Document:

exv10w21

Exhibit 10.21

DOLE FOOD COMPANY, INC.

GRANT NOTICE FOR 2009 STOCK INCENTIVE PLAN

RESTRICTED STOCK

FOR GOOD AND VALUABLE CONSIDERATION, Dole Food Company, Inc. (the “Company”), hereby grants to
Participant named below the number of restricted shares of the Company’s common stock, par value
$0.001 (the “Common Stock”) specified below (the “Award”), upon the terms and subject to the
conditions set forth in this Grant Notice, the Dole Food Company, Inc. 2009 Stock Incentive Plan
(the “Plan”) and the Standard Terms and Conditions (the “Standard Terms and Conditions”) adopted
under such Plan and provided to Participant, each as amended from time to time. This Award is
granted pursuant to the Plan and is subject to and qualified in its entirety by the Standard Terms
and Conditions.

	 	 	 	 	 	 
	 	Name of Participant:

	 	 	 	 
	 	Grant Date:
	 	 	 	 
	 	Number of shares of restricted stock:
	 	 	 	 
	 	Vesting Schedule:
	 	 	 	 
	 

By accepting this Grant Notice, Participant acknowledges that he or she has received and read, and
agrees that this Award shall be subject to, the terms of this Grant Notice, the Plan and the
Standard Terms and Conditions.

	 	 	 	 	 
	DOLE FOOD COMPANY, INC.	 	 
	 

	 	 	 	 
	 

	 	 	 	Participant Signature
	By
	 	 	 	 
	Title:

	 	 

	 	Address (please print):
	 

	 	 

	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 

 

 

DOLE FOOD COMPANY, INC.

STANDARD TERMS AND CONDITIONS FOR

RESTRICTED STOCK

These Standard Terms and Conditions apply to the Award of restricted stock granted pursuant to
the Dole Food Company, Inc. 2009 Stock Incentive Plan (the “Plan”), which are evidenced by a Grant
Notice or an action of the Administrator that specifically refers to these Standard Terms and
Conditions. In addition to these Terms and Conditions, the restricted stock shall be subject to
the terms of the Plan, which are incorporated into these Standard Terms and Conditions by this
reference. Capitalized terms not otherwise defined herein shall have the meaning set forth in the
Plan.

	1.	 	TERMS OF RESTRICTED STOCK
	 
	 	 	Dole Food Company, Inc., a Delaware corporation (the “Company”), has granted to the
Participant named in the Grant Notice provided to said Participant herewith (the “Grant
Notice”) an award of a number of restricted shares (the “Award” or the “Restricted Stock”)
of the Company’s common stock, par value $0.001 (the “Common Stock”) specified in the Grant
Notice. The Award is subject to the conditions set forth in the Grant Notice, these
Standard Terms and Conditions, and the Plan, each as amended from time to time. For
purposes of these Standard Terms and Conditions and the Grant Notice, any reference to the
Company shall include a reference to any Subsidiary.

	2.	 	VESTING OF RESTRICTED STOCK
	 
	 	 	The Award shall not be vested as of the Grant Date set forth in the Grant Notice and shall
be forfeitable unless and until otherwise vested pursuant to the terms of the Grant Notice
and these Standard Terms and Conditions. After the Grant Date, subject to termination or
acceleration as provided in these Standard Terms and Conditions and the Plan, the Award
shall become vested as described in the Grant Notice with respect to that number of shares
of Restricted Stock as set forth in the Grant Notice. Shares of Restricted Stock that have
vested and are no longer subject to forfeiture are referred to herein as “Vested Shares.”
Shares of Restricted Stock awarded hereunder that are not vested and remain subject to
forfeiture are referred to herein as “Unvested Shares.” In the event of the Participant’s
Termination of Employment either (i) by the Company without Cause or (ii) by reason of the
Participant’s death or Disability, all then Unvested Shares shall be deemed to vest in full
immediately prior to such Termination of Employment. Upon the Participant’s Termination of
Employment by the Company for Cause or by the Participant for any reason (including
Retirement), any then Unvested Shares (after taking into account any accelerated vesting
under Section 12 of the Plan or any other agreement between the Participant and the Company
(including any accelerated vesting to which the Participant is entitled in the event of a
“Qualified Termination” under a Change of Control Agreement between the Participant and the
Company), if applicable) held by the Participant shall be forfeited and canceled as of the
date of such Termination of Employment.

 

 

	3.	 	RIGHTS AS STOCKHOLDER
	 
	 	 	From and after the Grant Date, the Participant shall have all of the ownership, voting
rights, dividend rights and all other rights of a stockholder of the Company with respect to
the Restricted Stock, except that such rights as to Unvested Shares shall terminate upon the
forfeiture of such Unvested Shares as and to the extent specifically provided in Section 2
above.
	 
	4.	 	RESTRICTIONS ON RESALES OF SHARES
	 
	 	 	The Company may impose such restrictions, conditions or limitations as it determines
appropriate as to the timing and manner of any resales by the Participant or other
subsequent transfers by the Participant of any Vested Shares, including without limitation
(a) restrictions under an insider trading policy, (b) restrictions designed to delay and/or
coordinate the timing and manner of sales by Participant and other holders and (c)
restrictions as to the use of a specified brokerage firm for such resales or other
transfers.
	 
	5.	 	INCOME TAXES
	 
	 	 	To the extent required by applicable federal, state, local or foreign law, the Participant
shall make arrangements satisfactory to the Company for the satisfaction of any withholding
tax obligations that arise by reason of the grant or vesting of the Restricted Stock. The
Company shall not be required to issue shares or to recognize the disposition of such shares
until such obligations are satisfied. Unless the Participant pays the withholding tax
obligations to the Company by cash or check, withholding may be effected, at the Company’s
option, by withholding Common Stock issuable in connection with the Award (provided that
            shares of Common Stock may be withheld only to the extent that such withholding will not
result in adverse accounting treatment for the Company). The Participant acknowledges that
the Company shall have the right to deduct any taxes required to be withheld by law in
connection with the Award from any amounts payable by it to the Participant (including,
without limitation, future cash wages).
	 
	6.	 	NON-TRANSFERABILITY OF UNVESTED SHARES
	 
	 	 	The Participant represents and warrants that the shares of Restricted Stock are being
acquired by the Participant solely for the Participant’s own account for investment and not
with a view to or for sale in connection with any distribution thereof. The Participant
further understands, acknowledges and agrees that, except as otherwise provided in the Plan
or as permitted by the Administrator, the Unvested Shares may not be sold, assigned,
transferred, pledged or otherwise directly or indirectly encumbered or disposed of.
	 
	7.	 	OTHER AGREEMENTS SUPERSEDED
	 
	 	 	The Grant Notice, these Standard Terms and Conditions and the Plan constitute the entire
understanding between the Participant and the Company regarding the Restricted Stock.

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	 	 	Any prior agreements, commitments or negotiations concerning the Restricted Stock are
superseded.
	 
	8.	 	LIMITATION OF INTEREST IN SHARES SUBJECT TO RESTRICTED STOCK
	 
	 	 	Neither the Participant (individually or as a member of a group) nor any beneficiary or
other person claiming under or through the Participant shall have any right, title,
interest, or privilege in or to any shares of Common Stock allocated or reserved for the
purpose of the Plan or subject to the Grant Notice or these Standard Terms and Conditions
except as to such shares of Common Stock, if any, as shall have been issued to such person
in connection with the Award. Nothing in the Plan, in the Grant Notice, these Standard
Terms and Conditions or any other instrument executed pursuant to the Plan shall confer upon
the Participant any right to continue in the Company’s employ or service nor limit in any
way the Company’s right to terminate the Participant’s employment at any time for any
reason.
	 
	9.	 	GENERAL
	 
	 	 	In the event that any provision of these Standard Terms and Conditions is declared to be
illegal, invalid or otherwise unenforceable by a court of competent jurisdiction, such
provision shall be reformed, if possible, to the extent necessary to render it legal, valid
and enforceable, or otherwise deleted, and the remainder of these Standard Terms and
Conditions shall not be affected except to the extent necessary to reform or delete such
illegal, invalid or unenforceable provision.
	 
	 	 	The headings preceding the text of the sections hereof are inserted solely for convenience
of reference, and shall not constitute a part of these Standard Terms and Conditions, nor
shall they affect its meaning, construction or effect.
	 
	 	 	These Standard Terms and Conditions shall inure to the benefit of and be binding upon the
parties hereto and their respective permitted heirs, beneficiaries, successors and assigns.
	 
	 	 	These Standard Terms and Conditions shall be construed in accordance with and governed by
the laws of the State of Delaware, without regard to principles of conflicts of law.
	 
	 	 	In the event of any conflict between the Grant Notice, these Standard Terms and Conditions
and the Plan, the Grant Notice and these Standard Terms and Conditions shall control. In
the event of any conflict between the Grant Notice and these Standard Terms and Conditions,
the Grant Notice shall control.
	 
	 	 	All questions arising under the Plan or under these Standard Terms and Conditions shall be
decided by the Administrator in its total and absolute discretion.

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	10.	 	ELECTRONIC DELIVERY
	 
	 	 	By executing the Grant Notice, the Participant hereby consents to the delivery of
information (including, without limitation, information required to be delivered to the
Participant pursuant to applicable securities laws) regarding the Company and the
Subsidiaries, the Plan, and the Restricted Stock via Company web site or other electronic
delivery.

5Exhibit 4.1

Exhibit 4.1

AMENDMENT TO 

PROMISSORY NOTE

THIS AMENDMENT TO PROMISSORY NOTE (the “Amendment”) is made and entered into as of March 19,
2010 by and between Supplemental Manufacturing & Ingredients, LLC, an Arizona limited liability
company (“Obligor”) and HealthSport, Inc. a Delaware corporation (“Holder”), holder of that certain
Promissory Note executed by Obligor dated as of December 1, 2009 in the original principal amount
of Eight Million Dollars (US$8,000,000)(the “Note”).

RECITALS

WHEREAS, Obligor has purchased stock in Holder pursuant to that certain Stock Purchase
Agreement dated November 6, 2009 by and between the parties (the “Stock Purchase”). In connection
therewith, Obligor and Holder executed the Note (of which $500,000 in principal has already been
paid), as well as that certain Stock Pledge Agreement dated as of December 1, 2009 (the “Pledge”)
and that certain Escrow Agreement dated as of December 1, 2009 (collectively, all such documents,
the “Stock Purchase Documents”);

WHEREAS, in connection with the execution of Amendments to each of the Stock Purchase
Agreement and the Pledge of even date herewith, Obligor and Holder desire to amend the terms of the
Note as set forth herein;

NOW, THEREFORE, in consideration of the covenants set forth herein, and for other good and
valuable consideration, intending to be legally bound hereby, the parties agree as follows:

1. Definitions. Capitalized terms not otherwise defined in this Amendment shall
have the respective meanings ascribed to them in the Note.

2. Payments. Section 2 of the Note is hereby amended and restated in its entirety as
follows:

Section 2. Payments. Principal payments, together with all accrued and
unpaid interest shall be payable as follows:

	 	a)	 	$500,000 on or before November 15, 2009;

	 	b)	 	$2,050,000 on or before May 15, 2010, subject to Section 2A below;

	 	c)	 	$2,500,000 on or before July 15, 2010; and

	 	d)	 	$2,950,000 on or before September 15, 2010

All remaining principal and interest shall be due and payable on September 15, 2010
(the “Maturity Date”). Obligor shall have the right to prepay all or any portion of
this Note at any time or from time to time prior to the Maturity Date. All payments
pursuant to this Note shall be paid in lawful money of the United
States at the principal office of Holder or at such other place as Holder may
designate in writing.

 

 

 

3. Prepayment Obligation. The following is hereby added as Section 2A to the
Note:

Section 2A. Prepayment Obligation.

a. Until such time as Obligor makes the payment set forth above under Section 2.b)(the
“May Payment”), in the event Holder has insufficient funds to pay any of its obligations as
the same may become due and payable, subject to the maximum amounts set forth in Section
2A.b. below,Obligor shall make pre-payment(s) of the May Payment in such amounts such that
Holder shall be able to satisfy the following obligations as the same become due and
payable:

(i) All financial obligations of Holder incurred in the ordinary course of business
from and after the date of this Amendment,

(ii) Subject to Obligor’s right to negotiate and settle Company obligations pursuant
to Section 16 of the Stock Purchase Agreement, as amended, all financial obligations
of Holder resulting from the items set forth in Exhibit A hereto, and

(iii) All payments, costs and expenses related to the design, build-out and
construction (the “Oxnard Plant Improvements”) of Holder’s cGMP manufacturing
facility in Oxnard, California pursuant to the contract to be executed by the
Company with its licensed contractor for the same which shall include a reasonable
construction timeline and shall be approved and authorized by unanimous consent of
the Holder’s Board of Directors (the “Construction Contract”). Notwithstanding the
foregoing in this Section 2Aa.(iii), Obligor shall make the minimum payments to
Holder for the Oxnard Plant Improvements as set forth in Exhibit B hereto.

b. Obligor’s obligations under Section 2A.a. above to prepay the May Payment shall be
limited to, and in no event exceed, the following:

(i) under Sections 2A.a.(i) and 2A.a.(ii). $1,000,000 combined; and

(ii) under Section 2A.a.(iii) $700,000.

c. All payments made by Obligor pursuant to this Section 2A shall be considered
prepayments of the Note and, as such, the Shares held pursuant to the Escrow Agreement shall
be released at the rate of $0.15 per share for each $0.15 in payments. The accelerated Note
prepayment requirements of Section 2A.a. shall be in addition to all other requirements
under the Stock Purchase Agreement (as amended), the Note (as amended) and the Pledge (as
amended). Any breach of the provisions of this Section 2A shall be considered a material breach and Event of Default under the Note (as amended) and the Pledge (as amended).

 

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4. Limited Recourse. Section 7 of the Note is hereby amended and restated in its
entirety as follows:

Section 7. Limited Recourse Indebtedness. Subject only to Section 10 below
and notwithstanding any other provision of this Note, the Stock Purchase Agreement,
the Pledge Agreement or any related agreement or document, Holder (and its
successors and assigns) by acceptance of this Note agrees that (i) no action based
on this Note other than a foreclosure action under the Pledge Agreement shall be
brought against Obligor, its principals, members, officers, managers, employees,
agents or other affiliates (collectively, the “Nonrecourse Parties”), (ii) in any
action to foreclose the Security Interest (as defined in the Pledge Agreement), the
Nonrecourse Parties shall not be liable for any deficiency between the amount due
and payable under this Note and the proceeds of any foreclosure sale, and (iii) no
deficiency or other money judgment (other than a foreclosure judgment) will be
sought against one or more Nonrecourse Parties based upon a default under this Note.

5. Special Remedy. The following is hereby added as Section 10 to the Note:

Section 10. Special Remedy. In the event that Obligor fails to make the
scheduled payment set forth under Section 2.b) above on the stated due date and such
failure continues for a period of two (2) days, then notwithstanding any other
provisions of the Note, the Amendment, or any other the Stock Purchase Document,
Obligor shall immediately pay to Holder the amount required such that Holder has a
minimum of $500,000 cash immediately available in Holder’s corporate bank account
(the “Special Remedy”). Any such Special Remedy payments made by Obligor to Holder
under this Section 10 shall be considered payments pursuant to the Note. Any
failure by Obligor to make any Special Remedy payment shall be considered a material
breach and Event of Default under the Note (as amended), the Stock Purchase
Agreement (as amended) and the Pledge (as amended). The obligations and rights
under this Section 10 shall be full recourse against Obligor notwithstanding Section
7 hereof or Section 11 of the Pledge, as amended, and shall not preclude any party
from asserting any other right, or seeking any other remedies against the other
party.

6. Counsel. The parties hereby acknowledge that (i) Keller Rohrback P.L.C. has
represented only Obligor in connection with the Stock Purchase Documents and this Amendment and
(ii) Holder has been represented by other legal counsel in connection with the Stock Purchase
Documents and this Amendment.

7. Conflicts; Reaffirmation; Waiver. In the event of any conflict or inconsistency
between the provisions of the Stock Purchase Documents and the provisions of this Amendment, the
provisions of this Amendment shall govern. Except to the extent expressly amended hereby, all terms and conditions of the Note shall remain in full force and effect. Each party hereto
hereby expressly ratifies and affirms all such terms and conditions as of the effective date
hereof. Holder acknowledges receipt of the payment described in Section 2.a) above. Holder hereby
acknowledges and agrees that no events of default of Obligor have occurred, or exist as of the date
first set forth above, under the Note and the other Stock Purchase Documents.

 

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8. Governing Law; Jursidiction. THIS AMENDMENT AND THE OBLIGATIONS OF THE PARTIES
HEREUNDER WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA,
WITHOUT REGARD TO ANY CONFLICTS OF LAWS PROVISIONS THEREOF THAT WOULD OTHERWISE REQUIRE THE
APPLICATION OF THE LAW OF ANY OTHER JURISDICTION. Each party hereto knowingly and voluntarily
waives any and all rights it may have to a trial by jury with respect to any litigation based on,
or arising out of, under, or in connection with, this Amendment. Each party is hereby authorized to
submit, as conclusive evidence of such waiver of jury trial, this Amendment to a court that has
jurisdiction over the subject matter of such litigation and the parties to this Amendment.

9. Additional Acts and Assurances. Each party hereto agrees to do all such things and
take all such actions, and to make, execute and deliver such other documents and instruments, as
shall be reasonably requested to carry out the provisions, intent and purpose of this Amendment,
including without limitation amending any Stock Purchase Document as may be necessary to reflect
the revised Note payment due dates as set forth herein.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed under
seal as of the date first above written.

	 	 	 	 	 
	 	Obligor:

Supplemental Manufacturing & Ingredients, LLC, an Arizona limited liability company

 	 
	 	By:  	Ferrel Raskin
 	 
	 	 	Its: Chief Executive Officer 	 
	 	 	 	 
	 

	 	 	 	 	 
	 	Holder:

HealthSport, Inc. a Delaware corporation

 	 
	 	By:  	Robert Davidson
 	 
	 	 	Its: President 	 
	 	 	 	 
	 

 

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