Document:

maxr_ex10-2

		

			 

		

		
			Exhibit 10.2
		

		
			 
		

		
			MAXAR TECHNOLOGIES INC.
		

		
			EXECUTIVE CHANGE IN CONTROL AND SEVERANCE AGREEMENT
		

		
			This Executive Change in Control and Severance Agreement (the “Agreement”) is made and entered into by and between [____________]  (“Executive”) and Maxar Technologies Inc. (the “Company”), effective as of [______], 2020 (the “Effective Date”).
		

		
			Background
		

		
			A.          The Board of Directors of the Company (the “Board”) recognizes that the possibility of an acquisition of the Company or an involuntary termination can be a distraction to Executive and can cause Executive to consider alternative employment opportunities.  The Board has determined that it is in the best interests of the Company and its stockholders to assure that the Company will have the continued dedication and objectivity of Executive, notwithstanding the possibility, threat or occurrence of such an event.
		

		
			B.          The Board believes that it is in the best interests of the Company and its stockholders to provide Executive with an incentive to continue Executive’s employment and to motivate Executive to maximize the value of the Company upon a Change in Control (as defined below) for the benefit of its stockholders.
		

		
			C.          The Board believes that it is imperative to provide Executive with severance benefits upon certain terminations of Executive’s service to the Company that enhance Executive’s financial security and provide incentive and encouragement to Executive to remain with the Company notwithstanding the possibility of such an event.
		

		
			D.          Unless otherwise defined herein, capitalized terms used in this Agreement are defined in Section 9 below.
		

		
			Agreement
		

		
			The parties hereto agree as follows:
		

		
			1.          Term of Agreement.  This Agreement shall become effective as of the Effective Date and terminate upon the date that all obligations of the parties hereto with respect to this Agreement have been satisfied.
		

		
			2.          At-Will Employment.  The Company and Executive acknowledge that Executive’s employment is and shall continue to be “at-will,” as defined under applicable law.  Except as provided in Section 7 below, if Executive’s employment terminates for any reason, Executive shall not be entitled to any severance payments, benefits or compensation other than as provided in this Agreement.
		

		
			3.          Covered Termination Outside a Change in Control Period.  If Executive experiences a Covered Termination outside a Change in Control Period, then, subject to (i)  Executive delivering to the Company an executed general release of all claims against the Company and its affiliates in substantially the form attached as Exhibit A hereto (a “Release of Claims”) that becomes effective and irrevocable in accordance with Section 14(a)(v) below and (ii) Executive’s continued compliance with Section 12 below, then in addition to any accrued but unpaid salary, benefits, vacation and expense reimbursements through the
		

		
			 
		

		
			 
		

		
			

		 

		

			 

		

		

			 

		

		

		
			 
		

		
			Termination Date payable in accordance with applicable law, the Company shall provide Executive with the following:
		

		
			(a)         Severance.  Executive shall be entitled to receive an amount equal to eighteen (18) months of Executive’s annual base salary (disregarding any reduction in such base salary that gives rise to Good Reason) (the “Non-CIC Cash Severance”),  payable, less applicable withholdings and deductions, in the form of salary continuation in regular installments over the eighteen (18)-month period following the Termination Date in accordance with the Company’s normal payroll practices with the first of such installments to commence on the first regular payroll date following the date the Release of Claims becomes effective and irrevocable and with the first installment to include any amount that would have been paid had the Release of Claims been effective and irrevocable on the Termination Date, or as otherwise provided in Section 14 below.
		

		
			(b)         Healthcare Premium Payment.  Subject to the Executive’s eligibility to elect continued healthcare coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) as of the Termination Date, Executive shall be entitled to receive a lump sum payment equal to eighteen (18) multiplied by the full monthly premium that Executive would have to pay for continued healthcare coverage under COBRA at the rate in effect as of the Termination Date and based on Executive’s election as of the Termination Date, payable, less applicable withholdings, on the first payroll date following the date the Release of Claims becomes effective and irrevocable in accordance with Section 14(a)(v) below, or as otherwise provided in Section 14 below.
		

		
			(c)         Outplacement.  Executive shall be entitled to receive the “executive package” (or similar services as determined in the Company’s sole discretion) of outplacement services at the Company’s cost through an outplacement firm designated by the Company.
		

		
			4.          Covered Termination During a Change in Control Period.  If Executive experiences a Covered Termination during a Change in Control Period, then, subject to (i)  Executive delivering to the Company an executed Release of Claims that becomes effective and irrevocable in accordance with Section 14(a)(v) below and (ii) Executive’s continued compliance with Section 12 below, then in addition to any accrued but unpaid salary, benefits, vacation and expense reimbursements through the Termination Date payable in accordance with applicable law, the Company shall provide Executive with the following:
		

		
			(a)   Severance.  Executive shall be entitled to receive an amount equal to two (2) times the sum of (i)  Executive’s annual base salary at the rate in effect immediately prior to the Termination Date (disregarding any reduction in such base salary that gives rise to Good Reason) and (ii) Executive’s target annual bonus, payable in a cash lump sum, less applicable withholdings (the “Change in Control Severance”), on the first payroll date following the date the Release of Claims becomes effective and irrevocable in accordance with Section 14(a)(v) below or as otherwise provided in Section 14 below; provided, that, if the Covered Termination occurs during the Three Month Period (as defined below), the amount of the Change in Control Severance equal to the Non-CIC Severance shall be paid over the same time period as the Non-CIC Severance would have been paid, and any amount of the Change in Control Severance in excess of the Non-CIC Severance shall be paid in a single lump sum cash payment as described above.
		

		
			(b)   Healthcare Premium Payment.  Subject to the Executive’s eligibility to elect continued healthcare coverage under COBRA as of the Termination Date,  Executive shall be entitled to receive a lump sum payment equal to twenty-four (24) multiplied by the full monthly premium that Executive would have to pay for continued healthcare coverage under COBRA at the rate in effect as of the Termination Date and based on Executive’s election as of the Termination Date, payable, less applicable withholdings, on
		

		
			
		

		
			

		 

		

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			the first payroll date following the date the Release of Claims becomes effective and irrevocable in accordance with Section 14(a)(v) below or as otherwise provided in Section 14 below.
		

		
			(c)   Outplacement.  Executive shall be entitled to receive the “executive package” (or similar services as determined in the Company’s sole discretion) of outplacement services at the Company’s cost through an outplacement firm designated by the Company.
		

		
			(d)   Equity Awards.  Each outstanding and unvested equity award, including, without limitation, each restricted stock, stock option, restricted stock unit, performance stock unit, and stock appreciation right, held by Executive shall automatically become vested and, if applicable, exercisable and any forfeiture restrictions or rights of repurchase thereon shall immediately lapse with respect to one hundred percent (100%) of the shares subject thereto, as of immediately prior to the Termination Date.  Except to the extent otherwise specified in an applicable award agreement, which provision in the applicable award agreement shall control, for purposes of this Section 4(d) each award subject to performance-based vesting will be deemed earned at the greater of (i)  pro-rated target based on the number of days elapsed through the Termination Date or (ii) actual achievement measured as of the Termination Date (to the extent then measurable).
		

		
			5.          Certain Reductions.  Notwithstanding anything herein to the contrary, the Company shall reduce Executive’s severance benefits under this Agreement, in whole or in part, by any other severance benefits, pay in lieu of notice, or other similar benefits payable to Executive by the Company in connection with Executive’s termination, including but not limited to payments or benefits pursuant to (a) any applicable legal requirement, including, without limitation, the Worker Adjustment and Retraining Notification Act, or (b) any other Company agreement, arrangement, policy or practice relating to Executive’s termination of employment with the Company.  The benefits provided under this Agreement are intended to satisfy, to the greatest extent possible, any and all statutory obligations that may arise out of Executive’s termination of employment.  Such reductions shall be applied on a retroactive basis, with severance benefits paid first in time being recharacterized as payments pursuant to the Company’s statutory obligation.
		

		
			6.          Deemed Resignation.  Upon termination of Executive’s service for any reason, Executive shall be deemed to have resigned from all offices and directorships, if any, then held with the Company or any of its affiliates, and, at the Company’s request, Executive shall execute such documents as are necessary or desirable to effectuate such resignations.
		

		
			7.          Other Terminations.  If Executive’s employment with the Company terminates for any reason other than due to a Covered Termination, then Executive shall not be entitled to any benefits hereunder other than accrued but unpaid salary, vacation and expense reimbursements through the Termination Date in accordance with applicable law and to elect any continued healthcare coverage as may be required under COBRA or similar state law.
		

		
			8.          Limitation on Payments.  Notwithstanding anything in this Agreement to the contrary, if any payment or distribution Executive would receive pursuant to this Agreement or otherwise (“Payment”) would (a) constitute a “parachute payment” within the meaning of Section 280G of the Code and (b) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall either be (i) delivered in full, or (ii) delivered as to such lesser extent which would result in no portion of such Payment being subject to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the Excise Tax, results in the receipt by Executive on an after-tax basis, of the largest payment, notwithstanding that all or some portion the Payment may be taxable under Section 4999 of the Code.  The Company will select an adviser with experience in performing calculations regarding the applicability of Section 280G of the Code and the Excise Tax,
		

		
			
		

		
			

		 

		

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			provided, that the adviser’s determination shall be made based upon “substantial authority” within the meaning of Section 6662 of the Code to perform the foregoing calculations.  The Company shall bear all expenses with respect to the determinations by such adviser required to be made hereunder.  The adviser shall provide its calculations to the Company and Executive within fifteen (15) calendar days after the date on which Executive’s right to a Payment is triggered (if requested at that time by the Company or Executive) or such other time as requested by the Company.  Any good faith determinations of the adviser made hereunder shall be final, binding and conclusive upon the Company and Executive.  Any reduction in payments or benefits pursuant to this Section 8 will occur in the following order: (1) reduction of cash payments; (2) cancellation of accelerated vesting of equity awards other than stock options; (3) cancellation of accelerated vesting of stock options; and (4) reduction of other benefits payable to Executive.
		

		
			9.          Definitions.  The following terms used in this Agreement shall have the following meanings:
		

		
			(a)         “Cause”  means: (i) Executive’s conviction of a felony or a crime involving fraud or moral turpitude; (ii) Executive’s theft, material act of dishonesty or fraud, or intentional falsification of any employment or Company records; (iii) Executive’s intentional or reckless conduct or gross negligence materially harmful to the Company or the successor to the Company after a Change in Control, including violation of a non-competition, confidentiality or other material agreement with the Company or such successor or material violation of any Company policy or the Company’s Code of Conduct; (iv) Executive’s willful failure to follow lawful instructions of the Company; or (v) Executive’s gross negligence or willful misconduct in the performance of Executive’s assigned duties.
		

		
			(b)         “Change in Control”  has the meaning ascribed to such term under the Company’s 2019 Incentive Award Plan, as may be amended from time to time;  provided, that to the extent required to avoid the imposition of additional taxes under Section 409A, such transaction must also constitute a “change in control event” within the meaning of Treasury Regulation Section 1.409A-3(i)(5).
		

		
			(c)         “Change in Control Period” means the period of time commencing three months before a Change in Control (the “Three Month Period”) and ending on the second annual anniversary of such Change in Control.
		

		
			(d)         “Covered Termination”  means  the termination of Executive’s employment (i)  by the Company other than for Cause,  or (ii) by Executive for Good Reason;  and shall not include a termination due to Executive’s death or disability.
		

		
			(e)         “Good Reason”  means any one of the following actions taken by the Company without Executive’s express written consent: (i) (a) outside of the Change in Control Period, a reduction in Executive’s base salary or target annual bonus opportunity, in each case, of more than five percent (5%), except where the same or a substantially similar percentage reduction in base salary or target bonus applies consistently to other employees at the level of Vice President and above as part of a broader compensation reduction; or (b) within the Change in Control Period, a reduction in Executive’s total target compensation of more than five percent (5%), where the long-term incentive component of total target compensation shall be calculated based on Executive’s average annual long-term incentive opportunity for the three fiscal years prior to the Change in Control (or such lesser period since the commencement of Executive’s employment);  (ii) a material diminution in Executive’s title, duties, authorities, reporting or responsibilities; (iii) the relocation of Executive’s primary work location to a facility or location that increases Executive’s one-way commute by more than 35 miles from Executive’s primary work location as of immediately prior to such change; or (iv) failure of any successor to the Company to expressly agree to assume and honor the terms of this Agreement, provided, that an action shall not constitute Good Reason unless (1) Executive first provides the Company with written notice of the condition giving rise to Good Reason within 60 days of Executive’s
		

		
			
		

		
			

		 

		

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			knowledge of its initial occurrence, (2) the Company or the successor company fails to cure such condition within 30 days after receiving such written notice (the “Cure Period”), and (3) Executive’s resignation based on such Good Reason is effective within 30 days after the expiration of the Cure Period.
		

		
			(f)         “Termination Date” means the date on which Executive experiences a Covered Termination.
		

		
			10.        Successors.
		

		
			(a)         Company’s Successors.  Any successor to the Company (whether direct or indirect and whether by purchase, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company’s business or assets shall assume the obligations under this Agreement and agree expressly to perform the obligations under this Agreement in the same manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession.  For all purposes under this Agreement, the term “Company” shall include any successor to the Company’s business or assets which executes and delivers the assumption agreement described in this Section 10(a) or which becomes bound by the terms of this Agreement by operation of law.
		

		
			(b)         Executive’s Successors.  The terms of this Agreement and all rights of Executive hereunder shall inure to the benefit of, and be enforceable by, Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees.
		

		
			11.        Notices.  Any notices provided hereunder must be in writing and shall be deemed effective upon the earlier of personal delivery (including personal delivery by facsimile), delivery by email or the third day after mailing by first class mail, to the Chief Human Resources Officer of the Company at the Company’s primary office location and to Executive at Executive’s address as listed in the Company’s books and records.
		

		
			12.        Restrictive Covenants.
		

		
			(a)         Restrictive Covenants.  Executive hereby expressly confirms Executive’s continuing obligations to the Company pursuant to the confidentiality provisions of the Company’s Code of Conduct, the Employee Proprietary Information, Invention and Non-Competition Agreement and/or other agreements regarding non-competition, non-solicitation, non-disparagement, confidentiality, assignment of inventions or other similar covenants between the Company and Executive (the “Restrictive Covenants”).  In addition, without limiting the foregoing, Executive agrees as follows:
		

		
			(i)          During Executive’s employment, Executive will acquire, learn, or receive proprietary and confidential information about or belonging to the Company, which includes without limitation information concerning customers and prospective customers, employees and other service providers, suppliers and vendors, contact lists, research and development, business plans and proposals, business strategies, financial statements, budgets, licenses, legal matters, sales and marketing methods, trade secrets, contract terms, purchase history, prices and costs, inventions, ideas, processes, formulas, data, programs, other works of authorship, know-how, improvements, discoveries, developments, designs, techniques, and other proprietary or confidential information of the Company or other third parties who entrusted such information to the Company (“Confidential Information”); provided, however, Confidential Information does not include information that (A) is or becomes known to the public, other than as a result of Executive’s disclosure in violation of this Agreement or of any other person’s breach of a legal or contractual obligation to the Company, or (B) was demonstrably known by Executive prior to Executive’s employment with the Company and not as a result of anyone else’s breach of a legal or contractual obligation.
		

		
			
		

		
			

		 

		

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			(ii)         Executive recognizes and acknowledges that (A) the Confidential Information is a valuable, special and unique asset of the Company; (B) disclosure of the Confidential Information to any other person or entity outside the Company, or use of the Confidential Information for the benefit of any other person or entity, unless specifically and unambiguously authorized by Company, would result in irreparable harm to the Company; and (C) the Confidential Information is and shall remain the exclusive property of the Company.
		

		
			(iii)       In consideration for the benefits provided herein, at all times prior to and following the Termination Date, Executive shall not disclose such Confidential Information to any person, firm, corporation, association or other entity for any reason or purpose whatsoever. Executive agrees to not use any Confidential Information for Executive’s own purpose or for the benefit of any other person, firm, corporation or other entity.
		

		
			(iv)        Executive shall not, for a period of twelve months (12) months following the Termination Date (the “Restricted Period”), either on Executive’s own account or jointly with or as a manager, agent, officer, employee, consultant, partner, joint venturer, owner or stockholder or otherwise on behalf of any other person, firm or corporation, directly or indirectly (A) cause or attempt to cause any customer or prospective customer to cease doing business with the Company or to alter or terminate his, her, or its relationship with the Company, or solicit or offer to supply to any customer any service or product that is similar to any service or product provided by the Company; or (B) solicit or attempt to solicit away from the Company any of its officers or employees or otherwise encourage such officers or employees to terminate their employment relationship with the Company; provided, however, that a general advertisement to which an officer or employee of the Company responds shall in no event be deemed to result in a breach of this subsection (iv).
		

		
			(v)         Executive agrees that Executive shall not disparage, criticize or defame the Company, its affiliates and their respective affiliates, directors, officers, agents, partners, stockholders, employees, products, services, technology or business, either publicly or privately.  The Company agrees that it shall not, and shall instruct its officers and directors to not, disparage, criticize or defame Executive, either publicly or privately.  Nothing in this subsection (v) shall have application to any evidence or testimony required by any court, arbitrator or government agency.
		

		
			(b)         Whistleblower Protections and Trade Secrets.  Notwithstanding anything to the contrary contained herein, nothing in this Agreement or the Restrictive Covenants prohibits Executive from reporting possible violations of federal law or regulation to any United States governmental agency or entity in accordance with the provisions of and rules promulgated under Section 21F of the Securities Exchange Act of 1934 or Section 806 of the Sarbanes-Oxley Act of 2002, or any other whistleblower protection provisions of state or federal law or regulation (including the right to receive an award for information provided to any such government agencies).  Furthermore, in accordance with 18 U.S.C. § 1833, notwithstanding anything to the contrary in this Agreement: (i)  Executive shall not be in breach of this Agreement, and shall not be held criminally or civilly liable under any federal or state trade secret law (A) for the disclosure of a trade secret that is made in confidence to a federal, state, or local government official or to an attorney solely for the purpose of reporting or investigating a suspected violation of law, or (B) for the disclosure of a trade secret that is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal; and (ii) if Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law, Executive may disclose the trade secret to Executive’s attorney, and may use the trade secret information in the court proceeding, if Executive files any document containing the trade secret under seal, and does not disclose the trade secret, except pursuant to court order.
		

		
			
		

		
			

		 

		

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			13.        Dispute Resolution.  To ensure the timely and economical resolution of disputes that arise in connection with this Agreement, Executive and the Company agree that, except as excluded herein, any and all controversies, claims and disputes arising out of or relating to this Agreement, including without limitation any alleged violation of its terms or otherwise arising out of the parties’ relationship, shall be resolved solely and exclusively by final and binding arbitration held in Denver, Colorado through JAMS in conformity with the then-existing JAMS employment arbitration rules, which can be found at https://www.jamsadr.com/rules-employment-arbitration/. The arbitration provisions of this Agreement shall be governed by and enforceable pursuant to the Federal Arbitration Act.  In all other respects for provisions not governed by the Federal Arbitration Act, this Agreement shall be construed in accordance with the laws of the State of Colorado, without reference to conflicts of law principles. All remedies available from a court of competent jurisdiction shall be available in the arbitration; provided, however, in the event of a breach of Section 12, the Company may request relief from a court of competent jurisdiction if such relief is not available or not available in a timely fashion through arbitration as determined by the Company. The arbitrator shall: (a) provide adequate discovery for the resolution of the dispute; and (b) issue a written arbitration decision, to include the arbitrator’s essential findings and conclusions and a statement of the award.  The arbitrator shall award the prevailing party attorneys’ fees and expert fees, if any.  Notwithstanding the foregoing, it is acknowledged that it will be impossible to measure in money the damages that would be suffered if the parties fail to comply with any of the obligations imposed on them under Section 12, and that in the event of any such failure, an aggrieved person will be irreparably damaged and will not have an adequate remedy at law.  Any such person shall, therefore, be entitled to seek injunctive relief, including specific performance, to enforce such obligations, and if any action shall be brought in equity to enforce any of the provisions of Section 12, none of the parties shall raise the defense, without a good faith basis for raising such defense, that there is an adequate remedy at law.  Executive and the Company understand that by agreement to arbitrate any claim pursuant to this Section 13, they will not have the right to have any claim decided by a jury or a court, but shall instead have any claim decided through arbitration.  Executive and the Company waive any constitutional or other right to bring claims covered by this Agreement other than in their individual capacities.  Except as may be prohibited by applicable law, the foregoing waiver includes the ability to assert claims as a plaintiff or class member in any purported class or collective action or representative proceeding. Nothing herein shall limit Executive’s ability to pursue claims for workers compensation or unemployment benefits or pursue other claims which by law cannot be subject to mandatory arbitration.
		

		
			14.        Miscellaneous Provisions.
		

		
			(a)         Section 409A.
		

		
			(i)          Separation from Service.  Notwithstanding any provision to the contrary in this Agreement, no amount constituting deferred compensation subject to Section 409A of the Code shall be payable pursuant to Sections 3 or 4 above unless Executive’s termination of employment constitutes a “separation from service” with the Company within the meaning of Section 409A of the Code and the Department of Treasury regulations and other guidance promulgated thereunder (a “Separation from Service”).
		

		
			(ii)         Specified Employee.  Notwithstanding any provision to the contrary in this Agreement, if Executive is deemed at the time of Executive’s Separation from Service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, to the extent delayed commencement of any portion of the benefits to which Executive is entitled under this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, such portion of Executive’s benefits shall not be provided to Executive prior to the earlier of (A) the expiration of the six-month period measured from the date of Executive’s Separation from Service or (B) the date of Executive’s death.  Upon the first business day following the expiration of the applicable Code Section 409A(a)(2)(B)(i) period, all payments deferred
		

		
			
		

		
			

		 

		

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			pursuant to this Section 14(a)(ii) shall be paid in a lump sum to Executive, and any remaining payments due under this Agreement shall be paid as otherwise provided herein.
		

		
			(iii)       Expense Reimbursements and In-Kind Benefits.  To the extent that any reimbursements or in-kind benefits provided pursuant to this Agreement are subject to the provisions of Section 409A of the Code, any such reimbursements payable to Executive pursuant to this Agreement shall be paid to Executive no later than December 31 of the year following the year in which the expense was incurred, the amount of expenses reimbursed or in-kind benefits provided in one year shall not affect the amount eligible for reimbursement  or in-kind benefits to be provided in any subsequent year, and Executive’s right to reimbursement or in-kind benefits under this Agreement will not be subject to liquidation or exchange for another benefit.
		

		
			(iv)        Installments.  For purposes of Section 409A of the Code (including, without limitation, for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)), Executive’s right to receive any installment payments under this Agreement shall be treated as a right to receive a series of separate payments and, accordingly, each such installment payment shall at all times be considered a separate and distinct payment.
		

		
			(v)          Release.  Notwithstanding anything to the contrary in this Agreement, to the extent that any payments due under this Agreement as a result of Executive’s termination of employment are subject to Executive’s execution and delivery of a Release of Claims, (A) if Executive fails to execute the Release of Claims on or prior to the Release Expiration Date (as defined below) or timely revokes Executive’s acceptance of the Release of Claims thereafter, Executive shall not be entitled to any payments or benefits otherwise conditioned on the Release of Claims, and (B) in any case where Executive’s Termination Date and the last day the Release of Claims may be considered or, if applicable, revoked fall in two separate taxable years, any payments required to be made to Executive that are conditioned on the Release of Claims and are treated as nonqualified deferred compensation for purposes of Section 409A of the Code shall be made in the later taxable year.  For purposes hereof, “Release Expiration Date” shall mean (1) if Executive is under 40 years old as of the Termination Date, the date that is seven (7) days following the date upon which the Company timely delivers the Release of Claims to Executive, or such shorter time prescribed by the Company, and (2) if Executive is 40 years or older as of the Termination Date, the date that is twenty one (21) days following the date upon which the Company timely delivers the Release of Claims to Executive, or, if Executive’s termination of employment is “in connection with an exit incentive or other employment termination program” (as such phrase is defined in the Age Discrimination in Employment Act of 1967), the date that is forty five (45) days following such delivery date.  To the extent that any payments of nonqualified deferred compensation (within the meaning of Section 409A) due under this Agreement as a result of Executive’s termination of employment are delayed pursuant to this Section 14(a)(v), such amounts shall be paid in a lump sum on the first payroll date following the date the Release of Claims becomes effective and irrevocable or, in the case of any payments subject to Section 14(a)(v)(C), on the first payroll date to occur in the subsequent taxable year, if later.
		

		
			(b)       Forfeiture and Repayment of Benefits.  In the event that, within two years following Termination Date, the Company determines that during Executive’s employment with the Company, Executive engaged in conduct that would have constituted Cause for termination, (i) the Company shall have no further obligations under Sections 3 or 4 and Executive shall repay the Company any amounts previously paid by the Company pursuant to Sections 3 or 4; and (ii) all shares held by Executive that were subject to equity awards that became vested pursuant to Section 4 shall be automatically forfeited, and Executive shall pay the Company an amount equal to all proceeds received in connection with any sale or other disposition of any such shares.
		

		
			
		

		
			

		 

		

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			(c)         Withholding.  The Company shall be entitled to withhold from any amounts payable under this Agreement any federal, state, local, or foreign withholding or other taxes or charges which the Company is required to withhold.
		

		
			(d)         Waiver.  No provision of this Agreement shall be modified, waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by Executive and by an authorized member of the Company (other than Executive).  No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.
		

		
			(e)         Whole Agreement.  This Agreement, the Restrictive Covenants and any indemnification agreement between Executive and the Company represent the entire understanding of the parties hereto with respect to the subject matter hereof and supersede all prior promises, arrangements and understandings regarding the same, whether written or unwritten, including, without limitation, any severance protection agreement or severance letter and any severance or change in control benefits in Executive’s offer letter agreement, employment term sheet, employment agreement and/or equity award agreement or previously approved by the Company.
		

		
			(f)         Choice of Law.  All questions concerning the construction, validity and interpretation of this Agreement will be governed by the laws of the State of Colorado without regard to its conflicts of law provisions.
		

		
			(g)         Severability.  Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity or unenforceability will not affect any other provision or any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid or unenforceable provisions had never been contained herein.
		

		
			(h)         Counterparts.  This Agreement may be executed in separate counterparts, any one of which need not contain signatures of more than one party, but all of which taken together will constitute one and the same Agreement.
		

		
			(i)          Executive Acknowledgement.  Executive acknowledges that (i)  Executive has consulted with or has had the opportunity to consult with independent counsel of Executive’s own choice concerning this Agreement, and has been advised to do so by the Company, and (ii) that Executive has read and understands the Agreement, is fully aware of its legal effect, and has entered into it freely based on Executive’s own judgment.
		

		
			(Signature page follows)
		

		
			 
		

		
			
		

		
			

		 

		

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			The parties have executed this Agreement, in the case of the Company by its duly authorized officer, as of the dates set forth below.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						MAXAR TECHNOLOGIES INC.

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Title:

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Date:

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						EXECUTIVE

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						[Name]

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Date:

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			

		 

		

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			Exhibit A
		

		
			RELEASE OF CLAIMS
		

		
			This Release of Claims (“Release”) is entered into as of _________________, 20__, between [__________] (“Executive”) and Maxar Technologies Inc., a Delaware corporation (the “Company” and, together with Executive, the “Parties”), effective eight days after Executive’s signature hereto (the “Effective Date”), unless Executive revokes Executive’s acceptance of this Release as provided in Paragraph 1(c), below.
		

		
			1.           Executive’s Release of the Company.  Executive agrees not to sue, or otherwise file any claim against, the Company or its parent companies, subsidiaries or affiliates, and any of their respective successors, assigns, directors, officers, managers, employees, attorneys, insurers, or agents, each in their respective capacities as such (collectively, the “Company Parties”), for any reason whatsoever based on anything that has occurred at any time up to and including the  execution date of this Release as follows:
		

		
			(a)         On behalf of Executive and Executive’s executors, administrators, heirs and assigns, Executive hereby releases and forever discharges the Company Parties, and all persons acting by, through, under or in concert with them, or any of them, of and from any and all manner of action or actions, cause or causes of action, in law or in equity, suits, debts, liens, contracts, agreements, promises, liability, claims, demands, damages, loss, cost or expense, of any nature whatsoever, known or unknown, fixed or contingent (hereinafter called “Claims”), which Executive now has or may hereafter have against any of the Company Parties by reason of any matter, cause, or thing whatsoever from the beginning of time through and including the execution date of this Release, including, without limiting the generality of the foregoing: any Claims arising directly or indirectly out of, relating to, or in any other way involving in any manner whatsoever Executive’s employment by the Company or the separation thereof, including without limitation any and all Claims arising under federal, state, or local laws relating to employment; any Claims of any kind that may be brought in any court or administrative agency; any Claims arising under the Age Discrimination in Employment Act, the Older Workers Benefits Protection Act, the Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Equal Pay Act, the Civil Rights Act of 1866, Section 1981, 42 U.S.C. § 1981, the Family and Medical Leave Act of 1993, the Americans with Disabilities Act of 1990, the False Claims Act, the Employee Retirement Income Security Act, the Worker Adjustment and Retraining Notification Act, the Fair Labor Standards Act, the Sarbanes-Oxley Act of 2002, the National Labor Relations Act of 1935, the Uniformed Services Employment and Reemployment Rights Act of 1994, Fair Credit Reporting Act,  Colorado Anti-Discrimination Act, Colorado Family Care Act, Colorado Wage Equality Regardless of Sex Act, Colorado Wage Transparency Act, Colorado military leave law, and Colorado payment of wages law, each of the foregoing as may have been amended, and any other federal, state, or local statute, regulation, ordinance, constitution, or order concerning labor or employment, termination of labor or employment, wages and benefits, retaliation, leaves of absence, or any other term or condition of employment; Claims for breach of contract; Claims for unfair business practices; Claims arising in tort, including, without limitation, Claims of wrongful dismissal or discharge, discrimination, harassment, retaliation, fraud, misrepresentation, defamation, libel, infliction of emotional distress, violation of public policy, and/or breach of the implied covenant of good faith and fair dealing; and Claims for damages or other remedies of any sort, including, without limitation, compensatory damages, punitive damages, injunctive relief and attorney’s fees.
		

		
			
		

		
			

		 

		

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			(b)         Notwithstanding the generality of the foregoing, Executive does not release any Claims that cannot be released as a matter of law including, without limitation, (i) Executive’s right to file for unemployment insurance benefits under state law; (ii) Executive’s right to file a charge of discrimination, harassment, interference with leave rights, failure to accommodate, or retaliation with the Equal Employment Opportunity Commission, the Colorado Civil Rights Division or similar local agency, or to cooperate with or participate in any investigation conducted by such agency; provided, however, that Executive hereby releases Executive’s right to receive damages in any such proceeding brought by Executive or on Executive’s behalf, (iii) Executive’s right to communicate directly with the U.S. Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, the U.S. Department of Justice or similar agency, or to cooperate with or participate in any investigation by such agency; or (iv) Executive’s right to make any disclosure that are protected under the whistleblower provisions of applicable law.  For the avoidance of doubt, Executive does not need to notify or obtain the prior authorization of the Company to exercise any of the foregoing rights.  Furthermore, Executive does not release hereby any rights that he may have relating to (i) indemnification by the Company or its affiliates under any indemnification agreement with the Company, the Company’s Bylaws or any applicable law; (ii) coverage under any applicable directors’ and officers’ or other third-party liability insurance; (iii) Executive’s vested accrued benefits under the Company’s respective benefits and compensation plans; and (iv) any severance payment entitlements to which Executive is specifically entitled to as of the date of termination pursuant to the Executive Change in Control Severance Agreement between the Company and Executive (the “Severance Agreement”).
		

		
			(c)         Executive acknowledges that the General Release of Claims set forth in Section 1(a) above includes a release of Claims under the Age Discrimination in Employment Act (the “ADEA Release”). In accordance with the Older Workers Benefit Protection Act, Executive acknowledge as follows:
		

		
			(i)          Executive has been advised to consult an attorney of Executive’s choice before signing this Release and Executive either has so consulted with counsel or voluntarily decided not to consult with counsel;
		

		
			(ii)         Executive has been granted [twenty-one (21)] [forty-five (45)]1 days after Executive is presented with this Release to decide whether or not to sign it. Executive agrees that such period shall not be extended due to any material or immaterial changes to the Release. If Executive executes this Release prior to the expiration of such period, Executive does so voluntarily and after having had the opportunity to consult with an attorney, and hereby waive the remainder of the [twenty-one (21)] [forty-five (45)] day period;
		

		
			(iii)       Executive has carefully reviewed and considered and fully understands the terms set forth in this Release, including all exhibits hereto; and
		

		
			(iv)        Executive has the right to revoke Executive’s ADEA Release within seven (7) calendar days of signing this Release. If Executive wishes to revoke Executive’s ADEA Release, Executive must deliver written notice stating Executive’s intent to so revoke to [Insert Name], Global HR Operations, Maxar, at 1300 W. 120th Avenue
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		
			1         NTD: To be 45 days for a group termination and 21 days for a non-group termination.
		

		
			
		

		
			

		 

		

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			Westminster, CO 80234, on or before 5:00 p.m. on the seventh (7th) day after the date on which Executive signs this Release.
		

		
			2.           Executive Representations.  Executive represents and warrants that:
		

		
			(a)         Executive has returned to the Company all Company property in Executive’s possession (other than any property that the Company has specifically permitted the Executive to keep following his termination date in writing), including without limitation, any cell phone, laptop computer or tablet;
		

		
			(b)         Executive is not owed wages, commissions, bonuses or other compensation, other than wages through the date of the termination of Executive’s employment and any accrued, unused vacation earned through such date, other than as set forth in the Severance Agreement;
		

		
			(c)         During the course of Executive’s employment Executive did not sustain any injuries for which Executive might be entitled to compensation pursuant to worker’s compensation law or Executive has disclosed any injuries of which Executive is currently, reasonably aware for which Executive might be entitled to compensation pursuant to worker’s compensation law; and
		

		
			(d)         Executive has not initiated any adversarial proceedings of any kind against the Company or, in their capacities as such, against any other person or entity released herein, nor will Executive do so in the future, except as specifically allowed by this Release.
		

		
			3.           Restrictive Covenants; Cooperation.  Executive reaffirms Executive’s continuing obligations under Section 12 of the Severance Agreement.  In addition, Executive shall cooperate with the Company and its affiliates, upon the Company’s reasonable request, with respect to any internal investigation or administrative, regulatory or judicial proceeding involving matters within the scope of Executive’s duties and responsibilities to the Company or its affiliates during Executive’s employment with the Company (including, without limitation, Executive being available to the Company upon reasonable notice for interviews and factual investigations, appearing at the Company’s reasonable request to give testimony without requiring service of a subpoena or other legal process, and turning over to the Company all relevant Company documents which are or may have come into Executive’s possession during his employment); provided,  however, that any such request by the Company shall not be unduly burdensome or interfere with Executive’s personal schedule or ability to engage in gainful employment.
		

		
			4.           Severability.  The provisions of this Release are severable.  If any provision is held to be invalid or unenforceable, it shall not affect the validity or enforceability of any other provision.
		

		
			5.           Choice of Law.  This Release shall in all respects be governed and construed in accordance with the laws of the State of Colorado, including all matters of construction, validity and performance, without regard to conflicts of law principles.
		

		
			6.           Integration Clause.  This Release, and the Severance Agreement contain the Parties’ entire agreement with regard to the separation of Executive’s employment, and supersede and replace any prior agreements as to those matters, whether oral or written. This Release may not be
		

		
			
		

		
			

		 

		

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			changed or modified, in whole or in part, except by an instrument in writing signed by Executive and a duly authorized officer or director of the Company.
		

		
			7.           Execution in Counterparts.  This Release may be executed in counterparts with the same force and effectiveness as though executed in a single document.  Facsimile signatures shall have the same force and effectiveness as original signatures.
		

		
			8.           Intent to be Bound.  The Parties have carefully read this Release in its entirety; fully understand and agree to its terms and provisions; and intend and agree that it is final and binding on all Parties.
		

		
			 
		

		
			
		

		
			

		 

		

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			IN WITNESS WHEREOF, and intending to be legally bound, the Parties have executed the foregoing on the dates shown below.
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						EXECUTIVE

					
					
						MAXAR TECHNOLOGIES INC.:

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Name:

					
					
						Name:

				
	
					
						 

					
					
						 

				
	
					
						Title:

					
					
						Title:

				
	
					
						 

					
					
						 

				
	
					
						Date:

					
					
						Date:

				

		
			 
		

		 

		

			A-5maxr_ex10-3

		
			Exhibit 10.3
		

		
			 
		

		
			MAXAR TECHNOLOGIES INC.
		

		
			2019  INCENTIVE AWARD PLAN
		

		
			PERFORMANCE STOCK UNIT AWARD GRANT NOTICE
		

		
			Maxar Technologies Inc., a Delaware corporation, (the “Company”), pursuant to its 2019  Incentive Award Plan, as amended from time to time (the “Plan”), hereby grants to the holder listed below (the “Participant”), an award of performance stock units (“Performance Stock Units” or “PSUs”).  Each vested Performance Stock Unit represents the right to receive, in accordance with the Performance Stock Unit Award Agreement attached hereto as Exhibit A (the “Agreement”), a number of shares of Common Stock   (each, a “Share”) based on the Company’s achievement of certain performance goals.  This award of Performance Stock Units is subject to all of the terms and conditions set forth herein and in the Agreement and the Plan, each of which are incorporated herein by reference.  Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Performance Stock Unit Award Grant Notice (the “Grant Notice”) and the Agreement.
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						Participant:

					
					
						[__________________________]

				
	
					
						 

					
					
						 

				
	
					
						Grant Date:

					
					
						[__________________________]

				
	
					
						 

					
					
						 

				
	
					
						Total Number of PSUs:

					
					
						[_____________] 

				
	
					
						 

					
					
						 

				
	
					
						Vesting Schedule:

					
					
						[To be specified in the individual agreements.]

					
						 

					
						The maximum number of Shares that may be issued in respect of the PSUs is [___]

				
	
					
						 

					
					
						 

				
	
					
						Termination of PSUs:

					
					
						Except as set forth in the Agreement, if the Participant experiences a Termination of Service, all PSUs that have not become vested on or prior to the date of such Termination of Service will thereupon be automatically forfeited by the Participant without payment of any consideration therefor.  In addition, in the event that the Achievement Factor as of a Performance Period’s Determination Date (each as defined in Exhibit B) is zero, any PSUs subject to such Performance Period will thereupon be automatically forfeited by the Participant without payment of any consideration therefor.

				

		
			 
		

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			By his or her signature and the Company’s signature below, the Participant agrees to be bound by the terms and conditions of the Plan, the Agreement and this Grant Notice.  The Participant has reviewed the Agreement, the Plan and this Grant Notice in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully understands all provisions of this Grant Notice, the Agreement and the Plan.  The Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan, this Grant Notice or the Agreement.  In addition, by signing below, the Participant also agrees that the Company, in its sole discretion, may satisfy any withholding obligations in accordance with Section 2.6(b) of the Agreement by (i) withholding shares of Common Stock otherwise issuable to the Participant upon vesting of the PSUs, (ii) instructing a broker on the Participant’s behalf to sell shares of Common Stock otherwise issuable to the Participant upon vesting of the PSUs and submit the proceeds of such sale to the Company, or (iii) using any other method permitted by Section 2.6(b) of the Agreement or the Plan.
		

		
			 
		

			
					
						MAXAR TECHNOLOGIES INC.:

					
					
						 

					
					
						PARTICIPANT:

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						 

					
					
						 

					
					
						By:

					
					
						 

				
	
					
						Print Name: 

					
					
						 

					
					
						 

					
					
						Print Name:

					
					
						 

				
	
					
						Title:

					
					
						 

					
					
						 

					
					
						    

					
					
						 

				
	
					
						Address: 

					
					
						 

					
					
						 

					
					
						Address: 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			

		 

		

		
			 
		

		
			EXHIBIT A
		

		
			TO PERFORMANCE STOCK UNIT AWARD GRANT NOTICE
		

		
			PERFORMANCE STOCK UNIT AWARD AGREEMENT
		

		
			Pursuant to the Performance Stock Unit Award Grant Notice (the “Grant Notice”)  to which this Performance Stock Unit Award Agreement (this “Agreement”) is attached, Maxar Technologies Inc., a Delaware corporation (the “Company”), has granted to the Participant the number of performance stock units (“Performance Stock Units” or “PSUs”) set forth in the Grant Notice under the Company’s 2019  Incentive Award Plan, as amended from time to time (the “Plan”).  Each Performance Stock Unit represents the right to receive a number of shares of Common Stock (each, a “Share”) based on the Company’s achievement of certain performance goals.  Capitalized terms not specifically defined herein shall have the meanings specified in the Plan and Grant Notice.
		

		
			ARTICLE I.
		

		
			GENERAL
		

		
			1.1           Incorporation of Terms of Plan.  The PSUs are subject to the terms and conditions of the Plan, which are incorporated herein by reference.  In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan shall control.
		

		
			ARTICLE II.
		

		
			GRANT OF PERFORMANCE STOCK UNITS
		

		
			2.1            Grant of PSUs.  Pursuant to the Grant Notice and upon the terms and conditions set forth in the Plan and this Agreement, effective as of the Grant Date set forth in the Grant Notice, the Company hereby grants to the Participant an award of PSUs under the Plan in consideration of the Participant’s past and/or continued employment with or service to the Company or any Subsidiaries and for other good and valuable consideration.
		

		
			2.2            Unsecured Obligation to PSUs.  Each PSU constitutes the right to receive a number of Shares upon vesting, as determined in accordance with Section 2.3 and 2.6 below.  Unless and until the PSUs have vested in the manner set forth in Article 2 hereof, the Participant will have no right to receive Common Stock under any such PSUs.  Prior to actual payment of any vested PSUs, such PSUs will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company.
		

		
			2.3        Vesting Schedule; Change in Control.
		

		
			(a)            Subject to Section 2.5 hereof, the PSUs shall vest and become nonforfeitable with respect to the applicable portion thereof in accordance with the Grant Notice and this Section 2.3.
		

		
			(b)            Notwithstanding Section 2.3(a), if a Change in Control occurs and at least one of the two additional circumstances described below occurs, then each unvested PSU will become immediately vested and earned, in whole or in part:
		

		
			(i)          upon a Change in Control, the surviving corporation or successor fails to continue or assume the obligations with respect to the PSUs or fails to provide for the conversion or replacement of the PSUs with an equivalent award; or
		

		
			
		

		
			

		 

		

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			(ii)        in the event that the PSUs are continued, assumed, converted or replaced as contemplated in Section 2.3(b)(i), during the one-year period following the effective date of a Change in Control, the Participant incurs a termination of employment or service with the Company or a Subsidiary without Cause or for Good Reason.
		

		
			For any PSUs that vest in accordance with Section 2.3(b), such PSUs shall vest based on the greater of: (i) actual performance through the date of (x) the Change in Control, in the event subsection (i) above applies or (y) the date of Termination of Service, in the event subsection (ii) applies (in each case, the “Early Measurement Date”); or (ii) prorated target performance (as set forth on Exhibit B) based on the number of days elapsed in the applicable Performance Period through the Early Measurement Date.
		

		
			(c)            For purposes of Section 2.3, the obligations with respect to the PSUs will be considered to have been converted or replaced with an equivalent award by the surviving corporation or successor (or an affiliate thereof), if each of the following conditions are met, which determination will be made solely in the discretionary judgment of the Administrator (as constituted immediately prior to the Change in Control), which determination may be made in advance of the effective date of a particular Change in Control:
		

		
			(i)         the converted or replaced award preserves the existing value of the PSUs being replaced, and contains provisions for scheduled vesting and treatment on termination of employment (including the definition of Cause and Good Reason) that are no less favorable to the Participant than the PSUs being replaced; and
		

		
			(ii)        the security represented by the converted or replaced award is of a class that is publicly held and widely traded on an established stock exchange.
		

		
			2.4            Consideration to the Company.  In consideration of the grant of the award of PSUs pursuant hereto,  the Participant agrees to render faithful and efficient services to the Company or any Subsidiary.
		

		
			2.5           Forfeiture, Termination and Cancellation upon Termination of Service.  Subject to Section 2.3(b), upon the Participant’s Termination of Service for any or no reason, all Performance Stock Units which have not vested prior to or in connection with such Termination of Service shall thereupon automatically be forfeited, terminated and cancelled as of the applicable termination date without payment of any consideration by the Company, and the Participant, or the Participant’s beneficiary or personal representative, as the case may be, shall have no further rights hereunder.  Further, notwithstanding anything herein to the contrary, in the event the Achievement Factor calculated as of a Performance Period’s Determination Date equals zero (0), then any PSUs subject to such Performance Period shall thereupon automatically be forfeited, terminated and cancelled as of the applicable Determination Date without payment of any consideration by the Company, and the Participant, or the Participant’s beneficiary or personal representative, as the case may be, shall have no further rights hereunder. No portion of the PSUs which has not become vested as of the date on which the Participant incurs a Termination of Service shall thereafter become vested.
		

		
			2.6           Settlement upon Vesting.
		

		
			(a)            As soon as administratively practicable following the vesting of any Performance Stock Units pursuant to Section 2.3 hereof, but in no event later than thirty (30) days thereafter (for the avoidance of doubt, this deadline is intended to comply with the “short term deferral” exemption from Section 409A of the Code), the Company shall deliver to the Participant (or any transferee permitted under Section 3.2 hereof) a number of Shares determined in accordance with the
		

		
			
		

		
			

		 

		

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			Grant Notice and Exhibit B.  Notwithstanding the foregoing, in the event Shares cannot be issued pursuant to Section 10.4 of the Plan, the Shares shall be issued pursuant to the preceding sentence as soon as administratively practicable after the Administrator determines that Shares can again be issued in accordance with such Section.
		

		
			(b)            As set forth in Section 10.2 of the Plan, the Company shall have the authority and the right to deduct or withhold, or to require the Participant to remit to the Company, an amount sufficient to satisfy all applicable federal, state and local taxes required by law to be withheld with respect to any taxable event arising in connection with the Performance Stock Units.  The Company shall not be obligated to deliver any Shares to the Participant or the Participant’s legal representative unless and until the Participant or the Participant’s legal representative shall have paid or otherwise satisfied in full the amount of all federal, state and local taxes applicable to the taxable income of the Participant resulting from the grant or vesting of the Performance Stock Units or the issuance of Shares.
		

		
			2.7            Conditions to Delivery of Shares.  The Shares deliverable hereunder may be either previously authorized but unissued Shares, treasury Shares or issued Shares which have then been reacquired by the Company.  Such Shares shall be fully paid and nonassessable.  The Company shall not be required to issue Shares deliverable hereunder prior to fulfillment of the conditions set forth in Section 10.4 of the Plan.
		

		
			2.8            Rights as Stockholder.  The holder of the PSUs shall not be, nor have any of the rights or privileges of, a stockholder of the Company, including, without limitation, voting rights and rights to dividends, in respect of the PSUs and any Shares underlying the PSUs and deliverable hereunder unless and until such Shares shall have been issued by the Company and held of record by such holder (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company).  No adjustment shall be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 12.2 of the Plan.
		

		
			ARTICLE III.
		

		
			OTHER PROVISIONS
		

		
			3.1            Administration.  The Administrator shall have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret, amend or revoke any such rules.  All actions taken and all interpretations and determinations made by the Administrator in good faith shall be final and binding upon the Participant, the Company and all other interested persons.  No member of the Administrator or the Board shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan, this Agreement or the PSUs.
		

		
			3.2           PSUs Not Transferable.  The PSUs shall be subject to the restrictions on transferability set forth in Section 10.3 of the Plan.
		

		
			3.3        Tax Consultation.  The Participant understands that the Participant may suffer adverse tax consequences in connection with the PSUs granted pursuant to this Agreement (and the Shares issuable with respect thereto).  The Participant represents that the Participant has consulted with any tax consultants the Participant deems advisable in connection with the PSUs and the issuance of Shares with respect thereto and that the Participant is not relying on the Company for any tax advice.
		

		
			
		

		
			

		 

		

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			3.4        Binding Agreement. Subject to the limitation on the transferability of the PSUs contained herein, this Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto.
		

		
			3.5        Adjustments Upon Specified Events.  The Participant acknowledges that the PSUs are subject to adjustment, modification and termination in certain events as provided in this Agreement and Section 12.2 of the Plan.
		

		
			3.6        Notices.  Any notice to be given under the terms of this Agreement to the Company shall be addressed to the Company in care of the Secretary of the Company at the Company’s principal office, and any notice to be given to the Participant shall be addressed to the Participant at the Participant’s last address reflected on the Company’s records.  By a notice given pursuant to this Section 3.6, either party may hereafter designate a different address for notices to be given to that party. Any notice shall be deemed duly given when sent via email or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service.
		

		
			3.7        Participant’s Representations.  If the Shares issuable hereunder have not been registered under the Securities Act or any applicable state laws on an effective registration statement at the time of such issuance, the Participant shall, if required by the Company, concurrently with such issuance, make such written representations as are deemed necessary or appropriate by the Company and/or its counsel.
		

		
			3.8        Titles.  Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement.
		

		
			3.9        Governing Law.  The laws of the State of Delaware shall govern the interpretation, validity, administration, enforcement and performance of the terms of this Agreement regardless of the law that might be applied under principles of conflicts of laws.
		

		
			3.10      Conformity to Securities Laws.  The Participant acknowledges that the Plan and this Agreement are intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and any other Applicable Law.  Notwithstanding anything herein to the contrary, the Plan shall be administered, and the PSUs are granted, only in such a manner as to conform to Applicable Law.  To the extent permitted by Applicable Law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such Applicable Law.
		

		
			3.11      Amendment, Suspension and Termination.  To the extent permitted by the Plan, this Agreement may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Administrator or the Board; provided, however, that, except as may otherwise be provided by the Plan, no amendment, modification, suspension or termination of this Agreement shall adversely affect the PSUs in any material way without the prior written consent of the Participant.
		

		
			3.12      Successors and Assigns.  The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company.  Subject to the restrictions on transfer herein set forth in Section 3.2 hereof, this Agreement shall be binding upon the Participant and his or her heirs, executors, administrators, successors and assigns.
		

		
			3.13      Limitations Applicable to Section 16 Persons.  Notwithstanding any other provision of the Plan or this Agreement, if the Participant is subject to Section 16 of the Exchange Act, then the Plan,
		

		
			
		

		
			

		 

		

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			the PSUs and this Agreement shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule.  To the extent permitted by Applicable Law, this Agreement shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.
		

		
			3.14      Not a Contract of Service Relationship.  Nothing in this Agreement or in the Plan shall confer upon Participant any right to continue to serve as an employee or other service provider of the Company or any of its Subsidiaries or interfere with or restrict in any way with the right of the Company or any of its Subsidiaries, which rights are hereby expressly reserved, to discharge or to terminate for any reason whatsoever, with or without cause, the services of the Participant’s at any time.
		

		
			3.15      Section 409A.  This Award is not intended to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Code (together with any Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the date hereof, “Section 409A”).  However, notwithstanding any other provision of the Plan, the Grant Notice or this Agreement, if at any time the Administrator determines that this Award (or any portion thereof) may be subject to Section 409A, the Administrator shall have the right in its sole discretion (without any obligation to do so or to indemnify Participant or any other person for failure to do so) to adopt such amendments to the Plan, the Grant Notice or this Agreement, or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as the Administrator determines are necessary or appropriate for this Award either to be exempt from the application of Section 409A or to comply with the requirements of Section 409A.
		

		
			3.16      Limitation on Participant’s Rights.  Participation in the Plan confers no rights or interests other than as herein provided.  This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust.  Neither the Plan nor any underlying program, in and of itself, has any assets.  The Participant shall have only the rights of a general unsecured creditor of the Company and its Subsidiaries with respect to amounts credited and benefits payable, if any, with respect to the PSUs, and rights no greater than the right to receive the Common Stock as a general unsecured creditor with respect to PSUs, as and when payable hereunder.
		

		
			3.17      Data Privacy.  Without limiting the generality of any other provision of this Agreement, Section 10.8 (“Data Privacy”) of the Plan is hereby expressly incorporated into this Agreement as if first set forth herein.
		

		
			3.18      Foreign Asset/Account Reporting Notification. The Participant understands that the Participant’s country may have certain exchange control and/or foreign asset/account reporting requirements which may affect the Participant’s ability to hold Shares received from the PSUs in a brokerage or bank account outside of the Participant’s country. The Participant may be required to report such accounts, assets or transactions to the tax or other authorities in the Participant’s country. The Participant acknowledges that it is the Participant’s responsibility to comply with any applicable regulations, and the Participant should speak to the Participant’s personal advisor on this matter.
		

		
			3.19      Additional Acknowledgement.  The Participant acknowledges that for employment law purposes outside the United States, the PSUs and the income from and value of same, are not part of normal or expected compensation or salary for any purpose, including but not limited to for purposes of calculating any severance, resignation, termination, redundancy, dismissal, end of service payments, bonuses, holiday pay, long-service awards, pension or retirement benefits or similar mandatory payments.
		

		
			
		

		
			

		 

		

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			3.20      Additional Terms for Participants in Canada.
		

		
			(a)         Notwithstanding any other provision of the Plan, Agreement or Grant Notice, in no event will the final vesting date of any PSU granted hereunder be (and any subsequent payment and/or settlement thereof be made) later than December 31 of the third calendar year following the year of grant, and any PSUs that have not settled and/or been paid by such date will automatically expire or will accelerate and be settled and/or paid out by such date, at the sole discretion of the Company.
		

		
			(b)         By accepting this grant of securities, the Participant represents and warrants to the Company that the Participant’s participation in the trade and acceptance of such securities is voluntary and that the Participant has not been induced to participate by expectation of engagement, appointment, employment, continued appointment or continued employment, as applicable.
		

		
			3.21      Language Consent for Participants in Quebec.  The parties acknowledge that it is their express wish that the Agreement, as well as all documents, notices, and legal proceedings entered into, given or instituted pursuant hereto or relating directly or indirectly hereto, be drawn up in English.
		

		
			Les parties reconnaissent avoir exigé la rédaction en anglais de cette convention (« Agreement »), ainsi que de tous documents, avis et procédures judiciaires,  exécutés,  donnés ou intentés en vertu de, ou liés directement ou indirectement à, la présente convention.
		

		
			 
		

		
			 
		

		
			

		 

		

			A-6

		

		

		
			 
		

		
			Exhibit B
		

		
			PERFORMANCE GOALS
		

		
			1.    Definitions.
		

		
			“Achievement Factor” for a Performance Period means [______].
		

		
			“Performance Period” means [_____].
		

		
			[Additional definitions to be specified in the individual agreements.]
		

		
			 
		

		
			2.    Achievement Factors.  As soon as administratively practicable following the end of each Performance Period (but in no event later than 60 days following the completion of such Performance Period), the Administrator shall determine [_______] (such date of determination, the “Determination Date”).
		

		
			[Additional details to be specified in the individual agreements.]
		

		
			 
		

		
			 
		

		 

		

			C-1

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