Document:

sbid_ex102.htm

EXHIBIT 10.2

 

RESTRICTED STOCK UNIT AGREEMENT

 

This Restricted Stock Unit Agreement (this "Agreement") is made and entered into as of _______, 20__ (the "Award Date") by and between Symbid Corp., a Nevada corporation (the "Company") and ____________________ (the "Grantee").

 

WHEREAS, the Company has adopted the “Symbid - 2013 Equity Incentive Plan (the "Plan") pursuant to which Awards of Restricted Stock Units may be made; and

 

WHEREAS, the Committee has determined that it is in the best interests of the Company and its shareholders to make the Award of Restricted Stock Units provided for herein.

 

NOW, THEREFORE, the parties hereto, intending to be legally bound, agree as follows:

 

1.           Award of Restricted Stock Units.

 

1.1              Pursuant to Section 10 of the Plan, the Company hereby issues to the Grantee on the Award Date an Award consisting of, in the aggregate, __________ Restricted Stock Units (the "Restricted Stock Units"). Each Restricted Stock Unit represents the right to receive one share of the Company’s common stock (“Common Stock”), subject to the terms and conditions set forth in this Agreement and the Plan. Capitalized terms that are used but not defined herein have the meaning ascribed to them in the Plan.

 

1.2              The Restricted Stock Units shall be credited to a separate account maintained for the Grantee on the books and records of the Company (the "Account"). All amounts credited to the Account shall continue for all purposes to be part of the general assets of the Company.

 

2.           Consideration. The Award of the Restricted Stock Units is made in consideration of the services to be rendered by the Grantee to the Company.

 

3.           Vesting.

 

3.1              Except as otherwise provided herein, provided that the Grantee remains in continuous service through the respective vesting dates set forth below, the Restricted Stock Units awarded will vest as provided below. The period between award and vesting of the Restricted Stock Units is referred to as the “Restricted Period”.

 

  

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Vesting Date

	 	
Number of Restricted Stock Units Vesting on the Vesting Date

	  	 	  
	  	 	  
	  	 	  
	  	 	  
	  	 	  
	  	 	  
	  	 	  
	  	 	  

 

Once vested, the Restricted Stock Units become "Vested Units."

 

3.2              The foregoing vesting schedule notwithstanding, if the Grantee's Continuous Service terminates for any reason at any time before all of his or her Restricted Stock Units have vested, the Grantee's unvested Restricted Stock Units shall be automatically forfeited upon such termination of Continuous Service and neither the Company nor any Affiliate shall have any further obligations to the Grantee under this Agreement.

 

3.3              Unless otherwise determined by the Committee at the time of a Change in Control, a Change in Control shall have no impact on the vesting of the Restricted Stock Units.

 

4.           Restrictions. Subject to any exceptions set forth in this Agreement or the Plan, during the Restricted Period and until such time as the Restricted Stock Units are settled in accordance with Section 6, the Restricted Stock Units or the rights relating thereto may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Grantee. Any attempt to assign, alienate, pledge, attach, sell or otherwise transfer or encumber the Restricted Stock Units or the rights relating thereto shall be wholly ineffective and, if any such attempt is made, the Restricted Stock Units will be forfeited by the Grantee and all of the Grantee's rights to such units shall immediately terminate without any payment or consideration by the Company. Upon vesting, the common stock issued by the Company to the Grantee as provided in Section 6 below, shall remain subject to applicable U.S. securities laws and restrictions.

 

5.           Rights as Shareholder; Dividend Equivalents.

 

5.1              The Grantee shall not have any rights of a shareholder with respect to the shares of Common Stock underlying the Restricted Stock Units unless and until the Restricted Stock Units vest and are settled by the issuance of such shares of Common Stock.

 

  

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5.2              Upon and following the settlement of the Restricted Stock Units, the Grantee shall be the record owner of the shares of Common Stock underlying the Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).

 

5.3              Until such time as the Restricted Stock Units vest, the Grantee's Account shall be credited with an amount equal to all cash and stock dividends ("Dividend Equivalents") that would have been paid to the Grantee if one share of Common Stock had been issued on the Award Date for each Award of Restricted Stock Unit made to the Grantee as set forth in this Agreement. Dividend Equivalents shall be withheld by the Company for the Grantee's Account and interest may be credited on the amount of cash Dividend Equivalents withheld at a rate and subject to such terms as determined by the Committee. Dividend Equivalents shall be subject to the same vesting restrictions as the Restricted Stock Units to which they are attributable in accordance with Section 3 and shall be paid on the same date that the Restricted Stock Units to which they are attributable are settled in accordance with Section 6 hereof Dividend Equivalents credited to a Grantee's Account shall be distributed in cash or, at the discretion of the Committee, in whole or in part in shares of Common Stock having a Fair Market Value equal to the amount of the Dividend Equivalents and interest, if any.

 

6.           Settlement of Restricted Stock Units. Subject to Section 9 hereof, promptly following each vesting date, and in any event no later than January 31 of the calendar year following the calendar year in which such vesting occurs, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock equal to the number of Vested Units and cash equal to any Dividend Equivalents credited with respect to such Vested Units and the interest thereon or, at the discretion of the Company, in shares of Common Stock having a fair market value equal to such Dividend Equivalents and the interest thereon; and (b) enter the Grantee's name on the books of the Company as the shareholder of record with respect to the shares of Common Stock delivered to the Grantee.

 

7.           No Right to Continued Service. Neither the Plan nor this Agreement shall confer upon the Grantee any right to be retained in any position, as an Employee, Consultant, Director or Advisor of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee's Continuous Service at any time, with or without Cause.

 

  

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8.           Adjustments. If any change is made to the outstanding Common Stock or the capital structure of the Company, if required, the Restricted Stock Units shall be adjusted or terminated in any manner as contemplated by Section 14 of the Plan.

 

9.           Tax Liability and Withholding.

 

9.1              The Grantee shall be required to pay to the Company, and the Company shall have the right to deduct from any compensation paid to the Grantee pursuant to the Plan, the amount of any required withholding taxes in respect of the Award, vesting and/or settlement of Restricted Stock Units and to take all such other action as the Committee deems necessary to satisfy all obligations for the payment of such withholding taxes. The Committee may permit the Grantee to satisfy any federal, state or local tax and employee social security contributions withholding obligation by any of the following means, or by a combination of such means:

 

(a) tendering a cash payment.

 

(b) authorizing the Company to withhold shares of Common Stock from the shares of Common Stock otherwise issuable or deliverable to the Grantee as a result of the vesting of the Restricted Stock Units; provided, however, that no shares of Common Stock shall be withheld with a value exceeding the minimum amount of tax required to be withheld by law.

 

(c) delivering to the Company previously owned and unencumbered shares of Common Stock.

 

9.2              Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related withholding ("Tax-Related Items"), the ultimate liability for all Tax-Related Items is and remains the Grantee's responsibility and the Company (a) makes no representation or undertakings regarding the treatment of any Tax-Related Items in connection with the Award, vesting or settlement of the Restricted Stock Units or the subsequent sale of any shares; and (b) does not commit to structure the Restricted Stock Units to reduce or eliminate the Grantee's liability for Tax-Related Items.

 

10.           Compliance with Law. The issuance and transfer of shares of Common Stock shall be subject to compliance by the Company and the Grantee with all applicable requirements of U.S. federal and state securities laws, Netherlands law,  and with all applicable requirements of any stock exchange or trading market on which the Company's shares of Common Stock may be listed. No shares of Common Stock shall be issued or transferred unless and until any then applicable requirements of U.S. state and federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel.

 

  

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11.           Notices. Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed the Chief Financial Officer of the Company at the Company's principal corporate offices. Any notice required to be delivered to the Grantee under this Agreement shall be in writing and addressed to the Grantee at the Grantee's address as shown in the records of the Company. Either party may designate another address in writing (or by such other method approved by the Company) from time to time.

 

12.           Governing Law. This Agreement will be construed and interpreted in accordance with the laws of The Netherlands without regard to conflict of law principles.

 

13.           Interpretation. Any dispute regarding the interpretation of this Agreement shall be submitted by the Grantee or the Company to the Committee for review. The resolution of such dispute by the Committee shall be final and binding on the Grantee and the Company.

 

14.           Restricted Stock Units Subject to Plan. This Agreement is subject to the Plan as approved by the Company's shareholders. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

 

15.           Successors and Assigns. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Grantee and the Grantee's beneficiaries, executors, administrators and the person(s) to whom the Restricted Stock Units may be transferred by will or the laws of descent or distribution.

 

16.           Severability. The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law.

 

17.           Discretionary Nature of Plan. The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion. The Award of the Restricted Stock Units in this Agreement does not create any contractual right or other right to receive any Restricted Stock Units or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Grantee's employment with the Company.

 

18.           Amendment. The Company has the right to amend, alter, suspend, discontinue or cancel the Restricted Stock Units, prospectively or retroactively; provided, that, no such amendment shall adversely affect the Grantee's material rights under this Agreement without the Grantee's consent.

 

  

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19.           Section 409A. This Agreement is intended to comply with Section 409A of the Code or an exemption thereunder and shall be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes or penalties under Section 409A of the Code. Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement comply with Section 409A of the Code and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Grantee on account of non-compliance with Section 409A of the Code.

 

20.           No Impact on Other Benefits. The value of the Grantee's Restricted Stock Units is not part of his or her normal or expected compensation for purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.

 

21.           Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature.

 

22.           Acceptance. The Grantee hereby acknowledges receipt of a copy of the Plan and this Agreement. The Grantee has read and understands the terms and provisions thereof, and accepts the Restricted Stock Units subject to all of the terms and conditions of the Plan and this Agreement. The Grantee acknowledges that there may be adverse tax consequences upon the vesting or settlement of the Restricted Stock Units or disposition of the underlying shares and that the Grantee has been advised to consult a tax advisor prior to such vesting, settlement or disposition.

 

[Signature Page Follows]

 

  

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	  	
Symbid Corp.

	  	
By:                                                      

Name:

Title:

	  	  
	  	
By:                                                      

Name:  

Title:

 

7SPR_2015.07.02-EX10.1

EXHIBIT 10.1

Amendment No. 12
To
Special Business Provisions SPB MS-65530-0016
Between
The Boeing Company
And
Spirit AeroSystems, Inc.

THIS AMENDMENT  to Special Business Provisions SBP MS-65530-0016 is entered into as of April 9, 2015 ("Effective Date"), by and between The Boeing Company, a Delaware Corporation ("Boeing"), and Spirit AeroSystems,  Inc , a Delaware corporation ("Seller"). Hereinafter, Seller and Boeing may be referred to jointly as "Parties" hereto.

WHEREAS, Boeing and Seller are parties to the Special Business Provisions
MS-65530-0016, dated June 16, 2005 (the "SBP"), and the General Terms Agreement BCA-65530-0016, dated June 17, 2005 (the "GTA") (collectively, the "Sustaining Agreement"),  each as amended to their respective Effective Dates.

WHEREAS, Boeing and Seller have agreed to change terms within SBP Attachment 25 by amendment hereto.

NOW THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, it is hereby agreed by and between the Parties:

		
	I. 
	Section 3.0 ("RIGHT TO BID")  of Attachment 25 to the SBP is hereby deleted in its entirety and replaced with  the following:

3.0     EXCLUSIVE RIGHT TO MODIFED INNNER WALL  SOW

3.1     In the event that Boeing  changes the material requirements  of the Tl SOW from titanium    to   composite/aluminum  dense  core (hereinafter, "Modified  IW  SOW"), Seller  will  have  the  exclusive right  to perform  such  Modified  IW SOW, if Spirit  has competitive pricing  and a feasible  technical solution. All other  contract  terms, including  but not limited  to, specific  price, warranty per the PSAD, and term, will be agreed to in good faith by the Parties.

3.2      In  the  event  Boeing  implements  the  Modified  IW  SOW, it  will provide Seller with sufficient  advance notice of the Initial Change in accordance  with Section 8.0 of SBP Attachment 27 (737 MAX Non­ Recurring  Agreement)   to  enable   the  Parties  to  implement   this Section 3.0.

IN WITNESS THEREOF the Parties hereto have executed this Amendment as of the day and year first written above.

BOEING
THE BOEING COMPANY

Signature: /s/Kayla Drawsky    
Printed Name:Kayla Drawsky
Title: Procurement Agent    
Date: 04/23/2015    

SELLER
Spirit AeroSystems, Inc.

Signature: /s/ Ryan Ast    
Printed Name:  Ryan Ast
Title: Contract Administrator    
Date: 04/09/2015

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