Document:

SEC Exhibit

Exhibit 10.2

ADVISORY AGREEMENT

THIS ADVISORY AGREEMENT (“Agreement”) is entered into by and between
Sam Yagan (“Advisor”) and Match Group, Inc., a Delaware corporation (the “Company”), and is effective January 1, 2016 (the “Effective Date”).

WHEREAS, the Company desires to establish its right to the services of Advisor, on the terms and conditions hereinafter set forth, and Advisor is willing to perform such services on such terms and conditions.

NOW, THEREFORE, in consideration of the mutual agreements hereinafter set forth, Advisor and the Company have agreed and do hereby agree as follows:

1.ADVISORY SERVICES.  As of the Effective Date: (i) Advisor shall commence performing advisory services for the Company and its subsidiaries in connection with a variety of issues and matters, including (but not limited to) those regarding the business, strategy and operations of the Company and its subsidiaries, creative and product innovation for the Company’s various brands, personnel matters and special projects, with the exact nature and scope of such services to be determined by the Company’s Chairman and/or board of directors from time to time; (ii) Advisor agrees to serve, when appointed, as Vice Chairman (in a non-executive capacity) of the Company’s board of directors; and (iii) Advisor hereby resigns from his position as the Company’s Chief Executive Officer (“CEO”), together with any and all other positions occupied by Advisor as an officer or employee of the Company or any subsidiary or affiliate of the Company.

		
	2.
	TERM AND TERMINATION.  The term of this Agreement shall be one (1) year, unless earlier terminated by either party by written notice given at least thirty (30) calendar days before the desired termination date (the “Term”) or extended by written agreement of the parties.

3.COMPENSATION.  Subject to the terms of Exhibit A hereto, the Company shall: (i) pay Advisor an annual advisory fee of $750,000, payable in bi-weekly installments over the course of the twelve (12) month period following the Effective Date; (ii) the Company shall vest, as of the Effective Date, those Company stock options listed on Exhibit B hereto, all of which were previously granted to Advisor in his capacity as an employee of the Company; (iii) the Company shall reimburse Advisor for Advisor’s reasonable business expenses incurred in connection with Advisor’s duties hereunder; and (iv) the Company shall permit Advisor to continue to use his laptop and any other equipment or devices issued to him by the Company as well as his Company email address.

4.NOTICES.  All notices and other communications under this Agreement shall be in writing and shall be given by first-class mail, certified or registered with return receipt requested, or by hand delivery, or by overnight delivery by a nationally recognized carrier, in each case to the applicable address set forth below, and any such notice is deemed effectively given when received by the recipient (or if receipt is refused by the recipient, when so refused):

		
	If to the Company:
	Match Group, Inc.

8300 Douglas Avenue, Suite 800
Dallas TX  75225

		
	If to Advisor:
	At the most recent address for Advisor on file at the Company.

Either party may change such party’s address for notices by notice duly given pursuant hereto.

5.GOVERNING LAW; JURISDICTION.  This Agreement and the legal relations thus created between the parties hereto (including, without limitation, any dispute arising out of or related to this Agreement) shall be governed by and construed under and in accordance with the internal laws of the State of Texas without reference to its principles of conflicts of laws. Any such dispute will be heard and determined before an appropriate federal court located in the State of Texas in Dallas County, or, if not maintainable therein, then in an appropriate Texas state court located in Dallas County, and each party hereto submits itself and its property to the non-exclusive jurisdiction of the foregoing courts with  respect to such disputes. Each party hereto: (i) agrees that service of process may be made by mailing a copy of any relevant document to the address of the party set forth above, (ii) waives to the fullest extent permitted by law any objection which it may now or hereafter have to the courts referred to above on the grounds of inconvenient forum or otherwise as regards any dispute between the parties hereto arising out of or related to this Agreement, (iii) waives to the fullest extent permitted by law any objection which it may now or hereafter have to the laying of venue in the courts referred to above as regards any dispute between the parties hereto arising out of or related to this Agreement and (iv) agrees that a judgment or order of any court referred to above in connection with any dispute between the parties hereto arising out of or related to this Agreement is conclusive and binding on it (subject to exhaustion of applicable appeals) and may be enforced against it in the courts of any other jurisdiction.

6.COUNTERPARTS. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.

7.TERMINATION OF PRIOR AGREEMENTS. This Agreement and any applicable agreements relating to Advisor’s Company and IAC/InterActiveCorp equity awards (subject to the terms herein) constitute the entire agreement between the parties and, as of the Effective Date, terminates and supersedes any and all prior agreements and understandings (whether written or oral) between the parties with respect to the subject matter of this Agreement.  Advisor acknowledges and agrees that neither the Company nor anyone acting on its behalf has made, and is not making, and in executing this Agreement, Advisor has not relied upon, any representations, promises or inducements except to the extent the same is expressly set forth in this Agreement.

8.ASSIGNMENT; SUCCESSORS. This Agreement is personal in its nature and none of the parties hereto shall, without the consent of the others, assign or transfer this Agreement or any rights or obligations hereunder; provided, that the Company may assign this Agreement to, or allow any of its obligations to be fulfilled by, or take actions through, any affiliate of the Company and, in the event of the merger, consolidation, transfer, or sale of all or substantially all of the assets of the Company (a “Transaction”) with or to any other individual or entity, this Agreement shall, subject to the provisions hereof, be binding upon and inure to the benefit of such successor and such successor shall discharge and perform all the promises, covenants, duties, and obligations of the Company hereunder, and in the event of any such assignment or Transaction, all references herein to the “Company” shall refer to the Company’s assignee or successor hereunder.

9.WITHHOLDING. The Company shall make such deductions and withhold such amounts from each payment and benefit made or provided to Advisor hereunder, as may be required from time to time by applicable law, governmental regulation or order.

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	10.
	SECTION 409A OF THE INTERNAL REVENUE CODE.

(a)This Agreement is not intended to constitute a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, and the rules and regulations issued thereunder (“Section 409A”).  It is intended that any amounts payable under this Agreement and the Company’s and Advisor’s exercise of authority or discretion hereunder shall comply with and avoid the imputation of any tax, penalty or interest under Section 409A of the Code. This Agreement shall be construed and interpreted consistent with that intent.

(b)To the extent that any reimbursement pursuant to this Agreement is taxable to Advisor, Advisor shall provide the Company with documentation of the related expenses promptly so as to facilitate the timing of the reimbursement payment contemplated by this paragraph, and any reimbursement payment due to Advisor pursuant to such provision shall be paid to Advisor on or before the last day of Advisor’s taxable year following the taxable year in which the related expense was incurred. Such reimbursement obligations pursuant to this Agreement are not subject to liquidation or exchange for another benefit and the amount of such benefits that Advisor receives in one taxable year shall not affect the amount of such benefits that Advisor receives in any other taxable year.

(c)In no event shall the Company be required to pay Advisor any “gross-up” or other payment with respect to any taxes or penalties imposed under Section 409A with respect to any benefit paid to Advisor hereunder. The Company agrees to take any reasonable steps requested by Advisor to avoid adverse tax consequences to Advisor as a result of any benefit to Advisor hereunder being subject to Section 409A, provided that Advisor shall, if requested, reimburse the Company for any incremental costs (other than incidental costs) associated with taking such steps.

		
	11.
	HEADING REFERENCES.  Section headings in this Agreement are included herein for convenience of reference only and shall not constitute a part of this Agreement for any other purpose.

12.REMEDIES FOR BREACH.  Each party (the “Non-Breaching Party”) expressly agrees and understands that it or he will notify the other party (the “Breaching Party”) in writing of any alleged breach of this Agreement by the Breaching Party, and if such breach is curable, the Breaching Party will have thirty (30) days from receipt of the Non-Breaching Party’s notice to cure any such breach.

Advisor expressly agrees and understands that the remedy at law for any breach by Advisor of the terms of Exhibit A will be inadequate and that damages flowing from such breach are not usually susceptible to being measured in monetary terms.  Accordingly, it is acknowledged that, upon Advisor’s violation of any provision of Exhibit A, the Company shall be entitled to obtain from any court of competent jurisdiction immediate injunctive relief and obtain a temporary order restraining any threatened or further breach as well as an equitable accounting of all profits or benefits arising out of such violation.  Nothing shall be deemed to limit the Company’s remedies at law or in equity for any breach by Advisor of any of the provisions of this Agreement, including Exhibits A and B, which may be pursued by or available to the Company.

13.WAIVER; MODIFICATION. Failure to insist upon strict compliance with any of the terms, covenants, or conditions hereof shall not be deemed a waiver of such term, covenant, or condition, nor shall any waiver or relinquishment of, or failure to insist upon strict compliance with, any right or power hereunder at any one or more times be deemed a waiver or relinquishment of such right or power at any other time or times. This Agreement shall not be modified in any respect except by a writing executed by each party hereto.

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14.SEVERABILITY.  In the event that a court of competent jurisdiction determines that any portion of this Agreement is in violation of any law or public policy, only the portions of this Agreement that violate such law or public policy shall be stricken.  All portions of this Agreement that do not violate any statute or public policy shall continue in full force and effect.  Further, any court order striking any portion of this Agreement shall modify the stricken terms as narrowly as possible to give as much effect as possible to the intentions of the parties under this Agreement.

[The Signature Page Follows]

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ACKNOWLEDGED AND AGREED:

	
					
	Date: January 1, 2016
	 
	MATCH GROUP, INC.

	 
	 
	 
	 
	/s/ Gregory Blatt

	 
	 
	By:
	 
	Gregory R. Blatt

	 
	 
	Title:
	 
	Chief Financial Officer

	
					
	 
	 
	ADVISOR

	 
	 
	 
	 
	/s/ Sam Yagan

	 
	 
	Sam Yagan

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Exhibit A

1.CONFIDENTIALITY.  Advisor acknowledges that, while performing advisory services for the Company, Advisor will occupy a position of trust and confidence. The Company, its subsidiaries and/or affiliates shall provide Advisor with “Confidential Information” as referred to below. Advisor shall not, except as may be required to perform advisory services hereunder or as required by applicable law, without limitation in time, communicate, divulge, disseminate, disclose to others or otherwise use, whether directly or indirectly, any Confidential Information regarding the Company and/or any of its subsidiaries and/or affiliates.

“Confidential Information” shall mean information about the Company or any of its subsidiaries or affiliates, and their respective businesses, employees, consultants, contractors, clients and customers that is not disclosed by the Company or any of its subsidiaries or affiliates for financial reporting purposes or otherwise generally made available to the public (other than by Advisor’s breach of the  terms hereof) and that was learned or developed by Advisor in the course of performing services for the Company or any of its subsidiaries or affiliates, including (without limitation) any proprietary knowledge, trade secrets, data, formulae, information and client and customer lists and all papers, resumes, and records (including computer records) of the documents containing such Confidential Information.  Advisor acknowledges that such Confidential Information is specialized, unique in nature and of great value to the Company and its subsidiaries or affiliates, and that such information gives the Company and its subsidiaries or affiliates a competitive advantage.  Advisor agrees to deliver or return to the Company, at the Company’s request at any time or upon termination or expiration of Advisor’s relationship with the Company or as soon thereafter as possible, all documents, computer tapes and disks, records, lists, data, drawings, prints, notes and written information (and all copies thereof)           furnished by the Company and its subsidiaries or affiliates or prepared by Advisor in the course of Advisor’s relationship with the Company and its subsidiaries or affiliates. As used in this Agreement, “subsidiaries” and “affiliates” shall mean any company controlled by, controlling or under common control with the Company.

2.NON-COMPETITION.  In consideration of this Agreement, and other good and valuable consideration provided hereunder, the receipt and sufficiency of which are hereby acknowledged by Advisor, Advisor hereby agrees and covenants that, during the Term and for so long as the Company is making bi-weekly advisory fee installment payments to Advisor, Advisor shall not, without the prior written consent of the Company, directly or indirectly, engage in or become associated with a Competitive Activity.

For purposes of this Section 2(b): (i) a “Competitive Activity” means any business or other endeavor involving Similar Products if such business or endeavor is in a country (including the United States) in which the Company (or any of its businesses) provides or planned to provide such Similar Products during Advisor’s previous employment with the Company and the Term; (ii) “Similar Products” means any products or services that are related to online dating; and (iii) Advisor shall be considered to have become “associated with a Competitive Activity” if Advisor becomes directly or indirectly involved as an owner, principal, employee, officer, director, independent contractor, representative, stockholder, financial backer, agent, partner, member, advisor, lender, consultant or in any other individual or representative capacity with any individual, partnership, corporation or other organization that is engaged in a Competitive Activity.

Exhibit A

Notwithstanding the foregoing, Advisor may make and retain investments, for investment purposes only, in less than one percent (1%) of the outstanding capital stock of any publicly-traded corporation engaged in a Competitive Activity if the stock of such corporation is either listed on a national stock exchange or on the NASDAQ National Market System if Advisor is not otherwise affiliated with such corporation and/or minority investments in any privately-held companies in which Advisor plays no active role as an advisor, employee, or board member.   Advisor acknowledges that Advisor’s covenants under this Section 2(b) are a material inducement to the Company’s entering into this Agreement.

For so long as Advisor serves as a member of the Company’s board of directors, if a given Competitive Activity permitted by this Section 2 conflicts with the Match Group, Inc., Code of Business Conduct and Ethics, then Advisor shall be prohibited from engaging in such Competitive Activity.

3.NON-SOLICITATION OF EMPLOYEES. Advisor recognizes that he will possess Confidential Information about other employees, consultants and contractors of the Company and its subsidiaries or affiliates relating to their education, experience, skills, abilities, compensation and benefits, and inter- personal relationships with suppliers to and customers of the Company and its subsidiaries or affiliates. Advisor recognizes that the information he will possess about these other employees, consultants and contractors is not generally known, is of substantial value to the Company and its subsidiaries or affiliates in developing their respective businesses and in securing and retaining customers, and will be acquired by Advisor because of Advisor’s relationship with the Company.  Advisor agrees that, during the Term and for so long as the Company is making bi-weekly advisory fee installment payments to Advisor, Advisor will not, directly or indirectly, hire or solicit or recruit any employee of: (i) the Company and/or (ii) its subsidiaries and/or affiliates with whom Advisor had/has direct contact during his previous employment with the Company or the Term, in each case, for the purpose of being employed by Advisor or by any business, individual, partnership, firm, corporation or other entity on whose behalf Advisor is acting as an agent, advisor, representative or employee and that Advisor will not convey any such Confidential Information or trade secrets about employees of the Company or any of its subsidiaries or affiliates to any other person except within the scope of Advisor performing services hereunder.

		
	4.
	NON-SOLICITATION OF BUSINESS PARTNERS. During the Term for so long as the Company is making bi-weekly advisory fee installment payments to Advisor, Advisor shall not, without the prior written consent of the Company, persuade or encourage any business partners or business affiliates of: (i) the Company and/or (ii) any of its subsidiaries and/or affiliates with whom Advisor had/has direct contact during his previous employment with the Company and the Term, in each case, to cease doing business with the Company and/or any of its subsidiaries and/or affiliates or to engage in any business competitive with the Company and/or its subsidiaries and/or affiliates.

5.OFFSET.  If Advisor performs advisory services for, or obtains employment with, a third party, during the Term and for so long as the Company is making bi-weekly advisory fee installment payments to Advisor, the amount of any remaining advisory fee installment payments shall be reduced by the amount of any fees and/or salary (but not, for the avoidance of doubt, any equity based compensation) earned by Advisor from such services or employment.  Advisor shall have an obligation to inform the Company regarding his performance of advisory services for and/or employment with third parties at any time during which the Company is obligated to make bi-weekly advisory fee installment payments to Advisor.

Exhibit B

In exchange for the general release below and other promises contained herein, the unvested stock options listed below shall vest as of the Effective Date and shall remain outstanding and exercisable through the later of whichever of the following dates is applicable (the “the Option Exercise                End Date”): (i) March 31, 2016, (ii) if Advisor serves as Vice Chairman (in a non-executive capacity) of the Company’s board of directors: (x) December 31, 2016, so long as Advisor continues to serve as a member of the Company’s board of directors through such date; or (y) the date on or prior to December 31, 2016 on which Advisor ceases to serves as a member of the Company’s board of directors; provided, however, that in no event will the Option Exercise End Date be later than the end of the applicable option term.

	
			
	# of Stock Options to
Vest at 1/1/16
	Grant Date
	Exercise Price

	620,986
	2/11/14
	$11.06

	407,701
	2/11/15
	$13.97

	271,801*
	2/11/15
	$13.97

* Vesting shall be further subject to the satisfaction of the relevant performance goals.

Also in exchange for the general release below and other promises contained herein, the vested stock options listed below shall remain outstanding and exercisable through the Option Exercise End Date (as such term is defined above).

	
			
	# of Vested Stock Options
Outstanding at 1/1/16
	Grant Date
	Exercise Price

	1,705,985
	6/8/11
	$6.99

	1,514,567
	12/17/12
	$8.20

	748,175
	2/11/14
	$11.06

General Release by Advisor

For and in consideration of the payments and promises made by the Company herein and other good and valuable consideration, you and your heirs, executors, administrators, trustees, legal representatives and assigns (collectively, the “Releasors”) hereby waive, release and forever discharge the Company and its affiliates, and its and their divisions, branches, predecessors, successors, assigns, and its and their past or present directors, officers, employees, agents, partners, members, stockholders, representatives, attorneys, consultants, independent contractors, trustees, administrators, insurers and fiduciaries, in their individual and representative capacities (collectively, the “Releasees”) of and from any and all actions, causes of action, complaints, charges, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims and demands (including attorneys’ fees, costs and disbursements actually incurred), whether known or unknown, at law or in equity, suspected or unsuspected, of every kind and nature whatsoever related to your employment with or severance from the Company, including without limitation with respect to wrongful or tortious termination, constructive discharge, breach of implied or express employment contracts and/or estoppel, discrimination and/or retaliation, libel, slander, non-payment of wages or other compensation, including grants of stock options or any other equity compensation, in each case, under any federal, state or local laws, statutes, rules or regulations of any type or description, including, without limitation: under Title VII of the Civil Rights Act; the Civil Rights Act of 1991; the Rehabilitation Act; the National Labor Relations Act; the Fair Labor Standards Act; the Americans With Disabilities Act; the Family Medical Leave Act; the Employee Retirement Income Security Act; and the Reconstruction Era Civil Rights Act; each as amended; and any other claim of discrimination, harassment or retaliation in employment

Exhibit B

(whether based on federal, state or local law, statutory or decisional), which the Releasors ever had, now have or hereafter can, shall or may have against the Releasees or any of them for, upon or by reason of any matter, cause or thing whatsoever from the beginning of the world to the date on which you sign this general release. Without limiting the generality of the foregoing, except as expressly set forth below, the Releasors expressly waive any right or claim for reinstatement of employment, backpay, interest, bonuses, damages, accrued vacation, accrued sick leave, medical, dental, optical or hospitalization benefits, accidental death and dismemberment coverage, long term disability coverage, stock or other interests in the Company or any affiliate thereof, life insurance benefits, overtime, severance pay and/or attorneys’ fees or costs with respect to or derivative of such employment with the Company or the severance thereof.

You acknowledge and agree that by virtue of the foregoing, you have waived any relief available to you (including without limitation, monetary damages, equitable relief and reinstatement) under any of the claims and/or causes of action waived in this general release.  Therefore you agree that you will not seek or accept any award or settlement from any source or proceeding (including, but not limited to, any proceeding brought by any other person or by any government agency) with respect to any claim or right waived in this general release.  Notwithstanding anything to the contrary set forth in this general release, you do not release, waive or discharge the Company from: (i) any claims to seek to enforce the Advisory Agreement between you and the Company, dated as of January 1, 2016, and/or any agreements relating to your Company and IAC/InterActiveCorp equity awards or (ii) any claims for indemnification or contribution with respect to any liability incurred by you as a director or officer of the Company.

For the purpose of implementing a full and complete release and discharge of the Releasees, you acknowledge that this general release is intended to include in its effect, without limitation, all claims or other matters described in this general release that neither party knows or suspects to exist in your favor at the time of execution hereof, and that this general release contemplates the extinguishment of any and all such claims or other such matters. The Releasees who are not a party to this Agreement are third party beneficiaries of this Agreement and are entitled to enforce its provisions.

You acknowledge and agree that, in deciding to execute this general release, you have read this general release and have had a reasonable period of time to consider its terms and effects and to ask any questions that you may have of anyone, and that you have executed this general release voluntarily and with full understanding of its terms and its effects on you, and that no fact, evidence, event or transaction currently unknown to you (but which may later become known to you) will affect in any way or manner the final and unconditional nature of this general release.  You further acknowledge that: (i) the general release provided for herein is granted in exchange for the receipt of consideration that exceeds the amount to which you would otherwise be entitled to receive upon the termination of your employment with the Company; (ii) the waiver of rights under this general release is knowing and voluntary; (iii) you are hereby advised by the Company in writing to consult with an attorney, tax and/or financial advisor of your choice before signing this general release and that the Company has not provided to you any legal, tax or financial advice in connection with the same; and (iv) you have had answered to your satisfaction any questions you have asked with regard to the meaning and significance of any terms or provisions of this general release. This general release will be effective as of the date on which you sign it (the “Effective Date”).  In the event that you do not accept this general release as set forth above, the obligation of the Company to with respect to the vesting of the stock options listed above shall immediately become null and void.

Exhibit B

BY SIGNING THIS GENERAL RELEASE, YOU STATE THAT:

(a)YOU HAVE READ THIS GENERAL RELEASE AND HAVE HAD SUFFICIENT TIME TO CONSIDER ITS TERMS;

(b)YOU UNDERSTAND ALL OF THE TERMS AND CONDITIONS OF THIS GENERAL RELEASE AND KNOW THAT YOU ARE GIVING UP IMPORTANT RIGHTS;

		
	(c)
	YOU AGREE WITH EVERYTHING IN THIS GENERAL RELEASE;

(d)YOU ARE AWARE OF YOUR RIGHT TO CONSULT WITH AN ATTORNEY BEFORE SIGNING THIS GENERAL RELEASE, HAVE BEEN ADVISED OF SUCH RIGHT AND IN FACT DID CONSULT WITH AN ATTORNEY;

(e)YOU HAVE SIGNED THIS GENERAL RELEASE KNOWINGLY AND VOLUNTARILY; AND

(f)THIS GENERAL RELEASE INCLUDES A RELEASE BY YOU OF ALL KNOWN AND UNKNOWN CLAIMS AS DESCRIBED ABOVE.

	
		
	 
	/s/ Sam Yagan

	Sam Yagan

	Date: January 1, 2016Exhibit

Exhibit 10.1

RESTRICTED STOCK UNIT AGREEMENT
PURSUANT TO THE
JASON INDUSTRIES, INC. 2014 OMNIBUS INCENTIVE PLAN
(Time-Vesting)
*  *  *  *  *

Participant:  __________________________                        

Grant Date:  __________________________                    

Number of Time-Vesting Restricted Stock Units Granted:  __________________

*  *  *  *  *

THIS RESTRICTED STOCK UNIT AWARD AGREEMENT (this “Agreement”), dated as of the Grant Date specified above, is entered into by and between Jason Industries, Inc. (f/k/a/ Quinpario Acquisition Corp.), a corporation organized in the State of Delaware (the “Company”), and the Participant specified above, pursuant to the Jason Industries, Inc. 2014 Omnibus Incentive Plan, as in effect and as amended from time to time (the “Plan”), which is administered by the Committee; and

WHEREAS, it has been determined under the Plan that it would be in the best interests of the Company to grant the Restricted Stock Units (“RSUs”) provided herein to the Participant.

NOW, THEREFORE, in consideration of the mutual covenants and promises hereinafter set forth and for other good and valuable consideration, the parties hereto hereby mutually covenant and agree as follows:
1.Incorporation By Reference; Plan Document Receipt.  This Agreement is subject in all respects to the terms and provisions of the Plan (including, without limitation, any amendments thereto adopted at any time and from time to time unless such amendments are expressly intended not to apply to the Award provided hereunder), all of which terms and provisions are made a part of and incorporated in this Agreement as if they were each expressly set forth herein.  Any capitalized term not defined in this Agreement shall have the same meaning as is ascribed thereto in the Plan.  The Participant hereby acknowledges receipt of a true copy of the Plan and that the Participant has read the Plan carefully and fully understands its content.  In the event of any conflict between the terms of this Agreement and the terms of the Plan, the terms of the Plan shall control.

2.Grant of Restricted Stock Unit Award.  The Company hereby grants to the Participant, as of the Grant Date specified above, the number of Time-Vesting RSUs specified above.  Except as otherwise provided by the Plan, the Participant agrees and understands that nothing contained in this Agreement provides, or is intended to provide, the Participant with any protection against potential future dilution of the Participant’s interest in the Company for any reason, and no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of the shares of Common Stock underlying the RSUs, except as otherwise specifically provided for in the Plan or this Agreement.

3.Vesting.

(a)Time-Vesting.  The Time-Vesting RSUs shall vest in three equal installments with the first vesting date being the first anniversary of the Grant Date, the second vesting date being the second anniversary of the Grant Date and the third vesting date being the third anniversary of the Grant Date, provided 

that the Participant has not incurred a Termination of Employment prior to the applicable vesting date.  There shall be no proportionate or partial vesting in the periods prior to each vesting date and all vesting shall occur only on the appropriate vesting date, subject to the Participant’s continued employment with the Company or any of its Subsidiaries on each applicable vesting date.  The foregoing provisions of this Section 3(a) are subject to the provisions of Sections 3(b) through 3(g) hereof.

(b)Committee Discretion to Accelerate Vesting. Notwithstanding any other provision herein to the contrary, the Committee may, in its sole discretion, provide for accelerated vesting of the RSUs at any time and for any reason.

(c)Involuntary Termination Without Cause; Voluntary Resignation For Good Reason. Subject to Section 3(e) hereof, if the Participant incurs a Termination of Employment by the Company without Cause or there is a voluntary Termination of Employment by the Participant with Good Reason, then a portion of the RSUs that would have become vested on the next anniversary of the Grant Date immediately following the date of such Termination of Employment had the Participant’s Termination not occurred shall become vested as of the date of such Termination.  For purposes of this Agreement, “Good Reason” means, with respect to a Participant’s Termination of Employment:  (A) in the case where there is an employment agreement or similar agreement in effect between the Company or an Affiliate and the Participant on the Grant Date that defines “good reason” (or words or a concept of like import, such as “Constructive Termination”), a termination due to good reason (or words or a concept of like import), as defined in such agreement; or (B) in any other case, the occurrence of any of the following events, without the Participant’s advance written consent: (I) any reduction in the Participant’s base salary; (II) any reduction in the Participant’s percentage of base salary available as incentive compensation or bonus opportunity,  unless such reduction occurs in connection with a corresponding increase in base salary; (III) a good faith determination by the Participant that there has been a material adverse change in the Participant’s working conditions or status with the Company or an Affiliate, including but not limited to (x) a significant negative change in the nature or scope of the Participant’s authority, powers, functions, duties or responsibilities, or (y) a significant reduction in the level of support services, staff, secretarial and other assistance, office space and accoutrements, or (z) a significant reduction in the authority, duties or responsibilities of the supervisor to whom the Participant is required to report; or (iv) the relocation of the Participant’s principal place of employment to a location more than fifty (50) miles from the Participant’s then-current principal place of employment with the Company or an Affiliate.  Notwithstanding the foregoing, a Participant’s termination shall not be considered to have occurred for “Good Reason” pursuant to clause (B) above, unless (i) within ninety (90) days following the occurrence of one of the events listed above the Participant provides written notice to the Company setting forth the specific event constituting Good Reason, (ii) the Company fails to remedy the event constituting Good Reason within thirty (30) days following its receipt of the Participant’s notice, and (iii) the Participant actually terminates his or her employment with the Company and its Affiliates within thirty (30) days following the end of the Company’s remedy period.

(d)Termination by Death or Disability. If the Participant’s Termination of Employment is due to the Participant’s death or Disability, then the RSUs shall become fully vested as of the date of such Termination.

(e)Termination in Connection with a Change in Control.  In the event of the Participant’s Termination of Employment (i) by the Company without Cause, or (ii) by voluntary resignation by the Participant with Good Reason, in each case, during the period beginning ninety (90) days prior to the date of consummation of a Change in Control and ending two years following the date of consummation of a Change in Control, then any unvested RSUs that would have been forfeited on the date of the Participant’s Termination shall become fully vested as of the date of such Termination.  

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(f)Voluntary Resignation. If the Participant’s Termination of Employment is voluntary other than with Good Reason, then all RSUs that are held by such Participant that are unvested shall terminate and expire as of the date of such Participant’s Termination.

(g)Termination for Cause. If the Participant’s Termination (i) is for Cause or (ii) is a voluntary Termination (as provided in Section 3(f)) after the occurrence of an event that is then grounds for a Termination for Cause, then all RSUs, whether vested or not vested, that are held by such Participant shall thereupon be forfeited and cancelled for no value without any consideration as of the date of such Termination.

(h)Termination of Unvested RSUs; Forfeiture.  Any portion of the RSUs that does not become vested in accordance with the provisions of this Section 3 shall be automatically forfeited and cancelled for no value without any consideration being paid therefor and otherwise without any further action of the Company whatsoever.  For the avoidance of doubt, any portion of the RSUs that does not become vested on or prior to the third anniversary of the Grant Date, shall be automatically forfeited and cancelled as of such date for no value without any consideration being paid therefor and otherwise without any further action of the Company whatsoever.

4.Delivery of Shares.  Within thirty (30) days following the date of vesting of RSUs, the Company shall issue to the Participant the number of shares of Common Stock, free and clear of all restrictions (other than as may apply under Section 9) that correspond to the number of RSUs that have become so vested on the applicable vesting date.

5.Dividends; Rights as Stockholder.  Cash dividends on shares of Common Stock issuable hereunder shall be credited to a dividend book entry account on behalf of the Participant with respect to each RSU granted to the Participant, provided that such cash dividends shall not be deemed to be reinvested in shares of Common Stock and shall be held uninvested and without interest and paid in cash at the same time that the shares of Common Stock underlying the RSUs are delivered to the Participant in accordance with the provisions hereof.  Stock dividends on shares of Common Stock shall be credited to a dividend book entry account on behalf of the Participant with respect to each RSU granted to the Participant, provided that such stock dividends shall be paid in shares of Common Stock at the same time that the shares of Common Stock underlying the RSUs are delivered to the Participant in accordance with the provisions hereof.  For the sake of clarity, in the event any portion of the unvested RSUs is forfeited and cancelled in accordance with this agreement or the Plan, any accrued dividends on shares of Common Stock underlying such forfeited RSUs shall be automatically forfeited for no value without any consideration being paid therefor and otherwise without any further action of the Company whatsoever.  Except as otherwise provided herein, the Participant shall have no rights as a stockholder with respect to any shares of Common Stock covered by any RSU unless and until the Participant has become the holder of record of such shares.

6.Non-Transferability.  No portion of the RSUs may be sold, assigned, transferred, encumbered, hypothecated or pledged by the Participant, other than to the Company as a result of forfeiture of the RSUs as provided herein, unless and until payment is made in respect of vested RSUs in accordance with the provisions hereof and the Participant has become the holder of record of the vested shares of Common Stock issuable hereunder.

7.Governing Law.  All questions concerning the construction, validity and interpretation of this Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without regard to the choice of law principles thereof.

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8.Withholding of Tax.  The Company shall have the power and the right to deduct or withhold, or require the Participant to remit to the Company, an amount sufficient to satisfy any federal, state, local and foreign taxes of any kind (including, but not limited to, the Participant’s FICA and SDI obligations) which the Company, in its sole discretion, deems necessary to be withheld or remitted to comply with the Code and/or any other applicable law, rule or regulation with respect to the RSUs and, if the Participant fails to do so, the Company may otherwise refuse to issue or transfer any shares of Common Stock otherwise required to be issued pursuant to this Agreement.  The foregoing provisions of this Section 8 to the contrary notwithstanding, the Participant may direct the Company to satisfy any such required withholding obligation with regard to the Participant by reducing the amount of cash or shares of Common Stock, having an aggregate Fair Market Value equal to the statutory minimum withholding obligation, otherwise deliverable to the Participant pursuant to Section 4.

9.Legend.  The Company may at any time place legends referencing any applicable federal, state or foreign securities law restrictions on all certificates representing shares of Common Stock issued pursuant to this Agreement, consistent with issuances to holders of shares of Common Stock other than pursuant to this Agreement.  The Participant shall, at the request of the Company, promptly present to the Company any and all certificates representing shares of Common Stock acquired pursuant to this Agreement in the possession of the Participant in order to carry out the provisions of this Section 9.

10.Securities Representations.  This Agreement is being entered into by the Company in reliance upon the following express representations and warranties of the Participant.  The Participant hereby acknowledges, represents and warrants that:

(a)The Participant has been advised that the Participant may be an “affiliate” within the meaning of Rule 144 under the Securities Act and in this connection the Company is relying in part on the Participant’s representations set forth in this Section 10.

(b)If the Participant is deemed an affiliate within the meaning of Rule 144 of the Securities Act, the shares of Common Stock issuable hereunder must be held indefinitely unless an exemption from any applicable resale restrictions is available or the Company files an additional registration statement (or a “re-offer prospectus”) with regard to such shares of Common Stock and the Company is under no obligation to register such shares of Common Stock (or to file a “re-offer prospectus”).

(c)If the Participant is deemed an affiliate within the meaning of Rule 144 of the Securities Act, the Participant understands that (i) the exemption from registration under Rule 144 will not be available unless (A) a public trading market then exists for the Common Stock of the Company, (B) adequate information concerning the Company is then available to the public, and (C) other terms and conditions of Rule 144 or any exemption therefrom are complied with, and (ii) any sale of the shares of Common Stock issuable hereunder may be made only in limited amounts in accordance with the terms and conditions of Rule 144 or any exemption therefrom.

11.Entire Agreement; Amendment.  This Agreement, together with the Plan, contains the entire agreement between the parties hereto with respect to the subject matter contained herein, and supersedes all prior agreements or prior understandings, whether written or oral, between the parties relating to such subject matter.  The Committee shall have the right, in its sole discretion, to modify or amend this Agreement from time to time to the extent permitted, without the Participant’s consent thereto, under the Plan.  This Agreement may also be modified or amended by a writing signed by both the Company and the Participant.  The Company shall give written notice to the Participant of any such modification or amendment of this Agreement as soon as practicable after the adoption thereof.

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12.Notices.  Any notice hereunder by the Participant shall be given to the Company in writing and such notice shall be deemed duly given only upon receipt thereof by the General Counsel of the Company.  Any notice hereunder by the Company shall be given to the Participant in writing and such notice shall be deemed duly given only upon receipt thereof at such address as the Participant may have on the payroll files with the Company.

13.No Right to Employment.  Any questions as to whether and when there has been a Termination and the cause of such Termination shall be determined in the sole discretion of the Committee.  Nothing in this Agreement shall interfere with or limit in any way the right of the Company, its Subsidiaries or its Affiliates to terminate the Participant’s employment or service at any time, for any reason and with or without Cause.

14.Transfer of Personal Data.  The Participant authorizes, agrees and unambiguously consents to the transmission by the Company (or any Subsidiary) of any personal data information related to the RSUs awarded under this Agreement for legitimate business purposes (including, without limitation, the administration of the Plan).  This authorization and consent is freely given by the Participant.

15.Compliance with Laws.  The grant of RSUs and the issuance of shares of Common Stock hereunder shall be subject to, and shall comply with, any applicable requirements of any foreign and U.S. federal and state securities laws, rules and regulations (including, without limitation, the provisions of the Securities Act, the Exchange Act and in each case any respective rules and regulations promulgated thereunder) and any other law, rule regulation or exchange requirement applicable thereto.  The Company shall not be obligated to issue the RSUs or any shares of Common Stock pursuant to this Agreement if any such issuance would violate any such requirements; provided, in such event as the Company is prohibited from issuing shares of Common Stock, the Company shall pay to the Participant (unless otherwise prohibited by law), within thirty (30) days following the date of vesting of RSUs, cash in an amount equal to the aggregate Fair Market Value of shares of Common Stock represented by such vested RSUs.  As a condition to the settlement of the RSUs, the Company may require the Participant to satisfy any qualifications that may be necessary or appropriate to evidence compliance with any applicable law or regulation.

16.Binding Agreement; Assignment.  This Agreement shall inure to the benefit of, be binding upon, and be enforceable by the Company and its successors and assigns and the Participant and the Participant’s heirs, executors, administrators, legal representatives and permitted assigns.  The Participant shall not assign (except in accordance with Section 6 hereof) any part of this Agreement without the prior express written consent of the Company.

17.Headings.  The titles and headings of the various sections of this Agreement have been inserted for convenience of reference only and shall not be deemed to be a part of this Agreement.

18.Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which shall constitute one and the same instrument.

19.Further Assurances.  Each party hereto shall do and perform (or shall cause to be done and performed) all such further acts and shall execute and deliver all such other agreements, certificates, instruments and documents as either party hereto reasonably may request in order to carry out the intent and accomplish the purposes of this Agreement and the Plan and the consummation of the transactions contemplated thereunder.

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20.Severability.  The invalidity or unenforceability of any provisions of this Agreement in any jurisdiction shall not affect the validity, legality or enforceability of the remainder of this Agreement in such jurisdiction or the validity, legality or enforceability of any provision of this Agreement in any other jurisdiction, it being intended that all rights and obligations of the parties hereunder shall be enforceable to the fullest extent permitted by law.

21.Acquired Rights.  The Participant acknowledges and agrees that: (a) the Company may terminate or amend the Plan at any time in accordance with the terms thereof as in effect on the Grant Date and not inconsistent with the provisions of Section 11 hereof; (b) the Award of RSUs made under this Agreement is completely independent of any other award or grant and is made at the sole discretion of the Company; (c) no past grants or awards (including, without limitation, the RSUs awarded hereunder) give the Participant any right to any grants or awards in the future whatsoever; and (d) any benefits granted under this Agreement are not part of the Participant’s ordinary salary, and shall not be considered as part of such salary in the event of severance, redundancy or resignation

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written above.

JASON INDUSTRIES, INC.

By:  ______________________________                    
      Name: __________________
Title: ___________________                        

PARTICIPANT

______________________________
Name: __________________ 

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