Document:

exv10w1

Exhibit 10.1

THIS BOND HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”), AND HAS
BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT
PROVIDED BY REGULATION S PROMULGATED UNDER THE SECURITIES ACT. SUCH SECURITY MAY NOT BE REOFFERED
FOR SALE OR RESOLD OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION
S, PURSUANT TO AN EFFECTIVE REGISTRATION UNDER THE SECURITIES ACT, OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT. HEDGING TRANSACTIONS INVOLVING THE SECURITY
MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.

NAVIOS MARITIME HOLDINGS INC.

Form
of 6% BOND DUE 2012

			
	 	 	 
	U.S.$20,000,000
	 	[___], 2009

     FOR VALUE RECEIVED, Navios Maritime Holdings Inc., a company incorporated under the laws of
the Marshall Islands (the “Company”), hereby
promises to pay to the order of [______]
 or its successors and assigns (the “Holder”), the principal sum of twenty million United
States Dollars (U.S.$20,000,000) (the “Principal”) as set forth herein, together with interest
thereon from the date of this 6% Bond (the “Bond”). Interest (“Interest”) shall accrue on any
unpaid Principal at a rate of 6% per annum, payable in arrears at maturity. Interest shall accrue
from the date hereof and be calculated based on a year of 365 or 366 days (as the case may be) and
actual days elapsed on the unpaid principal balance of this Bond.

     This Bond is referenced in, and has been issued pursuant to, that certain Subscription
Agreement, dated as of [___], 2009 (the “Subscription Agreement”), by and between the Company and
the Holder.

     Reference is hereby made to the further provisions set forth on the reverse hereof. Such
further provisions shall for all purposes have the same effects as though fully set forth at this
place.

     IN WITNESS WHEREOF, the Company has caused this Bond to be duly executed and dated the day and
year first written above.

	 	 	 	 	 	 	 
	 	 	NAVIOS MARITIME HOLDINGS INC.	 	 
	 
	 	 	 	 	 	 
	 
	 	By:	 		 	 
	 
	 	 	 	 
	 	 
	 
	 	Name:	 	Vasiliki Papaefthymiou	 	 
	 
	 	 	 	 
	 	 
	 
	 	Title:	 	Executive Vice President, Legal	 	 
	 

	 	 	 	 

	 	 

 

[REVERSE OF BOND]

     1. Payment.

          (a) Unless previously prepaid as provided herein, the Company promises to pay the Holder all
outstanding Principal of this Bond on July 24, 2012 (the “Maturity Date”).

          (b) The Company promises to pay Interest on the unpaid Principal as set forth on the face of
this Bond, at the rate of 6% per annum. Interest in the amount of U.S. $3.6 million will be
payable on the Maturity Date. Interest will be computed on the basis of a year of 365 or 366 days
(as the case may be) and actual days elapsed on the unpaid principal balance of this Bond on a
non-cumulative and non-compounding basis.

          (c) If the Company defaults in payment with respect to any Interest and/or Principal payment
on the Maturity Date, the Interest on the Bond thereafter shall be adjusted based on actual days
elapsed on the unpaid principal balance and interest of this Bond, to the extent lawful, to the
same rate per annum borne by the notes issued by the Company under the Indenture (as defined below)
(including overdue interest and Additional Interest (as defined in the Indenture), if any,
thereunder).

          (d) Any payment of Principal and Interest on the Maturity Date of this Bond, or any
prepayment, shall be made by wire transfer of immediately available funds to an account designated
by the Holder or by check sent to the Holder as the Holder may designate for such purpose from time
to time by written notice to the Company. If any payment date falls on a day that is not a
Business Day (as defined below), the payment then due will be made on the next succeeding Business
Day with the same force and effect as if made on such payment date. “Business Day” means any day
that is not a Saturday or Sunday and is not a day on which banking instructions are generally
authorized or obligated to close in the city of New York, New York.

     2. Prepayment. The Company may voluntarily prepay this Bond in whole or in part at any
time and from time to time without penalty. A ten (10) day prior notice (which includes, among
others, the date and amount of prepayment) shall be given to the Holder for any payments made under
this Condition 2.

     3. Additional Amounts. All payments of principal of and interest on the Bond will be
made without withholding or deduction for, or on account of, any present or future taxes, duties,
assessment or governmental charges of whatever nature imposed or levied by or within any
jurisdiction in which the Company is organized or resident for tax purposes (or any political
subdivision or taxing authority thereof or therein), unless such withholding or deduction is
required by law or by regulation or governmental policy having the force of law. In the event that
any such withholding or deduction due and owing by the Company is so required in any jurisdiction
in which the Company is organized or resident for tax purposes, the Company shall pay such
additional amounts (“Additional amounts”) as will result in receipt by the Holder of the Bond of
such amounts as would have been received by such Holder had no such withholding or deduction been
required.

     4. Indenture. Reference is made to the indenture dated December 18, 2006 among
the Company,
the guarantors set forth therein and Wells Fargo Bank, N.A., as trustee, for the 91/2% Senior
Notes due 2014, as amended and supplemented as of the date hereof, as filed with the U.S.
Securities and Exchange Commission (the “SEC”) (the “Indenture”). Capitalized terms used in the
Conditions 4, 5 and 6 hereof and not otherwise defined in this Condition (except for the terms
“Company” and “Holder,” which shall have the meaning as set forth in the preamble hereof) shall
have the meanings ascribed to such terms in the Indenture.

 

 

          5. Notice of Default. The Company undertakes to promptly inform the Holder of any
“Event of Default” by the Company stated in Condition 6 of this Bond.

          6. Events of Default.

          (a) The occurrence of any one or more of the following events (whether such occurrence shall
be voluntary or involuntary or come about or be effected by operation of law or otherwise) shall
constitute an “Event of Default:”

               (i) default by the Company in the payment when due and payable of the Principal and Interest
or any other sums due under this Bond;

               (ii) either the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary
or any group of Restricted Subsidiaries that, taken together, would constitute a Significant
Subsidiary as debtor in an involuntary case, pursuant to or within the meaning of any Bankruptcy
Law (as defined in the Indenture), (A) commences a voluntary case or proceeding, (B) consents to
the entry of an order for relief or decree against it in an involuntary case or proceeding, (C)
consents to the appointment of a custodian of it or for all or substantially all of its assets, (D)
makes a general assignment for the benefit of its creditors; (E) admits in writing its inability to
pay its debts generally as they become due; or (F) files a petition or answer or consent seeking
reorganization or relief; and

               (iii) a court of competent jurisdiction enters an order or decree (which remains unstayed and
in effect for 60 consecutive days) under any Bankruptcy Law that (A) is for relief against the
Company or any of its Restricted Subsidiaries that is a Significant Subsidiary or any group of
Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary as debtor
in an involuntary case or proceeding, (B) appoints a custodian of the Company or any of its
Restricted Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries
that, taken together, would constitute a Significant Subsidiary, or a custodian for all or
substantially all of the assets of the Company or any of its Restricted Subsidiaries that is a
Significant Subsidiary or any group of Restricted Subsidiaries that, taken together, would
constitute a Significant Subsidiary or adjudges any such entity or group a bankrupt or insolvent or
approves as properly filed a petition seeking reorganization, arrangement, adjustment or
composition of or in respect of such entity or group or (C) orders the winding up or liquidation of
the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary or any group of
Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary.

          (b) If an Event of Default occurs, the aggregate Principal amount of this Bond then
outstanding, together with all Interest accrued thereon pursuant to the terms of this Bond and
unpaid as of the date of such Event of Default, shall automatically become immediately due and
payable without presentment, demand, protest, or further notice, all of which are hereby waived.
If an Event of Default occurs and is continuing, in addition to acceleration as provided above, the
Holder may exercise all rights and pursue all available remedies by proceeding at law or in equity
to collect the payment of Principal or Interest or to enforce the performance of any provision of
this Bond, such remedies being cumulative, non-exclusive, and enforceable alternatively,
successively or concurrently. Any delay or omission by the Holder in exercising any right or
remedy accruing upon an Event of Default shall not impair such right or remedy or constitute a
waiver of or acquiescence in such Event of Default. If an Event of Default occurs, the Company
shall be responsible for any and all damages of the Holder including, without limitation, legal
fees and court costs.

          7. Amendments and Waivers. This Bond may not be modified, amended, waived, extended,
changed, discharged, or terminated orally or by any act or failure to act, but only by an

 

 

instrument in writing signed by the party against whom enforcement of any modification,
amendment, waiver, extension, change, discharge, or termination is sought.

          8. Successors and Assigns. This Bond applies to, inures to the benefit of, and binds
the successors of the parties hereto. The Company may not assign their rights or obligations under
this Bond, without the prior written consent of the Holder.

          9.  Assignment. This Bond may be assigned or otherwise transferred by the Holder from
time to time in compliance with applicable securities laws without the consent of the Company to an
affiliate of the Holder or to any financial institution, and in the event of any such assignment or
transfer, the obligations of the Company hereunder shall inure to the benefit of all such assigns
and successors. In the event Holder assigns or otherwise transfers all or any part of this Bond,
the Company shall, upon the request of the Holder issue new Bonds to effectuate such assignment or
transfer. Except as provided herein, neither the Holder nor the Company may assign or delegate its
obligations hereunder without the prior written consent of the other party, and any purported
assignment without such consent shall be void and of no effect.

          10. Governing Law; Jurisdiction; Appointment of Agent for Service. This Bond shall be
governed by and interpreted and enforced in accordance with the laws of the State of New York,
without giving effect to any choice of law or conflict of laws rules or provisions (whether of the
State of New York or any other jurisdiction) that would cause the application of the laws of any
jurisdiction other than the State of New York. THE COMPANY HEREBY IRREVOCABLY CONSENTS TO THE
JURISDICTION, VENUE AND FORUM OF ANY STATE OR FEDERAL COURT IN THE CITY OF NEW YORK, STATE OF NEW
YORK WITH RESPECT TO ANY ACTION, COMMENCED BY THE HOLDER OF THIS BOND, TO THE EXTENT THE SAME
ARISES UNDER OR RELATES TO THIS BOND. THE COMPANY IRREVOCABLY WAIVES ANY OBJECTION TO THE LAYING
OF VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH A COURT AND ANY CLAIM THAT ANY SUCH
SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.
ALSO, THE COMPANY HEREBY IRREVOCABLY APPOINTS MINTZ, LEVIN, COHN, FERRIS, GLOVSKY AND POPEO P.C.
WITH OFFICES AT 666 THIRD AVE., 25TH FLOOR, NEW YORK, NEW YORK, 10017, AS THEIR AGENT
FOR SERVICE OF PROCESS. THE COMPANY HEREBY WAIVES ANY OTHER REQUIREMENTS OF OR OBJECTIONS TO
PERSONAL JURISDICTION WITH RESPECT THERETO.

          11. Judgment Currency. If for the purposes of obtaining judgment in any court it is
necessary to convert a sum due hereunder into any currency other than United States dollars, the
parties hereto agree, to the fullest extent permitted by law, that the rate of exchange used shall
be the rate at which in accordance with normal banking procedures the Holder could purchase United
States dollars with such other currency in The City of New York on the business day preceding that
on which final judgment is given. The obligation of the Company, as the case may be, with respect
to any sum due from it to the Holder shall, notwithstanding any judgment in a currency other than
United States dollars, not be discharged until the first Business Day following receipt by the
Holder of any sum in such other currency, and only to the extent that the Holder may in accordance
with normal banking procedures purchase United States dollars with such other currency. If the
United States dollars so purchased are less than the sum originally due to the Holder, the Company,
as the case may be, agrees as a separate obligation and notwithstanding any such judgment, to
indemnify the Holder against such loss. If the United States dollars so purchased are greater than
the sum originally due to the Holder, the Holder agrees to pay to the Company, as the case may be,
an amount equal to the excess of the dollars so purchased over the sum originally due to the
Holder.

 

 

          12. Severability. Each provision of this Bond is intended to be severable from every
other provision, and the invalidity or illegality of any portion hereof shall not affect the
validity or legality of the remainder hereof.

          13. Notice. Any consent, request, waiver, notice or other communication or document
required or permitted to be given pursuant to any provision of this Bond shall be deemed duly given
only when in writing and sufficient if delivered personally or sent by nationally-recognized
overnight courier or by registered or certified mail, postage prepaid, return receipt requested, or
by electronic mail, or by facsimile, if to the Company, at the address of the Company as shown
below, or, if to the Holder, at the address of the Holder as shown below. All such consents,
requests, waivers, notices or other communications or documents shall be deemed to be received (a)
in the case of personal delivery, on the date of such delivery, (b) in the case of
nationally-recognized overnight courier, on the next business day after the date when sent, (c) in
the case of facsimile transmission or electronic mail, upon confirmed receipt, and (d) in the case
of mailing, on the third (3rd) business day following the date on which the piece of mail
containing such communication was posted by registered or certified mail, postage prepaid, return
receipt requested.

          If to the Company, to:

Navios Maritime Holdings Inc.

85 Akti Miaouli Street

Piraeus

Greece 185 38

Attention: Vasiliki Papaefthymiou

Facsimile: +30 210 45 31 984

          With a required copy to (which shall not constitute notice):

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

666 Third Avenue

New York, NY 10017

Attn: Kenneth R. Koch, Esq.

Facsimile: + 1 212 983 3115

          If to the Holder, to:

[                       ]

[                       ]

[                       ]

Attn: [                  ]

Facsimile [                  ]

          With a required copy to (which shall not constitute notice):

[                       ]

[                       ]

[                       ]

Attn: [                  ]

Facsimile [                  ]

          14. Headings and Captions. The headings and captions for the various sections of this
Bond, and the use of defined terms are for convenience of reference only and shall in no way modify
or

 

 

affect the meaning or construction of any of the terms or provisions hereof.

          15. Interpretation; Time. The Company and the Holder agree that, in interpreting this
Bond, there shall be no inferences drawn against the drafting party. Time is of the essence with
respect to each and every provision of this Bond.

          16. No Impairment. The Company will not, by any voluntary action, avoid or seek to
avoid the observance or performance of any of the terms to be observed or performed hereunder by
the Company, but will, at all times, in good faith, assist in carrying out of all the provisions of
this Bond and in the taking of all such action as may be necessary or appropriate in order to
protect the rights of the Holder against impairment.exv10w16w1

Exhibit 10.16.1

JACK IN THE BOX INC.

RESTRICTED STOCK AWARD

UNDER THE 2004 STOCK INCENTIVE PLAN

     THIS AGREEMENT is made as of                     , 20___ between Jack in the Box Inc., a Delaware
corporation (the “Company”), and «FULL_NAME» (the “Awardee”).

RECITALS

     The Compensation Committee (the “Committee”) of the Board of Directors of the Company which
administers the Company’s 2004 Stock Incentive Plan (the “Plan”), has granted to the Awardee as of
                    , 20___, this award of Restricted Stock, on the terms and conditions set forth
herein.

AGREEMENT

     In consideration of the foregoing and of the mutual covenants set forth herein and other good
and valuable consideration, the parties hereto agree as follows:

     1. RESTRICTED STOCK AWARD. The Committee hereby grants «SHARES» («NUMBER_OF_SHARES») shares
of common stock of the Company, par value $0.01 per share (the “Award”) to the Awardee. As of the
date of this Award, the Awardee will acquire and the Company will issue, subject to the terms and
conditions set forth herein, the number of shares of Common Stock of the Company, par value $0.01
per share (“Common Stock”) provided under this Award. As a condition to the issuance of the Award,
the Awardee shall execute and deliver to the Company along with this executed Agreement (a) the
Joint Escrow Instructions in the form attached to this Agreement and (b) the Assignment Separate
from Certificate duly endorsed (with date and number of shares blank) in the form attached to this
Agreement.

     2. VESTING. Notwithstanding any other provision of the Plan to the contrary, and except as
may be provided in the sole and absolute discretion of the Company, or as provided in Section 13
(Terminating Transactions) of this Agreement, no shares of Common Stock issued under this Award
shall become vested at any time prior to the Awardee’s termination of employment with the Company.
Upon the Awardee’s termination of employment, that portion of the Award which shall be considered
vested as of such termination date, shall be determined in accordance with Section 6 of this
Agreement. If any shares subject to this Award would otherwise become vested on a day on which the
sale of such shares would violate the provisions of the Company’s Insider Trading policy, then such
vesting automatically shall be deemed to occur on the next day on which the sale of such shares
would not violate the Insider Trading policy.

     3. CONSIDERATION. The Company acknowledges that Awardee has earned the Award Shares in the
form of services previously rendered to the Company or a subsidiary pursuant to Delaware Code
Section 153.

     4. AWARD AS COMPENSATION. No amount attributable to this Award shall be considered as
compensation for the purposes of any other Company sponsored plans.

     5. CERTIFICATE REGISTRATION. The certificate for the shares of Common Stock underlying this
Award shall be registered in the name of the Awardee (as evidenced by the appropriate entry on the
books of the Company or of a duly authorized transfer agent of the Company).

 

 

     6. TERMINATION OF EMPLOYMENT.

          (a) Termination for Cause. If the Awardee is terminated for cause (as determined by
the Company’s Board of Directors (the “Board”) in its sole discretion) prior to <date 10 years
from grant date>, then all of the shares of Common Stock underlying this Award will be
automatically forfeited by the Awardee concurrently with such termination of employment, unless
otherwise determined by the Board in its sole discretion. If the Awardee is terminated for cause
prior to <<date 10 years from grant date>>, and unless otherwise determined by the
Board in its sole discretion, the Awardee shall not be deemed vested in any portion of this Award,
regardless of any vesting percentage which might have applied to such Award on account of this
Section 6 for any other reason.

          (b) Involuntary Termination or Voluntary Termination. If the Awardee ceases to be
employed by the Company, its parent or a subsidiary because of Awardee’s involuntary termination
(other than for cause as described above) or voluntary termination, before the Awardee is eligible
to retire under a Company sponsored retirement plan, then that portion of the Award which shall be
considered vested on such termination shall be, unless otherwise determined by the Board in its
sole discretion, calculated in accordance with the following schedule.

	 	 	 	 	 
	Date of Termination	 	Vesting Percentage	 
	Prior to <<date 3 years from grant date>>
	 	 	0	%
	On or after <<date 3 years from grant date>>
	 	 	15	%
	On or after <<date 4 years from grant date>>
	 	 	20	%
	On or after <<date 5 years from grant date>>
	 	 	25	%
	On or after <<date 6 years from grant date>>
	 	 	30	%
	On or after <<date 7 years from grant date>>
	 	 	35	%
	On or after <<date 8 years from grant date>>
	 	 	40	%
	On or after <<date 9 years from grant date>>
	 	 	45	%
	On or after <<date 10 years from grant date>>
	 	 	100	%

Any portion of the Award which is not vested on the date of termination of employment, or
determined to be vested by the Board in its sole discretion, shall be forfeited as of the date of
termination of employment. It shall be the responsibility of the Awardee to notify the Company of
any changes in address. As used in this Agreement, the term “parent” means any present or future
corporation which would be a “parent corporation” of the Company as defined in Section 424(e) of
the Internal Revenue Code and, “subsidiary” means any present or future corporation which would be
a “subsidiary corporation” of the Company as defined in Section 424(f) of the Internal Revenue
Code.

          (c) Retirement. If Awardee is eligible to retire under a Company sponsored retirement
plan and ceases to be employed by the Company, its parent or a subsidiary for any reason other than
(a) termination for cause, as determined by the Company in its sole discretion, or, (b) the
Awardees death or Total and Permanent Disability (as defined below), then this Award shall become
vested on such termination date in an amount equal to the greater of (i) such vesting as would have
been determined by assuming 30% of the Award vested on <<date 3 years from grant
date>>, and thereafter an additional 10% of the shares subject to this Award shall have
become vested on each anniversary date of the Award following <<date 3 years from grant
date>> until such time as the Award became 100% vested on the date 10 years after the
anniversary of the original grant of this Award, or (ii) provided that as of <<date 3 years
from grant date>>, the Awardee is still employed by the Company, and had been continuously
employed by the Company since the date this Award was granted, such vesting as would have occurred
had 10% of the Award been determined to be vested for each year of service the Awardee provided to
the Company, or (iii) in such greater amount as may be determined by the Board in its sole
discretion. In no event however shall any portion of this Award be considered vested prior to the
Awardee’s termination date. It shall be the responsibility of the Awardee to notify the Company of
any changes in address.

          (d) Disability. If Awardee shall suffer Total and Permanent Disability while
in the employment of the Company, its parent or a subsidiary, then this Award will become 100%
vested on such date the Awardee terminates employment on account of such Total and Permanent
Disability. As used in this Agreement “Total and Permanent Disability” is defined as a physical or
mental condition that results in a total and

 

 

permanent disability to such extent that the person is eligible for disability benefits under the
federal Social Security Act.”

          (e) Death. If Awardee dies while in the employment of the Company, its parent or a
subsidiary, and the Awardee had not been determined to have suffered Total and Permanent Disability
within ninety (90) days of such Awardee’s death, then this Award will become 100% vested on the
date the Awardee terminates employment on account of death. The Award shall be considered
transferred to the person or persons (the “Heir”) to whom Awardee’s rights under the Award passed
by will or by the applicable laws of descent and distribution, as to all shares of Common Stock
granted under this Award. It shall be the responsibility of the Heir to notify the Company of any
changes in address.

     7. COMPANY REACQUISITION RIGHT. In the event that (a) the Awardee’s employment terminates for
any reason or no reason, with or without cause, or (b) the Awardee, the Awardee’s legal
representative, or other holder of the shares of Common Stock subject to this Award, attempts to
sell, exchange, transfer, pledge, or otherwise dispose of any portion of this Award prior to its
distribution from the escrow established in accordance with Section 8 of this Agreement, the
Company shall automatically reacquire such shares underlying the applicable portion of this Award,
and the Awardee shall not be entitled to any payment therefore (the “Company Reacquisition Right”).

     8. ESCROW. To ensure that shares of Common Stock subject to the Company Reacquisition Right
will be available for reacquisition, the Awardee agrees to deliver to and deposit with an escrow
agent designated by the Company the certificate evidencing the shares of Common Stock subject to
the Award, together with an Assignment Separate from Certificate with respect to such certificate
duly endorsed in the form attached to this Agreement, to be held by the agent under the terms and
conditions of the Joint Escrow Instructions in the form attached to this Agreement (the “Escrow”).
The Company shall bear the expenses of the Escrow.

          As soon as practicable after the expiration of the Company’s Reacquisition Right with respect
to any shares underlying this Award, the Company shall give to the escrow agent a written notice
directing the escrow agent to deliver such shares of Common Stock to the Awardee. As soon as
practicable after receipt of such notice, the escrow agent shall deliver to the Awardee the shares
of Common Stock specified in such notice, and the Escrow shall terminate with respect to such
shares.

     9. TAXES AND WITHHOLDING. At the time this Agreement is executed, or at any time as requested
by the Company, the Awardee hereby authorizes withholding from any amounts payable to the Awardee,
including specifically any payroll check, and otherwise agrees to make adequate provision for, any
sums required to satisfy the income taxes, FICA, state disability insurance or other similar
payroll and withholding taxes arising from the receipt of shares of Common Stock subject to this
Award, including without limitation, obligations arising upon the (a) transfer of shares of Common
Stock to the Awardee, (b) the vesting of any shares subject to this Award, or (c) the filing of an
election to recognize tax liability. The Company shall have no obligation to deliver the shares or
to release any shares from Escrow until the tax withholding obligations of the Company have been
satisfied by the Awardee.

          If, the Company determines that it is required to withhold taxes on account of any present or
future tax required as a result of this Award, the Company may also require the Awardee to pay the
amount of such tax by a cashier’s or certified bank check, or, at the sole discretion of the
Company, by either (a) personal check, payable to the order of Jack in the Box Inc., in advance of
and as a condition to the delivery of the shares of Common Stock out of the Escrow, or (b) to
deduct from the shares of Common Stock to be distributed from the Escrow that number of whole
shares of Common Stock having a fair market value equal to all or any part of the federal, state,
local and foreign taxes, if any, required by law to be withheld by the Company with respect to such
distribution.

     10. LEGALITY. The Company is not required to issue any shares of Common Stock subject to this
Award until all applicable requirements of the Securities and Exchange Commission (the “SEC”), the
California Department of Corporations or other regulatory agencies having jurisdiction with respect
to such issuance, and any exchanges upon which the Common Stock may be listed, shall have been
fully complied with.

 

 

          If the shares of Common Stock subject to this Award are being distributed subject to
restrictions or if the rules and interpretations of the SEC so require, such shares may be issued
only if Awardee represents and warrants in writing to the Company that the shares are being
acquired for investment and not with a view to the distribution thereof, and any certificates
issued upon distribution of the shares shall bear appropriate legends setting forth the
restrictions on transfer of such shares. Such legends may not be removed until the Company so
requests, based on the opinion of the Company’s Counsel that the restrictions are no longer
applicable.

     11. ADJUSTMENTS IN STOCK. Subject to the provisions of the Plan, if the outstanding shares of
the Company of the class subject to this Award are increased or decreased, or are changed into or
exchanged for a different number or kind of shares or securities as a result of one or more
reorganizations, recapitalizations, stock splits, reverse stock splits, stock dividends and the
like, appropriate adjustments, to be conclusively determined by the Committee, shall be made in the
number and/or type of shares or securities subject to this Award consistent with any and all
changes stipulated above, and any fractional shares resulting from adjustments will be rounded down
to the nearest whole number share.

     12. NONTRANSFERABILITY OF AWARD. This Award is not transferable otherwise than by will or the
laws of descent and distribution. This Award shall not be otherwise transferred, assigned,
pledged, hypothecated or otherwise disposed of in any way, whether by operation of law or
otherwise, and shall not be subject to execution, attachment or similar process. Upon any attempt
to transfer this Award otherwise than by will or the laws of descent and distribution or to assign,
pledge, hypothecate or otherwise dispose of this Award, or upon the levy of any execution,
attachment or similar process upon this Award, this Award shall immediately terminate and become
null and void.

     13. TERMINATING TRANSACTIONS. Upon the dissolution or liquidation of the
Company prior to the shares of Common Stock subject to this Award becoming 100% vested this Award
shall terminate. Upon the occurrence of any (i) merger or consolidation in which the Company shall
not be the surviving entity (or survives only as a subsidiary of another entity whose shareholders
did not own all or substantially all of the Company’s Common Stock immediately prior to such
transaction), (ii) sale of all or substantially all of the Company’s assets to any other person or
entity (other than a wholly-owned subsidiary), or (iii) the acquisition of beneficial ownership or
control of (including, without limitation, power to vote) more than 50% of the outstanding shares
of Common Stock by any person or entity (including a “group” as defined by or under Section
13(d)(3) of the Securities Exchange Act of 1934, as amended (collectively a “Terminating
Transaction”), this Award shall terminate unless provision be made in writing in connection with
such transaction for the assumption of the Award or the substitution for the Award of a new Award
covering the shares of Common Stock of a successor employer corporation, or a parent or subsidiary
thereof or of the Company, with appropriate adjustments as to the number and kind of shares and
prices, in which event this Award shall continue in the manner and under the terms so provided. If
this Award shall terminate pursuant to the foregoing sentences, the shares subject to the Award
shall be considered 100% vested at such time immediately prior to the consummation of the
Terminating Transaction as the Company shall designate.

     14. NOTICES. All notices or other communications under this Agreement shall be
given in writing and shall be deemed duly given and received on the third full
business day following the day of the mailing thereof by registered or certified mail, return
receipt requested, or when delivered personally as follows:

          (a) If to the Company, at its principal executive offices at the time of the giving of such
notice, or at such other place as the Company shall have designated by notice as herein provided to
each of the Awardees;

          (b) If to Awardee, at the address as it appears below Awardee’s signature to this Agreement,
or at such other place as Awardee shall have designated by notice as herein provided to the
Company; and

          (c) If to any other holder, at such holder’s last address appearing in the Company’s records.

 

 

     15. PLAN CONTROLS. The Award and all terms and conditions set forth in this Agreement are
subject in all respects to the terms and conditions of the Plan as may be amended from time to
time, (but no amendment shall adversely affect the Awardee’s rights under this Award) and any rules
and regulations promulgated by the Committee, which shall be controlling. All constructions,
interpretations, rule determinations or other actions taken by the Committee shall be final,
binding and conclusive on all interested parties, including the Company and its subsidiaries and
all former, present and future employees of the Company or its subsidiaries.

     16. RIGHT TO CONTINUED EMPLOYMENT. Nothing in the Plan or in this Agreement shall confer upon
the Awardee any right to continue in the employment of the Company or any of its subsidiaries or
interfere in any way with any right of the Company to terminate the Awardee’s employment at any
time.

     17. RIGHTS AS A SHAREHOLDER. The Awardee shall have no rights as a stockholder with respect
to the shares of Common Stock subject to the Award until the date of the issuance of a certificate
for such shares of Common Stock (as evidenced by the appropriate entry on the books of the Company
or of a duly authorized transfer agent of the Company). No adjustment shall be made for dividends,
distributions or other rights for which the record date is prior to the date such certificate is
issued, except as provided in Section 11. Subject to the provisions of this Agreement, the Awardee
shall be entitled to all rights and privileges of a stockholder of the Company with respect to
shares of Common Stock deposited in the Escrow pursuant to Section 8.

     18. ARBITRATION. Any dispute or claim concerning any Award granted (or not granted) pursuant
to the Plan and this Agreement and any other disputes or claims relating to or arising out of the
Plan and this Agreement shall be fully, finally and exclusively resolved by binding arbitration
conducted in San Diego, California, by either (i) the American Arbitration Association in
accordance with its rules and procedures, or (ii) by any party mutually agreed upon by the
Committee and the claimant. By accepting an Award, the Awardee and the Company waive their
respective rights to have any disputes or claims tried by a judge or jury.

     19. LAWS APPLICABLE TO CONSTRUCTION. This Agreement shall be deemed to be a contract under
the laws of the State of Delaware and for all purposes shall be construed and enforced in
accordance with the internal laws of the State of Delaware without regard to the principles of
conflicts of law.

     20. RECEIPT OF PROSPECTUS. The Awardee hereby acknowledges that he or she has received a copy
of the prospectus relating to the Award and the shares covered thereby and the Plan.

     21. GENERAL. The Company shall at all times during the term of this Award reserve and keep
available such numbers of shares of Common Stock as will be sufficient to satisfy the requirements
of this Award, shall pay all fees and expenses necessarily incurred by the Company in connection
therewith, and will from time to time use its best efforts to comply with all laws and regulations
which, in the opinion of counsel for the Company, shall be applicable thereto.

     22. ANNUAL REPORTS. The Company shall during the term of this Award provide to Awardee an
annual report regarding the Company.

     23. MISCELLANEOUS.

          (a) This writing constitutes the entire agreement of the parties with respect to the subject
matter hereof and may not be modified or amended except by a written agreement signed by Awardee
and the Company. Anything in this Agreement to the contrary notwithstanding, any modification or
amendment of this Agreement by a written agreement signed by, or binding upon, Awardee shall be
valid and binding upon any and all persons or entities who may, at any time, have or claim any
rights under or pursuant to this Agreement (including all Awardees hereunder) in respect of the
Award granted to the Awardee.

          (b) No waiver of any breach or default hereunder shall be considered valid unless in writing

 

 

and no such waiver shall be deemed a waiver of any subsequent breach or default of the same or
similar nature. Anything in this Agreement to the contrary notwithstanding, any waiver, consent or
other instrument under or pursuant to this Agreement signed by, or binding upon, Awardee shall be
valid and binding upon any and all persons or entities (other than the Company) who may, at any
time, have or claim any rights under or pursuant to this Agreement (including all Awardees
hereunder) in respect of the Award originally granted to Awardee.

          (c) Except as otherwise expressly provided herein, this Agreement shall be binding upon and
inure to the benefit of the Company, its successors and assigns, and Awardee and his heirs,
personal representatives, successors and assigns; provided, however, that nothing contained herein
shall be construed as granting Awardee the right to transfer any of his Award except in accordance
with this Agreement.

          (d) If any provision of this Agreement shall be invalid or unenforceable, such invalidity or
unenforceability shall attach only to such provision and shall not in any manner affect or render
invalid or unenforceable any other severable provision of this Agreement, and this Agreement shall
be carried out as if any such invalid or unenforceable provision were not contained herein.

          (e) The section headings contained herein are for the purposes of convenience only and are not
intended to define or limit the contents of said sections.

          (f) Each party hereto shall cooperate and shall take such further action and shall execute and
deliver such further documents as may be reasonably requested by any other party in order to carry
out the provisions and purposes of this Agreement.

          (g) Whenever the pronouns “he” or “his” are used herein they shall also be deemed to mean
“she” or “hers” or “it” or “its” whenever applicable. Words in the singular shall be read and
construed as though in the plural and words in the plural shall be read and construed as though in
the singular in all cases where they would so apply.

          (h) This Agreement may be executed in counterparts, all of which taken together shall be
deemed one original.

 

 

     IN WITNESS WHEREOF, the Company has caused this Award to be granted on its behalf by its
President or one of its Vice Presidents and Awardee has hereunto set his hand on the day and year
first above written.

	 	 	 	 	 	 	 	 	 
	 

	 	Jack in the Box Inc.
	 	 	 	Awardee	 	 
	 
	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 
	 

	 	<<Name>>
	 	 	 	Signature	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 

Name
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 

Street Address
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 

City and State
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 

Social Security No.

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