Document:

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EXHIBIT 10.1 (b)

SENSIENT TECHNOLOGIES CORPORATION

(a Wisconsin Corporation)

2007 Restricted Stock Plan

RESTRICTED STOCK UNIT AGREEMENT

	 
	Grantee:

	 

	Grantee’s Address:

	 

	Grant Date:

	 

	Number of Restricted Stock Units:

	 

	Period of Restriction:

	 

     Sensient Technologies Corporation, a Wisconsin corporation (the “Company”), and the
above-named Grantee hereby agree as follows:

     1. Grant of Restricted Stock Units. In consideration of the continued employment of the
Grantee for the periods herein defined, and in consideration of the Grantee having entered into a
Noncompetition, Nonsolicitation and Confidentiality Agreement (or an agreement of similar purpose
and effect, however titled) prior to or contemporaneous with this Agreement, the Company grants to
the Grantee the number of Restricted Stock Units stated above upon the terms and conditions set
forth herein.

     2. Plan; Defined Terms. This grant of Restricted Stock Units is made pursuant to the Company’s
2007 Restricted Stock Plan (the “Plan”) and is subject to each and all of the provisions of the
Plan. A copy of the Plan is attached to this Agreement and is made a part hereof. All capitalized
terms used in this Agreement, including the terms set forth in the table above, have the meanings
assigned to them in this Agreement. Any capitalized terms that are not defined in this Agreement
are defined in the Plan. Certain other terms used in this Agreement are also defined herein.

     3. Period of Restriction. The Period of Restriction shall be as stated above.

     4. Restrictions. The Restricted Stock Units may not be sold, transferred, pledged, assigned
or otherwise alienated during the Period of Restriction except as provided in the Plan. The
Restricted Stock Units shall become immediately vested upon the termination of the Period of
Restriction and the Company shall issue Grantee one share of Stock for each Restricted Stock Unit
which has become vested.

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     5. Termination of Employment.

          (a) In the event that the Grantee terminates his or her employment with the Company because of
normal retirement (under the terms of the Company’s Employee Stock Ownership Plan (“ESOP”) in
effect on the date of such termination of employment (or on the date the ESOP is terminated if not
then in effect)), the Period of Restriction with respect to any Restricted Stock Units held by the
Grantee shall automatically terminate and the Company shall issue Grantee one share of Stock for
each Restricted Stock Unit which has become vested.

          (b) In the event that the Grantee terminates his or her employment with the Company because of
“early retirement” (under the terms of the ESOP in effect on the date of such termination of
employment (or on the date the ESOP is terminated if not then in effect)) the Committee may, in its
sole discretion, waive the Period of Restriction and/or add such new restrictions to the Restricted
Stock Units as it deems appropriate.

          (c) In the event the Grantee terminates his or her employment with the Company because of
death or Disability during the Period of Restriction, the Period of Restriction shall terminate
automatically with respect to that number of Restricted Stock Units (rounded to the nearest whole
number) equal to the total number of Restricted Stock Units granted multiplied by the number of
full months which have elapsed since the Grant Date divided by the maximum number of full months of
the Period of Restriction. All remaining Restricted Stock Units shall be forfeited; provided,
however, that the Committee may, in its sole discretion, waive the restrictions remaining on all
such remaining Restricted Stock Units. “Disability” means the permanent and total inability, by
reason of physical or mental infirmity, or both, of the Grantee to perform the work customarily
assigned to him or her by the Company. The determination of the existence or nonexistence of a
Disability shall be made by the Committee based on satisfactory medical evidence.

          (d) In the event the employment of the Grantee with the Company is terminated by any reason
other than death, Disability, normal retirement, or early retirement prior to the expiration of the
Period of Restriction, then the Restricted Stock Units shall be automatically forfeited by the
Grantee.

     6. Forfeiture of Restricted Stock Units and Repayment of Restricted Stock Unit Value.

          (a) If, at any time after the Grant Date, the Grantee engages in any act in violation of any
agreement between Grantee and the Company (whether executed prior to, simultaneous with, or after
the date of this Agreement) having the effect or purpose of prohibiting or restricting all or any
of (A) the disclosure by Grantee of confidential information obtained from the Company or any
subsidiary; (B) activities by the Grantee in competition with the Company or any subsidiary; or (C)
solicitation by the Grantee of customers of the Company or any subsidiary in competition with the
Company or any subsidiary (including, without limitation, any agreement entitled “Noncompetition,
Nonsolicitation and Confidentiality Agreement”), or any amendment thereto or extension thereof or
successor or replacement agreement, then notwithstanding any other terms of this Grant:

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               (i) If the Period of Restriction has not then expired, the Restricted Stock Units shall
automatically be forfeited by the Grantee; and

               (ii) If the Period of Restriction expired prior to the termination date of the agreement
referred to in the introductory portion of this subparagraph (a), the Grantee shall be obligated to
pay to the Company the Restricted Stock Unit Value. “Restricted Stock Unit Value” shall mean the
total market value of the shares of Stock as determined based upon the closing price of the Stock
on the New York Stock Exchange on the expiration date of the Period of Restriction.

          (b) Notwithstanding the foregoing, this Section 7 shall immediately become null and void and
of no further force and effect upon the occurrence of a Change of Control.

     7. Tax Withholding. The Grantee may by written election, elect to pay all or a portion of the
federal, state and local withholding taxes arising in connection with the lapse of restrictions on
Restricted Stock, by electing to (a) have the Company withhold shares of Stock to be issued in
connection with such benefit provided, however, that the amount to be withheld shall not exceed the
Company’s minimum statutory federal, state and local tax withholding obligations for the Grantee
(“Minimum Obligations”) associated with the transaction, (b) have the Company withhold up to 50% of
the shares of Stock to be issued in connection with such benefit provided that the Grantee can
demonstrate that the Grantee holds previously owned shares of Stock (“Previous Shares”) equal to
the difference between the amount withheld and the Minimum Obligations and that the Previous Shares
have been held for a minimum of six months and the Grantee agrees to hold the Previous Shares for
at least six months from the date of the lapse of restrictions, (c) deliver up to 50% of other
previously owned shares of Stock, having a Fair Market Value equal to the amount to be withheld
provided that the shares have been held by the Grantee for a minimum of six months, or (d) pay the
withholding amount in cash. The written election must be made on or before the date as of which the
amount of tax to be withheld is determined. The Fair Market Value of fractional shares of Stock
remaining after payment of the withholding taxes shall be paid to the Grantee in cash.

     8. Rights as Shareholder. Grantee shall not be entitled to vote or to receive dividends until
the Restricted Stock Units have become vested and shares of Stock are issued to Grantee.

     9. No Right to Continued Employment. This Grant shall not confer upon Grantee any right with
respect to continuance of employment by the Company or any subsidiary, nor shall it interfere in
any way with the right of the Company to terminate Grantee’s employment at any time.

     10. Designation of Beneficiary. The person designated by the Grantee as his or her beneficiary
or any successor designated by the Grantee in accordance herewith (the “Beneficiary”) shall be
entitled to the Restricted Stock Units as to which the Period of Restriction has not expired,
subject to Section 6(c) hereof, after the death of the Grantee. The Grantee may from time to time
revoke or change his or her Beneficiary without the consent of any prior Beneficiary by filing a
new designation with the Committee. The last such designation received by the Committee shall be
controlling; provided, however, that no designation, or

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change or revocation thereof, shall be effective unless received by the Committee prior to the
Grantee’s death, and in no event shall any designation be effective as of a date prior to such
receipt. If no such Beneficiary designation is in effect at the time of the Grantee’s death, or if
no designated Beneficiary survives the Grantee, or if such designation conflicts with law, the
Grantee’s estate acting through his or her legal representative, shall be entitled to the
Restricted Stock Units as to which the Period of Restriction has not expired, subject to Section
6(c) hereof, after the death of the Grantee.

     11. Powers of the Company Not Affected. The existence of the Restricted Stock Units shall not
affect in any way the right or power of the Company or its shareholders to make or authorize any or
all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital
structure or its business, or any merger or consolidation of the Company, or any issuance of bonds,
debentures, preferred or prior preference stock ahead of or affecting the Company’s common stock or
the rights thereof, or dissolution or liquidation of the Company, or any sale or transfer of all or
any part of the Company’s assets or business or any other corporate act or proceeding, whether of a
similar character or otherwise.

     12. No Tax Gross-Up. Grantee shall not be entitled to any tax gross-up as a result of the
lapse of restrictions under this Agreement.

     13. Interpretation by Committee. As a condition of the granting of the Restricted Stock Units,
the Grantee agrees, for himself and his legal representatives or guardians, successors and assigns,
that this Agreement shall be interpreted by the Committee and that any interpretation by the
Committee of the terms of this Agreement and any determination made by the Committee pursuant to
this Agreement shall be final, binding and conclusive.

     14. Severability. Wherever possible, each provision of this Agreement will be interpreted in
such manner as to be effective and valid under applicable law, but if any provision hereof is held
to be prohibited by or invalid under applicable law, such provision will be ineffective only to the
extent of such prohibition or invalidity, without invalidating the remainder of such provision or
the remaining provisions hereof.

     IN WITNESS WHEREOF, the parties have executed this Restricted Stock Agreement, in duplicate,
as of the date of grant shown above.

	 	 	 	 	 
	 	 	SENSIENT TECHNOLOGIES CORPORATION
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 	 	Vice President — Administration
	 
	 	 	 	 
	 

Grantee

	 	 	 	 

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EXHIBIT 10.2 (a)

SENSIENT TECHNOLOGIES CORPORATION

2002 STOCK OPTION PLAN

(as amended and restated on April 24, 2008)

Section 1 Establishment, Purpose and Amendment and Restatement of Plan.

     1.1 Establishment. Sensient Technologies Corporation, a Wisconsin corporation (the
“Company”), hereby establishes the “SENSIENT TECHNOLOGIES CORPORATION 2002 STOCK OPTION PLAN” (the
“Plan”) for officers and key employees. This Plan permits the grant of Options, Restricted Stock
and Restricted Stock Units, each as described herein.

     1.2 Purpose. The purpose of this Plan is to advance the interests of the Company by
encouraging and providing for the acquisition of an equity interest in the Company by its officers
and key employees, and by enabling the Company to attract and retain the services of officers and
key employees upon whose judgment, interest and special effort the successful conduct of its
operations is largely dependent.

     1.3 Effective Date; Amendment and Restatement. This Plan became effective on April 25, 2002
(the “Effective Date”), the date on which the Plan was approved by the shareholders of the Company.
On April 24, 2008, the Plan was amended and restated to permit the grant of restricted stock
units, in addition to options and restricted stock.

Section 2 Definitions.

     2.1 Definitions. Capitalized terms used herein without definition shall have the respective
meanings set forth below:

	 	(a)	 	“Award” means any Option, Restricted Stock or Restricted Stock
Unit, or any other benefit conferred under the terms hereof.
	 
	 	(b)	 	“Board” means the Board of Directors of the Company.
	 
	 	(c)	 	“Code” means the Internal Revenue Code of 1986, as amended.
	 
	 	(d)	 	“Committee” means the Compensation and Development Committee of
the Board.
	 
	 	(e)	 	“Exchange Act” means the Securities Exchange Act of 1934, as
amended.
	 
	 	(f)	 	“Exercise Price” means the price payable in respect of an
Option.
	 
	 	(g)	 	“Fair Market Value” means, as of any date of determination, the
closing price of a share of Stock on the New York Stock Exchange (or on such
other recognized market or quotation system on which the trading prices of
Stock are traded or quoted at the relevant time) as reported on the

 

 

	 	 	 	composite list used by The Wall Street Journal for reporting stock prices,
or if no such sale shall have been made on that day, on the last preceding
day on which there was such a sale.
	 
	 	(h)	 	“Option” means the right to purchase Stock at a stated price
for a specified period of time. For purposes of this Plan an Option may be
either: (i) an “incentive stock option” within the meaning of Section 422(b) of
the Code; or (ii) an option which is not intended to qualify as an incentive
stock option (a “nonstatutory stock option”).
	 
	 	(i)	 	“Participant” means any individual designated by the Committee
to participate in this Plan.
	 
	 	(j)	 	“Period of Restriction” means the period during which an Award
is forfeitable pursuant to Section 8 or Section 9 hereof.
	 
	 	(k)	 	“Restricted Stock” means Stock granted to a Participant
pursuant to Section 8 hereof.
	 
	 	(l)	 	“Restricted Stock Unit” means a restricted stock unit granted
to a Participant pursuant to Section 9 hereof.
	 
	 	(m)	 	“Stock” means the Common Stock of the Company, par value of
$0.10.

     2.2 Gender and Number. Except when otherwise indicated by the context, words in the masculine
gender when used in this Plan shall include the feminine gender, the singular shall include the
plural and the plural shall include the singular.

Section 3 Eligibility and Participation.

     Participants in this Plan shall be selected by the Committee from among those officers and key
employees of the Company and its subsidiaries, including subsidiaries which become such after
adoption hereof, who are recommended for participation by the Company’s Chief Executive Officer and
who, in the opinion of the Committee, are in a position to contribute materially to the Company’s
continued growth and development and to its long-term financial success. The Committee’s
designation of any person to receive an Award shall not require the Committee to designate such
person to receive an Award at any subsequent time.

Section 4 Administration.

     4.1 Administration. This Plan shall be administered by the Committee.

     4.2 Powers and Authority of the Committee. The Committee, by majority action thereof, shall
have complete and sole authority to:

	 	(a)	 	designate officers and key employees to receive Awards;
	 
	 	(b)	 	determine the type of Awards to be granted to Participants;

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	 	(c)	 	determine the number of shares of Stock to be covered by Awards
granted to Participants;
	 
	 	(d)	 	determine the terms and conditions of any Award granted to any
Participant (which may, in the discretion of the Committee, differ from
Participant to Participant), including, without limitation, provisions relating
to the vesting of Awards over a period of time, upon the attainment of
specified performance goals, or otherwise;
	 
	 	(e)	 	interpret this Plan and apply its provisions, and prescribe,
amend and rescind rules, regulations, procedures, and forms relating to this
Plan;
	 
	 	(f)	 	authorize any person to execute, on behalf of the Company, any
instrument required to carry out the purposes of this Plan;
	 
	 	(g)	 	amend any outstanding agreement relating to any Award, subject
to applicable legal restrictions and, to the extent such amendment may
adversely affect the Participant who entered into such agreement, to the
consent of such Participant;
	 
	 	(h)	 	prescribe the consideration for the grant of each Award
hereunder and determine the sufficiency of such consideration; and
	 
	 	(i)	 	make all other determinations and take all other actions deemed
necessary or advisable for the administration hereof and provide for conditions
and assurances deemed necessary or advisable to protect the interests of the
Company and its affiliates in connection herewith; but only to the extent that
any of the foregoing are not contrary to the express provisions hereof. No term
of this Plan relating to incentive stock options shall be interpreted, amended
or altered, nor shall any discretion or authority granted under the Plan be so
exercised, so as to disqualify the Plan under Section 422 of the Code.
Determinations, interpretations or other actions made or taken by the Committee
pursuant to the provisions hereof shall be final, binding and conclusive for
all purposes and upon all persons. The Committee’s decisions need not be
uniform and may be made selectively among Participants, whether or not they are
similarly situated.

     4.3 Composition of the Committee. The Committee shall consist of not less than two directors.
Each member of the Committee shall be both a “nonemployee director” (within the meaning of Rule
16b-3 under the Exchange Act) and an “outside director” (within the meaning of Section 162(m)(4)(C)
of the Code); provided, however, that in the event any Committee member does not satisfy both
conditions of the first clause of this sentence, then the Committee shall, with respect to any
Award to be made to any Participant who is subject to Section 16 of the Exchange Act (“Section 16
Participant”) or who is subject to the provisions of Section 162(m) of the Code, delegate its
functions with respect to such Award to a subcommittee (of not less than two directors) which
consists exclusively of members who meet both conditions of the first clause of this sentence.
Further, the Committee may delegate to one or more senior officers of

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the Company any or all of the authority and responsibility of the Committee with respect to
this Plan, other than with respect to Section 16 Participants or Participants who are subject to
Section 162(m) of the Code. A majority of the members of the Committee (or subcommittee, as the
case may be) shall constitute a quorum and all determinations of the Committee shall be made by a
majority of its members. Any determination of the Committee may be made without notice or meeting
of the Committee by a writing signed by a majority of the Committee members.

Section 5 Stock Subject to Plan.

     5.1 Number. The total number of shares of Stock reserved and available for issuance under
this Plan shall initially be 2,400,000. The number of shares of Stock reserved and available for
issuance hereunder shall be subject to adjustment upon occurrence of any of the events indicated in
Subsection 5.3 hereof. Of this total number, not more than 600,000 shares of Stock may at any time
be issued as Restricted Stock and not more than 1,800,000 shares of Stock may at any time be issued
under incentive stock options. No Participant may be granted stock options under this Plan with
respect to more than 750,000 shares of Stock (subject to adjustment) during the term of this Plan.
The shares to be issued under this Plan may consist, in whole or in part, of authorized but
unissued Stock or treasury Stock, not reserved for any other purpose.

     5.2 Unused Stock. In the event any shares of Stock that are subject to an Award cease to be
subject to such Award (whether due to expiration, cancellation, termination, forfeiture, or
otherwise) without such shares of Stock being issued or cash being paid to the Participant or, in
the case of Restricted Stock, such Stock being forfeited back to the Company, then the shares of
Stock subject to such Award shall again become available for future Awards hereunder.

     5.3 Adjustment in Capitalization. In the event of any change in the outstanding shares of
Stock that occurs by reason of a Stock dividend or split, recapitalization, merger, consolidation,
combination, spin-off, split-up, exchange of shares or other similar corporate change such that an
adjustment is required to preserve, or to prevent enlargement of, the benefits or potential
benefits made available under this Plan, then the aggregate number and type of equity authorized
for issuance hereunder as well as the number and type of equity subject to each outstanding Award,
and its stated Exercise Price or other reference price (as applicable) shall be appropriately
adjusted by the Committee, whose determination shall be conclusive; provided, however, that
fractional shares shall be rounded to the nearest whole share. In such event, the Committee shall
also have the discretion to make appropriate adjustments in the number of shares of Stock
authorized for issuance hereunder and to make such other adjustments as it deems necessary or
appropriate so as to preserve, or to prevent enlargement of, the benefits or potential benefits
made available under this Plan.

Section 6 Duration of Plan.

     This Plan shall remain in effect, subject to the Board’s right to earlier terminate this Plan
pursuant to Section 13 hereof, until all shares of Stock subject to it shall have been purchased or
acquired pursuant to the provisions hereof. Notwithstanding the foregoing, no Award may be granted
hereunder on or after the tenth (10th) anniversary of the Effective Date.

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Section 7 Stock Options.

     7.1 Grant of Options. Subject to the provisions of Sections 5 and 6 hereof, Options may be
granted to Participants at any time and from time to time as shall be determined by the Committee.
The Committee shall have complete discretion in determining the number of shares of Stock
underlying Options granted to each Participant. The Committee also shall determine whether an
Option is to be an incentive stock option within the meaning of Section 422(b) of the Code or a
nonstatutory stock option. An Option shall be a nonstatutory option unless otherwise specified by
the Committee at the time of grant. Nothing in this Plan to the contrary, the terms and conditions
of incentive stock options shall be in compliance with Section 422 of the Code.

     7.2 Incentive Stock Options. Incentive stock options shall be subject to the limitation that
the Fair Market Value (determined on the date of grant) of all shares of Stock with respect to
which incentive stock options are exercisable for the first time by a Participant during any
calendar year shall not exceed $100,000. This limitation shall not apply to nonstatutory stock
options.

     7.3 Option Agreement. Each Option shall be evidenced by a written agreement (“Option
Agreement”) that shall specify the type of Option granted, the Exercise Price, the duration of the
Option, the number of shares of Stock to which the Option pertains, and such other provisions as
the Committee shall determine. No Participant shall have any rights hereunder until an Option
Agreement has been executed.

     7.4 Exercise Price. No Option granted pursuant hereto shall have an Exercise Price per share
of Stock underlying an Option that is less than the Fair Market Value of a share of Stock on the
date the Option is granted.

     7.5 Duration of Options. Each Option shall expire at such time as the Committee shall
determine; provided, however, that no incentive stock option shall be exercisable later than the
tenth (10th) anniversary date of its grant.

     7.6 Exercise of Options. Options granted hereunder shall be exercisable at such times and be
subject to such restrictions and conditions as the Committee shall in each instance approve, which
need not be the same for all Participants.

     7.7 Payment. The aggregate Exercise Price of any portion of an Option being exercised shall
be payable to the Company in full upon exercise:

	 	(a)	 	in cash or its equivalent, including, in the discretion of the
Committee, a full recourse promissory note issued to the Company by the
Participant (which note shall (i) be secured by the Stock issued; (ii) be for a
term of not more than ten (10) years; (iii) bear interest at the market rate in
effect on the date such promissory note is issued; (iv) require at least annual
payments of principal and interest; and (v) contain such other terms and
conditions as the Committee determines);
	 
	 	(b)	 	by tendering shares of Stock having a Fair Market Value at the
time of exercise equal to the aggregate Exercise Price of the portion of the
Option

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	 	 	 	being exercised, so long as the shares tendered have been held more than six
months; or
	 
	 	(c)	 	by a combination of cash or its equivalent (as defined in
clause (a) above) and shares of Stock. The proceeds from such a payment shall
be added to the general funds of the Company and shall be used for general
corporate purposes.

     7.8 Restrictions on Stock Transferability. The Committee shall impose such restrictions on
any shares of Stock acquired pursuant to the exercise of an Option as it may deem advisable,
including, without limitation, restrictions under applicable Federal securities laws, under the
requirements of any stock exchange upon which such shares of Stock are then listed, and under any
blue sky or state securities laws applicable to such shares.

     7.9 Transferability of Options. The Committee may, in its discretion, and only by expressly
so providing in the Option Agreement covering any Options (which Option Agreement must be approved
by the Committee), permit all or a portion of Options to be granted to a Participant to be
transferable by the Participant: (a) to the Participant’s spouse, or natural or adoptive children
or grandchildren (“Immediate Family Members”); (b) to a trust or trusts for the exclusive benefit
of one or more Immediate Family Members; or (c) to a partnership in which all partners are
Immediate Family Members; provided that there may be no consideration for any such transfer and the
transferee shall be expressly prohibited from any further transfer of such Options other than by
will or pursuant to the laws of descent and distribution. Following such transfer, any Options so
transferred shall be subject to the same terms and conditions as were applicable immediately prior
to such transfer, provided that for purposes of this Plan, the term “Participant” shall be deemed
to include such transferee. The circumstances under which any transferred Option may be terminated,
canceled, or forfeited (whether such circumstances are set forth in this Plan or in the Option
Agreement covering such Options) shall be applied with respect to the transferor Participant to
which the Option was originally granted. Unless expressly so provided in the Option Agreement
covering an Option, no Option granted hereunder may be sold, transferred, pledged, assigned or
otherwise alienated or hypothecated, other than by will or pursuant to the laws of descent and
distribution, and all Options granted to a Participant hereunder shall be exercisable during his
lifetime only by such Participant.

     7.10 Substitute Options. If the Company at any time should succeed to the business of another
corporation through merger or consolidation, or through the acquisition of stock or assets of such
corporation, Options may be granted under this Plan (“Substitute Options”) in substitution of
options previously granted by such corporation and which are outstanding at the date of the
succession (“Surrendered Options”). The Committee shall have discretion to determine the extent to
which such Substitute Options shall be granted, the persons to receive such Substitute Options, the
number of shares of Stock to be subject to such Substitute Options, and the terms and conditions of
such Substitute Options. The Committee shall have the discretion to grant Substitute Options with
terms and conditions that vary from the terms and conditions of the Plan (so long as such terms and
conditions are equivalent to the terms and conditions of the Surrendered Options). The Exercise
Price of the Substitute Option may be determined without regard to Section 7.4 hereof; provided
however, that the Exercise Price of each Substitute Option shall be an amount such that, in the
sole and absolute judgment of the

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Committee (and if the Substitute Options are to be incentive stock options, in compliance with
Section 424(a) of the Code), the economic benefit provided by such Substitute Option is not greater
than the economic benefit represented by the Surrendered Option as of the date of the succession.

     7.11 Forfeiture. Except as otherwise determined by the Committee and set forth in the Option
Agreement, upon termination of employment of a Participant due to death, disability, or for any
other reason, all Options not exercisable in accordance with the Option Agreement immediately prior
to such termination shall be immediately and automatically forfeited to the Company.

Section 8 Restricted Stock.

     8.1 Grant of Restricted Stock. Subject to the provisions of Sections 5 and 6 hereof, the
Committee, at any time and from time to time, may grant shares of Restricted Stock hereunder to
such Participants and in such amounts as it shall determine. Each grant of Restricted Stock shall
be evidenced by a written agreement (“Restricted Stock Agreement”).

     8.2 Other Restrictions. The Committee shall, in the terms and conditions of the Restricted
Stock Agreement, impose such restrictions on any shares of Restricted Stock granted pursuant to
this Plan as it may deem advisable (including, without limitation, restrictions under applicable
Federal or state securities laws), and may legend the certificates representing Restricted Stock to
give appropriate notice of such restrictions. Any Restricted Stock granted to a Section 16
Participant may not be sold for at least six (6) months after the date it is granted.

     8.3 Registration. Any Restricted Stock granted hereunder to a Participant may be evidenced in
such manner as the Committee may deem appropriate, including, without limitation, book-entry
registration or issuance of a stock certificate or certificates. In the event any stock certificate
is issued in respect of shares of Restricted Stock granted hereunder to a Participant, such
certificate shall be registered in the name of the Participant and shall bear an appropriate legend
(as determined by the Committee) referring to the terms, conditions and restrictions applicable to
such Restricted Stock. In the event such Restricted Stock is issued in book-entry form, the
depository and the Company’s transfer agent shall be provided with notice referring to the terms,
conditions and restrictions applicable to such Restricted Stock, together with such stop-transfer
instructions as the Committee deems appropriate.

     8.4 Forfeiture. Except as otherwise determined by the Committee, upon termination of
employment of a Participant due to death, disability, or for any other reason, during the
applicable Period of Restriction, all shares of Restricted Stock still subject to restriction under
the terms of the Restricted Stock Agreement shall be immediately and automatically forfeited to the
Company.

     8.5 Voting Rights. During the Period of Restriction, Participants holding shares of
Restricted Stock granted hereunder may exercise full voting rights with respect to those shares.

     8.6 Dividends and Other Distributions. During the Period of Restriction, Participants holding
shares of Restricted Stock granted hereunder shall be entitled to receive all dividends and other
distributions paid with respect to those shares while they are so held. If any such

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dividends or distributions are paid in shares of Stock, the shares shall be subject to the
same restrictions on transferability as the shares of Restricted Stock with respect to which they
were paid.

     8.7 Nontransferability of Restricted Stock. Except as provided in Section 8.8 hereof, no
shares of Restricted Stock granted hereunder may be sold, transferred, pledged, assigned or
otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution,
until the termination of the applicable Period of Restriction. All rights with respect to the
Restricted Stock granted to a Participant hereunder shall be exercisable during his lifetime only
by such Participant.

     8.8 Election to Sell Shares to the Company. A Participant, or in the case of his death his
beneficiary or estate, may elect to sell to the Company up to one-half of the shares of Restricted
Stock issued to him pursuant to this Plan and upon which any restrictions set forth in the
Restricted Stock Agreement have lapsed. To the extent permitted by law, the Company shall purchase
all such shares of Restricted Stock. Each such sale must occur within sixty (60) days after the
last day of the Period of Restriction for such shares of Restricted Stock and shall be for a price
equal to the Fair Market Value determined as of the last business day of the Period of Restriction
of the shares of Restricted Stock to be sold. Such price shall be payable in cash or by check in
one lump sum payment, unless provisions relating to payment for such shares of Restricted Stock in
installments are agreed to by the Committee and the Participant (or his beneficiary or estate).

Section 9 Restricted Stock Units.

     9.1 Grant of Restricted Stock Units. Subject to the provisions of Sections 5 and 6 hereof,
the Committee, at any time and from time to time, may grant Restricted Stock Units to such
Participants and in such amounts as it shall determine. An Award of Restricted Stock Units shall
entitle the Participant to receive shares of Stock at such future time and upon such terms and
conditions as specified by the Committee in the agreement evidencing such Award (the “Restricted
Stock Unit Agreement”).

     9.2 Other Restrictions. The Committee shall, in the terms and conditions of the Restricted
Stock Unit Agreement, impose such restrictions on any Restricted Stock Units granted pursuant to
this Plan as it may deem advisable (including, without limitation, restrictions under applicable
Federal or state securities laws).

     9.3 Voting, Dividend & Other Rights. Participants granted Restricted Stock Units shall not be
entitled to vote or to receive dividends until they become owners of the shares of Stock pursuant
to their Restricted Stock Unit Agreements.

     9.4 Forfeiture. Except as otherwise determined by the Committee, upon termination of
employment of a Participant due to death, disability, or for any other reason, during the
applicable Period of Restriction, all Restricted Stock Units still subject to restriction under the
terms of the Restricted Stock Unit Agreement shall be immediately and automatically forfeited to
the Company.

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     9.5 Nontransferability of Restricted Stock Units. Except as otherwise provided in a
Participant’s Restricted Stock Unit Agreement, no Restricted Stock Units granted hereunder may be
sold, transferred, pledged, assigned or otherwise alienated or hypothecated, other than by will or
by the laws of descent and distribution, until the termination of the applicable Period of
Restriction.

Section 10 Beneficiary Designation.

     Each Participant may, from time to time, name any beneficiary or beneficiaries (who may be
named contingently or successively) to whom any benefit hereunder is to be paid in case of his
death before he receives any or all of such benefit. Each designation will revoke all prior
designations by the same Participant, shall be in a form prescribed by the Committee and will be
effective only when filed by the Participant in writing with the Committee during his lifetime. In
the absence of any such designation, benefits remaining unpaid at the Participant’s death shall be
paid to his estate.

Section 11 Rights of Employees.

     Nothing in this Plan shall interfere with or limit in any way the right of the Company to
terminate any Participant’s employment at any time nor confer upon any Participant any right to
continue in the employment of the Company.

Section 12 Change of Control.

     12.1 In the event of a “Change of Control” (as hereinafter defined):

	 	(a)	 	each holder of an Option (i) shall have the right at any time
thereafter to exercise the Option in full whether or not the Option was
previously exercisable; and (ii) shall have the right, exercisable by written
notice to the Company within sixty (60) days after the Change of Control, to
receive, in exchange for the surrender of an Option or any portion thereof to
the extent the Option is then exercisable in accordance with clause (i), the
highest of (1) an amount of cash equal to the difference between the Fair
Market Value of the Stock covered by the Option or portion thereof that is so
surrendered on the date of the Change of Control and the Exercise Price; (2) an
amount of cash equal to the difference between the highest price per share of
Stock paid in the transaction giving rise to the Change of Control and the
Exercise Price multiplied by the number of shares of Stock covered by the
Option; or (3) an amount of cash equal to the difference between the Fair
Market Value of the Stock covered by the Option or portion thereof that is so
surrendered, calculated on the date of surrender, and the Exercise Price;
provided that the right described in this clause (ii) shall be exercisable only
if a positive amount would be payable to the holder pursuant to the formula
specified in this clause (ii);
	 
	 	(b)	 	Restricted Stock that is not then vested shall vest upon the
date of the Change of Control and each holder of such Restricted Stock shall
have the right, exercisable by written notice to the Company within sixty (60)
days

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	 	 	 	after the Change of Control, to receive, in exchange for the surrender of
such Restricted Stock, an amount of cash equal to the highest of (i) the
Fair Market Value of such Restricted Stock on the date of surrender; (ii)
the highest price per share of Stock paid in the transaction giving rise to
the Change of Control multiplied by the number of shares of Restricted Stock
surrendered; or (iii) the Fair Market Value of such Restricted Stock on the
effective date of the Change of Control; and

	 	(c)	 	Restricted Stock Units that are not then vested shall vest upon
the date of the Change of Control and each holder of such Restricted Stock
Units shall have the right, exercisable by written notice to the Company within
sixty (60) days after the Change of Control, to receive, in exchange for the
surrender of the shares of Stock subject to the Restricted Stock Units, an
amount of cash equal to the highest of (i) the Fair Market Value of the Stock
covered by the Restricted Stock Units on the date of surrender; (ii) the
highest price per share of Stock paid in the transaction giving rise to the
Change of Control multiplied by the number of shares of Stock covered by the
Restricted Stock Units surrendered; or (iii) the Fair Market Value of the Stock
covered by the Restricted Stock Units on the effective date of the Change of
Control.

     12.2 A “Change of Control” of the Company means:

	 	(a)	 	the acquisition by any individual, entity or group (within the
meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a “Person”) of
beneficial ownership (within the meaning of Rule 13d-3 promulgated under the
Exchange Act) of 20% or more of either (i) the then outstanding shares of
common stock of the Company (the “Outstanding Company Common Stock”) or (ii)
the combined voting power of the then outstanding voting securities of the
Company entitled to vote generally in the election of directors (the
“Outstanding Company Voting Securities”); provided, however, that for purposes
of this subsection (a), the following acquisitions shall not constitute a
Change of Control: (1) any acquisition directly from the Company, (2) any
acquisition by the Company, (3) any acquisition by any employee benefit plan
(or related trust) sponsored or maintained by the Company or any corporation
controlled by the Company or (4) any acquisition pursuant to a transaction
which complies with clauses (i), (ii) and (iii) of subsection (c) of this
Section; or
	 
	 	(b)	 	individuals who, as of September 10, 1998, constitute the Board
(the “Incumbent Board”) cease for any reason to constitute at least a majority
of the Board; provided, however, that any individual becoming a director
subsequent to September 10, 1998 whose election, or nomination for election by
the Company’s shareholders, was approved by a vote of at least a majority of
the directors then comprising the Incumbent Board shall be considered as though
such individual were a member of the Incumbent Board, but excluding, for this
purpose, any such individual

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	 	 	 	whose initial assumption of office occurs as a result of an actual or
threatened election contest with respect to the election or removal of
directors or other actual or threatened solicitation of proxies or consents
by or on behalf of a Person other than the Board; or
	 
	 	(c)	 	consummation by the Company of a reorganization, merger or
consolidation or sale or other disposition of all or substantially all of the
assets of the Company or the acquisition of assets of another entity (a
“Business Combination”), in each case, unless, following such Business
Combination, (i) all or substantially all of the individuals and entities who
were the beneficial owners, respectively, of the Outstanding Company Common
Stock and Outstanding Company Voting Securities immediately prior to such
business combination beneficially own, directly or indirectly, more than 50%
of, respectively, the then outstanding shares of common stock and the combined
voting power of the then outstanding voting securities entitled to vote
generally in the election of directors, as the case may be, of the corporation
resulting from such Business Combination (including, without limitation, a
corporation which as a result of such transaction owns the Company or all or
substantially all of the Company’s assets either directly or through one or
more subsidiaries) in substantially the same proportions as their ownership
immediately prior to such Business Combination of the Outstanding Company
Common Stock and Outstanding Company Voting Securities, as the case may be,
(ii) no Person (excluding any employee benefit plan (or related trust) of the
Company or of such corporation resulting from such Business Combination)
beneficially owns, directly or indirectly, 20% or more of, respectively, the
then outstanding shares of common stock of the corporation resulting from such
Business Combination or the combined voting power of the then outstanding
voting securities of such corporation except to the extent that such ownership
existed prior to the Business Combination and (iii) at least a majority of the
members of the board of directors of the corporation resulting from such
Business Combination were members of the Incumbent Board at the time of the
execution of the initial agreement, or the action of the Board, providing for
such Business Combination; or
	 
	 	(d)	 	approval by the shareholders of the Company of a complete
liquidation or dissolution of the Company.

Section 13 Amendment, Modification and Termination of Plan.

     13.1 Amendments and Termination. The Board may at any time amend, alter, suspend, discontinue
or terminate this Plan; provided, however, that stockholder approval of any amendment of this Plan
shall be obtained if otherwise required by (a) the Code or any rules promulgated thereunder
(including in order to allow for incentive stock options to be granted hereunder or to enable the
Company to comply with the provisions of Section 162(m) of the Code so that the Company can deduct
compensation in excess of the limitation set forth therein),

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or (b) the listing requirements of the principal securities exchange or market on which the
Stock is then traded (including in order to maintain the listing or quotation of the Stock
thereon). An amendment or termination of this Plan shall not adversely affect the rights of
Participants with respect to Awards previously granted to them, and all unexpired Awards shall
continue in force and effect after termination of this Plan except as they may lapse or be
terminated by their own terms and conditions.

     13.2 Waiver of Conditions. The Committee may, in whole or in part, waive any conditions or
other restrictions with respect to any Award granted hereunder.

Section 14 Taxes.

     The Company shall be entitled to withhold the amount of any tax attributable to any amount
payable or shares of Stock deliverable under this Plan after giving the person entitled to receive
such amount or shares of Stock notice as far in advance as practicable, and the Company may defer
making any such payment or delivery if any such tax may be pending unless and until indemnified to
its satisfaction. A Participant may by written election, elect to pay all or a portion of the
federal, state and local withholding taxes arising in connection with (a) the exercise of a
nonstatutory stock option; (b) a disqualifying disposition of Stock received upon the exercise of
an incentive stock option; (c) the lapse of restrictions on an Award, by electing to (i) have the
Company withhold shares of Stock, (ii) tender back shares of Stock received in connection with such
benefit, or (iii) deliver other previously owned shares of Stock, having a Fair Market Value equal
to the amount to be withheld; provided, however, that the amount to be withheld shall not exceed
the Company’s minimum statutory federal, state and local tax withholding obligations associated
with the transaction. The written election must be made on or before the date as of which the
amount of tax to be withheld is determined. The Fair Market Value of fractional shares of Stock
remaining after payment of the withholding taxes shall be paid to the Participant in cash.

Section 15 Indemnification.

     Each person who is or shall have been a member of the Committee or of the Board shall be
indemnified and held harmless by the Company against and from any loss, cost, liability or expense
that may be imposed upon or reasonably incurred by him in connection with or resulting from any
claim, action, suit or proceeding to which he may be a party or in which he may be involved by
reason of any action taken or failure to act under this Plan and against and from any and all
amounts paid by him in settlement thereof, with the Company’s approval, or paid by him in
satisfaction of any judgment in any such action, suit or proceeding against him, provided he shall
give the Company an opportunity, at its own expense, to handle and defend the same before he
undertakes to handle and defend it on his own behalf. The foregoing right of indemnification shall
not be exclusive of any other rights of indemnification to which such persons may be entitled under
the Company’s Articles of Incorporation or Bylaws, as a matter of law, or otherwise, or any power
that the Company may have to indemnify them or hold them harmless.

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Section 16 Miscellaneous.

     Any Award may also be subject to other provisions (whether or not applicable to any Award made
to any other Participant) as the Committee determines appropriate, including, without limitation,
provisions for:

	 	(a)	 	restrictions on resale or other disposition of financed shares;
and
	 
	 	(b)	 	compliance with federal or state securities laws and stock
exchange or market requirements.

Section 17 Requirements of Law.

     17.1 Requirements of Law. The Plan, the granting and exercising of Awards thereunder, and the
other obligations of the Company under the Plan, shall be subject to all applicable foreign,
Federal and State laws, rules, and regulations, and to such approvals by any regulatory or
governmental agency as may be required, and to any rules or regulations of any exchange on which
the Stock is listed. The Company, in its discretion, may postpone the granting and exercising of
Awards, the issuance or delivery of Stock under any Award or any other action permitted under the
Plan to permit the Company, with reasonable diligence, to complete such stock exchange listing or
registration or qualification of such Stock or other required action under any foreign, Federal or
State law, rule, or regulation and may require any Participant to make such representations and
furnish such information as it may consider appropriate in connection with the issuance or delivery
of Stock in compliance with applicable laws, rules, and regulations. The Company shall not be
obligated by virtue of any provision of the Plan to recognize the exercise of any Award or to
otherwise sell or issue Stock in violation of any such laws, rules, or regulations; and any
postponement of the exercise or settlement of any Award under this provision shall not extend the
term of such Awards, and neither the Company nor its directors or officers shall have any
obligation or liability to the Participant with respect to any Award (or Stock issuable thereunder)
that shall lapse because of such postponement.

     17.2 Governing Law. This Plan, and all agreements hereunder, shall be construed in accordance
with and governed by the internal laws of the State of Wisconsin.

Section 18 No Limitation on Compensation; No Impact on Benefits.

     Nothing in the Plan shall be construed to limit the right of the Company to establish other
plans or to pay compensation to its employees, in cash or property, in a manner that is not
expressly authorized under the Plan. Except as may otherwise be specifically stated under any
employee benefit plan, policy or program, no amount payable in respect of any Award shall be
treated as compensation for purposes of calculating a Participant’s right under any such plan,
policy or program. No person shall have a right to be selected as a Participant, or, having been so
selected, to receive any future Awards.

13

 

Section 19 No Constraint on Corporate Action.

     Nothing in this Plan shall be construed (a) to limit, impair or otherwise affect the Company’s
right or power to make adjustments, reclassifications, reorganizations or changes of its capital or
business structure, or to merge or consolidate, or dissolve, liquidate, sell, or transfer all or
any part of its business or assets or (b) to limit the right or power of the Company, or any of its
affiliates to take any action which such entity deems to be necessary or appropriate.

Section 20 Stockholder Rights.

     A Participant shall have no rights as a stockholder with respect to any shares of Stock
covered by an Award until he or she shall have become the holder of record of such share(s), and no
adjustments shall be made for dividends in cash or other property or distribution or other rights
in respect to any such shares, except as otherwise specifically provided for in this Plan.

Section 21 Blue-Pencil.

     If any provision of this Plan is or becomes or is deemed invalid, illegal or unenforceable in
any jurisdiction, or would disqualify the Plan or any Award under any law deemed applicable by the
Committee, such provision shall be construed or deemed amended to conform to applicable laws or if
it cannot be construed or deemed amended without, in the determination of the Committee, materially
altering the intent of the Plan, it shall be stricken and the remainder of the Plan shall remain in
full force and effect.

Section 22 Unfunded Plan.

     This Plan is an unfunded Plan and participants in the Plan shall have the status of unsecured
creditors of the Company with respect to the Plan.

Section 23 Headings and Captions.

     The headings and captions herein are provided for reference and convenience only, shall not be
considered part of this Plan, and shall not be employed in the construction of this Plan.

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