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DTV » Topics » 6. TARGET AWARDS

This excerpt taken from the DTV 10-K filed Mar 1, 2005.

6. TARGET AWARDS

 

A. Considering the level of responsibility and contribution made by the Participant to the Company, individual Participant target awards (“Target Award”) are computed based on a percentage of the Participant’s Base Salary.

 

B. Each Employee selected to participate in the Plan will be granted an Award payable in Stock subject to meeting the requirements of Articles 7 and 8.

 

C. The number of shares of Hughes Common Stock to be awarded to an Employee shall be determined by dividing the total value of the Target Award by the average of the closing prices of Hughes Common Stock as reported in a publicly-available stock price quotation source for each trading day in the month immediately preceding the date the Committee approves the Target Award, rounded up to the next whole share.

 

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D. During the Performance Period and at all times prior to the distribution of the Award to the Employee, Hughes shall retain all rights incident to the Stock.

 

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