Document:

EX-10.1.(d)

 Exhibit 10.1(d) 

 
 

 
 JOHNSON CONTROLS, INC. 
 OPTION OR STOCK APPRECIATION RIGHT AWARD 
 Grant - Terms for
Nonqualified Stock Options and Stock Appreciation Rights 
 Johnson Controls, Inc. has adopted the 2012 Omnibus Incentive Plan to permit
awards of stock options or stock appreciation rights to be made to certain key employees of the Company or any Affiliate. The Company desires to provide incentives and potential rewards for future performance by the employee by providing the
Participant with a means to acquire or to increase his/her proprietary interest in the Company’s success. 
 Definitions.
Capitalized terms used in this Award have the following meanings: 
  

	(a)	“Award” means this grant of Options and/or Stock Appreciation Rights. 

	(b)	“Award Notice” means the Award notification delivered to the Participant. 

	(c)	“Company” means Johnson Controls, Inc., a Wisconsin corporation, or any successor thereto. 

	(d)	“Fair Market Value” means, per Share on a particular date, the closing sales price on such date on the New York Stock Exchange, or if no sales of Stock occur
on the date in question, on the last preceding date on which there was a sale on such market. 

	(e)	“Grant Date” is the date the Award was made to the Participant, as specified in the Award Notice. 

	(f)	“Inimical Conduct” means any act or omission that is inimical to the best interests of the Company or any Affiliate as determined by the Administrator in its
sole discretion, including but not limited to: (i) violation of any employment, noncompete, confidentiality or other agreement in effect with the Company or any Affiliate, (ii) taking any steps or doing anything which would damage or
negatively reflect on the reputation of the Company or an Affiliate, or (iii) failure to comply with applicable laws relating to trade secrets, confidential information or unfair competition. 

	(g)	“Option” means this nonqualified stock option representing the right to purchase Shares at a stated price for a specified period of time.

	(h)	“Participant” means an individual selected to receive this Award. 

	(i)	“Plan” means the Johnson Controls, Inc. 2012 Omnibus Incentive Plan, as may be amended from time to time. 

	(j)	“Retirement” means
                                . 

	(k)	“SAR” is an Award of Stock Appreciation Rights which will be settled in cash. The Participant will receive the economic equivalent of the excess of the Fair
Market Value on the exercise date over the Exercise Price. 

	(l)	“Share” means a share of Stock. 

	(m)	“Stock” means the Common Stock of the Company. 

	(n)	“Tax Date” means the date income is recognized pursuant to the exercise of the Option or SAR. 

Other capitalized terms used in this Award have the meanings given in the Plan. 
 The parties agree as follows: 
 1.     Grant of
Award. Subject to the terms and conditions of the Plan, a copy of which has been made available to the Participant and made a part of this Award, and to the terms and conditions of this Award, the Company grants to the Participant an
Award of Options or an Award of Stock Appreciation Rights, as specified in the Award Notice. 
 2.     Exercise
Price. The purchase price payable upon exercise of the Options or used to determine the value of the SARs shall be the Exercise Price per share stated in the Award Notice. 

 3.     Exercise of Vested Portion of Award. The Award may be exercised by the
Participant, in whole or in part, in increments of not less than 50 shares or the number of shares remaining subject to the Award (if less than 50), from time to time, to the extent the Award is vested and prior to the Expiration Date stated in the
Award Notice. The vesting schedule of the Award is as follows: 
  

	 	(a)	Fifty Percent (50%) of the Award shall vest on the second anniversary of the Grant Date. 

	 	(b)	Fifty Percent (50%) of the Award shall vest on the third anniversary of the Grant Date. 

 The Award shall expire ten years from the Grant Date. 
 4.     Exercise
Procedure. The Award may only be exercised through the Company’s Option/SAR execution service provider following the procedures established by the Administrator. 
 5.      (a) Conditions to Issuance or Payment. Before the Company will become obligated to issue or transfer shares of Stock or pay cash upon exercise of the Option or
SAR, the Company may require the Participant to pay to the Company or its Affiliates such amount as may be requested by the Company or its Affiliates for the purpose of satisfying its liability to withhold federal, state or local income or other
taxes incurred by reason of the exercise of the Award. If the amount requested is not paid, the Company may refuse to issue or transfer shares of Stock or pay cash, as applicable, upon exercise of the Award. 

(b) Share Withholding or Delivery. The Participant shall be permitted to satisfy the Company’s withholding tax requirements
with respect to the Option by electing to have the Company withhold shares of Stock otherwise issuable to the Participant or to deliver to the Company shares of Stock having a Fair Market Value on the Tax Date equal to the minimum amount required to
be withheld by law. Such election shall be irrevocable, and shall be subject to disapproval, in whole or in part, by the Company. Such election shall be made according to such rules and regulations and in such form as the Company shall determine.

 (c) Other Withholding. Notwithstanding anything to the contrary in this Award, if the Company or any Affiliate is
required to withhold any foreign, Federal, state or local taxes or other amounts in connection with the Award, then the Company may deduct (or require an Affiliate to deduct) such taxes or other amounts from any payments of any kind otherwise due
the Participant to satisfy such tax obligations. 
 6.      (a) Termination - General. In the event a
Participant’s employment with the Company or any of its Affiliates is terminated for any reason, except Retirement, death, Disability or Cause, a Participant may exercise this Award (to the extent vested and exercisable as of the date of the
Participant’s termination of employment) for a period of ninety (90) days after the date of the Participant’s termination of employment, but not later than the Award’s expiration date. Thereafter, all rights to exercise the Award
shall terminate. 
 (b) Termination for Retirement. If the Participant ceases to be an employee of the Company or any
Affiliate by reason of Retirement at a time when the Participant’s employment could not have been terminated for Cause, then the Award (i) shall be exercisable in full without regard to any vesting requirements; provided that an Option of
a Participant who Retires shall be exercisable in full only if the Participant Retires on or after the last day of the fiscal year in which such Option was granted, unless the Administrator determines otherwise, and (ii) will remain exercisable
until the Award’s expiration date. 
 (c) Termination for Disability. If the Participant ceases to be an employee of
the Company or any Affiliate by reason of Disability at a time when the Participant could not be terminated for Cause, then the Award shall be exercisable in full without regard to any vesting requirements, and may be exercised by the Participant at
any time within five (5) years after the date of such termination, but not later than the Award’s expiration date. 

  

			
	Terms for SAR-Stock Options — 2012 Plan	 	Page 2 of 5

 (d) Death. In the event of the Participant’s death while actively employed by
the Company or any Affiliate and at a time when the Participant could not be terminated for Cause, the Award shall be exercisable immediately to the extent it would have been exercisable had the Participant remained in service in the twelve
(12) months after the date of death, and may be exercised at any time until the first anniversary of the date of the Participant’s death, but not later than the Award’s expiration date. The Award may be exercised by the person to whom
the Award is transferred by will or by applicable laws of the descent and distribution. In the event of the death of a Retired Participant or a Participant who ceased to be an employee by reason of Disability, the Award may be exercised by the
person to whom the Option is transferred, by will or by applicable laws of descent and distribution, as if the Participant had remained living under Sections 6(b) or (c), as applicable. 

(e) Termination for Cause. If the Participant’s employment with the Company or any of its Affiliates is terminated for Cause,
then such termination shall cause the immediate cancellation and forfeiture of any Award, regardless of vesting; and any pending exercises shall be cancelled on the date of termination. 
 7.     Inimical Conduct. If the Administrator determines at any time that a Participant has engaged in Inimical Conduct, whether before or after termination of employment, the
Award shall be cancelled, regardless of vesting; and any pending exercises shall be cancelled on that date. In addition, the Administrator or the Company may suspend any exercise of the Option pending the determination of whether the Participant has
engaged in Inimical Conduct. 
 8.     Rights as Shareholder. The Participant shall not be deemed for any purposes to
be a shareholder of the Company with respect to any shares which may be acquired hereunder except to the extent that the Option shall have been exercised with respect thereto and shares of Stock issued therefor. 

9.     No Reinstatement of Award. After this Award or any portion thereof expires, is cancelled or otherwise terminates for
any reason, the Award or such portion shall not be reinstated, extended or otherwise continued. 
 10.   Transferability. This
Award shall not be transferable (without the Administrator’s consent) other than by will or the laws of descent and distribution. Following any permitted transfer, the Award shall continue to be subject to the same terms and conditions as were
applicable immediately prior to the transfer, provided that the Award may be exercised during the life of the Participant only by the Participant or, if applicable, by the Participant’s permitted transferees. 

11.   Securities Compliance. The Participant agrees for himself/herself and the Participant’s heirs, legatees, and legal
representatives, with respect to all shares of Stock acquired pursuant to this Award (or any shares of Stock issued pursuant to a stock dividend or stock split thereon or any securities issued in lieu of or in substitution or exchange for such
Stock) that the Participant and the Participant’s heirs, legatees, and legal representatives will not sell or otherwise dispose of such shares except pursuant to an effective registration statement under the Securities Act of 1933, as amended,
or except in a transaction which, in the opinion of counsel for the Company, is exempt from registration under such act. 
 12.
  No Restrictions on Certain Actions. The existence of the Award 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 Stock or the rights thereof,
or dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 

13.   Award Not Part of Normal Compensation. Neither the Award nor any benefit accruing to the Participant from the Award will be
considered to be part of the Participant’s normal or expected 

  

			
	Terms for SAR-Stock Options — 2012 Plan	 	Page 3 of 5

 
compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service
awards, pension or retirement or welfare benefits or similar payments. In no event may the Award or any benefit accruing to the Participant from the Award be considered as compensation for, or relating in any way to, past services for the Company or
any Affiliate. In consideration of the Award, no claim or entitlement to compensation or damages shall arise from forfeiture of the Award resulting from termination of the Participant’s employment by the Company or any Affiliate (for any reason
whatsoever and whether or not in breach of local labor laws) and the Participant irrevocably releases the Company and its Affiliates from any such claim that may arise. If, notwithstanding the foregoing, any such claim is found by a court of
competent jurisdiction to have arisen, then, by accepting the grant, the Participant shall have been deemed irrevocably to have waived any entitlement to pursue such claim. 
 14.   Electronic Communications. The Company or its Affiliates may, in its or their sole discretion, decide to deliver any documents related to current or future participation in the Plan
or related to this Award by electronic means. The Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or
a third party designated by the Company. The Participant hereby agrees that all on-line acknowledgements shall have the same force and effect as a written signature. 
 15.   Dispute Resolution. As a condition of the granting of the Award, the Participant agrees for himself/herself and his/her legal representatives, that any dispute or disagreement which
may arise under or as a result of or pursuant to this Award shall be governed by the internal laws of the State of Wisconsin (without reference to conflict of law principles thereof) and construed in accordance therewith, to the extent not otherwise
governed by the laws of the United States or as otherwise provided hereinafter, and settled by final binding arbitration in accordance with the rules of the American Arbitration Association and the provisions of the Plan. 

16.   Change of Control. Notwithstanding the provisions of Section 3 of this Award, in the event of a Change of Control, if the
Participant has in effect an employment, retention, change of control, severance or similar agreement with the Company or any Affiliate that discusses the effect of a Change of Control on the vesting of such Participant’s Awards, then such
agreement shall control the vesting of this Award upon the occurrence of a Change of Control. In all other cases, upon a Change of Control, the provisions of Section 18(c) of the Plan will apply. 

17.   Data Privacy and Sharing As a condition of the granting of the Award, the Participant acknowledges and agrees that it is necessary
for some of the Participant’s personal identifiable information to be provided to certain employees of the Company and the Company’s Option/SAR execution service provider and the Company’s designated third party broker in the United
States. These transfers will be made pursuant to a contract that requires the service provider to provide adequate levels of protection for data privacy and security interests in accordance with the EU Data Privacy Directive 95/46 EC and the
implementing legislation of the Participant’s home country. By accepting the Award, the Participant acknowledges having been informed of the processing of the Participant’s personal identifiable information described in the preceding
paragraph and consents to the Company collecting and transferring to the Company’s Shareholder Services Department, and its independent service provider and third party broker, the Participant’s personal data that are necessary to
administer the Award and the Plan. The Participant understands that his or her personal information may be transferred, processed and stored outside of the Participant’s home country in a country that may not have the same data protection laws
as his or her home country, for the purposes mentioned in this Award. 
 This Award, the Award Notice and any other documents expressly
referenced in this Award contain all of the provisions applicable to the Award and no other statements, documents or practices may modify, waive or alter such provisions unless expressly set forth in writing, signed by an authorized officer of the
Company and delivered to the Participant. 

  

			
	Terms for SAR-Stock Options — 2012 Plan	 	Page 4 of 5

 The Company has caused this Award to be executed by one of its authorized officers as of the Grant Date.

 JOHNSON CONTROLS, INC. 

 
 

 
 Jerome D. Okarma 

Vice President, Secretary and General Counsel 

  

			
	Terms for SAR-Stock Options — 2012 Plan	 	Page 5 of 5Form of Non-Qualified Stock Option Agreement

 Exhibit 10.1 
 H.B. FULLER COMPANY 
 NON-QUALIFIED STOCK OPTION AGREEMENT 

(Under the Amended and Restated 
 H.B. Fuller Company Year 2000 Stock Incentive Plan) 
 THIS AGREEMENT, dated
as of             , 20     is entered into between H.B. Fuller Company, a Minnesota corporation (the “Company”), and
                    , an officer or other employee of the Company or an Affiliate of the Company (“Participant”). 

The Company, pursuant to the Amended and Restated H.B. Fuller Company Year 2000 Stock Incentive Plan (the “Plan”), wishes to
grant stock options for the purchase of Common Stock, par value $1.00 per share, of the Company (“Common Stock”), to Participant on the terms and conditions contained in this Agreement and the Plan. 

Capitalized terms used herein and not otherwise defined shall have the meaning given such terms in the Plan. 

Accordingly, in consideration of the premises and agreements set forth herein, the parties hereto hereby agree as follows: 

1. Grant of Option. 
 The Company, effective as of the date of this Agreement, hereby grants to Participant, as a matter of separate agreement and not in lieu of salary or other compensation for services rendered, the right
and option (the “Option”) to purchase all or any part of an aggregate of              shares of Common Stock (the “Shares”) at the price of
$         per share on the terms and conditions set forth in this Agreement. The Option is not intended to be an incentive stock option within the meaning of the Internal Revenue Code of 1986, as amended.

 2. Vesting and Term of Option. 
 (a) The Option may not be exercised prior to                     , 20    .
Commencing on                     , 20    , the Option may be exercised by Participant prior to its termination in cumulative
annual installments as follows: 
  

					
	 Date
	  	Percentage of Shares as to
which Option is Exercisable	 
	             ,
20    
	  	 	    	% 
	             ,
20    
	  	 	    	% 
	             ,
20    
	  	 	    	% 
	             ,
20    
	  	 	    	% 
	             ,
20    
	  	 	    	% 

 The Option shall in all events terminate on
            , 20     or such earlier date as prescribed herein. 
 (b) Notwithstanding the vesting provision contained in Section 2(a) above, but subject to the other terms and conditions set forth herein, the Option may be exercised, in whole or in part, at any
time, or from time to time, following the occurrence of a Change in Control of the Company. 
 (c) For the purposes of this
Agreement, a “Change in Control” shall be deemed to have occurred upon any of the following events: 

(i) a public announcement (which, for purposes hereof, shall include, without limitation, a report filed pursuant to
Section 13(d) of the Exchange Act) that any individual, corporation, partnership, association, trust or other entity becomes the beneficial owner (as defined in Rule 13(d)(3) promulgated under the Exchange Act), directly or indirectly, of
securities of the Company representing 30% or more of the Voting Power of the Company then outstanding; 
 (ii)
the individuals who, as of the date of this Agreement, are members of the Board of Directors of the Company (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board (provided, however, that if the
election or nomination for election by the Company’s shareholders of any new director was approved by a vote of at least a majority of the Incumbent Board, such new director shall be considered to be a member of the Incumbent Board);

 (iii) the approval of the shareholders of the Company, and consummation, of (A) any consolidation, merger
or statutory share exchange of the Company with any person in which the surviving entity would not have as its directors at least 60% of the Incumbent Board and as a result of which those persons who were shareholders of the Company immediately
prior to such transaction would not hold, immediately after such transaction, at least 60% of the Voting Power of the Company then outstanding or the combined voting power of the surviving entity’s then outstanding voting securities;
(B) any sale, lease, exchange or other transfer in one transaction or series of related transactions substantially all of the assets of the Company; or (C) the adoption of any plan or proposal for the complete or partial liquidation or
dissolution of the Company; or 
 (iv) a determination by a majority of the members of the Incumbent Board, in
their sole and absolute discretion, that there has been a Change in Control of the Company. 
 For purposes of this Section 2(c),
“Voting Power” when used with reference to the Company shall mean the voting power of all classes and series of capital stock of the Company now or hereafter authorized. 

  
 2 

 3. Effect of Termination of Employment. 

The Option shall terminate and may no longer be exercised if Participant ceases to be employed by the Company or an Affiliate of the
Company, except that: 
 (a) If the Participant voluntarily terminates Participant’s employment or if the Company or an
Affiliate of the Company terminates Participant’s employment for any reason other than gross and willful misconduct, disability, retirement or death, Participant may exercise the Option at any time within ninety (90) days after such
termination of employment to the extent that the Option was exercisable by Participant on the date of such termination, but not after the expiration of the term of the Option. 
 (b) If the Company or an Affiliate of the Company terminates Participant’s employment by reason of gross and willful misconduct during the course of employment, including, but not limited to,
wrongful appropriation of funds or the commission of a gross misdemeanor or felony, the Option shall be terminated as of the date of the misconduct. 
 (c) If Participant’s employment is terminated by reason of disability or retirement, the restrictions on Participant’s ability to exercise any percentage of the Option as set forth in
Section 2(a), shall lapse and the Option shall vest in full. If Participant’s employment is terminated by reason of retirement, Participant may exercise the Option at any time prior to the end of the term of the Option, but not after the
expiration of the term of the Option. If Participant’s employment is terminated by reason of disability, Participant may exercise the Option at any time within three years after such termination of employment, but not after the expiration of
the term of the Option. If Participant shall die following any such termination, the Option may be exercised at any time within 12 months after the date of Participant’s death by the personal representatives or administrators of Participant or
by any beneficiary designated in a manner established by the Committee or person or persons to whom the Option has been transferred by will or the applicable laws of descent and distribution, subject to the condition that the Option shall not be
exercisable after the expiration of the term of the Option. 
 (d) If Participant shall die while in the employ of the Company
or an Affiliate of the Company, the restrictions on Participant’s (or his or her heirs’) ability to exercise any percentage of the Option as set forth in Section 2(a), shall lapse and the Option shall vest in full. The Option may be
exercised at any time within 12 months after the date of Participant’s death by the personal representatives or administrators of Participant or by any beneficiary designated in a manner established by the Committee or person or persons to whom
the Option has been transferred by will or the applicable laws of descent and distribution, subject to the condition that the Option shall not be exercisable after the expiration of the term of the Option. 

  
 -3-

 For purposes of this Section 3, “retirement” shall mean the voluntary or involuntary
termination of Participant’s employment for any reason other than gross and willful misconduct, disability or death, after the Participant has completed at least ten years of service as an employee of the Company and/or an Affiliate of the
Company and has attained age 55. 
 4. Method of Exercising Option. 

(a) Subject to the terms and conditions of this Agreement, the Option shall be exercised by the delivery of written notice of exercise
(the “Notice”) to the Company (to the attention of the Equity Compensation Specialist) or its agent. The Notice shall be in written form or such other form as the Company may prescribe and shall state the election to
exercise the Option, the number of Shares as to which the Option is being exercised and the manner of payment and shall be signed by the person or persons so exercising the Option. The notice shall be accompanied by payment in full of the exercise
price for all Shares designated in the notice The Notice shall also be accompanied by such other information and documents as the Company, in its discretion, may request. To the extent that the Option is exercised after Participant’s
death, the notice of exercise shall also be accompanied by appropriate proof of the right of such person or persons to exercise the Option. 
 (b) Payment of the exercise price shall be made to the Company through one or a combination of the following methods: 
  

	 	(i)	delivery of a certified or cashier’s check, or a wire transfer, payable to the Company or cash, in United States currency; 

 

	 	(ii)	delivery of shares of Common Stock acquired by Participant more than six months prior to the date of exercise having a Fair Market Value on the date of exercise equal
to the Option exercise price. Participant shall duly endorse all certificates delivered to the Company in blank and shall represent and warrant in writing that Participant is the owner of the shares so delivered, free and clear of all liens,
encumbrances, security interests and restrictions; 

  

	 	(iii)	if permitted by the Company in its sole discretion, by executing a “cashless exercise” through the Company’s designated broker; or

  
 -4-

	 	(iv)	delivery of an attestation from Participant that Participant owns a number of shares of Common Stock acquired by Participant more than six months prior to the date of
exercise having a Fair Market Value on the date of exercise equal to the Option exercise price (the “Exercise Price Shares”). In such attestation, Participant shall represent and warrant that Participant is the owner of the Exercise Price
Shares. In the event Participant exercises the Option in this manner, the number of shares of Common Stock issued to Participant upon exercise of the Option shall be (A) the number of shares subject to the Option exercise, less (B) the
number of Exercise Price Shares. 

 5. Income Tax Withholding. 

In order to provide the Company with the opportunity to claim the benefit of any income tax deduction which may be available to it upon
the exercise of the Option, and in order to comply with all applicable federal or state income tax laws or regulations, the Company may take such action as it deems appropriate to ensure that all applicable federal or state income, withholding,
social, payroll or other taxes, which are the sole and absolute responsibility of Participant, are withheld or collected from Participant. Participant may, at Participant’s election (the “Tax Election”), satisfy applicable tax
withholding obligations by (a) electing to have the Company withhold a portion of the Shares of Common Stock otherwise to be delivered upon exercise of the Option having a Fair Market Value equal to the amount of such taxes or
(b) delivering to the Company shares of Common Stock having a Fair Market Value equal to the amount of such taxes. The Tax Election must be made on or before the date that the amount of tax to be withheld is determined. 

6. Adjustments. 
 In the event that the Committee shall determine that any dividend or other distribution (whether in the form of cash, shares, other securities or other property), recapitalization, stock split, reverse
stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase or exchange of shares or other securities of the Company, issuance of warrants or other rights to purchase shares or other securities of the Company or
other similar corporate transaction or event affects the Shares covered by the Option such that an adjustment is determined by the Committee to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended
to be made available under this Agreement, then the Committee shall, in such manner as it may deem equitable, in its sole discretion, adjust any or all of the number and type of the Shares covered by the Option and the exercise price of the Option.

  
 -5-

 7. Securities Matters. 

No Shares shall be issued hereunder prior to such time as counsel to the Company shall have determined that the issuance of the Shares
will not violate any federal or state securities or other laws, rules or regulations. The Company shall not be required to deliver any Shares until the requirements of any federal or state securities or other laws, rules or regulations (including
the rules of any securities exchange) as may be determined by the Company to be applicable are satisfied. In addition, the grant of this Option and/or the delivery of any Shares under this Agreement are subject to the Company’s Executive and
Key Manager Compensation Clawback Policy and any other clawback policies the Company may adopt in the future to conform to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (or any other applicable law) and any applicable rules
and regulations of the Securities and Exchange Commission. 
 8. General Provisions. 

(a) Interpretations. This Agreement is subject in all respects to the terms of the Plan. Terms used herein which are defined in
the Plan shall have the respective meanings given to such terms in the Plan, unless otherwise defined herein. In the event that any provision of this Agreement is inconsistent with the terms of the Plan, the terms of the Plan shall govern. Any
question of administration or interpretation arising under this Agreement shall be determined by the Committee, and such determination shall be final, conclusive and binding upon all parties in interest. 

(b) No Rights as a Shareholder. Neither Participant nor Participant’s legal representatives shall have any of the rights and
privileges of a shareholder of the Company with respect to the Shares of Common Stock subject to the Option until such Shares shall have been issued upon exercise of the Option. 

(c) No Right to Employment. Nothing in this Agreement or the Plan shall be construed as giving Participant the right to be
retained as an employee of the Company or any Affiliate. In addition, the Company or an Affiliate may at any time dismiss Participant from employment, free from any liability or any claim under this Agreement, unless otherwise expressly provided in
this Agreement. 
 (d) Option Not Transferable. The Option shall not be transferable other than (i) by will or by
the laws of descent and distribution, or (ii) by designating a beneficiary or beneficiaries (in a manner established by the Committee) to exercise the rights of the Participant and receive any property distributable with respect to any Option
upon the death of the Participant. During Participant’s lifetime the Option shall be exercisable only by Participant or, if permissible under applicable law, by Participant’s guardian or legal representative. The Option may not be pledged,
alienated, attached or otherwise encumbered, and any purported pledge, alienation, attachment or encumbrance of the Option shall be void and unenforceable against the Company. 

  
 -6-

 (e) Reservation of Shares. The Company shall at all times during the term of the
Option reserve and keep available such number of shares of Common Stock as will be sufficient to satisfy the requirements of this Agreement. 
 (f) Headings. Headings are given to the sections and subsections of this Agreement solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant
to the construction or interpretation of this Agreement or any provision hereof. 
 (g) Governing Law. The internal law,
and not the law of conflicts, of the State of Minnesota will govern all questions concerning the validity, construction and effect of this Agreement. 
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement to be effective as of the date first set forth above. 

 

			
	H.B. FULLER COMPANY
		
	By:	 	 
	
	  

[employee]

		
	Date:  	 	 

  
 -7-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00211-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00211-of-00352.parquet"}]]