Document:

exv10w1

 

Exhibit 10.1

Second Amendment

to the

Natural Resource Partners

Long-Term Incentive Plan

(as Amended and Restated)

     WHEREAS, GP Natural Resource Partners LLC (the “Company”) maintains the Natural Resource
Partners Long-Term Incentive Plan (the “Plan”) for the purpose of granting Awards thereunder to
eligible employees of the Company and its Affiliates who perform services for Natural Resource
Partners L.P.; and

     WHEREAS, pursuant to Section 6(a) of the Plan, the Committee may amend the terms of the Plan;
and

     WHEREAS, the Committee desires to amend the Plan to provide that payments made to Employees
upon the vesting of Phantom Units be based on the average of the last reported sales price of the
Units on the New York Stock Exchange over the prior 20 Trading Days (as defined below);

     NOW, THEREFORE, Section 2 of the Plan is amended by deleting the current definition of Fair
Market Value and replacing it with the following definition, which shall read as follows:

     “Fair Market Value” means the average of the last reported sales prices for the 20
consecutive Trading Days before the date in question. The last reported sales price for each
day shall be the last reported sale price regular way on the New York Stock Exchange or any
other national securities exchange on which the Units are listed. In the event there is no
sale of Units on the New York Stock Exchange or any other national securities exchange on
which the Units are listed for the 20 consecutive Trading Days preceding such date, the
determination of fair market value shall be made in good faith by the Committee. As used
herein, the term “Trading Days” with respect to Units means if the Units are listed or
admitted for trading on the New York Stock Exchange or any national securities exchange,
days on which the New York Stock Exchange or such national securities exchange is open for
business.”

     All terms used herein that are defined in the Plan shall have the same meanings given to such
terms in the Plan, except as otherwise expressly provided herein.

     Except as amended and modified hereby, the Plan shall continue in full force and effect and
the Plan and this instrument shall be read, taken and construed as one and the same instrument.

     Executed this 8th day of December, 2004.

	 	 	 
	

	 	GP Natural Resource Partners LLC
	

	 	 
	

	 	By: /s/ Wyatt L. Hogan
	

	 	
 
	

	 	Name: Wyatt L. Hogan
	

	 	Title: Vice President and General Counselexv10waa

 

Exhibit 10 (aa)

Form of Agreement

THE WALT DISNEY COMPANY

Restricted Stock Unit Award Agreement (Time-Based Vesting)

This AWARD AGREEMENT (the “Agreement”) is between            (“Participant”)
and The Walt Disney Company (“Disney”), in connection with the Restricted Stock
Unit award granted to Participant on           , by the Compensation Committee
of the Board of Directors (the “Committee”) of Disney pursuant to the terms of
the Amended and Restated 1995 Stock Incentive Plan (the “Plan”). The
applicable terms of the Plan are incorporated herein by reference, including
the definitions of terms contained in the Plan.

Section 1. Restricted Award. Disney hereby grants to the Participant, on the
terms and conditions set forth herein, an Award of       “Restricted Stock
Units.” The Restricted Stock Units are notional units of measurement
denominated in shares of Common Stock (i.e., one Restricted Stock Unit is
equivalent in value to one share of Common Stock, subject to the terms hereof).
The Restricted Stock Units represent an unfunded, unsecured deferred
compensation obligation of Disney.

Section 2. Vesting Requirement. The Award shall become vested in two
installments as to an equal number of Restricted Stock Units on each of
           and            (each, a “Vesting Date”), provided the Participant
remains continuously employed by Disney or an Affiliate from the date hereof
until each such Vesting Date. If this service requirement is not satisfied,
the Award (or remaining unvested portion thereof) shall be immediately
forfeited. All Restricted Stock Units as to which the vesting requirement of
this Section 2 have been satisfied shall be payable in accordance with Section
5 hereof.

Section 3. Accelerated Vesting. Notwithstanding the foregoing, upon the
Participant’s death or disability (within the meaning of Section 409A of the
Internal Revenue Code), or upon the occurrence of a Triggering Event within the
12-month period following a Change in Control (in accordance with Section 11 of
the Plan as in effect on the date hereof), this Award shall become fully vested
and shall be payable in accordance with Section 5 hereof to the extent that it
has not previously been forfeited.

Section 4. Dividend Equivalents. Any dividend paid in cash on shares of the
Common Stock of Disney will be credited to the Participant as additional
Restricted Stock Units as if the Restricted Stock Units previously held by the
Participant were outstanding shares of Common Stock of Disney, as follows:
Such credit shall be made in whole and/or fractional Restricted Stock Units and
shall be, based on the fair market value (as defined in the Plan) of the shares
of Common Stock of Disney on the date of payment of any such dividend. All
such additional Restricted Stock Units shall be subject to the same vesting
requirements applicable to the previously held Restricted Stock Units in
respect of which they were credited and shall be awarded in accordance with
Section 5 hereof.

Section 5. Payment of Award. Payment of vested Restricted Stock Units shall be
made within 30 days following the satisfaction of the vesting requirement under
Section 2 hereof for each respective Vesting Date (or following accelerated
vesting under Section 3 hereof). The Restricted Stock Units shall be paid in
cash or in shares of Common Stock (or some combination thereof), as determined
by the Committee in its discretion at the time of payment, and in either case
shall be paid to the Participant after deduction of applicable minimum
statutory withholding taxes as determined by Disney.

Section 6. Restrictions on Transfer. Neither this Restricted Stock Unit Award
nor any Restricted Stock Units covered hereby may be sold, assigned,
transferred, encumbered, hypothecated or pledged by the Participant, other than
to Disney as a result of forfeiture of the units as provided herein.

 

 

Section 7. No Voting Rights. The Restricted Stock Units granted pursuant to
this Award, whether or not vested, will not confer any voting rights upon the
Participant, unless and until the Award is paid in shares of Common Stock.

Section 8. Award Subject to Plan. This Award is subject to the terms of the
Plan. In the event of a conflict or ambiguity between any term or provision
contained herein and a term or provision of the Plan, the Plan will govern and
prevail. The Restricted Stock Units constitute “phantom stock” for purposes of
the Plan.

Section 9. Changes in Capitalization. The Restricted Stock Units under this
Award shall be subject to the provisions of the Plan relating to adjustments
for changes in corporate capitalization.

Section 10. No Right of Employment. Nothing in this Award Agreement shall
confer upon the Participant any right to continue as an employee of Disney or
an Affiliate nor interfere in any way with the right of Disney or an Affiliate
to terminate the Participant’s employment at any time or to change the terms
and conditions of such employment.

Section 11. Governing Law. This Award Agreement shall be construed and
enforced in accordance with the laws of the State of Delaware, without giving
effect to the choice of law principles thereof.

	 	 	 	 	 	 	 
	THE WALT DISNEY COMPANY	 	PARTICIPANT
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 By:

	 	 	 	By:
	 	 
	

	 	
 
	 	 	 	
 
	 
	 	 	 	(Signature of Participant)

2exv10wbb

 

Exhibit 10 (bb)

Form of Agreement

THE WALT DISNEY COMPANY

Restricted Stock Unit Award Agreement (Bonus-Related)

This AWARD AGREEMENT (the “Agreement”) is between            (“Participant”)
and The Walt Disney Company (“Disney”), in connection with the Restricted Stock
Unit award granted to Participant on           , by the Compensation
Committee of the Board of Directors (the “Committee”) of Disney pursuant to the
terms of the 2002 Executive Performance Plan (the “Plan”) and the Amended and
Restated 1995 Stock Incentive Plan (the “Stock Plan”). (The Plan and the Stock
Plan are collectively referred to herein as the “Plans.”) The applicable terms
of the Plans are incorporated herein by reference, including the definitions of
terms contained in the Plans.

Section 1. Restricted Award. Disney hereby grants to the Participant, on the
terms and conditions set forth herein, an Award of            “Restricted
Stock Units.” These Restricted Stock Units represent [a portion] [all] of the
annual bonus awarded to Participant for fiscal year            pursuant to
Section 5 of the Plan. The Restricted Stock Units are notional units of
measurement denominated in shares of Common Stock (i.e., one Restricted Stock
Unit is equivalent in value to one share of Common Stock, subject to the terms
hereof). The Restricted Stock Units represent an unfunded, unsecured deferred
compensation obligation of Disney.

Section 2. Vesting Requirement. The Award shall become vested in two
installments as to an equal number of Restricted Stock Units on each of
           and            (each, a “Vesting Date”), provided the Participant
remains continuously employed by Disney or an Affiliate from the date hereof
until such Vesting Date. If this service requirement is not satisfied, the
Award (or remaining unvested portion thereof) shall be immediately forfeited.
All Restricted Stock Units as to which the vesting requirement of this Section
2 have been satisfied shall be payable in accordance with Section 5 hereof.

Section 3. Accelerated Vesting. Notwithstanding the foregoing, upon the
Participant’s death or disability (within the meaning of Section 409A of the
Internal Revenue Code), or upon the occurrence of a Triggering Event within the
12-month period following a Change in Control (in accordance with Section 11 of
the Stock Plan as in effect on the date hereof), this Award shall become fully
vested and shall be payable in accordance with Section 5 hereof to the extent
that it has not previously been forfeited. In addition, in the event of a
termination of any Participant’s employment by Disney (or an Affiliate) in
breach of any material provision of any employment agreement of Participant
(i.e., without “good cause”) or by Participant pursuant to any provision of his
or her employment agreement conferring upon Participant the right of early
termination of employment as a result of the failure of Disney (or an
Affiliate) to comply with any provision of Participant’s employment agreement
(i.e., for “good reason”), or if Participant shall not be subject to an
employment agreement with the Disney (or an Affiliate) and the employment of
Participant shall be terminated in a manner that does not constitute “good
cause” as such term is interpreted by the courts of the state in which
Participant is employed, then this Award shall become immediately and fully
vested and payable to Participant.

Section 4. Dividend Equivalents. Any dividend paid in cash on shares of the
Common Stock of Disney will be credited to the Participant as additional
Restricted Stock Units as if the Restricted Stock Units previously held by the
Participant were outstanding shares of Common Stock of Disney, as follows:
Such credit shall be made in whole and/or fractional Restricted Stock Units and
shall be, based on the fair market value (as defined in the Plan) of the shares of Common Stock of Disney on the
date of payment of any such dividend. All such additional Restricted Stock
Units shall be subject to the same vesting requirements applicable to the
previously held Restricted Stock Units in respect of which they were credited
and shall be payable in accordance with Section 5 hereof.

 

 

Section 5. Payment of Award. Payment of vested Restricted Stock Units shall be
made within 30 days following the satisfaction of the vesting requirement under
Section 2 hereof for each respective Vesting Date (or following accelerated
vesting under Section 3 hereof). The Restricted Stock Units shall be paid in
cash or in shares of Common Stock (or some combination thereof), as determined
by the Committee in its discretion at the time of payment, and in either case
shall be paid to the Participant after deduction of applicable minimum
statutory withholding taxes as determined by Disney.

Section 6. Restrictions on Transfer. Neither this Restricted Stock Unit Award
nor any Restricted Stock Units covered hereby may be sold, assigned,
transferred, encumbered, hypothecated or pledged by the Participant, other than
to Disney as a result of forfeiture of the units as provided herein.

Section 7. No Voting Rights. The Restricted Stock Units granted pursuant to
this Award, whether or not vested, will not confer any voting rights upon the
Participant, unless and until the Award is paid in shares of Common Stock.

Section 8. Award Subject to the Plans. This Award is subject to the terms of
the Plans. In the event of a conflict or ambiguity between any term or
provision contained herein and a term or provision of the Plans, the Plans will
govern and prevail. The Restricted Stock Units constitute “phantom stock” for
purposes of the Stock Plan.

Section 9. Changes in Capitalization. The Restricted Stock Units under this
Award shall be subject to the provisions of the Stock Plan relating to
adjustments for changes in corporate capitalization.

Section 10. No Right of Employment. Nothing in this Award Agreement shall
confer upon the Participant any right to continue as an employee of Disney or
an Affiliate nor interfere in any way with the right of Disney or an Affiliate
to terminate the Participant’s employment at any time or to change the terms
and conditions of such employment.

Section 11. Governing Law. This Award Agreement shall be construed and
enforced in accordance with the laws of the State of Delaware, without giving
effect to the choice of law principles thereof.

	 	 	 	 	 	 	 
	THE WALT DISNEY COMPANY	 	PARTICIPANT
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	By:

	 	 	 	By:	 	 
	

	 	
 
	 	 	 	
 
	 
	 	 	 	(Signature of Participant)

2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00075-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00075-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00075-of-00352.parquet"}]]