Document:

Form of Notice and Nonqualified Stock Option Agreement

 Exhibit 10.345 
 THE CHARLES SCHWAB CORPORATION 
 2004 STOCK INCENTIVE PLAN 

NOTICE OF NONQUALIFIED STOCK OPTION GRANT 
 You have been granted the following option to purchase Common Stock of The Charles Schwab Corporation (“Schwab”) under the Charles Schwab Corporation 2004 Stock Incentive Plan (the
“Plan”). A stock option represents the right to purchase shares of Schwab common stock at a fixed price, called the exercise price, within a certain period of time. Your option is granted subject to the following terms:

  

			
	Name of Recipient:	  	
		
	Total Number of Shares Granted:	  	
		
	Exercise Price Per Share:	  	
		
	Grant Date:	  	
		
	Expiration Date:	  	
		
	Vesting Schedule	  	 So long as you remain employed in good standing by Schwab or its subsidiaries and subject to the terms of the Nonqualified Stock
Option Agreement, you will acquire the right to exercise this option (become “vested” in this option) on the following dates and in the following amounts:
  

Number of Shares on Vesting Date:

 You and Schwab agree that this option is granted under and governed by the terms and conditions of the Plan and the
Nonqualified Stock Option Agreement, both of which are made a part of this notice. Please review the Nonqualified Stock Option Agreement and the Plan carefully, as they explain the terms and conditions of this option. You agree that Schwab may
deliver electronically all documents relating to the Plan or this option (including, without limitation, prospectuses required by the Securities and Exchange Commission) and all other documents that Schwab is required to deliver to its stockholders.

  
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 THE CHARLES SCHWAB CORPORATION 

2004 STOCK INCENTIVE PLAN 
 NONQUALIFIED STOCK OPTION AGREEMENT 
  

			
	Tax Treatment	  	This option is a nonqualified stock option and is not intended to qualify as an incentive stock option under federal tax laws.
		
	Vesting	  	 Subject to the provisions of this Agreement, this option becomes vested in installments as described in the Notice of Nonqualified Stock Option
Grant.

		
	Accelerated Vesting	  	 This option will become fully exercisable if your service with Schwab and its subsidiaries terminates on account of
your death or disability.
  
 This option will
become fully exercisable if your service with Schwab and its subsidiaries terminates on account of your retirement provided that your retirement occurs at least two years after the Grant Date indicated in the Notice of Nonqualified Stock Option
Grant.
  
 If, prior to the date your service
terminates, Schwab is subject to a “change in control” (as defined in the Plan document), this option will become fully exercisable immediately preceding the change in control. If Schwab’s Compensation Committee (or its
delegate) (the “Compensation Committee”) determines that a change in control is likely to occur, Schwab will advise you and this option will become fully exercisable as of the date 10 days prior to the anticipated date of the
change in control.

		
	Definition of Disability	  	 For all purposes of this Agreement, “disability” means that you have a disability such that you have been determined to be eligible
for benefits under Schwab’s long-term disability plan or if you are not covered by Schwab’s long-term disability plan, you are unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental
impairment which has lasted, or can be expected to last, for a continuous period of not less than 12 months or which can be expected to result in death as determined by Schwab in its sole discretion.

		
	Definition of Retirement	  	 For all purposes of this Agreement, “retirement” will mean any termination of employment with
Schwab and its subsidiaries for any reason other than death at any time after you attain age 55, but only if, at the time of your termination, you have been credited with at least 10 years of service.

 
 The phrase “years of service”
above has the same meaning given to it under the SchwabPlan Retirement Savings and Investment Plan (or any successor plan).

  
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	Exercise Procedures	  	You or your representative may exercise this option by following the procedures prescribed by Schwab. If this option is being exercised by your representative, your representative
must furnish proof satisfactory to Schwab of your representative’s right to exercise this option. After completing the prescribed procedures, Schwab will cause to be issued the shares purchased, which will be registered in the name of the
person exercising this option.
		
	Forms of Payment	  	 When you submit your notice of exercise, you must pay the option exercise price for the shares
you are purchasing. Payment may be made in one of the following forms:
  

•        Cash in your Schwab brokerage account in an
amount sufficient to cover the option exercise price of the shares and the required tax withholding. (this exercise method is sometimes referred to as “Exercise and Hold”).

 

•        Shares of Schwab stock that are surrendered
to Schwab. These shares will be valued at their fair market value on the date when the new shares are purchased. (This exercise method is sometimes referred to as a “Stock Swap.”)

 

•        By delivery (in a manner prescribed by
Schwab) of an irrevocable direction to Charles Schwab & Co., Inc. to sell shares of Schwab stock (including shares to be issued upon exercise of this option) and to deliver all or part of the sale proceeds to Schwab in payment of all or part of
the exercise price. (This exercise method is sometimes referred to as “Exercise and Sell” or “Sell to Cover.”)

		
	Term	  	 This option expires no later than the Expiration Date specified in the Notice of Nonqualified Stock Option Grant but may expire earlier upon your termination
of service, as described below.

		
	Termination of Service	  	 This option will expire on the date three months following the date of your termination of employment with Schwab and
its subsidiaries for any reason other than on account of death, disability or retirement. The terms “disability” and “retirement” are defined above.

 
 If you cease to be an employee of Schwab and its
subsidiaries by reason of your disability or death, then this option will expire on the first anniversary of the date of your death or disability.
  

If you cease to be an employee of Schwab and its subsidiaries by reason of your retirement, then this option will expire on the second
anniversary of the date of your retirement.

		
	Effect of Entitlement to Severance	  	 If you are entitled to severance benefits under The Charles Schwab Severance Pay Plan (or any successor plan), then vesting of this option shall be determined
under the terms of that plan.

  
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	Cancellation of Options	  	 To the fullest extent permitted by applicable laws, this option will immediately be cancelled and expire in the event that Schwab terminates your employment on
account of conduct contrary to the best interests of Schwab, including, without limitation, conduct constituting a violation of law or Schwab policy, fraud, theft, conflict of interest, dishonesty or harassment. The determination whether your
employment has been terminated on account of conduct inimical to the best interests of Schwab shall be made by Schwab in its sole discretion.

		
	Withholding Taxes and Stock Withholding	  	 You will not be allowed to exercise this option unless you make arrangements acceptable to Schwab to pay any applicable withholding of income and employment
taxes that may be due as a result of the option exercise. With Schwab’s consent, these arrangements may include without limitation withholding shares of Schwab stock that otherwise would be issued to you when you exercise this
option.

		
	Restrictions on Exercise and Issuance or Transfer of Shares	  	 You cannot exercise this option and no shares of Schwab stock may be issued under this option if the issuance of shares at that time would violate any
applicable law, regulation or rule. Schwab may impose restrictions upon the sale, pledge or other transfer of shares (including the placement of appropriate legends on stock certificates) if, in the judgment of Schwab and its counsel, such
restrictions are necessary or desirable to comply with applicable law, regulations or rules.

		
	Stockholder Rights	  	 You, or your estate or heirs, have no rights as a stockholder of Schwab until you have exercised this option by giving the required notice to Schwab and
paying the exercise price. No adjustments are made for dividends or other rights if the applicable record date occurs before you exercise this option, except as described in the Plan.

		
	No Right to Employment	  	 Nothing in this Agreement will be construed as giving you the right to be retained as an employee, consultant or director of Schwab and its subsidiaries for
any specific duration or at all.

		
	Transfer of Option	  	 In general, only you may exercise this option prior to your death. You may not transfer or assign this option, except as provided below. For instance, you may
not sell this option or use it as security for a loan. If you attempt to do any of these things, this option will immediately become invalid.

		
		  	 You may dispose of this option in your will or in a beneficiary designation. You may designate one or more
beneficiaries by filing a beneficiary designation form. You may change your beneficiary designation by filing a new form with Schwab at any time prior to your death. If you do not designate a beneficiary or if your designated beneficiary predeceases
you, then your options will be exercisable by your estate.
  
 Schwab may, in its sole discretion, allow you to transfer this option under a domestic relations order in settlement of marital or domestic

  
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		  	 property rights. In order to transfer this option, you and the transferee(s) must execute the forms prescribed by Schwab, which include the consent of the
transferee(s) to be bound by this Agreement.

		
	Limitation on Payments	  	 If a payment from the Plan would constitute an excess parachute payment or if there have been certain securities law
violations, then your grant may be reduced or cancelled and you may be required to disgorge any profit that you have realized from your grant.
  

If a disqualified individual receives a payment or transfer under the Plan that would constitute an excess parachute payment under the
Internal Revenue Code of 1986, as amended (the “Code”), such payment will be reduced, as described below. Generally, someone is a “disqualified individual” under section 280G if he or she is (a) an
officer of Schwab, (b) a member of the group consisting of the highest paid 1% of the employees of Schwab or, if less, the highest paid 250 employees of Schwab, or (c) a 1% stockholder of Schwab. For purposes of the section on “Limitation on
Payments,” the term “Schwab” will include affiliated corporations to the extent determined by the Auditors in accordance with section 280G(d)(5) of the Code.

 
 In the event that the independent auditors most recently
selected by the Schwab Board of Directors (the “Auditors”) determine that any payment or transfer in the nature of compensation to or for your benefit, whether paid or payable (or transferred or transferable) pursuant to the
terms of the Plan or otherwise (a “Payment”), would be nondeductible for federal income tax purposes because of the provisions concerning “excess parachute payments” in section 280G of the Code, then the aggregate
present value of all Payments will be reduced (but not below zero) to the Reduced Amount; provided, however, that the Compensation Committee may specify in writing that the grant will not be so reduced and will not be subject to reduction under this
section.
  
 For this purpose, the
“Reduced Amount” will be the amount, expressed as a present value, which maximizes the aggregate present value of the Payments without causing any Payment to be nondeductible by Schwab because of section 280G of the
Code.
  
 If the Auditors determine that any
Payment would be nondeductible because of section 280G of the Code, then Schwab will promptly give you notice to that effect and a copy of the detailed calculation and of the Reduced Amount. You may then elect, in your discretion, which and how much
of the Payments will be eliminated or reduced (as long as after such election, the aggregate present value of the Payments equals the Reduced Amount). You will advise Schwab in writing of your election within 10 days of receipt of the notice. If you
do not make such an election within the 10-day period, then Schwab may elect which and how much of the Payments will be eliminated or reduced (as long as after such election the aggregate present value of

  
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		  	 the Payments equals the Reduced Amount). Schwab will notify you promptly of its election. Present value will be
determined in accordance with section 280G(d)(4) of the Code. The Auditors’ determinations will be binding upon you and Schwab and will be made within 60 days of the date when a Payment becomes payable or transferable.

 
 As promptly as practicable following these determination
and elections, Schwab will pay or transfer to or for your benefit such amounts as are then due to you under the Plan, and will promptly pay or transfer to or for your benefit in the future such amounts as become due to you under the Plan.

 
 As a result of uncertainty in the application of section
280G of the Code at the time of an initial determination by the Auditors, it is possible that Payments will have been made by Schwab which should not have been made (an “Overpayment”) or that additional Payments which will
not have been made by Schwab could have been made (an “Underpayment”), consistent in each case with the calculation of the Reduced Amount. In the event that the Auditors, based upon the assertion of a deficiency by the
Internal Revenue Service against you or Schwab which the Auditors believe has a high probability of success, determine that an Overpayment has been made, such Overpayment will be treated for all purposes as a loan to you which you will repay to
Schwab on demand, together with interest at the applicable federal rate provided in section 7872(f)(2) of the Code. However, no amount will be payable by you to Schwab if and to the extent that such payment would not reduce the amount which is
subject to taxation under section 4999 of the Code. In the event that the Auditors determine that an Underpayment has occurred, such Underpayment will promptly be paid or transferred by Schwab to or for your benefit, together with interest at the
applicable federal rate provided in section 7872(f)(2) of the Code.

		
	Claims Procedure	  	 You may file a claim for benefits under the Plan by following the procedures prescribed by Schwab. If your claim is denied, generally you will receive written
or electronic notification of the denial within 90 days of the date on which you filed the claim. If special circumstances require more time to make a decision about your claim, you will receive notification of when you may expect a decision. You
may appeal the denial by submitting to the Plan Administrator a written request for review within 30 days of receiving notification of the denial. Your request should include all facts upon which your appeal is based. Generally, the Plan
Administrator will provide you with written or electronic notification of its decision within 90 days after receiving the review request. If special circumstances require more time to make a decision about your request, you will receive notification
of when you may expect a decision.

		
	Plan	  	 The Plan Administrator has discretionary authority to make all

  
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	Administration	  	 determinations related to this option and to construe the terms of the Plan, the Notice of Nonqualified Stock Option Grant and this Agreement. The Plan
Administrator’s determinations are conclusive and binding on all persons.

		
	Adjustments	  	 In the event of a stock split, a stock dividend or a similar change in Schwab stock, the Compensation Committee, in its discretion, may adjust the number of
shares covered by this option and the exercise price per share.

		
	Severability	  	 In the event that any provision of this Agreement is held invalid or unenforceable, the provision will be severable from, and such invalidity or
unenforceability will not be construed to have any effect on, the remaining provisions of this Agreement.

		
	Applicable Law	  	 This Agreement will be interpreted and enforced under the laws of the State of Delaware (without regard to their choice-of-law provisions), as such laws are
applied to contracts entered into and performed in Delaware.

		
	The Plan and Other Agreements	  	 The text of the Plan is incorporated in this Agreement by reference. This Agreement, the Notice of Nonqualified Stock Option Grant and the Plan constitute the
entire understanding between you and Schwab regarding this option. Any prior agreements, commitments or negotiations concerning this option are superseded. This Agreement may be amended only by another written agreement approved by the Compensation
Committee and signed by both parties. If there is any inconsistency or conflict between any provision of this Agreement and the Plan, the terms of the Plan will control. Nothing in this Agreement gives you the ability to negotiate or change the key
terms and conditions described above, in the Notice of Nonqualified Stock Option Grant and in the Plan.

 BY ACCEPTING THIS OPTION GRANT, 

YOU AGREE TO ALL OF THE TERMS AND CONDITIONS 
 DESCRIBED ABOVE AND IN THE PLAN. 

  
 6Form of Notice and Resticted Stock Unit Agreement

 Exhibit 10.346 
 THE CHARLES SCHWAB CORPORATION 
 2004 STOCK INCENTIVE PLAN 

NOTICE OF RESTRICTED STOCK UNIT GRANT 
 You have been granted Restricted Stock Units. A Restricted Stock Unit represents the right to receive, subject to certain conditions, a share of Common Stock of The Charles Schwab Corporation
(“Schwab”), under The Charles Schwab Corporation 2004 Stock Incentive Plan (the “Plan”). Your Restricted Stock Units are granted subject to the following terms: 

 

			
	Name of Recipient:	  	
		
	Total Number of Restricted Stock Units Granted:	  	
		
	Grant Date:	  	
		
	Vesting Schedule:	  	 So long as you remain in service in good standing and subject to the terms of the Restricted Stock Unit Agreement, the
Restricted Stock Units subject to this grant will become vested and distributable on the following dates and in the following amounts, subject to the restrictions below:

 
 Number of Restricted Stock Units on Vesting
Date:

 Restricted Stock Units are an unfunded and unsecured obligation of Schwab. Any vested Restricted Stock
Units will be paid in shares of Common Stock of The Charles Schwab Corporation (“Shares”) as provided in the Restricted Stock Unit Agreement. 
 You and Schwab agree that this grant is issued under and governed by the terms and conditions of the Plan and the Restricted Stock Unit Agreement, both of which are made a part of this notice. Please
review the Restricted Stock Unit Agreement and the Plan carefully, as they explain the terms and conditions of this grant. You agree that Schwab may deliver electronically all documents relating to the Plan or this grant (including, without
limitation, prospectuses required by the Securities and Exchange Commission) and all other documents that Schwab is required to deliver to its stockholders. By accepting this grant, you agree to all of the terms and conditions described above, in
the Restricted Stock Unit Agreement and in the Plan, and you have no right whatsoever to change or negotiate such terms and conditions. 

  
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 THE CHARLES SCHWAB CORPORATION 

2004 STOCK INCENTIVE PLAN 
 RESTRICTED STOCK UNIT AGREEMENT 
  

			
	Payment for Units	  	 No payment is required for the Restricted Stock Units that you are receiving. Restricted Stock Units are an unfunded and unsecured obligation of
Schwab.

		
	Vesting	  	 Subject to the provisions of this Agreement, a Restricted Stock Unit becomes vested and distributable as of the earliest
of the following:
  
 (1)     The applicable Vesting Date for the Restricted Stock Unit indicated in the Notice of Restricted Stock Unit Grant.

 

(2)     Your death.

 

(3)     Your disability.

 

(4)     Your separation from service, if the separation qualifies as a
retirement or a severance eligible termination (provided that vesting shall occur upon a severance eligible termination only to the extent provided in The Charles Schwab Severance Pay Plan (or any successor plan)).

 

(5)     A change in control.

 
 Unvested units will be considered “Restricted
Stock Units.” If your service terminates for any reason, then your Restricted Stock Units will be forfeited to the extent that they have not vested before the termination date and do not vest as a result of the termination. This means
that the Restricted Stock Units will immediately revert to Schwab. You will receive no payment for Restricted Stock Units that are forfeited. Schwab determines when your service terminates for this purpose. For all purposes of this Agreement,
“service” means continuous employment as a common-law employee of Schwab or a parent corporation or subsidiary of Schwab, and “subsidiary” means a subsidiary corporation as defined in section 424(f) of
the Internal Revenue Code of 1986, as amended (the “Code”).

		
	Definition of Fair Market Value	  	 “Fair market value” means the average of the high and low price of a Share (as defined below) as reported on the New York Stock Exchange
on the applicable determination date.

  
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	Definition of Disability	  	 For all purposes of this Agreement, “disability” means that you have a disability that qualifies as such under section 409A of the Code
and due to which you have been determined to be eligible for benefits under Schwab’s long-term disability plan or if you are not covered by Schwab’s long-term disability plan, you are unable to engage in any substantial gainful activity by
reason of any medically determinable physical or mental impairment which has lasted, or can be expected to last, for a continuous period of not less than 12 months or which can be expected to result in death as determined by Schwab in its sole
discretion.

		
	Definition of Retirement	  	 If you are an employee of Schwab and its subsidiaries, “retirement” means a separation from
service for any reason other than death at any time after you attain age 55, but only if, at the time of your separation, you have been credited with at least 10 years of service and have completed at least two years of service after the Grant Date
indicated in the Notice of Restricted Stock Unit Grant.
  
 The phrase “years of service” above has the same meaning given to it under The SchwabPlan Retirement Savings and Investment Plan (or any successor plan).

		
	Definition of Severance Eligible Termination	  	 For all purposes of this Agreement, “severance eligible termination” means a separation from service entitling you to severance benefits
under The Charles Schwab Severance Pay Plan (or any successor plan).

		
	Definition of Change in Control	  	 For all purposes of this Agreement, “change in control” means an event that qualifies as a change in control event under section 409A of
the Code and as a change in control as defined in the Plan.

		
	Definition of Separation From Service	  	 For all purposes of this Agreement, “separation from service” means a separation from service as defined under section 409A of the
Code.

		
	Payment of Shares	  	 Any vested Restricted Stock Units will be paid in shares of Common Stock of The Charles Schwab Corporation
(“Shares”) as provided herein. Shares that have become vested and distributable under this Agreement shall be distributed as follows:
  

(1)     Shares that vest and become distributable on a Vesting

  
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		  	 Date shall be distributed within 30 days of the Vesting Date.

 

(2)     Shares that vest and become distributable on death, disability
or a change in control, shall be distributable within 90 days of such event.
  

(3)     Shares that vest and become distributable on a separation from
service (either a retirement or a severance eligible termination) shall be distributed within 90 days of the separation from service. Generally, for severance eligible terminations, the distribution date shall be the “termination date”
specified in the notice under The Charles Schwab Severance Pay Plan. Notwithstanding the foregoing, if at the time of your separation from service, you are a “specified employee”, you will receive your Shares six months after your
separation from service. “Specified Employee” means a “specified employee” within the meaning of section 409A of the Code and any regulatory guidance promulgated thereunder, provided that in determining the compensation of
individuals for this purpose, the definition of compensation in Treas. Reg. § 1.415(c)-2(d)(2) shall be used.
  

		
	Restrictions on Restricted Stock Units	  	 You may not sell, transfer, pledge or otherwise dispose of any Restricted Stock Units without Schwab’s written
consent. Schwab will deliver Shares to you only after the Restricted Stock Units vest and after all other terms and conditions in this Agreement have been satisfied.

 
 Schwab may, in its sole discretion, allow you to transfer these
Restricted Stock Units under a domestic relations order in settlement of marital or domestic property rights.
  
 In order to transfer these Restricted Stock Units, you and the transferee(s) must execute the forms prescribed by Schwab, which include the consent of the transferee(s) to be bound by this
Agreement.

		
	Delivery of Shares After Death	  	 In the event that Shares are distributable upon your death, the Shares will be delivered to your beneficiary or beneficiaries. You may designate one or more
beneficiaries by filing a beneficiary designation form. You may change your beneficiary designation by filing a new form with Schwab at any time prior to your death. If you do not designate
a

  
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		  	 beneficiary or if your designated beneficiary predeceases you, then your Shares will be delivered to your estate.

		
	Restrictions on Resale	  	 You agree not to sell any Shares at a time when applicable laws, Schwab’s policies or an agreement between Schwab and its underwriters prohibit a sale. This
restriction will apply as long as your service continues and for such period of time after the termination of your service as Schwab may specify.

		
	Withholding Taxes	  	 Shares will not be distributed unless you have made acceptable arrangements to pay any applicable withholding taxes that may be due as a result of the vesting
and or the distribution of the Shares. With Schwab’s consent, these arrangements may include withholding Shares. In its sole discretion, Schwab may withhold the minimum number of whole Shares, valued at the fair market value on the distribution
date, required to satisfy such applicable withholding taxes. Any residual amount of applicable withholding taxes, i.e., amounts of less than the fair market value of a Share, may be deducted from your pay. Notwithstanding the foregoing, any
withholding taxes due prior to distribution of Shares (e.g., under section 3121(v)(2) of the Code) shall be automatically deducted from your pay, and you may not make any election as to how these withholding taxes are paid. If withholding taxes are
due and you have terminated employment, applicable withholding taxes will be deducted from your Schwab brokerage account. You are responsible for having sufficient funds in your Schwab brokerage account to cover these withholding taxes at the time
they are due.

		
	No Stockholder Rights	  	 Your Restricted Stock Units carry no voting or other stockholder rights. You have no rights as a Schwab stockholder until your Restricted Stock Units are settled
by issuing Shares.

		
	Contribution of Par Value	  	 On your behalf, Schwab will contribute to its capital an amount equal to the par value of the Shares issued to you.

		
	Dividend Equivalent Rights	  	 If Schwab pays cash dividends on Shares, you will receive cash equal to the dividend per Share multiplied by the number of unvested Restricted Stock Units. Each
such payment shall be made as soon as practicable following the payment of the actual dividend, but in no event beyond March 15th of the year following the year the actual dividend is paid.

  
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	No Right to Remain Employee	  	 Nothing in this Agreement will be construed as giving you the right to be retained as an employee, contingent worker or director of Schwab and its subsidiaries
for any specific duration or at all.

		
	Limitation on Payments	  	 If a payment from the Plan would constitute an excess parachute payment under section 280G of the Code or if there have
been certain securities law violations, then your grant may be reduced or forfeited and you may be required to disgorge any profit that you have realized from your grant.

 
 If a disqualified individual receives a payment or
transfer under the Plan that would constitute an excess parachute payment under section 280G of the Code, such payment will be reduced, as described below. Generally, someone is a “disqualified individual” under section 280G
if he or she is (a) an officer of Schwab, (b) a member of the group consisting of the highest paid 1% of the employees of Schwab or, if less, the highest paid 250 employees of Schwab, or (c) a 1% stockholder of Schwab. For purposes of the section on
“Limitation on Payments,” the term “Schwab” will include affiliated corporations to the extent determined by the independent auditors most recently selected by the Schwab Board of Directors (the
“Auditors”) in accordance with section 280G(d)(5) of the Code.
  
 In the event that the Auditors determine that any payment or transfer in the nature of compensation to or for your benefit, whether paid or payable (or transferred or transferable) pursuant to the terms
of the Plan or otherwise (a “Payment”), would be nondeductible for federal income tax purposes because of the provisions concerning “excess parachute payments” in section 280G of the Code, then the aggregate present
value of all Payments will be reduced (but not below zero) to the Reduced Amount; provided, however, that the Compensation Committee may specify in writing that the grant will not be so reduced and will not be subject to reduction under this
section.
  
 For this purpose, the
“Reduced Amount” will be the amount, expressed as a present value, which maximizes the aggregate present value of the Payments without causing any Payment to be nondeductible by Schwab because of section 280G of the
Code.
  
 If the Auditors determine that any
Payment would be nondeductible because of section 280G of the Code, then

  
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		  	 Schwab will promptly give you notice to that effect and a copy of the detailed calculation of the Reduced Amount. The
Auditors will determine which and how much of the Payments will be eliminated or reduced (such that the aggregate present value of the Payments equals the Reduced Amount). Schwab will notify you promptly of the Auditor’s determination. Present
value will be determined in accordance with section 280G(d)(4) of the Code. The Auditors’ determinations will be binding upon you and Schwab and will be made within 60 days of the date when a Payment becomes payable or transferable.

 
 As a result of uncertainty in the application of section
280G of the Code at the time of an initial determination by the Auditors, it is possible that Payments will have been made by Schwab which should not have been made (an “Overpayment”) or that additional Payments which will
not have been made by Schwab could have been made (an “Underpayment”), consistent in each case with the calculation of the Reduced Amount. In the event that the Auditors, based upon the assertion of a deficiency by the
Internal Revenue Service against you or Schwab which the Auditors believe has a high probability of success, determine that an Overpayment has been made, the amount of such Overpayment will be paid by you to Schwab on demand, together with interest
at the applicable federal rate provided in section 7872(f)(2) of the Code. However, no amount will be payable by you to Schwab if and to the extent that such payment would not reduce the amount which is subject to taxation under section 4999 of the
Code. In the event that the Auditors determine that an Underpayment has occurred, such Underpayment will promptly be paid or transferred by Schwab to or for your benefit, together with interest at the applicable federal rate provided in section
7872(f)(2) of the Code, provided that no such Underpayment related to Shares distributable under this Agreement shall be paid beyond the deadline for making such payments under section 409A of the Code.

		
	Claims Procedure	  	 You may file a claim for benefits under the Plan by following the procedures prescribed by Schwab. If your claim is denied, generally you will receive written or
electronic notification of the denial within 90 days of the date on which you filed the claim. If special circumstances require more time to make a decision about your claim, you will receive notification of when you may expect a decision. You may
appeal the denial by submitting to the Plan Administrator a written request for

  
 6 

			
		  	 review within 30 days of receiving notification of the denial. Your request should include all facts upon which your appeal is based. Generally, the Plan
Administrator will provide you with written or electronic notification of its decision within 90 days after receiving the review request. If special circumstances require more time to make a decision about your request, you will receive notification
of when you may expect a decision.

		
	Plan Administration	  	 The Plan Administrator has discretionary authority to make all determinations related to this grant and to construe the terms of the Plan, the Notice of
Restricted Stock Unit Grant and this Agreement. The Plan Administrator’s determinations are conclusive and binding on all persons.

		
	Adjustments	  	 In the event of a stock split, a stock dividend or a similar change in Schwab stock, the number of Restricted Stock Units that remain subject to forfeiture will
be adjusted accordingly.

		
	Severability	  	 In the event that any provision of this Agreement is held invalid or unenforceable, the provision will be severable from, and such invalidity or unenforceability
will not be construed to have any effect on, the remaining provisions of this Agreement.

		
	Applicable Law	  	 This Agreement will be interpreted and enforced under the laws of the State of Delaware (without regard to their choice-of-law provisions), as such laws are
applied to contracts entered into and performed in Delaware.

		
	The Plan and Other Agreements	  	 The text of the Plan is incorporated in this Agreement by reference. This Agreement, the Notice of Restricted Stock Unit Grant and the Plan constitute the entire
understanding between you and Schwab regarding this grant. Any prior agreements, commitments or negotiations concerning this grant are superseded. This Agreement may be amended only by another written agreement, signed by both parties and approved
by the Compensation Committee. If there is any inconsistency or conflict between any provision of this Agreement and the Plan, the terms of the Plan will control.

 BY ACCEPTING THIS GRANT, YOU AGREE TO ALL OF THE TERMS AND CONDITIONS DESCRIBED ABOVE AND IN THE PLAN.

  
 7

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