Document:

Exhibit 10.1 2014.02.03 8-K

Exhibit 10.1
2012 PLUM CREEK TIMBER COMPANY, INC. STOCK INCENTIVE PLAN 
2014 AWARD AGREEMENT 

This AWARD AGREEMENT made as of the 3rd day of February 2014 (the “Agreement”), between Plum Creek Timber Company, Inc., a Delaware corporation (the “Company”), and Mr. Rick R. Holley, an employee of Plum Creek Timberlands, L.P., a subsidiary of the Company (“Employee”). In recognition of the important contributions that Employee makes to the success of the Company, and in consideration of the mutual agreements and other matters set forth herein and in the 2012 Plum Creek Timber Company, Inc. Stock Incentive Plan, as the same may be amended from time to time (the “Plan”), which Plan is incorporated herein by reference as a part of this Agreement, the Company hereby grants to Employee under the Plan the following long-term incentive awards on the terms and conditions set forth below. 
A. Definitions. Capitalized terms used herein, unless otherwise defined herein, shall have the meanings ascribed to such terms in the Plan. The following definitions will apply for purposes of this Agreement: 
  
	
			
	 
	1.
	“Award” means an Award of Restricted Stock Units granted hereunder and under the Plan. 

  
	
			
	 
	2.
	“Grant Date” means the date of this Agreement.

 
	
			
	 
	3.
	“Restricted Period” means the three-year period beginning on the Grant Date and ending on February 3, 2017.

 
	
			
	 
	4.
	“Securities Act” means the Securities Act of 1933, as amended.

 
	
			
	 
	5.
	“Vest” or “Vesting” means the lapse of restrictions applicable to the Restricted Stock Units upon the expiration of the applicable Restricted Period on the Vesting Date in accordance with Section B.2. or such earlier date in accordance with Section B.3.

	
			
	 
	6.
	“Vested” means that portion of the Restricted Stock Units that are paid and transferred to Employee in shares of Stock and as to which Employee has acquired a non-forfeitable right in accordance with Section B.2. or Section B.3, as applicable.

 
	
			
	 
	7.
	“Vesting Date” means February 3, 2017.

 
	
		
	B.
	Restricted Stock Unit Award. 

1. Grant of Restricted Stock Units. The Company hereby grants to Employee Forty Four Thousand Four Hundred Forty Five (44,445) Restricted Stock Units, on the terms and conditions set forth herein and in the Plan, and subject to such other restrictions, if any, as may be imposed by law. 
2. Vesting and Payment of Restricted Stock Units.  Subject to Section 10 of the Plan and Section B.3 hereof, the Restricted Stock Units shall Vest entirely on the Vesting Date, conditioned upon Employee’s continued employment with the Company during and through the entirety of the Restricted Period, in accordance with the following schedule:

	
					
	Number of Full Years (Date)
	  
	Percentage of Units
	 

	Less than 3-years
	  
	 
	0
	% 

	3-years (February 3, 2017)
	  
	 
	100
	% 

Within a reasonable period of time after the Vesting Date, the Company shall pay and transfer to Employee a number of shares of Stock equal to the aggregate number of Restricted Stock Units that Vested on the Vesting Date.
3. Termination of Employment; Change in Control.  Notwithstanding anything herein to the contrary, the Award of Restricted Stock Units granted hereby shall be subject to Section 10 of the Plan (terminations due to death, Disability or Change of Control). Except for such terminations of employment governed by Section 10 of the Plan, if Employee’s employment terminates prior to the end of the Restricted Period, then the entire Award of Restricted Stock Units granted hereby shall be forfeited automatically.  

4. Cash Upon Payment of Dividends. If on any date the Company shall pay any dividend on the Stock, then the Company shall pay to Employee a cash amount equal to the product of the number of Restricted Stock Units granted hereunder multiplied by the per share amount of any such dividend (or, in the case of any dividend payable in property other than cash, the per share value of such dividend, as determined in good faith by the Board). 
5. Withholding of Tax Upon Payment of Stock or Cash. Any obligation of the Company to pay and transfer to Employee Stock pursuant to Section B.2 or cash pursuant to Section B.4 shall be subject to the satisfaction of all applicable federal, state and local income and employment tax withholding requirements as determined by the Company, and in connection therewith the Company is hereby authorized to withhold from any cash or Stock remuneration then or thereafter payable to Employee any tax required to be withheld by reason of such resulting compensation income.
6. Additional Restrictions on Sale of Stock.  Employee shall not be permitted to sell, transfer, pledge, assign or otherwise dispose of any shares of Stock acquired upon the Vesting of the Restricted Stock Units pursuant to Section B.2. or Section B.3, as applicable, until the second anniversary of the date on which Employee acquired such shares of Stock in accordance with the terms of this Agreement.
  
	
		
	C.
	Miscellaneous.

1. Employment Relationship. For purposes of this Agreement, Employee shall be considered to be in the employment of the Company as long as Employee remains an employee of either the Company, a parent or subsidiary corporation (as defined in section 428 of the Code) of the Company, or a corporation or a parent or subsidiary of such corporation. Any question as to whether and when there has been a termination of such employment, and the cause of any such termination, shall be determined by the Committee in its sole discretion, and such determination shall be final. 
2. Voting and Other Rights. Unless and until a certificate or certificates representing shares of Stock shall have been issued by the Company to Employee in connection with the payment of Stock in connection with Vested Restricted Stock Units, Employee shall not be, or have any of the rights or privileges of a stockholder of the Company with respect to, shares of Stock. 
3. Status of Stock. Notwithstanding any other provision of this Agreement, in the absence of an effective registration statement under the Securities Act, or an available exemption from registration under the Securities Act, for the issuance of shares of Stock in connection with any Award granted hereby, such issuance of shares of Stock will be delayed until registration of such shares of Stock is effective or an exemption from registration under the Securities Act is available. The Company intends to use its best efforts to ensure that no such delay will occur. In the event exemption from registration under the Securities Act is available, Employee, if requested by the Company to do so, will execute and deliver to the Company in writing an agreement containing such provisions as the Company may require to assure compliance with applicable securities laws. Employee agrees that the shares of Stock that Employee may acquire in connection with any Award will not be sold or otherwise disposed of in any manner that would constitute a violation of any applicable securities laws. Employee also agrees that (a) the 

certificates representing such shares of Stock may bear such legend or legends as the Company deems appropriate in order to assure compliance with applicable securities laws, (b) the Company may refuse to register the transfer of such shares of Stock on the stock transfer records of the Company if such proposed transfer would, in the opinion of counsel satisfactory to the Company, constitute a violation of any applicable securities law and (c) the Company may give related instructions to its transfer agent, if any, to stop registration of the transfer of such shares of Stock. 
4. Reimbursement by Employee. Employee hereby agrees that if (a) any gains realized upon sale of Stock acquired upon Vesting of any Restricted Stock Units were predicated upon the achievement of financial results that were the product of fraudulent activity or were subsequently the subject of a material negative restatement of the Company’s financial statements as filed with the Securities and Exchange Commission (SEC), (b) in the Committee’s sole discretion Employee engaged in fraud or conduct known by him or her to be in violation of SEC rules and regulations or Company policy that caused Employee to be personally responsible for the fraudulent activity or restatement, and (c) in the Committee’s judgment in light of relevant facts and circumstances less gain would have been realized by Employee absent such restatement or fraudulent activity, then immediately upon demand by the Committee, Employee shall reimburse the Company the entire amount of proceeds received by Employee from the sale of such Stock acquired upon Vesting of Restricted Stock Units. 
5. Binding Effect. This Agreement shall be binding upon and inure to the benefit of any successors to the Company and all persons lawfully claiming under Employee. 
6. Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Washington. 

IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by its officer thereunto duly authorized, and Employee has executed this Agreement, all as of the day and year first above written. 

Plum Creek Timber Company, Inc. 
	
					
	 
	 
	 
	 
	 

	By:
	 
	 
	 
	Date: ____________

	 
	 
	Barbara L. Crowe

	 
	 
	Vice President, Human Resources

____________________________            Date: ___________
Rick R. Holley
Employee ID Number:BIIB - 2013.12.31 - Ex. 10.12

Exhibit 10.12

PERFORMANCE SHARES AWARD AGREEMENT
GRANTED UNDER
BIOGEN IDEC INC. 2008 OMNIBUS EQUITY PLAN
1.  Grant of Performance Shares
     Biogen Idec Inc. (the “Company”) hereby grants on Grant Date (the “Grant Date”) to Participant Name, an employee of the Company or its Affiliates (the “Participant”) pursuant to the Biogen Idec Inc. 2008 Omnibus Equity Plan (as it may be amended from time to time, the “Plan”) Number Granted performance shares (the “Granted  PSs” or the “Award”), subject to the terms and conditions of this award agreement (“Agreement”) and the Plan. No PSs shall be paid unless vested in accordance with this Agreement. The Committee, in its sole discretion, may settle the Award, to the extent vested as provided for in this Agreement and the Plan, in cash or in shares of common stock of the Company (“Common Stock”). The Participant’s rights to the PSs granted pursuant to this Agreement are subject to the restrictions described in this Agreement and the Plan, in addition to such other restrictions, if any, as may be imposed by law. All initially capitalized terms used will have the meaning specified in the Plan, unless another meaning is specified in this Agreement.
2.  Vesting
A. The Participant shall have a nonforfeitable right to a portion  of this Award (such portion, the vested portion) only upon the dates described in this Section 2, except as otherwise provided  herein or determined by the Committee in its sole discretion. No portion of any Award shall become vested on the vesting date unless the Participant is then, and since the Grant Date has continuously been, employed by the Company or any Affiliate. If the Participant ceases to be employed by the Company and its Affiliates for any reason, any then-outstanding and unvested portion of the Award shall be automatically and immediately forfeited and terminated, except as otherwise provided in this Agreement and the Plan.
B. This Award will become eligible to vest upon achievement of the Year PS revenue and earnings per share goals (“Performance Goals”), as adopted by the Compensation and Management Development Committee (the “CMDC”) on Date. The Performance Goals are specified in the Year Long-Term Incentive Program Overview for Executives (“LTI Overview”) which is incorporated in this document by reference. PSs that become eligible to vest are referred to as the “Eligible PSs.” In the event and to the extent that the Performance Goals are not satisfied, such Granted PSs shall not become eligible to vest and shall be immediately forfeited. As specified in the Performance Goals, in the event and to the extent that the Performance Goals are exceeded, an additional number of PSs will become eligible to vest. In no event shall the number of Eligible PSs exceed 200% of the number of Granted PSs. Eligible PSs will become vested in the following installments (the “Vesting Period”):
One-third of the Eligible PSs shall vest on the later of one year from the Grant Date or the date of CMDC determination of the degree to which the performance criteria set forth above have been satisfied;
an additional one-third of the Eligible PSs shall vest on 2nd Vesting Date; and 
an additional one-third of the Eligible PSs shall vest on 3rd Vesting Date.
C.  Except as otherwise provided  in the Plan, upon termination of the Participant’s employment with the Company and its Affiliates for any reason, any portion of this Award that is not then vested will immediately terminate,  except as follows:
(1)  any portion of this Award held by the Participant immediately prior to the Participant’s termination of employment on account of death or Disability will, to the extent not vested previously, become fully vested upon the later of the date of death or Disability or determination of the Eligible PSs based on the performance criteria set forth above and CMDC approval, even if such determination occurs following the date of death or Disability; and
(2)  any portion of this Award held by the Participant immediately prior to the Participant’s Retirement, to the extent not vested previously, will become fully vested upon the later of the date of Retirement or determination of the Eligible PSs based on the performance criteria set forth above and CMDC approval for fifty percent (50%) of the number of Eligible PSs covered by such unvested portion and for an additional ten percent (10%) of the number of Eligible PSs covered by such unvested portion for every full year of employment by the Company and its Affiliates beyond ten (10) years, up to 

the remaining amount of the unvested Eligible PSs of this Award. For the avoidance of doubt, Retirement means the Participant’s  termination  from the Company and its Affiliates after reaching age 55 with ten (10) full years of service with the Company or its Affiliates, but not including any termination For Cause or any termination for insufficient performance, as determined  by the Company and its Affiliates.
D.  Notwithstanding anything herein to the contrary, any portion of this Award held by a Participant or a Participant’s permitted transferee immediately prior to the cessation of the Participant’s employment  For Cause shall terminate at the commencement of business on the date of such termination.
3.  Delivery of Award
A. With respect to a Participant who is not eligible for Retirement, within 30 days following the date on which an Eligible PS becomes vested, with respect to, and in satisfaction of, each vested PS (determined in accordance with Section 2 of this Agreement and Section 10 of the Plan), the Company shall pay or deliver, as applicable, to the Participant, subject to applicable withholding as discussed in Section 7 of this Agreement, either the cash value of one share of Common Stock or one share of Common Stock, at the sole discretion of the Committee.  For purposes of this Agreement, if paid in cash, the cash value of a share of Common Stock (“Cash Value”) will be determined with the applicable LTI Overview.
B. With respect to a Participant who is or becomes eligible for Retirement at any time during the Vesting Period, with respect to, and in satisfaction of, each vested PS (determined in accordance with Section 2 of this Agreement and Section 10 of the Plan), the Company shall pay or deliver, as applicable, to the Participant, subject to applicable withholding as discussed in Section 7 of this Agreement, either the Cash Value or one share of Common Stock, at the sole discretion of the Committee, within 30 days of the earliest of (i) the date the Eligible PS otherwise would have vested under Section 2.B. of this Agreement, (ii) the date on which the Participant experiences a separation from service (within the meaning of Section 409A), subject to Section 3.C. of this Agreement or (iii) the date on which a Covered Transaction that satisfies the definition of a “change in control event” under Section 409A occurs.
C.  If you are a “specified  employee” (as defined in Section 409A), you will be paid on the earlier of (i) the date which is six (6) months after you separate from service (within the meaning of Section 409A) or (ii) your date of death or Disability. The preceding sentence will not apply to any payments that are exempt from or are not subject to the requirements of Section 409A. For avoidance of doubt, if payments would be made under Section 3.B.(i) or Section 3.B. (iii) before the six month payment date on account of other than your separation from service, such payment will be made under Section 3.B.(i) or Section 3.B.(iii) as applicable.
4.  Cancellation and Rescission of Awards
    The Committee may cancel, rescind, withhold or otherwise limit or restrict this Award prior to payment at any time if the Participant is not in compliance with all applicable provisions of this Agreement and the Plan, or if the Participant engages in any Detrimental Activity.
5.  No Voting, Dividend or Other Rights as a Stockholder
     The Participant shall not have any rights as a stockholder with respect to any shares of Common Stock to be issued under the Award until he or she becomes the holder of such shares.  Accordingly, the Award shall not be interpreted to bestow upon the Participant any equity interest or ownership in the Company or any Affiliate prior to the date on which the Company delivers to the Participant shares of Common Stock. Furthermore, the Participant is not entitled to vote any Common Stock or to receive or be credited with any dividends declared and payable on any share of Common Stock by reason of the granting of this Award prior to the date on which the Company delivers to the Participant shares of Common Stock.  For the avoidance of doubt, the Participant shall never have any rights as a stockholder with respect to any shares of Common Stock that are used to calculate the Cash Value to be delivered to the Participant in satisfaction of any vested PSs or with respect to any other aspect of the Award, to the extent it is settled in cash.
6.  Unfunded Status
     The obligations of the Company and its Affiliates hereunder shall be contractual only. The Participant shall rely solely on the unsecured promise of the Company and nothing herein shall be construed to give the Participant or any other person or persons any right, title, interest or claim in or to any specific  asset, fund, reserve, account or property of any kind whatsoever owned by the Company or any Affiliate.

7. Withholding
     Awards will be subject to income tax withholding and reporting as required under local law. If statutory withholding of taxes and/or social insurance is required at the time of vesting, the Company will withhold from delivery to the Participant an amount of cash equal to the amount so required to be withheld.
     In certain cases, local law may require that an award be subject to tax earlier than the date of payment. If that occurs, the Company will notify the Participant and will deduct the required tax amount from the Participant’s pay in accordance with applicable law.
8.    Provisions of the Plan
     This Award is subject to the provisions of the Plan, which are incorporated herein by reference, and in the event of any inconsistency or conflict between the provisions of this Agreement and the Plan, the provisions of the Plan shall control. A copy of the Plan as in effect on the Grant Date has been made available to the Participant.
9.  No Right to Employment
     The grant of this Award shall not constitute a contract of employment or confer upon the Participant any right with respect to the continuance of his/her employment by or other service with the Company or any Affiliate, nor shall it or they be construed as affecting  the rights of the Company (or Affiliate) to terminate the service of the Participant at any time or otherwise change the terms of such service,  including, without limitation, the right to promote, demote or otherwise re-assign the Participant from one position to another within the Company or any Affiliate.
10.  Governing Law
     The provisions of this Award shall be governed by and interpreted in accordance with the laws of the State of Delaware.
IN WITNESS WHEREOF, the Company has caused this instrument to be executed by its duly authorized officer.
Biogen Idec Inc.
By ________________
Dated:      ________________

Participant
___________________        
Dated:      ________________

BY ACCEPTING THIS AWARD OR ANY BENEFIT HEREUNDER, THE PARTICIPANT CONSENTS TO ALL THE TERMS AND CONDITIONS IN THIS AGREEMENT AND IN THE PLAN.

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