Document:

exv10w3

 

EXHIBIT 10.3

 Mobility Electronics, Inc.

 Omnibus Long-Term Incentive Plan

 Restricted Stock Unit Award Agreement

     This Restricted Stock Unit Award Agreement (the “Agreement”) is made this 19th day
of March, 2008 (the “Grant Date”) by and between Mobility Electronics, Inc. (the “Company”) and
                     (the “Participant”).

     WHEREAS, Participant is receiving an award of restricted stock units pursuant to the Mobility
Electronics, Inc. Omnibus Long-Term Incentive Plan (the “Plan”); and

     WHEREAS, it is a condition to Participant receiving the restricted stock unit award that
Participant deliver an executed version of this Agreement, along with the attached Tax Election
Form, to the Company;

     NOW THEREFORE, in consideration of the mutual covenants contained herein and for other good
and valuable consideration, the Company hereby awards restricted stock units to Participant on the
following terms and conditions:

     1. Award of Restricted Stock Units. The Company hereby grants to Participant a total
of                      (___) restricted stock units (the “Units”) subject to the terms and conditions
set forth in this Agreement.

     2. Vesting Schedule. Subject to the terms and conditions of this Agreement, the Units
shall vest upon the earliest to occur, and subject to the terms and conditions, of the following
(the occurrence of such event referred to herein as the “Vesting Date”):

     A. Time Based Vesting: Twenty-five percent (25%) of the Units shall
automatically vest each year over the next four (4) years immediately upon the anniversary
of the Grant Date (i.e. 25% of the Units shall automatically vest on each of March 19, 2009,
March 19, 2010, March 19, 2011 and March 19, 2012) (the “Time Based Vesting Date”);

     B. Death; Disability; Termination Without Cause; or Retirement: If the
Participant ceases to be employed by the Company by reason of his or her death, total and
permanent disability (as certified by an independent medical advisor appointed by the
Company prior to such termination), termination without “Cause” (as defined below), or
“Retirement” (as defined below), a prorated number of unvested Units shall vest
automatically upon such death, disability, termination without Cause, or Retirement,
determined by multiplying the number of Units by a fraction, the numerator of which is the
number of complete months of continuous employment by the Participant with the Company from
the Grant Date until the date of termination and the denominator of which is the number of
complete months between the Grant Date and the Time Based Vesting
Date. The balance of the Units subject to the provisions of this Agreement which have
not vested shall automatically be forfeited by the Participant. “Cause” means (i)

 

 

Participant’s conviction of a felony or commission of any act of fraud, moral turpitude or
dishonesty, (ii) Participant’s breach of any of the terms or conditions of, or the failure
to perform any covenant contained in, the Company’s Employee Handbook or Code of Business
Conduct and Ethics, as modified from time to time, or (c) Participant’s violation of
reasonable instructions or policies established by the Company with respect to the operation
of its business and affairs or Participant’s failure to carry out the reasonable
instructions required in connection with his or her employment. “Retirement” means the
point in time at which the Participant retires from the Company and either: (1) (a)
Participant’s age is fifty-five (55) years or greater, and (b) Participant has been employed
by the Company for ten (10) years or more; or (2) Participant’s age is sixty-two (62) years
or greater; and

     C. Change in Control: Upon a “Change in Control,” as defined below, one
hundred percent (100%) of the Units shall vest automatically. A “Change in Control” shall
mean the occurrence of one or more of the following events: (i) any person within the
meaning of Section 13(d) and 14(d) of the Securities Exchange Act or 1934, as amended (the
“Exchange Act”), other than the Company (including its subsidiaries, directors or executive
officers) has become the beneficial owner, within the meaning of Rule 13d-3 under the
Exchange Act, of 50 percent or more of the combined voting power of the Company’s then
outstanding common stock or equivalent in voting power of any class or classes of the
Company’s outstanding securities ordinarily entitled to vote in elections of directors
(“voting securities”); (ii) shares representing 50 percent or more of the combined voting
power of the Company’s voting securities are purchased pursuant to a tender offer or
exchange offer (other than an offer by the Company or its subsidiaries, directors or
executive officers); (iii) as a result of, or in connection with, any tender offer or
exchange offer, merger or other business combination, sale of assets or contested election,
or any combination of the foregoing transactions (a “Transaction”), the persons who were
directors of the Company before the Transaction shall cease to constitute a majority of the
Board or of any successor to the Company; (iv) following the date hereof, the Company is
merged or consolidated with another corporation and as a result of such merger or
consolidation less than 50 percent of the outstanding voting securities of the surviving or
resulting corporation shall then be owned in the aggregate by the former stockholders of the
Company, other than (1) any party to such merger or consolidation, or (2) any affiliates of
any such party; or (v) the Company transfers more than 50 percent of its assets, or the last
of a series of transfers results in the transfer of more than 50 percent of the assets of
the Company, or the Company transfers a business unit and/or business division responsible
for more than 35% of the Company’s revenue for the twelve-month period preceding the month
in which such transfer occurred, in either case, to another entity that is not wholly-owned
by the Company. Any determination required above in this subsection (v) shall be made by
the Compensation
Committee of the Board of Directors of the Company, as constituted immediately prior to
the occurrence of such event.

 

 

     3. Restrictions. This Agreement and the Units granted pursuant hereto shall be
subject to the following restrictions:

          A. Termination of Agreement and Rights to Units. Any Units that have not otherwise
vested pursuant to the terms of this Agreement shall be automatically forfeited upon the
Participant’s termination of employment or service with the Company.

          B. Non-Assignability. Unless otherwise determined by the Compensation Committee of
the Board of Directors of the Company, the Participant may not sell, assign, transfer, discount, or
pledge as collateral for a loan, or otherwise anticipate any right to payment under the Plan or
this Agreement other than by will or by the applicable laws of descent and distribution.

     4. Form and Timing of Payment. Any vested Units shall be paid by the Company in
shares of the Company’s common stock, par value $0.01 per share (the “Shares”) on a one-to-one
basis on, or as soon as practicable after, the Vesting Date.

     5. Tax Withholding. Upon the vesting of any Units, the tax withholding obligations of
the Participant and the Company shall be satisfied, at the Participant’s election pursuant to the
attached Tax Election Form, by the Participant either paying the appropriate tax withholding amount
in cash, or tendering to the Company a sufficient number of Shares necessary to satisfy the
Participant’s and the Company’s tax withholding obligations.

     6. Change in Capital Structure. The terms of this Agreement, including the number of
Units subject to this Agreement, shall be adjusted as the Compensation Committee of the Board of
Directors of the Company determines is equitably required in the event the Company effects any
merger, reorganization, consolidation, recapitalization, stock dividend, stock split, reverse stock
split, spin-off, combination, repurchase or exchange of shares or other securities of the Company,
or similar corporate transaction.

     7. No Rights as a Stockholder. The Participant shall have no rights as a stockholder
with respect to any Shares until the date of the issuance and delivery of such Shares.

     8. No Right to Employment. This Agreement shall not be construed as giving the
Participant the right to be retained in the employ or as a consultant of the Company or any
affiliate of the Company, as the case may be. The Company may at any time terminate the
Participant’s employment or a consultant’s provision of services free from any liability or any
claim under the Plan or this Agreement.

     9. Participant Bound by Plan. The Participant hereby acknowledges that a copy of the
Plan and the Prospectus for the Plan has been made available to him or her and the Participant
agrees to be bound by all the terms and provisions of the Plan.

 

 

     10. Conflicts. In the event of any conflict between the provisions of the Plan as in
effect on the Grant Date and the provisions of this Agreement, the provisions of the Plan shall
govern.

     11. Binding Effect. This Agreement shall be binding upon and inure to the benefit of
the legatees, distributes and personal representatives of the Participant and the successors of the
Company.

     12. Governing Law. This Agreement shall be governed by, and interpreted under, the
laws of the State of Arizona without regard to conflicts of law provisions thereof, and the
Participant and the Company irrevocably consent to the exclusive jurisdiction of and venue in the
federal and/or state courts located in Phoenix, Arizona.

     IN WITNESS WHEREOF, the Company has executed this Agreement as of the day and year first above
written.

	 	 	 	 	 	 	 
	 	 	MOBILITY ELECTRONICS, INC.
	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 

     The undersigned Participant hereby accepts, and agrees to, all terms and provisions of the
foregoing Agreement. If you do not sign and return this Agreement, you will not be entitled to the
Units.

			
	 
	 

Signature

	 	 
	 
	 	 
	 

	 	 
	Print Name
	 	 
	 
	 	 
	Social Security Number or

	 	 
	Commerce ID NumberExhibit 4.1 - Specimen Stock Certificate.

Exhibit 4.1

	Number  	  	Shares  
	NATURE OF BEAUTY LTD. 
	INCORPORATED UNDER THE LAWS OF THE STATE OF $0.00001 
	NEVADA 200,000,000 SHARES COMMON STOCK AUTHORIZED, 
	PAR VALUE 
	  
	  	  	CUSIP ________ 
	  	  	SEE REVERSE  
	  	  	FOR  
	This  	  	CERTAIN  
	certifies  	  	DEFINITIONS  
	that  	  	  
	is the owner of  	  	  
	  
	  
	FULLY PAID AND NON-ASSESSABLE 
	SHARES OF COMMON STOCK OF 
	  
	  
	NATURE OF BEAUTY LTD. 
	transferable on the books of the corporation in person or by duly 
	authorized attorney upon surrender of this certificate properly 
	endorsed. This certificate and the shares represented hereby 
	are subject to the laws of the State of Nevada, and to the 
	Articles of Incorporation and Bylaws of the Corporation, 
	as now or hereafter amended. This certificate is not valid 
	unless countersigned by the Transfer Agent. WITNESS 
	the facsimile seal of the Corporation and the signature 
	of its duly authorized officers 
	  
	  
	  
	  
	PRESIDENT  	[SEAL]  	SECRETARY  

 

 

 

     The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations.

	TEN COM  	as tenants in common  	UNIF GIFT MIN ACT ___________________ 	Custodian  ______________
	TEN ENT  	as tenants by the entireties  	                         (Cust)  	(Minor)  
	JT TEN  	as joint tenants with the right of  	                                                      Act _________________________________  
	  	survivorship and not as tenants  	  	(State)  
	  	in common  	  	  

Additional abbreviations may also be used though not in the above list.

	For value received,  	____________________________________________________________________  	hereby sell, assign and transfer unto  
	  	PLEASE INSERT SOCIAL SECURITY OR OTHER  	  
	  	IDENTIFYING NUMBER OF ASSIGNEE  	  

____________________________________________________________________________________________________________________________

                                                     (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE OF ASSIGNEE)

____________________________________________________________________________________________________________________________

____________________________________________________________________________________________________________________________

_____________________________________________________________________________________________________________________________

_____________________________________________________________________________________________________________________ shares of 

the capital stock represented by the within Certificate, and do hereby irrevocably constitute and appoint

_________________________________________________________________________________________________________________, Attorney to 

transfer the said stock on the books of the within named Corporation with full power of substitution in the premises.

Dated _______________________

X ________________________________________________________________________________

THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THIS CERTIFICATE IN 

EVERY PARTICULAR WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER. THE SIGNATURE(S) MUST BE 

GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (Banks, Stockbrokers, Savings and Loan Associations and Credit Unions)

 

SIGNATURE GUARANTEED:

 

TRANSFER FEE WILL APPLY

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