Document:

EX-10(A)(II)

 

Exhibit 10(a)(ii)

Stock Option Award and Agreement

[DATE]

Dear                                         :

H. J. Heinz Company is pleased to advise you that, effective                     , you have been granted
options (“Options”) to purchase
                     shares of H. J. Heinz Company Common Stock, at an
exercise price of $                      per share, in accordance with the terms and conditions of the stock
option plan under which the Options were granted (the “Plan”), a copy of which is posted along with
a copy of the Prospectus. The Options are also granted under and governed by the terms and
conditions of this letter agreement (“Agreement”), which shall control in the event of a conflict
with the terms and conditions of the Plan. For purposes of this Agreement, the “Company” shall
refer to H. J. Heinz Company and its Affiliated Companies (as defined in Section 4 below) in the
United States and throughout the world. Unless otherwise specifically defined herein, all other
capitalized terms used in this Agreement shall have the same defined meanings as the capitalized
terms in the Second Amended and Restated H.J. Heinz Company Fiscal Year 2003 Stock Incentive Plan
(the “2003 Stock Incentive Plan”), which are hereby incorporated by reference into this Agreement
and a copy of which is posted along with this Agreement.

	1.	 	The Options are Non-Statutory Options, as defined in the Plan. The Options will vest in
                
     installments,    
                
               
      , and will expire on
                                        , subject to earlier expiration in accordance with the terms of this Agreement
or the Plan.
	 
	2.	 	Subject to paragraphs 3 and 4 of this Agreement, the exercise period for the Options,
including the effect of the termination of your employment with the Company or a “Change in
Control”, shall be governed by and determined in accordance with Section 8(B) of the 2003
Stock Incentive Plan, which is incorporated herein by reference and which shall control over
and supersede any additional, different or inconsistent terms or provisions contained in the
Plan; provided, however, that in the event of termination of your employment without “Cause”,
or by you for Good Reason, the “Expiration Date” shall be five years after the “Date of
Termination” or the date of expiration specified in Section 1 above, whichever is sooner.
Notwithstanding the foregoing, if your termination of employment is due to Retirement before
June 1, 2009, then all unvested Options granted to you under this Agreement shall expire on
your Date of Termination.
	 
	3.	 	You agree that you shall not, during the term of your employment by the Company and for 12
months after termination of your employment, regardless of the reason for the termination,
either directly or indirectly, solicit, take away or attempt to solicit or take away any other
employee of the Company, either for your own purpose or for any other person or entity. You
further agree that you

 

 

	 	 	shall not, during the term of your employment by the Company or at any time thereafter, use
or disclose Confidential Information (as defined in Section 4 below) except as directed by,
and in furtherance of the business purposes of, the Company. You acknowledge that the
breach or threatened breach of this paragraph 3 will result in irreparable injury to the
Company for which there is no adequate remedy at law because, among other things, it is not
readily susceptible of proof as to the monetary damages that would result to the Company.
You consent to the issuance of any restraining order or preliminary restraining order or
injunction with respect to any conduct by you that is directly or indirectly a violation or
a threatened violation of this paragraph. Any breach by you of the provisions of this
paragraph 3 will, at the option of the Company and in addition to all other rights and
remedies available to the Company at law, in equity or under this Agreement, result in the
forfeiture of all unexercised options granted to you under this Agreement as of the date of
such breach.
	 
	4.	 	As used in this paragraph 4, the following terms shall have the respective indicated
meanings:
	 
	 	 	“Affiliated Company or Companies” means any person, corporation, limited liability company,
partnership or other entity controlling, controlled by or under common control with the
Company.
	 
	 	 	“Confidential Information” means technical or business information not readily available to
the public or generally known in the trade, including but not limited to inventions; ideas;
improvements; discoveries; developments; formulations; ingredients; recipes; specifications;
designs; standards; financial data; sales, marketing and distribution plans, techniques and
strategies; customer and supplier information; equipment; mechanisms; manufacturing plans;
processing and packaging techniques; trade secrets and other confidential information,
knowledge, data and know-how of the Company, whether or not they originated with you, or
information which the Company received from third parties under an obligation of
confidentiality.
	 
	 	 	“Conflicting Product” means any product or process of any person or organization, other than
the Company, in existence or under development, (1) that competes with a product or process
of the Company upon or with which you shall have worked during the two years prior to the
termination of your employment with the Company or (2) whose use or marketability could be
enhanced by application to it of Confidential Information acquired by you in connection with
your employment by the Company during such two year period. For purposes of this
definition, it shall be conclusively presumed that you have knowledge of information to
which you have been directly exposed through actual receipt or review of memorandum or
documents containing such information or through actual attendance at meetings at which such
information was discussed or disclosed.

 

 

	 	 	“Conflicting Organization” means any person or organization that is engaged in or about to
become engaged in research on or the development, production, marketing or selling of or the
use in production, marketing or sale of a Conflicting Product.
	 
	 	 	In partial consideration for the Options granted to you hereunder, you agree that, for a
period of eighteen (18) months following the date of the termination of your employment with
the Company, you shall not render services, directly or indirectly, as a director, officer,
employee, agent, consultant or otherwise to any Conflicting Organization in any geographic
area or territory in which such Conflicting Organization is engaged in or about to become
engaged in the research on or the development, production, marketing or sale of or the use
in production, marketing or sale of a Conflicting Product. The foregoing limitation does
not apply to a Conflicting Organization whose business is diversified and that, as to that
part of its business to which you render services, is not engaged in the development,
production, marketing, use or sale of a Conflicting Product, provided that the Company shall
receive separate written assurances satisfactory to the Company from you and the Conflicting
Organization that you shall not render services during such period with respect to a
Conflicting Product or directly or indirectly provide or reveal Confidential Information to
such organization. If you shall render services to any Conflicting Organization other than
as expressly permitted herein or shall provide or reveal Confidential Information to such
Conflicting Organization, you shall (i) immediately return to the Company the pre-tax income
resulting from any exercise of the Options or any portion thereof by you, unless such
exercise occurred more than twelve (12) months prior to the date of the termination of your
employment; and (ii) forfeit any unexercised portion of the Options. You acknowledge and
agree that the restrictions set forth in this paragraph 4 are reasonable and necessary to
protect the goodwill and legitimate business interests of the Company and to prevent the
disclosure of the Company’s Confidential Information and trade secrets. If any of the
provisions herein shall for any reason be determined by a court of competent jurisdiction to
be overly broad as to scope of activity, duration or territory, such provision shall be
limited or reduced so as to be enforceable to the extent compatible with existing law.
	 
	5.	 	You acknowledge and agree that nothing in this Agreement, the Plan or the 2003 Stock
Incentive Plan shall confer upon you any right with respect to future awards or continuation
of your employment, nor shall it constitute an employment agreement or interfere in any way
with your right or the right of the Company to terminate your employment, with or without
cause, and with or without notice, subject to the terms of any written employment contract
that you may have with the Company that is signed by both you and an authorized representative
of the Company.
	 
	6.	 	You consent to the collection, use, and processing of personal data (including name, home
address and telephone number, identification number and number

 

 

of options held) by the Company or a third party engaged by the Company for the purpose of
implementing, administering and managing the Plan and other stock option plans of the
Company (the “Plans”). You further consent to the release of personal data (a) to such a
third party administrator, which, at the option of the Company, may be designated as the
exclusive broker in connection with the Plans, or (b) to any Affiliated Company, wherever
located. You hereby waive any data privacy rights with respect to such data to the extent
that receipt, possession, use, retention, or transfer of the data is authorized hereunder.

	7.	 	The Plan is discretionary in nature and the Company may modify, cancel or terminate it at any
time without prior notice. While stock options may be granted under any of the Company’s
Plans on one or more occasions or even on a regular schedule, each grant is a one time event,
is not an entitlement to an award of grants of stock options in the future, and does not
create any contractual or other right to receive an award of stock options, compensation or
benefits in lieu of stock options or any other compensation or benefits in the future.
	 
	8.	 	This Agreement shall be governed by and construed in accordance with the laws of the
Commonwealth of Pennsylvania, without regard to its choice of law provisions.

This grant of Options is subject to your on-line acceptance of the terms and conditions of this
Agreement through the Fidelity website.

	 	 	 	 	 
	 	H.J. HEINZ COMPANY

 	 
	 	By:  	 	 
	 	 	D.E.I. Smyth 	 
	 	 	Chief Administrative Officer and

Senior Vice President – Corporate &

Government Affairs 	 
	 

	 	 	 
	Accepted:

	 	Signed electronically
	 
	 	 
	Date:

	 	Acceptance DateEX-10(A)(III)

 

Exhibit 10(a)(iii)

Restricted Stock Unit Award and Agreement

[DATE]

Dear                                         :

H. J. Heinz Company is pleased to confirm that, effective as of                     , you have been granted an
award of Restricted Stock Units (“RSUs”) for Fiscal Year 2008 in accordance with the terms and
conditions of the Second Amended and Restated H.J. Heinz Company Fiscal Year 2003 Stock Incentive
Plan (the “Plan”). This Award is also made under and governed by the terms and conditions of this
letter agreement (“Agreement”), which shall control in the event of a conflict with the terms and
conditions of the Plan. For purposes of this Agreement, the “Company” shall refer to H. J. Heinz
Company and its Subsidiaries. Unless otherwise defined in this Agreement, all capitalized terms
used in this Agreement shall have the same meanings as the capitalized terms in the Plan, which are
hereby incorporated by reference into this Agreement.

	1.	 	RSU Award. You have been awarded a total of                      RSUs for Fiscal Year 2008.
	 
	2.	 	RSU Account. RSUs entitle you to receive a corresponding number of shares of H. J.
Heinz Company Common Stock (“Common Stock”) in the future, subject to the conditions and
restrictions set forth in this Agreement, including, without limitation, the vesting
conditions set forth in Paragraph 3 below. Your RSUs will be credited to a separate account
established and maintained by the Company on your behalf or by a third party engaged by the
Company for the purpose of implementing, administering and managing the Plan. Until the
Distribution Date (as defined herein), your RSUs are treated as unvested deferred compensation
amounts, the value of which is subject to change based on increases or decreases in the market
price of the Common Stock. Because the RSUs are not actual shares of Common Stock, you cannot
exercise voting rights on them until the Distribution Date.
	 
	3.	 	Vesting. You will become vested in the RSUs credited to your account according to
the following schedule:                                         .
	 
	4.	 	Termination of Employment. The termination of your employment with the Company will
have the following effect on your RSUs:

	 	(a)	 	Retirement prior to                                         . If the termination of your employment with the
Company is the result of Retirement prior to                                         , any RSUs granted
hereunder that remain unvested as of your Date of Termination shall be forfeited.
	 
	 	(b)	 	Disability or Involuntary Termination without Cause. If the termination of your
employment with the Company is the result of Disability or Involuntary Termination
without Cause, any RSUs granted hereunder that remain unvested as of

 

 

	 	 	 	your Date of
Termination shall continue to vest in accordance with the vesting schedule set forth in
Paragraph 3 above, subject to the requirements of Paragraph 5 of this Agreement, but in
no event later than the last business day of the month of the one year anniversary of
your Date of Termination.
	 
	 	(c)	 	Death. In the event that you should die while you are continuing to perform
services for the Company or following Retirement, any RSUs that remain unvested as of the
date of your death shall continue to vest in accordance with the vesting schedule set
forth in Paragraph 3 above, but in no event later than the last business day of the month
of the one year anniversary of your Date of Termination.
	 
	 	(d)	 	Good Reason. If your employment with the Company terminates for Good Reason, any
RSUs that remain unvested as of your Date of Termination shall vest as set forth in the
Plan.
	 
	 	(e)	 	Other Termination. If your employment with the Company terminates for any reason
other than as set forth in subparagraphs (a), (b) or (c) above, including without
limitation any voluntary termination of employment or an involuntary termination for
Cause, no further vesting will occur and you will immediately forfeit all of your rights
in any RSUs that remain unvested as of your Date of Termination.

	5.	 	Non-Solicitation/Confidential Information. In partial consideration for the RSUs
granted to you hereunder, you agree that you shall not, during the term of your employment by
the Company and for 12 months after termination of your employment, regardless of the reason
for the termination, either directly or indirectly, solicit, take away or attempt to solicit
or take away any other employee of the Company, either for your own purpose or for any other
person or entity. You further agree that you shall not, during the term of your employment by
the Company or at any time thereafter, use or disclose the Confidential Information (as
defined below) except as directed by, and in furtherance of the business purposes of, the
Company. You acknowledge that the breach or threatened breach of this Paragraph 5 will result
in irreparable injury to the Company for which there is no adequate remedy at law because,
among other things, it is not readily susceptible of proof as to the monetary damages that
would result to the Company. You consent to the issuance of any restraining order or
preliminary restraining order or injunction with respect to any conduct by you that is
directly or indirectly a breach or threatened breach of this Paragraph 5. Any breach by you
of the provisions of this Paragraph 5 will, at the option of the Company and in addition to
all other rights and remedies available to the Company at law, in equity or under this
Agreement, result in the immediate forfeiture of all of your rights in any RSUs that remain
unvested as of the date of such breach.
	 
	 	 	“Confidential Information” as used herein shall mean technical or business information not
readily available to the public or generally known in the trade, including but not limited
to inventions; ideas; improvements; discoveries; developments; formulations;

 

 

ingredients;
recipes; specifications; designs; standards; financial data; sales, marketing and
distribution plans, techniques and strategies; customer and supplier information; equipment;
mechanisms; manufacturing plans; processing and packaging techniques; trade secrets and
other confidential information, knowledge, data and know-how of the Company, whether or not
they originated with you, or information which the Company received from third parties under
an obligation of confidentiality.

	6.	 	Dividends. An amount equal to the dividends payable on the shares of Common Stock
represented by your unvested RSUs will be paid directly to you as soon as practicable
following the date on which a dividend is declared by the Company. These payments will be
calculated based upon the number of RSUs credited to your account as of the record date.
These payments will be reported as income to the applicable taxing authorities, and federal,
state, local and/or foreign income and/or any employment taxes will be withheld from such
payments as and to the extent required by applicable law.
	 
	7.	 	Distribution. All RSU distributions will be made in the form of actual shares of
Common Stock and will be distributed to you on one of the following dates (each, a
“Distribution Date”):

	 	(a)	 	Default Distribution Date. Shares of Common Stock representing your RSUs will
be distributed to you on the date the RSUs vest, or, if such date is not a business
day, on the next business day, unless you have already made an election to defer
receipt to a later date, as provided in subparagraph (b) below.
	 
	 	(b)	 	Deferred Distribution Date. You may have elected to defer distribution of your
RSUs to a date subsequent to the Default Distribution Date by providing a written
election form to the Company in accordance with the provisions of Internal Revenue Code
Section 409A.
	 
	 	(c)	 	Section 16 Reporting Person Exception. If you are a reporting person of the
Company under Section 16 of the Securities Act of 1934 on the Distribution Date, the
Distribution Date will automatically be deferred to the close of business on the day
following the last day of your employment with the Company.
	 
	 	(d)	 	Specified Employee. If you are a “specified employee,” as defined in Internal
Revenue Code section 409A(a)(2)(B)(i) on your deferred distribution date, your
distribution will be automatically deferred until the date that is six (6) months after
your “separation from service,” regardless of your deferred distribution election.

Subject to Paragraph 7(d), certificates representing the distributed shares of Common Stock
will be delivered to the firm maintaining your account as soon as practicable after a
Distribution Date occurs. Notwithstanding the foregoing, and subject to Paragraph 7(d), all
vested
RSUs will be immediately distributed to you at the close of business on the day
following the last day of your employment with the Company, or as soon as practicable
thereafter, if you terminate employment with the Company for any reason and deferred

 

 

	 	 	RSUs
that vest after the date of your termination will be immediately distributed to you as they
vest, despite any deferral election. Notwithstanding the foregoing, RSU distributions will
be made at a date other than as described above to the extent necessary to comply with the
requirements of Internal Revenue Code section 409A.
	 
	8.	 	Impact on Benefits. To the extent that your RSU Award is or is related
to an annual RSU award, the face value of the award on the date of the
grant (the number of RSUs multiplied by the closing price, as listed
on the New York Stock Exchange, of the shares of Common Stock
represented by the RSUs on the date of the grant) will be included as
compensation for the year of the grant for purposes of the H.J. Heinz
Company Supplemental Executive Retirement Plan and the H.J. Heinz
Company Employees Retirement and Savings Excess Plan, regardless of
whether or not the RSUs subsequently vest.
	 
	9.	 	Tax Withholding. On the Distribution Date, the Company will withhold a
number of shares of Common Stock that is equal, based on the Fair
Market Value of the Common Stock on the Distribution Date, to the
amount of the federal, state, local, and/or foreign income and/or
employment taxes required to be collected or withheld with respect to
the distribution, or make arrangements satisfactory to the Company for
the collection thereof.
	 
	10.	 	Non-Transferability. Your RSUs may not be sold, transferred, pledged,
assigned or otherwise encumbered except by will or the laws of descent
and distribution. You may also designate a beneficiary(ies) in the
event that you die before a Distribution Date occurs, who shall
succeed to all your rights and obligations under this Agreement and
the Plan. If you do not designate a beneficiary, your RSUs will pass
to the person or persons entitled to receive them under your will. If
you shall have failed to make a testamentary disposition of your RSUs
in your will or shall have died intestate, your RSUs will pass to the
legal representative or representatives of your estate.
	 
	11.	 	Employment At-Will. You acknowledge and agree that nothing in this
Agreement or the Plan shall confer upon you any right with respect to
future awards or continuation of your employment, nor shall it
constitute an employment agreement or interfere in any way with your
right or the right of Company to terminate your employment at any
time, with or without cause, and with or without notice.
	 
	12.	 	Collection and Use of Personal Data. You consent to the
collection, use, and
processing of personal data
(including name, home
address and telephone
number, identification
number and number of RSUs
held) by the Company or a
third party engaged by the
Company for the purpose of
implementing, administering
and managing the Plan and
any other stock option or
stock incentive plans of the
Company (the “Plans”). You
further consent to the
release of personal data to
such a third party
administrator, which, at the
option of the Company, may
be designated as the
exclusive broker in
connection with the Plans.
You hereby waive any data
privacy rights with respect
to such data to the extent
that receipt, possession,
use, retention, or transfer
of the data is authorized
hereunder.

 

 

	13.	 	Future Awards. The Plan is discretionary in nature and the Company may modify,
cancel or terminate it at any time without prior notice in accordance with the terms of the
Plan. While RSUs or other awards may be granted under the Plan on one or more occasions or
even on a regular schedule, each grant is a one time event, is not an entitlement to an award
of RSUs in the future, and does not create any contractual or other right to receive an award
of RSUs, compensation or benefits in lieu of RSUs or any other compensation or benefits in the
future.
	 
	14.	 	Compliance with Stock Ownership Guidelines. All RSUs granted to you under this
Agreement shall be counted as shares of Common Stock that are owned by you for purposes of
satisfying the minimum share requirements under the Company’s Stock Ownership Guidelines
(“SOG”). Notwithstanding the foregoing, you acknowledge and agree that, with the exception of
the number of shares of Common Stock withheld to satisfy income tax withholding requirements
pursuant to Paragraph 9 above, the shares of Common Stock represented by the RSUs granted to
you hereunder cannot be sold or otherwise transferred, even after the Distribution Date,
unless and until you have met SOG’s minimum share ownership requirements. The Management
Development & Compensation Committee will not approve additional RSU awards to you unless you
are in compliance with the terms of this Paragraph 14 and the SOG requirements.
	 
	15.	 	Governing Law. This Agreement shall be governed by and construed in accordance with
the laws of the Commonwealth of Pennsylvania, without regard to its choice of law provisions.

 

 

This RSU Award is subject to your on-line acceptance of the terms and conditions of this
Agreement through the Fidelity website.

	 	 	 	 	 
	 	H. J. HEINZ COMPANY 

 	 
	 	By:  	/s/ D.E.I.Smyth
 	 
	 	 	D.E.I. Smyth 	 
	 	 	Chief Administrative Officer and Senior Vice 

President – Corporate & Government Affairs 	 
	 

	 	 	 	 	 
	Accepted:
	 	 	 	 
	 

	 	 

	 	 
	Date:

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