Rosetta Stone 2012 Annual Report Download - page 116
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Table of Contents
Each performance goal has a range of payout levels depending on the achievement of the goal ranging from zero to 200% of the incentive target.
The maximum number of shares to be issued as performance share awards is 883,262 and the maximum cash payout is $3.17 million, although
executives hired after the approval of the plan may be allowed to participate in the plan at the discretion of the board of directors, which could raise the
overall share awards and cash payouts. The minimum number of shares to be issued as performance stock awards is zero and the minimum cash payout
is zero. If performance stock awards are granted, the shares will be 100% vested as of the date of grant. There will be no subsequent holding period
requirement.
Before any payment of cash or the granting of performance stock awards pursuant to an award granted under the LTIP can be made, the material
terms of the performance goals must be disclosed to, and subsequently approved by, the stockholders, in accordance with Treasury Regulation
Section 1.162-27(e)(4). If the Company's stockholders do not approve the material terms of the performance goals prior to the end of the 2013 fiscal
year, then any award under the LTIP shall be null and void, and any executive who has received an award under the LTIP shall have no rights to any
payment of cash or performance stock awards pursuant to such award.
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