Document:

Rayonier

Exhibit 10.2

Rayonier

2010 Performance Share Award Program

The number of shares to which a participant could become entitled under the 2010 Performance Share Award Program (the "Program") can range from 30% to a maximum of 200% of the Target Award depending on Rayonier's total shareholder return ("TSR") performance for the three-year Performance Period of January 1, 2010 through December 31, 2012, as compared to the TSR performance of the designated peer group companies for the same period.  There will be no payout if results fall below the 30th percentile performance threshold.

	TSR is defined as stock price appreciation plus the reinvestment of dividends on a quarterly basis. For purposes of performance measurement, TSR shall be the final reported figure as may be adjusted by the Committee for unusual items to avoid distortion in the operation of the Program.

	TSR over the 3-year period will be calculated by measuring the value of a hypothetical $100 investment in Rayonier shares as compared to an equal investment in each of the peer group companies. 

	TSR calculations of stock price appreciation will be the average of the closing prices of Rayonier common shares and that of each of the peer group companies for the 20 trading days preceding the starting and ending dates of the Performance Period.  

The final number of shares in an Award will be determined as follows:

	The TSR performance of Rayonier and the peer group companies will be calculated and Rayonier's relative performance, on a percentile basis, is determined.
	The payout percentage of Target Award based on Rayonier's percentile TSR performance against the peer group companies will be calculated per the following table:

	
Percentile Rank
	
Award (Expressed As Percent of Target Award)

	
80th and Above
	
200%

	
61st -79th
	
100%, plus 5.0% for each incremental percentile position over the 60th percentile

	
60th
	
100%

	
31st - 59th
	
30%, plus 2.33% for each incremental percentile position over the 30th percentile

	
30th
	
30%

	
Below 30th
	
0%

	The payout percentage may not exceed 100% of target awards if Rayonier's TSR for the Performance Period is negative.

	Payment, if any, is to be made in Rayonier Common Shares, and may be offset, to the extent allowed under applicable regulations, by the number of shares equal in value to the amount needed to cover associated tax liabilities.

	Dividend equivalents and interest will be paid in cash on the number of Rayonier Common Shares earned under the Program. 

	Dividends equivalents and interest will be calculated by taking the dividends paid on one share of Rayonier Common Stock during the performance period times the number of shares awarded at the end of the period. Interest on such dividends will be earned at a rate equal to the prime rate as reported in the Wall Street Journal, adjusted and compounded annually, from the date such cash dividends were paid by the Company. 

	Awards will be valued on January 14 following the end of the performance period. If January 14 falls on a non-trading day, awards will be valued on the next trading day. Awards, including dividends and interest, will be distributed to participants as soon as practicable following the valuation date. 

	Target awards will be prorated in cases of retirement, death, or disability in accordance with Plan provisions. 

2010 Performance Share Award Program

(January 1, 2010 - December 31, 2012)

Peer Group Companies

Buckeye Technologies

Cousins Properties

Deltic Timber

Domtar Corporation

Forestar

International Paper

Mead-Westvaco

Neenah Paper

Potlatch Corporation

Plum Creek 

Sappi

St. Joe Company

Tembec

TimberWest

Weyerhaeuser

 

 

 

 

Administration

December 2009Virage Logic Corporation 2010 Executive MBO Plan

 Exhibit 10.22 
 Virage Logic Corporation 
 FY2010 Executive MBO Plan

 1. Purpose 
 The Virage Logic Corporation FY2010 Executive MBO Plan (the “Plan”) is intended to: (i) enhance shareholder value by promoting direct linkages between key executive contributions and company performance; (ii) support
achievement of the business objectives of Virage Logic Corporation and its subsidiaries (the “Company”); and (iii) promote retention of key executives. 
 2. Effective Date 
 This Plan is effective for the Company’s 2010
fiscal year beginning October 1, 2009, through September 30, 2010 (the “Fiscal Year”). This Plan is limited in time and will expire automatically on September 30, 2010 (“Expiration Date”). This Plan also supersedes
all prior bonus or incentive plans, whether with the Company or any subsidiary or affiliate thereof, or any written or verbal representations regarding the subject matter of this Plan. 
 3. Administration 
  

	 	a)	The Plan shall be administered by the Compensation Committee of the Board of Directors of the Company (the “Administrator”). The Administrator shall have all
powers and discretion necessary or appropriate to administer the Plan and to control its operation, including, but not limited to, the power to (a) determine which executives are eligible to participate in the plan, (b) prescribe the terms
and conditions of Payouts (as further defined in Section 5 below, the “Payouts”), (c) interpret the Plan and the Payouts, (d) adopt rules for the administration, interpretation and application of the Plan as are consistent
therewith, and (e) interpret, amend or revoke any such rules. The Chief Financial Officer, Director of Human Resources and the Worldwide Corporate Controller will be responsible for implementing the Plan. 

  

	 	b)	All determinations and decisions made by the Administrator, the Board, and any delegate of the Administrator pursuant to the provisions of the Plan shall be final,
conclusive, and binding on all persons, and shall be given the maximum deference permitted by law. 

  

	 	c)	The Company shall provide a summary description of the Plan to each Participant (as defined in Section 4). Such officers as the Administrator may designate shall
provide the Administrator with such interim reports on progress toward achievement of MBOs by Participants as the Administrator may request from time to time. 

 4. Eligibility 
 All executives directly reporting to the CEO and certain
other executives may be eligible to participate in this Plan, provided he or she is designated by the Administrator as a participant and as to whom the Administrator has not, in its sole discretion, withdrawn such designation (a
“Participant”) and he or she meets all the following conditions: 
  

	 	a)	is employed by the Company as a full-time regular employee at the time of payout 

  

	 	b)	is not concurrently participating in a sales incentive or commission plan, or in any other profit sharing or bonus plan provided by the Company without the express
approval of the Administrator; 

  

	 	c)	an executive who begins employment or otherwise becomes eligible for participation will do so on a pro-rated basis, based on complete weeks. 

 

	 	d)	has not transferred to a position with the Company that is not eligible for participation in the Plan (as determined in the Administrator’s sole discretion)

	 	e)	is not subject to a performance improvement plan or other disciplinary actions (as evidenced by the Company’s personnel records relating to such person)

 5. Plan Metrics 
  

	 	a)	Payout under this Plan for each Participant will be calculated based upon the following formula: (S (goal weighting * goal
achievement)) * On Target Bonus); provided, however, that no amounts shall be paid out under this Plan unless the conditions set forth in section 5 (f) are satisfied 

  

	 	b)	The Goal Weighting is the percentage weight assigned to each individual goal with the sum of the goal weightings equal to 100%. 

  

	 	c)	Goal Achievement is a percentage of goal achievement as graded by the CEO for all Participants except the CEO, whose grading will be done by the Administrator.

  

	 	d)	Goals may not exceed 100% achievement for linear goals. Some goals are binary, meaning that their achievement is either 100% or 0%. These binary goals may not exceed
100%. 

  

	 	e)	On Target Bonus is the number of restricted stock units (“RSUs”) assigned to each executive calculated as the monetary value of the RSUs as a
percentage of the executive’s annual base salary. There is a target bonus for each participant for the year; each quarter’s target bonus is 25% of the individual’s target bonus for the year (or such other weighting as the
Administrator may determine). 

  

	 	f)	Payouts of bonuses earned upon achievement of MBOs are contingent upon the Company achieving at least 90% of the annual revenue level set forth in the Company’s
annual operating plan as approved by the Company’s Board of Directors (AOP) and at least 50% of the annual non-GAAP earnings per share set forth in the AOP (together referred to as the “Financial Hurdles”). Only 75% of the MBO bonus
earned by Participants for the first and second quarters shall be paid at the time earned. The remaining 25% of each such bonus shall be held back by the Company pending determination of whether the Financial Hurdles are achieved at the conclusion
of the fourth quarter. In addition, with respect to the third fiscal quarter, the Administrator shall have the authority to withhold all or any portion of any MBO bonus earned for such quarter if, in the Administrator’s judgment, it appears
that the Company may fail to achieve one or both of the Financial Hurdles. If the Company fails to achieve either of the Financial Hurdles, then all amounts held back from prior quarter amounts shall be forfeited and not earned or paid. Any amounts
actually paid (and not held back) for such prior quarters shall not be recoverable from the Participant if the Company fails to achieve the Financial Hurdles 

 6. Timing and Form of Payment of Payouts 
 Subject to the terms and
conditions of this Plan, Payouts shall be made on a quarterly basis within 30 days after the public announcement of the Company’s quarterly financial results. Payouts shall be paid in the form of RSUs with immediate vesting. 
 7. Plan Changes; No Entitlement 
 The Compensation Committee of the Board may at any time amend, suspend, or terminate this Plan, including it may amend the Plan so as to ensure that no amount paid or to be paid hereunder shall be subject to the provision of Internal
Revenue Code Section 409A(a)(1)(B). Nothing in this Plan is intended to create an entitlement to any employee for any incentive payment hereunder. 
 8. General Provisions 
  

	 	a)	Tax Withholding. The Company shall withhold all applicable taxes from any Payout, including any federal, state and local taxes. RSUs shall be net settled, meaning that
the Company shall pay any federal, state and local taxes incurred by the vesting of the RSUs and withhold RSU shares from the executive in settlement of the taxes. 

	 	b)	No Effect on Employment or Service. Nothing in the Plan shall interfere with or limit in any way the right of the Company to terminate any Participant’s employment
or service at any time, with or without cause. Employment with the Company is on an at-will basis only. The Company expressly reserves the right, which may be exercised at any time, to terminate any individual’s employment with or without cause
without regard to the effect it might have upon him or her as a Participant under this Plan. 

  

	 	c)	Non-transferability of Awards. No award granted under the Plan may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will
or by the laws of descent and distribution. All rights with respect to an award granted to a Participant shall be available during his or her lifetime only to the Participant. 

  

	 	d)	Severability. In the event any provision of the Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts
of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 

  

	 	e)	Governing Law. The Plan and all awards shall be construed in accordance with and governed by the laws of the State of California, but without regard to its conflict of
law provisions. 

  

	 	f)	Entire Agreement. This Plan, and any resolutions of the Compensation Committee or the Board amending the Plan, is the entire understanding between the Company and the
executive regarding the subject matter of this Plan and supersedes all prior bonus or commission incentive plans, or employment contracts whether with any subsidiary, or affiliate thereof (including Virage Logic Corporation) or any written or oral
representations regarding the subject matter of this Plan. Participation in this Plan during the Fiscal Year will not convey any entitlement to participate in this or future plans or to the same or similar bonus benefits. Payments under this Plan
are an extraordinary item of compensation that is outside the normal or expected compensation for the purpose of calculating any extra benefits, termination, severance, redundancy, end-of-service premiums, bonuses, long-service awards, overtime
premiums, pension or retirement benefits or other similar payment.

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