Document:

EIG-EX10.3_2012.3.31

EMPLOYERS HOLDINGS, INC.
EQUITY AND INCENTIVE PLAN

FORM OF
RESTRICTED STOCK UNIT AGREEMENT

THIS RESTRICTED STOCK UNIT AGREEMENT (this "Agreement"), is made effective as of_______________, 20__ (the "Date of Grant"), between Employers Holdings, Inc. (the "Company") and the individual named as the grantee on the signature page hereto (the "Grantee"), pursuant to the. the Company Equity and Incentive Plan, as amended from time to time (the "Plan"), which is a part of this Agreement.  Capitalized terms not defined herein will have the meanings ascribed to such terms in the Company Equity and Incentive Plan, as amended from time to time (the "Plan").  To the extent that there is a conflict between the terms of the Plan and this Agreement, the terms of the Plan will govern.

		
	1.
	Grant of Restricted Stock Units.  The Company hereby grants to the Grantee, _________________

Restricted Stock Units (the "RSUs").  The RSUs shall be subject to the terms and conditions set forth herein and, to the extent applicable, the Plan.

2.Vesting of Restricted Stock Units. 

		
	(a)
	Subject to subsections 2(b), (c) and (d) below, the RSUs shall become vested as to 25% of the RSUs on each of the first four anniversaries of the Date of Grant, provided that the Grantee has been continuously employed by the Company or any Subsidiary thereof through the relevant vesting dates and subject to accelerated vesting as set forth in Section 3 below and Section 7 of the Plan.

		
	(b)
	Termination of Employment by Reason of Death or Disability.  If the Grantee's employment terminates by reason of death or the Grantee's total and permanent disability (as defined in any agreement between the Grantee and the Company or, if no such agreement is in effect, as determined by the Committee (or its delegate) in its good faith discretion, in accordance with the definition used by the Company's then current Long Term Disability insurance carrier), then the RSUs shall become fully vested as of such date of termination.

		
	(c)
	Termination by Reason of Retirement.   If the Grantee's employment terminates by reason of the Grantee's Retirement (as defined below), then 50% of the Grantee's then unvested RSUs shall become vested as of the date of such termination and all of the Grantee's remaining unvested RSUs shall cease to vest and shall be forfeited and cancelled as of the date of such termination, without consideration.  For purposes of this Agreement, “Retirement” shall mean the Grantee's termination of employment after attaining age 60 and completing 10 years of continuous service with the Company (or any Subsidiary thereof) since January 1, 2000, and provided that the Grantee has given written notice of the Grantee's intent to retire to the Company (or its designate), no fewer than six months prior to the date that the Grantee terminates employment, in a form satisfactory to the Company (or its designate). 

		
	(d)
	Termination of Employment other than by Reason of Death, Retirement or Disability.  Subject to Section 3 below, if the Grantee's employment terminates for any reason other than by reason of death, Retirement or the Grantee's total and permanent disability, then all of the Grantee's unvested RSUs shall immediately be forfeited and canceled as of such date without consideration.

3.Change in Control Provisions.  In the event of a Change of Control:

		
	(a)
	If RSUs Are Assumed.  If the RSUs are assumed or substituted for in connection with a Change in Control, then, upon the termination of the Grantee's employment without Cause during the 24-month period following such Change in Control, (i) such RSUs shall become fully vested, (ii) any restrictions, payment conditions, and forfeiture conditions applicable to such RSUs shall lapse, and (iii) any performance conditions imposed with respect to such RSUs shall be deemed to be fully achieved.

		
	(b)
	If RSUs Are Not Assumed.  With respect to outstanding RSUs that are not assumed or substituted in connection with a Change in Control, upon the occurrence of the Change in Control (i) such RSUs shall become fully vested, (ii) any restrictions, payment conditions, and forfeiture conditions applicable to any such RSUs shall lapse, and (iii) any performance conditions imposed with respect to such RSUs shall be deemed to be fully achieved.

		
	(c)
	Definition of Assumed or Substituted For.  For purposes of this Section 3, RSUs shall be considered assumed or substituted for if, following the Change in Control, such RSUs remain subject to the same terms and conditions that were applicable to such units immediately prior to the Change in Control, except that such units confer the right to receive, for each such unit the consideration (whether stock, cash or other securities or property) received in the Change in Control by holders of shares of Stock for each share of Stock held on the effective date of the Change in Control (and if holders were offered a choice of consideration, the type of consideration chosen by the greatest number of holders of the outstanding shares).  Such assumption or substitution shall comply with the applicable provisions of section 409A of the Code.

		
	(d)
	Discretionary Cashout.  Notwithstanding any other provision of the Plan or this Agreement, in the event of a Change in Control, the Committee may, in its discretion, provide that upon the occurrence of the Change in Control, the RSUs shall be cancelled in exchange for a payment in an amount equal to (i) the consideration paid per share of Stock in the Change in Control multiplied by (ii) the number of RSUs granted hereunder that had not been settled as of such date.  Such payment shall be made within 30 days following such Change in Control.

		
	4.
	Settlement of RSUs.  Unless otherwise provided in Section 3 above or in the Plan, including, without limitation, by reason of a Change in Control, the RSUs shall be settled in whole shares of Stock (i.e., the Grantee shall receive one share of Stock for each RSU) within 30 days following the date such RSUs become vested. 

		
	5.
	No Right to Continued Employment.  Neither the Plan nor this Agreement shall be construed as giving the Grantee the right to continue in the employ or service of the 

Company or any Subsidiary thereof or to be entitled to any remuneration or benefits not set forth in the Plan, this Agreement or other agreement or to interfere with or limit in any way the right of the Company or any such Subsidiary to terminate such Grantee's employment.  Nor does this Agreement constitute an employment contract.

		
	6.
	Legend on Certificates.  The certificates representing the whole shares of Stock issued in settlement of the RSUs that are delivered to the Grantee pursuant to Section 4 of this Agreement shall be subject to such stop transfer orders and other restrictions as the Committee may determine is required by the rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange upon which such shares of Stock are listed, any applicable federal or state laws or the Company's Certificate of Incorporation and Bylaws, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions.

		
	7.
	Transferability.  An RSU may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Grantee otherwise than by will or by the laws of descent and distribution, and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Subsidiary thereof; provided that the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance. 

		
	8.
	Tax Withholding.   The Company shall have the power and the right to deduct or withhold from the grant of RSUs, or require the Grantee or beneficiary to remit to the Company, an amount sufficient to satisfy federal, state, and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising as a result of this Agreement.  Without limiting the foregoing, the Company shall be entitled to require, as a condition of delivery of the shares of Stock in settlement of the RSUs, that the Grantee agree to remit an amount in cash sufficient to satisfy all then current and/or estimated future federal, state and local withholding, and other taxes relating thereto.

		
	9.
	Securities Laws.  Upon the acquisition of any shares of Stock pursuant to the settlement of the RSUs, the Grantee will make or enter into such written representations, warranties and agreements as the Committee may reasonably request in order to comply with applicable securities laws or with this Agreement.

		
	10.
	Notices.  Any notice under this Agreement shall be addressed to the Company in care of the Chief Legal Officer, addressed to the principal executive office of the Company and to the Grantee at the address last appearing in the records of the Company for the Grantee or to either party at such other address as either party hereto may hereafter designate in writing to the other.  Any such notice shall be deemed effective upon receipt thereof by the addressee.

		
	11.
	Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada, without regard to the conflicts of laws provisions thereof.

		
	12.
	Acknowledgement.  By entering into this Agreement the Grantee agrees and acknowledges that the Grantee has received and read a copy of the Plan. 

  
		
	13.
	No Stockholder Rights.  The Grantee shall have no rights of a stockholder of the Company 

with respect to the RSUs, including, but not limited to, the rights to vote and receive ordinary dividends until the date of issuance of a stock certificate for such shares of Stock.
 
		
	14.
	Repayment Upon Restatement; Clawbacks Generally:  In the event the Company is required to restate any of its financial statements, the Company may require the Grantee to repay to the Company the aggregate Fair Market Value of any RSUs that were settled or to cancel any outstanding RSUs.  In addition, the RSUs shall be subject to such other repayment, clawback or similar provisions as may be required by the terms of the Plan or applicable law or applicable policy in effect from time to time.

		
	15.
	 Section 409A Compliance. It is intended that this Agreement shall comply with the provisions of section 409A of the Code so as not to subject the Grantee to the payment of additional taxes or interest under section 409A of the Code.  In furtherance of this intent, this Agreement shall be interpreted, operated, and administered in a manner consistent with these intentions, and to the extent that any regulations or other guidance issued under section 409A of the Code would result in the Grantee being subject to payment of additional income taxes or interest under section 409A of the Code, the Grantee and the Company agree to amend this Agreement the extent feasible to avoid the application of such taxes or interest under section 409A of the Code. 

		
	16.
	Amendment.  This Agreement may not be amended, terminated, suspended or otherwise modified except in a written instrument duly executed by both parties.

		
	17.
	Entire Agreement.  This Agreement (and the other writings incorporated by reference herein) constitute the entire agreement between the parties with respect to the subject matter hereof and supersede all prior written or oral negotiations, commitments, representations and agreements with respect thereto

		
	18.
	Signature in Counterparts.  This Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 

IN WITNESS WHEREOF, this Agreement has been executed and delivered by the parties hereto.
EMPLOYERS HOLDINGS, INC.
By: ______________________
        Douglas D. Dirks
        President and Chief Executive Officer

        GRANTEE

                                        _______________________
Insert name of Granteeex10_103.htm

CareView Communications, Inc. 10-Q

 

EXHIBIT 10.103

 

CONSULTING AGREEMENT

AGREEMENT by and between CareView Communications, Inc. (the “Company”) having its principal place of business at 405 State Highway 121 Bypass, Suite B240, Lewisville, Texas 75067 and Heartland Energy Partners, LLC, (the “Consultant”) having its principal place of business at 4601 N. Fairfax, Suite 110, Arlington, VA 22203. The Agreement will become effective upon the date of the signing of this Agreement by both parties (the “Effective Date”).

WHEREAS, the Company desires to retain the Consultant for consulting services in connection with the Company’s business affairs on a non-exclusive basis, and the Consultant is willing to undertake to provide such services as hereinafter fully set forth:

WITNESSETH

NOW THEREFORE, the parties agree as follows:

	  	
1.

	
Term: Twelve (12) months from the date that the Company is approved by the United State General Services Administration (“GSA”), however this Agreement may be cancelled by either party with 30 days written notice (the “Termination Date”).

	  	  	  
	  	
2.

	
Nature of Services: The Company hereby engages the Consultant to render the services hereinafter described during the term hereof (it being understood and agreed that the Consultant is free to tender the same or similar services to any other entity selected by it that does not compete with the business of the Company):

	  	  	  
	  	  	
Former VA Deputy Secretary Gordon Mansfield and Mr. John English will develop, coordinate, manage and execute a comprehensive strategy for the development of a working relationship with the Company and members of its VA team. Consultant will devise a strategy on several initiatives listed below within the Department of Veterans Affairs (VA), including the following:

	  	
●

	
Raise CareView Profile at the VA

	  	  	
This engagement will include the services of both John English and former VA Deputy Secretary Gordon Mansfield. Secretary Mansfield will provide the Company with the higher profile and credibility needed amongst VA/VHA leaders. Obvious efforts will be made within VHA amongst VISN leadership, Patient Care Services, Office of Disability and Medical Assessment, Office of Deputy Undersecretary for Health of Policy and Services, and the VHA Undersecretary’s office. It is important to garner additional exposure within program offices and mid-level management who are both stationed in the field and at central office in Washington.

	  	  	  
	  	
●

	
Expand on Current VA Footprint

	  	  	
Secretary Mansfield and Mr. English will work with the Company to develop a strategy based on the existing VA footprint in Arkansas to not only raise the profile, but to also raise awareness within VA of the value that the Company will bring in the area of patient safety with the minimization of falls. In addition to meetings, additional awareness should be made through the development of white papers, which will be distributed amongst VA management highlighting the Company offerings. The Veteran Service Organizations should also be an important component of the efforts to raise awareness regarding the Company’s ability to increase patient safety within the individual medical center.

 

  

1

  

 

	  	
●

	
Meetings

	  	  	
Secretary Mansfield and Mr. English will utilize their contacts within the VA stakeholder community to garner the audience and exposure needed to accomplish the goals set out by the Company. It is important to note, that Mr. Mansfield and Mr. English do not view their role as strictly door openers to schedule an abundant amount of meetings. Rather, they should be viewed as a collaborative partner with the Company to assist with formulating a comprehensive strategy and the execution of that strategy with the purpose of reaching goals and objectives. The introduction of the Company to these senior leaders with subsequent follow-up meetings will be a top priority. We recommend the following initial meetings:

 

	  	
o

	
Targeted VISN Directors

	  	
o

	
Undersecretary of VHA

	  	
o

	
Deputy Undersecretary of VHA for Health of Policy and Services

	  	
o

	
Office of Disability and Medical Assessment

	  	
o

	
Patient Care Services

	  	
o

	
Hospital Executive Leadership

	  	
3.

	
Responsibilities of the Company: The Company shall provide the Consultant with all public, non-private financial and business information about the Company as reasonably requested by the Consultant in a timely manner. In addition, executive officers, management and directors of the Company shall make themselves available for personal consultations either with the Consultant and/or third party designees, subject to reasonable prior notice, pursuant to the request of the Consultant.

	  	  	  	  
	  	
4.

	
Compensation: For corporate finance, business development, strategic planning, investor relations, and other consulting work, the Company agrees to pay and/or issue to the Consultant the following:

	  	  	  	  
	  	  	
(a)

	
Cash Fee – A monthly cash fee of US$10,000, the first payment of which is due within ten (10) business days after receiving GSA approval, with subsequent monthly payments due thereafter for the duration of the Agreement unless terminated.

	  	  	  	  
	  	  	
(b)

	
Warrants – A one-time issuance of five-year warrants to purchase 1,000,000 shares of the Company’s common stock at an exercise price equal to the ten (10) day average closing price ending on the day before the Effective Date; provided however in no event shall the exercise price be lower than $1.50 per share. The warrants will vest on the following schedule: Commencing on or near the date of the GSA approval, every ninety (90) days thereafter the Company and the Consultant shall meet to discuss the effectiveness of Consultant’s services. Said performance will then be evaluated and the vesting of warrants shall be determined at the sole discretion of Steve Johnson and the Board of Directors. Should the Agreement be terminated, any warrants not yet vested will be cancelled.

	  	  	  	  
	  	
5.

	
Expenses: The Company shall reimburse the Consultant for actual out-of pocket expenses incurred by the Consultant in connection with the performance by the Consultant of its duties hereunder. The Consultant shall not incur any expenses over $500.00 without obtaining prior written approval from the Company.

	  	  	  	  
	  	
6.

	
Complete Agreement: This Agreement contains the entire Agreement between the parties with respect to the contents hereof supersedes all prior agreements and understandings between the parties with the respect to such matters, whether written or oral. Neither this Agreement, nor any term or provisions hereof may be changed, waived, discharged or amended in any manner other than by any instrument in writing, signed by the party against which the enforcement of the change, waiver, discharge or amendment is sought.

 

  

2

  

 

	  	
7.

	
Counterparts: This Agreement may be executed in two or more counterparts, each of which shall be an original but all of which shall constitute one Agreement.

	  	  	  	  
	  	
8.

	
Disclosure: Any financial advice rendered by the Consultant pursuant to this Agreement may not be disclosed publicly in any manner without the prior written approval of the Consultant, unless required by law or statute or any court, governmental or regulatory agency. All non-public information given to the Consultant by the Company will be treated by the Consultant as confidential information and the Consultant agrees not to make use of such information other than in connection with its performance of this Agreement, provided however that any such information may be disclosed if required by any court or governmental or regulatory authority, board or agency. “Non-public information” shall not include any information which (i) is or becomes generally available to the public other than as a result of a disclosure by the Consultant; (ii) was available to the Consultant prior to its disclosure to the Consultant by the Company, provided that such information is not known by the Consultant to be subject to another confidentiality agreement with another party; or (iii) becomes available to the Consultant on a non-confidentiality basis from a source other than the Company, provided that such source is not bound by a confidentiality agreement with the Company.

	  	  	  	  
	  	
9.

	
Notice: Any or all notices, designations, consents, offers, acceptance or other communication provided for herein shall be given in writing and delivered in person or by registered or certified mail, return receipt requested, directed to the address shown below unless notice of a change of address is furnished:

If to the Consultant:

Heartland Energy Partners, LLC

4601 N. Fairfax, Suite 110

Arlington, VA 22203

Attention: John English

If to the Company:

CareView Communications, Inc.

405 State Highway, Suite B240

Lewisville, Texas 75067

Attention: Steve Johnson

	  	
10.

	
Severability: If any provision of this Agreement is held invalid, illegal or unenforceable,

	  	  	  	  
	  	  	
(a)

	
the validity, legality and enforceability of the remaining provisions of this Agreement are not affected or impaired in any way; and

	  	  	  	  
	  	  	
(b)

	
the parties shall negotiate in good faith in an attempt to agree to another provision (instead of the provision held to be invalid, illegal or unenforceable) that is valid, legal and enforceable and carries out the parties’ intentions to the greatest lawful extent under this Agreement.

 

  

3

  

 

	  	
11.

	
Assignments and Delegations:

	  	  	  	  
	  	  	
(a)

	
No Assignments By Consultant. The Consultant may not assign any of its rights or delegate any performance under this Agreement except with the prior written consent of the Company. The Company may withhold consent for any or no reason in its sole and absolute discretion. All assignments of rights are prohibited under this subsection, whether they are voluntary or involuntary, by merger, consolidation, dissolution, operation of law, or any other manner.

	  	  	  	  
	  	  	
(b)

	
No Delegations By Consultant. The Consultant may not delegate any performance under this Agreement.

	  	  	  	  
	  	  	
(c)

	
Ramifications of Purported Assignment or Delegation. Any purported assignment of rights or delegation of performance in violation of this Section is void.

	  	  	  	  
	  	
12.

	
Choice of Law: The laws of the State of Texas govern all matters arising out of or relating to this Agreement, including, without limitation, its interpretation, construction, performance, and enforcement.

	  	  	  	  
	  	
13.

	
Designation of Forum: Any party bringing a legal action or proceeding against any other party arising out of or relating to this Agreement may bring the legal action or proceeding in the United States District Court for the North District of Texas or in any court of the State of Texas sitting in Denton County.

	  	  	  	  
	  	
14.

	
Waiver of Right to Contest Jurisdiction: Each party waives, to the fullest extent permitted by law,

	  	  	  	  
	  	  	
(a)

	
any objection which it may now or later have to the laying of venue of any legal action or proceeding arising out of or relating to this Agreement brought in any court of the State of Texas sitting in Denton County, or the United States District Court for the North District of Texas; and

	  	  	  	  
	  	  	
(b)

	
any claim that any action or proceeding brought in any such court has been brought in an inconvenient forum.

	  	  	  	  
	  	
15.

	
Submission to Jurisdiction: Each party to this Agreement submits to the nonexclusive jurisdiction of

	  	  	  	  
	  	  	
(a)

	
the United States District Court for the North District of Texas and its appellate courts, and

	  	  	  	  
	  	  	
(b)

	
any court of the State of Texas sitting in Denton County and its appellate courts, for the purposes of all legal actions and proceedings arising out of or relating to this Agreement.

	  	  	  	  
	  	
16.

	
Complete Agreement: This Agreement constitutes the final agreement between the parties. It is the complete and exclusive expression of the parties’ agreement on the matters contained in this Agreement. All prior and contemporaneous negotiations and agreements between the parties on the matters contained in this Agreement are expressly merged into and superseded by this Agreement. The provisions of this Agreement may not be explained, supplemented, or qualified through evidence of trade usage or a prior course of dealings. In entering into this Agreement, neither party has relied upon any statement, representation, warranty, or agreement of the other party except for those expressly contained in this Agreement. There are no conditions precedent to the effectiveness of this Agreement other than those expressly stated in this Agreement.

 

  

4

  

 

	  	
17.

	
Amendments: The parties may amend this Agreement only by a written agreement of the parties that identifies itself as an amendment to this Agreement.

	  	  	  	  
	  	
18.

	
Miscellaneous:

	  	  	  	  
	  	  	
(a)

	
All final decisions with the respect to consultation, advice and services rendered by the Consultant to the Company shall rest exclusively with the Company, and the Consultant shall not have any right or authority to bind the Company to any obligation or commitment.

	  	  	  	  
	  	  	
(b)

	
The Consultant shall render the services pursuant to this agreement in compliance with the rules and policies of the NASDAQ, or such other stock exchange as the Company’s shares may be listed on from time to time.

Agreed and accepted on April 29, 2012 by and between:

	
CareView Communications, Inc.

	  	
Heartland Energy Partners, LLC

	  	  	  
	
/s/Steven Johnson

	  	
/s/John English

	
Steve Johnson, President

	  	
John English, Managing Member

 

 

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