Document:

Exhibit 10.2

 

VIRGIN MEDIA INC.

 

FORM OF RESTRICTED STOCK UNIT AGREEMENT

 

THIS
AGREEMENT (this “Agreement”) is made and entered into as of January 7,
2010 (“Grant Date”) by and between Virgin Media Inc., a Delaware Company (the “Company”),
and [Name] (the Employee”).

 

1.                                       Grant
of Restricted Stock Units.  Subject to and upon the terms, conditions,
and restrictions set forth in this Agreement and in the Virgin Media Inc. 2006
Stock Incentive Plan (the “Plan”), the Company hereby grants to the Employee a
maximum of [Number]  Restricted
Stock Units.  Unless the context
otherwise requires, terms used but not defined herein shall have the same
meaning as in the Plan.

 

2.                                       Vesting
of Restricted Stock Units.

 

(a)                                   Vesting
Schedule.  Except as
otherwise provided in this Agreement, a number of Restricted Stock Units shall
become non-forfeitable if and only if (i) the relevant Performance
Condition set out in Exhibit A has been met and (ii) the Employee has
remained in the continuous employment of the Company from the Grant Date
through the Prescribed Date (as defined in Section 4 hereof).  The number of Restricted Stock Units that
shall become non-forfeitable shall be calculated in accordance with the formula
set forth in Exhibit A.

 

(b)                                  No
Accelerated Vesting. 
Notwithstanding Section 7(b)(2) of the Plan, the Restricted
Stock Units shall not vest or become non-forfeitable upon the occurrence of an
Acceleration Event unless the Committee, in its absolute discretion, determines
otherwise after the Grant Date.

 

(c)                                   Continuous
Employment.  For purposes
of this Agreement, the continuous employment of the Employee with the Company
shall include employment with a Subsidiary Company, Parent Company or
Affiliated Entity, and shall not be deemed to have been interrupted, and the
Employee shall not be deemed to have ceased to be an employee of the Company by
reason of the transfer of the Employee’s employment among the Company, a
Subsidiary Company, Parent Company or Affiliated Entity.

 

3.                                       Forfeiture
of Restricted Stock Units.

 

(a)                                   Any Restricted
Stock Units that have not theretofore become non-forfeitable shall be forfeited
if the Employee ceases to be continuously employed by the Company prior to the Prescribed
Date.  In the event of a forfeiture,
forfeited Restricted Stock Units shall cease to be outstanding and the Employee
shall cease to have right, title or interest in, to or on account of the
forfeited Restricted Stock Units or any underlying shares of Common Stock.

 

(b)                                  For the purposes
of this Agreement, where the Employee ceases to hold an office or employment
with the Company because his employment is terminated by his employer without
notice or where he terminates his employment with or without notice, his
employment shall be deemed to cease on the date on which the termination takes
effect or, if earlier, the date of giving notice. If the Employee’s employment
is terminated by his employer with notice his employment shall be deemed to
cease on the date when such notice expires.

 

4.                                       Settlement
of Restricted Stock Units.  Upon Restricted Stock Units becoming
non-forfeitable in accordance with Section 2 of this Agreement, each such
Restricted Stock Unit shall entitle the Employee to, in the discretion of the
Committee, one share of Common Stock or an amount of cash equal to the Fair
Market Value of one share of Common Stock determined as of the date on which
such Restricted Stock Units become non-forfeitable.  Settlement of the Restricted Stock Units
shall occur on the “Prescribed Date” as nominated by the Committee. The
Prescribed Date shall be a date on or after the date on which the Company’s
annual audited financial statements for the year ending December 31, 2012
are filed with the SEC but shall not, in any event, be a date later than April 30
2013.  In determining the Prescribed
Date, the Committee shall be entitled to take into account closed trading
periods for the Common Stock and the Company’s Insider Trading Policy.  If settlement is made in the form of shares
of Common Stock, such shares shall be evidenced by book entry registration or
by a certificate registered in the name of the Employee.

 

5.                                       Dividend,
Voting and Other Rights.  The Employee shall have none of the rights of
a shareholder with respect to any shares of Common Stock underlying the
Restricted Stock Units, including the right to vote such shares and accrue or receive
any dividends that may be paid thereon until such time, if any, that shares of
Common Stock are delivered to the Employee in settlement thereof; provided,
that, upon the occurrence of an event set forth in Section 9 of the Plan,
the Restricted Stock Units shall be subject to adjustment pursuant to Section 9
of the Plan.

 

 

6.                                       No
Special Employment Rights.  Nothing contained in the Plan or this
Agreement shall be construed or deemed by any person under any circumstances to
obligate the Company to continue the employment of the Employee for any period.

 

7.                                       Withholding.  It shall be a condition to the vesting of any
Restricted Stock Units, the payment of cash hereunder, or the issuance of
shares of Common Stock hereunder, as the case may be, that the Employee shall
pay, or make provisions for payment of, all income, employment or other tax (or
similar) and social security (or similar) withholding requirements in a manner
that is satisfactory to the Company for the payment thereof.

 

8.                                       Miscellaneous.

 

(a)                                  Except as
otherwise expressly provided herein, this Agreement may not be amended or
otherwise modified in a manner that adversely affects the rights of the
Employee, unless evidenced in writing and signed by the Company and the
Employee.

 

(b)                                 All notices
under this Agreement shall be delivered by hand, sent by commercial overnight
courier service or sent by registered or certified mail, return receipt
requested, and first-class postage prepaid, to the Employee at the address on
file with the Company’s Payroll Department and to the Company at 909 Third
Avenue, Suite 2863, New York, NY 10022, or at such other address as may be
designated in a notice by either party to the other.

 

(c)                                  The Company
shall not be obligated to issue any shares of Common Stock or other securities
pursuant to this Agreement if the issuance thereof would result in a violation
of any applicable federal and state securities laws.

 

(d)                                 Any amendment to
the Plan shall be deemed to be an amendment to this Agreement to the extent
that the amendment is applicable hereto; provided, however, that
no amendment shall adversely affect the rights of the Employee under this
Agreement without the Employee’s consent, except to the extent necessary to
comply with applicable law.

 

(e)                                  This Agreement
is subject to the terms and conditions of the Plan.  In the event of any inconsistency between the
provisions of this Agreement and the Plan, the Plan shall govern.  The Committee, acting pursuant to the Plan,
as constituted from time to time, shall, except as expressly provided otherwise
herein, have the right to determine any questions that arise in connection with
this Agreement.

 

(f)                                    Each provision
of this Agreement shall be considered separable.  The invalidity or unenforceability of any
provision shall not affect the other provisions, and this Agreement shall be
construed in all respects as if such invalid or unenforceable provision was
omitted.

 

(g)                                 This Agreement
shall be governed by and construed in accordance with the laws of the State of
Delaware.

 

(h)                                 The failure of
the Company or the Employee to insist upon strict performance of any provision
hereunder, irrespective of the length of time for which such failure continues,
shall not be deemed a waiver of such party’s right to demand strict performance
at any time in the future.  No consent or
waiver, express or implied, to or of any breach or default in the performance
of any obligation or provision hereunder shall constitute a consent or waiver
to or of any other breach or default in the performance of the same or any
other obligation hereunder.

 

(i)                                     This Agreement
is a matter entirely separate from any pension right or entitlement that the
Employee may have and from his or her terms and conditions of employment, and,
in particular (but without limiting the generality of the foregoing), if the
Employee leaves the employment of the Company and any Parent Company,
Subsidiary Company or Affiliated Entity or otherwise ceases to be an employee
thereof, he or she shall not be entitled to any compensation for any loss of
any right or benefit or prospective right or benefit under this Agreement which
he or she might otherwise have enjoyed whether such compensation is claimed by
way of damages for wrongful dismissal or other breach of contract or by way of
compensation for loss of office or otherwise howsoever.

 

(j)                                     No term in this
Agreement is enforceable under the Contract (Rights of Third Parties) Act 1999,
but this does not affect any rights or remedy of a third party which exists or
is available apart from such Act.

 

 

IN WITNESS WHEREOF, the parties to the Agreement have
duly executed and delivered this Agreement as of the date first written above.

 

 

	
   

  	
   

  	
  VIRGIN
  MEDIA INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
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  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  ACCEPTED
  AND AGREED

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
  Name:Exhibit 10.3

 

FORM OF
NON-QUALIFIED STOCK OPTION NOTICE

 

[NAME]

[ADDRESS]

 

This Option Notice (the “Notice”) dated as of January 7,
2010 (the “Grant Date”) is being sent to you by Virgin Media Inc. (including
any successor company, the “Company”). 
As you are presently serving as an employee of Virgin Media Inc. or one
of its subsidiary corporations, in recognition of your services and pursuant to
the Virgin Media Inc. 2006 Stock Incentive Plan (the “Plan”), the Company has
granted you the Option provided for in this Notice (the “Option”). The Option
is subject to the terms and conditions set forth in the Plan, which is
incorporated herein by reference, and defined terms used but not defined in
this Notice shall have the meaning set forth in the Plan.

 

1.  Grant of Option.  The Company hereby irrevocably grants to you,
as of the Grant Date, an option to purchase up to [Number] shares of the
Company’s Common Stock at a price of $17.16 per share (the “Option”).  The Option is not intended to qualify as an
incentive stock option under US tax laws and is not intended to qualify as an
approved option under UK tax laws.

 

2.  Vesting.  The Option shall vest in accordance with the
following table provided that you are employed by the Company or one of its
subsidiary corporations on each such vesting date:

 

	
  Vesting
  Date

  	
   

  	
  Number of Options Vesting

  
	
  January 1,
  2011

  	
   

  	
  [Number]

  
	
  January 1,
  2012

  	
   

  	
  [Number]

  
	
  January 1,
  2013

  	
   

  	
  [Number]

  
	
  January 1,
  2014

  	
   

  	
  [Number]

  
	
  January 1,
  2015

  	
   

  	
  [Number]

  

 

3.  Acceleration Event.  In the event you are subject to a termination
of employment by the Company without Cause or you terminate your employment for
Good Reason in either case within twelve (12) months following an Acceleration
Event, the Option shall vest and become exercisable as to all of the shares
subject to the Option.  For purposes of
this paragraph 3, Good Reason shall mean a termination of your employment by
you following the occurrence of any of the following events without your
consent: (i) a material breach by the Company of any of the covenants in
the employment agreement between you and the Company or any of its
subsidiaries, as amended from time to time (the “Employment Agreement”), (ii) any
material reduction in your base salary as set forth in the Employment
Agreement, or (iii) any material and adverse change in your position,
title or status or any change in your job duties, authority or responsibilities
to those of lesser status.  You shall
give the Company ten (10) days notice of your intention to terminate your
employment for Good Reason (as defined in (i) through (iii) above)
has occurred, and such notice shall describe the facts and circumstances in
support of such claim in reasonable detail. 
The Company shall have ten (10) days thereafter to cure such facts
and circumstances if possible.

 

4.  Exercise Period. Except as set
forth in paragraph 3, the Option shall stop vesting immediately upon the
termination of your employment and any portion of the Option that is not vested
at the time of termination of your employment shall immediately be forfeited
and cancelled.  Your right to exercise
that portion of the Option that is vested at the time of your termination shall
terminate on the earlier of the following dates: (a) three months after
the termination of your employment other than for Cause; (b) one year
after your termination resulting from your retirement, disability or death; (c) the
date on which your employment is terminated for Cause; or (d) January 6,
2020.

 

5.  Manner of Exercise.  The Option may be
exercised by delivery to the Company of a written notice signed by the person
entitled to exercise the Option, specifying the number of shares which such
person wishes to purchase, together with a certified bank cheque or cash (or
such other manner of payment as permitted by the Plan) for the aggregate option
price for that number of shares and any required withholding (including a
payment sufficient to indemnify the Company or any subsidiary of the Company in
full against any and all liability to account for any tax, employee’s National
Insurance contributions, or duty payable and arising by reason of the exercise
of the Option).

 

 

6.  Transferability.  Neither the Option nor any interest in the
Option may be transferred other than by will or the laws of descent or distribution,
and this Option may be exercised during your lifetime only by you or your
guardian or legal representative.

 

 

	
   

  	
  VIRGIN
  MEDIA INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

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