Document:

Second Amended and Restated Employment Agreement

 Exhibit 10.2 
 SECOND AMENDED AND RESTATED 
 EMPLOYMENT AGREEMENT 

THIS SECOND AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of February 1,
2010 between Inergy GP, LLC, a Delaware limited liability company (the “Company”), and Phillip L. Elbert, an individual (“Employee”). 
 The Company and Employee hereby agree as follows: 
 1. Employment. Employee
is being employed by the Company as the Company’s Chief Operating Officer and President – Propane Operations upon and subject to the terms and conditions of this Agreement. During the term of his employment under this Agreement, Employee
shall report to the Company’s President and Chief Executive Officer (currently John J. Sherman) or to such other person or persons as the Company may designate from time to time. Employee will begin his employment with the Company under this
Agreement on February 1, 2010. 
 2. Duties. During the term of his employment under this Agreement, Employee will
perform his duties hereunder at such time or times as the Company may reasonably request. Employee’s duties may be varied by the Company from time to time without violating the terms of this Agreement and shall include: (i) devoting his
best efforts and his entire business time to further properly the interests of the Company to the satisfaction of the Company, (ii) being subject to the Company’s direction and control at all times with respect to his activities on behalf
of the Company, (iii) complying with all rules, orders, regulations, policies, practices and decisions of the Company, (iv) truthfully and accurately maintaining and preserving all records and making all reports as the Company may require,
and (v) fully accounting for all monies and other property of the Company of which he may from time to time have custody and delivering the same to the Company whenever and however directed to do so. 
 3. Compensation. For all services rendered by Employee to the Company, the Company shall pay Employee a salary (the
“Salary”) at the annual rate of Two Hundred Seventy Five Thousand Dollars ($275,000), payable in arrears in accordance with the Company’s general payroll practices. All payments and benefits provided pursuant to this Agreement
are subject to income tax withholding and other applicable tax and withholding requirements. 
 4. Expenses. The Company
shall reimburse Employee for all ordinary and necessary out-of-pocket expenses incurred and paid by Employee in the course of the performance of Employee’s duties pursuant to this Agreement and consistent with the Company’s policies in
effect from time to time with respect to travel, entertainment and other business expenses, and subject to the Company’s requirements with respect to the manner of approval and reporting of such expenses. 

 5. Additional Benefits. 
 (a) Employee shall be eligible for such fringe benefits, if any, by way of insurance, hospitalization and vacations normally
provided to employees of the Company generally and such additional benefits as may be from time to time agreed upon in writing between Employee and the Company. 
 (b) Employee will receive cash bonuses as determined by the Company in its sole discretion, payable in such amounts and at
such times as the Company may determine. 
 6. Covenant Not to Disclose Confidential Information. Employee acknowledges
that during the course of his employment with the Company Employee has had and will continue to have access to and knowledge of certain information and data that the Company or any subsidiary, parent or affiliate of the Company considers
confidential and that the release of such information or data to unauthorized persons or entities would be extremely detrimental to the Company. As a consequence, Employee hereby agrees and acknowledges that he owes a duty to the Company not to
disclose, and agrees that, during and after the term of his employment, without the prior written consent of the Company, he will not communicate, publish or disclose, to any person or entity anywhere or use (for his own benefit or the benefit of
others) any Confidential Information (as defined below) for any purpose other than carrying out his duties as contemplated by this Agreement. Employee will use his best efforts at all times to hold in confidence and to safeguard any Confidential
Information to ensure that any unauthorized persons and entities do not gain possession of any Confidential Information and, in particular, will not permit any Confidential Information to be read, duplicated or copied. Employee will return to the
Company all originals and copies of documents and other materials, whether in printed or electronic format or otherwise, containing or derived from Confidential Information in Employee’s possession or under Employee’s control when the
duties of Employee no longer require Employee’s possession thereof, or whenever the Company requests, and in any event will return all such Confidential Information within ten days if the employment relationship with the Company is terminated
for any or no reason and will not retain any copies thereof. Employee acknowledges that Employee is obligated to protect the Confidential Information from disclosure or use even after termination of the employment relationship. For purposes of this
Agreement, the term “Confidential Information” means any information or data used by or belonging or relating to the Company or any subsidiary, parent or affiliate of the Company, or any party to whom the Company owes a duty of
confidentiality that is not known generally to the industry in which the Company or any subsidiary, parent or affiliate of the Company, or any party to whom the Company owes a duty of confidentiality is or may be engaged, including, but not limited
to, any and all trade secrets, proprietary data and information relating to the Company’s or any subsidiary, parent or affiliate of the Company’s, or any party to whom the Company owes a duty of confidentiality past, present or future
business and products, price lists, customer lists, acquisition candidates, processes, procedures or standards, know-how, manuals, hardware, software, source code, business strategies, records, marketing plans, drawings, technical information,
specifications, designs, patent information, financial information, whether or not reduced to writing, or information or data that the Company or any subsidiary, parent or affiliate of the Company or any party to whom the Company owes a duty of
confidentiality advises Employee should be treated as confidential information. Confidential Information does not include any information that:

  

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(i) is rightfully known to Employee prior to Employee’s employment, and independent of any disclosure or access to the information via the Company as evidenced by Employee’s
written records; or (ii) is or later becomes part of the public domain and known within the relevant industry through no fault of Employee. 
 7. Disclosure and Assignment of Intellectual Property. 
 (a)
Employee agrees that the Company shall become the owner of all inventions, discoveries, developments, ideas, writings, and expressions, including, but not limited to, any and all concepts, improvements, techniques, know-how, innovations, systems,
processes, machines, current or proposed products, works, information, reports, papers, logos, computer programs, designs, marketing materials, and methods of manufacture, distribution, management or other methods (whether or not reduced to writing
and whether or not patentable or protectable by copyright), that Employee conceives, develops, creates, makes, perfects or reduces to practice in whole or in part while employed by the Company or within one year after termination of Employee’s
employment for any or no reason, and that: (i) directly or indirectly relate to or arise out of Employee’s job responsibilities for the Company or the performance of the duties of Employee’s employment by the Company; (ii) result
from research, development, or other activities of the Company; or (iii) relate or pertain in any way to the existing or reasonably anticipated scope, business or products of the Company or any subsidiary, parent or affiliate of the Company
(collectively, the “Intellectual Property”). All of the right, title and interest in and to the Intellectual Property shall become exclusively owned by the Company or its nominee regardless of whether or not the conception,
development, creation, making, perfection or reduction to practice of such Intellectual Property involved the use of the Company’s time, facilities or materials and regardless of where such Intellectual Property may be conceived, made or
perfected. 
 (b) Employee agrees to promptly and fully disclose in writing to the Company all inventions,
discoveries, developments, ideas, writings, and expressions conceived, developed, created, made, perfected or reduced to practice, in whole or in part, while employed by the Company or within one year after termination of Employee’s employment
for any or no reason, regardless of whether Employee believes the invention, discovery, development, writing, expression or idea should be considered Intellectual Property of the Company under any provision of this Agreement, in order to enable the
Company to make a determination as to its rights with respect to the same. 
 (c) Any and all information
relating to Intellectual Property shall be considered Confidential Information and shall not be disclosed by Employee to any person or entity outside of the Company. 
 (d) Any Intellectual Property that is the subject of copyright shall be considered a “work made for hire” within
the meaning of the Copyright Act of 1976, as amended, and shall be the sole property of the Company or its nominee. To the extent that the Company does not automatically own any such Intellectual Property as a work made for hire, Employee shall
assign all right, title and interest in and to such Intellectual Property to the Company. All right, title and interest in and to any other Intellectual

  

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Property, including, but not limited to, patent, industrial design, trademark, trade dress and trade secret rights shall be assigned and is hereby assigned exclusively to the Company or its
nominee. Employee further agrees to execute and deliver all documents and do all acts that the Company considers necessary or desirable to secure to the Company or its nominee the entire right, title and interest in and to the Intellectual Property,
including, but not limited to, executing applications for any United States and/or foreign patents or copyright registrations, disclosing relevant prior art, reviewing office actions and providing technical input to assist the Company in overcoming
any rejections. Any document prepared and filed pursuant to this Section 7(d) shall be prepared and filed at the Company’s expense. Employee further agrees to cooperate with the Company as reasonably necessary to maintain or enforce the
Company’s rights in the Intellectual Property. Employee hereby irrevocably appoints the President of the Company as Employee’s attorney-in-fact with authority to execute for Employee and on Employee’s behalf any and all assignments,
patent or copyright applications, or other instruments and documents required to be executed by Employee pursuant to this Section 7(d), if Employee is unwilling or unable to execute same. 
 (e) The Company shall have no obligation to use, attempt to protect by patent or copyright, or promote any of the
Intellectual Property; provided, however, that the Company, in its sole discretion, may reward Employee for any especially meritorious contributions in any manner it deems appropriate or may provide Employee with full or partial releases as to any
subject matter contributed by Employee in which the Company is not interested. 
 8. Legal Proceedings to Compel
Disclosure. In the event that Employee is requested pursuant to, or required by, applicable law, regulation, or legal process, to disclose any Confidential Information or Intellectual Property, Employee shall notify the Company of such request
within five days of such request being made and shall enable the Company or any subsidiary, parent or affiliate of the Company to seek an appropriate protective order. In the event that such a protective order or other protective remedy is not
obtained, Employee shall furnish only that portion of the Confidential Information or Intellectual Property that, in the opinion of Employee’s counsel, is legally required and will exercise Employee’s best efforts to obtain reliable
assurances that confidential treatment will be accorded the Confidential Information or Intellectual Property. 
 9. Covenant
Not to Compete. Employee acknowledges that during his employment with the Company he, at the expense of the Company, has been and will continue to be specially trained in the business of the Company, has established and will continue to
establish favorable relations with the customers, clients and accounts of the Company or any subsidiary, parent or affiliate of the Company and has had and will continue to have access to the Intellectual Property, trade secrets and Confidential
Information of the Company or any subsidiary, parent or affiliate of the Company. Therefore, in consideration of such training and relations, and in consideration of his employment with the Company and the additional benefits provided by this
Agreement, and in consideration of the restricted units awarded to Employee on the same date of this Agreement, and to further protect the Intellectual Property, trade secrets and Confidential Information of the Company or any subsidiary, parent or
affiliate of the Company, Employee agrees that during the term of his employment by the Company and for a period of two (2) years from and after the voluntary or involuntary

  

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termination of such employment for any or no reason, he will not, directly or indirectly, without the express written consent of the Company, except when and as requested to do in and about the
performing of his duties under this Agreement: 
 (a) own, manage, operate, control or participate in the
ownership, management, operation or control of, or have any interest, financial or otherwise, in or act as an officer, director, partner, manager, member, principal, employee, agent, representative, consultant or independent contractor of, or in any
way assist, any individual or entity in the conduct of any business that trades, markets, sells or distributes propane gas (at retail, wholesale or otherwise), gathers, processes, stores, transports, trades, markets or distributes natural gas or
liquefied by-products of natural gas or petroleum (at retail, wholesale or otherwise) or sells, services and installs parts, appliances or supplies related thereto,; 
 (b) divert or attempt to divert clients or customers (whether or not such persons have done business with the Company or any
subsidiary, parent or affiliate of the Company once or more than once) or accounts of the Company or any subsidiary, parent or affiliate of the Company; or 
 (c) entice or induce or in any manner influence any person who is or shall be in the employ or service of the Company or any subsidiary, parent or affiliate of the Company to leave such employ or service
for the purpose of engaging in a business that may be in competition with any business now or at any time during the period hereof engaged in by the Company or any subsidiary, parent or affiliate of the Company. 
 Notwithstanding the foregoing provisions, Employee may (i) take action for, on behalf of, and at the direction of the Company pursuant
to a written agreement with the Company or otherwise, and (ii) own up to 5% of the outstanding equity securities in any corporation or entity (including, but not limited to, units in a master limited partnership) that is listed upon a national
stock exchange or actively traded in the over-the-counter market. 
 10. Specific Performance. Recognizing that
irreparable damage will result to the Company in the event of the breach or threatened breach of any of the foregoing covenants and assurances by Employee contained in Sections 6, 7, 8 or 9, and that the Company’s remedies at law for any such
breach or threatened breach will be inadequate, the Company and its successors and assigns, in addition to such other remedies which may be available to them, shall be entitled to an injunction, including a mandatory injunction, to be issued by any
court of competent jurisdiction ordering compliance with this Agreement or enjoining and restraining Employee, and each and every person and entity acting in concert or participation with him, from the continuation of such breach and, in addition
thereto, he shall pay to the Company all ascertainable damages, including, but not limited to, costs and reasonable attorneys’ fees sustained by the Company by reason of the breach or threatened breach of such covenants and assurances. The
covenants and obligations of Employee set forth in Sections 6, 7, 8 and 9 are in addition to and not in lieu of or exclusive of any other obligations and duties of Employee to the Company, whether express or implied in fact or in law. 
  

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 11. Company Policies. Employee agrees to affirmatively support the Company’s
policies and practices as they may from time to time be adopted by the Company, including, but not limited to, policies against discrimination and harassment in the workplace. 
 12. Term and Termination. 
 (a) Subject to earlier termination as provided in Sections 12(b), 12(c), 12(d) and 12(e), the term of Employee’s employment under this Agreement will be through and including February 1, 2015
and will automatically be extended for consecutive one year periods thereafter unless either party elects to terminate such employment and notifies the other party of such election at least 30 days prior to the end of the then-current term.

 (b) Notwithstanding Section 12(a), Employee’s employment with the Company will terminate immediately
upon the death, disability or adjudication of legal incompetence of Employee, or upon the Company’s ceasing to carry on its business without assigning this Agreement pursuant to Section 18 or becoming bankrupt. For purposes of this
Agreement, Employee will be deemed to be disabled when Employee has become unable, by reason of physical or mental disability, to satisfactorily perform the essential functions of his job and there is no reasonable accommodation that can be provided
to enable him to perform satisfactorily those essential functions. Such matters will be determined by, or to the reasonable satisfaction of, the Company. 
 (c) Notwithstanding Section 12(a), the Company may terminate Employee’s employment at any time for Cause or without Cause. “Cause” means: (i) Employee has engaged in
negligence (through act or omission) or misconduct that is injurious to the Company or any subsidiary, parent or affiliate of the Company; (ii) Employee has been convicted of, or has entered a plea of nolo contendere to, any crime involving the
theft or willful destruction of money or other property, any crime involving moral turpitude or fraud, or any crime constituting a felony; (iii) Employee has engaged in acts or omissions against the Company or any subsidiary, parent or
affiliate of the Company constituting dishonesty, breach of fiduciary obligation, or intentional wrongdoing or misfeasance; or (iv) Employee has engaged in the use of alcohol or drugs on the job, or has engaged in excessive absenteeism from the
performance of his duties as the Company’s employee, other than for reasons of illness. 
 (d) If
Employee’s employment with the Company is terminated (1) as a result of the death, disability, adjudication of legal incompetence of Employee, (2) as a result of the Company ceasing to carry on its business without assigning this
Agreement pursuant to Section 18, (3) as a result of the Company becoming bankrupt, (4) by the Company for Cause, or (5) by Employee for any or no reason, the Company shall pay or provide to Employee: 
 (i) such Salary as Employee has earned and not yet received through the date of such employment termination, determined on a
pro rata basis based on the number of work days in the month of termination; 
  

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 (ii) such other fringe benefits (other than any bonus, severance pay benefit
or participation in the Company’s 401(k) employee benefit plan) normally provided to employees of the Company as Employee has earned and not yet received through the date of such employment termination, determined on a pro rata basis based on
the number of work days in the month of termination. 
 (e) If Employee’s employment with the Company is
terminated by the Company without Cause (and not due to the death, disability, adjudication of legal incompetence of Employee, or as a result of the Company ceasing to carry on its business without assigning this Agreement pursuant to
Section 18, or becoming bankrupt), the Company shall pay or provide to Employee: 
 (i) the unpaid amount of
Employee’s Salary for the remainder of the then-current term of this Agreement, payable bi-monthly in arrears; 
 (ii) such other fringe benefits (other than any bonus, severance pay benefit or participation in the Company’s 401(k) employee benefit plan) normally provided to employees of the Company as Employee has earned and not yet received
through the date of such employment termination, determined on a pro rata basis based on the number of work days in the month of termination. 
 13. Survival of Obligations. All obligations of Employee that by their nature involve performance, in any particular, after the expiration or termination of Employee’s employment with the
Company, or that cannot be ascertained to have been fully performed until after the expiration or termination of Employee’s employment with the Company, shall survive the expiration or termination of this Agreement. Except as otherwise
specifically provided in this Agreement, all of the Company’s obligations under this Agreement will terminate at the time this Agreement or Employee’s employment with the Company is terminated for any reason. 
 14. Notice. Any notice, request, consent or communication under this Agreement is effective only if it is in writing and personally
delivered or sent by certified mail, return receipt requested, postage prepaid, or by a nationally recognized overnight delivery service, with delivery confirmed, addressed as follows: 
  

			
	If to the Company:	  	
		
	Name:	  	With Copy To:
	Attn: John J. Sherman	  	Attn: Laura L. Ozenberger
	Inergy GP, LLC	  	Inergy GP, LLC
	Two Brush Creek Blvd., Suite 200	  	Two Brush Creek Blvd., Suite 200
	Kansas City, Missouri 64112	  	Kansas City, Missouri 64112
		
	If to Employee:	  	
		
	Name:	  	
	Phillip L. Elbert	  	
	1456 Leech Lane	  	
	P.O. Box 372	  	
	Eastport, Michigan 49627	  	

  

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 or such other persons and/or addresses as shall be furnished in writing by any party to the other party, and
shall be deemed to have been given only upon its delivery in accordance with this Section 14. 
 15. No Conflicts.
Employee represents and warrants to the Company that neither the execution nor delivery of this Agreement, nor the performance of Employee’s obligations hereunder will conflict with, or result in a breach of, any term, condition, or provision
of, or constitute a default under, any obligation, contract, agreement, covenant or instrument to which Employee is a party or under which Employee is bound, including the breach by Employee of a fiduciary duty to any former employers. 

16. Entire Agreement; Amendment; Termination of Previous Agreement. This Agreement cancels and supersedes all previous agreements
relating to the subject matter of this Agreement, written or oral, between the parties hereto (including the Amended and Restated Employment Agreement dated February 8, 2005 between Employee and Company, the Employment Agreement, dated
January 12, 2001, between Employee and Inergy Partners, LLC, as amended by the First Amendment to Employment Agreement, dated July 19, 2001, between Employee and Inergy Partners, LLC, each of which was assigned by Inergy Partners, LLC to
the Company on July 31, 2001) and contains the entire understanding of the parties hereto with respect to the subject matter hereof and shall not be amended, modified or supplemented in any manner whatsoever except as otherwise provided herein
or in writing signed by each of the parties hereto. 
 17. Potential Unenforceability of Any Provision. If a final
judicial determination is made that any provision of this Agreement is an unenforceable restriction against Employee, the provisions of this Agreement will be rendered void only to the extent that such judicial determination finds such provisions
unenforceable, and such unenforceable provisions will automatically be reconstituted and become a part of this Agreement, effective as of the date of this Agreement, to the maximum extent in favor of the Company that is lawfully enforceable. A
judicial determination that any provision of this Agreement is unenforceable will not render the entire Agreement unenforceable, but rather this Agreement will continue in full force and effect absent any unenforceable provision to the maximum
extent permitted by law. 
 18. Assignment. This Agreement is personal and not assignable by Employee but it may be
assigned by the Company without notice to or consent of Employee to, and shall thereafter be binding upon and enforceable by, any affiliate of the Company and any person or entity who acquires or succeeds to substantially all of the business or
assets of the Company or substantially all of the business or assets of the principal operating unit that Employee oversees or to which Employee is assigned (and such person or entity will be deemed included in the definition of the
“Company” for all purposes of this Agreement) but is not otherwise assignable by the Company. 
 19. Waiver of
Breach. Failure of the Company to demand strict compliance with any of the terms, covenants or conditions hereof shall not be deemed a waiver of the term, covenant or condition, nor will any waiver or relinquishment by the Company of any

  

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right or power hereunder at any one time or more times be deemed a waiver or relinquishment of the right or power at any other time or times. 
 20. Expenses. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing
party is entitled to receive reasonable attorney’s fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. 
 21. Headings. The headings of the sections of this Agreement have been inserted for convenience of reference only and do not restrict or otherwise modify any of the terms or provisions hereof.

 22. Governing Law. This Agreement and all rights and obligations of the parties hereunder are governed by the laws of
the State of Missouri applicable to agreements made and to be performed entirely within the State, including all matters of enforcement, validity and performance. 
 23. Counterparts. This Agreement may be executed in any number of counterparts, each of which are deemed to be an original and all of which constitute one agreement that is binding upon both of the
parties hereto, notwithstanding that both parties are not signatories to the same counterpart. 
 [The remainder of this page
intentionally has been left blank] 
  

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 The parties have executed this Second Amended and Restated Employment Agreement as of the
date set forth in the introductory clause. 
  

					
	INERGY GP, LLC
		
	By:	 	 /s/ John J. Sherman

		 	Name:	 	John J. Sherman
		 	Title:	 	President
	
	 /s/ Phillip L. Elbert

	PHILLIP L. ELBERT

  

 10Form for Performance Share Amendment and Form for Restricted Stock Agreement

 Exhibit 10.1 
 December 14, 2009 
 [Name] 
 1195 NW Compton Dr. 
 Beaverton, OR 97006 
  

	Re:	Repurposing Performance Shares 

 Dear
[Name]: 
 As you are already aware, on November 20, 2009 the Compensation Committee of the Board of Directors of Planar Systems, Inc. (the
“Company”) approved an amendment to your outstanding performance shares listed below (the “Award(s)”) to repurpose them so that the number of repurposed shares set forth below (the “Repurposed Award(s)”) will no longer
be performance shares that vest based on the achievement of certain share price goals as set forth on the applicable Performance Share Agreement and Notice of Grant, but will instead vest based on your continued service to the Company on the terms
and conditions set forth in the Restricted Stock Award Agreement attached as Appendix A to this letter. 
  

							
	 Grant Date
	 	 Target Number of
 Performance
 Shares
	 	 Performance Period
	 	 Number of Performance
 Shares Repurposed with
 Time-Based Vesting

	 October 10, 2008
	 	        	 	FY 2009 through FY 2010	 	106,667

 To acknowledge your agreement with
this amendment, including the terms and conditions set forth in the Restricted Stock Award Agreement attached as Appendix A to this letter, which governs your Repurposed Award(s) effective as of November 20, 2009, please sign and
deliver to me the Acknowledgment contained in the extra copy of this letter provided for that purpose confirming your agreement to the amendment and the terms of this letter and the Restricted Stock Award Agreement attached as Appendix A
to this letter. 
 Please do not hesitate to contact me or Steve Going if you have any questions regarding this matter. 
  

	
	 Very truly yours,

	
	 Planar Systems, Inc.

	
	  

	 [CEO or Secretary]

	
	 ACKNOWLEDGED AND ACCEPTED:

	
	  

	 [Name]

 APPENDIX A 
 FORM OF RESTRICTED STOCK AWARD AGREEMENT 

 PLANAR SYSTEMS, INC. 
 RESTRICTED STOCK AWARD AGREEMENT 
  

			
	 TO: [Name]
	 	Effective Date: November 20, 2009

 We are pleased to inform you that the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Planar Systems, Inc. (the “Company”) has approved
management’s recommendation for an award of          shares (the “Shares”) of the Company’s common stock. This award (the “Award”) is subject to the following terms and
conditions. 
 VESTING. The Shares will vest and become deliverable to you on a three year schedule, with one twelfth of the
Shares vesting on the last day of each fiscal quarter beginning on December 25, 2009 and ending on the last day of Fiscal 2012; provided, however, that through September 24, 2010 the Shares shall remain subject to Section 4 of the
Performance Share Agreement under which rights to the Shares were initially granted in October 2008. 
 The Shares subject to
this Agreement may not be sold, assigned, transferred, pledged or otherwise encumbered (either voluntarily or by operation of law) until the Shares are vested and delivered to you. After the Shares are vested and delivered to you, you shall become
the owner of the Shares free of all restrictions otherwise imposed by this Agreement. Notwithstanding any other provision of this Agreement, the Committee may at any time, in its sole discretion, accelerate the date of vesting and delivery of all or
a portion of the Shares subject to this Award. 
 VOTING RIGHTS. You will be entitled to vote the Shares before the Shares have
vested and been delivered to you to the same extent as would have been applicable to you if you were then vested in the Shares; provided, however, that you will not be entitled to vote the Shares with respect to record dates for such voting rights
arising prior to the Effective Date, or with respect to record dates occurring on or after your Date of Termination (as defined below). 
 DEPOSIT OF SHARES. Shares shall be issued you as soon as practicable after the Effective Date via Book Entry made by The Company’s designated stock transfer agent. The stock transfer agent will hold
Shares in Book Entry form until the possibility of forfeiture has lapsed. Certificates for Shares shall then be issued in your name and delivered to the registered owner as soon as practicable. If forfeiture occurs, the Book Entry covering the
forfeited shares shall be promptly canceled by The Company via written instruction to the transfer agent without additional authorization from you. While the transfer agent holds the shares in Book Entry form, you may exercise voting and other
shareholder rights. 
 WITHHOLDING TAXES. As a condition to the delivery of the Shares, you must make such arrangements as the
Company may require for the satisfaction of any federal, state or local withholding tax obligations that may arise in connection with the vesting and delivery of the Shares. At your request, the Company shall withhold such number of Shares as
instructed by you to satisfy up to all of your minimum anticipated tax liability arising in connection with the vesting of the Shares. The calculation of your anticipated tax liability shall be made by the Company, and the withheld Shares shall be
valued at the most recent closing price of the Common Stock. 
  

 1 – RESTRICTED STOCK AWARD AGREEMENT 

 TERMINATION. Subject to the paragraph above entitled “VESTING” and the applicable
terms and conditions of any employment or severance agreement between you and the Company, if your employment with the Company terminates for any reason, including death or disability (the “Date of Termination”), then this Award shall
immediately expire and no additional Shares shall be vested or delivered to you pursuant to this Award and you shall forfeit all Shares that are not vested before the Date of Termination. Your Date of Termination for purposes of this Agreement shall
be determined by the Committee, which determination shall be final. 
 TRANSFERABILITY OF AWARD. This Award and the rights and
privileges conferred hereby may not be sold, transferred, assigned, pledged, encumbered or hypothecated in any manner (whether by operation of law or otherwise) and any such attempted action shall be null and void. The terms of this Agreement shall
be binding upon your executors, administrators, heirs, successors and assigns. Notwithstanding the foregoing, to the extent permitted by applicable law and regulation, the Company, in its sole discretion, may permit you to transfer this Award and
the rights and privileges conferred hereby. 
 CONTINUATION OF RELATIONSHIP. Nothing in this Award will confer upon you any
right to continue in the employ or other relationship of the Company, or to interfere in any way with the right of the Company to terminate your employment or other relationship with the Company at any time. 
 DIVIDENDS. The Company shall retain cash or stock dividends declared on the Shares, if any, for your account. Cash dividends paid with
respect to Shares will be paid to you in a lump sum upon the vesting of such Shares, subject to the withholding requirements associated with this Award. Stock received upon payment of stock dividends shall be issued via Book Entry made by the
Company’s designated stock transfer agent, and will be held in Book Entry form until the possibility of forfeiture with respect to the relevant Shares has lapsed. You shall have no right to receive retained cash or stock dividends with respect
to Shares that do not vest or are otherwise forfeited. 
 SECURITIES LAW COMPLIANCE. Notwithstanding any other provision of this
Award, you may not sell any Shares unless they are registered under the Securities Act of 1933, as amended (the “Securities Act”), or, if such Shares are not then so registered, The Company has determined that such sale would be exempt
from the registration requirements of the Securities Act. The sale of the Shares must also comply with other applicable laws and regulations governing the Shares, and you may not sell the Shares if the Company determines that such sale would not be
in material compliance with such laws and regulations. 
 STOP TRANSFER INSTRUCTIONS. You understand and agree that, in order to
ensure compliance with the restrictions referred to in this Award, the Company may issue appropriate “stop-transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own

  

 2 – RESTRICTED STOCK AWARD AGREEMENT 

 
securities, it may make appropriate notations to the same effect in its own records. The Company will not be required to (a) transfer on its books any Shares that have been sold or
transferred in violation of the provisions of the terms of this Award or (b) treat as the owner of the Shares, or otherwise accord voting, dividend or liquidation rights to, any transferee to whom the Shares have been transferred in
contravention of the terms of this Award. 
 SECTION 83(b) ELECTION FOR SHARES. You understand that under Section 83(a) of
the Internal Revenue Code (the “Code”), the excess of the Fair Market Value of the Shares on the date the forfeiture restrictions lapse over the purchase price, if any, paid for such Shares will be taxed, on the date such forfeiture
restrictions lapse, as ordinary income subject to payroll and withholding tax and tax reporting, as applicable. For this purpose, the term “forfeiture restrictions” means the right of the Company to receive back any unvested Shares upon
termination of your employment with the Company or any subsidiary of the Company. You understand that you may elect under Section 83(b) of the Code to be taxed at the time the Shares are acquired, rather than when and as the Shares cease to be
subject to the forfeiture restrictions. Such election (an “83(b) Election”) must be filed with the Internal Revenue Service within 30 days from the Effective Date of the Award of Shares as set forth above. 
 You understand that (a) you will not be entitled to a deduction for any ordinary income previously recognized as a result of the 83(b) Election if the
Shares are subsequently forfeited to the Company and (b) the 83(b) Election may cause you to recognize more ordinary income than you would have otherwise recognized if the value of the Shares subsequently declines. 
 THE FORM FOR MAKING AN 83(b) ELECTION IS ATTACHED TO THIS AGREEMENT AS EXHIBIT A. YOU UNDERSTAND THAT FAILURE TO FILE SUCH AN ELECTION WITHIN THE
30-DAY PERIOD MAY RESULT IN THE RECOGNITION OF ORDINARY INCOME BY YOU AS THE FORFEITURE RESTRICTIONS LAPSE. You further understand that an additional copy of such election form should be filed with your federal income tax return for the calendar
year in which the date of this Award falls. You acknowledge that the foregoing is only a summary of the federal income tax laws that apply to the purchase of the Shares under this Award and does not purport to be complete. 
 YOU FURTHER ACKNOWLEDGE THAT THE COMPANY HAS DIRECTED YOU TO SEEK INDEPENDENT ADVICE REGARDING THE APPLICABLE PROVISIONS OF THE CODE AND THE INCOME TAX
LAWS OF ANY MUNICIPALITY OR STATE IN WHICH YOU MAY RESIDE. 
 You agree that to deliver to the Company a copy of the 83(b) Election attached
hereto as Exhibit A if you choose to make such an election. 
 INDEPENDENT TAX ADVICE. You acknowledge that
determining the actual tax consequences to you of receiving or disposing of the Shares may be complicated. These tax consequences will depend, in part, on your specific situation and may also depend on the resolution of currently uncertain tax law
and other variables not within the control of the Company. You are aware that you should consult a competent and independent tax advisor for a full understanding of the specific tax consequences to you of receiving or disposing of the

  

 3 – RESTRICTED STOCK AWARD AGREEMENT 

 
Shares. Prior to executing this Award, you have either has consulted with a competent tax advisor independent of the Company or any subsidiary of the Company to obtain tax advice concerning the
Shares in light of your specific situation or has had the opportunity to consult with such a tax advisor but chose not to do so. 
 DETERMINATION OF COMMITTEE TO BE FINAL. The administration of this Award and all determinations referred to herein or otherwise will be made by the Committee, and such determinations will be final, binding and conclusive. 
 ADJUSTMENTS UPON CHANGES IN CAPITAL. The aggregate number of Shares covered by this Award will be proportionally adjusted for any increase
or decrease in the number of issued and outstanding Shares resulting from a stock split-up or consolidation of Shares or any like capital adjustments, or the payment of any stock dividend. 
 Please execute the Agreement in the space below and return it to the undersigned. 
  

			
	Very truly yours,
	
	PLANAR SYSTEMS, INC.
		
	By:	 	  

		 	[CEO or Secretary]
	Title	 	

  

			
	AGREED AND ACCEPTED:
		
	By:	 	  

	[Name]	 	

  

 4 – RESTRICTED STOCK AWARD AGREEMENT 

 EXHIBIT A 
 ELECTION UNDER SECTION 83(b) OF THE INTERNAL REVENUE CODE OF 1986 
 The undersigned taxpayer hereby elects, pursuant to Section 83(b) of the Internal Revenue Code, to include in taxpayer’s gross income for the current taxable year the amount of any compensation taxable to taxpayer in connection
with taxpayer’s receipt of the property described below: 
  

	1.	The name, address, taxpayer identification number and taxable year of the undersigned are as follows: 

 NAME OF TAXPAYER:
                                         
        
 ADDRESS:
                                         
                              
                                        
                                         
           
 IDENTIFICATION NO. OF TAXPAYER:
                     
 TAXABLE YEAR:                      
  

	2.	The property with respect to which the election is made is described as follows:          shares of the common stock of
Planar Systems, Inc., an Oregon corporation (the “Company”). 

  

	3.	The date on which the property was transferred is: November 20, 2009. 

  

	4.	The property is subject to the following restrictions: 

 The property is subject to a right pursuant to which taxpayer forfeits the rights in and to the shares of common stock if for any reason taxpayer’s service with the Company is terminated prior to
three years from the date on which the property was transferred. The forfeiture right lapses in a series of equal quarterly installments over a three-year period ending on September 28, 2012. 
  

	5.	The aggregate fair market value at the time of transfer, determined without regard to any restriction other than a restriction which by its terms will never lapse, of
such property is:                                 . 

  

	6.	The amount (if any) paid for such property is: $0 

 The undersigned has submitted a copy of this statement to the person for whom the services were performed in connection with the undersigned’s receipt of the above-described property. The undersigned
is the person performing the services in connection with the transfer of said property. 
  

 5 – RESTRICTED STOCK AWARD AGREEMENT 

 The undersigned understands that the foregoing election may not be revoked except with
the consent of the Commissioner. 
  

					
	 Dated:
                    
	  		  	  

		  		  	[Name]

  

 6 – RESTRICTED STOCK AWARD AGREEMENT

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