Document:

Google Inc. Deferred Compensation Plan

 Exhibit 4.01 
 GOOGLE INC. 
 DEFERRED COMPENSATION PLAN 

Effective as of July 1, 2011 

 TABLE OF CONTENTS 

 
  

					
	 	  	Page	 
		
	 Article I Definitions
	  	 	1	  
		
	 Article II Participation
	  	 	3	  
		
	 Article III Deferral Elections
	  	 	4	  
		
	 Article IV Accounts
	  	 	5	  
		
	 Article V Vesting
	  	 	5	  
		
	 Article VI Distributions
	  	 	5	  
		
	 Article VII Administration
	  	 	7	  
		
	 Article VIII Miscellaneous
	  	 	10	  

  
 - i -

 GOOGLE INC. DEFERRED COMPENSATION PLAN 

(Effective as of July 1, 2011) 
 The Google Inc. Deferred Compensation Plan, adopted by Google Inc., effective as of July 1, 2011. 
 RECITALS 
 1. The Company established the Plan for the purpose of providing
short term deferral opportunity for employees on its U.S. payroll. 
 2. Under the Plan, the Company is obligated to pay vested
accrued benefits to the Plan participants and their beneficiaries. 
 3. Benefits under the Plan shall be payable solely from
the general assets of the Company; no trust or other funding mechanism will be established. 
 4. The Company intends that the
amounts deferred by Participants and any notional earnings thereon, at all times be subject to the claims of the general creditors of the Company. 
 5. The Company intends that the Plan shall not be construed to provide income to Plan Participants under the Plan prior to actual payment of the accrued benefits under the Plan. 

6. Under the terms of the Plan, the Company has established a committee that administers the Plan which is authorized to administer the
Plan as set forth herein. 
 NOW THEREFORE, the Company hereby establishes the Plan as follows, effective as of July 1,
2011, as hereinafter set forth. 
 ARTICLE I 
 DEFINITIONS 
 1.1 Definitions. 

Whenever the following words and phrases are used in this Plan, with the first letter capitalized, they shall have the meanings specified
below: 
 “Account” means, for each Participant, the bookkeeping account maintained by the Committee that is credited
with amounts equal to the portion of the Participant’s Compensation that he or she elects to defer, and adjustments to reflect deemed earnings and losses pursuant to Section 4.1(b). 

“Beneficiary” means the beneficiary last designated (or deemed designated) by a Participant in accordance with procedures
established by the Committee from time to time to receive the benefits specified hereunder in the event of the Participant’s death. If, at the time of the Participant’s death, the Participant has no properly designated Beneficiary, then
the Beneficiary shall be deemed to have been designated as Beneficiaries by the Participant in the following order of precedence: (i) the surviving spouse, if then living; (ii) his or her child(ren) in equal shares, if then living;
(iii) his or her parents in 

  
 - 1 -

 
equal shares, if then living; (iv) his or her siblings, in equal shares, if then living; (v) his or her estate. If a Beneficiary who is entitled to payment dies before receiving
distribution of the amount to which he or she is entitled, then the amount shall be payable to the representative of the Beneficiary’s estate. 
 “Board of Directors” or “Board” means the Board of Directors of Google Inc. 
 “Bonus” means any cash payments made at the discretion of the Company to an Employee, while the Employee is an active Employee, as remuneration under a designated Company bonus plan(s), other
then under a Quarterly Sales Bonus plan or program, and that is paid through the Company’s United States payroll. Bonus for purposes of the Plan shall be determined without regard to any reduction (i) for any salary deferral contributions
to a plan described in Section 125, Section 132(f) or Section 401(k) of the Code or (ii) pursuant to any deferral election in accordance with Article III of the Plan. 

“Change in Control” means a change in the ownership, or effective control, of a corporation, or in the ownership of a
substantial portion of the assets of a corporation, within the meaning of Treasury Regulation Section 1.409A-3(i)(5) or other guidance issued by the Secretary of the Treasury or Internal Revenue Service pursuant to Section 885(e) of the
American Jobs Creation Act of 2004. 
 “Code” means the Internal Revenue Code of 1986, as amended. Reference to a
section of the Code includes such section and any comparable section or sections of any future legislation that amends, supplements or supersedes such section. 
 “Committee” means the Committee that administers the Plan in accordance with Article VII. 
 “Company” means Google Inc. (“Google”), any successor corporation of Google, or any wholly owned subsidiaries or controlled group members of Google, as defined in Section 414(b),
(c) or (m) of the Code, which is designated as a participating company by the Committee. 
 “Compensation”
means Bonus and/or Quarterly Sales Bonus payments. 
 “Eligible Employee” means an Employee whom the Company
contemporaneously regards, classifies or treats as a U.S. domestic regular employee scheduled to work twenty (20) or more hours per week for at least five (5) months in any calendar year. An Eligible Employee does not include any
individuals who the Company contemporaneously regards, classifies or treats as (i) leased employees (whether or not within the meaning of Section 414(n) of the Code), staffing, payroll or temporary agency employees, independent
contractors, or consultants, even if such persons are later determined by a court, regulatory body or administrative agency to be or have been common law employees of the Company; (ii) interns; or (iii) variable part-time employees. An
Eligible Employee must be deemed as actively employed by the Committee on such date as the Committee shall specify, which date shall be no later then the first day of the Open Enrollment Period. The Committee may exclude an otherwise Eligible
Employee from participation in the Plan as it deems advisable in its sole and absolute discretion. 
 “Employee” means
a common law employee of the Company who is regularly performing services in the United States or is on the Company’s United States payroll. 
 “Investment Return” means, for each Notional Investment Fund, an amount equal to the rate of gain or loss on the assets of such Notional Investment Fund (net of applicable fund and investment
charges) as of each Valuation Date. 
 “Notional Investment Fund(s)” means the investment fund or funds selected by
the Committee for hypothetical investment. 

  
 - 2 -

 “Open Enrollment Period” means the annual period established by the Committee
during which Eligible Employees may elect to enroll in the Plan or to change elections relating to the rate at which they wish to defer Compensation under the Plan. Solely with respect to the establishment of the Plan and the first short Plan Year,
the Open Enrollment period means the period established by the Committee during which Eligible Employees may elect to initially enroll in the Plan, which period shall end no later then June 30, 2011. 

“Participant” means any Eligible Employee who elects to defer Compensation in accordance with Section 3.1. 

“Payment Date” means the first full calendar quarter coinciding with or beginning after the earliest of (i) the Scheduled
Withdrawal specified by the Participant pursuant to Section 6.1, (ii) the date that is six (6) months following his or her Separation from Service, or (iii) the date of his or her death. 

“Plan” means the Google Inc. Deferred Compensation Plan set forth herein, now in effect, or as amended from time to time.

 “Plan Year” means the calendar year. Notwithstanding the foregoing, the first Plan Year shall be a short Plan Year,
commencing July 1, 2011 and ending December 31, 2011. 
 “Quarterly Sales Bonus” means any compensation that
is actually awarded by the Company at its discretion to an Employee, while the Employee is an active Employee, as remuneration under a Company designated sales commission or bonus plan or program and that is paid through the Company’s United
States payroll. Quarterly Sales Bonus(es) for purposes of the Plan shall be determined without regard to any reduction (i) for any salary deferral contributions to a plan described in Section 125, Section 132(f) or Section 401(k)
of the Code or (ii) pursuant to any deferral election in accordance with Article III of the Plan. 
 “Separation
from Service” means a separation from service within the meaning of Treasury Regulation Section 1.409A-1(h) or other guidance issued by the Secretary of the Treasury or Internal Revenue Service pursuant to Section 885(e) of the
American Jobs Creation Act of 2004, except that a Participant’s death shall not be considered a Separation from Service under this Plan. 
 “Treasury Regulations” means regulations issued by the United States Secretary of the Treasury. 
 “Valuation Date” means the last day of each Plan Year or such other dates as specified by the Committee. 
 ARTICLE II 
 PARTICIPATION 

2.1 Participation. 
 An
Eligible Employee shall become a Participant in the Plan by electing to defer a portion of his or her Compensation in accordance with Section 3.1. 

  
 - 3 -

 ARTICLE III 
 DEFERRAL ELECTIONS 
 3.1 Elections to Defer Compensation. 

(a) General Rule. Each Eligible Employee may elect to defer Compensation by filing an election with the Committee that conforms to
the requirements of this Section 3.1. 
 (b) Amount of Deferrals. The amount of Compensation that an Eligible
Employee may elect to defer is as follows: 
 (1) Any whole-number percentage of Bonus up to one hundred
percent (100%); and/or 
 (2) Any whole-number percentage of Quarterly Sales Bonus up to one hundred
percent (100%), 
 provided, however, that no election shall be effective to reduce Compensation paid to an Eligible Employee for a
calendar year to an amount that is less than the amount necessary to pay (i) applicable employment taxes payable with respect to amounts deferred hereunder, (ii) amounts necessary to satisfy any other benefit plan deferral elections or
withholding obligations, (iii) any resulting income taxes required to be withheld with respect to Compensation that cannot be so deferred, and (iv) any amounts necessary to satisfy any wage garnishment or similar type of obligations.

 (c) Election to Defer Bonus. An Eligible Employee may elect to defer Bonus for any performance periods that begin
during any Plan Year by filing an election, on a form provided by the Committee, to defer Bonus. Such an election must be filed during the Open Enrollment Period that precedes the Plan Year during which the relevant performance periods begin. Any
such election shall become irrevocable on the December 15 preceding the Plan Year to which the deferral election relates. Notwithstanding the foregoing, solely with respect to the establishment of the Plan and its first short Plan Year (July 1,
2011 - December 31, 2011) an Eligible Employee may elect to defer Bonus on a pro rata basis in accordance with Treasury Regulation Section 1.409A-2(a)(7) by filing an election, on a form provided by the Committee, to defer such Bonus. Such an
election must be filed during the initial Open Enrollment Period, established by the Committee which shall end no later then June 30, 2011. An election under this subsection shall not be effective for any Plan Year (or initial short Plan
Year) for which the Participant is not an Eligible Employee as of the beginning of such Plan Year (or initial short Plan Year). 

(d) Election to Defer Quarterly Sales Bonus. An Eligible Employee may elect to defer Quarterly Sales Bonus for performance periods
that begin during any Plan Year by filing an election, on a form provided by the Committee, to defer such Quarterly Sales Bonus. Such an election must be filed during the Open Enrollment Period that precedes the Plan Year during which the relevant
performance periods begin. Any such election shall become irrevocable on the December 15 preceding the Plan Year to which the deferral election relates. Notwithstanding the foregoing, solely with respect to the establishment of the Plan and its
first short Plan Year (July 1, 2011 - December 31, 2011) an Eligible Employee may elect to defer Quarterly Sales Bonus earned during the initial short Plan Year by filing an election, on a form provided by the Committee, to defer such Quarterly
Sales Bonus. Such an election must be filed during the initial Open Enrollment Period, established by the Committee which shall end no later then June 30, 2011. An election under this subsection shall not be effective for any Plan
Year (or initial short Plan Year) for which the Participant is not an Eligible Employee as of the beginning of such Plan Year (or initial short Plan Year). 

  
 - 4 -

 ARTICLE IV 
 ACCOUNTS 
 4.1 Participant Accounts. 

The Committee shall establish and maintain an Account for each Participant under the Plan. A Participant’s Account shall be credited
as follows: 
 (a) As of the date on which payment of a Bonus or Quarterly Sales Bonus payment would have been made, or as soon
as administratively practicable thereafter, the Committee shall credit the Participant’s Account with an amount equal to Bonus or Quarterly Sales Bonus deferred by the Participant in accordance with the Participant’s election. 

(b) As of each Valuation Date, the Participant’s Account shall be adjusted for gains or losses based on the Investment Return.

 ARTICLE V 
 VESTING 
 5.1 Compensation Deferrals. 

A Participant’s Account attributable to Compensation deferred by a Participant pursuant to the terms of this Plan, together with any
amounts credited to the Participant’s Account under Section 4.1(b) with respect to such deferrals, shall be one hundred percent (100%) vested at all times. 
 ARTICLE VI 
 DISTRIBUTIONS 

6.1 Scheduled Withdrawals. 
 (a) Scheduled Withdrawals. A Participant must, in connection with his or her Compensation deferral election for a Plan Year, specify a withdrawal date (a “Scheduled Withdrawal”) of all of
his or her Account attributable to Compensation deferred for such Plan Year, including any amounts credited with respect to such deferrals pursuant to Section 4.1(b), subject to the following restrictions: 

(1) An election of a Scheduled Withdrawal made during any Open Enrollment Period must specify a payment date that is
either three (3) years, four (4) years or five (5) years following the end of the Plan Year in which ends the last Bonus performance period and/or Quarterly Sales Bonus period to which a deferral election made during such Open
Enrollment Period would apply. The election to take a Scheduled Withdrawal shall be made by completing a form approved by and filed with the Committee. 

  
 - 5 -

 (2) The amount payable to a Participant as of any payment date specified in
connection with an election of a Scheduled Withdrawal shall in all cases be one hundred percent (100%) of the Compensation deferred for the Plan Year with respect to which the election of the specific payment date applies, as adjusted for
earnings and losses pursuant to Section 4.1(b), determined as of the most recent Valuation Date as is administratively feasible preceding the Scheduled Withdrawal date. 

(3) Payment of a Scheduled Withdrawal shall be made in a single lump sum on the Payment Date. 

6.2 Distribution of Amounts Upon Separation from Service. 
 In the event that a Participant has a Separation from Service prior to the payment of a Scheduled Withdrawal, the portion of the Participant’s Account that has not yet been paid pursuant to any
election to receive a Scheduled Withdrawal in accordance with Section 6.1 shall be paid to the Participant in a single lump sum on the Payment Date following the Participant’s Separation from Service. 

6.3 Distributions Upon Death of Participant. 
 If the Participant dies prior to receiving the entire portion of his or her Account, such portion remaining at the time of the Participant’s death shall be paid to his or her Beneficiary in a single
lump sum on the Payment Date following the Participant’s death. 
 6.4 Distribution Upon Change in Control. 

(a) Notwithstanding any other Plan provision, the entire vested portion of a Participant’s Account shall be paid to the Participant
upon a Change of Control, in the form of a single lump sum. 
 6.5 Reduction of Account Balance; Continued Crediting of Earnings.

 At the time of any distribution or withdrawal under this Plan, the Participant’s Account shall be reduced by the amount
of the distribution or withdrawal. Except as provided in Section 6.9, a Participant’s Account (as may be so reduced) shall continue to be credited with earnings or debited for losses pursuant to Section 4.1(b) until all vested amounts
credited to the Account have been distributed or withdrawn. 
 6.6 Timing of Distributions. 

Subject to Section 6.8, any distribution or withdrawal to be made on a specified date under this Plan (including, for the avoidance
of doubt, a Payment Date) may be made as soon as administratively feasible after that date; provided, however, that actual distribution or withdrawal shall in any event be made by the later of (i) the last day of the calendar year of the
specified date or (ii) the fifteenth day of the third calendar month following the specified date, provided that the Participant may not directly or indirectly designate the calendar year in which actual distribution or withdrawal is to be
made. 
 6.7 Distributions in Cash. 
 All distributions and withdrawals shall be made in cash. 
 6.8 Delay Due to Effect of Deduction
Limitation. 
 If the Company reasonably anticipates that its deduction with respect to any amounts to be paid to a
Participant under this Plan for a taxable year of the Company would not be permitted due to the application of Section 162(m) of the Code, then all such amounts whose deduction would be barred by

  
 - 6 -

 
Section 162(m) shall instead be paid to the Participant or his or her Beneficiary (in the event of the Participant’s death) (i) in the case of a Scheduled Withdrawal, during the
first taxable year of the Company in which the Company reasonably anticipates that the deduction with respect to such payment will not be barred by Section 162(m), or (ii) in the case of a payment triggered by the Participant’s
Separation from Service, during the first full calendar quarter beginning at least six (6) months after the date of the Participant’s Separation from Service Any amount for which payment is delayed pursuant to this Subsection shall
continue to be adjusted for earnings and losses in accordance with Section 4.1(b). 
 6.9 Inability to Locate Participant.

 In the event that the Committee is unable to locate a Participant or Beneficiary within two (2) years following the date
a payment is scheduled to be made, the amounts then credited to the Participant’s Account shall be forfeited. If, after such forfeiture but within five (5) years following the date the payment was scheduled to be made, the Participant or
Beneficiary claims such benefit, such benefit (calculated immediately prior to the forfeiture) shall be reinstated without interest or earnings. After five (5) years following the date the payment was scheduled to be made, if the Participant or
Beneficiary cannot be located and/or does not claim such benefit, such benefit shall be permanently forfeited. 
 ARTICLE VII

 ADMINISTRATION 
 7.1 Committee. 
 The Committee shall serve at the pleasure of the
Company’s compensation committee and shall consist of five (5) members. The members comprising the Committee shall be selected as follows: two (2) shall be members of the Company’s human resources department, two (2) shall
be members of the Company’s finance department, and one (1) shall be a member of the Company’s legal department, each designated by the head of his or her department. A member of the Committee may resign by delivering a written notice
of resignation to the other Committee members. A member will be deemed to have resigned upon his or her termination of employment with the Company. Vacancies in the membership of the Committee shall be filled promptly by the head of department with
the vacant position. No Committee member shall be removed during the period beginning one (1) month before and ending one (1) year after a Change in Control. 
 7.2 Committee Action. 
 The Committee shall act at meetings by affirmative
vote of a majority of its members. Any action permitted to be taken at a meeting may be taken without a meeting if a written consent to the action is signed or electronic consent is provided by all members of the Committee and such written consent
is filed with the minutes of the proceedings of the Committee. A member of the Committee shall not vote or act upon any matter that relates solely to himself or herself as a Participant. The chair (and any other member or members of the Committee
designated by the chair) may (i) without the consent of any other members of the Committee, take action on any day-to-day matter regarding the Plan, and any other action or type of action as the Committee by resolution may authorize, and
(ii) execute any certificate or other written direction on behalf of the Committee. 
 7.3 Powers and Duties of the Committee.

 (a) The Committee, on behalf of the Participants and their Beneficiaries, shall enforce the Plan in accordance with its
terms, shall be charged with the general administration of the Plan and shall have all powers necessary to accomplish its purposes, including, but not by way of limitation, the following: 

(1) To select the fund(s) to be the Notional Investment Fund(s); 

  
 - 7 -

 (2) To construe and interpret the terms and provisions of the Plan;

 (3) To determine who is an Eligible Employee and to exclude an otherwise Eligible Employee from participation
in the Plan as the Committee deems advisable in its sole and absolute discretion; 
 (4) To amend, modify,
suspend or terminate the Plan in accordance with Section 8.5; 
 (5) To compute and certify the amount of
benefits payable to Participants and their Beneficiaries; 
 (6) To maintain all records that may be necessary
for the administration of the Plan; 
 (7) To provide for the disclosure of all information and the filing or
provision of all reports and statements to Participants, Beneficiaries or governmental agencies as shall be required by law; 
 (8) To make and publish such rules and procedures for the administration of the Plan as are not inconsistent with the terms hereof; 

(9) To appoint any agent, and to delegate to such agent such powers and duties in connection with the administration of
the Plan as the Committee may from time to time prescribe; 
 (10) To determine which entities other than Google
is a Company; 
 (11) To take all actions that it is authorized or directed to take under this Plan document; and

 (12) To take all further actions that Committee deems advisable or necessary in administration of the Plan.

 7.4 Construction and Interpretation. 
 The provisions of this Plan shall be construed, interpreted and administered in a manner whereby all provisions comply with the conditions of Section 409A(2),(3) and (4) of the Code and
Section 885 of the American Jobs Creation Act of 2004 and any regulations or other guidance issued thereunder by the United States Secretary of the Treasury or the Internal Revenue Service. Subject to the preceding sentence, the Committee shall
have full discretion to construe and interpret the terms and provisions of this Plan, which interpretation or construction shall be final and binding on all parties, including but not limited to the Company and any Participant or Beneficiary. The
Committee shall administer the terms and provisions of the Plan in a uniform and nondiscriminatory manner and in full accordance with any and all laws applicable to the Plan. 

  
 - 8 -

 7.5 Information. 
 To enable the Committee to perform its functions, the Company shall supply full and timely information to the Committee on all matters relating to the Compensation of all Participants, their death or
other cause of termination, and such other pertinent facts as the Committee may reasonably require. 
 7.6 Compensation, Expenses and
Indemnity. 
 (a) The members of the Committee shall serve without compensation for their services hereunder. 

(b) The Committee is authorized at the expense of the Company to employ such legal counsel and other agents as it may deem advisable to
assist in the performance of its duties hereunder. Expenses and fees in connection with the administration of the Plan shall be paid by the Company. 
 (c) To the extent permitted by applicable state law, the Company shall indemnify and hold harmless the Committee and each member thereof, the Board and any delegate of the Committee who is an employee of
the Company against any and all expenses, liabilities and claims, including legal fees to defend against such liabilities and claims arising out of their discharge in good faith of responsibilities under or incident to the Plan, other than expenses
and liabilities arising out of willful misconduct or gross negligence. This indemnity shall not preclude such further indemnities as may be available under insurance purchased by the Company or provided by the Company under any bylaw, agreement or
otherwise, as such indemnities are permitted under applicable law. 
 7.7 Periodic Statements. 

Under procedures established by the Committee, a Participant (or his or her Beneficiary, in the case of a deceased Participant) shall
receive a statement with respect to the Participant’s Account at least annually. 
 7.8 Disputes. 

(a) A person who believes that he or she is being denied a benefit to which he or she is entitled under the Plan (hereinafter referred to
as “Claimant”) may file a written request for such benefit with the Committee, setting forth his or her claim. The Committee shall review the claim and any documents or information provided by Claimant. The Committee shall provide to
Claimant, within a reasonable time (generally within ninety (90) days), a written response to his or her claim which may approve the Claimant’s request (in whole or in part) or may deny the Claimant’s request (in whole or in part).
Claimant must file a claim with the Committee and receive the Committee’s written decision prior to proceeding with any action described in subsection (b) below. 
 (b) Subject to the initial review provided for in the foregoing subsection (a), all disputes, claims or controversies relating to, arising out of or in connection with this Plan shall be subject to
binding arbitration administered by Judicial Arbitration and Mediation Services, Inc. (“JAMS”), pursuant to its then-current Employment Arbitration Rules & Procedures, venued in the County of Santa Clara, California and before an
arbitrator who is licensed to practice law in the State of California. 

  
 - 9 -

 ARTICLE VIII 
 MISCELLANEOUS 
 8.1 Unsecured General Creditor. 

Participants and their Beneficiaries, heirs, successors, and assigns shall have no legal or equitable rights, claims, or interests in any
specific property or assets of the Company. No assets of the Company shall be held in any way as collateral security for the fulfilling of the obligations of the Company under this Plan. Any and all of the Company’s assets shall be, and remain,
the general unpledged, unrestricted assets of the Company and shall be subject to the claims of the Company’s general creditors. The Company’s obligation under the Plan shall be merely that of an unfunded and unsecured promise of the
Company to pay money in the future, and the rights of the Participants and Beneficiaries shall be no greater than those of unsecured general creditors. 
 8.2 Restriction Against Assignment. 
 The Committee shall direct
distribution of all amounts payable hereunder only to the person or persons designated by the Plan and not to any other person or entity. Except as provided in Section 8.3, no part of a Participant’s Account shall be liable for the debts,
contracts, or engagements of any Participant, his or her Beneficiary, or successors in interest, nor shall a Participant’s Account be subject to execution by levy, attachment, or garnishment or by any other legal or equitable proceeding, nor
shall any such person have any right to alienate, anticipate, sell, transfer, commute, pledge, encumber, or assign any benefits or payments hereunder in any manner whatsoever. If any Participant, Beneficiary or successor in interest is adjudicated
bankrupt or purports to anticipate, alienate, sell, transfer, assign, commute, pledge, encumber or charge any distribution or payment from the Plan, voluntarily or involuntarily, the Committee, in its sole and absolute discretion, may cancel such
distribution or payment (or any part thereof) to or for the benefit of such Participant, Beneficiary or successor in interest in such manner as the Committee shall direct. 
 8.3 Distribution Pursuant to a Domestic Relations Order. 
 The Committee
shall direct distribution of all or a portion of a Participant’s Account to an individual other than a Participant or Beneficiary as necessary to fulfill a domestic relations order, as defined in Section 414(p)(1)(B) of the Code, but only
if such order directs that distribution to such individual be made in an immediate single lump sum. 
 8.4 Withholding. 

There shall be deducted from each distribution made under the Plan or other compensation payable to the Participant or Beneficiary all
taxes that are required to be withheld by the Company in respect to such distribution. The Company shall have the right to reduce any distribution (or compensation), and the Committee shall have the right to direct reduction of any distribution, by
the amount of cash sufficient to provide the amount of said taxes. 
 8.5 Amendment, Modification, Suspension or Termination. 

(a) The Committee may amend, modify, suspend or terminate the Plan in whole or in part, except that no amendment, modification,
suspension or termination shall have any retroactive effect to reduce the value or vested percentage of any amounts allocated to a Participant’s Account at the time of the amendment, modification, suspension or termination, and provided that a
termination or suspension of the Plan or any Plan amendment or modification that will significantly increase costs to the Company shall be approved by the Board; and 

  
 - 10 -

 (b) In the event that this Plan is terminated, amounts credited to a Participant’s
Account (regardless of whether such amounts had become vested) shall be distributed to the Participant or, in the event of his or her death, his or her Beneficiary, as follows: 

1. If the termination is under circumstances described in Treasury Regulation Sections 1.409A-3(j)(4)(ix)(A)
(relating to termination upon a corporate dissolution or with approval of a bankruptcy court), 1.409A-3(j)(4)(ix)(B) (relating to plan termination upon a Change in Control) or 1.409A-3(j)(4)(ix)(C) (relating to a termination unrelated to a downturn
in financial health of a service recipient), and the conditions for accelerated distribution to the Participant (or Beneficiary) under the applicable regulation are satisfied, distribution of all such amounts shall be made at the earliest
permissible time or times that satisfy the applicable regulation. 
 2. If the termination is not under
circumstances described in Treasury Regulation Sections 1.409A-3(j)(4)(ix)(A), 1.409A-3(j)(4)(ix)(B) or 1.409A-3(j)(4)(ix)(C), or the conditions for accelerated distribution to the Participant (or Beneficiary) under any such section are not
met, distribution shall be made at the times and in the form as provided under the Plan without regard to the termination of the Plan. 
 8.6
Governing Law. 
 Except for the arbitration clause in Section 7.8(b), which shall be governed by the FEDERAL
ARBITRATION ACT (9 U.S.C. SECTION 1, ET SEQ.), this Plan shall be construed, governed and administered in accordance with the laws of the State of California, without reference to rules of conflict of law. 

8.7 Receipt. 
 Any
payment to a Participant or the Participant’s Beneficiary in accordance with the provisions of the Plan shall, to the extent thereof, be in full satisfaction of all claims against the Committee and the Company. 

8.8 Payments on Behalf of Persons under Incapacity. 
 In the event that any amount becomes payable under the Plan to a person who, in the sole judgment of the Committee, is considered by reason of physical or mental condition to be unable to give a valid
receipt therefore, the Committee may direct that such payment be made to any person found by the Committee, in its sole judgment, to have assumed the care of such person. Any payment made pursuant to such determination shall constitute a full
release and discharge of the Committee and the Company. 
 8.9 No Employment Rights. 

Participation in this Plan shall not confer upon any person any right to be employed by, or continued as an employee of, the Company or
any other right not expressly provided hereunder. The Company expressly reserves the right to discharge any of its employees at any time, with or without cause. 

  
 - 11 -

 8.10 Headings Not Part of Plan. 

Headings and subheadings in this Plan are inserted for convenience of reference only and are not to be considered in the construction of
the provisions hereof. 
 8.11 Severability. 
 If any provision of this Plan is held invalid or unenforceable, its invalidity or unenforceability will not affect any other provision of this Plan, and the Plan will be construed and enforced as if such
provision had not been included. 

  
 - 12 -

 IN WITNESS WHEREOF, the undersigned duly authorized member of the Committee has
caused this Plan document to be executed on this 13th day of June, 2011. 
  

	
	/s/ John Casey
	John Casey, Member of the Google Inc. Deferred Compensation Plan Committeeexhibit_10-10.htm

Exhibit 10.10

 

 

Visualant, Inc. 

WARRANT TO PURCHASE COMMON STOCK 

THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE PURSUANT TO THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF: (A) AN EFFECTIVE REGISTRATION STATEMENT WITH RESPECT TO THE WARRANT UNDER SAID ACT, (B) AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT, OR (C) AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

FOR VALUE RECEIVED,

 

VISUALANT, INC., a Nevada corporation (the "Company"), grants the following rights to Coach Capital LLC ("Holder"), a Corporation having an address at 1201 Orange Street, Suite 600, Wilmington, DE 19899-0511. This Warrant is issued in connection with the Convertible Promissory Note issued by the Company, as Borrower, to the Holder, as Lender, in the principal amount of USD $250,000.00 dated December 4, 2009 (the “Note”), and the Holder of this Warrant is subject to certain restrictions as set forth in the Note and as set forth herein.

 

ARTICLE 1.          DEFINITIONS

As used herein, the following terms shall have the following meanings, unless the context shall otherwise require:

	
  

	
(a)

	
"Common Stock" shall mean the shares of Common Stock, par value $0.001 per share, of the Company.

	
  

	
(b)

	
"Corporate Office" shall mean the office of the Company (or its successor) at which its principal business shall be administered, which office is located at the date hereof at 500 Union Street, Suite 406, Seattle, Washington 98101.

	
  

	
c)

	
"Exercise Date" shall mean any date upon which the Holder shall give the Company a Notice of Exercise, which shall be deemed the date the Notice of Exercise was first deposited in the U.S. Mail, if mailed, or the date received by the courier company if delivered by recognized courier company, or the date received by the Company if otherwise given or personally delivered.

	
  

	
(d)

	
"Exercise Price" shall mean the price to be paid to the Company for each share of Common Stock to be purchased upon exercise of this Warrant in accordance with the term hereof, which shall be USD $0.15 per share.

	
  

	
(e)

	
"Expiration Date" shall mean 5:00 PM (Pacific Standard Time) on the third (3rd) anniversary of the date of issuance of this Warrant.

  

Page 1

  

	 	
(f) 

	
"SEC" shall mean the United States Securities and Exchange Commission.

	
  

	
(g)

	
“Extraordinary Event” shall mean (i) the merger or consolidation of the Company with or into another entity, or any other corporate reorganization in which the Company shall not be the continuing or surviving entity of such merger, consolidation or reorganization; or (ii) the sale of all or substantially all of the Company’s assets; or (iii) the initial registered public offering of the Company’s Common Stock pursuant to the Securities Act of 1933, as amended (the “Securities Act”).

 

ARTICLE 2.          EXERCISE

	
2.1

	
Exercise of Warrant

This Warrant shall entitle Holder to purchase, at the Exercise Price of $0.15 for 833,333 shares of Common Stock.  This Warrant shall be exercisable at any time and from time to time prior to the Expiration Date (the "Exercise Period").  This Warrant and the right to purchase Shares hereunder shall expire and become void at the Expiration Date.

	
2.2

	
Acceleration of Exercise Period

The Company shall have the right, at any time after the occurrence of an Extraordinary Event, to accelerate the Exercise Period by sending to the Holder, at the Holder's address written above, a Notice of Acceleration in substantially the form attached as Appendix I hereto (the "Notice").  In the event the Company does accelerate the Exercise Period, the Holder shall have thirty (30) days from the date the Holder receives the Notice within which to exercise this Warrant in the manner provided for in Section 2.3, after which time this Warrant and the right to purchase the Shares hereunder, to the extent not previously exercised, shall expire and become void.  The Holder shall be deemed to have received the Notice three (3) business days after the date the Notice is deposited in the U.S. Mails.

2.3           Manner of Exercise

	
  

	
(a)

	
Holder may exercise this Warrant at any time and from time to time during the Exercise Period, in whole or in part (but not in denominations of fewer than 10,000 Shares, except upon an exercise of this Warrant with respect to the remaining balance of Shares purchasable hereunder at the time of exercise), by delivering to the Company at its Corporate Office: (i) a duly executed Notice of Exercise in substantially the form attached as Appendix II hereto, and (ii) a bank cashier's or certified check for the aggregate Exercise Price of the Shares being purchased.

	
  

	
(b)

	
From time to time upon exercise of this Warrant, in whole or part, in accordance with its Terms, the Company will cause its transfer agent to countersign and deliver stock certificates to the Holder representing the number of Shares being purchased pursuant to such exercise, subject to adjustment as described herein.

	
  

	
(c)

	
Promptly following any exercise of this Warrant, if the Warrant has not been fully exercised and has not expired, the Company will deliver to the Holder a new Warrant for the balance of the Shares covered hereby.

	
2.4

	
Termination

  

Page 2

  

All rights of the Holder in this Warrant, to the extent they have not been exercised, shall terminate on the Expiration Date, unless sooner terminated pursuant to the provisions of Section 2.2 above.

	
2.5

	
No Right Prior to Exercise

Prior to its exercise pursuant to Section 2.3 above, this Warrant shall not entitle the Holder to any voting, dividend or other rights as a holder of Shares.

	
2.6

	
Adjustments

In case of any reclassification, capital reorganization, stock dividend, or other change of outstanding shares of Common Stock, or in case of any consolidation or merger of the Company with or into another corporation (other than a consolidation or merger in which the Company is the continuing corporation and which does not result in any reclassification, capital reorganization, stock dividend, or other change of outstanding shares of Common Stock), or in case of any sale or conveyance to another corporation of the property of the Company as, or substantially as, an entirety (other than a sale/leaseback, mortgage or other financing transaction), the Company shall cause effective provision to be made so that the Holder shall have the right thereafter, by exercising this Warrant, to purchase the kind and number of shares of stock or other securities or property (including cash) receivable upon such reclassification, capital reorganization, stock dividend, or other change, consolidation, merger, sale or conveyance as the Holder would have been entitled to receive had the Holder exercised this Warrant in full immediately before such reclassification, capital reorganization, stock dividend, or other change, consolidation, merger, sale or conveyance.  Any such provision shall include provision for adjustments that shall be as nearly equivalent as may be practicable to the adjustments provided for in this Section 2.6.  The foregoing provisions shall similarly apply to successive reclassifications, capital reorganizations, stock dividends, and other changes of outstanding shares of Common Stock and to successive consolidations, mergers, sales or conveyances.

	
2.7

	
Fractional Shares

No fractional Shares shall be issuable upon exercise or conversion of this Warrant and the number of Shares to be issued shall be rounded down to the nearest whole Share.  In lieu of any fractional share to which the Holder would otherwise be entitled, the Company shall make a cash payment equal to the Exercise Price multiplied by such fraction.

 

ARTICLE 3.          REPRESENTATIONS AND COVENANTS OF THE COMPANY

	
3.1

	
Representations and Warranties

The Company hereby represents and warrants to the Holder as follows:

	
  

	
(a)

	
All Shares which may be issued upon the exercise of the purchase right represented by this Warrant shall, upon issuance, be duly authorized, validly issued, fully-paid and nonassessable, and be free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and state securities laws, and not subject to any pre-emptive rights.

	
  

	
(b)

	
The Company is a corporation duly organized and validly existing under the laws of the State of Nevada, and has the full power and authority to issue this Warrant and to comply with the terms hereof.  The execution, delivery and performance by the Company of its obligations under this Warrant, including, without limitation, the issuance of the Shares upon any exercise of the Warrant, have been duly authorized by all necessary corporate action.  This Warrant has been duly executed and delivered by the Company and is a valid and binding obligation of the Company, enforceable in accordance with its terms, except as enforcement may be limited by applicable bankruptcy, insolvency, reorganization or similar laws affecting enforceability of creditors' rights generally and except as the availability of the remedy of specific enforcement, injunctive relief or other equitable relief is subject to the discretion of the court before which any proceeding therefor may be brought.

  

Page 3

  

 

	
  

	
(c)

	
The Company is not subject to or bound by any provision of any certificate or articles of incorporation or by-laws, mortgage, deed of trust, lease, note, bond, indenture, other instrument or agreement, license, permit, trust, custodianship, other restriction or any applicable provision of any law, statute, any court, governmental body, administrative agency or arbitrator which could prevent or be violated by or under which there would be a default (or right of termination) as a result of the execution, delivery and performance by the Company of this Warrant.

 

ARTICLE 4.          MISCELLANEOUS

	
  

	
4.1

	
Transfer

This Warrant may not be transferred or assigned, in whole or in part, at any time, except in compliance with applicable federal and state securities laws by the transferor and the transferee (including, without limitation, the delivery of an investment representation letter and a legal opinion reasonably satisfactory to the Company), provided that this Warrant may not be transferred or assigned such that either the Holder or any transferee will, following such transfer or assignment, hold a Warrant for the right to purchase fewer than 10,000 Shares.  In addition, this Warrant is non-detachable from the Note issued to the Holder, and this Warrant may not be transferred or assigned separate from the Note.

	
  

	
4.2

	
Transfer Procedure

Subject to the provisions of Section 4.1, Holder may transfer or assign this Warrant by giving the Company notice setting forth the name, address and taxpayer identification number of the transferee or assignee, if applicable (the "transferee"), and surrendering this Warrant to the Company for re-issuance to the transferee (and to the Holder in the event of a transfer or assignment of this Warrant in part).  Each of the persons or entities in whose name any such new Warrant shall be issued is herein referred to as a Holder.

	
  

	
4.3

	
Loss, Theft, Destruction or Mutilation

If this Warrant shall become mutilated or defaced or be destroyed, lost or stolen, the Company shall execute and deliver a new Warrant in exchange for and upon surrender and cancellation of such mutilated or defaced Warrant or, in lieu of and in substitution for such Warrants so destroyed, lost or stolen, upon the Holder filing with the Company evidence satisfactory to the Company that such Warrant has been so mutilated, defaced, destroyed, lost or stolen.  However, the Company shall be entitled, as a condition to the execution and delivery of such new Warrant, to demand indemnity satisfactory to it and payment of the expenses and charges incurred in connection with the delivery of such new Warrant.  Any Warrant so surrendered to the Company shall be cancelled.

  

Page 4

  

	 	
4.4 

	
Notices

All notices and other communications from the Company to the Holder or vice versa shall be deemed delivered and effective when given personally, by facsimile transmission and confirmed in writing, or mailed by first-class registered or certified mail, postage prepaid, at such address and/or facsimile number as may have been furnished to the Company or the Holder, as the case may be, in writing by the Company or the Holder from time to time; provided, however, that the Notice of Exercise may not be delivered by facsimile transmission.

	
  

	
4.5

	
Waiver

This Warrant and any term hereof may be changed, waived, or terminated only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought.

 

	 	
4.6 

	
Governing Law

This Warrant shall be governed by and construed in accordance with the laws of the State of Washington, without giving effect to its principles regarding conflicts of law.

Dated: December 4, 2009

 

	 	VISUALANT, INC.	 
	 	 	 
	
 

	

/s/ Ronald P. Erickson

	 
	 	

By: Ronald P. Erickson

	 
	 	

Its: Chairman and CEO

	 
	 	 	 

  

Page 5

  

APPENDIX I

NOTICE OF ACCELERATION

Dated:                                                                           

VISUALANT, INC. (the "Company") does hereby notify you of its election to exercise its right, pursuant to Section 2.2 of the Warrant issued to you by the Company on November 27, 2009 (the "Warrant"), to accelerate the Exercise Period of such Warrant.  Please be advised that you have thirty (30) days from the date you receive this Notice of Acceleration (the "Thirty-Day Period") to exercise your Warrant in the manner provided for in the Warrant.  You will be deemed to have received this Notice of Acceleration three (3) business days after the date when this Notice of Acceleration was first deposited in the U.S. Mail.

You will automatically forfeit your right to purchase the shares of Common Stock of the Company issuable upon exercise of such Warrant, to the extent not previously purchased, unless the Warrant is exercised before the end of the Thirty-Day Period.

VISUALANT, INC.

By:                                                                          

Name:                                                                     

Title:                                                                       

  

Page 6

  

APPENDIX II

NOTICE OF EXERCISE

	
1.

	
The undersigned hereby elects to purchase __________________________ (_________) shares of the Common Stock of VISUALANT, INC. pursuant to the terms of the attached Warrant, and tenders herewith payment of the purchase price of such shares in full.

	
2.

	
Please issue a certificate or certificates representing said shares in the name of the undersigned or in such other name as specified below.

(Name)                                                                                          

 

(Address)                                                                                     

                  ____________________________________

 

                  ____________________________________

	
3.

	
The undersigned represents that he/she/it is acquiring the shares solely for his/her/its own account and not as a nominee for any other party, and not with a view toward the resale or distribution thereof except in compliance with applicable securities laws.  The undersigned further acknowledges that all shares of Common Stock issued pursuant hereto shall be stamped or imprinted with a restrictive legend in substantially the following form (in addition to any legend required by state securities laws):

“THE SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS.  SUCH SECURITIES MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION UNLESS THE TRANSFER IS IN ACCORDANCE WITH RULE 144 OR A SIMILAR RULE AS THEN IN EFFECT UNDER THE ACT OR UNLESS THE CORPORATION RECEIVES AN OPINION OF COUNSEL REASONABLY ACCEPTABLE TO IT STATING THAT SUCH SALE OR TRANSFER IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF THE ACT.”

 

 

 

	 	 	 
	
(Signature)  

	 	(Date)

 

 

Page 7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00191-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00191-of-00352.parquet"}]]