Document:

Exhibit 10.13

 

Tyco International Ltd.
 2012 Stock and Incentive Plan

 

TERMS AND CONDITIONS

OF

RESTRICTED UNIT AWARD

 

RESTRICTED UNIT AWARD made in Schaffhausen, Switzerland as of                   , 2012 (the “Grant Date”) pursuant to the Tyco International Ltd. 2012 Stock and Incentive Plan (the “Plan”).  Capitalized terms that are not defined herein have the meaning ascribed to them in the Plan.

 

1.             Grant of Award.  Tyco International Ltd. (the “Company”) has granted you Restricted Units, as described in the grant notification letter that was issued to you (“Grant Letter”), subject to the provisions of these Terms and Conditions.  The Company will hold the Restricted Units in a bookkeeping account on your behalf until they become payable or are forfeited or cancelled.

 

2.             Payment Amount.  Each Restricted Unit represents the right to receive, upon vesting, one (1) Share of Common Stock.

 

3.             Form of Payment.  Unless otherwise set forth herein, vested Restricted Units will be redeemed solely for Shares.

 

4.             Dividends.  For each Restricted Unit that remains outstanding, you will be credited with a Dividend Equivalent Unit (DEU) for any cash or stock dividends distributed by the Company on Company Common Stock.  DEUs will be calculated at the same dividend rate paid to other holders of Common Stock.  DEUs will vest in accordance with the vesting schedule applicable to the underlying Restricted Units and shall be payable at the same time that the underlying Restricted Units are payable as provided herein.

 

5.             Vesting.  Except as otherwise provided herein, (i) your Restricted Units will vest in full on the one (1) year anniversary of the Grant Date, provided you are a member of the Company’s Board of Directors on such date, (ii) no credit will be given for periods following Termination of Directorship and (iii) any payment shall be made to you as soon as practicable following the vesting date set forth in this section 5.

 

6.             Termination of Directorship.  Except as set forth in paragraphs 7 and 8, so long as your Termination of Directorship is for reasons other than Cause, your Restricted Units will accelerate and vest pro rata (in full month increments) based on the number of full months that you have served as a Director since the Grant Date and ending on the date of your Termination of Directorship divided by the original number of full months in the vesting period.  Any unearned portion of your Award will immediately be forfeited and your rights with respect to such Restricted Units will end.

 

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7.             Death or Disability.  If your Termination of Directorship is a result of your Death or Disability, your Award will become fully vested as of your Termination of Directorship.  Any payment shall be made to you as soon as practicable following your Termination of Directorship.  If you are deceased, the Company will make a payment to your estate within ninety (90) days following your death, provided that with such ninety (90) day period the Committee has determined that the payee is the duly appointed executor or administrator of your estate.

 

8.             Change in Control.  In the event of a Change in Control of Tyco International Ltd., as defined in the Plan document, and your Termination of Directorship in connection with a Change in Control, Restricted Units will immediately become fully vested and payment shall be made as soon as practicable following such Termination of Directorship.

 

9.             Withholdings; Tax Recovery.  The Company will have the right, prior to any issuance or delivery of Shares on your Restricted Units, to withhold or require from you the payment of the amount necessary to satisfy applicable tax requirements.

 

10.          Transfer of Award.  You may not transfer any interest in Restricted Units except by will or the laws of descent and distribution.  Any other attempt to dispose of your interest in Restricted Units will be null and void.

 

11.          Forfeiture of Award.  If your services as a Director of the Company have been terminated for Cause, any unvested Restricted Units shall be immediately rescinded and you will forfeit any rights you have with respect to such Units.

 

12.          Adjustments.  In the event of any stock split, reverse stock split, dividend or other distribution (whether in the form of cash, Shares, other securities or other property), extraordinary cash dividend, recapitalization, merger, consolidation, split-up, spin-off, reorganization, combination, repurchase or exchange of Shares or other securities, the issuance of warrants or other rights to purchase Shares or other securities, or other similar corporate transaction or event, the Committee may further adjust the number and kind of Shares covered by the Restricted Units and other relevant provisions to the extent necessary to prevent dilution or enlargement of the benefits or potential benefits intended to be provided by the Restricted Units.  Any such determinations and adjustments made by the Committee will be binding on all persons.

 

13.          Restrictions on Payment of Shares.  Payment of Shares for your Restricted Units is subject to the conditions that, to the extent required at the time of delivery, (a) the Shares underlying the Restricted Units will be duly listed, upon official notice of redemption, on the NYSE, and (b) a Registration Statement under the Securities Act of 1933 with respect to the Shares will be effective.  The Company will not be required to deliver any Common Stock until all applicable federal and state laws and regulations have been complied with and all legal matters in connection with the issuance and delivery of the Shares have been approved by the appropriate counsel of the Company.

 

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14.          Disposition of Securities.  By accepting the Award, you acknowledge that you have read and understand the Company’s Insider Trading Policy, and are aware of and understand your obligations under federal securities laws, in respect of trading in the Company’s securities.  The Company will have the right to recover, or receive reimbursement for, any compensation or profit realized on the disposition of Shares received for Restricted Units to the extent that the Company has a right of recovery or reimbursement under applicable securities laws.

 

15.          Plan Terms Govern.  The redemption of Restricted Units, the disposition of any Shares received for Restricted Units, and the treatment of any gain on the disposition of these Shares are subject to the terms of the Plan and any rules that the Committee may prescribe.  The Plan document, as may be amended from time to time, is incorporated by reference into these Terms and Conditions.  Capitalized terms used in these Terms and Conditions have the meaning set forth in the Plan, unless otherwise stated in these Terms and Conditions.  Except with respect to the choice of law provision, in the event of any conflict between the terms of the Plan and the terms of these Terms and Conditions, the terms of the Plan will control.  By accepting the Award, you acknowledge receipt of the Plan and the prospectus, as in effect on the date of these Terms and Conditions.

 

16.          Personal Data.  To comply with applicable law and to administer the Plan and these Terms and Conditions properly, the Company and its agents may hold and process your personal data and/or sensitive personal data.  Such data includes, but is not limited to, the information provided in this grant package and any changes thereto, other appropriate personal and financial data about you, and information about your participation in the Plan and Shares obtained under the Plan from time to time.  By accepting the Award, you hereby give your explicit consent to the Company’s processing any such personal data and/or sensitive personal data and you also hereby give your explicit consent to the Company’s transfer of any such personal data and/or sensitive personal data outside the country in which you perform services as a Director or reside and to the United States.  The legal persons for whom your personal data is intended include the Company and any of its Subsidiaries (or former Subsidiaries as are deemed necessary), the outside Plan administrator as selected by the Company from time to time, and any other person that the Company may find in its administration of the Plan to be appropriate.  You have the right to review and correct your personal data by contacting the Office of the Corporate Secretary.  You understand that the transfer of the information outlined here is important to the administration of the Plan, and that failure to consent to the transmission of such information may limit or prohibit your participation in the Plan.

 

17.          No Contract or Promise of Future Grants.  By accepting the Award, you agree to be bound by these Terms and Conditions and acknowledge that the Award is granted at the sole discretion of the Company and is not considered part of any contract of service as a Board member with the Company or other compensation.  If your service as a Board member with the Company is terminated for any reason, whether lawfully or unlawfully, you agree that you will not be entitled by way of damages for breach of contract, dismissal or compensation for loss of office or otherwise to any sum, shares or other benefits to compensate you for the loss or diminution in value of any actual or prospective rights, benefits or expectation under or in relation to the Plan.

 

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18.          Limitations.  Nothing in these Terms and Conditions or the Plan gives you any right to continue in the service as a Board member with the Company or any of its Subsidiaries or to interfere in any way with the right of the Company to terminate your Directorship at any time.  Payment of your Restricted Units is not secured by a trust, insurance contract or other funding medium, and you do not have any interest in any fund or specific asset of the Company by reason of this Award or the account established on your behalf.  You have no rights as a stockholder of the Company pursuant to the Restricted Units until Shares are actually delivered to you.

 

19.          Incorporation of Other Agreements.  These Terms and Conditions and the Plan constitute the entire understanding between you and the Company regarding the Restricted Units.  These Terms and Conditions supercede any prior agreements, commitments or negotiations concerning the Restricted Units, except as otherwise provided in section 15 above.

 

20.          Severability.  The invalidity or unenforceability of any provision of these Terms and Conditions will not affect the validity or enforceability of the other provisions of the Agreement, which will remain in full force and effect.  Moreover, if any provision is found to be excessively broad in duration, scope or covered activity, the provision will be construed so as to be enforceable to the maximum extent compatible with applicable law.

 

21.          Sections 409A and 457A.  The award is intended to be an exempt “short-term deferral” under Sections 409A and 457A of the Internal Revenue Code of the United States. The Committee may make such modifications to these Terms and Conditions as it deems necessary or appropriate to ensure that the Award is exempt from Sections 409A and 457A to the extent applicable.

 

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By accepting this Award, you agree to the following:

 

(i)            you have carefully read, fully understand and agree to all of the terms and conditions described in these Terms and Conditions and the Plan; and

 

(ii)           you understand and agree that these Terms and Conditions and the Plan constitute the entire understanding between you and the Company regarding the Award, and that any prior agreements, commitments or negotiations concerning the Restricted Units are replaced and superseded.

 

You will be deemed to consent to the application of the terms and conditions set forth in these Terms and Conditions and the Plan unless you contact Tyco International Ltd., c/o Tyco International Management Company, Attn: Equity Plan Administration, 9 Roszel Road, Princeton, NJ 08540 in writing within thirty (30) days of the date of these Terms and Conditions.  Notification of your non-consent will nullify this grant unless otherwise agreed to in writing by you and the Company.

 

 

	
 
    	
 
    	
 
    
	
 
    	
 
    	
George R. Oliver
    
	
 
    	
 
    	
Chief Executive Officer,
    
	
 
    	
 
    	
Tyco International, Ltd.
    

 

5Exhibit 4.2

 

 

 

 

 

 

 

 

 

 

	
 

MANHATTAN BANCORP   NON-TRANSFERABLE SUBSCRIPTION RIGHTS CERTIFICATE AND ELECTION FORM

 
    

 

THIS SUBSCRIPTION RIGHTS OFFERING EXPIRES AT <TIME>, <TIME ZONE>, ON <DATE>, UNLESS THE EXERCISE PERIOD IS EXTENDED (SUCH DATE AND TIME, AS IT MAY BE EXTENDED, THE “EXPIRATION DATE”).

 

THE TERMS AND CONDITIONS OF THE RIGHTS OFFERING ARE SET FORTH IN MANHATTAN BANCORP’S PROSPECTUS DATED ______ [·], 2012 (THE “PROSPECTUS”) AND ARE INCORPORATED HEREIN BY REFERENCE. COPIES OF THE PROSPECTUS ARE AVAILABLE UPON REQUEST FROM GEORGESON INC., THE INFORMATION AGENT FOR THE RIGHTS OFFERING (SHAREHOLDERS: (866) 628-6079; BANKS AND BROKERS: (866) 628-6079 OR IF YOU ARE LOCATED OUTSIDE THE U.S. (212) 440-9800 (COLLECT)).

 

Manhattan Bancorp (the “Company”) is offering (the “Rights Offering”) to its shareholders of record (the “Recordholders”) as of 5:00 p.m., Eastern Time, on November 28, 2012 (the “Record Date”) non-transferable rights (each, a “Subscription Right”) to purchase up to an aggregate of 2,212,389 shares of the Company’s common stock (the “Common Stock”), at a subscription price of $4.52 per share (the “Subscription Price”). As described in the Prospectus, each Recordholder will receive, at no charge, one Subscription Right for every two shares of Common Stock owned on the Record Date. Subscription rights may only be exercised in whole numbers and the Company will not issue fractional rights. Each Subscription Right will allow the holder thereof to subscribe to purchase a share of Common Stock (the “Basic Subscription Privilege”) at the Subscription Price. Each Recordholder who exercises the Basic Subscription Privilege in full will be eligible to subscribe to purchase additional shares of Common Stock, subject to the conditions and limitations described further in the Prospectus (the “Over-Subscription Privilege”). The Company offers no assurances that any subscription requests that any holder of Subscription Rights may submit pursuant to the Over-Subscription Privilege will be fulfilled in whole or in part.

 

THIS RIGHTS OFFERING EXPIRES AT 5:00 P.M., EASTERN TIME, ON [·], 2012 AND THIS SUBSCRIPTION RIGHTS CERTIFICATE AND ELECTION FORM IS VOID THEREAFTER

 

You have been granted the number of Subscription Rights indicated on the reverse side, which entitles you to subscribe for an equal number of shares of Common Stock pursuant to the Basic Subscription Privilege. The number of Subscription Rights is equal to the number of shares you owned on the Record Date divided by two and, if there was a fraction remaining, rounding down to the nearest whole number.

 

The Rights Offering expires at 5:00 p.m., Eastern Time, on [·], 2012 (the “Expiration Date”) unless the Company decides, in its sole discretion, to extend the Expiration Date or cancel the Rights Offering earlier.

 

For a more complete description of the terms and conditions of the Rights Offering, please refer to the Prospectus, which you should read carefully in its entirety. Please also read carefully accompanying instructions which have been provided to you with this Subscription Rights Certificate and Election Form.

 

By executing this Subscription Rights Certificate and Election Form on the reverse side, the undersigned hereby acknowledges and agrees to the following terms and conditions: (1) At the time of submitting this Subscription Rights Certificate and Election Form, the undersigned agrees to deliver the full purchase price for all shares of Common Stock purchased; (2) Book entry shares in lieu of certificates representing shares of Common Stock duly subscribed and paid for will be issued as soon practicable after the termination of the Rights Offering in accordance with the terms of the Prospectus; and (3) The undersigned agrees to all terms and conditions of the Prospectus, which is incorporated herein by reference, and of this Subscription Rights Certificate and Election Form.

 

(See the reverse side for further instructions)

 

	
Holder ID
    	
 
    	
COY
    	
 
    	
Class
    	
 
    	
Rights Qty Issued
    	
 
    	
Rights Cert #
    
	
123456789
    	
 
    	
XXXX
    	
 
    	
Subscription Rights
    	
 
    	
XXX.XXXXXX
    	
 
    	
12345678
    

 

	
Signature   of Owner and U.S. Person for Tax Certification
    	
Signature   of Co-Owner (if more than one registered holder listed)
    	
Date (mm/dd/yyyy)
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
							

 

 

(instructions continued from the reverse side)

 

INSTRUCTIONS FOR COMPLETING THE SUBSCRIPTION RIGHTS CERTIFICATE AND ELECTION FORM

 

1.                                      If you wish to irrevocably exercise all or any of the Subscription Rights pursuant to the Basic Subscription Privilege and the Over-Subscription Privilege, please check the appropriate box(es) and indicate the number of shares of Common Stock that you wish to (a) purchase pursuant to the exercise of the Basic Subscription Privilege and (b) request pursuant to the Over-Subscription Privilege.

 

2.                                      Failure to include the full purchase price will result in the Company applying such payment to exercise the Basic Subscription Privilege of the undersigned and, if applicable, any accepted Over-Subscription Privilege to the fullest extent possible based on the amount of payment received, subject to the elimination of fractional shares. The purchase price must be paid as directed in the Prospectus and accompanying instructions. The Subscription Rights Certificate and Election Form and full payment of the total subscription amount for all shares of Common Stock subscribed for under the Basic Subscription Privilege and any additional shares of Common Stock subscribed for pursuant to the Over-Subscription Privilege, including final clearance of any uncertified personal checks, must be received by _____________ before 5:00 p.m., Eastern Time, on the Expiration Date. Once you have exercised any Subscription Rights, such exercise may not be cancelled, revoked or otherwise amended. Subscription Rights that are not exercised prior to 5:00 p.m., Eastern Time, on the Expiration Date will expire.

 

3.                                      Sign Section 2 and include your address and daytime phone number.

 

4.                                      Sign the reverse side of this Subscription Rights Certificate and Election Form.

 

THIS RIGHTS OFFERING EXPIRES AT 5:00 P.M., EASTERN TIME, ON _____________ [·], 2012 AND THIS SUBSCRIPTION RIGHTS CERTIFICATE AND ELECTION FORM IS VOID THEREAFTER.

 

	
 

PLEASE PRINT ALL INFORMATION   CLEARLY AND LEGIBLY

 
    
	
 
    
	
SECTION 1:                              OFFERING INSTRUCTIONS (check the appropriate boxes)
    	
 
    
	
 
    	
 
    
	
IF YOU WISH TO SUBSCRIBE FOR   YOUR FULL ENTITLEMENT OF SUBSCRIPTION RIGHTS:
    	
 
    
	
 
    	
 
    
	
o
    	
I   apply for ALL of my entitlement of new shares pursuant to the basic   subscription
    	
 
    	
____________________
    	
x  1   =
    	
______________
    	
x   $4.52       =
    	
$____________
    
	
 
    	
 
    	
(no.   of subscription rights)
    	
 
    	
(no. of new shares)
    	
(per share)
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
EXAMPLE:   If you own 1,000 shares of common stock, your basic subscription right   permits the purchase of 500  shares. 
   [1,000 shares of common stock / 2 = 500 with fractional shares rounded down   to the nearest whole number].
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
o
    	
In   addition, I apply for additional shares pursuant to the Oversubscription   Privilege*
    	
__________________
    	
x         $4.52
    	
=
    	
$____________
    
	
 
    	
 

(no. of additional shares)
    	
(per share)
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
IF YOU DO NOT WISH TO APPLY FOR   YOUR FULL ENTITLEMENT OF SUBSCRIPTION RIGHTS:
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
o
    	
I   apply for
    	
_________________
    	
x         $4.52=
    	
 
    	
$____________
    
	
 
    	
 
    	
(no. of new shares)
    	
(per   share)
    	
 
    	
 
    
	
 
    	
 
    
	
Amount of check or money   order enclosed
    	
$____________
    
	
 
    	
 
    
	
IF YOU DO NOT WISH TO EXERCISE   YOUR RIGHT TO SUBSCRIBE:
    	
 
    
	
Please disregard this mailing.
    	
 
    
	
 
    	
 
    
	
SECTION 2:                             SUBSCRIPTION AUTHORIZATION:
    	
 
    
	
 
    
	
I acknowledge that I have received the   Prospectus for this offering of Subscription Rights and I hereby subscribe   for the number of shares indicated above on the terms and conditions   specified in the Prospectus relating to the basic subscription and the   Oversubscription Privilege in the Subscription Rights offering.
    
	
 
    
	
 
    	
Signature   of Subscriber(s)
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
(and address if different   than that listed on this Subscription Certificate)
    
	
 
    	
 
    	
 
    
	
 
    	
 

 
    	
 
    
	
 
    	
Telephone number (including area code)
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
											

 

* You can only participate in the Oversubscription Privilege if you have subscribed for your full entitlement of new shares pursuant to the basic subscription.

 

Please complete all applicable information and return to:  COMPUTERSHARE TRUST COMPANY, N.A.

 

By First Class Mail: Computershare Trust Company, N.A., Corporate Actions Voluntary Offer, P.O. Box 43011, Providence, RI 02940-3011
  By Express Mail or Overnight Delivery: Computershare Trust Company, N.A., Corporate Actions Voluntary Offer, 250 Royall Street, Suite V, Canton, MA 02021

 

DELIVERY OF THIS SUBSCRIPTION CERTIFICATE TO AN ADDRESS OTHER THAN AS SET FORTH ABOVE DOES NOT CONSTITUTE A VALID DELIVERY.

 

Any questions regarding this Subscription Certificate and Subscription Rights Offering may be directed to Georgeson Inc.,
 toll free at (866) 628-6079 or if you are located outside the U.S. (212) 440-9800.

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