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HSY » Topics » What are other cash-based awards and stock-based awards?

This excerpt taken from the HSY DEF 14A filed Mar 16, 2007.

What are other cash-based awards and stock-based awards?

Currently, awards under the Incentive Plan, Broad Based Plans and Directors’ Compensation Plan are limited to annual cash incentive awards, performance stock units, restricted stock units, stock options and SARs. The EICP permits the Committee to grant other forms of cash-based or stock-based awards with such terms and conditions as the Committee determines. The Board determined to include this provision in order for Hershey to have flexibility to develop additional forms of awards that may not fit within the specific types of awards discussed above.

Cash-based and stock-based awards are subject to additional limits set forth in the EICP. During any calendar year, no participant may receive a cash-based award with a value in excess of $10 million or a stock-based award in excess of 500,000 shares.

We will issue shares of our Common Stock or pay cash equal to the fair market value of the shares of our Common Stock subject to any award when such awards are vested or earned, subject to required tax withholding.

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