Saks Fifth Avenue 2009 Annual Report Download - page 22

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Table of Contents
(3) On April 9, 1997, the Board approved the Company’s 1997 Stock-Based Incentive Plan (the “1997 Plan”) to assist in attracting, retaining, and motivating
employees and directors. The Board amended the 1997 Plan several times. The exercise price for all outstanding options awarded under the 1997 Plan
equals the fair market value of the Common Stock on the date of grant. Most options vest in five installments over four years and expire after seven or ten
years. Unvested options generally are forfeited if the executive’s employment is terminated. In the event of a change in control or a potential change in
control, the Board of Directors may accelerate awards under the 1997 Plan or provide that such awards be cashed out in connection with the transaction.
As of January 30, 2010, under the 1997 Plan, there were (i) options outstanding to purchase 257,235 shares, (ii) 14,000 shares of restricted stock
outstanding and unvested, and (iii) no shares remaining available for issuance.
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Source: SAKS INC, 10-K, March 18, 2010 Powered by Morningstar® Document Research℠