SkyWest Airlines 2013 Annual Report Download - page 182

date, or, if there is no closing price on that date, then on the last preceding date on which such a
closing price was reported; (ii) if the Shares are not listed on any Securities Exchange but are quoted
in an inter-dealer quotation system on a last sale basis, the final ask price of the Shares reported on
the inter-dealer quotation system for such date, or, if there is no such sale on such date, then on the
last preceding date on which a sale was reported; or (iii) if the Shares are neither listed on a Securities
Exchange nor quoted on an inter-dealer quotation system on a last sale basis, the amount determined
by the Committee to be the fair market value of the Shares as determined by the Committee in its sole
discretion. The Fair Market Value of any property other than Shares shall mean the market value of
such property determined by such methods or procedures as shall be established from time to time by
the Committee.
2.13. ‘‘Incentive Stock Option’’ shall mean an Option which when granted is intended to qualify as
an incentive stock option for purposes of Section 422 of the Code.
2.14. ‘‘Limitations’’ shall have the meaning set forth in Section 10.5.
2.15. ‘‘Option’’ shall mean any right granted to a Participant under the Plan allowing such
Participant to purchase Shares at such price or prices and during such period or periods as the
Committee shall determine.
2.16. ‘‘Other Share-Based Award’’ shall have the meaning set forth in Section 8.1.
2.17. ‘‘Participant’’ shall mean an Employee, Director or Consultant who is selected by the
Committee to receive an Award under the Plan.
2.18. ‘‘Payee’’ shall have the meaning set forth in Section 13.2.
2.19. ‘‘Performance Award’’ shall mean any Award of Performance Cash, Performance Shares or
Performance Units granted pursuant to Article 9.
2.20. ‘‘Performance Cash’’ shall mean any cash incentives granted pursuant to Article 9 payable to
the Participant upon the achievement of such performance goals as the Committee shall establish.
2.21. ‘‘Performance Period’’ shall mean the period established by the Committee during which any
performance goals specified by the Committee with respect to a Performance Award are to be
measured.
2.22. ‘‘Performance Share’’ shall mean any grant pursuant to Article 9 of a unit valued by reference
to a designated number of Shares, which value may be paid to the Participant upon achievement of
such performance goals as the Committee shall establish.
2.23. ‘‘Performance Unit’’ shall mean any grant pursuant to Article 9 of a unit valued by reference
to a designated amount of cash or property other than Shares, which value may be paid to the
Participant upon achievement of such performance goals during the Performance Period as the
Committee shall establish.
2.24. ‘‘Permitted Assignee’’ shall have the meaning set forth in Section 12.3.
2.25. ‘‘Plan’’ shall mean the SkyWest, Inc. 2010 Long-Term Incentive Plan as set forth herein, and
as subsequently amended from time to time.
2.26. ‘‘Prior Plans’’ shall mean, collectively, the Company’s 2006 Long-Term Incentive Plan and the
Company’s prior Executive Stock Incentive Plan and Allshare Stock Option Plan.
2.27. ‘‘Restricted Stock’’ shall mean any Share issued with the restriction that the holder may not
sell, transfer, pledge or assign such Share and with such other restrictions as the Committee, in its sole
discretion, may impose, which restrictions may lapse separately or in combination at such time or times,
in installments or otherwise, as the Committee may deem appropriate.
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