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WFR » Topics » Other Terms

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

Other Terms

Generally, without the Compensation Committee’s consent, an individual’s rights under the plan may not be assigned or transferred except in the event of death.

The plan will remain in effect until terminated by the Compensation Committee. The plan will continue thereafter, however, until all awards previously granted under the plan are satisfied or otherwise terminated. No awards may be granted under the plan after December 7, 2011. The Compensation Committee may at any time amend, suspend or terminate the plan. No amendment, suspension or termination, however, may adversely affect a grantee’s rights under any previously granted award without the consent of the grantee.

The Compensation Committee may in its discretion terminate any option or restricted share then outstanding without amendment to the plan or the award agreement and pay to the holder thereof:

 

  •  

With respect to options, an amount equal to the excess of the then fair market value of MEMC common stock over the exercise price of the options; and

 

  •  

With respect to restricted stock and stock units, an amount equal to the then fair market value of MEMC common stock.

 

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"Other Terms" elsewhere:

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