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PSYCHIATRIC SOLUTIONS,
INC.
2009 LONG-TERM EQUITY
COMPENSATION PLAN
The 2009 Long-Term
Equity Compensation Plan (the “Plan”) of Psychiatric
Solutions, Inc. (the “Company”) will be administered by
the Compensation Committee of the Board of Directors (the
“Committee”). The Company’s executive officers
and certain key employees (together, the “Eligible
Employees”) will be eligible to participate in the
Plan.
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(a)
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If
the Company’s adjusted EPS for the current fiscal year (the
“Current Year EPS”) does not exceed the Company’s
adjusted EPS for the prior fiscal year (the “Prior Year
EPS”) by at least 14%, no equity awards will be
granted.
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(b)
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If
the Company’s Current Year EPS exceeds the Company’s
Prior Year EPS by not less than 14%, and not more than 20%, the
Company will grant stock options to the Eligible Employees to
purchase that number of shares of Common Stock which is equal to
not less than 1%, and not more than 2%, of the Company’s
aggregate total of issued and outstanding shares of Common Stock as
of the grant date, the exact number to be determined in the sole
discretion of the Committee.
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