Chrysler 2007 Annual Report Download - page 158

157Fiat Group Consolidated Financial Statements at December 31, 2007 - Notes
Stock Option plans linked to CNH Global N.V. ordinary shares
In the Agricultural and Construction Equipment Sector, CNH Global N.V. (“CNH”) has granted share-based compensation to
directors officers and employees which are linked to shares and which have the following terms:
The CNH Global N.V. Outside Directors’ Compensation Plan (“CNH Directors’ Plan”)
This plan, as amended on April 28, 2006, provides for the payment of the following to independent outside members of the CNH
Global N.V. Board in the form of cash, and/or common shares of CNH, and/or options to purchase common shares of CNH.
■an annual retainer fee of 65,000 USD;
■a committee membership fee of 25,000 USD; and
■a committee chair fee of 10,000 USD (collectively, the “Fees”).
Each quarter the outside directors elect the form of payment of ¼ of their Fees. If the elected form is options, the outside director
will receive as many options as the amount of Fees that the director elects to forego, multiplied by four and divided by the fair
market value of a common share, such fair market value being equal to the average of the highest and lowest sale price of a CNH
Global N.V. common share on the last trading day of the New York Stock Exchange preceding the start of each quarter. Stock
options granted as a result of such an election vest immediately, but shares purchased under options cannot be sold for six months
following the date of exercise.
At December 31, 2007 and 2006, there were 770,600 and 772,296 common shares, respectively reserved for issuance under the
CNH Directors’ Plan. Outside directors do not receive benefits upon termination of their service as directors.
A summary of outstanding stock options under the CNH Director Plan at December 31, 2007 and 2006 is as follows:
Options Weighted Average Options Weighted Average
outstanding at remaining contractual outstanding at remaining contractual
Exercise price (in USD) December 31, 2007 life (in years) December 31, 2006 life (in years)
9.23 – 15.70 4,000 5.4 23,271 6.2
15.71 – 26.20 19,656 7.7 50,150 8.6
26.21 – 40.00 37,252 8.5 48,104 8.2
40.01 – 56.00 2,896 9.5 1,622 3.8
56.01 – 77.05 10,037 7.1 3,623 3.3
Total 73,841 126,770