Document:

Exhibit 10.1

 

Exhibit 10.1

VIASAT, INC.

RESTRICTED STOCK UNIT AWARD AGREEMENT

THE THIRD AMENDED AND RESTATED 1996 EQUITY PARTICIPATION PLAN

 

	 	 	 
	 
	 	 
	Grant: _________ shares of Restricted Stock Units

	 	Name:
	 
	 	 
	Grant Date:

	 	Signature:

 

1. Grant. Effective on the Grant Date, you have been granted the number of shares
indicated above of Restricted Stock Units (the “RSU”), providing you the
entitlement to receive Common Stock of ViaSat, Inc., a Delaware corporation (the
“Company”), as the RSU vests, in accordance with the provisions of this Agreement
and the provisions of the Third Amended and Restated 1996 Equity Participation Plan
of ViaSat, Inc. (the “Plan”). Restricted Stock Units are defined as “Deferred
Stock” in the Plan.

2. Forfeiture Upon Termination. Until vested, the RSU shall be subject to
forfeiture in the event of the termination of your employment or service with the
Company and all of its Subsidiaries for any reason, whether such termination is
occasioned by you, by the Company or any of its Subsidiaries, with or without cause
or by mutual agreement (“Termination of Employment”).

3. Transferability. Until vested, the RSU or any right or interest therein is not
transferable except by will or the laws of descent and distribution. Until Common
Stock is issued upon settlement of the RSU, you will not be deemed for any purpose
to be, or have rights as, a Company shareholder by virtue of this Award. You are
not entitled to vote any shares of Common Stock by virtue of this award.

4. Vesting. The RSU will vest and no longer be subject to the restrictions of and
forfeiture under this Agreement in one-fourth (1/4th or 25%) increments
on each anniversary of the Grant Date. Notwithstanding the foregoing, the RSU
shall be fully vested upon your Termination of Employment by reason of death or
permanent disability. “Permanent disability” means that you are unable to perform
your duties by reason of any medically determined physical or mental impairment
which can be expected to result in death or which has lasted or is expected to last
for a continuous period of at least 12 months, as reasonably determined by the
Compensation and Human Resources Committee of the Board (the “Committee”) in their
discretion.

5. Payment After Vesting. Upon vesting in the RSU, you will be issued shares of
Common Stock equal to the number of vested shares, in settlement of the RSU
(subject to the withholding requirements described in paragraph 6 below, as
applicable).

6. Withholding. The Company has the authority to deduct or withhold, or require
you to remit to the Company, an amount sufficient to satisfy applicable Federal,
state, local and foreign taxes (including any FICA obligation) required by law to
be withheld with respect to any taxable event arising from the receipt of the
shares of Common Stock upon settlement of the RSU. At any time not less than five
(5) business days before any such tax withholding obligation arises, you may
satisfy your tax obligation, in whole or in part, by either: (i) electing to have
the Company withhold cash payable or shares otherwise to be delivered with a Fair
Market Value equal to the minimum amount of the tax withholding obligation, or (ii)
paying the amount of the tax withholding obligation directly to the Company in
cash. Unless you choose to satisfy your tax withholding obligation in accordance
with subsection (ii) above, your tax withholding obligation will be automatically
satisfied in accordance with subsection (i) above. The Committee or the Board will
have the right to disapprove an election to pay

 

 

 your tax withholding obligation
under subsection (ii) in its sole discretion. In the event your tax withholding
obligation will be satisfied under subsection (i) above, then the Company, upon approval of the Committee or the Board, may elect (in lieu of withholding shares)
to instruct any brokerage firm determined acceptable to the Company for such
purpose to sell on your behalf a whole number of shares from those shares of the
RSU issuable to you as the Company determines to be appropriate to generate cash
proceeds sufficient to satisfy your tax withholding obligation. Your acceptance
of this RSU award constitutes your instruction and authorization to the Company and
such brokerage firm to complete the transactions described in the previous
sentence, as applicable. Such shares will be sold on the day the tax withholding
obligation arises (e.g., a vest date) or as soon thereafter as practicable. The
shares may be sold as part of a block trade with other participants of the Plan in
which all participants receive an average price. You will be responsible for all
broker’s fees and other costs of sale, and you agree to indemnify and hold the
Company harmless from any losses, costs, damages, or expenses relating to any such
sale. To the extent the proceeds of such sale exceed your tax withholding
obligation, the Company agrees to pay such excess in cash to you as soon as
practicable. You acknowledge that the Company or its designee is under no
obligation to arrange for such sale at any particular price, and that the proceeds
of any such sale may not be sufficient to satisfy your tax withholding obligation.
The Company may refuse to issue any Common Stock under your RSU award to you until
your tax withholding obligations are satisfied. To the maximum extent permitted by
law, the Company has the right to retain without notice from shares issuable under
the RSU award or from salary payable to you, shares or cash having a value
sufficient to satisfy your tax withholding obligation.

7. No Effect on Employment. Nothing in the Plan or this Agreement shall be
interpreted to interfere with or limit in any way the right of the Company or any
Subsidiary to terminate your employment or services at any time, nor confer upon
you the right to continue in the employ or service of the Company or any
Subsidiary.

8. Plan Governs. This RSU Award is granted under and governed by the terms and
conditions of the Plan. You acknowledge and agree that the Plan has been
introduced voluntarily by the Company and in accordance with its terms it may be
amended, cancelled, or terminated by the Company, in its sole discretion, at any
time. The grant of RSU under the Plan is a one-time benefit and does not create
any contractual or other right to receive an award of RSU or benefits in lieu of
RSU in the future. Future awards of RSU, if any, will be at the sole discretion of
the Company, including, but not limited to, the timing of the award, the number of
shares and vesting provisions. By execution of this Agreement, you consent to the
provisions of the Plan and this Agreement. Defined terms used herein shall have
the meaning set forth in the Plan, unless otherwise defined herein.

VIASAT, INC.

	 	 	 	 	 
	By:

	 	 
	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	Its:

	 	 
	 	 
	 

	 	 	 	 

2Exhibit 10.2

 

Exhibit 10.2

VIASAT, INC.

EXECUTIVE RESTRICTED STOCK UNIT AWARD AGREEMENT

THE THIRD AMENDED AND RESTATED 1996 EQUITY PARTICIPATION PLAN

 

	 	 	 
	 
	 	 
	Grant: _________ shares of Restricted Stock Units

	 	Name:
	 
	 	 
	Grant Date:

	 	Signature:

 

1. Grant. Effective on the Grant Date, you have been granted the number of shares indicated
above of Restricted Stock Units (the “RSU”), providing you the entitlement to receive Common
Stock of ViaSat, Inc., a Delaware corporation (the “Company”), in accordance with the provisions
of this Agreement and the provisions of the Third Amended and Restated 1996 Equity Participation
Plan of ViaSat, Inc. (the “Plan”). Restricted Stock Units are defined as “Deferred Stock” in
the Plan.

2. Forfeiture Upon Termination. Until vested, the RSU shall be subject to forfeiture in the
event of the termination of your employment or service with the Company and all of its
Subsidiaries for any reason, whether such termination is occasioned by you, by the Company or any
of its Subsidiaries, with or without cause or by mutual agreement (“Termination of Employment”).

3. Transferability. Until vested and issued upon settlement, the RSU or any right or interest
therein is not transferable except by will or the laws of descent and distribution. Until Common
Stock is issued upon settlement of the RSU, you will not be deemed for any purpose to be, or have
rights as, a Company shareholder by virtue of this Award. You are not entitled to vote any
shares of Common Stock by virtue of this award.

4. Vesting.

     (a) The RSU will vest and no longer be subject to the restrictions of and forfeiture
under this Agreement in one-fourth (1/4th or 25%) increments. The first
one-fourth will vest on the 13th month anniversary of the Grant Date and
the remaining three fourths will vest on the second, third and fourth anniversaries
of the Grant Date.

     (b) Notwithstanding the foregoing, the RSU shall be fully vested upon your
Termination of Employment by reason of death or permanent disability. “Permanent
disability” means that you are unable to perform your duties by reason of any
medically determined physical or mental impairment which can be expected to result in
death or which has lasted or is expected to last for a continuous period of at least
12 months, as reasonably determined by the Compensation and Human Resources Committee
of the Board (the “Committee”) in their discretion.

5. Payment. Except as provided in paragraph 6, upon vesting of the RSU, you will be issued
shares of Common Stock equal to the number of shares vested, in settlement of the RSU (subject to
the withholding requirements described in paragraph 7 below, as applicable).

6. Deferral Election.

     (a) Initial Election. If you make a valid initial deferral election, then you can
elect to defer the timing of receipt of the Common Stock otherwise deliverable under
paragraph 5 to a later date. You may make a separate initial deferral election with respect to each one-fourth portion of your RSU award. However, the initial deferral
election must be made within 30 days of the Grant Date.

 

 

     (b) Subsequent Deferral Election. Under certain circumstances, you may make an
additional deferral election with respect to receipt of the Common Stock otherwise
deliverable. That second deferral election:

     (i) must be made at least twelve months prior to the scheduled delivery date;

     (ii) will not be effective for at least twelve months after you make it; and

     (iii) must postpone delivery for at least five (5) years but no more than ten (10)
years from the scheduled delivery date.
Notwithstanding any deferral election you make, all Common Stock will be delivered in
satisfaction of the RSU upon a Change in Control or within 30 days after your death.
Such deferral elections must comply with the requirements of Code Section 409A and
the Treasury Regulations or other guidance issued thereunder as well as any Plan
rules on deferrals.

     (c) Unforeseeable Emergencies. Notwithstanding your existing elections, in the
event you have an ‘unforeseeable emergency’ resulting in severe financial hardship to
you, you may elect to receive an earlier delivery of your vested shares in accordance
with the applicable rules.

     An “unforeseeable emergency” means your severe financial hardship resulting from (i)
an illness of yours, your spouse or your dependent, (ii) loss of your property due to
casualty or (iii) other similar extraordinary and unforeseeable circumstances arising
as a result of events beyond your control. The determination of whether you have an
unforeseeable emergency is made by the Committee, in its sole discretion.

To apply for such a withdrawal, you must file a request indicating the nature of the
unforeseeable emergency, the amount of your financial hardship as well as whether or
not the hardship may be relieved through insurance or through the disposition of
other assets.

     If the Committee determines that you qualify, then the shares to be delivered to you
cannot have a value in excess of the amount necessary to satisfy your hardship, plus
an amount necessary to pay taxes reasonably anticipated as a result of such
distribution. This must be approved by the Committee, in its sole discretion, after
taking into account the extent to which you could satisfy the hardship through
reimbursement or compensation by insurance or otherwise or by liquidation of your
assets and as otherwise required by law.

7. Withholding. The Company has the authority to deduct or withhold, or require you to remit to
the Company, an amount sufficient to satisfy applicable Federal, state, local and foreign taxes
(including any FICA obligation) required by law to be withheld with respect to any taxable event
arising from the receipt of the shares of Common Stock upon settlement of the RSU. At any time
not less than five (5) business days before any such tax withholding obligation arises, you may
satisfy your tax obligation, in whole or in part, by either: (i) electing to have the Company
withhold cash payable or shares otherwise to be delivered with a Fair Market Value equal to the
minimum amount of the tax withholding obligation, or (ii) paying the amount of the tax
withholding obligation directly to the Company in cash. Unless you choose to satisfy your tax
withholding obligation in accordance with subsection (ii) above, your tax withholding obligation
will be automatically satisfied in accordance with subsection
(i) above. The Committee or the Board will have the right to disapprove an election to pay your

 

 

tax withholding obligation under
subsection (ii) in its sole discretion. In the event your tax withholding obligation will be
satisfied under subsection (i) above, then the Company, upon approval of the Committee or the
Board, may elect (in lieu of withholding shares) to instruct any brokerage firm determined
acceptable to the Company for such purpose to sell on your behalf a whole number of shares from
those shares of the RSU issuable to you as the Company determines to be appropriate to generate
cash proceeds sufficient to satisfy your tax withholding obligation. Your acceptance of this RSU
award constitutes your instruction and authorization to the Company and such brokerage firm to
complete the transactions described in the previous sentence, as applicable. Such shares will be
sold on the day the tax withholding obligation arises (i.e., a date Common Stock is delivered) or
as soon thereafter as practicable. The shares may be sold as part of a block trade with other
participants of the Plan in which all participants receive an average price. You will be
responsible for all broker’s fees and other costs of sale, and you agree to indemnify and hold
the Company harmless from any losses, costs, damages, or expenses relating to any such sale. To
the extent the proceeds of such sale exceed your tax withholding obligation, the Company agrees
to pay such excess in cash to you as soon as practicable. You acknowledge that the Company or its
designee is under no obligation to arrange for such sale at any particular price, and that the
proceeds of any such sale may not be sufficient to satisfy your tax withholding obligation. The
Company may refuse to issue any Common Stock in settlement of your RSU award to you until your
tax withholding obligations are satisfied. To the maximum extent permitted by law, the Company
has the right to retain without notice from shares issuable under the RSU award or from salary
payable to you, shares or cash having a value sufficient to satisfy your tax withholding
obligation.

8. No Effect on Employment. Nothing in the Plan or this Agreement shall be interpreted to
interfere with or limit in any way the right of the Company or any Subsidiary to terminate your
employment or services at any time, nor confer upon you the right to continue in the employ or
service of the Company or any Subsidiary.

9. Plan Governs. This RSU Award is granted under and governed by the terms and conditions of
the Plan. You acknowledge and agree that the Plan has been introduced voluntarily by the Company
and in accordance with its terms it may be amended, cancelled, or terminated by the Company, in
its sole discretion, at any time. The grant of RSU under the Plan is a one-time benefit and does
not create any contractual or other right to receive an award of RSU or benefits in lieu of RSU
in the future. Future awards of RSU, if any, will be at the sole discretion of the Company,
including, but not limited to, the timing of the award, the number of shares and vesting
provisions. By execution of this Agreement, you consent to the provisions of the Plan and this
Agreement. Defined terms used herein shall have the meaning set forth in the Plan, unless
otherwise defined herein.

10. Amendment. The Committee may amend, terminate or revoke this Agreement in any respect to
the extent determined necessary or desirable by the Committee in its discretion to comply with
the requirements of Section 409A of the Code and the Treasury Regulations or other guidance
issued thereunder. You expressly understand and agree that no additional consent from you shall
be required in connection with such amendment, termination or revocation.

VIASAT, INC.

	 	 	 	 	 
	By:

	 	 
	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	Its:

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