Document:

exv10w01

 

Exhibit 10.01

INTUIT INC.

MANAGEMENT STOCK PURCHASE PROGRAM

     1. ESTABLISHMENT OF PROGRAM; PURPOSE. The Intuit Inc. Management Stock Purchase Program (the
“MSPP”) was adopted by the Compensation and Organizational Development Committee of the Board on
October 24, 2006. The MSPP is intended to provide encouragement and assistance to certain key
employees of the Company in meeting the Company’s stock ownership guidelines by providing for the
opportunity to purchase and receive awards of Restricted Stock Units under Sections 6 and 9 of the
Intuit Inc. 2005 Equity Incentive Plan (the “Plan”). The MSPP is intended to be a part of the
Plan. All capitalized terms in the MSPP that are not defined herein shall have the meanings given
to them in the Plan. The MSPP is not meant to interpret, extend, or change the Plan in any way, or
to represent the full terms of the Plan. If there is any discrepancy, conflict or omission between
the MSPP and the provisions of the Plan, the provisions of the Plan shall apply.

     2. TAX COMPLIANCE. The MSPP is intended to comply with Section 409A of the Code and any
regulatory or other guidance issued under such section. At the time the Company adopted the MSPP,
the Department of Treasury had not yet issued final regulations under Section 409A of the Code. It
is the Company’s intention that any terms of the MSPP (and any Restricted Stock Units issued
pursuant to the MSPP) that conflict with such final regulations or other future guidance shall be
null and void and that any terms that are missing from the MSPP which such regulations and/or other
guidance would require the MSPP to contain in order to comply with the requirements of Section 409A
of the Code shall be incorporated into the MSPP. To that end, once the final regulations under
Section 409A are issued, the Committee shall be entitled to amend and otherwise conform on a
unilateral basis, the MSPP (and any Restricted Stock Units issued pursuant to the MSPP) to the
requirements of Section 409A of the Code and the regulations and other interpretive authority
promulgated thereunder.

     3. ELIGIBILITY AND PARTICIPATION.

          3.1 Eligibility. An employee of the Company shall be eligible to participate in the MSPP if
the employee is a member of a select group of management or highly compensated employees within the
meaning of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and is named
by the Committee or the Company’s Chief Executive Officer to be a participant in the MSPP (each
such employee who elects to defer bonus compensation pursuant to the MSPP is referred to herein a
“Participant”); provided however, that the Company’s Chief Executive Officer shall not be permitted
to participate in the MSPP. To be considered for participation in a year, the Participant must
have projected annualized base salary and target incentive compensation equal to at least $145,000
and be employed in the U.S., at a position at the director level or above. Notwithstanding the
foregoing, an employee who has participated in the MSPP as a director whose position has been
reduced to below that of director may be eligible to participate in the MSPP for the year in which
such reduction occurs provided he continues to have projected base salary and target incentive
compensation equal to at least $145,000.

          3.2 Participation. An eligible employee may elect to participate in the MSPP with respect to
any calendar year by submitting a participation agreement (in the form determined by the Company (a
“Participation Agreement”) to the Company, prior to the date established by the Company, in the
immediately preceding calendar year.

          3.3 Partial Year Participation. In the event that an employee first becomes eligible to
participate during a calendar year, a Participation Agreement must be submitted to the Company no
later than thirty (30) days following the employee first becoming eligible to participate in the
MSPP. Such Participation Agreement shall be effective only with regard to bonus compensation for
services to be performed subsequent to the receipt of the Participation Agreement by the Company.

     4. RESTRICTED STOCK UNIT AWARDS

          4.1 Bonus Deferral Commitment. A Participant may elect defer from 5% to 15% of his or her
annual bonus compensation (in increments of 1%), whether paid under the Company’s Performance
Incentive Plan or Senior Executive Incentive Plan (collectively, “Bonus Compensation”), in the
Participation Agreement (any amount

 

 

so elected to be deferred pursuant to the MSPP is referred to
herein as a “Bonus Deferral Commitment”). Deferrals of Bonus Compensation under the MSPP are
intended to conform to the requirements of Section 409A of the Code. The amount to be deferred
shall be stated as a percentage of any Bonus Compensation payable during the calendar year with
respect to which the deferral applies (the “Deferral Period”) from any Bonus Compensation payable
during the Deferral Period, or in such other form as allowed by the Committee consistent with the
requirements of Section 409A of the Code. Each Bonus Deferral Commitment shall be obtained by a
Participant in a time and manner that complies with Section 409A of the Code and any regulatory or
other guidance issued thereunder.

          4.2 Awards of Restricted Stock Units.

	 	(a)	 	Purchased Restricted Stock Units. On the date that amounts subject to a Bonus
Deferral Commitment hereunder would otherwise become payable (the “Purchase Date”), the
Company shall withhold such payment and instead award to the Participant on the
Purchase Date pursuant to Sections 6 and 9 of the Plan Restricted Stock Units
(“Purchased RSUs”) covering a number of Shares having an aggregate Fair Market Value on
the Purchase Date equal to the amount of the Bonus Compensation elected to be deferred
(rounded down to the nearest whole Share).
	 
	 	(b)	 	Matching Restricted Stock Units. In addition to the Purchased RSUs and subject
to the limitations set forth in Section 4.3(c) of this MSPP, on the Purchase Date, the
Company shall also award to the Participant pursuant to the Plan Restricted Stock Units
(“Matching RSUs”) covering a number of Shares equal to the number of Shares subject to
the Purchased RSUs awarded to the Participant on the Purchase Date pursuant to Section
4.2(a) of this MSPP.
	 
	 	(c)	 	Vesting. Unless otherwise provided for in the terms of an Award Agreement, all
Purchased RSUs shall be fully vested as of the applicable Purchase Date. Matching RSUs
shall vest as described in the applicable Award Agreement. All other terms and
conditions of the Purchased RSUs and the Matching RSUs shall be set forth either in an
applicable Award Agreement or in the Plan.
	 
	 	(d)	 	Employment Required. Notwithstanding anything herein to the contrary, a
Participant must be employed by the Company on the Purchase Date in order to receive an
award of Restricted Stock Units under the MSPP.

          4.3 Limitations on Bonus Deferral Commitments and Restricted Stock Unit Awards. The following
limitations shall apply to Bonus Deferral Commitments:

	 	(a)	 	Minimum and Maximum Deferral. The maximum deferral amount for a Bonus Deferral
Commitment must be between five percent (5%) and fifteen percent (15%) of any such
Bonus Compensation to be paid or payable during the Deferral Period.
	 
	 	(b)	 	Maximum Match. In addition to the limit set forth in Section 4.3(b) above, the
maximum number of Shares that may be subject to Matching RSUs that may be issued to a
Participant in respect of Purchased RSUs purchased in any one calendar year shall be as
follows:

	 	(1)	 	if the Participant is employed on the Purchase Date at the
Director level, 300 Shares;
	 
	 	(2)	 	if the Participant is employed on the Purchase Date at the Vice
President level, 750 Shares; and
	 
	 	(3)	 	if the Participant is employed on the Purchase Date at the
Senior Vice President level or above, 1,500 Shares.

	 	(c)	 	Changes in Limits. The Committee may amend the MSPP to change the maximum
limits set forth in this Section 4.3 (or implement new minimum or maximum limits) from
time to time by giving written notice to all Participants. No such change may affect a
Bonus Deferral Commitment made prior to the Committee’s action unless otherwise
required by law.

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          4.4 Modification of Bonus Deferral Commitment. A Bonus Deferral Commitment shall be
irrevocable except that the Committee shall permit a Participant to reduce the amount to be
deferred, or waive the remainder of the Bonus Deferral Commitment upon a finding that the
Participant has suffered an Unforeseeable Emergency (as defined under the Company’s Executive
Deferred Compensation Plan, as amended from time to time). If the Committee grants the
application, the Participant will not be allowed to enter into a new Bonus Deferral Commitment for
the remainder of the Deferral Period in which the reduction or waiver of the Bonus Deferral
Commitment occurs and the following Deferral Period. Any resumption of the Participant’s deferrals
under this Plan shall be made only at the election of the Participant in accordance with this
Section 4.

     5. RIGHTS OF PARTICIPANTS.

          5.1 Contractual Obligation. The MSPP shall create an unfunded, unsecured contractual
obligation on the part of the Company to make payments due under Restricted Stock Units.

          5.2 Unsecured Interest. No Participant or party claiming an interest in benefits of a
Participant hereunder shall have any interest whatsoever in any specific asset of the Company. To
the extent that any party acquires a right to receive payments under the MSPP, such right shall be
equivalent to that of an unsecured general creditor of the Company. Each Participant, by
participating hereunder, agrees to waive any priority creditor status with respect to any amounts
due hereunder. The Company shall have no duty to set aside or invest any amounts credited to
Restricted Stock Unit awards under the MSPP.

     6. AMENDMENTS AND TERMINATION. The Company reserves the right to amend, modify, or terminate
the MSPP (in whole or in part) at any time by action of the Board or the Committee, with or without
prior notice. Except as described below in this Section 6, no such amendment or termination shall
in any material manner adversely affect any Participant’s rights to any amounts already deferred or
credited hereunder or deemed earnings thereon, up to the point of amendment or termination, without
the consent of the Participant. Subject to the above provisions, the Board shall have broad
authority to amend the MSPP to take into account changes in applicable law, including but not
limited to securities and tax laws and accounting rules.

     7. CLAIMS PROCEDURE.

          7.1 Claim. The Committee shall establish rules and procedures to be followed by Participants
and their beneficiaries in (a) filing claims for benefits, and (b) for furnishing and verifying
proof necessary to establish the right to benefits in accordance with the MSPP, consistent with the
remainder of this Section 7. Such rules and procedures shall require that claims and proof be made
in writing and directed to the Committee.

          7.2 Review of Claim. The Committee or its designee shall review all claims for benefits. Upon
receipt by the Committee of such a claim, it shall determine all facts which are necessary to
establish the right of the claimant to benefits under the provisions of the MSPP and the amount
thereof as herein provided within ninety (90) days of receipt of such claim. If prior to the
expiration of the initial ninety (90) day period, the Committee determines additional time is
needed to come to a determination on the claim, the Committee shall provide written notice to the
Participant, Beneficiary or other claimant of the need for the extension, not to exceed a total of
one hundred eighty (180) days from the date the application was received.

          7.3 Notice of Denial of Claim. In the event that any Participant, beneficiary or other
claimant claims to be entitled to a benefit under the MSPP, and the Committee determines that such
claim should be denied, in whole or in part, the Committee shall, in writing, notify such claimant
that the claim has been denied, in whole or in part, setting forth the specific reasons for such
denial. Such notification shall be written in a manner reasonably expected to be understood by such
claimant, shall refer to the specific sections of the MSPP relied on, shall describe any additional
material or information necessary for the claimant to perfect the claim, shall provide an
explanation of why such
material or information is necessary, and, where appropriate, shall include an explanation of
how the claimant can obtain reconsideration of such denial.

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          7.4 Reconsideration of Denied Claim.

	 	(a)	 	Within sixty (60) days after receipt of the notice of the denial of a claim,
such claimant or duly authorized representative may request, by mailing or delivery of
such written notice to the Committee, a reconsideration by the Committee of the
decision denying the claim. If the claimant or duly authorized representative fails to
request such a reconsideration within such sixty (60) day period, it shall be
conclusively determined for all purposes of the MSPP that the denial of such claim by
the Committee is correct. If such claimant or duly authorized representative requests a
reconsideration within such sixty (60) day period, the claimant or duly authorized
representative shall have thirty (30) days after filing a request for reconsideration
to submit additional written material in support of the claim, review pertinent
documents, and submit issues and comments in writing.
	 
	 	(b)	 	After such reconsideration request, the Committee shall determine within sixty
(60) days of receipt of the claimant’s request for reconsideration whether such denial
of the claim was correct and shall notify such claimant in writing of its
determination. The written notice of the Committee’s decision shall be in writing and
shall include specific reasons for the decision, shall be written in a manner
reasonably calculated to be understood by the claimant, and shall identify specific
references to the pertinent Plan provisions on which the decision is based. In the
event of special circumstances determined by the Committee, the time for the Committee
to make a decision may be extended by an additional sixty (60) days upon written notice
to the claimant prior to the commencement of the extension.

          7.5 Employer to Supply Information. To enable the Committee to perform its duties, the Company
shall supply full and timely information to the Committee of all matters relating to the
retirement, Disability, death, or other cause for termination of employment of all Participants,
and such other pertinent facts as the Committee may require.

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Exhibit 10.02

Award No. «GrantNumber»

INTUIT INC. 2005 EQUITY INCENTIVE PLAN GRANT AGREEMENT

Restricted Stock Unit

(MSPP Purchased Award)

Intuit Inc., a Delaware corporation (the “Company”), hereby grants you a restricted stock unit
award (“Award”) pursuant to the Company’s 2005 Equity Incentive Plan (the “2005 Plan”) and the
Management Stock Purchase Program (the “MSPP”) adopted under the 2005 Plan, for the number of
shares of the Company’s Common Stock, $0.01 par value per share (“Common Stock”) set forth below.
All capitalized terms in this Grant Agreement (“Agreement”) that are not defined in this Agreement
have the meanings given to them in the MSPP or the 2005 Plan. This Award is subject to all of the
terms and conditions of the MSPP and the 2005 Plan, each of which is incorporated into this
Agreement by reference. This Agreement is not meant to interpret, extend, or change the MSPP or the
2005 Plan in any way, or to represent the full terms of the MSPP or the 2005 Plan. If there is any
discrepancy, conflict or omission between this Agreement and the provisions of either the MSPP or
the 2005 Plan, the provisions of the MSPP and/or the 2005 Plan, as applicable, shall apply.

Name of Participant:

Employee ID:

Address:

Number of Shares:

Date of Grant:

Settlement Date: [insert date three years from grant date]

This Award will be fully vested on the Date of Grant. This Award is being granted in respect of
your election to forgo the payment of cash bonus compensation equal to 100% of the Fair Market
Value of the of the Shares subject to this Award that would have otherwise become payable to you on
the Date of Grant.

	1.	 	Issuance of Shares under this Award: The Company will issue you the Shares subject
to this Award on the Settlement Date. In the event of your Termination prior to the
Settlement Date, the Settlement Date under this Agreement will be your Termination Date.
Until the date the shares are issued to you, you will have no rights as a stockholder of the
Company. Notwithstanding anything herein to the contrary, in the event that the Settlement
Date occurs as a result of your Termination for any reason other than death or “disability”
(as such term is defined under Section 409A of the Code), and the Company determines that as
of such Settlement Date you are a “specified employee” (as such term is defined under Section
409A of the Code), any Shares that would otherwise be issued to you on such Settlement Date
will not be issued to you until the date that is six months following the Termination Date (or
such earlier time permitted under Section 409A of the Code without the imposition of any
accelerated or additional taxes under Section 409A of the Code), or, if earlier, the original
Settlement Date set forth above.

	2.	 	Withholding Taxes: This Award is generally taxable for purposes of United States
federal income and employment taxes upon settlement based on the Fair Market Value on
Settlement Date. To the extent required by applicable federal, state or other law, you shall
make arrangements satisfactory to the Company for the payment and satisfaction of any income
tax, social security tax, payroll tax, payment on account or other tax related to withholding
obligations that arise under this Award and, if applicable, any sale of Shares of the Common
Stock. The Company shall not be required to issue shares of the Common Stock pursuant to this
Award or to recognize any purported transfer of shares of the Common Stock until such
obligations are satisfied. Unless otherwise agreed to by the Company and you, these
obligations will be satisfied by the Company withholding a number of shares of Common Stock
that would otherwise be issued under this Award that the Company determines has a Fair Market
Value sufficient to meet the tax withholding obligations. For purposes of this Award, Fair
Market Value is defined in Section 26(n) of the 2005 Plan.
	 
	 	 	You are ultimately liable and responsible for all taxes owed by you in connection with this
Award, regardless of any action the Company takes or any transaction pursuant to this section
with respect to any tax withholding obligations that arise in connection with this Award. The
Company makes no representation or undertaking

 

 

	 	 	regarding the treatment of any tax withholding in
connection with the grant, issuance, vesting or settlement of this Award or the subsequent sale
of any of the shares of Common Stock underlying the shares that vest. The Company does not
commit and is under no obligation to structure this Award to reduce or eliminate your tax
liability.

	3.	 	Disputes: Any question concerning the interpretation of this Agreement, any
adjustments to made thereunder, and any controversy that may arise under this Agreement, shall
be determined by the Committee in accordance with its authority under Section 4 of the 2005
Plan and Section 7 of the MSPP. Such decision by the Committee shall be final and binding.
	 
	4.	 	Other Matters:

	 	(a)	 	The Award granted to an employee in any one year, or at any time, does not
obligate the Company or any subsidiary or other affiliate of the Company to grant an
award in any future year or in any given amount and should not create an expectation
that the Company (or any subsidiary or other affiliate) might grant an award in any
future year or in any given amount.
	 
	 	(b)	 	Nothing contained in this Agreement creates or implies an employment contract
or term of employment or any promise of specific treatment upon which you may rely.
	 
	 	(c)	 	This Award is not part of your employment contract (if any) with the Company,
your salary, your normal or expected compensation, or other remuneration for any
purposes, including for purposes of computing benefits, severance pay or other
termination compensation or indemnity.
	 
	 	(d)	 	Because this Agreement relates to terms and conditions under which you may be
issued shares of Common Stock of Intuit Inc., a Delaware corporation, an essential term
of this Agreement is that it shall be governed by the laws of the State of Delaware,
without regard to choice of law principles of Delaware or other jurisdictions. Any
action, suit, or proceeding relating to this Agreement or the Award granted hereunder
shall be brought in the state or federal courts of competent jurisdiction in Santa
Clara County in the State of California.

This Agreement (including the MSPP and the 2005 Plan, which is incorporated by reference)
constitutes the entire agreement between you and the Company with respect to this Award, and
supersedes all prior agreements or promises with respect to the Award. Except as provided in the
MSPP and/or the 2005 Plan, this Agreement may be amended only by a written document signed by the
Company and you. Subject to the terms of the MSPP and the 2005 Plan, the Company may assign any of
its rights and obligations under this Agreement, and this Agreement shall be binding on, and inure
to the benefit of, the successors and assigns of the Company. Subject to the restrictions on
transfer of an Award described in Section 14 of the 2005 Plan, this Agreement shall be binding on
your permitted successors and assigns (including heirs, executors, administrators and legal
representatives). All notices required under this Agreement or the MSPP or the 2005 Plan must be
mailed or hand-delivered, (1) in the case of the Company, to the Company at its address set forth
in this Agreement, or at such other address designated in writing by the Company to you, and (2) in
the case of you, at the address recorded in the books and records of the Company as your then
current home address.

The Company has signed this Award Agreement effective as the Date of Grant.

	 	 	 	 	 
	 	 	INTUIT INC.
	 	 	2632 Marine Way
	 	 	Mountain View, California 94043
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Steve Bennett, Chief Executive Officer

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