Document:

ex1026.htm

    Exhibit
10.26

    

    NATIONAL
FINANCIAL PARTNERS CORP.

    2009
STOCK INCENTIVE PLAN

    

    FORM OF
RESTRICTED STOCK UNIT NOTICE OF AWARD

    FOR
DIRECTORS OF NATIONAL FINANCIAL PARTNERS CORP.

    

    This Restricted Stock Unit Notice of
Award (“Notice”) is to certify that the participant named below (the
“Participant”) has been granted the number of Restricted Stock Units (“RSUs”)
set forth below under the terms and conditions set forth in this
Notice.  The award described below (the “Award”) is subject to, and
this Notice incorporates by reference, the attached additional terms and
conditions (the “Additional Terms and Conditions”).  Please refer to
the Additional Terms and Conditions and the National Financial Partners Corp.
2009 Stock Incentive Plan (the
“Plan”) for an explanation of the terms and conditions of the Award and a full
description of your rights and obligations.

     

    
      
        	
                Award
      Number:

              	 
      
	 
      	 
      
	
                Name of
      Participant:

              	 
      
	 
      	 
      
	
                Number of Restricted
      Stock Units:

              	 
      
	 
      	 
      
	
                Grant
      Date:

              	 
      
	 
      	 
      
	
                Vesting
      Schedule:

              	
                See
      Section 2 in Exhibit A attached - Additional Terms and
      Conditions

              
	 
      	 
      
	
                Payment of
      Taxes:

              	
                See
      Section 9 in Exhibit A.

              
	 
      	 
      
	
                Additional
      Terms:

              	
                See
      Exhibit A.

              

      

    

    

    A copy of the
Plan and related Prospectus and additional information regarding the Award, as
well as any other awards you may have previously received from National
Financial Partners Corp. (“NFP”), can be viewed on Merrill Lynch’s web site at
www.benefits.ml.com.

    

    Important
Notice:

    

    In
order to receive the underlying shares of NFP common stock when your RSUs vest,
you must open an eligible brokerage account with Merrill Lynch (or such other
administrator as may be designated by NFP) on or before the Vesting Date (as
defined in Section 2 of the Additional Terms and Conditions attached as Exhibit
A  hereto).  401(k) accounts, IRA accounts, joint accounts
and accounts opened at branch offices of Merrill Lynch cannot be used for this
purpose.  We have determined that you do not have an eligible
account.  You can open an account by completing an application online
at www.benefits.ml.com.  To
login you will need the Personal Identification Number (“PIN”) mailed to you by
Merrill Lynch.  If you cannot locate your PIN or if you encounter any
problems with the account creation process, contact Merrill Lynch Customer
Service at 877-767-2404.

    

    Please
note that your RSUs may be forfeited and cancelled by NFP if you do not open an
eligible brokerage account on or before the Vesting Date.

    
      
        
           

        

         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
A

    

    FORM OF
ADDITIONAL TERMS AND CONDITIONS

    OF
RESTRICTED STOCK UNIT GRANT

    FOR
DIRECTORS OF NATIONAL FINANCIAL PARTNERS CORP.

    

    These
Additional Terms and Conditions shall be construed in accordance with the
provisions of the Plan and any capitalized terms not otherwise defined herein
shall have the definitions set forth in the Plan.

    

    
      	
              1.  

            	
              Grant
      of Award.  Pursuant to Section 7(b) of the Plan, the
      Company grants to the Participant, as of the Grant Date specified in the
      Notice and subject to the terms and conditions of the Plan and subject
      further to the terms and conditions set forth herein, the number of RSUs
      as shown on the Notice.  Record of the Participant’s grant shall
      be kept on the books of the Company until the Restricted Period (as
      defined in Section 2 below) shall have
lapsed.

            

    

     

    
      	
              2.  

            	
              Vesting.  Except
      as otherwise provided herein and subject to the Participant’s continuous
      Employment/Service, the RSUs granted to the Participant shall vest and
      become payable ratably on each of the first three yearly anniversaries of
      the Grant Date (each such anniversary, a “Vesting Date”).  The
      period from the Grant Date to the date the applicable RSU becomes vested
      and payable shall be referred to herein as the “Restricted
      Period.”

            

    

     

    
      	
              3.  

            	
              Form
      of Payment.  Unless otherwise determined by the Committee
      at the time of payment, and except as provided in Section 8 below, each
      RSU granted hereunder shall represent the right to receive one share of
      Common Stock, which shall be delivered upon the vesting of such
      RSU.

            

    

     

    
      	
              4.  

            	
              Dividend
      Equivalents.  The RSUs granted hereunder shall earn
      dividend equivalents that shall be credited and paid out as
      follows:

            

    

     

    
      	
              (a)  

            	
              As of each date on
      which cash dividends or distributions are paid with respect to Common
      Stock (a “Dividend Date”), an amount in cash equal to such cash dividend
      or distribution shall be credited to the Participant’s account; provided
      that the record date with respect to such dividend or distribution occurs
      during the Restricted Period.

            

    

     

    
      	
              (b)  

            	
              As of each Vesting
      Date, dividend equivalents credited pursuant to paragraph (a) above during
      (x) the period from the Grant Date to the initial Vesting Date and (y)
      each successive one-year period, if any, following the initial Vesting
      Date (each, an “Applicable Period”) shall, subject to Section 4(c) below,
      be paid in cash, unless the Committee (or its designee) determines that
      such dividend equivalents shall be converted into additional
      RSUs.  If converted into additional RSUs, the number of
      additional RSUs to be credited to the Participant shall be calculated by
      aggregating the number of RSUs earned on each Dividend Date during the
      Applicable Period.  The number of RSUs earned on each such
      Dividend Date shall be equal to the quotient (rounded to the nearest whole
      number) obtained by dividing (i) the amount of cash credited to such
      Participant’s account as of the record date for such dividend or
      distribution by (ii) the Fair Market Value of a share of Common Stock as
      of such Dividend Date.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              (c)  

            	
              Any additional RSUs
      (or cash, as the case may be) credited pursuant to this Section 4 shall be
      subject to the same terms and conditions (including vesting, forfeiture
      and payment) as are applicable to the RSUs on which they are earned, and
      any such RSU (or cash) which becomes vested as of each vesting date shall
      be paid within the 90-day period following such vesting
    date.

            

    

     

    
      	
              5.  

            	
              Restrictions
      on Transfer.  RSUs may not be transferred or otherwise
      disposed of by the Participant, including by way of sale,
      assignment, transfer, pledge, hypothecation or otherwise, except as
      permitted by the Committee, or by will or the laws of descent and
      distribution.  No purported sale, assignment, mortgage,
      hypothecation, transfer, pledge, encumbrance, gift, transfer in trust
      (voting or other) or other disposition of, or creation of a security
      interest in or lien on, any of the RSUs by any holder thereof in violation
      of the provisions of these Additional Terms and Conditions shall be valid,
      and the Company will not transfer any of such RSUs on its books, nor will
      any dividends be paid thereon, unless and until there has been full
      compliance with such provisions to the satisfaction of the
      Company.  The foregoing restrictions are in addition to and not
      in lieu of any other remedies, legal or equitable, available to enforce
      such provisions.

            

    

     

    
      	
              6.  

            	
              Approvals.  No
      shares of Common Stock shall be issued hereunder unless and until all
      legal requirements applicable to the issuance of such shares have been
      complied with to the satisfaction of the Committee.  The
      Committee shall have the right to condition any issuance of shares to the
      Participant on the Participant’s undertaking in writing to comply with
      such restrictions on the subsequent disposition of such shares as the
      Committee shall deem necessary or advisable as a result of any applicable
      law or regulation.

            

    

     

    
      	
              7.  

            	
              Termination
      of Employment/Service.  In the event that the
      Participant’s Employment/Service with the Company and its Related Entities
      terminates other than because of the Participant’s death or Disability,
      those RSUs that have not become vested and payable as of the effective
      date of such termination shall immediately be forfeited and
      cancelled.  In the event of the Participant’s death or
      Disability, all RSUs that have not become vested and payable as of the
      effective date of such death or Disability shall immediately vest and be
      paid or settled within 60 days following such
  termination.

            

    

     

    
      	
              8.  

            	
              Change
      in Control.  In the event of a Change in Control (as
      defined in paragraph 8(c) below), the following provisions shall apply to
      the RSUs that have not become vested and payable as of the effective date
      of such Change in Control:

            

    

     

    
      	
              (a)  

            	
              In the event that
      the RSUs are not expressly assumed by a successor to the Company’s
      business pursuant to the transaction(s) constituting a Change in Control,
      all of the RSUs that have not become vested and payable as of the
      effective date of such Change in Control shall immediately vest and be
      paid in cash within ten (10) business days following such Change in
      Control.  The amount to be so paid to the Participant shall be
      calculated by multiplying (i) the number of RSUs then becoming vested and
      payable by (ii) the per share Fair Market Value of the Common Stock as of
      the date of the Change in Control.

            

    

     

    
      	
              (b)  

            	
              In the event that
      the RSUs are expressly assumed by a successor to the Company’s business
      pursuant to the transaction(s) constituting a Change in Control, the RSUs
      shall remain subject to their original terms and conditions, except as
      adjusted by the Committee to provide for such
  assumption.

            

    

     

    
      
        
        

      

      
        A-2

        
          

        

      

      
        
        

      

    

    
      	
              (c)  

            	
              Definitions:  For
      purposes of these Additional Terms and
  Conditions:

            

    

     

    A “Change
in Control” shall mean:

    

    (1)           any
“person”, as such term is used in Sections 3(a)(9) and 13(d) of the Exchange
Act, other than the Company or any employee benefit plan sponsored by the
Company, becomes a  “beneficial owner”, as such term is used in Rule
13d-3 promulgated under the Exchange Act, of 30% or more of the outstanding
shares of common stock of the Company;

    

    (2)           the
dissolution or sale of all or substantially all of the assets of the
Company;

    

    (3)           consummation
of a merger or consolidation after which, (A) the shareholders of the Company
immediately prior to the combination do not hold, directly or indirectly, Voting
Securities (as defined below) or other ownership interests of the entity or
entities, if any, that succeed to the business of the Company having more than
50% of the Voting Power (as defined below) of the combined company in
substantially the same proportions as they beneficially owned the Voting
Securities of the Company (there being excluded from the Voting Securities held
by such shareholders, but not from the Voting Securities of the combined
company, any shares received by affiliates of such other company in exchange for
securities of such other company) or (B) individuals who were Incumbent Members
(as defined below) of the Board immediately before such combination do not hold
a majority of the seats on the board of directors of the combined company;
or

    

    (4)           at
any time after June 3, 2009, individuals who, as of June 3, 2009, constitute the
Board (the “Incumbent Members”) cease for any reason to constitute at least a
majority of the Board; provided, however, that any individual becoming a
director subsequent to June 3, 2009 whose election, or nomination for election
by the stockholders of the Company, was approved by a vote of at least a
majority of the then Incumbent Members shall be considered as though such
individual were an Incumbent Member, but excluding, for this purpose, any such
individual whose initial assumption of office occurs as a result of either an
actual or threatened election contest or other actual or threatened solicitation
of proxies or consents by or on behalf of any person other than the
Board.

    

    For
purposes hereof (A) “Voting Securities” shall mean any securities of a
corporation entitled, or which may be entitled, to vote on matters submitted to
the stockholders generally (whether or not entitled to vote in the general
election of directors), or securities which are convertible into, or exercisable
or exchangeable for, such Voting Securities, whether or not subject to the
passage of time or any contingency and (B) “Voting Power” shall mean the number
of votes available to be cast (determined by reference to the maximum number of
votes entitled to be cast by the holders of such Voting Securities, or by the
holders of any other Voting Securities into which such other Voting Securities
may be convertible, exercisable or exchangeable for, upon any matter submitted
to stockholders where the holders of all Voting Securities vote together as a
single class) by the holders of Voting Securities.

     

    
      
        
        

      

      
        A-3

        
          

        

      

      
        
        

      

    

    
      	
              9.  

            	
              Taxes.  The
      Participant (and not the Company) shall be responsible for any tax
      liability that may arise as a result of the transactions contemplated by
      this RSU Award.  At the time the Participant recognizes taxable
      income from the payment in respect of the RSUs, the Participant shall pay
      to the Company an amount equal to the federal, state and/or local taxes
      the Company determines it is required to withhold under applicable tax
      laws with respect to the payment in respect of the RSUs (e.g. in the case
      of a Participant who is an employee).  To satisfy the foregoing
      requirement, the Company may withhold a portion of the RSUs, or a portion
      of the shares of Common Stock to be received hereunder, having a value
      equal to or less than the minimum amount required to be withheld, or, at
      the Company’s discretion, the Participant may satisfy the foregoing
      requirement by one or a combination of the following methods: (a) making a
      payment to the Company in cash or cash equivalents or (b) by authorizing
      the Company to withhold cash otherwise due to the
      Participant.  In the event the Company determines it is not
      required to withhold under applicable tax laws with respect to the payment
      in respect of the RSUs (e.g. in the case of a Participant who is an
      independent contractor), the Participant shall be responsible for the
      remittance of any federal, state and/or local taxes to the proper
      authorities, and the Company shall issue a Form 1099 to report such
      taxable income.  The Company cannot provide tax advice and the
      Participant is encouraged to consult an independent tax
      professional.

            

    

     

    
      	
              10.  

            	
              Section
      409A Compliance.  The intent of the parties is that
      payments and benefits under these Additional Terms and Conditions comply
      with (or be exempt from) Section 409A of the Code and, accordingly, to the
      maximum extent permitted, these Additional Terms and Conditions shall be
      interpreted and be administered to be in compliance
      therewith.  Notwithstanding anything contained herein to the
      contrary, to the extent required in order to avoid accelerated taxation
      and/or tax penalties under Section 409A of the Code, the Participant shall
      not be considered to have terminated Employment/Service with the Company
      for purposes of these Additional Terms and Conditions and no payment shall
      be due to the Participant under these Additional Terms and Conditions
      until the Participant would be considered to have incurred a “separation
      from service” from the Company within the meaning of Section 409A of the
      Code.  Any payments described in these Additional Terms and
      Conditions or the Plan that are due within the “short-term deferral
      period” as defined in Section 409A of the Code shall not be treated as
      deferred compensation unless applicable law requires
      otherwise.  Notwithstanding anything to the contrary in these
      Additional Terms and Conditions or the Plan, to the extent that any RSUs
      are payable upon a separation from service and such payment would result
      in the imposition of any individual excise tax and late interest charges
      imposed under Section 409A of the Code, the settlement and payment of such
      awards shall instead be made on the first business day after the date that
      is six (6) months following such separation from service (or death, if
      earlier).

            

    

     

    
      	
              11.  

            	
              Compliance
      with Law and Regulations.  These Additional Terms and
      Conditions, the Award granted hereby and any obligation of the Company
      hereunder shall be subject to all applicable federal, state and local
      laws, rules and regulations and to such approvals by any government or
      regulatory agency as may be
required.

            

    

     

    
      	
              12.  

            	
              Incorporation
      of Plan.  These Additional Terms and Conditions are
      governed by the provisions of the Plan (which is incorporated herein by
      reference) and shall be interpreted in a manner consistent with
      it.  To the extent that these Additional Terms and Conditions
      are silent with respect to, or in any way inconsistent with, the terms of
      the Plan, the provisions of the Plan shall govern and these Additional
      Terms and Conditions shall be deemed to be modified
      accordingly.

            

    

     

    
      
        
        

      

      
        A-4

        
          

        

      

      
        
        

      

    

    
      	
              13.  

            	
              Notices.  Any
      notices required or permitted hereunder shall be addressed to Office of
      the General Counsel, National Financial Partners, 340 Madison Avenue, 19th
      Floor, New York, New York 10173, or to the Participant at the postal
      address then on record with the Company or by electronic communication, as
      the case may be, and deposited, postage prepaid, in the United States mail
      or delivered by electronic communication.  Either party may, by
      notice to the other given in the manner aforesaid, change his/her or its
      address for future notices.

            

    

     

    
      	
              14.  

            	
              Binding
      Agreement; Successors.  These Additional Terms and
      Conditions shall bind and inure to the benefit of the Company, its
      successors and assigns, and the Participant and the Participant’s personal
      representatives and beneficiaries.

            

    

     

    
      	
              15.  

            	
              Governing
      Law.  These Additional Terms and Conditions shall be
      governed by and construed in accordance with the laws of the State of
      Delaware without giving effect to any principles thereof relating to the
      conflict of laws.  The Committee shall have final authority to
      interpret and construe the Plan and these Additional Terms and Conditions
      and to make any and all determinations under them, and its decision shall
      be binding and conclusive upon all
Persons.

            

    

     

    
      	
              16.  

            	
              Amendment.  These
      Additional Terms and Conditions may be amended or modified by the Company
      at any time in accordance with the Plan; provided, that notice is provided
      to the Participant in accordance with Section 13 hereof; and provided,
      further, that no amendment or modification that is adverse to the rights
      of the Participant as provided by the Notice and these Additional Terms
      and Conditions shall be effective unless set forth in a writing signed by
      the Participant and the
Company.

            

    

     

    
      	
              17.  

            	
              Headings.  The
      captions used in these Additional Terms and Conditions are inserted for
      convenience and shall not be deemed a part of the Additional Terms and
      Conditions for construction or
interpretation.

            

    

     

    
      	
              18.  

            	
              Dispute
      Resolution. The provisions of this Section 18 shall be the
      exclusive means of resolving disputes arising out of or relating to the
      Notice, the Plan and these Additional Terms and Conditions.  Any
      dispute or controversy between the parties relating to or arising out the
      Notice, the Plan or these Additional Terms and Conditions shall be
      determined by arbitration in New York, New York by and pursuant to the
      rules then prevailing of the American Arbitration
      Association.  The arbitration award shall be final and binding
      upon the parties and judgment may be entered thereon by any court of
      competent jurisdiction.  The service of any notice, process,
      motion or other document in connection with any arbitration under the
      Notice, the Plan or these Additional Terms and Conditions or the
      enforcement of any arbitration award hereunder may be effectuated either
      by personal service upon a party or by certified mail duly addressed to
      him or to his executors, administrators, personal representatives, next of
      kin, successors or assigns, at the last known address or addresses of such
      party or Parties.  If any one or more provisions of this Section
      18 shall for any reason be held invalid or unenforceable, it is the
      specific intent of the parties that such provisions shall be modified to
      the minimum extent necessary to make it or its application valid and
      enforceable.

            

    

     

    A-5Form of Notice of Grant of RSU - Non-Employee Directors

 EXHIBIT 10.15 
 COGENT, INC. 
 NOTICE OF GRANT OF RESTRICTED STOCK
UNITS 
 (Non-Employee Directors) 
                              (the
“Participant”) has been granted an award (the “Award”) pursuant to the Cogent, Inc. 2004 Equity Incentive Plan (the “Plan”) consisting of one or more rights (each such right being hereinafter
referred to as a “Restricted Stock Unit”) to receive in settlement of each such right one (1) share of Stock of Cogent, Inc. (the “Company”), as follows: 
  

					
	Date of Grant:	    	[                    ]
		
	Number of Restricted Stock Units:	    	[                    ]
		
	Settlement Date(s):	    	The earlier of (a) the Participant’s termination of Board Service, or (b) a 409A Change in Control of the Company.
		
	Vesting Date(s):	    	The number of vested Restricted Stock Units as of any date shall be determined as follows, provided the Participant’s Board Service has not terminated prior to
such date:

			
		
	 	  	Vested
Percentage
	Prior to the First Anniversary of Date of Grant	  	    0%
	First Anniversary of Date of Grant	  	  25%
	Second Anniversary of Date of Grant	  	  50%
	Third Anniversary of Date of Grant	  	  75%
	Fourth Anniversary of Date of Grant	  	100%

 By their signatures below, the Company and the Participant agree that the Award
is governed by this Notice and by the provisions of the Plan and the Restricted Stock Units Agreement attached to and made a part of this document. The Participant acknowledges receipt of copies of the Plan and the Restricted Stock Units Agreement,
represents that the Participant has read and is familiar with its provisions, and hereby accepts the Award subject to all of its terms and conditions. 

									
	COGENT, INC.	  		  	PARTICIPANT
				
	By:	  	  
	  		  	  

	Name:	  		  		  	Signature
	Title:	  		  		  	
			
	Address: 639 North Rosemead Blvd.	  		  	  

	               Pasadena, CA 91107	  		  	Date
					
		  		  		  	Address:	 	  

					
		  		  		  		 	  

  

			
	 ATTACHMENTS:
	  	2004 Equity Incentive Plan, as amended to the Date of Grant and the Restricted Stock Units Agreement.

 COGENT, INC. 
 RESTRICTED STOCK UNITS AGREEMENT 
 (Non-Employee
Directors) 
 Cogent, Inc. (the “Company”) has granted to the individual (the
“Participant”) named in the Notice of Grant of Restricted Stock Units (the “Notice”) to which this Restricted Stock Units Agreement (the “Agreement”) is attached an award (the
“Award”) of Restricted Stock Units upon the terms and conditions set forth in the Notice and this Agreement. The Award has been granted pursuant to and shall in all respects be subject to the terms and conditions of the
Cogent, Inc. 2004 Equity Incentive Plan (the “Plan”), as amended to the Date of Grant. By signing the Notice, the Participant: (a) represents that the Participant has read and is familiar with the terms and conditions of
the Notice, the Plan and this Agreement, (b) accepts the Award subject to all of the terms and conditions of the Notice, the Plan and this Agreement, (c) agrees to accept as binding, conclusive and final all decisions or interpretations of
the Committee upon any questions arising under the Notice, the Plan or this Agreement, and (d) acknowledges receipt of a copy of the Notice, the Plan and this Agreement. 
 1. Definitions and Construction. 
 1.1 Definitions. Unless otherwise
defined herein, capitalized terms shall have the meanings assigned to such terms in the Notice or the Plan. 
 1.2
Construction. Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision of this Agreement. Except when otherwise indicated by the context, the singular shall include the
plural and the plural shall include the singular. Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise. 
 2. Administration. 
 All questions of interpretation concerning this
Agreement shall be determined by the Committee. All determinations by the Committee shall be final and binding upon all persons having an interest in the Award. Any officer of a Participating Company shall have the authority to act on behalf of the
Company with respect to any matter, right, obligation, or election which is the responsibility of or which is allocated to the Company herein, provided the officer has apparent authority with respect to such matter, right, obligation, or election.

 3. Settlement of the Award. 
 3.1 No Additional Payment Required. The Participant shall not be required to make any additional monetary payment (other than applicable tax withholding, if any) upon settlement of the Award.
Payment of the aggregate purchase price of the shares of Stock for which the Award is being settled shall be made in the form of past services rendered by the Participant to a Participating Company or for its benefit which the Committee, by
resolution, determines to have a value not less than the aggregate purchase price of such shares of Stock. 

 3.2 Issuance of Shares of Stock. Subject to the provisions of Sections 3.5 and
10.5 below, the Company shall issue to the Participant, on a date within thirty (30) days following the Settlement Date (as defined in the Notice), a number of whole shares of Stock equal to the vested Number of Restricted Stock Units (as
defined in the Notice), rounded down to the nearest whole number. Such shares of Stock shall not be subject to any restriction on transfer other than any such restriction as may be required pursuant to Section 3.5. On the Settlement Date, the
Company shall pay to the Participant cash in lieu of any fractional share of Stock represented by a fractional Restricted Stock Unit subject to this Award in an amount equal to the Fair Market Value on the Settlement Date of such fractional share of
Stock. 
 3.3 Tax Withholding. When the shares of Stock are issued as payment for vested Restricted Stock Units, the
Participant will recognize immediate U.S. taxable income if the Participant is a U.S. taxpayer. If the Participant is a non-U.S. taxpayer, the Participant will be subject to applicable taxes in his or her jurisdiction. The Company will withhold a
portion of the shares of Stock otherwise issuable in payment for vested Restricted Stock Units that have an aggregate Fair Market Value sufficient to pay the minimum federal, state and local income, employment and any other applicable taxes required
to be withheld by the Company with respect to the shares of Stock. No fractional shares of Stock will be withheld or issued pursuant to the grant of Restricted Stock Units and the issuance of shares of Stock hereunder. In the event the withholding
requirements are not satisfied through the withholding of shares of Stock (or, through the Participant’s salary or other amounts payable to the Participant), no shares of Stock will be issued to the Participant (or his or her estate) in
settlement of the Restricted Stock Units unless and until satisfactory arrangements (as determined by the Committee) have been made by the Participant with respect to the payment of any income and other taxes which the Company determines must be
withheld or collected with respect to such Restricted Stock Units. By accepting this Award the Participant expressly consents to the withholding of shares of Stock as provided for in this Section 3.3. All income and other taxes related to the
Restricted Stock Units and any shares of Stock delivered in payment thereof are the sole responsibility of the Participant and the Company shall have no obligation to deliver shares of Stock until the tax withholding obligations of the Company have
been satisfied by the Participant. 
 3.4 Certificate Registration. The certificate for the shares as to which the Award
is settled shall be registered in the name of the Participant, or, if applicable, in the names of the heirs of the Participant. 
 3.5 Restrictions on Grant of the Award and Issuance of Shares. The grant of the Award and issuance of shares of Stock upon settlement of the Award shall be subject to compliance with all applicable requirements of federal, state or
foreign law with respect to such securities. The settlement of the Award shall be delayed in the event the Company reasonably anticipates that the issuance of the Shares would constitute a violation of federal securities laws or other applicable
law. If the settlement is delayed by the provisions of this Section 3.5, the settlement shall occur at the earliest date at which the Company reasonably anticipates issuing the shares of will not cause a violation of federal securities laws or
other applicable law. For purposes of this Section 3.5, the issuance of shares of Stock that would cause inclusion in gross

 
income or the application of any penalty provision or other provision of the Code is not considered a violation of applicable law. 
 3.6 Fractional Shares. The Company shall not be required to issue fractional shares upon the settlement of the Award. 
 4. Nontransferability of the Award. 
 Prior the Settlement Date, neither this Award nor any Restricted Stock Unit subject to this Award shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, or garnishment by creditors of
the Participant or the Participant’s beneficiary, except by will or by the laws of descent and distribution. 
 5. Effect of Termination
of Board Service. 
 5.1 Death. If the Participant’s Board Service terminates because of the death of the
Participant, the Restricted Stock Units, to the extent unvested on the date on which the Participant’s Board Service terminated, shall be fully accelerated and shares of Stock subject to such fully vested Restricted Stock Unit shall be settled
pursuant to Section 3 of this Agreement by the issuance of shares of Stock to the Participant’s legal representative or other person who acquired the right to such shares of Stock by reason of the Participant’s death. 
 5.2 Other Termination of Service. If the Participant’s Board Service terminates for any reason, except death, the Restricted
Stock Units, to the extent unvested on the date on which the Participant’s Service terminated, shall terminate and any unvested shares of Stock subject to the terminated Restricted Stock Unit shall be forfeited on the effective date of such
termination of Service. 
 5.3 Definitions. For purposes of the Award, “Board Service” shall mean service as a
member of the Board. A “termination of Board Service” shall mean the Participant’s “separation from service” as a Board Member as described in the Treasury regulations under Code Section 409A. 
 6. Change in Control. 
 In
the event of a Change in Control, the Award shall become 100% vested. If the Change in Control constitutes a 409A Change in Control, the Award shall be settled in accordance with Section 3 immediately prior to the effective date of the Change
in Control. For purposes of the Award, “409 Change in Control” shall mean a Change in Control that also constitutes a “change in control event” as defined under Treasury regulations Section 1.409A-3(i)(5). 
 7. Adjustments for Changes in Capital Structure. 
 Subject to any required action by the stockholders of the Company, in the event of any change in the Stock effected without receipt of consideration by the Company, whether through merger, consolidation,
reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares,

 
exchange of shares, or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders of the Company in a form other than
Stock (excepting normal cash dividends) that has a material effect on the Fair Market Value of shares of Stock, appropriate and proportionate adjustments shall be made in the number and class of shares subject to the Award, in order to prevent
dilution or enlargement of the Participant’s rights under the Award. For purposes of the foregoing, conversion of any convertible securities of the Company shall not be treated as “effected without receipt of consideration by the
Company.” Any fractional share resulting from an adjustment pursuant to this Section 7 shall be rounded down to the nearest whole number. Such adjustments shall be determined by the Committee, and its determination shall be final, binding
and conclusive. 
 8. Rights as a Stockholder, Director, Employee or Consultant. 
 The Participant shall have no rights as a stockholder with respect to any shares which may be issued in settlement of this Award until the
date of the issuance of a certificate for such shares (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 7. If the Participant is an Employee, the Participant understands and acknowledges that, except as otherwise provided in a separate,
written employment agreement between a Participating Company and the Participant, the Participant’s employment is “at will” and is for no specified term. Nothing in this Agreement shall confer upon the Participant any right to
continue in the Service of a Participating Company or interfere in any way with any right of the Participating Company Group to terminate the Participant’s Service as a Director, an Employee or a Consultant, as the case may be, at any time.

 9. Legends. 
 The Company may at any time place legends referencing any applicable federal, state or foreign securities law restrictions on all certificates representing shares of stock issued pursuant to this Agreement. The Participant shall, at the
request of the Company, promptly present to the Company any and all certificates representing shares acquired pursuant to this Award in the possession of the Participant in order to carry out the provisions of this Section. 
 10. Miscellaneous Provisions. 
 10.1 Further Instruments. The parties hereto agree to execute such further instruments and to take such further action as may reasonably be necessary to carry out the intent of this Agreement. 
 10.2 Binding Effect. Subject to the restrictions on transfer set forth herein, this Agreement shall inure to the benefit of and be
binding upon the parties hereto and their respective heirs, executors, administrators, successors and assigns. 
 10.3
Termination or Amendment. The Committee may terminate or amend the Plan or the Award at any time; provided, however, that except as provided in Section 6 in connection

 
with a Change in Control, no such termination or amendment may adversely affect the Award without the consent of the Participant unless such termination or amendment is necessary to comply with
any applicable law or government regulation. No amendment or addition to this Agreement shall be effective unless in writing. 
 10.4 Vesting Acceleration. The Committee, in its discretion, may accelerate the vesting of the balance, or some lesser portion of the balance, of the unvested Restricted Stock Units at any time, subject to the terms of the Plan. If
so accelerated, such Restricted Stock Units will be considered as having vested as of the date specified by the Committee and shall be settled through the issuance of shares on the applicable Settlement Date. 
 10.5 Code Section 409A. Notwithstanding anything in the Plan or this Agreement to the contrary, if the settlement of a portion
of the Restricted Stock Units occurs in connection with Participant’s termination of Board Service (provided that such termination is a “separation from service” within the meaning of Section 409A of the Code, as determined by
the Company) pursuant to Section 5 of this Agreement and if (x) Participant is a “specified employee” within the meaning of Section 409A of the Code at the time of such termination of Board Service and (y) the
settlement of such accelerated Restricted Stock Units will result in the imposition of additional tax under Section 409A of the Code if paid to Participant on or within the six (6) month period following Participant’s termination of
Board Service, then the settlement of such portion of the Restricted Stock Units will not occur until the date six (6) months and one (1) day following the date of Participant’s termination of Board Service. It is the intent of this
Agreement to comply with the requirements of Section 409A of the Code so that none of the Restricted Stock Units provided under this Agreement or shares of Stock issuable thereunder will be subject to the additional tax imposed under
Section 409A of the Code, and any ambiguities herein will be interpreted to so comply. 
 10.6 Notices. Any notice
required or permitted hereunder shall be given in writing and shall be deemed effectively given (except to the extent that this Agreement provides for effectiveness only upon actual receipt of such notice) upon personal delivery, upon deposit in the
United States Post Office, by registered or certified mail, or with an overnight courier service with postage and fees prepaid, addressed to the other party at the address shown below that party’s signature or at such other address as such
party may designate in writing from time to time to the other party. 
 10.7 Integrated Agreement. The Notice and this
Agreement constitute the entire understanding and agreement of the Participant and the Participating Company Group with respect to the subject matter contained herein or therein and supersedes any prior agreements, understandings, restrictions,
representations, or warranties among the Participant and the Participating Company Group with respect to such subject matter other than those as set forth or provided for herein or therein. To the extent contemplated herein or therein, the
provisions of the Notice and the Agreement shall survive any settlement of the Award and shall remain in full force and effect. 

 10.8 Applicable Law. This Agreement shall be governed by the laws of the State of
California as such laws are applied to agreements between California residents entered into and to be performed entirely within the State of California. 
 10.9 Counterparts. The Notice may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

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