This excerpt taken from the HSY 10-K filed Feb 20, 2009.
(As reported in The Hershey CompanysSTYLE="margin-top:0px;margin-bottom:0px" ALIGN="center">Current Report on Form 8-K filed February 19, 2009)
FACE="Times New Roman" SIZE="2">On February 16, 2009, the Compensation and Executive Organization Committee (Committee) of our Board of Directors approved 2009 incentive compensation awards for certain of the executive officers who
2009 Annual Incentive Program (AIP) Target Awards. The Committee approved 2009 contingent target awards for our
The Committee may, in its discretion, increase or decrease by up to 30% the component of the final award paid to
The independent directors as a group approved the Committees recommended 2009 AIP contingent target
Performance Stock Units (PSUs) for the 2009-2011 Cycle. The Committee
As a condition to
FACE="Times New Roman" SIZE="2">Mr. West was not required to sign the ECRCA because he continues to be bound by the non-disclosure, non-competition, non-solicitation and non-disparagement provisions of the Amended and Restated Executive
Stock Option Awards. The Committee approved stock option awards under the Incentive Plan for our
RSU Award. Effective February 17, 2009, the Committee also approved a special recognition grant of
SIZE="2">Additional information regarding the compensation of the Companys executive officers will be provided in the Companys Proxy Statement for the 2009 Annual Meeting of Stockholders, which will be filed in March 2009.