Document:

Exhibit 10.2

 

UNIONBANCAL CORPORATION

 

BRIDGE AWARD AGREEMENT

 

This Agreement is made as of             ,
2008, (the “Award Date”), between UNIONBANCAL CORPORATION (the “Company” or “UNBC”)
and «Agreement_Name» (“Participant”).

 

WITNESSETH:

 

WHEREAS,
the Company has adopted the UnionBanCal Corporation Bridge Plan (the “Plan”)
authorizing the grant of awards to eligible individuals in connection with the
performance of services for the Company and its Subsidiaries (as defined in the
Plan), subject to the closing of the merger of the Company with a subsidiary of
The Bank of Tokyo-Mitsubishi UFJ, Ltd. (“BTMU”) pursuant to an Agreement and
Plan of Merger between the Company and BTMU dated August 18, 2008 (the “Transaction”).
The Plan, including the definition of terms, is incorporated in this Agreement
by reference and made a part of it.  In
the event of any conflict among the provisions of the Plan document and this
Agreement, the Plan document shall prevail; and

 

WHEREAS,
the Company regards Participant as a valuable contributor to the Company, and
has determined that it would be to the advantage and interest of the Company
and its shareholders to grant to Participant the award provided for in this
Agreement;

 

NOW,
THEREFORE, in consideration of the foregoing premises, and the mutual covenants
herein contained, the parties to this Agreement hereby agree as follows:

 

1.         Bridge Award.  Participant shall be eligible for payment of
a Bridge Award equal to $               
subject to continued employment during the Incentive Period beginning on the
Award Date and ending on               ,
and an award equal to $         subject
to continued employment during the Incentive Period beginning on             
and ending on               .

 

2.         Payment of Bridge Awards.  If earned, the Bridge Award shall be paid to Participant
within 2-1/2 months following the end of the applicable Incentive Period.  The Company shall, to the extent required by
law, have the right to deduct from any payments hereunder the amount of any
federal, state or local taxes required by law to be withheld.

 

3.         Designation of
Beneficiaries.  On a form
provided to the Company, Participant may designate a beneficiary or
beneficiaries to receive, in the event of Participant’s death, all or part of
any amounts to be distributed to Participant under the Plan.

 

4.         Employee Rights.  Participant may not assign or transfer his or
her rights under the Plan except as expressly provided under the Plan.  Participation in the Plan does not create a
contract of employment, imply or confer any other employment rights, or confer
any ownership, security or other rights to Company assets. The Bridge Award is
a one-time, special award which is not part of basic compensation or earnings
for any purpose, including without limitation the calculation of pension, 401(k) or
other retirement benefits.

 

1

 

5.         Termination of
Employment or Leave of Absence.  Termination of employment prior to the end of
an Incentive Period (or before the commencement of an Incentive Period) shall
result in forfeiture of all opportunity to receive a Bridge Award for that
Incentive Period, except as provided below:

 

(a)           If Participant’s employment is terminated at any
time during an Incentive Period under circumstances which render Participant
eligible for severance benefits from the Company (and provided Participant has
executed a release agreement), Participant shall be eligible to receive payment
of the Bridge Award for that Incentive Period and for the subsequent Incentive
Period, if applicable.

 

(b)           If Participant’s employment is terminated at any
time during an Incentive Period by reason of death, Participant (or Participant’s
beneficiary or estate in the event of death) will be eligible to receive a pro
rata Bridge Award for that Incentive Period based on the time employed during
that Incentive Period, rounded to the nearest complete month, but will not be
eligible to receive a Bridge Award for the subsequent Incentive Period, if
applicable.

 

(c)           Payment of a Bridge Award under this Section 5(a) shall
be made within 2-1/2 months following the employment termination date.

 

The
Company shall also have discretion to reduce the amount of a Bridge Award on a
pro rata basis to reflect periods of time during an Incentive Period when
Participant is on a leave of absence of more than sixty (60) days.

 

6.         Mandatory Arbitration.  Any dispute arising out of or relating to
this Agreement, including its meaning or interpretation, shall be resolved
solely by arbitration before an arbitrator selected in accordance with the rules of
the American Arbitration Association. 
The location for the arbitration shall be in San Francisco, Los Angeles
or San Diego as selected by the Company in good faith. Judgment on the award
rendered may be entered in any court having jurisdiction.  The party the arbitrator determines is the
prevailing party shall be entitled to have the other party pay the expenses of
the prevailing party, and in this regard the arbitrator shall have the power to
award recovery to such prevailing party of all costs and fees (including
attorney fees and a reasonable allocation for the costs of the Company’s
in-house counsel), administrative fees, arbitrator’s fees and court costs, all
as determined by the arbitrator.  Absent
such award of the arbitrator, each party shall pay an equal share of the
arbitrator’s fees.  All statutes of
limitation which would otherwise be applicable shall apply to any arbitration
proceeding under this paragraph.  The
provisions of this paragraph are intended by Participant and the Company to be
exclusive for all purposes and applicable to any and all disputes arising out
of or relating to this Agreement.  The
arbitrator who hears and decides any dispute shall have jurisdiction and authority
only to award compensatory damages to make whole a person or entity sustaining
foreseeable economic damages, and, shall not have jurisdiction and authority to
make any other award of any type, including without limitation, punitive
damages, unforeseeable economic damages, damages for pain, suffering or
emotional distress, or any other kind or form of damages.  The remedy, if any, awarded by the arbitrator
shall be the sole and exclusive remedy for any dispute which is subject to
arbitration under this paragraph.

 

2

 

7.         California Law.  The Plan and this Agreement shall be
construed and enforced according to the laws of the State of California to the
extent not preempted by the federal laws of the United States of America.

 

8.         Section 409A.  If payment of a Bridge Award is due upon a
termination of employment, and the Company determines that the award is
nonqualified deferred compensation subject to Section 409A of the Internal
Revenue Code, then for purposes of determining the timing of the payment, “termination
of employment” shall mean a “separation from service” as defined under Section 409A.  In addition, if Participant is a “specified
employee” (as defined under Section 409A) at the of such separation from
service, payment shall be delayed until six months and one day following such separation
from service (or, if earlier, Participant’s death) if the Company determines
that such delayed payment is required in order to avoid a prohibited
distribution under Section 409A(a)(2) of the Internal Revenue Code.

 

9.         Entire Agreement.  The Plan and this Agreement constitute the
entire agreement between the Company and Participant pertaining to the subject
matter hereof, and supersedes all prior or contemporaneous written or verbal
agreements and understandings between the parties in connection therewith.  Participant acknowledges that this Agreement
is subject to the closing of the Transaction. 
If the Transaction is not consummated, this Agreement shall be null and
void and no amounts shall be payable to Participant hereunder.

 

IN WITNESS WHEREOF, the parties hereto
have duly executed this Agreement as of the date first above written.  Participant also hereby acknowledges receipt
of a copy of the UnionBanCal Corporation Bridge Plan.

 

UnionBanCal
Corporation

 

 

By:

 

 

	
   

  	
   

  	
   

  
	
   

  	
  Participant
  Signature

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  «Agreement_Name»

  	
  «EmpNo»

  
	
   

  	
  Participant
  Printed Name

  	
  Employee
  #

  

 

3Exhibit 10.3

 

UNIONBANCAL CORPORATION

BRIDGE AWARD AGREEMENT

 

This Agreement is made as of             ,
2008 (the “Award Date”), between UNIONBANCAL CORPORATION (the “Company” or “UNBC”)
and David I. Matson (“Participant”).

 

WITNESSETH:

 

WHEREAS,
the Company has adopted the UnionBanCal Corporation Bridge Plan (the “Plan”)
authorizing the grant of awards to eligible individuals in connection with the
performance of services for the Company and its Subsidiaries (as defined in the
Plan), subject to the closing of the merger of the Company with a subsidiary of
The Bank of Tokyo-Mitsubishi UFJ, Ltd. (“BTMU”) pursuant to an Agreement and
Plan of Merger between the Company and BTMU dated August 18, 2008 (the “Transaction”).  The Plan, including the definition of terms,
is incorporated in this Agreement by reference and made a part of it.  In the event of any conflict among the
provisions of the Plan document and this Agreement, the Plan document shall
prevail; and

 

WHEREAS,
the Company regards Participant as a valuable contributor to the Company, and
has determined that it would be to the advantage and interest of the Company
and its shareholders to grant to Participant the award provided for in this
Agreement;

 

WHEREAS,
the Company and Participant have agreed that in consideration for entering in
this Agreement, Participant will waive entitlement to any benefits under the
Executive Agreement between Union Bank of California, N.A. and Participant,
originally effective January 1, 1998 and subsequently amended (the “Executive
Agreement”);

 

NOW,
THEREFORE, in consideration of the foregoing premises, and the mutual covenants
herein contained, the parties to this Agreement hereby agree as follows:

 

1.                           Bridge Award.  Participant shall be eligible for payment of
a Bridge Award equal to $               
subject to continued employment during the Incentive Period beginning on the
Award Date and ending on               ,
and an award equal to $         subject
to continued employment during the Incentive Period beginning on               
and ending on               .

 

2.                           Payment of Bridge
Awards.  If earned, the Bridge Award
shall be paid to Participant within 2-1/2 months following the end of the applicable
Incentive Period.  The Company shall, to
the extent required by law, have the right to deduct from any payments
hereunder the amount of any federal, state or local taxes required by law to be
withheld.

 

3.                           Designation of
Beneficiaries.  On a form
provided to the Company, Participant may designate a beneficiary or
beneficiaries to receive, in the event of Participant’s death, all or part of
any amounts to be distributed to Participant under the Plan.

 

4.                           Employee
Rights.  Participant may not assign or
transfer his or her rights under the Plan except as expressly provided under the
Plan.  Participation in the Plan does not
create a 

 

1

 

contract of employment, imply or confer any other
employment rights, or confer any ownership, security or other rights to Company
assets.  The Bridge Award is a
one-time, special award which is not part of basic compensation or earnings for
any purpose, including without limitation the calculation of pension, 401(k) or
other retirement benefits.

 

5.                           Termination of
Employment or Leave of Absence.  Termination of employment prior to the end of
an Incentive Period (or before the commencement of an Incentive Period) shall
result in forfeiture of all opportunity to receive a Bridge Award for that
Incentive Period, except as provided below:

 

(a)                                  If Participant’s employment
is terminated at any time during an Incentive Period under circumstances which
render Participant eligible for severance benefits from the Company (and
provided Participant has executed a release agreement), Participant shall be
eligible to receive payment of the Bridge Award for that Incentive Period and
for the subsequent Incentive Period, if applicable.

 

(b)                                 If Participant’s employment
is terminated at any time during an Incentive Period by reason of death,
Participant (or Participant’s beneficiary or estate in the event of death) will
be eligible to receive a pro rata Bridge Award for that Incentive Period based
on the time employed during that Incentive Period, rounded to the nearest
complete month, but will not be eligible to receive a Bridge Award for the
subsequent Incentive Period, if applicable.

 

(c)                                  Payment of a Bridge Award
under this Section 5(a) shall be made within 2-1/2 months following
the employment termination date.

 

The
Company shall also have discretion to reduce the amount of a Bridge Award on a
pro rata basis to reflect periods of time during an Incentive Period when
Participant is on a leave of absence of more than sixty (60) days.

 

6.                           Mandatory
Arbitration.  Any dispute
arising out of or relating to this Agreement, including its meaning or
interpretation, shall be resolved solely by arbitration before an arbitrator
selected in accordance with the rules of the American Arbitration
Association.  The location for the
arbitration shall be in San Francisco, Los Angeles or San Diego as selected by
the Company in good faith. Judgment on the award rendered may be entered in any
court having jurisdiction.  The party the
arbitrator determines is the prevailing party shall be entitled to have the
other party pay the expenses of the prevailing party, and in this regard the
arbitrator shall have the power to award recovery to such prevailing party of
all costs and fees (including attorney fees and a reasonable allocation for the
costs of the Company’s in-house counsel), administrative fees, arbitrator’s
fees and court costs, all as determined by the arbitrator.  Absent such award of the arbitrator, each
party shall pay an equal share of the arbitrator’s fees.  All statutes of limitation which would
otherwise be applicable shall apply to any arbitration proceeding under this
paragraph.  The provisions of this
paragraph are intended by Participant and the Company to be exclusive for all
purposes and applicable to any and all disputes arising out of or relating to
this Agreement.  The arbitrator who hears
and decides any dispute shall have jurisdiction and authority only to award
compensatory damages to make whole a person or entity sustaining foreseeable 

 

2

 

economic damages, and, shall not have jurisdiction
and authority to make any other award of any type, including without
limitation, punitive damages, unforeseeable economic damages, damages for pain,
suffering or emotional distress, or any other kind or form of damages.  The remedy, if any, awarded by the arbitrator
shall be the sole and exclusive remedy for any dispute which is subject to
arbitration under this paragraph.

 

7.                           California Law.  The Plan and this Agreement shall be
construed and enforced according to the laws of the State of California to the
extent not preempted by the federal laws of the United States of America.

 

8.                           Section 409A.  If payment of a Bridge Award is due upon a
termination of employment, and the Company determines that the award is
nonqualified deferred compensation subject to Section 409A of the Internal
Revenue Code, then for purposes of determining the timing of the payment, “termination
of employment” shall mean a “separation from service” as defined under Section 409A.  In addition, if Participant is a “specified
employee” (as defined under Section 409A) at the of such separation from
service, payment shall be delayed until six months and one day following such separation
from service (or, if earlier, Participant’s death) if the Company determines
that such delayed payment is required in order to avoid a prohibited
distribution under Section 409A(a)(2) of the Internal Revenue Code.

 

9.                           Entire
Agreement.  The Plan and
this Agreement constitute the entire agreement between the Company and
Participant pertaining to the subject matter hereof, and supersedes all prior
or contemporaneous written or verbal agreements and understandings between the
parties in connection therewith. 
Participant acknowledges that this Agreement is subject to the closing
of the Transaction.  If the Transaction
is not consummated, this Agreement shall be null and void and no amounts shall
be payable to Participant hereunder.

 

10.                     Executive
Agreement.  Participant
hereby waives entitlement to any benefits under the Executive Agreement, subject
to the closing of the Transaction.  If
the Transaction is not consummated, the foregoing waiver shall be null and
void.

 

IN WITNESS WHEREOF, the parties hereto
have duly executed this Agreement as of the date first above written.  Participant also hereby acknowledges receipt
of a copy of the UnionBanCal Corporation Bridge Plan.

 

UnionBanCal
Corporation

 

 

By:

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Participant
  Signature

  

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
  «Agreement_Name»

  	
  «EmpNo»

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Participant
  Printed Name

  	
  Employee
  #

  

 

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}]]