Document:

Form of Restricted Stock Agreement

 Exhibit 10(p) 
 RICHARDSON ELECTRONICS, LTD. 
 EMPLOYEES’ INCENTIVE COMPENSATION PLAN AGREEMENT 

RESTRICTED STOCK AWARD 
 AGREEMENT
NO. RSA-            -             
 THIS RESTRICTED STOCK AWARD AGREEMENT (the “Agreement” or the “Stock Award”) made and entered into as of the     th day of
            ,          (the “Grant Date”), by and between Richardson Electronics, Ltd., a Delaware corporation (the
“Company”), and                      (the “Grantee”) under and pursuant to the Employees’ Incentive Compensation Plan
(the “Plan”). 
 Except where the context otherwise requires, all capitalized terms which are not defined herein shall have the
meaning set forth in the Plan. 
 The parties agree as follows: 
 1. Grant of Stock Award. In consideration of the services to be rendered to the Company (or its Subsidiaries) by the Grantee and upon the determination made by the Stock Option Committee of the Board of
Directors of the Company that the Grantee is a key employee, the Company hereby grants to the Grantee              shares of the Common Stock, $.05 par value, of the Company (the
“Shares”), upon and subject to the terms and conditions set forth herein, including, without limitation, the vesting schedule set forth in Section 3 below. 
 2. Acknowledgment by Grantee. The Grantee hereby acknowledges: 
 (a) that he has had an opportunity to
review a copy of the Plan and has received and has had the opportunity to review a copy of the Company’s “Employees’ Incentive Compensation Plan” and copies of any 10-K’s and 8-K’s of the Company filed subsequent to the
date of the Summary of the Plan and, Annual Reports, Proxy Statements and other communications distributed to stockholders of the Company subsequent to the date of the Summary of the Plan; and 
 (b) that any questions pertaining to the Plan and to the Shares have been answered by the Company to his or her satisfaction; and 
 (c) that he understands that the Plan is incorporated herein by reference and is made a part of this Agreement as if fully set forth herein; and

 (d) that the Plan shall control in the event that there is any conflict between the Plan and this Agreement, and on such matters as are
not contained in this Agreement. 
 3. Vesting of Stock Awards. 
 (a) This Stock Award shall vest: 

			
	  
	  	              

	  
	  	  

	  
	  	  

	  
	  	  

	  
	  	  

 (b) Notwithstanding the foregoing vesting schedule, in the event that the Grantee’s employment with
the Company terminates as a result of his (a) death, (b) disability, (c) retirement after both attaining the age of 65 years and having been employed by the Company for 15 years or more. Further, upon termination of Grantee’s
employment with the Company in any other event, without the Company giving notice to the Grantee that the Award and all Shares still subject to the Award and unvested pursuant to the schedule set forth above are vested, the Grantee’s Stock
Award with respect to all unvested Shares shall be forfeited and the Grantee shall have no rights with respect to such Award or Shares. For purposes of this Agreement a transfer of employment between the Company and any Subsidiary or among
Subsidiaries, shall not be deemed a termination of employment. 
 (c) Anything to the contrary notwithstanding, the Compensation/Stock Option
Committee of the Board of Directors of the Company shall have the right, in its sole discretion, to forfeit the Grantee’s right to all or any portion of the non-vested Shares (as determined pursuant to the schedule set forth in paragraph
(a) above) if it determines that the Grantee is not satisfactorily performing the duties which were assigned to the Grantee on the Grant Date or duties of at least equal responsibility. In the event that the Stock Option Committee makes such
determination, a written notice of forfeiture, which shall specify the reason for forfeiting the Stock Award granted hereunder to the extent that it is not vested, shall be sent to the Grantee at the Grantee’s most recent place of residence as
indicated in the Company’s personnel records. 
 4. Stock Certificates. 
 (a) Upon grant of a Stock Award, the Company will cause a certificate or certificates representing the Shares to be registered in the name of the Grantee.
Such certificate(s) shall bear the following legend: 
 “The shares represented by this certificate have been issued pursuant to the
terms of a Restricted Stock Award made under the Employees’ Incentive Compensation Plan and may not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of until such time as is set forth in that certain Restricted Stock
Agreement between Richardson Electronics, Ltd. and the shareholder.” 
 (b) Immediately upon receipt of the certificate or certificates
representing the Shares, the Grantee hereby agrees to deposit such certificates, together with stock powers and other instruments of transfer, appropriately endorsed in blank, with the Company or an escrow agent designated by the Company under an
escrow agreement in such form as shall be determined by the Stock Option Committee. If such certificates are deposited with the Company, the Company may transfer such certificates to an escrow agent at any time in its sole discretion. 
 (c) At such time as any number of the Shares are no longer subject to the restrictions, terms, and conditions of this Agreement (the “Unrestricted
Shares”), the Compensation/Stock Option Committee shall cause a new certificate to be delivered to the Grantee, without the legend set forth above, for the Unrestricted Shares. The Shares remaining subject to this Agreement shall either be
canceled or, if appropriate, shall continue to be held by the Company or held in escrow subject to the restrictions, terms, and conditions of this Agreement. 
 (d) In the event that a Grantee becomes entitled to receive any new, additional, or different securities by virtue of a stock dividend, stock split, recapitalization, reorganization, merger, consolidation, split-up,
or any similar change affecting the Shares (“Other Securities”), such Other Securities shall be subject to the restrictions, terms and conditions of this Agreement as if they were Shares, including, without limit, deposit with the Company
or in escrow. 
 5. Stockholder Rights. During the term of this Agreement, the Grantee shall be entitled to receive all dividends paid
on the Shares, to vote all Shares, and to enjoy all other stockholder rights, except that 

 
the Grantee shall neither (i) be entitled to the delivery of any certificate evidencing Shares and/or Other Securities except as provided in
Section 4 above nor (ii) be able to sell, assign, transfer, pledge, hypothecate or otherwise dispose of the Shares and/or Other Securities until such time as he or she has received a certificate evidencing such shares. 
 6. Effect of Certain Changes. In the event that the number of outstanding shares of the Common Stock of the Company shall be changed through the
declaration of stock dividends or through a recapitalization which results in stock splits or reverse stock splits, the number of Shares available for issuance under the Plan shall be appropriately adjusted, as determined by the Company, to reflect
any increase or decrease in the number of issued shares of Common Stock; provided, however, that any fractional shares resulting from such adjustment shall be eliminated to give proper effect to such changes. 
 7. Awards are Non-Transferable. This Stock Award may not be assigned, transferred, pledged, or hypothecated in any way whether by operation of law
or otherwise (except for the laws of descent and distribution). The Shares may be received (to the extent vested) only by the Grantee (or in the event of the Grantee’s incompetency by the Grantee’s legal representative) during the
Grantee’s lifetime. After the Grantee’s death, any Shares (to the extent vested) which have not been previously delivered to the Grantee shall be distributed to his or her designated Beneficiary or, in the absence of such designation, to
the Grantee’s legal representative. 
 8. No Guarantee of Employment. Nothing in this Agreement shall be deemed or construed in
any manner to constitute a contract of employment between the Company and the Grantee and shall not affect the right of the Company to terminate the employment of the Grantee. 
 9. Withholding. The Company shall have the right to require the Grantee to remit to the Company or to withhold from other amounts due the Grantee
as compensation or otherwise, including any Cash Bonus granted as part of this Stock Award, in an amount sufficient to satisfy all applicable withholding taxes. 
 10. Beneficiaries. The Grantee may designate the person or persons (collectively the “Beneficiary”) who, in the event of the death of the Grantee, may receive the Shares (to the extent vested) held by
the Grantee at the time of his or her death. All Beneficiary designations shall be in writing, shall be signed by the Grantee, and shall be effective only when filed with the Stock Option Committee. In the event that the Grantee fails to designate a
Beneficiary or that none of his or her Beneficiaries survive the Grantee, the legal representative of the Grantee may receive the Grantee’s vested Shares to the same extent as a Beneficiary. A Beneficiary designation may be changed at any time
and from time to time by the Grantee; provided, however, that any such change shall become effective only when filed with the Stock Option Committee. 
 11. Miscellaneous. 
 (a) This Agreement contains all of the undertakings and understandings between
the Company and the Grantee regarding the subject matter of the Stock Award. No oral or unwritten undertaking or understandings exist with regard to this Option and if claimed or believed by any person to exist shall be disregarded and shall not be
relied upon for any purpose. No modification or amendment of any of the terms of this Agreement shall be valid unless in writing and no such writing shall be binding on the Company unless it is signed by its Chairman, President or one of its Vice
Presidents and attested by its Secretary or Assistant Secretary. Subject to the limitations set forth in the Plan, the Board of Directors, unilaterally, may amend this Agreement as it may from time to time determine (such as to accelerate the
vesting of Shares) provided that such amendment does not impair or adversely alter the rights of the Grantee. 
 (b) Anything to the contrary
notwithstanding, the provisions of the Plan shall be incorporated herein and made a part hereof and shall govern and control to the extent of any inconsistency between the Plan and this Agreement and on such matters as are not contained in this
Agreement. 
 (c) This Agreement shall be governed by and construed in accordance with the laws of the State of Illinois. 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized corporate
officers, and the Grantee has hereunto set his or her hand and seal, all as of the date and year first above written. 
  

							
		    	RICHARDSON ELECTRONICS, LTD.
			
		    	By:	 	  

		    	Its:	 	Chairman	 	
	ATTEST:	    		 		 	
				
	  
	    		 		 	
	Secretary	    	
		    	Grantee:3rd Amendment to Revolving Credit Agreement

 Exhibit 10(s)(iii) 
 Execution 
 THIRD AMENDMENT TO REVOLVING CREDIT AGREEMENT 
 This Third Amendment to Revolving Credit Agreement (this “Amendment”) is entered into as of July 29, 2008 (the “Effective
Date”) by and among Richardson Electronics, Ltd., a Delaware corporation, Richardson Electronics Limited, an English limited liability company, Richardson Electronics Benelux B.V., a Dutch private limited liability company, Richardson
Electronics Pte Ltd, a company organized under the laws of Singapore, Richardson Electronics Pty Limited, a company organized under the laws of New South Wales, Australia, the lenders party hereto (each, a “Lender” and collectively,
the “Lenders”) and JP Morgan Bank, N.A., a national banking association as administrative agent (in such capacity, the “Administrative Agent”). 
 RECITALS 
 WHEREAS, the Borrowers, the Lenders and the Agent are parties
to that certain Revolving Credit Agreement dated as of July 27, 2007 (as amended or modified from time to time, the foregoing being referred to as the “Agreement”); 
 WHEREAS, the Borrowers, the Lenders and the Agent desire to amend the Agreement in certain respects on terms and conditions set forth herein; 

NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, the parties hereto agree as follows: 
 1. Defined Terms. Capitalized terms used herein but not defined herein shall have the meanings ascribed thereto in the Agreement. 
 2. Amendments to the Agreement. The Agreement is hereby amended as follows: 
 (a) Section 1.1 of the Agreement is hereby amended to add a new definition of “Goodwill Impairment Charge” as follows and to delete in its entirety the definition of “Leverage Ratio” contained
therein and to replace said definitions as follows: 
 “‘Goodwill Impairment Charge’” means a non-cash charge for
the reduction in goodwill (within the meaning of Agreement Accounting Principles) of the US-Borrower presented in a certificate provided to the Administrative Agent by the Chief Financial Officer of the US-Borrower recognized solely in respect of
the US-Borrower’s fiscal period ended May 31, 2008 and in an amount not in excess of $11,500,000.” 
 “‘Leverage
Ratio’ means, as of any date of calculation, the quotient of (i) Senior Funded Debt outstanding on such date, over (ii) Adjusted EBITDA calculated for the US-Borrower and its consolidated Subsidiaries for the period of the
trailing four consecutive fiscal quarters ending on or most recently ended prior to such date of determination; provided, that 

 
with respect to the fiscal quarter ended June 2, 2007, December 1, 2007, March 1, 2008 and May 31, 2008, there shall be added
to Adjusted EBITDA the sum of relevant Identified Charges and any Goodwill Impairment Charge, which Goodwill Impairment Charge shall be recognized solely in respect of the US-Borrower’s fiscal period ended May 31, 2008.” 

3. Effectiveness. This Amendment shall become effective when the Administrative Agent has received all of the following acknowledged to be satisfactory
by the Administrative Agent: 
 (a) This Amendment, executed by the requisite signatories; 
 (b) A certificate, signed by the chief executive officer of Richardson Electronics, Ltd. substantially in the form of Exhibit I attached hereto and made
a part hereof, stating that on the Effective Date (after giving effect to this Amendment) no Default or Unmatured Default has occurred and is continuing and further certifying that the representations and warranties contained in Article 5 of the
Agreement are true and correct on and as of the Effective Date, together with a certification of the validity and accuracy of the Goodwill Impairment Charge; 
 (c) The representations and warranties contained in Section 4 of this Amendment shall be true and correct in all material respects; and 
 (d) Such other documents, instruments or approvals (and, if requested by the Administrative Agent, certified duplicates of executed copies thereof) as
the Administrative Agent may reasonably request. 
 4. Representations and Warranties. Each Borrower represents and warrants to the Lenders and
the Administrative Agent (which representations and warranties shall become part of the representations and warranties made by such Borrower under the Agreement) that: 
 (a) The execution, delivery and performance of this Amendment has been duly authorized by all necessary action and will not require any consent or approval of any person or entity, violate in any material respect any
provision of any law, rule, regulation, order, writ, judgment, injunction, decree, determination or award presently in effect having applicability to it or constitute a default under any indenture or loan or credit agreement or any other agreement,
lease or instrument to which any Borrower is a party or by which it or its properties may be bound or affected; 
 (b) No consent, approval
or authorization of or declaration or filing with any governmental authority or any non-governmental person or entity, including without limitation, any creditor or partner of any Borrower is required on the part of such Borrower in connection with
the execution, delivery and performance of this Amendment or the transactions contemplated thereby and the execution, delivery and performance of this Amendment and the transactions contemplated hereby will not violate the terms of any contract or
agreement to which such Borrower is a party; 
 (c) The Agreement, as amended hereby, is the legal, valid and binding obligation of each
Borrower, enforceable against it in accordance with the terms thereof; 
  

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 (d) The most recent financial statements of each Borrower delivered to the Lenders are complete and
accurate in all material respects and present fairly the financial condition of such Borrowers as of such date in accordance with generally accepted accounting principles. There has been no adverse material change in the condition of the business,
properties, operations or condition, financial or otherwise, of any Borrower since the date of such financial statements which has or could reasonably be expected to have a Material Adverse Effect in respect of the US-Borrower or its Subsidiaries;
and 
 (e) After giving effect to this Amendment and the transactions contemplated hereby, no Default or Event of Default has occurred or
exists under the Agreement as of the Effective Date hereof. 
 5. Acknowledgement and Reaffirmation; No Waiver. Each Borrower hereby ratifies
and affirms all of the obligations and undertakings contained in the Agreement and the Agreement remains in full force and effect in accordance with its terms. Each Borrower and each Guarantor hereby acknowledges, agrees and affirms that each
document and instrument securing or supporting the obligations and indebtedness owing to the Lenders and Administrative Agent prior to the date of this Amendment remains in full force and effect in accordance with its terms, and that such security
and support remains in full force effect as to all obligations under the Agreement. 
 6. Expenses. The Borrowers jointly and severally agree
to pay and save the Lenders and Administrative Agent harmless from liability for the payment of all costs and expenses arising in connection with this Amendment, including the reasonable fees and expenses of Baker & McKenzie LLP, counsel to
the Administrative Agent and certain of the Lenders, in connection with the preparation and review of this Amendment and any related documents. 
 7.
Governing Law. This Amendment shall be governed by, and shall be construed and enforced in accordance with, the laws of the State of Illinois. 
 8. Counterparts; Facsimile. This Amendment may be executed in one or more counterparts, each of which together shall constitute the same agreement. One or more counterparts of this Amendment may be delivered by facsimile, with
the intention that such delivery shall have the same effect as delivery of an original counterpart thereof. 
 [The remainder of this page has
been left blank intentionally] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of
the date first written above. 
  

			
	BORROWERS:
	
	RICHARDSON ELECTRONICS, LTD.
	
	 /s/ Edward J. Richardson

	By:	 	Edward J. Richardson
	Title:	 	Chairman, CEO and President
	
	RICHARDSON ELECTRONICS LIMITED
	
	 /s/ Thomas Harbrecht

	By:	 	Thomas Harbrecht
	Title:	 	Director
	
	RICHARDSON ELECTRONICS BENELUX B.V.
	
	 /s/ Thomas Harbrecht

	By:	 	Thomas Harbrecht
	Title:	 	Managing Director A
	
	RICHARDSON ELECTRONICS PTE LTD
	
	 /s/ Thomas Harbrecht

	By:	 	Thomas Harbrecht
	Title:	 	Director
	
	RICHARDSON ELECTRONICS PTY LIMITED
	
	 /s/ Thomas Harbrecht

	By:	 	Thomas Harbrecht
	Title:	 	Director
	
	40 W267 Keslinger Road
	P.O. Box 393
	LaFox, Illinois 60147-0393
	Attention: Michelle Perricone
	Tel: 630-208-2200
	Fax: 630-208-2950

  

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	GUARANTOR
	
	THE UNDERSIGNED, EACH A GUARANTOR OF THE OBLIGATIONS UNDER THE AGREEMENT, BEING FAMILIAR WITH THE TERMS OF THE FOREGOING AMENDMENT, HEREBY RATIFIES AND REAFFIRMS ALL SUCH
OBLIGATIONS, IN EACH CASE AS SET FORTH IN THOSE CERTAIN GUARANTIES, DATED JULY 27, 2007
	
	RICHARDSON ELECTRONICS, LTD.
	
	 /s/ Edward J. Richardson

	By:	 	Edward J. Richardson
	Title:	 	Chairman, CEO and President
	
	RICHARDSON INTERNATIONAL, INC.
	
	 /s/ Edward J. Richardson

	By:	 	Edward J. Richardson
	Title:	 	President

  

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	ADMINISTRATIVE AGENT:
	
	JPMORGAN CHASE BANK, N.A.,
	
	 /s/ Michelle Otten

	By:	 	Michelle Otten
	Title:	 	Assistant Vice President

  

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	LENDERS:
	
	JPMORGAN CHASE BANK, N.A.,
	
	 /s/ Michelle Otten

	By:	 	Michelle Otten
	Title:	 	Assistant Vice President
	
	JP MORGAN EUROPE LIMITED
	
	 /s/ M J Hereidge

	By:	 	M J Hereidge
	Title:	 	Vice President
	
	JP MORGAN CHASE BANK, N.A. London Branch, as Overdraft Lender
	
	 /s/ M J Hereidge

	By:	 	M J Hereidge
	Title:	 	Vice President
	
	JPMORGAN CHASE BANK, N.A., through its Singapore Branch
	
	 /s/ Ruth Lee

	By:	 	Ruth Lee
	Title:	 	Vice President

  

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 EXHIBIT I 
 OFFICER’S CERTIFICATE 
 This Certificate is delivered to JPMorgan Chase Bank, N.A., as Administrative
Agent by Richardson Electronics, Ltd., pursuant to that certain Revolving Credit Agreement, dated as of July 27, 2007 among the Borrowers named therein, the Lenders set forth on the signature pages thereto and the Administrative Agent
identified therein (as amended or modified from time to time, the “Credit Agreement”). All capitalized terms used herein but not defined shall have the respective meanings ascribed thereto in the Credit Agreement. The undersigned,
the duly appointed Chief Financial Officer of Richardson Electronics, Ltd., hereby certifies to the Administrative Agent and the Lenders that on the date hereof (i) no Default or Unmatured Default has occurred and is continuing, (ii) that
all the representations and warranties contained in Article V of the Credit Agreement are true and correct on and as of the date hereof, and (iii) the Goodwill Impairment Charge shall be recognized as a non-cash charge in accordance with
Agreement Accounting Principles and shall be recognized solely in respect of the US-Borrower’s fiscal period ended May 31, 2008. 
 This Certificate is delivered as of July 29, 2008. 
  

			
	 /s/ Kathleen Dvorak

	By:	 	Kathleen Dvorak

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