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GWW » Topics » Article 9. Award of Stock Units by the Committee.

This excerpt taken from the GWW 10-Q filed Aug 2, 2006.

Article 9. Award of Stock Units by the Committee.

 

9.1.      Award of Stock Units. Subject to the terms of the Plan, Stock Units may be awarded to Outside Directors in such number, upon such terms, and at such time or times as the Committee shall determine in its discretion. Stock Units may be awarded in substitution for, or replacement of, the rights or interests (whether vested or unvested) of Outside Directors under other plans of the Company.

 

 

 

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               9.2.      Award Agreement. Each Stock Unit Award shall be evidenced by an Award Agreement that shall specify the number of Stock Units to which the Award pertains, the vesting of such Stock Units, the extent (if any) to which a payment is to be made in respect of Stock Units that are unvested upon the termination of an Outside Director’s Service, and such other provisions as the Committee shall determine.

 

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