Document:

exv10w24

 

Exhibit 10.24

FORM OF EXPEDIA, INC. RESTRICTED STOCK UNIT AGREEMENT

     THIS AGREEMENT, dated as of the award date (the “Award Date”) designated on the Summary of
Award referenced below, between Expedia, Inc., a Delaware corporation (the “Corporation”), and the
employee of the Corporation or one of its businesses (the “Eligible Individual”) designated as
receiving an award of restricted stock units (the “Restricted Stock Units”) by the
Compensation/Benefits Committee of the Board of Directors of the Corporation (or such other
Committee as the Board may from time to time designate) (the “Committee”).

     All capitalized terms used herein, to the extent not defined, shall have the meanings set
forth in the Corporation’s 2005 Stock and Annual Incentive Plan (the “Plan”).

1. Award and Vesting of Restricted Stock Units

     (a) Subject to the provisions of this Agreement and to the provisions of the Plan[, and
subject to the satisfaction of performance goals approved by the Committee], the
Corporation hereby grants Restricted Stock Units to the Eligible Individual pursuant to Section 7
of the Plan. Reference is made to the “Summary of Award” that can be found on the Smith Barney
Benefit Access System at www.benefitaccess.com (or any successor system selected by the
Corporation. Your Summary of Award, which sets forth the number of Restricted Stock Units granted
to you by the Corporation and the Award Date (among other information), is hereby incorporated by
reference into, and shall be read as part and parcel of, this Agreement.

     (b) Subject to the terms and conditions of this Agreement, the provisions of the Plan, the
Restricted Stock Units shall vest and no longer be subject to any restriction (such period during
which restrictions apply is the “Restriction Period”):

	 	 	 	 	 
	Vesting Date	 	Percentage of Total Award Vesting	 
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 

     (c) Notwithstanding the provisions of Paragraph 1(b), in the event the Eligible Individual
incurs a Termination of Employment by the Corporation for Cause, or the Eligible Individual
voluntarily incurs a Termination of Employment within two years after any event or circumstance
that would have been grounds for a Termination of Employment for Cause, the Eligible Individual’s
Restricted Stock Units (whether or not

 

 

vested) shall be forfeited and canceled in their entirety upon such Termination of Employment,
and the Corporation may cause the Eligible Individual, immediately upon notice from the
Corporation, either to return the shares issued upon settlement of Restricted Stock Units that
vested during the two-year period after the events or circumstances giving rise to or constituting
grounds for such Termination of Employment for Cause or to pay to the Corporation an amount equal
to the aggregate amount, if any, that the Eligible Individual had previously realized in respect of
any and all shares issued upon settlement of Restricted Stock Units that vested during the two-year
period after the events or circumstances giving rise to or constituting grounds for such
Termination of Employment for Cause (i.e., the value of the Restricted Stock Units upon vesting),
in each case including any dividend equivalents or other distributions received in respect of any
such Restricted Stock Units.

     (d) In the event the Eligible Individual incurs a Termination of Employment during the
Restriction Period for any reason other than as set forth in Paragraph 1(c), all remaining unvested
Restricted Stock Units shall be forfeited by the Eligible Individual and canceled in their entirety
effective immediately upon such termination.

     (e) For purposes of this Agreement, employment with the Corporation shall include employment
with the Corporation’s Affiliates (excluding InterActiveCorp and its subsidiaries) and its
successors. Nothing in this Agreement or the Plan shall confer upon the Eligible Individual any
right to continue in the employ of the Corporation or any of its Affiliates or interfere in any way
with the right of the Corporation or any such Affiliates to terminate the Eligible Individual’s
employment at any time.

2. Settlement of Units

     As soon as practicable after any Restricted Stock Units have vested and are no longer subject
to the Restriction Period (or at such later date specified by the Committee or in accordance with
the election of the Eligible Individual, if the Committee so permits), such Restricted Stock Units
shall be settled. Subject to Paragraph 8 (pertaining to the withholding of taxes), for each
Restricted Stock Unit settled pursuant to this Paragraph 2, the Corporation shall issue one share
of Common Stock for each vested Restricted Stock Unit and cause to be delivered to the Eligible
Individual one or more unlegended, freely-transferable stock certificates in respect of such shares
issued upon settlement of the vested Restricted Stock Units. Notwithstanding the foregoing, the
Corporation shall be entitled to hold the shares issuable upon settlement of Restricted Stock Units
that have vested until the Corporation or the agent selected by the Corporation to manage the Plan
under which the Restricted Stock Units have been issued (the “Agent”) shall have received from the
Eligible Individual a duly executed Form W-9 or W-8, as applicable.

3. Non-Transferability of the Restricted Stock Units

     During the Restriction Period and until such time as the Restricted Stock Units are ultimately
settled as provided in Paragraph 2 above, the Restricted Stock Units shall not

 

 

be transferable by the Eligible Individual by means of sale, assignment, exchange,
encumbrance, pledge, hedge or otherwise.

4. Rights as a Stockholder

     Except as otherwise specifically provided in this Agreement, during the Restriction Period,
the Eligible Individual shall not be entitled to any rights of a stockholder with respect to the
Restricted Stock Units. Notwithstanding the foregoing, if the Corporation declares and pays
dividends on the Common Stock during the Restriction Period, the Eligible Individual will be
credited with additional amounts for each Restricted Stock Unit equal to the dividend that would
have been paid with respect to such Restricted Stock Unit if it had been an actual share of Common
Stock, which amount shall remain subject to restrictions (and as determined by the Committee may be
reinvested in Restricted Stock Units or may be held in kind as restricted property) and shall vest
concurrently with the vesting of the Restricted Stock Units upon which such dividend equivalent
amounts were paid. Notwithstanding the foregoing, dividends and distributions other than regular
quarterly cash dividends, if any, may result in an adjustment pursuant to Paragraph 5, rather than
under this Paragraph 4.

5. Adjustment in the Event of Change in Stock; Change in Control

     In the event of (i) a stock dividend, stock split, reverse stock split, share combination or
recapitalization or similar event affecting the capital structure of the Corporation (each, a
“Share Change”), or (ii) a merger, consolidation, acquisition of property or shares, separation,
spinoff, reorganization, stock rights offering, liquidation, Disaffiliation, payment of cash
dividends other than an ordinary dividend or similar event affecting the Corporation or any of its
Subsidiaries (each, a “Corporate Transaction”), the Committee or the Board may in its discretion
make such substitutions or adjustments as it deems appropriate and equitable to the number of
Restricted Stock Units and the number and kind of shares of Common Stock underlying the Restricted
Stock Units.

     In the case of Corporate Transactions, such adjustments may include, without limitation (i)
the cancellation of the Restricted Stock Units in exchange for payments of cash, property or a
combination thereof having an aggregate value equal to the value of such Restricted Stock Units, as
determined by the Committee or the Board in its sole discretion, (ii) the substitution of other
property (including, without limitation, cash or other securities of the Corporation and securities
of entities other than the Corporation) for the shares of Common Stock underlying the Restricted
Stock Units and (iii) in connection with any Disaffiliation, arranging for the assumption of the
Restricted Stock Units, or the replacement of the Restricted Stock Units with new awards based on
other property or other securities (including, without limitation, other securities of the
Corporation and securities of entities other than the Corporation), by the affected
Subsidiary, Affiliate or division or by the entity that controls such Subsidiary, Affiliate or
division following such Disaffiliation (as well as any corresponding adjustments to any Restricted
Stock Units that remain based upon securities of the Corporation).

 

 

     The determination of the Committee regarding any such adjustment will be final and conclusive
and need not be the same for all Participants.

     Unless otherwise determined by the Committee, in the event of a Change in Control, the
provisions of Section 10 of the Plan shall apply.

6. Payment of Transfer Taxes, Fees and Other Expenses

     The Corporation agrees to pay any and all original issue taxes and stock transfer taxes that
may be imposed on the issuance of shares received by an Eligible Individual in connection with the
Restricted Stock Units, together with any and all other fees and expenses necessarily incurred by
the Corporation in connection therewith.

7. Other Restrictions

     (a) The Restricted Stock Units shall be subject to the requirement that, if at any time the
Committee shall determine that (i) the listing, registration or qualification of the shares of
Common Stock subject or related thereto upon any securities exchange or under any state or federal
law, or (ii) the consent or approval of any government regulatory body is required, then in any
such event, the award of Restricted Stock Units shall not be effective unless such listing,
registration, qualification, consent or approval shall have been effected or obtained free of any
conditions not acceptable to the Committee.

     (b) The Eligible Individual acknowledges that the Eligible Individual is subject to the
Corporation’s policies regarding compliance with securities laws, including but not limited to its
Securities Trading Policy (as in effect from time to time and any successor policies), and,
pursuant to these policies, if the Eligible Individual is on the Corporation’s insider list, the
Eligible Individual shall be required to obtain pre-clearance from the Corporation’s General
Counsel prior to purchasing or selling any of the Corporation’s securities, including any shares
issued upon vesting of the Restricted Stock Units, and may be prohibited from selling such shares
other than during an open trading window. The Eligible Individual further acknowledges that, in
its discretion, the Corporation may prohibit the Eligible Individual from selling such shares even
during an open trading window if the Corporation has concerns over the potential for insider
trading.

8. Taxes and Withholding

     No later than the date as of which an amount first becomes includible in the gross income of
the Eligible Individual for federal, state, local or foreign income or employment or other tax
purposes with respect to any Restricted Stock Units, the Eligible Individual shall pay to the
Corporation, or make arrangements satisfactory to the Corporation regarding the payment of, any
federal, state, local or foreign taxes of any kind required by law to be withheld with respect to
such amount. The obligations of the Corporation under this Agreement shall be conditioned on
compliance by the Eligible Individual with this Paragraph 8, and the Corporation and its Affiliates
shall, to the extent permitted by law, have the right to deduct any such taxes from any payment
otherwise

 

 

due to the Eligible Individual, including deducting such amount from the delivery of shares
issued upon settlement of the Restricted Stock Units that gives rise to the withholding
requirement.

9. Notices

     All notices and other communications under this Agreement shall be in writing and shall be
given by hand delivery to the other party or by facsimile, overnight courier or registered or
certified mail, return receipt requested, postage prepaid, addressed as follows:

     If to the Eligible Individual: at the last known address on record at the Corporation.

     If to the Corporation:

Expedia, Inc.

3150 139th Avenue S.E.

Bellevue, WA 98005

Attention: General Counsel

Facsimile: (425) 679-7251

or to such other address or facsimile number as any party shall have furnished to the other in
writing in accordance with this Paragraph 9. Notice and communications shall be effective when
actually received by the addressee. Notwithstanding the foregoing, the Eligible Individual
consents to electronic delivery of documents required to be delivered by the Corporation under the
securities laws.

10. Effect of Agreement

     Except as otherwise provided hereunder, this Agreement shall be binding upon and shall inure
to the benefit of any successor or successors of the Corporation.

11. Laws Applicable to Construction; Consent to Jurisdiction

     The interpretation, performance and enforcement of this Agreement shall be governed by the
laws of the State of Delaware without reference to principles of conflict of laws, as applied to
contracts executed in and performed wholly within the State of Delaware. In addition to the terms
and conditions set forth in this Agreement, the Restricted Stock Units are subject to the terms and
conditions of the Plan, which are hereby incorporated by reference.

     Any and all disputes arising under or out of this Agreement, including without limitation any
issues involving the enforcement or interpretation of any of the provisions of this Agreement,
shall be resolved by the commencement of an appropriate action in the state or federal courts
located within the state of Delaware, which shall be the exclusive jurisdiction for the resolution
of any such disputes. The Eligible Individual

 

 

hereby agrees and consents to the personal jurisdiction of said courts over the Eligible
Individual for purposes of the resolution of any and all such disputes.

12. Severability

     The invalidity or enforceability of any provision of this Agreement shall not affect the
validity or enforceability of any other provision of this Agreement.

13. Conflicts and Interpretation

     In the event of any conflict between this Agreement and the Plan, the Plan shall control. In
the event of any ambiguity in this Agreement, or any matters as to which this Agreement is silent,
the Plan shall govern including, without limitation, the provisions thereof pursuant to which the
Committee has the power, among others, to (i) interpret the Plan, (ii) prescribe, amend and rescind
rules and regulations relating to the Plan and (iii) make all other determinations deemed necessary
or advisable for the administration of the Plan.

     In the event of any (i) conflict between the Summary of Award (or any other information posted
on the Smith Barney Benefit Access System or successor system) and this Agreement, the Plan and/or
the books and records of the Corporation or (ii) ambiguity in the Summary of Award (or any other
information posted on the Smith Barney Benefit Access System or successor system), this Agreement,
the Plan and/or the books and records of the Corporation, as applicable, shall control.

14. Amendment

     The Corporation may modify, amend or waive the terms of the Restricted Stock Unit award,
prospectively or retroactively, but no such modification, amendment or waiver shall impair the
rights of the Eligible Individual without his or her consent, except as required by applicable law,
NASDAQ or stock exchange rules, tax rules or accounting rules. The waiver by either party of
compliance with any provision of this Agreement shall not operate or be construed as a waiver of
any other provision of this Agreement, or of any subsequent breach by such party of a provision of
this Agreement. If the Company makes a good faith determination that any compensation provided
under this Agreement is likely to be subject to the additional tax imposed by Section 409A, the
Company may, to the extent it deems necessary or advisable, modify this Agreement, without the
Eligible Employee’s consent, to reduce the risk that such additional tax will apply, in a manner
designed to preserve the material economic benefits intended to be provided to the Eligible
Employee under this Agreement (other than any diminution of such benefit that may be attributable
to the time value of money resulting from a delay in the timing of payments hereunder for a period
of approximately six months or such longer period as may be required).

 

 

15. Headings

     The headings of paragraphs herein are included solely for convenience of reference and shall
not affect the meaning or interpretation of any of the provisions of this Agreement.

16. Counterparts

     This Agreement may be executed in counterparts, which together shall constitute one and the
same original.

17. Data Protection

     The Eligible Individual authorizes the release from time to time to the Corporation (and any
of its subsidiaries or affiliated companies) and to the Agent (together, the “Relevant Companies”)
of any and all personal or professional data that is necessary or desirable for the administration
of the Plan and/or this Agreement (the “Relevant Information”). Without limiting the above, the
Eligible Individual permits his or her employing company to collect, process, register and transfer
to the Relevant Companies all Relevant Information (including any professional and personal data
that may be useful or necessary for the purposes of the administration of the Plan and/or this
Agreement and/or to implement or structure any further grants of equity awards (if any)). The
Eligible Individual hereby authorizes the Relevant Information to be transferred to any
jurisdiction in which the Corporation, his or her employing company or the Agent considers
appropriate. The Eligible Individual shall have access to, and the right to change, the Relevant
Information. Relevant Information will only be used in accordance with applicable law.

 

 

     IN WITNESS WHEREOF, as of the date first above written, the Corporation has caused this
Agreement to be executed on its behalf by a duly authorized officer and the Eligible Individual has
hereunto set the Eligible Individual’s hand. Electronic acceptance of this Agreement pursuant to
the Corporation’s instructions to the Eligible Individual (including through an online acceptance
process managed by the Agent) is acceptable.

	 	 	 
	 

	 	EXPEDIA, INC.
	 
	 	 
	 

	 	 
	 

	 	Name:
	 

	 	Title:
	 
	 	 
	 

	 	ELIGIBLE INDIVIDUALexv10w1

 

Exhibit 10.1

LEAR CORPORATION

RESTRICTED STOCK AWARD AGREEMENT

     THIS RESTRICTED STOCK AWARD AGREEMENT (this “Agreement”), dated as of November 9, 2006
(the “2006 Grant Date”), is entered into between Lear Corporation, a Delaware corporation
(the “Company”), and Daniel A. Ninivaggi (“Participant”), an employee of the
Company.

RECITALS:

     WHEREAS, the Company has adopted and maintains the Lear Corporation Long-Term Stock Incentive
Plan, as amended (the “Plan”); and

     WHEREAS, pursuant to the Plan the Company desires to grant to the Participant shares of its
common stock, $0.01 par value per share (“Shares”), subject to certain restrictions set
forth in this Agreement, effective as of the Grant Dates (as defined below);

     WHEREAS, the Committee has duly made all determinations necessary or appropriate to the grant
hereunder.

     NOW, THEREFORE, in consideration of the premises and the mutual covenants set forth in this
Agreement and for other good and valuable consideration, the receipt of which is hereby
acknowledged, the parties agree as follows:

     1. Definitions. Any capitalized term used in this Agreement that is not defined in
this Agreement will have the same meaning as that given to it in the Plan.

     2. Grant of Restricted Stock.

     (a) Subject to the terms and conditions of the Plan, and the additional terms and conditions
set forth in this Agreement, the Company hereby grants to Participant, as a matter of separate
agreement and not in lieu of salary or any other compensation for services, a number of Shares
equal to $300,000 divided by the Fair Market Value of a Share on November 9, 2006 (the “2006
Restricted Stock”).

     (b) All of the 2006 Restricted Stock is vested as of the date hereof.

     (c) Subject to the terms and conditions of the Plan, and the additional terms and conditions
set forth in this Agreement, as long as Participant remains employed by the Company or an Affiliate
through and including January 31, 2007, the Company will grant to Participant on January 31, 2007
(the “2007 Grant Date”, and together with the 2006 Grant Date, the “Grant

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Dates”),
as a matter of separate agreement and not in lieu of salary or any other compensation for
services, a number of Shares equal to $200,000 divided by the Fair Market Value of a Share on
January 31, 2007 (the “2007 Restricted Stock”, and together with the 2006 Restricted Stock,
the “Restricted Stock”).

     (d) If granted pursuant to Section 2(c) above, all of the 2007 Restricted Stock will be vested
as of the 2007 Grant Date.

     3. Certificates. As soon as practicable following their respective Grant Dates,
Shares of Restricted Stock awarded under Section 2 will be evidenced by one or more certificates
bearing a legend referring to the terms, conditions and restrictions applicable to such Restricted
Stock.

     4. Rights and Restrictions.

     (a) Participant will have full voting rights with respect to shares of Restricted Stock issued
hereunder as of their respective Grant Dates. Participant will be entitled to receive dividends on
shares of Restricted Stock if and when dividends are payable on Shares to stockholders of record
after their respective Grant Dates (unless and until such Restricted Stock is forfeited).

     (b) For so long as Participant remains employed by the Company or any of the Company’s
Affiliates, the Restricted Stock may not be sold or transferred by Participant prior to January 31,
2008, other than pursuant to Section 5 below. Notwithstanding the foregoing, if Participant’s
employment with the Company and any of its Affiliates shall terminate on or after the date hereof,
the Restricted Stock which shall have vested prior to the date of such termination shall be fully
transferable by Participant following such termination.

     5. Delivery and Withholding. Subject to satisfaction of tax withholding obligations
and other withholding as described below, shares of Restricted Stock will be transferred and
delivered to Participant as soon as practicable after the respective Grant Dates. The payment to
Participant and transfer of such shares of Restricted Stock described herein will be subject to
withholding by the Company, as of each Grant Date, of a number of Shares sufficient to cover
withholding obligations applicable to such payment and transfer (the “Withheld Shares”).
In addition, in connection with the grants of Restricted Stock hereunder, as of the respective
Grant Dates the Company shall purchase from Participant an amount of Shares of the Restricted Stock
(the “Repurchased Shares”) such that the Repurchased Shares plus the Withheld Shares equals
40% of the Restricted Stock. on the respective Grant Dates.

     6. Plan. The rights granted under this Agreement are in all respects subject to the
provisions of the Plan to the same extent and with the same effect as if they were set forth fully
herein. If the terms of this document or the Restricted Stock conflict with the terms of the Plan
document, the Plan document will control.

     7. Plan, Restricted Stock and Award Not a Contract of Employment. Neither the Plan,
the Restricted Stock nor any other right or interest that is part of this Agreement is a contract
of employment, and no terms of employment of the Employee will be affected in any

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way by the Plan,
the Restricted Stock, this Agreement or related instruments, except as specifically provided
therein. Neither the establishment of the Plan nor the Awards will be
construed as conferring any legal rights upon the Employee for a continuation of employment,
nor will it interfere with the right of the Company or any Affiliate to discharge the Employee and
to treat him or her without regard to the effect that treatment might have upon him or her as an
Employee.

     8. No Limitation on the Rights of the Company. The grants of the Restricted Stock
described in this document will not in any way affect the right or power of the Company to make
adjustments, reclassifications or changes in its capital or business structure, or to merge,
consolidate, dissolve, liquidate, sell or transfer all or any part of its business or assets.

     9. Notice. Any notice or other communication required or permitted hereunder must be
in writing and must be delivered personally, or sent by certified, registered or express mail,
postage prepaid. Any such notice will be deemed given when so delivered personally or, if mailed,
three days after the date of deposit in the United States mail, in the case of the Company to 21557
Telegraph Road, P. O. Box 5008, Southfield, Michigan, 48086-5008, Attention: Senior Vice President
- Human Resources and, in the case of the Employee, to the last known address of the Employee in
the Company’s records.

     10. Governing Law. This document and the Awards will be construed and enforced in
accordance with, and governed by, the laws of the State of Michigan, determined without regard to
its conflict of law rules.

     11. Counterparts. This Agreement may be signed in two counterparts, each of which
will be an original, but both of which will constitute one and the same instrument.

     12. Headings. The headings in this Agreement are for reference purposes only and will
not affect the meaning or interpretation of this Agreement.

*     *     *     *     *

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     IN WITNESS WHEREOF, the Company and the Participant have executed this Agreement as of the
date first written above.

	 	 	 	 	 
	 	LEAR CORPORATION

 	 
	 	By:  	/s/ Roger A. Jackson
 	 
	 	 	Roger A. Jackson 	 
	 	 	Senior Vice President — Human Resources 	 
	 
	 	PARTICIPANT

 	 
	 	/s/ Daniel A. Ninivaggi
 	 
	 	Daniel A. Ninivaggi 	 
	 	 	 
	 

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