Black & Decker 2015 Annual Report Download - page 138

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consist of an Award Letter, signed by the Chairman & Chief Executive
Officer or the Senior Vice President, Human Resources , and the documents
referenced therein.
Disability. Disability has the meaning provided in Section 22(e)(3) of the
Internal Revenue Code of 1986, or any successor provision.
Executive Officer. A person who the Company has designated an Executive
Officer as such term is defined in Rule 3b-7 under the Securities Exchange
Act of 1934 and as such term is used in Item 401(b) of Regulation S-K.
Measurement Period. The period during which financial performance is
measured against the applicable Performance Goals as set forth in the Award
Documents.
Performance Goals. Goals established by the Compensation and
Organization Committee of the Board of Directors or, pursuant to an
appropriate delegation of authority, the Chief Executive Officer, for
performance of the Company as a whole and/or specific businesses or
functions during the Measurement Period. The Performance Goals applicable
to a Participant for a particular Measurement Period, if not enclosed with the
Award Letter, will be communicated to the Participant by a member of the
Company’s Human Resources Department.
Retirement. The Participant’s termination of employment with the Company
and each of its Affiliates after attaining the age of 55 and completing 10 years
of service.
Settlement Date. The date payments are made to Participants based on the
Performance Goals achieved for the Measurement Period. The payments will
typically occur by March 15 of the year following the Measurement Period.
Shares. Shares of Unrestricted Stock to be issued if Performance Goals are
achieved, as specified in the Award Documents.
Unrestricted Stock. Common Stock of the Company that may be sold at any
time.