Dollar Rent A Car 2011 Annual Report Download - page 150
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(iv) The Performance Units Grant Agreement dated December 3, 2010 for 16,000 performance units.
Any options not vested as of the Effective Date under the agreements described in (i), (ii) or (iii) of this Section 2(d) shall continue to vest as provided
in said agreements for a period of three (3) years from the Effective Date, and all vested options may be exercised for a period of three (3) years
following the Effective Date. Executive acknowledges and agrees that all performance units granted in the agreement described in (iv) of this Section
2(d) are forfeited as of the Effective Date pursuant to its terms as all such units are scheduled to vest subsequent to the Effective Date and he will
have no rights or entitlements to receive any payments or benefits in respect of such performance units pursuant to the Performance Units Grant
Agreement or otherwise.
(e) 2011 Executive Incentive Compensation. Provided the Company meets its minimum earnings before interest, taxes, depreciation
and amortization (“EBIDTA”) requirements under the Company 2011 Executive Incentive Compensation Plan (the “ 2011 Plan”), as determined and
approved by the Company’s Human Resources and Compensation Committee, Executive will be entitled to receive the cash portion of any incentive
compensation awarded to him pursuant to the 2011 Plan at the time the incentive compensation is paid to the executives of the Company pursuant to
the 2011 Plan, which is anticipated to be no later than March 15, 2012. Executive will not receive any restricted stock or performance units if
awarded pursuant to the 2011 Plan as they are subject to long term vesting terms, and is not eligible to participate in any incentive compensation plan
for any year subsequent to 2011. The Company currently expects the cash portion of the 2011 Plan to exceed the cash bonus Executive was awarded
under the 2010 incentive compensation plan; However, the actual award will be subject to actual performance and The Human Resources and
Compensation Committee approval in March 2012 after the audit is completed.
(f) Company Property. On the Effective Date, Executive shall return to the Company any credit cards, files, computers and other property
issued to, received by or prepared by Executive during his employment, with the exception of the iPad and the iPhone currently in his possesssion,
which the Company is hereby transferring to Executive at no charge.
(g) Life Insurance Policy. Executive has the option to transfer the life insurance policy held by the Company with MassMutual Financial
Group to Executive, at Executive’s cost and expense following the Effective Date, provided he completes such transfer on or before February 1, 2012.
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