Document:

Form of 2002 Stock Option and Restricted Stock and Unit Award Plan Restricted

 Exhibit 10.7 
 2002 STOCK OPTION AND RESTRICTED STOCK 
 AND UNIT AWARD PLAN, AS AMENDED 
 RESTRICTED STOCK AWARD AGREEMENT 
 TIME-VESTING RESTRICTED STOCK 
 This Restricted Stock Award Agreement (the “Agreement”), is entered into as of
«date» (the “Grant Date”), by and between AnnTaylor Stores Corporation, a Delaware corporation (the “Company”), and «name», an employee of the Company or a Subsidiary Corporation (the
“Grantee”). 
 Pursuant to the AnnTaylor Stores Corporation 2002 Stock Option and Restricted Stock and Unit Award Plan, as amended
(the “Plan”), the Compensation Committee of the Board of Directors of the Company (the “Committee”) or its designee has determined that the Grantee shall be granted Restricted Shares upon the terms and subject to the conditions
hereinafter contained. Capitalized terms used but not defined herein shall have the meanings assigned to them in the Plan. 
 1. Number of
Shares. The Grantee is hereby granted «shares» Restricted Shares, subject to the restrictions set forth herein. 
 2.
Terms of Restricted Shares. The grant of Restricted Shares provided in Section 1 hereof shall be subject to the following terms, conditions and restrictions: 
 (a) Subject to the restrictions set forth in the Plan and this Agreement, the Grantee shall possess all incidents of ownership of the
Restricted Shares granted hereunder, including the right to receive dividends with respect to such shares and the right to vote such shares. 
 (b) Restricted Shares, and any interest therein, may not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of, except by will or the laws of descent and distribution, prior to the lapse of
restrictions set forth in the Plan and this Agreement applicable thereto, as set forth in Section 4 hereof. 
 (c)
Notwithstanding any other provision of this Agreement, in no event shall any outstanding restrictions lapse prior to the satisfaction by the Grantee of the liabilities described in Section 7 hereof. 
 (d) The Committee may, in its discretion, cancel all or any part of any outstanding restrictions prior to the expiration of the periods
provided in Section 4 hereof. 
 3. Certificate: Restrictive Legend. The Grantee agrees that any certificate issued for
Restricted Shares prior to the lapse of any outstanding restrictions relating thereto shall be inscribed with the following legend: 

 This certificate and the shares of stock represented hereby are subject to the terms and conditions,
including forfeiture provisions and restrictions against transfer (the “Restrictions”), contained in the AnnTaylor Stores Corporation 2002 Stock Option and Restricted Stock and Unit Award Plan and an agreement entered into between the
registered owner and the Company. Any attempt to dispose of these shares in contravention of the Restrictions, including by way of sale, assignment, transfer, pledge, hypothecation or otherwise, shall be null and void and without effect. 

4. Lapse of Restrictions. Except as may otherwise be provided herein, the restrictions on transfer set forth in Section 2(b) shall lapse:

  

	 	(a)	with respect to              percent (      %) of the Restricted Shares, on
                        ; 

  

	 	(b)	[insert specifications regarding schedule for lapse of restrictions]. 

 Upon each lapse of restrictions relating to Restricted Shares, and provided that the Grantee shall have complied with the Grantee’s obligations under Section 7 hereof, the Company shall issue to the Grantee
or the Grantee’s personal representative a stock certificate representing one share of Common Stock, free of the restrictive legend described in Section 3 hereof, in exchange for each whole Restricted Share with respect to which such
restrictions have lapsed. If certificates representing such Restricted Shares shall have theretofore been delivered to the Grantee, the Grantee shall return such certificates to the Company, complete with any necessary signatures or instruments of
transfer, prior to the issuance by the Company of such unlegended shares of Common Stock. 
 5. Effect of Certain Changes. Upon the
occurrence of an Acceleration Event, all restrictions then outstanding with respect to the Restricted Shares shall automatically lapse and be of no further force and effect. 
 6. Termination of Employment. In the event that the Grantee ceases to be employed by the Company or any of its divisions or Subsidiary
Corporations, for any reason, prior to the end of the Restricted Period, all Restricted Shares with respect to which the restrictions set forth in Section 4 hereof shall not yet have lapsed (taking into account Sections 2 and 5) shall thereupon
be automatically forfeited by the Grantee. Restricted Shares forfeited pursuant to the preceding sentence shall be transferred to, and reacquired by, the Company without payment of any consideration by the Company, and neither the Grantee nor any of
the Grantee’s successors, heirs, assigns or personal representatives shall thereafter have any further rights or interests in such shares or certificates. If certificates containing restrictive legends shall have theretofore been delivered to
the Grantee or the Grantee’s personal representative, the Grantee or Grantee’s personal representative shall return such certificates to the Company, complete with any necessary signatures or instruments of transfer. 
  

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 7. Taxes. The Grantee shall pay to the Company promptly upon request, and in any event at the time
the Grantee recognizes taxable income in respect of the Restricted Shares (or the Grantee makes an election under Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”), in connection with such grant), an amount
equal to the taxes the Company determines it is required to withhold under applicable tax laws with respect to the Restricted Shares. Such payment shall be made in the form of cash, shares of Common Stock already owned (for at least six months) or
otherwise issuable upon the lapse of restrictions, or in a combination of such methods, subject to the terms of the Plan. The Grantee shall promptly notify the Company of any election made pursuant to Section 83(b) of the Code. 
 8. No Guarantee of Employment. Nothing set forth herein or in the Plan shall confer upon the Grantee any right of continued employment for any
period by the Company or any of its divisions or Subsidiary Corporations, or shall interfere in any way with the right of the Company or any such division or Subsidiary Corporation to terminate such employment. 
 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 to the Company,
Attention: Corporate Secretary, 7 Times Square, 15th Floor, New York, NY 10036, 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.
Governing Law. This Agreement shall be governed by and construed according to the laws of the State of New York, without regard to the conflicts of laws provisions thereof. 
 12. Incorporation of Plan. A copy of the Plan is attached hereto. The Plan is hereby incorporated herein by reference and made a part of this
Agreement, and this Agreement shall be subject to the terms of the Plan, as it may be amended from time to time, provided that such amendment of the Plan is made in accordance with Section 10 of the Plan. 
 13. Amendments. This Agreement may be amended or modified at any time by an instrument in writing signed by both parties hereto. 
 14. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be an original but all of which together shall
represent one and the same agreement. 
  

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 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date and year first set forth
above. 
  

									
	ANNTAYLOR STORES CORPORATION	 		 	GRANTEE:
					
	By:	 	  	 		 		 	  
	 Name:
 Title:
	 		 		 		 	«name»

  

 4Form of 2000 Stock Option and Restricted Stock Award Plan Non-Qualified

 Exhibit 10.8 
 2000 STOCK OPTION AND 
 RESTRICTED STOCK AWARD PLAN, AS AMENDED 
 NON-QUALIFIED STOCK OPTION AGREEMENT 
 TIME-VESTING OPTIONS 
 This Non-qualified Stock Option Agreement (this “Agreement”) is entered into as of
«GrantDate» (the “Grant Date”), between AnnTaylor Stores Corporation, a Delaware corporation (the “Company”), and «Name» (the “Option Holder”). 
 Pursuant to the AnnTaylor Stores Corporation 2000 Stock Option and Restricted Stock Award Plan, as amended (the “Plan”), the Compensation
Committee of the Board of Directors of the Company (the “Committee”) or its designee has determined that the Option Holder be granted an option under the Plan, upon the terms and subject to the conditions hereinafter contained. Capitalized
terms used but not defined herein shall have the meanings assigned to them in the Plan. 
 1. Number and Price of Shares. The
Company hereby grants to the Option Holder an option (the “Option”) to purchase «Options» shares of its Common Stock (the “Option Shares”) at a price of $«Price» per share (the “Option
Price”). 
 2. Time of Exercise. Subject to the provisions of Section 4 hereof, the right to purchase shares pursuant
to the Option shall be exercisable in whole or in part, at any time and from time to time, during the term set forth in Section 4 below in accordance with the following schedule: 
 From                      through
                    , for up to     % of the Option Shares; 
 [insert specifications regarding vesting schedule]. 
 The foregoing notwithstanding, if an Acceleration Event shall occur prior to termination of the Option pursuant to Section 4 hereof, the Option Holder’s right to purchase 100% of the Option Shares shall become exercisable
immediately. 
 3. Method of Exercise. The Option, or any part thereof, shall be exercised by written notice from the Option
Holder to the Secretary of the Company specifying the number of Option Shares to be purchased (which must be a whole number of shares) and accompanied by payment in full of the Option Price for the shares being purchased. Such payment may be made
(i) in cash, (ii) in shares of Common Stock having a Fair Market Value equal to such Option Price, (iii) in a combination of cash and shares or (iv) through a “cashless exercise” procedure involving a broker. A minimum
of one hundred (100) shares must be purchased each time the Option is exercised, unless the Option is being exercised with respect to all Option Shares available at such time for purchase hereunder. No shares shall be issued until full payment
therefor has been received by the Company and the provisions of Section 8 hereof shall have been complied with, and the Option Holder shall have no rights as a 

 
stockholder of the Company in respect of such shares until the date of the issuance by the Company of a stock certificate representing such shares, or
issuance of the shares in uncertificated form by book entry on the records of the Company’s Common Stock registrar and transfer agent. 
 4. Term of the Option. 
 (a) The Option shall be exercisable, in accordance with the provisions of Sections 2 and 3
hereof, through the tenth anniversary of the Grant Date, unless terminated earlier as provided herein. 
 (b) Except as may be provided
pursuant to paragraph (d) of this Section 4, if the Option Holder’s employment is terminated by reason of the Option Holder’s Disability or Retirement, or if the Option Holder shall die while employed by the Company or a
Subsidiary Corporation, the Option may, to the extent otherwise exercisable pursuant to Section 2 above on the date of such termination or death, be exercised by the Option Holder or the Option Holder’s estate or the person who acquired
the right to exercise the Option by bequest or inheritance or otherwise by reason of the death or Disability of the Option Holder, at any time within three years after the date of death or termination of employment by reason of Disability or
Retirement, but in any event not beyond the date on which the Option would otherwise expire pursuant to paragraph (a) of this Section 4. Except as set forth in paragraph (d) of this Section 4, the Option shall, to the extent not
theretofore exercised or terminated, terminate upon the expiration of such three-year (or shorter) period. 
 (c) Except as otherwise
provided in paragraph (b) of this Section 4, and except as may be provided in accordance with paragraph (d) of this Section 4, the Option may not be exercised unless the Option Holder is then in the employ or service of the
Company or one of its divisions or Subsidiary Corporations, and unless the Option Holder has remained continuously so employed or in service since the Grant Date. In the event the Option Holder’s employment or service is terminated or ceases
for any reason other than the Option Holder’s death, Disability, Retirement or a termination voluntarily by the Option Holder or a termination by the Company for Cause, all Options theretofore granted to such Option Holder that are exercisable
at the time of such termination may, to the extent not theretofore exercised or canceled, be exercised at any time within the earlier of when the Options expire pursuant to paragraph (a) of this Section 4 and three (3) months after
such termination of employment or cessation of service, as applicable; provided, however, that the Committee may in its discretion extend the period for exercise of such Options to a date later than three (3) months after such separation or
cessation date, but in any event not beyond the date on which the Option would otherwise expire pursuant to paragraph (a) of this Section 4. Notwithstanding the foregoing, if the employment of the Option Holder shall terminate for Cause or
the Option Holder voluntarily terminates his/her employment, all Options theretofore granted to such Option Holder shall, to the extent not theretofore exercised, terminate on the day following termination. 
  

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 5. Non-Transferability. The Option and the Option Holder’s rights hereunder shall not
be transferable other than by will or the law of descent and distribution, and during the lifetime of the Option Holder the Option may be exercised only by the Option Holder or by the Option Holder’s guardian or legal representative.

 6. No Guarantee of Employment. Nothing set forth herein or in the Plan shall confer upon the Option Holder any right of
continued employment for any period by the Company or any of its divisions or Parent or Subsidiary Corporations, or shall interfere in any way with the right of the Company or any such division or Parent or Subsidiary Corporation to terminate such
employment. 
 7. Non-qualified Stock Option. No portion of the Option constitutes an Incentive Stock Option. The Option
granted hereunder constitutes a Non-qualified Stock Option. 
 8. Taxes upon Exercise of Options. The Option Holder agrees
that: 
 (a) no later than the date of any exercise of the Option, the Option Holder shall pay to the Company, or make arrangements
satisfactory to the Committee regarding the payment of, any federal, state or local taxes required by law to be withheld upon or in connection with such exercise; and 
 (b) the Company shall, to the extent permitted or required by law, have the right to deduct all federal, state and local taxes of any kind required by law to be withheld upon any exercise of the Option or from any
payment of any kind otherwise due to the Option Holder with respect to the Option. 
 9. Failure to Enforce Not a Waiver. The
failure of the Company to enforce at any time any provision of this Option Agreement shall in no way be construed to be a waiver of such provision or of any other provision hereof. 
 10. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard
to the conflicts of laws provisions thereof. 
 11. Stock Option Plan. A copy of the Plan is attached hereto. The Plan is
hereby incorporated herein by reference and made a part of this Agreement, and this Agreement and the Option shall be subject to the terms of the Plan, as it may be amended from time to time, provided that such amendment of the Plan is made in
accordance with Section 10 of the Plan. 
 12. Counterparts. This Agreement may be executed in two or more counterparts,
each of which shall be an original but all of which together shall represent one and the same agreement. 
  

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	ANNTAYLOR STORES CORPORATION	 		 	OPTION HOLDER:
				
	By:	 	  	 		 	  
	Name:	 		 	«Name»
	Title:	 		 	

  

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