PENX » Topics » 2006 Long-Term Incentive Plan

This excerpt taken from the PENX DEF 14A filed Dec 20, 2006.
2006 Long-Term Incentive Plan
The Company has a long term incentive plan pursuant to which options to purchase common stock are granted to officers and certain employees of the Company. The plan is administered by the Executive Compensation and Development Committee of the Board of Directors, which determines to whom the options are granted, the number of shares subject to each option grant, the type of option, the vesting schedule and the exercise price.


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