Document:

Form of Performance Share Agreement for U.S. Grantees under 1999 Stock Plan

 Exhibit 10.44 
 PALM, INC. 
 1999 STOCK PLAN 
 PERFORMANCE SHARE AGREEMENT 
 Grant #
             
 NOTICE OF GRANT 
 Palm, Inc. (the “Company”) hereby grants you, [NAME OF EMPLOYEE] (the “Grantee”), the number of performance shares indicated below
(the “Performance Shares”) under the Company’s 1999 Stock Plan (the “Plan”). The date of this Agreement is [DATE] (the “Grant Date”). Subject to the provisions of Appendix A (attached hereto) and of the Plan,
the principal features of this Award are as follows: 
 Total Number of Performance Shares: [NUMBER] 
 Purchase Price per Share: $0.001 
 Total Purchase Price:
$[NUMBER] 
 Vesting Commencement
Date:                     [DATE] 
 Vesting Schedule: 
 Twenty-five percent (25%) of the Performance Shares shall vest on each anniversary of the
Vesting Commencement Date, subject to Grantee’s remaining a Service Provider through each applicable vesting date. 
 Your
[electronic acceptance of this award through the [            ] website] OR [signature below] and/or your acceptance of Shares in payment of this award indicates your
agreement and understanding that this grant is subject to all of the terms and conditions contained in the Plan and this Performance Share Agreement (the “Agreement”), which includes this Notice of Grant and Appendix A. For example,
important additional information on vesting and termination of this Performance Share grant is contained in paragraphs 4 through 7 of Appendix A. ACCORDINGLY, PLEASE BE SURE TO READ ALL OF APPENDIX A, WHICH CONTAINS THE SPECIFIC TERMS AND
CONDITIONS OF THIS PERFORMANCE SHARE GRANT. 
 [By clicking the “ACCEPT” button on the
[            ] website, you agree to the following: “By clicking the Accept button with respect to my Performance Share award, I have executed a contract with the
Company, with the intent to be bound by this Agreement.” 
 Please be sure to retain a copy of this Agreement and of your
Acknowledgement page from the [            ] website indicating your electronic acceptance of this Agreement; you may obtain a paper copy of this Agreement at any time and at
the Company’s expense by requesting one from Stock Administration. If you prefer not to electronically accept this Agreement, you may accept this Agreement by signing a paper copy of the Agreement and delivering it to Stock Administration.]

 [SIGNATURE BLOCK BELOW TO BE REMOVED FOR ELECTRONIC ACCEPTANCES] 
  

											
	PALM, INC.	 		 	GRANTEE
				
	By	 	 	 		 	 
		 	Name:	 		 		 	[NAME]	 	
		 	Title:	 		 		 		 	

  

 -2- 

 APPENDIX A 
 TERMS AND CONDITIONS OF PERFORMANCE SHARES 
 1. Grant. The Company hereby grants to the
Grantee under the Plan at the per share price of $0.001, equal to the par value of a Share, the number of Performance Shares indicated in the Notice of Grant, subject to all of the terms and conditions in this Agreement and the Plan. 
 2. Payment of Purchase Price. When the Performance Shares are paid out to the Grantee, the purchase price will be deemed paid by the Grantee for
each Performance Share through the past services rendered by the Grantee, and will be subject to the appropriate tax withholdings. 
 3.
Company’s Obligation to Pay. Each Performance Share has an initial value equal to the Fair Market Value of a Share on the date of grant. Unless and until the Performance Shares have vested in the manner set forth in paragraphs 4 or
5, the Grantee will have no right to payment of such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will represent an unsecured obligation of the Company. Payment of any vested Performance
Shares will be made in Shares. 
 4. Vesting Schedule. Except as otherwise provided in this Agreement, the Performance Shares awarded
by this Agreement are scheduled to vest in accordance with the vesting schedule set forth in the Notice of Grant, subject to Section 16 of the Plan. Performance Shares scheduled to vest on any such date actually will vest only if the Grantee
continues to be a Service Provider through such date. 
 5. Administrator Discretion. The Administrator, in its discretion, may
accelerate the vesting of the balance, or some lesser portion of the balance, of the Performance Shares at any time, subject to the terms of the Plan. If so accelerated, such Performance Shares will be considered as having vested as of the date
specified by the Administrator. If the Administrator, in its discretion, accelerates the vesting of the balance, or some lesser portion of the balance, of the Performance Shares and if necessary, in the sole determination of the Company, to avoid
the imposition of any additional tax or income recognition under Section 409A of the Code, the payment of such accelerated Performance Shares nevertheless shall be made at the same time or times as if such Performance Shares had vested in
accordance with the vesting schedule set forth in the Notice of Grant (whether or not the Grantee remains a Service Provider through such date(s)). 
 6. Payment after Vesting. Any Performance Shares that vest in accordance with paragraph 4 will be paid to the Grantee (or in the event of the Grantee’s death, to his or her estate) in Shares as soon as practicable following the
date of vesting, subject to paragraph 9. Any Performance Shares that vest in accordance with paragraph 5 will be paid to the Grantee (or in the event of the Grantee’s death, to his or her estate) in Shares in accordance with the provision
of such paragraph, subject to paragraph 9. 
 7. Forfeiture. Notwithstanding any contrary provision of this Agreement, the
balance of the Performance Shares that have not vested pursuant to paragraphs 4 or 5 at the time the Grantee ceases to be a Service Provider will be forfeited and automatically transferred to and reacquired by the Company at no cost to the Company.
The Grantee shall not be entitled to a refund of any of the price paid for the Performance Shares forfeited to the Company pursuant to this paragraph 7. 
  

 -3- 

 8. Death of Grantee. Any distribution or delivery to be made to the Grantee under this Agreement
will, if the Grantee is then deceased, be made to the administrator or executor of the Grantee’s estate (or such other person to whom the Performance Shares are transferred pursuant to the Grantee’s will or in accordance with the laws of
descent and distribution). Any such transferee must furnish the Company (a) written notice of his or her status as a transferee, (b) evidence satisfactory to the Company to establish the validity of the transfer of these Performance Shares
and compliance with any laws or regulations pertaining to such transfer, and (c) written acceptance of the terms and conditions of this Performance Share grant as set forth in this Agreement. 
 9. Withholding of Taxes. The Company (or the Parent or Subsidiary to which the Grantee provides service) will withhold a portion of the Shares
otherwise issuable in payment for vested Performance Shares that have an aggregate market value sufficient to pay the minimum applicable federal, state and local income, employment and any other applicable taxes required to be withheld by the
Company (or the Parent or Subsidiary to which the Grantee provides service) with respect to the Shares (the “Minimum Withholding Amount”) or require E*TRADE or the applicable broker utilized by the Company to sell on the market a portion
of the Shares that have an aggregate market value sufficient to pay the Minimum Withholding Amount (a “Sell to Cover”). Any Sell to Cover arrangement shall be pursuant to terms specified by the Company from time to time. No fractional
Shares will be withheld, sold to cover the Minimum Withholding Amount or issued pursuant to the grant of Performance Shares and the issuance of Shares thereunder; unless determined otherwise by the Company, any additional withholding necessary for
this reason will be done by the Company, in its sole discretion, through the Grantee’s paycheck or through direct payment by the Grantee to the Company in the form of cash, check or other cash equivalent. Instead of or in combination with the
foregoing withholding methods, the Company (or the Parent or Subsidiary to which the Grantee provides service) may, in its discretion, require the Grantee to pay an amount necessary to pay the applicable taxes directly to the Company (or the Parent
or Subsidiary to which the Grantee provides service) in the form of cash, check or other cash equivalent, and/or may withhold an amount necessary to pay the applicable taxes from the Grantee’s paycheck, in each case with no or reduced
withholding or Sell to Cover of Shares. In the event the withholding requirements are not satisfied through the withholding of Shares or the Sell to Cover (or, through the Grantee’s paycheck or direct payment, as indicated above), no payment
will be made to the Grantee (or his or her estate) for Performance Shares unless and until satisfactory arrangements (as determined by the Administrator) have been made by the Grantee with respect to the payment of any income and other taxes which
the Company determines must be withheld or collected with respect to such Performance Shares. By accepting this Award, the Grantee expressly consents to the withholding of Shares and to any cash or Share withholding or Sell to Covers as provided for
in this paragraph 9. All income and other taxes related to the Performance Share award and any Shares delivered in payment thereof are the sole responsibility of the Grantee. 
 10. Rights as Stockholder. Neither the Grantee nor any person claiming under or through the Grantee shall have any of the rights or privileges of
a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates representing such Shares (which may be in book entry form) shall have been issued, recorded on the records of the Company or its transfer
agents or registrars, and delivered to the Grantee (including through electronic delivery to a brokerage account). Notwithstanding any other part of this Agreement, any quarterly or other regular, periodic dividends or distributions (as determined
by the Company) paid on Shares will accrue with respect to (i) unvested Performance Shares, and (ii) Performance Shares that are vested but unpaid, and in each 

  

 -4- 

 
case will be paid out at the same time or time(s) as the underlying Performance Shares on which such dividends or other distributions have accrued. After
issuance, recordation and delivery of the Shares, the Grantee shall have all the rights of a stockholder of the Company with respect to voting such shares and receipt of dividends and distributions on such Shares. 
 11. No Effect on Employment or Service. The Grantee’s employment or service with the Company and any Parent or Subsidiary is on an at-will
basis only, subject to the provisions of Applicable Law and to any written, express employment contract with the Grantee. Accordingly, nothing in this Agreement or the Plan shall confer upon the Grantee any right to continue to be employed by or
provide service to the Company or any Parent or Subsidiary or shall interfere with or restrict in any way the rights of the Company or the Parent or Subsidiary to which the Grantee provides service, which are hereby expressly reserved, to terminate
the employment or service of the Grantee at any time for any reason whatsoever, with or without good cause. Such reservation of rights can be modified only in an express written contract executed by a duly authorized officer of the Company or the
Parent or Subsidiary to which the Grantee provides service. 
 12. Address for Notices. Any notice to be given to the Company under
the terms of this Agreement shall be addressed to the Company, in care of its General Counsel at the Company’s headquarters, 950 W. Maude Avenue, Sunnyvale, California 94085, or at such other address as the Company may hereafter designate in
writing. 
 13. Grant is Not Transferable. Except to the limited extent provided in paragraph 8 above, this grant and the rights and
privileges conferred hereby shall not be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to sale under execution, attachment or similar process. Upon any attempt to
transfer, assign, pledge, hypothecate or otherwise dispose of this grant, or of any right or privilege conferred hereby, or upon any attempted sale under any execution, attachment or similar process, this grant and the rights and privileges
conferred hereby immediately shall become null and void. 
 14. Restrictions on Sale of Securities. The Shares issued as payment for
vested Performance Shares awarded under this Agreement will be registered under the federal securities laws and will be freely tradable upon receipt. However, the Grantee’s subsequent sale of the Shares will be subject to any market
blackout-period that may be imposed by the Company and must comply with the Company’s insider trading policies, and any other applicable securities laws. 
 15. Binding Agreement. Subject to the limitation on the transferability of this grant contained herein, this Agreement shall be binding upon and inure to the benefit of the heirs, legatees, legal
representatives, successors and assigns of the parties hereto. 
 16. Conditions for Issuance of Stock. The shares of stock
deliverable to the Grantee may be either previously authorized but unissued shares or issued shares which have been reacquired by the Company. The Company shall not be required to transfer on its books or list in street name with a brokerage company
or otherwise issue any certificate or certificates for Shares hereunder prior to fulfillment of all the following conditions: (a) the admission of such Shares to listing on all stock exchanges on which such class of stock is then listed; and
(b) the completion of any registration or other qualification of such Shares under any Applicable Law or under the rulings or regulations of the Securities and Exchange Commission or any other governmental regulatory body, which the
Administrator shall, in its absolute discretion, deem necessary or advisable; and (c) the obtaining of 

  

 -5- 

 
any approval or other clearance from any state or federal governmental agency, which the Administrator shall, in its absolute discretion, determine to be
necessary or advisable; and (d) the lapse of such reasonable period of time following the date of vesting of the Performance Shares as the Administrator may establish from time to time for reasons of administrative convenience. 
 17. Plan Governs. This Agreement is subject to all terms and provisions of the Plan. In the event of a conflict between one or more provisions of
this Agreement and one or more provisions of the Plan, the provisions of the Plan shall govern. Capitalized terms used and not defined in this Agreement shall have the meaning set forth in the Plan. 
 18. Administrator Authority. The Administrator shall have the power to interpret the Plan and this Agreement and to adopt such rules for the
administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules (including, but not limited to, the determination of whether or not any Performance Shares have vested). All actions
taken and all interpretations and determinations made by the Administrator shall be final and binding upon the Grantee, the Company and all other persons, and shall be given the maximum deference permitted by law. No person acting as or on behalf of
the Administrator shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or this Agreement. 
 19. Captions. Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of this Agreement. 
 20. Agreement Severable. In the event that any provision in this Agreement shall be held illegal, invalid or unenforceable for any reason, the
illegality, invalidity or unenforceability shall not affect the remaining parts of this Agreement, and this Agreement shall be construed and enforced as if the illegal, invalid or unenforceable provision had not been included. 
 21. Entire Agreement. This Agreement constitutes the entire understanding of the parties on the subjects covered. The Grantee expressly warrants
that he or she is not executing this Agreement in reliance on any promises, representations, or inducements other than those contained herein. 
 22. Modifications to the Agreement. Modifications to this Agreement or the Plan can be made only in an express written contract executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in the
Plan or this Agreement, the Company reserves the right to revise this Agreement as it deems necessary or advisable, in its sole discretion and without the consent of the Grantee, to comply with Section 409A of the Code or to otherwise avoid
imposition of any additional tax or income recognition under Section 409A of the Code prior to the actual payment of Shares pursuant to this award of Performance Shares. However, the Company makes no representation that this award of
Performance Shares is not subject to Section 409A of the Code nor makes any undertaking to preclude Section 409A of the Code from applying to this award of Performance Shares. 
 23. Amendment, Suspension or Termination of the Plan. By accepting this award, the Grantee expressly warrants that he or she has received an award
under the Plan, and has received, read and understood a description of the Plan. The Grantee understands that the Plan is discretionary in nature and may be modified, suspended or terminated by the Company at any time. 
  

 -6- 

 24. Governing Law. This grant of Performance Shares shall be governed by, and construed in
accordance with, the laws of the State of California, without regard to its conflict of laws provisions. 
 25. Tax Advice. The
Company has made no warranties or representations to the Grantee with respect to the income tax consequences of the transactions contemplated by the Agreement pursuant to which the Performance Shares have been issued and the Shares issuable
thereunder and the Grantee is in no manner relying on the Company or its representatives for an assessment of such tax consequences. The Grantee acknowledges that the Grantee has not relied and will not rely upon the Company or the Company’s
counsel with respect to any tax consequences related to the Performance Shares or the ownership, purchase, or disposition of the Shares issuable thereunder. The Grantee assumes full responsibility for all such consequences and for the preparation
and filing of all tax returns and elections which may or must be filed in connection with the Performance Shares and the Shares issuable thereunder. 
 o 0 o 
  

 -7-Transition Agreement

 Exhibit 10. 1 
 Transition Agreement 
 This Transition Agreement made as of this 3rd day of April, 2008 by and between
VistaPrint Limited (“VistaPrint”), VistaPrint USA, Incorporated (“VistaPrint USA” and, together with VistaPrint, the “Company”) and Anne S. Drapeau (“Ms. Drapeau”). 
 WHEREAS, Ms. Drapeau currently serves the Company as an Executive Vice President and as its Chief People Officer; 
 WHEREAS, Ms. Drapeau informed the Company of her desire to resign all positions she currently holds with the Company to pursue other
employment; and 
 WHEREAS, the Company and Ms. Drapeau believe that it is in both of their interests for her to continue her
employment until September 30, 2008 (the “Resignation Date”) pursuant to the provisions set forth in this Transition Agreement. 
 NOW, THEREFORE, in consideration of the foregoing and the mutual covenants contained herein, the parties agree as follows. 
 1. Contractual Status. The Company and Ms. Drapeau agree that she will remain employed by the Company in either her current position or in another position designated by the Company from the date of this Transition
Agreement until September 30, 2008 (the “Contractual Period”). During the Contractual Period, Ms. Drapeau will continue to receive the same level of pay and benefits from the Company that she received immediately prior to the
execution of this Transition Agreement. In addition, provided Ms. Drapeau remains employed by the Company through the Resignation Date, the Company will provide her with (i) a bonus for the fiscal year ending June 30, 2008
(“Fiscal 2008”) and (ii) a prorated bonus for the fiscal year ending June 30, 2009 (“Fiscal 2009”) relating to the period from July 1, 2008 to the Resignation Date, in each case in accordance with its normal
practices. The amounts payable pursuant to this Section 1 shall be subject to the terms and conditions set forth in Exhibit A. 
 2.
Early Termination.  
 (i) If the Company terminates Ms. Drapeau’s employment other than for “Cause” prior to
the Resignation Date, the Company shall pay her the compensation she would have earned from the effective date of the termination until the Resignation Date and it will pay her a bonus for Fiscal 2008 (if such termination occurs during Fiscal 2008)
or for Fiscal 2009 (if such termination occurs during Fiscal 2009) prorated through the Resignation Date. Such payment will be made in a lump sum within fifteen (15) days of her date of termination without Cause. In addition, (i) each of
Ms. Drapeau’s outstanding options to purchase shares of VistaPrint to the extent not currently exercisable that would have vested on or before the Resignation Date but for such termination of employment shall become immediately exercisable
as to such number of shares as would have become vested as of the Resignation Date had Ms. Drapeau’s employment not been so terminated and (ii) any restricted stock award subject to a right of repurchase by VistaPrint shall become
vested as to such number of shares as would have become vested as of the 

 
Resignation Date had Ms. Drapeau’s employment not so terminated and such vested shares shall no longer be subject to a right of repurchase by
VistaPrint. The amounts payable pursuant to this Section 2 shall be subject to the terms and conditions set forth in Exhibit A. For purposes of this Transition Agreement, “Cause” means: 
 (a) Ms. Drapeau’s willful and continued failure to substantially perform her reasonable assigned duties (other than any such failure resulting
from incapacity due to physical or mental), which failure is not cured within 30 days after a written demand for substantial performance is received by Ms. Drapeau from the Board which specifically identifies the manner in which the Board of
Directors believes she has not substantially performed her duties; or 
 (b) Ms. Drapeau’s willful engagement in illegal conduct or
gross misconduct that is materially and demonstrably injurious to the Company. 
 (ii) If the Contractual Period terminates for any reason
other than a termination by the Company without Cause, Ms. Drapeau shall only be entitled to receive the pay and benefits she earned as of the termination date. 
 3. Termination of the Executive Retention Agreement. This Transition Agreement supersedes and replaces in its entirety the Executive Retention Agreement between the parties dated September 12, 2005,
as amended, which shall hereafter be null and void and of no further force and effect. 
 4. Non-Disclosure, Non-Competition and
Non-Solicitation Obligations Ms. Drapeau acknowledges and reaffirms her obligation, consistent with applicable law, to keep confidential and not to disclose any and all non-public information concerning the Company that she acquired
during the course of her employment with the Company, including, but not limited to, any non-public information concerning the Company’s business affairs, business prospects and financial condition, as is stated more fully in the Invention and
Non-Disclosure Agreement she executed, which remains in full force and effect. Ms. Drapeau further acknowledges and reaffirms her obligations under the Non-Competition and Non-Solicitation Agreement she previously executed for the benefit of
the Company, which also remains in full force and effect. 
 5. Return of Company Property. Ms. Drapeau agrees and
warrants that on or before her final date of employment with the Company, she will return to the Company all keys, files, records (and copies thereof), equipment (including, but not limited to, computer hardware, software and printers, wireless
handheld devices, cellular phones, pagers, etc.), Company identification, Company vehicles and any other Company-owned property in her possession or control, and that she will leave intact all electronic Company documents, including, but not limited
to, those which she developed or helped develop during his employment. Ms. Drapeau further agrees and warrants that on or before her final date of employment with the Company she will have cancelled all accounts for her benefit, if any, in the
Company’s name, including, but not limited to, credit cards, telephone charge cards, cellular phone and/or pager accounts and computer accounts. 
  

 -2- 

 6. Amendment. This Transition Agreement shall be binding upon the parties and may not be
modified in any manner, except by an instrument in writing of concurrent or subsequent date signed by duly authorized representatives of the parties hereto. This Transition Agreement is binding upon and shall inure to the benefit of the parties and
their respective agents, assigns, heirs, executors, successors and administrators. 
 7. No Waiver. No delay or omission by
either party in exercising any right under this Transition Agreement shall operate as a waiver of that or any other right. A waiver or consent given by a party on any one occasion shall be effective only in that instance and shall not be construed
as a bar or waiver of any right on any other occasion. 
 8. Validity. Should any provision of this Transition Agreement be
declared or be determined by any court of competent jurisdiction to be illegal or invalid, the validity of the remaining parts, terms or provisions shall not be affected thereby and said illegal and/or invalid part, term or provision shall be deemed
not to be a part of this Transition Agreement. 
 9. Voluntary Assent. Ms. Drapeau affirms that no other promises or
agreements of any kind have been made to or with her by any person or entity whatsoever to cause her to sign this Transition Agreement, and that she fully understand the meaning and intent of this agreement. Ms. Drapeau states and represents
that she has had an opportunity to fully discuss and review the terms of this Transition Agreement with an attorney. 
 10.
Section 409A. The Company makes no representation or warranty and shall have no liability to Ms. Drapeau or any other person if any provisions of this Transition Agreement are determined to constitute deferred compensation
subject to Section 409A but do not satisfy the conditions of such section. 
 11. Applicable Law. This Transition
Agreement shall be interpreted and construed by the laws of the Commonwealth of Massachusetts, without regard to conflict of laws provisions. The parties hereby irrevocably submit to and acknowledge and recognize the jurisdiction of the courts of
the Commonwealth of Massachusetts, or if appropriate, a federal court located in Massachusetts (which courts, for purposes of this Transition Agreement, are the only courts of competent jurisdiction), over any suit, action or other proceeding
arising out of, under or in connection with this Transition Agreement or the subject matter hereof. 
 12. Entire Agreement.
This Transition Agreement, together with the Invention and Non-Disclosure Agreement and the Non-Competition and Non-Solicitation Agreement, contains and constitutes the entire understanding and agreement between the parties hereto and cancels all
previous oral and written negotiations, agreements, commitments and writings in connection therewith. Nothing in this paragraph, however, shall modify, cancel or supersede the obligations of Ms. Drapeau set forth in paragraph 4 herein.

 [SIGNATURE PAGE FOLLOWS] 
  

 -3- 

							
	VISTAPRINT LIMITED	 		 	Anne S. Drapeau
				
	By:	 	 /s/ Janice Richardson-Trott
	 		 	 /s/ Anne S. Drapeau

	Name:	 	Janice Richardson-Trott	 		 	
	Title:	 	Secretary	 		 	
	
	VISTAPRINT USA, INCORPORATED
				
	By:	 	 /s/ Robert S. Keane
	 		 	
	Name:	 	Robert S. Keane	 		 	
	Title:	 	President & CEO	 		 	

  

 -4- 

 Exhibit A: Payments subject to Section 409A 
 Subject to the provisions in this Exhibit A, any severance payments or benefits under the Transition Agreement shall begin only upon the date of Ms. Drapeau’s
“separation from service” (determined as set forth below) which occurs on or after date of the termination of Ms. Drapeau’s employment. The following rules shall apply with respect to distribution of the payments and benefits, if
any, to be provided to Ms. Drapeau under the Transition Agreement: 
 1. It is intended that each installment of the severance payments and benefits
provided under the offer letter shall be treated as a separate “payment” for purposes of Section 409A of the Internal Revenue Code and the guidance issued thereunder (“Section 409A”). Neither the Company nor Ms. Drapeau
shall have the right to accelerate or defer the delivery of any such payments or benefits except to the extent specifically permitted or required by Section 409A. 
 2. If, as of the date of Ms. Drapeau’s “separation from service” from the Company, Ms. Drapeau is not a “specified employee” (within the meaning of Section 409A), then each
installment of the severance payments and benefits shall be made on the dates and terms set forth in the Transition Agreement. 
 3. If, as of the date of
Ms. Drapeau’s “separation from service” from the Company, Ms. Drapeau is a “specified employee” (within the meaning of Section 409A), then: 
 a. Each installment of the severance payments and benefits due under the Transition Agreement that,
in accordance with the dates and terms set forth herein, will in all circumstances, regardless of when the separation from service occurs, be paid within the Short-Term Deferral Period (as hereinafter defined) shall be treated as a short-term
deferral within the meaning of Treasury Regulation Section 1.409A-1(b)(4) to the maximum extent permissible under Section 409A. For purposes of this Transition Agreement, the “Short-Term Deferral Period” means the period ending
on the later of the 15th day of the third month following the end of Ms. Drapeau’s tax year in which the separation from service occurs
and the 15th day of the third month following the end of the Company’s tax year in which the separation from service occurs; and 
 b. Each installment of the severance payments and benefits due under the Transition Agreement that is not described in paragraph 3(a) above and that
would, absent this subsection, be paid within the six-month period following Ms. Drapeau’s “separation from service” from the Company shall not be paid until the date that is six months and one day after such separation from
service (or, if earlier, Ms. Drapeau’s death), with any such installments that are required to be delayed being accumulated during the six-month period and paid in a lump sum on the date that is six months and one day following
Ms. Drapeau’s separation from service and any subsequent installments, if any, being paid in accordance with the dates and terms set forth herein; provided, however, that the preceding provisions of this sentence shall not
apply to any installment of severance payments and benefits if and to the maximum extent that that such installment is deemed to be paid under a separation pay plan that does not provide 

  

 -5- 

 
for a deferral of compensation by reason of the application of Treasury Regulation 1.409A-1(b)(9)(iii) (relating to separation pay upon an involuntary
separation from service). Any installments that qualify for the exception under Treasury Regulation Section 1.409A-1(b)(9)(iii) must be paid no later than the last day of Ms. Drapeau’s second taxable year following the taxable year in
which the separation from service occurs. 
 4. The determination of whether and when Ms. Drapeau’s separation from service from the Company has
occurred shall be made and in a manner consistent with, and based on the presumptions set forth in, Treasury Regulation Section 1.409A-1(h). Solely for purposes of this paragraph 4, “Company” shall include all persons with whom the
Company would be considered a single employer under Section 414(b) and 414(c) of the Code. 
 5. All reimbursements and in-kind benefits provided under
the Transition Agreement shall be made or provided in accordance with the requirements of Section 409A to the extent that such reimbursements or in-kind benefits are subject to Section 409A. 
  

 -6-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}]]