Document:

awcex101.htm

Exhibit 10.1

Date

Name

Street Address

City, State Zip Code

Dear Name:

American Woodmark Corporation (the “Company”) has granted to you an award of restricted stock units (the “Award”).  Your Award is subject to the terms set forth in this letter and in the 2011 Non-Employee Directors Equity Ownership Plan (the “Plan”), a copy of which is attached.  Capitalized terms that are not defined in this letter shall have the meaning assigned to them under the Plan.

The terms of your Award are as follows:

	
I.  

	
In consideration of your agreements contained in this letter, the Company hereby grants you ____ restricted stock units (RSU’s). Each RSU represents the right to receive one share of the voting common stock of the Company.

	
II.  

	
Your Award carries the following provisions:

	
A.  

	
The Award will mature on ________ (the “Maturity Date”).  Except as provided below, in order to fully vest in the Award, you must be a member of the Board of Directors of the Company on the Maturity Date and must have provided continuous service as a member of the Board of Directors from ______ (the “Award Date”) through the Maturity Date.

	
B.  

	
In the event your service on the Board of Directors of the Company ends prior to the Maturity Date, you will vest in a pro-rated portion of the Award.  The number of shares that vest will be determined by dividing the number of days between the Award Date and your separation date, by the number of days between the Award Date and the Maturity Date, and multiplying by the number of RSUs contained in the Award.  Your right to the remaining unvested shares will be forfeited at the time of your separation.

	
C.  

	
Notwithstanding Sections II.A. or B. to the contrary, in the event a Change of Control occurs at any time before the Maturity Date, you will immediately vest in your right to receive the full amount of the Award if you are a member of the Company’s Board of Directors on the date of the Change of Control and have provided continuous service as a member of the Board of Directors from the Award Date through the date of the Change of Control.

For purposes of this Section C, “Change of Control” means any of the following:

  

  

  

	 	
  (i)

	
The acquisition by any unrelated person of beneficial ownership (as that term is used for purposes of the Securities Exchange Act of 1934) of 50% or more of the then outstanding shares of common stock of the Company or the combined voting power of the then outstanding securities of the Company entitled to vote generally in the election of directors.  The term “unrelated person” means any person other than (x) the Company and its Subsidiaries, (y) an employee benefit plan or trust of the Company or its Subsidiaries, and (z) a person who acquires stock of the Company pursuant to an agreement with the Company that is approved by the Board in advance of the acquisition, unless the acquisition results in a Change of Control pursuant to subsection (ii) below.  For purposes of this subsection, a “person” means an individual, entity or group, as that term is used for purposes of the Act.

	
  

	
(ii)

	
Any tender or exchange offer, merger or other business combination, sale of assets or any combination of the foregoing transactions, and the Company is not the surviving corporation.

	
  

	
(iii)

	
A liquidation of the Company.

	
III.  

	
Timing of the Company’s payment of your Award will vary, as follows:

	
  

	
A.

	
If you continuously serve as a director of the Company through the Maturity Date, Award payment will occur as soon as administratively practicable (within 60 days) after the Maturity Date.

	
  

	
B.

	
If you separate from the Company’s service as a director before the Maturity Date, payment of the vested portion of the Award will occur as soon as administratively practicable (within 60 days) after your separation date.

	
  

	
C.

	
If you become fully vested in your right to receive the Award because of a Change of Control that occurs before the Maturity Date, payment of the Award will occur as soon as administratively practicable (within 60 days) after the earlier of (i) your separation from service as a director of the Company for any reason on or after the date of the Change of Control or (ii) the Maturity Date.

	
IV.  

	
Any distributions on the Award as defined herein will be made with a certificate of common shares.

	
V.  

	
This Award is not transferable by you except by will or by the laws of descent and distribution.

	
VI.  

	
In the event of changes in the structure of the Company, appropriate adjustments to the Award will be made according to the Plan.

	
VII.  

	
In consideration of the grant of this Award, you agree that you will comply with such lawful conditions as the Board of Directors or the Compensation Committee may impose on the Award.

	
VIII.  

	
This Award agreement does not constitute a contract for services nor does it guarantee you the right to remain in the service of the Company as a director or otherwise for any length of time.

	
IX.  

	
Until the RSUs are converted into actual shares of the Company’s stock, your Award will not convey actual rights normally accruing to shareholders, including but not limited to the right to participate in shareholder votes or the right to receive dividends.

Attached to this letter is the following: (1) a second copy of this letter, (2) a copy of the Plan, and (3) the Company’s most recent Annual Report.  Please sign the second copy of this letter and return it to ___________, ____________, American Woodmark Corporation, 3102 Shawnee Drive, Winchester, VA 22601, to acknowledge your acceptance of the terms of this Award and receipt of the foregoing documents.

  

  

  

Your signature and return of a copy of this letter shall be deemed as your understanding and acceptance to the terms and conditions pertaining to this Award as outlined in this letter and the attached Plan.

American Woodmark Corporation

(By: ____________________________)

Chairman and Chief Executive Officer

Agreed to:

By ____________________________INTU Exhibit 10.01 10.31.2011

Exhibit 10.01
INTUIT
P.O. Box 7850
Mountain View, CA 94039-7850
http://www.intuit..com/careers

March 31, 2004

Laura Fennell
_ _ _ _ _ _ _ _ _ _
_ _ _ _ _ _ _ _ _ _

Dear Laura,
On behalf of the Intuit team, it is with great pleasure that I extend to you this formal offer of employment, to join us in the position of Vice President, General Counsel, in Mountain View, California reporting directly to Brad Henske, Senior Vice President and Chief Financial Officer. 
We have all been impressed and excited by your talents, energy and experience, and are excited about the prospect of you joining our team.
This offer will remain open until close of business, Friday, April 2, 2004. The terms of our offer are as follows: 
START DATE
You and Brad will agree on your first day of employment with Intuit (“Start Date”).
BASE COMPENSATION
For your services, you will be paid an annual base salary of $350,000.00, payable in bi-weekly installments and in accordance with Intuit's standard payroll practices.
ANNUAL PERFORMANCE BONUS ELIGIBILITY
You will be eligible to participate in Intuit's Performance Incentive Plant (“IPI”), a cash incentive compensation program beginning with Intuit's August 1, 2004 to July 31, 2005 fiscal year. The IPI bonus measurement cycle is the same as Intuit's fiscal year. Your target percentage under the IPI for Intuit's 2005 fiscal year ending July 31, 2005 will be 40% of your base salary. Payouts under the IPI are tied to the achievements of Intuit and individual performance and are made to individuals who are employed on the date the IPI payment is made. The actual amount of your award, if any, will be determined in accordance with the terms and conditions outlined in the IPI plan document. 

PAYMENT OF LOST STOCK BONUS
You have informed us that your current employer Sun Microsystems, Inc. agreed to pay you a bonus of $135,000.00 for stock options you were unable to exercise due to business conditions. If as a result of you resigning your employment with Sun Microsystems and accepting employment with Intuit, Sun Microsystems does not pay all or any part of this bonus, Intuit will pay you a special one-time bonus amount equal to $135,000.00 less any amount of the stock bonus Sun Microsystems actually pays you. To receive this payment from Intuit, you must provide Brad Henske with documentation that confirms you will not receive all or part of the stock bonus from Sun Microsystems or such other supporting documentation acceptable to Intuit.
If you resign prior to your first anniversary of employment with Intuit, you agree to repay a prorated portion of the payment back to Intuit. To determine the amount to be repaid, Intuit will take the total amount and reduce it by one-twelfth for every complete month of service after your Start Date.
EQUITY
Subject to approval by the Compensation and Organizational Development Committee of Intuit's Board of Directors or its designee, you will be granted a nonqualified stock option to purchase 50,000 shares of Common Stock of Intuit Inc. These options will be granted to you on your Start Date. The exercise price per share will be equal to the closing price of Intuit's Common stock on the Nasdaq National Market on the date of grant. If, however, that is not a trading day, the exercise price per share will be the closing price on the last trading day preceding your Start Date. The options will be subject to the terms of the Intuit Inc. 2002 Equity Incentive Plan. The options will vest over three years, as to 33-1/3% of the option shares twelve months from the date of the grant, and as to an additional 2.778% of the option shares monthly thereafter for the next two years, provided you remain employed on the vesting date. The option will have a maximum term of seven years.
INSURANCE
You will be eligible to participate in Intuit's group health, life and dental insurance plans. Your benefits will be effective on the first day of the month coincident with or following your Start Date.
VACATION
You will accrue three weeks of vacation during your first year of employment.
SICK DAYS
You will be granted 40 hours each calendar year for use in the event of personal illness. Your sick leave will accrue at the rate of 1.54 hours per pay period (bi-weekly).
PERFORMANCE/SALARY REVIEWS
Performance and salary reviews are conducted at least once per fiscal year. Your first salary review is scheduled for August 2005.

BACKGROUND CHECK
This offer, and your employment, is contingent on Intuit's verification of background information, even if you should begin employment before completion of Intuit's background check.
CONFIDENTIALITY
This letter confirms our understanding that you are not subject to any employment agreement that would preclude us from offering this position to you or you joining our organization. This also confirms that you will not be asked to disclose to us or utilize any confidential or proprietary information from your prior places of employment, and that you understand that you must not do so. In addition, you will agree to execute and abide by a non-disclosure agreement as a condition of employment.
WORK AUTHORIZATION
Federal law requires Intuit to document an employee's authorization to work in the United States. To comply, Intuit must have a completed Form I-9 for you within three business days of your Start Date. You agree to provide Intuit with documentation required by the Form I-9 to confirm you are authorized to work in the United States. You understand and agree that if you do not comply with this requirement by close of business on the third business day following your Start date, you will be placed on unpaid leave for up to five days to comply. You further understand and agree that failure to provide the necessary documentation by the end of the leave of absence period will result in termination of employment.
This letter also confirms the understanding that employment at Intuit is at the mutual consent of you and Intuit, and is at will in nature and can be terminated at anytime by yourself or Intuit.
This letter constitutes the entire agreement between you and Intuit and supersedes any and all prior agreement between the parties regarding employment. 

Please review these terms and make sure they are consistent with your understanding. If so, please sign and date both copies of this letter and confirm your planned start date. The original of this letter is for your records.
If you have any questions, please feel free to contact me at (650) 944-2690.
We look forward to you joining the Intuit team.
Sincerely,
/s/  MICHAEL McNEAL
Michael McNeal
Director of Talent Acquisition

AGREED and ACCEPTED:
/s/  LAURA FENNELL                               05/12/04
Laura Fennell                                  Date
Start Date: 04/28/04     (Revised from May 3, 2004)

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