total of       

                           shares of Common Stock. This election relates to                                  shares of Common Stock to be delivered upon the vesting of a portion of the Restricted Shares, provided that the numbers set forth above shall be deemed changed as appropriate to reflect stock splits and other adjustments contemplated by the applicable Plan provisions.

 

 

(4)

I hereby elect to pay the minimum required federal, state and local, if any, tax withholding obligations arising from the vesting event by:

o             paying the Company an amount equal to the tax withholding obligation in cash or by check no later than two business days after the Vesting Date.

o             having certain of the Vested Shares withheld and returned to the Company, in an amount or number sufficient to satisfy the tax withholding obligations. I understand that the Company shall withhold from the Vested Shares a whole number of shares of Common Stock having the value to satisfy the minimum statutory tax withholding obligation.

 

1

 

 

 

o             selling certain of the Vested Shares through the Company’s designated broker, Raymond James and Associates, and requesting payment of cash to the Company in an amount necessary to satisfy the minimum statutory tax withholding obligation.

 

(5) I understand that this Withholding Election is made prior to the Vesting Date and is otherwise timely made pursuant to Section 1 of the Restricted Stock Award and Section 5.1 of the Plan.

 

(6) The Plan has been made available to me by the Company, I have read and understand the Plan and the Restricted Stock Award and I have no reason to believe that any of the conditions therein to the making of this Withholding Election have not been met. Capitalized terms used in this Notice of Withholding Election without definition shall have the meanings given to them in the Plan.

 

 

Name (Print):

                                                                            

 

 

Social Security Number:                                                                  

 

                

Street Address:

                                                             

 

                

City, State, Zip Code

                                                             

 

 

Signature

                                                               

Date                             

 

 

 

 

 

2

 

 

 

This excerpt taken from the GVHR 10-Q filed Jul 28, 2005.

RESTRICTED STOCK AWARD

 

Vesting Schedule

 

I.

The Restricted Shares shall become vested in accordance with the following Vesting Schedule:

 

 

Percentage of Restricted Shares

Years of Vesting Service

which are Vested Shares

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

II.

The Recipient shall receive one Year of Vesting Service for each full consecutive one-year period during the period beginning ____________, 200___ and ending on the date the Recipient ceases to be a member of the Board of Directors of the Company or any Subsidiary, regardless of the reason. Except as provided in Section III below, any portion of the Restricted Shares which are not vested as of the date the Recipient ceases be a member of the Board of Directors of the Company or any Subsidiary shall be forfeited.

 

III.

Notwithstanding the provisions of Sections I or II above, in the event of the occurrence of any Change in Control following the Grant Date but prior to the date the Recipient ceases to be a member of the Board of Directors of the Company or any Subsidiary, any previously unvested Restricted Shares shall become immediately vested.

 

 

 

 

 

 

 

 

Schedule 1-Page 1 of 1

 

 

 

EXCERPTS ON THIS PAGE:

8-K
Nov 14, 2005
10-Q
Jul 28, 2005

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