Document:

ex102.htm

     

    
      

      

    

     

    
 

    Exhibit
10.2

    

    LOGITECH
INTERNATIONAL S.A. 2006 STOCK INCENTIVE PLAN

    

    STOCK
OPTION AGREEMENT

    (Employees)

    

               This
Stock Option Agreement (the “Option Agreement”) is
between Logitech International S.A., a Swiss company, (the “Company”), and the
Optionee named below and is made pursuant to the Logitech International S.A.
2006 Stock Incentive Plan (the “Plan”). To the extent
any capitalized terms used in this Option Agreement are not defined, they shall
have the meaning given to them in the Plan.  Subject to Section 20(c)
of the Plan, in the event of a conflict between the terms and conditions of the
Plan and the terms and conditions of this Option Agreement, the terms of the
Plan shall prevail.

    

               In
consideration of the mutual agreements herein contained and intending to be
legally bound hereby, the parties agree as follows:

    

    1.           Grant of Option. The
Company hereby grants to the Optionee named below an option (the “Option”) to purchase
up to the number of Shares and at an exercise price per Share specified below,
subject to the terms and conditions of this Option Agreement and of the Plan,
which is incorporated in this Option Agreement by reference:

    

    Optionee’s
Name:                                                                

    

    Grant
Date:                                                                

     

    Vesting
Commencement
Date:                                                                           

    

    Exercise
Price per
Share:                                                                

     

    Total
Number of Options over Shares
granted:

    

    Total
Exercise
Price:                                                                           

    

    Expiration
Date:                                                                

     

    2. Vesting
Schedule.  This Option shall vest and become exercisable with
respect to 25% of the total Shares subject to this Option upon Optionee’s
completion of each year of Service measured from the Vesting Commencement Date,
until all Shares subject to this Option are vested in full (the “Vesting
Schedule”).  In no event shall the Option vest and become
exercisable for any additional Shares subject to the Option after Optionee’s
termination of Service. 

    

    3. Option
Term.  This Option has a maximum term of ten (10) years
measured from the Grant Date and accordingly expires at the close of business on
the Expiration Date, unless sooner terminated in accordance with Section
6.

     

     

     

    
      
        
        

      

      
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    4. Dates of
Exercise.  This Option shall vest and become exercisable for
the number of Shares subject to this Option in one or more installments as
specified in Section 2. As the Option becomes exercisable for such installments,
those installments shall accumulate and the Option shall remain exercisable for
the accumulated installments until the Expiration Date or sooner termination of
the Option under Section 6. As an administrative matter, the exercisable portion
of this Option may only be exercised until the close of the SIX Swiss Exchange
(if the Exercise Price per Share of this Option is in Swiss Francs) or the
Nasdaq Stock Market (if the Exercise Price per Share of this Option is in
dollars) on the last trading day on or before the Expiration Date or earlier
date of termination of the Option under Section 6.  Any later attempt
to exercise this Option will not be honored.

    

    5. Leave of Absence.
Unless otherwise determined by the Administrator, the following provisions shall
apply in the case of an authorized leave of absence by Optionee:

    

    (a) Subject
to Applicable Law and the terms of a written employment agreement, if any,
between the Optionee and the Company or a Subsidiary, no additional Shares
subject to this Option shall vest and become exercisable after the 120th day
of the leave of absence.  If Applicable Law or the terms of a written
employment agreement, if any, between the Optionee and the Company or a
Subsidiary provide for a later date upon which vesting may cease, then no
additional Shares subject to this Option shall vest and become exercisable upon
the earliest date possible under Applicable Law or the employment
agreement.

    

    (b) If
vesting has ceased under Section 5(a) and Optionee subsequently returns to
active Service, vesting of additional Shares subject to this Option shall resume
upon Optionee’s return to active Service. 

    

    (c) In no
event shall this Option vest and become exercisable for any additional Shares
subject to this Option, and in no event shall this Option remain outstanding, if
Optionee does not resume active Service prior to the Expiration Date.

     

    6. Termination of
Service.  This Option shall terminate prior to the Expiration
Date should any of the following provisions become applicable:

     

    (a) If
Optionee’s Service terminates for any reason (other than death or Disability)
while this Option is outstanding, then Optionee shall have a period of ninety
(90) days (starting with the date of termination of Service) during which to
exercise this Option, but in no event shall this Option be exercisable at any
time after the Expiration Date.

     

    (b) If
Optionee’s Service terminates by reason of the Optionee’s death while this
Option is outstanding, then the personal representative of Optionee’s estate or
the person or persons to whom the Option is transferred pursuant to Optionee’s
will or in accordance with the laws of descent and distribution shall have the
right to exercise this Option. Such right shall lapse, and this Option shall
cease to be outstanding, upon the earlier of (A) the expiration of the one (1)
year period measured from the date of Optionee’s death or (B) the Expiration
Date.

     

    (c) If
Optionee’s Service terminates by reason of Disability while this Option is
outstanding, then Optionee shall have a period of one (1) year (starting with
the date of such termination of Service) during which to exercise this Option,
but in no event shall this Option be exercisable at any time after the
Expiration Date.

     

     

    
      
        
        

      

      
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    (d)
Optionee’s date of termination of Service shall mean the date upon which
Optionee’s Service terminates or the Optionee ceases active performance of
services for the Company or any Subsidiary, regardless of any notice period or
period in lieu of notice of termination of employment, whether expressed or
implied, and subject to Section 5.  The Administrator shall have the
exclusive discretion to determine when the Optionee’s Service terminates or when
the Optionee has ceased active performance of services for purposes of this
Option Agreement.

     

    (e)
During the limited period of post-Service exercisability, this Option may not be
exercised in the aggregate for more than the number of vested Shares for which
the Option is exercisable at the time of Optionee’s termination of Service. Upon
the expiration of such limited exercise period or (if earlier) upon the
Expiration Date, this Option shall terminate and cease to be outstanding for any
vested Shares for which the Option has not been exercised. However, this Option
shall, immediately upon Optionee’s termination of Service for any reason,
terminate and cease to be outstanding with respect to any Shares in which
Optionee is not otherwise at that time vested or for which this Option is not
otherwise at that time exercisable.

    

    (f) If at
any time (including after a notice of exercise has been delivered) the
Administrator reasonably believes that Optionee has committed an act of
misconduct as described in this Section 6(f), the Administrator may suspend the
Optionee’s right to exercise this Option, pending a determination of whether an
act of misconduct has been committed.  If the Administrator determines
that a Participant, other than an independent Director, has committed an act of
embezzlement, fraud or breach of fiduciary duty, or if a Participant makes an
unauthorized disclosure of any trade secret or confidential information of the
Company or any of its Subsidiaries, or induces any customer to breach a contract
with the Company or any of its Subsidiaries, then this Option shall terminate
immediately and cease to be outstanding.  Any determination by the
Administrator with respect to the foregoing shall be final, conclusive and
binding on all interested parties. If Optionee holds the title of Vice President
or above the determination of the Administrator shall be subject to the approval
of the Board.

     

    7. Exercise of
Option.

    

    (a) Right to
Exercise.  This Option is exercisable during its term in
accordance with the Vesting Schedule and the applicable provisions of the Plan
and this Option Agreement.

    

    (b) Method of
Exercise.  In order to exercise this Option with respect to all
or any part of the Shares subject to this Option for which this Option is at the
time exercisable, Optionee (or any other person or persons having the right to
and exercising this Option) must take the following actions:

    

               (i)
Deliver to the local stock administrator an exercise notice, which may be by
electronic methods if specified by the Company, stating the election to exercise
the Option, the number of Shares in respect of which the Option is being
exercised and such other representations and agreements as may be required by
the Company pursuant to the provisions of the Plan, using the form prescribed by
Company, as amended from time to time.  However, if Company has
designated a brokerage firm to assist with Option exercises, Optionee may
provide exercise instructions to the Company-designated brokerage
firm.  The Company in its discretion may designate such a
broker-assisted exercise as the sole means by which to exercise this
Option.

    

               (ii) Pay
the aggregate Exercise Price for the purchased Shares by any of the following,
or a combination thereof, at the election of the Optionee:  (a) cash
or cash equivalents, (b) check, (c) with the Administrator’s consent, delivery
of the Optionee’s promissory note in the amount of the aggregate Exercise Price
of the purchased Shares or (d) consideration received by the Company under a
cashless exercise program implemented by the Company in connection with the
Plan.

     

     

     

    
      
        
        

      

      
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               (iii)
Make appropriate arrangements with the Company (or the Subsidiary employing or
retaining Optionee) for (a) the satisfaction of all tax withholding requirements
applicable to the Option exercise, or (b), subject to Applicable Laws, the
payment of an amount to the Company or the Subsidiary equal to the amount of the
tax obligations of the Company or of the Subsidiary in connection with the
grant, vesting, exercise, purchase or sale of an Award to or by the Optionee
under the Plan or in connection with the sale of Shares resulting from the
exercise of the Option.

    

    (c) No Fractional
Shares.  In no event may this Option be exercised for any
fractional Shares.

    

                   
(d) Share
Delivery, Deemed Transfer Date.   As soon as practicable
after the exercise date, the Company shall issue or deliver to or on behalf of
Optionee (or any other person or persons having the right to and exercising this
Option) the purchased Shares.  For income tax purposes the purchased
Shares shall be considered transferred to the Optionee on the date the Option is
exercised with respect to such purchased Shares.

    

    8. Compliance with Applicable
Laws; No Company Liability.  No Shares shall be issued or
delivered pursuant to the exercise of this Option unless such issuance or
delivery and exercise complies with Applicable Laws.  The Company
shall not be liable to Optionee or other persons as to: (a) the non-issuance or
sale of Shares as to which the Company has been unable to obtain from any
regulatory body having jurisdiction the authority deemed by the Company’s
counsel to be necessary to the lawful issuance and sale of any Shares hereunder;
and (b) any tax consequence expected, but not realized, by Optionee or other
person due to the receipt or exercise of this Option.

    

    9. Non-Transferability of
Option.  This Option may not be transferred in any manner
otherwise than by will or by the laws of descent or distribution, or, if Company
permits, by a written beneficiary designation.  This Option may be
exercised during the lifetime of Optionee only by the Optionee.  The
terms of the Plan and this Option Agreement shall be binding upon the executors,
administrators, heirs, beneficiaries, successors and assigns of the
Optionee.

    

    10. Taxes.

    

    (a) The tax
consequences to the Optionee as a result of the grant, vesting or exercise of
this Option will depend upon the laws of the country in which the Optionee is
subject to tax.  THE OPTIONEE SHOULD CONSULT A TAX ADVISER CONCERNING
THE GRANT, VESTING AND EXERCISE OF THIS OPTION, AS WELL AS DISPOSITION OF THE
SHARES.

    

    (b) In
certain countries, there are payroll withholding requirements on the grant,
vesting, exercise, purchase or sale of an Award under the Plan.  If
this is required, the Company will withhold for appropriate social and other
taxes.  In certain countries, there are also reporting requirements
for employees on the grant, vesting, exercise, purchase or sale of an Award
under the Plan.  It is the Optionee’s responsibility to make the
proper reports.  The Company is not responsible for making reports on
the Optionee’s behalf and will not be liable for any loss the Optionee may incur
because such reports have not been made.

    

    (c) If the
Optionee is located in the United States, or otherwise subject to U.S. income
taxes, this Option is a Nonstatutory Stock Option.

     

     

     

    
      
        
        

      

      
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    (d) In
certain countries, there may be tax obligations on the Company or (or the
Subsdiary employing or retaining Optionee) in connection with the grant,
vesting, exercise, purchase, or sale of an Award to or by the Optionee under the
Plan or in connection with the sale of Shares resulting from the exercise of the
Option.  If there are such tax obligations, the Optionee agrees to
make arrangements satisfactory to the Company or the Subsidiary for the payment
of an amount equal to the amount of such tax obligations which, at the sole
discretion of the Company, may include (i) having the Company withhold
Shares from the settlement of the Option, (ii) the sale of Shares resulting from
the exercise of the Option, (iii) reimbursement through payroll deductions or
(iv) any other arrangement approved by the Company, in any case, equal in
value to the amount necessary to satisfy any such tax obligations. The Company
shall not be required to issue or deliver Shares pursuant to this Agreement
unless and until such arrangements are made.

    

    11. Adjustments Upon Changes in
Capitalization.   In the event of a declaration of a stock
dividend, a stock split, combination or reclassification of shares,
extraordinary dividend of cash and/or assets, recapitalization, reorganization
or any similar event affecting the Shares or other securities of the Company,
the Administrator shall equitably adjust the number and kind of Shares or other
securities which are subject to this Option, and/or the exercise price of this
Option, in order to reflect such change and thereby preclude a dilution or
enlargement of benefits under this Option.

    

    12. Entire Agreement; Governing
Law. The Plan and this Option Agreement constitute the entire agreement
of the parties with respect to the subject matter of this Option Agreement and
supersede in their entirety all prior undertakings and agreements of the Company
and the Optionee with respect to the subject matter of this Option Agreement,
and may not be modified adversely to the Optionee’s interest except by means of
a writing signed by the Company and the Optionee.  This Option
Agreement is governed by the internal substantive laws, but not the
choice-of-law rules, of Switzerland (the Company’s jurisdiction of
organization).

    

    13. NO GUARANTEE OF CONTINUED
SERVICE.  THE OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING
OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING
AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (AND NOT THROUGH THE ACT OF
BEING HIRED, BEING GRANTED AN OPTION OR PURCHASING SHARES
HEREUNDER).  THE OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT THIS
AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET
FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED
SERVICE FOR THE VESTING PERIOD, FOR ANY PERIOD OR AT ALL, AND SHALL NOT
INTERFERE WITH THE OPTIONEE’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE THE
OPTIONEE’S SERVICE AT ANY TIME, WITH OR WITHOUT CAUSE.

    

    14. No Entitlement or
Claims for
Compensation.

    

    (a) Optionee’s
rights, if any, in respect of or in connection with this Option or any other
Award is derived solely from the discretionary decision of the Company to permit
Optionee to participate in the Plan and to benefit from a discretionary Award.
By accepting this Option, Optionee expressly acknowledges that there is no
obligation on the part of the Company to continue the Plan and/or grant any
additional Awards to Optionee. This Option is not intended to be compensation of
a continuing or recurring nature, or part of Optionee’s normal or expected
compensation, and in no way represents any portion of a Optionee’s salary,
compensation, or other remuneration for purposes of calculating any severance,
resignation, redundancy or end-of-service payments, bonuses, long-service
awards, pension or retirement benefits, or similar payments or for any other
purpose.

     

     

    
      
        
        

      

      
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    (b)  Optionee
shall be deemed irrevocably to have waived any claim to damages or specific
performance for breach of contract or dismissal, compensation for loss of
office, tort or otherwise with respect to the Plan, this Option or any
outstanding Award that is forfeited and/or is terminated by its terms or to any
future Award.

    

    (c) Optionee
agrees that the Company may require Options granted hereunder be exercised with,
and the purchased Shares held by, a broker designated by the Company. In
addition, Optionee agrees that his or her rights hereunder shall be subject to
set-off by the Company for any valid debts the Optionee owes to the
Company.

    

    15. Data
Privacy.

    

    (a) Optionee
hereby consents to the collection, processing, use and transfer, in electronic
or other form, of Optionee’s personal information (the “Data”) regarding
Optionee’s employment, the nature and amount of Optionee’s compensation and the
fact and conditions of Optionee’s participation in the Plan (including
Optionee’s name, home address, telephone number, date of birth, social insurance
number or other identification number, compensation, nationality and job title,
details of all options, shares or other entitlement to securities awarded,
canceled, exercised, vested, unvested or outstanding under the Plan or
predecessor plans), by and among the Company and one or more its Subsidiaries
and Affiliates, for the exclusive purpose of implementing, administering and
managing Optionee’s participation in the Plan and in calculating the cost of the
Plan.

    

    (b) Optionee
further consents to the transfer of the Data to UBS AG and/or its affiliates
(“UBS”), or to
any other third parties assisting in the implementation, administration and
management of the Plan, or in calculating the costs of the Plan, including any
other third party assisting with the exercise of Options under the Plan or with
whom Shares acquired upon exercise of this Option or cash from the sale of such
shares may be deposited.  Optionee further consents to the processing,
possession, use and transfer of the Data by UBS and such other third parties for
the exclusive purpose of implementing, administering and managing Optionee’s
participation in the Plan and in calculating the cost of the Plan.

    

    (c) Optionee
understands and agrees that the recipients of the Data may be located in the
United States or elsewhere, and that the recipients’ country may have different
data privacy laws and protections than the Optionee’s country, and Optionee
consents to the transfer of the Data to such countries.  Furthermore,
Optionee acknowledges and understands that the transfer of the Data to the
Company or any of its Subsidiaries, or to UBS or any such third parties, is
necessary for Optionee’s participation in the Plan.

    

    (d) Optionee
understands that he or she may, at any time, view Data, request additional
information about the storage and processing of Data or require any necessary
amendments to Data  or withdraw the consents herein, in any case
without cost, by contacting the Optionee’s local human resources representative
in writing.  Optionee further acknowledges that withdrawal of consent
may affect Optionee’s ability to exercise or realize benefits from the Option,
and Optionee’s ability to participate in the Plan.

     

     

    
      
        
        

      

      
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    16. Repatriation of
Profits.  In certain countries, persons employed in those
countries are responsible for bringing back into the country the proceeds of any
investments abroad that have been received as a result of the exercise of an
award under the Plan.  If any foreign exchange control approval,
consent or permission is required for the exercise of a purchase right or option
under the Plan, the Optionee is responsible for obtaining all such approvals,
consents and permissions.  The Company is not responsible for this
activity and will not be liable for any loss that the Optionee incurs because
such approvals have not been obtained.

    

    17. Further
Instruments.  The parties agree to execute such further
instruments and to take such further action as may be reasonably necessary to
carry out the purposes and intent of this Option Agreement.

    

               By
Optionee’s agreement to this Option Agreement, the Optionee agrees that this
Option is granted under and governed by the terms and conditions of the Plan and
this Option Agreement.  The Optionee has reviewed the Plan and this
Option Agreement in their entirety, has had an opportunity to obtain the advice
of counsel prior to executing this Option Agreement and fully understands all
provisions of the Plan and Option Agreement.  The Optionee hereby
agrees to accept as binding, conclusive and final all decisions or
interpretations of the Administrator upon any questions relating to the Plan and
Option Agreement.

    

    If you do not agree to this
Option Agreement within 90 days after the Grant Date set out on the first page
of this Option Agreement, this Option will be cancelled and of no
effect.

     

    
      
         

      

      
        7ex103.htm

    
      

      

    

    

      EXHIBIT
10.3

       

      LOGITECH
INTERNATIONAL S.A. 2006 STOCK INCENTIVE PLAN

       

      RESTRICTED
STOCK UNIT AGREEMENT

       

      (NON-EXECUTIVE
BOARD MEMBER PARTICIPANT)

       

                 This
Restricted Stock Unit Agreement, including any country-specific terms and
conditions set forth in the attached Appendix A (collectively, the “Agreement”) is
between Logitech International S.A., a Swiss company (the “Company”), and the
Participant named below and is made pursuant to the Logitech International S.A.
2006 Stock Incentive Plan (the “Plan”).  To
the extent any capitalized terms used in this Agreement are not defined, they
shall have the meaning given to them in the Plan.  Subject to
Section 20(c) of the Plan, in the event of a conflict between the terms and
conditions of the Plan and the terms and conditions of this Agreement, the terms
of the Plan shall prevail.

       

                 In
consideration of the mutual agreements herein contained and intending to be
legally bound hereby, the parties agree as follows:

       

      1. Grant of Restricted Stock
Units.  The Company hereby grants to the Participant named
below the number of Restricted Stock Units corresponding to Shares specified
below, subject to the terms and conditions of this Agreement and of the Plan,
which is incorporated in this Agreement by reference:

       

      Participant’s
Name:                                                                             

       

      Grant
Date:                                                                             

       

      Vesting
Start
Date:                                                                             

       

      Total
Number of Restricted
Stock                                                                             

       

      Units
granted

       

      2. Vesting. The
Restricted Stock Units subject to this Award shall vest with respect to 100% of
the total Restricted Stock Units subject to this Award upon Participant’s
completion of one year of Service measured from the Vesting Start
Date.  In no event shall any Restricted Stock Units vest after the
Participant’s termination of Service.

       

      3. Settlement of Vested
Restricted Stock Units.  The Participant’s vested Restricted
Stock Units shall be settled in Shares upon vesting of such Restricted Stock
Units, provided that the Company shall have no obligation to issue Shares
pursuant to this Agreement unless and until Participant has satisfied any
applicable tax and/or other obligations pursuant to Section 8 below and
such issuance otherwise complies with Applicable Law.

       

      4. Nature of Restricted Stock
Units.  The Restricted Stock Units are mere bookkeeping entries
and represent only an unfunded and unsecured obligation of the Company to issue
or deliver Shares on a future date.  As a holder of Restricted Stock
Units, the Participant has no rights other than the rights of a general creditor
of the Company.  The Restricted Stock Units carry neither voting
rights nor rights to cash or other dividends.  The Participant has no
rights as a shareholder of the Company by virtue of the Restricted Stock Units
unless and until the Restricted Stock Units are settled by issuing or delivering
Shares.

       

      5. Leave of
Absence.  Unless otherwise determined by the Administrator, the
following provisions shall apply in the case of an authorized leave of absence
by Participant:

       

       

      
        
          
          

        

        
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          (a) Subject
to Applicable Law and the terms of a written employment agreement, if any,
between the Participant and the Company or a Subsidiary, no additional
Restricted Stock Units subject to this Award shall vest after the 120th day
of the leave of absence.  If Applicable Law or the terms of a written
employment agreement, if any, between the Participant and the Company or a
Subsidiary provide for a later date upon which vesting may cease, then no
additional Restricted Stock Units subject to this Award shall vest upon the
earliest date possible under Applicable Law or the employment
agreement.

         

          (b) If
vesting has ceased under Section 5(a) and Participant subsequently returns to
active Service, vesting of additional Restricted Stock Units subject to this
Award shall resume upon Participant’s return to active Service.

         

          (c) In no
event shall this Award vest for any additional Restricted Stock Units subject to
this Award, and in no event shall this Award remain outstanding, if Participant
does not resume active Service prior to the Expiration Date.

      

      6. Termination of
Service.  If the Participant’s Service terminates for any
reason (including by reason of death or Disability) all unvested Restricted
Stock Units shall be forfeited effective on the date the Participant’s Service
terminates.  The Participant’s date of termination of Service shall
mean the date upon which Participant’s Service terminates, regardless of any
notice period or period in lieu of notice of termination of employment, whether
expressed or implied. The Administrator shall have the exclusive discretion to
determine when the Participant’s Service terminates or when the Participant has
ceased active performance of services for purposes of this Award.

       

      7. Suspension or Cancellation
for Misconduct.  If at any time (including after vesting but
before settlement) the Administrator reasonably believes that the Participant
has committed an act of misconduct as described in this Section 7, the
Administrator may suspend the vesting or settlement of Restricted Stock Units,
pending a determination of whether an act of misconduct has been
committed.  If the Administrator determines that the Participant,
other than an independent Director, has committed an act of embezzlement, fraud
or breach of fiduciary duty, or if the Participant makes an unauthorized
disclosure of any trade secret or confidential information of the Company or any
of its Subsidiaries, or induces any customer to breach a contract with the
Company or any of its Subsidiaries or Affiliates, then this Agreement shall
terminate immediately and cease to be outstanding.  Any determination
by the Administrator with respect to the foregoing shall be final, conclusive
and binding on all interested parties.  If the Participant holds the
title of Vice President or above, the determination of the Administrator shall
be subject to the approval of the Company’s Board of Directors.

       

      8. Responsibility for
Taxes.

       

      (a)
Regardless of any action the Company or the Participant’s
employer (the “Employer”) takes with
respect to any or all income tax, social insurance, payroll tax, payment on
account or other tax-related items related to the Participant’s participation in
the Plan and legally applicable to the Participant (“Tax-Related Items”),
the Participant acknowledges that the ultimate liability for all Tax-Related
Items is and remains the Participant’s responsibility and may exceed the amount
actually withheld by the Company or the Employer.  The Participant
further acknowledges that the Company and/or the Employer (1) make no
representations or undertakings regarding the treatment of any Tax-Related Items
in connection with any aspect of the Restricted Stock Units, including, but not
limited to, the grant, vesting or settlement of the Restricted Stock Units, the
issuance of Shares upon settlement of the Restricted Stock Units, the subsequent
sale of Shares acquired pursuant to such issuance and the receipt of any
dividends and/or any dividend equivalents; and (2) do not commit to and are
under no obligation to structure the terms of the Award or any aspect of the
Restricted Stock Units to reduce or eliminate the Participant’s liability for
Tax-Related Items or achieve any particular tax result.  Further, if
the Participant has become subject to tax in more than one jurisdiction between
the date of grant and the date of any relevant taxable event, the Participant
acknowledges that the Company and/or the Employer (or
former employer, as applicable) may be required to withhold or account for
Tax-Related Items in more than one jurisdiction.

       

       

       

      
        
          
          

        

        
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      (b) Prior
to any relevant taxable or tax withholding event, as applicable, the Participant
will pay or make adequate arrangements satisfactory to the Company and/or the
Employer to satisfy all Tax-Related Items.  In this regard, the
Participant authorizes the Company and/or the Employer, or their respective
agents, at their discretion, to satisfy the obligations with regard to all
Tax-Related Items by one or a combination of the following:  (1)
withholding from the Participant’s wages or other cash compensation paid to the
Participant by the Company and/or the Employer; or (2) withholding from proceeds
of the sale of Shares acquired upon vesting/settlement of the Restricted Stock
Units either through a voluntary sale or through a mandatory sale arranged by
the Company (on the
Participant’s behalf pursuant to this authorization); or (3) withholding in
Shares to be issued upon vesting/settlement of the Restricted Stock
Units.  To avoid negative accounting treatment, the Company may
withhold or account for Tax-Related Items by considering applicable minimum
statutory withholding amounts or other applicable withholding
rates.  If the obligation for Tax-Related Items is satisfied by
withholding in Shares, for tax purposes, the Participant is deemed to have been
issued the full number of Shares subject to the vested Restricted Stock Units,
notwithstanding that a number of the Shares are held back solely for the purpose
of paying the Tax-Related Items due as a result of any aspect of the
Participant’s participation in the Plan.

       

      (c)
Finally, the Participant shall pay to the Company or the Employer any amount of
Tax-Related Items that the Company or the Employer may be required to withhold
or account for as a result of the Participant’s participation in the Plan that
cannot be satisfied by the means previously described.  The Company
may refuse to issue or deliver the shares or the proceeds of the sale of Shares,
if the Participant fails to comply with the Participant’s obligations in
connection with the Tax-Related Items.

       

      9. Compliance with Applicable
Laws; no Company Liability.  No Shares shall be issued or
delivered pursuant to the settlement of the Restricted Stock Units unless such
issuance or delivery complies with Applicable Laws.  The Company shall
not be liable to the Participant or other persons as to (a) the
non-issuance or delivery of Shares as to which the Company has been unable to
obtain from any regulatory body having jurisdiction the authority deemed by the
Company’s counsel to be necessary to the lawful issuance or delivery of any
Shares hereunder and (b) any tax consequence expected, but not realized, by
the Participant or other person due to the receipt, vesting or settlement of the
Restricted Stock Units.

       

      10. Non-Transferability of
Restricted Stock Units.  The Restricted Stock Units and this
Agreement may not be transferred in any manner otherwise than by will, by the
laws of descent or distribution or, if the Company permits, by a written
beneficiary designation.  The terms of the Plan and this Agreement
shall be binding upon the executors, administrators, heirs, beneficiaries,
successors and assigns of the Participant.

       

      11. No Advice Regarding
Grant.  The Company is not providing any tax, legal or
financial advice, nor is the Company making any recommendations regarding the
Participant’s participation in the Plan, or the Participant’s acquisition or
sale of the underlying Shares.  The Participant is hereby advised to
consult with his or her own personal tax, legal and financial advisors regarding
his or her participation in the Plan before taking any action related to the
Plan.

       

      12. Nature of
Grant.  In accepting the grant, the Participant acknowledges
that:

       

      (a).
the Plan
is established voluntarily by the Company, it is discretionary in nature and it
may be modified, amended, suspended or terminated by the Company at any
time;

       

      (b). the grant
of the Restricted Stock Units is voluntary and occasional and does not create
any contractual or other right to receive future grants of Restricted Stock
Units, or benefits in lieu of Restricted Stock Units, even if Restricted Stock
Units have been granted repeatedly in the past;

       

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      (c). all
decisions with respect to future Restricted Stock Units grants, if any, will be
at the sole discretion of the Company;

       

      (d). the
Participant’s participation in the Plan shall not create a right to further
Service with the Employer and shall not interfere with the ability of the
Employer to terminate the Participant’s employment relationship at any
time;

       

      (e). the
Participant is voluntarily participating in the Plan;

       

      (f). the
Restricted Stock Units and the Shares subject to the Restricted Stock Units are
extraordinary items that do not constitute compensation of any kind for services
of any kind rendered to the Company or the Employer, and
which are outside the scope of the Participant’s employment contract, if
any;

       

      (g). the
Restricted Stock Units and the Shares subject to the Restricted Stock Units are
not intended to replace any pension rights or compensation;

       

      (h). the
Restricted Stock Units and the Shares subject to the Restricted Stock Units are
not part of normal or expected compensation or salary for any purposes,
including, but not limited to, calculating any severance, resignation,
termination, redundancy, dismissal, end of service payments, bonuses,
long-service awards, pension or retirement or welfare benefits or similar
payments and in no event should be considered as compensation for, or relating
in any way to, past services for the Company, the Employer or any
Subsidiary or Affiliate of the Company ;

       

      (i). the
Restricted Stock Units grant and the Participant’s participation in the Plan
will not be interpreted to form an employment contract or relationship with the
Company or any
Subsidiary or Affiliate of the Company;

       

      (j). the future
value of the underlying Shares is unknown and cannot be predicted with
certainty; and

       

      (k). in
consideration of the grant of the Restricted Stock Units, no claim or
entitlement to compensation or damages shall arise from forfeiture of the
Restricted Stock Units resulting from termination of the Participant’s Service
with the Company or the Employer (for any reason whatsoever and whether or not
in breach of local labor laws) and the Participant irrevocably releases the
Company and the
Employer from any such claim that may arise; if, notwithstanding the foregoing,
any such claim is found by a court of competent jurisdiction to have arisen, the
Participant shall be deemed irrevocably to have waived his or her entitlement to
pursue such claim.

       

      13. Data Privacy

       

      (a) The
Participant hereby consents to the collection, processing, use and transfer, in
electronic or other form, of the Participant’s personal information (the “Data”) regarding the
Participant’s employment, the nature and amount of the Participant’s
compensation and the fact and conditions of the Participant’s participation in
the Plan (including the Participant’s name, home address, telephone number, date
of birth, social insurance number or other identification number, compensation,
nationality and job title, details of all options, shares or other entitlement
to securities awarded, canceled, exercised, vested, unvested or outstanding
under the Plan or predecessor plans), by and among the Company and one or more
its Subsidiaries and Affiliates, for the exclusive purpose of implementing,
administering and managing the Participant’s participation in the Plan and in
calculating the cost of the Plan.

       

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

       

       

      (b) The
Participant further consents to the transfer of the Data to UBS AG and/or its
affiliates (“UBS”), or to any
other third parties assisting in the implementation, administration and
management of the Plan, or in calculating the costs of the Plan, including any
other third party assisting with the settlement of Restricted Stock Units under
the Plan or with whom Shares acquired upon settlement of the Restricted Stock
Units or cash from the sale of such shares may be deposited.  The
Participant further consents to the processing, possession, use and transfer of
the Data by UBS and such other third parties for the exclusive purpose of
implementing, administering and managing the Participant’s participation in the
Plan and in calculating the cost of the Plan.

       

      (c)
The
Participant understands and agrees that the recipients of the Data may be
located in the United States or elsewhere, and that the recipients’ countries
may have different data privacy laws and protections than the Participant’s
country, and the Participant consents to the transfer of the Data to such
countries.  Furthermore, the Participant acknowledges and understands
that the transfer of the Data to the Company or any of its Subsidiaries, or to
UBS or any such third parties, is necessary for the Participant’s participation
in the Plan.

       

      (d) The
Participant understands that he or she may, at any time, view Data, request
additional information about the storage and processing of Data or require any
necessary amendments to Data or withdraw the consents herein, in any case
without cost, by contacting the Participant’s local human resources
representative in writing.  The Participant further acknowledges that
withdrawal of consent may affect the Participant’s ability to exercise or
realize benefits from the Restricted Stock Units, and the Participant’s ability
to participate in the Plan.

       

      14. Exchange Control
Acknowledgement.  Local foreign exchange laws may affect the
grant of the Restricted Stock Units, the sale of Shares received in connection
with the Restricted Stock Units and/or the receipt of dividends or dividend
equivalents (if any).  Such laws may affect the Participant’s ability
to hold funds outside of the Participant’s country and may require the
repatriation of any cash, dividends or dividend equivalents received in
connection with the Restricted Stock Units.  The Participant is
responsible for satisfying any exchange control requirements that may be
necessary in connection with such events.  Neither the Company nor any
of its Subsidiaries or Affiliates will be responsible for such requirements or
liable for the failure on the Participant’s part to satisfy or abide by the
requirements that are the Participant’s responsibility.  Neither this
nor anything in this Agreement constitutes legal or tax advice upon which the
Participant should rely.  The Participant should consult with his or
her own personal legal and tax advisers to ensure compliance with local
laws.

       

      15. Adjustments Upon Changes in
Capitalization.  In the event of a declaration of a stock
dividend, a stock split, combination or reclassification of shares,
extraordinary dividend of cash and/or assets, recapitalization, reorganization
or any similar event affecting the Shares or other securities of the Company,
the Administrator shall equitably adjust the number and kind of Restricted Stock
Units or other securities which are subject to this Agreement, in order to
reflect such change and thereby preclude a dilution or enlargement of benefits
under this Agreement.

       

      16. Entire Agreement; Governing
Law.  The Plan and this Agreement constitute the entire
agreement of the parties with respect to the subject matter of this Agreement
and supersede in their entirety all prior undertakings and agreements of the
Company and the Participant with respect to the subject matter of this
Agreement.  This Agreement is governed by the internal substantive
laws, but not the choice of law rules of Switzerland (the Company’s jurisdiction
of organization).

       

      17. Language.  If
the Participant has received this Agreement or any other document related to the
Plan translated into a language other than English and if the meaning of the
translated version is different than the English version, the English version
will control.

       

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

       

       

      18. Electronic
Delivery.  The Company may, in its sole discretion, decide to
deliver any documents related to current or future participation in the Plan by
electronic means.  The Participant hereby consents to receive such
documents by electronic delivery and agrees to participate in the Plan through
an on-line or electronic system established and maintained by the Company or a
third party designated by the Company.

       

      19. Severability.  The
provisions of this Agreement are severable and if any one or more provisions are
determined to be illegal or otherwise unenforceable, in whole or in part, the
remaining provisions shall nevertheless be binding and enforceable.

       

      20. Appendix.  Notwithstanding
any provisions in this Agreement, the Restricted Stock Units grant shall be
subject to any special terms and conditions set forth in any Appendix to this
Agreement for the Participant’s country.  Moreover, if the Participant
relocates to one of the countries included in the Appendix, the special terms
and conditions for such country will apply to the Participant, to the extent the
Company determines that the application of such terms and conditions is
necessary or advisable in order to comply with local law or facilitate the
administration of the Plan.  The Appendix constitutes part of this
Agreement.

       

      21. Imposition of Other
Requirements. The Company reserves the
right to impose other requirements on the Participant’s participation in the
Plan, on the Restricted Stock Units and on any Shares acquired under the Plan,
to the extent the Company determines it is necessary or advisable in order to
comply with local law or facilitate the administration of the Plan, and to
require the Participant to sign any additional agreements or undertakings that
may be necessary to accomplish the foregoing.

       

      *   *   *

      By the
Participant’s signature below, the Participant agrees that the Restricted Stock
Units are granted under and governed by the terms and conditions of the Plan and
this Agreement.  The Participant has reviewed the Plan and this
Agreement in their entirety, has had an opportunity to obtain the advice of
counsel prior to executing this Agreement and fully understands all provisions
of the Plan and Agreement.  The Participant hereby agrees to accept as
binding, conclusive and final all decisions or interpretations of the
Administrator upon any questions relating to the Plan and
Agreement.

       

      

      
        	
                PARTICIPANT:

              	 
      	
                THE COMPANY:

              
	 
      	 
      	 
      
	
                Signature

              	 
      	
                By

              
	 
      	 
      	
                 

                Chairman

              
	
                Print
      Name

              	 
      	
                Title

              
	 
      	 
      	 
      
	 
      	 
      	
                By

              
	 
      	 
      	
                 

                CEO

              
	 
      	 
      	
                Title

              

      

       
 

      

       

      

       

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      APPENDIX
A

       

      ADDITIONAL
TERMS AND CONDITIONS OF

      RESTRICTED
STOCK UNIT AGREEMENT

      

       

      None.

       

      

      
        
           

        

        
          7

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