FairPoint Communications 2004 Annual Report Download - page 474

“Incentive Stock” shall mean an award of Common Stock that is forfeitable until the achievement of specified Performance Criteria as
provided for in Section 6.1.
“Incentive Unit” shall mean a contractual right to receive Common Stock, or cash based on the Fair Market Value of Common Stock,
made pursuant to Section 6.1 that is forfeitable by the Participant until the achievement of specified Performance Criteria or until otherwise
determined by the Committee or in accordance with the terms of the Plan.
“ISOs” has the meaning given in Section 4.1.
“Kelso” means Kelso Investment Associates V, L.P. and any successor investment vehicle managed by Kelso.
“Kelso Entities” means collectively, Kelso and Kelso Equity Partners V, L.P.
“Normal Retirement” means a termination of the Participant’s employment under circumstances that the Committee determines as
qualifying as retirement at normal retirement age for purposes of the Plan.
“NSOs” has the meaning given in Section 4.1.
“Option” means the right to purchase Common Stock at a stated price for a specified period of time.
“Participant” means any Employee or prospective Employee of the Company designated by the Committee to receive an Award under the
Plan.
“Performance Criteria” has the meaning given in Section 6.2(a).
“Performance Period” means the period, as determined by the Committee, during which the performance of the Company, any Subsidiary,
any business unit and any individual is measured to determine whether and the extent to which the applicable performance measures have been
achieved.
“Period of Restriction” means the period during which a Restricted Stock or Restricted Unit is subject to forfeiture.
“Permitted Transferees” has the meaning given in Section 14.1.
“Plan” means this FairPoint Communications, Inc. 2005 Stock Incentive Plan, as the same may be amended from time to time.
“Public Offering” means a public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended, that
covers (together with prior registrations) ( a) not less than 20% of the outstanding Shares,
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