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These excerpts taken from the PCG 10-K filed Feb 24, 2009. Other Termination of
Service. If the Participant’s Service terminates for any
reason other than those enumerated in Sections 7.5(a)(i) and 7.5(a)(ii), (1) any
unvested shares of Restricted Stock shall be forfeited to the Company and from
and after the date of such termination, the Participant shall cease to be a
shareholder with respect to such forfeited shares and shall have no dividend,
voting or other rights with respect thereto and (2) the unvested portion of
any Nonstatutory Stock Option shall terminate, and any portion of the
Nonstatutory Stock Option exercisable by the Participant on the date on which
the Participant’s Service terminated
may be exercised until the earlier of (a) the date that is three (3) months
after the date
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on which
the Participant’s Service terminated, or (b) the Option Expiration
Date. If the Nonemployee Director Separates from Service prior to the
occurrence of any of the distribution events set forth in Section 7.4(c),
all Restricted Stock Units credited to the Participant’s account shall be
forfeited on the date of such Separation from Service; provided, however, that
if the Nonemployee Director Separates from Service due to a pending Disability
determination such forfeiture shall not occur until a finding that such
Disability has not occurred.
(iv) Notwithstanding
the provisions of Section 7.5(i) through 7.5(iii) above, the Board, in its sole
discretion, may establish different terms and conditions pertaining to
Nonemployee Director Awards.
(b) Other Termination
of Service. If the Participant’s Service terminates for any
reason except death or Disability before the completion of the Performance
Period applicable to the Performance Award, such Award shall be forfeited in its
entirety; provided, however, that in the event of an involuntary termination of
the Participant’s Service, the Committee, in its sole discretion, may waive the
automatic forfeiture of all or any portion of any such Award.
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10.8 These excerpts taken from the PCG 10-K filed Feb 22, 2008. Other Termination
of Service. If the Participant’s Service terminates for any
reason except death or Disability before the completion of the Performance
Period
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applicable
to the Performance Award, such Award shall be forfeited in its entirety;
provided, however, that in the event of an involuntary termination of the
Participant’s Service, the Committee, in its sole discretion, may waive the
automatic forfeiture of all or any portion of any such Award.
10.8 Other Termination of Service. If the Participant’s Service terminates for any reason except death or Disability before the completion of the Performance Period 24 applicable to the Performance Award, such Award shall be forfeited in its entirety; provided, however, that in the event of an involuntary termination of the Participant’s Service, the Committee, in its sole discretion, may waive the automatic forfeiture of all or any portion of any such Award. 10.8 | EXCERPTS ON THIS PAGE:
RELATED TOPICS for PCG: |
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