Attached files
Exhibit 10.4
Dated Effective: September 22, 2010
[Name]
1195 NW Compton Drive
Beaverton, OR 97006
Re: | Amendment to Performance Shares |
Dear [Name]:
As you are already aware, on September 9, 2010 the Compensation Committee of the Board of Directors of Planar Systems, Inc. (the Company) approved the amendment of your outstanding performance shares listed below (the Award(s)) so that the shares set forth below (the Amended Award(s)) will no longer vest and become payable based on the achievement of certain stock price-based performance goals for the original performance period as set forth on the applicable Performance Share Agreement and Notice of Grant, but will instead vest based on the achievement of new performance goals during a new performance period, both of which will be determined by the Committee in its sole discretion upon approval by the Companys Board of Directors of a three- to five-year Strategic Plan during the first half of fiscal year 2011. You will be notified of these performance goals and the new performance period in writing as soon as practicable after the Committee determines them.
Grant Date |
Target Number of Performance Shares |
Original Performance Period | ||
October 10, 2008 |
403,333 | FY 2009 through FY 2010 |
To acknowledge your agreement with this amendment, please sign and deliver to me the Acknowledgment contained in the extra copy of this letter provided for that purpose confirming your agreement to the amendment and the terms of this letter.
Please do not hesitate to contact me at 503-748-1100 if you have any questions regarding this matter.
Very truly yours, | ||
| ||
Gerald Perkel | ||
President and Chief Executive Officer | ||
ACKNOWLEDGED AND ACCEPTED: |
By: |
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Name: |
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Date: |
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