Document:

exv4w3

 

Exhibit 4.3

RELIANCE STEEL & ALUMINUM CO.

FORM OF RESTRICTED STOCK AGREEMENT

     This Agreement is made and entered into as of the ___day of ___, 20___, by and between
Reliance Steel & Aluminum Co., a California corporation (the “Company”), and                                         
(“Participant”), relating to the grant and issuance of shares of common stock, no par value
(“Common Stock”), of the Company under the Reliance Steel & Aluminum Co. Amended and Restated Stock
Option and Restricted Stock Plan (the “Plan”). Capitalized terms used in this Agreement without
definition shall have the meanings ascribed to such terms in the Plan.

RECITALS

     A. The Company maintains the Plan, which is incorporated into and forms a part of this
Agreement;

     B. Pursuant to of the Plan, the Company desires to grant to Participant, and Participant
accepts the grant of, ___restricted shares of Common Stock (the “Restricted Shares”);

     C. Participant has been selected by the Committee (as defined in the Plan) to receive the
Restricted Shares pursuant to the Plan;

AGREEMENT

     NOW, THEREFORE, in consideration of the above promises and the mutual covenants and agreements
hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto have agreed, and do hereby agree, as follows:

ARTICLE 1

Issuance of Restricted Shares

     1.1 Grant. On the date hereof, pursuant to the Plan, the Company hereby grants and issues to
Participant, and Participant hereby accepts the grant of, the Restricted Shares (the “Award”),
subject to the terms and conditions hereof. The Restricted Shares are not fully vested as of the
date hereof, such Restricted Shares shall constitute “restricted shares” under Rule 144 of the
Securities Act of 1933, as amended, and shall be subject to all of the restrictions described
herein and in the Plan.

     1.2 Issuance and Escrow. Subject to the provisions of Section 3.4 hereof, the Restricted
Shares shall be evidenced by one or more certificates, which shall be held in custody by the
Company until the Restricted Shares vest and become Unrestricted Shares (as hereinafter defined) in
accordance with Section 2.1 hereof.

 

 

     1.3 Shareholder Status. Prior to the vesting of the Restricted Shares but only while
Participant remains an employee of the Company, Participant shall have the right to vote the
Restricted Shares, the right to receive and retain all regular cash or stock dividends paid or
distributed in respect of the Restricted Shares if the record date for such dividends is on or
after the date of this Agreement, and except as expressly provided otherwise herein, all other
rights as a holder of outstanding shares of the Company’s Common Stock.

ARTICLE 2

Lapse of Restrictions

     The Restricted Shares shall cease to be subject to the restrictions described herein, and
shall cease to constitute Restricted Shares (thereafter being referred to as “Unrestricted
Shares”), as set forth below:

     2.1 Vesting. Subject to the provisions of Section 2.2, the Restricted Shares shall cease to
constitute Restricted Shares and shall become Unrestricted Shares, pursuant to the following
vesting schedule:

	 	 	 
	[Date]	 	 
	[Performance
	 	Number of Restricted Shares That
	Goal]
	 	Vest
	 
	 	 

     If and to the extent that Restricted Shares do not vest in accordance with the foregoing, such
Restricted Shares shall be forfeited by Participant, and Participant shall have no further rights
with respect hereto. The Company shall cancel any and all forfeited Shares.

     2.2 Cessation of Employment. In the event that Participant ceases to be an employee of the
Company, any and all Restricted Shares held by Participant on the date of such cessation, if they
have not vested and become Unrestricted Shares, shall be immediately forfeited except as provided
in Section 9c of the Plan.

ARTICLE 3

Restrictions on Transfer

     3.1 Restricted Shares. Except as permitted in Section 3.3 hereof, until they vest, Restricted
Shares or any interest therein may not be directly sold, transferred, pledged, hypothecated, or
otherwise disposed of (whether by operation of law or otherwise) by Participant, or be subject to
execution, attachment or similar process. Any transfer in violation of this Section 3.1 shall be
void and of no further effect.

 

 

     3.2 Unrestricted Shares. All Unrestricted Shares shall be freely transferable, subject to
compliance with federal and state securities laws.

     3.3 Permitted Transfers. Restricted Shares shall not be transferable except by will or the
laws of descent and distribution; provided that they shall remain subject to the restrictions set
forth herein and in the Plan.

     3.4 Legend. The certificates representing the Restricted Shares will bear the following
legend:

“The securities represented by this certificate are subject to
certain restrictions on transfer and other agreements set forth in a
Restricted Stock Agreement, dated as of                     , 20___with the
Corporation (the “Restricted Stock Agreement”), copies of which may
be obtained at the principal executive office of the Corporation.
Any sale, transfer, pledge or other disposition in conflict with, or
in derogation of, the Restricted Stock Agreement are void and of no
legal force, effect or validity whatsoever.”

ARTICLE 4

Section 83(b) Election

     Participant understands that Section 83 of the Internal Revenue Code of 1986, as amended (the
“Code”), may tax as ordinary income the difference between the amount paid for the Restricted
Shares and the Fair Market Value of the Restricted Shares as of the date any restrictions on the
Restricted Shares lapse, in the absence of an 83(b) election. Participant understands that he or
she may elect to be taxed at the time of the grant of the Restricted Shares rather than when and as
restrictions on the Restricted Shares lapse by filing an election under Section 83(b) of the Code
with the Internal Revenue Service within thirty (30) days from the date hereof and by filing a copy
of such election with Participant’s tax return for the tax year in which the restrictions on the
Restricted Shares lapse. PARTICIPANT UNDERSTANDS THAT FAILURE TO MAKE THIS FILING IN A TIMELY
MANNER MAY RESULT IN THE RECOGNITION OF ORDINARY INCOME BY PARTICIPANT, WHEN AND AS THE
RESTRICTIONS ON THE RESTRICTED SHARES LAPSE, ON ANY DIFFERENCE BETWEEN THE PURCHASE PRICE, IF ANY,
AND THE FAIR MARKET VALUE OF THE RESTRICTED SHARES AT THE TIME SUCH RESTRICTIONS LAPSE.
PARTICIPANT ACKNOWLEDGES THAT IT IS PARTICIPANT’S SOLE RESPONSIBILITY AND NOT THE COMPANY’S TO
TIMELY FILE THE ELECTION UNDER
SECTION 83(b). PARTICIPANT ACKNOWLEDGES THAT HE OR SHE SHALL
CONSULT PARTICIPANT’S OWN TAX ADVISERS REGARDING THE ADVISABILITY OR NONADVISABILITY OF MAKING THE
ELECTION UNDER SECTION 83(b) OF THE CODE AND ACKNOWLEDGES THAT PARTICIPANT SHALL NOT RELY ON THE
COMPANY OR ITS ADVISERS FOR SUCH ADVICE. PARTICIPANT FURTHER ACKNOWLEDGES THAT SHOULD PARTICIPANT
FILE THE ELECTION UNDER

 

 

SECTION 83(b), PARTICIPANT WILL TIMELY DELIVER A COPY OF SUCH ELECTION TO
THE COMPANY.

ARTICLE 5

Miscellaneous

     5.1 Notices. Any notices, consents, or other communications to be sent or given hereunder by
any of the parties shall in every case be in writing and shall be deemed properly served if (a)
delivered personally, (b) sent by registered or certified mail, in all such cases with first class
postage prepaid, return receipt requested, or (c) delivered to a nationally recognized overnight
courier service, to the parties at the addresses set forth below:

	 	 	 	 	 
	 

	 	If to the Company:
	 	Reliance Steel & Aluminum Co.
	 

	 	 	 	350 South Grand Avenue, Suite 5100
	 

	 	 	 	Los Angeles, California 90071
	 

	 	 	 	Attention:                                         
	 

	 	 	 	Facsimile: (213) 687-8792
	 
	 	 	 	 
	 

	 	If to Participant:
	 	                                                            

or such other address or to the attention of such other person as the recipient party shall have
specified by prior written notice to the sending party. Date of service of such notice shall be
(w) the date such notice is personally delivered, (x) three (3) days after the date of mailing if
sent by certified or registered mail, or (y) one (1) day after date of delivery to the overnight
courier if sent by overnight courier.

     5.2 Employment. No provision of this Agreement or of the Restricted Shares granted hereunder
shall give the Participant any right to continued employment with the Company or any Affiliate,
create any inference as to the length of employment of the Participant, affect the right of the
Company or any Affiliate to terminate the employment of the Participant, with or without cause, or
give the Participant any right to participate in any employee welfare or benefit plan or other
program (other than the Plan) of the Company or any Affiliate.

     5.3 Governing Law. This Agreement and the Restricted Shares granted hereunder shall be
governed by, and construed and enforced in accordance with, the laws of the State of California
(other than its laws respecting choice of law).

     5.4 Entire Agreement. This Agreement and the Plan embody the complete agreement and
understanding among the parties, and supersede and preempt any prior understandings, agreements or
representations by or among the parties, written or oral, with respect to the subject matter
hereof.

     5.5 Counterparts. This Agreement may be executed in separate counterparts, each of which is
deemed to be an original and all of which taken together constitute one and the same instrument.

 

 

     5.6 Successors and Assigns. This Agreement is intended to bind and inure to the benefit of,
and be enforceable by, Participant and the Company and their respective successors and assigns
(including subsequent permitted holders of the Restricted Shares).

     5.7 No Strict Construction. The language used in this Agreement will be deemed to be the
language chosen by the parties hereto to express their mutual intent, and no rule of strict
construction will be applied against any party hereto.

     5.8 Remedies. Each of the parties to this Agreement will be entitled to enforce its rights
under this Agreement specifically, to recover damages by reason of any breach of any provision of
this Agreement and to exercise all other rights existing in its favor. Participant agrees and
acknowledges that money damages will not be an adequate remedy for any breach of the provisions of
this Agreement and that the Company shall be entitled to specific performance and injunctive relief
in order to enforce, or prevent any violations of, the provisions of this Agreement.

     5.9 Amendments and Waivers. To the extent permitted by the Plan, the Committee (as defined in
the Plan) may amend or waive any of the terms of the Award heretofore granted, prospectively or
retroactively, but no such amendment shall adversely affect the rights of Participant without
Participant’s consent.

     5.10 Severability. In the event that any provision of this Agreement is held to be invalid,
void or unenforceable, that provision shall be modified, if possible, to make it enforceable
consistent with the intent of the parties and the other provisions hereof shall remain in full
force and effect, provided that such modification does not substantially affect the purposes of
this Agreement and the intent of the parties hereto.

     5.11 Headings. The captions set forth in this Agreement are for convenience only and shall
not be considered as part of this Agreement or as in any way limiting the terms and provisions
hereof.

[Remainder of page intentionally left blank.

Signature page follows.]

 

 

     IN WITNESS WHEREOF, the parties have caused this Agreement to be effective as of the date
first written above.

	 	 	 	 	 	 	 
	 	 	RELIANCE STEEL & ALUMINUM CO.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 

	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Its:	 	 	 	 
	 

	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Participant	 	 
	 

	 	Name:exv10w25

 

Exhibit 10.25

XenoPort, Inc.

Term Sheet for Director Cash Compensation

     Effective immediately upon approval, the Board of Directors (the “Board”) of XenoPort, Inc., a
Delaware corporation (the “Company”), approved a policy regarding cash compensation for its
non-employee directors. The policy provides that:

	 	•	 	each non-employee director will receive $20,000 per year for service as a board
member;
	 
	 	•	 	the lead independent director of the Board will receive an additional $10,000
per year for service as lead independent director of the Board;
	 
	 	•	 	each non-employee director will receive an additional $2,000 for each Board
meeting attended in person ($1,000 for meetings attended by video or telephone
conference);
	 
	 	•	 	the chairman of the audit committee will receive an additional $10,000 per year
for service as chairman of the audit committee;
	 
	 	•	 	each member of the audit committee will receive $2,000 per committee meeting
attended in person (or by video or telephone conference);
	 
	 	•	 	the chairmen of each of the compensation committee and nominating and corporate
governance committee will each receive an additional $5,000 per year for service as
chairmen of the compensation and nominating and corporate governance committees;
and
	 
	 	•	 	each member of the compensation and nominating and corporate governance
committees will receive $500 per committee meeting attended in person (or by video
or telephone conference).

     All of the Company’s directors are reimbursed for out-of-pocket expenses incurred in attending
Board and committee meetings and for the reasonable expenses incurred by directors to attend
programs designed to provide continuing education regarding the appropriate role of directors in a
public company.

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