Document:

Exhibit 10.9-Nonemployee Director Equity Incentive Plan-Form of Restricted Stock Agreement

Exhibit 10.9

QUANTUM CORPORATION

RESTRICTED STOCK AGREEMENT

         Quantum Corporation (the “Company”) hereby grants you, [NAME] (the “Director”), a grant of Restricted Stock under the Company’s Nonemployee
Director Equity Incentive Plan (the “Plan”).  The date of this Agreement is __________, 2004.  Subject to the provisions of Appendix A (attached) and of the Plan, the principal features of this grant are as follows:

 

	
Number of Shares of Restricted Stock:    [NUMBER]   

	
                             

	
Purchase Price per Share:     

	
US $0.01

			
Total Purchase Price:

	
US $

	
Scheduled Vesting Dates/

      Period of Restriction:

		
Number of Shares:

	
	
             [DATE]

		
       [NUMBER]

	
	
             [DATE]

		
       [NUMBER]

	
	
             [DATE]

		
       [NUMBER]

	

 

IMPORTANT:

         Your signature below indicates your agreement and understanding that this grant is subject to all of the terms and conditions contained in Appendix A and the Plan. 
For example, important additional information on vesting and forfeiture of the Shares covered by this grant is contained in Paragraphs 3 through 5 of Appendix A.  PLEASE BE SURE TO READ ALL OF APPENDIX A, WHICH CONTAINS THE SPECIFIC TERMS AND CONDITIONS OF THIS
AGREEMENT.

 

	
QUANTUM CORPORATION

	
                     

	
DIRECTOR

	
 

	
 

	
 

	
 /s/ Barbara Barrett

	
 

	
 

	

	
 

	

	
Vice President, Human Resources

	
 

	
[NAME]

	
 

	
 

	
 

	
 

	
 

	
 

	
Date:                        

	
 

	
Date                                       

 

APPENDIX A - TERMS AND CONDITIONS OF RESTRICTED STOCK GRANT

           1.         Grant.  The Company hereby grants to the Director the right to purchase under the Plan the number
of Shares of Restricted Stock shown on the first page of this Restricted Stock Agreement, subject to all of the terms and conditions in this Agreement and the Plan.  The right to purchase the Shares of Restricted Stock covered by this Agreement shall expire 30
days from the date of this Agreement.  After that date, the Director shall have no right to purchase such Shares.  Purchase of the Shares of Restricted Stock covered by this Agreement shall be accomplished by the Director signing this Agreement and
delivering it to the Company’s Stock Administration Department together with full payment (by check) for the total purchase price of the Shares of Restricted Stock.

           2.         Shares Held in Escrow.  Unless and until the Shares of Restricted Stock have vested in the manner
set forth in paragraphs 3 or 4, such Shares will be issued in the name of the Director and held by the Secretary of the Company (or its designee) as escrow agent (the “Escrow Agent”), and will not be sold, transferred or otherwise disposed of, and will
not be pledged or otherwise hypothecated.  The Company may determine to issue the Shares of Restricted Stock in book entry form and/or may instruct the transfer agent for its Shares to place a legend on the certificates representing the Shares of Restricted
Stock or otherwise note on its records as to the restrictions on transfer set forth in this Agreement and the Plan.  The certificate or certificates representing the Shares of Restricted Stock will not be delivered by the Escrow Agent to the Director unless and
until the Shares have vested and all other terms and conditions in this Agreement have been satisfied.

           3.         Vesting Schedule/Period of Restriction.  Except as provided in paragraph 4, and subject to
paragraph 5, the Shares of Restricted Stock subject to this grant will vest as to the number of Shares, and on the dates shown, on the first page of this Agreement, but in each case only if the Director remains a member of the Company’s Board of Directors
through the applicable vesting date.

           4.         Committee Discretion.  The Committee, in its discretion, may accelerate the vesting of the
balance, or some lesser portion of the balance, of the unvested Shares of Restricted Stock at any time, subject to the terms of the Plan.  If so accelerated, such Shares will be considered as having vested as of the date specified by the Committee.

           5.         Forfeiture.  Notwithstanding any contrary provision of this Agreement, the balance of the Shares
of Restricted Stock that have not vested pursuant to paragraphs 3 or 4 will be forfeited and automatically transferred to and reacquired by the Company on the date the Director ceases to be a member of the Board of Directors of the Company for any reason.  The
Director shall be entitled to a refund of the price paid for the Shares of Restricted Stock returned to the Company pursuant to this paragraph 5.  The Director hereby appoints the Escrow Agent with full power of substitution, as the Director’s true and
lawful attorney-in-fact with irrevocable power and authority in the name and on behalf of the Director to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or
certificates evidencing the unvested Shares to the Company upon such forfeiture.

           6.         Death of Director.  Any distribution or delivery to be made to the Director under this Agreement
will, if the Director is then deceased, be made to the administrator or executor of the Director’s estate.  Any such transferee must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the
Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer.

           7.         Withholding of Taxes.  Notwithstanding any contrary provision of this Agreement, no certificate
representing Shares of Restricted Stock may be released from the escrow established pursuant to paragraph 2 unless and until satisfactory arrangements (as determined by the Committee) will have been made by the Director with respect to the payment of any income and
other taxes which the Company determines must be withheld with respect to such Shares.

           8.         Rights as Stockholder.  Neither the Director nor any person claiming under or through the
Director will have any of the rights or privileges of a stockholder of the Company in respect of any Shares of Restricted Stock deliverable hereunder unless and until certificates representing such Shares will have been issued, recorded on the records of the Company
or its transfer agents or registrars, and delivered to the Director or the Escrow Agent.  Except as provided in paragraph 10, after such issuance, recordation and delivery, the Director will have all the rights of a stockholder of the Company with respect to
voting such Shares and receipt of dividends and distributions on such Shares.

           9.         No Effect on Service.  The terms of the Director’s service with the Board will be
determined from time to time by the Board and the Company’s stockholders, and the Board and the Company’s stockholders will have the right, which is hereby expressly reserved, to terminate or change the terms of such service without regard to any effect
on the Shares of Restricted Stock awarded by this Agreement.

           10.       Changes in Shares.  In the event that as a result of a stock dividend, stock split, reclassification,
recapitalization, combination of Shares or the adjustment in capital stock of the Company or otherwise, or as a result of a merger, consolidation, spin-off or other reorganization, the Shares will be increased, reduced or otherwise changed, and by virtue of any such
change the Director will in his capacity as owner of unvested Shares of Restricted Stock which have been awarded to him (the “Prior Shares”) be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants
to purchase securities), such new or additional or different shares, cash or securities will thereupon be considered to be unvested Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the Prior Shares pursuant to
this Agreement and the Plan.  If the Director receives rights or warrants with respect to any Prior Shares, such rights or warrants may be held or exercised by the Director, provided that until such exercise any such rights or warrants and after such exercise
any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the Prior Shares pursuant to the Plan and this
Agreement.   The Committee in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by
the exercise of such rights or warrants.

           11.       Address for Notices.  Any notice to be given to the Company under the terms of this Agreement will be
addressed to the Company, in care of the Company’s Stock Administration Department, at Quantum Corporation, 1650 Technology Drive, Suite 800, San Jose, CA  95110, or at such other address as the Company may hereafter designate in writing.

           12.       Grant is Not Transferable.  Except to the limited extent provided in paragraph 6 above, this grant and the
rights and privileges conferred hereby will not be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and will not be subject to sale under execution, attachment or similar process.  Upon any attempt to transfer,
assign, pledge, hypothecate or otherwise dispose of this grant, or any right or privilege conferred hereby, or upon any attempted sale under any execution, attachment or similar process, this grant and the rights and privileges conferred hereby immediately will
become null and void.

           13.       Binding Agreement.  Subject to the limitation on the transferability of this grant contained herein, this
Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto.

           14.       Additional Conditions to Release from Escrow.  If at any time the Company will determine, in its discretion,
that the listing, registration or qualification of the Shares of Restricted Stock upon any securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory authority is necessary or desirable as a condition to the
release of such Shares from the escrow established pursuant to paragraph 2, such release will not occur unless and until such listing, registration, qualification, consent or approval will have been effected or obtained free of any conditions not acceptable to the
Company.  The Company will make all reasonable efforts to meet the requirements of any such state or federal law or securities exchange and to obtain any such consent or approval of any such governmental authority.

           15.       Plan Governs.  This Agreement is subject to all terms and provisions of the Plan.  In the event of a
conflict between one or more provisions of this Agreement and one or more provisions of the Plan, the provisions of the Plan will govern.  Capitalized terms used and not defined in this Agreement will have the meaning set forth in the Plan.

           16.       Committee Authority.  The Committee will have the power to interpret the Plan and this Agreement and to
adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules (including, but not limited to, the determination of whether or not any Shares of Restricted Stock have
vested).  All actions taken and all interpretations and determinations made by the Committee in good faith will be final and binding upon Director, the Company and all other interested persons.  No member of the Committee will be personally liable for any
action, determination or interpretation made in good faith with respect to the Plan or this Agreement.

           17.       Captions.  Captions provided herein are for convenience only and are not to serve as a basis for
interpretation or construction of this Agreement.

           18.       Agreement Severable.  In the event that any provision in this Agreement will be held invalid or
unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of this Agreement.

           19.       Modifications to the Agreement.  This Agreement constitutes the entire understanding of the parties on the
subjects covered.  The Director expressly warrants that he is not accepting this Agreement in reliance on any promises, representations, or inducements other than those contained herein.  Modifications to this Agreement or the Plan can be made only in an
express written contract executed by a duly authorized officer of the Company.

           20.       Amendment, Suspension or Termination of the Plan.  By accepting this award, the Director expressly warrants
that he has received a right to purchase stock under the Plan, and has received, read and understood a description of the Plan.  The Director understands that the Plan is discretionary in nature and may be modified, suspended or terminated by the Company at any
time.

           21.       Notice of Governing Law.  This Agreement shall be governed by, and construed in accordance with, the laws of
the State of California without regard to principles of conflict of laws.Exhibit 10.12-Letter agreement dtd December 16, 2003 between Registrant and George Kreigler

Exhibit 10.12

Quantumtm

	
                                                                                                    

	
John Gannon

 President & Chief Operating Officer

 Quantum Corporation

 4001 Discovery Drive, Suite #1100

 Boulder, Colorado 80303

 Telephone: 720-406-5590

 John.Gannon@quantum.com

 www.quantum.com

	
 

	
 

		
December 16, 2003

 

To:  George Kreigler

From:  John Gannon

 

Dear George,

I am pleased that you have accepted the opportunity to lead Quantum’s Storage Systems organization as the General Manager.

I realize the leadership challenges that this new role presents and am completely confidant that you are capable of driving the organizational change and achieving the results that will allow us to meet our strategic
goals.  I’ve already mentioned to you that you will be eligible for a performance bonus based on achieving specific quarterly results.  The details of that program will be specified in a separate communication.

In addition, as we discussed, if your position is eliminated within the next 18 months and a comparable job is not found within Quantum, or if you are discharged for any reason other than misconduct, or failure to perform
within that time period, Quantum will provide you with a severance package of up to 12 months salary upon your signature on Quantum’s “release of all claims” agreement.

To confirm this agreement, please sign one copy of this letter and return it to Barbara Barrett.

	
                                                                                                    

	
Sincerely,

 /s/ John Gannon

John Gannon

 President & Chief Operating Officer

	
 

	
	
 

	
 

I understand and accept the terms of this agreement

Signed:  /s/ George Kreigler                          

 Dated:  
12/16/03

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