Document:

exv10w3

Exhibit
10.3

BROWN-FORMAN

2004 OMNIBUS COMPENSATION PLAN

RESTRICTED STOCK AWARD AGREEMENT

SUMMARY

	 	 	 

	Participant:

	 	[Name]
	Award Date:

	 	July XX, 20XX
	Performance Period

	 	May 1, 20XX through April 30, 20XX
	Share Calculation Date:

	 	As soon as practicable following the Performance Period
	Restriction Ending Date:

	 	April 30, 20XX
	Target Dollar Award:

	 	$[Value]
	Class of Shares:

	 	Brown-Forman Corporation Class A Common
	Award Date Price per 

Share:

	 	$[Value]

THIS AWARD, effective as of the Award Date set forth above, represents a grant of Class A Common
Restricted Stock by Brown-Forman Corporation, a Delaware corporation (the “Company”), under the
Company’s 2004 Omnibus Compensation Plan, as amended (the “Plan”) to the Company employee named
above (“Participant”). Capitalized terms not otherwise defined herein shall have the meanings
ascribed to them in the Plan.

1. Award. The Plan Administrator shall designate a Target Dollar Award amount for each
Participant within 90 days of the beginning of the Performance Period, and shall designate
Performance Measures for the Performance Period. In arriving at a Target Dollar Award, the Plan
Administrator has the right, but not the requirement, to solicit input from the Participant as to
the target dollars to be delivered as Restricted Stock. Shortly after the end of the Performance
Period, the Target Dollar Award will be adjusted for actual performance against the approved
Performance Measures, which shall never be less than one-half nor more than one-and-one-half times
the Target Dollar Award (the “Adjusted Dollars”), and the Adjusted Dollars will be converted into
shares of Class A Common Restricted Stock by dividing the Adjusted Dollars by the Award Date Price
per Share, rounding up to the next whole share (the “Initial Calculation of Restricted Shares”).
The number of shares of Restricted Stock issuable to the Participant under this Award shall then be
increased by a number of shares of Restricted Stock equivalent in value to the dividends that would
have been payable on the Initial Calculation of Restricted Shares in fiscal years two and three of
the Performance Period, calculated using the Award Date Price per Share, rounding up to the next
whole share. Restricted Stock shall be issued in the name of the Participant, legended with the
appropriate restriction, and held in escrow by the Company or its agent. Upon the vesting of the
Restricted Stock, and the satisfaction of applicable withholding requirements under IRC Section
10(C), the Company shall issue or cause to be delivered to the participant one or more unlegended
stock certificates in respect of such Restricted Stock.

2. Term; Vesting. The term of this Award is for a period of four years from the first day of the
Performance Period of the Award. The Participant must remain continuously employed by the Company
for a period of four fiscal years beginning with the fiscal year of the Award and extending through
the Restriction Ending Date in order to be considered vested in the Award, except as provided in
Section 3 below. Assuming continued employment, following the Restriction Ending Date the
restrictions will be removed and the unrestricted vested shares shall be delivered to the
Participant.

3. Termination of Employment. In the event the Participant does not remain continuously employed
by

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the Company until the Restriction Ending Date, the following rules will apply:

     3.1 Retirement. “Retirement” means termination of employment, with the consent of
the Company, on or after reaching age 55 with at least five (5) full years of service, or on or
after reaching age 65 with any service. If the Participant terminates employment by reason of
Retirement, the Performance Period and Share Calculation Date will remain unaffected; except that
the Participant will not be required to remain employed following his or her Retirement date in
order to receive the delivery of the shares hereunder; provided, however, that if the Participant
terminates employment by reason of Retirement during fiscal 2011, the Target Dollar Award of this
Award shall be prorated based upon the number of whole months worked during fiscal 2011 prior to
Retirement (out of a 12 month year), with any unearned portion of the Award being immediately
canceled and forfeited. Notwithstanding any other provision of this Award, the number of shares of
the Company’s Class A Common Stock represented by this Award which are to be delivered pursuant to
this Section 3.1 (with the number of shares to be delivered calculated under the applicable
provisions of this Award) shall be delivered to the Participant within sixty (60) days of the end
of the Performance Period (or if the Retirement date shall occur following the end of the
Performance Period, within sixty (60) days of the Retirement date), with the delivery date within
such period to be determined by the Company in its sole discretion.

     3.2 Death/Disability. If the Participant dies or terminates employment due to
Disability (“Disability” to be determined by the Plan Administrator in its sole discretion in
accordance with Section 2.19 of the Plan), the Award will be adjusted for performance at Target,
vest immediately, and the number of shares of the Company’s Class A Common Stock represented by
this Award shall be delivered to the Participant’s beneficiary(ies) within thirty (30) days of the
Participant’s death or termination of employment due to Disability, with the delivery date within
such period to be determined by the Company in its sole discretion. Provided, however, that if the
Participant dies or terminates employment due to Disability during fiscal 2011, the Target Dollar
Award of this Award shall be prorated based upon the number of whole months worked during fiscal
2011 prior to death/termination due to Disability (out of a 12 month year), with any unearned
portion being immediately canceled and forfeited.

     3.3 Voluntary Termination, Involuntary Termination for Cause, Involuntary Termination for
Poor Performance. The full amount of the Award shall be immediately forfeited to the Company,
without compensation to the Participant, in the event of the Participant’s voluntary termination,
involuntary termination for Cause (as such term is defined in the Plan), or involuntary termination
for Poor Performance (as determined by the Plan Administrator in its sole discretion) prior to the
Restriction Ending Date.

     3.4. Involuntary Termination – “No Fault”. If the Participant’s employment is
involuntarily terminated with “no fault” on the part of the Participant (as determined by the Plan
Administrator in its sole discretion), the Performance Period and Share Calculation Date will
remain unaffected; except that the Participant will not be required to remain employed following
his or her “no fault” termination in order to receive the delivery of the shares hereunder;
provided, however, that if the Participant’s employment is involuntarily terminated with “no fault”
on the part of the Participant during fiscal 2011, the Target Dollar Award of this Award shall be
prorated based upon the number of months worked during fiscal 2011 prior to termination (out of a
12 month year), with any unearned portion being immediately canceled and forfeited.
Notwithstanding any other provision of this Award, the number of shares of the Company’s Class A
Common Stock represented by this Award which are to be delivered pursuant to this Section 3.4 (with
the number of shares to be delivered calculated under the applicable provisions of this Award)
shall be delivered to the Participant within sixty (60) days of the end of the Performance Period
(or if the “no fault” termination date shall occur following the end of the Performance Period,
within sixty (60) days of the “no fault” termination date), with the delivery date within such
period to be determined by the Company in its sole discretion.

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     3.5 Termination for any Other Reasons. Unless otherwise determined by the Plan
Administrator, in its sole discretion, if the Participant’s employment terminates for any reason
other than those set out in items 3.1, 3.2, 3.3 or 3.4 above or item 4 below prior to the
Restriction Ending Date, the full amount of the Award shall be immediately forfeited to the
Company, without compensation to the Participant. Notwithstanding the foregoing, if the Plan
Administrator determines to accelerate the Restriction Ending Date for any Award upon the
Participant’s termination of employment, the payment date will be a date within sixty (60) days
following the Participant’s termination of employment, with the payment date within such period to
be determined by the Company in its sole discretion.

4. Change in Control. Upon the occurrence of a Change in Control, as defined in the Plan, Awards
shall be treated in accordance with Article 11 of the Plan. Provided however, that in the event a
termination without Cause or by Constructive Discharge (with the circumstances constituting a
Constructive Discharge to be determined by the Plan Administrator in its discretion at or prior to
a Change of Control) following a Change of Control occurs during fiscal 2011, the Target Value
Dollar Award of this Award shall be prorated based upon the number of whole months worked during
fiscal 2011 prior to termination (out of a 12 month year), with any unearned portion being
immediately canceled and forfeited.

5. Rights as a Stockholder. During the Performance Period prior to the issuance of Restricted
Stock, the Participant has no rights as a stockholder (including, but not limited to, the right to
receive regular quarterly dividends or dividend equivalents). However, following the issuance of
Restricted Stock after the end of the Performance Period, the Participant will have the same
stockholder rights as other holders of Class A Common stock except that vesting and the right to
sell the shares is restricted as provided herein. Dividends (or dividend equivalents) are payable
to the Participant following the issue of Restricted Stock during the restriction period, unless
the payment of such dividends creates issues (as determined by the Plan Administrator) under any
IRS or SEC regulations including IRC Section 162(m), in which case they will be accrued and paid
out at the time the underlying Restricted Stock becomes free of restrictions (or at such later date
as the Plan Administrator determines such issues are no longer present).

6. Restrictions on Transfer. Prior to the Restriction Ending Date and the removal of the
restrictions on the Shares, this Award and the Restricted Stock may not be sold, transferred,
pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of
descent and distribution.

7. Recapitalization. If there is any change in the Company’s Shares through the declaration of
stock dividends, a recapitalization, stock splits, or through merger, consolidation, exchange of
Shares, or otherwise, or in the event of an extraordinary dividend or other corporate transaction,
the Plan Administrator shall adjust the number and class of Shares subject to this Award (including
by making a different kind or class of securities subject to the Award), as well as the Award Price
per Share, to prevent dilution or enlargement of rights.

8. Beneficiary Designation. The Participant may, from time to time, name any beneficiary or
beneficiaries (who may be named contingently or successively) to whom any benefit under this Award
is to be paid in case of his or her death before he or she receives any or all of such benefit.
Each such designation shall revoke all prior designations by the Participant, shall be in a form
prescribed by the Company, and will be effective only when delivered during the Participant’s
lifetime to the Company at its executive offices, addressed to the attention of the Compensation
Department in Louisville, Kentucky.

9. Continuation of Employment. This Award shall not confer upon the Participant any right to
continued employment by the Company, nor shall this Award interfere in any way with the Company’s

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right to terminate the Participant’s employment at any time. A transfer of the Participant’s
employment between the Company and any of its subsidiaries, or between any divisions or
subsidiaries of the Company shall not be deemed a termination of employment.

10. Miscellaneous.

	 	A)	 	This Award and the Participant’s rights under it are subject to all the terms
and conditions of the Plan and this Restricted Stock Award Agreement, as they may be
amended from time to time, as well as to such rules as the Plan Administrator may
adopt. The Plan Administrator may impose such restrictions on this Award as it may
deem advisable, including, without limitation, restrictions under applicable Federal
securities laws, under the requirements of any stock exchange or market upon which such
Shares are then listed and/or traded, and under any blue sky or state securities laws
applicable to such Shares. The Restricted Stock shall be subject to the requirements
that, if at any time the Plan Administrator shall determine that (i) the listing,
registration or qualification of Class A Common Stock subject or related thereto upon
any securities exchange or under any federal or state law, or (ii) the consent or
approval of any governmental body, or (iii) an agreement by the Participant with
respect to the disposition of shares of Class A Common Stock is necessary or desirable
as a condition of, or in connection with, the delivery or purchase of shares pursuant
thereto, then in such event, the grant of Restricted Stock shall not be effective
unless such listing, registration, qualification, consent, approval or agreement shall
have been effected or obtained free of any conditions not acceptable to the Plan
Administrator.
	 
	 	 	 	The Plan Administrator may administer, construe, and make all determinations necessary
or appropriate to the administration of the Plan and this Award, all of which shall be
binding upon the Participant.
	 
	 	B)	 	Subject to the provisions of the Plan, the Board of Directors may terminate, amend,
or modify the Plan; provided, however, that no such termination, amendment, or
modification of the Plan may in any way adversely affect the Participant’s rights under
this Award, without the written consent of the Participant. This Agreement may not be
modified, amended or waived except by an instrument in writing signed by both parties
hereto. The waiver by either party of compliance with any provision of this Agreement
shall not operate or be construed as a waiver of any other provision of this Agreement,
or of any subsequent breach by such party of a provision of this Agreement.
	 
	 	C)	 	The Company may deduct or withhold, or require the Participant to remit to the
Company, an amount sufficient to satisfy Federal, state, and local taxes (including the
Participant’s FICA obligation) required by law to be withheld with respect to any
exercise of the Participant’s rights under this Award.
	 
	 	 	 	The Participant may remit sufficient cash to the Company to satisfy the withholding
requirement or the Participant may elect to satisfy the withholding requirement, in
whole or in part, by having the Company withhold Shares having an aggregate Fair Market
Value, on the date the tax is to be determined, equal to the amount required to be
withheld. Such elections shall be irrevocable, shall be in writing, and shall be signed
by the Participant before the day that the transaction becomes taxable.
	 
	 	D)	 	The Participant agrees to take all steps necessary to comply with all applicable
Federal and state securities law in exercising his or her rights under this Award.

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	 	E)	 	This Award shall be subject to all applicable laws, rules, and regulations, and to
such approvals by any governmental agencies or national securities exchanges as may be
required.
	 
	 	F)	 	The Company’s obligations under the Plan and this Award shall bind any successor to
the Company, whether succession results from a direct or indirect purchase, merger,
consolidation, or otherwise, of all or substantially all of the business and/or assets of
the Company.
	 
	 	G)	 	To the extent not preempted by Federal law, this Award shall be governed by, and
construed in accordance with, the laws of the State of Delaware.
	 
	 	H)	 	At all times when IRC Section 162(m) applies, all Awards to Designated Executive
Officers shall comply with its requirements, unless the Plan Administrator determines
that compliance is not desired or necessary for any Award or Awards. To that end, the
Plan Administrator may make such adjustments it deems appropriate for a specific Award or
Awards, except that a performance-based Award cannot be replaced by a
non-performance-based Award if performance goals are not achieved, nor can the
characterization of an Executive Officer as a Designated Executive Officer, once made,
change for a given Performance Period.
	 
	 	I)	 	This Award is subject to the terms of the Plan and Administrative Guidelines
promulgated under it from time to time. In the event of a conflict between this document
and the Plan, the Plan document as well as any determinations made by the Plan
Administrator as authorized by the Plan document, shall govern.
	 
	 	J)	 	The invalidity or unenforceability of any provision of this Agreement shall not
affect the validity or enforceability of any other provision of this Agreement.

[END OF TEXT.]

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     IN WITNESS WHEREOF, the parties have caused this Award to be executed as of the Grant
Date.

	 	 	 	 	 
	 	BROWN-FORMAN CORPORATION

 	 
	 	By:  	 	 
	 	 	Lisa Steiner 	 
	 	 	Senior Vice President,

Chief Human Resources Officer 	 
	 

	 	 	 	 	 
	 	  Agreed and Accepted:

 	 
	 	  	 	 
	 	 	Participant 	 
	 	 	 	 
	 

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Exhibit 10.4

BROWN-FORMAN

2004 OMNIBUS COMPENSATION PLAN

RESTRICTED STOCK UNIT AWARD

SUMMARY

	 	 	 

	Participant:

	 	EMPLOYEE NAME
	Grant Date:

	 	July XX, 201X
	Vesting Date:

	 	April 30, 201X
	Number of Class B Common RSUs:

	 	[    ]
	Class B Common Stock Price per Share on Grant Date:

	 	$[    ]

     THIS AWARD, effective as of the Grant Date set forth above, represents a grant of Class B
Common Restricted Stock Units by Brown-Forman Corporation, a Delaware corporation (the “Company”),
under the Company’s 2004 Omnibus Compensation Plan, as amended (the “Plan”) to the Company employee
named above (“Participant”). Capitalized terms not otherwise defined herein shall have the
meanings ascribed to them in the Plan.

     1. Grant of Restricted Stock Units. The Company hereby grants to the Participant that
number of Class B Common Restricted Stock Units (“RSUs”) set forth in the summary table above.
Each RSU represents the right to receive one share of the Company’s Class B Common Stock, subject
to the terms and conditions set forth herein and in the Plan. The RSUs are granted pursuant to
Section 7.3 of the Plan as “market value units” (“MVUs”), and for purposes of the Plan, shall be
designated and treated as MVUs under the Plan.

     2. Restrictions on Transferability. Until the delivery of shares of the Company’s
Class B Common Stock with respect to the RSUs in accordance with the terms of this Award, the RSUs
may not be sold, assigned, transferred, disposed of, pledged or otherwise hypothecated by the
Participant. Any attempted sale, assignment, transfer, disposition, pledge or hypothecation of the
RSUs shall be void and of no effect, and the Company shall have the right to disregard the same on
its books and records and issue “stop transfer” instructions to its transfer agent.

     3. Risk of Forfeiture and Payment of Shares. Except as provided herein or in the Plan,
the risk of forfeiture to which the RSUs are subject shall expire, and the number of shares of the
Company’s Class B Common Stock represented by this Award shall be issued to the Participant on the
vesting date set forth in the summary table above (“Vesting Date”) provided that the Participant
remains continuously employed by the Company or its Affiliates through the Vesting Date.

     4. Termination of Employment. In the event the Participant does not remain
continuously employed by the Company or its Affiliates through the Vesting Date, the following
rules will apply:

          4.1 Retirement. “Retirement” means termination of employment on or after reaching age
55 with at least five (5) full years of service, or on or after reaching age 65 with any

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service. If the Participant terminates employment by reason of Retirement, the RSU Vesting
Date will remain the same, except that the Participant will not be required to remain employed from
the Retirement date through the Vesting Date in order to receive payment hereunder; provided,
however, that if the Participant terminates employment by reason of Retirement during fiscal 2011,
the number of RSUs subject to this Award shall be prorated based upon the number of whole months
worked during fiscal 2011 prior to Retirement (out of a 12 month year), with the remaining portion
being immediately canceled and forfeited. Retirement does not accelerate the Vesting
Date or the issuance of shares on such date.

          4.2 Death/Disability. If the Participant dies or terminates employment due to
Disability (Disability to be determined by the Plan Administrator in its sole discretion in
accordance with Section 2.19 of the Plan), the RSU will vest immediately and the number of shares
of the Company’s Class B Common Stock represented by this Award shall be delivered to the
Participant’s beneficiary(ies), as determined pursuant to Section 8 below, within thirty (30) days
of the Participant’s death or termination of employment due to Disability, with the payment date
within such period to be determined by the Company in its sole discretion. Provided, however, that
if the Participant dies or terminates employment due to Disability during fiscal 2011, the number
of RSUs subject to this Award shall be prorated based upon the number of whole months worked during
fiscal 2011 prior to the Participant’s termination of employment due to death/Disability (out of a
12 month year), with the remaining portion being immediately canceled and forfeited.

          4.3 Voluntary Termination, Involuntary Termination for Cause, Involuntary Termination for
Poor Performance. Unvested RSUs shall be immediately forfeited to the Company, without
compensation to the Participant, in the event of the Participant’s voluntary termination,
involuntary termination for Cause (as such term is defined in the Plan), or involuntary termination
for Poor Performance (as determined by the Plan Administrator in its sole discretion).

          4.4 Involuntary Termination – “No Fault”. If the Participant’s employment is
involuntarily terminated with “no fault” on the part of the Participant (as determined by the Plan
Administrator in its sole discretion), the RSU Vesting Date will remain the same, except that the
Participant will not be required to remain employed following such “no fault termination” date
order to receive payment hereunder; provided however, that if the Participant’s employment is
involuntarily terminated with “no fault” on the part of the Participant during fiscal 2011, the
number of RSUs subject to this Award shall be prorated based upon the number of months worked
during fiscal 2011 prior to termination (out of a 12 month year), with any unearned portion being
immediately canceled and forfeited. A “no fault” termination does not accelerate the
Vesting Date or the issuance of shares on such date.

          4.5 Termination for any Other Reasons. Unless otherwise determined by the Plan
Administrator, in its sole discretion, if the Participant’s employment terminates for any reason
other than those set out in items 4.1, 4.2, 4.3 or 4.4 immediately above or item 5 below prior to
the Vesting Date, unvested RSUs shall be immediately forfeited to the Company, without compensation
to the Participant. Notwithstanding the foregoing, if the Plan

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Administrator determines to accelerate the Vesting Date for any Award upon the Participant’s
termination of employment, the payment date will be a date within sixty (60) days following the
Participant’s termination of employment, with the payment date within such period to be determined
by the Company in its sole discretion.

     5. Change in Control. Upon the occurrence of a Change in Control, as defined in the
Plan, RSUs shall be treated in accordance with Article 11 of the Plan. Provided however, that in
the event a termination without Cause or by Constructive Discharge (with the circumstances
constituting a Constructive Discharge to be determined by the Plan Administrator in its discretion
at or prior to a Change of Control) following a Change of Control occurs during fiscal 2011, the
number of RSUs subject to this Award shall be prorated based upon the number of whole months worked
during fiscal 2011 prior to termination (out of a 12 month year), with any unearned portion being
immediately canceled and forfeited.

     6. Rights as a Shareholder. The Participant has no rights as a shareholder including,
but not limited to, the right to receive dividends or dividend equivalents, or to vote on
shareholder issues, with respect to the RSUs. Shareholder rights accrue only upon the vesting of
the RSUs on the Vesting Date and the subsequent delivery of the shares.

     7. Recapitalization. If there is any change in the Company’s equity capitalization
through the declaration of stock dividends or through recapitalization resulting in stock splits or
through merger, consolidation, exchange of shares, or otherwise, the Plan Administrator shall
adjust the number of RSUs to prevent dilution or enlargement of rights.

     8. Beneficiary Designation. The Participant may, from time to time, name any
beneficiary or beneficiaries (who may be named contingently or successively) to whom any benefit
under this Award is to be paid in case of his or her death before he or she receives any or all of
such benefit. Each such designation shall revoke all prior designations by the Participant, shall
be in a form prescribed by the Company, and will be effective only when delivered during the
Participant’s lifetime to the Company at its executive offices, addressed to the attention of the
Compensation Department in Louisville, Kentucky. Absent a Participant’s proper and timely
designation of a beneficiary under this Section 8, any benefits payable under this Award upon the
Participant’s death shall be paid to the Participant’s estate.

     9. Continuation of Employment. This Award shall not confer upon the Participant any
right to continued employment by the Company, nor shall this Award interfere in any way with the
Company’s right to terminate the Participant’s employment at any time. A transfer of the
Participant’s employment between the Company and any of its subsidiaries, or between any divisions
or subsidiaries of the Company shall not be deemed a termination of employment for purposes of the
vesting of RSUs.

     10. Tax Consequences. By accepting this Award, the Participant acknowledges that (i)
the Participant (and not the Company) shall be responsible for any tax liability that may arise as
a result of this Award and/or its vesting and the issuance of Class B Common Stock in connection
therewith; (ii) he or she understands that the Company may deduct or withhold, or

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require the Participant to remit to the Company, an amount of Class B Common Stock sufficient
to satisfy Federal, state, and local taxes (including the Participant’s FICA obligation) required
by law to be withheld with respect to the vesting of this Award; and (iii) he or she is encouraged
to consult with a qualified tax advisor concerning the RSUs.

     11. Miscellaneous.

          11.1 This Award and the Participant’s rights under it are subject to all the terms and
conditions of the Plan, as the same may be amended from time to time, as well as to such rules as
the Plan Administrator may adopt. The Plan Administrator may, in its sole discretion, administer,
construe, and make all determinations necessary or appropriate to the administration of the Plan
and the RSUs, all of which shall be binding upon the Participant.

          11.2 Subject to the provisions of the Plan and any applicable law (including Section 409A of
the Code), the Board of Directors may terminate, amend, or modify the Plan; provided, however, that
no such termination, amendment, or modification of the Plan may in any way adversely affect the
Participant’s rights under this Award, without the written consent of the Participant.

          11.3 This Award shall be subject to all applicable laws, rules, and regulations, and to such
approvals by any governmental agencies or national securities exchanges as may be required. The
Participant agrees to take all steps necessary to comply with all Federal and state securities laws
applicable to this Award.

          11.4 The Company’s obligations under the Plan and this Award shall bind any successor to the
Company, whether succession results from a direct or indirect purchase, merger, consolidation, or
otherwise, of all or substantially all of the business and/or assets of the Company.

          11.5 To the extent not preempted by Federal law, this Award shall be governed by, and
construed in accordance with, the laws of the State of Delaware.

          11.6 This Award is subject to the terms of the Plan and Administrative Guidelines promulgated
under it from time to time. In the event of a conflict between this document and the Plan, the
Plan as well as any determinations made by the Plan Administrator as authorized by the Plan, shall
govern.

          11.7 The parties acknowledge and agree that, to the extent applicable, this Award shall be
interpreted in accordance with, and the parties agree to use their best efforts to achieve timely
compliance with, Section 409A of the Code and the Treasury Regulations and other interpretive
guidance issued thereunder, including without limitation any such regulations or other guidance
that may be issued after the Grant Date. Notwithstanding any provision of this Award to the
contrary, in the event that the Company determines that any compensation or benefits payable or
provided under this Award may be subject to Section 409A of the Code, the Company may adopt such
limited amendments to this Award and appropriate policies and procedures, including amendments and
policies with retroactive effect, that the Company

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reasonably determines are necessary or appropriate to (i) exempt the compensation and benefits
payable under this Award from Section 409A of the Code and/or preserve the intended tax treatment
of the compensation and benefits provided with respect to this Award or (ii) comply with the
requirements of Section 409A of the Code.

          11.8 Notwithstanding any other provision of this Award, to the extent the delivery of the
shares of the Company’s Class B Common Stock represented by this Award is treated as non-qualified
deferred compensation subject to Section 409A of the Code, then (a) no delivery of such shares
shall be made upon a Participant’s termination of employment unless such termination of employment
constitutes a “separation from service” within the meaning of Section 1.409A-1(h) of the Treasury
Regulations and (b) if the Participant is deemed at the time of his termination of employment to be
a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, then to the extent
delayed delivery of the shares of the Company’s Class B Common Stock to which the Participant is
entitled under this Award, and which is deliverable to the Participant due to his or her
termination of employment, is required in order to avoid a prohibited distribution under Section
409A(a)(2)(B)(i) of the Code, such delivery of shares shall not be made to the Participant prior to
the earlier of (x) the expiration of the six-month period measured from the date of the
Participant’s “separation from service” with the Company (as such term is defined in Section
1.409A-1(h) of the Treasury Regulations) or (y) the date of the Participant’s death. The
determination of whether the Participant is a “specified employee” for purposes of Section
409A(a)(2)(B)(i) of the Code as of the time of his separation from service shall be made by the
Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder
(including without limitation Section 1.409A-1(i) of the Treasury Regulations and any successor
provision thereto).

[END OF TEXT.]

[2010 Form ]

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     IN WITNESS WHEREOF, the Company has executed this Restricted Stock Unit Award effective as of
the Grant Date set forth above.

	 	 	 	 	 
	 	BROWN-FORMAN CORPORATION

 	 
	 	By:  	 	 
	 	 	Lisa Steiner 	 
	 	 	Senior Vice President,

Chief Human Resources Officer 	 
	 

[2010 Form ]

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