Document:

Summary of Royal Caribbean Cruises Ltd. Board of Directors Compensation

 Exhibit 10.29 
 ROYAL CARIBBEAN CRUISES LTD. 
 BOARD OF DIRECTOR COMPENSATION SCHEDULE

 EFFECTIVE FOR 2011 FISCAL YEAR 
 Cash Compensation 
 Non-employee members of the Board of Directors are entitled to
receive cash fees as follows: 
  

					
	 Cash Compensation
	  	Amount	 
	 Annual Board Retainer
	  	$	60,000	  
	 Annual Committee Chairman Retainer
	  	 	30,000	  
	 Annual Audit Committee Member Retainer
	  	 	15,000	  
	 Annual Compensation Committee Chairman Retainer
	  	 	15,000	  
	 Annual Committee Chairman Retainer (All Other Committees)
	  	 	6,000	  
	 Annual Committee Member Retainer (All Other Committees)
	  	 	5,000	  
	 Board Per Meeting Fees
	  	 	1,200	  
	 Committee Per Meeting Fees (All Committees)
	  	 	1,200	  

 Equity Compensation

 At the discretion of the Board, each non-employee director is eligible to receive an annual grant of equity awards with an aggregate
value on the date of grant equal to $120,000. Commencing in 2011, the entire amount of the award is payable in restricted stock units which fully vest on the date of grant. Shares of our common stock underlying the restricted stock units are
deliverable one year after the grant date independent of whether the director holding the restricted stock units continues to serve as a Board member as of the share delivery date. 
 Cruise Benefits 
 The Company provides Board members with certain cruise benefits in
accordance with the Company’s Board Member Cruise Policy.Form of Royal Caribbean Cruises Ltd. 2008 Equity Incentive Plan Restricted Stock

 Exhibit 10.31 
 ROYAL CARIBBEAN CRUISES LTD. 
 2008 EQUITY INCENTIVE PLAN 

RESTRICTED STOCK UNIT AGREEMENT – NON-EMPLOYEE DIRECTORS 
 GRANTEE: 
 DATE OF GRANT: 
 NUMBER OF RESTRICTED STOCK UNITS GRANTED: 
 This Restricted Stock Unit
Agreement (this “Agreement”) is dated as of _________ (the “Grant Date”), and is entered into between Royal Caribbean Cruises Ltd. (the “Company”), and __________________, a non-employee director of the Company (the
“Grantee”). 
 This Agreement is made pursuant to the provisions of the Royal Caribbean Cruises Ltd. 2008 Equity
Incentive Plan (the “Plan”) and consists of this document and the Plan. Capitalized terms used and not defined in this Agreement shall have the meanings given to them in the Plan. By entering into this Agreement, the Grantee agrees and
acknowledges that he or she has received and read a copy of the Plan. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and
prevail. 
 The Grantee and the Company agree as follows: 

 

			
		
	Grant of
 Restricted

Stock Units
	  	The Company hereby grants to the Grantee that number of Restricted Stock Units (“Units”) specified above on the terms and conditions hereinafter set forth. Each Unit
represents the unfunded, unsecured right of the Grantee to receive legal title and ownership of one share of Stock of the Company on the Delivery Date (as defined herein).
		
	Application of
 Plan;

Administration
	  	This Agreement and the Grantee’s rights under this Agreement are subject to all the terms and conditions of the Plan, as it may be amended from time to time, as well as to such
rules and regulations as the Committee may adopt. It is expressly understood that the Committee that administers the Plan is authorized to administer, construe and make all determinations necessary or appropriate to the administration of the Plan
and this Agreement, all of which shall be binding upon the Grantee to the extent permitted by the Plan. Any inconsistency between this Agreement and the Plan shall be resolved in favor of the Plan.
		
	Vesting	  	The Units shall vest immediately upon grant and shall not be subject to forfeiture.
		
	Rights as
 Shareholder
	  	The Grantee will not be entitled to any privileges of ownership of Shares of Stock of the Company underlying the Grantee’s Units, including but not limited to, the right to
vote such Shares or the right to receive dividends with respect to such shares, until he or she becomes the record owner of such Shares in accordance with the terms hereof.

  
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	Settlement of
 Units
	  	 (a) Time of Settlement. This Agreement will be settled by the delivery to the Grantee of one Share for each Unit on the date that
is one year following the Grant Date (the “Delivery Date”). Upon the issuance of Shares in accordance with this clause, the Units granted hereby shall be extinguished.

 
 (b) Issuance of Shares. Shares due and payable to the Grantee under the terms
of this Agreement shall be issued on the Delivery Date.

		
	Transferability	  	The Grantee’s Units are not transferable, whether voluntarily or involuntarily, by operation of law or otherwise, except as provided in the Plan. Any assignment, pledge,
transfer, or other disposition, voluntary or involuntary, of the Grantee’s Units made, or any attachment, execution, garnishment, or lien issued against or placed upon the Units, other than as so permitted, shall be void.
		
	Taxes	  	 (a)    U.S. Federal Income Taxes. U.S. directors of the Company will
be subject to U.S. federal income tax at the time the Shares are delivered based on the Fair Market Value of the Shares that are delivered at such time.
  

(b)    Tax Consequences for Non-U.S. Residents. Grantees who are neither citizens nor
resident aliens of the U.S. should consult with their financial/tax advisor regarding both the U.S. and non-U.S. tax consequences of the receipt of this award and subsequent settlement/receipt of the Shares.

 
 (c)    The Grantee
will be solely responsible for the payment of all such taxes, as well as for any other state, local or non-U.S. taxes that may be related to the Grantee’s receipt of the Units and/or Shares.

		
	Miscellaneous	  	 (a)    This Agreement shall not confer upon the Grantee any right to
continue serving on the Board of Directors of the Company.
  
 (b)    Subject to the terms of the Plan, the Committee may terminate, amend, or modify the Plan; provided, however, that no such termination, amendment, or modification of the
Plan may in any way adversely affect the Grantee’s rights under this Agreement without the Grantee’s consent.
  

(c)    This Agreement will be subject to all applicable laws, rules, and regulations, and to
such approvals by any governmental agencies or stock exchanges as may be required.
  
 (d)    To the extent not preempted by U.S. federal law, this Agreement shall be governed by, and construed in accordance with, the laws of the State of
Florida.

  
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	Signatures	  	 By the signatures below, the Grantee and the authorized representative of the Company acknowledge agreement to this Restricted Stock
Unit Agreement as of the Date of Grant specified above.
  
 Royal Caribbean
Cruises Ltd.
                                         
               Grantee:
  
 By:
  

_______________________                      
                       _____________________________
                                   
                                         
                 (Name)

  
 3Amendment to Employment Agreement, dated as of November 8, 2010

 Exhibit 10.10 
 AMENDMENT TO EMPLOYMENT AGREEMENT 
 THIS AMENDMENT to the Employment
Agreement, dated as of December 1, 2008, between National Retail Properties, Inc., with its principal place of business at 450 South Orange Avenue, Suite 900, Orlando, Florida 32801 (the “Company”), and Craig Macnab (the
“Executive”) (the “Employment Agreement”), is made and entered into as of November 19, 2010 (the “Amendment”). Capitalized terms not otherwise defined herein have the meaning ascribed to them in the Employment
Agreement. 
 WHEREAS, the Company and the Executive are parties to an existing Employment Agreement dated as of
December 1, 2008; 
 WHEREAS, the Company and the Executive desire to amend the Employment Agreement as set forth in this
Amendment to change the required notice period for non-renewal of the Employment Agreement; and 
 WHEREAS, the Company and the
Executive desire to amend the Employment Agreement as set forth in this Amendment to bring the Employment Agreement into compliance with section 409A of the Internal Revenue Code of 1986, as amended, and corresponding Treasury Regulations.

 NOW, THEREFORE, the parties hereto agree as follows: 
  

	 	1.	In Section 1 of the Employment Agreement, the reference to “180 days” in the last sentence of the provision is hereby amended to reference “60
days.” 

  

	 	2.	The following sentence is hereby incorporated at the end of Section 3.2(a) of the Employment Agreement: 

The Annual Bonus shall be paid on a date within the 180 day period commencing on January 1 of the year following the year in which the applicable
performance period ends. 
  

	 	3.	In the third complete sentence in Section 4.1 of the Employment Agreement, the statement included as part (ii) is hereby deleted and replaced with the
following: 

 (ii) a cash payment equal to the prorated portion of the Annual Bonus at the “target” level for the
Contract Year or partial Contract Year in which Executive’s employment hereunder terminates, payable within the 70 day period commencing on the date of the Executive’s separation from service; 

 

	 	4.	Section 4.3(b) of the Employment Agreement is hereby amended as follows: 

 In Subparts (i)(C) and (i)(D), the language in these subparts following “customary payroll practices” is hereby deleted. 
 In Subpart (i)(H), the phrase “payable in a single sum” is included after “terminates.” All language located after subpart (i)(H), beginning with “provided,” but before the
current subpart (ii), is hereby deleted. 
 A new subpart (ii) is added as follows: 

(ii) The timing of the payments provided under Section 4.3(b)(i) shall be as follows, except as provided in Section 4.5:

  
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 (A) Amounts payable pursuant to clauses (A) and (B) of Section 4.3(b)(i)
shall be paid in the normal course or in accordance with applicable law and in no event later than 30 days following the Executive’s separation from service; 

(B) Amounts payable pursuant to clauses (C), (D), (E) and (H) of Section 4.3(b)(i) shall be paid or
commence, as applicable, on the 60th day following the
separation from service, provided the Executive has delivered the release referenced in Section 4.3(b)(i) to the Employer and such release has become irrevocable; 
 (C) Amounts payable, if any, pursuant to clause (E) of Section 4.3(B)(i) shall be paid at the time specified in Section 5 but in no event later than the end of the Executive’s taxable
year following the year in which the taxes related to such payments were remitted to the taxing authority; and 
 (D) Amounts
payable for the health benefits provided pursuant to clause (G) of Section 4.3(b)(i) shall commence at the date following the Executive’s separation from service that is required under the relevant health plans and programs to provide
such benefits. 
 The current subpart (ii) is moved, in its entirety, to a new subpart (iii). 

 

	 	5.	Section 4.4 of the Employment Agreement is hereby amended as follows: 

 In Subpart (C), the language in the subpart following “customary payroll practices” is hereby deleted. 
 In Subpart (F), the phrase “payable in a single sum” is included after “terminates.” 
 All language located after subpart (G), beginning with “provided,” but before the current subpart (ii), is hereby deleted. 
 A new subpart (ii) is added as follows: 
 (ii) The timing of the payments
provided under Section 4.4(i) shall be as follows, except as provided in Section 4.5: 
 (A) Amounts payable pursuant
to clauses (A) and (B) of Section 4.4(i) shall be paid in the normal course or in accordance with applicable law and in no event later than 30 days following the Executive’s separation from service; 

(B) Amounts payable pursuant to clauses (C), (D) and (F) of Section 4.4(i) shall be paid or commence,
as applicable, on the 60th day following the separation
from service, provided the Executive has delivered the release referenced in Section 4.4(i) to the Employer and such release has become irrevocable; 
 (C) Amounts payable, if any, pursuant to clause (D) of Section 4.3(B)(i) shall be paid at the time specified in Section 5 but in no event later than the end of the Executive’s taxable
year following the year in which the taxes related to such payments were remitted to the taxing authority; and 
 (D) Amounts
payable for the health benefits provided pursuant to clause (E) of Section 4.3(b)(i) shall commence at the date following the Executive’s separation from service that is required under the relevant health plans and programs to provide
such benefits. 
 The current subpart (ii) is moved, in its entirety, to subpart (iii). 

  
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	 	6.	A new Section 4.5 is added to the Employment Agreement as follows: 

 Delay in Payment to a Specified Employee. If the Executive is a “specified employee” within the meaning of Treasury Regulation Section 1.409A-1(i) as of the date of the
Executive’s separation from service, the provisions of this section shall apply but only if, and to the extent, required to avoid the imputation of any tax, penalty or interest pursuant to Section 409A. No distribution shall be made to the
Executive under Sections 4.1, 4.3 or 4.4 of the Agreement before the date that is 6 months after his separation from service or, if earlier, the date of the Executive’s death. Any amounts otherwise payable to the Executive upon or in the 6
month period following the Executive’s separation from service that are not so paid by reason of this Section 4.5 shall be paid (without interest) as soon as practicable (and in all events within 10 days) after the date that is 6 months
after the Executive’s separation from service (or, if earlier, as soon as practicable, and in all events within 10 days, after the date of the Executive’s death). 

 

	 	7.	Except as set forth herein, the provisions of the Employment Agreement shall remain in full force and effect. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the Company and the Executive have executed this Amendment as of the day
and year first written above. 
  

			
	NATIONAL RETAIL PROPERTIES, INC.
		
	By:	 	/s/ Robert C. Legler
	Name:	 	Robert C. Legler
	Title:	 	Chairman of the Compensation Committee
	
	 EXECUTIVE

		
	 	 	/s/ Craig Macnab
	Craig Macnab

  
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