The following table sets forth a summary of our consolidated financial data for the periods, and as of the dates indicated. Over the years there have been new website search engines trying to pave their way on being a better search engine, however only two website search engine have been more popular to the world for years: Google and Yahoo. . However, if any other matter that may properly be acted upon properly comes before the Annual Meeting or any adjournment or postponement thereof, the proxies solicited hereby will be voted on such matter in accordance with the discretion of the proxy holders named therein. Notwithstanding anything to the contrary in this Section 7, in the case of the grant of an Option intending to qualify as an Incentive Stock Option: i if the Participant owns stock possessing more than 10% of the combined voting power of all classes of stock of the Corporation a 10% Stockholder , the exercise price of such Option must be at least 110% of the Fair Market Value of the Shares on the date of grant and the Option must expire within a period of not more than five 5 years from the date of grant, and ii Termination of Employment will occur when the person to whom an Award was granted ceases to be an employee as determined in accordance with Section 3401 c of the Code and the regulations promulgated thereunder of the Corporation or any Subsidiary. The components of total direct pay figures represent opportunity and, except for base salary, are not guaranteed amounts.
Unless provided otherwise by the administrator, awards granted by the administrator not at the election of a participant will be subject to a restriction period that will lapse based on the performance of a minimum period of service or the occurrence of any events, including a change in control, as the administrator may determine. Whether you want to attract new members, retain existing ones, drive incremental sales, or reinforce member or brand loyalty, we will work with you to help you achieve those goals. Mirant's ongoing commitment to communities has become synonymous with education, environment and health initiatives, and high safety standards. Infrastructure and Supply Chain Management We believe that our production, processing, transportation and distribution infrastructure enables us to efficiently deliver among the highest quality and freshest product to our customers. The 2011 Form 10-K constitutes the Annual Report to Shareholders for 2011, which is being made available to stockholders along with this Proxy Statement. No additional options will vest within 60 days of the Record Date.
The following number of performance shares were granted: Mr. Covered employees may become eligible for such benefits if they fulfill established requirements upon reaching retirement age. Internationally, we believe there are significant opportunities, particularly in developing markets where annual per capita consumption of fruit and vegetables currently lags behind that of the developed world. The beverage business in Honduras returned to normal after Hurricane Mitch. Also includes an aggregate of 2,250 shares which are held in custodial accounts for Mr. We own or lease, manage and operate a number of manufacturing, processing, packaging, storage and office facilities. For purposes of the change of control agreements: Cause is defined as the Companys termination of the executives employment related to the occurrence of any one or more of the following: 1 conviction of, or pleading guilty or nolo contendere to, a felony; 2 commission of an act of gross misconduct in connection with the performance of duties; 3 demonstration of habitual negligence in the performance of duties; 4 commission of an act of fraud, misappropriation of funds or embezzlement in connection with employment by Dole; 5 death; or 6 Disability.
Cooke and Castle set up business to sell wholesale goods, and in 1858 the pair entered the food business, investing in Hawaii's sugar industry. It concentrates on present; it defines the customers, critical processes and it informs you about the desired level of performance. Approximately 83% of our bananas and pineapples are shipped on our own ships. The Company will request brokers and other nominees who hold shares of common stock in their names to furnish proxy materials to the beneficial owners of such shares. We believe that we can capitalize on this trend by introducing new and innovative products in our fresh produce and value-added lines. We derived the summary historical consolidated financial data as of March 25, 2017 and for the quarters ended March 25, 2017 and March 26, 2016 from the unaudited condensed consolidated financial statements included elsewhere in this prospectus, which, in the opinion of our management, have been prepared on the same basis as the audited financial statements and reflect all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of our results of operations and financial position for such periods.
While Dole products had the leading market share in the United States, Canada, Mexico, and Japan, the company began to gain a significant share of the European market. For example, the price of bunker fuel used in shipping operations, including fuel used in ships that we own or charter, is an important variable component of transportation costs. In addition, the Companys legal department and finance department review all transactions with related parties to ensure that they comply with the preceding requirements. The portion of each Award of Deferred Stock Units that consists of Elective Deferred Stock Units, together with any Dividend Equivalents credited with respect thereto, shall not be subject to any Restriction Period and shall be non-forfeitable at all times. The increase was due to the sale of the Swedish fresh fruit procurement and distribution operation in January 2017.
Principal Operating Units: Dole Latin America; Dole Asia; Dole Europe; Dole Worldwide Packaged Foods; Dole Worldwide Fresh Vegetables; Dole Fresh Flowers; Dole North America Tropical Fresh Fruit; Dole Chile. Murdock, since 2004, and prior to that its Vice President of Investments since 2001; and previously, from 1999, Vice President of Mergers and Acquisitions of Pacific Holding Company, a sole proprietorship of David H. We also expect to grant stock options, restricted stock and other forms of stock-based compensation to our directors, officers and employees and you will experience additional dilution in the future when these equity awards are exercised or vest, as applicable. Murdock Living Trust dated May 28, 1986, as amended the Trust , for which Mr. Our culture is based on an unwavering belief in integrity and fair dealings, treating our clients and each other with dignity and respect. The increase is due to the settlement of the Delaware Court of Chancery lawsuit during fiscal 2015. The introduction of a new product, pineapple juice, was unsuccessful when the company could not promote it.
As a result, you should be aware that market share, ranking and other similar information set forth in this prospectus, and estimates and beliefs based on such data, may not be reliable. It is very important to the Company to have an Audit Committee chair with substantial experience on other public company audit committees. Tesoriero joined Dole as Vice President of Taxes in October 2002. We use herbicides, pesticides and other potentially hazardous substances in the operation of our business. It is further intended that any Restricted Stock Units, Deferred Stock Units, Performance Shares, Performance Units, Incentive Bonuses and Other Stock-Based Awards or Cash Awards issued pursuant to this Plan and any Award Agreement which may or may not constitute deferrals of compensation, depending on the terms of each Award shall avoid any plan failures within the meaning of Code Section 409A a 1. Science is a significant consideration in the Companys business, not only in the initial stages of growing product and ensuring its freshness from packaging to purchase by the end user, but also in the Companys focus on consumer health and well-being.
Immigrants who are authorized to work in the United States also 20 make up a portion of the workforce at our U. We believe that our infrastructure, combined with our market-leading logistics and distribution management capabilities, allows us to grow, source, process and distribute the highest quality and freshest products worldwide. Foreign Corrupt Practices Act and other anti-corruption laws or trade control laws, as well as other laws governing our operations. Neither an Award nor any benefits arising under this Plan shall constitute an employment contract with Dole. Regularly scheduled executive sessions of the directors are held without those directors who are also executive officers of the Company. Providing a distinct advantage to our suppliers as a distribution channel of choice.
Dole products retained the Dole name because of its strong brand image. Abstentions have the same effect as a vote against the proposal. If a Participant incurs a Termination of Employment by reason of a termination by Dole for Cause, any unexercisable Option shall be immediately forfeited and canceled as of the date of such Termination of Employment, and any exercisable Option shall be forfeited and cancelled on the 90 th day following the date of such Termination of Employment if it has not by then been exercised. Pursuant to the 2009 Stock Plan, unless otherwise provided in the applicable award agreement, a with respect to an award that is assumed in a change of control as defined in the 2009 Stock Plan , if the awardees employment is terminated without Cause or the awardee leaves for Good Reason within 24 months of the change of control or b if the award is not assumed in a change of control, in each case, the award will vest and be fully exercisable or be paid or settled in full, as applicable. It is a catalyst that can impel an organization to move toward that dream. We believe our ability to meet the changing needs of both our customers and consumers will be a continued source of growth. Reports may be made anonymously and confidentially: 1.