Exhibit
10.25
PLUM CREEK
STOCK INCENTIVE PLAN AWARD AGREEMENT
AGREEMENT made
as of the 10th day of February 2009, between Plum Creek Timber
Company, Inc., a Delaware corporation (the “Company”),
and [Name of Director] , a member of the board of directors
of the Company (“Director”). Terms used herein, unless
otherwise defined herein, shall have the meanings ascribed to them
in the Amended and Restated Plum Creek Timber Company, Inc. Stock
Incentive Plan, as the same may be amended from time to time (as
amended, the “Plan”). To carry out the purposes of the
Plan by affording Director the opportunity to acquire shares of
common stock, par value $.01 per share, of the Company, and to
receive certain other benefits under the Plan, and in consideration
of the mutual agreements and other matters set forth herein and in
the Plan, the Company and Director hereby agree as
follows:
A.
Stock Award .
1.
Grant of Stock . The Company hereby grants to Director a
total of two-thousand (2,000) shares of common stock, par
value $.01 (the “Stock”), on the terms and conditions
set forth herein and in Section 6 of the Plan, which Plan is
incorporated herein by reference as a part of this
Agreement.
2.
Transfer of Stock . Director may not sell, hypothecate,
assign, transfer or otherwise dispose of the Stock to any other
person during the period of time beginning on the date hereof and
ending on August 10, 2009 (the “ Restricted
Period ”), except for transfers effected by will or the
laws of descent and distribution, or pursuant to a “qualified
domestic relations order” as defined by the Code. Any
attempted transfer, assignment, pledge, hypothecation or other
disposition of any shares of the Stock during the Restricted
Period, or any levy of any attachment or similar process upon any
shares of the Stock during the Restricted Period, shall be null and
void. Upon and following the completion of the Restricted Period,
the Stock shall be fully transferable except as provided below in
Section B.2.
3.
Termination of Service . Except as provided in
Section 9 of the Plan with
