Exhibit 99.1
Chairman’s Outperformance Plan
Goal
To provide the Chairman with an opportunity to receive a substantial reward for delivering exceptional shareholder returns.
Overview
The Chairman’s outperformance plan will use a 15% threshold level of performance for the 4 year period. Stock will only be earned if actual performance exceeds the 15% threshold in total shareholder return.
Terms
| 1. | Plan commencement July 14, 2006 |
| 2. | Plan Valuation date July 13, 2010 |
| 3. | The amount of the reward is based on the average closing share price for the 20-day period preceding the valuation date. The table below presents the award value at different closing share prices. The amount of the award is equal to 10% of the increase in value of the company over a 15% compound return for the shareholders (TSR). The value of the Company is based on 53.9 million shares of common stock outstanding. |
Growth | | Ending Share Price | | Award Value (Dollars Millions) | | # of Shares Required |
| | 15 | % | | $ | 53.73 | | | $ | 0 | | | | -- | |
| | 17.5 | % | | $ | 59.05 | | | $ | 28.7 | | | | 485,602 | |
| | 20 | % | | $ | 64.77 | | | $ | 59.5 | | | | 918,722 | |
| | 22.5 | % | | $ | 70.88 | | | $ | 92.4 | | | | 1,304,155 | |
| | 25 | % | | $ | 77.43 | | | $ | 127.7 | | | | 1,649,786 | |
| 4. | The share prices are ex-dividend (the share price that would be reported in the financial press or on a financial website). |
| 5. | The award will be paid with stock of the Company. |
| 6. | A change of control would accelerate the valuation date and determination of the vesting. |
7. | The Company has only 1.4 million shares available for the Chairman’s Outperformance Plan. Therefore, the amount of shares available for the plan will be capped at 1.4 million shares. |
__________
1 Subject to share availability
