Document:

EXHIBIT 10.9

 

THE
ALLSTATE CORPORATION

2006 EQUITY COMPENSATION PLAN FOR
NON-EMPLOYEE DIRECTORS

RESTRICTED STOCK UNIT AWARD
AGREEMENT

 

[Addressee]

 

In accordance with the terms of The Allstate Corporation 2006 Equity
Compensation Plan for Non-Employee Directors (the “Plan”), pursuant to action
of the Nominating and Governance Committee of the Board of Directors, The
Allstate Corporation hereby grants to you (the “Participant”), subject to the
terms and conditions set forth in this Restricted Stock Unit Award Agreement
and the Plan, which is incorporated herein by reference, Restricted Stock Units
(“RSUs”) as set forth below.  Each RSU
corresponds to one share of Stock. An RSU is an unfunded and unsecured promise
to deliver one share of Stock on the Conversion Date or as otherwise provided
herein.  Until such delivery, you have
only the rights of a general unsecured creditor of The Allstate Corporation and
not as a stockholder with respect to the shares of Stock underlying your RSUs.

 

	
  Number of RSUs
  Granted:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Date of Grant:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Period of Restriction:

  	
   

  	
  As to the total number
  of RSUs, Date of Grant through the earlier of (i) the date of the
  Participant’s death or Disability, and (ii) the date on which the
  Participant is no longer serving on the Board.

  
	
   

  	
   

  	
   

  
	
  Conversion Date:

  	
   

  	
  Each RSU will convert
  to one share of Stock on the day following the date the restrictions lapse
  with respect to that RSU.

  
	
   

  	
   

  	
   

  
	
  Dividend

  	
   

  	
   

  
	
  Equivalent Right:

  	
   

  	
  Each RSU shall include
  a right to Dividend Equivalents.

  

 

1.  Terms and Conditions of Award.  It is understood and agreed that the Award of
RSUs evidenced by the RSU Award Agreement is subject to the terms and
conditions as set forth herein.  Further
terms and conditions applicable to the RSU Award including but not limited to
termination of director status and Change of Control, are set forth in the Plan
and incorporated by reference.  To the
extent any provision hereof is inconsistent with a provision of the Plan, the
provision of the Plan will govern. 
Capitalized terms not otherwise defined herein shall have the meanings
given them in the Plan.  By accepting
this Award, the Participant hereby acknowledges the receipt of a copy of this
RSU Award Agreement and a copy of the Prospectus and agrees to be bound by all
the terms and provisions hereof and thereto.

 

2.  Forfeiture Restriction.  The Period of Restriction applicable to the
RSUs shall lapse upon the earlier of (i) the date of the Participant’s
death or Disability, and (ii) the date on which the Participant is no
longer serving on the Board.  

 

 

3.             Conversion
Date.  Unless otherwise determined by the Board, a
Participant shall be entitled to delivery of shares of Stock that underlie the
RSUs then outstanding on the day following the date the restrictions lapse with
respect to such RSU.

 

4.             Dividend
Equivalent Right.  During the Period of Restriction, each RSU
entitles a Participant to receive a cash amount equal to such regular dividend
payment as would have been made in respect of each share of Stock underlying
such RSU in accordance with the following schedule:

 

	
  Regular Dividend Payment
  (“RDP”), if any

  	
   

  	
  Dividend Equivalent Payment Date

  
	
   

  	
   

  	
   

  
	
  1st Quarter

  	
   

  	
  January 1 through
  March 31 of the year RDP paid

  
	
  2nd Quarter

  	
   

  	
  April 1 through
  June 30 of the year RDP paid

  
	
  3rd Quarter

  	
   

  	
  July 1 through
  September 30 of the year RDP paid

  
	
  4th Quarter

  	
   

  	
  October 1 through
  December 31 of the year RDP paid

  

 

Cash payment with respect to a Dividend
Equivalent right shall be made only with respect to such RSUs that are
outstanding on the dividend record date.

 

5.             Ratification of Actions. 
By accepting the RSU Award or other benefit under the Plan, the
Participant and each person claiming under or through him or her shall be
conclusively deemed to have indicated the Participant’s acceptance and ratification
of, and consent to, any action taken under the Plan or the RSU Award by the
Company, the Board or the Nominating and Governance Committee.

 

6.             Notices.  Any notice
hereunder to the Company shall be addressed to its Stock Option Record Office
and any notice hereunder to the Participant shall be addressed to him or her at
the address specified on this RSU Award Agreement, subject to the right of
either party to designate at any time hereafter in writing some other address.

 

8.             Governing Law and Severability. 
To the extent not preempted by Federal law, the RSU Award Agreement will
be governed by and construed in accordance with the laws of the State of
Delaware, without regard to conflicts of law provisions.  In the event any provision of this RSU Award Agreement
shall be held illegal or invalid for any reason, the illegality or invalidity
shall not affect the remaining parts of this RSU Award Agreement, and this RSU
Award Agreement shall be construed and enforced as if the illegal or invalid
provision had not been included.

 

 

	
   

  	
  Thomas J. Wilson

  
	
   

  	
  Chairman, President and
  Chief Executive Officer

  
	
   

  	
  THE ALLSTATE
  CORPORATIONEXHIBIT 10.10

 

RESOLUTIONS

 

Director Compensation

 

RESOLVED, that on June 1 of each year,
effective June 1, 2009, directors who are not officers or employees of the
Corporation or any of its subsidiaries (each a “Non-Employee Director”) who are
serving as directors on that date shall be entitled to receive for their
service as directors until the next annual meeting of shareholders (i) a
$70,000 annual retainer (the “Annual Retainer”) and (ii) a number of  restricted stock units (“RSUs”) equal to
$150,000 divided by the Fair Market Value, as defined in the 2006 Equity
Compensation Plan for Non- Employee Directors, of the Corporation’s common
stock as of June 1, with any resulting fractional amount rounded up to the
next whole RSU.

 

FURTHER RESOLVED, each Non-Employee Director
who serves as a chair of a committee of the Corporation’s Board of Directors
shall receive an additional $15,000 fee for each such chair (“Chair Fee”) to be
paid on June 1 of each year to each Non-Employee Director serving as a
committee chair on such date.

 

FURTHER RESOLVED, that any Non-Employee Director initially elected or appointed
to the Board or initially appointed as a committee chair effective on any date
other than June 1 shall be entitled to receive (i) on the date he or
she joins the Board or becomes such chair, as the case may be, an amount equal
to his or her Annual Retainer or Chair Fee, as the case may be (assuming such Non-Employee
Director had been serving on the Board or serving as such chair on the
preceding June 1) plus (ii) on the date he or she joins the Board, an
award of RSUs equal in value to the sum of $150,000 divided by the Fair Market Value
of the Corporation’s common stock as of the date the Non-Employee Director
joins the Board, in each case multiplied by a fraction, the numerator of which
is the number of full calendar months such Non-Employee Director will serve on
the Board or as such chair until the following May 31 and the denominator
of which is 12.

 

FURTHER RESOLVED, that effective June 1,
2009, the annual compensation for Non-Employee Directors will no longer include
annual stock option awards to purchase shares of the Corporation’s common stock
under the 2006 Equity Compensation Plan for Non-Employee Directors.Exhibit 10.1

 

 

UNIONBANCAL CORPORATION

 

BRIDGE PLAN

 

 

 

UNIONBANCAL CORPORATION

BRIDGE PLAN

 

1.             Establishment, Purpose,
General Description, and Definitions

 

(a)           The
UnionBanCal Corporation Bridge Plan, as set forth herein (the “Plan”), has been
adopted by UnionBanCal Corporation (the “Company” or “UNBC”)  effective upon the closing of the merger of
the Company with a subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd. (“BTMU”)
pursuant to an Agreement and Plan of Merger between the Company and BTMU dated August 18,
2008 (the “Transaction”).

 

(b)           The
purpose of the Plan is to provide a bridge from the long-term incentive
compensation plans that were in place prior to the Transaction to the long-term
incentive compensation plans that will be implemented following the Transaction
so that there will be no interruption in long-term incentive compensation
during the transition.

 

(c)           Each
Participant will be required to enter into an Award Agreement, which will
specify the amount of the Bridge Awards, and the Incentive Periods during which
the Participant must remain employed in order to earn the Bridge Awards.  The amount of the Bridge Awards and the
duration of the Incentive Periods need not be the same for each Participant.

 

(d)           Definitions
include:

 

(1)           Award Agreement refers
to a written agreement between UNBC and a Participant with respect to a Bridge
Award.

 

(2)           Board refers to UNBC’s
Board of Directors.

 

(3)           Bridge Award refers
to the award which a Participant may earn by remaining employed through the end
of the applicable Incentive Period.

 

(4)           Code refers to the
Internal Revenue Code of 1986, as amended. 
Reference in the Plan to any Section of the Code shall be deemed to
include any amendments or successor provisions to such Section and any
regulations under such Section.

 

(5)           Committee refers
to the committee which administers the Plan pursuant to Section 2.

 

(6)           Employee refers
to any common law employee of UNBC or its Subsidiaries except:  (1) any independent contractor retained
to perform services for UNBC or its Subsidiaries, including consultants; and (2) any

 

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person
who provides services to UNBC or its Subsidiaries pursuant to an agreement
between UNBC or its Subsidiaries and any other person or organization.

 

(7)           Incentive Period refers
to the period during which the Participant must remain employed in order to
earn a Bridge Award.

 

(8)           Participant refers
to an Employee who has been designated by the Committee as eligible to
participate in the Plan and who has entered into an Award Agreement.

 

(9)           Subsidiaries refers
to subsidiary corporations, as defined in Section 424(f) of the Code
(but substituting “UNBC” for “employer corporation”), including Subsidiaries of
UNBC which become such after the adoption of the Plan.

 

2.             Administration of the Plan

 

(a)           The
Plan shall be administered by the Executive Compensation and Benefits Committee
of UNBC’s Board of Directors, or such other committee as may be appointed by
the Board (the “Committee”).  The Committee
shall be composed as set forth in Section 2(b).

 

(b)           The
members of the Committee shall consist of two or more directors appointed by
the Board.  The Board may from time to
time increase (and thereafter may decrease) the size of the Committee, elect or
remove members thereto (with or without cause) and fill any vacancies however
created.

 

(c)           The
Committee shall meet at such times and places and upon such notice as the
Committee’s Chair determines.  A majority
of the Committee shall constitute a quorum. 
Any acts by the Committee may be taken at any meeting at which a quorum
is present and shall be by majority vote of those members entitled to vote.

 

(d)           The
Committee shall determine which Employees of UNBC or its Subsidiaries shall be
granted awards under the Plan, the timing of such awards, the terms thereof,
the Incentive Period applicable to each award, and the amount of the Bridge Award
payable pursuant to each award.

 

(e)           The
Committee shall have the sole authority, in its absolute discretion, to adopt,
amend and rescind such rules and regulations as, in its opinion, may be
advisable in the administration of the Plan, to construe and interpret the
Plan, its rules and regulations, and the instruments evidencing awards
granted under the Plan, and to make all other determinations deemed necessary
or advisable for the administration of the Plan.

 

(f)            The
Committee may delegate its authorities under the Plan to the Chief Executive
Officer of the Company with respect to awards to Employees other than policy
making officers of the Company.

 

2

 

(g)           All
decisions, determinations and interpretations of the Committee or its
authorized delegate shall be binding on all persons.

 

3.             Bridge Awards Subject to the
Plan

 

Bridge
Awards may be granted under the Plan to Participants for an aggregate of not
more than $100,000,000.

 

4.             Eligibility

 

Persons who shall be eligible to have Bridge
Awards granted to them shall be such Employees as the Committee, in its
discretion, shall designate from time to time.

 

5.             Payment of Bridge Awards

 

Bridge Awards shall be paid to a
Participant in a cash lump sum within two and one-half months following the end
of the applicable Incentive Period, except as provided in Section 7.

 

6.             Withholding

 

The Company or its Subsidiaries shall,
to the extent required by law, have the right to deduct from payments of any
kind otherwise due to the recipient the amount of any federal, state or local
taxes required by law to be withheld with respect to the amounts earned under
the Plan.

 

7.             Termination of Employment or
Leave of Absence

 

Termination of employment with the
Company or its Subsidiaries prior to the end of the Incentive Period for any
reason (whether voluntary or involuntary) shall result in forfeiture of all
opportunity to receive the Bridge Award applicable to that Incentive Period under
the Plan, subject to the following exceptions. 
In the event of termination during an Incentive Period under circumstances
which render the Participant eligible for severance benefits from the Company (and
provided the Participant has executed a release agreement), the Participant
shall be eligible to receive payment of the Bridge Award for that and any
subsequent Incentive Period covered by the Award Agreement within 2-1/2 months
following such termination of employment. 
In the event of termination during an Incentive Period by reason of death,
the Participant (or the Participant’s beneficiary or estate in the event of
death) will be eligible to receive a pro rata Bridge Award for that Incentive
Period based on the time employed during that Incentive Period, rounded to the
nearest complete month, within 2-1/2 months following the date of death.

 

The Committee shall also have discretion
to reduce the amount of a Bridge Award on a pro rata basis to reflect periods
of time during an Incentive Period when Participant is on a leave of absence of
more than sixty (60) days.

 

3

 

Notwithstanding these or any other
provisions of the Plan, the Committee may, in its sole discretion, authorize payment
of all or a portion of a Bridge Award which would otherwise be forfeited.

 

8.             Designation of Beneficiaries

 

A Participant may designate a
beneficiary or beneficiaries to receive, in the event of the Participant’s
death, all or part of the amounts to be distributed to the Participant under
the Plan.  A designation of beneficiary
may be replaced by a new designation or may be revoked by the Participant at
any time.  A designation or revocation
shall be on a form to be provided for such purpose and shall be signed by the
Participant and delivered to the Company prior to the Participant’s death.  Any amount that is distributable to a
Participant upon death and is not subject to such a designation shall be
distributed to the Participant’s estate. 
If there shall be any question as to the legal right of any beneficiary
to receive a distribution under the Plan, the amount in question may be paid to
the estate of the Participant, in which event the Company shall have no further
liability to anyone with respect to such amount.

 

9.             Employee Rights

 

A Participant may not assign or transfer
his or her rights under the Plan, except as expressly provided under the Plan,
and any attempt to do so will invalidate those rights.

 

No Employee has a claim or right to be a
Participant in the Plan, to continue as a Participant, or to be granted Bridge
Awards under the Plan.  The Company and
its Subsidiaries are not obligated to give uniform treatment to Participants.  Participation in the Plan does not give a
Participant the right to be retained in the employment of the Company or its
Subsidiaries, nor does it imply or confer any other employment rights.  Nothing contained in the Plan will be
construed to create a contract of employment with any Participant.  Nothing contained in the Plan will be deemed
to require the Company or its Subsidiaries to deposit, invest or set aside
amounts for the payments of any Bridge Awards, nor will anything be deemed to
give any Participant any ownership, security, or other rights in any assets of
the Company or its Subsidiaries.  The Bridge Award is a one-time, special award
which is not part of basic compensation or earnings for any purpose, including
without limitation the calculation of pension, 401(k) or other retirement
benefits.

 

10.          Section 409A

 

The Plan is intended to be exempt
from the provisions of Section 409A of the Code and shall be interpreted
accordingly.  However,
if the Company determines that payment of a Bridge Award is subject to Section 409A,
then notwithstanding any provision to the contrary in the Plan or an Award
Agreement, the following provisions shall apply:

 

If the Participant becomes eligible to
receive payment upon termination of employment pursuant to Section 7,
payment shall be made within 2-1/2 months following “separation from service”
(as defined under Section 409A of the Code); provided, however, that if
the Company also determines that the Participant is a “specified employee” (as
defined under 

 

4

 

Section 409A of the Code) at the
time of such separation from service, payment shall be delayed until six months
and one day following separation from service (or if earlier, the Participant’s
death) if the Company determines that such delayed payment is required in order
to avoid a prohibited distribution under Section 409A(a)(2) of the
Code.

 

11.          Amendment, Suspension or
Termination of the Plan

 

(a)           The
Board may at any time amend, suspend or terminate the Plan as it deems advisable.

 

(b)           No
Bridge Award may be granted during any suspension or after the termination of
the Plan, and no amendment, suspension or termination of the Plan shall,
without the Participant’s consent, alter or impair any rights or obligations
under any Bridge Award previously made under the Plan.

 

(c)           The
effectiveness of the Plan is conditioned on the closing of the Transaction.   If the Transaction is not consummated, the
Plan and any Bridge Awards hereunder shall be null and void.

 

12.          Applicable Law and Validity

 

The Plan shall be governed by and
construed in accordance with the laws of the State of California and the
Code.  In the event any provision of the
Plan is held invalid, void, or unenforceable, the same shall not affect, in any
respect whatsoever, the validity of any other provision of the Plan.

 

IN WITNESS WHEREOF, the undersigned has
executed this UnionBanCal Corporation Bridge Plan, at San Francisco,
California, on this 18th day of September, 2008.

 

 

	
   

  	
  UNIONBANCAL CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Paul E. Fearer

  
	
   

  	
   

  	
    Name: Paul E. Fearer

  
	
   

  	
   

  	
    Title: Director of Human Resources

  

 

5

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