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RESTRICTED STOCK UNIT GRANT NOTICE
UNDER THE 
US FOODS HOLDING CORP. 2019 LONG-TERM INCENTIVE PLAN
(Performance-Based Restricted Stock Unit Award)
US Foods Holding Corp. (the “Company”), pursuant to the US Foods Holding Corp. 2019 Long-Term Incentive Plan (the “Plan”), hereby grants to the Participant set forth below the target number of Restricted Stock Units set forth below.  The Restricted Stock Units are subject to all of the terms and conditions as set forth herein, in the Restricted Stock Unit Agreement (attached hereto), and in the Plan, all of which are incorporated herein in their entirety. Capitalized terms not otherwise defined herein shall have the meaning set forth in the Plan.
						
	Participant:	[Insert Participant Name]
	Date of Grant:	[Insert Grant Date]
	Performance Period:	The four-year period beginning on the Date of Grant
	Threshold Award:	[Insert Threshold No. of Restricted Stock Units Granted]
	Target Award:	[Insert Target No. of Restricted Stock Units Granted]
	Maximum Award:	[Insert Maximum No. of Restricted Stock Units Granted]
	Vesting Schedule:	
	

Except as otherwise provided in the Plan, the Restricted Stock Unit Agreement or any other agreement between the Company or any of its Subsidiaries and the Participant, the Restricted Stock Units shall vest based on the achievement of the performance goals set forth in this Grant Notice (the “Performance Goals”) over the Measurement Period (as defined below) and subject to the Participant’s continued service through the fourth anniversary of the Date of Grant (the “Vesting Date”), provided, however, that the Restricted Stock Units shall vest based on the achievement of the Performance Goals over the Measurement Period in the following circumstances:
(i)immediately prior to a Change in Control if the Restricted Stock Units would not otherwise be continued, converted, assumed, or replaced by the Company, a member of the Company Group or a successor entity thereto, or provided such other treatment as determined by the Committee; 
(ii)if the Participant undergoes a Termination by the Service Recipient without Cause or by the Participant for Good Reason (as defined in the Restricted Stock Unit Agreement) within the eighteen (18)-month period immediately following a Change in Control in which the Restricted Stock Units are continued, converted, assumed, or replaced by the Company, a member of the Company Group or a successor entity thereto;
(iii)if the Participant undergoes a Termination prior to the Vesting Date as a result of such Participant’s death or Disability; or
(iv)if the Participant undergoes a Termination by the Service Recipient without Cause or by the Participant for Good Reason, in each case following the third anniversary of the Date of Grant and prior to the Vesting Date, and such Termination is not within the eighteen (18)-month period immediately following a Change in Control (a “Non-CIC Qualifying Termination”), provided, however, that the number of Restricted Stock Units that shall vest in such circumstance shall be equal to seventy-five percent (75%) of the number of Restricted Stock Units that would have vested based on the achievement of the Performance Goals over the Measurement Period.

Performance Goals:

1.Absolute TSR Performance Goals

Subject to the terms of the Restricted Stock Unit Agreement and the Plan, the Restricted Stock Units shall vest based on the product of the Target Award and the Absolute TSR Payout Percentage, rounded up to the nearest whole number, with the Absolute TSR Payout Percentage determined as set forth in the table below based on the Performance Goal that is achieved.  A Performance Goal shall be deemed achieved if the Absolute TSR equals or exceeds such Performance Goal on any 30 consecutive trading days during the Measurement Period.
									
		Performance Goal	Absolute TSR Payout Percentage
	Below Threshold	>30%	0%
	Threshold	30%	50%
	Target	60%	100%
	Maximum	90%	150%

2.Performance Between Performance Goals
If the level of achievement of Absolute TSR falls between any two of the Performance Goals , the Absolute TSR Payout Percentage will be determined based on the lower of such Performance Goals.  For the avoidance of doubt, in no event may the Absolute TSR Payout Percentage exceed 150%.   
3.Definitions
a.“Absolute TSR” means the internal rate of return to a holder of shares of Common Stock from the Initial Share Price to the closing price of a share of Common Stock on any applicable date (expressed as a percentage), inclusive of dividends and other distributions and adjusted for stock splits or similar changes in capital structure (as reported by Bloomberg L.P. or another recognized source).  
b.“Initial Share Price” means the closing price of a share of Common Stock on the New York Stock Exchange on the Grant Date.
c.“Measurement Period” shall mean the Performance Period; provided, however, that (i) if there is a Change in Control prior to the Vesting Date, the Measurement Period will instead end on the date of the Change in Control and (ii) if, prior to a Change in Control, the Participant undergoes a Termination prior to the Vesting Date as a result of such Participant’s death or Disability or as a result of a Non-CIC Qualifying Termination, the Measurement Period will instead end on the date of such Termination. 

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THE UNDERSIGNED PARTICIPANT ACKNOWLEDGES RECEIPT OF THIS RESTRICTED STOCK UNIT GRANT NOTICE, THE RESTRICTED STOCK UNIT AGREEMENT AND THE PLAN, AND, AS AN EXPRESS CONDITION TO THE GRANT OF RESTRICTED STOCK UNITS HEREUNDER, AGREES TO BE BOUND BY THE TERMS OF THIS RESTRICTED STOCK UNIT GRANT NOTICE, THE RESTRICTED STOCK UNIT AGREEMENT AND THE PLAN.
															
	US FOODS HOLDING CORP.     
		PARTICIPANT1

	By:				
	Name:	David Works			
	Title:	Executive Vice President,			
		Chief Human Resources Officer			
					
					
					
					
					

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1 To the extent that the Company has established, either itself or through a third-party plan administrator, the ability to accept this award electronically, such acceptance shall constitute the Participant’s signature hereof

RESTRICTED STOCK UNIT AGREEMENT
UNDER THE
US FOODS HOLDING CORP. 2019 LONG-TERM INCENTIVE PLAN
Pursuant to the Restricted Stock Unit Grant Notice (the “Grant Notice”) delivered to the Participant (as defined in the Grant Notice), and subject to the terms of this Restricted Stock Unit Agreement (this “Restricted Stock Unit Agreement”) and the US Foods Holding Corp. 2019 Long-Term Incentive Plan (the “Plan”), US Foods Holding Corp. (the “Company”) and the Participant agree as follows.  Capitalized terms not otherwise defined herein shall have the same meaning as set forth in the Plan or the Grant Notice.
1.Grant of Restricted Stock Units.  The Company hereby grants to the Participant the target number of Restricted Stock Units provided in the Grant Notice. 
2.Vesting.  Subject to the terms and conditions set forth in the Grant Notice, this Restricted Stock Unit Agreement and the Plan, the Restricted Stock Units shall vest based on (i) the achievement of the Performance Goals set forth in the Grant Notice during the Measurement Period set forth in the Grant Notice and (ii) except as otherwise provided in the Grant Notice, the Participant’s continuous employment through the Vesting Date.  Attainment of the Performance Goals shall be determined and certified by the Committee in writing prior to the vesting of the Restricted Stock Units; provided that, in the event the Restricted Stock Units vest in connection with the Participant’s Termination, as contemplated by the Grant Notice, such determination and certification shall occur no later than sixty (60) days following such Termination.
3.Settlement of Restricted Stock Units.  The provisions of Section 9(d)(ii) of the Plan are incorporated herein by reference and made a part hereof, provided that the Restricted Stock Units shall be settled in Common Stock within sixty (60) days following the Vesting Date or, if earlier, (a) within sixty (60) days following a Change in Control, (b) if the Restricted Stock Units vest in connection with the Participant’s Termination other than as a result of a Non-CIC Qualifying Termination, as contemplated by the Grant Notice, within sixty (60) days following the Participant’s Termination and subject to Section 13(u) of the Plan, to the extent applicable, or (c) if the Restricted Stock Units vest in connection with the Participant’s Termination as a result of a Non-CIC Qualifying Termination, as contemplated by the Grant Notice, prior to the year in which the Vesting Date occurs, no later than March 15 of the year following the year in which such Non-CIC Qualifying Termination occurs and subject to Section 13(u) of the Plan, to the extent applicable; provided, further, that if the Change in Control does not satisfy the conditions specified in Section 13(u)(iii) of the Plan to the extent applicable or as otherwise required by Section 409A of the Code, then upon a Change in Control pursuant to which the vesting is accelerated in accordance with the Grant Notice, the Restricted Stock Units shall be settled within sixty (60) days following the Vesting Date or, if earlier, the Participant’s Termination, to the extent required by Section 409A of the Code.
4.Treatment of Restricted Stock Units upon Termination.  The provisions of Section 9(c)(ii) of the Plan are incorporated herein by reference and made a part hereof.
5.Definitions.
(a)The term “Company” as used in this Restricted Stock Unit Agreement with reference to the Participant’s employment and the definitions herein shall include the Company and its Subsidiaries.

(b)The term “Good Reason” as used in the Grant Notice or in this Restricted Stock Unit Agreement shall, in the case of any Participant who is party to an employment, service or similar agreement between the Participant and the Company that contains a definition of “Good Reason”, mean and refer to the definition set forth in such agreement, and in the case of any other Participant, “Good Reason” shall mean: (A) a material diminution in the Participant’s base salary or annual bonus opportunity; (B) any material diminution in the Participant’s authority, duties or responsibilities; or (C) the relocation of the Participant’s principal work location by more than fifty (50) miles; provided that none of these events shall constitute Good Reason unless the Company fails to cure such event within thirty (30) days after receipt from the Participant of written notice of the event which constitutes Good Reason; provided, further, that “Good Reason” shall cease to exist for an event on the sixtieth (60th) day following the later of its occurrence or the Participant’s knowledge thereof, unless the Participant has given the Company written notice thereof prior to such date.  Notwithstanding anything herein to the contrary, for purposes of the last proviso of the immediately foregoing sentence, a series of related events shall be deemed to have occurred on the date upon which the last event in such series of related events has occurred. In the event of the Participant’s Termination due to Good Reason, such Termination must occur within sixty (60) days following the expiration of the Company cure period described above. 
(c)Whenever the word “Participant” is used in any provision of this Restricted Stock Unit Agreement under circumstances where the provision should logically be construed to apply to the executors, the administrators, or the person or persons to whom the Restricted Stock Units may be transferred by will or by the laws of descent and distribution, the word “Participant” shall be deemed to include such person or persons.
6.Non-Transferability.  The Restricted Stock Units are not transferable by the Participant except to Permitted Transferees in accordance with Section 13(b) of the Plan.  Except as otherwise provided herein, no assignment or transfer of the Restricted Stock Units, or of the rights represented thereby, whether voluntary or involuntary, by operation of law or otherwise, shall vest in the assignee or transferee any interest or right herein whatsoever, but immediately upon such assignment or transfer the Restricted Stock Units shall terminate and become of no further effect.
7.Dividend Equivalent Payments.  The Participant shall be eligible to receive dividend equivalents pursuant to the provisions of Sections 9(d)(ii) and 13(c) of the Plan.
8.Tax Withholding.  The provisions of Section 13(d)(i) of the Plan are incorporated herein by reference and made a part hereof.  The Participant shall satisfy such Participant’s withholding liability referred to in Section 13(d)(i) of the Plan by having the Company withhold from the number of shares of Common Stock otherwise issuable or deliverable pursuant to the settlement of the Award a number of shares with a Fair Market Value equal to such withholding liability, provided that the number of such shares may not have a Fair Market Value greater than the minimum required statutory withholding liability unless the Participant elects a higher withholding rate and the Committee determines that such higher withholding rate will not result in adverse accounting consequences.  
9.Notice.  Every notice or other communication relating to this Restricted Stock Unit Agreement between the Company and the Participant shall be in writing, and shall be mailed to or delivered to the party for whom it is intended at such address as may from time to time be designated by such party in a notice mailed or delivered to the other party as herein provided; provided that, unless and until some other address be so designated, all notices or communications by the Participant to the 

Company shall be mailed or delivered to the Company at its principal executive office, to the attention of the Company Secretary, and all notices or communications by the Company to the Participant may be given to the Participant personally or may be mailed to the Participant at the Participant’s last known address, as reflected in the Company’s records.  Notwithstanding the above, all notices and communications between the Participant and any third-party plan administrator shall be mailed, delivered, transmitted or sent in accordance with the procedures established by such third-party plan administrator and communicated to the Participant from time to time.
10.No Right to Continued Service.  This Restricted Stock Unit Agreement does not confer upon the Participant any right to continue as an employee or service provider to the Company.
11.Binding Effect.  This Restricted Stock Unit Agreement shall be binding upon the heirs, executors, administrators and successors of the parties hereto.
12.Waiver and Amendments.  Except as otherwise set forth in Section 12 of the Plan, any waiver, alteration, amendment or modification of any of the terms of this Restricted Stock Unit Agreement shall be valid only if made in writing and signed by the parties hereto; provided, however, that any such waiver, alteration, amendment or modification is consented to on the Company’s behalf by the Committee.  No waiver by either of the parties hereto of their rights hereunder shall be deemed to constitute a waiver with respect to any subsequent occurrences or transactions hereunder unless such waiver specifically states that it is to be construed as a continuing waiver.
13.Governing Law.  This Restricted Stock Unit Agreement shall be construed and interpreted in accordance with the laws of the State of Delaware, without regard to the principles of conflicts of law thereof.  Notwithstanding anything contained in this Restricted Stock Unit Agreement, the Grant Notice or the Plan to the contrary, if any suit or claim is instituted by the Participant or the Company relating to this Restricted Stock Unit Agreement, the Grant Notice or the Plan, the Participant hereby submits to the exclusive jurisdiction of and venue in the courts of Delaware.
14.Plan.  The terms and provisions of the Plan are incorporated herein by reference.  In the event of a conflict or inconsistency between the terms and provisions of the Plan and the provisions of this Restricted Stock Unit Agreement, the Plan shall govern and control.
15.Compliance With Section 409A of the Code.  The Award governed hereby is intended to be exempt from or comply with Section 409A of the Code, and shall be interpreted and construed accordingly.  To the extent this Restricted Stock Unit Agreement provides for the Award to become vested and be settled upon the Participant’s Termination, the applicable shares of Common Stock shall be transferred to the Participant or his or her beneficiary upon the Participant’s “separation from service,” within the meaning of Section 409A of the Code; provided that if the Participant is a “specified employee,” within the meaning of Section 409A of the Code, then to the extent the Award constitutes nonqualified deferred compensation, within the meaning of Section 409A of the Code, such shares of Common Stock shall be transferred to the Participant or his or her beneficiary upon the earlier to occur of (i) the six (6)-month anniversary of such separation from service and (ii) the date of the Participant’s death.Document

Exhibit 10.1

THE HOWARD HUGHES CORPORATION
TIME-BASED RESTRICTED STOCK AWARD AGREEMENT
This Time-Based Restricted Stock Award Agreement (this “Agreement”), dated as of <INSERT DATE>, is entered into by and between The Howard Hughes Corporation, a Delaware corporation (and it successors, the “Company”), and <INSERT GRANTEE NAME> (“Grantee”).  Capitalized terms used herein but not otherwise defined shall have the meanings assigned to those terms in the Company’s 2020 Equity Incentive Plan, as may be amended from time to time (the “Plan”). 

WHEREAS, Grantee is an eligible Participant under the Plan; and

WHEREAS, the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”) has authorized this grant of restricted stock or has otherwise properly delegated the authority to grant restricted stock to the Chief Executive Officer in accordance with the terms of the Plan.

NOW, THEREFORE, the Company and Grantee hereby agree as follows:

1.Grant of Restricted Shares. The Company hereby grants to Grantee, effective as of the <INSERT GRANT DATE> (the “Date of Grant”), the right to receive <INSERT QUANTITY GRANTED> shares of the Company’s common stock, par value $0.01 per share (the “Restricted Shares”).  This Agreement constitutes an Award Agreement under the Plan. 

2.Rights of Grantee.  The Restricted Shares subject to this grant shall be fully paid and nonassessable and shall be either: (i) represented by certificates held in custody by the Company until all restrictions thereon have lapsed, together with a stock power or powers executed by Grantee in whose name such certificates are registered, endorsed in blank and covering such Restricted Shares; or (ii) held at the Company’s transfer agent in book entry form with appropriate restrictions relating to the transfer of such Restricted Shares, and endorsed with an appropriate legend referring to the restrictions hereinafter set forth. Grantee shall have the right to vote the Restricted Shares. Upon vesting of the Restricted Shares hereunder, the Grantee: (x) shall receive cash dividends or cash distributions, if any, paid or made by the Company with respect to common shares after the Date of Grant and prior to the vesting of the Restricted Stock; and (y) shall receive any additional Restricted Shares that Grantee may become entitled to receive by virtue of a Restricted Share dividend, a merger or reorganization in which the Company is the surviving corporation or any other change in the capital structure of the Company.

3.Restrictions on Transfer of Restricted Shares. The Restricted Shares subject to this grant may not be assigned, exchanged, pledged, sold, transferred or otherwise disposed of by Grantee, except to the Company, until the Restricted Shares have become nonforfeitable in accordance with Sections 3 and 4 hereof. The Grantee’s rights with respect to such purported transfer in violation of the provisions of this Section 3 of this Agreement shall be null and void, and the purported transferee shall obtain no rights with respect to such Restricted Shares.

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4.Vesting of Restricted Shares. Subject to the terms and conditions of Sections 4 and 5  of this Agreement and the applicable provisions of that certain Employment Agreement, dated as of <INSERT DATE> (as amended, the “Employment Agreement”), by and between the Company and the Grantee, the Restricted Shares covered by this Agreement shall vest ratably over a <five-year> period, with <20%> of the Restricted Shares vesting on each of <INSERT VESTING DATES>. 

5.Forfeiture of Awards; Retirement.  Except as otherwise set forth in the Employment Agreement, Grantee’s rights to receive the unvested Restricted Shares covered by this Agreement shall be forfeited automatically and without further notice on the date that Grantee ceases to be a Participant under the Plan. If Grantee ceases to be a Participant due to his retirement prior to the vesting of all Restricted Shares, then all unvested Restricted Shares shall be forfeited pursuant to this Section 5 unless the Committee has approved, in its sole discretion, the accelerated vesting of all or any portion of the unvested Restricted Shares in connection with Grantee’s retirement.

6.Compliance with Law. The Company shall make reasonable efforts to comply with all applicable federal and state securities laws; provided, however, that notwithstanding any other provision of this Agreement, the Company shall not be obligated to issue any of the Restricted Shares covered by this Agreement if the issuance thereof would result in violation of any such law.

7.Compliance with Section 409A of the Code. To the extent applicable, it is intended that this Agreement and the Plan comply with the provisions of Section 409A of the Code, so that the income inclusion provisions of Section 409A(a)(1) of the Code do not apply to Grantee. This Agreement and the Plan shall be administered in a manner consistent with this intent. Reference to Section 409A of the Code is to Section 409A of the Internal Revenue Code of 1986, as amended, and will also include any proposed, temporary or final regulations, or any other guidance promulgated with respect to such Section by the U.S. Department of the Treasury or the Internal Revenue Service.

8.Amendments. Any amendment to the Plan shall be deemed to be an amendment to this Agreement to the extent that the amendment is applicable hereto; provided, however, that no amendment shall adversely affect the rights of Grantee under this Agreement without Grantee’s consent; further, provided, that Grantee’s consent shall not be required to an amendment that is deemed necessary by the Company to ensure compliance with Section 409A of the Code or the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 or any regulations promulgated thereunder, including as a result of the implementation of any recoupment policy the Company adopts to comply with the requirements set forth in the Dodd-Frank Act.

9.Severability. In the event that one or more of the provisions of this Agreement shall be invalidated for any reason by a court of competent jurisdiction, any provision so invalidated shall be deemed to be separable from the other provisions hereof, and the remaining provisions hereof shall continue to be valid and fully enforceable.

10.Relation to Plan. This Agreement is subject to the terms and conditions of the Plan. In the event of any inconsistency between the provisions of this Agreement and the Plan, the Plan shall govern. Capitalized terms used herein without definition shall have the meanings assigned to them in the Plan. The Compensation Committee acting pursuant to the Plan, as constituted from time to time, shall, except as expressly provided otherwise herein or in the plan, have the right to determine any questions which arise in connection with the grant of Restricted Shares.

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11.Successors and Assigns. Without limiting Section 3 hereof, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the successors, administrators, heirs, legal representatives and assigns of Grantee, and the successors and assigns of the Company.

12.Governing Law. This Agreement is made under, and shall be construed in accordance with, the internal substantive laws of the State of Delaware without giving effect to the principles of conflict of laws thereof.

[Remainder of Page Intentionally Left Blank, Signature Page to Follow]
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Executed in the name and on behalf of the Company to be effective on the date first written above.

												
			THE HOWARD HUGHES CORPORATION
	 	 	By:	
	 	 	Name: 	David O'Reilly
	 	 	Title  	Chief Executive Officer
	 	 	 	

The undersigned Grantee hereby acknowledges receipt of an executed original of this Agreement and accepts the right to receive the Restricted Shares or other securities covered hereby, subject to the terms and conditions of the Plan and the terms and conditions herein above set forth.

									
			
	 	 	
	 	 	<INSERT GRANTEE NAME> (Grantee)
			
		Acceptance Date:	

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