Document:

EX-10.1

 Exhibit 10.1 

RETIREMENT AGREEMENT 

This Retirement Agreement (this “Agreement”) is entered by and between John V. Schaefer (“Executive”) and
Sportsman’s Warehouse Holdings, Inc. (the “Company”), on this 13th day of March, 2018 (the “Effective Date”). 

WHEREAS, Executive is currently the Chief Executive Officer of the Company and a member of the Board of Directors of the Company; 

WHEREAS, Executive is a party to that certain Employment Agreement with the Company dated December 10, 2013 (the
“Employment Agreement”); and 
 WHEREAS, the parties desire to enter into this Agreement on the terms and conditions
set forth below to, among other items set forth below, provide for Executive’s retirement effective as of the Effective Date. 

NOW, THEREFORE, in consideration of the covenants undertaken and the releases contained in this Agreement, Executive and the Company
agree as follows: 
 1.    Resignation. Executive irrevocably resigns as an officer,
employee, director, manager, fiduciary and in each and every other capacity with the Company and each of its Affiliates (as such term is defined below), as well as with respect to any benefit plan of the Company or any of its Affiliates, effective
on the Effective Date. Other than for Executive’s unpaid salary through the Effective Date for the payroll period in which the Effective Date occurs (which will be paid on or promptly following the Effective Date), Executive agrees that he has
been paid all compensation and benefits due from the Company and each of its Affiliates (including, but not limited to, salary, bonus, incentive, and other wages), and that all payments due to Executive from the Company or any of its affiliates
after the Effective Date shall be determined under this Agreement. Executive agrees that he has submitted and been reimbursed for all reimbursable business expenses. As used in this Agreement: (i) the term “Affiliate” means a
person that directly or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, the Company; (ii) the term “control,” including the correlative terms “controlling,”
“controlled by” and “under common control with,” means the possession, directly or indirectly, of the power to direct or cause the direction of management or policies (whether through ownership of securities or any partnership or
other ownership interest, by contract or otherwise) of a person; and (iii) the term “person” shall be construed broadly and includes, without limitation, an individual, a partnership, a limited liability company, a corporation, an
association, a joint stock company, a trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof. 

2.    Severance Payment. Provided that Executive signs this Agreement and does not revoke it,
and complies with all terms of this Agreement, the Company shall pay Executive: (i) an aggregate amount of One Million Four Hundred Fifty Eight Thousand Six Hundred and Seven Dollars ($1,458,607.00), subject to tax withholding and other
authorized deductions, with such total amount to be paid in equal installments (each representing the applicable fraction of 

  
 1 

 
such total amount) in accordance with the Company’s regular payroll practice over eighteen (18) months following the Effective Date; provided that such severance benefit shall commence
on the first regular payroll date following the sixty (60)-day anniversary of the Effective Date, with such first payment to include all amounts accrued but unpaid during such sixty (60)-day period; and (ii) One Hundred and One Thousand Four Hundred Ninety Eight Dollars ($101,498.00), subject to tax withholding and other authorized deductions, with such amount to be paid on the first
regular payroll date following the sixty (60)-day anniversary of the Effective Date. 

3.    Equity Awards. Pursuant to that certain (i) Restricted Stock Award Agreement by and
between Executive and the Company, dated April 16, 2016 (the “Restricted Stock Award Agreement”), Executive was granted 78,400 restricted shares of common stock of the Company, of which 52,267 shares remain unvested (the
“Unvested Restricted Shares”), (ii) Performance Restricted Stock Award Agreement by and between Executive and the Company, dated April 16, 2016 (the “Performance Restricted Stock Award Agreement”), Executive
was granted a target of 78,400 restricted shares of common stock of the Company, subject to achievement of certain performance metrics, of which 39,200 shares remain unvested (the “Unvested Performance Restricted Shares”), and
(iii) Restricted Stock Unit Award Agreement by and between Executive and the Company, dated May 24, 2017 (the “Restricted Stock Unit Award Agreement”), Executive was granted 150,000 restricted stock units, all of which
remain unvested (the “Unvested Restricted Stock Units”). As of the Effective Date, the Unvested Restricted Shares, Unvested Performance Restricted Shares and Unvested Restricted Stock Units shall become fully vested and any
restrictions, if applicable, shall lapse. Other than as set forth in this Section 3, the equity awards described herein shall, as applicable, remain subject to the terms and conditions of the Restricted Stock Award Agreement, the Performance
Restricted Stock Award Agreement, the Restricted Stock Unit Award Agreement, or any plan or other agreements. 

4.    COBRA Benefits. As of April 1, 2018, Executive shall have the option to convert and
continue coverage for Executive and Executive’s eligible dependents under the Company’s group health and dental insurance plans, as may be required by law under COBRA. Provided that Executive makes a timely election to continue such
coverage for COBRA benefits, the Company shall pay or reimburse Executive for the premium costs associated with such COBRA benefits until the earlier of (i) the last day of September 2019, (ii) Executive’s death, (iii) the date
Executive becomes eligible for coverage under the health plan of another employer, or (iv) the date the Company ceases to offer group medical coverage to its active executive. To the extent Executive elects COBRA coverage, Executive shall
notify the Company in writing of such election prior to such coverage taking effect and complete any other continuation coverage enrollment procedures the Company has in place. 

5.    Release of Claims. Executive, on his own behalf and on behalf of his descendants,
dependents, heirs, executors, administrators, assigns and successors, and each of them, hereby fully and forever releases the Company, its divisions, subsidiaries, parents, or Affiliates, past and present, and each of them, as well as its and their
assignees, successors, directors, officers, stockholders, partners, representatives, attorneys, agents or employees, past or present, or any of them (individually and collectively, “Releasees”), from, and agrees not to sue
concerning, or in any manner institute, prosecute or pursue, or cause to be instituted, prosecuted, or pursued, any claim, duty, obligation or cause of action relating to any matters of any kind, whether presently known or unknown, suspected or
unsuspected, that Executive may possess 

  
 2 

 
against any of the Releasees arising from any acts or omissions that have occurred up until and including the date and time that Executive signs the Agreement (collectively,
“Claims”), including, without limitation, (a) any and all Claims relating to or arising from Executive’s employment relationship with the Company and the termination of that relationship; (b) any and all Claims for
violation of any federal, state or municipal law, constitution, regulation, ordinance or common law, including, but not limited to, Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Americans with Disabilities Act of 1990;
the Fair Labor Standards Act; the Employee Retirement Income Security Act of 1974; the federal Family Medical Leave Act; and all amendments to each such law; (c) any and all Claims for any wrongful discharge of employment; termination in
violation of public policy; discrimination; harassment; retaliation; breach of contract, both express and implied (including, but not limited to, Claims arising out of the Employment Agreement); breach of covenant of good faith and fair dealing,
both express and implied; promissory estoppel; negligent or intentional infliction of emotional distress; fraud; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage;
unfair business practices; defamation; personal injury; invasion of privacy; false imprisonment; and conversion; (d) any and all Claims for wages, benefits, severance, vacation, bonuses, commissions, equity, expense reimbursements, or other
compensation or benefits; and (e) any and all Claims for attorneys’ fees, costs and/or penalties; provided, however, that the foregoing release does not apply to any obligation of the Company to Executive pursuant to any of the following:
(1) this Agreement; (2) any right to indemnification that Executive may have pursuant to the Company’s bylaws, its corporate charter or under any written indemnification agreement with the Company (or any corresponding provision of
any subsidiary or Affiliate) with respect to any loss, damages or expenses (including, but not limited to, attorneys’ fees to the extent otherwise provided) that Executive may in the future incur with respect to his service as an employee,
officer or director of the Company or any of its subsidiaries or Affiliates; (3) with respect to any rights that Executive may have to insurance coverage for such losses, damages or expenses under any Company (or subsidiary or Affiliate)
directors and officers liability insurance policy; (4) any rights to continued medical and dental coverage that Executive may have under COBRA; or (5) any rights to payment of benefits that Executive may have under a retirement plan
sponsored or maintained by the Company that is intended to qualify under Section 401(a) of the Internal Revenue Code of 1986, as amended. In addition, this release does not cover any Claim that cannot be so released as a matter of applicable
law. Notwithstanding anything to the contrary herein, nothing in this Agreement prohibits Executive from filing a charge with or participating in an investigation conducted by any state or federal government agencies. However, Executive does waive,
to the maximum extent permitted by law, the right to receive any monetary or other recovery, should any agency or any other person pursue any claims on Executive’s behalf arising out of any claim released pursuant to this Agreement. For
clarity, and as required by law, such waiver does not prevent Executive from accepting a whistleblower award from the Securities and Exchange Commission pursuant to Section 21F of the Securities Exchange Act of 1934, as amended. Executive
acknowledges and agrees that he has received any and all leave and other benefits that he has been and is entitled to pursuant to the Family and Medical Leave Act of 1993. 

6.    Waiver of Unknown Claims. This Agreement is intended to be effective as a general
release of and bar to each and every Claim hereinabove specified. Executive acknowledges that he later may discover claims, demands, causes of action or facts in addition to or different from those which Executive now knows or believes to exist with
respect to the 

  
 3 

 
subject matter of this Agreement and which, if known or suspected at the time of executing this Agreement, may have materially affected its terms. Nevertheless, Executive hereby waives, as to the
Claims, any claims, demands, and causes of action that might arise as a result of such different or additional claims, demands, causes of action or facts. 

7.    ADEA Waiver. Executive expressly acknowledges and agrees that by entering into this
Agreement, he is waiving any and all rights or claims that he may have arising under the Age Discrimination in Employment Act of 1967, as amended (the “ADEA”), and that this waiver and release is knowing and voluntary. Executive and
the Company agree that this waiver and release does not apply to any rights or claims that may arise under the ADEA after the date Executive signs this Agreement. Executive further expressly acknowledges and agrees that: 

(a)    In return for this Agreement, he will receive consideration beyond that which he was already entitled to receive
before executing this Agreement; 
 (b)    He is hereby advised in writing by this Agreement to consult with an attorney
before signing this Agreement; 
 (c)    He was given a copy of this Agreement on March 13, 2018, and informed that
he had twenty-one (21) days within which to consider this Agreement and that if he wished to execute this Agreement prior to the expiration of such 21-day period he
will have done so voluntarily and with full knowledge that he is waiving his right to have twenty-one (21) days to consider this Agreement; and that such twenty-one
(21) day period to consider this Agreement would not and will not be re-started or extended based on any changes, whether material or immaterial, that are or were made to this Agreement in such twenty-one (21) day period after he received it; 
 (d)    He was informed that he
had seven (7) days following the date of execution of this Agreement in which to revoke this Agreement, and this Agreement will become null and void if Executive elects revocation during that time. Any revocation must be in writing and must be
received by the Company during the seven-day revocation period. In the event that Executive exercises this revocation right, neither the Company nor Executive will have any obligation under this Agreement. Any
notice of revocation should be sent by Executive in writing to the Company (attention Chief Executive Officer), 7085 South High Tech Drive, Midvale, Utah 84047, so that it is received within the seven-day
period following execution of this Agreement by Executive. 
 (e)    Nothing in this Agreement prevents or precludes
Executive from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties or costs for doing so, unless specifically authorized by federal law. 

8.    No Transferred Claims. Executive warrants and represents that he has not heretofore
assigned or transferred to any person not a party to this Agreement any released matter or any part or portion thereof. 

  
 4 

 9.    Restrictive Covenants. Executive shall, and
Executive hereby acknowledges that he will, comply with his continuing obligations to the Company under the terms of (i) the restrictive covenants described in Section 4 of the Employment Agreement and the last sentence of
Section 3.7.4 of the Employment Agreement, (ii) Exhibit B of the Restricted Stock Award Agreement, (iii) Exhibit C of the Performance Restricted Stock Award Agreement, (iv) Exhibit A of the Restricted Stock Unit Agreement, and
(v) any other restrictive covenant agreements Executive is a party to with the Company or any of its Affiliates ((i), (ii), (iii), (iv) and (v) collectively shall be referred to herein as the “Restrictive Covenant
Agreements”). The Restrictive Covenant Agreements shall survive the termination of Executive’s employment with the Company. 

10.    Return of Property. Executive represents and covenants that he has returned to the
Company (a) all physical, computerized, electronic or other types of records, documents, proposals, notes, lists, files and any and all other materials, including computerized electronic information, that refer, relate or otherwise pertain to
the Company or any of its Affiliates that were in Executive’s possession, subject to Executive’s control or held by Executive for others; and (b) all property or equipment that Executive has been issued by the Company or any of its
Affiliates during the course of his employment or property or equipment that Executive otherwise possessed. Executive represents that he has destroyed the electronic office entry key and American Express card issued by the Company in his possession
and that he has no Company tablets, smartphones or other devices belonging to the Company. ), However, (i) Executive shall be permitted to retain the home computer provided by the Company that is currently in Executive’s possession, and
(ii) Executive will reasonably cooperate with the Company for the return, at the Company’s request and expense, of the displays and telephone equipment currently in Executive’s possession. Executive acknowledges that he is not
authorized to retain any physical, computerized, electronic or other types of copies of any such physical, computerized, electronic or other types of records, documents, proposals, notes, lists, files or materials, and is not authorized to retain
any property or equipment of the Company of any of its Affiliates. Executive further agrees that Executive will immediately forward to the Company (and thereafter destroy any electronic copies thereof) any business information relating to the
Company or any of its Affiliates that has been or is inadvertently directed to Executive following the Effective Date. 

11.    Arbitration. Any dispute or claim between Executive and the Company, whether arising in
contract, tort, common law, or statute, or because of an alleged breach, default, or misrepresentation in connection with any of the provisions of this Agreement or any other agreement between Executive and the Company, including (without
limitation) any state or federal statutory claims, shall be submitted to arbitration in Salt Lake City in accordance with Section 5.4 of the Employment Agreement. 

12.    Miscellaneous. 

(a)    Successors. 

 

	 	•	 	This Agreement is personal to Executive and shall not be assignable by Executive. 

  
 5 

	 	•	 	This Agreement shall inure to the benefit of and be binding upon the Company and its respective successors and assigns and any such successor or assignee shall be deemed substituted for the Company under the terms of
this Agreement for all purposes. As used herein, “successor” and “assignee” shall include any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly
acquires ownership of the Company or to which the Company assigns this Agreement by operation of law or otherwise. 

(b)    Waiver. Neither the failure nor any delay on the part of a party to exercise
any right, remedy, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any right,
remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be
binding unless in writing and signed by the party asserted to have granted such waiver. 

(c)    Modification. This Agreement may not be amended, modified or changed (in whole
or in part), except by a formal, definitive written agreement expressly referring to this Agreement, which agreement is executed by both of the parties hereto. 

(d)    Complete Agreement. This Agreement, together with the Restrictive Covenant
Agreements, constitutes and contains the entire agreement and final understanding concerning Executive’s relationship with the Company and its Affiliates and the other subject matters addressed herein and supersedes and replaces all prior
negotiations and all agreements proposed or otherwise, whether written or oral, concerning the subject matters hereof. Any representation, promise or agreement not specifically included in this Agreement or in the Restrictive Covenant Agreements
shall not be binding upon or enforceable against either party. The Executive is not relying on any representation of the Company or any of the Releasees except as expressly set forth in this Agreement or in the Restrictive Covenant Agreements. This
Agreement, together with the Restrictive Covenant Agreements, constitutes an integrated agreement. For clarity, the benefits set forth in Sections 2, 3 and 4 of this Agreement are in full satisfaction of Executive’s right to severance benefits
pursuant to Section 3.7.3 of the Employment Agreement. 
 (e)    Severability.
In the event that any portion of this Agreement or the application thereof, becomes or is declared by a court of competent jurisdiction to be illegal, void or unenforceable, the remainder of this Agreement will continue in full force and effect
and the application of such portion to other persons or circumstances will be interpreted so as reasonable to effect the intent of the parties hereto. 

(f)    Governing Law. This Agreement shall be deemed to have been executed and
delivered within the State of Utah, and, except for Section 11, which shall be governed by the Federal Arbitration Act (both substantively and procedurally), the rights and obligations of the parties hereunder shall be construed and enforced in
accordance with, and governed by, the laws of the State of Utah without regard to principles of conflict of laws. 

  
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 (g)    Cooperation in Drafting. Each
party has cooperated in the drafting, negotiation and preparation of this Agreement. Hence, in any construction to be made of this Agreement, the same shall not be construed against either party on the basis of that party being the drafter of such
language. 
 (h)    Counterparts. This Agreement may be executed in counterparts,
and each counterpart, when executed, shall have the efficacy of a signed original. Photographic or PDF copies of such signed counterparts may be used in lieu of the originals for any purpose. 

(i)    No Wrongdoing. This Agreement constitutes a compromise and settlement of any
and all potential disputed claims. No action taken by the Company hereto, either previously or in connection with this Agreement, shall be deemed or construed to be: (a) an admission of the truth or falsity of any potential claims; or
(b) an acknowledgment or admission by the Company of any fault or liability whatsoever to Executive or to any third party. 

(j)    Voluntary Execution of Agreement. This Agreement is executed voluntarily and
without any duress or undue influence on the part or behalf of the parties hereto, with the full intent of releasing all claims. The parties acknowledge that (a) they have read this Agreement; (b) they have had the opportunity to seek
legal counsel of their own choice; (c) they understand the terms and consequences of this Agreement and of the releases it contains; and (d) they are fully aware of the legal and binding effect of this Agreement. 

(k)    Supplementary Documents. All parties agree to cooperate fully and to execute
any and all supplementary documents and to take all additional actions that may be necessary or appropriate to give full force to the basic terms and intent of this Agreement and which are not inconsistent with its terms. 

(l)    Headings; Construction. The section and paragraph headings and titles contained
in this Agreement are inserted for convenience only, and they neither form a part of this Agreement nor are they to be used in the construction or interpretation of this Agreement. Where the context requires, the singular shall include the plural,
the plural shall include the singular, and any gender shall include all other genders and the neutral. Where specific language is used to clarify by example a general statement contained herein, such specific language shall not be deemed to modify,
limit or restrict in any manner the construction of the general statement to which it relates. 

(m)    Taxes. Except for amounts withheld by the Company, Executive shall be solely
responsible for any taxes due as a result of any payments or benefits provided for in this Agreement. 
 [Remainder of Page
Intentionally Left Blank] 

  
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 I have read the foregoing Retirement Agreement and I accept and agree to the provisions it
contains and hereby execute it voluntarily with full understanding of its consequences. 
 EXECUTED this 13th day of March 2018, at Salt Lake City County, Utah. 
  

	
	“Executive”
	
	 /s/ John V. Schaefer

	John V. Schaefer

 EXECUTED this 13th day of March 2018, at Salt Lake
City County, Utah. 
  

			
	“Company”
	
	SPORTSMAN’S WAREHOUSE HOLDINGS, INC.
	
	 /s/ Kevan P. Talbot

	By:	 	Kevan P. Talbot
	Its:	 	Secretary

  
 8Exhibit 10.1

 

TE CONNECTIVITY LTD

 

RULES

 

OF

 

TYCO ELECTRONICS LIMITED

 

SAVINGS RELATED SHARE PLAN

 

(amended and restated March 14, 2018)

 

 

CONTENTS

 

	
Rule
    	
 
    	
 
    	
Page
   Number
    
	
1.
    	
INTERPRETATION
    	
4
    
	
 
    	
1.1.
    	
Definitions
    	
4
    
	
 
    	
1.2.
    	
Interpretation
    	
7
    
	
2.
    	
INVITATIONS TO APPLY   FOR, AND APPLICATIONS FOR, GRANT OF OPTIONS
    	
7
    
	
 
    	
2.1.
    	
Announcement of   intention to issue Invitations by Board or Trustees
    	
7
    
	
 
    	
2.2.
    	
Persons to whom   Invitations must be issued
    	
7
    
	
 
    	
2.3.
    	
Documents which must   accompany Invitation
    	
8
    
	
 
    	
2.4.
    	
Contents of Invitation
    	
8
    
	
 
    	
2.5
    	
Contents of Application   Form
    	
8
    
	
 
    	
2.6
    	
Number of Plan Shares   applied for in Application
    	
9
    
	
 
    	
2.7
    	
Making of Applications
    	
9
    
	
3.
    	
GRANT OF OPTIONS
    	
9
    
	
 
    	
3.1.
    	
Options granted by   Company or Trustees
    	
9
    
	
 
    	
3.2.
    	
Persons to whom Options   must be granted
    	
9
    
	
 
    	
3.3.
    	
Procedure for grant of   Options and Grant Date
    	
9
    
	
 
    	
3.4.
    	
Contents of Option   Certificate
    	
9
    
	
 
    	
3.5.
    	
Number of Plan Shares   over which Options granted
    	
10
    
	
 
    	
3.6.
    	
Scaling down of   Applications
    	
10
    
	
 
    	
3.7.
    	
Period allowed for   grant of Options
    	
10
    
	
 
    	
3.8.
    	
Duration of Plan
    	
10
    
	
 
    	
3.9.
    	
Persons to whom Options   may be granted
    	
10
    
	
 
    	
3.10.
    	
Options   non-transferable
    	
10
    
	
4.
    	
LIMIT ON AGGREGATE   NUMBER OF PLAN SHARES PLACED UNDER OPTION
    	
11
    
	
 
    	
4.1.
    	
Power to set limit
    	
11
    
	
5.
    	
EXERCISE PRICE
    	
11
    
	
6.
    	
EXERCISE OF OPTIONS
    	
11
    
	
 
    	
6.1.
    	
Earliest date for   exercise of Options
    	
11
    
	
 
    	
6.2.
    	
Latest date for   exercise of Options
    	
11
    
	
 
    	
6.3.
    	
Persons who may   exercise Options
    	
11
    
	
 
    	
6.4.
    	
Material Interest
    	
11
    
	
 
    	
6.5.
    	
Number of Plan Shares   acquired on exercise of Options
    	
11
    
	
 
    	
6.6.
    	
Options may be   exercised in whole or in part
    	
11
    
	
 
    	
6.7.
    	
Procedure for exercise   of Options
    	
12
    
	
 
    	
6.8.
    	
Issue or transfer of   Plan Shares on exercise of Options
    	
12
    
	
 
    	
6.9.
    	
Amount of repayment   under Savings Contract
    	
12
    
	
7.
    	
EXERCISE OF OPTIONS IN   SPECIAL CIRCUMSTANCES
    	
12
    
	
 
    	
7.1.
    	
Death
    	
12
    
	
 
    	
7.2.
    	
Injury, disability,   redundancy, retirement etc.
    	
12
    
	
 
    	
7.3.
    	
Specified Age
    	
13
    
	
 
    	
7.4.
    	
Other special   circumstances
    	
13
    
	
 
    	
7.5.
    	
Office or employment in   Group Company
    	
13
    
	
 
    	
7.6.
    	
Termination of Savings   Contract
    	
13
    
	
 
    	
7.7.
    	
Meaning of ceasing to   be in Relevant Employment
    	
13
    
	
 
    	
7.8.
    	
Interaction of Rules
    	
13
    
	
8.
    	
TAKEOVER,   RECONSTRUCTION, AMALGAMATION OR WINDING-UP OF COMPANY
    	
13
    
	
 
    	
8.1.
    	
General offer for, or   acquisition of, Company
    	
13
    
	
 
    	
8.2.
    	
Compulsory acquisition   of Company
    	
14
    
	
 
    	
8.3.
    	
Reconstruction or   amalgamation of Company
    	
14
    
	
 
    	
8.4.
    	
Winding-up of Company
    	
14
    
	
 
    	
8.5.
    	
Shares subject to   Options ceasing to be Plan Shares
    	
14
    
	
 
    	
8.6.
    	
Meaning of “obtains   Control of the Company”
    	
15
    
	
 
    	
8.7.
    	
Notification of Option   Holders
    	
15
    
	
9.
    	
EXCHANGE OF OPTIONS
    	
15
    
	
 
    	
9.1.
    	
Circumstances in which   Exchange can occur
    	
15
    

 

2

	
Rule
    	
 
    	
 
    	
Page
   Number
    
	
 
    	
9.2.
    	
Period allowed for   exchange of Options
    	
15
    
	
 
    	
9.3.
    	
Meaning of “equivalent”
    	
15
    
	
 
    	
9.4.
    	
Grant Date of New   Option
    	
16
    
	
 
    	
9.5.
    	
Application of Plan to   New Option
    	
16
    
	
10.
    	
LAPSE OF OPTIONS
    	
16
    
	
11.
    	
ADJUSTMENT OF OPTIONS   ON REORGANISATION
    	
16
    
	
 
    	
11.1.
    	
Power to adjust Options
    	
16
    
	
 
    	
11.2.
    	
Exercise Price
    	
16
    
	
 
    	
11.3.
    	
Capitalisation of   reserves
    	
17
    
	
 
    	
11.4.
    	
HM Revenue &   Customs approval
    	
17
    
	
 
    	
11.5.
    	
Notification of Option   Holders
    	
17
    
	
12.
    	
ISSUE AND AVAILABILITY   OF PLAN SHARES
    	
17
    
	
 
    	
12.1.
    	
Rights attaching to   Plan Shares
    	
17
    
	
 
    	
12.2.
    	
Availability of Plan   Shares
    	
17
    
	
13.
    	
RELATIONSHIP OF PLAN TO   CONTRACT OF EMPLOYMENT
    	
17
    
	
 
    	
13.1.
    	
Contractual Provisions
    	
17
    
	
14.
    	
ADMINISTRATION OF PLAN
    	
18
    
	
 
    	
14.1.
    	
Responsibility for   administration
    	
18
    
	
 
    	
14.2.
    	
Grantor’s decision   final and binding
    	
18
    
	
 
    	
14.3.
    	
Trustees to consult   with Board
    	
18
    
	
 
    	
14.4.
    	
Provision of   information
    	
18
    
	
 
    	
14.5.
    	
Cost of Plan
    	
18
    
	
 
    	
14.6.
    	
Establishment of   separate plans for overseas territories
    	
18
    
	
 
    	
14.7.
    	
Data protection
    	
18
    
	
15.
    	
AMENDMENT OF PLAN
    	
18
    
	
 
    	
15.1.
    	
Power to amend Plan
    	
18
    
	
 
    	
15.2.
    	
HM Revenue &   Customs approval of amendments
    	
19
    
	
 
    	
15.3.
    	
Rights of existing   Option Holders
    	
19
    
	
 
    	
15.4.
    	
Notification of Option   Holders
    	
19
    
	
16.
    	
NOTICES
    	
19
    
	
 
    	
16.1.
    	
Notice by Grantor
    	
19
    
	
 
    	
16.2.
    	
Deceased Option Holders
    	
19
    
	
 
    	
16.3.
    	
Notice to Grantor
    	
19
    
	
 
    	
16.4.
    	
Option Certificate and   Notice of Option
    	
19
    
	
17.
    	
GOVERNING LAW AND   JURISDICTION
    	
19
    
	
 
    	
17.1.
    	
Plan governed by   English law
    	
19
    
	
 
    	
17.2.
    	
English courts to have   jurisdiction
    	
20
    
	
 
    	
17.3.
    	
Jurisdiction agreement   for benefit of Company
    	
20
    
	
 
    	
17.4.
    	
Option Holder deemed to   submit to such jurisdiction
    	
20
    

 

3

 

1.                                      INTERPRETATION

 

1.1.                            Definitions

 

In this Plan, unless the context otherwise requires, the following words and expressions have the following meanings:

 

1.1.1.                  Acquiring Company means a company (including a New Holding Company) which obtains Control of the Company in the circumstances referred to in Rule 8.1, 8.2 or 8.3 (reading the reference in Rule 8.3 to “proposes to obtain” as “obtains”);

 

1.1.2.                  Acting In Concert has the meaning given to that expression in The City Code on Takeovers and Mergers in its present form or as amended from time to time;

 

1.1.3.                  Adoption Date means 30 June 2007, the date on which the Plan was adopted by the Board;

 

1.1.4.                  Applicant means an Eligible Employee who applies for the grant of an Option;

 

1.1.5.                  Application means an application for the grant of an Option;

 

1.1.6.                  Application Form means the form referred to in Rule 2.2 on which an application for the grant of an Option is made;

 

1.1.7.                  Approval Date means 23 November 2007, the date on which the Plan was approved by HM Revenue & Customs under Schedule 3;

 

1.1.8.                  Associated Company has the meaning given to that expression by paragraph 47 of Schedule 3 or, where the context requires, paragraph 35(4) of Schedule 3;

 

1.1.9.                  Board means the board of directors of the Company or a duly authorised committee thereof;

 

1.1.10.           Bonus Date means

 

(a)                                 in the case of a three year Savings Contract, the earliest date on which a Standard Bonus would be payable under the Savings Contract; and

 

(b)                                 in the case of a five year Savings Contract, the earliest date on which a Standard Bonus or a Maximum Bonus would be payable under the Savings Contract, according to whether, for the purpose of determining the number of Plan Shares over which the Option linked to the Savings Contract was granted, the repayment under the Savings Contract is to be taken as including the Standard Bonus (or no bonus) or the Maximum Bonus, respectively;

 

1.1.11.           Close Company has the meaning given to that expression by section 414(1) of ICTA 1988, and paragraph 11(4) of Schedule 3;

 

1.1.12.           Company means TE Connectivity Ltd., incorporated in Switzerland, being the scheme organiser for the purposes of paragraph 2(2) of Schedule 3;

 

1.1.13.           Consortium has the meaning given to that word by paragraph 48(2) of Schedule 3;

 

1.1.14.           Constituent Company means the Company or a company which is a Subsidiary and which has been nominated by the Board to participate in the Plan from time to time;

 

1.1.15.           Continuous Employment has the meaning given by the Employment Rights Act 1996:

 

1.1.16.           Control has the meaning given to that word by section 840 of ICTA 1988;

 

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1.1.17.           Eligible Employee means an individual who is:

 

(a)                                 an employee (other than a director) of a Constituent Company; or

 

(b)                                 a director of a Constituent Company who is contracted to work at least 25 hours per week for the Group (exclusive of meal breaks);

 

and who, in either case:

 

(i)                                     is not eligible solely by reason that he is a non-executive director of a Constituent Company;

 

(ii)                                  has earnings in respect of his office or employment which are (or would be if there were any) general earnings to which section 15 or 21 of ITEPA 2003 applies;

 

(iii)                               has at the Grant Date such period of Continuous Employment as a director or employee, not exceeding five years, as the Grantor determines for the purpose of an issue of Invitations;

 

(iv)                              has not given or been given notice to terminate his employment within the Group; and

 

(v)                                 does not have at the Grant Date, and has not had during the preceding twelve months, a Material Interest in a Close Company which is the Company or a company which has Control of the Company or a member of a Consortium which owns the Company; or

 

(c)                                  a director (other than a non executive director) or employee of a Constituent Company nominated by the Grantor to be an Eligible Employee who is not prohibited from participating in the Plan by sub paragraph (v) above;

 

1.1.18.           Employees’ Share Scheme has the meaning set out in section 743 of the Companies Act 1985 or the corresponding section in the Companies Act 2006;

 

1.1.19.           Exercise Price means the amount per Plan Share payable on the exercise of an Option determined in accordance with Rule 5;

 

1.1.20.           Grant Date means the date on which an Option is granted to an Eligible Employee determined in accordance with Rule 3.3;

 

1.1.21.           Grantor means

 

(a)                                 in relation to an Option granted by the Company, the Board; and

 

(b)                                 in relation to an Option granted by the Trustees, the Trustees;

 

1.1.22.           Group means the Company and all Subsidiaries and Associated Companies of the Company and “Group Member” shall be construed accordingly;

 

1.1.23.           ICTA 1988 means the Income and Corporation Taxes Act 1988;

 

1.1.24.           Invitation means an invitation to apply for the grant of an Option issued under Rule 2.1;

 

1.1.25.           Invitation Date means the date on which an Invitation is issued;

 

1.1.26.           ITEPA 2003 means the Income Tax (Earnings and Pensions) Act 2003;

 

1.1.27.           ITTOIA 2005 means the Income Tax (Trading and Other Income) Act 2005;

 

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1.1.28.           Key Feature means a provision of the Plan which is necessary in order to meet the requirements of Schedule 3;

 

1.1.29.           Market Value means

 

(a)                                 if at the relevant time Plan Shares are listed on the New York Stock Exchange (or any other recognised investment exchange within the meaning of section 841 of ICTA 1988), the closing quotation of a Plan Share (as derived from the New York Stock Exchange or the list appropriate to such other exchange or market) for the trading day immediately preceding the Invitation Date; or

 

(b)                                 if at the relevant time Plan Shares are not so listed, the market value of a Plan Share as determined in accordance with Part VIII of the Taxation of Chargeable Gains Act 1992 and agreed in advance by the Grantor with HM Revenue & Customs Shares & Assets Valuation on the Invitation Date or such earlier date or dates as may be agreed with HM Revenue & Customs, as required;

 

1.1.30.           Material Interest has the meaning given to that expression by paragraphs 11 and 12 to 16 of Schedule 3;

 

1.1.31.           Maximum Bonus means the bonus which is payable under a five year Savings Contract, at the earliest, seven years after the starting date of the Savings Contract;

 

1.1.32.           Minimum Monthly Savings Amount means in relation to each Invitation, the minimum monthly saving which may be made by an Option Holder as determined by the Board in accordance with paragraph 25(3)(b) of Schedule 3 being not less than £5 (or such other minimum savings amount specified from time to time by HM Treasury in their Save-As-You-Earn prospectus) nor more than £10 (or such other amount as may be permitted from time to time under paragraph 25(3)(b) of Schedule 3);

 

1.1.33.           New Holding Company means a company which obtains Control of the Company where 90% or more of the New Holding Company’s ordinary shares are held in substantially the same proportions by substantially the same persons who previously held the Company’s ordinary shares;

 

1.1.34.           New Option means an option granted by way of exchange under Rule 9.1;

 

1.1.35.           New Plan Shares means the shares subject to a New Option;

 

1.1.36.           New York Stock Exchange means the New York Stock Exchange or any successor body;

 

1.1.37.           Notice of Exercise means the notice given in respect of the exercise of an Option under Rule 6.7;

 

1.1.38.           Option means a right to acquire Plan Shares granted under the Plan;

 

1.1.39.           Option Certificate means the deed or statement under which an Option is granted in accordance with Rule 3.3;

 

1.1.40.           Option Holder means an individual who holds an Option or, where the context permits, his legal personal representatives;

 

1.1.41.           Plan means Tyco Electronics Limited Savings Related Share Plan in its present form or as amended from time to time;

 

1.1.42.           Plan Shares means ordinary shares in the capital of the Company (or any shares representing them) which satisfy the conditions in paragraphs 18 to 22 of Schedule 3;

 

1.1.43.           Relevant Employment means employment with any Group Member;

 

6

 

1.1.44.           Reorganisation means any variation in the share capital of the Company, including but without limitation a capitalisation issue, rights issue, rights offer or bonus issue and a sub-division, consolidation or reduction in the capital of the Company but excluding a capitalisation issue in substitution for or as an alternative to a cash dividend;

 

1.1.45.           Rules mean the rules of the Plan;

 

1.1.46.           Savings Contract means a contract under a certified contractual savings scheme within the meaning of section 703 of ITTOIA 2005 which has been approved by HM Revenue & Customs, if applicable, for the purpose of Schedule 3;

 

1.1.47.           Schedule 3 means Schedule 3 to ITEPA 2003;

 

1.1.48.           Specified Age means 65 years;

 

1.1.49.           Standard Bonus means the earliest bonus which is payable under a Savings Contract;

 

1.1.50.           Subsidiary means a company which is a subsidiary of the Company within the meaning of section 736 of the Companies Act 1985, or the corresponding section in the Companies Act 2006, over which the Company has Control;

 

1.1.51.           Trustees means the trustees of any trust created by a Group Member which, when taken together with the Plan, constitutes an Employees’ Share Scheme;

 

1.2.                            Interpretation

 

In the Plan, unless otherwise specified:

 

1.2.1.                  the contents and rule headings are inserted for ease of reference only and do not affect the interpretation of the Plan;

 

1.2.2.                  a reference to a Rule is a reference to a rule of the Plan;

 

1.2.3.                  save as provided for by law and subject to Rule 16.4 a reference to writing includes any mode of reproducing words in a legible form and reduced to paper or electronic format or communication including, for the avoidance of doubt, correspondence via e-mail;

 

1.2.4.                  the singular includes the plural and vice versa and the masculine includes the feminine;

 

1.2.5.                  a reference to a statutory provision includes any statutory modification, amendment or re-enactment thereof; and

 

1.2.6.                  the Interpretation Act 1978 applies to the Plan in the same way as it applies to an enactment.

 

2.                                      INVITATIONS TO APPLY FOR, AND APPLICATIONS FOR, GRANT OF OPTIONS

 

2.1.                            Announcement of intention to issue Invitations by Board or Trustees

 

The Board or the Trustees may, in their absolute discretion, from time to time, announce their intention to issue Invitations in accordance with this Rule 2 to Eligible Employees to apply for the grant of Options.

 

2.2.                            Persons to whom Invitations must be issued

 

If the Grantor announces its intention to issue Invitations, it shall issue an Invitation to every person who is, or will on the Grant Date be, an Eligible Employee.

 

7

 

2.3.                            Documents which must accompany Invitation

 

An Invitation shall be accompanied by:

 

2.3.1                     an Application Form to be used by the recipient of the Invitation to apply for the grant of the Option referred to in the Invitation and to apply to enter into a Savings Contract approved by the Grantor for the purpose of that issue of Invitations and linked to the Option; and

 

2.3.2                     a copy of the Rules.

 

2.4.                            Contents of Invitation

 

An Invitation shall state:

 

2.4.1.                  the date, being not less than 14 nor more than 21 days after the date of issue of the Invitation, by which the recipient of the Invitation must submit an Application;

 

2.4.2.                  the Minimum Monthly Savings Amount under the Savings Contract linked to the Option referred to in the Invitation;

 

2.4.3.                  the Exercise Price under the Option referred to in the Invitation or the method by which the Exercise Price will be determined and notified to Eligible Employees;

 

2.4.4.                  the maximum permitted aggregate monthly savings contribution under the Savings Contract linked to the Option referred to in the Invitation taken together with savings contributions by the Applicant under any other savings contract linked to any other Option or option granted under any other SAYE option scheme approved by HM Revenue & Customs under Schedule 3, as applicable, being the lesser of £250 (or such other amount as may be permitted from time to time under paragraph 25(3)(a) of Schedule 3) and such other amount (being a multiple of £1 and not less than £5 (or such other minimum savings amount specified from time to time by HM Treasury in their Save-As-You-Earn prospectus, to the extent applicable)) as the Board may determine for the purpose of that issue of Invitations;

 

2.4.5.                  whether an Applicant must enter into a three year or a five year Savings Contract or may choose either;

 

2.4.6.                  whether, for the purpose of determining the number of Plan Shares over which the Option referred to in the Invitation is to be granted, the repayment under the Savings Contract linked to the Option must be taken as including the Maximum Bonus, the Standard Bonus or no bonus or whether the recipient of the Invitation may choose any of these; and

 

2.4.7.                  the maximum total number of Plan Shares, if any, set by the Board under Rule 4.1 over which Options will be granted in response to that issue of Invitations.

 

Subject to this Rule 2, an Invitation shall be in such form as the Grantor may determine from time to time.

 

2.5                               Contents of Application Form

 

An Application Form shall require an Applicant to state:

 

2.5.1.                  the monthly savings contribution (being a multiple of £1 and not less than £5 (or such other minimum savings amount specified from time to time by HM Treasury in their Save-As-You-Earn prospectus, to the extent applicable)) which he wishes to make under the Savings Contract linked to the Option referred to in the Invitation;

 

2.5.2.                  that his proposed monthly savings contribution, when added to any monthly savings contributions then being made by him under any other Savings Contract linked to an Option or to an option granted under any other SAYE option scheme approved by HM Revenue & Customs under Schedule 3, as applicable, will not exceed the maximum permitted aggregate monthly savings contribution specified in the Invitation;

 

8

 

2.5.3.                  where appropriate, whether he wishes to enter into a three or five year Savings Contract, and, in the case of a five year Savings Contract, whether he wishes it to be linked to the Maximum Bonus or the Standard Bonus; and

 

2.5.4.                  where appropriate, whether, for the purpose of determining the number of Plan Shares over which the Option referred to in the Invitation is to be granted, he wishes the repayment under the Savings Contract linked to the Option to be taken as including a bonus or no bonus;

 

and shall authorise the Grantor to enter on the Application Form, on behalf of the Applicant, such monthly savings contribution, not exceeding the maximum stated on the Application Form, as the Grantor determines under Rule 3.6.

 

Subject to this Rule 2, an Application Form shall be in such form as the Grantor may determine from time to time.

 

2.6                               Number of Plan Shares applied for in Application

 

An Application shall be deemed to be for the grant of an Option over the maximum whole number of Plan Shares which may be acquired at the Exercise Price out of the expected repayment (including any bonus where permitted under Rule 2.3.6 and requested by the Applicant pursuant to Rule 2.4.4) under the Savings Contract linked to the Option at the applicable Bonus Date.

 

2.7                               Making of Applications

 

The recipient of an Invitation who wishes to apply for the grant of the Option referred to in the Invitation shall submit to the Grantor, within the period specified in the Invitation, a duly completed Application Form.

 

3.                                      GRANT OF OPTIONS

 

3.1.                            Options granted by Company or Trustees

 

The Company or the Trustees may from time to time grant Options to Eligible Employees.

 

3.2.                            Persons to whom Options must be granted

 

The Grantor shall grant the Option referred to in each Invitation in respect of which the Grantor has received a valid Application and, where Rule 3.6.4 applies, which has been selected by lot.

 

3.3.                            Procedure for grant of Options and Grant Date

 

The Grantor shall grant an Option by passing a resolution. The Grant Date shall be the date on which the Grantor passes the resolution or such later date as is specified in the resolution and allowed by Rules 3.7 and 3.8. The grant of an Option or Options shall be evidenced by a deed executed by or on behalf of the Grantor. The deed or a statement providing details of the grant shall be issued to each Applicant who has been granted an Option as soon as reasonably practicable following the grant of the Option.

 

3.4.                            Contents of Option Certificate

 

An Option Certificate shall state:

 

·                  the Grant Date;

 

·                  the number of Plan Shares subject to the Option;

 

·                  the Exercise Price; and

 

·                  the Bonus Date, being the date on which the Option will ordinarily become exercisable.

 

Subject thereto, an Option Certificate shall be in such form as the Board may determine from time to time.

 

9

 

3.5.                            Number of Plan Shares over which Options granted

 

An Option shall be granted over the number of Plan Shares for which the Applicant is deemed under Rule 2.5 or 3.6, as appropriate, to have applied.

 

3.6.                            Scaling down of Applications

 

If the Grantor receives Applications for the grant of Options over a number of Plan Shares in excess of any of the limits in Rule 4, it shall, to the extent necessary to eliminate the excess, take the following steps in the following order or such other steps as it may agree in advance with HM Revenue & Customs, as so required:

 

3.6.1.                  first, for the purpose of determining the number of Plan Shares over which the Option referred to in an Invitation is to be granted, it shall take the repayment under the Savings Contract linked to the Option as including the Standard Bonus instead of the Maximum Bonus;

 

3.6.2.                  secondly, it shall take the repayment under the Savings Contract linked to the Option as including no bonus instead of the Standard Bonus;

 

3.6.3.                  thirdly, it shall reduce pro rata the excess over £5 (or such other minimum savings amount specified from time to time by HM Treasury in their Save-As-You-Earn prospectus, to the extent applicable), or such greater amount as the Grantor may determine, of the monthly savings contribution selected by each Applicant;

 

3.6.4.                  fourthly, it shall select Applications by lot and each Application shall be deemed to be for a monthly savings contribution of £5 (or such other minimum savings amount specified from time to time by HM Treasury in their Save-As-You-Earn prospectus, to the extent applicable) only with the repayment under the Savings Contract linked to the Option taken as including no bonus.

 

Each Application shall be deemed to have been withdrawn or amended accordingly and the Grantor shall amend each Application Form to reflect any reduction in the bonus or the monthly savings contribution resulting therefrom.

 

For the purpose of applying this Rule 3.6, if an Applicant has made multiple Applications, the Applications shall be treated as a single Application and the monthly savings contributions applied for in the Applications shall be aggregated.

 

3.7.                            Period allowed for grant of Options

 

An Option may be granted only during the period of thirty days beginning on the earliest of the dates referred to in the definition of “Market Value” and used for the purpose of determining the Exercise Price or, if Rule 3.6 applies, during the period of forty two days beginning on the earliest of such dates.

 

3.8.                            Duration of Plan

 

An Option may not be granted earlier than the Approval Date. The Plan will continue in effect until it is terminated by action of the Board or as otherwise provided hereunder.

 

3.9.                            Persons to whom Options may be granted

 

The Grantor may not grant an Option to an individual who is not an Eligible Employee on the Grant Date.

 

3.10.                     Options non-transferable

 

An Option shall be personal to the Eligible Employee to whom it is granted and, subject to Rule 7.1, shall not be capable of being transferred, charged or otherwise alienated and shall lapse immediately if the Option Holder purports to transfer, charge or otherwise alienate the Option.

 

10

 

4.                                      LIMIT ON AGGREGATE NUMBER OF PLAN SHARES PLACED UNDER OPTION

 

4.1.                            Power to set limit

 

The Board may, in its absolute discretion, from time to time set a maximum limit on the total number of Plan Shares which may be placed under Option under the Plan in response to an issue of Invitations (but no such limit shall invalidate any Option granted prior to such limit being set).

 

5.                                      EXERCISE PRICE

 

The Exercise Price shall be determined by the Board and may be any price but shall not be less than the higher of:

 

(a)                                 eighty percent of the Market Value of a Plan Share; and

 

(b)                                 in the case of any Option which will be satisfied by the issue of new shares the nominal value of a Plan Share.

 

6.                                      EXERCISE OF OPTIONS

 

6.1.                            Earliest date for exercise of Options

 

Subject to Rules 7 and 8, an Option may not be exercised before the Bonus Date.

 

6.2.                            Latest date for exercise of Options

 

Subject to Rule 7.1, an Option may not be exercised more than six months after the Bonus Date and if not exercised by that date shall lapse immediately.

 

6.3.                            Persons who may exercise Options

 

Subject to Rule 7, an Option may be exercised only while the Option Holder is in Relevant Employment and if an Option Holder ceases to be in Relevant Employment, any Option granted to him shall lapse immediately. This Rule 6.3 shall apply where the Option Holder ceases to be in Relevant Employment in any circumstances (including, in particular, but not by way of limitation, where the Option Holder is dismissed unfairly, wrongfully, in breach of contract or otherwise).

 

6.4.                            Material Interest

 

An Option may not be exercised if the Option Holder then has, or has had within the preceding twelve months, a Material Interest in a Close Company which is the Company or which is a company which has Control of the Company or which is a member of a Consortium which owns the Company.

 

6.5.                            Number of Plan Shares acquired on exercise of Options

 

The number of Plan Shares which may be acquired on the exercise of an Option shall be limited to the maximum whole number which may be acquired at the Exercise Price out of the repayment (including any interest or bonus that has been taken into account in determining the number of Plan Shares over which the Option was granted) received by the Option Holder under the Savings Contract linked to the Option.

 

6.6.                            Options may be exercised in whole or in part

 

An Option may, to the extent it has become exercisable, be exercised in whole or in part. If exercised in part, the unexercised part of the Option shall lapse.

 

11

 

6.7.                            Procedure for exercise of Options

 

6.7.1.                  An Option shall be exercised by the Option Holder delivering to the Grantor a duly completed Notice of Exercise in the form from time to time prescribed by the Grantor, specifying the number of Plan Shares in respect of which the Option is being exercised, and accompanied by evidence of the termination of the Savings Contract linked to the Option, payment in full for the Plan Shares (which shall not exceed the repayment, including any interest or bonus, received by the Option Holder under the linked Savings Contract) and, if available, the Option Certificate. Such payment may be made by the Option Holder or by the bank or building society with which the Savings Contract was made.

 

6.7.2.                  For the avoidance of doubt, the date of exercise of an Option shall be determined in accordance with Rule 16.3. If payment is made by cheque and the cheque fails to clear the Option shall be deemed never to have been exercised.

 

6.8.                            Issue or transfer of Plan Shares on exercise of Options

 

Subject to any necessary consents and to compliance by the Option Holder with the Rules, the Grantor shall, as soon as reasonably practicable and in any event not later than thirty days after the date of exercise of the Option, issue or transfer to the Option Holder, or procure the issue or transfer to the Option Holder of, the number of Plan Shares specified in the Notice of Exercise and shall deliver or procure the delivery to the Option Holder of a definitive share certificate in respect of such Plan Shares.

 

6.9.                            Amount of repayment under Savings Contract

 

For the purpose of Rules 6.5 and 6.7, the repayment received under a Savings Contract shall exclude the repayment of any contribution the due date for payment of which falls after any date on which the Option Holder ceases to be in Relevant Employment.

 

7.                                      EXERCISE OF OPTIONS IN SPECIAL CIRCUMSTANCES

 

7.1.                            Death

 

Notwithstanding Rules 6.1, 6.2 and 6.3, if an Option Holder dies before the Bonus Date, his personal representatives shall be entitled to exercise his Options at any time during the twelve month period after his death. If not so exercised, the Options shall lapse immediately.

 

Notwithstanding Rules 6.2 and 6.3, if an Option Holder dies during the period of six months after the Bonus Date, his personal representatives shall be entitled to exercise his Options at any time during the twelve month period after the Bonus Date. If not so exercised, the Options shall lapse immediately.

 

7.2.                            Injury, disability, redundancy, retirement etc

 

Subject to Rule 7.5, notwithstanding Rules 6.1 and 6.3, if an Option Holder ceases to be in Relevant Employment by reason of:

 

7.2.1.                  injury or disability;

 

7.2.2.                  redundancy within the meaning of the Employment Rights Act 1996;

 

7.2.3.                  retirement on or after reaching the Specified Age or any other age at which he is bound to retire under the terms of his contract of employment;

 

7.2.4.                  his office or employment ceasing to be a Relevant Employment because

 

7.2.4.1.        it is in a company which ceases to be a member of the Group; or

 

12

 

7.2.4.2.        it relates to a business or part of a business which is transferred to a person who is not a member of the Group

 

he shall be entitled to exercise his Options at any time during the period of six months after the date he ceased to be in Relevant Employment except that in the case of cessation of employment by reason of a circumstance within Rules 7.2.1, 7.2.2 or 7.2.3 occurring within the six month period after an event to which Rule 7.2.4 applied he shall be entitled to exercise his Options within the six month period after such cessation of employment.

 

7.3.                            Specified Age

 

If an Option Holder continues to be employed after the date on which he reaches the Specified Age, he shall be entitled to exercise his Options at any time during the six month period thereafter. If not so exercised, the Options shall not lapse but shall be exercisable or not, as the case may be, in accordance with the rules of the Plan.

 

7.4.                            Other special circumstances

 

If an Option Holder ceases to be in Relevant Employment for a reason other than those referred to in Rules 7.1 and 7.2 and within three years after the Grant Date, the Option shall lapse immediately.

 

If an Option Holder ceases to be in Relevant Employment for a reason other than those referred to in Rules 7.1 and 7.2 and more than three years after the Grant Date, he shall be entitled to exercise the Option at any time during the six month period thereafter. If not so exercised, the Option shall lapse immediately.

 

7.5.                            Office or employment in Group Company

 

If, at the relevant Bonus Date, an Option Holder holds an office or employment in a company which is not a Constituent Company but which is a member of the Group he shall be entitled to exercise his Options at any time during the six month period thereafter.

 

7.6.                            Termination of Savings Contract

 

If an Option Holder gives, or is deemed under the terms of his Savings Contract to have given, notice that he intends to cease paying contributions under his Savings Contract, the Option linked to the Savings Contract shall lapse immediately unless the Option has already become exercisable in accordance with the rules of the Plan.

 

7.7.                            Meaning of ceasing to be in Relevant Employment

 

For the purpose of Rules 6.3, 7.2, 7.4, and 10.1.2, an Option Holder shall not be treated as ceasing to be in Relevant Employment until he no longer holds any office or employment with a member of the Group.

 

7.8.                            Interaction of Rules

 

7.8.1.                  If an Option has become exercisable under Rule 7.2 or 7.3 and, during the period allowed for the exercise of the Option under Rule 7.2 or 7.3, the Option Holder dies, the period allowed for the exercise of the Option shall be the period allowed by Rule 7.1.

 

7.8.2.                  If an Option has become exercisable under Rule 7 and, during the period allowed for the exercise of the Option under Rule 7, the Option becomes exercisable under Rule 8 also (or vice versa), the period allowed for the exercise of the Option shall be the first to determine of the period allowed by Rule 7 and the period allowed by Rule 8.

 

8.                                      TAKEOVER, RECONSTRUCTION, AMALGAMATION OR WINDING-UP OF COMPANY

 

8.1.                            General offer for, or acquisition of, Company

 

Notwithstanding Rule 6.1, if a person other than a New Holding Company obtains Control of the Company as a result of:

 

13

 

8.1.1.                  making a general offer to acquire the whole of the issued ordinary share capital of the Company which is made on a condition such that if it is satisfied the person making the offer will have Control of the Company; or

 

8.1.2.                  making a general offer to acquire all the shares in the Company of the same class as the Plan Shares

 

(in either case, other than any shares already held by him or a person Acting In Concert with him)

 

all Options may be exercised, subject to Rule 8.2, at any time during the period of six months beginning with the time when the person making the offer or proposed acquisition (as the case may be) has obtained Control of the Company and any condition subject to which the offer or proposed acquisition is made has been satisfied. If not so exercised, the Options shall lapse at the expiry of the six month period.

 

8.2.                            Compulsory acquisition of Company

 

Notwithstanding Rule 6.1, if a person, other than a New Holding Company, becomes entitled to serve a Section 102 Notice to acquire shares in the Company, all Options may be exercised at any time during the period beginning with the date the person serves a Section 102 Notice and ending seven clear days before the date on which the person ceases to be entitled to serve such a notice. If not so exercised, the Options shall cease to be exercisable and shall lapse when the person ceases to be entitled to serve such a notice.

 

8.3.                            Reconstruction or amalgamation of Company

 

Notwithstanding Rule 6.1, if a person, other than a New Holding Company, proposes to obtain Control of the Company in pursuance of a compromise or arrangement sanctioned by the court under section 101 of the Companies Act 1981 of Bermuda:

 

8.3.1.                  Option Holders may exercise all Options , on the compromise or arrangement being sanctioned by the court, or within the six month period following this date;

 

8.3.2.                  if the compromise or arrangement becomes effective, any Options not so exercised shall cease to be exercisable and shall lapse at the end of such six month period;

 

8.3.3.                  an Option which has already become exercisable may be exercised unconditionally before the court sanction of the compromise arrangement. Any Option not so exercised shall cease to be exercisable and shall lapse at the end of such six month period.

 

8.4.                            Winding-up of Company

 

If notice is given of a resolution for the voluntary winding-up of the Company:

 

8.4.1.                  Option Holders may exercise all Options , on the passing of the resolution or within the two month period following this date;

 

8.4.2.                  if the resolution is passed, any Options not so exercised shall lapse immediately;

 

8.4.3.                  an Option which has already become exercisable may be exercised unconditionally during such period. Any Option not so exercised shall cease to be exercisable and shall lapse immediately following the passing of the resolution.

 

8.5.                            Shares subject to Options ceasing to be Plan Shares

 

If the shares subject to an Option cease to satisfy the conditions in paragraphs 18 to 22 of Schedule 3:

 

8.5.1.                  the definition of “Plan Shares” shall be amended by the deletion of the words “which satisfy the conditions in paragraphs 18 to 22 of Schedule 3”;

 

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8.5.2.                  the Grantor shall, as soon as reasonably practicable, notify HM Revenue & Customs as required;

 

8.5.3.                  the Option shall continue to exist and shall continue to be entitled to exemptions from income tax applying to an SAYE option scheme approved under Schedule 3 subject to any determination by HM Revenue & Customs, as required, to withdraw approval under paragraph 42 of Schedule 3; and

 

8.5.4.                  the Plan shall continue to exist but, if HM Revenue & Customs withdraw approval of the Plan under Schedule 3, if applicable, as a non HM Revenue & Customs approved plan.

 

8.6.                            Meaning of “obtains Control of the Company”

 

For the purpose of Rule 8, a person shall be deemed to have obtained Control of the Company if he and others Acting In Concert with him have together obtained Control of it.

 

8.7.                            Notification of Option Holders

 

The Grantor shall, as soon as reasonably practicable, notify each Option Holder of the occurrence of any of the events referred to in this Rule and explain how this affects his position under the Plan.

 

9.                                      EXCHANGE OF OPTIONS

 

9.1.                            Circumstances in which Exchange can occur

 

If the person referred to in Rules 8.1, 8.2 or 8.3, (reading the reference in Rule 8.3 to “proposes to obtain” as “obtains”) including a New Holding Company, an Option Holder may, at any time during the period set out in Rule 9.2, by agreement with the Acquiring Company, release his Option in consideration of the grant to him of a new option which is equivalent to the Option but which relates to shares in:

 

9.1.1.                  the Acquiring Company; or

 

9.1.2.                  a company which has Control of the Acquiring Company; or

 

9.1.3.                  a company which either is, or has Control of, a company which is a member of a Consortium which owns either the Acquiring Company or a company having Control of the Acquiring Company.

 

9.2.                            Period allowed for exchange of Options

 

The period referred to in Rule 9.1 is:

 

9.2.1.                  where Rule 8.1 applies or would apply if the reference in that Rule to “person” was read as “person including a New Holding Company”, the period referred to in that Rule;

 

9.2.2.                  where Rule 8.2 applies, the period during which the Acquiring Company remains so entitled or bound; and

 

9.2.3.                  where Rule 8.3 applies, the period of six months beginning with the time when the court sanctions the compromise or arrangement.

 

9.3.                            Meaning of “equivalent”

 

The New Option shall not be regarded for the purpose of this Rule 9 as equivalent to the Option unless:

 

9.3.1.                  the New Plan Shares satisfy the conditions in paragraphs 18 to 22 of Schedule 3; and

 

9.3.2.                  the New Option will be exercisable in the same manner as the Option and subject to the provisions of the Plan as it had effect immediately before the release of the Option;

 

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9.3.3.                  the total market value, immediately before the release of the Option, of the Plan Shares which were subject to the Option is as nearly as may be equal to the total market value, immediately after the grant of the New Option, of the New Plan Shares subject to the New Option (market value being determined for this purpose in accordance with Part VIII of the Taxation of Chargeable Gains Act 1992); and

 

9.3.4.                  the total amount payable by the Option Holder for the acquisition of the New Plan Shares under the New Option is as nearly as may be equal to the total amount that would have been payable by the Option Holder for the acquisition of the Plan Shares under the Option.

 

9.4.                            Grant Date of New Option

 

The Grant Date of the New Option shall be deemed to be the same as the Grant Date of the Option.

 

9.5.                            Application of Plan to New Option

 

In the application of the Plan to the New Option, where appropriate, references to “Company” and “Plan Shares” shall be read as if they were references to the company to whose shares the New Option relates and the New Plan Shares, respectively, save that in the definition of “Board” the reference to “Company” shall be read as if it were a reference to Tyco Electronics Limited.

 

10.                               LAPSE OF OPTIONS

 

An Option shall lapse on the earliest of:

 

10.1.1.           subject to Rule 7.1, six months after the Bonus Date;

 

10.1.2.           subject to Rules 7.1, 7.2 and 7.4, the Option Holder ceasing to be in Relevant Employment;

 

10.1.3.           the date on which it is provided that the Option shall lapse under Rules 7.1, 7.2 and 7.4 and 8.1 to 8.4;

 

10.1.4.           the date on which a resolution is passed or an order is made by the court for the compulsory winding-up of the Company;

 

10.1.5.           the date on which the Option Holder becomes bankrupt or enters into a compromise with his creditors generally;

 

10.1.6.           before an Option has become capable of being exercised, the Option Holder giving notice that he intends to stop paying monthly contributions, or being deemed under the terms of the Savings Contract to have given such notice or making an application for the repayment of his aggregate monthly contributions; and

 

10.1.7.           the date on which the Option Holder purports to transfer, charge or otherwise alienate the Option.

 

11.                               ADJUSTMENT OF OPTIONS ON REORGANISATION

 

11.1.                     Power to adjust Options

 

In the event of a Reorganisation, the number of Plan Shares subject to an Option, the description of the Plan Shares, the Exercise Price, or any one or more of these, may be adjusted in such manner as the Board or, where the Trustees are the Grantor, the Trustees and the Board together determine.

 

11.2.                     Exercise Price

 

Subject to Rule 11.3, no adjustment shall be made to the Exercise Price which would result in the Plan Shares subject to an Option being issued directly to the Option Holder at a price per Plan Share lower than the nominal value of a Plan Share and, if an adjustment would so result, the Exercise Price shall be the nominal value of a Plan Share.

 

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11.3.                     Capitalisation of reserves

 

Notwithstanding Rule 11.2, an adjustment may be made which would result in the Plan Shares subject to an Option being issued at a price per Plan Share lower than the nominal value of a Plan Share if and to the extent that the Board is authorised to capitalise from the Company’s reserves a sum equal to the amount by which the aggregate nominal value of the Plan Shares subject to the Options which are adjusted exceeds the aggregate adjusted Exercise Price under such Options. If such an adjustment is made, on the subsequent exercise of the Option, the Board shall capitalise such sum and apply the sum in paying up such excess.

 

11.4.                     HM Revenue & Customs approval

 

An adjustment shall not have effect until the adjustment has been approved by HM Revenue & Customs, if so required.

 

11.5.                     Notification of Option Holders

 

The Grantor shall, as soon as reasonably practicable, notify each Option Holder of any adjustment made under this Rule 11 and explain how this affects his position under the Plan. The Grantor may call in for endorsement or cancellation and re-issue any Option Certificate in order to take account of such adjustment.

 

12.                               ISSUE AND AVAILABILITY OF PLAN SHARES

 

12.1.                     Rights attaching to Plan Shares

 

All Plan Shares issued in respect of exercise of an Option shall, as to voting, dividend, transfer and other rights, including those arising on a liquidation of the Company, rank equally in all respects and as one class with the Plan Shares in issue at the date of such issue save as regards any rights attaching to such Plan Shares by reference to a record date prior to the date of such issue.

 

12.2.                     Availability of Plan Shares

 

The Company shall at all times use its reasonable endeavours to keep available sufficient authorised but unissued Plan Shares to satisfy the exercise of all Options which the Board has determined will be satisfied by the issue of Plan Shares (whether directly to the Option Holder or indirectly via the Trustees).

 

13.                               RELATIONSHIP OF PLAN TO CONTRACT OF EMPLOYMENT

 

13.1.                     Contractual Provisions

 

Notwithstanding any other provision of the Plan:

 

13.1.1.           the Plan shall not form part of any contract of employment between any Group Member and an Eligible Employee;

 

13.1.2.           unless expressly so provided in his contract of employment, an Eligible Employee has no right to be granted an Option;

 

13.1.3.           the benefit to an Eligible Employee of participation in the Plan (including, in particular but not by way of limitation, any Options held by him) shall not form any part of his remuneration or count as his remuneration for any purpose and, for the purposes of his contract of employment, shall not be pensionable; and

 

13.1.4.           if an Eligible Employee ceases to be in Relevant Employment, he shall not be entitled to compensation for the loss of any right or benefit or prospective right or benefit under the Plan (including, in particular but not by way of limitation, any Options held by him which lapse by reason of his ceasing to be in Relevant Employment) whether by way of damages for unfair dismissal, wrongful dismissal, breach of contract or otherwise.

 

By applying for an Option an Option Holder is deemed to have agreed to the provisions of this Rule 13.

 

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14.                               ADMINISTRATION OF PLAN

 

14.1.                     Responsibility for administration

 

The Company, and the Grantor where appropriate, shall be responsible for, and shall have the conduct of, the administration of the Plan. The Grantor may from time to time make, amend or rescind regulations for the administration of the Plan provided that such regulations shall be consistent with the Rules and not cause any of the provisions of Schedule 3 which are relevant to the Plan to cease to be satisfied.

 

14.2.                     Grantor’s decision final and binding

 

The decision of the Grantor shall be final and binding in all matters relating to the administration of the Plan, including but not limited to the resolution of any dispute concerning, or any inconsistency or ambiguity in the Rules or any document used in connection with the Plan.

 

14.3.                     Trustees to consult with Board

 

Where the Trustees have granted, or propose to grant, an Option, the Trustees shall consult with, and take account of the wishes of, the Board before making any determination or exercising any power or discretion under the Plan.

 

14.4.                     Provision of information

 

The Trustees and an Option Holder shall provide to the Company as soon as reasonably practicable such information as the Company reasonably requests for the purpose of complying with its obligations under paragraph 45 of Schedule 3.

 

14.5.                     Cost of Plan

 

The cost of introducing and administering the Plan shall be met by the Company. The Company shall be entitled, if it wishes, to charge an appropriate part of such cost to a Subsidiary. The Company shall also be entitled, if it wishes, to charge to a Subsidiary the opportunity cost of issuing Plan Shares to an Option Holder employed by the Subsidiary in relation to his exercise of an Option.

 

14.6.                     Establishment of separate plans for overseas territories

 

The Company may establish separate plans to operate in overseas territories or in respect of overseas employees which are on substantially the same terms as the Plan but which make such modifications to the terms as are necessary or expedient to take account of local tax, exchange control or securities laws in any one or more overseas territories (a “Modified Plan”). Rule 4 shall apply so as to limit the number of Plan Shares which may be placed under Option under a Modified Plan and Plan Shares placed under an Option granted under a Modified Plan shall be included for the purpose of the limit set out in Rule 4.

 

For the avoidance of doubt, such plans shall not be intended to be subject to HM Revenue & Customs approval under Schedule 3 and no modifications made in accordance with this clause shall affect the Plan.

 

14.7.                     Data protection

 

By applying for an Option, an Option Holder is deemed to consent to the holding and processing of personal data provided by the Option Holder to the Company for all purposes relating to the operation of the Plan.

 

15.                               AMENDMENT OF PLAN

 

15.1.                     Power to amend Plan

 

Subject to Rules 15.2 to 15.3, the Board may from time to time amend the rules of the Plan.

 

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15.2.                     HM Revenue & Customs approval of amendments

 

Save for an amendment pursuant to Rule 8.5, an amendment to a Key Feature of the Plan shall not have effect at a time when the Plan is approved by HM Revenue & Customs, until the amendment has been approved by HM Revenue & Customs under Schedule 3, but only to the extent that such approval is required.

 

15.3.                     Rights of existing Option Holders

 

An amendment may not adversely affect the rights of an existing Option Holder except where the amendment has been approved by those existing Option Holders who would be adversely affected by the amendment in such manner as would be required by the Company’s articles of association (with appropriate changes) if the Plan Shares subject to those Options which would be so adversely affected had been issued or transferred to them (so that they had become shareholders in the Company) and constituted a separate class of shares.

 

15.4.                     Notification of Option Holders

 

The Board shall, as soon as reasonably practicable, notify each Option Holder of any amendment to the Rules under this Rule 15 and explain how it affects his position under the Plan.

 

16.                               NOTICES

 

16.1.                     Notice by Grantor

 

Save as provided for by law and subject to Rule 16.4, any notice, document or other communication given by, or on behalf of, the Grantor or to any person in connection with the Plan shall be deemed to have been duly given if delivered to him at his place of work, if he is in Relevant Employment if sent by e-mail to such e-mail address as may be specified by him from time to time, or sent through the post in a pre-paid envelope to the postal address last known to the Company to be his address and, if so sent, shall be deemed to have been duly given on the date of posting.

 

16.2.                     Deceased Option Holders

 

Save as provided for by law and subject to Rule 16.4, any notice, document or other communication so sent to an Option Holder shall be deemed to have been duly given notwithstanding that such Option Holder is then deceased (and whether or not the Grantor has notice of his death) except where his personal representatives have established their title to the satisfaction of the Grantor and supplied to the Grantor an e-mail or postal address to which notices, documents and other communications are to be sent.

 

16.3.                     Notice to Grantor

 

Save as provided for by law and subject to Rule 16.4, any notice, document or other communication given to the Grantor in connection with the Plan shall be delivered or sent by post to the Company Secretary at the Company’s registered office or such other e-mail or postal address as may from time to time be notified to Option Holders but shall not in any event be duly given unless and until it is actually received at the registered office or such e-mail or postal address and shall be deemed to have been duly given on the date of such receipt.

 

16.4.                     Option Certificate and Notice of Option

 

For the avoidance of doubt, the Option Certificate and Notice of Option may not be executed or delivered by e-mail or other such similar electronic communication.

 

17.                               GOVERNING LAW AND JURISDICTION

 

17.1.                     Plan governed by English law

 

The formation, existence, construction, performance, validity and all aspects whatsoever of the Plan, any term of the Plan and any Option granted under it shall be governed by English law.

 

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17.2.                     English courts to have jurisdiction

 

The English courts shall have jurisdiction to settle any dispute which may arise out of, or in connection with, the Plan.

 

17.3.                     Jurisdiction agreement for benefit of Company

 

The jurisdiction agreement contained in this Rule 17 is made for the benefit of the Company only, which accordingly retains the right to bring proceedings in any other court of competent jurisdiction.

 

17.4.                     Option Holder deemed to submit to such jurisdiction

 

By executing and returning the Option Certificate to the Grantor, an Option Holder is deemed to have agreed to submit to such jurisdiction.

 

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