Document:

exv10w1

 

Exhibit 10.1

SYSCO CORPORATION

2005 NON-EMPLOYEE DIRECTORS STOCK PLAN

RETAINER STOCK AWARD AGREEMENT

     This Retainer Stock Award Agreement (“Agreement”) was made and entered into as of ___,
200___(“Date of Grant”), by and between Sysco Corporation, a Delaware corporation (hereinafter
“SYSCO”), and ___, a director of SYSCO (hereinafter “Director”).

W I T N E S S E T H:

     WHEREAS, the Board of Directors of SYSCO has adopted, and SYSCO’s stockholders have approved,
the Sysco Corporation 2005 Non-Employee Directors Stock Plan (the “Plan”), the purpose of which is
to promote the interests of SYSCO and its stockholders by enhancing SYSCO’s ability to attract and
retain the services of experienced and knowledgeable directors and by encouraging such directors to
acquire an increased proprietary interest in SYSCO through the ownership of common stock, $1.00 par
value, of SYSCO (“Common Stock”); and

     WHEREAS, the Plan provides that, as of the date of each of SYSCO’s Annual Meeting of
Stockholders, each non-employee director who was not a member of the Board of Directors of SYSCO at
the previous Annual Meeting of Stockholders and who has never received a retainer stock award under
any non-employee director compensation plan or arrangement of SYSCO shall be granted a Retainer
Stock Award consisting of 6,000 shares of SYSCO Common Stock; and

     WHEREAS, Director is a non-employee member of the Board of Directors as of the date hereof,
has never received a retainer stock award under any non-employee director compensation plan or
arrangement of SYSCO, desires to serve on the Board of Directors of SYSCO and desires to accept an
award of restricted stock in accordance with the terms and provisions of the Plan and this
Agreement;

     NOW, THEREFORE, in consideration of the foregoing, the parties agree as follows:

	1.	 	GRANT OF RETAINER STOCK AWARD.

     SYSCO, as authorized by the Board of Directors, hereby grants to Director 6,000 shares of
restricted Common Stock (the “Retainer Stock Award”) pursuant to the provisions of the Plan. The
Retainer Stock Award shall be subject to vesting as set forth in the Plan and summarized below:

	 	(a)	 	One-third of the Retainer Stock Award shall vest on the
anniversary of the Date of Grant.
	 
	 	(b)	 	An additional one-third of the Retainer Stock Award shall vest
on the second anniversary of the Date of Grant.
	 
	 	(c)	 	The final one-third of the Retainer Stock Award shall vest on
the third anniversary of the Date of Grant.
	 
	 	(d)	 	Any unvested portion of a Retainer Stock Award shall vest upon
the occurrence of a Change in Control. For purposes of this Agreement, “Change
in Control” means that a person or persons who are acting together for the
purpose of acquiring an equity interest in SYSCO acquire beneficial ownership
(as defined in Rule 13d-3 promulgated under the Securities Exchange Act of
1934, as amended) of 20% or more of the outstanding Common Stock.

 

 

	2.	 	RESTRICTION ON TRANSFER.

     The restricted Common Stock granted as a Retainer Stock Award and the shares of SYSCO Common
Stock received pursuant to this Agreement shall not be sold, pledged, assigned, transferred, or
encumbered prior to the time the Retainer Stock Award vests as described herein.

	3.	 	DEPOSIT WITH SYSCO.

     Each certificate of Retainer Stock Award awarded hereunder shall be registered in the name of
the Director and left, prior to its vesting, on deposit with SYSCO with a stock power endorsed in
blank. Each such certificate will contain the following legend:

The sale or other transfer of the shares of stock represented by
this certificate, whether voluntary, involuntary, or by operation of
law, is subject to certain restrictions on transfer as set forth in
the SYSCO Corporation 2005 Non-Employee Directors Stock Plan, and in
the associated Award Agreement. A copy of the Plan and such Award
Agreement may be obtained from SYSCO Corporation.

	4.	 	CERTAIN RIGHTS OF DIRECTOR.

     Except as otherwise set forth herein, Director, as owner of shares of restricted Common Stock
granted as a Retainer Stock Award, shall have all the rights of a stockholder, including, but not
limited to, the right to vote such shares and the right to receive all dividends paid with respect
to such shares; provided, that all such rights shall be forfeited in respect to any portion of the
Retainer Stock Award as of the date all or any portion of such award is forfeited.

	5.	 	CESSATION OF SERVICE.

     Except as set forth below and unless otherwise determined by the Board, if Director ceases to
be a Non-Employee Director (as defined in the Plan) prior to the vesting of any portion of the
Retainer Stock Award, Director shall forfeit the portion of the Retainer Stock Award which is not
vested on the date he ceases to be a Non-Employee Director; provided, however, that unless
otherwise determined by the Board, if (a) Director serves out his or her term but does not stand
for re-election at the end thereof, or (b) Director shall retire from service on the Board (for
reasons other than death) prior to the expiration of his or her term and on or after the date he or
she attains age 71, Director’s Retainer Stock Award shall remain in effect and vest, as if Director
had remained a Non-Employee Director of SYSCO. Upon the death of Director, any unvested portion of
the Retainer Stock Award shall vest.

	6.	 	ADJUSTMENT TO AWARD IN CERTAIN EVENTS.

     In the event of a change in the capitalization of SYSCO due to a stock split, stock dividend,
recapitalization, merger, consolidation, combination, or similar event, the aggregate shares
subject to this Agreement shall be adjusted to reflect such change.

	7.	 	NO COMPROMISE WITH REGULATORY AUTHORITY.

     Notwithstanding any other provision of this Agreement, Director agrees that SYSCO shall not be
obligated to deliver any shares of Common Stock, if counsel to SYSCO determines such delivery would
violate any law or regulation of any governmental authority or agreement between SYSCO and any
national securities exchange upon which the Common Stock is listed.

 

 

	8.	 	PLAN CONTROLS.

     In the event of a conflict between the terms of this Agreement and the Plan, the Plan shall be
the controlling document.

	9.	 	END OF RESTRICTIONS; DELIVERY OF STOCK.

     If all terms and conditions of this Agreement are complied with in full, all
restrictions on the Retainer Stock Award referred to herein shall lapse and the Director
shall receive the certificate representing such shares of SYSCO Common Stock.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first above written.

	 	 	 	 	 
	 	SYSCO CORPORATION

 	 
	 	By:  	Richard J. Schnieders
 	 
	 	 	Chairman, Chief Executive Officer and President 	 
	 	 	 	 
	 
	 	DIRECTOR

 

[Name]<PAGE>

                                                                   EXHIBIT 10.21

                   NON-EMPLOYEE DIRECTOR COMPENSATION SUMMARY
                         OIL STATES INTERNATIONAL, INC.

Non-employee directors of Oil States International, Inc. receive the following
compensation:

    o   Annual retainer of $30,000 for board membership, paid quarterly in
        arrears

    o   Annual retainer of $50,000 for service as the Chairman of the Board of
        the Company

    o   Annual retainer of $15,000 for service as the Audit Committee
        Chairperson, paid quarterly in arrears

    o   Annual retainer of $10,000 for service as the Compensation or Nominating
        and Corporate Governance Committee Chairperson, payable quarterly in
        arrears

    o   Annual retainer of $7,500 for service as a member of the Audit
        Committee, other than Chairperson, payable quarterly in arrears

    o   Annual retainer of $5,000 for service as a member of the Compensation or
        Nominating and Corporate Governance Committees, other than a
        Chairperson, payable quarterly in arrears

    o   Meeting fees

        o   $1,500 for each Board meeting attended

        o   $1,500 for each Committee meeting attended

    o   Reimbursement for expenses incurred in attending meetings

    o   Participation in the Company's 2001 Equity Participation Plan, as
        Amended February 16, 2005

   Under the current policy adopted by the Compensation Committee of the Board
   of Directors on May 18, 2005, each non-employee director will receive an
   annual restricted stock award equal to $75,000. The award will be made each
   year on the date of the Annual Shareholders' meeting. The number of shares
   awarded will be based on the closing price of the Company's common stock on
   the date of the award. Such restricted stock awards will vest on the day
   prior to the next year's Annual Shareholders' meeting. In the event of a
   change in control, the awards vest in accordance with the terms of the award
   agreements.

   The new policy established a guideline that 65% of the number of shares of
   restricted stock awarded may not be sold, assigned, pledged, or otherwise
   transferred, encumbered or disposed of until the earlier of (i) the date six
   months after termination of the non-employee director's services on the
   Board, (ii) the occurrence of a Change of Control (as determined under the
   Plan) or (iii) the death or disability of the
   non-employee director.

   All of the Company's directors are reimbursed for reasonable out-of-pocket
   expenses incurred in attending meetings of the Board of Directors or
   committees and for other reasonable expenses related to the performance of
   their duties as directors. Directors may also participate in the Company's
   nonqualified deferred compensation plan that permits a participant to defer
   all or a part of his or her cash compensation from the Company until the
   termination of his or her status as a director.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]