Document:

exv10w27

	 	 	 	 	 

Exhibit 10.27

RESTRICTED
STOCK AGREEMENT

PURSUANT TO THE

ACADIA HEALTHCARE COMPANY, INC. 2011 INCENTIVE COMPENSATION
PLAN

* * * * *

Participant:                                         

Grant Date:                                         

Number of Shares of

Restricted Stock Granted:                                         

* * * * *

     THIS RESTRICTED STOCK AWARD AGREEMENT (this “Agreement”), dated as of the Grant
Date specified above, is entered into by and between Acadia Healthcare Company, Inc., a corporation
organized in the State of Delaware (the “Company”), and the Participant specified above,
pursuant to the Acadia Healthcare Company, Inc. 2011 Incentive Compensation 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 shares of Restricted Stock 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 Award. The Company hereby grants to the Participant, as
of the Grant Date specified above, the number of shares of Restricted Stock 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 any such shares, except as otherwise
specifically provided for in the Plan or this Agreement. Subject to Section 5 hereof, the
Participant shall not have the rights of a stockholder in respect of the shares underlying this
Award until such shares are delivered to the Participant in accordance with Section 4 hereof.

          3. Vesting.

          (a) The Restricted Stock subject to this grant shall become unrestricted and vested as
follows, provided that the Participant has not incurred a Termination prior to each such vesting
date:

	 	 	 
	Vesting Date	 	Number of Shares
	[•]
	 	[•]

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 service with the Company or any of its Subsidiaries on each applicable vesting date.

          (b) Committee Discretion to Accelerate Vesting. Notwithstanding the foregoing, the
Committee may, in its sole discretion, provide for accelerated vesting of the Restricted Stock at
any time and for any reason.

          (c) Forfeiture. Subject to the Committee’s discretion to accelerate vesting
hereunder, all unvested shares of Restricted Stock shall be immediately forfeited upon the
Participant’s Termination for any reason.

          4. Period of Restriction; Delivery of Unrestricted Shares. During the Period of
Restriction, the Restricted Stock shall bear a legend as described in Section 8.2(c) of the Plan.
When shares of Restricted Stock awarded by this Agreement become vested, the Participant shall be
entitled to receive unrestricted shares and if the Participant’s stock certificates contain legends
restricting the transfer of such shares, the Participant shall be entitled to receive new stock
certificates free of such legends (except any legends requiring compliance with securities laws).

          5. Dividends and Other Distributions; Voting. Participants holding Restricted Stock
shall be entitled to receive all dividends and other distributions paid with respect to such
shares, provided that any such dividends or other distributions will be subject to the same vesting
requirements as the underlying Restricted Stock and shall be paid at the time the Restricted Stock
becomes vested pursuant to Section 3 hereof. If any dividends or distributions are paid in shares,
the shares shall be deposited with the Company and shall be subject to the same restrictions on
transferability and forfeitability as the Restricted Stock with respect to which they were paid.
The Participant may exercise full voting rights with respect to the Restricted Stock granted
hereunder.

          6. Non-Transferability. The shares of Restricted Stock, and any rights and interests
with respect thereto, issued under this Agreement and the Plan shall not, prior to

2

 

vesting, be sold, exchanged, transferred, assigned or otherwise disposed of in any way by the
Participant (or any beneficiary of the Participant), other than by testamentary disposition by the
Participant or the laws of descent and distribution. Any attempt to sell, exchange, transfer,
assign, pledge, encumber or otherwise dispose of or hypothecate in any way any of the Restricted
Stock, or the levy of any execution, attachment or similar legal process upon the Restricted Stock,
contrary to the terms and provisions of this Agreement and/or the Plan shall be null and void and
without legal force or effect.

          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.

          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 Restricted Stock 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. Any statutorily required withholding obligation with regard to
the Participant may be satisfied by reducing the amount of cash or shares of Common Stock otherwise
deliverable to the Participant hereunder.

          9. Section 83(b). If the Participant properly elects (as required by Section 83(b) of
the Code) within 30 days after the issuance of the Restricted Stock to include in gross income for
federal income tax purposes in the year of issuance the Fair Market Value of such shares of
Restricted Stock, the Participant shall pay to the Company or make arrangements satisfactory to the
Company to pay to the Company upon such election, any federal, state or local taxes required to be
withheld with respect to the Restricted Stock. If the Participant shall fail to make such payment,
the Company shall, to the extent permitted by law, have the right to deduct from any payment of any
kind otherwise due to the Participant any federal, state or local taxes of any kind required by law
to be withheld with respect to the Restricted Stock, as well as the rights set forth in Section 8
hereof. The Participant acknowledges that it is the Participant’s sole responsibility, and not the
Company’s, to file timely and properly the election under Section 83(b) of the Code and any
corresponding provisions of state tax laws if the Participant elects to make such election, and the
Participant agrees to timely provide the Company with a copy of any such election.

          10. Legend. All certificates representing the Restricted Stock shall have endorsed
thereon the legend set forth in Section 8.2(c) of the Plan. Notwithstanding the foregoing, in no
event shall the Company be obligated to deliver to the Participant a certificate representing the
Restricted Stock prior to the vesting dates set forth above.

          11. Securities Representations. The shares of Restricted Stock are being issued to
the Participant and this Agreement is being made by the Company in reliance upon the following
express representations and warranties of the Participant. The Participant acknowledges,
represents and warrants that:

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          (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 11.

          (b) If the Participant is deemed an affiliate within the meaning of Rule 144 of the Securities
Act, the shares of Restricted Stock 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 the shares of Restricted Stock and the
Company is under no obligation to register the shares of Restricted 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 vested Restricted Stock hereunder may be made only in limited amounts in accordance
with the terms and conditions of Rule 144 or any exemption therefrom.

          12. 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 in accordance with and as
provided in 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.

          13. 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 file with the Company.

          14. Acceptance. As required by Section 8.2 of the Plan, the Participant shall forfeit
the Restricted Stock if the Participant does not execute this Agreement within a period of 60 days
from the date that the Participant receives this Agreement (or such other period as the Committee
shall provide).

          15. 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 Affiliates to terminate the Participant’s employment or service at any
time, for any reason and with or without Cause.

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          16. 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 Restricted Stock 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.

          17. Compliance with Laws. The issuance of the Restricted Stock or unrestricted shares
pursuant to this Agreement 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 or regulation applicable
thereto. The Company shall not be obligated to issue the Restricted Stock or any of the shares
pursuant to this Agreement if any such issuance would violate any such requirements.

          18. Section 409A. Notwithstanding anything herein or in the Plan to the contrary, the
shares of Restricted Stock are intended to be exempt from the applicable requirements of Section
409A of the Code and shall be limited, construed and interpreted in accordance with such intent.

          19. 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. 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.

          20. 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.

          21. 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.

          22. 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.

          23. 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.

          24. Acquired Rights. The Participant acknowledges and agrees that: (a) the Company
may terminate or amend the Plan at any time; (b) the award of Restricted Stock made under this
Agreement is completely independent of any other award or grant and is made at the

5

 

sole discretion
of the Company; (c) no past grants or awards (including, without limitation, the Restricted Stock
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.

* * * * *

6

 

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

	 	 	 	 	 
	 	ACADIA HEALTHCARE COMPANY, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 
	 	PARTICIPANT

 	 
	 	 	 
	 
	 	Name: 
	 
	 
	 	Social Security Number: 
	 

7Exhibit 10.1

Exhibit 10.1

MANAGEMENT REIMBURSEMENT AGREEMENT

THIS MANAGEMENT REIMBURSEMENT AGREEMENT (this “Agreement”) is hereby entered into as
of September 8, 2011, by and between 57th Street General Acquisition Corp., a Delaware corporation
(“Parent”) and Crumbs Holdings LLC, a Delaware limited liability company
(“Crumbs”). Capitalized terms not defined herein shall have the meanings assigned such
terms in the Operating Agreement of Crumbs.

RECITALS

WHEREAS, Parent incurs certain expenses attributable to its status as a public company, which
expenses benefit both Parent and Crumbs; and

WHEREAS, to compensate Parent for the incurrence of such expenses, the respective Boards of
Crumbs and Parent have determined to enter into this Agreement.

NOW, THEREFORE, in consideration of the mutual promises and covenants contained in this
Agreement and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto hereby agree as follows.

AGREEMENT

1. Management Services. Crumbs hereby engages Parent, and Parent hereby agrees to be
so engaged, to incur all expenses attributable to Parent’s status as a public company (which public
company status indirectly benefits Crumbs and its members), including without limitation the
following: (i) overhead, legal, accounting and other professional fees and expenses, including
cost of periodic reports to Parent’s security holders, any judgments, settlements, penalties, fines
or other costs and expenses in respect of any claims against, or any litigation or proceedings,
involving Parent, (ii) salary, bonus, and other benefits payable to, and indemnities provided on
behalf of, officers, directors and employees of Parent, (iii) any director compensation and/or fees
or expenses payable to directors related to their attendance at each regular or special meeting of
the board of directors of Parent, (iv) any costs or expenses related to obtaining directors and
officers insurance or any other insurance reasonably required by Parent as determined by its board
of directors, (v) fees and expenses related to any public offering or private placement of debt
securities or equity securities, investment or acquisition (whether or not successful) authorized
by the board of directors of Parent, (vi) franchise taxes and other fees and expenses in connection
with the maintenance of existence of Parent (including, but not limited to, any costs or expenses
associated with being a public company listed on a national securities exchange) (vii) any payment
the proceeds of which are used to purchase or redeem equity securities of Parent; and (viii) any
other liability, other than with respect to income tax obligations of Parent, that the Board of
Managers acting in Good Faith reasonably believes is required to allow Parent to operate in the
ordinary course or is otherwise required to prevent the insolvency of Parent.

2. Compensation. In consideration for the expenses incurred by the Parent pursuant to
this Agreement, Crumbs shall pay to Parent a quarterly management fee, payable in arrears and
calculated and paid as of the last business day of each fiscal quarter, equal to 100% of the costs
incurred by Parent which are to be reimbursed pursuant to Section 1 hereof (the “Management
Fee”).

3. Scope of Liabilities. No Indemnified Person (as defined in Section 4) will be
liable to Crumbs or its affiliates for any suit, action, cost, claim, liability or loss (including
attorneys’ and expert witness fees and expenses and all costs of investigation) occasioned by any
act or omission of Parent in connection with the performance of its services hereunder
provided, however, that no such limitation shall apply where liability of the
Indemnified Person arises out of acts or omissions constituting gross negligence, willful
misconduct or bad faith.

 

 

 

4. Indemnification. Crumbs agrees as follows:

(a) To the maximum extent permitted by applicable law, Parent and its respective affiliates
(collectively, “Indemnified Persons”) who was or is made a party to, or is threatened to be
made a party to, or is involved in any threatened, pending or contemplated action, suit or
proceeding, whether civil or criminal, administrative, arbitrative or investigative (each, a
“Proceeding”) or any appeal in or from any Proceeding relating to that Indemnified Person’s
performance or participation in the performance of duties under this Agreement or the rendering of
advice or consultation with respect thereto, or that relate to Crumbs, its business or its affairs
(including any sale, purchase or offering of interests), will be indemnified and held harmless by
Crumbs from and against any and all losses, claims, damages, liabilities (joint and/or several),
expenses (including attorneys’ and expert witness fees and expenses), judgments, fines, settlements
and other amounts (collectively, “Losses”) that relate to such Proceeding, except to the
extent that such Losses arise from acts or omissions that constitute gross negligence, willful
misconduct or bad faith of its duties by the Indemnified Person. An individual or entity will be
entitled to the indemnification prescribed in the preceding sentence whether or not that individual
or entity continues or continued to be an Indemnified Person at the time any Proceeding commences
or any Loss is suffered, paid or incurred in connection therewith.

(b) Separate and apart from its obligation to indemnify an Indemnified Person pursuant to
Section 4(a), Crumbs agrees to pay all expenses each Indemnified Person incurs (or reimburse that
Indemnified Person for such expenses) in defending or responding to a Proceeding (including
expenses incurred in bringing and pursuing counterclaims and cross-claims and including expenses
incidental to the investigation, prosecution or defense of any claims, assertion of rights or
pursuit of remedies, including, without limitation, professional and other advisory and consulting
expenses and travel expenses), as incurred, without any determination as to the Indemnified
Person’s ultimate entitlement to indemnification, upon the Indemnified Person’s request, regardless
of whether the Proceeding has been disposed of; provided, however, that the
Indemnified Person agrees in writing to repay those expenses to the extent they were incurred
defending or responding to claims or allegations for which it is specifically and finally found not
to be entitled to indemnification under Section 4(a). Each party to this Agreement hereby agrees
that, if the Funds fail or decline to pay the expenses of an Indemnified Person upon that
Indemnified Person’s request as required in this Section 4(b), such Indemnified Person may
immediately bring a claim to enforce the Funds’ obligations under this Section 4(b).

(c) To the extent (and only to the extent) enforcing Section 3 or the foregoing provisions of
this Section 4 would constitute or require the waiver or limitation by Crumbs of rights that may
not be waived, Section 3 and/or this Section 4 will be deemed modified so that those rights are
preserved to the extent and only to the extent required by applicable law. Crumbs understand and
agrees that the protections of Section 3 and this Section 4 for Indemnified Persons are to be
provided to Indemnified Persons to the fullest extent permissible under applicable law, and no
modification pursuant to the preceding sentence may reduce those protections, save as required by
applicable law.

5. Independent Contractor. For all purposes of this Agreement, Parent will be deemed
to be an independent contractor and not an employee of Crumbs. Nothing herein will be construed as
making Crumbs a partner or co-venturer with Parent or any of its affiliates.

 

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6. Term, Termination, Renewal and Survival.

(a) The term of this Agreement will commence on the date hereof and will continue until this
Agreement is terminated. This Agreement may be terminated by either party upon ninety (90) days’
prior written notice.

(b) In the event of the termination of this Agreement, the provisions of Sections 3, 4, 5, and
9, as well as the provisions of this Section 6, shall survive.

7. Modification; Waiver. Except as otherwise expressly provided herein, this
Agreement may not be amended, nor shall any provision of this Agreement be deemed to have been
modified or waived, unless evidenced in writing and signed by the parties to be charged with such
amendment, waiver or modification.

8. Entire Agreement; Binding Effect, Assignment. This Agreement is the entire
agreement between the parties and supersedes all prior or contemporaneous written or oral
negotiations, correspondence, agreements and understandings regarding the subject matter hereof.
This Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors, and their rights and obligations hereunder shall not be assignable,
transferable or delegable without the written consent of the other party hereto. Any attempted
assignment, transfer or delegation hereof without such consent will be void ab initio.

9. Governing Law. THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO ANY CONFLICTS OF LAW
PRINCIPLES.

10. Notices. Unless otherwise specifically provided herein, any notice, request or
other communication herein required or permitted to be given under this Agreement shall be in
writing and may be personally served or sent by facsimile or certified or registered mail and shall
be deemed to have been given (i) when delivered in person, upon receipt thereof, (ii) in the case
of facsimile, upon receipt thereof if transmitted and confirmed during regular business hours of a
business day (or, if delivered after the close of regular business hours, at the beginning of
business hours on the next business day), and (iii) in the case of certified or registered mail, as
of the third (3rd) business day after depositing it in the certified or registered mail,
with postage prepaid and properly addressed. For the purposes hereof, the address of each party
hereto shall be as set forth below, or such other address as shall be designated by a party hereto
in a written notice delivered to the other party hereto in accordance with this Section 10:

If to Crumbs:

Crumbs Holdings LLC

110 West 40th Street

Suite 2100

New York, New York 10018

Attention: Chief Executive Officer

Facsimile: (212) 221-7107

If to Parent:

c/o Crumbs Holdings LLC

110 West 40th Street

Suite 2100

New York, New York 10018

Attention: Chief Executive Officer

Facsimile: (212) 221-7107

 

Page 3

 

11. Severability. The invalidity or unenforceability of any provision hereof shall in
no way affect the validity or enforceability of any and all other provisions hereof.

12. Third-Party Beneficiaries. No party intends for this Agreement to benefit any
third-party not expressly identified or described in this Agreement, but it is intended to benefit
those third parties who are so identified or described as fully as if those third parties were
parties to this Agreement. Without limiting the generality of the foregoing, the Indemnified
Persons shall be entitled to the benefits of and to enforce the rights and protections provided by
those sections as fully as if those persons were parties to this Agreement.

13. Counterparts. This Agreement may be signed in any number of counterparts. Any
single counterpart or a set of counterparts signed in either case by the parties hereto will
constitute a full and original Agreement for all purposes. Any executed counterpart delivered in
facsimile shall be deemed to be an original for all purposes hereof.

[signature page follows]

 

Page 4

 

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

	 	 	 	 	 	 	 	 	 	 	 

	57th STREET GENERAL
ACQUISITION CORP.	 	 	 	CRUMBS HOLDINGS LLC	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Jason Bauer
	 	 	 	By:
	 	/s/ John D. Ireland	 	 
	 

	 	 

Name: Jason Bauer
	 	 	 	 	 	 

Name: John D. Ireland
	 	 
	 

	 	Title:  CEO and President
	 	 	 	 	 	Title:  Chief Financial Officer	 	 

 

Page 5

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