Document:

ex10_6.htm

    
      	
              Exhibit
      10.6

            
	 
      

    

    
      	
              ITRON,
      INC.

            
	
              AMENDED
      AND RESTATED 2000 STOCK INCENTIVE
PLAN

            

    

    
      	
               

              RESTRICTED
      STOCK UNIT AWARD NOTICE

            

    

    
      	
              FOR
      PARTICIPANTS IN FRANCE

            
	 
      

    

    
      	
               

              Itron,
      Inc. (the "Company")
      hereby grants to Participant a restricted stock unit award (the "Award").  The
      Award is subject to all the terms and conditions set forth in this
      Restricted Stock Unit Award Notice (the "Award
      Notice"), the Restricted Stock Unit Award Agreement (the
      “Agreement”) and the Itron, Inc. Amended and Restated 2000 Stock Incentive
      Plan (the "Plan"),
      all of which are incorporated into the Award Notice in their
      entirety.

            

    

    
      	 
      

    

    
      	
               

              Participant:

            
	
              Grant
    Date:

            
	
              Number of Restricted Stock
      Units:

            

    

    
      	
              Vesting Schedule: 
      The Award will vest in full on the second anniversary of the Grant
      Date ("Vesting
      Date").

            
	
              Holding Period: From _________, 20__
      until ________, 20__ inclusive (2 years from Vesting Date), or such other
      period applicable under French law.

            

    

    
      	 
      
	
              Additional
      Terms/Acknowledgement:  This Award is subject to all the
      terms and conditions set forth in this Award Notice, the Agreement, and
      the Plan which are attached to and incorporated into this Award Notice in
      their entirety.

            

    

    
      	 
      

    

    
      	
              I
      accept this award subject to the terms and

            
	
              conditions
      stated herein.

            

    

    
      	 
      

    

    
      	
               

              Attachments:

            
	
              1.  Restricted
      Stock Unit Award Agreement

            
	
              2.  Plan
      Summary

            
	
              3.  Stock
      Incentive Plan

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              ITRON,
      INC.

            
	
              AMENDED
      AND RESTATED 2000 STOCK INCENTIVE
PLAN

            

    

    
      	
               

              RESTRICTED
      STOCK UNIT AWARD AGREEMENT

            

    

    
      	
              FOR
      PARTICIPANTS IN FRANCE

            

    

    
      	
               

              Pursuant
      to your Restricted Stock Unit Award Notice (the "Award
      Notice") and this Restricted Stock Unit Award Agreement (the "Agreement"),
      Itron, Inc. (the "Company")
      has granted you a Restricted Stock Unit Award (the "Award")
      under its Amended and Restated 2000 Stock Incentive Plan (the "Plan")
      for the number of restricted stock units indicated in your Award
      Notice.  Capitalized terms not expressly defined in this
      Agreement but defined in the Plan shall have the same definitions as in
      the Plan.

               

            

    

    
      	
               

              The
      following has been established for the purpose of granting you an Award
      which qualifies for the favorable tax and social security treatment in
      France applicable to shares granted for no consideration under Sections L.
      225-197-1 to L. 225-197-5 of the French Commercial Code, as amended, to
      eligible individuals who are resident in France for French tax purposes
      and/or subject to the French social security regime (a "French-Qualified
      Award").

               

            

    

    
      	
               

              However,
      certain events may affect the status of the Award as a French-Qualified
      Award and the Award may be disqualified in the future.  The
      Company does not make any undertaking or representation to maintain the
      French-qualified status of the Award.  If the Award no longer
      qualifies as a French-Qualified Award, the favorable tax and social
      security treatment will not apply and you will be required to pay your
      portion of social security contributions resulting from the
      Award.

               

            

    

    
      	
               

              Moreover,
      if you relocate to another country, any special terms and conditions
      applicable to restricted stock unit awards granted in such country will
      apply to you, to the extent the Company determines that the application of
      such terms and conditions is necessary or advisable in order to comply
      with local law or facilitate the administration of the Plan.

               

            

    

    
      	
               

              In
      addition, the Company reserves the right to impose other requirements on
      the Award and any shares of Common Stock acquired under the Plan, to the
      extent the Company determines it is necessary or advisable in order to
      comply with local law or facilitate the administration of the Plan, and to
      require you to sign any additional agreements or undertakings that may be
      necessary to accomplish the foregoing.

               

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               

              The
      details of the Award are as follows:

               

            

    

    
      	 
      

    

    
      	
              1.  

            	
              Definitions

            

    

     

    
      	
               

              The
      following additional terms shall be defined as
  follows:

            

    

    
      	
               

              "Disability"
      means disability as determined in categories 2 and 3 under Section 341-4
      of the French Social Security Code, as amended, and subject to the
      fulfillment of related conditions.

            

    

    
      	
               

              "Holding
      Period" means the 2-year period starting on the Vesting Date (or
      such other period as is required to comply with the minimum mandatory
      holding period applicable to shares underlying a French-Qualified Award
      under Section L. 225-197-1 of the French Commercial Code, as amended, or
      under the relevant sections of the French Tax Code of the French Security
      Code, as amended) during which the Participant shall hold the shares of
      Common Stock issued pursuant to the vesting of the Award in order to
      benefit from the favorable tax and social security regime in
      France.

            
	
               "French
      Subsidiaries" means all the French subsidiaries of the Company
      within the meaning of Section L. 225-197-2 of the French Commercial Code
      or any provision substituted for
same.

            

    

     

    
      	
              2.  

            	
              Eligibility
      to Participate

            

    

     

    (a) Subject
to Section 2(c) below, any individual who, on the Grant Date of the Award and to
the extent required under French law, is employed under the terms and conditions
of an employment contract (“contrat de travail”) by a
French Subsidiary or who is a corporate officer of a French Subsidiary (subject
to Section 2(c) below) shall be eligible to receive, at the discretion of the
Plan Administrator, a French-Qualified Award, provided he or she also satisfies
the eligibility conditions of Section 5 of the Plan.

     

    (b) French-Qualified
Awards may not be issued to a corporate officer of a French Subsidiary, other
than the managing corporate officers (i.e., Président du Conseil
d’Administration, Directeur Général, Directeur Général Délégué,
Membre du Directoire,
Gérant de Sociétés par
actions), unless the corporate officer is employed by a French
Subsidiary, as defined by French law.

     

    (c) French-Qualified
Awards may not be issued to Participants owning more than ten percent (10%) of
the Company’s share capital or to individuals other than employees and corporate
executives of a French Subsidiary, as set forth in this Section 2.

     

    
      	
              3.  

            	
              Vesting

            

    

     

    
      	
               

              The
      Award will vest according to the vesting schedule set forth in the Award
      Notice (the "Vesting
      Schedule"). One share of
      Common Stock will be issuable for each restricted stock unit that
      vests.  Restricted stock units that have vested and are no
      longer subject to forfeiture according to the Vesting Schedule are
      referred to herein as "Vested
      Units."  Restricted
      stock units that have not vested and remain subject to forfeiture under
      the Vesting Schedule are referred to herein as "Unvested
      Units."  The
      Unvested Units will vest (and to the extent so vested cease to be Unvested
      Units remaining subject to forfeiture) in accordance with the Vesting
      Schedule (the Unvested and Vested Units are collectively referred to
      herein as the "Units").

            

    

    
      	
               

              Unless
      otherwise provided in this Agreement, as soon as practicable after the
      Vesting Date, the Company will settle the Vested Units by issuing to you
      one share of Common Stock for each Vested
Unit.

            

    

    
      	
               

              The
      Award will terminate and the Unvested Units will be subject to forfeiture
      upon your termination of employment as set forth in Section 6 and as
      further described in Section 12(l) below.

               

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              4.  

            	
              Non-Transferability

            

    

     

    
      	
               

              Notwithstanding
      any provision in the Plan to the contrary, except in the case of death,
      the Units shall not be transferred to any third party other than your
      heirs and the shares of Common Stock shall be issued only to you during
      your lifetime.

               

            

    

     

    
      	
              5.  

            	
              No
      Rights as Shareholder

            

    

     

    
      	
               

              You
      shall not have voting, dividends rights or other rights as a shareholder
      of the Company with respect to the Units.

               

            

    

     

    
      	
              6.  

            	
              Termination
      of Employment; Corporate
Transaction

            

    

     

    
      	
              6.1  

            	
              Termination
      of Employment.

            

    

     

    
      	
               

              Except
      as provided in Section 6.2 below, if your employment terminates during the
      Units' vesting period by reason of Disability or Retirement, the Unvested
      Units will vest pro-rata, based on the number of calendar days of
      employment with the Company or a Related Corporation during the vesting
      period, rounded down to the nearest whole number.

               

            

    

    
      	
               

              In
      case of your Retirement, the Units
      that become Vested Units as a result of such pro-rata vesting will not be
      settled in shares of Common Stock until the date such Units would
      otherwise have been settled in accordance with the Vesting
      Schedule.

               

            

    

    
      	
               

              In
      the event of your Disability, the
      Units that become Vested Units as a result of such pro-rata vesting will
      be settled to you within a reasonable period following the acknowledgement
      by the Company/the French Subsidiary of the Disability. You shall not be
      bound by the Holding Period.

            
	
               

              Except
      as provided in Section 6.2 below, if your employment terminates during the
      Units' vesting period by reason of death, the Units will become transferable
      to your heirs.  The Company will issue the shares of Common
      Stock subject to the Units to your heirs upon their request, provided they
      contact the Company within six (6) months following your
      death.  If your heirs do not request the issuance of the shares
      of Common Stock within six (6) months of your death, the Units will be
      forfeited to the Company.  Your heirs shall not be bound by the
      Holding Period.

               

            

    

    
      	
               

              If
      your employment terminates for reasons other than death, Disability or
      Retirement, any Unvested Units will be forfeited to the
      Company.

               

            

    

    
      	 
      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              6.2  

            	
              Corporate
      Transactions.

            

    

     

    
      	
               

              In
      the event of a Corporate Transaction as described in Section 14.3.1 of the
      Plan, the Plan Administrator may, in its discretion, authorize an
      adjustment to the terms and conditions of the Award or the underlying
      shares of Common Stock in accordance with the Plan and pursuant to
      applicable French legal and tax rules.  Nevertheless, the Plan
      Administrator, at its discretion, may decide to make adjustments which are
      not authorized under French law, in which case the Award may no longer
      qualify as a French-Qualified Award and the favorable tax and social
      security treatment for the Award may be
lost.

            

    

    
      	
               

              Assumption
      of the Award in the case of a Corporate Transaction, as well as an
      acceleration of vesting or the Holding Period or any other mechanism
      implemented upon a Corporate Transaction, or in any other event, to
      compensate you, may result in the Award no longer being eligible for the
      favorable French tax and social security regime.

               

            

    

     

    
      	
              7.  

            	
              Holding
      Period and Shareholding
Restrictions

            

    

     

    
      	
               

              Subject
      to the provisions of Section 6.1 above, you shall hold and keep the shares
      of Common Stock issued pursuant to the vesting of the Units during the
      Holding Period, even if you are no longer an employee or corporate
      officer, as applicable, of the French Subsidiary. As from the end of the
      Holding Period, the corresponding shares of Common Stock shall be freely
      transferable, subject to applicable legal and regulatory provisions in
      force and in particular to the provisions of Section 8
    below.

            
	
              In
      addition, if you qualify as a managing corporate officer, as defined in
      Section 2(b) above, and you are subject to shareholding restrictions under
      French law, you must hold 20% of the shares of Common Stock issued upon
      vesting of the Units and you may not sell such shares until you cease to
      serve as a managing corporate officer.  To ensure compliance
      with any applicable shareholding restrictions, the Company may require
      that the shares of Common Stock be held with a broker appointed by the
      Company (or according to any procedure implemented by the Company) until
      you cease to be subject to the shareholding restrictions.

               

            

    

     

    
      	
              8.  

            	
              Closed
      Periods

            

    

     

    
      	
               

              As
      long as the Award and the shares of Common Stock issued upon vesting of
      the Units maintain their French-qualified status and to the extent such
      restriction is applicable under French law, the shares of Common Stock may
      not be sold during the "Closed
      Periods" defined in Section L. 225-197-1 of the French Commercial
      Code, as amended, which are currently: (a) ten quotation days before and
      after the disclosure to the public of the consolidated financial
      statements or the annual statements of the Company, and (b) any period
      during which the corporate management of the Company possesses material
      information which could, if disclosed to the public, significantly impact
      the quotation of the shares of Common Stock, until ten quotation days
      after the day such information is disclosed to the
  public.

            
	
              To
      ensure compliance with the Closed Periods and the Holding Period described
      in Section 7 above, the Company may require that the shares of Common
      Stock be held with a broker appointed by the Company (or according to any
      procedure implemented by the Company)  until such shares of
      Common Stock are sold.

               

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              9.  

            	
              Securities
      Law Compliance

            

    

     

    9.1 You
represent and warrant that you (a) have been furnished with a copy of the
prospectus for the Plan and all information which you deem necessary to evaluate
the merits and risks of receipt of the Award, (b) have had the opportunity
to ask questions and receive answers concerning the information received about
the Award and the Company, and (c) have been given the opportunity to
obtain any additional information you deem necessary to verify the accuracy of
any information obtained concerning the Award and the Company.

     

    9.2 You
hereby agree that you will in no event sell or distribute all or any part of the
shares of Common Stock that you receive pursuant to settlement of this Award
(the "Shares") unless (a) there is
an effective registration statement under the U.S. Securities Act of 1933, as
amended (the "Securities
Act") and any applicable state and foreign securities laws covering any
such transaction involving the Shares or (b) the Company receives an
opinion of your legal counsel (concurred in by legal counsel for the Company)
stating that such transaction is exempt from registration or the Company
otherwise satisfies itself that such transaction is exempt from
registration.  You understand that the Company has no obligation to
you to register the Shares with the U.S. Securities and Exchange Commission or
any foreign securities regulator and has not represented to you that it will so
register the Shares.

     

    9.3 You
confirm that you have been advised, prior to your receipt of the Shares, that
neither the offering of the Shares nor any offering materials have been reviewed
by any administrator under the Securities Act or any other applicable securities
act (the "Acts") and
that the Shares cannot be resold unless they are registered under the Acts or
unless an exemption from such registration is available.

     

    9.4 You
hereby agree to indemnify the Company and hold it harmless from and against any
loss, claim or liability, including attorneys' fees or legal expenses, incurred
by the Company as a result of any breach by you of, or any inaccuracy in, any
representation, warranty or statement made by you in this Agreement or the
breach by you of any terms or conditions of this Agreement.

     

    
      	
              10.  

            	
              Book
      Entry Registration of Shares

            

    

     

    
      	
               

              The
      Company will issue the Shares by registering the Shares in book entry form
      with the Company's transfer agent in your name and the applicable
      restrictions will be noted in the records of the Company's transfer agent
      and in the book entry system.

            

    

    
      	
               

              This
      book entry form will expressly stipulate to both you and the Company's
      transfer agent that the Shares are non-transferable during the entire
      Holding Period. You must accept this condition.

               

            

    

    
      	 
      

    

    
      	
              11.  

            	
              Responsibility
      for Taxes

            

    

     

    11.1 Regardless
of any action the Company or your employer (the "Employer")  takes
with respect to any or all income tax, social security, payroll tax or other
tax-related items related to your participation in the Plan and legally
applicable to you ("Tax-Related
Items"), you acknowledge that the ultimate liability for all Tax-Related
Items is and remains your responsibility and may exceed the amount actually
withheld by the Company and/or the Employer.  You further acknowledge
that the Company and the Employer (a) make no representations or undertakings
regarding the treatment of any Tax-Related Items in connection with any aspect
of the Award, including, but not limited to, the granting or vesting of the
Award, the settlement of Vested Units, the issuance of Shares upon settlement of
the Vested Units, the subsequent sale of Shares acquired upon settlement of the
Vested Units and the receipt of any dividends; and (b) do not commit to and are
under no obligation to structure the terms of the grant or any aspect of the
Award to reduce or eliminate your liability for Tax-Related Items or achieve any
particular tax result.  Further, if you have become subject to tax in
more than one jurisdiction between the Grant Date and the date of any relevant
taxable event, you acknowledge that the Company and/or the Employer (or former
employer, as applicable) may be required to withhold or account for Tax-Related
Items in more than one jurisdiction.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    11.2 Prior to
any relevant taxable or tax withholding event, as applicable, you will pay or
make adequate arrangements satisfactory to the Company and or the Employer to
satisfy all Tax-Related Items.

     

    (a) In this
regard, you hereby irrevocably appoint Fidelity or any brokerage firm designated
by the Company for such purpose (the "Agent") as
your Agent, and authorize the Agent, to:

     

    
      	
              (i)  

            	
              Sell
      on the open market at the then prevailing market price(s), on your behalf,
      as soon as practicable on or after the settlement date for any Vested
      Unit, the minimum number of Shares (rounded up to the next whole number)
      sufficient to generate proceeds to cover the Tax-Related Items and all
      applicable fees and commissions due to, or required to be collected by,
      the Agent;

            

    

     

    
      	
              (ii)  

            	
              Remit
      directly to the Company the cash amount necessary to cover the Tax-Related
      Items;

            

    

     

    
      	
              (iii)  

            	
              Retain
      the amount required to cover all applicable fees and commissions due to,
      or required to be collected by, the Agent, relating directly to the sale
      of Shares referred to in clause (i) above;
and

            

    

     

    
      	
              (iv)  

            	
              Remit
      any remaining funds to you.

            

    

     

    (b) Alternatively,
or in addition to or in combination with the withholding mechanism described in
Section 11.2(a), you authorize the Company and/or the Employer at their
discretion, to satisfy the obligations with regard to all Tax-Related Items
by:

     

    
      	
              (i)  

            	
              requiring
      you to pay to the Company or the Employer any amount of the Tax-Related
      Items; and/or

            

    

     

    
      	
              (ii)  

            	
              withholding
      any amount of the Tax-Related Items from your wages or other cash
      compensation paid to you by the Company and/or the Employer;
      and/or

            

    

     

    
      	
              (iii)  

            	
              withholding
      in Shares to be issued upon settlement of the Vested
  Units.

            

    

     

    (c) If the
amount withheld is greater than the actual Tax-Related Items, the difference
will be refunded to you as soon as practicable.  To avoid negative
accounting treatment, the Company may withhold or account for Tax-Related Items
by considering applicable minimum statutory withholding amounts or other
applicable withholding rates.  If the obligation for Tax-Related Items
is satisfied by withholding in Shares, for tax purposes, you will be deemed to
have been issued the full number of Shares subject to the Vested Units
notwithstanding that a number of the Shares are held back solely for the purpose
of paying the Tax-Related Items due as a result of any aspect of your
participation in the Plan.  The Company may refuse to issue or deliver
Shares to you if you fail to comply with your obligations in connection with the
Tax-Related Items.

     

     

    11.3 You
represent and warrant that you are not aware of any material, nonpublic
information with respect to the Company or any securities of the Company; you
are not subject to any legal, regulatory or contractual restriction which would
prevent the Agent from conducting sales as provided herein; you do not have, and
will not attempt to exercise, authority, influence or control over any sales of
Shares effected pursuant to Section 11.2(a); and you are entering into this
Agreement in good faith and not as part of a plan or scheme to evade the
prohibitions of Rule 10b5-1 (regarding trading of the Company’s securities on
the basis of material nonpublic information) under the U.S. Securities Exchange
Act of 1934, as amended (the "Exchange
Act").  It is the intent of the parties that this Agreement
comply with the requirements of Rule 10b5-1(c)(1)(i)(B) under the Exchange Act
and this Agreement will be interpreted to comply with the requirements of Rule
10b5-1(c) of the Exchange Act.

     

    
      	
               

              You
      understand that the Agent may effect sales as provided in Section 11.2(a)
      above jointly with sales for other employees of the Company and/or Related
      Corporations and that the average price for executions resulting from
      bunched orders will be assigned to your account.  In addition,
      you acknowledge that it may not be possible to sell Shares as provided by
      Section 11.2(a) due to (i) a legal or contractual restriction applicable
      to you or the Agent, (ii) a market disruption, or (iii) rules governing
      order execution priority on the NASDAQ or other exchange where the Shares
      may be traded.  In the event of the Agent’s inability to sell
      Shares, you will continue to be responsible for the Tax-Related
      Items.

            

    

     

    You
acknowledge that regardless of any other term or condition of this Agreement,
the Agent will not be liable to you for (a) special, indirect, punitive,
exemplary, or consequential damages, or incidental losses or damages of any
kind, or (b) any failure to perform or for any delay in performance that results
from a cause or circumstance that is beyond its reasonable control.

     

    You
hereby agree to execute and deliver to the Agent any other agreements or
documents as the Agent reasonably deems necessary or appropriate to carry out
the purposes and intent of Section 11.2(a) and this Section 11.3.  The
Agent is a third party beneficiary of Section 11.2(a) and this Section
11.3.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
              12.  

            	
              Nature of
      Grant

            

    

     

     

    In
accepting the grant, you acknowledge that:

     

    (a) the Plan
is established voluntarily by the Company, it is discretionary in nature and it
may be modified, amended, suspended or terminated by the Company at any
time;

     

    (b) the grant
of the Award is voluntary and occasional and does not create any contractual or
other right to receive future grants of restricted stock units, or benefits in
lieu of restricted stock units, even if restricted stock units have been granted
repeatedly in the past;

     

    (c) all
decisions with respect to future grants of restricted stock units, if any, will
be at the sole discretion of the Company;

     

    (d) your
participation in the Plan shall not create a right to further employment with
the Employer and shall not interfere with the ability of the Employer to
terminate your employment relationship at any time;

     

    (e) you are
voluntarily participating in the Plan;

     

    (f) the Award
and the Shares subject to the Award are an extraordinary item that does not
constitute compensation of any kind for services of any kind rendered to the
Company or the
Employer, and which is outside the scope of your employment contract, if
any;

     

    (g) the Award
and the Shares subject to the Award are not intended to replace any pension
rights or compensation;

     

    (h) the Award
and the Shares subject to the Award are not part of normal or expected
compensation or salary for any purposes, including, but not limited to,
calculating any severance, resignation, termination, redundancy, end of service
payments, bonuses, long-service awards, pension or retirement or welfare
benefits or similar payments and in no event should be considered as
compensation for, or relating in any way to, past services for the Company, the
Employer or any Related Corporation;

     

    (i) the grant
of the Award and your participation in the Plan will not be interpreted to form
an employment contract or relationship with the Company or any Related
Corporation;

     

    (j) the
future value of the underlying Shares is unknown and cannot be predicted with
certainty;

     

    (k) in
consideration of the grant of the Award, no claim or entitlement to compensation
or damages shall arise from termination of the Award or diminution in value of
the Shares underlying the Award resulting from termination of your employment by
the Company or the Employer (for any reason whatsoever and whether or not in
breach of local labor laws) and you irrevocably release the Company and the
Employer from any such claim that may arise; if, notwithstanding the foregoing,
any such claim is found by a court of competent jurisdiction to have arisen, you
shall be deemed irrevocably to have waived your entitlement to pursue such
claim;

     

    (l) in the
event of termination of your employment (whether or not in breach of local labor
laws), your right to vest in the Award, if any, will terminate effective as of
the date that you are no longer actively employed and will not be extended by
any notice period mandated under local law (e.g., active employment would
not include a period of “garden leave” or similar period pursuant to local law);
the Board (or a committee appointed by the Board) shall have the exclusive
discretion to determine when you are no longer actively employed for purposes of
the Award; and

     

    (m) the Award
and the benefits under the Plan, if any, will not automatically transfer to
another company in the case of a merger, take-over or transfer of
liability.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    13. No
Advice Regarding Grant

     

     

    The
Company is not providing any tax, legal or financial advice, nor is the Company
making any recommendations regarding your participation in the Plan or your
acquisition or sale of the underlying Shares.  You are hereby advised
to consult with your own personal tax, legal and financial advisors regarding
your participation in the Plan before taking any action related to the
Plan.  You acknowledge that you have either consulted with competent
advisors independent of the Company to obtain advice concerning the receipt of
the Award and the acquisition or disposition of any Shares to be issued pursuant
to the Award in light of your specific situation or had the opportunity to
consult with such advisors but chose not to do so.

     

     

    14. Data
Privacy

     

     

    You
hereby explicitly and unambiguously consent to the collection, use and transfer,
in electronic or other form, of your personal data as described in this
Agreement and any other Award materials by and among, as applicable, the
Employer, the Company and its Related Corporations for the exclusive purpose of
implementing, administering and managing your  participation in the
Plan.

     

    
      	
               

              You
      understand that the Company and the Employer may hold certain personal
      information about you, including, but not limited to, your name, home
      address and telephone number, date of birth, social insurance number or
      other identification number, salary, nationality, job title, any shares of
      stock or directorships held in the Company, details of all Awards or any
      other entitlement to shares of stock awarded, canceled, exercised, vested,
      unvested or outstanding in your favor, for the exclusive purpose of
      implementing, administering and managing the Plan
  (“Data”).

            

    

    
      	
               

              You
      understand that Data will be transferred to Fidelity or such other stock
      plan service provider as may be selected by the Company in the future,
      which is assisting the Company with the implementation, administration and
      management of the Plan.  You understand that the recipients of
      Data may be located in the United States or elsewhere, and that the
      recipients’ country (e.g., the United States) may have different data
      privacy laws and protections than France.  You understand that
      you may request a list with the names and addresses of any potential
      recipients of Data by contacting your local human resources
      representative.  You authorize the Company, Fidelity and any
      other possible recipients which may assist the Company (presently or in
      the future) with implementing, administering and managing the Plan to
      receive, possess, use, retain and transfer Data, in electronic or other
      form, for the sole purpose of implementing, administering and managing
      your participation in the Plan.  You understand that Data will
      be held only as long as is necessary to implement, administer and manage
      your participation in the Plan.  You understand that you may, at
      any time, view Data, request additional information about the storage and
      processing of Data, require any necessary amendments to Data or refuse or
      withdraw the consents herein, in any case without cost, by contacting in
      writing your local human resources representative.  You
      understand, however, that refusing or withdrawing your consent may affect
      your ability to participate in the Plan.  For more information
      on the consequences of your refusal to consent or withdrawal of consent,
      you understand that you may contact your local human resources
      representative.

               

            

    

     

    15. Electronic Delivery and
Participation

     

     

    The
Company may, in its
sole discretion, decide to deliver any documents related to current or future
participation in the Plan by electronic means.  You hereby consent to
receive such documents by electronic delivery and agree to participate in the
Plan through an on-line or electronic system established and maintained by the
Company or a third party designated by the Company.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    16. Language

     

    
      	
               

              If
      you have received this Agreement or any other document related to the Plan
      translated into a language other than English and if the meaning of the
      translated version is different from the English version, the English
      version will control.

               

            

    

    
      	
               

              By
      signing and submitting the Award Notice, you confirm that you have read
      and understood the documents relating to this Award (the
      Award Notice, the Plan and the Agreement) which were provided in the
      English language.  You accept the terms of these documents
      accordingly.

            
	
              En
      signant et en renvoyant la Notification d’Attribution,
      vous confirmez ainsi avoir lu et compris les documents relatifs à cette
      Attribution (la Notification d’Attribution, le Plan et ce Contrat
      d’attribution) qui ont été communiqués en langue anglaise.  Vous
      en acceptez les termes en connaissance de cause.

               

            

    

     

    17. General
Provisions

     

     

    17.1 Successors and
Assigns.  The provisions of this Agreement will inure to the
benefit of the successors and assigns of the Company and be binding upon you and
your heirs, executors, administrators, successors and assigns.

     

     

    17.2 Governing Law and Choice of
Venue.  The Award and the provisions of this Agreement will be
construed and administered in accordance with and governed by the laws of the
State of Washington without giving effect to such state’s principles of conflict
of laws.  For the purposes of litigating any dispute that arises under
this grant of this Agreement, the parties hereby submit to and consent to the
exclusive jurisdiction of the State of Washington and agree that such litigation
shall be conducted in the courts of Spokane County, Washington, or the federal
courts for the United States for the Eastern District of Washington, where this
grant is made and/or to be performed.

     

     

    17.3 Severability. The provisions of this
Agreement are severable and if any one or more provisions are determined to be
illegal or otherwise unenforceable, in whole or in part, the remaining
provisions shall nevertheless be binding and enforceable.

     

    
      	
               

              17.4           Notice.                       Any notice
      required or permitted hereunder shall be made in writing and sent to the
      following address:

               

            

    

    
      	
              Itron, Inc.

            
	
              Attn.  General
      Counsel

            
	
              2111 N. Molter
    Road

            
	
              Liberty Lake,
      WA  USA  99019

            

    

    
      	 
      

    

    
      	
               

              ********ex10_7.htm

    Exhibit
10.7

     

    

     

    

     

    EMPLOYEE
STOCK OPTION

     

    AMENDED
AND RESTATED 2000 STOCK INCENTIVE PLAN

     

    

     

    NON-QUALIFIED
STOCK OPTION GRANT NOTICE

     

    

     

    Itron,
Inc. (the "Company") hereby grants to Participant an Option (the "Option") to
purchase shares of the Company's Common Stock.

    

    Participant:

    Grant Date:

    Number of Shares Subject to
Option:

    Grant Price (per
Share):

    Option Expiration
Date:

    Type of
Option:                                                                                            
Nonqualified Stock
Option

     

    
      	
              Vesting and
      Exercisability Schedule:

            	
              33-1/3%
      of the Option will vest and become exercisable on the one-year anniversary
      of the Grant Date. An additional 33-1/3% of the Option will vest and
      become exercisable each year thereafter so that the entire Option will be
      fully vested and exercisable three years from the Grant
    Date.

            

    

     

     

    

     

    
      	
              Additional
      Terms:  The Option is subject to all the terms and
      conditions set forth in this Stock Option Grant Notice (this "Grant
      Notice"), the Stock Option Agreement, and the Company's Amended and
      Restated 2000 Stock Incentive Plan (the "Plan"), which are attached to and
      incorporated into this Grant Notice in their
  entirety.

            

    

     

    

     

     

    

     

    I accept
the Option subject to the terms and conditions

    stated
herein.

    

    

    Attachments:

    1.  Stock
Option Agreement

    2.  2000
Stock Incentive Plan

    3.  Plan
Summary

     

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              EMPLOYEE
      STOCK OPTION

            

    

    
      	
              AMENDED
      AND RESTATED 2000 STOCK INCENTIVE
PLAN

            

    

    
      	
               

              STOCK OPTION AGREEMENT

            
	 
      

    

    Pursuant
to your Stock Option Grant Notice (the "Grant Notice"), Itron,
Inc. has granted you an Option under its Amended and Restated 2000 Stock
Incentive Plan (the "Plan") to purchase the number of shares of the Company's
Common Stock (“Stock”) indicated in your Grant Notice (the "Shares") at the
Grant Price indicated in your Grant Notice.  Capitalized terms not
expressly defined in this Stock Option Agreement or the Grant Notice have the
same definitions as in the Plan.

     

    The
details of the Option are as follows:

     

    1.           Vesting and
Exercisability.  Subject to the limitations contained herein,
the Option will vest and become exercisable as provided in your Grant
Notice.

     

    2.           Securities Law
Compliance.  At the present time, the Company has an effective
registration statement with respect to the Shares.  The Company
intends to maintain this registration but has no obligation to do
so.  In the event that such registration ceases to be effective, you
will not be able to exercise the Option unless exemptions from registration
under federal and state securities laws are available, which exemptions from
registration are very limited and might be unavailable.  The exercise
of the Option must also comply with other applicable laws and regulations
governing the Option, and you may not exercise the Option if the Company
determines that such exercise would not be in material compliance with such laws
and regulations.

    

    3.           Method of
Exercise.  You may exercise the Option upon notice and payment
of the Grant Price by any of the following methods, unless disallowed by
law:

     

    (a)           broker
assisted exercise;

     

    (b)           Stock
already owned by you; or

     

    (c)           cash.

     

    You may elect to receive the proceeds
of the exercise in either cash or Stock.

     

    4.           Term of Option. This Option shall expire
ten years from the Grant Date thereof, but shall be subject to earlier
termination as follows:

     

    
      
        
          	
                  (a)           Unvested Options.  In the event
      Participant ceases to be an employee of the Company for any reason, the
      unvested portion of the Option shall terminate
  immediately.

                
	
                  (b)           Vested
Options.

                

        

      

    

    
      	 
      

    

    
      
        
          
            	
                    1)           In
      the event Participant ceases to be an employee of the Company for any
      reason other than death, Disability, Retirement, or Cause, the vested
      portion of the Option shall remain exercisable until the earlier of (i) 90
      days after the date the Participant ceases to be an employee of the
      Company or (ii) the date on which the Option expires by its
      terms.

                     

                  
	
                    2)           Death or Disability.  In the
      event of the death or Disability of the Participant while an employee of
      the Company, the vested portion of the Option shall remain exercisable
      until the earlier of (i) one year following the date of death or
      Disability of the Participant or (ii) the date on which the Option expires
      by its terms.  Upon death of Participant, the exercisable
      portion of the Option may be exercised by the personal representative of
      the Participant’s estate, the person(s) to whom the Participant’s rights
      under the Option have passed by will or the applicable laws of descent and
      distribution, or the beneficiary designated pursuant to the
      Plan.

                     

                  
	
                    3)           Retirement.  In the event of the
      Retirement of the Participant while an employee of the Company, the vested
      portion of the Option shall remain exercisable until the earlier of (i)
      three years following the date of Retirement or (ii) the date on which the
      Option expires by its terms.  For purposes of this Stock Option
      Agreement, “Retirement” means retirement on or after the earlier of (i)
      age 65 or (ii) age 55 plus ten years of employment with the
      Company.

                     

                  
	
                    4)           Cause.  The unvested and vested
      portion of the Option will automatically expire at the time the Company
      first notifies you of your termination of employment for Cause, unless the
      Plan Administrator determines otherwise.  If your employment
      relationship is suspended pending an investigation of whether you will be
      terminated for Cause, all your rights under the Option likewise will be
      suspended during the period of investigation.  If any facts that
      would constitute termination for Cause are discovered after your
      Termination of employment, any Option you then hold may be immediately
      terminated by the Plan Administrator.

                     

                  

          

        

      

    

    It is your responsibility to
be aware of the date the Option terminates.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    5.           Limited
Transferability.  During your lifetime only you can exercise
the Option.  The Option is not transferable except by will or by the
applicable laws of descent and distribution, except to the extent permitted by
the Plan Administrator.  The Plan provides for exercise of the Option
by a beneficiary designated on a Company-approved form or the personal
representative of your estate.

     

    6.           Withholding Taxes. As a condition to the
exercise of any portion of the Option, you must make such arrangements as the
Company may require for the satisfaction of any federal, state, local or foreign
withholding tax obligations that may arise in connection with such
exercise.

     

    7.           Option Not an Employment or Service
Contract.  Nothing in the Plan or any award under the Plan will
be deemed to be an employment contract or limit in any way the right of the
Company to terminate your employment at any time, with or without
cause.

     

    7.           Binding
Effect.  This Agreement will inure to the benefit of the
successors and assigns of the Company and be binding upon you and your heirs,
executors, administrators, successors and assigns.

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