Document:

Document

AGREEMENT 
AND GENERAL RELEASE

    This Agreement and General Release (“Agreement”) is made and entered by and between HomeTrust Bancshares, Inc., HomeTrust Bank (collectively referred to as“the Company”) and Paula Labian (“Employee”). The Agreement sets out the complete agreement and understanding between the Company and Employee regarding Employee’s employment with the Company, the end of her employment with the Company, and the release of any and all claims against the Company and Related Parties (specifically defined and identified in Section 3 C below).  The Company, Employee, and Related Parties are sometimes collectively referred to as the “Parties”or separately as a “Party”.

    Employee formerly was employed by the Company in the position of Executive Vice President and Chief Human Resources Officer.   Employee’s resignation from employment was effective December 31, 2020.

The Company and Employee, through counsel, have engaged in negotiations and have agreed to compromise and settle all of the disputes that exist, have existed, or may exist in the future between the Parties.  No Party admits fault in this matter, and the execution of this Agreement should not in any way imply fault by one Party or any other.   

In consideration of the above and the mutual covenants set forth below, and for other good and valuable consideration, to fully and finally resolve all controversies between Employee, the Company and Related Parties, the Parties agree as follows:

    1.    CONSIDERATION.   

A.    Payment.  The Company will make or cause to be made payments in the total gross amount of Five Hundred Thousand Dollars $500,000) (less applicable withholdings as set forth below) as follows:

i.    a check in the amount of Fifty-Four Thousand Dollars ($54,000) (less applicable withholdings), payable to Paula Labian.  This amount shall be reported for tax purposes on an IRS Form W-2. This check will be presented to Employee’s counsel within 10 days of the Effective Date (as defined in Section 6). 
    
ii.    a check in the amount of Four Hundred Fifteen Thousand Dollars ($415,000), payable to Paula Labian.  This amount shall be reported for tax purposes on an IRS Form 1099. This check will be presented to Employee’s counsel within 30 days after the Effective date and receipt of Employee’s counsel’s W-9) 

iii.    a check in the amount of Thirty-One Thousand Dollars ($31,000), payable to John C. Hunter, Attorney at Law.  This amount shall be accounted for as attorneys’ fees and expenses and reported for tax purposes on an IRS Form 1099.  This check will be presented to Employee’s counsel within 30 days after the Effective date and receipt of Employee’s counsel’s W-9)                                  
Except as set forth above, the Parties will bear their own costs and attorneys’ fees in connection with this matter.  Employee agrees that she will be solely responsible for any tax payments that are due on the amount she receives under this Agreement. In the event that any agency of the United States or other taxing authority should determine that the sum paid as stated in this Agreement was subject to withholding of taxes, she agrees to indemnify and hold the Released Parties harmless for any amount of taxes, interest or penalties that may be found to be due and owing. Additionally, the Company will waive any rights to repayment or recovery of relocation fees paid to or on behalf of Employee.

B.    Voluntary Resignation.  Employee’s separation from employment is designated as a voluntary resignation.

    2.    REPRESENTATIONS AND WARRANTIES.  Employee represents and warrants that: 

(i) no complaints, charges, claims, or other actions or proceedings of any kind, against or in any way relating to the Company or any Related Parties (defined in section 3 C. below), have been initiated, filed, or prosecuted by her or anyone acting on her behalf or as her representative; 

(ii) she shall not reapply for, seek, or accept employment with the Company or any of its parents, subsidiaries or related entities in the future; 

(iii) she has been properly paid for all time worked and received all salary, bonus, incentives, payments for accrued but unused vacation, expense reimbursement, and all other amounts of any kind due to her from the Company or Related Parties, with the sole exception of the payment described in section 1 above; 

(iv) she has not suffered any accident, injury, or illness in the scope of employment or aggravated or accelerated any preexisting conditions in the scope of employment;     

(v) she is not eligible or entitled to receive any workers’ compensation benefits or payments, including any payments for medical or wage replacement; and,

(vi) she has the full right to enter into this Agreement has not assigned to any person and/or entity anything that she releases under this Agreement, and that no other person and/or entity has a right to anything that she releases under this Agreement. 

The payment afforded under this Agreement exceeds what Employee is otherwise entitled to receive, and is in lieu of any other compensation or benefits to which she otherwise might be entitled. Payment is conditioned upon her compliance with the terms of this Agreement. The Company is specifically relying on these representations, warranties, and confirmation from Employee in making this Agreement, and would not have entered into this Agreement without them. 

    3.    GENERAL RELEASE AND WAIVER OF CLAIMS.   

A.    In consideration of the payments and other consideration conferred by this Agreement, EMPLOYEE (ON BEHALF OF HERSELF AND HER ASSIGNS, HEIRS AND OTHER REPRESENTATIVES) RELEASES THE COMPANY AND ITS RELATED PARTIES (DEFINED BELOW) ("RELEASEES") FROM ALL CLAIMS AND WAIVES ALL RIGHTS KNOWN OR UNKNOWN, SHE MAY HAVE OR CLAIM TO HAVE RELATING TO HER EMPLOYMENT WITH THE COMPANY, ITS PREDECESSORS, SUBSIDIARIES OR AFFILIATES OR HER SEPARATION THEREFROM arising before the execution of the Agreement to the fullest extent permitted by law, including but not limited to claims: 
(i) for discrimination, harassment or retaliation arising under federal, state or local laws prohibiting age (including but not limited to claims under the Age Discrimination in Employment Act of 1967 (ADEA), as amended), sex, gender identity, sexual orientation, transgender status, national origin, race, religion, disability, veteran status or other protected class discrimination, harassment or retaliation for protected activity; 
(ii) for compensation and benefits (including but not limited to claims under the Employee Retirement Income Security Act of 1974 ("ERISA"), Fair Labor Standards Act of 1938 (FLSA), Family and Medical Leave Act of 1993 (FMLA), all as amended, and similar federal, state, and local laws and claims under any other Company policy, plan or program); 
(iii) under federal, state or local law of any nature whatsoever (including but not limited to constitutional, statutory, tort, express or implied contract or other common law;  
(iv) for attorneys' fees; and
(v) of any kind whatsoever (with the sole exception of those listed below) whether or not s/he knows about them at the time she signs this general release.  

Provided, however, the release of claims set forth in this Agreement does NOT:

(vi) apply to claims for workers’ compensation benefits or unemployment benefits filed with the applicable state agencies, vested retirement benefits or where otherwise prohibited by law; 

(vii)  bar a challenge under the Older Workers Benefit Protection Act of 1990 (OWBPA) to the enforceability of the waiver and release of ADEA claims set forth in this Agreement; or

(viii)  prohibit her from filing a charge with or participating in an investigation by the U.S. Equal Employment Opportunity Commission, Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) or 
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other self-regulatory or governmental agency with jurisdiction concerning the terms, conditions and privileges of employment or jurisdiction over the Company’s business or assisting with an investigation conducted internally by the Company; provided, however, that by signing this Agreement, Employee waives the right to, and shall not seek or accept, any monetary or other relief of any nature whatsoever in connection with any such charges, investigations or proceedings except as follows:  This Agreement does not limit Employee’s right to receive an award for information provided to the SEC, FINRA, or any other securities regulatory agency or authority.  By signing this Agreement, Employee represents that neither Employee nor anyone acting on Employee’s behalf or as Employee’s representative has filed any complaint, charge, claim or proceeding against the Releasees before any local, state, or federal governmental agency, commission, court, or other body. 

B.      Employee will not sue the Company and/or its Related Parties on any matters relating to her employment or separation therefrom arising before the execution of this Agreement (with the sole exception of claims and challenges which are not released by this Agreement as set forth in subparagraph A (vi) and (vii) above), or join as a party with others who may sue on any such claims, or opt-in to an action brought by others asserting such claims, and in the event that she is made a member of any class asserting such claims without her knowledge or consent, she shall opt out of such action at the first opportunity.
 
C.    The Company and its Related Parties which are being released by this Agreement include:  the Company and its predecessors, successors, and assigns and its and/or their past, present and future owners, parents, subsidiaries, affiliates, predecessors, successors, assigns, officers, directors, employees, attorneys, insurers and employee benefit plans (together with all plan administrators, trustees, fiduciaries and other insurers) and agents.

It is expressly understood and agreed by the Parties that this Agreement is in full accord, satisfaction, and discharge of any and all claims of Employee against the Company and/or any or all of the Related Parties, and that this Agreement has been signed with the express intent of extinguishing all claims, obligations, actions, or causes of action as herein described.  
    4.    CONFIDENTIALITY AND NON-DISPARAGEMENT.  

A.    Employee represents and warrants that she has not disclosed the terms and conditions of this Agreement or the existence of this Agreement to any third party (except for her family members and attorney), and she agrees that going forward she will not disclose the terms and conditions of this Agreement (including the history, background, and negotiations leading to the Agreement), or the existence of Agreement, to any third party, except as follows:  (i) she may disclose the amount of the payments to her spouse, attorneys, and/or tax or financial advisors provided that these individuals agree to maintain the confidentiality of the information; and (ii)  she may make such disclosure as may be commanded by a properly issued and served agency subpoena or court order, or as otherwise required by law, provided, however, that if a subpoena or court order is issued in which she is requested to disclose any matter covered by this confidentiality provision, she shall give immediate notice to the Company, and advise such issuing entity of the terms of this confidentiality agreement and the interest of the Company in this Agreement.  Similarly, the Company will not disclose the terms and conditions of this Agreement (including the history, background, and negotiations leading to the Agreement)to any third party, except as follows: (i) to any agent of the Company for tax or other business related reasons; (ii) as required by the SEC or other regulatory agencies due to the Company being publicly-traded including but not limited to providing a copy of this Agreement as an exhibit to its required SEC filings; (iii) or, as may be commanded by a properly issued and served agency subpoena or court order, or as otherwise required by law. 

Employee represents and warrants that she will not disclose the subject matter of the negotiations that led to this Agreement to any third parties (except for her family members and attorney).  In the event that any unsolicited inquiries into this matter or Employee’s employment or separation therefrom, she shall state that she resigned from employment with the Company to pursue other opportunities.  

Employee represents and warrants that she has not made disparaging, defaming, or derogatory remarks about the Company and/or the Related Parties, or their products, services, business practices, directors, officers, managers, or employees, to anyone, and agrees that she will not do so in the future. Similarly, Company officers and Board Members will likewise refrain from making any disparaging, defaming or derogatory remarks about Employee and agree not to do so in the future. Further, Company is willing to execute a mutually agreed upon letter that discusses accomplishments of Employee during her tenure and identifies that her resignation was accepted as of December 31, 2020. Otherwise, Company will only provide dates of employment, resignation and reference to the letter contemplated herein. Company officers and Board Members will not make statements contrary to the letter contemplated herein.

 Employee represents and warrants that she has not taken any action that may impair or interfere with the relations or business between the Company and/or the Related Parties, and their vendors, business partners, customers, employees, or agents, and agrees that she will not do so in the future.  
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Nothing in this section shall prohibit Employee from revealing the terms of this Agreement to the extent necessary to enforce its terms, nor shall it prohibit Employee from providing truthful information to any governmental agency with jurisdiction over the Company.    

        B.    The Parties acknowledge that the provisions contained in this section are material terms to the Agreement.  The Parties are specifically relying on these confidentiality provisions, representations, warranties, and confirmations from the other in making this Agreement, and would not have entered into this Agreement without them.

    5.    COMPANY INFORMATION AND PROPERTY. 

        A.    Employee shall not use or aid third parties in obtaining or using any confidential or proprietary Company information (defined below), nor access or attempt to access any Company computer systems, networks, or any resources or data that resides thereon. 

        Confidential or proprietary information is information relating to the Company and/or the Related Parties, or any aspect of their business which is not generally available to the public, the Company’s and/or Related Parties’ competitors, or other third parties, or ascertainable through common sense or general business or technical knowledge.  However, nothing in this section shall prohibit Employee from providing truthful information to any government agency with jurisdiction over the Company. Moreover, notwithstanding the foregoing or any other provision in this Agreement, Employee cannot be held criminally or civilly liable under any federal or state trade secret law if she discloses a trade secret to federal, state, or local government officials, to her attorneys, or in a sealed court document, for the purpose of reporting or investigating a suspected violation of the law; or to her attorneys or in a sealed court document in connection with a lawsuit for retaliation by an employer for reporting a suspected violation of the law.

B.    By signing this Agreement, Employee represents and warrants that: (i) she has returned all the Company property (including, but not limited to, credit cards; keys; cell phone; air card; access cards; thumb drive(s), laptop(s), personal digital devices and all other computer hardware and software; records, files, documents, manuals, and other materials in whatever form they exist, whether electronic, hard copy or otherwise, and all copies, notes, or summaries thereof, and has turned over all the Company log-ins, passwords, or access codes which she created, received, or otherwise obtained in connection with her employment); and (ii) she has permanently deleted any Company information that may reside on her personal computer(s), other devices or accounts.      

C.    Nothing in this Agreement shall relieve Employee from any obligations under any other previously executed confidentiality, proprietary information, or secrecy agreements.  All such agreements shall continue to be in full force and effect upon the execution of this Agreement.
6.    RIGHT TO REVIEW AND REVOKE.  The Parties entered into this agreement at a conference with counsel for Employee and Company present on February 24, 2021.  Employee acknowledges that while she has been advised in writing that she is entitled to at least twenty-one (21) days to consider the terms of this Agreement before signing, she has knowingly elected not to avail herself of the full twenty-one (21) day period and has consulted with her counsel regarding the same before entering into and executing this Agreement.  Employee acknowledges that she has voluntarily and knowingly signed this Agreement in exchange for valuable consideration that she would not have otherwise received. 
   
Regardless, Employee may revoke the Agreement during the seven (7) day period immediately following her execution of it.  The Agreement will not become effective or enforceable until the revocation period has expired.  To revoke the Agreement, a written notice of revocation must be delivered to the Company’s attorneys as follows: via email to rbolick@cshlaw.com.  Employee understands that if she revokes the Agreement she will not be entitled to any payments, promises, or other benefits set forth therein. 

7.    CLAWBACK. If Employee is found by a court of competent jurisdiction to have violated this Agreement, then she will: (i) return all monies received under this Agreement and the Company will be relieved of its obligations hereunder, except to the extent that such return and relief would result in invalidation of the release set forth above.  In any action seeking to enforce this Agreement, the prevailing party shall be entitled to indemnification by the non-prevailing party of all expenses, including the award of reasonable attorneys’ fees, incurred in bringing or defending such an action.

8.    OTHER.  Except as expressly provided in this Agreement, this Agreement supersedes all other understandings and agreements, oral or written, between the Parties and constitutes the sole agreement between the Parties with respect to its subject matter.  Each Party acknowledges that no representations, inducements, promises or agreements, oral or 
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written, have been made by any Party or by anyone acting on behalf of any Party, which are not embodied in this Agreement, and no agreement, statement or promise not contained in the Agreement shall be valid or binding on the Parties unless such change or modification is in writing and is signed by the Parties.  The Parties acknowledge that they have read and understand this Agreement—including the releases and waivers contained herein—and are entering into this Agreement voluntarily following consultation with counsel of their choice.  The Parties agree to cooperate fully and execute any and all supplementary documents and to take all additional action which may be necessary or appropriate to give full force and effect to the terms and intent of this Agreement.  

    Either Party’s waiver of any breach of a provision of this Agreement shall not waive any subsequent breach by the other Party.  If a court of competent jurisdiction holds that any provision or sub-part thereof contained in this Agreement is invalid, illegal or unenforceable, that invalidity, illegality or unenforceability shall not affect any other provision in this Agreement. 

    This Agreement shall apply to, be binding upon, and inure to the benefit of the Parties’ successors, assigns, heirs and other representatives. 

This Agreement shall be governed by North Carolina law.  

This Agreement is not intended, and shall not be construed, as an admission that the Company and/or the Related Parties, or any of them, have violated any federal, state, or local law, ordinance, or regulation, breached any contract, or committed any wrong whatsoever against Employee.

IN WITNESS WHEREOF, the Employee and Company have entered into this Agreement on the day and year written below.

Employee

____________________________________
Paula Labian            Date

Company:

____________________________________
HomeTrust Bancshares, Inc.        Date
By:  Dana L. Stonestreet, Chairman of the Board, President and Chief Executive Officer of HomeTrust Bancshares, Inc.

____________________________________
HomeTrust Bank            Date
By:    Dana L. Stonestreet, Chairman of the Board and Chief Executive Officer of HomeTrust Bank
5svmk-ex101_13.htm

Exhibit 10.1

SVMK INC.

2018 EQUITY INCENTIVE PLAN

RESTRICTED STOCK AWARD AGREEMENT 

NOTICE OF GRANT OF RESTRICTED STOCK 

Unless otherwise defined herein, the terms defined in the SVMK Inc. 2018 Equity Incentive Plan (the “Plan”) shall have the same defined meanings in this Restricted Stock Award Agreement, including the Notice of Grant of Restricted Stock (the “Notice of Grant”), the Terms and Conditions of Restricted Stock Grant, and any appendices and exhibits attached thereto (all together, the “Award Agreement”).

Name (“Participant):«Name»

Address:«Address»

The Participant has been granted the right to receive an Award of Shares of Restricted Stock, subject to the terms and conditions of the Plan and this Award Agreement, as follows:

Date of Grant:«GrantDate»

Vesting Commencement Date:«VCD»

Number of Shares of Restricted Stock:«Shares»

Vesting Schedule:

Subject to any acceleration provisions contained in the Plan or set forth below, the Shares of Restricted Stock will vest and the Company’s right to reacquire the Restricted Stock will lapse in accordance with the following vesting schedule, subject to Participant continuing to be a Service Provider on such dates:

[INSERT VESTING SCHEDULE]

In the event Participant ceases to be a Service Provider for any or no reason before Participant vests in the Shares of Restricted Stock, the Restricted Stock will be forfeited and automatically transferred to and reacquired by the Company at no cost to the Company upon the date of such termination and Participant will have no further rights thereunder.

Unless Participant contacts smequity@surveymonkey.com within ten (10) trading days following notification of the grant of the Award (by electronic means or otherwise) and rejects the Award of Shares of Restricted Stock and this Award Agreement, Participant shall be deemed to have (1) acknowledged receipt of a copy of the Plan, (2) represented that he or she is familiar with the terms and provisions thereof, and (3) accepted this Award of Shares of Restricted Stock and Award Agreement subject to all of the terms and provisions hereof including those set forth in this paragraph, (4) reviewed the Plan and this Award Agreement in their entirety, (5) had an opportunity to obtain the advice of counsel prior to rejecting or accepting this Award and the Award Agreement, (6) fully understood all provisions of this Award Agreement, (7) agreed to accept as binding, conclusive and 

 

4811-0197-3714.1

 

final all decisions or interpretations of the Administrator upon any questions arising under the Plan or this Award Agreement, and (8) agreed to notify the Company upon any change in the residence address, as indicated below or as otherwise on file with the Company.

 

 

	
PARTICIPANT
	
SVMK INC.

 

	

	

SignatureBy

	
«Name»
	
_____________
Print NamePrint Name

	

	
____________Title

Address:

 

«Address»

 

 

 

 

 

 

 

 

SVMK INC.

2018 EQUITY INCENTIVE PLAN

RESTRICTED STOCK AWARD AGREEMENT

TERMS AND CONDITIONS OF RESTRICTED STOCK GRANT

	
 
	
1.
	
Grant of Shares of Restricted Stock.  The Company hereby grants to the individual (the “Participant”) named in the Notice of Grant of Restricted Stock of this Award Agreement (the “Notice of Grant”) under the Plan an Award of Shares of Restricted Stock, subject to all of the terms and conditions in this Award Agreement and the Plan, which is incorporated herein by reference.  Subject to Section 19(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Award Agreement, the terms and conditions of the Plan shall prevail.

1.Escrow of Shares.

(a)All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”).  The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider.  

(b)The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment.

(c)Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company.  Participant hereby appoints the Escrow Holder with full power of substitution, as Participant’s true and lawful attorney-in‐fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination.  

(d)The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so.

(e)Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon.

(f)In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, 

 

4811-0197-3714.1

 

and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement.  If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement.  The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants.

(g)The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

	
 
	
2.
	
Vesting Schedule.  Except as provided in Section 4, and subject to Section 5, the Shares of Restricted Stock awarded by this Award Agreement will vest in accordance with the vesting schedule set forth in the Notice of Grant, subject to Participant continuing to be a Service Provider through each applicable vesting date.

	
 
	
1.
	
Discretionary Acceleration.  The Administrator, in its discretion, may accelerate the vesting of the balance, or some lesser portion of the balance, of the unvested Restricted Stock at any time, subject to the terms of the Plan. If so accelerated, such Restricted Stock will be considered as having vested as of the date specified by the Administrator.  

	
 
	
2.
	
Forfeiture Upon Termination as a Service Provider.  Notwithstanding any contrary provision of this Award Agreement, if Participant ceases to be a Service Provider for any or no reason, the balance of the Shares of Restricted Stock that have not vested as of the time Participant ceases to be a Service Provider for any or no reason will thereupon be forfeited and automatically transferred to and reacquired by the Company at no cost to the Company upon the date of such termination and Participant will have no further rights thereunder.  Participant will not be entitled to a refund of the price paid for the Shares of Restricted Stock, if any, returned to the Company pursuant to this Section 5.  Participant hereby appoints the Escrow Agent with full power of substitution, as Participant’s true and lawful attorney-in-fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares to the Company upon such termination of service.

	
 
	
3.
	
Death of Participant.  Any distribution or delivery to be made to Participant under this Award Agreement will, if Participant is then deceased, be made to Participant’s designated beneficiary, or if no beneficiary survives Participant, the administrator or 

 

 

	
 
		
executor of Participant’s estate.  Any such transferee must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer.

	
 
	
4.
	
Tax Consequences.  Participant has reviewed with its own tax advisors the U.S. federal, state, local and foreign tax consequences of this investment and the transactions contemplated by this Award Agreement.  With respect to such matters, Participant relies solely on such advisors and not on any statements or representations of the Company or any of its agents, written or oral.  Participant understands that Participant (and not the Company) shall be responsible for Participant’s own tax liability that may arise as a result of this investment or the transactions contemplated by this Award Agreement.

	
 
	
5.
	
Tax Obligations

	
 
	
1.
	
Responsibility for Taxes.  Participant acknowledges that, regardless of any action taken by the Company or, if different, Participant’s employer (the “Employer”) or Parent or Subsidiary to which Participant is providing services (together, the Company, Employer and/or the Parent or Subsidiary to which the Participant is providing services, the “Service Recipient”), the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Shares of Restricted Stock, including, without limitation, (a) all federal, state, and local taxes (including the Participant’s Federal Insurance Contributions Act (FICA) obligation) that are required to be withheld by the Company or the Service Recipient or other payment of tax-related items related to Participant’s participation in the Plan and legally applicable to Participant, (b) the Participant’s and, to the extent required by the Company (or Service Recipient), the Company’s (or Service Recipient’s) fringe benefit tax liability, if any, associated with the grant, vesting, or release from escrow of the Shares of Restricted Stock, the filing of an 83(b) election with respect to the Shares of Restricted Stock, or the sale of Shares, and (c) any other Company (or Service Recipient) taxes the responsibility for which the Participant has, or has agreed to bear, with respect to the Shares of Restricted Stock (or issuance of Shares thereunder) (collectively, the “Tax Obligations”), is and remains Participant’s responsibility and may exceed the amount actually withheld by the Company or the Service Recipient.  Participant further acknowledges that the Company and/or the Service Recipient (i) make no representations or undertakings regarding the treatment of any Tax Obligations in connection with any aspect of the Shares of Restricted Stock, including, but not limited to, the grant, vesting or release from escrow of the Shares of Restricted Stock, the filing of an 83(b) election with respect to the Shares of Restricted Stock, the subsequent sale of Shares acquired pursuant to this Award Agreement and the receipt of any dividends or other distributions, and (ii) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the Award of Restricted Stock to reduce or eliminate Participant’s liability for Tax Obligations or achieve any particular tax result.  Further, if Participant is subject 

 

 

	
 
		
to Tax Obligations in more than one jurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, Participant acknowledges that the Company and/or the Service Recipient (or former employer, as applicable) may be required to withhold or account for Tax Obligations in more than one jurisdiction.  If Participant fails to make satisfactory arrangements for the payment of any required Tax Obligations hereunder at the time of the applicable taxable event, Participant acknowledges and agrees that the Company may refuse to issue or deliver the Shares.  Participant understands that Section 83 of the Code taxes as ordinary income the difference between the purchase price, if any, for the Shares and the Fair Market Value of the Shares as of each vesting date.  If Participant is a U.S. taxpayer, Participant understands that Participant may elect, for purposes of U.S. tax law, to be taxed at the time the Shares are granted rather than when such Shares vest by filing an election under Section 83(b) of the Code (the “83(b) Election”) with the IRS within thirty (30) days from the date of grant of the Award of Shares of Restricted Stock.

	
 
	
2.
	
Tax Withholding.  When Shares of Restricted Stock are vested, Participant generally will recognize immediate U.S. taxable income if Participant is a U.S. taxpayer.  If Participant is a non-U.S. taxpayer, Participant will be subject to applicable taxes in his or her jurisdiction.  Pursuant to such procedures as the Administrator may specify from time to time, the Company and/or Service Recipient shall withhold the amount required to be withheld for the payment of Tax Obligations or other greater amount up to the maximum statutory rate under Applicable Laws, as applicable to the Participant, if such other greater amount would not result in adverse financial accounting treatment, as determined by the Company.  The Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may permit Participant to satisfy such Tax Obligations, in whole or in part (without limitation), if permissible by applicable local law, by (i) paying cash, (ii) electing to have the Company withhold otherwise deliverable Shares having a Fair Market Value equal to the amount of such Tax Obligations, (iii) withholding the amount of such Tax Obligations from Participant’s wages or other cash compensation paid to Participant by the Company and/or the Service Recipient, (iv) delivering to the Company already vested and owned Shares having a Fair Market Value equal to such Tax Obligations, or (v) selling a sufficient number of such Shares otherwise deliverable to Participant through such means as the Company may determine in its sole discretion (whether through a broker or otherwise) equal to the amount of the Tax Obligations.  To the extent determined appropriate by the Company in its discretion, it will have the right (but not the obligation) to satisfy any Tax Obligations by reducing the number of Shares otherwise deliverable to Participant and, until determined otherwise by the Company, this will be the method by which such Tax Obligations are satisfied.  Further, if Participant is subject to tax in more than one jurisdiction between the Date of Grant and a date of any relevant taxable or tax withholding event, as applicable, Participant acknowledges and agrees that the Company and/or the Service 

 

 

	
 
		
Recipient (and/or former employer, as applicable) may be required to withhold or account for tax in more than one jurisdiction. .

	
 
	
3.
	
Company’s Obligation to Release Shares.  For clarification purposes, in no event will the Company release Shares from the escrow established pursuant to Section 2 unless and until arrangements satisfactory to the Administrator have been made for the payment of Participant’s Tax Obligations.  If Participant fails to make satisfactory arrangements for the payment of such Tax Obligations hereunder at the time any applicable Shares of Restricted Stock otherwise are scheduled to vest pursuant to Sections 3 or 4, at the time Participant files a timely 83(b) Election with the IRS, or Participant’s Tax Obligations otherwise become due, Participant will permanently forfeit such Shares of Restricted Stock to which Participant’s Tax Obligation relates and any right to receive Shares thereunder and such Shares of Restricted Stock will be returned to the Company at no cost to the Company.  Participant acknowledges and agrees that the Company may refuse to issue or deliver the Shares if such Tax Obligations are not delivered at the time they are due. 

	
 
	
4.
	
If the Tax Obligations will be satisfied in accordance with Section 8(b)(v) above (by Shares being sold on Participant’s behalf at the prevailing market price pursuant to such procedures as the Company may specify from time to time, including through a broker-assisted arrangement, it being understood that the Shares to be sold must have vested pursuant to the terms of this Award Agreement and the Plan), the proceeds from the sale will be used to satisfy the Tax Obligations (and any associated broker or other fees). Only whole Shares will be sold to satisfy any Tax Obligations. Any proceeds from the sale of Shares in excess of the Tax Obligations (and any associated broker or other fees) will be paid to Participant in accordance with procedures the Company may specify from time to time. By accepting this Award, Participant expressly consents to the sale of Shares to cover the Tax Obligations (and any associated broker or other fees) and authorizes and directs the Company and any brokerage firm determined acceptable to the Company to sell on Participant’s behalf a whole number of Shares from those Shares issued or delivered to Participant as the Company determines to be appropriate to generate cash proceeds sufficient to satisfy the Tax Obligations (and any associated broker or other fees).

	
 
	
6.
	
Rights as Stockholder.  Neither Participant nor any person claiming under or through Participant will have any of the rights or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates representing such Shares (which may be in book entry form) will have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to Participant (including through electronic delivery to a brokerage account) or the Escrow Agent.  Except as provided in Section 2, after such issuance, recordation and delivery, Participant will have all the rights of a stockholder of the Company with respect to voting such Shares and receipt of dividends and distributions on such Shares.

 

 

	
 
	
7.
	
No Guarantee of Continued Service.  PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF THE SHARES OF RESTRICTED STOCK PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER, WHICH UNLESS PROVIDED OTHERWISE UNDER APPLICABLE LAW IS AT THE WILL OF THE COMPANY (OR THE SERVICE RECIPIENT) AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS AWARD OF RESTRICTED STOCK OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AWARD AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT OF THE COMPANY (OR THE SERVICE RECIPIENT) TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER, SUBJECT TO APPLICABLE LAW, WHICH TERMINATION, UNLESS PROVIDED OTHERWISE UNDER APPLICABLE LAW, MAY BE AT ANY TIME, WITH OR WITHOUT CAUSE.

	
 
	
8.
	
Grant is Not Transferable.  Except for the escrow described in Section 2 or transfer of the Shares to the Company or its assignees contemplated by this Award Agreement, and except to the limited extent provided in Section 6, the unvested Shares subject to this Award Agreement and the rights and privileges conferred hereby will not be transferred, assigned, pledged or otherwise alienated or hypothecated in any way (whether by operation of law or otherwise) and will not be subject to sale under execution, attachment or similar process.  Upon any attempt to transfer, assign, pledge, alienate, hypothecate or otherwise dispose of any unvested Shares of Restricted Stock subject to this grant, or any right or privilege conferred hereby, or upon any attempted sale under any execution, attachment or similar process, this grant and the rights and privileges conferred hereby immediately will become null and void.

	
 
	
9.
	
Nature of Grant.  In accepting the grant, Participant acknowledges, understands and agrees that:

	
 
	
1.
	
the grant of the Shares of Restricted Stock is voluntary and occasional and does not create any contractual or other right to receive future grants of Shares of Restricted Stock, or benefits in lieu of Restricted Stock, even if Shares of Restricted Stock have been granted in the past; 

	
 
	
2.
	
all decisions with respect to future grants of Restricted Stock or other grants, if any, will be at the sole discretion of the Company; 

	
 
	
3.
	
Participant is voluntarily participating in the Plan; 

	
 
	
4.
	
the Shares of Restricted Stock are not intended to replace any pension rights or compensation;

 

 

	
 
	
5.
	
the Shares of Restricted Stock, and the income and value of same, are not part of normal or expected compensation for purposes of calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-term service awards, pension or retirement or welfare benefits or similar payments; 

	
 
	
6.
	
the future value of the underlying Shares is unknown, indeterminable, and cannot be predicted with certainty; 

	
 
	
7.
	
for purposes of the Shares of Restricted Stock, Participant’s status as a Service Provider will be considered terminated as of the date Participant is no longer actively providing services to the Company or any Parent or Subsidiary (regardless of the reason for such termination and whether or not later to be found invalid or in breach of employment laws in the jurisdiction where Participant is a Service Provider or the terms of Participant’s employment or service agreement, if any), and unless otherwise expressly provided in this Award Agreement (including by reference in the Notice of Grant to other arrangements or contracts) or determined by the Administrator, Participant’s right to vest in the Shares of Restricted Stock under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g., Participant’s period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where Participant is a Service Provider or the terms of Participant’s employment or service agreement, if any, unless Participant is providing bona fide services during such time); the Administrator shall have the exclusive discretion to determine when Participant is no longer actively providing services for purposes of the Restricted Stock grant (including whether Participant may still be considered to be providing services while on a leave of absence and consistent with local law); 

	
 
	
8.
	
unless otherwise provided in the Plan or by the Company in its discretion, the Shares of Restricted Stock and the benefits evidenced by this Award Agreement do not create any entitlement to have the Restricted Stock or any such benefits transferred to, or assumed by, another company nor to be exchanged, cashed out or substituted for, in connection with any corporate transaction affecting the Shares; and

	
 
	
9.
	
the following provisions apply only if Participant is providing services outside the United States:

	
 
	
1.
	
the Shares of Restricted Stock are not part of normal or expected compensation or salary for any purpose;

	
 
	
2.
	
Participant acknowledges and agrees that none of the Company, the Service Recipient or any Parent or Subsidiary shall be liable for any foreign exchange rate fluctuation between Participant’s local currency 

 

 

	
 
		
and the United States Dollar that may affect the value of the Shares of Restricted Stock or the subsequent sale of any Shares; and

	
 
	
3.
	
no claim or entitlement to compensation or damages shall arise from forfeiture of the Restricted Stock resulting from the termination of Participant’s status as a Service Provider (for any reason whatsoever whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is a Service Provider or the terms of Participant’s employment or service agreement, if any), and in consideration of the grant of the Shares of Restricted Stock to which Participant is otherwise not entitled, Participant irrevocably agrees never to institute any claim against the Company, any Parent, any Subsidiary or the Service Recipient, waives his or her ability, if any, to bring any such claim, and releases the Company, any Parent or Subsidiary and the Service Recipient from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, Participant shall be deemed irrevocably to have agreed not to pursue such claim and agrees to execute any and all documents necessary to request dismissal or withdrawal of such claim.

	
 
	
10.
	
No Advice Regarding Grant.  The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan, or Participant’s acquisition or sale of the underlying Shares.  Participant is hereby advised to consult with his or her own personal tax, legal and financial advisors regarding his or her participation in the Plan before taking any action related to the Plan.

	
 
	
11.
	
Data Privacy.  Participant hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of Participant’s personal data as described in this Award Agreement and any other Restricted Stock grant materials by and among, as applicable, the Employer or other Service Recipient, the Company and any Parent or Subsidiary for the exclusive purpose of implementing, administering and managing Participant’s participation in the Plan.

 

Participant understands that the Company and the Service Recipient may hold certain personal information about Participant, including, but not limited to, Participant’s name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any Shares or directorships held in the Company, details of all Shares of Restricted Stock or any other entitlement to Shares awarded, canceled, exercised, vested, unvested or outstanding in Participant’s favor (“Data”), for the exclusive purpose of implementing, administering and managing the Plan.  

Participant understands that Data will be transferred to a stock plan service provider as may be selected by the Company in the future, which is assisting the Company with the implementation, administration and management of the Plan.  Participant understands that the recipients of the Data may be located in the United States or elsewhere, and that the recipient’s country of operation 

 

 

(e.g., the United States) may have different data privacy laws and protections than Participant’s country.  Participant understands that if he or she resides outside the United States, he or she may request a list with the names and addresses of any potential recipients of the Data by contacting his or her local human resources representative.  Participant authorizes the Company, any stock plan service provider selected by the Company and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering and managing his or her participation in the Plan.  Participant understands that Data will be held only as long as is necessary to implement, administer and manage Participant’s participation in the Plan.  Participant understands that if he or she resides outside the United States, he or she may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing his or her local human resources representative.  Further, Participant understands that he or she is providing the consents herein on a purely voluntary basis.  If Participant does not consent, or if Participant later seeks to revoke his or her consent, his or her status as a Service Provider and career with the Service Recipient will not be adversely affected; the only adverse consequence of refusing or withdrawing Participant’s consent is that the Company would not be able to grant Participant Shares of Restricted Stock or other equity awards or administer or maintain such awards.  Therefore, Participant understands that refusing or withdrawing his or her consent may affect Participant’s ability to participate in the Plan.  For more information on the consequences of Participant’s refusal to consent or withdrawal of consent, Participant understands that he or she may contact his or her local human resources representative.

	
 
	
12.
	
Address for Notices.  Any notice to be given to the Company under the terms of this Award Agreement will be addressed to the Company at SVMK Inc., One Curiosity Way, San Mateo, California 94403, or at such other address as the Company may hereafter designate in writing.

	
 
	
13.
	
Electronic Delivery and Acceptance.  The Company may, in its sole discretion, decide to deliver any documents related to the Shares of Restricted Stock awarded under the Plan or future Shares of Restricted Stock that may be awarded under the Plan by electronic means or request Participant’s consent to participate in the Plan by electronic means.  Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through any on-line or electronic system established and maintained by the Company or another third party designated by the Company.

	
 
	
14.
	
No Waiver.  Either party’s failure to enforce any provision or provisions of this Award Agreement shall not in any way be construed as a waiver of any such provision or provisions, nor prevent that party from thereafter enforcing each and every other provision of this Award Agreement.  The rights granted both parties herein are cumulative and shall not constitute a waiver of either party’s right to assert all other legal remedies available to it under the circumstances.

	
 
	
15.
	
Successors and Assigns.  The Company may assign any of its rights under this Award Agreement to single or multiple assignees, and this Award Agreement shall inure to 

 

 

	
 
		
the benefit of the successors and assigns of the Company.  Subject to the restrictions on transfer herein set forth, this Award Agreement shall be binding upon Participant and his or her heirs, executors, administrators, successors and assigns.  The rights and obligations of Participant under this Award Agreement may only be assigned with the prior written consent of the Company.

	
 
	
16.
	
Additional Conditions to Issuance of Stock.  If at any time the Company will determine, in its discretion, that the listing, registration, qualification or rule compliance of the Shares upon any securities exchange or under any state, federal or foreign law, the tax code and related regulations or under the rulings or regulations of the United States Securities and Exchange Commission or any other governmental regulatory body or the clearance, consent or approval of the United States Securities and Exchange Commission or any other governmental regulatory authority is necessary or desirable as a condition to the issuance of Shares to Participant (or his or her estate) or the Escrow Holder hereunder, such issuance will not occur unless and until such listing, registration, qualification, rule compliance, clearance, consent or approval will have been completed, effected or obtained free of any conditions not acceptable to the Company.  Subject to the terms of the Award Agreement and the Plan, the Company shall not be required to issue any certificate or certificates for Shares hereunder prior to the lapse of such reasonable period of time following the Date of Grant of the Restricted Stock as the Administrator may establish from time to time for reasons of administrative convenience.

	
 
	
17.
	
Language.  If Participant has received this Award Agreement or any other document related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control.

	
 
	
18.
	
Interpretation.  The Administrator will have the power to interpret the Plan and this Award Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules (including, but not limited to, the determination of whether or not any Shares of Restricted Stock have vested).  All actions taken and all interpretations and determinations made by the Administrator in good faith will be final and binding upon Participant, the Company and all other interested persons.  Neither the Administrator nor any person acting on behalf of the Administrator will be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or this Award Agreement.

	
 
	
19.
	
Captions.  Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of this Award Agreement.

	
 
	
20.
	
Modifications to the Award Agreement.  This Award Agreement constitutes the entire understanding of the parties on the subjects covered.  Participant expressly warrants that he or she is not accepting this Award Agreement in reliance on any promises, representations, or inducements other than those contained herein.  Modifications to this Award Agreement or the Plan can be made only in an express written contract 

 

 

	
 
		
executed by a duly authorized officer of the Company.  Notwithstanding anything to the contrary in the Plan or this Award Agreement, the Company reserves the right to revise this Award Agreement as it deems necessary or advisable, in its sole discretion and without the consent of Participant, to comply with Section 409A or to otherwise avoid imposition of any additional tax or income recognition under Section 409A in connection to this Award of Shares of Restricted Stock.  For purposes of this Award Agreement, “Section 409A” means Section 409A of the Code, and any final Treasury Regulations and Internal Revenue Service guidance thereunder, as each may be amended from time to time.

	
 
	
21.
	
Governing Law and Venue.  This Award Agreement will be governed by the laws of California, without giving effect to the conflict of law principles thereof.  For purposes of litigating any dispute that arises under the Shares of Restricted Stock or this Award Agreement, the parties hereby submit to and consent to the jurisdiction of the State of California, and agree that such litigation will be conducted in the courts of San Mateo County, California or the federal courts for the United States for the Northern District of California, and no other courts.

	
 
	
22.
	
Agreement Severable.  In the event that any provision in this Award Agreement will be held invalid or unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of this Award Agreement.

	
 
	
23.
	
Amendment, Suspension or Termination of the Plan.  By accepting this Award, Participant expressly warrants that he or she has received Shares of Restricted Stock under the Plan, and has received, read and understood a description of the Plan.  Participant understands that the Plan is discretionary in nature and may be amended, suspended or terminated by the Company at any time.

	
 
	
24.
	
Entire Agreement. The Plan is incorporated herein by reference. The Plan and this Award Agreement (including the appendices and exhibits referenced herein) constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof, and may not be modified adversely to the Participant’s interest except by means of a writing signed by the Company and Participant.

	
 
	
25.
	
Country Addendum.  Notwithstanding any provisions in this Award Agreement, the Restricted Stock grant shall be subject to any special terms and conditions set forth in the appendix (if any) to this Award Agreement for Participant’s country (the “Country Addendum”).  Moreover, if Participant relocates to one of the countries included in the Country Addendum, the special terms and conditions for such country will apply to Participant, to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons.  The Country Addendum (if any) constitutes part of this Award Agreement.

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