Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On
Long Term Target Number Incentive Restricted of Performance Stock Awards Shares Officer 1 2 Joseph Saffire, Chief Executive Officer 11,832 11,832 shares shares Andrew J. Gregoire, Chief Financial Officer 4,023 shares 4,023 shares Edward F. Killeen, Chief Operating Officer 4,023 shares 4,023 shares (1) Vest over 5 years.
(2) No shares will be awarded if threshold performance is not achieved. Provided
threshold performance is achieved, an applicable percentage of the target number between 25% and 200% will be awarded, with 25% of the target number of shares being awarded upon threshold performance, 100% of the target number of shares being awarded upon target performance and 200% of the target number of shares being awarded upon maximum performance. The foregoing description of the long term incentive restricted stock awards and the performance-based awards are qualified in their entirety by the terms of the forms of Long Term Incentive Restricted Stock Award Notice and Performance-Based Award Notice, which are filed as Exhibits 10.1 and 10.2 to this Current Report on Form 8-K, respectively, which exhibits are incorporated herein by reference.
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Item 9.01. Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 10.1 Form of Long Term Incentive Restricted Stock Award Notice 10.2 Form of Performance-Based Award Notice 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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