Document:

EX10.22_2014 RSU Award Agreement 2014 Version 2

EXHIBIT 10.22

RESTRICTED STOCK UNIT AWARD AGREEMENT
UNDER THE WENDY’S/ARBY’S GROUP, INC.
2010 OMNIBUS AWARD PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT (this “Agreement”), made as of ____________, 201_, by and between The Wendy’s Company (the “Company”) and ____________________ (the “Participant”):
 
WHEREAS, the Company maintains the Wendy’s/Arby’s Group, Inc. 2010 Omnibus Award Plan (the “Plan”) under which the Compensation Committee of the Company’s Board of Directors or a subcommittee thereof (the “Committee”) may, among other things, award shares of the Company’s Common Stock, to such eligible persons under the Plan as the Committee may determine, subject to terms, conditions, or restrictions as it may deem appropriate;

WHEREAS, pursuant to the Plan, the Committee has awarded to the Participant a restricted stock unit award conditioned upon the execution by the Company and the Participant of a Restricted Stock Unit Award Agreement setting forth all the terms and conditions applicable to such award in accordance with Delaware law;

NOW, THEREFORE, in consideration of the mutual promises(s) and covenants(s) contained herein, it is hereby agreed as follows:
 
1. Defined Terms.  Except as otherwise specifically provided herein, capitalized terms used herein shall have the meanings attributed thereto in the Plan.
 
2. Award of Restricted Stock Units.  Subject to the terms of the Plan and this Agreement, the Committee hereby awards to the Participant a restricted stock unit award (the “Restricted Stock Unit Award”) on ____________, 201_ (the “Award Date”), covering ____________________ (________) shares of Common Stock (the “RSUs”).  Each RSU represents the right to receive payment of one share of Common Stock as of the date the RSU is settled, to the extent the RSU is vested, subject to the terms of the Plan and this Agreement.
 
3. Vesting and Settlement.  Subject to the Participant’s continued employment with the Company and its Subsidiaries (other than as set forth in Section 6 below):

		
	(i)
	One-half of the RSUs shall vest and become nonforfeitable on the third (3rd) anniversary of the Award Date; and

		
	(ii)
	One-half of the RSUs shall vest and become nonforfeitable on the fourth (4th) anniversary of the Award Date (each such anniversary is referred to as a “Vesting Date”).

Promptly after each applicable Vesting Date (but in no event later than 74 days after the end of the calendar year in which the Vesting Date occurs), the Company shall distribute to the Participant one share of Common Stock for each vested RSU.

In the event that the RSUs vest earlier than the applicable Vesting Date pursuant to Section 6 below, then promptly after such earlier vesting (but in no event later than 74 days after the end of the calendar year 

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in which such earlier vesting occurs), the Company shall distribute to the Participant one share of Common Stock for each vested RSU.

 4. Dividend Equivalent Rights.  Each RSU shall also have a dividend equivalent right (a “Dividend Equivalent Right”).  Each Dividend Equivalent Right represents the right to receive all of the ordinary cash dividends that are or would be payable with respect to the RSUs.  With respect to each Dividend Equivalent Right, any such cash dividends shall be converted into additional RSUs based on the Fair Market Value of a share of Common Stock on the date such dividend is paid.  Such additional RSUs shall be subject to the same terms and conditions applicable to the RSU to which the Dividend Equivalent Right relates, including, without limitation, the restrictions on transfer, forfeiture, vesting and settlement provisions contained in this Agreement.  In the event that a RSU is forfeited as provided in Section 6 below, then the related Dividend Equivalent Right shall also be forfeited.
 
5. Transferability.  The RSUs shall not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by a Participant other than by will or by the laws of descent and distribution and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or an Affiliate; provided that the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance.  The shares of Common Stock acquired by the Participant upon settlement of the RSUs may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by a Participant, unless  in compliance with all applicable securities laws as set forth in Section 15 below.  The Participant shall not be deemed for any purpose to be the owner of any shares of Common Stock subject to the RSUs prior to settlement of any vested RSUs.
 
6. Effect of Termination of Employment.   In the event of (A) the termination of the Participant’s employment or service by the Company other than for Cause (and other than due to death or Disability), or by the Participant for Good Reason, in each case within 12 months following a Change in Control, or (B) the termination of the Participant’s employment or service due to death or Disability, outstanding RSUs hereby granted to the Participant shall become fully vested as of the date of such termination of employment or service.  Upon voluntary termination of the Participant's employment with the Company or any of its Subsidiaries by the Participant other than for Good Reason, the Restricted Stock Unit Award, to the extent not already vested, shall be forfeited, unless otherwise determined by the Committee in its sole discretion.  

In addition, in the event the Participant’s employment or services to the Company and its Subsidiaries are terminated by the Company prior to the date the RSUs would otherwise vest in accordance with Section 3 above other than for Cause (and other than due to death or Disability, or by the Company other than for Cause or by the Participant for Good Reason within 12 months following a Change in Control, as described in the preceding paragraph), the RSUs shall vest prorata and become nonforfeitable as of the date of such termination of employment or service, with such proration determined by multiplying the number of RSUs by a fraction, the numerator of which is the number of full calendar months worked by the Participant since the Award Date (with the month in which the Award Date occurred being the first month) to the date of termination of employment or service, and the denominator of which is forty-eight (48).
 
7. Beneficiary.  The Participant may designate in writing a beneficiary(ies) to receive the stock certificates representing those RSUs that become vested and non-forfeitable and settled upon the Participant’s death.  The Participant has the right to change such beneficiary designation at will.
 
8. Withholding Taxes.  The Participant shall be required to pay to the Company, and the Company shall have the right and is hereby authorized to withhold, from any cash, shares of Common Stock, other 

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securities or other property deliverable in respect of the RSUs or from any compensation or other amounts owing to the Participant, the amount (in cash, Common Stock, other securities or other property) of any required withholding taxes in respect of the RSUs, and to take such other action as may be necessary in the opinion of the Committee or the Company to satisfy all obligations for the payment of such withholding and taxes.  In addition, the Committee may, in its sole discretion, permit the Participant to satisfy, in whole or in part, the foregoing withholding liability (but no more than the minimum required statutory withholding liability) by (A) the delivery of shares of Common Stock (which are not subject to any pledge or other security interest) owned by the Participant having a Fair Market Value equal to such withholding liability or (B) having the Company withhold from the number of shares of Common Stock otherwise issuable or deliverable upon settlement of the RSUs a number of shares with a Fair Market Value equal to such withholding liability.  The obligations of the Company under this Agreement will be conditional on such payment or arrangements, and the Company will, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise due to the Participant. 

9. Impact on Other Benefits.  The value of the Restricted Stock Unit Award (either on the Award Date or at the time any RSUs become vested and/or settled) shall not be taken into account in determining any benefits under any pension, retirement, profit sharing, group insurance or other benefit plan of the Company except as otherwise specifically provided in such other plan.
 
10. Administration.  The Committee shall have full authority and discretion (subject only to the express provisions of the Plan) to decide all matters relating to the administration and interpretation of this Agreement.  All such Committee determinations shall be final, conclusive, and binding upon the Company, the Participant, and any and all interested parties.

11. Funding.  Dividends and distributions with respect to the RSUs shall be paid directly by the Company.  The Company shall not be required to fund or otherwise segregate assets to be used for payment of these amounts under the Plan, and all obligations of the Company with respect to such amounts under the Plan shall remain subject to the claims of its general creditors.
 
12. Right to Continued Employment.  This grant does not constitute an employment contract.  Nothing in the Plan or this Agreement shall be deemed to be a modification or waiver of the terms and conditions set forth in a written employment agreement for the Participant that has been approved, ratified or confirmed by the Board of Directors of the Company or the Committee.

13. Clawback.  Notwithstanding anything to the contrary contained herein, in the event of a material restatement of the Company’s issued financial statements, the Committee shall review the facts and circumstances underlying the restatement (including, without limitation any potential wrongdoing by the Participant and whether the restatement was the result of negligence or intentional or gross misconduct) and may in its sole discretion direct the Company to recover all or a portion of the RSUs (which may be accomplished by the Company’s cancellation of the RSUs) or the shares of Common Stock issued upon settlement of the RSUs or any gain realized on the subsequent sale of Common Stock acquired upon vesting and settlement of the RSUs with respect to any fiscal year in which the Company’s financial results are negatively impacted by such restatement.  If the Committee directs the Company to recover any such amount from the Participant, then the Participant agrees to and shall be required to repay any such amount to the Company within 30 days after the Company demands repayment.  In addition, if the Company is required by law to include an additional “clawback” or “forfeiture” provision to outstanding awards, then such clawback or forfeiture provision shall also apply to the RSUs as if it had been included on the date of grant and the Company shall promptly notify the Participant of such additional provision.  In addition, if a court determines that the Participant has engaged or is engaged in Detrimental Activities during the Participant’s 

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employment with the Company or its Subsidiaries or after the Participant’s employment or service with the Company or its Subsidiaries has ceased, then the Participant, within 30 days after written demand by the Company, shall return the Common Stock received upon settlement of the RSUs, any gain realized on the settlement of the RSUs or the subsequent sale of Common Stock acquired upon vesting and settlement of the RSUs.
 
14. Bound by Plan.  The Restricted Stock Unit Award has been granted subject to the terms and conditions of the Plan, a copy of which has been provided to the Participant and which the Participant acknowledges having received and reviewed.  Any conflict between this Agreement and the Plan shall be decided in favor of the provisions of the Plan.  Any conflict between this Agreement and the terms of a written employment agreement for the Participant that has been approved, ratified or confirmed by the Board of Directors of the Company or the Committee shall be decided in favor of the provisions of such employment agreement.  This Agreement may not be amended, altered, suspended, discontinued, cancelled or terminated in any manner that would materially and adversely affect the rights of the Participant except by a written agreement executed by the Participant and the Company.

15. Securities Laws.  The Participant agrees that the obligation of the Company to issue Common Stock upon vesting of the Restricted Stock Unit Award shall also be subject, as conditions precedent, to compliance with applicable provisions of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, state securities or corporation laws, rules and regulations under any of the foregoing and applicable requirements of any securities exchange upon which the Company’s securities shall be listed.

16. Electronic Delivery.  By accepting the Restricted Stock Unit Award, the Participant hereby consents to the electronic delivery of prospectuses, annual reports and other information required to be delivered by Securities and Exchange Commission rules.  This consent may be revoked in writing by the Participant at any time upon three business days’ notice to the Company, in which case subsequent prospectuses, annual reports and other information will be delivered in hard copy to the Participant.
 
17. Force and Effect.  The various provisions of this Agreement are severable in their entirety.  Any determination of invalidity or unenforceability of any one provision shall have no effect on the continuing force and effect of the remaining provisions.
 
18. Governing Law.  This Agreement shall be governed by and construed in accordance with the internal laws of the State of Delaware applicable to contracts made and performed wholly within the State of Delaware, without giving effect to the conflict of laws provisions thereof.
 
19. Successors.  This Agreement shall be binding and inure to the benefit of the successors, assigns and heirs of the respective parties.
 
20. Notices.  Notices and communications under this Agreement must be in writing and either personally delivered or sent by registered or certified United States mail, return receipt requested, postage prepaid. Notices to the Company must be addressed to The Wendy’s Company, One Dave Thomas Blvd., Dublin, Ohio 43017, Attn: Corporate Secretary, or any other address designated by the Company in a written notice to the Participant.  Notices to the Participant will be directed to the address of the Participant then currently on file with the Company, or at any other address given by the Participant in a written notice to the Company.

21. Validity of Agreement.  This Agreement shall be valid, binding and effective upon the Company on the Award Date.  However, the RSUs evidenced by this Agreement shall be forfeited by the Participant 

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and this Agreement shall have no force and effect if it is duly rejected.  The Participant may reject this Agreement and forfeit the RSUs by notifying the Company or its designee in the manner prescribed by the Company and communicated to the Participant; provided that such rejection must be received by the Company or its designee no later than the earlier of (i) ____________, 201_ and (ii) the date the RSUs first vest pursuant to the terms hereof.  If this Agreement is rejected on or prior to such date, the RSUs evidenced by this Agreement shall be forfeited, and neither the Participant nor the Participant’s heirs, executors, administrators and successors shall have any rights with respect thereto.
 
22. Section 409A.  If any provision of this Agreement could cause the application of an accelerated or additional tax under Section 409A of the Code upon the vesting or settlement of the Restricted Stock Unit Award (or any portion thereof), such provision shall be restructured, to the minimum extent possible, in a manner determined by the Company (and reasonably acceptable to the Participant) that does not cause such an accelerated or additional tax.  It is intended that this Agreement shall not be subject to Section 409A of the Code by reason of the short-term deferral rule under Treas. Reg. section 1.409A-1(b)(4) and this Agreement shall be interpreted accordingly.

IN WITNESS WHEREOF, the Company has caused this Agreement to be signed by an officer duly authorized thereto as of the ______ day of __________, 201_. 

THE WENDY’S COMPANY

By:_____________________
Name:
Title:

5Exhibit 10.9 01.03.2015

EXHIBIT 10.9

FIFTH AMENDMENT TO THE
ST. JUDE MEDICAL, INC. MANAGEMENT SAVINGS PLAN

THIS INSTRUMENT, amending the St. Jude Medical, Inc. Management Savings Plan as restated effective January 1, 2008 (the “Plan”) is adopted by St. Jude Medical, Inc., a Minnesota corporation, (the “Company”) and is effective as of January 1, 2015, except as otherwise noted below.

RECITALS

WHEREAS, the Company has heretofore established and maintains the Plan as a nonqualified deferred compensation plan which has been amended from time to time; and

WHEREAS, under Section 11.3 of the Plan, the Plan Administration Committee is authorized to adopt certain changes to the design of the Plan, and the Committee approved the changes set forth in Sections 2 and 3 below by written action dated effective October 3, 2014; and

WHEREAS, the Plan Administration Committee desires to adopt this Instrument to document the changes and to make further design changes to the Plan;

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

		
	1.
	The definition of “Eligible Compensation” in Article 1 of the Plan is amended to delete the exclusions in items (1) and (2) and to renumber the remaining exclusion items accordingly. 

		
	2.
	Article 1 of the Plan is amended, effective as of December 1, 2014, to add alphabetically the following new definitions:

		
	(1)
	“Employment Commencement Date” means the date upon which a Participant first performs one hour of service as an employee for the Company or an Affiliate. 

		
	(2)
	“Period of Service” means the measure of a Participant’s employment with the Company and any Affiliate which is equal to the period commencing on the Participant’s Employment Commencement Date or Reemployment Commencement Date, as appropriate and ending on the Participant’s next following Severance Date and stated in years and months and days where 30 days equals one month and 365 days equals one year; provided, however: 

		
	(1)
	unless some or all of a Participant’s service may be disregarded pursuant to other rules of this Plan, all discontinuous Periods of Service shall be aggregated in determining the total of a Participant’s Period of Service; 

		
	(2)
	if a Participant quits, is discharged or retires from service with the Company and all Affiliates and performs an hour of service as an Employee within the 12 months following the Severance Date, that Period of Severance shall be deemed to be a Period of Service; and 

		
	(3)
	if a Participant severs from service with the Company and all Affiliates by reason of a quit, a discharge or retirement during the first 12 months of an absence from service for any reason other than a quit, a discharge, retirement or death and then performs an hour of service within the 12 months following the date on which the Participant 

was first absent from service, the Period of Severance shall be deemed to be a Period of Service.
		
	(3)
	“Period of Severance” means the period of time commencing on a Participant’s Severance Date and ending on the date on which that Participant next again performs an hour of service as an employee for the Company or an Affiliate. A Period of Severance shall be stated in years and months and days, where 30 days equals one month and 365 days equals one year.

		
	(4)
	“Reemployment Commencement Date” means the date upon which a Participant first performs an hour of service as an employee for the Company or an Affiliate following a Period of Severance that is not deemed to be a Period of Service.

		
	(5)
	“Severance Date” means the earlier of: 

		
	(1)
	the date upon which a Participant ceases to perform any services as an employee    for the Company and all Affiliates as a result of a quit, discharge, retirement or death; or 

		
	(2)
	the date which is the first anniversary of the first day of a period in which a Participant remains continuously absent from service (with or without pay) with the Company and all Affiliates for any reason other than a quit, a discharge, retirement or death, such as vacation, holiday, sickness, Disability, leave of absence or layoff.

		
	3.
	Effective as of November 1, 2014, the definition of Year of Service in Article 1 and all references in the Plan to Year of Service are deleted and replaced with “Year of Vesting Service,” which shall be defined as follows:

“Year of Vesting Service” means a Period of Service of 12 months and will include any Period of Severance of less than 12 consecutive months. Notwithstanding any provision of this Plan that may be construed to the contrary, for purposes of this definition, the Compensation Committee may, in its sole and absolute discretion, deem a Participant to be credited with a Year of Vesting Service.

		
	4.
	Section 5.1 of the Plan is amended to replace the second sentence to read as follows:

“The allocation of such amounts shall be made and allocated as provided in Section 5.2(d) among Measurement Funds in accordance with the elections made by Participants as provided in Section 5.2, and if no such Measurement Funds have been selected for purposes of adjustment of amounts credited to the Account or Accounts of the Participant, then such amounts shall be allocated to the default fund approved by the Plan Administration Committee.”

		
	5.
	Section 5.2(d)(2) and (3) of the Plan are amended to read as follows:

		
	“(2)
	the portion of the amounts credited to an Account or Accounts of a Participant during any day were invested in the Measurement Fund(s) selected by the Participant, in the percentages applicable to such day, as soon as administratively feasible following the day on which such amounts were actually deferred or credited to the Account or Accounts of the Participant at the closing price on such date; and 

		
	(3)
	any distribution made to a Participant that decreases the Account or Accounts of the Participant ceases being an investment in the Measurement Fund(s), in the percentages applicable to such day, no later than seven business days prior to the distribution, at the closing price on such date.”

		
	6.
	Section 7.2(a) of the Plan is amended to replace the fifth sentence with the following:

“The amount of each installment payment shall be determined by dividing (x) by (y), where (x) equals the Account balance as of the valuation date and (y) equals the remaining number of installment payments.”

		
	7.
	Section 7.2(e) of the Plan is amended to add a new sentence at the end thereof to read:

“The amount of the emergency payment shall be subtracted from the Participant’s Accounts in the following order: (1) first from any Accounts subject to Section 7.8, beginning with the Specified Date Account with the latest payment commencement date; (2) then from any Accounts subject to Section 7.2(d), beginning the Account with the latest payment commencement date; (3) then from any Accounts subject to Section 7.7, beginning with the Account with the longest payment period; and (4) finally from the Accounts subject to Section 7.2(a), beginning with the Account with the longest payment period.”
		
	8.
	Section 7.2(f) of the Plan is amended in its entirety to read as follows:

		
	(f)
	“Notwithstanding anything to the contrary in the Plan or in a Participant payment election, a distribution under Section 7.1(a) and Section 7.7 to a Participant who, on the date of Separation from Service is a Specified Employee, shall be made or begin in the first calendar quarter that begins six months after the Participant’s Separation from Service (or, if earlier, the Specified Employee’s death). This limitation applies regardless of the Participant’s status as a Specified Employee on any other date including the next Specified Employee effective date had the Participant continued to render services through such date. The Participant’s Accounts shall continue to be adjusted as provided in Section 5.2.”

		
	9.
	Except as set forth in this Instrument, the Plan, as restated and amended, shall remain in full force and effect.

IN WITNESS WHEREOF, St. Jude Medical, Inc. has caused this Fifth Amendment to the Plan to be executed by its authorized officer, effective as of the dates specified herein.

	
					
	 
	 
	 
	ST. JUDE MEDICAL, INC.

	 
	 
	 
	 
	 

	Date
	December 5, 2014
	 
	By
	/s/ Angela Craig    

	 
	 
	 
	Its
	VP, Global Human Resources

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