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GWW » Topics » Participant Award Limits

This excerpt taken from the GWW DEF 14A filed Mar 18, 2005.

Participant Award Limits

        The 2005 Plan also imposes annual per-participant award limits for employees and executives, starting with calendar year 2005. The annual per-participant limits are as follows:

Award(s)
   Annual Limit

Stock Options
 
600,000 shares, plus any unused limit from prior years

SARs
 
600,000 shares, plus any unused limit from prior years

Restricted Stock and Restricted Stock Units
 
200,000 shares, plus any unused limit from prior years

Performance Shares and Performance Units
 
Value of 200,000 shares, plus any unused limit from prior years

Cash-Based Awards
 
$6,000,000, plus any unused limit from prior years

Other Stock-Based Awards
 
200,000 shares, plus any unused limit from prior years

        The number of shares that may be issued or subject to outstanding awards, the option price or grant price applicable to outstanding awards, the annual per-participant award limits, and other value determinations are subject to adjustment by the Compensation Committee of the Board (the "Committee") to reflect stock dividends, stock splits, reverse stock splits, and other corporate events or transactions, including without limitation distributions of stock or property other than normal cash dividends. The Committee may also make adjustments to reflect unusual or nonrecurring events.

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