RSAS. On February 20, 1997, COMSAT shall grant to the Executive 20,000 Restricted Stock Awards ("RSAs") under the Stock Plan. Such RSAs shall vest in accordance with (i) the performance standards for the two-year performance period following the date of grant which are adopted by the Compensation Committee for RSAs granted generally on such date, and (ii) the following schedule thereafter for the portion of such RSAs which are earned during the performance period: (x) 20% of such portion on and after February 20, 2000; (y) an additional 40% of such portion on and after February 20, 2001; and (z) the remaining 40% of such portion on and after February 20, 2002.
Appears in 2 contracts
Sources: Employment Agreement (Comsat Corp), Employment Agreement (Comsat Corp)
RSAS. On February 20, 1997, COMSAT shall grant to the Executive ---- 20,000 Restricted Stock Awards ("RSAs") under the Stock Plan. Such RSAs shall vest in accordance with (i) the performance standards for the two-year performance period following the date of grant which are adopted by the Compensation Committee for RSAs granted generally on such date, and (ii) the following schedule thereafter for the portion of such RSAs which are earned during the performance period: (x) 20% of such portion on and after February 20, 2000; (y) an additional 40% of such portion on and after February 20, 2001; and (z) the remaining 40% of such portion on and after February 20, 2002.
Appears in 1 contract
Sources: Employment Agreement (Comsat Corp)