Document:

Exhibit 10.1

 Exhibit 10.1 
 AWARD AGREEMENT FOR RESTRICTED SHARES 
 UNDER THE 
 FIVE
BELOW, INC. AMENDED AND RESTATED 

EQUITY INCENTIVE PLAN 

THIS AWARD AGREEMENT FOR RESTRICTED SHARES (this “Agreement”) is made between Five Below, Inc. (the
“Company”) and             (the “Grantee”), dated             , 201    
(the “Effective Date”). 
 WHEREAS, the Company desires to award
[            ] Restricted Shares to the Grantee under the Five Below, Inc. Amended and Restated Equity Incentive Plan, as amended (the “Plan”), pursuant to the terms of
this Agreement. 
 NOW, THEREFORE, in consideration of these premises and the agreements set forth herein, the parties,
intending to be legally bound hereby, agree as follows: 
 1. Award of Restricted Stock. As of the Effective Date,
pursuant to the Plan, the Company hereby awards to the Grantee [            ] Restricted Shares (the “Award”), subject to the restrictions and on the terms and conditions
set forth in this Agreement and the Plan. The terms of the Plan are hereby incorporated into this Agreement by this reference, as though fully set forth herein. Capitalized terms used but not defined herein will have the same meaning as defined in
the Plan. 
 2. Vesting of Restricted Shares. 
 (a) Vesting Schedule. Subject to Grantee’s continued service with the Company as of such date, 100% of the Restricted Shares underlying the Award will vest and become free from forfeiture
restrictions on the earlier of: (i) the one-year anniversary of the Effective Date or (ii) the date of the Company’s next annual stockholder meeting following the Effective Date. 

(b) Vesting Upon Certain Events. Notwithstanding the foregoing, upon (i) a Change in Control or (ii) the Grantee’s
separation of service with the Company and its Affiliates due to death or Disability, all of the Restricted Shares underlying the Award will immediately and fully vest and become free from any forfeiture restrictions. If the Grantee’s service
with the Company and its Affiliates ceases for any other reason, any Restricted Shares that are then still subject to forfeiture restrictions as of such date shall be immediately forfeited with no other compensation due to the Grantee. 

3. Issuance of Shares. 
 (a) The Company will cause the Restricted Shares to be issued in the Grantee’s name either by book-entry registration or issuance of a stock certificate or certificates. Any shares issued to the
Grantee hereunder shall be fully paid and non-assessable. 
 (b) While the Restricted Shares remain subject to forfeiture to the
Company pursuant to Section 2 above, the Company will cause an appropriate stop-transfer order to be issued and to remain in effect with respect to the Restricted Shares. As soon as practicable following the time that any Restricted
Share becomes vested, the Company will cause that stop-transfer order to be removed. The Company may also condition delivery of certificates for Restricted Shares upon receipt from the Grantee of any undertakings that it may determine are
appropriate to facilitate compliance with federal and state securities laws. 
 (c) If any certificate is issued in respect of
Restricted Shares, that certificate will be legended as described herein and held in escrow by the Company’s secretary or his or her designee. In 

 
addition, the Grantee may be required to execute and deliver to the Company a stock power with respect to those Restricted Shares. At such time as those Restricted Shares become vested, the
Company will cause a new certificate to be issued without that portion of the legend referencing the previously applicable vesting conditions and will cause that new certificate to be delivered to the Grantee. 

4. Tax Consequences. The Grantee acknowledges that the Company has not advised the Grantee regarding the Grantee’s income tax
liability in connection with the vesting of the Restricted Shares or an election filed under Section 83(b) of the Code. The Grantee has reviewed with the Grantee’s own tax advisors the federal, state, local and foreign tax consequences of
the transactions contemplated by this Agreement. The Grantee is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. The Grantee understands that the Grantee (and not the Company) shall be
responsible for the Grantee’s own tax liability that may arise as a result of the transactions contemplated by this Agreement. A form of Section 83(b) election together with an explanation of the rules governing such an election is
attached hereto as Exhibit A. 
 5. Restriction on Transfer of Restricted Shares. None of the Restricted Shares or
any beneficial interest therein shall be transferred, encumbered, pledged or otherwise alienated or disposed of in any way until they have become vested in accordance with Section 2 of this Agreement. 

6. Share Legends. All stock certificates representing the Restricted Shares underlying the Award may have affixed thereto legends
required by applicable state law or as the Company deems appropriate. 
 7. Withholding. The Company reserves the right
to withhold, in accordance with any applicable laws, from any consideration payable or property transferable to Grantee any taxes, if any, required to be withheld by federal, state or local law as a result of the grant of this Award or other
disposition of the Shares. 
 8. The Plan. The Grantee has received a copy of the Plan, has read the Plan and is familiar
with its terms, and hereby accepts the Restricted Shares subject to all of the terms and provisions of the Plan, as amended from time to time. Pursuant to the Plan, the Board or its Committee is authorized to interpret the Plan and to adopt rules
and regulations not inconsistent with the Plan as it deems appropriate. The Grantee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Board or its Committee upon any questions arising under the Plan.

 9. Representations and Warranties. By executing this Agreement, the Grantee hereby represents, warrants, covenants,
acknowledges and/or agrees that: 
 (a) The Restricted Shares are being acquired for the Grantee’s own account, for
investment purposes only, and not for the account of any other person, and not with a view to the distribution thereof within the meaning of the Securities Act of 1933, as amended (the “Securities Act”); 

(b) No other person (other than the Grantee and the Company) has or will have a direct or indirect beneficial interest in the Restricted
Shares; and 
 (c) In addition to complying with other similar restrictions contained herein, the Grantee will not sell,
transfer, pledge, hypothecate or otherwise dispose of any interest in the Restricted Shares unless such interest is registered in accordance with the Securities Act and applicable state securities laws or an exemption from such registration is
available and, if required by the Company, an opinion of counsel is delivered to the Company, in a form satisfactory to the Company, that such registration is unnecessary. 

  
 -2-

 10. General Provisions: 

(a) This Agreement, together with the Plan, represent the entire agreement between the parties with respect to the award of the Restricted
Shares that are subject to this Agreement and may only be modified or amended in a writing signed by both parties. 
 (b)
Neither this Agreement nor any rights or interest hereunder shall be assignable by the Grantee, his beneficiaries or legal representatives, and any purported assignment in violation hereof shall be null and void. 

(c) Either party’s failure to enforce any provision or provisions of this Agreement shall not in any way be construed as a waiver of
any such provision or provisions, nor prevent that party thereafter from enforcing each and every other provision of this 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. 
 (d) The grant of Restricted Shares hereunder will
not confer upon the Grantee any right to continue in service with the Company or any of its subsidiaries or affiliates. 
 (e)
This Agreement and all claims or causes of action (whether in contract or tort) that may be based upon, arise out of or relate to this Agreement or the negotiation, execution or performance of this Agreement (including any claim or cause of action
based upon, arising out of or related to any representation or warranty made in or in connection with this Agreement or as an inducement to enter this Agreement) shall be governed by, and enforced in accordance with, the laws of the Commonwealth of
Pennsylvania, without regard to the application of the principles of conflicts of laws. 
 (f) This Agreement may be executed,
including execution by facsimile signature, in one or more counterparts, each of which shall be deemed an original, and all of which together shall be deemed to be one and the same instrument. 

[signature page follows] 

  
 -3-

 IN WITNESS WHEREOF, the parties have duly executed this Award Agreement for Restricted
Shares on the         day of             , 201    . 

 

			
	FIVE BELOW, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	  

	GRANTEE	 	

  
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 EXHIBIT A 
 Guidelines for 83(b) Election 
  

	 	1.	The making of an 83(b) election has serious tax consequences; you are strongly urged to consult a tax professional with regard to this election. An 83(b) election is
not required under the Internal Revenue Code of 1986, nor is it required as a condition of this grant. 

  

	 	2.	Under an 83(b) election, taxable compensation, if any, is based on value of the stock on the date of grant. Accordingly, you will realize compensation income in this
amount as a result of this grant if you make this 83(b) election. 

  

	 	3.	Filing should be made by certified mail, return receipt requested to the Internal Revenue Service Center at which your federal income tax return is filed.

  

	 	4.	If you intend to make this election, the 83(b) election must be filed with the IRS within 30 days after the stock is transferred to you. 

 

	 	5.	It is recommended that three of the 83(b) election forms be stamped by the IRS as proof of filing. Accordingly, please send a self-addressed stamped envelope and four
copies of the 83(b) election form and the enclosed cover letter to the IRS, requesting that three copies of each document be returned. Of these three documents: 

 

	 	a.	1 set of copies is given to Five Below, Inc. (the “Company”) 

  

	 	b.	1 set of copies is filed with your Federal Income Tax Return 

  

	 	c.	1 set of copies may be required to be filed with your State Income Tax Return. 

 Requirements under state or local income tax laws vary. For example, in some states the filing of an 83(b) election with the Internal Revenue Service constitutes the making of the election under
comparable state provisions, while in other states a separate state election is required. You are also urged to consult a tax professional regarding state or local tax implications. 

 

	 	6.	An 83(b) election may not be revoked without consent of the IRS. 

  

	 	7.	Before you submit your 83(b) election to the IRS, please deliver an executed copy of the election to the Company and keep a copy of the election form, the cover letter
and the registered mail receipt with your permanent records. 

 YOU ARE SOLELY RESPONSIBLE FOR TIMELY FILING YOUR SECTION
83(B) ELECTION. THE COMPANY SHALL BEAR NO RESPONSIBILITY OR LIABILITY FOR ANY ADVERSE TAX CONSEQUENCES DUE TO YOUR FAILURE TO MAKE SUCH ELECTION OR YOUR MAKING SUCH ELECTION. PLEASE NOTE THAT BECAUSE THE PURCHASE PRICE FOR THE STOCK WAS $0.00,
YOU WILL NOT BE ENTITLED TO RECOGNIZE A TAXABLE LOSS OR ANY OTHER INCOME TAX DEDUCTION IF THE STOCK IS FORFEITED DUE TO YOUR FAILURE TO SATISFY THE VESTING CONDITIONS. 

  
 A-1

 Five Below, Inc. Common Shares 

Election to Include Value of Restricted Property in Gross Income 
 in Year of Transfer Under Code §83(b) 
 I hereby elect under section 83(b) of
the Internal Revenue Code of 1986, as amended (the “Code”) to include in gross income the excess (if any) of the fair market value of the property described below at the time of transfer (determined without regard to any lapse of
restriction) over the amount paid for such property, as compensation for services, and supply the following information in accordance with Treasury regulation section 1.83-2(e): 

1. My name and address are: 
 [Director Name] 
 [Director Address] 

2. My Social Security Number is: [Director SSN]. 
 3. The property with respect to which the election is being made is [        ] Common Shares (each a “Share”) of Five Below, Inc. (the
“Company”). 
 4. The date on which the property was transferred is June [    ], 2012 (the
“Transfer Date”), and the taxable year for which this election is made is calendar year 2012. 
 5. The nature of the
restrictions to which this property is subject are: The Shares are subject to forfeiture to the Company if I cease to provide service to the Company for any reason, provided that upon a change in control or if my service with the Company terminates
due to disability or death, the Shares will become fully vested and no longer subject to forfeiture restrictions. Otherwise, subject to my continued service to the Company, the forfeiture restriction will lapse on the earlier to occur of: the first
anniversary of the Transfer Date or the date of the annual meeting of the Company’s stockholders which follows the Transfer Date. 
 5. The fair market value at time of transfer (determined without regard to any restrictions other than restrictions which by their terms will never lapse) of the property with respect to which this
election is being made is $[    .    ] per Share. 
 6. The amount paid for the
property is $0.00 per Share. 
 7. A copy of this statement was furnished to Five Below, Inc. for whom taxpayer rendered the
services underlying the transfer of property. 

  
 A-2

 8. A copy of this statement must be submitted with my income tax return for the taxable year
in which the property was acquired. 
 Dated:             , 2012 

 

	
	  
 [Director
Name]

  
 A-3

             , 2012 

VIA CERTIFIED MAIL 
 Internal Revenue
Service Center 
 [Address IRS Service Center where you file federal income tax return] 

 

	Re:	Filing of 83(b) Election 

 Enclosed for filing as of             , 2012 (the postmark of this package) is an 83(b) election for taxpayer [Director Name]; social security
number [Director SSN]. 
 Kindly (i) accept the 83(b) election for filing effective as of the postmark date, (ii) date
stamp the enclosed copies of this letter and of the 83(b) election as evidence of such filing and (iii) return the dated stamped copies of the letter and of the 83(b) election to me in the enclosed self-addressed stamped envelope. Thank you.

  

	
	Sincerely,
	
	  

	[Director Name]
	[Director Address]

 Enclosures 

  
 A-4Exhibit 10.2

 Exhibit 10.2 
 FIVE BELOW, INC. 
 COMPENSATION POLICY FOR NON-EMPLOYEE DIRECTORS

 (Effective February 3, 2013) 
 1. ANNUAL CASH AND STOCK COMPENSATION 
  

	 	•	 	 Eligible Directors: Each member of the Company’s Board of Directors (the “Board”) who is not an employee of the Company (a
“Non-Employee Director”) and who is not affiliated with Advent International Corporation. 

  

	 	•	 	 Annual Cash Retainer. Each eligible director shall receive $50,000 annually paid in arrears for each fiscal quarter.

  

	 	•	 	 Additional Annual Retainers for Chairs of Committees who are Eligible Directors: $25,000 annually for the Audit Committee and the Compensation
Committee and $15,000 annually for the Nominating and Corporate Governance Committee, in each case paid quarterly in arrears together with the annual retainer for all eligible directors. 

 

	 	•	 	 Stock in lieu of Retainers: Prior to the end of the fiscal quarter with respect to which such cash retainer relates, an eligible director may
elect, in lieu of the cash retainer, to receive fully vested shares of the Company’s common stock (“Shares”) having a Fair Market Value (as such term is defined under the Five Below, Inc. Amended and Restated Equity Incentive
Plan (the “Plan”)) equal to the amount of the foregone retainer for such period. Any such elected Shares will be delivered on or about the last day of the fiscal quarter with respect to which the foregone cash retainer relates. Any
fractional Shares will be paid in cash. 

  

	 	•	 	 Annual Equity Award. At each annual meeting of shareholders, each eligible director will receive a restricted stock award for Shares having a
Fair Market Value equal to $75,000 issued under the Plan and subject to an award agreement (an “Award Agreement”). Subject to such director’s continued service with the Company, each award shall vest in full at the next annual
meeting of shareholders. Such vesting may be accelerated upon certain events as provided in an Award Agreement. 

 2.
EXPENSE REIMBURSEMENT - Each Non-Employee Director will be reimbursed for reasonable out-of-pocket travel expenses incurred in connection with attendance at Board and committee meetings and other Board related activities in accordance with the
Company’s plans or policies as in effect from time to time1. 
 3. AMENDMENT AND TERMINATION - This Policy may be amended or terminated by the Board at
any time. 
  

	1 	To the extent that any such reimbursements constitute compensation, (i) such amount shall be reimbursed no later than December 31 of the year following the
year in which the expense was incurred, (ii) such amount shall not affect the amount of compensatory expense reimbursements in any subsequent year, and (iii) the right to such reimbursement shall not be subject to liquidation or exchange
for any other benefit.

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