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Clean Harbors Inc – ‘10-K’ for 12/31/10 – ‘XML.R20’

On:  Tuesday, 3/1/11, at 5:18pm ET   ·   For:  12/31/10   ·   Accession #:  1047469-11-1635   ·   File #:  1-34223

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/01/11  Clean Harbors Inc                 10-K       12/31/10   49:8.8M                                   Toppan Merrill-FA

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.59M 
 2: EX-10.43(A)  Material Contract                                  HTML     56K 
 3: EX-10.54(A)  Material Contract                                  HTML     52K 
 4: EX-10.54(B)  Material Contract                                  HTML     51K 
 5: EX-10.54(C)  Material Contract                                  HTML     55K 
 6: EX-21       Subsidiaries List                                   HTML     55K 
 7: EX-23       Consent of Experts or Counsel                       HTML     16K 
 8: EX-24       Power of Attorney                                   HTML     23K 
 9: EX-31.1     Certification -- §302 - SOA'02                      HTML     22K 
10: EX-31.2     Certification -- §302 - SOA'02                      HTML     22K 
11: EX-32       Certification -- §906 - SOA'02                      HTML     18K 
39: XML         IDEA XML File -- Definitions and References          XML    119K 
45: XML         IDEA XML File -- Filing Summary                      XML     77K 
43: XML.R1      Consolidated Balance Sheets                          XML    572K 
44: XML.R2      Consolidated Balance Sheets (Parenthetical)          XML    117K 
25: XML.R3      Consolidated Statements of Income                    XML    262K 
30: XML.R4      Consolidated Statements of Income (Parenthetical)    XML     63K 
37: XML.R5      Consolidated Statements of Cash Flows                XML    738K 
36: XML.R6      Consolidated Statements of Stockholders' Equity      XML   1.51M 
48: XML.R7      Consolidated Statements of Stockholders' Equity      XML     86K 
                (Parenthetical)                                                  
21: XML.R8      Operations                                           XML     41K 
35: XML.R9      Significant Accounting Policies                      XML    145K 
20: XML.R10     Business Combinations                                XML     61K 
19: XML.R11     Fair Value Measurements                              XML     63K 
24: XML.R12     Goodwill and Other Intangible Assets                 XML     74K 
41: XML.R13     Accrued Expenses                                     XML     48K 
26: XML.R14     Closure and Post-Closure Liabilities                 XML     74K 
27: XML.R15     Remedial Liabilities                                 XML     97K 
33: XML.R16     Financing Arrangements                               XML     60K 
49: XML.R17     Held for Sale                                        XML     48K 
23: XML.R18     Income Taxes                                         XML    133K 
18: XML.R19     Earnings Per Share                                   XML     68K 
29: XML.R20     Stock-Based Compensation and Employee                XML     90K 
                Participation Plan                                               
40: XML.R21     Employee Benefit Plans                               XML    138K 
22: XML.R22     Commitments and Contingencies                        XML     91K 
38: XML.R23     Segment Reporting                                    XML    162K 
28: XML.R24     Quarterly Data (Unaudited)                           XML     77K 
47: XML.R25     Guarantor and Non-Guarantor Subsidiaries             XML    386K 
42: XML.R26     Pending Acquisition                                  XML     40K 
31: XML.R27     Schedule Ii Valuation and Qualifying Accounts        XML     66K 
34: XML.R28     Document and Entity Information                      XML    205K 
46: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS   1.15M 
12: EX-101.INS  XBRL Instance -- clh-20101231                        XML   1.47M 
14: EX-101.CAL  XBRL Calculations -- clh-20101231_cal                XML    202K 
17: EX-101.DEF  XBRL Definitions -- clh-20101231_def                 XML    284K 
15: EX-101.LAB  XBRL Labels -- clh-20101231_lab                      XML    876K 
16: EX-101.PRE  XBRL Presentations -- clh-20101231_pre               XML    413K 
13: EX-101.SCH  XBRL Schema -- clh-20101231                          XSD     92K 
32: ZIP         XBRL Zipped Folder -- 0001047469-11-001635-xbrl      Zip    150K 


‘XML.R20’   —   Stock-Based Compensation and Employee Participation Plan


This Financial Report is an XBRL XML File.


                                                                                                                                                                                
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<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <p style="FONT-FAMILY: times"><font size="2"><b>(13) STOCK-BASED COMPENSATION AND EMPLOYEE PARTICIPATION PLAN </b></font></p> <p style="FONT-FAMILY: times"><font size="2">        In 1992 the Company adopted an equity incentive plan (the "1992 Plan"), which provided for a variety of incentive awards, including stock options, and in 2000, the Company adopted a stock incentive plan (the "2000 Plan"), which provided for awards in the form of incentive stock options, non-qualified stock options, restricted stock awards, performance stock awards and common stock awards. The 1992 Plan expired on March 15, 2002, but there were outstanding on December 31, 2010 options granted under the 1992 Plan for an aggregate of 6,000 shares, which will remain in effect until such options are either exercised or expire in accordance with their terms. The 2000 Plan expired on April 15, 2010, but there were outstanding on December 31, 2010 options granted under the 2000 Plan for an aggregate of 104,574 shares which will remain in effect until such options are either exercised or expire in accordance with their terms. </font></p> <p style="FONT-FAMILY: times"><font size="2">        In 2010, the Company adopted an equity incentive plan ("the 2010 Plan"), which provides for awards of up to 3,000,000 shares of Common Stock (subject to certain anti-dilution adjustments) in the form of (i) stock options, (ii) stock appreciation rights, (iii) restricted stock, (iv) restricted stock units, and (v) certain other stock-based awards. </font></p> <p style="FONT-FAMILY: times"><font size="2">        As of December 31, 2010 and 2009, the Company had the following types of stock-based compensation awards outstanding under the 1992 Plan, the 2000 Plan and the 2010 Plan: stock options, restricted stock awards and performance stock awards. The stock options generally become exercisable up to five years from the date of grant, subject to certain employment requirements, and terminate ten years from the date of grant. The restricted stock awards generally vest over five years subject to continued employment. The performance stock awards vest depending on the satisfaction of certain performance criteria as described below. </font></p> <p style="FONT-FAMILY: times"><font size="2">        Total stock-based compensation cost charged to income from operations for the years ended December 31, 2010, 2009 and 2008 was $7.2 million, $1.0 million and $3.6 million, respectively. The total income tax benefit recognized in the consolidated statements of income from stock-based compensation was $2.7 million, $0.4 million and $1.3 million for the years ended December 31, 2010, 2009 and 2008, respectively. </font></p> <p style="FONT-FAMILY: times"><font size="2"><b><i>Stock Option Awards</i></b></font></p> <p style="FONT-FAMILY: times"><font size="2">        The Company uses the Black-Scholes option pricing model to value the compensation expense associated with its stock option awards based on the assumptions in the following table. In addition, the Company estimates forfeitures when recognizing compensation expense, and adjusts its estimate of forfeitures over the requisite service period based on the extent to which actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures are recognized through a cumulative catch-up adjustment in the period of change and also impact the amount of compensation expense to be recognized in future periods. The expected forfeiture rates used to calculate compensation expense were 5% for non-executive employees and 3% for executives and directors. </font></p> <p style="FONT-FAMILY: times"><font size="2">        The Company ceased issuing stock option awards in May 2008 and as of December 31, 2010, all remaining options then outstanding had vested. The following weighted-average assumptions were used in calculating the grant date fair value of stock option awards issued during the year ended December 31, 2008: </font></p> <div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 20%; WIDTH: 60%; PADDING-TOP: 0pt; POSITION: relative"> <p style="FONT-FAMILY: times"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p> <!-- User-specified TAGGED TABLE --> <div align="center"> <table cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET --> <td style="FONT-FAMILY: times" align="left"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="77"></td><!-- TABLE COLUMN WIDTHS END --></tr> <tr style="HEIGHT: 0px" valign="bottom"> <th style="FONT-FAMILY: times" align="left"><font size="2"> </font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center"><font size="1"><b>2008 </b></font></th></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"><font size="2">Expected volatility</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">40.81%</font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"><font size="2">Risk-free interest rate</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">2.31%-3.10%</font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"><font size="2">Expected life (years)</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">3.3</font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"><font size="2">Dividend yield</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">none</font></td></tr></table></div> <!-- end of user-specified TAGGED TABLE --></div> <p style="FONT-FAMILY: times"><font size="2">        Expected volatility was based on the historical volatility of the Company's common stock over the period commensurate with the expected life of the stock option awards. The risk-free rate for the stock options was the average yield rate of the 3- and 5-year term on the U.S. Treasury Constant Maturities at the inception of each quarterly stock option period. The expected life of the stock options awards was based on using the simplified method as described in Staff Accounting Bulletin No. 110. Due to the Company changing the awards granted beginning in 2006 from stock options to restricted stock awards and performance stock awards, the historical data did not provide a reasonable basis upon which to estimate expected term and therefore the Company continued to calculate the expected life of the outstanding stock options by using the simplified method. The dividend yield of zero is based on the fact that the Company has never paid cash dividends on its common stock and has no present intention to pay such cash dividends in the future. </font></p> <p style="FONT-FAMILY: times"><font size="2">        The following table summarizes activity under the Plans relating to stock options: </font></p> <div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 73%; PADDING-TOP: 0pt; POSITION: relative"> <p style="FONT-FAMILY: times"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"110%" --></font></p> <!-- User-specified TAGGED TABLE --> <div align="center"> <table cellspacing="0" cellpadding="0" width="110%" border="0"> <tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET --> <td style="FONT-FAMILY: times" align="left" width="10"></td> <td style="FONT-FAMILY: times" align="left"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="7"></td> <td style="FONT-FAMILY: times" width="51"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="7"></td> <td style="FONT-FAMILY: times" width="82"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="7"></td> <td style="FONT-FAMILY: times" width="83"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="7"></td> <td style="FONT-FAMILY: times" width="69"></td> <td style="FONT-FAMILY: times" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr> <tr style="HEIGHT: 0px" valign="bottom"> <th style="FONT-FAMILY: times" nowrap="nowrap" align="left" colspan="2"> <div style="MARGIN-BOTTOM: 0pt; WIDTH: 50pt; BORDER-BOTTOM: #000000 1pt solid"><font size="1"><b>Stock Options <!-- COMMAND=ADD_SCROPPEDRULE,50pt --></b></font></div></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>Number of<br /> Shares </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>Weighted Average<br /> Exercise Price </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>Weighted Average<br /> Remaining<br /> Contractual Term<br /> (in years) </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>Aggregate<br /> Intrinsic Value<br /> as of 12/31/10<br /> (in thousands) </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> <p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"><font size="2">Outstanding at January 1, 2010</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">187,274</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">21.68</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times"> <p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"><font size="2">Expired</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(1,000</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">2.50</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times"> <p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"><font size="2">Forfeited</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(5,000</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">12.98</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times"> <p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"><font size="2">Exercised</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(70,700</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">12.17</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="FONT-FAMILY: times" valign="bottom" align="right"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> <p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"><font size="2">Outstanding and vested at December 31, 2010</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">110,574</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">28.33</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">2.70</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">6,165</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> <p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"><font size="2">Exercisable at December 31, 2010</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">110,574</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">28.33</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">2.70</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">6,165</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr></table></div> <!-- end of user-specified TAGGED TABLE --></div> <p style="FONT-FAMILY: times"><font size="2">        The weighted-average grant date fair values of option grants for the year ended December 31, 2008 was $20.78. As of December 31, 2010, there was no total unrecognized compensation cost related to stock option awards under the Company's stock incentive plans. The total intrinsic value of options exercised during 2010, 2009 and 2008 was $2.8 million, $1.2 million, and $9.6 million, respectively. </font></p> <p style="FONT-FAMILY: times"><font size="2"><b><i>Restricted Stock Awards</i></b></font></p> <p style="FONT-FAMILY: times"><font size="2">        The following information relates to restricted stock awards that have been granted to employees and directors under the Company's stock incentive plans. The restricted stock awards are not transferable until vested and the restrictions lapse upon the achievement of continued employment or service as a director over a five-year time period. </font></p> <p style="FONT-FAMILY: times"><font size="2">        The fair value of each restricted stock grant is based on the closing price of the Company's stock on the date of grant and is amortized to expense over its vesting period. The expected forfeiture rates used to calculated compensation expense were 5% for non-executive employees and 3% for executives and directors. </font></p> <p style="FONT-FAMILY: times"><font size="2">        The following table summarizes information about restricted stock awards for the year ended December 31, 2010: </font></p> <div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 20%; WIDTH: 60%; PADDING-TOP: 0pt; POSITION: relative"> <p style="FONT-FAMILY: times"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p> <!-- User-specified TAGGED TABLE --> <div align="center"> <table cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET --> <td style="FONT-FAMILY: times" align="left"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="7"></td> <td style="FONT-FAMILY: times" width="51"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="7"></td> <td style="FONT-FAMILY: times" width="82"></td> <td style="FONT-FAMILY: times" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr> <tr style="HEIGHT: 0px" valign="bottom"> <th style="FONT-FAMILY: times" nowrap="nowrap" align="left"> <div style="MARGIN-BOTTOM: 0pt; WIDTH: 58pt; BORDER-BOTTOM: #000000 1pt solid"><font size="1"><b>Restricted Stock <!-- COMMAND=ADD_SCROPPEDRULE,58pt --></b></font></div></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>Number of<br /> Shares </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>Weighted Average<br /> Grant-Date<br /> Fair Value</b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"><font size="2">Unvested at January 1, 2010</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">52,157</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">51.35</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"><font size="2">Granted</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">55,425</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">59.27</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"><font size="2">Vested</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(16,273</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">44.19</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"><font size="2">Forfeited</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(10,500</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">52.76</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"><font size="2">Unvested at December 31, 2010</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">80,809</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">58.06</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr></table></div> <!-- end of user-specified TAGGED TABLE --></div> <p style="FONT-FAMILY: times"><font size="2">        As of December 31, 2010, there was $3.3 million of total unrecognized compensation cost arising from restricted stock awards under the Company's stock incentive plans. This cost is expected to be recognized over a weighted-average period of 4.0 years. The total fair value of restricted stock vested during 2010, 2009 and 2008 was $1.4 million, $0.7 million and $0.6 million, respectively. </font></p> <p style="FONT-FAMILY: times"><font size="2"><b><i>Performance Stock Awards</i></b></font></p> <p style="FONT-FAMILY: times"><font size="2">        The following information relates to performance stock awards that have been granted to employees under the Company's stock incentive plans. Generally, performance stock awards are subject to performance criteria such as predetermined revenue and EBITDA margin for a specified period of time. The vesting of the performance stock awards is based on achieving such targets and also includes continued service conditions.</font></p> <p style="FONT-FAMILY: times"><font size="2">        The fair value of each performance stock award is based on the closing price of the Company's stock on the date of grant and is amortized to expense over the service period if achievement of performance measures is then considered probable. The expected forfeiture rates used to calculated compensation expense were 5% for employees and 3% for executives and directors. </font></p> <p style="FONT-FAMILY: times"><font size="2">        For the performance stock awards granted in 2010, the Compensation Committee of the Company's Board of Directors established two-year performance targets which could potentially be achieved in either 2010 or 2011. Based on the Company's performance during 2010, the Committee determined that those performance targets had been achieved and the Company therefore recognized $2.7 million of expense through sales, general and administrative expenses for the year ended December 31, 2010 with respect to the performance stock awards granted in 2010. </font></p> <p style="FONT-FAMILY: times"><font size="2">        For the performance awards granted in 2009, the Compensation Committee established two-year performance targets which could potentially be achieved in either 2009 or 2010. Prior to the second quarter of 2010, the Company's management believed that it was not then probable that the performance targets would be achieved in either 2009 or 2010 and the Company therefore recorded no compensation expense during 2009. Based on the Company's performance during 2010, the Compensation Committee determined that the performance targets for the 2009 performance awards had been achieved during 2010, and the Company therefore recognized $1.7 million of expense through sales, general and administrative expenses for the year ended December 31, 2010 with respect to the performance stock awards granted in 2009. </font></p> <p style="FONT-FAMILY: times"><font size="2">        The following table summarizes information about performance stock awards for the year ended December 31, 2010: </font></p> <div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 20%; WIDTH: 60%; PADDING-TOP: 0pt; POSITION: relative"> <p style="FONT-FAMILY: times"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p> <!-- User-specified TAGGED TABLE --> <div align="center"> <table cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET --> <td style="FONT-FAMILY: times" align="left"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="7"></td> <td style="FONT-FAMILY: times" width="51"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="7"></td> <td style="FONT-FAMILY: times" width="82"></td> <td style="FONT-FAMILY: times" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr> <tr style="HEIGHT: 0px" valign="bottom"> <th style="FONT-FAMILY: times" nowrap="nowrap" align="left"> <div style="MARGIN-BOTTOM: 0pt; WIDTH: 66pt; BORDER-BOTTOM: #000000 1pt solid"><font size="1"><b>Performance Stock <!-- COMMAND=ADD_SCROPPEDRULE,66pt --></b></font></div></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>Number of<br /> Shares </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>Weighted Average<br /> Grant-Date<br /> Fair Value</b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"><font size="2">Unvested at January 1, 2010</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">80,807</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">46.88</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"><font size="2">Granted</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">88,421</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">55.23</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"><font size="2">Vested</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(6,662</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">51.85</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"><font size="2">Forfeited</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(8,811</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">51.45</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"><font size="2">Unvested at December 31, 2010</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">153,755</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">51.20</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr></table></div> <!-- end of user-specified TAGGED TABLE --></div> <p style="FONT-FAMILY: times"><font size="2">        As of December 31, 2010, there was $2.7 million of total unrecognized compensation cost arising from non-vested compensation related to performance stock awards probable of vesting under the Company's stock incentive plans that will be recognized over the next 1.5 years. The total fair value of performance awards vested during 2010, 2009 and 2008 was $0.6 million, $1.1 million and $0.8 million, respectively. </font></p> <p style="FONT-FAMILY: times"><font size="2"><b><i>Employee Stock Purchase Plan</i></b></font></p> <p style="FONT-FAMILY: times"><font size="2">        In May of 1995, the Company's stockholders approved an Employee Stock Purchase Plan (the "ESPP"), which is a qualified employee stock purchase plan under Section 423 of the Internal Revenue Code of 1986, as amended, through which employees of the Company are given the opportunity to purchase shares of common stock. Under the ESPP, a total of one million shares of common stock were originally reserved for offering to employees, in quarterly offerings of 50,000 shares each plus any shares not issued in any previous quarter, commencing on July 1, 1995 and on the first day of each quarter thereafter. In 2005, the Company's stockholders approved an increase of 500,000 in the maximum number of shares which can be issued under the ESPP. As of December 31, 2010, the Company had reserved 379,918 shares of common stock available for purchase under the ESPP. Employees who elect to participate in an offering may utilize up to 10% of their payroll for the purchase of common stock at 85% of the closing price of the stock on the first day of such quarterly offering or, if lower, 85% of the closing price on the last day of the offering. Due to the discount of 15% offered to employees for purchase of shares under the ESPP, the Company considers such plan as compensatory. The weighted average per share fair values of the purchase rights granted under the ESPP during the years ended December 31, 2010 and 2009 was $10.77 and $9.82, respectively. </font></p> <p style="FONT-FAMILY: times"><font size="2"><b><i>Common Stock Awards</i></b></font></p> <p style="FONT-FAMILY: times"><font size="2">        In the year ended December 31, 2010, the Company issued under the Company's 2000 Plan and 2010 Plan 1,750 shares of common stock at a weighted average grant-date fair value of $65.28 which vested immediately. In the year ended December 31, 2009, the Company issued under the Company's 2000 Plan 2,400 shares of common stock at a weighted average grant-date fair value of $52.66 which vested immediately. </font></p> <p style="FONT-FAMILY: times"><font size="2"><b><i>Employee Participation Plan</i></b></font></p> <p style="FONT-FAMILY: times"><font size="2">        Prior to the Company's acquisition of Eveready on July 31, 2009, Eveready's predecessor had established an employee participation plan (the "Participation Plan") under which employees were offered an opportunity to purchase at the then market price up to a specified number of the predecessor's units ("Purchased Units") from the predecessor's treasury. For each employee who elected to participate (a "Participant"), Eveready's predecessor matched the Purchased Units with an equal number of units ("Matching Units") purchased on the open market and deposited the Matching Units into a trust (the "Trust"), with 20% of the Matching Units vesting each December 31 from 2007 through 2011 provided the Participant remained employed by Eveready's predecessor at the vesting date. Participants had the option to finance the Purchased Units with a loan from Bank of Montreal (a "BMO loan"), which carries an annual interest rate of LIBOR plus 0.5% for a term of 10 years with payment commencing in year six, secured by both the Purchased and the Matching Units. Upon the conversion of Eveready's predecessor into Eveready effective December 31, 2008, the Purchased Units held by Participants and Matching Units held by the Trust were converted (on the same ratio as other outstanding units) into Eveready common shares. </font></p> <p style="FONT-FAMILY: times"><font size="2">        When the Company acquired Eveready on July 31, 2009, the Eveready common shares held both by Participants and by the Trust were exchanged for cash and shares of the Company's common stock on the same terms as other outstanding Eveready common shares. The Matching Units assigned to employees that were active at the acquisition date were exchanged for 23 thousand shares of the Company's common stock, and such common shares continued to be held in the Trust and vest according to the original vesting schedule. The Company has also agreed with its employees who were Participants in the Participation Plan to pay a cash bonus (a "Shortfall Bonus") to each such employee who remains employed by the Company on December 31, 2011 (or whose employment was involuntarily terminated by the Company in connection with the acquisition) to the extent (if any) that on December 31, 2011 there is a shortfall between (i) the amount which such employee originally paid for Purchased Units and (ii) the aggregate of (x) the market value on December 31, 2011 (but not less than $48.00 per Company share) of the Company's shares derived from the Purchased Units and Matching Units held by such employee and (y) the cash portion of the acquisition consideration received for such employee's Eveready shares as described above. To the extent that any such employee has an outstanding BMO loan balance on December 31, 2011, the amount of any such Shortfall Bonus (net of withholding taxes) shall first be applied against such outstanding loan balance, with the remainder (if any) of such net bonus paid to the employee. Based on the market value of $84.08 per share of the Company's common stock on December 31, 2010, the maximum amount of such Shortfall Bonus was $3.4 million on December 31, 2010. </font></p> <p style="FONT-FAMILY: times"><font size="2">        The Company classifies the Participation Plan as an equity award and compensation expense of $0.6 million and $0.3 million was recognized for the years ended December 31, 2010 and 2009, respectively. The potential Shortfall Bonus is classified as a liability award and measured based on the award's fair value at each reporting date until the date of settlement. The fair value of the Shortfall Bonus is determined to be the difference between (i) the Participants' original investment in the Participation Plan and (ii) the aggregate of the market value (but not less than $48.00 per Company share) of the Company's shares derived from both Purchased Units and Matching Units and the cash portion of the acquisition consideration received, adjusted for the portion of requisite service that has been rendered as of the measurement date. Compensation cost for the period is based on the change or a portion of the change, depending on the percentage of the requisite service that has been rendered at the reporting date, in the fair value of the potential Shortfall Bonus. Compensation cost relating to the potential Shortfall Bonus for the year ended December 31, 2010 and 2009 was $0.1 million and $0.3 million, respectively. </font></p> <p style="FONT-FAMILY: times"><font size="2">        On December 31, 2010, 7,537 shares vested and during 2010, 1,796 shares were forfeited and continued to be held by the Trust. As of December 31, 2010, there was $0.2 million of total unrecognized compensation cost arising from the remaining unvested shares in the Trust. This cost is expected to be recognized over a weighted average period of 1.0 year. </font></p></td></tr></table>
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<NonNumericTextHeader> (13) STOCK-BASED COMPENSATION AND EMPLOYEE PARTICIPATION PLAN         In 1992 the Company adopted an equity incentive </NonNumericTextHeader>
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7 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/21/24  Clean Harbors Inc.                10-K       12/31/23  134:15M
 3/01/23  Clean Harbors Inc.                10-K       12/31/22  127:16M
 2/23/22  Clean Harbors Inc.                10-K       12/31/21  128:15M
 2/24/21  Clean Harbors Inc.                10-K       12/31/20  122:14M
 2/09/12  SEC                               UPLOAD9/21/17    1:33K  Clean Harbors Inc.
12/22/11  SEC                               UPLOAD9/21/17    1:35K  Clean Harbors Inc.
12/02/11  SEC                               UPLOAD9/21/17    1:44K  Clean Harbors Inc.
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Filing Submission 0001047469-11-001635   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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