Document:

exv10w01

 

FISHER SCIENTIFIC INTERNATIONAL INC.

2005 EQUITY AND INCENTIVE PLAN

RESTRICTED STOCK UNIT AGREEMENT

     This RESTRICTED STOCK UNIT AGREEMENT (this “Agreement”), dated as of the       day of                     ,
2005, is entered into by and between Fisher Scientific International Inc., a Delaware corporation
(the “Company”), and                      (the “Grantee” and, together with the Company, the “Parties”).

RECITALS

     A. The Company has adopted and approved the Fisher Scientific International Inc. 2005 Equity &
Incentive Plan (the “Plan”), a copy of which is attached to this Agreement; and

     B. The Committee appointed to administer the Plan has determined that Grantee is eligible to
participate in the Plan and that it would be to the advantage and best interest of the Company and
its stockholders to grant the award of Restricted Stock Units (as defined below) provided for
herein to Grantee; and

     C. This Agreement is prepared in conjunction with and under the terms of the Plan. Terms used
herein but not otherwise defined herein shall have the meanings ascribed to such terms in the Plan;
and

     D. Grantee has accepted the grant of the Restricted Stock Units and agreed to the terms and
conditions hereinafter stated.

     NOW THEREFORE, IN CONSIDERATION OF THE FOREGOING RECITALS AND OF THE PROMISES AND CONDITIONS
HEREIN CONTAINED, IT IS AGREED AS FOLLOWS:

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     1. Grant of Restricted Stock Units. Subject to the provisions of this Agreement, the
provisions of the Plan, and the provisions of the Company’s current agreement relating to
intellectual property, confidential information conflicts of interest, competitive activities and
release in effect at the time between the Company and [                    ], the Company has granted
effective [                    ] (the “ Grant Date”) units evidencing a right to receive [          ]
shares of common stock of the Company (the “Common Stock”) pursuant to the terms and
conditions of this Agreement (the “Restricted Stock Units” or “Restricted Stock Unit Award”).

     2. Restrictions
and Vesting Period.

     (a) Restrictions. The Restricted Stock Units granted hereunder may not be sold,
assigned, transferred, pledged, hypothecated or otherwise encumbered or disposed of, other than by
will or the laws of descent and distribution.

     (b) Vesting Period. Subject to the forfeiture provisions set forth in Section 4(a),
the Restricted Stock Units shall become vested on [     ] anniversary of the Grant Date.

     3. No Stockholder Rights. Grantee shall have no rights of a stockholder of the
Company with respect to the Restricted Stock Units, including, but not limited to, the rights to
vote and receive ordinary dividends, until the date of issuance of a stock certificate for such
shares. In the event that the Committee approves an adjustment to the Restricted Stock Unit Award
pursuant to Section 5(b) of the Plan, then in such event, any and all new, substituted or
additional securities to which Grantee is entitled by reason of the Restricted Stock Unit Award
shall be immediately subject to the Restrictions and Vesting Period with the same force and effect
as the Restricted Stock Unit Award subject to such Restrictions immediately before such event.

     4. Cessation of Employment.

     (a) Forfeiture. If the Grantee’s employment or service with the Company or any
Subsidiary or Affiliate is terminated at any time while the Grantee is entitled to shares pursuant
to this Restricted Stock Unit Award for any reason other than those set forth in Section 4(b) of
this Agreement, then any unvested Restricted Stock Units pursuant to the Restricted Stock Unit Award shall be
forfeited to the Company and neither the Grantee nor any of Grantee’s successors, heirs, assigns,
or personal representatives shall thereafter have any further rights or interests in such
Restricted Stock Unit Award.

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     (b) Accelerated Vesting. If the Grantee’s employment or service with the Company or
any Subsidiary or Affiliate is terminated as a result of the Grantee’s death or Disability, the
Restricted Stock Units shall immediately vest in full.

     5. Certificates. Upon vesting, the Company will issue a stock certificate for the
shares of Common Stock represented by this Agreement net of any shares withheld to satisfy payment
of mandatory taxes due from Grantee as described in Section 6 of this Agreement. If the Company
does not elect to withhold shares to satisfy the payment of mandatory taxes, upon vesting, the
Company will issue a stock certificate for the shares of Common Stock represented by this
Agreement, upon receipt of payment of the applicable taxes due from Grantee as set forth in Section
6 of this Agreement.

     6. Taxes. The Grantee shall pay to the Company promptly upon request, at the time the
Grantee recognizes taxable income as a result of the issuance of shares representing the Restricted
Stock Units granted herein, an amount equal to the federal, state and/or local taxes the Company
determines it is required to withhold under applicable tax laws. In lieu of collecting payment
from the Grantee, the Company may, in its discretion, distribute vested shares of Common Stock net
of the number of whole shares of Common Stock the fair market value of which is equal to the
minimum amount of federal, state and local taxes required to be withheld under applicable tax laws.

     7. Restrictive Covenants. If the Grantee engages in any conduct in breach of any
noncompetition, nonsolicitation or confidentiality obligations to the Company under any agreement,
policy or plan (including the agreement relating to intellectual property, confidential
information, conflicts of interest, competitive activities and release in effect at the time), then
such conduct shall also be deemed to be a breach of the terms of the Plan and this Agreement. Upon
such breach, any unvested shares of this Restricted Stock Unit Award and any shares that vested
within a period of 18 months prior to such breach shall be forfeited to the Company upon demand and
any amounts realized upon the sale of such vested shares shall be returned to the Company upon
demand.

     8. Miscellaneous.

     (a) Incorporation of Plan. This Agreement is made under the provisions of the Plan
(which is incorporated herein by reference) and shall be interpreted in a manner consistent with
it. To the extent that this Agreement is silent with respect to, or in any way inconsistent with,
the terms of the Plan, the

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       provisions of the Plan shall govern and this Agreement shall be deemed to be modified
accordingly.

     (b) Notices. Any notice to be given under the terms of this Agreement shall be in
writing and addressed to the Company at Liberty Lane, Hampton, New Hampshire 03842, Attention:
Corporate Secretary, and to Grantee at the address set forth below or at such other address as
either party may hereafter designate in writing to the other by like notice.

     (c) Successor. Except as otherwise provided hereunder, this Agreement shall be
binding upon and shall inure to the benefit of any successor or successors of the Company.

     (d) Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of Delaware. The Committee shall have final authority to interpret and
construe the Plan and this Agreement and to make any and all determinations under them, and its
decision shall be binding and conclusive upon the Grantee and the Grantee’s legal representative
in respect of any questions arising under the Plan or the Grantee’s Agreement.

     (e) Amendment. This Agreement may not be amended in any manner except by an
instrument in writing signed by both parties hereto. The waiver by either party of compliance
with any provision of this Agreement shall not operate or be construed as a waiver of any other
provision of this Agreement or of any subsequent breach of such party of a provision of this
Agreement.

(Remainder of page intentionally left blank)

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     IN WITNESS WHEREOF, the Company has caused this Agreement to be executed on its behalf by a
duly authorized officer and Grantee has hereunto set Grantee’s hand.

	 	 	 	 	 
	 	FISHER SCIENTIFIC

INTERNATIONAL INC.

 	 
	 	BY:  	 	 
	 	 	 	 
	 	 	 	 
	 

	 	 	 
	 

Signature of Grantee:

	 	  
	Print name of Grantee

	 	 
	 
	 	 
	 
	 	 
	 

Address

	 	  
	 
	 	 
	 
	 	 
	 

	 	 
	 
	 	 
	 

Social Security Number

	 	  

5<PAGE>

                                                                    EXHIBIT 10.1

(ENTERASYS LOGO)

                   ENTERASYS PERFORMANCE INCENTIVE PLAN (EPIP)

PURPOSE

Provide an outcome-based annual cash incentive to key employees for their
contributions to the success and profitability of Enterasys Networks. This Plan
is intended to provide participants with an opportunity to receive above average
incentive compensation for above average performance, with lower levels of
incentive compensation associated with lower levels of performance.

EFFECTIVE DATE

This plan is effective as of January 2, 2005, for the fiscal year ending
December 31, 2005.

ELIGIBILITY

Full-time executives, managers and key employees not participating in any other
cash incentive compensation plan unless such other plan expressly provides for
participation in EPIP. Non-exempt employees are not eligible to participate in
this plan.

INCENTIVE TARGETS

A participant's target cash incentive compensation opportunity, which is set
individually within each Tier specified below, will range from 10% to 200% of
base salary, depending upon position and role (see guide chart below):

<TABLE>
<CAPTION>
 Tier             Position/Job Level                           Incentive Target Range*
 ----             ------------------                           ----------------------
<S>          <C>                                       <C>
  I          Executive Chairman                        As determined by Compensation Committee
             President / Chief Executive Officer                        200%
  II         Senior / Executive Vice President                       60% - 100%
  III        Director / Vice President                                40% - 70%
  IV         Manager / Key Employee                                   20% - 50%
  V          Individual Contributors                                  10% - 20%
</TABLE>

--------------------

* Expressed as a percentage of Base Salary

<PAGE>

INCENTIVE PLAN ELEMENTS

EPIP has two elements: (i) overall funding of the EPIP on an aggregate basis,
and (ii) individual annual incentive awards (which, in the aggregate, may be
less than but may not exceed actual aggregate EPIP funding). Maximum aggregate
EPIP funding will be equal to the aggregate of individual participant target
bonus amounts, plus any funding based on the occurrence of a qualifying Business
Combination as set forth below.

EPIP FUNDING

-     PERFORMANCE OBJECTIVES FUNDING FACTOR: The portion of EPIP funding
      relative to aggregate target levels allocable for awards based on
      Departmental KPI's/Individual Performance objectives (as described below)
      will be made in the exclusive discretion of the Board of Directors of
      Enterasys Networks, Inc. The portion of EPIP funding allocable for awards
      based on corporate financial performance objectives established by the
      Enterasys Networks, Inc. Board of Directors will be based on the Company's
      actual achievement of such financial performance objectives. The financial
      performance objectives for 2005 will be based on quarterly and
      year-to-date metrics for Revenue, Operating Profitability, and Free Cash
      Flow. Achieving funding at aggregate target levels will require financial
      performance substantially exceeding the Company's base annual operating
      plan objectives. Determination of achievement of specific corporate
      financial performance metrics is subject to the sole and exclusive
      discretion of the Board of Directors of Enterasys Networks, Inc.

-     CORPORATE TRANSACTION FUNDING FACTOR: In addition to funding based on
      achievement of Departmental KPI's/Individual Performance objectives and
      the Company's financial performance objectives, in the event of a merger
      or consolidation involving the Company, or a sale or other disposition of
      all or substantially all of the stock or assets of the Company
      (collectively, a "Business Combination") at any time during the fiscal
      year, provided that such Business Combination is approved in advance by
      the Enterasys Networks, Inc. Board of Directors and results in a transfer
      of ownership of more than 50% of the equity or assets of the Company to an
      individual, entity, or group of related individuals or entities, EPIP will
      be funded in an amount equal to 20% of aggregate individual EPIP target
      amounts.

-     PERIODIC ACCRUAL OF FUNDING. Accrual of funding will occur based on Board
      discretion, achievement of corporate financial performance targets and/or
      the occurrence of a qualifying Business Combination. Accrual of EPIP
      funding based on Board discretion may be made quarterly in the sole
      discretion of the Board. EPIP funding will accrue quarterly based on
      achievement of Board-approved corporate financial performance objectives
      as determined by the Board. For each quarter, funding (if any) based on
      corporate financial performance will increase by an amount equal to the
      lesser of (a) the funding amount determined based on the results for such
      quarter, and (b) the difference (but not less than zero) between (i) the
      aggregate funding for all prior quarters of the fiscal year and (ii) the
      funding amount determined based on year-to-date results for the most
      recently completed quarter. Accruals based on corporate financial
      performance targets will not be reduced in subsequent periods based on
      failure to achieve corporate financial targets in such subsequent periods.
      EPIP funding for corporate transaction incentive awards will be made upon
      closing of a qualifying Business Combination.

PRELIMINARY ALLOCATION OF AWARDS

-     Preliminary allocation of EPIP funding toward individual incentive awards
      will be made quarterly based on achievement of Board-approved corporate
      financial performance objectives.

-     Preliminary allocation of EPIP funding for corporate transaction incentive
      awards will be made upon closing of a qualifying Business Combination.

                                      -2-

<PAGE>

INDIVIDUAL INCENTIVE AWARDS

-     Actual EPIP incentive awards will be based on:

      -     Achievement of the Company's financial performance objectives;

      -     Achievement of departmental Key Performance Indicators ("KPI's")
            and/or individual goals and objectives;

      -     The occurrence of a qualifying corporate transaction;

      -     Individual target bonus levels; and

      -     Position/Job Level.

-     Based on assigned Tier, and subject to funding criteria being met and
      satisfaction of all other terms and conditions set forth in this plan,
      actual incentive awards that are funded based on achievement of corporate
      financial performance targets will be based on a combination of Company
      and Departmental KPI's/Individual performance.

<TABLE>
<CAPTION>
                                                          Incentive Target Distribution
                                                          -----------------------------
                  Metric                Tier I      Tier II     Tier III     Tier IV     Tier V
                  ------                ------      -------     --------     -------     ------
<S>                                     <C>         <C>         <C>          <C>         <C>
Company Performance                       100%        90%          80%         75%         70%
Dept KPI / Individual Performance           0%        10%          20%         25%         30%
Total                                     100%       100%         100%        100%        100%
</TABLE>

Example: a Software Engineer Manager in Tier IV might have an incentive of 30%
of base salary, of which 75% depends on Company performance and 25% depends on
Departmental KPI's/Individual Performance.

PRORATION FACTORS

-     Individual annual incentive awards will be prorated for partial years in
      the following situations:

      -     Employees who were hired during the plan's year and who have at
            least 60 days of active service in an eligible position.

      -     Employees who were transferred from ineligible to eligible positions
            during the plan's year and who have at least 60 days of active
            service in the eligible position within year.

      -     Employees who transferred between positions for which the incentive
            plans are different, and who have at least 60 days of active service
            in an eligible position within the year, will have their bonuses
            prorated based on length of time in each eligible position.

                                      -3-

<PAGE>

      -     Employees who were eligible for the plan, terminated their
            employment, and were rehired into plan-eligible positions during the
            plan year.

-     Incentive awards will be prorated on a weekly basis, not on working days
      during any given performance measurement period.

PAYMENT SCHEDULE

-    Payment of annual incentive awards, if any, which are funded based on Board
     discretion and achievement of corporate financial performance objectives,
     will be made following the end of the defined plan year and the Company's
     announcement of financial results for the full year, determination by the
     Board of Directors of the achievement of established metrics and funding of
     the plan, and determination by management of the degree to which
     Departmental KPI's and individual goals have been achieved, but in any
     event no later than March 15 of the following year.

-    Payment of incentive awards funded based on closing of a qualifying
     Business Combination will be made to participants (who were participants on
     the date immediately preceding the date of said Business Combination was
     consummated), such payment to be made on the earliest of (i) the date that
     annual EPIP payments are made based on corporate financial performance, and
     (ii) March 15 of the year in which the transaction occurred or March 15 of
     the next calendar year if the transaction occurred after March 15 in any
     calendar year; provided, however, that any person who was a participant on
     the date said Business Combination was consummated and whose employment is
     terminated prior to payment of incentive awards pursuant to (i) or (ii)
     above other than voluntarily by the Participant or for cause by the
     Company, shall receive payment of his or her incentive award within five
     business days of the date the Participant's employment with the Company is
     terminated.

ADDITIONAL TERMS AND CONDITIONS - 2005 EPIP

-     BASE SALARY: A Participant's base salary in effect on the last Friday of
      the fiscal year will be used for the purpose of EPIP calculations.

-     INCENTIVE TARGET: a participant's target incentive bonus, expressed as a
      percentage of base salary, in effect on the last Friday of the fiscal year
      will be used for the purpose of award calculations.

-     ELIGIBILITY: Employees become eligible to participate in this plan on the
      date they become actively employed in an eligible position. Eligible
      positions are specifically identified by HR and may change from time to
      time in Enterasys' sole discretion. Employee must be a plan participant
      for a minimum of 60 days to be eligible to receive an award.

-     PERFORMANCE NOTICE: Plan participants placed on a Performance Improvement
      Notice during the plan year are not guaranteed to receive an award under
      any circumstance.

-     TERMINATION: Plan participants who terminate employment voluntarily or
      involuntarily prior to payment date will not receive an EPIP award based
      on corporate financial performance or departmental/individual performance.
      Participants who terminate employment voluntarily or whose employment is
      terminated by the company for cause are not eligible for any awards under
      this Plan.

                                      -4-

<PAGE>

-     LEAVE OF ABSENCE: Awards will be prorated based on number of weeks worked
      during the plan year and paid upon return for those Plan participants on
      Leave of Absence.

-     FUNDING: All payments are from funds made available to the plan as
      prescribed by this document and any addendum hereto and in accordance with
      performance against pre-established goals and objectives and subject to
      the discretion of the Board of Directors described above.

-     DISCRETIONARY AWARDS: Awards are not guaranteed compensation and employees
      eligible to participate in the plan are not guaranteed to receive any
      award.

-     TAX RELATED LIABILITIES: Participants are responsible for determining the
      tax consequences for incentive awards, which will be subject to
      appropriate withholding by the Company.

-     PAYMENT DISPUTES: Plan participants agree that payment disputes, including
      but not limited to disputes relating to promotions, demotions, changes in
      positions, prorating of payment, must be submitted within 30 days of the
      earlier of (i) notice of the amount of any earned award, and (ii) check
      receipt.

-     ACKNOWLEDGEMENT OF RECEIPT: Plan participants shall receive access to a
      copy of the plan document or a communication outlining plan criteria and
      guidelines.

-     NO CONTRACT OF EMPLOYMENT: Participation in this plan does not constitute
      a guarantee of employment in any way, for any given performance period or
      other time period.

-     PLAN CHANGES: The Company reserves the right to revise or terminate this
      plan, with or without notice, at any time for any reason it deems
      appropriate, provided however that Plan provisions relating to incentive
      awards based on qualifying Business Combination may not be amended from
      and after the consummation of such a Business Combination.

                                      -5-

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