Saks Fifth Avenue 2010 Annual Report Download - page 19
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(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 29, 2011, under the 1997 Plan, there were (i) options
outstanding to purchase 51 shares, (ii) 12 shares of restricted stock outstanding, and (iii) no shares
remaining available for issuance.
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