Rite Aid 2010 Annual Report Download - page 92

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RITE AID CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
For the Years Ended February 27, 2010, February 28, 2009 and March 1, 2008
(In thousands, except per share amounts)
15. Stock Option and Stock Award Plans (Continued)
any related option or SAR. Under the 1990 Plan, the payment for SARs will be made in shares, cash
or a combination of cash and shares at the discretion of the Compensation Committee.
In November 1999, the Company adopted the 1999 Stock Option Plan (the 1999 Plan), under
which 10,000 shares of common stock are authorized for the granting of stock options at the discretion
of the Board of Directors.
In December 2000, the Company adopted the 2000 Omnibus Equity Plan (the 2000 Plan) under
which 22,000 shares of common stock are reserved for granting of restricted stock, stock options,
phantom stock, stock bonus awards and other stock awards at the discretion of the Board of Directors.
In February 2001, the Company adopted the 2001 Stock Option Plan (the 2001 Plan) which was
approved by the shareholders under which 20,000 shares of common stock are authorized for granting
of stock options at the discretion of the Board of Directors.
In April 2004, the Board of Directors adopted the 2004 Omnibus Equity Plan, which was approved
by the shareholders. Under the plan, 20,000 shares of common stock are authorized for granting of
restricted stock, stock options, phantom stock, stock bonus awards and other equity based awards at the
discretion of the Board of Directors.
In January 2007, the stockholders of Rite Aid Corporation approved the adoption of the Rite Aid
Corporation 2006 Omnibus Equity Plan. Under the plan, 50,000 shares of Rite Aid common stock are
available for granting of restricted stock, stock options, phantom stock, stock bonus awards and other
equity based awards at the discretion of the Board of Directors. The adoption of the 2006 Omnibus
Equity Plan became effective upon the closing of the Acquisition.
All of the plans provide for the Board of Directors (or at its election, the Compensation
Committee) to determine both when and in what manner options may be exercised; however, it may
not be more than 10 years from the date of grant. All of the plans provide that stock options may be
granted at prices that are not less than the fair market value of a share of common stock on the date
of grant. The aggregate number of shares authorized for issuance for all plans is 91,694 as of
February 27, 2010.
The Company has issued options to certain senior executives pursuant to their individual
employment contracts. These options were not issued out of the plans listed above, but are included in
the option tables herein. As of February 27, 2010, all of these options expired.
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