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This excerpt taken from the PCG 10-K filed Feb 24, 2009. Annual Election to Receive
Nonstatutory Stock Option and Restricted Stock Units. On a
date no later than December 31 of each calendar year during the term of the
Plan, each person who is then a Nonemployee Director shall deliver to the Board
a written election to receive either Nonstatutory Stock Options or Restricted
Stock Units, or both, with an aggregate value of $45,000, on the Grant Date for
the following calendar year, provided the person
15
continues
to be a Nonemployee Director on the Grant Date. A Nonemployee
Director may allocate between Nonstatutory Stock Options and Restricted Stock
Units in minimum increments with a value equal to $5,000, as determined in
accordance with Sections 7.3 and 7.4. All awards of Nonstatutory
Stock Options and Restricted Stock Units made to Nonemployee Directors shall
comply with the provisions of Sections 7.3 and 7.4, respectively. A
Nonemployee Director who fails to make a timely election or who first becomes a
Nonemployee Director after December 31 but before the Grant Date for the
following calendar year shall be awarded Nonstatutory Stock Options and
Restricted Stock Units each with a value of $22,500, as determined in accordance
with Sections 7.3 and 7.4, provided the Nonemployee Director continues to be a
Nonemployee Director on the Grant Date.
7.3 These excerpts taken from the PCG 10-K filed Feb 22, 2008. Annual Election to Receive
Nonstatutory Stock Option and Restricted Stock Units. On a
date no later than December 31 of each calendar year during the term of the
Plan, each person who is then a Nonemployee Director shall deliver to the Board
a written election to receive either Nonstatutory Stock Options or Restricted
Stock Units, or both, with an aggregate value of $40,000, on the Grant Date for
the following calendar year, provided the person continues to be a Nonemployee
Director on the Grant Date. A Nonemployee Director may allocate
between Nonstatutory Stock Options and Restricted Stock Units in minimum
increments with a value equal to $5,000, as determined in accordance with
Sections 7.3 and 7.4. All awards of Nonstatutory Stock Options and
Restricted Stock Units made to Nonemployee Directors shall comply with the
provisions of Sections 7.3 and 7.4, respectively. A Nonemployee
Director who fails to make a timely election or who first becomes a Nonemployee
Director after December 31 but before the Grant Date for the following
calendar year shall be awarded Nonstatutory Stock Options and Restricted Stock
Units each with a value of $20,000, as determined in accordance with Sections
7.3 and 7.4, provided the Nonemployee Director continues to be a Nonemployee
Director on the Grant Date.
7.3 Annual Election to Receive Nonstatutory Stock Option and Restricted Stock Units. On a date no later than December 31 of each calendar year during the term of the Plan, each person who is then a Nonemployee Director shall deliver to the Board a written election to receive either Nonstatutory Stock Options or Restricted Stock Units, or both, with an aggregate value of $40,000, on the Grant Date for the following calendar year, provided the person continues to be a Nonemployee Director on the Grant Date. A Nonemployee Director may allocate between Nonstatutory Stock Options and Restricted Stock Units in minimum increments with a value equal to $5,000, as determined in accordance with Sections 7.3 and 7.4. All awards of Nonstatutory Stock Options and Restricted Stock Units made to Nonemployee Directors shall comply with the provisions of Sections 7.3 and 7.4, respectively. A Nonemployee Director who fails to make a timely election or who first becomes a Nonemployee Director after December 31 but before the Grant Date for the following calendar year shall be awarded Nonstatutory Stock Options and Restricted Stock Units each with a value of $20,000, as determined in accordance with Sections 7.3 and 7.4, provided the Nonemployee Director continues to be a Nonemployee Director on the Grant Date. 7.3 | EXCERPTS ON THIS PAGE:
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