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This excerpt taken from the TGT DEF 14A filed Apr 10, 2006. Stock Options. Stock options were granted at the market value
of the underlying Common Stock on the date of grant and have a 10-year
term. The options are generally exercisable 25% after the first year, with an
additional 25% exercisable after each of the next three years. To encourage
continued service and to assist with orderly succession planning, option
holders can qualify for an extended post-termination exercise period of
up to five years (but not to exceed the ten-year term of the option) if they
have at least 15 years of service and comply with specified advance notice of
resignation requirements.
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