Document:

Exhibit
10.4

 

SUPERMEDIA INC.

 

DIRECTOR RESTRICTED STOCK AWARD AGREEMENT

 

<<Full Name>>

Grantee

 

	
  Date of Award:

  	
   

  	
  March 12, 2010

  
	
  Number of Shares:

  	
   

  	
  1,843

  
	
  General
  Vesting Schedule/Restricted Period:

  	
   

  	
  100%
  vested on December 31, 2010

  

 

AWARD OF RESTRICTED STOCK

 

1.                                      GRANT
OF RESTRICTED STOCK AWARD. 
SuperMedia Inc., a Delaware corporation (the “Company”), pursuant to the SuperMedia Inc.
2009 Long-Term Incentive Plan (the “Plan”),
hereby awards to you, the above-named Grantee, effective as of the Date of
Award set forth above (the “Date of Award”),
that number of shares (the “Shares”)
of the Company’s Stock, set forth above as Restricted Stock on the following
terms and conditions:

 

During
the Restricted Period, the Shares of Restricted Stock will be evidenced by
entries in the stock register of the Company reflecting that such Shares of
Restricted Stock have been issued in your name. 
For purposes of this Agreement, the term “Restricted Period” means the period designated by the
Committee during which the Shares may not be sold, assigned, transferred,
pledged, or otherwise encumbered.

 

The
Shares that are awarded hereby to you as Restricted Stock shall be subject to
the prohibitions and restrictions set forth herein with respect to the sale or
other disposition of such Shares and the obligation to forfeit and surrender
such Shares to the Company (the “Forfeiture
Restrictions”).  The
Restricted Period and all Forfeiture Restrictions on the Restricted Stock
covered hereby shall lapse as to those Shares when the Shares become vested and
you meet all other terms and conditions of this Agreement.

 

2.                                      TERMINATION OF MEMBERSHIP/CHANGE IN CONTROL.  The following provisions will
apply in the event you cease to be a member of the Board of Directors of the
Company (the “Board”), or a Change in Control
of the Company occurs, before December 31, 2010 (the “Vesting Date”) under the Agreement:

 

2.1           Termination
Generally.  Except as
specified in Section 2.2 below, if you cease to be a member of the Board before
the Vesting Date, the Forfeiture Restrictions then applicable to the Shares of
Restricted Stock not lapse and the number of Shares of Restricted Stock then
subject to the Forfeiture Restrictions shall be forfeited to the Company on the
date you cease to be a member of the Board.

 

2.2           Change in
Control.  If a Change in Control of the
Company occurs on or before the Vesting Date while you are an active member of
the Board, then all remaining Forfeiture Restrictions shall immediately lapse
on the effective date of the Change in Control of the Company.

 

3.                                      NONTRANSFERABILITY.  Notwithstanding anything in
this Agreement to the contrary and except as specified below, the Shares of
Restricted Stock awarded to you under this Agreement shall not be transferable
or assignable by you other than by will or the laws of descent and distribution
to the extent then subject to Forfeiture Restrictions.  You may transfer the Shares to (a) a member
or members of 

 

 

your immediate family, (b) to a revocable living trust established
exclusively for you or you and your spouse, (c) a trust under which your
immediate family members are the only beneficiaries or (d) a partnership of
which your immediate family members are the only partners.  For this purpose, “immediate family” means
your spouse, children, stepchildren, grandchildren, parents, grandparents,
siblings (including half brothers and sisters), and individuals who are family
members by adoption.

 

The terms applicable to the assigned Shares
shall be the same as those in effect for the Shares immediately prior to such
assignment and shall be set forth in such documents to be executed by the
assignee as the Committee may deem appropriate. 
You may also designate one or more persons as the beneficiary or
beneficiaries of your Shares of Restricted Stock under the Plan, and those
Shares shall, in accordance with such designation, automatically be transferred
to such beneficiary or beneficiaries upon your death while holding those
Shares. Such beneficiary or beneficiaries shall take the transferred Shares of
Restricted Stock subject to all the terms and conditions of the Agreement.
Except for the limited transferability provided by the foregoing, outstanding
Shares of Restricted Stock under the Plan shall not be assignable or
transferable to the extent then subject to Forfeiture Restrictions.

 

None of the Company, its
employees or directors makes any representations or guarantees concerning the
tax consequences associated with the inclusion of this provision in the
Agreement or your transfer of the Shares of Restricted Stock.  It is your sole responsibility to seek advice from your own tax
advisors concerning those tax consequences. 
You are entitled to rely upon only the tax advice of your own tax
advisors.

 

4.                                      SALE
OF SECURITIES.  Shares awarded hereby that are no longer
subject to Forfeiture Restrictions may not be sold or otherwise disposed of in
any manner that would constitute a violation of any applicable federal or state
securities laws.  You also agree that (a)
the Company may refuse to cause the transfer of the Shares to be registered on
the stock register of the Company if such proposed transfer would in the
opinion of counsel satisfactory to the Company constitute a violation of any
applicable federal or state securities law and (b) the Company may give related
instructions to the transfer agent, if any, to stop registration of the
transfer of the Shares.

 

5.                                      CAPITAL ADJUSTMENTS AND REORGANIZATIONS.  The existence of the Shares of
Restricted Stock shall not affect in any way the right or power of the Company
or any company the stock of which is awarded pursuant to this Agreement to make
or authorize any adjustment, recapitalization, reorganization or other change
in its capital structure or its business, engage in any merger or
consolidation, issue any debt or equity securities, dissolve or liquidate, or
sell, lease, exchange or otherwise dispose of all or any part of its assets or
business, or engage in any other corporate act or proceeding.

 

6.                                      RIGHTS REGARDING DISTRIBUTIONS MADE BY THE COMPANY DURING THE RESTRICTED
PERIOD.  During the Restricted Period, (a) any
securities of the Company distributed by the Company in respect of the Shares
of Restricted Stock will be evidenced by entries in the appropriate securities
register of the Company reflecting that such securities of the Company, if any,
have been issued in your name (the “Retained
Company Securities”) and (b) any securities of any company other
than the Company or any other property (other than regular cash dividends)
distributed by the Company in respect of the Shares of Restricted Stock will be
evidenced in your name by such certificates or in such other manner as the
Company determines (the “Retained Other
Securities and Property”) and may bear a restrictive legend to the
effect that ownership of such Retained Other Securities and Property and the
enjoyment of all rights appurtenant thereto, are subject to the restrictions,
terms, and conditions provided in the Plan and this Agreement.  The Retained Company Securities and the
Retained Other Securities and Property (collectively, the “Retained Distributions”) 

 

2

 

shall be subject to the same restrictions, terms and conditions as are
applicable to the Shares of Restricted Stock.

 

7.                                      RIGHTS WITH RESPECT TO SHARES OF RESTRICTED STOCK AND RETAINED
DISTRIBUTIONS DURING RESTRICTED PERIOD.  You shall have the right to vote the Shares
of Restricted Stock awarded to you and to receive and retain all regular cash
dividends (which will be paid currently and in no case later than the end of
the calendar year in which the dividends are paid to the holders of the Stock
or, if later, the 15th day of the third month following the date the dividends
are paid to the holders of the Stock), and to exercise all other rights, powers
and privileges of a holder of the Stock, with respect to such Shares of
Restricted Stock, with the exception that (a) you shall not be entitled to have
custody of such Shares of Restricted Stock until the Forfeiture Restrictions
applicable thereto shall have lapsed, (b) the Company shall retain custody of
all Retained Distributions made or declared with respect to the Shares of
Restricted Stock until such time, if ever, as the Forfeiture Restrictions
applicable to the Shares of Restricted Stock with respect to which such
Retained Distributions shall have been made, paid, or declared shall have
lapsed, and such Retained Distributions shall not bear interest or be
segregated in separate accounts and (c) you may not sell, assign, transfer, pledge,
exchange, encumber, or dispose of the Shares of Restricted Stock or any
Retained Distributions during the Restricted Period.  During the Restricted Period, the Company
may, in its sole discretion, issue certificates for some or all of the Shares
of Restricted Stock, in which case all such certificates shall be delivered to
the Corporate Secretary of the Company or to such other depository as may be
designated by the Committee as a depository for safekeeping until the
forfeiture of such Shares of Restricted Stock occurs or the Forfeiture
Restrictions lapse.  When requested by
the Company, you shall execute such stock powers or other instruments of
assignment as the Company requests relating to transfer to the Company of all
or any portion of such Shares of Restricted Stock and any Retained
Distributions that are forfeited in accordance with the Plan and this
Agreement.

 

8.                                      SECURITIES ACT LEGEND.  If you are an officer or affiliate of the
Company under the Securities Act of 1933, you consent to the placing on any
certificate for the Shares of an appropriate legend restricting resale or other
transfer of the Shares except in accordance with such Act and all applicable rules
thereunder.

 

9.                                      REGISTRATION.  The Shares that may be issued under the Plan
are registered with the Securities and Exchange Commission under a Registration
Statement on Form S-8.

 

10.                               LIMIT OF LIABILITY.  Under no circumstances will the Company or
any Affiliate be liable for any indirect, incidental, consequential or special
damages (including lost profits) of any form incurred by any person, whether or
not foreseeable and regardless of the form of the act in which such a claim may
be brought, with respect to the Plan.

 

11.                               MISCELLANEOUS.  This Agreement is awarded pursuant to and is
subject to all of the provisions of the Plan, including amendments to the Plan,
if any.  In the event of a conflict
between this Agreement and the Plan provisions, the Plan provisions will
control.  The term “you” and “your”
refer to the Grantee named in this Agreement. 
Capitalized terms that are not defined herein shall have the meanings
ascribed to such terms in the Plan.

 

3

 

In accepting the award of Shares of Restricted Stock set forth in this
Agreement you accept and agree to be bound by all the terms and conditions of
the Plan and this Agreement.

 

 

	
   

  	
  SUPERMEDIA
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  

 

4Exhibit
10.5

 

SUPERMEDIA INC.

 

DIRECTOR STOCK-SETTLED

RESTRICTED STOCK UNIT AWARD AGREEMENT

 

<< Full Name>>

Grantee

 

	
  Date of Award:

  	
   

  	
  March 12, 2010

  
	
  Number of Restricted Stock Units:

  	
   

  	
  1,317

  
	
  Expiration Date:

  	
   

  	
  <<                            >>

  
	
  General
  Vesting Schedule/Restricted Period:

  	
   

  	
  Three
  (3) years, with vesting in equal installments of one-third (1/3) on the
  anniversary date of the Date of Award in each of the years.

  

 

AWARD OF RESTRICTED
STOCK UNITS

 

1.                                      GRANT
OF RSU AWARD.  SuperMedia Inc., a Delaware corporation (the “Company”), pursuant to the SuperMedia Inc.
2009 Long-Term Incentive Plan (the “Plan”),
hereby awards to you, the above-named Grantee, effective as of the Date of
Award set forth above (the “Date of Award”),
that number of restricted stock units set forth above (the “RSUs”), on the following terms and
conditions:

 

During the Restricted Period, the RSUs will be
evidenced by entries in a bookkeeping ledger account which reflects the number
of RSUs credited under the Plan for your benefit.  For purposes of this Agreement, the term “Restricted Period” means the period
designated by the Committee during which the RSUs are subject to forfeiture and
restrictions on transfer (the “Forfeiture Restrictions”).  The Restricted Period and all Forfeiture
Restrictions on the RSUs covered hereby shall lapse as to those RSUs when the
RSUs become vested and you meet all other terms and conditions of this
Agreement.

 

Upon the date on which you cease to be a member of the
Board of Directors of the Company for any reason while in good standing, the
Company shall issue to you one share of Stock, in exchange for each RSU for
which the Forfeiture Restrictions have lapsed and thereafter you shall have no
further rights with respect to such RSU. 
The Company shall cause to be delivered to you (or your legal
representative or heir) a stock certificate representing those shares of the
Stock issued in exchange for RSUs awarded hereby, and such shares of the Stock
shall be transferable by you (except to the extent that any proposed transfer
would, in the opinion of counsel satisfactory to the Company, constitute a
violation of applicable federal or state securities law).

 

2.                                      SEPARATION
FROM SERVICE/CHANGE IN CONTROL.  The following provisions will apply in the
event you incur a Separation from Service with the Company and all Affiliates
(collectively, the “Company Group”),
or a Change in Control of the Company occurs, before the Expiration Date set
forth in the Agreement:

 

2.1           Separation
from Service Generally.  Except as provided
in Section 2.2 below, if you incur a Separation from Service with the Company Group for any reason before
the third anniversary of the Date of Award (the “Third Anniversary Date”), the
Forfeiture Restrictions then applicable to the RSUs shall lapse on a prorated
basis by dividing the number of days during the period commencing on the
anniversary vesting date or Date of Award, as applicable, and ending on the
date of your Separation 

 

 

from Service by 1095 if the date of your
Separation from Service occurs prior to the first anniversary of the Date of
Award, 730 if the date of your Separation from Service occurs after the first
anniversary of the Date of Award but prior to the second Anniversary of the
Date of Award and 365 if the date of your Separation from Service occurs after
the second anniversary of the Date of Award but prior to the Third Anniversary
Date, and the number of RSUs remaining subject to the Forfeiture Restrictions
shall be forfeited to the Company on the date of your Separation from Service.

 

2.2           Change
in Control of the Company.  If a Change
in Control of the Company occurs before the Third Anniversary Date while you
are an active member of the Board, all remaining Forfeiture Restrictions shall
immediately lapse on the effective date of the Change in Control of the Company.

 

3.                                      DIVIDEND
EQUIVALENTS.  If during the Restricted Period you hold any
RSUs awarded hereby and the Company pays a dividend in cash with respect to the
outstanding shares of Stock (a “Cash
Dividend”) or a dividend in shares of Stock with respect to the
outstanding shares of the Stock, then the Company will increase the RSUs
awarded hereby that have not been exchanged by the Company for shares of Stock
by an amount equal to the product of (a) the RSUs awarded hereby that have not
been exchanged by the Company for cash and (b) the amount of the Cash Dividend
paid per share of the Stock or the number of shares of Stock paid by the
Company per share of the Stock, as applicable (collectively, the “Dividend RSUs”).  Each
Dividend RSU will be exchanged for shares of the Stock at the same time and on
the same basis as such RSU.

 

4.                                      NONTRANSFERABILITY.  Notwithstanding anything in this Agreement to
the contrary and except as specified below, the RSUs awarded to you under this
Agreement shall not be transferable or assignable by you other than by will or
the laws of descent and distribution. 
You may transfer the RSUs to (a) a member or members of your immediate
family, (b) to a revocable living trust established exclusively for you or you
and your spouse, (c) a trust under which your immediate family members are the
only beneficiaries or (d) a partnership of which your immediate family members
are the only partners.  For this purpose,
“immediate family” means your spouse, children, stepchildren, grandchildren,
parents, grandparents, siblings (including half brothers and sisters), and
individuals who are family members by adoption.

 

The terms applicable to the assigned RSUs
shall be the same as those in effect for the RSUs immediately prior to such
assignment and shall be set forth in such documents to be executed by the
assignee as the Company may deem appropriate. 
You may also designate one or more persons as the beneficiary or
beneficiaries of your outstanding RSUs under the Plan, and those RSUs shall, in
accordance with such designation, automatically be transferred to such
beneficiary or beneficiaries upon your death while holding those RSUs. Such
beneficiary or beneficiaries shall take the transferred RSUs subject to all the
terms and conditions of the Agreement. Except for the limited transferability
provided by the foregoing, outstanding RSUs under the Plan shall not be
assignable or transferable.

 

None of the Company, its
employees or directors makes any representations or guarantees concerning the
tax consequences associated with the inclusion of this provision in the
Agreement or your transfer of the RSUs. 
It is your sole responsibility to seek advice from your own tax advisors
concerning those tax consequences.  You
are entitled to rely upon only the tax advice of your own tax advisors.

 

5.                                      SALE
OF SECURITIES.  Any shares of Stock awarded hereunder may not
be sold or otherwise disposed of in any manner that would constitute a
violation of any applicable federal or state securities laws.  You agree that (a) the Company may refuse to
cause the transfer of such Shares to be registered on the stock register of the
Company if such proposed transfer would in the opinion of counsel satisfactory
to the Company constitute a violation of any applicable federal or state
securities law and 

 

2

 

(b) the Company may give related instructions
to the transfer agent, if any, to stop registration of the transfer of such
shares.

 

6.                                      SERVICE OR EMPLOYMENT RELATIONSHIP.  For purposes of this Agreement, you shall be
considered to be in the service of the Company Group as long as you have a
service or employment relationship with the Company Group.  The Committee shall determine any questions
as to whether and when there has been a termination of such service
relationship, and the cause of such termination, under the Plan and the
Committee’s determination shall be final and binding on all persons.

 

7.                                      NOT A SERVICE OR EMPLOYMENT AGREEMENT.  This Agreement is not a service or employment
agreement, and no provision of this Agreement shall be construed or interpreted
to create a service or employment relationship between you and the Company or
any of its Affiliates or guarantee the right to remain as a director of or
employed by the Company or any of its Affiliates for any specified term.

 

8.                                      SECURITIES ACT LEGEND.  If you are an officer or affiliate of the
Company under the Securities Act of 1933, you consent to the placing on any
certificate for the Shares of an appropriate legend restricting resale or other
transfer of the Shares except in accordance with such Act and all applicable rules
thereunder.

 

9.                                      REGISTRATION.  The Shares that may be issued under the Plan
are registered with the Securities and Exchange Commission under a Registration
Statement on Form S-8.

 

10.                               LIMIT OF LIABILITY.  Under no circumstances will the Company or
any Affiliate be liable for any indirect, incidental, consequential or special
damages (including lost profits) of any form incurred by any person, whether or
not foreseeable and regardless of the form of the act in which such a claim may
be brought, with respect to the Plan.

 

11.                               MISCELLANEOUS.  This Agreement is awarded pursuant to and is
subject to all of the provisions of the Plan, including amendments to the Plan,
if any.  In the event of a conflict
between this Agreement and the Plan provisions, the Plan provisions will
control.  The term “you” and “your”
refer to the Grantee named in this Agreement. 
Capitalized terms that are not defined herein shall have the meanings
ascribed to such terms in the Plan.

 

In accepting the award of RSUs set forth in this
Agreement you accept and agree to be bound by all the terms and conditions of
the Plan.

 

 

	
   

  	
  SUPERMEDIA
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  

 

3

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