Document:

Exhibit 10.23C

 Exhibit 10.23c 
 FORM OF OPTION GRANT AGREEMENT 
 THIS OPTION GRANT AGREEMENT, made as of the
     day of             , 2008 between UNDER ARMOUR, INC. (the “Company”) and
                     (the “Grantee”). 
 WHEREAS, the Company has adopted and maintains the 2005 Omnibus Long-Term Incentive Plan (the “Plan”), attached hereto as Attachment A, to promote the interests of the Company and its stockholders by
providing key employees and others with an appropriate incentive to encourage them to continue in the employ or service of the Company and to improve the growth and profitability of the Company; 
 WHEREAS, the Plan provides for the grant to Grantees of Options to purchase Stock of the Company; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants hereinafter set forth, the parties hereto hereby agree as follows: 

1. Grant of Options. Pursuant to, and subject to, the terms and conditions set forth herein and in the Plan, the Company hereby grants to the Grantee a
non-qualified stock option (the “Option”) with respect to          shares of Stock of the Company. 
 2. Grant Date. The Grant Date of the Option hereby granted is                     , 2008. 
 3. Incorporation of Plan. All terms, conditions and restrictions of the Plan are incorporated herein and made part hereof as if stated herein. If there is
any conflict between the terms and conditions of the Plan and this Option Grant Agreement, the terms and conditions of this Option Grant Agreement, as interpreted by the Committee in its sole discretion, shall govern, unless explicitly provided to
the contrary in the Plan or this Option Grant Agreement. Unless otherwise indicated herein, all capitalized terms used herein shall have the meaning given to such terms in the Plan. 
 4. Option Price. The exercise price per share of Stock underlying the Option granted hereby is $        . 
 5. Vesting. Except as provided in Section 9 and unless the Option has earlier terminated pursuant to this Agreement, the Option shall
become exercisable as follows: 20% of the shares of Stock underlying the Option shall become exercisable on each of the first five anniversaries of the Grant Date, provided the Grantee remains employed by the Company on each such anniversary. 

 6. Term. Unless the Option has earlier terminated pursuant to the provisions of this Option Grant Agreement or the Plan, all unexercised
portions of the Option shall terminate, and all rights to purchase shares of stock thereunder shall cease, upon the expiration of ten years from the Grant Date. 
 7. Employment Confidentiality Agreement. As a condition to the grant of the Option, Grantee shall have executed and become a party to the Employee Confidentiality, Non-Competition and Non-Solicitation Agreement by and between
Grantee and the Company (the “Confidentiality, Non-Compete and Non-Solicitation Agreement”) attached hereto as Attachment B. 

 8. Forfeiture. If Grantee should take any actions in violation of the Confidentiality, Non-Competition and
Non-Solicitation Agreement, or in violation of any non-competition agreement entered into between the Grantee and the Company, it will be considered grounds for termination for Cause as defined in Section 9(a) of this Agreement, and all
unexercised portions of the Option, whether vested or not, will terminate, be forfeited and will lapse, as provided in Section 9(a). 
 9.
Termination of Service. 
 (a) Termination of Service for Cause. Unless the Option has earlier terminated
pursuant to the provisions of this Option Grant Agreement or the Plan, all unexercised portions of the Option, whether vested or unvested, will terminate and be forfeited upon a termination of the Grantee’s Service for Cause. For purposes of
this Option Grant Agreement only, “Cause” shall be defined as any of the following: 
  

	 	i.	the Grantee’s material misconduct or neglect in the performance of his duties as determined by the Grantee's supervisor, division head, or Chief Executive Officer of the
Company; 

  

	 	ii.	the Grantee’s conviction by a court of competent jurisdiction, or the entry of a plea of guilty or nolo contendere by the Grantee, of any felony; offense punishable by
imprisonment in a state or federal penitentiary; any offense, civil or criminal, involving material dishonesty, fraud, moral turpitude or immoral conduct; or any crime of sufficient import to potentially discredit or adversely affect the
Company’s ability to conduct its business in the normal course; 

  

	 	iii.	the Grantee’s use of illegal drugs or abusive use of prescription drugs as determined by a licensed physician or physicians designated by the Company to examine the Grantee;

  

	 	iv.	the Grantee’s material breach of this Agreement, including but not limited to breach of the Confidentiality, Non-Compete and Non-Solicitation Agreement attached hereto as
Attachment B; or 

  

	 	v.	any other conduct that is materially injurious to the reputation, business or business relationships of the Company. 

 (b) Termination of Service other than for Cause. Unless the Option has earlier terminated pursuant to the provisions of this Option
Grant Agreement or the Plan, the vested portion of the Option shall terminate one hundred eighty (180) days following the termination of the Grantee’s Service due to death or Disability and thirty (30) days following the termination
of the Grantee’s Service for any other reason other than for Cause. The Grantee (or the Grantee’s guardian, legal representative, executor, personal representative or the person to whom the Option shall have been transferred by will or the
laws of descent and distribution, as the case may be) may exercise all or any part of the vested portion of the Option during such post termination of employment period, but not later than the end of the term of the Option. Any portion of the Option
which is unvested as of the date of termination of service shall immediately terminate. 
 Nothing in this Agreement shall be construed as a contract of
employment between the Company (or an affiliate) and Grantee, or as a contractual right of Grantee to continue in the employ of the Company (or an affiliate), or as a limitation of the right of the Company (or an affiliate) to discharge Grantee at
any time for any reason, including reasons other than for Cause as defined herein. 

 10. Effect of a Change in Control. In the event of a Change in Control, any portion of the Option which
would become vested within the twelve months following the effective date of such Change in Control had the Grantee remained employed with the Company during such twelve month period shall be immediately vested on such Change in Control. 

11. Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party hereto upon any breach or default of any
party under this Option Grant Agreement, shall impair any such right, power or remedy of such party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default
thereafter occurring nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any
party of any breach or default under this Option Grant Agreement, or any waiver on the part of any party or any provisions or conditions of this Option Grant Agreement, shall be in writing and shall be effective only to the extent specifically set
forth in such writing. 
 12. Transferability of Options. During the lifetime of the Grantee, only the Grantee or a Family Member who received
all or part of the Option, not for value, (or, in the event of legal incapacity or incompetence, the Grantee’s guardian or legal representative) may exercise the Option. The Option shall not be assignable or transferable by the Grantee other
than to a Family Member, not for value, or by will or the laws of descent and distribution. 
 13. Manner of Exercise. The vested
portion of the Option may be exercised, in whole or in part, by delivering written notice to the Stock Option Administrator designated by the Company. Such notice may be in electronic or other form as used by the Stock Option Administrator in its
ordinary course of business and as may be amended from time to time, and shall: 
 (a) state the election to exercise the Option and the
number of shares in respect of which it is being exercised; 
 (b) be accompanied by (i) cash, check, bank draft or money order in the
amount of the Option Price payable to the order of the Stock Option Administrator designated by the Company; or (ii) certificates for shares of the Company’s Stock (together with duly executed stock powers) or other written authorization
as may be required by the Company to transfer shares of such Stock to the Company, with an aggregate value equal to the Option Price of the Stock being acquired; or (iii) a combination of the consideration described in clauses (i) and
(ii). Grantee may transfer Stock to pay the Option Price for Stock being acquired pursuant to clauses (ii) and (iii) above only if such transferred Stock (x) was acquired by the Grantee in open market transactions, (y) has been
owned by Grantee for longer than six months, and (z) the Grantee is not subject to any other restrictions on transferring Company securities pursuant to Company policy or federal law. 
 In addition to the exercise methods described above and subject to other restrictions which may apply, the Grantee may exercise the Option through a procedure known as a
“cashless exercise,” whereby the Grantee delivers to the Stock Option Administrator designated by the Company an irrevocable notice of exercise in exchange for the Company issuing shares of the Company’s Stock subject to the Option to
a broker previously designated or approved by the Company, versus payment of the Option Price by the broker to the Company, to the extent permitted by the Committee or the Company and subject to such rules and procedures as the Committee or the
Company may determine. 
 14. Integration. This Option Grant Agreement, and the other documents referred to herein or delivered pursuant
hereto, which form a part hereof contain the entire understanding of the parties with respect to its subject matter and there are no restrictions, agreements, promises, representations, warranties, covenants or undertakings with respect to the
subject matter hereof other than those expressly set forth in such documents. This Option Grant Agreement and the Plan supersede all prior agreements and understandings between the parties with respect to its subject matter. 

 15. Electronic Delivery. The Company may choose to deliver certain statutory materials relating to the Plan
in electronic form. By accepting this grant Grantee agrees that the Company may deliver the Plan prospectus and the Company’s annual report to Grantee in an electronic format. If at any time Grantee would prefer to receive paper copies of these
documents, as Grantee is entitled to receive, the Company would be pleased to provide copies. Grantee should contact                      to
request paper copies of these documents. 
 16. Counterparts. This Option Grant Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which shall constitute one and the same instrument. 
 17. Governing Law. This Option Grant
Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Maryland without regard to the provisions thereof governing conflict of laws. 
 18. Grantee Acknowledgment. The Grantee hereby acknowledges receipt of a copy of the Plan and that the Option is subject to the terms of the Plan. The Participant hereby acknowledges that all decisions,
determinations and interpretations of the Committee in respect of the Plan, this Option Grant Agreement and the Option shall be final and conclusive. 
 IN WITNESS WHEREOF, the Company has caused this Option Grant Agreement to be duly executed by its duly authorized officer and said Participant has hereunto signed this Option Grant Agreement on his own behalf, thereby
representing that he has carefully read and understands this Option Grant Agreement and the Plan as of the day and year first written above. 
  

							
	 	 	 	 	UNDER ARMOUR, INC.
				
		 		 	By:	 	  

			
	WITNESS:	 		 	GRANTEEExhibit 10.24

 Exhibit 10.24 
 FORM OF RESTRICTED STOCK UNIT GRANT AGREEMENT 
 THIS AGREEMENT, made as of this
     day of             , 2007, (the “Agreement”) between UNDER ARMOUR, INC. (the “Company”) and
                     (the “Grantee”). 
 WHEREAS, the Company has adopted the 2005 Omnibus Long-Term Incentive Plan (the “Plan”), attached hereto as Attachment A, to promote the interests of the Company and its stockholders by providing the
Company’s key employees and others with an appropriate incentive to encourage them to continue in the employ of the Company and to improve the growth and profitability of the Company; and 
 WHEREAS, the Plan provides for the Grant to Grantees in the Plan of restricted share units for shares of Stock of the Company; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants hereinafter set forth, the parties hereto hereby agree as follows: 

1. Investment. The Grantee represents that the Restricted Stock Units (as defined herein) are being acquired for investment and not with a view
toward the distribution thereof. 
 2. Grant of Restricted Stock Units. Pursuant to, and subject to, the terms and conditions set
forth herein and in the Plan, the Company hereby grants to the Grantee an Award of Restricted Share Units for          shares of Stock of the Company (collectively, the “Restricted Stock
Units”). The Purchase Price for the Restricted Stock Units shall be paid by the Grantee’s services to the Company. 
 3.
Grant Date. The Grant Date of the Restricted Stock Units hereby granted is                     , 2007. 
 4. Incorporation of the Plan. All terms, conditions and restrictions of the Plan are incorporated herein and made part hereof as if stated herein.
If there is any conflict between the terms and conditions of the Plan and this Agreement, the terms and conditions of this Agreement, as interpreted by the Board, or a Committee thereof, shall govern. Unless otherwise indicated herein, all
capitalized terms used herein shall have the meanings given to such terms in the Plan. 
 5. Vesting and Delivery Date. The Restricted Stock Units shall vest in five equal annual installments on each August 15th
beginning August 15, 2008; provided that the Grantee remains continuously employed by the Company through each such applicable vesting date. Notwithstanding the foregoing, (i) in the event that the Grantee’s employment is
terminated on account of the Grantee’s death or Disability at any time, all unvested Restricted Stock Units not previously forfeited shall immediately vest on such date of termination and (ii) in the event of a Change in Control, all
unvested Restricted Stock Units not previously forfeited shall vest on such Change in Control. On the first business day after each vesting date, the Company shall deliver to Grantee the shares of stock to which the Restricted Stock Units relate,
provided, however, that if the shares of stock would otherwise be delivered to Grantee during a period in which Grantee is (i) subject to a lock-up agreement restricting Grantee’s ability to sell the shares in the open market or
(ii) restricted from selling the shares in the open market because Grantee is not then eligible to sell under the Company’s insider trading or similar plan as then in effect (whether because a trading window is not open or Grantee is
otherwise restricted from trading), delivery of the shares will be delayed until the first date on which Grantee is no longer prohibited from selling the shares due to a lock-up agreement or insider trading or similar plan restriction. 

 6. Forfeiture. Subject to the provisions of the Plan and Section 5 of this Agreement, with
respect to the Restricted Stock Units which have not become vested on the date the Grantee’s employment is terminated, the Award of Restricted Stock Units shall expire and such unvested Restricted Stock Units shall immediately be forfeited on
such date. 
 7. No Shareholder Rights. Grantee does not have any rights of a shareholder with respect to the Restricted Stock Units.
No dividend equivalents will be earned or paid with regard to the Restricted Stock Units. 
 8. Delays or Omissions. No delay or
omission to exercise any right, power, or remedy accruing to any party hereto upon any breach or default of any party under this Agreement, shall impair any such right, power or remedy of such party nor shall it be construed to be a waiver of any
such breach or default, or an acquiescence therein, or of any similar breach or default thereafter occurring nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring.
Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party or any provisions or conditions of this Agreement, shall be in writing
and shall be effective only to the extent specifically set forth in such writing. 
 9. Integration. This Agreement and the Plan
contain the entire understanding of the parties with respect to its subject matter. There are no restrictions, agreements, promises, representations, warranties, covenants or undertakings with respect to the subject matter hereof other than those
expressly set forth herein and in the Plan. This Agreement and the Plan supersede all prior agreements and understandings between the parties with respect to its subject matter. 
 10. Withholding Taxes. Grantee agrees, as a condition of this grant, that Grantee will make acceptable arrangements to pay any withholding or
other taxes that may be due as a result of vesting in Restricted Stock Units or delivery of shares acquired under this grant. In the event that the Company determines that any federal, state, local, municipal or foreign tax or withholding payment is
required relating to the vesting in Restricted Stock Units or delivery of shares arising from this grant, the Company shall have the right to require such payments from Grantee in the form and manner as provided in the Plan. 
 11. Data Privacy. In order to administer the Plan, the Company may process personal data about Grantee. Such data includes but is not limited to
the information provided in this Agreement and any changes thereto, other appropriate personal and financial data about you such as home address and business addresses and other contact information, payroll information and any other information that
might be deemed appropriate by the Company to facilitate the administration of the Plan. By accepting this grant, Grantee gives explicit consent to the Company to process any such personal data. Grantee also gives explicit consent to the Company to
transfer any such personal data outside the country in which Grantee works or are employed, including, with respect to non-US. resident Grantees, to the United States, to transferees who shall include the Company and other persons who are designated
by the Company to administer the Plan. 
 12. Electronic Delivery. The Company may choose to deliver certain statutory materials
relating to the Plan in electronic form. By accepting this grant Grantee agrees that the Company may deliver the Plan prospectus and the Company’s annual report to Grantee in an electronic format. If at any time Grantee would prefer to receive
paper copies of these documents, as Grantee is entitled to receive, the Company would be pleased to provide copies. Grantee should contact
                     to request paper copies of these documents. 
 13. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which shall
constitute one and the same instrument. 
 14. Governing Law. This Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of Maryland, without regard to the provisions governing conflict of laws. 
  

 2 

 15. Grantee Acknowledgment. The Grantee hereby acknowledges receipt of a copy of the Plan. The
Grantee hereby acknowledges that all decisions, determinations and interpretations of the Board, or a Committee thereof, in respect of the Plan, this Agreement and this Award of Restricted Stock Units shall be final and conclusive. 
 IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by its duly authorized officer and said Grantee has hereunto signed this
Agreement on the Grantee’s own behalf, thereby representing that the Grantee has carefully read and understands this Agreement and the Plan as of the day and year first written above. 
  

							
	 	 	 	 	UNDER ARMOUR, INC.
				
		 		 	By:	 	  

			
	WITNESS:	 		 	GRANTEE
			
	  
	 		 	  

  

 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}]]