Document:

Restricted Stock Unit Agreement (form of)

 Exhibit 10.2 
 RESTRICTED STOCK UNIT AGREEMENT 
 This Restricted Stock Unit Agreement (the
“Agreement”), dated as of [  ], 20    , between Unitil Corporation (the “Company”) and [  ], a director of the Company (the “Director”). 

WITNESSETH THAT: 
 WHEREAS, the Company maintains the Unitil Corporation Amended and Restated 2003 Stock Plan (the “Plan”); and 
 WHEREAS, the Nominating and Governance Committee (the “Committee”) of the Board of Directors of the Company has approved the grant of an Award of Restricted Stock Units to the Director upon the
terms and subject to the conditions of the Plan and this Agreement; 
 NOW, THEREFORE, IT IS AGREED, by and between the Company
and the Director as follows: 
 1. Definitions. Capitalized terms used herein but not defined shall have the meanings set
forth in the Plan. 
 2. Grant of Award. The Company hereby grants to the Director an Award of [  ] Restricted
Stock Units. The Restricted Stock Units are notional units of measurement denominated in Shares (i.e., one Restricted Stock Unit is equivalent in value to one Share), which represent an unfunded, unsecured obligation of the Company. The Award
granted hereby shall be subject to the terms and conditions set forth in this Agreement and the Plan, a copy of which the Grantee acknowledges having received. 
 3. Vesting. The Restricted Stock Units will be 100% vested at grant. 
 4.
Payment. The Restricted Stock Units will be settled by payment to the Director as soon as practicable (but in all events within 30 days) following the Director’s “separation from service” (as that term is used in Code
Section 1.409A)); provided, that in the event that the Director is a “specified employee” for purposes of Code Section 409A on the date of separation from service, payment with respect to the Restricted Stock Units will be made
on the first business date following the date that is six months after the date of such separation from service (or, if earlier than the end of such six-month period, the date of death of the Director). The Restricted Stock Units shall be paid 70%
in Shares (with one Share paid with respect to each Restricted Stock Unit) and 30% in cash (with such cash payment with respect to each Restricted Share Unit to be equal to the Fair Market Value of a Share on the date immediately prior to the
payment date). 
 5. Restrictions. The Director may not sell, assign, transfer, pledge or otherwise dispose of or
encumber any of the Restricted Stock Units, or any interest therein. Any purported sale, assignment, transfer, pledge or other disposition or encumbrance in violation of this Agreement will be void and of no effect. 

 6. Voting and Dividend Equivalents. Unless and until Shares are issued in accordance
with Section 4 hereof, the Director shall have no rights of a shareholder of the Company with respect to the Restricted Stock Units or the Shares underlying the Restricted Stock Units, including the right to vote the Restricted Stock Units or
the underlying Shares, or to receive dividends. Notwithstanding the foregoing, the Director will be entitled to receive Dividend Equivalents (which shall be converted to additional Restricted Stock Units, as described below) if any regular cash
dividends are paid on the Shares and the record date for such dividends occurs when the Restricted Stock Units are outstanding. The amount of Dividend Equivalents earned with respect to each Restricted Stock Unit shall be equal to the dividends (if
any) that would have been paid had each Restricted Stock Unit been an outstanding Share on the dividend record date. Dividend Equivalents shall only be earned with respect to regular cash dividends with record dates occurring while the Restricted
Stock Units are outstanding. Dividend Equivalents shall be converted to additional Restricted Stock Units (with such additional Restricted Stock Units subject to all of the terms and conditions of this Agreement and the Plan), with the number of
additional Restricted Stock Units determined by dividing (a) the aggregate Dividend Equivalents earned with respect to this Award on the dividend payment date by (b) the Fair Market Value of a Share on the dividend payment date.

 7. No Right to Directorship. Nothing in this Agreement shall confer upon the Director any right to continue to be a
Director of the Company or shall interfere with or restrict in any way the rights of the Company to terminate the Director’s service. 
 8. Amendments. This Agreement may be amended or supplemented at any time by the mutual written consent of the parties hereto. 

9. Governing Law. The laws of the State of New Hampshire shall govern the interpretation, validity and performance of the terms of
this Agreement regardless of the law that might be applied under principles of conflict of laws. 
 10. Successors and
Assigns. This Agreement shall be binding upon and inure to the benefit of the permitted successors, assigns and heirs of the respective parties. 
 11. Notices. All notices and other communications relating to this Agreement shall be written and shall be delivered personally or sent by registered or certified first-class mail, postage prepaid
and return receipt required, addressed as follows: if to the Company, to the Company’s executive offices at 6 Liberty Lane West, Hampton, NH 03842-1720, attention: Corporate Secretary, and if to the Director or his successor, to the address
last furnished by the Director to the Company. Each notice and communication shall be deemed to have been given when received by the Company or the Director. 
 12. No Waiver. The failure of a party to insist upon strict adherence to any term of this Agreement on any occasion shall not be considered a waiver thereof or deprive that party of the right
thereafter to insist upon strict adherence to that term or any other term of this Agreement. 

 13. Titles and Interpretation. Titles are provided herein for convenience only and
are not to serve as a basis for interpretation or construction of the Agreement. The masculine pronoun shall include the feminine and neuter and the singular shall include the plural, when the context so indicates. 

IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year first above written. 

 

			
	UNITIL CORPORATION
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	DIRECTOR
		
	By:	 	  

	Name:Restricted Stock Agreement (form of)

 Exhibit 10.3 
 RESTRICTED STOCK AGREEMENT 
 This Restricted Stock Agreement (the
“Agreement”), dated as of             , 20    , between Unitil Corporation (the “Company”) and
                    , an employee of the Company (the “Employee”). 

WITNESSETH THAT: 
 WHEREAS, the Company maintains the Unitil Corporation Amended and Restated 2003 Stock Plan (the “Plan”); and 
 WHEREAS, the Compensation Committee (the “Committee”) of the Board of Directors of the Company has approved the grant of an Award of Restricted Stock to the Employee upon the terms and subject
to the conditions of the Plan and this Agreement; 
 NOW, THEREFORE, IT IS AGREED, by and between the Company and the Employee
as follows: 
 1. Grant of Award. The Company hereby grants to the Employee an Award of
                     shares (the “Restricted Shares”) of the Company’s common stock, no par value (the “Shares”),
upon the terms and subject to the conditions set forth in this Agreement and the Plan. The Plan is hereby incorporated herein by reference as a part of this Agreement. 
 2. Representations of Employee. The Employee hereby (i) accepts the award of the Restricted Shares described in paragraph 1; (ii) agrees that the Restricted Shares will be held by him and his
successors subject to (and will not be disposed of except in accordance with) all of the restrictions, terms and conditions contained in this Agreement; (iii) represents that he is acquiring the Restricted Shares for investment and not with a
view to or for resale or distribution thereof; and (iv) agrees that any certificates issued for the Restricted Shares may bear the following legend or such other legend as the Company, from time to time, deems appropriate: 

“The transfer of the Shares represented by this certificate is restricted by the terms of a Restricted Stock Agreement dated as of
            , 20    , a copy of which is on file at the Company’s principal office; no transfer of the Shares represented by this certificate shall be
valid or effective until the conditions with respect to such transfer contained in the Agreement have been met.” 

 3. Vesting. 25% of the Restricted Shares shall become fully vested and nonforfeitable on
each of             , 20    ,             , 20    ,
            , 20    , and             , 20    , provided the
Employee still is, and since the date of this Agreement has continuously been, employed by the Company as of such dates. 
 4.
Restrictions. The Employee may not sell, assign, transfer, pledge or otherwise dispose of or encumber any of the Restricted Shares, or any interest therein, and the Restricted Shares shall be subject to forfeiture, until the Employee’s rights
in such Shares have vested in accordance with this Agreement (the period of time until the Restricted Shares have vested is referred to as the “Period of Restriction”). Any purported sale, assignment, transfer, pledge or other disposition
or encumbrance in violation of this Agreement will be void and of no effect. 
 5. Voting and Dividends. Except as provided in
this paragraph, with respect to the Restricted Shares, the Employee shall have all of the rights of a shareholder of the Company, including the right to vote the Restricted Shares during the Period of Restriction. Any cash dividends paid on any
Restricted Shares during the Period of Restriction shall not be contingent upon vesting of the Restricted Shares to which they relate. In the event any non-cash dividends or other distributions, whether in property, or stock of another company, are
paid on any Restricted Shares during the Period of Restriction, such non-cash dividends or other distributions payable to the Employee shall be retained by the Company and not delivered to the Employee until such time as the Period of Restriction on
the shares with respect to which such non-cash dividends or other distributions have been paid shall have lapsed and such shares become fully vested and not subject to forfeiture to the Company. Such non-cash dividends or distributions with respect
to the Restricted Shares shall be paid to the Employee upon the lapse of the restrictions or retained by the Company in the event the Restricted Shares on which such non-cash dividends or other distributions were paid are forfeited to the Company.
Any Shares issued pursuant to Section 4.2 of the Plan with respect to the Restricted Shares shall be treated as additional Restricted Shares and shall be subject to the same restrictions and other terms and conditions that apply with respect
to, and shall vest or be forfeited at the same time as, the Restricted Shares with respect to which such Shares are issued. 

6. Forfeiture. Upon termination of employment with the Company for any reason except death, retirement or Disability, the Employee shall
forfeit all unvested Restricted Shares, and shall not receive any compensation for such forfeited Restricted Shares. The Employee shall have no further rights as a shareholder of the Company with respect to the forfeited Restricted Shares,
including, without limitation, any right to receive any distribution payable to shareholders of record on or after the date of such forfeiture. 
 7. Registration and Stock Power. As soon as practicable after the date of this Agreement, the Company shall issue the Restricted Shares (in certificated or uncertificated form), which shall be registered
in the Employee’s name and shall bear whatever legend the Committee shall determine, including, but not limited to, the legend set forth in paragraph 2. The Employee shall execute appropriate stock powers in blank and such other documents as
the Company shall prescribe. 

  
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 8. Withholding and Notification of Section 83(b) Election. The Company shall have the
right to deduct or withhold, or require the Employee to remit to the Company, an amount in cash (or in Shares, subject to Section 14.2 of the Plan) sufficient to cover any tax, including any Federal, state or local income or employment tax,
required by to be withheld or otherwise deducted and paid with respect to such the Restricted Shares or the vesting thereof. The Employee agrees to notify the Company if he makes the election provided for in Section 83(b) of the Internal
Revenue Code of 1986, as amended, with respect to the Restricted Shares. 
 9. No Right to Employment. Nothing in this Agreement
shall confer upon the Employee any right to continue in the employ of the Company or shall interfere with or restrict in any way the rights of the Company to terminate the Employee’s employment. 

10. Amended. This Agreement may be amended or supplemented at any time by the mutual written consent of the parties hereto. 

11. Governing Law. The laws of the State of New Hampshire shall govern the interpretation, validity and performance of the terms of this
Agreement regardless of the law that might be applied under principles of conflict of laws. 
 12. Successors and Assigns. This
Agreement shall be binding upon and inure to the benefit of the successors, assigns and heirs of the respective parties. 
 13.
Notices. All notices and other communications required or permitted under this Agreement shall be written and shall be delivered personally or sent by registered or certified first-class mail, postage prepaid and return receipt required, addressed
as follows: if to the Company, to the Company’s executive offices at 6 Liberty Lane West, Hampton, NH 03842-1720, attention: Corporate Secretary, and if to the Employee or his successor, to the address last furnished by the Employee to the
Company. Each notice and communication shall be deemed to have been given when received by the Company or the Employee. 
 14.
No Waiver. The failure of a party to insist upon strict adherence to any term of this Agreement on any occasion shall not be considered a waiver thereof or deprive that party of the right thereafter to insist upon strict adherence to that term or
any other term of this Agreement. 
 15. Titles and Defined Terms. Titles are provided herein for convenience only and are not
to serve as a basis for interpretation or construction of the Agreement. The masculine pronoun shall include the feminine and neuter and the singular shall include the plural, when the context so indicates. Unless otherwise indicated herein, terms
with initial capital letters shall have the meanings given to them in the Plan. 
 IN WITNESS WHEREOF, the parties hereto have
duly executed this Agreement as of the day and year first above written. 

  
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	UNITIL CORPORATION
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	EMPLOYEE
		
	By:	 	  

	Name:	 	  

  
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