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Exhibit 10.19    
    

TEXAS ROADHOUSE, INC.

2004 EQUITY INCENTIVE PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT  

        Unless otherwise defined herein, the terms defined in the Texas Roadhouse, Inc. 2004 Equity Incentive Plan (the "Plan") will have the same defined meanings
in this Restricted Stock Unit Award Agreement (the "Agreement"). 

I.     NOTICE OF GRANT OF RESTRICTED STOCK UNITS  

        Pursuant to the Plan, Grantee has been granted Stock Bonus units (referred to as "Restricted Stock Units") which represent the right to receive shares of the
Class A common stock of the Company (the "Shares"), subject to satisfaction of the vesting provisions contained in this Agreement and the Restricted Stock Unit Grant Notice (the "Grant Notice")
(the form of which is attached hereto and incorporated herein as Exhibit "A") and to the other terms and conditions of the Plan, this Agreement and the Grant Notice. 

II.    AGREEMENT  

        1.    Grant of Restricted Stock Units.    The Company hereby grants to the Grantee, and the Grantee hereby accepts the
grant subject to the terms set out, the conditional right to receive one Share for each Restricted Stock Unit granted as set forth in the Grant Notice and subject to the terms and conditions of the
Plan, which is incorporated herein by reference. 

        2.    Termination of Continuous Service.    In the event the Grantee's Continuous Service terminates for any or no
reason (including death or Disability) prior to the Vesting Date, the right to receive Shares will be forfeited by Grantee. 

        3.    Transfer Prohibited.    Grantee may not assign, transfer, pledge or encumber in any way Grantee's right to
receive Shares hereunder. Any attempted transfer or assignment will be void. 

        4.    Issuance of Shares Upon Vesting.    Provided Grantee has been in Continuous Service from the Grant Date to the
Vesting Date, the Company will cause its transfer agent to issue in book entry the number of Shares granted to Grantee, less Shares withheld for withholding taxes under Section 7 below or
Shares withheld under Section 14 below, if any, to Grantee as of the Vesting Date. If the Vesting Date set forth in the Grant Notice is a Saturday, Sunday or legal or banking holiday, the
Vesting Date will be adjusted to be that date which is the next following business day. Grantee shall be considered the owner of the Shares for purposes of voting rights, dividends and taxation of the
Shares as of the Vesting Date. 

        5.    Adjustments.    Subject to the terms hereof, if, from time to time, there is (i) any stock dividend,
stock split or other change in the Shares, or (ii) any merger or sale of all or substantially all of the assets or other acquisition of the Company, or other similar corporate transaction or
event which affects the Shares, in each case, such that an adjustment is appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended by the Company with
respect to Restricted Stock Units granted hereunder, then the number of Restricted Stock Units granted hereunder shall automatically be proportionately adjusted by the Company so that benefits
hereunder are not enlarged or diminished. 

        6.    Assumption or Substitution on Change in Control.    Upon a Corporate Transaction that is a change in ownership
under Treasury Regulation Section 1.409A-3(i)(5)(v) (generally, a person or group acquires more than 50% of the total fair market value or voting power of stock) or that is a change
in ownership of assets under Section 1.409A3(i)(5)(vii) (generally, a sale of 40% or more of assets), the Company and the buyer(s) in such transaction may agree that the buyer will assume the
Award hereunder or substitute a similar award, and in that case, the Award or substituted award shall continue and be 

 

paid
(the Shares or substitute consideration shall be issued or paid) on the Vesting Date as if no Corporate Transaction had occurred, as permitted by Treasury Regulation
Section 1.409A-3(i)(5(iv)(B). Any substituted award from the buyer must provide for identical payment timing to this original Award as necessary to continue the short term deferral
exception from Code Section 409A. If the buyer in such transaction does not agree to assume or substitute the Award, the Award shall become 100% immediately vested 5 days prior to the
Corporate Transaction, and the Company may, in its discretion, pay the Restricted Stock Units at that time in cash rather than issuing Shares to Grantee. Such cash payment shall be equal to the fair
value of the Shares on the date they would otherwise be issued in accordance with the preceding sentence, as reflected by the transaction giving rise to a Corporate Transaction, or if such transaction
is not a sale of Shares, fair value as determined in good faith by the Company. 

        7.    Tax Consequences.    If Grantee is an employee of the Company or one of its subsidiaries on the Vesting Date,
the Company shall withhold Shares otherwise deliverable to Grantee with a Fair Market Value equal to the minimum required withholding taxes on the Restricted Stock Units from the Shares that would
otherwise be issued to Grantee, as determined by the Company in its reasonable discretion. The Company intends the Restricted Stock Units to be exempt from Internal Revenue Code Section 409A as
short term deferrals. Regardless of the Company's actions in this regard, Grantee hereby acknowledges and agrees that the ultimate liability for any and all taxes is and remains Grantee's
responsibility and liability and that the Company makes no representations or undertaking regarding tax treatment of the Restricted Stock Units or issuance of the Shares. 

        8.    No Guarantee of Continuous Service.    GRANTEE ACKNOWLEDGES AND AGREES THAT VESTING OF THE RESTRICTED STOCK
UNITS IS EARNED ONLY BY CONTINUOUS SERVICE AT THE WILL OF THE COMPANY. GRANTEE FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET
FORTH IN THE GRANT NOTICE DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED EMPLOYMENT OR SERVICE FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE WITH GRANTEE'S
RIGHT OR THE COMPANY'S RIGHT TO TERMINATE GRANTEE'S EMPLOYMENT OR SERVICE AT ANY TIME, WITH OR WITHOUT CAUSE. 

        9.    Notices.    Any notice, demand or request required or permitted to be given by either the Company or the Grantee
pursuant to the terms of this Agreement will be in writing and will be deemed given when delivered or when delivery is refused. Notices shall be either personally delivered, sent by overnight delivery
via a reputable carrier or mailed through the United States Postal Service, registered or certified with return receipt requested with postage prepaid, and addressed to the parties at the addresses of
the parties set forth at the end of this Agreement or such other address as a party may request by notifying the other in writing. Notwithstanding the foregoing, Grant Notices may be delivered
electronically. 

        10.    No Waiver.    Either party's failure to enforce any provision or provisions of this Agreement will not in any
way be construed as a waiver of any such provision or provisions, nor prevent that party from thereafter enforcing each and every other provision of this Agreement. The rights granted both parties
herein are cumulative and will not constitute a waiver of either party's right to asset all other legal remedies available to it under the circumstances. 

        11.    Successors and Assigns.    The Company may assign any of its rights under this Agreement to single or multiple
assignees, and this Agreement will inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Agreement will be binding upon
Grantee and his or her heirs, executors, administrators, successors and assigns. 

        12.    Interpretation.    Any dispute regarding the interpretation of this Agreement will be submitted by Grantee or
by the Company forthwith to the Compensation Committee of the Board of Directors of the Company (the "Committee") which will review such dispute at its next regular meeting. The resolution of such a
dispute by the Committee will be final and binding on all parties. 

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        13.    Governing Law; Severability.    This Agreement is governed by the internal substantive laws, but not the choice
of law rules, of the Commonwealth of Kentucky. 

        14.    Right to Withhold Amounts Owed to the Company.    The Company shall have the right to withhold Shares otherwise
deliverable to Grantee with a Fair Market Value equal to all amounts then due and owing by Grantee to the Company or any subsidiary or affiliate of the Company. 

        15.    Entire Agreement.    The Plan is incorporated herein by reference. This Agreement, the Grant Notice and the
Plan constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Grantee with
respect to the subject matter hereof, and may not be modified adversely to the Grantee's interest except by means of a writing signed by the Company and Grantee. 

        16.    Application to all Grant Notices and Awards.    Grantee agrees and acknowledges that all Restricted Stock Units
granted to Grantee from time to time under the Plan will be subject to the terms and conditions of this Agreement, the Plan and each Grant Notice received by Grantee from time to time, whether such
Grant Notice is transmitted via electronic transmission or otherwise. 

        IN
WITNESS WHEREOF, the parties have subscribed their names hereto. By Grantee's signature below, Grantee represents that he or she is familiar with the terms and provisions of the Plan,
and
hereby accepts this Agreement subject to all of the terms and provisions thereof. Grantee has reviewed the Plan and this Agreement in their entirety, has had an opportunity to obtain the advice of
counsel prior to executing this Agreement and fully understands all provisions of this Agreement. 

	 	 	 	TEXAS ROADHOUSE, INC.
	
Dated:	

 	
 	

By:	

 
	 	
	 	 	
 Scott M. Colosi
 Chief Financial Officer
	

 	

 	
 	

Address for Notices:
	 	 	 	Attention: Sheila C. Brown, Esq.
	 	 	 	6040 Dutchmans Lane, Suite 200
	 	 	 	Louisville, Kentucky 40205
	

 	

 	
 	

GRANTEE:
	

Dated:	

 	
 	

By:	

 
	 	
	 	 	
 [grantee name here]
	

 	

 	
 	

SSN:
	 	 	 	 	

	

 	

 	
 	

Address:
	 	 	 	

	 	 	 	

	 	 	 	

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EXHIBIT A

FORM OF GRANT NOTICE  

TEXAS ROADHOUSE, INC.

RESTRICTED STOCK UNIT GRANT NOTICE

(2004 EQUITY INCENTIVE PLAN)  

        TEXAS ROADHOUSE, INC. (the "Company"), pursuant to its 2004 Equity Incentive Plan (the "Plan"), hereby grants to Grantee the Restricted Stock Units set
forth below. This grant is subject to all of the terms and conditions as set forth herein and in the Restricted Stock Unit Award Agreement (the "Agreement") and the Plan, which Grantee has previously
received and are incorporated herein in their entirety. 

	 
	 	 

	 	Grantee:	 	

	 	Date of Grant:	 	

	 	Vesting Date:	 	

	 	Restricted Stock Units granted:	 	

        ADDITIONAL
TERMS/ACKNOWLEDGEMENTS: By receipt hereof, the Grantee acknowledges receipt of, and understands and agrees to, this Restricted Stock Unit Grant Notice (the "Grant Notice"),
the Agreement and the Plan. Grantee further acknowledges that as of the Date of Grant, this Grant Notice, the Agreement and the Plan set forth the entire understanding between Grantee and the Company
regarding the award of stock in the Company and supersede all prior oral and written agreements on that subject with the exception of (i) Restricted Stock Units previously granted and delivered
to Grantee under the Plan, and (ii) the following agreements only: 

	 
	 	 
	 	 
	 
	 

	 	 	 	OTHER AGREEMENTS:	 	
	 	 

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Exhibit 10.19Exhibit 10.26.1
1998 IMS Health Incorporated
Non-Employee Directors’ Deferred Compensation Plan
 
(As Amended And Restated Through February 13, 2007)
 
1.                       Purpose Of The Plan
The purpose of the Plan is to enhance the Company’s ability to attract and retain talented individuals to serve as members of the Board and to promote a greater alignment of interests between non-employee directors and the shareholders of the Company.
2.                       Definitions
The following capitalized terms used in the Plan have the respective meanings set forth in this Section:
(a)                  Act: The Securities Exchange Act of 1934, as amended, or any successor thereto.
(b)                 Annual Deferral Amount: As such term is defined in Section 5(a) of the Plan.
(c)                  Award: A Deferred Share Unit, Stock Option or Deferred Cash granted pursuant to the Plan.
(d)                 Beneficial Owner: As such term is defined in Rule 13d-3 under the Act (or any successor rule thereto).
(e)                  Board: The Board of Directors of the Company.
(f)                    Change in Control: The occurrence of any of the following events:
(i)                 any Person (other than the Company, any trustee or other  fiduciary holding securities under an employee benefit plan of  the Company, or any company owned, directly or indirectly, by the  stockholders of the Company in substantially the same proportions  as their ownership of stock of the Company), becomes the  Beneficial Owner, directly or indirectly, of securities of the  Company representing 20% or more of the combined voting power of  the Company’s then-outstanding securities;
(ii)              during any period of twenty-four months (not including any period  prior to the Effective Date), individuals who at the beginning of  such period constitute the Board, and any new director (other than  (A) a director nominated by a Person who has entered into an  agreement with the Company to effect a transaction described in  Sections 2(f)(i), (iii) or (iv) of the Plan, (B) a director  nominated by any Person (including the Company) who publicly  announces an intention to take or to consider taking actions  (including, but not limited to, an actual or threatened proxy  contest) which if consummated would constitute a Change in Control  or (C) a director nominated by any Person who is the Beneficial  Owner, directly or indirectly, of securities of the Company  representing 10% or more of the combined voting power of the  Company’s securities) whose election by the Board or 
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                            nomination for  election by the Company’s stockholders was approved in advance by a  vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the period or  whose election or nomination for election was previously so  approved, cease for any reason to constitute at least a majority  thereof;
(iii)           the stockholders of the Company approve any transaction or series of  transactions under which the Company is merged or consolidated with  any other company, other than a merger or consolidation (A) which  would result in the voting securities of the Company outstanding  immediately prior thereto continuing to represent (either by  remaining outstanding or by being converted into voting securities  of the surviving entity) more than 66 2/3% of the combined voting power of the voting securities of  the Company or such surviving entity outstanding immediately after  such merger or consolidation and (B) after which no Person holds  20% or more of the combined voting power of the then-outstanding  securities of the Company or such surviving entity; or
(iv)          the stockholders of the Company approve a plan of complete  liquidation of the Company or an agreement for the sale or  disposition by the Company of all or substantially all of the  Company’s assets.
(g)                 Code: The Internal Revenue Code of 1986, as amended, or any successor thereto.
(h)                 Cognizant: Cognizant Corporation, a Delaware corporation.
(i)                     Committee: The Compensation and Benefits Committee of the Board.
(j)                     Company: IMS Health Incorporated, a Delaware corporation.
(k)                  Deferred Cash: A bookkeeping entry credited in accordance with an election made by a Participant pursuant to Section 5 of the Plan.
(l)                     Deferred Share Unit: A bookkeeping entry, equivalent in value to one Share, credited in accordance with an election made by a Participant pursuant to Section 5 of the Plan.
(m)               Determination Date: As such term is defined in Section 6 of the Plan.
(n)                 Effective Date: The date on which the Plan takes effect, as defined pursuant to Section 13 of the Plan.
(o)                 Election Date: The date on which a Participant files an election with the Secretary of the Company pursuant to Section 5 of the Plan.
(p)                 Fair Market Value: On a given date, the arithmetic mean of the high and low prices of the Shares as reported on such date on the Composite Tape of the principal national securities exchange on which such Shares are listed or admitted to trading, or, if no Composite Tape exists for such national securities exchange on such date, then on the principal national securities exchange on which such Shares are listed or admitted to trading, or, if the Shares are not listed or admitted on a national securities exchange, the arithmetic mean of the per Share closing bid price and per 
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Share closing asked price on such date as quoted on the National Association of Securities Dealers Automated Quotation System (or such market in which such prices are regularly quoted), or, if there is no market on which the Shares are regularly quoted, the Fair Market Value shall be the value established by the Committee in good faith. If no sale of Shares shall have been reported on such Composite Tape or such national securities exchange on such date or quoted on the National Association of Securities Dealers Automated Quotation System on such date, then the immediately preceding date on which sales of the Shares have been so reported or quoted shall be used.
(q)                 First Trading Date: The first date on which the Shares are traded regular way on the principal national securities exchange on which such Shares are listed or admitted to trading.
(r)                    Participant: Any director of the Company who is not an employee of the Company or any Subsidiary of the Company (i) as of any Election Date and (ii) during any years of service covered by the election made on such Election Date.
(s)                  Person: As such term is used for purposes of Section 13(d) or 14(d) of the Act (or any successor section thereto).
(t)                    Plan: The 1998 IMS Health Incorporated Non-Employee Directors’ Deferred Compensation Plan, as amended and restated.
(u)                 Plan Interest Rate: The rate of interest per annum in effect and applicable to Deferred Cash, which in each calendar year shall equal 120% of the long-term “Applicable Federal Rate,” assuming annual compounding, as specified under Section 1274(d) of the Internal Revenue Code for the December immediately preceding such calendar year.  This interest rate provision shall be effective January 1, 2007 and thereafter.
(v)                 Shares: Shares of common stock, par value $0.01 per Share, of the Company.
(w)               Spinoff Date: The date on which the Shares that are owned by Cognizant are distributed to the holders of record of shares of Cognizant.
(x)                   Stock Option: A non-qualified stock option granted in accordance with an election made by a Participant pursuant to Section 5 of the Plan.
(y)                 Stock Option Value: The value assigned to a Stock Option to purchase one Share, for purposes of determining the number of Shares to be subject to a Stock Option granted in lieu of payment of an Annual Deferral Amount (or specified portion thereof) under Section 5(c).  The Stock Option Value shall be determined from time to time by the Committee, based on a reasonable valuation methodology selected by the Committee, and shall remain in effect until changed by the Committee.  Initially and until changed by the Committee, the Stock Option Value shall be deemed to be one-third of the Fair market Value of one Share on the date the Stock Option is granted.
(z)                   Subsidiary: A subsidiary corporation, as defined in Section 424(f) of the Code (or any successor section thereto).
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3.                       Administration
The Plan shall be administered by the Committee, which may delegate its duties and powers in whole or in part to any subcommittee thereof consisting solely of at least two “non-employee directors” within the meaning of Rule 16b-3 under the Act (or any successor rule thereto).  The Committee is authorized to interpret the Plan, to establish, amend and rescind any rules and regulations relating to the Plan, and to make any other determinations that it deems necessary or desirable for the administration of the Plan.  The Committee may correct any defect or supply any omission or reconcile any inconsistency in the Plan in the manner and to the extent the Committee deems necessary or desirable.  Any decision of the Committee in the interpretation and administration of the Plan, as described herein, shall lie within its sole and absolute discretion and shall be final, conclusive and binding on all parties concerned (including, but not limited to, Participants and their beneficiaries or successors).  The foregoing notwithstanding, the Board may exercise any power or perform any function of the Committee, in which case any applicable reference to “Committee” herein shall be deemed to refer to the Board.
From and after May 2, 2003, the Plan shall be deemed to be a subplan implementing the Company’s 1998 Non-Employee Directors’ Stock Incentive Plan (the “1998 NEDSIP”).  Accordingly, Deferred Share Units and Stock Options granted on or after that date shall be deemed to be awards governed by the 1998 NEDSIP, and any Shares delivered in connection with such Awards shall be drawn from the 1998 NEDSIP.
4.                    Eligibility
All Participants shall be eligible to participate under this Plan.
5.                    Voluntary Deferral Of Cash Compensation
A Participant may voluntarily elect to defer his or her cash compensation (including, but not limited to, annual retainer, board meeting fees, committee meeting fees and committee chairman fees) in the following manner:
(a)                         Method Of Election.  In order to make a voluntary election pursuant to the Plan, the Participant must complete and deliver to the Secretary of the Company a written election, not later than 30 days after the date on which he or she commences service as a director of the Company or, for deferrals to occur in subsequent years, not later than December 31 of the year preceding the subsequent year (or such earlier deadline as may be specified by the Company, provided that such deadline shall be established so as to ensure effective tax deferral by the Participant and conform to all applicable requirements of Code Section 409A), designating (i) the portion of his or her cash compensation for a year of service as a director that is to be deferred (the “Annual Deferral Amount”) and (ii) the portion of the Annual Deferral Amount that is to be deferred into (A) Deferred Share Units and/or (B) Stock Options and/or (C) Deferred Cash.  Such an election shall only be effective with respect to (i) the annual retainer and (ii) any other fees earned (in each case) after the date of the election.  Such election shall remain effective for all future years of service unless the Participant makes a new valid election in a subsequent year by the applicable deadline for such elections.  The foregoing notwithstanding, elections in 2005 pertaining to deferrals of compensation payable in 2005 after the filing of the election shall be deemed timely and valid if filed not later than March 15, 2005, provided that such an election (and this Plan) shall be subject
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to all of the requirements of  IRS Notice 2005-1, Q/A 21.  A Participant’s deferrals in 2005 prior to the effectiveness of any election referred to in the preceding sentence were governed by the irrevocable deferral election filed by the applicable deadline for such election in 2004, which election remained in effect until the anniversary (in 2005) of the normal commencement date for the Participant’s term as a director.
(b)                        Deferred Share Units.  If a Participant elects to defer his or her Annual Deferral Amount into Deferred Share Units, such Participant will have Deferred Share Units credited (as of each date on which his or her cash compensation would otherwise have been paid) to a Deferred Share Unit account maintained for him or her on the books of the Company.  The number of Deferred Share Units (including fractional Deferred Share Units) to be credited shall be determined by dividing (i) the amount of cash compensation to be deferred into Deferred Share Units by (ii) the Fair Market Value of one Share on the date credited.  Deferred Share Units, during such period as they are outstanding, shall be credited with dividend equivalents based on dividends paid on Shares. Dividend equivalents resulting from dividend payments prior to August 1, 2002 shall be converted into additional Deferred Share Units based on the Fair Market Value of Shares on the date credited.  From and after August 1, 2002, dividend equivalents relating to cash dividends paid prior to settlement of a Deferred Share Unit shall be calculated at the time of such settlement and credited and paid in cash at settlement, without interest; provided, however, that non-cash dividends and large, special and non-recurring cash dividends will be governed by Section 9 of the Plan.  Notwithstanding anything to the contrary in this Section 5(b), the Fair Market Value of one Share on any date prior to the First Trading Date shall be the Fair Market Value of one Share on the First Trading Date.
(c)                         Stock Options.  If a Participant elects to defer his or her Annual Deferral Amount into Stock Options, such Participant will receive a grant of a Stock Option as of each date on which his or her cash compensation would otherwise have been paid.  The number of Shares purchasable under the Option (rounded to the nearest whole Share) will be determined by dividing (i) the amount of cash compensation to be deferred into Stock Options by (ii) the Stock Option Value then in effect.  The Stock Option (i) will have an exercise price per Share equal to 100% of the Fair Market Value of a Share at the date of grant, (ii) will have a stated expiration date of seven years after the date of grant, (iii) will be non-forfeitable, and (iv) will become exercisable on the first anniversary of the date of grant.  The foregoing notwithstanding, the Stock Option will become exercisable immediately prior to a Change in Control or in the event of the termination of the Participant’s service as a director due to death or disability.  The foregoing notwithstanding, deferrals into Stock Options will not be permitted in 2005 and 2006, except upon receipt of advice satisfactory to the Company’s General Counsel, that such deferrals are permissible under and can be made in compliance (to the extent required) with Code Section 409A.
(d)                        Deferred Cash.  If a Participant makes a voluntary election to defer his or her Annual Deferral Amount into Deferred Cash, such Participant will have Deferred Cash credited, as of each date on which his or her cash compensation would otherwise have been paid, to a Deferred Cash account maintained for him or her on the books of the Company.  The amount of Deferred Cash to be credited shall equal the amount of cash compensation to be deferred into Deferred Cash.  A Participant’s account shall be credited with additional Deferred Cash equal to the
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amount of notional interest earned on the account, assuming that such interest is earned at the Plan Interest Rate and compounded on an annual basis.
6.                    Distributions Following Termination Of Board Service
All distributions will be made after termination of the Participant’s service as a director of the Company.  Any distribution of Deferred Share Units shall be in the form of whole Shares equal to the number of Deferred Share Units being distributed, with any fractional Shares distributable on the final distribution date to be paid in cash based on the Fair Market Value of a Share as of that distribution date.  Deferred Cash shall be distributed in cash.   A Participant may elect to have all or designated portions of his or her Deferred Share account and Deferred Cash account distributed as follows:
·                       As a lump sum on the first business day of the calendar year immediately following the date on which the Participant terminates service with the Company (the “Determination Date”);
·                       As a lump sum on the fifth anniversary of the Determination Date; or
·                       As annual installments payable commencing on the Determination Date, such number of installments not to exceed ten (any Shares distributable on a given date shall be rounded down to the nearest whole Share).
The Participant shall elect the distribution date for deferrals at the same time as he or she elects to participate in the Plan under Section 5(a), provided that, (i) if no valid election relating to distribution is on file, the Participant shall be deemed to have elected a lump sum distribution to be made on the Determination Date, and (ii), as to deferrals in 2006 and earlier (including all account balances in existence in 2006), a Participant may, in accordance with Proposed Treasury Regulation § 1.409A, Preamble § XI.C, elect a permitted form of distribution other than a lump sum on the Determination Date by filing an election during 2006 and prior to his or her termination of service as a director (distributions shall remain subject to Section 9(b), however).
7.                    Nontransferability Of Awards And Rights Under The Plan
Awards and related rights under the Plan shall not be transferable or assignable by the Participant otherwise than by will or by the laws of descent and distribution.  During the lifetime of a Participant, Awards shall be payable only to or exercisable only by such Participant.  Deferred Share Units and Deferred Cash payable after the death of a Participant may be paid to the legatees, personal representatives or distributees of the Participant, and a Stock Option may be transferred to and thereafter exercised by the legatees, personal representatives or distributees of the Participant after the Participant’s death.  The foregoing notwithstanding, the Committee may permit a transfer of Stock Options in connection with the Participant’s estate planning, subject to such terms and conditions as the Committee may specify.
8.                    Unfunded Plan
Unless otherwise determined by the Committee, the Plan shall be unfunded. To the extent any individual holds any rights by virtue of an Award granted under 
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the Plan, such rights (unless otherwise determined by the Committee) shall be no greater than the rights of an unsecured general creditor of the Company.
9.                       Adjustments Upon Certain Events
Notwithstanding any other provisions in the Plan to the contrary, the following provisions shall apply to Awards.
(a)                         Generally.  In the event of any change in the outstanding Shares after the Effective Date by reason of any Share dividend or split, reorganization, recapitalization, merger, consolidation, spin-off, combination or exchange of Shares or other corporate exchange, or any distribution to stockholders of Shares other than regular cash dividends, the Committee in its sole discretion and without liability to any person may make such substitution or adjustment, if any, as it deems to be equitable, as to any Deferred Share Units or Stock Options granted under the Plan., and shall make such adjustments to Deferred Share Units or Stock Options as it deems necessary or appropriate to preserve without enlarging the rights of each Participant with respect to his or her Award.
(b)                        Change In Control.  In the event of a Change in Control which constitutes (or involves related transactions which constitute) “a change in the ownership or effective control of the corporation, or in the ownership of a substantial portion of the assets of the corporation,” within the meaning of Proposed Treasury Regulation §§ 1.409A-3(a)(5) and (g)(5) (a “409A Change in Control”) and any successor thereto, Deferred Cash and Deferred Share Units shall be distributed in a lump sum not later than five business days after such Change in Control (and in the case of Deferred Share Units, such distribution shall be simultaneous with the 409A Change in Control if necessary to permit Participants to participate in a transaction that is related to the 409A Change in Control, such as a tender offer).
10.                 Successors And Assigns
The Plan shall be binding on all successors and assigns of the Company and a Participant, including without limitation, the estate of such Participant and the executor, administrator or trustee of such estate, or any receiver or trustee in bankruptcy or representative of the Participant’s creditors.
11.                 Amendments Or Termination
The Board may amend, alter or discontinue the Plan, but no amendment, alteration or discontinuation shall be made which would impair the rights of any Participant under any Awards theretofore granted without such Participant’s consent.  The Committee may act to amend, alter or discontinue the Plan, but only if the amendment or other action would not require shareholder approval and otherwise does not materially increase the cost of the Plan to the Company.
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12.                 Choice Of Law
The Plan shall be governed by and construed in accordance with the laws of the State of New York applicable to contracts made and to be performed in the State of New York.
13.                 Effectiveness Of The Plan And Amendment And Restatement Of The Plan
The Plan became effective as of the Spinoff Date.  The latest amendment and restatement of the Plan became effective February 13, 2007, and applies to all deferral accounts in existence in 2007 and later.  The amendment and restatement of the Plan that became effective January 27, 2006, applies to all deferral accounts in existence at that date and later.  The amendment and restatement of the Plan that became effective December 12, 2005 (the “2005 Restatement”) applies to all deferrals under the Plan in 2005 and later.  With respect to any deferral under the Plan prior to 2005, the terms of the Plan as in effect before the 2005 Restatement apply to such deferral, except that (i) the terms of Section 9(b) of the 2005 Restatement shall apply to such earlier deferrals as an exercise of the discretion conferred under Section 9(b) of the Plan as in effect prior to the 2005 Restatement, and (ii) the terms of the change to Section 3 of the Plan (relating to the 1998 NEDSIP) are effective as of May 2, 2003.
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