Document:

Sample Performance Share Award Agreement

 Exhibit 10(s) 
  
 PERFORMANCE SHARE AWARD AGREEMENT 
 (settled in Restricted Stock) 
  
 Wendy’s International, Inc. 
  
             , 20     
  
 THIS AGREEMENT, made as of             , 20    , between
Wendy’s International, Inc., an Ohio corporation (the “Company”), and                      (the
“Grantee”). 
  
 WHEREAS, the Company has adopted
the Wendy’s International, Inc. 2003 Stock Incentive Plan (the “Plan”) in order to provide additional incentive to certain employees and directors of the Company and its Subsidiaries; and 
  
 WHEREAS, the Committee has determined to grant to the Grantee an Award of
Performance Shares as provided herein to encourage the Grantee’s efforts toward the continuing success of the Company. 
  
 NOW, THEREFORE, the parties hereto agree as follows: 
  
 1. Grant of Performance Shares. 
  
 1.1 The Company hereby grants to the Grantee an award of              Performance
Shares, subject to adjustment pursuant to Sections 3 and 4 hereof (the “Award”) and the execution and return of this Agreement by the Grantee (or the Grantee’s estate, if applicable) to the Company as provided in Section 10
hereof. Subject to Section 5 hereof, payment with respect to vested Performance Shares shall be made entirely in the form of Restricted Stock in accordance with Section 4 hereof. 
  
 1.2 This Agreement shall be construed in accordance and consistent with, and subject to, the provisions of the Plan (the
provisions of which are hereby incorporated by reference) and, except as otherwise expressly set forth herein, the capitalized terms used in this Agreement shall have the same definitions as set forth in the Plan. 
  
 2. Performance Cycle. 
  
 The Performance Cycle shall be the Company’s
20     fiscal year, beginning on             , 20     and ending on
            , 20    . 
  
 3. Performance Objective and Formula. 
  
 The Performance Objective established by the Committee with respect to the Performance Shares is positive diluted earnings per Share. For this purpose,
diluted earnings per Share shall be as reported on the Company’s income statement for fiscal 20    . If the Company achieves this Performance Objective during the Performance Cycle and the Committee certifies to this
result in accordance with Section 4 hereof, the Performance Shares shall vest and, subject to Sections 4.1, 5, and 6.4 hereof, the Grantee will be entitled to receive a number of shares of Restricted Stock equal to
             multiplied by a factor determined in accordance with the matrix set forth in Appendix A attached hereto. 
  
 4. Determination of Award. 
  

4.1 Determination Notice. As soon as possible after the end of the Performance Cycle, the Committee will certify in writing whether the
Performance Objective has been met for the Performance Cycle and 

  

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determine the number of shares of Restricted Stock, if any, payable in accordance with the matrix set forth in Appendix A; provided, that, if
the Committee certifies that the Performance Objective has been met, the Committee may, in its sole discretion, reduce the number of shares of Restricted Stock payable to the Grantee with respect to the Award. The date of the Committee’s
certification pursuant to this Section 4.1 shall hereinafter be referred to as the “Certification Date”. The Company will notify the Grantee (or the executors or administrators of the Grantee’s estate, if appropriate) of the
Committee’s certification following the Certification Date (such notice, the “Determination Notice”). The Determination Notice shall specify (i) the Company’s reported diluted earnings per Share for the Performance Cycle,
(ii) the relative placement on the matrix set forth in Appendix A of the Company’s three-year average total shareholder return measured against the three-year average total shareholder return of the companies comprising the Standard &
Poor’s 500 Composite Index, and (iii) subject to Section 5 hereof, the number of shares of Restricted Stock, if any, payable in accordance with the Committee’s certification pursuant to this Section 4.1. 
  
 4.2 Issuance of Restricted Stock. The shares of Restricted Stock to be
issued pursuant to this Agreement shall be issued in the form of book entry Shares in the name of the Grantee on                      (the
“Issue Date”). 
  
 5. Forfeiture of Award
Prior to Issue Date. 
  
 5.1 Termination of
Employment. If the Grantee’s employment terminates for any reason prior to the Issue Date, the Award shall automatically terminate and the Grantee shall not be entitled to receive any Shares of Restricted Stock under Section 4 hereof or
otherwise under this Agreement. 
  
 5.2 Misconduct. If
prior to the Issue Date the Grantee has (i) used for profit or disclosed to unauthorized persons, confidential information or trade secrets of the Company or any of its Subsidiaries, (ii) breached any contract with or violated any fiduciary
obligation to the Company or any of its Subsidiaries, or (iii) engaged in unlawful trading in the securities of the Company or any of its Subsidiaries or of another company based on information gained as a result of that Grantee’s employment
with, or status as a director to, the Company or any of its Subsidiaries (each of (i), (ii) and (iii), an “Act of Misconduct”), the Award shall automatically terminate and the Grantee shall not be entitled to receive any Shares of
Restricted Stock under Section 4 hereof or otherwise under this Agreement. 
  
 6. Shares of Restricted Stock. 
  
 6.1 Restrictions on Transfer. The Shares of Restricted Stock issued under this Agreement may not be sold, transferred or otherwise disposed of and may not be pledged or otherwise hypothecated until all restrictions on such Restricted
Stock shall have lapsed in the manner provided in Section 6.2, 6.3 or 7 hereof. 
  
 6.2 Lapse of Restrictions Generally. Except as provided in Sections 6.3, 6.4 and 7 hereof, one-fourth (1/4) of the number of Shares of Restricted Stock issued hereunder (rounded down to the nearest whole Share,
if necessary) shall vest, and the restrictions with respect to such Restricted Stock shall lapse, on each of the first four (4) anniversaries of the Issue Date. 
  

6.3 Effect of Certain Terminations of Employment. If the Grantee’s employment terminates as a result of the Grantee’s death,
Retirement or becoming Disabled, or if the Grantee is terminated without Cause in connection with the disposition of one or more restaurants or other assets of the Company or its Subsidiaries or the sale or disposition of a Subsidiary, in each case
if such termination occurs on or after the Issue Date, all Shares of Restricted Stock which have not become vested in accordance with Section 6.2 or 7 hereof shall vest, and the restrictions on such Restricted Stock shall lapse, as of the date of
such termination. 
  
 6.4 Forfeiture of Restricted Stock.
Any and all Shares of Restricted Stock which have not become vested in accordance with Section 6.2, 6.3 or 7 hereof shall be forfeited and shall revert to the Company upon: 
  
 (i) the termination by the Grantee, the Company or its Subsidiaries of the Grantee’s employment for any reason other
than those set forth in Section 6.3 hereof prior to such vesting; or 
  

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 (ii) the commission by the Grantee of an Act of Misconduct prior to such vesting. 
  
 7. Effect of Change in Control. 
  
 In the event of a Change in Control at any time on or after the Issue Date
(but not before the Issue Date), all Shares of Restricted Stock which have not become vested in accordance with Section 6 hereof shall vest, and the restrictions on such Restricted Stock shall lapse, immediately. 
  
 8. Delivery of Restricted Stock. 
  
 8.1 Except as otherwise provided in Section 8.2 hereof, evidence of book
entry Shares with respect to shares of Restricted Stock in respect of which the restrictions have lapsed pursuant to Section 6.2, 6.3 or 7 hereof or, if requested by the Grantee prior to such lapse of restrictions, a stock certificate with respect
to such shares of Restricted Stock, shall be delivered to the Grantee as soon as practicable following the date on which the restrictions on such Restricted Stock have lapsed, free of all restrictions hereunder. 
  
 8.2 Evidence of book entry Shares with respect to shares of Restricted Stock
in respect of which the restrictions have lapsed upon the Grantee’s death pursuant to Section 6.3 hereof or, if requested by the executors or administrators of the Grantee’s estate upon such lapse of restrictions, a stock certificate with
respect to such shares of Restricted Stock, shall be delivered to the executors or administrators of the Grantee’s estate as soon as practicable following the Company’s receipt of notification of the Grantee’s death, free of all
restrictions hereunder. 
  
 9. Dividends and Voting Rights.

  
 Upon issuance of the Restricted Stock, the Grantee shall have
all of the rights of a stockholder with respect to such Stock, including the right to vote the Stock and to receive all dividends or other distributions paid or made with respect thereto; provided, however, that dividends or
distributions declared or paid on the Restricted Stock by the Company shall be deferred and reinvested in Shares of Restricted Stock based on the Fair Market Value of a Share on the date such dividend or distribution is paid or made (provided that
no fractional Shares will be issued), and the additional Shares of Restricted Stock thus acquired shall be subject to the same restrictions on transfer, forfeiture and vesting schedule as the Restricted Stock in respect of which such dividends or
distributions were made. 
  
 10. Execution of Award
Agreement. 
  
 The Performance Shares granted to the Grantee
pursuant to the Award shall be subject to the Grantee’s execution and return of this Agreement to the Company or its designee (including by electronic means, if so provided) no later than
            , 20     (the “Grantee Return Date”); provided that if the Grantee dies before the Grantee Return Date, this requirement shall
be deemed to be satisfied if the executor or administrator of the Grantee’s estate executes and returns this Agreement to the Company or its designee no later than ninety (90) days following the Grantee’s death (the “Executor
Return Date”). If this Agreement is not so executed and returned on or prior to the Grantee Return Date or the Executor Return Date, as applicable, the Performance Shares evidenced by this Agreement shall be forfeited, and neither the
Grantee nor the Grantee’s heirs, executors, administrators and successors shall have any rights with respect thereto. 
  
 11. No Right to Continued Employment. 
  
 Nothing in this Agreement or the Plan shall interfere with or limit in any way the right of the Company or its Subsidiaries to terminate the
Grantee’s employment, nor confer upon the Grantee any right to continuance of employment by the Company or any of its Subsidiaries or continuance of service as a Board member. 
  

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 12. Adjustments. 
  
 To the extent permitted under Section 162(m) of the Code and the regulations thereunder without adversely affecting the
treatment of the Award as Performance-Based Compensation, the Committee shall adjust the Performance Objective to reflect the impact of specified corporate transactions (such as a stock split or dividend), special charges, accounting or tax law
changes and other extraordinary or nonrecurring events. 
  
 13.
Withholding of Taxes. 
  
 Prior to the delivery to the
Grantee (or the Grantee’s estate, if applicable) of a stock certificate or evidence of book entry Shares with respect to shares of Restricted Stock in respect of which all restrictions have lapsed, the Grantee (or the Grantee’s estate)
shall pay to the Company the federal, state and local income taxes and other amounts as may be required by law to be withheld by the Company (the “Withholding Taxes”) with respect to such Restricted Stock. By executing and returning
this Agreement in the manner provided in Section 10 hereof, the Grantee (or the Grantee’s estate) shall be deemed to elect to have the Company withhold a portion of such Restricted Stock having an aggregate Fair Market Value equal to the
Withholding Taxes in satisfaction of the Withholding Taxes, such election to continue in effect until the Grantee (or the Grantee’s estate) notifies the Company before such delivery that the Grantee (or the Grantee’s estate) shall satisfy
such obligation in cash, in which event the Company shall not withhold a portion of such Restricted Stock as otherwise provided in this Section 13. 
  
 14. Grantee Bound by the Plan. 
  
 The Grantee hereby acknowledges receipt of a copy of the Plan and agrees to be bound by all the terms and provisions thereof. 
  
 15. Modification of Agreement. 
  
 This Agreement may be modified, amended, suspended or terminated, and any
terms or conditions may be waived, but only by a written instrument executed by the parties hereto. 
  
 16. Severability. 
  
 Should any provision of this Agreement be held by a court of competent jurisdiction to be unenforceable or invalid for any reason, the remaining
provisions of this Agreement shall not be affected by such holding and shall continue in full force in accordance with their terms. 
  
 17. Governing Law. 
  
 The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Ohio without giving effect to
the conflicts of laws principles thereof. 
  
 18. 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 Grantee’s legal representatives. All obligations imposed upon the Grantee and all rights granted to the Company under this Agreement shall be
binding upon the Grantee’s heirs, executors, administrators and successors. 
  

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 19. Resolution of Disputes. 
  
 Any dispute or disagreement which may arise under, or as a result of, or in any way relate 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 Grantee, the Grantee’s heirs, executors, administrators and successors, and the
Company and its Subsidiaries for all purposes. 
  
 20. Entire
Agreement. 
  
 This Agreement and the terms and conditions of
the Plan constitute the entire understanding between the Grantee and the Company and its Subsidiaries, and supersede all other agreements, whether written or oral, with respect to the Award. 
  
 21. Headings. 
  
 The headings of this Agreement are inserted for convenience only and do not
constitute a part of this Agreement. 
  
 22. Counterparts.

  
 This Agreement may be executed simultaneously in two or more
counterparts, each of which shall constitute an original, but all of which taken together shall constitute one and the same agreement. 
  
 23. Shareholder Approval. 
  
 The effectiveness of this Agreement and of the grant of the Award pursuant hereto is subject to the approval of the Plan by the stockholders of the
Company in accordance with the terms of the Plan. 
  

			
	 WENDY’S INTERNATIONAL, INC.

		
	 By:
	 	  

	
	 GRANTEE

	  

  
 APPENDIX A

  
 [Spreadsheet setting forth Grantee’s performance
objectives and calculations] 
  

 5Letter Agreement between the Company and J. Patrick Spainhour

  
 Exhibit 10.18

  
 March 16, 2005 
  
 Mr. J. Patrick Spainhour 
 114 Scarlet Drive 
 Columbus, Mississippi 39701 
  
 Dear Pat: 
  
 Reference is made to the employment agreement between you and AnnTaylor Stores Corporation (the “Company”) dated as of January 29, 2002 (the
“Employment Agreement”). 
  
 In connection with the
Company’s succession planning, you have decided to retire and resign your position as Chairman of the Board and Chief Executive Officer of the Company, effective September 30, 2005. This letter (the “Agreement”) will confirm the
agreement between you and the Company regarding your retirement from the Company: 
  
 1. You agree to retire and resign, effective as of September 30, 2005, from your positions as an officer and director of the Company, AnnTaylor, Inc., and all other direct and indirect subsidiaries of the Company.
Your date of separation from employment with the Company and its subsidiaries will be September 30, 2005 (the “Retirement Date”). 
  
 2. With the exception of the penultimate sentence of section 3(b), section 9 (as modified hereby) and sections 10 and 16 of the Employment Agreement,
which shall continue in full force and effect following the Retirement Date, the Employment Agreement shall be terminated as of the Retirement Date and, except as set forth below, no benefits shall be paid thereunder. 
  
 3. In consideration of your executing the release substantially in the form
attached hereto as Appendix A (the “Release”) on or following the Retirement Date (the “Release”), and in consideration of the representations and agreements set forth therein, the Company agrees to pay to you compensation as
follows: 
  
 (a) Accrued Obligations (as defined
in the Employment Agreement) as of the Retirement Date, payable as soon as practicable after the seventh day following your execution of the Release (such seventh day, the “Release Effective Date”). 
  
 (b) Payment of an amount equal to one hundred twenty-five
percent (125%) of the sum of (i) your annual base salary ($950,000) and (ii) the average 

 Mr. J. Patrick Spainhour 
 March 16, 2005 
 Page 2 
  

 of your annual bonuses earned during the three fiscal years ended January 31, 2005 ($833,409.33), in
accordance with the following schedule: 
  

	 	(A)	$1,040,322.10 on April 1, 2006; and 

  

	 	(B)	$148,617.44 on the first business day of each month during the period commencing May 1, 2006 and ending December 31, 2006. The period commencing on the Retirement Date and ending on
December 31, 2006 shall be referred to herein as the “Compensation Period”. 

  
 (c) Cash compensation equal to your annual bonus for fiscal year 2005, if any, pursuant to the Company’s Management Performance
Compensation Plan, such Bonus to be based upon the Company’s actual performance for fiscal year 2005 and prorated to reflect the number of full or partial pay periods in fiscal year 2005 for which you were employed by the Company through and
including the Retirement Date, payable on the date on which payments for such year are made to active employees under the plan. 
  
 (d) Continuation of your medical and life insurance coverage as in effect immediately prior to the Retirement Date during the Compensation
Period. 
  
 (e) Cash compensation in an amount
equal to the incentive compensation payment you would have received, if any, under the Company’s Long Term Cash Incentive Compensation Plan for the fiscal 2003 – 2005 Performance Cycle (to the extent any such payments are due under such
plan), payable on the date on which payments for such performance cycle are made to active employees under the plan. 
  
 (f) As of the Release Effective Date, the stock options listed on Appendix B attached hereto, granted to you by the Company (collectively,
the “Options”), shall, in accordance with the provisions of Section 7(d)(5) of the Employment Agreement, become fully vested and remain outstanding until 90 days following the end of the Compensation Period. Any options remaining
unexercised after such date shall be cancelled at such time. Notwithstanding the foregoing, no Option shall remain exercisable beyond the expiration of its original ten year term. 
  
 (g) The restricted stock awards listed on Appendix C attached hereto, granted to you by the Company
(collectively, the “Restricted Stock Awards”) shall vest on the Release Effective Date. 
  
 All payments made under this section 3 of this Agreement (including the vesting of restricted stock awards pursuant to paragraph (g) above) shall be made subject to any applicable tax withholding. 
  

 Mr. J. Patrick Spainhour 
 March 16, 2005 
 Page 3 
  

 4. You acknowledge that, notwithstanding anything contained in the Employment Agreement, you will
remain subject to the provisions of section 9 throughout the Compensation Period. 
  
 5. Notwithstanding anything in this Agreement to the contrary, in the event that you take any action in contravention of the non-solicitation or confidentiality provisions contained in sections 9 (as modified hereby)
and 10 of the Employment Agreement, or in material violation of the terms of this Agreement, you will immediately forfeit your right to any future payments to or benefits under paragraph 3 of this Agreement, and all Options shall no longer be
exercisable and shall be immediately cancelled. 
  
 6. On the
Retirement Date, you shall return all property of the Company and its affiliates in your possession, including, but not limited to, credit cards, security key cards, telephone cards, cell phones, car service cards, computers, computer software or
hardware, identification cards, records and copies of records, correspondence and copies of correspondence and other books or manuals issued by the Company or its affiliates. 
  
 7. You agree not to take any action or to make any statement, written or oral, that disparages the business or management of
the Company or any Related Persons (as defined in the Release). You further agree not to take any action that is intended to damage (or would reasonably be perceived as likely to cause damage to) the business or reputation of the Company or any
Related Persons, or that interferes with, impairs or disrupts the normal operations of the Company or any Related Persons. 
  
 8. If you do not execute the Release within twenty-one days immediately following the Retirement Date, or if you revoke the Release prior to the Release
Effective Date, this Agreement shall be null and void and no benefits will be paid or available to you hereunder. 
  
 9. Until the Retirement Date, the Employment Agreement shall remain in full force and effect and govern the rights and obligations of the parties thereto.
From and after the Retirement Date, the terms in this Agreement, the Release and the penultimate sentence of section 3(b), section 9 (as modified hereby) and sections 10 and 16 of the Employment Agreement will constitute the entire agreement between
you and the Company and may not be altered or modified other than in a writing signed by you and the Company. You represent that in executing this Agreement you do not rely and have not relied upon any representation or statement not set forth
herein made by the Company or any of its agents, representatives, attorneys or any Related Persons with respect to the subject matter, basis or effect of this Agreement, or otherwise. 
  
 10. This Agreement will be governed by the laws of the State of New York, without reference to its choice of law rules.

  

 Mr. J. Patrick Spainhour 
 March 16, 2005 
 Page 4 
  

 If this letter correctly sets forth our understanding, please so signify by signing and dating the
enclosed copy of this letter and returning it to me. 
  

			
	 Very truly yours,

	
	 AnnTaylor Stores Corporation

		
	By:	 	 /s/ Robert C. Grayson

  
 AGREED TO AND ACCEPTED: 
  

	
	
	 /s/ J. Patrick Spainhour

  
 Dated: March 16, 2005

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