Document:

exv10w3

 

EXHIBIT 10.3

RESTRICTED STOCK

UNIT AWARD AGREEMENT

     This Restricted Stock Unit Award (“Award”) is executed on this ___ day of ______,
20___, by Offshore Logistics, Inc. (the “Company”) to <Insert Name of Grantee>
(the “Grantee”).

     WHEREAS, the Grantee has received the Award pursuant to Section 7 of the Offshore Logistics, Inc. 2004 Stock Incentive Plan, as amended (the “Plan”) (all
capitalized terms not defined herein shall have the meanings ascribed to them in the Plan);

     WHEREAS, on ______, 20___(the “Date of Grant”), the Compensation Committee of the
Board of Directors of the Company, who administers the Plan, authorized the granting of restricted
stock units of the Company subject to the terms and conditions set forth below;

     WHEREAS, the Award is a special grant of Company restricted stock units; and

     NOW, THEREFORE, in consideration of the mutual covenants contained herein and for other good
and valuable consideration, the Company hereby awards restricted stock units to the Grantee on the
following terms and conditions:

     1. Award of Restricted Stock Units. The Company hereby grants to the Grantee a total
of <Insert Amount> restricted stock units of the Company (the “Units”)
subject to the terms and conditions set forth below. The Award is intended to be “qualified
performance-based compensation” pursuant to Section 162(m) of the Internal Revenue Code of 1986, as
amended, and the Regulations thereunder.

     2. Restrictions. The Units are being awarded to the Grantee subject to the transfer
and forfeiture conditions set forth below (the “Restrictions”) which shall lapse, if at
all, as described in Section 3 below.

          a. The Grantee may not directly or indirectly, by operation of law or otherwise, voluntarily
or involuntarily, sell, assign, pledge, encumber, charge or otherwise transfer any of the Units
still subject to Restrictions. The Units shall be forfeited if the Grantee violates or attempts to
violate these transfer restrictions.

          b. Any Units still subject to the Restrictions shall be automatically forfeited upon (i) the
Grantee’s termination of employment with the Company for any reason, other than such a termination
by the Company without Cause or (ii) the date following the fifth anniversary of the Date of Grant.

          c. “Cause” means (i) “Cause” as that term is defined in the current employment agreement
between the Company and the Grantee or (ii) if there is no employment agreement between the Company
and the Grantee or if it does not define Cause: (A) indictment or formal charge of the Grantee
for, or plea of guilty or nolo contendere to, a felony, or a misdemeanor involving moral turpitude;
provided that any indictment or formal charge of a Grantee outside the United States shall not de
deemed “Cause” unless and until such foreign

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indictment or formal charge results in the Grantee’s conviction for such offense, (B)
dishonesty in the course of fulfilling the Grantee’s employment duties, (C) willful and deliberate
failure on the part of the Grantee to perform such Grantee’s employment duties in any material
respect.

The Company will not be obligated to pay the Grantee any consideration whatsoever for forfeited
Units.

     3. Lapse of Restrictions.

          a. The Restrictions applicable to the Units shall lapse, as long as the Units have not
previously been forfeited as described in Section 2 above, as follows:

     (i) On the third anniversary of the Date of Grant, the Restrictions
shall lapse on a percentage of the Units equal to the Third Anniversary
Achievement Percentage;

     (ii) On the fourth anniversary of the Date of Grant, the Restrictions
shall lapse on a percentage of the Units that are unvested immediately prior
to such fourth anniversary equal to the Fourth Anniversary Achievement
Percentage;

     (iii) On the fifth anniversary of the Date of Grant, the Restrictions
shall lapse on all Units that are unvested immediately prior to such fifth
anniversary, if the Fifth Anniversary Goal has been achieved;

     (iv) Upon the occurrence of any of the following events prior to the
fifth anniversary of the Date of Grant, the Restrictions shall lapse on all
Units: (1) a Change in Control, (2) a termination of the Grantee’s
employment with the Company by the Company without Cause, and (3) a
termination of the Grantee’s employment with the Company by the Grantee for
Good Reason.

          b. For purposes of this Section 3, the following terms shall have the following meanings:

     (i) The “Third Anniversary Achievement Percentage” shall equal
(1) zero, if the Company’s Cumulative Annual Shareholder Return during the
period commencing on the Date of Grant and concluding on the date
immediately preceding the third anniversary of the Date of Grant (the
“Third Anniversary Measurement Period”) is less than 10%, (2) 10%,
if the Company’s Cumulative Annual Shareholder Return during the Third
Anniversary Measurement Period equals 10%, (3) 55%, if the Company’s
Cumulative Annual Shareholder Return during the Third Anniversary
Measurement Period equals 12.5%, and (4) 100%, if the Company’s Cumulative
Annual Shareholder Return during the Third Anniversary Measurement Period
equals or exceeds 15%. If the Company’s Cumulative Annual Shareholder
Return during the Third Anniversary Measurement Period falls between 10% and
12.5%, the Third Anniversary Achievement Percentage shall be interpolated
between 10% and 55%, and

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if the Company’s Cumulative Annual Shareholder Return during the Third
Anniversary Measurement Period falls between 12.5% and 15%, the Third
Anniversary Achievement Percentage shall be interpolated between 55% and
100%.

     (ii) The “Fourth Anniversary Achievement Percentage” shall be
calculated in the same manner as the Third Anniversary Achievement
Percentage is calculated pursuant to Section 3(b)(i), substituting “Fourth
Anniversary” for each reference to “Third Anniversary” in such section.

     (iii) The “Fifth Anniversary Achievement Goal” shall be deemed
achieved if the Company’s Cumulative Annual Shareholder

     Return during the period commencing on the Date of Grant and concluding on
the date immediately preceding the fifth anniversary of the Date of Grant
(the “Third Anniversary Measurement Period”) equals or exceeds 3%.

     (iv) The Company’s “Cumulative Annual Shareholder Return” for any
period shall be determined by calculating the Company’s Total Shareholder
Return for such period, and determining the compound annualized value of
such Total Shareholder Return. For example, if the Total Shareholder Return
for a 3-year period equals 33%, the Cumulative Annual Shareholder Return for
such period shall equal 10.06%. For purposes of this paragraph, the “Total
Shareholder Return” for any period shall equal (1) 100% multiplied by (2) a
fraction, (i) the numerator of which is (x) the Market Value (as defined
below) as of the last day of such period of the number of shares of Stock
which had a Market Value of $100 as of the first day of such period,
assuming the reinvestment of any dividends paid with respect to such shares
during such period on a pre-tax basis in additional shares and taking into
account any stock splits, reclassifications or any similar events minus (y)
$100, and (ii) the denominator of which is 100. For purposes of this
paragraph, the Market Value of a share of Stock on the first and last day of
any such period shall be equal to the average of the 20 closing prices of
such a share for the 20 consecutive trading days concluding on such day (or,
if such day is not a trading day, concluding on the final trading day
immediately preceding such day).

          c. To the extent the Restrictions lapse under this Section 3 with respect to the Units, they
will be free of the terms and conditions of this Award.

     4. Adjustments. If the number of outstanding shares of Stock is changed as a result
of stock dividend, stock split or the like without additional consideration to the Company, the
number of Units subject to this Award shall be adjusted to correspond to such change.

     5. Dividend Equivalents. Upon the Company’s payment of a dividend with respect to the
Stock in cash, shares of stock of another company, or property, the Grantee will be credited with
the cash, number of shares of that company, or amount of property which would

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have been received had the Grantee owned a number of shares of Stock equal to the number of
Units credited to his or her account. Any cash, shares, or property so credited will be subject to
the same Restrictions and other terms and conditions applicable to Units and will be paid out in
kind if and when the Restrictions lapse on the underlying Unit.

     6. Delivery of Certificates or Equivalent. Within five days following the lapse of
Restrictions applicable to any Units, the Company shall, at its election, either deliver to the
Grantee (i) a certificate representing a number of shares of Stock equal to the number of whole
Units upon which such Restrictions have lapsed, plus a cash payment equal to the value of any
fractional Units then credited to the Grantee, (ii) establish a brokerage account for the Grantee
and credit to that account the number of shares of Common Stock of the Company equal to the number
of Units upon which such Restrictions have lapsed, (iii) pay the Grantee in cash
the value (on the date of lapse of Restrictions) of a number of shares of Stock equal to the number
of Units upon which such Restrictions have lapsed. In addition, upon the lapse of such
Restrictions on a Unit, any dividend equivalents credited with respect to such Unit will be
distributed in accordance with the final sentence of Section 5.

     7. Withholding Taxes. The Company is entitled to withhold an amount equal to the
required minimum statutory withholdings taxes for the respective tax jurisdiction attributable to
any cash, share of Stock, or property deliverable in connection with the Units. The Grantee may
satisfy any withholding obligation in whole or in part by electing to have the Company retain cash,
shares of Stock, or other property deliverable in connection with the Units having a Fair Market
Value on the date the Restrictions applicable to the Units lapse equal to the minimum amount
required to be withheld.

     8. Voting and Other Rights.

          a. The Grantee shall have no rights as a stockholder of the Company in respect of the Units,
including the right to vote and to receive dividends and other distributions, until delivery of
certificates representing shares of Stock in satisfaction of the Units.

          b. The grant of Units does not confer upon the Grantee any right to continue in the employ of
the Company and its Affiliates or to interfere with the right of the Company to terminate the
Grantee’s employment at any time.

     9. Funding. No assets or shares of Common Stock shall be segregated or earmarked by
the Company in respect of any Units awarded hereunder. The grant of Units hereunder shall not
constitute a trust and shall be solely for the purpose of recording an unsecured contractual
obligation of the Company.

     10. Notices. Any notice to be given to the Company under the terms of this Agreement
shall be addressed to the Company, in care of its Secretary, at 2000 W. Sam Houston Parkway South,
Suite 1700, Houston, Texas, 77042, or at such other address as the Company may hereafter designate
in writing. Any notice to be given to the Grantee shall be given to the Grantee at his or her
usual work location or his or her home address as indicated in the records of the Company. Any
such notice shall be deemed to have been duly given if and when enclosed in

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a properly sealed envelope, addressed as aforesaid, registered or certified and deposited,
postage and registry fee prepaid, in a United States post office.

     11. Governing Law. All questions concerning the construction, validity and
interpretation of this Award shall be governed under the laws of the State of Delaware.

     12. Waiver. The failure of the Company to enforce at any time any provision of this
Award shall in no way be construed to be a waiver of such provision or any other provision hereof.

     IN WITNESS WHEREOF, the Company has executed this Agreement in duplicate as of day and year
first above written.

	 	 	 	 	 
	 	OFFSHORE LOGISTICS, INC.

 	 
	 	By:  	 	 
	 	 	William E. Chiles, President and 	 
	 	 	Chief Executive Officer 	 
	 

     The undersigned the Grantee hereby accepts, and agrees to, all terms and provisions of the
foregoing Award.

	 	 	 	 	 
	By:

	 	 	 	 
	 

	 	 	 	 
	 

	 	< Insert Name of Grantee >	 	 

5exv10w1

 

EXHIBIT 10.1

2006 EMPLOYEE RESTRICTED STOCK UNIT AGREEMENT

          This 2006 Employee Restricted Stock Unit Agreement (this “Agreement”) is between
Oceaneering international, inc. (the “Company”) and _______(the “Participant”),
an employee of the Company or one of its Subsidiaries, regarding an award (“Award”) of _______
units (“Restricted Stock Units”) representing shares of Common Stock (as defined in the 2005
Incentive plan of oceaneering international, inc. (the “Plan”), awarded to the Participant
effective February 2, 2006 (the “Award Date”), such number of Restricted Stock Units subject to
adjustment as provided in Section 15 of the Plan, and further subject to the following terms and
conditions:

     1. Relationship to Plan. This Award is subject to all of the terms, conditions and
provisions of the Plan and administrative interpretations thereunder, if any, which have been
adopted by the Committee thereunder and are in effect on the date hereof. Except as defined or
otherwise specifically provided herein, capitalized terms shall have the same meanings ascribed to
them under the Plan.

     2. Vesting.

     (a) All Restricted Stock Units subject to this Award shall vest in full on the third
anniversary of the Award Date, provided the Participant is in Employment on such
anniversary.

     (b) Restricted Stock Units subject to this Award shall vest, irrespective of the
provisions set forth in subparagraph (a) above, provided that the Participant has been in
continuous Employment from the Award Date until the December 15th following the later of (i)
the Award Date, and (ii) his attainment of Retirement Age, in the following amounts provided
the Participant is in Employment on the applicable December 15th:

     (i) if such December 15th occurs within one year following the Award
Date, on such December 15th, one-third of the Award shall be thereupon
vested and an additional one-third of the Award shall vest on each of the
two subsequent anniversaries of such December 15th;

     (ii) if such December 15th occurs between one and two years following
the Award Date, on such December 15th, two-thirds of the Award shall
thereupon be vested and an additional one-third of the Award shall vest on
the subsequent anniversary of such December 15th; and

     (iii) if such December 15th occurs between two and three years
following the Award Date, on such December 15th, the entire Award shall
thereupon be vested.

     (c) All Restricted Stock Units (and any substitute security and cash component
distributed in connection with a Change of Control) subject to this Award shall vest in
full, irrespective of the provisions set forth in subparagraphs (a) or (b) above,

 

 

provided that the Participant has been in continuous Employment since the Award Date,
upon the earliest to occur of:

     (i) the date that the Company or any successor to the Company
terminates the Participant’s Employment for any reason on or after a Change
of Control; or

     (ii) the date that the Participant’s aggregate value of total annual
compensation (including salary, bonuses, long and short-term incentives,
deferred compensation and award of stock options, as well as all other
benefits in force on the date immediately prior to a Change of Control) is
reduced to a value that is ninety-five percent (95%) or less of the value
thereof on the date immediately prior to the Change of Control, or the
Participant’s scope of work responsibility is materially reduced from that
existing on the date immediately prior to the Change of Control, or the
Participant is requested to relocate more than 25 miles from his place of
Employment with the Company on the date immediately prior to the Change of
Control, in each case, on or after a Change of Control; or

     (iii) the Participant’s termination of Employment by reason of
Disability or death.

     (d) For purposes of this Agreement:

     (i) “Change of Control” means:

     (A) any Person is or becomes the “beneficial owner” (as defined in Rule
13d-3 under the Securities Exchange Act of 1934, as amended, directly or
indirectly, of securities of the Company representing 20% or more of the
combined voting power of the Company’s outstanding Voting Securities, other
than through the purchase of Voting Securities directly from the Company
through a private placement; or

     (B) individuals who constitute the Board on the date hereof (the
“Incumbent Board”) cease for any reason to constitute at least a majority
thereof, provided that any person becoming a Director subsequent to the date
hereof whose election, or nomination for election by the Company’s
shareholders, was approved by a vote of at least two-thirds of the Directors
comprising the Incumbent Board shall from and after such election be deemed
to be a member of the Incumbent Board; or

     (C) the Company is merged or consolidated with another corporation or
entity and as a result of such merger or consolidation less than 60% of the
outstanding Voting Securities of the surviving or resulting corporation or
entity shall then be owned by the former shareholders of the Company; or

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     (D) a tender offer or exchange offer is made and consummated by a
Person other than the Company for the ownership of 20% or more of the Voting
Securities of the Company then outstanding; or

     (E) all or substantially all of the assets of the Company are sold or
transferred to a Person as to which:

     (1) the Incumbent Board does not have authority (whether by law
or contract) to directly control the use or further disposition of
such assets; and

     (2) the financial results of the Company and such Person are not
consolidated for financial reporting purposes.

     (F) Anything else in this definition to the contrary notwithstanding,
no Change of Control shall be deemed to have occurred by virtue of any
transaction which results in the Participant, or a group of Persons which
includes the Participant, acquiring more than 20% of either the combined
voting power of the Company’s outstanding Voting Securities or the Voting
Securities of any other corporation or entity which acquires all or
substantially all of the assets of the Company, whether by way of merger,
consolidation, sale of such assets or otherwise.

     (ii) “Disability” means physical or mental impairment:

     (A) which causes a Participant to be unable to perform the normal
duties for an Employer as determined by the Committee in its sole
discretion; and

     (B) which is expected either to result in death or to last for a
continuous period of at least 12 months. The Committee may require that the
Participant be examined by a physician or physicians selected by the
Committee.

     (iii) “Employment” means employment with the Company or any of its
Subsidiaries.

     (iv) “Person” means, any individual, corporation, partnership, group,
association or other “person,” as such term is used in Sections 13(d) and
14(d) of the Securities Exchange Act of 1934, as amended, and the related
rules and regulations promulgated thereunder.

     (v) “Retirement Age” means the earlier to occur of:

     (A) age 65 or more, or

     (B) age 60 or more with at least 15 years of continuous Employment,

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provided that the Participant has remained in Employment until the earlier
to occur of (A) or (B).

     (vi) “Voting Securities” means, with respect to any corporation or
other business enterprise, those securities, which under ordinary
circumstances are entitled to vote for the election of directors or others
charged with comparable duties under applicable law.

     3. Forfeiture of Award. If the Participant’s Employment terminates under any circumstances
(except those provided in Paragraph 2 of this Agreement or in any other written agreement between
the Participant and the Company which provides for vesting of the Restricted Stock Units granted
hereby), all unvested Restricted Stock Units as of the termination date shall be forfeited.

     4. Registration of Units. The Participant’s right to receive the Restricted Stock Units shall
be evidenced by book entry registration (or by such other manner as the Committee may determine).

     5. Dividend Equivalent Payments. The Company will pay dividend equivalents for each
outstanding Restricted Stock Unit in cash as soon as administratively practicable after dividends,
if any, are paid on the Company’s outstanding shares of Common Stock. Such payments shall be made
no later than March 15th following the year in which the dividends are paid.

     6. Shareholder Rights. The Participant shall have no rights of a shareholder with respect to
shares of Common Stock subject to this Award unless and until such time as the Award has been
settled by the transfer of shares of Common Stock to the Participant.

     7. Settlement and Delivery of Shares.

     (a) Third Anniversary; Termination After Disability or Death; Actual or Constructive
Termination by Company After Change of Control. Settlement of vested Restricted Stock Units
that vest in accordance with Subparagraph 2(a) or 2(c) shall be made as soon as
administratively practicable after vesting, but in no case later than the March 15th
following the year in which vesting occurs. Settlement will be made by payment in shares of
Common Stock.

     (b) Termination After Attainment of Retirement Age. Settlement of vested Restricted
Stock Units that vest in accordance with Subparagraph 2(b) to a Participant who terminates
Employment after attainment of his Retirement Age (whether or not there has been a Change of
Control) shall be made as soon as administratively practicable after termination, but in no
case later than the March 15th following the year in which termination occurs. Settlement
will be made by payment in shares of Common Stock.

     (c) Attainment of Retirement Age Without Termination. Settlement of vested Restricted
Stock Units that vest in accordance with Subparagraph 2(b) to a Participant
who continues employment through the third anniversary of the Award Date shall be made
as soon as administratively practicable after the Restricted Stock Units would have

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otherwise vested by reason of Subparagraphs 2(a) or 2(c), but in no event after the later of
(i) the 15th day of the third calendar month following the applicable date in Subparagraph
2(a) or 2(c), or (ii) the end of the calendar year in which the applicable date in
Subparagraph 2(a) or 2(c) occurred. Settlement will be made by payment in shares of Common
Stock.

          The Company shall not be obligated to deliver any shares of Common Stock if counsel to the
Company determines that such sale or delivery would violate any applicable law or any rule or
regulation of any governmental authority or any rule or regulation of, or agreement of the Company
with, any securities exchange or association upon which the Common Stock is listed or quoted. The
Company shall in no event be obligated to take any affirmative action in order to cause the
delivery of shares of Common Stock to comply with any such law, rule, regulation or agreement.

     8. Notices. Unless the Company notifies the Participant in writing of a different procedure,
any notice or other communication to the Company with respect to this Agreement or the Plan shall
be in writing addressed to the Corporate Secretary of the Company and shall be: (a) by registered
or certified United States mail, postage prepaid, to 11911 FM 529, Houston, Texas 77041-3011; or
(b) by hand delivery or otherwise to 11911 FM 529, Houston, Texas 77041-3011. Any such notice
shall be deemed effectively delivered or given upon receipt.

          Notwithstanding the foregoing, in the event that the address of the Company’s principal
executive offices is changed prior to the date of any exercise of this Award, notices shall instead
be made pursuant to the foregoing provisions at the then current address of the Company’s principal
executive offices.

          Any notice or other communication to the Participant with respect to this Agreement or the
Plan shall be given in writing and shall be deemed effectively delivered or given upon receipt or,
in the case of notices mailed by the Company to the Participant, five days after deposit in the
United States mail, postage prepaid, addressed to the Participant at the address specified at the
end of this Agreement or at such other address as the Participant hereafter designates by written
notice to the Company.

     9. Assignment of Award. Except as otherwise permitted by the Committee and as provided in the
immediately following paragraph, the Participant’s rights under the Plan and this Agreement are
personal, and no assignment or transfer of the Participant’s rights under and interest in this
Award may be made by the Participant other than by a domestic relations order. This Award is
payable during his lifetime only to the Participant, or in the case of a Participant who is
mentally incapacitated, this Award shall be payable to his guardian or legal representative.

          The Participant may designate a beneficiary or beneficiaries (the “Beneficiary”) to whom the
Award under this Agreement, if any, will pass upon the Participant’s death and may change such
designation from time to time by filing with the Company a written designation of Beneficiary on
the form attached hereto as Exhibit A, or such other form as may be prescribed by
the Committee; provided that no such designation shall be effective unless so filed prior to
the death of the Participant and no such designation shall be effective as of a date prior to
receipt by 

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the Company. The Participant may change his Beneficiary without the consent of any
prior Beneficiary by filing a new designation with the Company. The last such designation that the
Company receives in accordance with the foregoing provisions will be controlling. Following the
Participant’s death, the Award, if any, will pass to the designated Beneficiary and such person
will be deemed the Participant for purposes of any applicable provisions of this Agreement. If no
such designation is made or if the designated Beneficiary does not survive the Participant’s death,
the Award shall pass by will or, if none, then by the laws of descent and distribution.

     10. Withholding. The Company’s obligations under this Agreement shall be subject to the
satisfaction of all applicable federal, state and local income and employment tax withholding
requirements (the “Required Withholding”). The Company may withhold an appropriate amount of cash
(with respect to the payment of dividend equivalents) or number of shares from the Common Stock
that would otherwise have been delivered to the Participant (with respect to the settlement of the
Award) necessary to satisfy the Participant’s Required Withholding, and deliver the remaining
amount of cash or shares of Common Stock to the Participant, unless the Participant has made
arrangements with the Company for the Participant to deliver to the Company cash, check, other
available funds or shares of previously owned Common Stock for the full amount of the Required
Withholding by 5:00 p.m. Central Standard Time on the date an amount is included in the income of
the Participant. The amount of the Required Withholding and the number of shares to satisfy the
Participant’s Required Withholding shall be based on the Fair Market Value of the shares on the
date prior to the applicable date of income inclusion.

     11. Stock Certificates. Certificates representing the Common Stock issued pursuant to the
settlement of an Award will bear all legends required by law and necessary or advisable to
effectuate the provisions of the Plan and this Award. The Company may place a “stop transfer”
order against shares of the Common Stock issued pursuant to this Award until all restrictions and
conditions set forth in the Plan or this Agreement and in the legends referred to in this Section
11 have been complied with.

     12. Successors and Assigns. This Agreement shall bind and inure to the benefit of and be
enforceable by the Participant, the Company and their respective permitted successors and assigns
(including personal representatives, heirs and legatees), except that the Participant may not
assign any rights or obligations under this Agreement except to the extent and in the manner
expressly permitted in Section 9 of this Agreement.

     13. No Employment Guaranteed. No provision of this Agreement shall confer any right upon the
Participant to continued Employment with the Company or any Subsidiary.

     14. Code Section 409A Compliance. If any provision of this Agreement would result in the
imposition of an excise tax under Section 409A of the Code and related regulations and Treasury
pronouncements (“Section 409A”), that provision will be reformed to avoid imposition of the excise
tax and no action taken to comply with Section 409A shall be deemed to impair a benefit under this
Agreement.

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     15. Governing Law. This Agreement shall be governed by, construed, and enforced in accordance
with the laws of the State of Texas, excluding any choice of law provision thereof that would
result in the application of the laws of any other jurisdiction.

     16. Amendment. Except as set forth herein, this Agreement cannot be modified, altered or
amended except by an agreement, in writing, signed by both the Company and the Participant.

	 	 	 	 	 	 	 
	 	 	OCEANEERING INTERNATIONAL,
INC.
	 
	 	 	 	 	 	 
	Award Date: February 2, 2006

	 	By:
	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 	 	 	 	 	 	 

          The Participant hereby accepts the foregoing 2006 Employee Restricted Stock Unit Agreement,
subject to the terms and provisions of the Plan and administrative interpretations thereof referred
to above.

	 	 	 	 	 
	 

	 	 	 	PARTICIPANT:
	 
	 	 	 	 
	Date:
	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	Participant’s Address:
	 
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 

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Exhibit A to 2006 Employee

Restricted Stock Unit Agreement

Designation of Beneficiary

     I,                      (“Participant”), hereby declare that upon my death,
                     (the “Beneficiary”) of
                                         (address), who is my
                     (relationship), will be entitled to the Award which may become payable
under the Plan and all other rights accorded the Participant under the Participant’s 2006 Employee
Restricted Stock Unit Agreement (capitalized terms used but not defined herein have the respective
meanings assigned to them in such agreement).

     It is understood that this designation of Beneficiary is made pursuant to the Agreement and is
subject to the conditions stated therein, including the Beneficiary’s survival of Participant. If
any such condition is not satisfied, such rights shall devolve according to the Participant’s last
will and testament, or if none, then the laws of descent and distribution.

     It is further understood that all prior designations of beneficiary under the Agreement are
hereby revoked upon the filing of this designation with the Company. This designation of
Beneficiary may only be revoked in writing, signed by the Participant, and filed with the Corporate
Secretary of the Company prior to the Participant’s death.

	 	 	 
	 

	 	 
	 

	 	Participant
	 
	 	 
	 

	 	 
	 

	 	Date

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