Chrysler 2008 Annual Report Download - page 299

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The contractual terms of the 2006 plan are as follows:
Strike price Number of Vesting
Plan Recipient Expiry date (€) options granted Vesting date portion
Stock Option November 2006 Chief Executive Officer 3 November 2014 13.37 5,000,000 November 2007 25%
November 2008 25%
November 2009 25%
November 2010 25%
Stock Option November 2006 Chief Executive Officer 3 November 2014 13.37 5,000,000 1st Quarter 2008 (*) 25%*NMC
1st Quarter 2009 (*) 25%*NMC
1st Quarter 2010 (*) 25%*NMC
1st Quarter 2011 (*) 25%*NMC
Stock Option November 2006 Executives 3 November 2014 13.37 10,000,000 1st Quarter 2008 (*) 25%*NMC
1st Quarter 2009 (*) 25%*NMC
1st Quarter 2010 (*) 25%*NMC
1st Quarter 2011 (*) 25%*NMC
(*) Upon approval of the financial statements for the previous year.
On 26 February 2008 the Board of Directors of Fiat S.p.A. passed an incentive plan which was subsequently approved by
shareholders in the Annual General Meeting on 31 March 2008, by which an overall maximum of 4 million financial instruments
may be assigned on a periodic basis until 2010 in the form of stock options and/or stock appreciation rights. The plan addresses the
attraction and retention of managers in key roles who have been hired or promoted following the granting of the stock option plan
of 3 November 2006 or who have assumed greater responsibilities since the granting of the 2006 plan and has the features of that
plan in terms of performance vesting and exercise rights. Implementing the first grant under this program on 23 July 2008, the
Board of Directors assigned 1,418,500 stock options which have an exercise price of €10.24 and a vesting period of three years,
which are subject to achieving certain pre-determined profitability targets (
Non-Market Conditions or “NMC”
) in the reference
period and which may be exercised from the date on which the 2010 Financial statements are approved.
The contractual terms of the 2008 plan are as follows:
Strike price Number of
Plan Recipient Expiry date (€) options granted Vesting date % vested
Stock Option July 2008 Managers 3 November 2014 10.24 1,418,500 Q1 2009 (*) 18%*NMC
Q1 2010 (*) 41%*NMC
Q1 2011 (*) 41%*NMC
(*) Upon approval of the financial statements for the previous year.
Fiat S.p.A. Statutory Financial Statements at 31 December 2008298