Document:

ex103

          Exhibit 10.3    OWENS & MINOR, INC.   Restricted Stock Agreement              THIS AGREEMENT (“Agreement”), dated the 1st day of July 2015, between OWENS &   MINOR, INC., a Virginia corporation (the "Company"), and P. Cody Phipps ("Participant"), is   made pursuant and subject to the provisions of the Company's 2015 Stock Incentive Plan (the   "Plan"). All capitalized terms used herein that are not otherwise defined shall have the same   meanings given to them in the Plan.      W I T N E S S E T H:       1.  Restricted Stock Grant.  Pursuant to the provisions of the Plan, on July 1, 2015 (the   “Date of Grant”), the Company granted to Participant, subject to the terms and conditions of the   Plan and subject further to the terms and conditions herein set forth, a Stock Award of 147,059   shares of Common Stock (the “Restricted Stock”).       2.  Terms and Conditions. The shares of Restricted Stock evidenced hereby are subject   to the following terms and conditions:       (a) Restricted Period.  Except as provided in subsection 2(d), this award of Restricted   Stock shall vest, and become nonforfeitable as set forth below:                Date     Shares Vested     July 1, 2016      29,411     July 1, 2017      29,412       July 1, 2018      29,412       July 1, 2019      29,412     July 1, 2020      29,412      The period from the date hereof until the applicable shares of Restricted Stock have become   vested shall be referred to as the “Restricted Period.”  Until expiration of the applicable   Restricted Period, the Restricted Stock shall be subject to the following restrictions:        (i) Participant shall not be entitled to receive the certificate or certificates evidencing   the Restricted Stock;        (ii) Shares of Restricted Stock may not be sold, transferred, assigned, pledged,   conveyed, hypothecated or otherwise disposed of; and        (iii) Shares of Restricted Stock may be forfeited immediately as provided in   subsection 2(d) hereof.      Notwithstanding the foregoing, Participant shall be entitled to vote the shares of Restricted Stock   and receive dividends thereon while the Restricted Stock is outstanding.  Any stock dividends or     

 

other shares of Company stock or other property issued in respect of Restricted Stock, including   without limitation, shares issued in connection with stock splits and recapitalizations, will be subject   to the same restrictions applicable to the Restricted Stock.         (b)  Custody of Shares of Restricted Stock.  Shares of Restricted Stock shall be issued   in Participant’s name in book-entry form but shall be held by the Company (or its transfer agent)   during the Restricted Period.  The Company’s General Counsel & Corporate Secretary shall   serve as attorney-in-fact for Participant during the Restricted Period with full power and   authority in Participant’s name to assign and convey to the Company any shares of Restricted   Stock that Participant forfeits under subsection 2(d) hereof.         (c)  Distribution of Restricted Stock.  If Participant remains in the continuous   employment of the Company or an Affiliate during the entire Restricted Period and otherwise   does not forfeit such shares pursuant to subsection 2(d) hereof, all restrictions applicable to the   shares of Restricted Stock shall lapse upon expiration of the applicable Restricted Period and the   shares of Common Stock that were granted to Participant in the form of shares of Restricted   Stock shall be delivered to Participant.       (d)  Lapse of Restrictions or Forfeiture.        (i) Death.  If Participant’s employment with the Company and its Affiliates is   terminated before the expiration of the Restricted Period by reason of   Participant’s death, all restrictions applicable to the shares of Restricted Stock   shall immediately lapse on the date of Participant’s death and the shares of   Common Stock shall be delivered to Participant’s estate.        (ii) Disability.  If Participant’s employment with the Company and its Affiliates is   terminated before the expiration of the Restricted Period by reason of “total and   permanent disability” (as such term is defined in Section 22(e)(3) of the Internal   Revenue Code of 1986, as amended (the “Code”)), all restrictions applicable to   the shares of Restricted Stock shall immediately lapse on the date of Participant’s   employment termination and the shares of Common Stock shall be delivered to   Participant.        (iii) Retirement.  If Participant’s employment with the Company and its Affiliates is   terminated before the expiration of the Restricted Period by reason of retirement   (defined below), all shares of Restricted Stock shall be forfeited immediately and   all rights of Participant to such shares shall terminate immediately without further   obligation on the part of the Company.  Notwithstanding the foregoing, if   Participant’s service to the Company or an Affiliate continues from and after the   date of retirement through (i) membership on the Board, (ii) a written consulting   services arrangement with the Company or an Affiliate or (iii) at the discretion of the   Company, a written confidentiality and non-solicitation agreement with the   Company (“Post-Retirement Service”), shares of Restricted Stock shall not be   forfeited but shall continue to be held by the Company until the earlier of (i) the end   of the Restricted Period at which time such shares shall be delivered to the     

 

Participant or (ii) the date Participant ceases to provide Post-Retirement Service at   which time such shares shall be forfeited.  For purposes of this Section 2(d)(iii),   retirement shall mean severance from the employment of the Company and its   Affiliates (i) at or after the attainment of age 55 and after completing a number of   years of service (the total years of service credited to Participant for purposes of   determining vested or nontransferable interest in a defined benefit pension plan   maintained by the Company or an Affiliate which satisfies the requirements of   Section 401(a) of the Code) that, when added to Participant’s age at the time of   severance from employment, equals at least 65 or (ii) at or after the attainment of   age 65.      (iv) Termination of Employment by Company or Affiliate.      (a) With Cause.  If the Company or an Affiliate terminates Participant’s   employment with the Company and its Affiliates with “cause,” all shares of   Restricted Stock shall be forfeited immediately and all rights of Participant to   such shares shall terminate immediately without further obligation on the part   of the Company.  For purposes of this subsection 2(d)(iv)(a), “cause” means:   (i) misappropriation, theft or embezzlement of funds or property from the   Company or an Affiliate or securing or attempting to secure personally any   profit in connection with any transaction entered into on behalf of the   Company or an Affiliate, (ii) conviction of, or entry of a plea of “nolo   contendere” with respect to, a felony which, in the reasonable opinion of the   Company, is likely to cause material harm to the Company’s or an Affiliate’s   business, customer or supplier relations, financial condition or prospects, (iii)   violation of the Company’s Code of Honor or any successor code of conduct;   or (iv) failure to substantially perform (other than by reason of illness or   temporary disability, regardless of whether such temporary disability is or   becomes a total and permanent disability (as defined in paragraph 2(d)(ii)   above), or by reason of approved leave of absence) the duties of Participant’s   job.      (b) Without Cause.  If Participant’s employment with the Company and its   Affiliates is terminated by the Company or an Affiliate without “cause” (as   defined in subsection 2(d)(iv)(a) above), all restrictions applicable to the shares   of Restricted Stock shall immediately lapse on the date of Participant’s   employment termination and the shares of Common Stock shall be delivered   to Participant.        (v) Termination of Employment by Participant for Good Reason.  If Participant   resigns from employment with the Company and its Affiliates before the   expiration of the Restricted Period for “Good Reason” (which shall have the   meaning given to such term in the Executive Severance Agreement between   Participant and the Company effective July 1, 2015, as such agreement from time   to time may be amended, modified, extended or replaced by a successor   agreement or plan), all restrictions applicable to the shares of Restricted Stock     

 

shall immediately lapse on the date of Participant’s employment termination and   the shares of Common Stock shall be delivered to Participant.        (vi) Termination of Employment by Participant.  If Participant resigns from   employment with the Company and its Affiliates before the expiration of the   Restricted Period, other than due to death, disability, retirement or for “Good   Reason” as provided in subsections (i), (ii), (iii) and (v) above, all of the shares of   Restricted Stock shall be forfeited immediately and all rights of Participant to   such shares shall terminate immediately without further obligation on the part of   the Company.      (vii) Change in Control.        (a) If, upon a Change in Control, (i) the Restricted Stock is assumed by, or a   substitute award granted by, the surviving entity (together with its Related   Entities, the “Surviving Entity”) in the Change in Control (such assumed or   substituted award to be of the same type of award as this Restricted Stock with a   value as of the Control Change Date substantially equal to the value of this   Restricted Stock) and (ii) within 24 months of the Control Change Date,   Participant’s employment with the Surviving Entity is terminated by the   Surviving Entity without Cause (defined below) or by Participant for Good   Reason (defined below), all restrictions applicable to the shares of Restricted   Stock shall immediately lapse on the date of employment termination and the   shares of Common Stock upon which the restrictions have lapsed shall be   delivered to Participant.        (b) For purposes of this subsection 2(d)(vii), “Cause” shall mean (i) the willful and   continued failure by Participant to substantially perform his or her duties with   the Surviving Entity (other than any such failure resulting from Participant’s   incapacity due to physical or mental illness) after a written demand for   substantial performance is delivered to Participant by the Surviving Entity,   which demand specifically identifies the manner in which the Surviving Entity   believes that Participant has not substantially performed his or her duties, or (ii)   the willful engaging by Participant in conduct which is demonstrably and   materially injurious to the Surviving Entity, monetarily or otherwise.  For   purposes of this paragraph, no act, or failure to act, on Participant’s part shall be   deemed "willful" unless done, or omitted to be done, not in good faith and   without reasonable belief that the action or omission was in the best interest of   the Surviving Entity.        (c) For purposes of this subsection 2(d)(vii), “Good Reason” shall have the meaning   given to such term in the Executive Severance Agreement between Participant   and the Company effective July 1, 2015, as such agreement from time to time   may be amended, modified, extended or replaced by a successor agreement or   plan.        

 

(d)  If, upon a Change in Control, the Restricted Stock is not assumed by, or a   substitute award granted by, the Surviving Entity in the Change in Control as   provided in subsection 2(d)(vii)(a) above, all restrictions applicable to the   shares of Restricted Stock shall immediately lapse on the Control Change   Date and the shares of Common Stock upon which the restrictions have lapsed   shall be delivered to Participant.       3.  Recoupment Policy.  Notwithstanding any other provision in this Agreement to the   contrary, the Stock Award and underlying Restricted Stock granted under this Agreement are   subject to recoupment by the Company in accordance with the Company’s Policy on Recoupment   of Executive Incentive Compensation in effect on the date of this Agreement, as such policy is   interpreted and applied by the Company’s board of directors.         4. Governing Law.  This Agreement shall be governed by the laws of the   Commonwealth of Virginia.       5.  No Right to Continued Employment.  The grant of Restricted Stock hereunder does   not confer upon Participant any right with respect to continuance of employment by the Company   or an Affiliate, nor shall it interfere in any way with the right of the Company or an Affiliate to   terminate his employment at any time.       6.  Change in Capital Structure.  The terms of this award shall be adjusted as the   Committee determines is equitably required in the event the Company effects one or more stock   dividends, stock split-ups, subdivisions or consolidations of shares or other similar changes in   capitalization.       7.  Conflicts.  In the event of any conflict between the provisions of the Plan as in effect   on the date hereof and the provisions of this Agreement, the provisions of the Plan shall govern. All   references herein to the Plan shall mean the Plan as in effect on the date hereof.       8.  Participant Bound by Plan.  Participant hereby acknowledges receipt of a copy of the   Plan and agrees to be bound by all the terms and provisions thereof.       9.  Binding Effect.  Subject to the limitations stated above and in the Plan, this   Agreement shall be binding upon and inure to the benefit of the legatees, distributees and personal   representatives of Participant and the successors of the Company.        

 

 IN WITNESS WHEREOF, OWENS & MINOR, INC. has caused this Agreement to   be signed by a duly authorized officer and Participant has affixed his or her signature hereto.       OWENS & MINOR, INC.              By: /s/: Grace R. den Hartog      Senior Vice President, General Counsel      & Coporate Secretary                  PARTICIPANT                       /s/: P. Cody Phipps                   Name: P. Cody Phippsex104

                  Exhibit 10.4                                 Owens & Minor, Inc.   Officer Severance Policy                                                                           Organizational or Functional Area(s):  Corporate Officers      Policy For: Officer Severance      Sponsor: The Compensation & Benefits Committee of the Board   of Directors     

 

2         1.0 Approval, Review and Revision History      Version Description of Revision   Stakeholder/   Reviewer   Date Title    Original Policy Adopted  2005                                                                                             

 

3      2.0 Purpose       The purpose of the policy is to have a formal executive severance policy in lieu of the   Company’s general severance policy for Corporate Officers that provides more   appropriate and competitive levels of severance where the officer’s employment is   involuntarily terminated without Cause or the officer resigns at the request of the   Company.           3.0 Applicability and Scope      This policy applies to Corporate Officers whose employment is involuntarily terminated by   the Company without Cause or who resign at the request of the Company.  Furthermore,   this policy is intended to cover cash severance based on salary and bonus of the   Corporate Officer.  The vesting or forfeiture of outstanding equity grants of the Corporate   Officer is determined based on the applicable equity grant agreement between the   Company and the Corporate Officer.  In addition, severance benefits to Corporate   Officers following a “change in control” of the Company are covered by separate   severance agreements entered into between the Company and the Corporate Officers   and are not intended to be covered or determined by this policy.      4.0 Definitions      Affiliate      Affiliate means, with respect to the applicable person or entity, any person or entity that   directly or indirectly through one or more intermediaries, controls, is controlled by or is   under common control with the applicable entity or person.        Base Salary      Base salary means the annual base salary of the Corporate Officer as of the date of   involuntary termination without Cause or resignation at the request of the Company.        Bonus      Bonus means the amount of cash incentive paid to the Corporate Officer under the   Company’s annual incentive program for the applicable year.       Cause      Cause means one or more of the following by a Corporate Officer: (i) misappropriation,   theft or embezzlement of funds or property from the Company or an Affiliate or securing   or attempting to secure personally any profit in connection with any transaction entered   into on behalf of the Company or an Affiliate, (ii) conviction of, or entry of a plea of “nolo   contendere” with respect to, a felony, or a misdemeanor which, in the reasonable opinion   of the Company, is likely to cause material harm to the Company’s or an Affiliate’s   business, customer or supplier relations, financial condition or prospects, (iii) violation of   the Company’s Code of Honor or any successor code of conduct or refusal to sign an   acknowledgement to abide by the same; (iv) violation of any material law or regulation to     

 

4      the detriment of the Company or any Affiliate; (v) engagement in conduct that results in or   would be reasonably likely to result in material injury to the reputation of the Company or   any Affiliate if the Corporate Officer were to continue to be employed by the Company; or   (vi) failure to substantially perform (other than by reason of illness or temporary disability,   regardless of whether such temporary disability is or becomes a total and permanent   disability (as defined in Section 22(e)(3) of the Internal Revenue Code of 1986, as   amended), or by reason of approved leave of absence) the duties of the officer’s job.      Company      The Company means Owens & Minor, Inc.      Corporate Officers      The Corporate Officers include the following officer positions in the Company:      Chief Executive Officer   President   Chief Operating Officer   Executive Vice President   Senior Vice President   Vice President       Severance Event      Severance Event means the involuntary termination without Cause of the Corporate   Officer by the Company or the Corporate Officer’s resignation from the Company at the   request of the Company.       Severance Period      Severance Period means the applicable period of time set forth in the table in Section 5.0   below for the Corporate Officer.        Target Bonus      Target Bonus means the target cash incentive compensation for the Corporate Officer   under the Company’s annual incentive program for the applicable year.        5.0 Policy Statements   Upon the occurrence of a Severance Event for a Corporate Officer, subject to the other   terms and conditions set forth herein, the Company shall make a severance payment to   such Corporate Officer as shown in the following table:         Officer Position Severance Amount Severance   Period   CEO   President   Chief Operating Officer   Executive Vice President   Senior Vice President   1.5 x the sum of:   • Base Salary   • The lower of   average Bonus paid   or Target Bonus for   the three calendar   years prior to date of   18 months     

 

5      employment   termination   Vice President 1.0 x the sum of:   • Base Salary   • The lower of   average Bonus paid   or Target Bonus for   the three calendar   years prior to date of   employment   termination      12 months      Other Benefits.  In addition to the severance payment and subject to the other terms and   conditions set forth herein, a Corporate Officer will receive the following upon the   occurrence of a Severance Event:      • Continued medical/dental/vision benefits under the Company’s standard plans   and programs for active full-time employees during the applicable Severance   Period (i.e., benefits are continued through end of last month of severance under   the same terms offered to active full-time employees) or until alternate   employment begins      • Outplacement services provided by the Company for up to six months following   date of termination      • Tax preparation and financial counseling services consistent with allowance   during employment provided for the applicable Severance Period or until   alternate employment begins      This policy does not provide for any additional age, pay or service credit benefits under   any retirement plans or programs of the Company.        Conditions to Receipt of Severance Benefits.  As a condition to receiving any of the   severance benefits described in this policy, the Corporate Officer must enter into the   following agreements with the Company (in form reasonably acceptable to the   Company):      • a non-compete, non-solicitation (employees and customers), non-disparagement   and non-interference agreement for the benefit of the Company and its Affiliates   that will apply during the Severance Period      • a confidentiality agreement with respect to the Company’s and its Affiliates’   information will apply for an indefinite period       • a general release of claims against the Company and its Affiliates arising out of   employment         Violation of any one of the above-referenced agreements will cause cessation of further   severance benefits and require reimbursement of severance amounts paid or benefits   provided by the Company.             

 

6      6.0 Standards and Procedures      The General Counsel and Senior Vice President of Human Resources shall make all   determinations as to the eligibility of a Corporate Officer for severance benefits under this   policy and shall be responsible for preparing and approving all documentation relative to   the conditions underlying the receipt of severance benefits (including but not limited to   agreements of the Corporate Officer on non-competition, non-solicitation, non-   disparagement, non-interference, confidentiality and release of claims against the   Company and its Affiliates).  In the event either the General Counsel or Senior Vice   President of Human Resources is the officer whose eligibility for severance benefits   under this policy is being evaluated, the one whose eligibility is not being evaluated   together with the Chief Executive Officer of the Company shall make the determination of   eligibility and satisfaction of conditions.         In the event of any question on interpretation of this policy that cannot be resolved by the   General Counsel and Senior Vice President of Human Resources, the Chairman of the   Compensation & Benefits Committee shall have final discretionary authority to interpret   and construe the provisions of this policy.      Subject to all conditions being met, severance payments will be made in a cash lump   sum within 30 days after the termination date of the Corporate Officer’s employment with   the Company; provided that payment will be delayed for six months if the payment is   deemed deferred compensation subject to Internal Revenue Code Section 409A and the   officer is then a “specified employee” as defined in Section 409A.  It is the intent of the   Company that any payment under this policy shall, to the extent subject to Section 409A   of the Internal Revenue Code, be paid in compliance with Section 409A and the treasury   regulations thereunder such that there will be no adverse tax consequences, interest or   penalties as a result of the payments.  However, in the event that the amounts payable or   paid under this policy are subject to any taxes, penalties or interest under Section 409A,   the Corporate Officer shall be solely liable for the payment of any such taxes, penalties or   interest.   7.0 Accountability      The General Counsel and the Senior Vice President of Human Resources shall be   responsible for the execution and enforcement of this severance policy.          8.0 Monitoring Activities       Subject to the provisions of Section 6.0 above, the General Counsel and Senior Vice   President of Human Resources shall review and approve the payment of severance   under this policy to any Corporate Officer to ensure that the policy is being applied   correctly and consistently and that all conditions to receipt of the benefits under this   policy have been met and continue to be met.  The General Counsel and Senior Vice   President of Human Resources shall prepare and approve the documentation relative to   the Corporate Officer’s agreement with the Company on non-competition, non-   solicitation, non-interference, confidentiality and release of claims.                    

 

7      9.0 Review Cycle      This policy may be reviewed and revised at any time by the Compensation & Benefits   Committee of the Board of Directors in consultation with the General Counsel and the   Senior Vice President of Human Resources and shall be reviewed for potential revision   approximately every three years.               10.0 Effective Date      This policy is effective August 1, 2015.

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