Document:

Form of Performance Unit Agreement

 Exhibit 10.3 
 PERFORMANCE UNIT AGREEMENT 
 Nautilus, Inc. (the “Company”), through its Board of Directors
or a Committee thereof (the “Plan Administrator”), has granted to                      (the “Executive”) Performance Unit
awards pursuant to the Nautilus, Inc. 2005 Long Term Incentive Plan (the “Plan”), which is incorporated herein by reference. Capitalized terms not otherwise defined in this Agreement shall be defined as set forth in the Plan. 

 

	1.	Performance Units and Performance Goals. Subject to the terms of the Plan and achievement of the Performance Goals as set forth below, the Company hereby grants to Executive
the following Performance Unit awards: 

  

	 	(a)	2006 Award. The first Performance Unit award (the “2006 Award”) shall entitle the Executive to receive
                     (            ) shares of the Company’s common
stock if (i) Executive is employed by the Company on the last day of such fiscal year, and (ii) the Company achieves the following Performance Goal: the Company’s Earnings Per Share (as defined below) for such fiscal year equal or
exceed                      ($            ). 

  

	 	(b)	2007 Award. The second Performance Unit award (the “2007 Award”) shall entitle the Executive to receive
                     (            ) shares of the Company’s common
stock if (i) Executive is employed by the Company on the last day of such fiscal year, and (ii) the Company achieves the following Performance Goal: the Company’s Earnings Per Share (as defined below) for such fiscal year equal or
exceed                      ($            ). 

  

	 	(c)	2008 Award. The third Performance Unit award (the “2008 Award”) shall entitle the Executive to receive
                     (            ) shares of the Company’s common
stock if (i) Executive is employed by the Company on the last day of such fiscal year, and (ii) the Company achieves the following Performance Goal: the Company’s Earnings Per Share (as defined below) for such fiscal year equal or
exceed                      ($            ). 

  

	 	(d)	Carry forward of 2006 and 2007 Awards. In the event the Performance Goal for the 2006 Award is not achieved, such Award shall be paid to Executive if Executive receives
either the 2007 Award or the 2008 Award. In the event the Performance Goal for the 2007 Award is not achieved, such Award shall be paid to Executive if Executive receives the 2008 Award. 

 As used in this Agreement, “Earnings Per Share” shall mean the Company’s earnings per share for a completed fiscal year as reported in the Company’s
consolidated statement of income as set forth in the report of the Company’s independent auditors. 
  

	2.	Price Paid by Executive. If earned in accordance with Section 1, the Performance Unit Awards shall be paid to Executive in shares of common stock of the Company within
60 days after the last day of the fiscal year in which such award is earned. The Executive shall not be required to make any payment for such shares. 

	3.	Termination of Employment. In the event Executive’s employment with the Company shall terminate for any reason prior to the date on which the Company publicly announces
results of operations for fiscal 2006, 2007 or 2008, the Award for such year(s) shall be cancelled and of no further force or effect. 

  

	4.	No Rights of Shareholder. Until the Company has issued shares to Executive in accordance with the terms of the Plan, the Performance Units granted herein shall not entitle
the Executive to any rights of a shareholder, including without limitation the right to receive dividends or to vote the shares underlying such Performance Units. 

  

	5.	Non-Transferability of Awards. These Performance Unit awards may not be transferred in any manner otherwise than by will or by the laws of descent or distribution.

  

	6.	Adjustments upon Recapitalization or Reorganization. In the event of a material alteration in the capital structure of the Company on account of a recapitalization, stock
split, reverse stock split, stock dividend or otherwise, these Performance Unit awards shall be subject to adjustment by the Plan Administrator in accordance with the Plan. 

  

	7.	Taxation upon Payment of Awards. Executive understands that he may recognize income for federal income tax purposes in an amount equal to the fair market value of shares
received under these Performance Unit awards. The Company will be required to withhold tax from Executive’s current compensation with respect to such income; to the extent that Executive’s current compensation is insufficient to satisfy
the withholding tax liability, the Company may require the Executive to make a cash payment to cover such liability as a condition of issuing such shares; provided, at Executive’s election, withholding tax may be paid by withholding from the
earned award such number of shares as have an aggregate Fair Market Value on the date of withholding as equals the amount of withholding tax so payable. 

  

	8.	Governing Law. This agreement shall be interpreted and construed in accordance with the laws of the State of Washington. 

  

	9.	Section 409A. Anything herein to the contrary notwithstanding, any earned amount payable to Executive hereunder shall be paid on or deferred until the earliest date as
may be required to comply with the provisions of Section 409A of the Internal Revenue Code of 1986, as amended. 

 [Remainder of this page intentionally left blank.] 

 IN WITNESS WHEREOF, this Agreement has been executed effective
                        . 
  

									
	EXECUTIVE	 		 		 	NAUTILUS, INC.
				
	  	 		 	 By:
	 	  
	 [name of Executive]
	 		 		 	 Signature

					
		 		 		 		 	  
		 		 		 		 	 Print Name

		 		 		 		 	 Its: _____________________________________________Form of Restricted Share Award

 Exhibit 10.10 
 Form of 
 Novatel Wireless, Inc. 
 2000 Stock Incentive Plan 
  

 Restricted Share Award Agreement 
  

  

					
	 Award No.
	  		  	  
	 Effective Date
	  		  	May 17, 2006        

 You are hereby awarded restricted shares of the common stock, $0.001 par value per share
(“Restricted Shares”), of Novatel Wireless, Inc., a Delaware corporation (together with its parents, subsidiaries and affiliates, the “Company”), subject to the terms and conditions set forth in this Restricted
Share Award Agreement (“Award Agreement” or “Award”), and in the Novatel Wireless, Inc. 2000 Stock Incentive Plan (the “Plan”). By executing this Award Agreement, you agree to be bound by all the
Plan’s terms and conditions as if they had been set out verbatim below. Capitalized terms used but not otherwise defined herein are defined in the Plan. 
 1. Specific Terms. Your Restricted Shares have the following terms: 
  

			
	 Name of Recipient
	  	 
	 Number of Shares

 Awarded
	  	7,500
	 Award Date
	  	May 17, 2006
	Vesting (each, a
“Vesting Date”)	  	The Restricted Shares shall vest in three equal annual installments, beginning on May 17, 2007. In the event that you are no longer in Service to the Company in any capacity (e.g. as an
employee, consultant, or member of the Board of Directors), any unvested Restricted Shares (including dividends paid thereon), shall be automatically forfeited and returned to the Company for cancellation upon the effective day of the end of your
Service.

 2. Representation. You hereby represent and warrant to the Company that you have no present
intention of distributing or selling the Restricted Shares except as permitted under applicable securities laws. You further acknowledge and agree that your ability to sell the Restricted Shares may be limited by applicable securities laws and the
Company’s Insider Trading Policy then in effect. 
 3. Issuance of Restricted Shares. On or about the effective date of this Award
Agreement, the Company shall cause its transfer agent to reflect the issuance in your name of all the Restricted Shares subject to this Award. Such Restricted Shares shall be held in the custody of the Company or its designee for your account. The
Restricted Shares shall be subject to the restrictions set forth herein. Until applicable vesting restrictions lapse, any certificates that you 

 
receive for Restricted Shares will include a legend stating that they are subject to the restrictions set forth in the Plan and this Award Agreement.

 4. Stockholder Rights; Unvested Restricted Shares. The Company will hold the Restricted Shares in escrow until applicable vesting occurs, if
ever. You must deliver to the Company, coincident with the execution and delivery of this Award Agreement, three (3) stock powers, endorsed in blank, with respect to such shares for the Company’s use pursuant to this Award Agreement. If an
event causes you to forfeit any Restricted Shares, the stock powers will be used to return the certificates for the forfeited Restricted Shares to the transfer agent for cancellation. Subject to this Award Agreement, as the owner of record of the
Restricted Shares, your name will be reflected as such on the Company’s books and records, and you will be entitled to all rights of a Company stockholder, including voting and dividend rights with respect to the Restricted Shares provided
however, that dividends paid with respect to those Restricted Shares, whether in cash or stock, that have not vested at the time of the dividend payment shall themselves be subject to the same restrictions, vesting and forfeiture conditions that
apply to the corresponding Restricted Shares. 
 5. Transfer Restrictions. No portion of the Restricted Shares may be sold, transferred,
assigned, pledged or otherwise encumbered or disposed of by you until the applicable Vesting Date in accordance with Section 1 hereof and then only in accordance with applicable securities laws and the Company’s Insider Trading Policy then
in effect should such policy then apply to you. The Company shall not be required (i) to transfer on its books any Restricted Shares that have been sold or otherwise transferred in violation of any provision of this Award Agreement, or
(ii) to treat as owner of such shares or to accord the right to vote or pay dividends to any purchaser or other transferee to whom you have attempted to transfer such shares. 
 6. Notices. Any notice or communication required or permitted by any provision of this Award Agreement to be given to you shall be in writing and shall be delivered electronically, personally, or sent by
certified mail, return receipt requested, addressed to you at the last address that the Company had for you on its records. Each party may, from time to time, by notice to the other party hereto, specify a new address for delivery of notices
relating to this Award Agreement. Any such notice shall be deemed to be given as of the date such notice is personally delivered or properly mailed. 
 7.
Binding Effect. Except as otherwise provided in this Award Agreement or in the Plan, every covenant, term, and provision of this Award Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
heirs, legatees, legal representatives, successors, and permitted transferees and assigns. 
 8. Modifications. This Award Agreement may not be
modified or amended without your prior written consent. 
 9. Headings. Section and other headings contained in this Award Agreement are for
reference purposes only and are not intended to describe, interpret, define or limit the scope or intent of this Award Agreement or any provision hereof. 

 10. Severability. Every provision of this Award Agreement is intended to be severable. If any term hereof
is illegal or invalid for any reason, such illegality or invalidity shall not affect the validity or legality of the remaining terms of this Award Agreement. 
 11. Counterparts. This Award Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute one
and the same instrument. 
 12. Plan. By signing this Award Agreement, you acknowledge that you have received a copy of the Plan. 

13. Governing Law. The laws of The State of California shall govern the validity of this Award Agreement, the construction of its terms, and the
interpretation of the rights and duties of the parties hereto. 
 BY YOUR SIGNATURE BELOW, along with the signature of the Company’s
authorized representative, you and the Company agree that the Restricted Shares are awarded under and governed by the terms and conditions of this Award Agreement and the Plan. 
  

			
	NOVATEL WIRELESS, INC.
		
	By:	 	  
		 	 Name: Peter V. Leparulo

		 	 Title: Chief Executive Officer

  

			
	RECIPIENT
		
	By:	 	  
		 	 Name of Recipient:

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