Document:

EXHIBIT
10.1(a)

 

FORM
OF NON-EMPLOYEE DIRECTOR RESTRICTED STOCK AGREEMENT

 

RESTRICTED STOCK AGREEMENT

 

THIS
RESTRICTED STOCK AGREEMENT (this “Agreement”) is made as of                              ,                    between
Symmetry Medical Inc., a Delaware corporation (the “Company”), and
                                     (“Grantee”).

 

WHEREAS,
the Grantee is a director of the Company; and

 

WHEREAS,
the grant of the shares of restricted stock (as governed by the Company’s
Amended and Restated 2004 Equity Incentive Plan (the “Plan”)) to the
Grantee described herein has been authorized by the Company’s Compensation
Committee and Board of Directors (the “Board”).

 

NOW,
THEREFORE, pursuant to the Plan, the Company, upon the terms and conditions set
forth herein, hereby grants to you 1,000 restricted shares of Common Stock, par
value $.0001, (“Common Stock”) of the Company (the “Restricted Shares”)
effective as of the date hereof (the “Date of Grant”), and subject to
the terms and conditions of the Plan and the terms and conditions of this
Agreement.

 

1.
Definitions. All capitalized terms used herein and not otherwise defined
herein shall have the meanings assigned to them in the Plan.

 

2.
Issuance of Shares. In consideration of the Grantee’s service as a director
of the Company, the Restricted Shares shall be issued to the Grantee, and, upon
payment to the Company by the Grantee of the aggregate par value thereof, which
payment shall be made within 10 days of the date hereof, shall be fully paid
and nonassessable and shall be represented by a certificate or certificates
issued in the name of the Grantee and endorsed with an appropriate legend
referring to the restrictions hereinafter set forth.

 

3.
Restrictions on Transfer of Shares. The Restricted Shares may not be
sold, assigned, transferred, conveyed, pledged, exchanged or otherwise
encumbered or disposed of (each, a “Transfer”) by the Grantee, except to
the Company, until they have become nonforfeitable as provided in Section 4
hereof. Any purported encumbrance or disposition in violation of the provisions
of this Section 3 shall be void AB INITIO,
and the other party to any such purported transaction shall not obtain any
rights to or interest in the Restricted Shares. As and when permitted by the
Plan, the Committee may in its sole discretion waive the restrictions on
transferability with respect to all or a portion of the Restricted Shares.
Notwithstanding the foregoing, Grantee may not Transfer Restricted Shares which
have become nonforfeitable as provided in Section 3 hereof unless such
Restricted Shares are registered pursuant to the Securities Act of 1933 (the “Securities
Act”) or under Rule 144 promulgated under the Securities Act or unless the
Company and its counsel agree with Grantee that such Transfer is not required
to be registered under the Securities Act.

 

4.
Vesting of Shares.

 

(a)
Subject to Section 5 hereof, the Restricted Shares shall vest and become
nonforfeitable if the Grantee remains a director of the Company through the
vesting dates set forth below with respect to the number of Restricted Shares
set forth next to such date:

 

	
  Vesting Date

  	
   

  	
  Number of Restricted

  Shares Vesting on

  such Vesting Date

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  December 31, 2006

  	
   

  	
  333.33

  	
   

  
	
  December 31, 2007

  	
   

  	
  333.33

  	
   

  
	
  December 31, 2008

  	
   

  	
  333.33

  	
   

  

 

1

 

(b)
Notwithstanding the provisions of Section 4(a) above, in connection with a
Change in Control, the provisions set forth in Section 13 of the Plan shall
govern with respect to the acceleration of the vesting of the Restricted
Shares.

 

(c)
Notwithstanding the provisions of Section 4(a) above, the Board may, in its
sole discretion, accelerate the vesting of shares of the Restricted Shares at
any time.

 

5.
Forfeiture of Shares. If the Grantee ceases to be a director of the
Company due to death, Disability or Retirement during any period of
restriction, any non-vested Restricted Shares shall immediately vest and all
restrictions on the Restricted Shares shall lapse. If the Grantee ceases to be
a director of the Company for any other reason, any non-vested Restricted
Shares shall be forfeited by the Grantee and the certificate(s) representing
the non-vested portion of the Restricted Shares so forfeited shall be canceled.

 

6.
Dividend, Voting and Other Rights. Except as otherwise provided in this
Agreement, from and after the Date of Grant, the Grantee shall have all of the
rights of a stockholder with respect to the Restricted Shares, including the
right to vote the Restricted Shares and receive any dividends that may be paid
thereto, provided, however, that any additional Common Stock or other
securities that the Grantee may become entitled to receive pursuant to a stock
dividend, stock split, recapitalization, combination of shares, merger,
consolidation, separation or reorganization or any other change in the capital
structure of the Company shall be subject to the same risk of forfeiture and
restrictions on transfer as the forfeitable Restricted Shares in respect of
which they are issued or transferred and shall become Restricted Shares for the
purposes of this Agreement.

 

7.
Retention of Stock Certificate(s) by the Company. The certificate(s)
representing the Restricted Shares shall be held in custody by the Company,
together with a stock power in the form of Exhibit A hereto which shall be
endorsed in blank by the Grantee and delivered to the Company within 10 days of
the date hereof, until such shares have become nonforfeitable in accordance
with Section 4.

 

8.
Investment Representation. Grantee hereby represents and warrants to the
Company that: (i) the Grantee has had an opportunity to ask questions and
receive answers concerning the terms and conditions of the offering of the
Restricted Shares and has had full access to such other information concerning the
Company as it has requested; (ii) Grantee is acquiring the Restricted Shares to
be acquired by it hereunder for its own account with the present intention of
holding such securities for purposes of investment; (iii) Grantee is an “accredited
investor” within the meaning of Rule 501 Regulation D promulgated under the
Securities Act; (iv) Grantee understands that the Restricted Shares constitute “restricted
securities” within the meaning of Rule 144 promulgated under the Securities Act
and the certificates representing such Restricted Shares will bear a legend
stating, and Grantee hereby agrees, that such securities may not be transferred
without the consent of the issuer or its legal counsel as to compliance with
the Securities Act; (v) Grantee does not intend to sell such securities in a
public distribution in violation of any applicable foreign, federal or state
securities laws.

 

9.  Reserved.

 

10.
Compliance with Law. The Company shall make reasonable efforts to comply
with all applicable federal and state securities laws, provided, however,
notwithstanding any other provision of this Agreement, the Company shall not be
obligated to issue or release from restrictions on transfer any Restricted
Shares pursuant to this Agreement if such issuance or release would result in a
violation of any such law.

 

11.
Withholding Taxes. If the Company shall be required to withhold any
federal, state, local or foreign tax in connection with any issuance or vesting
of Restricted Shares or other securities pursuant to this Agreement, and the
amounts available to the Company for such withholding are insufficient, the
Grantee shall pay the tax or make provisions that are satisfactory to the
Company for the payment thereof. The Grantee may elect to satisfy all or any
part of any such withholding obligation by surrendering to the Company a
portion of the Restricted Shares that become nonforfeitable hereunder, and the
Restricted Shares so surrendered by the Grantee shall be credited against any
such withholding obligation at the market value (determined with reference to
the then current price of the Company’s Common Stock as quoted on the New York
Stock Exchange) per Share of such Restricted Shares on the date of such
surrender.

 

12.
Conformity with Plan. The Agreement and the Restricted Shares granted
pursuant hereto are intended to conform in all respects with, and are subject
to all applicable provisions of, the Plan (which is incorporated herein by

 

2

 

reference). Inconsistencies between this
letter agreement and the Plan shall be resolved in accordance with the terms of
the Plan. By executing this Agreement, you acknowledge and agree to be bound by
all of the terms of this Agreement and the Plan.

 

13.
Amendments. The provisions of this Agreement may be amended and waived
only with the prior written consent of the Company and the Grantee.

 

14.
Severability. In the event that one or more of the provisions of this
Agreement shall be invalidated for any reason by a court of competent jurisdiction,
any provision so invalidated shall be deemed to be separable from the other
provisions hereof, and the remaining provisions hereof shall continue to be
valid and fully enforceable.

 

15.
Successors and Assigns. The provisions of this Agreement shall inure to
the benefit of, and be binding upon, the successors, administrators, heirs,
legal representatives and assigns of the Grantee and the successors and assigns
of the Company.

 

16.
Notices. Any notice to the Company provided for herein shall be in
writing to the attention of the Secretary of the Company at Symmetry Medical
Inc., 220 W. Market Street, Warsaw, Indiana 46580, and any notice to the
Grantee shall be addressed to the Grantee at his address currently on file with
the Company. Except as otherwise provided herein, any written notice shall be
deemed to be duly given if and when hand delivered, or five business days after
having been mailed by United States registered or certified mail, return
receipt requested, postage prepaid, or three business days after having been
sent by a nationally recognized overnight courier service, addressed as
aforesaid. Any party may change the address to which notices are to be given
hereunder by written notice to the other party as herein specified, except that
notices of changes of address shall be effective only upon receipt.

 

17.
Governing Law. The laws of the State of New York, without giving effect
to the principles of conflict of laws thereof, shall govern the interpretation,
performance and enforcement of this Agreement.

 

IN
WITNESS WHEREOF, the undersigned have executed this Agreement as of the date
first set forth above.

 

 

	
   

  	
  SYMMETRY
  MEDICAL INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
  ACKNOWLEDGED
  AND AGREED:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (Signature of Grantee)

  	
   

  
				

 

EXHIBIT “A”

FORM OF ASSIGNMENT
SEPARATE FROM CERTIFICATE

 

FOR VALUE RECEIVED,                                      hereby sells, assigns and transfers unto
                                        ,
             shares
of the Common Stock, par value $0.001 per share, of Symmetry Medical Inc., a
Delaware corporation (the “Company”) standing in its name on the books
of said Company represented by Certificate Number
            , and
does hereby irrevocably constitute and appoint
                    
as attorney to transfer the said stock on the books of the Company with full
power of substitution in the premises.

 

	
  Date:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Holder

  

 

3EXHIBIT
10.1(b)

 

FORM
OF EMPLOYEE RESTRICTED STOCK AGREEMENT

 

RESTRICTED STOCK AGREEMENT

 

THIS
RESTRICTED STOCK AGREEMENT (this “Agreement”) is made as of
            , 200  between
Symmetry Medical Inc., a Delaware corporation (the “Company”), and                        
(“Grantee”).

 

WHEREAS,
the Grantee is an employee of the Company; and

 

WHEREAS,
the grant of the shares of restricted stock (as governed by the Company’s
Amended and Restated 2004 Equity Incentive Plan (the “Plan”) to the
Grantee described herein has been approved by the Company’s Compensation
Committee.

 

NOW,
THEREFORE, pursuant to the Plan, the Company, upon the terms and conditions set
forth herein, hereby grants to you                       
restricted shares of Common Stock, par value $.0001, (“Common Stock”) of
the Company (the “Restricted Shares”) effective as of the date hereof
(the “Date of Grant”), and subject to the terms and conditions of the
Plan and the terms and conditions of this Agreement.

 

1.
Definitions. All capitalized terms used herein and not otherwise defined
herein shall have the meanings assigned to them in the Plan.

 

2.
Issuance of Shares. In consideration of the Grantee’s service as an
employee of the Company, the Restricted Shares shall be issued to the Grantee,
and, upon payment to the Company by the Grantee of the aggregate par value
thereof, which payment shall be made within 10 days of the date hereof, shall
be fully paid and nonassessable and shall be represented by a certificate or
certificates issued in the name of the Grantee and endorsed with an appropriate
legend referring to the restrictions hereinafter set forth.

 

3.
Restrictions on Transfer of Shares. The Restricted Shares may not be
sold, assigned, transferred, conveyed, pledged, exchanged or otherwise encumbered
or disposed of (each, a “Transfer”) by the Grantee, except to the
Company, unless and until they have become nonforfeitable as provided in
Section 4 hereof. Any purported encumbrance or disposition in violation of the
provisions of this Section 3 shall be void AB
INITIO, and the other party to any such purported transaction shall
not obtain any rights to or interest in the Restricted Shares. As and when
permitted by the Plan, the Committee may in its sole discretion waive the
restrictions on transferability with respect to all or a portion of the
Restricted Shares. Notwithstanding the foregoing, Grantee may not Transfer
Restricted Shares which have become nonforfeitable as provided in Section 4
hereof unless such Restricted Shares are registered pursuant to the Securities
Act of 1933 (the “Securities Act”), are sold under Rule 144 promulgated
under the Securities Act or unless the Company, after consultation with
counsel, and its counsel agree with Grantee that such Transfer is not required
to be registered under the Securities Act.

 

4.
Vesting of Shares.

 

(a)
Subject to paragraph (b) below and Section 5 hereof, the Restricted Shares
shall vest and become nonforfeitable if the Grantee remains an employee of the
Company through the last day of the fiscal year relating to calendar year 2008.

 

(b)
Notwithstanding the provisions of Section 4(a) above, the Restricted Shares
shall vest and become nonforfeitable as set forth in Section 4(a) above on the
vesting date only if the Company achieves: (i) an aggregate amount of Operating
Income for the fiscal years relating to calendar years 2006, 2007 and 2008, at
least equal to (ii) the aggregate amount of Minimum Operating Income for such
three fiscal years. For purposes of the Section 4, “Operating Income”
shall mean, with respect to any Person(s) for any period, the earnings of such
Person(s) for such period before interest and taxes for such period, determined
on a consolidated basis in accordance with United States generally accepted
accounting principles as in effect from time to time. “Minimum Operating
Income” shall mean, with respect to any fiscal year, targeted Operating
Income with respect to such fiscal year as such targeted Operating Income is
(A) determined in accordance with the Company’s budgeting and forecast
procedures, and (B) approved by the Committee. Determinations and
interpretations of the Committee on all matters relating to the Plan and this
Agreement, including determinations and interpretations with respect to
Operating Income and Minimum Operating 

 

1

 

Income, shall be in the Committee’s sole
discretion and shall be conclusive and binding on the Grantee and the Company.

 

(c)
Notwithstanding the provisions of Section 4(a) above, in connection with a
Change in Control, the provisions set forth in Section 13 of the Plan shall
govern with respect to the acceleration of the vesting of the Restricted
Shares.

 

(d)
Notwithstanding the provisions of Section 4(a) or 4(b) above, the Committee
may, in its sole discretion, vest or accelerate the vesting of shares of the
Restricted Shares at any time.

 

5.
Forfeiture of Shares. If the Grantee ceases to be an employee of the
Company due to death or Disability during any period of restriction, any
non-vested Restricted Shares shall immediately vest and all restrictions on the
Restricted Shares shall lapse and certificate(s) representing such Restricted
Shares shall be delivered by the Company reasonably promptly upon a request by
the Grantee. If the Grantee ceases to be an employee of the Company for any
other reason, any non-vested Restricted Shares shall be forfeited by the
Grantee and the certificate(s) representing the non-vested portion of the
Restricted Shares so forfeited shall be canceled.

 

6.
Dividend, Voting and Other Rights. Except as otherwise provided in this
Agreement, from and after the Date of Grant, the Grantee shall have all of the
rights of a stockholder with respect to the Restricted Shares, including the
right to vote the Restricted Shares and receive any dividends that may be paid
thereto, provided, however, that any additional Common Stock or other
securities that the Grantee may become entitled to receive pursuant to a stock
dividend, stock split, recapitalization, combination of shares, merger,
consolidation, separation or reorganization or any other change in the capital
structure of the Company shall be subject to the same risk of forfeiture,
certificate delivery provisions and restrictions on transfer as the forfeitable
Restricted Shares in respect of which they are issued or transferred and shall
become Restricted Shares for the purposes of this Agreement.

 

7.
Retention of Stock Certificate(s) by the Company. The certificate(s)
representing the Restricted Shares shall be held in custody by the Company,
together with a stock power in the form of Exhibit A hereto which shall be
endorsed in blank by the Grantee and delivered to the Company within 10 days of
the date hereof, until such shares have become nonforfeitable in accordance with
Section 4.

 

8.
Compliance with Law. The Company shall make reasonable efforts to comply
with all applicable federal and state securities laws, provided, however,
notwithstanding any other provision of this Agreement, the Company shall not be
obligated to issue or release from restrictions on transfer any Restricted
Shares pursuant to this Agreement if such issuance or release would result in a
violation of any such law.

 

9.
Withholding Taxes. If the Company shall be required to withhold any
federal, state, local or foreign tax in connection with any issuance or vesting
of Restricted Shares or other securities pursuant to this Agreement, and the
amounts available to the Company for such withholding are insufficient, the
Grantee shall pay the tax or make provisions that are satisfactory to the
Company for the payment thereof. The Grantee may elect to satisfy all or any
part of any such withholding obligation by surrendering to the Company a
portion of the Restricted Shares that become nonforfeitable hereunder, and the
Restricted Shares so surrendered by the Grantee shall be credited against any
such withholding obligation at the market value (determined with reference to
the then current price of the Company’s Common Stock as quoted on the New York
Stock Exchange) per Share of such Restricted Shares on the date of such
surrender.

 

10.
Conformity with Plan. The Agreement and the Restricted Shares granted
pursuant hereto are intended to conform in all respects with, and are subject
to all applicable provisions of, the Plan (which is incorporated herein by
reference). Inconsistencies between this letter agreement and the Plan shall be
resolved in accordance with the terms of the Plan. By executing this Agreement,
you acknowledge and agree to be bound by all of the terms of this Agreement and
the Plan.

 

11.
Amendments. The provisions of this Agreement may be amended and waived
only with the prior written consent of the Company and the Grantee.

 

12.
Severability. In the event that one or more of the provisions of this Agreement
shall be invalidated for any reason by a court of competent jurisdiction, any
provision so invalidated shall be deemed to be separable from the other
provisions hereof, and the remaining provisions hereof shall continue to be
valid and fully enforceable.

 

2

 

13.
Successors and Assigns. The provisions of this Agreement shall inure to
the benefit of, and be binding upon, the successors, administrators, heirs,
legal representatives and assigns of the Grantee and the successors and assigns
of the Company.

 

14.
Notices. Any notice to the Company provided for herein shall be in
writing to the attention of the Secretary of the Company at Symmetry Medical
Inc., 220 W. Market Street, Warsaw, Indiana 46580, and any notice to the
Grantee shall be addressed to the Grantee at his address currently on file with
the Company. Except as otherwise provided herein, any written notice shall be
deemed to be duly given if and when hand delivered, or five business days after
having been mailed by United States registered or certified mail, return
receipt requested, postage prepaid, or three business days after having been
sent by a nationally recognized overnight courier service, addressed as
aforesaid. Any party may change the address to which notices are to be given
hereunder by written notice to the other party as herein specified, except that
notices of changes of address shall be effective only upon receipt.

 

15.
Governing Law. The laws of the State of New York, without giving effect
to the principles of conflict of laws thereof, shall govern the interpretation,
performance and enforcement of this Agreement.

 

IN
WITNESS WHEREOF, the undersigned have executed this Agreement as of the date
first set forth above.

 

 

	
   

  	
  SYMMETRY
  MEDICAL INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
  ACKNOWLEDGED
  AND AGREED:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (Signature of Grantee)

  	
   

  
				

 

 EXHIBIT “A”

FORM OF ASSIGNMENT SEPARATE FROM CERTIFICATE

 

FOR VALUE RECEIVED,                     
hereby sells, assigns and transfers unto                     ,
             shares
of the Common Stock, par value $0.001 per share, of Symmetry Medical Inc., a
Delaware corporation (the “Company”) standing in its name on the books
of said Company represented by Certificate Number             ,
and does hereby irrevocably constitute and appoint                     
as attorney to transfer the said stock on the books of the Company with full
power of substitution in the premises.

 

	
  Date:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Holder

  

 

3

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