This excerpt taken from the AMTD DEF 14A filed Jan 25, 2007.
Long-Term Incentive Plans Awards in Last Fiscal Year
The Company made a special one-time performance restricted stock unit award to executives under the Companys 1996 Long-Term Incentive Plan (LTIP) designed to provide an incentive for the realization of operating cost synergies from the TD Waterhouse acquisition. The number of shares ultimately received depends on the performance of the Company against specified performance goals, generally over a three-year period. At the end of the performance period, the number of shares of common stock issued will be determined by adjusting upward or downward from the target in a range between zero and 120 percent. Shares of common stock will be issued following the end of the performance period. Therefore, the actual number of shares ultimately issued will differ depending on performance. The awards have specific rules related to the treatment of the award in such events as death, disability, retirement and termination of employment without cause or following a change in control.
The following table sets forth special one-time long-term awards in the form of PRSUs granted to Named Executive Officers during fiscal 2006. The table does not include PRSUs granted to the executives as part of their fiscal 2006 MIP bonus, the value of which is reflected in the Bonus column of the Summary Compensation Table.