Document:

exv10w4

 

Exhibit 10.4

PANERA BREAD COMPANY

2005 LONG-TERM INCENTIVE PROGRAM

[FORM OF]

RESTRICTED STOCK AGREEMENT

(Granted under 2006 Stock Incentive Plan)

     AGREEMENT (the “Agreement”) made
as of the <<Date>> (the “Grant Date”), between Panera Bread Company
(the “Company”), a Delaware corporation having a principal place of business in Richmond Heights,
Missouri, and <<First_Name>>
<<Last_Name>>(the “Participant”).

     WHEREAS, pursuant to the 2005 Long-Term Incentive Program (the “LTIP”), the Company desires to
grant to the Participant shares of its Class A Common Stock, $.0001 par value per share (“Common
Stock”), subject to certain restrictions set forth in this Agreement, under and for the purposes
set forth in the Company’s 2006 Stock Incentive Plan (the “Plan”) and the LTIP; and

     WHEREAS, the Company and the Participant understand and agree that any terms used and not
defined herein have the same meanings as in the Plan or the LTIP, as applicable.

     NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other
good and valuable consideration, the parties hereto agree as follows:

     1. GRANT OF RESTRICTED SHARES; LEGEND.

     The Company hereby
grants to the Participant an aggregate of <<Proposed_Grant>>shares of Common Stock, subject
to adjustment, as provided in Section 4 hereof (the “Restricted Shares”), and on the terms and
conditions and subject to all the limitations set forth herein; provided, however, that the
Restricted Shares are nontransferable and may not be sold, assigned, pledged or otherwise
encumbered or disposed of by the Participant, and are subject to a risk of forfeiture to the
Company, during the Restricted Periods commencing on the date of this Agreement and ending on the
dates set forth in Section 2 hereof. Prior to the time shares become transferable and
nonforfeitable (“Vested”), the certificate evidencing such Restricted Shares, or if issued in
electronic form or book-entry credit, such electronic form or credit, shall bear a legend
indicating their nontransferability and forfeitability, and shall be held by the Company, together
with a stock power endorsed in blank by the Participant.

     2. RESTRICTED PERIODS AND VESTING.

     Subject to the terms and conditions set forth in this Agreement, the Plan and the LTIP, the
Restricted Shares granted hereby shall become Vested, rounded to the nearest whole share, as
follows:

	 	 	 
	On the second anniversary of
the date of this Agreement

	 	25% of the Restricted Shares

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	On the third anniversary of the
date of this Agreement

	 	an additional 25% of the Restricted Shares
	 
	 	 
	On the fourth anniversary of
the date of this Agreement

	 	an additional 25% of the Restricted Shares
	 
	 	 
	On the fifth anniversary of the
date of this Agreement

	 	an additional 25% of the Restricted Shares

     If the Participant ceases to be an employee of the Company or of an affiliate of the Company
(for any reason other than the death or Disability of the Participant), any Restricted Shares which
are not Vested on the date of the Participant’s termination of employment shall be forfeited to the
Company.

     In the event the Participant’s employment is terminated by the Company or an affiliate of the
Company for Cause, the Company shall be entitled, to the extent permitted by law, to recover from
the Participant any and all Restricted Shares which previously became Vested.

     In the event of the death or Disability of the Participant while an employee of the Company or
an affiliate of the Company, a pro rata portion of any additional Restricted Shares as would have
become Vested had the Participant not died or sustained a Disability prior to the end of the
vesting accrual period which next ends following the date of death or Disability shall become
Vested, rounded to the nearest whole share. The proration shall be based upon the number of days
during the vesting accrual period prior to the date of death or Disability. Any remaining
Restricted Shares which have not become Vested on the date of the Participant’s death or Disability
shall be forfeited to the Company.

     As soon as practicable following the date that any Restricted Shares become Vested under this
Section 2, the Company shall deliver to the Participant or, in the event of the Participant’s
death, the Participant’s Designated Beneficiary a certificate for such shares and the related stock
power held by the Company pursuant to Section 1 hereof, or release the restrictions placed on the
shares, if issued in electronic form or book-entry credit.

     3. DIVIDEND AND VOTING RIGHTS.

     During the Restricted Periods, the Participant shall have the right to receive all dividends
and distributions paid with respect to the Restricted Shares granted hereby, whether or not Vested,
and the right to vote such shares.

     4. CAPITAL CHANGES, CHANGE IN CONTROL AND OTHER ADJUSTMENTS.

     The Plan and the LTIP contain provisions covering the discretion of the committee of the board
of directors and/or plan administrator to which certain responsibilities have been delegated with
regard to the treatment of Restricted Stock, as defined in such Plan and LTIP (which includes the
Restricted Shares), in certain transactions affecting the Common Stock and Change

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in Control (as defined in the LTIP). Provisions in the Plan and the LTIP for adjustment with
respect to Restricted Stock and the related provisions apply to the Restricted Shares and are
incorporated in this Agreement by reference.

     5. TAXES.

     The Participant acknowledges that upon the date any Restricted Shares granted hereby become
Vested (or, in the event that the Participant makes an election under Section 83(b) of the Internal
Revenue Code of 1986, as amended, upon the date of this Agreement with respect to all Restricted
Shares) the Participant will be deemed to have taxable income measured by the then Fair Market
Value of such shares. The Participant acknowledges that any income or other taxes due from him or
her with respect to such shares shall be the Participant’s responsibility.

     The Participant agrees that the Company may withhold from the Participant’s remuneration, if
any, the minimum statutory amount of federal, state and local withholding taxes attributable to
such amount that is considered compensation includable in such person’s gross income. At the
Company’s discretion, the amount required to be withheld may be withheld in cash from such
remuneration, or in kind from the Restricted Shares and other Restricted Stock otherwise granted to
the Participant. The Participant further agrees that, if the Company does not withhold an amount
from the Participant’s remuneration sufficient to satisfy the Company’s income tax withholding
obligation, the Participant will reimburse the Company on demand, in cash, for the amount
under-withheld.

     6. NO OBLIGATION TO MAINTAIN RELATIONSHIP; ACKNOWLEDGMENT.

     The Company is not by this Agreement, the LTIP or the Plan granting the Participant any right
to continued employment or any other relationship with the Company. The Company expressly reserves
the right at any time to dismiss or otherwise terminate its relationship with the Participant free
from any liability or claim under this Agreement, the LTIP or the Plan.

     7. NOTICES.

     Any notices required or permitted by the terms of this Agreement or the Plan shall be given by
recognized courier service, facsimile, registered or certified mail, return receipt requested,
addressed as follows:

     If to the Company:

Panera Bread Company

6710 Clayton Road

Richmond Heights, MO 63117

ATTN: Director, Compensation & Benefits

Facsimile: (314) 633-7220

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If to the Participant:

	 	 	 	 	 
	 

	 	 

	 	 
	 

	 	 

	 	 
	 

	 	 	 	 

or to such other address or addresses of which notice in the same manner has previously been given.
Any such notice shall be deemed to have been given upon the earlier of receipt, one business day
following delivery to a recognized courier service or three business days following mailing by
registered or certified mail.

     8. GOVERNING LAW.

     This Agreement shall be governed by and interpreted in accordance with the laws of the State
of Delaware, excluding choice-of-law principles of the law of such state that would require the
application of the laws of a jurisdiction other than such state.

     9. BENEFIT OF AGREEMENT.

     Subject to the provisions of the Plan, the LTIP and the other provisions hereof, this
Agreement shall be for the benefit of and shall be binding upon the heirs, executors,
administrators, successors and assigns of the parties hereto.

     10. ENTIRE AGREEMENT.

     This Agreement, and the grant made hereby, is subject to the terms and conditions of each of
the Plan and LTIP which are incorporated herein by reference. This Agreement, together with the
Plan and the LTIP, embodies the entire agreement and understanding between the parties hereto with
respect to the subject matter hereof and supersedes all prior oral or written agreements and
understandings relating to the subject matter hereof. No statement, representation, warranty,
covenant or agreement not expressly set forth in this Agreement shall affect or be used to
interpret, change or restrict, the express terms and provisions of this Agreement, provided,
however, in any event, this Agreement shall be subject to and governed by the Plan and the LTIP.

     11. MODIFICATIONS AND AMENDMENTS.

     The terms and provisions of this Agreement may be modified or amended as provided in the Plan
or the LTIP.

     12. WAIVERS AND CONSENTS.

     Except as provided in the Plan, the terms and provisions of this Agreement may be waived, or
consent for the departure therefrom granted, only by written document executed by the party
entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to
be or shall constitute a waiver or consent with respect to any other terms or provisions of this
Agreement, whether or not similar. Each such waiver or consent shall be effective only in

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the specific instance and for the purpose for which it was given, and shall not constitute a
continuing waiver or consent.

13. ACKNOWLEDGMENTS

     By executing this Agreement, the Participant acknowledges (a) he or she has been provided
access to a copy of the Plan and the LTIP, and that all decisions, determinations and
interpretations of the Committee in respect of the Plan, the LTIP and this Agreement shall be final
and conclusive, and (b) his or her obligations under the Confidentiality and Proprietary
Information and Non-Competition Agreement with Panera, LLC. and any other confidentiality and
non-competition agreement with Panera, LLC or the Company.

[Signature Page Follows]

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     IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly
authorized officer, and the Participant has hereunto set his or her hand, all as of the day and
year first above written.

	 	 	 	 	 
	 	 	PANERA BREAD COMPANY
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	 	 	 
	 

	 	Title:	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 	 	 
	 	 	«First_Name» «Last_Name»

6<PAGE>
                                                                    EXHIBIT 10.2

                               LUMINEX CORPORATION
                      NON-QUALIFIED STOCK OPTION AGREEMENT

         THIS NON-QUALIFIED STOCK OPTION AGREEMENT (this "Agreement") is made
and entered into as of this _____ day of _______________, 200__ (the "Grant
Date"), by and between Luminex Corporation, a Delaware corporation (together
with its Subsidiaries and Affiliates where applicable, the "Company"), and the
person whose name is set forth on the attached Optionee Grant Detail Statement
(the "Optionee"). Capitalized terms not otherwise defined herein shall have the
meaning ascribed to such terms in the Luminex Corporation 2006 Equity Incentive
Plan (the "Plan").

         WHEREAS, the Company has adopted the Plan, which permits the issuance
of stock options for the purchase of shares of the common stock, par value
$0.001 per share, of Luminex Corporation (the "Shares"); and

         WHEREAS, the Company desires to afford the Optionee an opportunity to
purchase Shares as hereinafter provided in accordance with the provisions of the
Plan;

         NOW, THEREFORE, in consideration of the mutual covenants hereinafter
set forth and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto, intending to
be legally bound hereby, agree as follows:

         1. Grant of Option.

            (a) The Company grants as of the date of this Agreement the right
and option (the "Option") to purchase any or all of the __________ Shares (the
"Option Stock") set forth on the attached Optionee Grant Detail Statement, at an
exercise price also set forth on the Optionee Grant Detail Statement, on the
terms and conditions set forth in this Agreement and subject to all provisions
of the Plan. The Optionee, holder or beneficiary of the Option shall not have
any of the rights of a shareholder with respect to the Option Stock until such
person has become a holder of such Shares by the due exercise of the Option and
payment of the Option Payment (as defined in Section 3 below) in accordance with
this Agreement.

            (b) The Option shall be a non-qualified stock option. In order to
provide the Company with the opportunity to claim the benefit of any income tax
deduction which may be available to it upon the exercise of the Option, and in
order to comply with all applicable federal or state tax laws or regulations,
the Company may take such action as it deems appropriate to insure that, if
necessary, all applicable federal, state or other taxes are withheld or
collected from the Optionee.

         2. Exercise of Option. Except as otherwise provided herein, your Option
shall become vested and exercisable in accordance with the Optionee Grant Detail
Statement attached hereto if and only if you have been continuously employed by
the Company or any of its Subsidiaries from the date of this Agreement through
and including the date of exercise. Notwithstanding the above, each outstanding
Option shall vest and become exercisable in full upon the event of Optionee's
death or Disability.

<PAGE>

         3. Manner of Exercise. The Option may be exercised in whole or in part
at any time within the period permitted hereunder for the exercise of the
Option, with respect to whole Shares only, by serving written notice of intent
to exercise the Option delivered to the Company at its principal office (or to
the Company's designated agent), stating the number of Shares to be purchased,
the person or persons in whose name the Shares are to be registered and each
such person's address and social security number. Such notice shall not be
effective unless accompanied by payment in full of the Option Price for the
number of Shares with respect to which the Option is then being exercised (the
"Option Payment") and cash equal to the required withholding taxes as set forth
by Internal Revenue Service and applicable State tax guidelines for the
employer's minimum statutory withholding. The Option Payment shall be made in
cash or cash equivalents or in whole Shares that have been held by the Optionee
for at least six (6) months prior to the date of exercise valued at the Shares'
Fair Market Value on the date of exercise (or next succeeding trading date if
the date of exercise is not a trading date) or the actual sales price of such
Shares, together with any applicable withholding taxes, or by a combination of
such cash (or cash equivalents) and Shares. The Optionee shall not be entitled
to tender Shares pursuant to successive, substantially simultaneous exercises of
the Option or any other stock option of the Company. Subject to applicable
securities laws, the Optionee may also exercise the Option by delivering a
notice of exercise of the Option and by simultaneously selling the Shares of
Option Stock thereby acquired pursuant to a brokerage or similar agreement
approved in advance by proper officers of the Company, using the proceeds of
such sale as payment of the Option Payment, together with any applicable
withholding taxes.

         4. Termination of Option. The Option will expire ten (10) years from
the date of grant of the Option (the "Term") with respect to any then
unexercised portion thereof, unless terminated earlier as set forth below:

            (a) Termination by Death. If the Optionee's employment by the
Company terminates by reason of death, or if the Optionee dies within three (3)
months after termination of such employment for any reason other than Cause,
this Option may thereafter be exercised by the legal representative of the
estate or by the legatee of the Optionee under the will of the Optionee, until
the expiration of the Term of the Option.

            (b) Termination by Reason of Disability. If the Optionee's
employment by the Company terminates by reason of Disability, this Option may
thereafter be exercised by the Optionee or personal representative or guardian
of the Optionee, as applicable, until the expiration of the Term of the Option.

            (c) Termination by Normal Retirement or Early Retirement. If
Optionee's employment by the Company terminates by reason of Normal Retirement
or Early Retirement, this Option may thereafter be exercised by the Optionee,
until the expiration of the Term of the Option. "Early Retirement" means
retirement with the express consent of the Company at or before the time of such
retirement, from active employment with the Company prior to age sixty-five
(65), in accordance with any applicable early retirement policy of the Company
then in effect. "Normal Retirement" means retirement from active employment with
the Company on or after age sixty-five (65).

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<PAGE>

            (d) Termination for Cause. If the Optionee's employment by the
Company is terminated for Cause, this Option shall terminate immediately and
become void and of no effect.

            (e) Other Termination. If the Optionee's employment by the Company
is terminated for any reason other than for Cause, death, Disability or Normal
Retirement or Early Retirement, this Option may be exercised, to the extent the
Option was exercisable at the time of such termination, by the Optionee for a
period of ninety (90) days from the date of such termination of employment or
the expiration of the Term of the Option, whichever period is the shorter.

         5. No Right to Continued Employment. The grant of the Option shall not
be construed as giving Optionee the right to be retained in the employ of the
Company or its Subsidiaries, and the Company or its Subsidiaries may at any time
dismiss Optionee from employment, free from any liability or any claim under the
Plan.

         6. Adjustment to Option Stock. The Committee shall make adjustments in
the terms and conditions of, and the criteria included in, this Option in
recognition of unusual or nonrecurring events (including, without limitation,
the events described in Section 4.2 of the Plan) affecting the Company or the
financial statements of the Company or of changes in applicable laws,
regulations or accounting principles, whenever the Committee determines that
such adjustments are appropriate in order to prevent dilution or enlargement of
the benefits or potential benefits intended to be made available under the Plan.

         7. Amendments to Option. Subject to the restrictions contained in the
Plan, the Committee may waive any conditions or rights under, amend any terms
of, or alter, suspend, discontinue, cancel or terminate, the Option,
prospectively or retroactively; provided that any such waiver, amendment,
alteration, suspension, discontinuance, cancellation or termination that would
adversely affect the rights of the Optionee or any holder or beneficiary of the
Option shall not to that extent be effective without the consent of the
Optionee, holder or beneficiary affected.

         8. Limited Transferability. During the Optionee's lifetime this Option
can be exercised only by the Optionee, except as otherwise provided in Section
4(a) above or in this Section 8. This Option may not be assigned, alienated,
pledged, attached, sold or otherwise transferred or encumbered by Optionee other
than (i) to a Permitted Transferee or (ii) by will or the laws of descent and
distribution. Any attempt to otherwise transfer this Option shall be void. No
transfer of this Option by the Optionee by will or by laws of descent and
distribution shall be effective to bind the Company unless the Company shall
have been furnished with written notice thereof and an authenticated copy of the
will and/or such other evidence as the Committee may deem necessary or
appropriate to establish the validity of the transfer. Any transfer of this
Option by the Optionee to a Permitted Transferee must be for no consideration
and, after the transfer, the Permitted Transferee shall have the sole
responsibility for determining whether and when to exercise the Option. A
Permitted Transferee may not transfer any such Option other than by will or the
laws of descent and distribution. For purpose of this Agreement, "Permitted
Transferee" means the Optionee's Immediate Family, a Permitted Trust or a
partnership of which the only partners are members of the Optionee's Immediate
Family. For purpose of this Agreement, "Immediate Family" means the Optionee's
children and grandchildren, including adopted children and grandchildren,
stepchildren, parents, stepparents, grandparents, spouse,

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<PAGE>

former spouse (but in such case only at the direction of a court order),
siblings (including half brothers and sisters), father-in-law, mother-in-law,
daughters-in-law and sons-in-law. For purposes of this Agreement, a "Permitted
Trust" means a trust solely for the benefit of the Optionee or Optionee's
Immediate Family.

         9. Reservation of Shares. At all times during the term of this Option,
the Company shall use its best efforts to reserve and keep available such number
of Shares as shall be sufficient to satisfy the requirements of this Agreement.

         10. Plan Governs. The Optionee hereby acknowledges receipt of a copy of
the Plan and agrees to be bound by all the terms and provisions thereof. The
terms of this Agreement are governed by the terms of the Plan, and in the case
of any inconsistency between the terms of this Agreement and the terms of the
Plan, the terms of the Plan shall govern. Capitalized terms not otherwise
defined herein shall have the meanings ascribed to in the Plan.

         11. Severability. If any provision of this Agreement is, or becomes, or
is deemed to be invalid, illegal, or unenforceable in any jurisdiction or as to
any Person or the Award, or would disqualify the Plan or Award under any laws
deemed applicable by the Committee, such provision shall be construed or deemed
amended to conform to the applicable laws, or if it cannot be construed or
deemed amended without, in the determination of the Committee, materially
altering the intent of the Plan or the Award, such provision shall be stricken
as to such jurisdiction, Person or Award, and the remainder of the Plan and
Award shall remain in full force and effect.

         12. Notices. All notices required to be given under this Option shall
be deemed to be received if delivered or mailed as provided for herein to the
parties at the following addresses, or to such other address as either party may
provide in writing from time to time.

         To the Company:   Luminex Corporation
                           12212 Technology Blvd.
                           Austin, TX  78727
                           Attn: Corporate Secretary

         To the Optionee:  The address then maintained with respect to the
                           Optionee in the Company's records.

         13. Governing Law. The validity, construction and effect of this
Agreement shall be determined in accordance with the laws of the State of
Delaware without giving effect to conflicts of laws principles.

         14. Resolution of Disputes. Any dispute or disagreement which may arise
under, or as a result of, or in any way related to, the interpretation,
construction or application of this Agreement shall be determined by the
Committee. Any determination made hereunder shall be final, binding and
conclusive on the Optionee and the Company for all purposes.

         15. Successors in Interest. This Agreement shall inure to the benefit
of and be binding upon any successor to the Company. This Agreement shall inure
to the benefit of the Optionee's legal representative and assignees. All
obligations imposed upon the Optionee and

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<PAGE>

all rights granted to the Company under this Agreement shall be binding upon the
Optionee's heirs, executors, administrators, successors and assignees.

         IN WITNESS WHEREOF, the parties have caused this Non-Qualified Stock
Option Agreement to be duly executed effective as of the day and year first
above written.

                                     LUMINEX CORPORATION

                                     By:
                                         -----------------------------------

                                     Optionee:

                                     ---------------------------------------
                                     Please Print

                                     Optionee:

                                     ---------------------------------------
                                     Signature

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