Document:

EX-10(P) U.S. Long-Term Restricted Stock Agt

 

Exhibit 10(p)

U.S. Long-Term Restricted Stock Agreement

TERMS AND CONDITIONS

	1.	 	General

The shares of TRW Inc. Common Stock issued to you pursuant to this Agreement
shall be subject to the terms and conditions described herein. These shares
will be issued pursuant to the 2000 TRW Long-Term Incentive Plan and are
referred to herein as the “Long-Term Restricted Stock.”

	2.	 	Vesting

The shares of Long-Term Restricted Stock issued pursuant to this Agreement
will vest in two installments as follows: (i) 40 percent of the shares,
rounded down to the nearest whole share, on the fourth anniversary of the date
of grant and (ii) the remaining 60 percent of the shares on your 62nd
birthday; provided that, in each case, you have been continuously employed in
active status, providing services to TRW Inc. (“TRW”), from the date of grant
through and including the applicable vesting date. On the applicable vesting
date, all restrictions on transferability of such shares and the risk of
forfeiture of such shares (together, the “restrictions”) shall lapse.

Notwithstanding the foregoing, the shares of Long-Term Restricted Stock issued
pursuant to this Agreement will vest and all restrictions thereon will lapse
immediately in respect of all of the shares covered by this Agreement in the
event of the termination of your employment in the following circumstances:

	(a)	 	your death; or
	 
	(b)	 	your disability for a period of more than twelve months (as defined in
the TRW U.S. Long-Term Disability Plan).

The shares of Restricted Stock issued pursuant to this Agreement will vest and
all restrictions thereon will lapse immediately in respect of all of the
shares covered by this Agreement upon a change of control of TRW Inc.  For
purposes of this agreement, a change in control is defined in resolutions
adopted by the Compensation Committee of the Directors of TRW on
February 28,
2002, which, in summary, provide that a change in control is a change
occurring (a) by virtue of certain mergers or consolidations or
sale or transfer of assets by TRW to another corporation or
(b) by virtue of the Directors of the Corporation as of February 28, 2002
and their approved successors (other than a successor whose initial
assumption of office is in connection with an actual or threatened
election contest) ceasing to constitute a majority of the Directors of TRW or (c) through the
acquisition of shares representing 20% or more of the voting power of TRW or
(d) through any other change in control reported in any filing with the
Securities and Exchange Commission; provided, however, that no change in
control is deemed to have occurred by the acquisition of shares, or any report
of such acquisition, by TRW, a subsidiary of TRW or a TRW-sponsored employee
benefit plan. The language of the resolutions controls over this summary
language.

	3.	 	Termination of Employment

To the extent the shares of Long-Term Restricted Stock issued pursuant to this
Agreement have not vested in accordance with Section 2 above, the voluntary or
involuntary termination of your employment for any reason (except your death
or disability as set forth in Section 2 above) will result in the forfeiture
of such shares. Upon notice of termination of your employment, all unvested
shares of Long-Term Restricted Stock issued pursuant to this Agreement will be
automatically and immediately forfeited. Such shares may not be continued or
replaced with cash or other consideration as a provision of any termination,
severance, retention or other agreement TRW may enter into with you in
connection with the termination of your employment.

Further, if the Directors of TRW find that you intentionally committed an act,
which act is inimical to the interests of TRW or a subsidiary, your unvested
shares of Long-Term Restricted Stock will be automatically forfeited as of the
time you committed such act, as determined by the Directors.

For purposes of this Agreement, involuntary termination shall be deemed to
include, but shall not be limited to, terminations that are the result of
individual performance, workforce reductions, reorganizations or divestitures.

	4.	 	Dividends; Voting Rights

Subject to the risk of forfeiture, from and after the date of issuance of the
shares of Long-Term Restricted Stock pursuant to this Agreement until such
time as such shares shall be forfeited or all restrictions thereon shall
lapse, each in accordance with the terms of this Agreement, you will be
entitled to all of the rights of ownership of fully-paid and nonassessable TRW
Common Stock, including but not limited to voting rights and rights to receive
dividends (if and as declared and paid), with respect to all shares of
Long-Term Restricted Stock issued to you pursuant to this Agreement.

	5.	 	Taxes

TRW may withhold delivery of certificates for the shares to be issued pursuant
to this Agreement until you make arrangements satisfactory to TRW to pay any
withholding, transfer or other taxes due as a result of the issuance of such
shares. You may elect, in accordance with applicable regulations of the
Compensation Committee of TRW, to pay a portion or all of the amount of
required withholding taxes in cash or in shares of TRW Common, either by
delivering to TRW previously held shares of TRW Common or by having shares of
TRW Common withheld from the shares issued hereunder.

	6.	 	Securities Laws

TRW may place appropriate legends on the certificates for the shares of
Long-Term Restricted Stock issued pursuant to this Agreement, give
stop-transfer instructions to its transfer agents

 

 

or take any other action to achieve compliance with applicable federal and
state securities laws in connection with the issuance of the shares of
Long-Term Restricted Stock pursuant to this Agreement or your resale of such
shares.

	7.	 	Transferability

Until such time as the restrictions shall lapse, shares of Long-Term
Restricted Stock issued pursuant to this Agreement are not transferable other
than by will or the laws of descent and distribution.

	8.	 	Leaves of Absence

If you take a leave of absence for illness, military or governmental service
or other reasons, and such leave has been specifically approved by the
Chairman of the Board or the President of TRW for purposes of this Agreement,
then such leave will not be treated as an interruption of your employment.

	9.	 	Certain Definitions

For purposes of this Agreement, employment with a subsidiary will be treated
as equivalent to employment with TRW itself, and your continuous employment
will not be deemed to be interrupted by reason of your transfer among TRW and
its subsidiaries. “Subsidiary” means a corporation or other entity in an
unbroken chain of entities beginning with TRW if each of the entities other
than the last entity in the unbroken chain owns stock or other ownership
interests possessing 50% or more of the total outstanding combined voting
power of all classes of stock or other interests in the next entity in the
chain. “Subsidiary” also means, if not covered by the definition of
subsidiary in the preceding sentence and if specifically approved by the
Chairman of the Board of TRW with respect to this Agreement, a corporation or
other entity in which TRW has a direct or indirect ownership interest.

	10.	 	Miscellaneous

By accepting the shares of Long-Term Restricted Stock issued pursuant to this
Agreement, you understand and agree to the following conditions:

(a) The shares of Long-Term Restricted Stock issued pursuant to this Agreement
are subject to all the terms and conditions of the 2000 TRW Long-Term
Incentive Plan. The Compensation Committee of TRW has authority to interpret
and construe any provision of this Agreement and the 2000 TRW Long-Term
Incentive Plan, and any such interpretation and construction shall be binding
and conclusive. Any reference in this Agreement to the Directors of TRW
includes the Executive Committee of the Directors.

(b) The issuance of shares of Long-Term Restricted Stock pursuant to this
Agreement does not create any contractual or other right to receive shares or
benefits in lieu of shares in the future. Any future restricted stock grants,
including but not limited to the timing of any grant, number of shares and
vesting provisions will be in TRW’s sole discretion.

(c) Your acceptance of the shares of Long-Term Restricted Stock issued
pursuant to this Agreement is completely voluntary and is not a condition or
right of your employment.

(d) The value of the shares of Long-Term Restricted Stock issued pursuant to
this Agreement and any dividends payable thereon are not part of normal or
expected compensation for purposes of calculating any severance, resignation,
redundancy, end of service payments, bonuses, long-service awards, social
insurance contributions (except where local law specifically provides
otherwise), pension or retirement benefits or similar payments.

(e) You authorize your manager to furnish TRW (and any agent of TRW
administering the program or providing program recordkeeping services) with
such information and data as it shall request in order to facilitate the
issuance of shares of Long-Term Restricted Stock pursuant to this Agreement.
You also waive any data privacy rights you might have with respect to such
information about you, which is needed to issue the shares of Long-Term
Restricted Stock.

(f) Until such time as all restrictions on the shares of Long-Term Restricted
Stock issued to you pursuant to this Agreement have lapsed, such shares may
not be assigned, sold, encumbered or in any way transferred or alienated,
except as otherwise explicitly provided in this Agreement.

(g) This Agreement is governed by and subject to U.S. law. Interpretation of
this Agreement and your rights thereunder will be governed by provisions of U.
S. law.

(h) This Agreement and the 2000 TRW Long-Term Incentive Plan pursuant to which
the shares of Long-Term Restricted Stock have been issued to you contain all
of the provisions applicable to the shares of Long-Term Restricted Stock and
no other statements, documents or practices may modify, waive or alter such
provisions unless expressly set forth in writing signed by an authorized
officer of TRW and delivered to you.EX-10(Q) Non-U.S. Long-Term Restricted Stock Agt

 

Exhibit 10(q)

Non-U.S. Long-Term Restricted Stock Agreement

TERMS AND CONDITIONS

	1.	 	General

The shares of TRW Inc. Common Stock issued to you pursuant to this Agreement
shall be subject to the terms and conditions described herein. These shares
will be issued pursuant to the 2000 TRW Long-Term Incentive Plan and are
referred to herein as the “Long-Term Restricted Stock.”

	2.	 	Vesting

The shares of Long-Term Restricted Stock issued pursuant to this Agreement
will vest in two installments as follows: (i) 40 percent of the shares,
rounded down to the nearest whole share, on the fourth anniversary of the date
of grant and (ii) the remaining 60 percent of the shares on your 60th
birthday; provided that, in each case, you have been continuously employed in
active status, providing services to TRW Inc. (“TRW”), from the date of grant
through and including the applicable vesting date. On the applicable vesting
date, all restrictions on transferability of such shares and the risk of
forfeiture of such shares (together, the “restrictions”) shall lapse.

Notwithstanding the foregoing, the shares of Long-Term Restricted Stock issued
pursuant to this Agreement will vest and all restrictions thereon will lapse
immediately in respect of all of the shares covered by this Agreement in the
event of the termination of your employment in the following circumstances:

	(a)	 	your death; or
	 
	(b)	 	your disability for a period of more than twelve months (as defined in
the TRW U.S. Long-Term Disability Plan).

The shares of Long-Term Restricted Stock issued pursuant to this Agreement
will vest and all restrictions thereon will lapse immediately in respect of
all of the shares covered by this Agreement upon a change of control of TRW
Inc.  For
purposes of this agreement, a change in control is defined in resolutions
adopted by the Compensation Committee of the Directors of TRW on
February 28,
2002, which, in summary, provide that a change in control is a change
occurring (a) by virtue of certain mergers or consolidations or
sale or transfer of assets by TRW to another corporation or
(b) by virtue of the Directors of the Corporation as of February 28, 2002
and their approved successors (other than a successor whose initial
assumption of office is in connection with an actual or threatened
election contest) ceasing to constitute a majority of the Directors of TRW or (c) through the
acquisition of shares representing 20% or more of the voting power of TRW or
(d) through any other change in control reported in any filing with the
Securities and Exchange Commission; provided, however, that no change in
control is deemed to have occurred by the acquisition of shares, or any report
of such acquisition, by TRW, a subsidiary of TRW or a TRW-sponsored employee
benefit plan. The language of the resolutions controls over this summary
language.

	3.	 	Termination of Employment

To the extent the shares of Long-Term Restricted Stock issued pursuant to this
Agreement have not vested in accordance with Section 2 above, the voluntary or
involuntary termination of your employment for any reason (except your death
or disability as set forth in Section 2 above) will result in the forfeiture
of such shares. Upon notice of termination of your employment, all unvested
shares of Long-Term Restricted Stock issued pursuant to this Agreement will be
automatically and immediately forfeited. Such shares may not be continued or
replaced with cash or other consideration as a provision of any termination,
severance, retention or other agreement TRW may enter into with you in
connection with the termination of your employment.

Further, if the Directors of TRW find that you intentionally committed an act,
which act is inimical to the interests of TRW or a subsidiary, your unvested
shares of Long-Term Restricted Stock will be automatically forfeited as of the
time you committed such act, as determined by the Directors.

For purposes of this Agreement, involuntary termination shall be deemed to
include, but shall not be limited to, terminations that are the result of
individual performance, workforce reductions, reorganizations or divestitures.

	4.	 	Dividends; Voting Rights

Subject to the risk of forfeiture, from and after the date of issuance of the
shares of Long-Term Restricted Stock pursuant to this Agreement until such
time as such shares shall be forfeited or all restrictions thereon shall
lapse, each in accordance with the terms of this Agreement, you will be
entitled to all of the rights of ownership of fully-paid and nonassessable TRW
Common Stock, including but not limited to voting rights and rights to receive
dividends (if and as declared and paid), with respect to all shares of
Long-Term Restricted Stock issued to you pursuant to this Agreement.

	5.	 	Taxes

TRW may withhold delivery of certificates for the shares to be issued pursuant
to this Agreement until you make arrangements satisfactory to TRW to pay any
withholding, transfer or other taxes due as a result of the issuance of such
shares. You may elect, in accordance with applicable regulations of the
Compensation Committee of TRW, to pay a portion or all of the amount of
required withholding taxes in cash or in shares of TRW Common, either by
delivering to TRW previously held shares of TRW Common or by having shares of
TRW Common withheld from the shares issued hereunder.

 

 

	6.	 	Securities Laws

TRW may place appropriate legends on the certificates for the shares of
Long-Term Restricted Stock issued pursuant to this Agreement, give
stop-transfer instructions to its transfer agents or take any other action to
achieve compliance with applicable federal and state securities laws in
connection with the issuance of the shares of Long-Term Restricted Stock
pursuant to this Agreement or your resale of such shares.

	7.	 	Transferability

Until such time as the restrictions shall lapse, shares of Long-Term
Restricted Stock issued pursuant to this Agreement are not transferable other
than by will or the laws of descent and distribution.

	8.	 	Leaves of Absence

If you take a leave of absence for illness, military or governmental service
or other reasons, and such leave has been specifically approved by the
Chairman of the Board or the President of TRW for purposes of this Agreement,
then such leave will not be treated as an interruption of your employment.

	9.	 	Certain Definitions

For purposes of this Agreement, employment with a subsidiary will be treated
as equivalent to employment with TRW itself, and your continuous employment
will not be deemed to be interrupted by reason of your transfer among TRW and
its subsidiaries. “Subsidiary” means a corporation or other entity in an
unbroken chain of entities beginning with TRW if each of the entities other
than the last entity in the unbroken chain owns stock or other ownership
interests possessing 50% or more of the total outstanding combined voting
power of all classes of stock or other interests in the next entity in the
chain. “Subsidiary” also means, if not covered by the definition of
subsidiary in the preceding sentence and if specifically approved by the
Chairman of the Board of TRW with respect to this Agreement, a corporation or
other entity in which TRW has a direct or indirect ownership interest.

	10.	 	Miscellaneous

By accepting the shares of Long-Term Restricted Stock issued pursuant to this
Agreement, you understand and agree to the following conditions:

(a) The shares of Long-Term Restricted Stock issued pursuant to this Agreement
are subject to all the terms and conditions of the 2000 TRW Long-Term
Incentive Plan. The Compensation Committee of TRW has authority to interpret
and construe any provision of this Agreement and the 2000 TRW Long-Term
Incentive Plan, and any such interpretation and construction shall be binding
and conclusive. Any reference in this Agreement to the Directors of TRW
includes the Executive Committee of the Directors.

(b) The issuance of shares of Long-Term Restricted Stock pursuant to this
Agreement does not create any contractual or other right to receive shares or
benefits in lieu of shares in the future. Any future restricted stock grants,
including but not limited to the timing of any grant, number of shares and
vesting provisions will be in TRW’s sole discretion.

(c) Your acceptance of the shares of Long-Term Restricted Stock issued
pursuant to this Agreement is completely voluntary and is not a condition or
right of your employment.

(d) The value of the shares of Long-Term Restricted Stock issued pursuant to
this Agreement and any dividends payable thereon are not part of normal or
expected compensation for purposes of calculating any severance, resignation,
redundancy, end of service payments, bonuses, long-service awards, social
insurance contributions (except where local law specifically provides
otherwise), pension or retirement benefits or similar payments.

(e) You authorize your manager to furnish TRW (and any agent of TRW
administering the program or providing program recordkeeping services) with
such information and data as it shall request in order to facilitate the
issuance of shares of Long-Term Restricted Stock pursuant to this Agreement.
You also waive any data privacy rights you might have with respect to such
information about you, which is needed to issue the shares of Long-Term
Restricted Stock.

(f) Until such time as all restrictions on the shares of Long-Term Restricted
Stock issued to you pursuant to this Agreement have lapsed, such shares may
not be assigned, sold, encumbered or in any way transferred or alienated,
except as otherwise explicitly provided in this Agreement.

(g) This Agreement is governed by and subject to U.S. law. Interpretation of
this Agreement and your rights thereunder will be governed by provisions of U.
S. law.

(h) This Agreement and the 2000 TRW Long-Term Incentive Plan pursuant to which
the shares of Long-Term Restricted Stock have been issued to you contain all
of the provisions applicable to the shares of Long-Term Restricted Stock and
no other statements, documents or practices may modify, waive or alter such
provisions unless expressly set forth in writing signed by an authorized
officer of TRW and delivered to you.

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