Document:

Exhibit 4.5

 

DASEKE, INC.

 

PERFORMANCE STOCK UNIT AWARD AGREEMENT

 

This PERFORMANCE
STOCK UNIT AWARD AGREEMENT (this “Agreement”), is made as of April 23, 2020 between Daseke, Inc. (the
 “Company”), and Jason Bates (the “Participant”). The grant of the performance-based
restricted stock units (the “PSUs”) under Section 1 hereof is intended to qualify as an “employment
inducement grant” under NASDAQ Listing Rule 5635(c)(4). The PSUs are being granted outside of the Company’s 2017
Omnibus Incentive Plan, as amended and restated (the “Plan”), but shall be subject to certain terms and
conditions of the Plan as specified herein. Capitalized terms used herein but not defined shall have the meanings set forth
in the Plan. For the purposes of this Agreement, the “Grant Date” shall be April 20, 2020, the effective
date of that certain Employment Agreement, between the Company and the Participant (the “Employment
Agreement”).

 

Section
1.                  
Performance Stock Units (PSUs)

 

(a)               
Grant. Subject to the terms and conditions set forth in this Agreement, the Company hereby grants to the Participant,
as of the Grant Date, 388,500 PSUs, subject to such vesting, transfer and other restrictions and conditions as set forth in this
Agreement (the “Award”). Each PSU represents the right to receive one Share, subject to the terms and conditions
set forth in this Agreement.

 

(b)               
Plan. The Award is granted outside of the Plan; provided, however, that this Agreement shall
be administered by the Committee and is otherwise subject in all respects to the following terms and provisions of the Plan: Section 1;
Section 2; Section 3; Section 4(b); Section 4(d); Section 8; Section 9; Section 12; Section 13;
Section 14; Section 15; Section 16; and Section 17, all of which terms and provisions are incorporated herein
by reference as a part of this Agreement. In the event of any conflict between the terms of this Agreement and the Plan, this Agreement
shall control.

 

Section
2.                  
Vesting Requirements.

 

(a)               
Generally. Except as otherwise provided herein, the Award shall be subject to both time- and performance-based
vesting conditions and shall only be deemed fully vested and exercisable when it has both time vested and performance vested in
accordance with the terms hereof.

 

     (i)                
The Award shall time-vest with respect to the total number of PSUs subject to the Award on the third anniversary
of the Grant Date (the “Vesting Date”, and such three-year period following the Grant Date, the “Performance
Period”), subject to the Participant’s continuous service or employment with the Company or an Affiliate (“Service”)
from the Grant Date through the Vesting Date.

 

     (ii)              
In the event that the Fair Market Value of a Share equals or exceeds the “Hurdle Price” (as defined
below) for any twenty (20) trading days out of thirty (30) consecutive trading days during the Performance Period, the Award shall
performance-vest with respect to the percentage of PSUs set forth across from such Hurdle Price in the following “Performance
Vesting Schedule”:

 

     

     

    

 

	
        Performance
        Vesting Schedule

	
        Hurdle
        Price
	 	
        Percentage
        of PSUs Vested*

	$4.00	 	33.33%
	$6.00	 	33.33%
	$9.00	 	33.34%

 

*Any resultant fractional PSU shall not become vested and instead shall be subject to the next vesting hurdle.

 

(b)               
Change in Control - No Replacement Award. Notwithstanding Section 2(a)(i) hereof, upon the occurrence
of a Change in Control, except to the extent that a Replacement Award (as such award is defined and determined under Section 13
of the Plan) is provided to the Participant in connection with the Change in Control to replace or adjust this outstanding Award,
100% of any then unvested PSUs granted hereunder shall immediately become time-vested; provided that the Participant remains
in continuous Service from the Grant Date through the occurrence of the Change in Control.

 

(c)               
Termination of Service Without Cause; Resignation for Good Reason; or Termination of Service Due to Death or
Disability. Notwithstanding Section 2(a)(i) hereof, in the event of the Participant’s termination of Service
(x) by the Company without Cause pursuant to that certain Employment Agreement, (y) by the Participant’s resignation for
Good Reason, or (z) due to the Participant’s death or Disability, the time-based vesting conditions related to these PSUs
shall be deemed to be satisfied as of the date of the Participant’s termination of employment and the achievement of all
relevant performance goals shall be determined by the actual level achievement of those goals, as determined in good faith by
the Compensation Committee at the time of Employee’s termination, measured against the attainment toward the Hurdle Prices
applicable to this PSU. Notwithstanding the foregoing, the Participant’s eligibility and entitlement to acceleration of
vesting described under this Section 2(c) is dependent upon the satisfaction of all conditions to receipt of severance
consideration pursuant to Section 6(f) of the Employment Agreement. For purposes of this Agreement, “Cause”
and “Good Reason” shall have the meanings set forth in the Employment Agreement.

 

(d)               
 Other Terminations of Service. Upon the occurrence of a termination of the Participant’s Service for
any reason other than as contemplated by Section 2(b) and Section 2(c) hereof, all outstanding and unvested PSUs
shall immediately be forfeited and cancelled, and the Participant shall not be entitled to any compensation or other amount with
respect thereto. Notwithstanding anything to the contrary herein, upon a termination of the Participant’s Service for Cause,
all PSUs, whether vested or unvested, shall immediately be forfeited and cancelled, and the Participant shall not be entitled to
any compensation or other amount with respect thereto.

 

Section
3.                  
Settlement. As soon as reasonably practicable following the Vesting Date, termination of service, or the
occurrence of the Change in Control that does not include the receipt of any Replacement Award by the Participant, as applicable
(and in any event within 60 days following the Vesting Date, termination of service, or the occurrence of the Change in Control
that does not include the receipt of any Replacement Award by the Participant, as applicable), any PSUs that become vested and
non-forfeitable pursuant to Section 2 hereof shall be paid by the Company delivering to the Participant a number of Shares
equal to the number of such PSUs.

 

Section
4.                   Restrictions
on Transfer. No PSUs (nor any interest therein) may be sold, assigned, alienated, pledged, attached or otherwise
transferred or encumbered by the Participant other than by will or by the laws of descent and distribution, and any such
purported sale, assignment, alienation, pledge, attachment, transfer or encumbrance shall be void and unenforceable against
the Company or any Affiliate; provided that the designation of a beneficiary shall not constitute a sale, assignment,
alienation, pledge, attachment, transfer or encumbrance. Notwithstanding the foregoing, at the discretion of the Committee,
PSUs may be transferred by the Participant solely to the Participant’s spouse, siblings, parents, children and
grandchildren or trusts for the benefit of such persons or partnerships, corporations, limited liability companies or other
entities owned solely by such persons, including, but not limited to, trusts for such persons.

 

    2

     

    

 

Section
5.                  
Adjustments. The Award granted hereunder shall be subject to the adjustment as provided in Section 4(b) of
the Plan.

 

Section
6.                  
No Right of Continued Service. Nothing in the Plan or this Agreement shall confer upon the Participant any
right to continued Service.

 

Section
7.                  
Tax Withholding. Unless determined otherwise by the Committee, the Company shall withhold from the Shares
to be issued to the Participant pursuant to Section 3 hereof the number of Shares (and any amount of cash) determined at
up to the maximum allowable rate in the Participant’s relevant tax jurisdiction on the Shares’ Fair Market Value at
the time such determination is made.

 

Section
8.                  
No Voting Rights as a Stockholder; Rights to Dividends or Other Distributions. The Participant shall not
have any voting privileges of a stockholder of the Company with respect to the Award unless and until Shares underlying the PSUs
are delivered to the Participant in accordance with Section 3 hereof.

 

Section
9.                  
Clawback. The Award shall be subject to recoupment in accordance with any existing clawback policy or clawback
policy that the Company is required to adopt pursuant to the listing standards of any national securities exchange or association
on which the Company’s securities are listed or as is otherwise required by applicable law. In addition, the Board may impose
such other clawback, recovery or recoupment provisions as the Board determines necessary or appropriate, including but not limited
to a reacquisition right in respect of previously acquired Shares or other cash or property upon the occurrence of Cause. The
implementation of any clawback policy shall not be deemed a triggering event for purposes of any definition of “constructive
termination.”

 

Section
10.              
Amendment and Termination. Subject to Section 12 of the Plan, any amendment to this Agreement shall be in
writing and signed by the parties hereto. Notwithstanding the immediately-preceding sentence, subject Section 12 of the Plan,
the Committee may waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate,
this Agreement and/or the Award; provided that, subject to Section 12 of the Plan, any such waiver, amendment, alteration,
suspension, discontinuance, cancellation or termination that would materially impair the rights of the Participant or any holder
or beneficiary of the Award shall not be effective without the written consent of the Participant, holder or beneficiary.

 

Section
11.              
Securities Law Requirements. Notwithstanding any other provision of this Agreement, the Company shall have
no liability to make any distribution of Shares under this Agreement unless such delivery or distribution would comply with all
applicable laws. In particular, no Shares shall be delivered to a Participant unless, at the time of delivery, the shares qualify
for exemption from, or are registered pursuant to, applicable federal and state securities laws.

 

Section
12.               Construction.
The Participant hereby acknowledges that a copy of the Plan has been delivered to the Participant and accepts the Award
hereunder subject to all terms and provisions of this Agreement. The construction of and decisions under this Agreement are
vested in the Committee, whose determinations shall be final, conclusive and binding upon the Participant.

 

    3

     

    

 

Section
13.              
Governing Law. This 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.

 

Section
14.              
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed to be an original
but all of which together shall constitute one and the same instrument.

 

Section
15.              
Binding Effect. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their
respective heirs, executors, administrators, successors and assigns.

 

Section
16.              
Entire Agreement. This Agreement constitutes the entire agreement between the parties with respect to the
subject matter hereof and thereof.

 

[SIGNATURES ON FOLLOWING PAGE]

 

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement
effective as of the Grant Date.

 

	 	DASEKE, INC.
	 	By:	 
	 	Name:  	Chris Easter
	 	Title:	CEO
	 	 	 
	 	PARTICIPANT
	 	 
	 	Participant’s
    Signature              Date
	 	Name:	 Jason Bates
	 	Address:EX-10.1

 Exhibit 10.1

 
 THIRD ADDENDUM TO
AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 
 THIS THIRD ADDENDUM to the Amended and Restated Employment Agreement (as amended, the
“Agreement”) that was effective as of January 1, 2008, as amended on February 25, 2010, June 22, 2018 and December 29, 2018, among David A. Brandon (the “Executive”) and Domino’s Pizza, Inc. (the
“Company”), Domino’s, Inc. (“DI”) and Domino’s Pizza LLC (“DPLLC” and together with DI, the “Principal Subsidiaries”) is executed among the Company, the
Principal Subsidiaries and the Executive, and is effective as of January 30, 2020 (this “Addendum”).
  

Recitals
  

WHEREAS, the parties desire to amend certain obligations contained in the Employment Agreement as set forth herein;

 
 NOW THEREFORE, in consideration of the premises and mutual agreements set forth herein, and in the Agreement,
the parties hereto agree as follows. 
  
 Addendum

 
 1. The defined terms set forth in the Agreement and Recitals above are incorporated by reference in this Addendum.

 
 2. Appendix A is hereby deleted in its entirety and replaced with the following:
  

The Payment described in Section 4.5.3 of the Employment Agreement will be based on the annual cost of (a) Medicare supplemental coverage (inclusive of Part B premiums) elected by the Executive,
(b) individual market coverage (for clarification purposes, this shall include medical insurance coverage, prescription medicine coverage, dental insurance coverage and vision insurance coverage) elected by the Executive’s spouse, and once she
becomes Medicare-eligible, the cost of her Medicare supplemental coverage, (c) the cost of the annual membership fee to join a physician group, described at times as “concierge medicine” or “membership medicine,” (d)
seventy-five percent (75%) of the out-of-pocket costs not covered by the policies contemplated under (a) and (b) (including but not limited to deductibles, copayments and coinsurance for those items covered by a medical, prescription drug, dental or
vision plan) as well as other health care expenses for services that are medically necessary but are excluded from coverage by the individual market plan or by Medicare (inclusive of medical, prescription drug, dental or vision expenses) (for the
avoidance of doubt, the Executive or Executive’s spouse shall pay the remaining twenty-five percent (25%) of such costs), and (e) the cost of any third-party resource retained by the Executive and/or the Executive’s spouse to assist them
in reviewing, evaluating and securing such healthcare coverage and to manage payments and act as advocates on claims for the Executive and/or the Executive’s spouse; provided, that in no event shall the amount of the Payment by the Company
exceed $150,000 per year, subject to the increase for inflation described below. For item (d) above, health care expenses that are excluded from coverage by the individual market plan or by Medicare should be substantiated with an explanation of
benefits (EOB) or other document from the insurer stating the expense is not covered under the terms of the applicable plan, where possible without negative impact to the Executive or spouse. Starting for calendar 2023, such $150,000 Payment limit
shall be increased automatically by three percent (3%) once for every five (5) year period that the Payment is in effect for the Executive and/or the Executive’s Spouse.
  

	
	
	
	

  
 By October 15th of each year, the Executive and/or his spouse shall notify the Company of the
coverage they have elected for the following year or request the assistance of the Company resource in choosing such coverage. The Company will then make the payment of the Payment in two installments. The first installment, which will equal to the
annual cost of the items described in subsections (a), (b), (c) and (e) above, will be made by February 1st of each year, provided that the Executive and/or his spouse have provided documentation of such expenses by January
10th of that year. If receipt of such documentation is delayed, the first installment of the Payment will be equally delayed. The second installment of the Payment will cover any expenses covered under subsection (d) above and will be
paid by the Company on or before December 31st of each year provided that the Executive or his spouse has delivered supporting documentation (including an Explanation of Benefits from Medicare or the individual market coverage as well as
the document showing the substantiation described above) of such expenses on or before December 1st of that year. Again, if receipt of such documentation is delayed, the second installment of the Payment will be equally delayed. The Company will
issue a Form 1099 to the Executive and/or his spouse on an annual basis covering the Payment made during each calendar year.
  
 Receipt of the
Payment is not conditioned on the Executive and his spouse agreeing to use the Payment to purchase health insurance or certifying or substantiating that they have done so. The amount of the Payment for any year shall not affect the amount of the
Payment for a subsequent year, and the right to payment of the Payment shall not be subject to liquidation or exchange for any other benefit.
  
 3. Any
provisions in the Agreement not revised herein shall remain in full force and effect.
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 
 
	
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 IN WITNESS WHEREOF, this Addendum has been executed on behalf of the Company and the Principal Subsidiaries by
their respective duly authorized representatives and by the Executive, as of the date first above written.
  
   

	THE COMPANY:	DOMINO’S PIZZA, INC.	
	 	 	 	 
		By:	/s/ Richard E. Allison, Jr.	
	  
	 Name: Richard E. Allison, Jr. 
	 
	 	Title: Chief Executive Officer	 

   

	PRINCIPAL SUBSIDIARIES:	DOMINO’S, INC.	
	 	 	 	 
		By:	/s/ Richard E. Allison, Jr.	
	  
	 Name: Richard E. Allison, Jr.
	 
	 	Title: Chief Executive Officer	 

   

	 	DOMINO’S PIZZA LLC	
	 	 	 	 
		By:	/s/ Richard E. Allison, Jr	
	  
	 Name: Richard E. Allison, Jr.
	 
	 	Title: Chief Executive Officer	 

	 	 	 	 
	THE EXECUTIVE:	By:	/s/ David A. Brandon	
	  
	 Name: David A. Brandon
	 

  
 
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