Document:

Form of AMN Healthcare Equity Plan Performance Restricted Stock Unit Agreement

 Exhibit 10.1 
 AMN HEALTHCARE 
 EQUITY PLAN 

PERFORMANCE RESTRICTED STOCK UNIT AGREEMENT 
 THIS RESTRICTED STOCK UNIT AGREEMENT (the “Agreement”), made this [DATE] by and between AMN Healthcare Services, Inc. (the “Company”), a Delaware corporation, and
[EMPLOYEE’S NAME] (the “Grantee”). 

W I T N E S S E T H:

 WHEREAS, the Company sponsors the AMN Healthcare Equity Plan (the “Plan”), and desires to afford the Grantee
the opportunity to share in the appreciation of the Company’s common stock, par value $.01 per share (“Stock”) thereunder, thereby strengthening the Grantee’s commitment to the welfare of the Company and Affiliates and
promoting an identity of interest between stockholders and the Grantee. 
 NOW THEREFORE, in consideration of the covenants and
agreements herein contained, the parties hereto hereby agree as follows: 
 1. Definitions. 

The following definitions shall be applicable throughout the Agreement. Where defined terms are not defined herein, their meaning shall
be that set forth in the Plan. 
 (a) “Accelerated End Date” means the date five (5) calendar days (or
such shorter period as may be established by the Committee in its sole discretion) prior to the Change in Control. 
 (b)
“Accumulated Shares” means, for a given day, the sum of (i) one (1) share and (ii) a cumulative number of shares of the company’s common stock purchased with dividends declared on a company’s stock, assuming
same day reinvestment of the dividends into shares of the common stock of a company at the closing price on the ex-dividend date, for ex-dividend dates during the Opening Average Period or for the period between December 31, 2010 and the last
day of the Closing Average Period, as the case may be. 
 (c) “Affiliate” means (i) any entity that
directly or indirectly is controlled by, or is under common control with the Company and (ii) any entity in which the Company has a significant equity interest, in either case as determined by the Committee. 

(d) “Cause” means the Company or an Affiliate having “cause” to terminate a Grantee’s employment or
service, as defined in any existing employment, consulting or any other agreement between the Grantee and the Company or a Subsidiary or Affiliate, or, in the absence of such an employment, consulting or other agreement, upon (i) the
determination by the Committee that the Grantee has ceased to perform 

 
his/her duties to the Company or an Affiliate (other than as a result of his/her incapacity due to physical or mental illness or injury), which failure amounts to an intentional and extended
neglect of his/her duties to such party, (ii) the Committee’s determination that the Grantee has engaged or is about to engage in conduct injurious to the Company or an Affiliate, (iii) the Grantee having been convicted of, or pleaded
guilty or no contest to, a felony or a crime involving moral turpitude or (iv) the failure of the Grantee to follow the lawful instructions of the Board or Grantee’s direct superiors; provided, however, that in the instances
of clauses (i), (ii) and (iv), the Company or Affiliate, as applicable, must give the Grantee twenty (20) days’ prior written notice of the defaults constituting “cause” hereunder. 

(e) “Change in Control” shall, unless in the case of a particular RSU, the applicable Restricted Stock Unit Agreement
states otherwise or contains a different definition of “Change in Control,” be deemed to occur upon: 
 (i) the
acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the
meaning of Rule 13d-3 promulgated under the Exchange Act) of a majority of the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors; 

(ii) the sale of all or substantially all of the business or assets of the Company; or 

(iii) the consummation of a merger, consolidation or similar form of corporate transaction involving the Company that requires the
approval of the Company’s stockholders, whether for such transaction or the issuance of securities in the transaction (a “Business Combination”), if immediately following such Business Combination: (x) a Person is or becomes the
beneficial owner, directly or indirectly, of a majority of the combined voting power of the outstanding voting securities eligible to elect directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation), or
(y) the Company’s stockholders prior to the Business Combination thereafter cease to beneficially own, directly or indirectly, a majority of the combined voting power of the outstanding voting securities eligible to elect
directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation), counting for this purpose only voting securities of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation)
received by such stockholders in connection with the Business Combination. “Surviving Corporation” shall mean the corporation resulting from a Business Combination, and “Parent Corporation” shall mean the ultimate parent
corporation that directly or indirectly has beneficial ownership of a majority of the combined voting power of the then outstanding voting securities of the Surviving Corporation entitled to vote generally in the election of directors. 

 (f) “Closing Average Period” means (i) in the absence of a Change in
Control, the ninety (90) -day period ending on the last day of the Performance Period; or (ii) in the case of a Change in Control, the ninety (90) day period ending on the Accelerated End Date. 

(g) “Closing Average Share Value” means the average, over the days in the Closing Average Period, of the closing price
of the company’s stock multiplied by the Accumulated Shares for each day during the Closing Average Period. 
 (h)
“Committee” means the compensation committee of the Board or a similar committee performing the functions of the compensation committee and which is comprised of not less than two Non-Employee Directors who are independent.

 (i) “Credited Service” shall mean the performance of Service on a substantially full time basis for a
continuous twelve-month period. For this purpose, substantially full time basis shall mean that the employee or consultant provides regular and recurring services to the Company of at least 32 hours each week. The taking of approved Paid Time Off or
legally mandated leave, such as FMLA, does not interrupt this period of Credited Service. 
 (j) “Grant Date”
means [DATE] which is the date specified in the authorization of this RSU grant. 
 (k) “Grantee” means an
individual who has been selected by the Committee to participate in the Plan and to receive a RSU grant pursuant to Section 2. 
 (l) “Opening Average Period” means the ninety (90) day period ending on December 31, 2010. 
 (m) “Opening Average Share Value” means the average during the Opening Average Period of the closing price of a company’s stock multiplied by the Accumulated Shares for each trading
day during the Opening Average Period. 
 (n) “Peer Companies” means the companies included in the Russell
2000 on December 31, 2010. (i) In the event of a merger, acquisition or business combination transaction of a Peer Company with or by another Peer Company, the surviving entity shall remain a Peer Company. (ii) In the event of a
merger of a Peer Company with an entity that is not a Peer Company, or the acquisition or business combination transaction by or with a Peer Company, or with an entity that is not a Peer Company, in each case where the Peer Company is the surviving
entity and remains publicly traded, the surviving entity shall remain a Peer Company. (iii) In the event of a merger or acquisition or business combination transaction of a Peer Company by or with an entity that is not a Peer Company, a
“going private” transaction involving a Peer Company or the liquidation of a Peer Company, where the Peer Company is not the surviving entity or is otherwise no longer publicly traded, the company shall no longer be a Peer Company.
(iv) In the event of a bankruptcy of a Peer Company, such company shall remain a Peer Company. 

 (o) “Performance Period” is December 31, 2010 through the earlier of
(i) the Accelerated End Date and (ii) December 31, 2013. 
 (p) “Relative Total Shareholder Return”
or “Relative TSR” means the Company’s TSR relative to the TSR of the Peer Companies. Relative TSR will be determined by ranking the Company and the Peer Companies from highest to lowest according to their respective TSRs. After
this ranking, the percentile performance of the Company relative to the Peer Companies will be determined as follows: 

 

 

 where: “P” represents the percentile performance which will be rounded, if necessary, to the
nearest whole percentile by application of regular rounding. 
 “N” represents the remaining number of Peer Companies,
plus the Company. 
 “R” represents Company’s ranking among the Peer Companies. 

Example: If there are 1000 remaining Peer Companies, and the Company ranked 500th, the performance would be at the 50th percentile: .50 = 1 – ((500-1)/(1001-1)). 

(q) “Restricted Stock Unit” or “RSU” means an award granted under Section 2. 

(r) “Service” shall mean the performance of services for the Company (or any Affiliate) by a person in the capacity of
an officer or other employee or key person (including consultants). 
 (s) “Total Shareholder Return” or
“TSR” means for each of the Company and the Peer Companies, the company’s total shareholder return, which will be calculated by dividing (i) the Closing Average Share Value by (ii) the Opening Average Share Value, and
then subtracting one (1). 
 (t) “Vesting Date” means the date on which the Committee determines the TSR or
Relative TSR. 
 2. Grant of Performance Restricted Stock Units. Subject to the terms and conditions set forth
herein, the Company hereby grants to the Grantee [XXX] Performance Restricted Stock Units (“RSUs), which shall be the target number. The actual number of RSUs that vest may be more or less than the target number. 

3. Vesting Schedule. No RSUs may be settled until they shall have vested. Except as otherwise set forth in this Agreement
or in the Plan, the RSUs will vest in accordance with the vesting table (the “Vesting Table”) set forth on Schedule I, based on the Company’s achievement of Total Shareholder Return and Relative Total Shareholder Return for the
Performance Period. Any fractional share resulting from the 

 
application of the percentages in the Vesting Table shall be rounded to the nearest whole number of shares. The Committee shall determine the Total Shareholder Return and Relative TSR, if any,
within 30 days after the earlier of the (i) Accelerated End Date or the (ii) Performance Period. On the Vesting Date, all RSUs that do not vest shall be automatically forfeited to the Company and the right to receive any RSUs that do not
vest shall be automatically forfeited. 
 4. Settlement and Deferral of RSUs. 

(a) Each vested RSU entitles the Grantee to receive one share of Stock on the “Settlement Date” which shall be the
later of (i) the Vesting Date for such RSU or (ii) the end of the deferral period specified by the Grantee. The deferral period shall be no less than three (3) years and five (5) days from the Grant Date. Such deferral election
shall be made within 30 days of the Grant Date. This deferral period will apply only to the deferral election made on the specific deferral election form. In addition, any such deferral must apply to receipt of all shares of Stock earned with
respect to the entire Grant. (If no deferral period is specified on the deferral election form, Stock will be issued as soon as practicable upon vesting of the RSUs). If the Grantee wishes to elect to delay his original Settlement Date, such
election must be made at least twelve (12) months in advance of the Settlement Date and the new Settlement Date must be at least five (5) years after the original Settlement Date. 

(b) Shares of Stock underlying the RSUs shall be issued and delivered to the Grantee in accordance with paragraph (a) and upon
compliance to the satisfaction of the Committee with all requirements under applicable laws or regulations in connection with such issuance and with the requirements hereof and of the Plan. The determination of the Committee as to such compliance
shall be final and binding on the Grantee. The shares of Stock delivered to the Grantee pursuant to this Section 4 shall be free and clear of all liens, fully paid and non-assessable. 

(c) Until such time as shares of Stock have been issued to the Grantee pursuant to paragraph (b) above, and except as set forth in
Section 5 below regarding dividend equivalents, the Grantee shall not have any rights as a holder of the shares of Stock underlying this Grant including but not limited to voting rights. 

(d) The Grantee may be required to pay to the Company or any Affiliate, and the Company or any Affiliate shall have the right and is
hereby authorized to withhold from any shares of Stock or other property deliverable under the RSU or from any compensation or other amounts owing to the Grantee the amount (in cash, Stock or other property) of any required tax withholding and
payroll taxes in respect of an RSU vesting or settlement and to take such other action as may be necessary in the opinion of the Company to satisfy all obligations for the payment of such taxes. 

(e) Without limiting the generality of clause (d) above, in the Committee’s sole discretion the Grantee may satisfy, in whole
or in part, the foregoing withholding liability (but no more than the minimum required withholding liability) by having the Company withhold from the number of shares of Stock otherwise issuable pursuant to the settlement of the RSU a number of
shares with a Fair Market Value equal to such withholding liability. 

 5. Dividend Equivalents. If on any date the Company shall pay any cash
dividend on shares of Stock of the Company, the number of RSUs credited to the Grantee pursuant to the Vesting Table shall, as of such date, be increased by an amount determined by the following formula: 

W = (X multiplied by Y) divided by Z, where: 
 W = the number of additional RSUs to be credited to the Grantee on such dividend payment date; 
 X = the aggregate number of RSUs (whether vested or unvested) credited to the Grantee as of the record date of the dividend; 
 Y = the cash dividend per share amount; and 
 Z = the Fair Market Value per share
of Stock (as determined under the Plan) on the dividend payment date. 
 6. Termination of Employment. 

(a) If, prior to the Settlement Date, the Grantee shall undergo: a termination of full-time employment if an employee (and also
termination of Service if a director); or cessation of providing Credited Service if a consultant, each other than for Cause, the RSUs which are not vested at the date of such termination shall expire on such date. In the event of such
termination, if there are any deferred vested RSUs, regardless of the Grantee’s deferral election, the Company, as soon as practicable following the effective date of termination shall issue shares of Stock to Grantee (or Grantee’s
designated beneficiary or estate executor in the event of Grantee’s death) with respect to any such deferred vested RSUs for which shares of Stock had not yet been issued to Grantee. Notwithstanding the foregoing, if the Grantee is a specified
employee (as defined in Section 409A of the Code), any distribution on account of termination of employment shall be delayed six months and a day after the Grantee’s separation from service (within the meaning of Section 409A of the
Code and the regulations promulgated thereunder) after such termination of employment. 
 (b) If, prior to the Settlement Date,
the Grantee is terminated from the employment or service with the Company for Cause, all RSUs then held by such Grantee (whether or not vested) shall expire immediately upon such cessation of employment or service. 

 7. Company; Grantee. 

(a) The term “Company” as used in this Agreement with reference to employment shall include the Company, its
Subsidiaries and its Affiliates, as appropriate. 
 (b) Whenever the word “Grantee” is used in any provision
of this Agreement under circumstances where the provision should logically be construed to apply to the beneficiaries, the executors, the administrators, or the person or persons to whom the RSUs may be transferred by will or by the laws of descent
and distribution, the word “Grantee” shall be deemed to include such person or persons. 
 8.
Non-Transferability. The RSUs are not transferable by the Grantee other than to a designated beneficiary upon death, by will or the laws of descent and distribution or to a trust solely for the benefit of the Grantee or his/her
immediate family. 
 9. Forfeiture for Non-Compete Violation. 

(a) Non-Compete. The Grantee agrees that during the term of Grantee’s employment and for a period of two years thereafter
(the “Coverage Period”) the Grantee will not engage in, consult with, participate in, hold a position as shareholder, director, officer, consultant, employee, partner or investor, or otherwise assist any business entity (i) in any
State of the United States of America or (ii) in any other country in which the Company has business activities, in either case, that is engaged in any activities which are competitive with the business of providing healthcare or other
personnel on a temporary or permanent placement basis to hospitals, healthcare facilities, healthcare provider practice groups or other entities, clinical workforce management services, home healthcare services and any and all business activities
reasonably related thereto in which the Company or any of its divisions, affiliates or subsidiaries are then engaged. 
 (b)
Non-Solicit. The Grantee agrees that during the Coverage Period, Grantee shall not solicit, attempt to solicit or endeavor to entice away from the Company any person who, at any time during the term of Grantee’s employment was a nurse,
physician, allied healthcare professional or other healthcare professional, employee, customer, client or supplier of the Company. 
 (c) Confidential and Proprietary Information. The Grantee agrees that Grantee will not, at any time make use of or divulge to any other person, firm or corporation any confidential or proprietary
information concerning the business or policies of the Company or any of its divisions, affiliates or subsidiaries. For purposes of this Agreement, any confidential information shall constitute any information designated as confidential or
proprietary by the Company or otherwise known by the Grantee to be confidential or proprietary information including, without limitation, customer information. Grantee acknowledges and agrees that for purposes of this Agreement, “customer
information” includes without limitation, customer lists, all lists of 

 
professional personnel, names, addresses, phone numbers, contact persons, preferences, pricing arrangements, requirements and practices. Grantee’s obligation under this Section 9(c)
shall not apply to any information which (i) is known publicly; (ii) is in the public domain or hereafter enters the public domain without the fault of Grantee; or (iii) is hereafter disclosed to Grantee by a third party not under an
obligation of confidence to the Company. Grantee agrees not to remove from the premises of the Company, except as an employee of the Company in pursuit of the business of the Company or except as specifically permitted in writing by the Company, any
document or other object containing or reflecting any such confidential or proprietary information. Grantee recognizes that all such information, whether developed by the Grantee or by someone else, will be the sole exclusive property of the
Company. Upon termination of employment, Grantee shall forthwith deliver to the Company all such confidential or proprietary information, including without limitation all lists of customers, pricing methods, financial structures, correspondence,
accounts, records and any other documents, computer disks, computer programs, software, laptops, modems or property made or held by Grantee or under Grantee’s control in relation to the business or affairs of the Company or any of its
divisions, subsidiaries or affiliates, and no copy of any such confidential or proprietary information shall be retained by Grantee. 
 (d) Forfeiture for Violations. If the Grantee shall at any time violate the provisions of Section 9(a), (b), or (c), the Grantee shall immediately forfeit his/her RSUs (whether vested or
unvested) and any issuance of shares of Stock which occurs after (or within 6 months before) any such violation shall be void ab initio. 
 10. Rights as Stockholder. The Grantee or a transferee of the RSUs shall have no rights as a stockholder with respect to any share of Stock covered by the RSUs until the Grantee shall
have become the holder of record of such share and no adjustment shall be made for dividends or distributions or other rights in respect of such share of Stock for which the record date is prior to the date upon which Grantee shall become the holder
of record thereof. 
 11. Effect of Change in Control. 

(a) In the event of a Change in Control, the RSUs shall vest in accordance with Section 3. The Company shall issue shares of Stock
to the Grantee to settle the vested RSUs, if any, on the Settlement Date of such RSU. 
 (b) The obligations of the Company
under this Agreement shall be binding upon any successor corporation or organization resulting from the merger, consolidation or other reorganization of the Company, or upon any successor corporation or organization succeeding to substantially all
of the assets and business of the Company. The Company agrees that it will make appropriate provisions for the preservation of the Grantee’s rights under this Agreement in any agreement or plan which it may enter into or adopt to effect any
such merger, consolidation, reorganization or transfer of assets. 
 12. Notice. Every notice or other
communication relating to this Agreement shall be in writing, and shall be mailed to or delivered to the party for whom 

 
it is intended at such address as may from time to time be designated by it in a notice mailed or delivered to the other party as herein provided, provided that, unless and until some other
address be so designated, all notices or communications by the Grantee to the Company shall be mailed or delivered to the Company at its principal executive office, and all notices or communications by the Company to the Grantee may be given to the
Grantee personally or may be mailed to Grantee at Grantee’s address as recorded in the records of the Company. 
 13.
No Right to Continued Employment. This Agreement shall not be construed as giving the Grantee the right to be retained in the employ or service of the Company, a Subsidiary or an Affiliate. Further, the Company or an Affiliate may at
any time dismiss the Grantee or discontinue any consulting relationship, free from any liability or any claim under this Agreement, except as otherwise expressly provided herein. 

14. Binding Effect. Subject to Section 7 hereof, this Agreement shall be binding upon the heirs, executors,
administrators and successors of the parties hereto. 
 15. Amendment of Agreement. The Committee may, to the
extent consistent with the terms of this Agreement, waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate, any portion of the RSUs heretofore granted, prospectively or retroactively;
provided that any such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination that would impair the rights of the Grantee in respect of any RSUs already granted shall not to that extent be effective without the
consent of the Grantee. 
 16. RSUs Subject to Plan and 2005 Amended and Restated Executive Nonqualified Excess Plan, as
amended. By entering into this Agreement, the Grantee agrees and acknowledges that the Grantee has received and read a copy of the Plan and a copy of the Company’s 2005 Amended and Restated Executive Nonqualified Excess Plan. The RSUs
are subject to the terms of both plans. The terms and provisions of the plans as they may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term
or provision of either the Plan or the Company’s 2005 Amended and Restated Executive Nonqualified Excess Plan, the applicable terms and provisions of the applicable plan will govern and prevail. 

17. Governing Law. This Agreement shall be construed and interpreted in accordance with the internal laws of the State
of Delaware without regard to the principles of conflicts of law thereof, or principles of conflicts of laws of any other jurisdiction which could cause the application of the laws of any jurisdiction other than the State of Delaware. 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and
year first above written. 
  

			
	AMN HEALTHCARE SERVICES, INC.
		
	By:	 	 
		 	 Name: Susan R. Salka

Title:   President and CEO

 

			
	GRANTEE
		
	By:	 	 
		 	Name: [EMPLOYEE’S NAME]Exhibit 10.1

 Exhibit 10.1 
 AMENDMENT ONE TO 
 TERRITORIAL SAVINGS BANK 

AMENDED AND RESTATED 
 SUPPLEMENTAL EMPLOYEE RETIREMENT AGREEMENT 
 FOR VERNON
HIRATA 
 WHEREAS, Territorial Savings Bank (the “Bank”), and Vernon Hirata, Executive Vice President
and General Counsel of the Bank (the “Executive”) entered into the Territorial Savings Bank Amended and Restated Supplemental Employee Retirement Agreement for Vernon Hirata (the “SERP”), effective as of October 29, 2008;
and 
 WHEREAS, the Agreement was a restatement of the Supplemental Employee Retirement Agreement entered into by the
Bank and the Executive as of January 1, 2002 (the “Predecessor Agreement”); and 
 WHEREAS, Clark
Consulting, the compensation consulting firm which drafted the Predecessor Agreement, recently informed the Bank and the Executive that there was a drafting error in the Predecessor Agreement, whereby the offsets that should have applied to the
early retirement benefit were inadvertently not included in the relevant section of the Predecessor Agreement; and 

WHEREAS, all of the required financial statement reporting and accruals, tax reporting and payments and benefit statement
reporting have correctly been handled as if the offsets to the early retirement benefit had been included in the Predecessor Agreement, which was the original intent of the Bank and the Executive. 

NOW THEREFORE, solely in order to correct the inadvertent drafting error, such that the Agreement correctly reflects the intent of
the Bank and the Executive, the Agreement is hereby amended as follows, effective as of January 1, 2002. 
  

	 	1.	Section 2.2.1 of the Agreement is hereby amended to read as follows: 

2.2.1 Amount of Benefit. The Early Termination Benefit under this Section 2.2 is the annual amount equal to
65% of the Executive’s Final Average Compensation multiplied by a fraction not exceeding one, the numerator of which is the Executive’s completed Years of Service and the denominator of which is the Executive’s potential Years of
Service determined as if the Executive remained employed by the Bank until the Executive’s Normal Retirement Date, minus Social Security Benefit minus Pension Offset. The Early Termination Benefit shall be paid for a term of certain of 15
years. 
 IN WITNESS WHEREOF, the Executive and the Bank have signed this Amendment on the dates set forth below.

  
  

									
		 		 		 	TERRITORIAL SAVINGS BANK
					
	March 30, 2011	 		 		 	By:	 	 /s/ Harold Ohama

	Date	 		 		 	Chairman, Compensation Committee of the Board
				
	March 30, 2011	 		 		 	 /s/ Vernon Hirata

	Date	 		 		 	Vernon Hirata

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