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Tuesday, April 29, 2003 12:30:04 AM
Under this annual per-person limitation, no participant may in any year be granted share-denominated Awards under the 2000 Plan relating to more than his or her “Annual Limit” for each type of Award. The Annual Limit equals 300,000 shares plus the amount of the participant’s unused Annual Limit relating to the same type of Award as of the close of the previous year, subject to adjustment for splits and other extraordinary corporate events. For purposes of this limitation, options, SARs, restricted stock, deferred stock, and other stock-based awards are separate types of Awards subject to a separate limitation. In the case of cash-denominated Awards, the 2000 Plan limits performance Awards that may be earned by a participant in any year to the participant’s defined Annual Limit, which for this purpose equals $1.5 million plus the amount of the participant’s unused cash Annual Limit as of the close of the previous year.
So you can see there are definite "caps" on compensation abuse, LOL!
Once
The best way to convince a fool that he is wrong is to let him have his own way.
~ ~ ~ Josh Billings
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