![]() ![]() The Committee will also review and approve of the Award to be granted to each Participant for the then current year, taking into consideration the (i) Participant’s contribution to the Company, (ii) results of the most recent national compensation survey data, and (iii) Company’s performance. The Committee will review the terms and conditions of the ELTIP annually in February of each year. Participants may vote and receive cash dividends on such Restricted Shares, as applicable, after the Grant Date.Īnnual Review. All Restricted Shares will be held by the Company or issued in book entry form until their Vesting Dates, and physically distributed to the Participant thereafter, with any legends required by applicable Rules. Unless otherwise determined by the Committee, grants of Restricted Shares will vest as follows: 100% of each Award on the third anniversary of its Grant Date (each such anniversary, a “Vesting Date”) as provided in the applicable Award Agreement, unless forfeited before such Vesting Date.ĭistribution. ![]() Each “Restricted Share” is one Share of the Common Stock (subject to adjustments per the Plan) which is subject to forfeiture before its Vesting Date, as set forth below. Each ELTIP Participant will be eligible to receive an annual Award of Restricted Shares as determined by the Committee. ![]() The Company’s Executive Long-Term Incentive Program (“ELTIP”) under the 2015 Sypris Omnibus Plan (“Plan”) shall be effective for all Awards incorporating these terms to advance the Company’s growth and prosperity by providing long-term financial incentives to its key employees, and to further the Company’s philosophy of equity ownership by the Company’s officers in accordance with the Company’s Equity Ownership Guidelines.Īwards. ![]()
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