Document:

exv10wj

 

Exhibit 10(j)

SYSCO CORPORATION

2005 NON-EMPLOYEE DIRECTORS STOCK PLAN

RESTRICTED STOCK AWARD AGREEMENT

          This Restricted Stock Award Agreement (“Agreement”) was made and entered into as of
                     (“Date of Grant”), by and between Sysco Corporation, a Delaware corporation
(hereinafter “SYSCO”), and «FirstName» «LastName», a director of SYSCO (hereinafter “Director”).

W I T N E S S E T H:

          WHEREAS, the Board of Directors of SYSCO has adopted, and SYSCO’s stockholders have approved,
the Sysco Corporation 2005 Non-Employee Directors Stock Plan (the “Plan”), the purpose of which is
to promote the interests of SYSCO and its stockholders by enhancing SYSCO’s ability to attract and
retain the services of experienced and knowledgeable directors and by encouraging such directors to
acquire an increased proprietary interest in SYSCO through the ownership of common stock, $1.00 par
value, of SYSCO (“Common Stock”); and

          WHEREAS, the Plan provides that non-employee directors may receive awards of restricted shares
of SYSCO Common Stock; and

          WHEREAS, Director desires to continue to serve on the Board of Directors of SYSCO and to
accept an award of restricted stock in accordance with the terms and provisions of the Plan and
this Agreement;

          NOW, THEREFORE, in consideration of the foregoing, the parties agree as follows:

1.      GRANT OF RESTRICTED STOCK AWARD.

          SYSCO,
as authorized by the Board of Directors, hereby grants to Director                      shares of
restricted Common Stock (the “Restricted Stock Award”) pursuant to the provisions of the Plan. The
Restricted Stock Award shall be subject to vesting as set forth in the Plan and summarized below:

	 	(a)	 	                     of the Restricted Stock Award shall vest on the
                    
anniversary of the Date of Grant.
	 
	 	(b)	 	An additional                      of the Restricted Stock Award shall vest
on the                      anniversary of the Date of Grant.
	 
	 	(c)	 	The final                      of the Restricted Stock Award shall vest on
the                      anniversary of the Date of Grant.
	 
	 	(d)	 	Any unvested portion of a Restricted Stock Award shall vest
upon the occurrence of a Change in Control. For purposes of this Agreement,
“Change in Control” means that a person or persons who are acting together for
the purpose of acquiring an equity interest in SYSCO acquire beneficial
ownership (as defined in Rule 13d-3 promulgated under the Securities Exchange
Act of 1934, as amended) of 20% or more of the outstanding Common Stock.

 

 

2.      RESTRICTION ON TRANSFER.

          The restricted Common Stock granted as a Restricted Stock Award and this Agreement shall not
be sold, pledged, assigned, transferred, or encumbered prior to the time the Restricted Stock Award
vests as described herein.

3.      DEPOSIT WITH SYSCO.

          Each certificate of Restricted Stock Award awarded hereunder shall be registered in the name
of the Director and left, prior to its vesting, on deposit with SYSCO with a stock power endorsed
in blank. Each such certificate will contain the following legend:

The sale or other transfer of the shares of stock represented by
this certificate, whether voluntary, involuntary, or by operation of
law, is subject to certain restrictions on transfer as set forth in
the SYSCO Corporation 2005 Non-Employee Directors Stock Plan, and in
the associated Award Agreement. A copy of the Plan and such Award
Agreement may be obtained from SYSCO Corporation.

4.      CERTAIN RIGHTS OF DIRECTOR.

          Except as otherwise set forth herein, Director, as owner of shares of restricted Common Stock
granted as a Restricted Stock Award, shall have all the rights of a stockholder, including, but not
limited to, the right to vote such shares and the right to receive all dividends paid with respect
to such shares; provided, that all such rights shall be forfeited in respect to any portion of the
Restricted Stock Award as of the date all or any portion of such award is forfeited.

5.      CESSATION OF SERVICE.

          Except as set forth below and unless otherwise determined by the Board, if Director ceases to
be a Non-Employee Director (as defined in the Plan) prior to the vesting of any portion of the
Restricted Stock Award, Director shall forfeit the portion of the Restricted Stock Award which is
not vested on the date he ceases to be a Non-Employee Director; provided, however, that unless
otherwise determined by the Board, if (a) Director serves out his or her term but does not stand
for re-election at the end thereof, or (b) Director shall retire from service on the Board (for
reasons other than death) prior to the expiration of his or her term and on or after the date he or
she attains age 71, Director’s Restricted Stock Award shall remain in effect and vest, as if
Director had remained a Non-Employee Director of SYSCO. Upon the death of Director, any unvested
portion of the Restricted Stock Award shall vest.

6.      ADJUSTMENT TO AWARD IN CERTAIN EVENTS.

          In the event of a change in the capitalization of SYSCO due to a stock split, stock dividend,
recapitalization, merger, consolidation, combination, or similar event, the aggregate shares
subject to this Agreement shall be adjusted to reflect such change.

7.      NO COMPROMISE WITH REGULATORY AUTHORITY.

          Notwithstanding any other provision of this Agreement, Director agrees that SYSCO shall not be
obligated to deliver any shares of Common Stock, if counsel to SYSCO determines such delivery would
violate any law or regulation of any governmental authority or agreement between SYSCO and any
national securities exchange upon which the Common Stock is listed.

2

 

8.      PLAN CONTROLS.

          In the event of a conflict between the terms of this Agreement and the Plan, the Plan shall be
the controlling document.

9.      END OF RESTRICTIONS; DELIVERY OF STOCK.

          If all terms and conditions of this Agreement are complied with in full, all restrictions on
the Restricted Stock Award referred to herein shall lapse and the Director shall receive the
certificate representing such Restricted Stock.

          IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first above written.

	 	 	 	 	 
	 	SYSCO CORPORATION

 	 
	 	/s/ RICHARD J. SCHNIEDERS
 	 
	 	 	 
	 	By:           Richard J. Schnieders

                Chairman, Chief Executive Officer

                and President 	 
	 
	 	DIRECTOR

                    
                    
                    
                    

«FirstName» «LastName»

 	 
	 	 	 
	 	 	 
	 	 	 
	 

3exv10wk

 

Exhibit 10(k)

SECOND AMENDMENT TO

THE SECOND AMENDED AND RESTATED

SYSCO CORPORATION

BOARD OF DIRECTORS DEFERRED COMPENSATION PLAN

     THIS SECOND AMENDMENT TO THE SECOND AMENDED AND RESTATED SYSCO CORPORATION BOARD OF DIRECTORS
DEFERRED COMPENSATION PLAN (this “Amendment”).

     WHEREAS, Sysco Corporation has adopted that certain Second Amended and Restated Sysco
Corporation Board of Directors Deferred Compensation Plan (the “Plan”) pursuant to a plan
document effective as of April 1, 2002; and

     WHEREAS, the members of the Board of Directors who are employees of Sysco have determined to
amend the Plan to preserve under the provisions of this Plan Participants’ earned and vested Plan
account balances as of December 31, 2004 (deferrals of directors’ fees and associated interest and
investment earnings and losses), as determined under Section 409A of the Internal Revenue Code of
1986, as amended, and the regulatory and other interpretive authority promulgated thereunder
(“Section 409A”), and to thereby avoid the application of Section 409A to such account balances.

     NOW, THEREFORE, the Plan is hereby amended as follows:

(Capitalized terms used but not otherwise defined herein shall have the meaning given them in the
Plan.)

     1.      Article III of the Plan is hereby amended by adding new Section 3.5 to the end thereof as
follows:

     “3.5 Cessation of Deferrals/Grandfathering of Pre-2005 Deferrals. No
Participant may make deferrals under this Plan of Director’s fees paid on or after
January 1, 2005; any such deferrals shall be made under and governed by the terms
of the Sysco Corporation 2005 Board of Directors Deferred Compensation Plan. Each
Participant’s Account balance under the Plan (including deferrals and associated
interest and/or Investment earnings and losses), to the extent that the
Participant has an earned and vested right to such balance as of December 31,
2004, as determined under Section 409A of the Code and the regulatory and other
interpretive authority promulgated thereunder (“Section 409A”), shall continue to
be maintained under and governed by the terms of this Plan, and such Account
balances shall not be subject to the provisions of Section 409A.”

     2.      Article VIII of the Plan is hereby amended by adding new Section 8.4 to the end
thereof as follows:

     “8.4 Amendment May Not Constitute Material Modification.
Notwithstanding the foregoing provisions of this Article VIII, in order to prevent
the application of Section 409A to the Account balances preserved hereunder (as
described in Section 3.5), no amendment may be made to the Plan that is effective
on or after October 3, 2004 if such amendment would constitute a material
modification of the Plan, as determined under Section 409A.”

     Except as specifically amended hereby, the Plan shall remain in full force and effect as prior
to this Second Amendment.

 

 

     IN WITNESS WHEREOF, the Company has caused this Second Amendment to be executed as of this
29th day of December, 2005.

	 	 	 	 	 	 	 
	 	 	SYSCO CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	     /s/ DIANE DAY SANDERS
 

	 	 
	 

	 	Name:
	 	Diane Day Sanders	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:
	 	Sr. Vice President – Finance and Treasurer	 	 
	 

	 	 	 	 	 	 

ATTEST:

	 	 	 	 	 
	By:

	 	/s/ MICHAEL C. NICHOLS
	 	 
	 

	 	 	 	 
	Title:

	 	Corporate Secretary

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}]]