Document:

EX-10.54

 

Exhibit 10.54

WYNDHAM WORLDWIDE CORPORATION

2006 EQUITY AND INCENTIVE PLAN

AWARD AGREEMENT — RESTRICTED STOCK UNITS

     Award Agreement (this “Agreement”), dated as of xx/xx/xxxx by and between Wyndham
Worldwide Corporation, a Delaware corporation (the “Company”), and the grantee indicated on Exhibit
A attached hereto (the “Grantee”), pursuant to the terms and conditions of the Wyndham Worldwide
Corporation 2006 Equity and Incentive Plan (the “Plan”).

     In consideration of the provisions contained in this Agreement, the Company and the Grantee
agree as follows:

     1. The Plan. The Award granted to the Grantee hereunder is pursuant to the Plan. A copy of
the Plan and a prospectus for the Plan are attached hereto and the terms of the Plan are hereby
incorporated in this Agreement. Terms used in this Agreement which are not defined in this
Agreement shall have the meanings used or defined in the Plan.

     2. Award. Concurrently with the execution of this Agreement, subject to the terms and
conditions set forth in the Plan and this Agreement, the Company hereby grants the Award indicated
on Exhibit A attached hereto (the “Award”) to the Grantee. Upon the vesting of the Award, as
described in Paragraph 3 below, the Company shall deliver for each Restricted Stock Unit that
becomes vested, one share of Stock; provided, however, that the Grantee shall remain required to
remit to the Company such amount that the Company determines is necessary to meet all required
minimum withholding taxes.

     3. Schedule of Lapse of Restrictions. Subject to Paragraph 4 below, the Restricted Stock
Units granted hereunder shall vest in the manner set forth on Exhibit A attached hereto, subject to
the Grantee’s continuous employment with the Company through each respective vesting date. Upon
(i) a “Change in Control”, (ii) the Grantee’s termination of employment by reason of death or
Disability or (iii) if applicable, such other event as set forth in the Grantee’s written agreement
of employment with the Company, the Award shall become immediately and fully vested, subject to any
terms and conditions set forth in the Plan and/or imposed by the Committee.

     4. Termination of Employment. Notwithstanding any other provision of the Plan to the
contrary, and, if applicable, subject to Grantee’s written agreement of employment with the
Company, upon the termination of the Grantee’s employment with the Company and its subsidiaries for
any reason whatsoever (other than death or Disability), the Award, to the extent not yet vested,
shall immediately and automatically terminate.

     5. No Assignment. This Agreement (and the Award) may not be assigned by the Grantee by
operation of law or otherwise.

 

 

     6. No Rights to Continued Employment; Loss of Office. Neither this Agreement nor the Award
shall be construed as giving the Grantee any right to continue in the employ of the Company or any
of its subsidiaries, or shall interfere in any way with the right of the Company to terminate such
employment. Notwithstanding any other provision of the Plan, the Award, this Agreement or any other
agreement (written or oral) to the contrary, for purposes of the Plan and the Award, a termination
of employment shall be deemed to have occurred on the date upon which the Grantee ceases to perform
active employment duties for the Company following the provision of any notification of termination
or resignation from employment, and without regard to any period of notice of termination of
employment (whether expressed or implied) or any period of severance or salary continuation.
Notwithstanding any other provision of the Plan, the Award, this Agreement or any other agreement
(written or oral) to the contrary, the Grantee shall not be entitled (and by accepting an Award,
thereby irrevocably waives any such entitlement), by way of compensation for loss of office or
otherwise, to any sum or other benefit to compensate the Grantee for the loss of any rights under
the Plan as a result of the termination or expiration of an Award in connection with any
termination of employment. No amounts earned pursuant to the Plan or any Award shall be deemed to
be eligible compensation in respect of any other plan of Wyndham Worldwide Corporation or any of
its subsidiaries.

     7. Governing Law. This Agreement and the legal relations between the parties shall be
governed by and construed in accordance with the internal laws of the State of Delaware, without
effect to the conflicts of laws principles thereof.

     8. Tax Obligations. As a condition to the granting of the Award and the vesting thereof, the
Grantee agrees to remit to the Company or any of its applicable subsidiaries such sum as may be
necessary to discharge the Company’s or such subsidiary’s obligations with respect to any tax,
assessment or other governmental charge imposed on property or income received by the Grantee
pursuant to this Agreement and the Award. Accordingly, the Grantee agrees to remit to the Company
or applicable subsidiary any and all required minimum withholding taxes. Such payment shall be
made to the Company or any applicable subsidiary of the Company in a form that is reasonably
acceptable to the Company, as the Company may determine in its sole discretion.

     9. Notices. Any notice required or permitted under this Agreement shall be deemed given when
delivered personally, or when deposited in a United States Post Office, postage prepaid, addressed,
as appropriate, to the Grantee at the last address specified in Grantee’s employment records, or
such other address as the Grantee may designate in writing to the Company, or the Company,
Attention: General Counsel, or such other address as the Company may designate in writing to the
Grantee.

     10. Failure to Enforce Not a Waiver. The failure of the Company to enforce at any time any
provision of this Agreement shall in no way be construed to be a waiver of such provision or of any
other provision hereof.

     11. Amendments. This Agreement may be amended or modified at any time by an instrument in
writing signed by the parties hereto.

2

 

     12. Authority. The Compensation Committee of the Board of Directors of the Company shall have
full authority to interpret and construe the terms of the Plan and this Agreement. The
determination of the Committee as to any such matter of interpretation or construction shall be
final, binding and conclusive on all parties.

     13. Rights as a Stockholder. The Grantee shall have no rights as a stockholder of the Company
with respect to any shares of Stock underlying or relating to any Award until the issuance of Stock
to the Grantee in respect of such Award; provided, however, that in the event the Board of
Directors of the Company shall declare a dividend on the Stock, a dividend equivalent equal to the
per share amount of such dividend shall be credited on all Restricted Stock Units underlying the
Award and outstanding on the record date for such dividend, such dividend equivalents to be payable
in cash without interest on the vesting date of the Restricted Stock Units on which the dividend
equivalents were credited and shall otherwise be subject to the same terms and conditions as the
Restricted Stock Units on which the dividend equivalents were credited.

     IN WITNESS WHEREOF, this Agreement is effective as of the date first above written.

	 	 	 	 	 
	 	Wyndham Worldwide Corporation

 	 
	 	By:  	 	 
	 	 	Stephen P. Holmes 	 
	 	 	Chairman and Chief Executive Officer 	 
	 

3

 

EXHIBIT A (RSUs)

Wyndham Worldwide Corporation

2006 Equity and Incentive Plan

Statement of Restricted Stock Units (RSUs) Award

	 	 	 	 	 
	Granted To:

	 	Employee Name	 	 
	 

	 	Address	 	 
	 

	 	City, State Zip	 	 
	 
	 	 	 	 
	Award Date:

	 	xx/xx/xxxx	 	 
	Number of RSUs Granted (*):

	 	xxx,xxx	 	 
	 
	 	 	 	 
	Actual RSUs Award Grant Value:

	 	$x,xxx.xx
	 	(Units Granted x Dollar Value per Unit)
	 
	 	 	 	 
	* Determined by dividing your Allocated LTIP Award Dollars by the Wyndham Worldwide closing stock
price on the award date and rounded down to the nearest whole unit.
	 
	 	 	 	 
	 

	 	Vesting Date
	 	Vesting
	 

	 	 	 	RSUs
	 

	 	xx/xx/xxxx
	 	xx%
	 

	 	xx/xx/xxxx
	 	xx%
	 

	 	xx/xx/xxxx
	 	xx%
	 

	 	xx/xx/xxxx
	 	xx%
	 
	 	 	 	 
	RSU Dollar Value per Unit: $xx.xx
	 	 	 	 

     RETAIN THIS NOTIFICATION AND YOUR RESTRICTED STOCK UNIT AGREEMENT WITH YOUR IMPORTANT DOCUMENTS AS A
RECORD OF THIS AWARD.

     Subject to the terms and conditions of the Wyndham Worldwide Corporation 2006 Equity and Incentive
Plan, you have been awarded Restricted Stock Units. The vesting referenced above is subject to you
remaining continuously employed with Wyndham Worldwide Corporation through each respective vesting
date (see grant agreement).

     Please review the spelling of your name and your address. If any of this information is incorrect,
please contact the Wyndham Worldwide Stock Plan Administration Department at (973) 753-7001.EX-10.55

 

Exhibit 10.55

WYNDHAM WORLDWIDE CORPORATION

2006 EQUITY AND INCENTIVE PLAN

FORM OF AWARD AGREEMENT — STOCK APPRECIATION RIGHTS

     Award Agreement (this “Agreement”), dated as of xx/xx/xxxx, by and between Wyndham
Worldwide Corporation, a Delaware corporation (the “Company”), and the grantee indicated on Exhibit
A attached hereto (the “Grantee”), pursuant to the terms and conditions of the Wyndham Worldwide
Corporation 2006 Equity and Incentive Plan (the “Plan”).

     In consideration of the provisions contained in this Agreement, the Company and the Grantee
agree as follows:

     1. The Plan. The Award granted to the Grantee hereunder is pursuant to the Plan. A copy of
the Plan and a prospectus for the Plan are attached hereto and the terms of the Plan are hereby
incorporated into this Agreement. Terms used in this Agreement which are not defined in this
Agreement shall have the meanings used or defined in the Plan.

     2. Award. Concurrently with the execution of this Agreement, subject to the terms and
conditions set forth in the Plan and this Agreement, the Company hereby grants a Stock Appreciation
Right relating to the number of shares of Stock indicated on Exhibit A attached hereto (the
“Award”) to the Grantee, with an “Exercise Price Per Share” as indicated on Exhibit A attached
hereto, which, upon exercise, shall be settled by the Company in shares of Stock. The Award has
been granted as of the date hereof and shall terminate on the Expiration Date specified on Exhibit
A attached hereto, subject to earlier termination as provided herein and in the Plan. Upon the
termination or expiration of the Award, all rights of the Grantee in respect of this Award
hereunder shall cease. Subject to the provisions of the Plan and this Agreement, the Award shall
vest in accordance with the schedule set forth on Exhibit A attached hereto and as further
described in Section 3 below.

     Upon the Grantee’s exercise of the Award, in whole or in part, the Grantee shall receive from
the Company, a number of shares of Stock determined by taking the excess (if any) of (i) the
aggregate Fair Market Value of all of the Stock subject to the Award or portion thereof being
exercised (determined as of the time of exercise), less (ii) the aggregate “exercise price per
share” of all of the Stock subject to the Award or portion thereof being exercised, and dividing
the result by the Fair Market Value of one share of Stock determined as of the time of exercise.

     3. Schedule of Lapse of Restrictions. Subject to Paragraph 4 below, the Award granted
hereunder shall vest in the manner set forth on Exhibit A attached hereto, subject to the Grantee’s
continuous employment with the Company through each respective vesting date. Upon (i) a Change in
Control, (ii) the Grantee’s termination of employment by reason of death or Disability or (iii) if
applicable, such other event as set forth in the Grantee’s written agreement of employment with the
Company, the Award shall become immediately and fully vested, subject to any terms and conditions
set forth in the Plan and imposed by the Committee.

 

 

     4. Termination of Employment. Notwithstanding any other provision of the Plan to the
contrary, and, if applicable, subject to Grantee’s written agreement of employment with the
Company, upon the termination of the Grantee’s employment with the Company and its subsidiaries for
any reason whatsoever (other than death or Disability), the Award, to the extent not yet vested,
shall immediately and automatically terminate. Further, upon the termination of the Grantee’s
employment with the Company and its subsidiaries for any reason, and if applicable, subject to
Grantee’s written agreement of employment with the Company, the Grantee shall have the right to
exercise the Award, to the extent vested, for a period of one year immediately following such
termination of employment, and after such one year period the Award shall immediately and
automatically terminate without notice to the Grantee.

     5. Award Provisions. The Award may only be exercised in accordance with the terms of the Plan
and the administrative procedures established by the Company and/or the Committee from time to
time, and may be exercised at such times permitted by the Company in its sole discretion. The
exercise of the Award is subject to the Grantee making appropriate tax withholding arrangements
with the Company in accordance with the terms of the Plan and the administrative procedures
established by the Company and/or the Committee from time to time. The Award is subject to
adjustment in the event of certain changes in the capitalization of the Company, to the extent set
forth in the Plan.

     6. No Assignment. This Agreement (and the Award) may not be assigned by the Grantee by
operation of law or otherwise.

     7. No Rights to Continued Employment; Loss of Office. Neither this Agreement nor the Award
shall be construed as giving the Grantee any right to continue in the employ of the Company or any
of its subsidiaries, or shall interfere in any way with the right of the Company to terminate such
employment. Notwithstanding any other provision of the Plan, the Award, this Agreement or any other
agreement (written or oral) to the contrary, for purposes of the Plan and the Award, a termination
of employment shall be deemed to have occurred on the date upon which the Grantee ceases to perform
active employment duties for the Company following the provision of any notification of termination
or resignation from employment, and without regard to any period of notice of termination of
employment (whether expressed or implied) or any period of severance or salary continuation.
Notwithstanding any other provision of the Plan, the Award, this Agreement or any other agreement
(written or oral) to the contrary, the Grantee shall not be entitled (and by accepting an Award,
thereby irrevocably waives any such entitlement), by way of compensation for loss of office or
otherwise, to any sum or other benefit to compensate the Grantee for the loss of any rights under
the Plan as a result of the termination or expiration of an Award in connection with any
termination of employment. No amounts earned pursuant to the Plan or any Award shall be deemed to
be eligible compensation in respect of any other plan of Wyndham Worldwide Corporation or any of
its subsidiaries.

     8. Governing Law. This Agreement and the legal relations between the parties shall be
governed by and construed in accordance with the internal laws of the State of Delaware, without
giving effect to the conflicts of laws principles thereof.

2

 

     9. Tax Obligations. As a condition to the granting of the Award and the vesting
thereof, the Grantee agrees to remit to the Company or any of its applicable subsidiaries
such sum as may be necessary to discharge the Company’s or such subsidiary’s obligations
with respect to any tax, assessment or other governmental charge imposed on property or
income received by the Grantee pursuant to this Agreement and the Award. Accordingly, the
Grantee agrees to remit to the Company or an applicable subsidiary any and all required
minimum withholding taxes. Such payment shall be made to the Company or any applicable
subsidiary of the Company in a form that is reasonably acceptable to the Company, as the
Company may determine in its sole discretion.

     10. Notices. Any notice required or permitted under this Agreement shall be deemed
given when delivered personally, or when deposited in a United States Post Office, postage
prepaid, addressed, as appropriate, to the Grantee at the last address specified in
Grantee’s employment records, or such other address as the Grantee may designate in writing
to the Company, or the Company, Attention: General Counsel, or such other address as the
Company may designate in writing to the Grantee.

     11. Failure to Enforce Not a Waiver. The failure of the Company to enforce at any
time any provision of this Agreement shall in no way be construed to be a waiver of such
provision or of any other provision hereof.

     12. Amendments. This Agreement may be amended or modified at any time by an
instrument in writing signed by the parties hereto.

     13. Authority. The Compensation Committee of the Board of Directors of Wyndham
Worldwide Corporation shall have full authority to interpret and construe the terms of the
Plan and this Agreement. The determination of the Committee as to any such matter of
interpretation or construction shall be final, binding and conclusive on all parties,
including the Grantee.

     14. Rights as a Stockholder. The Grantee shall have no rights as a stockholder of the
Company with respect to any shares of Stock underlying or relating to the Award until the
issuance of Stock to the Grantee in respect of such Award.

     15. Blackout Periods. The Grantee acknowledges that, from time to time as determined
by the Company in its sole discretion, the Company may establish “blackout periods” during
which this Award may not be exercised. The Company may establish a blackout period for any
reason or for no reason.

     16. Succession and Transfer. Each and all of the provisions of this Award Agreement
are binding upon and inure to the benefit of the Company and the Grantee and their
respective estate, successors and assigns, subject to any limitations on transferability
under applicable law or as set forth in the Plan or herein.

3

 

     IN WITNESS WHEREOF, this Agreement is effective as of the date first above written.

	 	 	 	 	 
	 	Wyndham Worldwide Corporation

 	 
	 	By:  	 	 
	 	 	Stephen P. Holmes 	 
	 	 	Chairman, President and CEO 	 
	 

4

 

EXHIBIT A (RSUs and SSARs)

Wyndham Worldwide Corporation

2006 Equity and Incentive Plan

Statement of Stock Settled Stock Appreciation Rights (SSARs) and

Restricted Stock Units (RSUs) Award

	 	 	 	 	 
	Granted To:
	 	Name	 	 
	 
	 	Address 1	 	 
	 
	 	Address 2	 	 
	 
	 	 	 	 
	Award Date:
	 	xx/xx/xxxx	 	 
	Number of SSARs Granted (*):
	 	xxx,xxx	 	 
	Number of RSUs Granted (**):
	 	xxx,xxx	 	 
	 
	 	 	 	 
	Actual SSARs Award Grant Value:
	 	$x,xxx,xxx	 	(Units Granted x Black-Scholes Value per Unit)
	Actual RSUs Award Grant Value:
	 	$x,xxx,xxx	 	(Units Granted x Dollar Value per Unit)
	 
	 	 	 	 
	Total Grant Value
	 	$x,xxx,xxx	 	 

* Determined by dividing your Allocated LTIP Award SSARs Dollars by the Wyndham Worldwide
Black-Scholes value on the award date, rounded down to the nearest whole unit. The award will
expire on xx/xx/xxxx.

** Determined by dividing your Allocated LTIP Award RSUs Dollars (Total Allocated LTIP Dollars
less Actual -SSARs Award Grant Value) by the Wyndham Worldwide closing stock price on the award
date and rounded down to the nearest whole unit.

	 	 	 	 	 
	Vesting Date

xx/xx/xxxx 

xx/xx/xxxx 

xx/xx/xxxx 

xx/xx/xxxx
	 	Vesting

RSUs

xx%

xx%

xx%

xx%
	 	Vesting

SSARs

xx%

xx%

xx%

xx%

RSU Dollar Value per Unit = $xx.xx

SSAR Black-Scholes Value per Unit = $xx.xx; Exercise Price Per Share = $xx.xx

RETAIN THIS NOTIFICATION AND YOUR RESTRICTED STOCK UNIT AGREEMENT WITH YOUR IMPORTANT DOCUMENTS AS A
RECORD OF THIS AWARD.

Subject to the terms and conditions of the Wyndham Worldwide Corporation 2006 Equity and Incentive
Plan, you have been awarded Restricted Stock Units and Stock Settled Stock Appreciation Rights.
The vesting referenced above is subject to you remaining continuously

 

 

employed with Wyndham Worldwide Corporation through each respective vesting date (see grant
agreement).

Please review the spelling of your name and your address. If any of this information is incorrect,
please contact the Wyndham Worldwide Stock Plan Administration Department at (973) 753-7001.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}]]