Document:

EX-10.43

 Exhibit 10.43 

WATERS CORPORATION 

2012 EQUITY INCENTIVE PLAN 

PERFORMANCE STOCK UNIT AWARD AGREEMENT 

THIS AGREEMENT dated as of [            ] between Waters Corporation, a
corporation organized under the laws of the State of Delaware (the “Company”), and [            ] (the “Participant” or “you”), an
employee of Waters Corporation. 
 1.    Grant of Award. Pursuant and subject to the Company’s 2012 Equity
Incentive Plan (as the same may be amended from time to time, the “Plan”), the Company hereby grants to the Participant an award (the “Award”) consisting of a target number of
[            ] Performance Units (the “Target Award” and such Performance Units, the “PSUs”). Each PSU represents the conditional right to receive, without
payment but subject to the terms, conditions and limitations set forth in this Agreement and in the Plan, one share of the common stock, par value $.01 per share, of the Company (the “Stock”), subject to adjustment pursuant to
Section 8 of the Plan in respect of transactions or events occurring after the date hereof. The percentage of the Target Award that may be earned by the Participant will be determined in accordance with Exhibit A hereto. The date of
grant (the “Grant Date”) of this Award is [            ]. 

2.    Earned PSUs. The PSUs shall become “Earned PSUs” following the end of the Performance Period
to the extent earned in accordance with the performance criteria set forth on Exhibit A (the “Performance Criteria”), subject to the Compensation Committee determining, in its sole discretion, the achievement of the
Performance Criteria. 
 3.    Vesting of Earned PSUs; Termination of Employment. No portion of the Award is
vested as of the date hereof. The Earned PSUs (if any) shall vest in full on March 1, 2023 (the “Vesting Date”), subject to your continuous employment through this date, or such earlier time as set forth in Section 4
below. Notwithstanding the foregoing, in the event of a termination of your employment due to your Retirement after the first anniversary of the Performance Period Start Date (a “Qualifying Retirement”) or your death, in either
case, prior to the Vesting Date and prior to a Change of Control, the PSUs shall not terminate upon such termination and shall instead remain outstanding and eligible to become Earned PSUs in accordance with the terms of this Agreement and to vest
on the Vesting Date. The number of Earned PSUs, if any, will be prorated based on the number of the days that have elapsed in the Performance Period from the Performance Period Start Date (as defined in Exhibit A) to the date of such
termination of employment. 
 4.    Change of Control. Notwithstanding anything contained in Section 9 of
the Plan to the contrary: 
  

	 	(a)	 If, prior to the Performance Period End Date (as defined in Exhibit A), a Change of Control occurs, to
the extent the PSUs are outstanding immediately prior to such Change of Control, the PSUs shall be deemed earned assuming the Performance Criteria have been achieved at target levels and the number of Earned PSUs shall be equal to the number of PSUs
subject to the Target Award. The Earned PSUs shall continue to vest based solely on time and shall vest on the Vesting Date, subject to your remaining in continuous employment through such date, except as otherwise provided in Section 4(b)-(d)
below. 

  

	 	(b)	 If (A) in connection with a Change of Control described in subsection (a) above the Earned PSUs are
assumed or continued, or a new award is substituted for the Earned PSUs, by the acquiror or survivor (or an affiliate of the acquiror or survivor), (B) you remain continuously employed through the date of the Change of Control, and (C) your
employment is terminated by the Company without Cause or by you for Good Reason, in either case, within eighteen (18) months following the Change of Control, the Earned PSUs will automatically vest in full upon such termination of employment.

  
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	 	(c)	 If, in connection with a Change of Control described in subsection (a) above, the Earned PSUs are not
assumed or continued, or a new award is not substituted for the Earned PSUs, by the acquiror or survivor (or an affiliate of the acquiror or survivor), the Earned PSUs will automatically vest immediately prior to, but subject to the consummation of,
the occurrence of such Change of Control and the Company shall deliver to you any shares in respect of Earned PSUs in a manner that will allow you to participate in the Change of Control on the same basis as other shareholders.

  

	 	(d)	 In the event a Change of Control occurs following a termination of your employment due to a Qualifying
Retirement or your death and prior to the Performance Period End Date, (i) the PSUs shall become Earned PSUs as provided for in Section 4(a) above (prorated, for the avoidance of doubt, in accordance with Section 3 above (based on the
original Performance Period, without regard to the Change of Control)), (ii) the Earned PSUs will automatically vest in full immediately prior to, but subject to the consummation of, the occurrence of such Change of Control, and (iii) the
Company shall deliver to you any shares in respect of Earned PSUs in a manner that will allow you to participate in the Change of Control on the same basis as other shareholders. 

5.    Delivery of Shares. Shares in respect of Earned PSUs that have become vested will be delivered to you as soon
as practicable following vesting, but in any event no later than the March 15th following the date the Earned PSUs become vested hereunder (or any earlier date, after vesting, required to avoid
characterization of this Award as non-qualified deferred compensation under Section 409A of the Code). In connection with the delivery of shares of Stock in respect of Earned PSUs, par value will be
deemed paid for each share by past services rendered by you. 
 6.    Duration of Award and Termination of
Employment. This Award will expire upon the earlier of (i) the delivery of shares of Stock in respect of all vested and Earned PSUs granted pursuant to this Agreement or (ii) a termination of your employment with the Company and its
Affiliates for any reason other than a Qualifying Retirement or death as provided in Section 3 above. 

7.    Transfer of Awards. You may not transfer this Award except by will or the laws of descent and distribution.

 8.     Required Holding Period for Shares. Any shares of Stock delivered to you in respect of
Earned PSUs (after giving effect to the withholding of shares of Stock as contemplated by Section 12 below) may not be transferred, sold, hypothecated or otherwise disposed of for a period of [twelve (12)]1[twenty-four (24)]2 months following the Vesting Date; provided, however, that this restriction shall not apply following your death
or in connection with or following a Change of Control. 
 9.    Incorporation of Plan Terms. Except as expressly
provided herein, this Award is granted subject to all of the applicable terms and provisions of the Plan, including but not limited to the provision for acceleration of vesting of this Award set forth in Section 8 (Adjustment Provisions) and
the limitations on the Company’s obligation to deliver shares of Stock upon settlement set forth in Section 10 (Settlement of Awards). Except as expressly provided herein, in the event of a conflict between the terms of this Agreement and
the Plan, the terms of the Plan shall control. 
 10.    Definitions. For purposes of this Award, the following
terms have the following meanings: 
  

	1 	 Note to Draft: For all employees except CEO. 

	2 	 Note to Draft: For CEO. 

  
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	 	(a)	 “Cause” shall mean, except as otherwise set forth in an employment or other individual
agreement between you and the Company (it being understood that such other definition of “Cause” that is set forth in any such employment agreement or other individual Agreement shall control instead of this definition for so long as such
employment agreement or other individual agreement is in effect): 

  

	 	(i)	 the conviction of you by a court of competent jurisdiction of, or the pleading of guilty or nolo contendere to,
any felony or any crime involving moral turpitude; 

  

	 	(ii)	 gross negligence, breach of fiduciary duty, breach of any
non-competition, non-solicitation or developments agreement or covenant in favor of the Company or material breach of any confidentiality agreement or covenant in favor
of the Company; 

  

	 	(iii)	 you shall have willfully and continually failed to substantially perform your duties with the Company after a
written demand for substantial performance is delivered by the Company, which demand specifically identifies the manner in which the Company believes that you have not substantially performed your duties pursuant to the disciplinary procedures of
the Company, and such failure of substantial performance shall have continued for a period of thirty (30) days after such written demand; 

  

	 	(iv)	 you have been chronically absent from work (excluding vacations, illnesses or leaves of absences);

  

	 	(v)	 the commission by you of an act of fraud, embezzlement or misappropriation against the Company; or

  

	 	(vi)	 you shall have refused, after explicit notice, to obey any lawful resolution or direction by the Board which is
consistent with your duties as an officer of the Company. 

  

	 	(b)	 “Good Reason” shall mean, except as otherwise set forth in an employment or other individual
agreement between you and the Company (it being understood that such other definition of “Good Reason” that is set forth in any such employment agreement or other individual agreement shall control instead of this definition for so long as
such employment agreement or other individual agreement is in effect, the occurrence (without your express written consent) of one or more of the following events following a Change of Control, as the case may be: 

 

	 	(i)	 a material diminution in your authority, duties, responsibilities or reporting lines from your authority,
duties, responsibilities or reporting lines immediately prior to the Change of Control; 

  

	 	(ii)	 a material reduction in your base salary (other than that which results in a base salary reduction of no more
than ten percent (10%) in the aggregate from your highest base salary and is proportional to reductions of other senior executives) or target annual bonus opportunity; 

 

	 	(iii)	 a material change in your place of business (provided, however, that travel for business purposes
consistent with past practices shall not be considered a change in the place of business for the purpose of this clause (iii)); or 

  
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	 	(iv)	 a material breach by the Company of any agreement under which you provide services to the Company, or any plan
of incentive compensation; 

 provided, that the occurrence of any of the events listed in clauses (i) through
(iv) shall not constitute “Good Reason” (x) unless you shall have given notice of the event to the Company within ninety (90) days after it first existed, (y) the Company shall have failed to remedy the condition within thirty
(30) days after the notice, and (z) you actually terminate employment within thirty (30) days after the expiration of the Company’s cure period. 
  

	 	(c)	 “Retirement” shall mean your termination of employment (other than for Cause or your voluntary
resignation at a time when Cause exists) (i) at any time after you have reached age sixty (60) with ten (10) years of service to the Company and its subsidiaries and (ii) with the intention of concluding your working or
professional career. 

 11.    Miscellaneous. This Agreement shall be construed and enforced in
accordance with the laws of the State of Delaware, without regard to the conflict of laws principles thereof and shall be binding upon and inure to the benefit of any successor or assign of the Company and any executor, administrator, trustee,
guardian, or other legal representative of you. Capitalized terms used but not defined herein shall have the meaning assigned under the Plan. This Agreement may be executed in one or more counterparts all of which together shall constitute but one
instrument. 
 12.    Tax Consequences. The Company makes no representation or warranty as to the tax treatment
to you of your receipt or the vesting or settlement of this Award or upon your sale or other disposition of shares of Stock. You should rely on your own tax advisors for such advice. By accepting this Award, you hereby acknowledge and agree that the
Company will hold back that number of whole shares of Stock otherwise deliverable to you under this Award having a Market Value sufficient to satisfy the statutory minimum withholding amount applicable to the shares delivered under this Award, with
the Company accepting a payment in cash or by check to the extent of any withholding amounts not satisfied by such withholding of shares. Nothing in the preceding sentence shall be construed as relieving the you of any liability for satisfying your
tax obligations with respect to this Award and you authorize the Company and its subsidiaries to withhold any such amounts from any amounts otherwise owed to you. 

  
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 IN WITNESS WHEREOF, the parties have
executed this Agreement as a sealed instrument as of the date first above written. 
 WATERS CORPORATION 

By:    Christopher J. O’Connell 
 Title:
Chairman and Chief Executive Officer 
 EMPLOYEE 
 Electronic
Signature of Participant 

  
 5Exhibit

Exhibit 4.2

DESCRIPTION OF CERTAIN OF REGISTRANT’S SECURITIES

General

The following is a summary of information concerning the capital stock of Iridium Communications Inc. References to “Iridium” and the “Company” herein are, unless the context otherwise indicates, only to Iridium Communications Inc. and not to any of its subsidiaries. The summaries and descriptions below do not purport to be complete statements of the relevant provisions of the Company’s amended and restated certificate of incorporation, as amended to date, or collectively our restated certificate, and the Company’s amended and restated bylaws, or our restated bylaws, and are entirely qualified by reference to the provisions of these documents, which are incorporated by reference as Exhibits 3.1, 3.4 and 3.5, respectively, of the Company’s Annual Report on Form 10-K to which this description is also an exhibit.

Authorized Capital Stock

Our restated certificate authorizes us to issue up to 300,000,000 shares of common stock, $0.001 par value per share, and 2,000,000 shares of preferred stock, $0.0001 par value per share.  As of December 31, 2019, there were 131,632,085 shares of common stock outstanding. We previously authorized and issued 1,000,000 shares of Series A Preferred Stock and 500,000 shares of Series B Preferred Stock, none of which shares are currently outstanding.  The remaining 500,000 shares of preferred stock are undesignated. Our board of directors may establish the rights and preferences of the preferred stock from time to time.

Restrictions on Stock Ownership and Transfer

Under our restated certificate, we may restrict the ownership, or proposed ownership, of our common stock or preferred stock by any person if such ownership or proposed ownership is or could be inconsistent with, or in violation of, any provision of the Communications Act of 1934, as amended, and the rules, regulations or policies promulgated thereunder, or collectively the Federal Communications Laws, or such ownership or proposed ownership limits or impairs, or could limit or impair, our business activities or our proposed business activities under the Federal Communications Laws.

Description of Common Stock

Voting Rights

Each holder of our common stock is entitled to one vote for each share on all matters submitted to a vote of the stockholders, including the election of directors. Under our restated certificate and our restated bylaws, our stockholders do not have cumulative voting rights. Because of this, the holders of a majority of the shares of common stock entitled to vote in any election of directors can elect all of the directors standing for election, if they should so choose.
 
Dividends

Subject to preferences that may be applicable to any then-outstanding preferred stock, holders of common stock are entitled to receive ratably those dividends, if any, as may be declared from time to time by the board of directors out of legally available funds.
 
Liquidation

In the event of our liquidation, dissolution or winding up, holders of common stock will be entitled to share ratably in the net assets legally available for distribution to stockholders after the payment of all of our debts and other liabilities and the satisfaction of any liquidation preference granted to the holders of any then-outstanding shares of preferred stock.
 
Rights and Preferences

Holders of common stock have no preemptive, conversion or subscription rights and there are no redemption or sinking fund provisions applicable to the common stock. The rights, preferences and privileges of the holders of common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of preferred stock that we may designate in the future.

Description of Preferred Stock 

Our board of directors has the authority, without further action by our stockholders, to issue up to 2,000,000 shares of preferred stock in one or more series, to establish from time to time the number of shares to be included in each such series, to fix the rights, preferences and privileges of the shares of each series and any qualifications, limitations or restrictions thereon, and to increase or decrease the number of shares of any such series, but not below the number of shares of such series then outstanding.

Our board of directors may authorize the issuance of preferred stock with voting or conversion rights that could adversely affect the voting power or other rights of the holders of our common stock. The purpose of authorizing our board of directors to issue preferred stock and determine its rights and preferences is to eliminate delays associated with a stockholder vote on specific issuances. The issuance of preferred stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other things, have the effect of delaying, deferring or preventing a change of control of our company and may adversely affect the market price of our common stock and the voting and other rights of the holders of our common stock. It is not possible to state the actual effect of the issuance of any shares of preferred stock on the rights of holders of common stock until the board of directors determines the specific rights attached to that preferred stock.

Anti-Takeover Provisions 

Our restated certificate provides that all stockholder actions must be effected at a duly called meeting of stockholders and has eliminated the right of stockholders to act by written consent without a meeting. Our restated bylaws provide that only our chairman of the board or a majority of the entire board of directors may call a special meeting of stockholders. Our restated bylaws also provide that stockholders seeking to present proposals before a meeting of stockholders to nominate candidates for election as directors at a meeting of stockholders must provide timely advance notice in writing and must comply with specific requirements as to the form and content of the stockholder’s notice.

The combination of these provisions may make it more difficult for our existing stockholders to replace our board of directors as well as for another party to obtain control of us by replacing our board of directors. Since our board of directors has the power to retain and discharge our officers, these provisions could also make it more difficult for existing stockholders or another party to effect a change in management. In addition, the authorization of undesignated preferred stock makes it possible for our board of directors to issue preferred stock with voting or other rights or preferences that could impede any attempt to effect a change of control of our company.

Transfer Agent and Registrar

The transfer agent and registrar for our common stock is American Stock Transfer & Trust Company. The transfer agent’s address is 6201 15th Street, Brooklyn, NY 11219.

Listing

Our common stock is listed on the Nasdaq Global Select Market under the ticker symbol “IRDM.”

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