Document:

Exhibit 4.2

		
			CENTURY COMMUNITIES, INC.
		

		
			DESCRIPTION OF SECURITIES REGISTERED PURSUANT TO SECTION 12 OF 
		

		
			THE SECURITIES EXCHANGE ACT OF 1934
		

		
			Century Communities, Inc., a Delaware corporation (“Century,” “we,” “us” and “our”), has only one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended: our common stock, par value $0.01 per share (“common stock”).
		

		
			The following description of our common stock is a summary and does not purport to be complete. It is subject to and qualified in its entirety by reference to our Certificate of Incorporation, as amended (the “Charter”), and our Bylaws, as amended (the “Bylaws”), which are filed as exhibits to our most recently filed Annual Report on Form 10-K and are incorporated by reference herein. We encourage you to read our Charter, our Bylaws and the applicable provisions of the General Corporation Law of the State of Delaware (the “DGCL”) for additional information.
		

		
			Authorized Shares
		

		
			Our Charter authorizes the issuance of up to 150,000,000 shares of capital stock, consisting of:
		

			
	
			
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			100,000,000 shares of common stock; and

			
	
			
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			50,000,000 shares of preferred stock, par value $0.01 per share (“preferred stock”), of which no shares are outstanding.

		
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			The Board of Directors of Century (the “Board”) is authorized to provide out of the unissued shares of preferred stock for one or more series of preferred stock, and, with respect to each such series, to fix the number of shares constituting such series and the designation of such series, the powers (including voting powers), if any, of the shares of such series and the preferences and relative, participating, optional, special or other rights, if any, and any qualifications, limitations or restrictions of the shares of such series. The designations, powers, preferences and relative, participating, optional, special and other rights of each series of preferred stock, if any, and the qualifications, limitations or restrictions thereof, if any, may differ from those of any and all other series of preferred stock at any time outstanding. 
		

		
			We may amend from time to time our Charter to increase the number of authorized shares of common stock or preferred stock. Any such amendment would require the approval of the holders of a majority of the voting power of the shares entitled to vote thereon. In addition, under the terms of our Charter, the number of authorized shares of preferred stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of a majority in voting power of all of the then outstanding shares of capital stock of Century entitled to vote irrespective of Section 242(b)(2) of the DGCL, without the separate vote of the holders of the preferred stock as a class.
		

		
			Voting Rights
		

		
			Each holder of our common stock is entitled to one vote per each share on all matters submitted to a vote of stockholders. Our common stock does not have cumulative voting rights. Subject to applicable law and the rights, if any, of the holders of outstanding shares of any series of preferred stock we may designate and issue in the future, holders of our common stock are entitled to vote on all matters on which stockholders generally are entitled to vote. 
		

		
			Our Bylaws provide that at all meetings of stockholders for the election of directors at which a quorum is present and which election is not a Contested Election, as defined in the Bylaws, a nominee for director shall be elected by a majority of the votes cast.  A “majority of the votes cast” means that the number of votes cast “for” a director nominee exceeds the number of votes cast “against” such director nominee (with “abstentions” and “broker non-votes” not counted as a vote cast either “for” or “against” that nominee’s election); provided, however, that directors shall be elected by a plurality of the votes cast in connection with any Contested Election, as defined in the 
		

		 

 

		Company’s Bylaws. Pursuant to a director resignation policy in our Corporate Governance Guidelines, any incumbent director who is not elected shall promptly tender a written offer of resignation as a director and the Nominating and Corporate Governance Committee of the Board will act on an expedited basis to recommend whether to accept or reject the director’s resignation offer or take other action and will submit its recommendation for prompt consideration by the Board. If the Board accepts a director’s resignation offer pursuant to this process, the Nominating and Corporate Governance Committee will recommend to the Board and the Board will thereafter determine what action, if any, will be taken with respect to the vacancy created by the resignation. The Board will take action with respect to the recommendation by the Nominating and Corporate Governance Committee no later than 90 days following certification of the election results and will publicly disclose its decision regarding the director’s resignation offer, if applicable, promptly thereafter.
		

		
			Our Bylaws further provide that unless otherwise provided by our Charter, Bylaws, the rules or regulations of any stock exchange applicable to Century or applicable law or pursuant to any regulation applicable to Century or its securities, all other matters shall be decided by the affirmative vote of the holders of a majority in voting power of the shares of stock of Century that are present in person or by proxy and entitled to vote thereon.
		

		
			Dividend Rights
		

		
			Subject to applicable law and the rights, if any, of the holders of outstanding shares of any series of preferred stock we may designate and issue in the future, holders of our common stock are entitled to receive ratably the dividends, if any, at such times and in such amounts as may be declared by the Board out of funds legally available for that purpose. 
		

		
			Liquidation Rights
		

		
			If there is a liquidation, dissolution or winding up of Century, subject to applicable law and the rights, if any, of the holders of outstanding shares of any series of preferred stock we may designate and issue in the future, holders of our common stock are entitled to ratable distribution of our assets remaining after the payment in full of our liabilities.
		

		
			Other Rights and Preferences
		

		
			Under the terms of our Charter, the holders of our common stock have no preemptive rights, conversion rights or other subscription rights, and there are no redemption or sinking fund provisions applicable to our common stock. The rights, preferences and privileges of the holders of our common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of preferred stock that the Board may designate and issue in the future. Our Charter and Bylaws do not restrict the ability of a holder of our common stock to transfer his, her or its shares of common stock. All currently outstanding shares of our common stock are fully paid and non-assessable.
		

		
			Transfer Agent and Registrar
		

		
			The transfer agent and registrar for our common stock is American Stock Transfer & Trust Company, LLC.
		

		
			Exchange Listing
		

		
			Our common stock is listed on the New York Stock Exchange under the symbol “CCS.”
		

		

		

		 

 

		
		

		
			Anti-Takeover Effects of Certain Provisions of our Charter and Bylaws and the DGCL
		

		
			Our Charter and Bylaws and the DGCL contain provisions that may have the anti-takeover effect of delaying, deferring or preventing a change in control of Century.
		

		
			Anti-Takeover Provisions in our Charter and Bylaws
		

		
			Our Charter and Bylaws contain the following anti-takeover provisions that may have the anti-takeover effect of delaying, deferring or preventing a change in control of Century:
		

			
	
			
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			We have shares of common stock and preferred stock available for future issuance without stockholder approval. The existence of unissued and unreserved common stock and preferred stock may enable the Board to issue shares to persons friendly to current management or to issue preferred stock with terms that could render more difficult or discourage a third-party attempt to obtain control of us by means of a merger, tender offer, proxy contest or otherwise, thereby protecting the continuity of our management.

			
	
			
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			Stockholder action must be taken at an annual or special meeting of stockholders, and stockholders may not act by written consent in lieu of such a meeting.

			
	
			
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			Special meetings of our stockholders may be called only by the Board, the chairman of the Board, our chief executive officer or our president.

			
	
			
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			The Board may make, alter, amend and repeal our Bylaws without stockholder approval, subject to the power of our stockholders to alter, amend or repeal any Bylaw, whether adopted by them or otherwise, and any Bylaw amendment that is to be made, altered, amended or repealed by our stockholders must receive the affirmative vote of the holders of at least 66 2/3% of the voting power of all then outstanding shares of our capital stock entitled to vote generally in the election of directors, voting together as a single class.

			
	
			
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			Except for any additional directors elected by the holders of any outstanding series of preferred stock as provided for or fixed pursuant to the provisions of our Charter, and except with respect to the removal of directors at a special election meeting, directors may be removed from office only by the affirmative vote of the holders of at least 66 2/3% of the voting power of all of the then outstanding shares of our capital stock entitled to vote generally in the election of directors, voting together as a single class.

			
	
			
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			Subject to the rights, if any, of the holders of any outstanding series of preferred stock as provided for or fixed pursuant to the provisions of our Charter and the right of stockholders to elect directors to fill vacancies on the Board in connection with a special election meeting, newly created directorships resulting from an increase in the authorized number of our directors or any vacancies on the Board resulting from death, resignation, retirement, disqualification, removal or other cause may be filled only by the affirmative vote of a majority of the remaining directors then in office, even though less than a quorum, and any director so chosen will hold office until the next election of directors and until his or her successor is elected and qualified.

			
	
			
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			The affirmative vote of the holders of at least 66 2/3% of the voting power of our outstanding shares of capital stock entitled to vote generally in the election of directors, voting together as a single class, is required to amend, alter, repeal or adopt any new or additional Charter provision inconsistent with certain of our Charter provisions, including those relating to the removal of directors, the amendment of our Bylaws, the prohibition against stockholder action by written consent, indemnification and advancement of expenses, and limitation of director liability. The provision of our Charter that sets forth this requirement also requires the affirmative vote of the holders of at least 66 2/3% of the voting power of our outstanding shares of capital stock entitled to vote generally in the election of directors, voting together as a single class, in order to be amended, altered, or repealed or for any provision inconsistent therewith to be adopted.

			
	
			
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			Stockholders must follow advance notice procedures to submit nominations of candidates for election to the Board at an annual or special meeting of our stockholders and must follow advance notice procedures to submit other proposals for business to be brought before an annual meeting of our stockholders.

		 

 

			
	
			
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			Unless we consent in writing to the selection of an alternative forum, the sole and exclusive forum for (i) any derivative action or proceeding brought on our behalf, (ii) any action asserting a claim of or for breach of a fiduciary duty owed by any director or officer or other employee of Century to us or to our stockholders, (iii) any action asserting a claim against us or against any director or officer or other employee of Century arising pursuant to any provision of the DGCL, our Charter or Bylaws, or (iv) any action asserting a claim against us or against any director or officer or other employee of Century governed by the internal affairs doctrine, shall be a state court located within the State of Delaware (or, if no state court located within the State of Delaware has jurisdiction in respect of any of these actions, the U.S. federal district court for the District of Delaware).

		
			Delaware Business Combination Statute
		

		
			We are a Delaware corporation, and, in our Charter, we have elected to be subject to Section 203 of the DGCL, known as the Delaware Business Combination Statute. In general, Section 203 of the DGCL prohibits a publicly-held Delaware corporation from engaging in a “business combination” with an “interested stockholder” for a period of three years following the time the person became an interested stockholder, unless:
		

			
	
			
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			Prior to the time the stockholder became an interested stockholder, the board of directors of the corporation approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder;

			
	
			
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			Upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, exclusive of shares owned by directors who are also officers and by certain employee stock plans; or

			
	
			
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			At or subsequent to such time, the business combination is approved by the board of directors and authorized at an annual or special meeting of the stockholder by the affirmative vote of at least two-thirds of the outstanding voting stock that is not owned by the interested stockholder.

		
			Generally, a “business combination” includes a merger, asset or stock sale, or other transaction resulting in a financial benefit to the interested stockholder. Generally, an “interested stockholder” is a person who, together with affiliates and associates, owns 15% or more of a corporation’s voting stock or is the corporation’s affiliate or associate and was the owner of 15% or more of the corporation’s outstanding voting stock at any time within the three-year period immediately before the date of determination.
		

		
			﻿Exhibit 10.4

		
			[Non-Employee Director]
		

		
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			NOTICE OF RESTRICTED STOCK UNIT GRANT UNDER THE 
		

		
			CENTURY COMMUNITIES, INC. 2017 OMNIBUS INCENTIVE PLAN
		

		
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			Century Communities, Inc., a Delaware corporation (the “Company”), pursuant to the Century Communities, Inc. 2017 Omnibus Incentive Plan (as may be amended from time to time, the “Plan”), hereby grants to the individual named below (the “Participant”) the number of Restricted Stock Units (as defined in the Plan) set forth below (the “Restricted Stock Units”). The Restricted Stock Units are subject to all of the terms and conditions set forth herein, in the Restricted Stock Unit Award Agreement attached hereto (the “Award Agreement”), and in the Plan, all of which are incorporated herein in their entirety. Capitalized terms not otherwise defined herein will have the meaning set forth in the Plan. This Restricted Stock Units grant has been made as of the grant date indicated below, which shall be referred to as the “Grant Date”.  
		

		
			Grant ID:[Insert Grant ID number]
		

		
			Participant:[Insert Participant Name]
		

		
			Grant Date:  [Insert Grant Date]
		

		
			Total Number of 
		

		
			Restricted Stock Units:[Insert Number of Underlying Shares], subject to adjustment as provided in the Plan.
		

		
			Vesting Schedule:  Except as otherwise provided in Section 3 of the Award Agreement, the Restricted Stock Units will vest in full on the one-year anniversary of the Grant Date; provided,  however, that the Participant remains a Non-Employee Director of the Company through the vesting date.
		

		
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			This Restricted Stock Unit grant will be null and void unless the Participant accepts the grant by executing it in the space provided below and returning such original execution copy to the Company or otherwise indicating affirmative acceptance of the Restricted Stock Unit grant electronically pursuant to procedures established by the Company and/or its third party administrator. The undersigned Participant acknowledges that he or she has received a copy of this Notice of Restricted Stock Unit Grant (this “Notice”), the Award Agreement, the Plan and the Plan Prospectus. As an express condition to the grant of the Restricted Stock Unit hereunder, the Participant agrees to be bound by the terms of this Notice, the Award Agreement and the Plan. The Participant has read carefully and in its entirety the Award Agreement and specifically the acknowledgements in Section 6.9 thereof. This Notice, the Award Agreement and the Plan set forth the entire agreement and understanding of the Company and the Participant with respect to the grant, vesting and administration of this Restricted Stock Unit award and supersede all prior agreements, arrangements, plans and understandings. This Notice (which includes the attached Award Agreement) may be executed in two counterparts each of which will be deemed an original and both of which together will constitute one and the same instrument.
		

		
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			CENTURY COMMUNITIES, INC.Participant
		

		
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			________________________________________________________________
By:    Dale Francescon
Title: Co-Chief Executive Officer
		

		

		

		 

		

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		RESTRICTED STOCK UNIT AWARD AGREEMENT
		

		
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			Pursuant to the Notice of Restricted Stock Unit Grant (the “Grant Notice”) to which this Restricted Stock Unit Award Agreement (this “Agreement”) is attached and which Grant Notice is included in and part of this Agreement, and subject to the terms of this Agreement and the Century Communities, Inc. 2017 Omnibus Incentive Plan (as may be amended from time to time, the “Plan”), Century Communities, Inc., a Delaware corporation (the “Company”), and the Participant named in the Grant Notice (the “Participant”) agree as follows.  
		

			
	
			
				 1.
			Incorporation of Plan; Definitions. The provisions of the Plan are hereby incorporated herein by reference. Except as otherwise expressly set forth herein, this Agreement will be construed in accordance with the provisions of the Plan and any capitalized terms not otherwise defined in this Agreement or in the Grant Notice will have the same meanings as set forth in the Plan. The provisions of this Agreement will be interpreted as to be consistent with the Plan and any ambiguities in this Agreement will be interpreted by reference to the Plan.  In the event that any provision of this Agreement is not authorized by or is inconsistent with the terms of the Plan, the terms of the Plan will prevail. The Committee will have final authority to interpret and construe the Plan and this Agreement and to make any and all determinations thereunder, and its decision will be binding and conclusive upon the Participant and his or her legal representatives in respect of any questions arising under the Plan or this Agreement. A copy of the Plan and the Plan Prospectus have been delivered to the Participant together with this Agreement.

			
	
			
				 2.
			Grant of Restricted Stock Units.  The Company hereby grants to the Participant that number of Restricted Stock Units as set forth in the Grant Notice, subject to adjustment as provided in the Plan, and each of which, once vested pursuant to this Agreement, will be settled in one (1) share of Common Stock, subject to the terms, conditions and restrictions set forth below and in the Plan.  Reference in this Agreement to the Restricted Stock Units will be deemed to include the Dividend Equivalents with respect to such Restricted Stock Units as set forth in Section 4.2 of this Agreement.

			
	
			
				 3.
			Vesting and Conditions to Issuance of Common Stock; Forfeiture.

			
	
			
				 3.1
			Service-Based Vesting Condition.  Except as otherwise provided in this Section 3 or this Agreement or the Plan, the Restricted Stock Units will vest and such vested Restricted Stock Units will be converted to Common Stock immediately thereafter in the amounts and on the date(s) as indicated in the Vesting Schedule set forth in the Grant Notice (each a “Vesting Date”) and as set forth in this Agreement and in the Plan; provided,  however, that the Participant remains a Non-Employee Director of the Company through the applicable Vesting Date.  

			
	
			
				 3.2
			Change in Control.  Except as otherwise provided in an Individual Agreement between the Company and the Participant, upon a Change in Control, the Restricted Stock Unit will be subject to Section 17 of the Plan.

			
	
			
				 3.3
			Effect of Termination of Service.  Except as otherwise provided in Section 17 of the Plan or an Individual Agreement between the Company and the Participant, in the event the Participant’s service as a Non-Employee Director of the Company is terminated for any reason, including for Cause, by reason of death or Disability of the Participant, all outstanding but unvested Restricted Stock Units held by the Participant as of the effective date of such termination will be terminated and forfeited. 

			
	
			
				 3.4
			Effect of Actions Constituting Cause or Adverse Action; Forfeiture or Clawback. The Restricted Stock Units are subject to the forfeiture provisions set forth in Section 15.5 of the Plan, including those applicable if the Participant is determined by the Committee to have taken any action that 
		

		 

		

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			would constitute Cause or an Adverse Action and any forfeiture or clawback requirement under Applicable Law or any policy adopted from time to time by the Company. 

			
	
			
				 4.
			Settlement; Issuance of Common Stock.

			
	
			
				 4.1
			Timing and Manner of Settlement.  Vested Restricted Stock Units will be converted to shares of Common Stock which the Company will issue and deliver to the Participant (either by delivering one or more certificates for such shares or by entering such shares in book entry form in the name of the Participant or depositing such shares for the Participant’s benefit with any broker with which the Participant has an account relationship or the Company has engaged to provide such services under the Plan, as determined by the Company in its sole discretion) within ninety (90) days following the earliest to occur of (i) the Vesting Date, or (ii) the Participant’s “separation from service” as such term is defined for purposes of Section 409A of the Code (which includes termination of service by reason of the Participant’s death), except to the extent that shares of Common Stock are withheld to pay tax withholding obligations or the Participant has properly elected to defer income that may be attributable to such Restricted Stock Units under a Company deferred compensation plan or arrangement. If any shares of Common Stock shall be issuable with respect to the Restricted Stock Units as a result of the Participant’s “separation from service” at such time as the Participant is a “specified employee” within the meaning of Section 409A of the Code, then no shares shall be issued, except as permitted under Section 409A of the Code, prior to the earlier of (i) the date immediately after the end of the six-month period following the Participant’s “separation from service”, or (ii) the Participant’s death. Payment of amounts under this Agreement (by issuance of shares of Common Stock or otherwise) are intended to comply with the requirements of Section 409A of the Code and this Agreement shall in all respects be administered and construed to give effect to such intent. The Committee in its sole discretion may accelerate or delay the distribution of any payment under this Agreement to the extent allowed under Section 409A of the Code.

			
	
			
				 4.2
			Dividends Equivalents.  The Restricted Stock Units are being granted with an equal number of Dividend Equivalents. Such Dividend Equivalents entitle the Participant to be credited with any amount equal to all cash dividends paid on one share of Common Stock while the Restricted Stock Unit is outstanding.  Dividend Equivalents will be converted into additional Restricted Stock Units and will be subject to the same conditions and restrictions as the Restricted Stock Units to which they attach. The number of additional Restricted Stock Units to be received as Dividend Equivalents will be determined by dividing the cash dividend per share by the Fair Market Value of one share of Common Stock on the dividend payment date. Dividend Equivalents as to the Restricted Stock Units will be subject to forfeiture and termination to the same extent as the corresponding Restricted Stock Units as to which the Dividend Equivalents relate. 

			
	
			
				 5.
			Rights of Participant.

			
	
			
				 5.1
			Service as a Non-Employee Director.  Nothing in this Agreement will interfere with or limit in any way the right of the Company or any Subsidiary to terminate the service of the Participant at any time, nor confer upon the Participant any right to continue service as a Non-Employee Director with the Company or any Subsidiary.

			
	
			
				 5.2
			Rights as a Stockholder.  The Participant will have no rights as a stockholder with respect to shares of Common Stock covered by the Restricted Stock Units unless and until the Participant becomes the holder of record of such shares of Common Stock issued in settlement of the Restricted Stock Units.

		 

		

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				 5.3
			Restrictions on Transfer.  Except pursuant to testamentary will or the laws of descent and distribution or as otherwise expressly permitted by the Plan, no right or interest of the Participant in the Restricted Stock Units prior to the vesting, issuance or settlement of the Restricted Stock Units will be assignable or transferable, or subjected to any lien, during the lifetime of the Participant, either voluntarily or involuntarily, directly or indirectly, by operation of law or otherwise.  Any attempt to transfer, assign or encumber the Restricted Stock Units other than in accordance with this Agreement and the Plan will be null and void and the Restricted Stock Units for which the Restrictions have not lapsed will be forfeited and immediately returned to the Company.

			
	
			
				 6.
			Miscellaneous.

			
	
			
				 6.1
			Governing Law; Mandatory Jurisdiction.  The validity, construction, interpretation, administration and effect of this Agreement and any rules, regulations and actions relating to this Agreement will be governed by and construed exclusively in accordance with the laws of the State of Delaware, notwithstanding the conflicts of laws principles of any jurisdictions.  The Company and the Participant hereby irrevocably submit to the jurisdiction and venue of the Federal or State courts of the States of Colorado and Delaware relative to any and all disputes, issues and/or claims that may arise out of or relate to the Plan or this Agreement.  The Company and the Participant further agree that any and all such disputes, issues and/or claims arising out of or related to the Plan or this Agreement will be brought and decided in the Federal or State courts of the States of Colorado or Delaware, with such jurisdiction and venue selected by and at the sole discretion of the Company.

			
	
			
				 6.2
			Interpretation.  Any dispute regarding the interpretation of this Agreement will be submitted by the Participant or by the Company forthwith to the Committee for review.  The resolution of such a dispute by the Committee will be final and binding on all parties.

			
	
			
				 6.3
			Successors and Assigns.  The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement will inure to the benefit of the successors and assigns of the Company.  Subject to the restrictions on transfer herein set forth, this Agreement will be binding upon the Participant and his or her heirs, executors, administrators, successors and assigns.

			
	
			
				 6.4
			Notices.  All notices, requests or other communications provided for in this Agreement must be made, if to the Company, to Century Communities, Inc., Attn:  Chief Financial Officer, 8390 E. Crescent Parkway, Suite 650, Greenwood Village, Colorado 80111, and if to the Participant, to the last known mailing address of the Participant contained in the records of the Company.  All notices, requests or other communications provided for in this Agreement must be made in writing either (a) by personal delivery, (b) by facsimile or electronic mail with confirmation of receipt, (c) by mailing in the United States mails or (d) by express courier service.  The notice, request or other communication will be deemed to be received upon personal delivery, upon confirmation of receipt of facsimile or electronic mail transmission or upon receipt by the party entitled thereto if by United States mail or express courier service; provided,  however, that if a notice, request or other communication sent to the Company is not received during regular business hours, it will be deemed to be received on the next succeeding business day of the Company.

			
	
			
				 6.5
			Electronic Delivery and Acceptance. The Company may, in its sole discretion, deliver any documents related to the Restricted Stock Unit by electronic means or request the Participant’s consent to participate in the Plan by electronic means. The Participant hereby consents to receive all applicable documentation by electronic delivery and to participate in the Plan through an on-line system established and maintained by the Company or a third party vendor designated by the Company.

		 

		

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				 6.6
			Other Laws.  The Company will have the right to refuse to issue to you or transfer any shares of Common Stock subject to this Restricted Stock Unit if the Company acting in its absolute discretion determines that the issuance or transfer of such shares might violate any Applicable Law.

			
	
			
				 6.7
			Investment Representation.  The Participant hereby represents and covenants that (a) any share of Common Stock acquired upon the vesting of the Restricted Stock Unit will be acquired for investment and not with a view to the distribution thereof within the meaning of the Securities Act of 1933, as amended (the “Securities Act”), unless such acquisition has been registered under the Securities Act and any applicable state securities laws; (b) any subsequent sale of any such shares will be made either pursuant to an effective registration statement under the Securities Act and any applicable state securities laws, or pursuant to an exemption from registration under the Securities Act and such state securities laws; and (c) if requested by the Company, the Participant will submit a written statement, in form satisfactory to the Company, to the effect that such representation (x) is true and correct as of the date of vesting of any shares of Common Stock hereunder or (y) is true and correct as of the date of any sale of any such share, as applicable.  As a further condition precedent to the delivery to the Participant of any shares of Common Stock subject to the Restricted Stock Units, the Participant will comply with all regulations and requirements of any regulatory authority having control of or supervision over the issuance or delivery of the shares and, in connection therewith, will execute any documents which the Company will in its sole discretion deem necessary or advisable.

			
	
			
				 6.8
			Non-Negotiable Terms. The terms of this Agreement and the Restricted Stock Units are not negotiable, but the Participant may refuse to accept the Restricted Stock Units by notifying the Company’s Chief Financial Officer or Vice President, Human Resources in writing within thirty (30) day after the Grant Date set forth in the Grant Notice.

			
	
			
				 6.9
			Acknowledgement by the Participant. In accepting the Restricted Stock Units, the Participant hereby acknowledges that:

			
	
			
				 (a)
			The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan.

			
	
			
				 (b)
			The grant of the Restricted Stock Units is voluntary and occasional and does not create any contractual or other right to receive future awards of Restricted Stock Units, or benefits in lieu of Restricted Stock Units, even if Restricted Stock Units have been granted repeatedly in the past.

			
	
			
				 (c)
			All decisions with respect to future Restricted Stock Units award grants, if any, will be at the sole discretion of the Company.

			
	
			
				 (d)
			The Participant is voluntarily participating in the Plan.

			
	
			
				 (e)
			The award of Restricted Stock Units is an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company, and which is outside the scope of the Participant’s employment or service contract, if any.

			
	
			
				 (f)
			The award of Restricted Stock Units is not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or any Subsidiary.

		 

		

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				 (g)
			The award of Restricted Stock Units or this Agreement will not be interpreted to form an employment or service contract with the Company or any Subsidiary.

			
	
			
				 (h)
			The future value of the shares of Common Stock subject to the Restricted Stock Units is unknown and cannot be predicted with certainty and if the Restricted Stock Units vest and the shares of Common Stock become issuable in accordance with the terms of this Agreement, the value of those shares of Common Stock may increase or decrease.

			
	
			
				 (i)
			In consideration of the grant of the Restricted Stock Units, no claim or entitlement to compensation or damages shall arise from termination of the Restricted Stock Units or diminution in value of the Restricted Stock Units or shares of Common Stock acquired upon vesting of the Restricted Stock Units resulting from the Participant’s termination of service with the Company (for any reason whatsoever and whether or not in breach of applicable labor laws) and the Participant hereby irrevocably releases the Company and its Subsidiaries from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by acceptance of the Restricted Stock Units, the Participant shall be deemed irrevocably to have waived his or her entitlement to pursue such claim.

			
	
			
				 (j)
			In the event of termination of the Participant’s service with the Company (whether or not in breach of local labor laws), the Participant’s right to receive the Restricted Stock Units and vest in the Restricted Stock Units under the Plan, if any, will terminate effective as of the date of termination of his or her service as determined in the sole discretion of the Committee.

			
	
			
				 (k)
			Neither the Company nor any Subsidiary is providing any tax, legal or financial advice, nor is the Company or any Subsidiary making any recommendations regarding the Participant’s participation in the Plan, acceptance of the Restricted Stock Units, acquisition of shares of Common Stock upon vesting of the Restricted Stock Units or any sale of such shares.

			
	
			
				 (l)
			The Participant has been 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.

			
	
			
				 (m)
			The Participant hereby agrees to accept electronic delivery of copies of any future amendments or supplements to the Prospectus or any future Prospectuses relating the Plan and copies of all reports, proxy statements and other communications distributed to the Company’s security holders generally by email directed to the Participant’s Company email address.

		
			﻿
		

		
			*     *     *    *    * 
		

		
			﻿
		

		 

		

			5

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