This excerpt taken from the NFX 8-K filed May 11, 2009.
Restricted Stock Units”), on the following terms and conditions:
The Restricted Stock Units shall be subject to the prohibitions and restrictions set forth herein with respect to the sale or other disposition of such Restricted Stock Units and the obligation to forfeit and surrender such Restricted Stock Units to the Company (the “
This excerpt taken from the NFX DEF 14A filed Mar 16, 2009.
Restricted Stock Units. The plan also provides for the grant of restricted stock units. Each unit represents the right to receive in specified circumstances either one share of our common stock or the fair market value, in cash, of one share of our common stock. Participants will not have the right to vote shares reflected by restricted stock units or have the right to receive dividends. The committee will determine the participants to whom restricted stock units will be awarded, the number of units to be awarded, the duration of the restricted period, the conditions under which the units may be forfeited to us and any other terms and conditions. Restricted stock units may not be disposed of by a participant, and settlement of vested restricted stock units shall be made in cash or in shares (subject to the terms of each award document) of our common stock as soon as practicable after vesting but in no event later than 30 days after vesting.
The committee also may establish performance targets applicable to restricted stock unit awards, including in such a manner as may permit lapse of restrictions with respect thereto to qualify as “performance-based compensation” pursuant to Section 162(m)(4)(C) of the Internal Revenue Code. Restrictions may lapse upon the attainment of one or more performance targets based on, among others: (1) the market price of our common stock; (2) our consolidated earnings per share; (3) our market share; (4) the market share of one of our business units; (5) our sales; (6) the sales of one of our business units; (7) our or one of our business unit’s consolidated net income (before or after taxes); (8) our or one of our business unit’s consolidated cash flow return on investment; (9) our or one of our business unit’s consolidated earnings before or after interest, taxes and depreciation, depletion and amortization; (10) the economic value added; (11) the return on stockholders’ equity achieved by us; (12) reserve additions or revisions; (13) economic value added from reserves; (14) total capitalization; (15) total stockholder return; (16) assets; (17) exploration successes; (18) production volumes; (19) finding and development costs; (20) cost reductions and savings; (21) return on sales; or (22) profit margins.