Document:

Exhibit 10.7

 

(As of May 20, 2009)

 

THE 2009 STOCK PURCHASE AND OPTION PLAN FOR

KEY EMPLOYEES OF AMPHENOL AND SUBSIDIARIES

 

1.                                       Purpose
of Plan

 

The
2009 Stock Purchase and Option Plan for Key Employees of Amphenol and
Subsidiaries (the “Plan”) is designed:

 

(a)                                  to promote the
long term financial interests and growth of Amphenol Corporation (the “Corporation”)
and its subsidiaries by attracting and retaining management personnel with the
training, experience and ability to enable them to make a substantial contribution
to the success of the Corporation’s business;

 

(b)                                 to motivate
management personnel by means of growth-related incentives to achieve long
range goals;

 

(c)                                  to further the
alignment of interests of participants with those of the stockholders of the
Corporation through opportunities for increased stock, or stock-based,
ownership in the Corporation; and

 

(d)                                 to create
competitive levels of compensation for management personnel.

 

2.                                       Definitions

 

As
used in the Plan, the following words shall have the following meanings:

 

(a)                                  “Board of
Directors” means the Board of Directors of the Corporation.

 

(b)                                 “Code” means
the Internal Revenue Code of 1986, as amended.

 

(c)                                  “Committee”
means the Compensation Committee of the Board of Directors.

 

(d)                                 “Common Stock”
or “Share” means Class A Common Stock of the Corporation which may be
authorized but unissued, or issued and reacquired.

 

(e)                                  “Key Employee”
means a person, including an officer, in the regular full-time employment of
the Corporation or one of its Subsidiaries who, in the opinion of the
Committee, is, or is expected to be, primarily responsible for the management,
growth or protection of some part or all of the business of the Corporation.

 

(f)                                    “Exchange Act”
means the Securities Exchange Act of 1934, as amended.

 

(g)                                 “Fair Market
Value” means such value of a Share as reported for stock exchange transactions
and/or determined in accordance with any applicable resolutions or regulations
of the Committee in effect at the relevant time.

 

(h)                                 “Grant” means
an award made to a Participant pursuant to the Plan and described in
Paragraph 5, including, without limitation, an award of a Non-Qualified
Stock Option or Purchase Stock or a combination thereof. A “Grant” shall not include an award of stock appreciation
rights, dividend equivalent rights, restricted stock, performance units,
performance shares or any other stock-based grants.

 

1

 

(i)                                     “Grant
Agreement” means an agreement between the Company and a Participant that sets
forth the terms, conditions and limitations applicable to a Grant.

 

(j)                                     “Management
Stockholder’s Agreement” means an agreement between the Corporation and a
Participant that sets forth the terms and conditions and limitations applicable
to any Shares purchased pursuant to this Plan

 

(k)                                  “Option” means
an option to purchase shares of the Common Stock which will not be an “incentive
stock option” (within the meaning of Section 422 of the Code).

 

(l)                                     “Participant”
means a Key Employee, or other person having a unique relationship with the
Corporation or one of its Subsidiaries, to whom one or more Grants have been
made and such Grants have not all been forfeited or terminated under the Plan;
provided, however, that a non-employee director of the Corporation or one of
its Subsidiaries may not be a Participant.

 

(m)                               “Subsidiary”
shall mean any corporation in an unbroken chain of corporations beginning with
the Corporation if each of the corporations, or group of commonly controlled
corporations, other than the last corporation in the unbroken chain then owns
stock possessing 50% or more of the total combined voting power of all classes
of stock in one of the other corporations in such chain.

 

3.                                       Administration
of Plan

 

(a)                                  The Plan shall
be administered by the Committee. None of the members of the Committee shall be
eligible to be selected for Grants under the Plan, or have been so eligible for
selection within one year prior thereto; provided, however, that the members of
the Committee shall qualify to administer the Plan for purposes of Rule 16b-3
(and any other applicable rule) promulgated under Section 16(b) of
the Exchange Act to the extent that the Corporation is subject to such rule.
The Committee may adopt its own rules of procedure, and action of a
majority of the members of the Committee taken at a meeting, or action taken
without a meeting by unanimous written consent, shall constitute action by the
Committee. The Committee shall have the power and authority to administer,
construe and interpret the Plan, to make rules for carrying it out and to
make changes in such rules. Any such interpretations, rules and
administration shall be consistent with the basic purposes of the Plan.

 

(b)                                 The Committee
may delegate to the Chief Executive Officer and/or the Executive Chairman and
to other senior officers of the Corporation its duties under the Plan subject
to such conditions and limitations as the Committee shall prescribe except that
only the Committee may designate and make Grants to Participants who are
subject to Section 16 of the Exchange Act.

 

(c)                                  The Committee
may employ attorneys, consultants, accountants, appraisers, brokers or other
persons. The Committee, the Corporation, and the officers and directors of the
Corporation shall be entitled to rely upon the advice, opinions or valuations
of any such persons. All actions taken and all interpretations and
determinations made by the Committee in good faith shall be final and binding
upon all Participants, the Corporation and all other interested persons. No
member of the Committee shall be personally liable for any action,
determination or interpretation made in good faith with respect to the Plan or
Grants, and all members of the 

 

2

 

Committee shall be fully
protected by the Corporation with respect to any such action, determination or
interpretation.

 

4.                                       Eligibility

 

The
Committee may from time to time make Grants under the Plan to such Key
Employees, of the Corporation or any of its Subsidiaries, and in such form and
having such terms, conditions and limitations as the Committee may determine.
No Grants may be made under this Plan to non-employee directors of the
Corporation or any of its Subsidiaries. The terms, conditions and limitations
of each Grant under the Plan shall be set forth in an Grant Agreement, in a
form approved by the Committee, consistent, however, with the terms of the Plan
and, if applicable, the Management Stockholder’s Agreement.

 

5.                                       Grants

 

From
time to time, the Committee will determine the forms and amounts of Grants for
Participants which grants may only include Non-Qualified Stock Options and/or
Purchase Stock as set forth below. Such Grants may take the following forms in
the Committee’s sole discretion:

 

(a)                                  Non-Qualified
Stock Options—These are options to purchase Common Stock which
are not designated by the Committee as incentive stock options. At the time of
the Grant the Committee shall determine, and shall include in the Grant
Agreement or other Plan rules, the option exercise period, the option price,
and such other conditions or restrictions on the grant or exercise of the
option as the Committee deems appropriate, which may include the requirement
that the grant of options is predicated on the acquisition of Purchase Shares
under Paragraph 5(b) by the Optionee. In addition to other
restrictions contained in the Plan, an option granted under this
Paragraph 5(a): (i) may not be exercised more than 10 years
after the date it is granted and (ii) may not have an option exercise
price less than the closing price of the Common Stock as reported by the New
York Stock Exchange on the date the option is granted. Payment of the option
price shall be made in cash or in shares of Common Stock including Common Stock
acquired upon the simultaneous exercise of a vested option, or a combination
thereof, in accordance with the terms of the Plan, the Grant Agreement and of
any applicable guidelines of the Committee in effect at the time.

 

(b)                                 Purchase
Stock—Purchase Stock refers to shares of Common Stock offered to a
Participant at such price as determined by the Committee, the acquisition of
which will make him eligible to receive under the Plan, including, but not
limited to, Non-Qualified Stock Options; provided, however, that the price of such
Purchase Shares may not be less than the closing price of the Common Stock as
reported by the New York Stock Exchange on the date such shares of Purchase
Stock are offered.

 

3

 

6.                                       Limitations
and Conditions

 

(a)                                  The number of
Shares available for Grants under this Plan shall be 16,000,000 Shares of the
authorized Common Stock as of the effective date of the Plan. The number of
Shares subject to Option Grants under this Plan to any one Participant shall not
be more than 3,000,000 Shares. Unless restricted by applicable law, Shares
related to Grants that are forfeited, terminated, cancelled or expire
unexercised, shall immediately become available for new Grants.

 

(b)                                 No Grants shall
be granted under the Plan beyond ten years after the effective date of the
Plan, but the terms of Grants granted on or before the expiration of the Plan
may extend beyond such expiration. At the time a Grant is granted or amended or
the terms or conditions of a Grant are changed, the Committee may provide for
limitations or conditions on such Grant or purchase consistent with the terms
of the Management Stockholders’ Agreement.

 

(c)                                  Nothing
contained herein shall affect the right of the Corporation to terminate any
Participant’s employment at any time or for any reason.

 

(d)                                 Other than as
specifically provided with regard to the death of a Participant, no benefit
under the Plan shall be subject in any manner to anticipation, alienation,
sale, transfer, assignment, pledge, encumbrance, or charge, and any attempt to
do so shall be void. No such benefit shall, prior to receipt thereof by the
Participant, be in any manner liable for or subject to the debts, contracts,
liabilities, engagements, or torts of the Participant.

 

(e)                                  Participants
shall not be, and shall not have any of the rights or privileges of,
stockholders of the Corporation in respect of any Shares purchasable in
connection with any Grant unless and until certificates representing any such
Shares have been issued by the Corporation to such Participants.

 

(f)                                    No election as
to benefits or exercise of Options or other rights may be made during a
Participant’s lifetime by anyone other than the Participant except by a legal
representative appointed for or by the Participant.

 

(g)                                 Absent express
provisions to the contrary, any Grant under this Plan shall not be deemed
compensation for purposes of computing benefits or contributions under any
retirement plan of the Corporation or its Subsidiaries and shall not affect any
benefits under any other benefit plan of any kind now or subsequently in effect
under which the availability or amount of benefits is related to level of
compensation. This Plan is not a “Retirement Plan” or “Welfare Plan” under the
Employee Retirement Income Security Act of 1974, as amended.

 

(h)                                 Unless the
Committee determines otherwise, no benefit or promise under the Plan shall be
secured by any specific assets of the Corporation or any of its Subsidiaries,
nor shall any assets of the Corporation or any of its Subsidiaries be
designated as attributable or allocated to the satisfaction of the Corporation’s
obligations under the Plan.

 

7.                                       Transfers
and Leaves of Absence

 

For
purposes of the Plan, unless the Committee determines otherwise: (a) a
transfer of a Participant’s employment without an intervening period of
separation among the Corporation 

 

4

 

and any Subsidiary shall not
be deemed a termination of employment, and (b) a Participant who is
granted in writing a leave of absence shall be deemed to have remained in the
employ of the Corporation during such leave of absence.

 

8.                                       Adjustments

 

In
the event of any change in the outstanding Common Stock by reason of a stock
split, spin-off, stock dividend, stock combination or reclassification,
recapitalization or merger, change of control, or similar event, the Committee
may adjust appropriately the number of Shares subject to the Plan and available
for or covered by Grants and exercise prices related to outstanding Grants and
make such other revisions to outstanding Grants as it deems are equitably
required.

 

9.                                       Merger,
Consolidation, Exchange, Acquisition, Liquidation or Dissolution

 

In
its absolute discretion, and on such terms and conditions as it deems
appropriate, coincident with or after the Grant of any Option, the Committee
may provide that such Option cannot be exercised after the merger or
consolidation of the Corporation into another corporation, the exchange of all
or substantially all of the assets of the Corporation for the securities of
another corporation, the acquisition by another corporation of 80% or more of
the Corporation’s then outstanding shares of voting stock or the
recapitalization, reclassification, liquidation or dissolution of the
Corporation (a “Transaction”), and if the Committee so provides, it shall, on
such terms and conditions as it deems appropriate, also provide, either by the
terms of such Option or by a resolution adopted prior to the occurrence of such
Transaction, that, for some reasonable period of time prior to such
Transaction, such Option shall be exercisable as to all shares subject thereto,
notwithstanding anything to the contrary herein (but subject to the provisions
of Paragraph 6(b)) and that, upon the occurrence of such event, such
Option shall terminate and be of no further force or effect; provided, however,
that the Committee may also provide, in its absolute discretion, that even if
the Option shall remain exercisable after any such event, from and after such
event, any such Option shall be exercisable only for the kind and amount of
securities and/or other property, or the cash equivalent thereof, receivable as
a result of such event by the holder of a number of shares of stock for which
such Option could have been exercised immediately prior to such event.

 

10.                                 Amendment
and Termination

 

The
Committee shall have the authority to make such amendments to any terms and
conditions applicable to outstanding Grants as are consistent with this Plan
provided that, except for adjustments under Paragraph 8 or 9 hereof, no
such action shall modify such Grant in a manner adverse to the Participant
without the Participant’s consent except as such modification is provided for
or contemplated in the terms of the Grant.

 

The
Board of Directors may amend, suspend or terminate the Plan except that no such
action, other than an action under Paragraph 8 or 9 hereof, may be taken
which would, without stockholder approval, increase the aggregate number of
Shares subject to Grants under the Plan, decrease the exercise price of
outstanding Options, cancel outstanding options in exchange for cash, other
awards or options with an exercise price that is less than the exercise price
of the 

 

5

 

original option Grant,
change the requirements relating to the Committee or extend the term of the
Plan.

 

Without
limiting the generality of the foregoing, the Plan shall not be materially
amended without stockholder approval.

 

11.                                 Foreign
Options and Rights

 

The
Committee may make Grants to Key Employees who are subject to the laws of
nations other than the United States, which Grants may have terms and
conditions that differ from the terms thereof as provided elsewhere in the Plan
for the purpose of complying with foreign laws.

 

12.                                 Withholding
Taxes

 

The
Corporation shall have the right to deduct from any cash payment made under the
Plan any federal, state or local income or other taxes required by law to be
withheld with respect to such payment. It shall be a condition to the
obligation of the Corporation to deliver shares upon the exercise of an Option
that the Participant pay to the Corporation such amount as may be requested by
the Corporation for the purpose of satisfying any liability for such
withholding taxes. Any Grant Agreement may provide that the Participant may
elect, in accordance with any conditions set forth in such Grant Agreement, to
pay a portion or all of such withholding taxes in shares of Common Stock.

 

13.                                 Effective
Date and Termination Dates

 

The Plan shall be effective on and as of the
date of its approval by the stockholders of the Corporation and shall terminate
ten years later, subject to earlier termination by the Board of Directors
pursuant to Paragraph 10.

 

6Exhibit 10.8

 

(As of May 20, 2009)

 

2009 NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

 

THIS
AGREEMENT, dated as of the Grant Date, is made by and between AMPHENOL
CORPORATION a Delaware corporation (hereinafter referred to as the “Company”),
and the holder of the Certificate of Stock
Option Grant, an employee of the Company or a Subsidiary (as defined
below) (hereinafter referred to as “Optionee”).

 

WHEREAS,
the Company wishes to afford the Optionee the opportunity to purchase shares of
its Class A Common Stock, par value $.001 per share (the “Common Stock”)
as indicated in the Certificate of Stock
Option Grant;

 

WHEREAS,
the Company wishes to carry out the Plan (as hereinafter defined), the terms of
which are hereby incorporated by reference and made a part of this Agreement;
and

 

WHEREAS,
the Committee (as hereinafter defined), appointed to administer the Plan, has
determined that it would be to the advantage and best interest of the Company
and its stockholders to grant the Non-Qualified Option to Purchase provided for
herein to the Optionee as an incentive for increased efforts during his or her
employment with the Company or its Subsidiaries, and has advised the Company
thereof and instructed the Company to cause its representatives to issue the Certificate of Stock Option Grant;

 

NOW,
THEREFORE, in consideration of the mutual covenants herein contained and other
good and valuable consideration, receipt of which is hereby acknowledged, the
parties hereto do hereby agree as follows:

 

ARTICLE
I

 

DEFINITIONS

 

Whenever
the following terms are used in this Agreement, they shall have the meaning
specified in the Plan or below unless the context clearly indicates to the
contrary.

 

Section 1.1—Affiliate

 

“Affiliate”
shall mean, with respect to the Company, any corporation or entity directly or
indirectly controlling, controlled by, or under common control with, the
Company.

 

Section 1.2—Cause

 

“Cause”
shall mean, (i) the Optionee’s willful and continued failure to perform
his or her duties with respect to the Company or its Subsidiaries which
continues beyond 5 busines days notice is provided to the Optionee by the
Company or (ii) misconduct by the Optionee (x) involving dishonesty
or breach of trust in connection with Optionee’s employment, (y) which
would be a reasonable basis for an indictment of the Optionee of a felony or a
misdemeanor 

 

1

 

involving moral turpitude or
(z) which the Committee determines is likely to result in a demonstrable
injury to the Company.

 

Section 1.3—Change of Control

 

“Change
of Control” shall mean (i) a sale of all or substantially all of the
assets of the Company or (ii) an acquisition of voting stock of the
Company resulting in more than 50% of the voting stock of the Company being
held by a Person or Group. See 3.1(a) for application of Change of
Control.

 

Section 1.4—Code

 

“Code”
shall mean the Internal Revenue Code of 1986, as amended.

 

Section 1.5—Committee

 

“Committee”
shall mean the Compensation Committee of the Board of Directors of the Company.

 

Section 1.6—Good Reason

 

“Good
Reason” shall mean (i) a reduction in Optionee’s base salary (other than a
broad based salary reduction program affecting many members of senior
management of the Company or the group or business unit that employs the
Optionee), (ii) a substantial reduction in Optionee’s duties and
responsibilities other than as approved by the Chief Executive Officer of the
Company, (iii) the elimination or reduction of the Optionee’s eligibility
to participate in the Company’s benefit programs that is inconsistent with the
eligibility of similarly situated employees of the Company to participate
therein, or (iv) an involuntary transfer of the Optionee’s primary
workplace by more than fifty (50) miles from the workplace as of the date
hereof.

 

Section 1.7—Grant Date

 

“Grant
Date” shall mean the date as of which the Option to Purchase provided for in
this Agreement was granted.

 

Section 1.8—Group

 

“Group”
means two or more Persons acting together as a partnership, limited partnership,
syndicate or other group for the purpose of acquiring, holding or disposing of
securities of the Company.

 

Section 1.9—Management Stockholder’s Agreement

 

“Management
Stockholder’s Agreement” shall mean the 2009 Management Stockholder’s
Agreement, as amended as of the Grant Date, between the Optionee and the
Company.

 

2

 

Section 1.10—Option to Purchase

 

“Option
to Purchase” shall mean the non-qualified option to purchase Common Stock
granted under the Certificate of Stock Option
Grant.

 

Section 1.11—Permanent Disability

 

The
Optionee shall be deemed to have a “Permanent Disability” if the Optionee is
unable to engage in the activities required by the Optionee’s job by reason of
any medically determined physical or mental impairment which can be expected to
result in death within a period of 12 months or which has lasted or can be
expected to last for a continuous period of not less than 12 months.

 

Section 1.12—Person

 

“Person”
means an individual, partnership, corporation, business trust, joint stock
company, trust, unincorporated association, joint venture, governmental
authority or other entity of whatever nature.

 

Section 1.13—Plan

 

“Plan”
shall mean The 2009 Stock Purchase and Option Plan for Key Employees of
Amphenol and Subsidiaries.

 

Section 1.14—Pronouns

 

The
masculine pronoun shall include the feminine and neuter, and the singular and
the plural, where the context so indicates.

 

Section 1.15—Retirement

 

“Retirement”
shall mean the voluntary termination of employment of the Optionee with the
Company at age 65 or older following a minimum of five (5) years of
employment with the Company and/or a Subsidiary of the Company or the voluntary
termination of employment of the Optionee with the Company at age 55 or older
following a minimum of ten (10) years of employment with the Company
and/or a Subsidiary of the Company.

 

Section 1.16—Secretary

 

“Secretary”
shall mean the Secretary or an Assistant Secretary of the Company.

 

Section 1.17—Subsidiary

 

“Subsidiary”
shall mean any corporation in an unbroken chain of corporations beginning with
the Company if each of the corporations, or group of commonly controlled
corporations (other than the last corporation in the unbroken chain), then owns
stock possessing 50% or more of the total combined voting power of all classes
of stock in one of the other corporations in such chain.

 

3

 

Section 1.18—Trigger Date

 

“Trigger
Date” shall mean the date hereof.

 

ARTICLE
II

 

GRANT OF OPTION TO PURCHASE

 

Section 2.1—Grant of Option to Purchase

 

For
good and valuable consideration, on and as of the Grant Date hereof, the
Company irrevocably grants to the Optionee, subject to Section 2.4, an
Option to Purchase any part or all of an aggregate of shares of its $.001 par
value Class A Common Stock as indicated in the Certificate of Stock Option Grant upon the terms and
conditions set forth in this Agreement.

 

Section 2.2—Grant Price

 

Subject
to Section 2.4, the exercise price of the shares of stock covered by the
Option to Purchase (the “Option to Purchase Grant Price”) shall be as indicated
in the Certificate of Stock Option Grant per
share without commission or other charge.

 

Section 2.3—No Right to Employment

 

Nothing
in this Agreement or in the Plan shall confer upon the Optionee any right to
continue in the employ of the Company or any Subsidiary or shall interfere with
or restrict in any way the rights of the Company and its Subsidiaries, which
are hereby expressly reserved, to terminate the employment of the Optionee at
any time for any reason whatsoever, with or without Cause.

 

Section 2.4—Adjustments in Option to Purchase Pursuant
to Merger, Consolidation, etc.

 

Subject
to Section 9 of the Plan, in the event that the outstanding shares of the
stock subject to an Option to Purchase are, from time to time, changed into or
exchanged for a different number or kind of shares of the Company or other
securities of the Company by reason of a merger, consolidation,
recapitalization, reclassification, stock split, stock dividend, combination of
shares, or otherwise, the Committee shall make an adjustment in the number and
kind of shares and/or the amount of consideration as to which or for which, as
the case may be, such Option to Purchase, or portions thereof then unexercised,
shall be exercisable, in such manner as the Committee determines is reasonably
necessary to maintain as nearly as practicable the rights, benefits and
obligations that the parties would have had absent such event. Any such
adjustment made by the Committee shall be final and binding upon the Optionee,
the Company and all other interested persons.

 

4

 

ARTICLE
III

 

PERIOD OF EXERCISABILITY

 

Section 3.1—Commencement of Exercisability

 

(a)                                  an Option to
Purchase shall become exercisable as follows:

 

	
  Date Option
  to Purchase

  Becomes Exercisable

  	
   

  	
  Percentage of Option to Purchase

  Shares Granted As to Which

  Option to Purchase Is Exercisable

  	
   

  
	
  After the first anniversary of the Trigger Date

  	
   

  	
  20

  	
  %

  
	
  After the second anniversary of the Trigger Date

  	
   

  	
  40

  	
  %

  
	
  After the third anniversary of the Trigger Date

  	
   

  	
  60

  	
  %

  
	
  After the fourth anniversary of the Trigger Date

  	
   

  	
  80

  	
  %

  
	
  After the fifth anniversary of the Trigger Date

  	
   

  	
  100

  	
  %

  

 

Notwithstanding
the foregoing, (x) no Option to Purchase shall become exercisable prior to
the time the Plan is approved by the Company’s stockholders, and (y) subject
to the immediately preceding clause (x), the Option to Purchase shall
become immediately exercisable as to 100% of the shares of Common Stock subject
to such Option to Purchase immediately prior to a Change of Control (but only
to the extent such Option to Purchase has not otherwise terminated or become
exercisable). The sale or disposition of a division, business segment or
Subsidiary of the Company shall not cause
an Option to Purchase to become immediately exercisable. Pursuant to the
authority granted to it in Section 5.1, the Committee shall decide what,
if any, Option to Purchase shall become exercisable and when any such Option to
Purchase must be exercised upon the sale or disposition of a division, business
segment or Subsidiary of the Company.

 

(b)                                 Notwithstanding
the foregoing, no Option to Purchase shall become exercisable as to any
additional shares of Common Stock following the termination of employment of
the Optionee for any reason other than a termination of employment because of
the death or Permanent Disability or Retirement of the Optionee, and any Option
to Purchase (other than as provided in the next succeeding sentence) which is
non-exercisable as of the Optionee’s termination of employment shall be
immediately cancelled. In the event of a termination of employment because of
death or Permanent Disability of the Optionee and provided that the Optionee
has been employed for at least three years, the Option to Purchase awarded
hereunder shall become immediately exercisable. If the Optionee has not been
employed for at least three years, then the Option to Purchase shall not become
exercisable for any additional shares of Common Stock. In the event of a
termination of employment because of Retirement of the Optionee, the Option to
Purchase the Committee in its sole and absolute discretion shall have the
authority to decide if any Option to Purchase that is not exercisable as of the
date of Retirement 

 

5

 

shall continue to vest and
be exercisable as though the Optionee’s employment had not been terminated.

 

Section 3.2—“Grant Expiration Date”

 

The
Option to Purchase may not be exercised to any extent by the Optionee after the
first to occur of the following events:

 

(a)                                  The tenth
anniversary of the Grant Date; or

 

(b)                                 December 31
following the third anniversary of the date of the Optionee’s termination of
employment by reason of death or Permanent Disability. For these purposes,
termination of employment shall mean the date on which the Optionee ceases
working for the Company or a Subsidiary of the Company or such later day as the
Committee in their discretion deems to be appropriate; or

 

(c)                                  The eighth
anniversary of the Trigger Date in the event of the Optionee’s termination of
employment by reason of Retirement.

 

(d)                                 90 days
after termination of employment of the Optionee for any reason other than for
death or Permanent Disability or Retirement. For these purposes, termination of
employment shall mean the date on which the Optionee ceases working for the
Company or a Subsidiary of the Company or such later day as the Committee in
their discretion deems to be appropriate; or

 

(e)                                  If the
Committee so elects pursuant to Section 9 of the Plan, the effective date
of a Transaction (as defined in the Plan); provided, however, that the
Committee has provided Optionee with a reasonable period of notice prior to the
effective date of such Transaction in which to exercise an Option to Purchase
that has then neither been fully exercised nor become unexercisable under this Section 3.2.

 

ARTICLE
IV

 

EXERCISE OF OPTION TO PURCHASE

 

Section 4.1—Person Eligible to Exercise

 

Except
as provided in the Management Stockholder’s Agreement, during the lifetime of
the Optionee, only he or his personal legal representative may exercise an
Option to Purchase or any portion thereof. After the death of the Optionee, any
previously exercised portion of an Option to Purchase may, prior to the time
when an Option to Purchase becomes unexercisable under Section 3.2, be
exercised by any person empowered to do so under the Optionee’s will or under
the then applicable laws of descent and distribution.

 

Section 4.2—Partial Exercise

 

Any
exercisable portion of an Option to Purchase or the entire Option to Purchase,
if then wholly exercisable, may be exercised in whole or in part at any time
prior to the time when the 

 

6

 

Option to Purchase or
portion thereof becomes unexercisable under Section 3.2; provided,
however, that any partial exercise shall be for whole shares of Common Stock
only.

 

Section 4.3—Manner of Exercise

 

An
Option to Purchase, or any exercisable portion thereof, may be exercised by a
Management Stockholder who is not an executive officer of the Company in the
manner described in the Section titled “Exercising Your Stock Options”
appearing in “A Guide to the Amphenol Corporation Stock Option Plan” appearing
on the Company’s Client Home Page available through www.benefitaccess.com. An executive
officer of the Company will require the assistance of the Executive Chairman,
the Chief Executive Officer, Chief Financial Officer or the General Counsel of
the Company and personal assistance from Smith Barney, as the administrator of
the Plan, to exercise any Option to Purchase, or any exercisable portion
thereof.

 

The
Optionee may be asked to provide a bona fide written representation and agreement,
in a form satisfactory to the Committee, signed by the Optionee or other person
then entitled to exercise such Option or portion thereof, stating that the
shares of stock are being acquired for his own account, for investment and
without any present intention of distributing or reselling said shares or any
of them except as may be permitted under the Securities Act of 1933, as amended
(the “Act”), and then applicable rules and regulations thereunder, and
that the Optionee or other person then entitled to exercise such Option or
portion thereof will indemnify the Company against and hold it free and
harmless from any loss, damage, expense or liability resulting to the Company
if any sale or distribution of the shares by such person is contrary to the representation
and agreement referred to above; provided, however, that the Committee may, in
its absolute discretion, take whatever additional actions it deems appropriate
to ensure the observance and performance of such representation and agreement
and to effect compliance with the Act and any other federal or state securities
laws or regulations; and

 

In
the event the Option to Purchase or any portion thereof shall be exercised
pursuant to Section 4.1 by any person or persons other than the Optionee,
the Committee may require appropriate proof of the right of such person or
persons to exercise the Option to Purchase.

 

Without
limiting the generality of the foregoing, the Committee may require an opinion
of counsel acceptable to it to the effect that any subsequent transfer of
shares acquired on exercise of an Option to Purchase does not violate the Act,
and may issue stop-transfer orders covering such shares. Share certificates
evidencing stock issued on exercise of an Option to Purchase shall bear an appropriate
legend referring to the provisions of the second paragraph above and the
agreements herein. The written representation and agreement referred to in the
second paragraph above shall, however, not be required if the shares to be
issued pursuant to such exercise have been registered under the Act, and such
registration is then effective in respect of such shares.

 

Section 4.4—Conditions to Issuance of Stock
Certificates

 

The
shares of stock deliverable upon the exercise of an Option to Purchase, or any portion
thereof, shall be previously authorized but unissued shares of the Company.
Such shares shall be validly issued, fully paid and nonassessable. The Company
shall not be required to issue 

 

7

 

or deliver any certificate
or certificates for shares of stock purchased upon the exercise of an Option to
Purchase or portion thereof prior to fulfillment of all of the following
conditions:

 

(a)                                  The obtaining
of approval or other clearance from any state or federal governmental agency
which the Committee shall, in its absolute discretion, determine to be
necessary or advisable; and

 

(b)                                 The lapse of
such reasonable period of time following the exercise of the Option to Purchase
as the Committee may from time to time establish for reasons of administrative
convenience. Absent such a determination by the Committee, 20 business days
shall be deemed to be a reasonable period of time.

 

Section 4.5—Rights as Stockholder

 

The
holder of an Option shall not be, nor have any of the rights or privileges of,
a stockholder of the Company in respect of any shares purchasable upon the
exercise of the Option or any portion thereof unless and until certificates
representing such shares shall have been issued by the Company to such holder.

 

ARTICLE
V

 

MISCELLANEOUS

 

Section 5.1—Administration

 

The
Committee shall have the power to interpret the Plan and this Agreement and to
adopt such rules for the administration, interpretation and application of
the Plan as are consistent therewith and to interpret or revoke any such rules.
All actions taken and all interpretations and determinations made by the
Committee shall be final and binding upon the Optionee, the Company and all
other interested persons. No member of the Committee shall be personally liable
for any action, determination or interpretation made in good faith with respect
to the Plan or the Option to Purchase. In its absolute discretion, the Board of
Directors may at any time and from time to time exercise any and all rights and
duties of the Committee under the Plan and this Agreement.

 

Section 5.2—Option to Purchase Not Transferable

 

Except
as provided in the Management Stockholder’s Agreement, neither the Option to
Purchase nor any interest or right therein or part thereof shall be liable for
the debts, contracts or engagements of the Optionee or his successors in
interest or shall be subject to disposition by transfer, alienation,
anticipation, pledge, encumbrance, assignment or any other means whether such
disposition be voluntary or involuntary or by operation of law by judgment,
levy, attachment, garnishment or any other legal or equitable proceedings
(including bankruptcy), and any attempted disposition thereof shall be null and
void and of no effect; provided, however, that this Section 5.2 shall not
prevent transfers by will or by the applicable laws of descent and distribution
nor shall this Section 5.2 prevent a transfer of the Option to Purchase or
an interest or right therein, that is made in compliance with the federal
securities laws, to a trust or custodianship where the beneficiaries of such
trust or custodianship include only the 

 

8

 

Management Stockholder, his
spouse or his lineal descendants per the provisions of the related 2009
Management Stockholder’s Agreement.

 

Section 5.3—Shares to Be Reserved

 

The
Company shall at all times during the term of the Option to Purchase reserve
and keep available such number of shares of stock as will be sufficient to
satisfy the requirements of this Agreement.

 

Section 5.4—Notices

 

Any
notice to be given under the terms of this Agreement to the Company shall be
addressed to the Company in care of its Secretary, and any notice to be given
to the Optionee shall be addressed to him or her at the address indicated in
the records of the headquarters Human Resources Department of the Company. By a
notice given pursuant to this Section 5.4, either party may hereafter
designate a different address for notices to be given. Any notice which is
required to be given to the Optionee shall, if the Optionee is then deceased,
be given to the Optionee’s personal representative if such representative has
previously informed the Company of his status and address by written notice to
the Secretary of the Company under this Section 5.4. Any notice shall be
hand delivered, delivered by overnight delivery or sent via confirmed telecopy.
Any notice to the Optionee may also be delivered via email by the Company or
the Company’s representative to the email address of Optionee indicated in the
records of the headquarters Human Resources Department of the Company.

 

Section 5.5—Titles

 

Titles
are provided herein for convenience only and are not to serve as a basis for
interpretation or construction of this Agreement.

 

Section 5.6—Applicability of Plan and Management
Stockholder’s Agreement

 

The
Option to Purchase and the shares of Common Stock issued to the Optionee upon
exercise of the Option to Purchase shall be subject to all of the terms and
provisions of the Plan and the Management Stockholder’s Agreement. In the event
of any conflict between this Agreement and the Plan, the terms of the Plan
shall control. In the event of any conflict between this Agreement or the Plan
and the Management Stockholder’s Agreement, the terms of the Management
Stockholder’s Agreement shall control.

 

Section 5.7—Amendment

 

This
Agreement may be amended only by a later dated instrument accepted by the
parties hereto which specifically states that it is amending this Agreement; provided however that the Committee in its
reasonable discretion may unilaterally amend the Agreement if it determines
that such amendment would be beneficial to the Optionee.

 

9

 

Section 5.8—Governing Law

 

The
laws of the State of Delaware shall govern the interpretation, validity and
performance of the terms of this Agreement regardless of the law that might be
applied under principles of conflicts of laws.

 

Section 5.9—Jurisdiction

 

Any suit, action or proceeding against the
Optionee with respect to this Agreement, or any judgment entered by any court
in respect thereof, may be brought in any court of competent jurisdiction in
the State of Connecticut (or if the Company moves its corporate headquarters to
another state, in that state), and the Optionee hereby submits to the
non-exclusive jurisdiction of such courts for the purpose of any such suit,
action, proceeding or judgment. The Optionee hereby irrevocably waives any
objections which he may now or hereafter have to the laying of the venue of any
suit, action or proceeding arising out of or relating to this Agreement brought
in any court of competent jurisdiction in the State of Connecticut (or if the
Company moves its corporate headquarters to another state, in that state), and
hereby further irrevocably waives any claim that any such suit, action or
proceeding brought in any such court has been brought in any inconvenient
forum. No suit, action or proceeding against the Company with respect to this
Agreement may be brought in any court, domestic or foreign, or before any
similar domestic or foreign authority other than in a court of competent
jurisdiction in the State of Connecticut (or if the Company moves its corporate
headquarters to another state, in that state), and the Optionee hereby
irrevocably waives any right which he may otherwise have had to bring such an
action in any other court, domestic or foreign, or before any similar domestic
or foreign authority. The Company hereby submits to the jurisdiction of such
courts for the purpose of any such suit, action or proceeding. The Optionee
hereby irrevocably and unconditionally waives trial by jury in any legal action
or proceeding in relation to this Agreement and for any counterclaim therein.

 

10

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