| | | | | Award Type: | Fair Value Determination | Vesting | Expense
Recognition‡ | Expense
Measurement | Restricted Share Awards | | | | | Service Condition | Closing stock price on date of grant | Ratably;
3 or 5 years | Straight-line | Fair value at grant date | Performance Condition | Closing stock price on date of grant | Cliff;
3 years | Straight-line;
Adjusted based on meeting or exceeding performance targets | Evaluated quarterly;
0 - 200% of fair value at grant date depending on performance | Market Condition | Monte-Carlo Simulation | Cliff;
3 years | Straight-line;
Recognized even if condition is not met | Fair value at grant date | Stock Options† | Black-Scholes Options Pricing Model | Ratably;
3 or 5 years | Straight-line | Fair value at grant date |
†Stock options expire no later than 10 years after the grant date. ‡Expense is reversed if award is forfeited prior to vesting.
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