Document:

Exhibit 10.3

 

INVESTMENT TECHNOLOGY GROUP, INC.

 

2007
OMNIBUS EQUITY COMPENSATION PLAN

EQUITY DEFERRAL AWARD PROGRAM SUBPLAN

 

GRANT NOTICE

 

Investment Technology
Group, Inc. (the “Company”), pursuant to its Equity Deferral Award
Program Subplan (the “Program”), hereby grants to you as a Participant
under the Program, Stock Units representing a generally nontransferable right
to receive one share of Company Stock with respect to each underlying Stock
Unit at a specified future date together with a right to Dividend Equivalents
on Basic Units as specified in the Program (the “Grant”), subject to all
of the terms and conditions as set forth herein, the Program and the Investment
Technology Group, Inc. 2007 Omnibus Equity Compensation Plan (the “Plan”).(1) 
Notwithstanding anything set forth in the Program, Participant shall not be
entitled to any Matching Units in connection with this Grant. All capitalized
terms herein that are not otherwise defined shall have the meanings ascribed to
such terms in the Program or Plan, as applicable.

 

Participant:

Date of
Grant:

	
  Number of Basic
  Stock Units subject to Grant:

  	
             (which
  number of units represents $        divided by the Fair Market Value of a share of Company Stock on the Date of
  Grant)

  
	
  90 Day Average Price on Date of
  Grant:

  	
  $         

  

 

Vesting
Schedule: The
Basic Units subject to this Grant shall vest in equal annual installments on
each of the second, third and fourth anniversaries of the Date of Grant if the
Participant remains continuously employed by the Company on each applicable
vesting date and the average of the Company’s common stock price for the 90
calendar days preceding, and including, each of the vesting dates is higher
than the average of the Company’s common stock price for the 90 calendar days
preceding, and including, the Date of Grant (as set forth above). The
Participant shall receive shares of Company Stock in settlement of the Basic
Units in accordance with the terms of the Program, subject to the collection of
applicable taxes in connection with the issuance of Company Stock.

 

Acknowledgements: You acknowledge receipt of this Grant
Notice, the Program, the Plan and the Plan prospectus.(1)  You further
acknowledge that this Grant is made under, and governed by the terms and
conditions of, the Plan and the Program except as otherwise set forth herein
and you agree to be bound by such terms. 
The Compensation Committee of the Board of Directors of the Company (the
“Board”), or any other committee appointed by the Board to administer
the Program, has the authority to interpret and construe this Grant pursuant to
the terms of the Program and the Plan, and its decisions shall be conclusive as
to any questions arising hereunder.

 

 

	
  INVESTMENT TECHNOLOGY GROUP,
  INC.

  	
   

  	
  PARTICIPANT

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:
  Robert C. Gasser

  	
   

  	
  Brokerage
  Name:

  	
   

  
	
   

  	
   

  	
   

  
	
  Title:
  President and Chief Executive Officer

  	
   

  	
  Brokerage
  Account Number:

  	
   

  
	
   

  	
   

  	
   

  
	
  Date:

  	
   

  	
  Date:

  	
   

  
								

 

(1) 
The Plan, Plan prospectus, and Program are available on the Company’s Intraweb;
provided that paper copies of the Plan, Plan prospectus and Program are
available upon request by contacting the Legal Department of the Company at
ITG_Legal or 212.444.6378.Exhibit 10.4

 

AMENDMENT TO

CHANGE IN CONTROL AGREEMENT

 

This
AMENDMENT is made and entered into as of April 20, 2010, by and between
between [INSERT EMPLOYING ENTITY], a [Delaware] corporation (the “Company”), and [                        ]
(the “Executive”).

 

WHEREAS,
the Company and the Executive previously entered into that certain [Change in
Control Agreement][Amended and Restated Change in Control Agreement], dated as
of                       
(the “CIC Agreement”); and

 

WHEREAS,
the parties now wish to amend the CIC Agreement to align the “Good Reason”
definition with the Company’s or its affiliates current compensation structure
and to  make certain other clarifying
changes.

 

NOW,
THEREFORE, the parties mutually acknowledge and agree that, effective as of the
date hereof, the CIC Agreement is hereby amended as follows:

 

1.             The last sentence in the definition
of “Average Bonus” in Section 2 is hereby deleted and replaced in its
entirety with the following:

 

For
the avoidance of doubt, annual bonuses shall include any bonus amounts paid in
the form of Basic Units awarded under the Parent Company’s Equity Deferral
Award Program Subplan (or any successor thereto).

 

2.             The definition of “Target Annual
Compensation” in Section 2 is hereby deleted and replaced in its entirety
with the following:

 

“Total Annual Compensation” shall mean the sum of the
Executive’s base salary and Average Bonus as in effect immediately prior to the
Change in Control.

 

3.             The last sentence in the definition
of “Good Reason” in Section 2 is hereby deleted and replaced in its
entirety with the following:

 

For
purposes of this Agreement, it shall be a material breach of this Agreement by
the Company if the Company decreases the Executive’s Total Annual Compensation
by more than thirty-three percent (33%).

 

4.             In all respects not amended, the
CIC Agreement is hereby ratified and confirmed.

 

5.             For convenience, this Amendment may
be executed in any number of identical counterparts, each of which shall be
deemed a complete original in itself and may be introduced in evidence or used
for any other purposes without the production of any other counterparts.

 

6.             This Amendment shall be governed by
and construed in accordance with the laws of the State of New York, without
reference to principles of conflict of laws thereof.

 

 

IN WITNESS WHEREOF, the undersigned have
executed this Amendment as of the date first above written.

 

 

	
  [INSERT EMPLOYING ENTITY]

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
  Name: Robert C. Gasser

  	
   

  
	
  Title: CEO and President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  EXECUTIVE

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
			

 

 

2Exhibit 10.1

 

Phase
Forward Incorporated

Amended
and Restated Summary of Cash and Equity Compensation Practices for Non-Employee
Directors

(Effective
January 2, 2010)

 

Cash Compensation:

 

	
  Annual
  retainer for Board membership(1)

  	
   

  	
  $

  	
  30,000

  	
   

  
	
  Annual
  retainer for lead independent director

  	
   

  	
  12,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Audit
  and Finance Committee(2)

  	
   

  	
   

  	
   

  
	
  Annual
  retainer for committee membership

  	
   

  	
  12,000

  	
   

  
	
  Additional
  retainer for committee chair

  	
   

  	
  8,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Management
  Development and Compensation Committee(3)

  	
   

  	
  7,000

  	
   

  
	
  Annual
  retainer for committee membership

  	
   

  	
  8,000

  	
   

  
	
  Additional
  retainer for committee chair

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Governance,
  Nominating and Compliance Committee(3)

  	
   

  	
   

  	
   

  
	
  Annual
  retainer for committee membership

  	
   

  	
  7,000

  	
   

  
	
  Additional
  retainer for committee chair

  	
   

  	
  4,000

  	
   

  

 

(1) Annual retainer
for Board service covers four regular Board meetings and one special budget
meeting.

 

(2) Annual retainers
for Audit and Finance Committee service cover six regular meetings of the
committee.

 

(3) Annual
retainers for Management Development and Compensation Committee service and
Governance, Nominating and Compliance Committee service cover four regular
meetings of each committee.

 

For additional meetings
not included in the annual retainers listed above, the following fees apply:

 

	
  Board
  Meeting Fees (per meeting)

  	
   

  	
  $1,000/in
  person; $500/telephone

  	
   

  
	
  Committee
  Meeting Fees (per meeting)

  	
   

  	
  $1,000/in
  person; $500/telephone

  	
   

  

 

Equity Compensation

 

Upon the initial election
to the Board of Directors, each non-employee member would receive a one-time
grant of $150,000 worth of restricted stock units under our 2004 Stock Option
and Incentive Plan 9”the “2004 Plan”).

 

All non-employee members
of our Board are eligible to receive an annual grant of $75,000 worth of
restricted stock units under the 2004 Plan.

 

All restricted stock unit
awards granted to non-employee Board members vest as follows: 50% on second
anniversary of the grant and an additional 25% on each of the third and fourth
anniversary of the date of grant. In the event of a change in control, all
restricted stock unit awards granted to our non-employee Board members would
vest in full upon such change in control.

 

In addition to the cash
and equity compensation described above, all members of our Board will be
reimbursed for reasonable out-of-pocket expenses incurred in attending meetings
of the Board of Directors.

 

1Exhibit
10.6

 

MAC-GRAY CORPORATION

NON-EMPLOYEE DIRECTOR COMPENSATION POLICY

 

The
following summarizes the compensation arrangements established between Mac-Gray
Corporation (the “Company”) and its directors to be effective as of March 9,
2010:

 

Directors
who are also employees of the Company do not receive compensation for their
services on the Board or any committee thereof. 
Each director who is not an employee of the Company receives:

 

·                  An annual fee of $30,000, paid in quarterly
installments, 50% of which is paid in shares of common stock and the balance of
which, at the discretion of the director, is paid in cash, shares of common
stock or any combination thereof; and

 

·                  An additional fee of $1,600 for each Board
meeting attended in person and $500 per meeting attended by teleconference.

 

Committee
members receive $1,600 per meeting of the Compensation Committee, the Audit
Committee and the Governance and Nominating Committee.  Committee members receive $300 per meeting
attended by teleconference.  In addition,
the Chairman of each of the Compensation Committee, the Audit Committee and the
Governance and Nominating Committee is paid an $8,000 annual retainer, paid
semi-annually in July and January. 
The independent Board Chairman shall receive a $40,000 annual retainer,
paid quarterly.  The independent Board
Chairman may elect, on an annual basis, to receive 0% to 100% of the retainer
in shares of the Company’s common stock.

 

The
shares of the Company’s common stock that a director elects to receive in lieu
of cash fees will be valued based on the fair market value of the common stock
on the date of issuance.

 

Each
newly elected non-employee director receives an option to purchase 5,000 shares
of common stock on the fifth business day after his or her election to the
Board. Stock options granted to non-employee directors become fully exercisable
as of May 1 of the year following the date of grant, have an exercise
price equal to the fair market value of the common stock on the date of the
grant, and terminate upon the tenth anniversary of the date of grant. Each
non-employee director who is serving as a director prior to the annual meeting
of stockholders  receives on the fifth
business day after each annual meeting of stockholders, providing he or she is
still serving as a director, a restricted stock grant valued at $60,000 based
on the closing price of the stock on the date of the grant. The restricted
shares vest over a three year period, 1/3 each year commencing on the first
anniversary of the grant.

 

All
directors are reimbursed for significant travel expenses, if any, incurred in
attending meetings of the Board and its committees.

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