Document:

Form of Special Equity Award Agreement

 Exhibit 10.2 
 EMBARQ CORPORATION 2006 EQUITY INCENTIVE PLAN 
 SPECIAL EQUITY GRANT AWARD AGREEMENT 

 

			
	To:	  	                                      
   (“You” or the “Participant”)
		
	From:	  	Embarq Corporation (the “Company”)
		
	Date:	  	May     , 2006 (the “Receipt Date”)

 Notice of Conditional Grant 
 Subject to the Embarq Corporation 2006 Equity Incentive Plan (the “Plan”) and this Special Equity Grant Award Agreement, including
Attachment A (the “Award Agreement”), and conditional upon the Company’s receipt from you of a signed copy of this Award Agreement, the Company is granting to you a special equity award of Restricted Stock Units
(“RSUs”) under the Plan (this “Award”). The Grant Date, number of RSUs and vesting dates of this Award are as follows: 
  

					
	 SPECIAL EQUITY GRANT OF RESTRICTED STOCK UNITS
	 		 	
			
	 Grant Date:
	 	  
	 	
			
	 Total Number of Restricted Stock Units:
	 	  
	 	
			
	 Vesting Dates:
	 	  
	 	

 This Award will be forfeited if this Award Agreement is not accepted and signed within 45 days of the Receipt Date
or if notification of revocation is provided, both as indicated in paragraph (d) below. 
 Because this Award is subject to the Plan and
this Award Agreement, you should carefully read the Plan and this Award Agreement, including Attachment A, to fully understand the terms of this Award. You may obtain a copy of the Plan by requesting it from the Company or you may view it on the
Company’s intranet at                     . Capitalized terms used in this Award Agreement without definition have the meanings that they
have in the Plan. 
 Consent, Agreement and Release 
 In exchange for the Company’s grant to you of this Award, which is consideration in excess of that to which otherwise you would be entitled, you agree and grant a release as follows: 
  

	(a)	You consent and agree to: 

  

	 	(i)	the termination of your employment with Sprint Nextel Corporation (“Sprint Nextel”) and any and all of its subsidiaries (Sprint Nextel and the subsidiaries
collectively are referred to as the “Sprint Nextel Group”) in connection with the Company’s separation from Sprint Nextel; 

	 	(ii)	the transfer to the Company and any and all of its subsidiaries, including Embarq Management Company (the Company and the subsidiaries collectively are referred to as
“Embarq”), of your employment in connection with the Company’s separation from Sprint Nextel; 

  

	 	(iii)	any change in positions, titles, duties, responsibilities and terms and conditions of your employment resulting from or associated with the termination and transfer described in
paragraphs (i) and (ii) above; 

  

	 	(iv)	the conversion of any and all stock options granted or awarded to you with respect to Sprint Nextel common stock under one or more of the Sprint 1997 Long-Term Stock Incentive
Program, the Sprint Management Incentive Stock Option Plan and any other stock option or stock incentive compensation plan or arrangement in which employees, officers or directors of the Sprint Nextel Group may participate into stock options granted
or awarded to you with respect to the Company’s common stock under the Plan (the “Conversion”); and 

  

	 	(v)	the Company’s grant, award and issuance to you of the stock options in connection with the Conversion (the “Issuance”). 

  

	(b)	You release and discharge the Sprint Nextel Group and Embarq and any and all of their respective parent companies, subsidiaries, predecessors, divisions, joint venturers,
affiliates, successors and assigns, and any and all of their respective past, present and future officers, directors, agents, employees, members, representatives and attorneys from any and all claims, damages, lawsuits, injuries, rights,
obligations, liabilities, actions and causes of action that you have or may have, (whether known or unknown by you, whether contingent or liquidated, whether by apportionment of fault or otherwise) of every kind, nature or description (including
those based on the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964 (as amended), the Americans with Disabilities Act, the Equal Pay Act, the Family and Medical Leave Act and all other city, state and federal laws
(both statutory and common) meant to protect employees in their employment relationships) as of the Receipt Date, to the extent that they are arising out of, or based upon or occur in connection with one or more of the events described above in
Section (a)(i) through (v). 

  

	(c)	Solely in clarification of paragraph (b) above, any obligations of the Sprint Nextel Group, Embarq or any insurer to indemnify you, or to advance to you expenses before a
judicial or administrative determination that you are entitled to indemnification, such obligations being memorialized or otherwise provided for in the Articles of Incorporation or Bylaws of Sprint Nextel or Embarq, or in a separate written
agreement, are not covered by the release in paragraph (a) and will continue to remain obligations of such persons. 

  

	(d)	You acknowledge and agree that: 

  

	 	(i)	You received this Award Agreement on the Receipt Date; 

  

	 	(ii)	The Company has provided you the Disclosure (Attachment B); 

  

	 	(iii)	The Company advises you with this statement that you have 45 calendar days after the Receipt Date to sign and return it to the Company (although you may sign it and return it to the
Company sooner if you wish); 

  

	 	(iv)	The Company advises you with this statement to consider consulting with your own legal counsel before signing this Award Agreement; and 

  

 2 

	 	(v)	You may revoke this Award Agreement within 7 calendar days after you sign it by returning written revocation in that time to the Company by certified mail, and this Award Agreement
is effective and enforceable on the 8th calendar day following the date you sign it, provided you do not earlier
revoke it as provided in this paragraph. 

 Miscellaneous 
 This Award Agreement is governed by the laws of the State of Delaware without giving effect to the principles of the conflict of laws to the contrary.
This Award Agreement may be modified only by written instrument signed by you and the Company; provided that this Award Agreement is subject to the power of the Board to amend the Plan as provided in the Plan. 
 Neither this Award Agreement, nor the Award, may be transferred, assigned or pledged by you in any way. Except as specifically provided in this Award
Agreement including the release of the Sprint Nextel Group, this Award Agreement binds and will inure to the benefit of the heirs, legal representatives, successors and assigns of the Company and you. If any part of this Award Agreement is declared
by any court or governmental authority to be unlawful or invalid, the unlawfulness or invalidity does not serve to invalidate any part of this Award Agreement not declared to be unlawful or invalid. Any part so declared unlawful or invalid will, if
possible, be construed in a manner which gives effect to the terms of that part to the fullest extent possible while remaining lawful and valid. 
 This Award Agreement may be signed in multiple counterparts, each of which will be considered an original but all of which together will constitute one and the same agreement. Delivery of a signature page to this Award Agreement by e-mail,
facsimile or other form of electronic transmission will be fully binding. 
 This Award Agreement is accepted and agreed to by the
Participant and the Company as of the dates indicated below. 
  

									
	EMBARQ CORPORATION	 		 		 	
				
	By:	 	  
	 		 	  

	Name:	 		 		 	Name:	 	
	Title:	 		 		 		 	
	Dated:	 	  
	 		 	Dated:	 	  

  

 3 

 SPECIFIC TERMS OF SPECIAL EQUITY RESTRICTED STOCK UNIT AWARD (Attachment A) 
 Section 1. Settlement of RSU Award. 
 During the
Participant’s lifetime, this Award of RSUs may be settled by delivering to the Participant or his or her Beneficiary, as applicable, either (i) an amount of cash equal to the Fair Market Value of a Share as of the Settlement Date
multiplied by the number of Shares underlying the RSUs held by the Participant (or a specified portion in the event of any partial settlement), or (ii) a number of Shares equal to the whole number of Shares underlying the RSUs then held by the
Participant (or a specified portion in the event of any partial settlement). Any fractional Shares underlying RSUs remaining on the Settlement Date will be distributed in cash in an amount equal to the Fair Market Value of a Share as of the
Settlement Date multiplied by the remaining fractional RSUs. 
 Except as specifically provided elsewhere under the Plan, the restrictions on RSUs subject to
this Award will lapse and be settled on the Settlement Date set forth below, but only if the Participant is, and at all times from the Grant Date, has been an employee of the Company, or one of its Affiliates, and the RSUs have not otherwise been
forfeited: 
  

				
	 Settlement Date of RSUs
	  	 Percentage of RSUs on which
 Restrictions Lapse
	 
	 May 21, 2007
	  	33 1/3	%
	 May 21, 2008
	  	33 1/3	%
	 May 21, 2009
	  	33 1/3	%

 Notwithstanding the above table and to the extent the RSUs have not otherwise been forfeited, the Settlement Date
for all RSUs will be the later of (i) the date on which the Participant attains age 65 or (ii) the first anniversary of the Grant Date. 
 Section 2. Effect of Separation from Service. 
 The effect of a Separation from Service on all
or any portion of this Award of RSUs is as provided below. 
  

	(a)	Except as provided in paragraph 2(c) below, if the Participant has a Separation from Service due to termination by the Company with or without Cause or the Participant’s
voluntary resignation, all RSUs which have not otherwise been settled at the time of such Separation from Service will be forfeited as of the effective date of such Separation from Service. Nothing in this Section 2(a) restricts or otherwise
interferes with the Company’s discretion with respect to the termination of any employee’s employment with the Company. 

  

	(b)	If the Participant dies or is determined to have a Disability before the Settlement Date of one or more RSUs, then the Settlement Date for all RSUs which have not otherwise been
settled will be the date of the Participant’s death or Disability. 

  

	(c)	If (i) a Change in Control occurs before the Settlement Date for all of the RSUs, (ii) except as may otherwise be provided in an employment agreement, the
Participant’s employment is terminated by the Company in a Termination without Cause, and (iii) the Participant has held the RSUs for more than one year from the Receipt Date, then the Settlement Date for all of the RSUs which have not
otherwise been settled will be the date the Participant Separates from Service. 

 Section 3. Nontransferability of
RSUs. 
 No portion of the RSUs granted under this Award Agreement may be sold, transferred, pledged, assigned, or otherwise alienated
or hypothecated, other than by will, or by the laws of descent and distribution. All rights with respect to the RSU granted to the Participant will be available during his or her lifetime only to the Participant. 
  

 4Exhibit
      10.1

     

    PLAN
      OF EXCHANGE

    

    This
      agreement and Plan of Exchange (the “Plan”) is made as of April 25, 2006, by and
      between, Diversified Financial Resources Corporation, a Nevada corporation
      (“Nevada DFRC”) and Diversified Financial Resources Corporation, a Delaware
      corporation (“Delaware DFRC”). Nevada DFRC and Delaware DFRC are sometimes
      referred to as the “Parties.”

    

    Recitals

    

    	A.  	
            Whereas,
              the authorized capital stock of Delaware DFRC consists of 10,000,000,000
              shares of Common Stock, no stated par value of which 2,381,323 shares
              are
              issued and outstanding and 200,000,000 shares of preferred stock, $0.001
              pare value of which 12,113,150 shares are issued and
              outstanding.

          

    	B.  	
            Whereas,
              the authorized capital stock of Nevada DFRC consists of 1,250,000,000
              shares of Common Stock, par value of $0.001 of which 1 share is issued
              and
              outstanding and 200,000,000 shares of preferred stock, $0.001 par value
              of
              which 0 shares are issued and
              outstanding.

          

    	C.  	
            Whereas,
              the board of directors of the Parties hereto deem it advisable and
              to the
              advantage of the Parties that Delaware DFRC’s shareholders exchange their
              shares of common stock for an equal number of shares of Nevada DFRC’s
              common stock and that all operations of the Delaware DFRC be and thereby
              are transferred to Nevada DFRC and the end result of changing the domicile
              from the State of Delaware to the State of
              Nevada.

          

    	D.  	
            Whereas
              this Plan of Exchange will have no effect or change in the nature of
              the
              business or management of the resulting business operations through
              the
              surviving corporation, Nevada DFRC.

          

    

    Agreement

    

    NOW,
      THEREFORE, the Parties do hereby adopt this Plan of Exchange as set forth by
      this agreement and do hereby agree that Delaware DFRC shall in effect merge
      into
      Nevada DFRC on the following terms, conditions and provisions:

    

    1.
      TERMS AND CONDITIONS:

    

    	1.1  	
            Exchange.
              Delaware DFRC shall be merged with and into Nevada DFRC and Nevada
              DFRC
              shall be the surviving corporation effective upon the date this Plan
              of
              Exchange and any other necessary documents are filed with the Secretary
              of
              State for the State of Nevada, (the “Effective
              Date”).

          

    

    	1.2  	
            Succession.
              On the Effective Date, Nevada DFRC shall continue its corporate existence
              under the laws of the State of Nevada and the separate existence and
              corporate existence of Delaware DFRC, except insofar as it may be
              continued by operation of law, shall be terminated and
              cease.

          

    

    	1.3  	
            Transfer
              of Assets and Liabilities.
              On the Effective Date, the rights, privileges, powers and franchises,
              both
              of a public as well as of a private nature, of each of the Parties
              shall
              be vested in and possessed by Nevada DFRC, subject to all of the
              disabilities, duties and restrictions of or upon each of the Parties;
              and
              all and singular rights, privileges, powers and franchises of each
              of the
              Parties, and all property, real, personal and mixed, of each of the
              Parties, and all debts due to each of the Parties on whatever account,
              and
              all things in action or belonging to each of the Parties shall be
              transferred to and vested in Nevada DFRC and all property, rights,
              privileges, powers and franchises, and all and every other interest,
              shall
              be thereafter the property of Nevada DFRC as they were of the Parties,
              and
              the title to any real estate vested by deed or otherwise in either
              of the
              Parties shall not revert or be in any way impaired by reason of this
              Plan
              of Exchange; provided, however, that the liabilities of the Parties
              and of
              their shareholders, directors and officers shall not be affected and
              all
              rights of creditors and all liens upon any property of either of he
              Parties shall be preserved unimpaired, and any claim existing or action
              or
              proceeding pending by or against either of the Parties may be prosecuted
              to judgment as if the Plan of Exchange had not taken place, except
              as they
              may be modified with the consent of such creditors and all debts,
              liabilities and duties of or upon each of the Parties shall attach
              to
              Nevada DFRC, and may be enforced against it to the same extent as if
              such
              debts, liabilities and duties had been incurred or contracted by Nevada
              DFRC.

          

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    	1.4  	
            Common
              Stock of Delaware DFRC and Nevada DFRC.
              On the Effective Date, by virtue of the Plan of Exchange and without
              any
              further action on the part of the Parties or their shareholders, (i)
              each
              shares of Common Stock of Delaware DFRC issued and outstanding immediately
              prior thereto shall be converted into shares of fully paid and
              nonassessable shares of the Common Stock of Nevada DFRC at a ration
              of one
              (1) to one (1), and (ii) each share of Common Stock of Nevada DFRC
              issued
              and outstanding immediately prior thereto shall be canceled and returned
              to the status of authorized but unissued
              shares.

          

    

    	1.5  	
            Stock
              Certificates.
              On and after the Effective Date, all of the outstanding certificates
              which
              prior to that time represented shares of the Common Stock or Preferred
              Stock of Delaware DFRC shall be deemed for all purposes to evidence
              ownership of and to represent the same number and class of shares of
              Nevada DFRC into which the shares of Delaware DFRC represented by such
              certificates have been converted as herein provided and shall be so
              registered on the books and records of Nevada DFRC and/or its transfer
              agent(s). The registered owner of any such outstanding stock certificate
              shall, until such certificate shall have been surrendered for transfer
              or
              conversion or otherwise accounted for to Nevada DFRC or its transfer
              agent, have and be entitled to exercise any voting and other rights
              with
              respect to and to receive any dividend and other distributions upon
              the
              shares of Nevada DFRC evidenced by such outstanding certificate as
              above
              provided.

          

    

    	2.  	
            CHARTER
              DOCUMENT, DIRECTORS AND OFFICERS

          

    

    	2.1  	
            Articles
              of Incorporation and Bylaws.
              The Articles of Incorporation and Bylaws of Nevada DFRC in effect on
              the
              Effective Date shall continue to be the Articles of Incorporation and
              Bylaws of the surviving corporation, Nevada
              DFRC.

          

    

    	2.2  	
            Directors.
              The directors of Nevada DFRC immediately preceding the Effective Date
              shall become the directors of the surviving corporation, Nevada DFRC
              and
              shall serve as such until their successors are duly elected and
              qualified.

          

    	2.3  	
            Officers.
              The officers of Nevada DFRC immediately preceding the Effective Date
              shall
              become the officers of the surviving corporation, Nevada DFRC, on and
              after the Effective Date to serve at the pleasure of its Board of
              Directors

          

    

    	3.  	
            MISCELLANEOUS

          

    

    	3.1  	
            Further
              Assurances.
              From time to time, and when required by Nevada DFRC or by its successors
              and assigns, there shall be executed and delivered on behalf of Delaware
              DFRC such deeds and other instruments, and there shall be taken or
              caused
              to be taken by it such further and other action, as shall be appropriate
              or necessary in order to vest or perfect in or to conform of record
              or
              otherwise, in Nevada DFRC the title to and possession of all the property,
              interests, assets, rights, privileges, immunities, powers, franchises
              and
              authority of Delaware DFRC and otherwise to carry out the purpose of
              this
              Plan of Exchange, and the officers and directors of the surviving
              corporation are fully authorized in the name and on behalf of Delaware
              DFRC or otherwise to take any and all such action and to execute and
              deliver any and all such deeds and other
              instruments.

          

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    	3.2  	
            Amendment.
              At any time before or after approval by the shareholders of Delaware
              DFRC,
              this Plan of Exchange may be amended in any manner (except that, after
              the
              approval of the Plan of Exchange by the shareholders of Delaware DFRC,
              the
              principal terms may not be amended without the further approval of
              the
              shareholders of Delaware DFRC) as may be determined in the judgment
              of the
              respective Board of Directors of the Parties hereto, to be necessary,
              desirable or expedient in order to clarify the intention of the Parties
              hereto or to effect or facilitate the purpose and intent of this Plan
              of
              Exchange.

          

    

    	3.3  	
            Conditions.
              The obligations of the Parties to effect the Plan of Exchange contemplated
              hereby is subject to satisfaction of the following conditions (any
              or all
              of which may be waived by either of the Parties in its sole discretion
              to
              the extent permitted by law): the Plan of Exchange shall have been
              approved by the shareholders of Delaware DFRC in accordance with
              applicable provisions of the law of the State of Delaware and any and
              all
              consents, permits, authorizations, approvals, and orders deemed in
              the
              sole discretion of Delaware DFRC to be material to consummation of
              the
              Plan of Exchange shall have been
              obtained.

          

    

    	3.4  	
            Abandonment
              or Deferral.
              At any time before the Effective Date, this Plan of Exchange may be
              terminated and the plan abandoned by the Board of Directors of either
              Party or both, notwithstanding the approval of this Plan of Exchange
              by
              the shareholders of Delaware DFRC or Nevada DFRC, or the consummation
              of
              the Plan of Exchange may be deferred for a reasonable period of timeif,
              in
              the opinion of the Board of Directors of both parties hereto, such
              action
              would be in the best interest of such the Parties. In the event of
              termination of this Plan of Exchange, this agreement shall become void
              and
              of no effect and there shall be no liability on the part of either
              Party
              or their respective Board of Directors, or shareholders, with respect
              thereto, except that Delaware DFRC shall pay all expenses incurred
              in
              connection with the Plan of Exchange or in respect of this Plan of
              Exchange or relating thereto.

          

    

    

    	3.5  	
            Counterparts.
              In order to facilitate the filing and recording of this Plan of Exchange,
              the same may be executed in any number of counterparts, each of which
              shall be deemed to be an original.

          

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    IN
      WITNESS WHEREOF, this Plan of Exchange, having been first duly approved by
      the
      Board of Directors of Delaware DFRC and Nevada DFRC, is hereby executed on
      behalf of each said corporation and attested by their respective officers
      signature herein below and as duly authorized.

    

    DIVERSIFIED
      FINANCIAL RESOURCES CORPORATION-a Nevada Corporation

    

    By:_____________________________

        
Elson
      Soto, Jr., President and Director

    

    DIVERSIFIED
      FINANCIAL RESOURCES CORPORATION-a Delaware Corporation

    

    

    By:_____________________________

        
Elson
      Soto, Jr., President and Director

    
 

    
      
         

      

      
        4

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