Document:

Exhibit 10.60

 

MXENERGY
HOLDINGS INC.

2010
STOCK INCENTIVE PLAN

 

 

Restricted
Stock Unit Award Agreement: Non-Employee Directors

 

 

You are hereby awarded
Restricted Share Units (the “RSUs”) subject to the terms and conditions
set forth in this Restricted Share Unit Award Agreement (the “Award
Agreement” or “Award”), and in the MXenergy Holdings Inc. 2010 Stock
Incentive Plan (the “Plan”).  A
copy of the Plan is attached as Exhibit A.  Terms beginning with initial capital letters
within this Agreement have the special meaning defined in the Plan (or in this
Award Agreement, if defined herein).

 

This
Award is conditioned on your execution of this Award Agreement within 20
(twenty) days after the Grant Date specified in Section 1 below.  By executing this Award Agreement, you will be
irrevocably agreeing that all of your rights under this Award will be
determined solely and exclusively by reference to the terms and conditions of
the Plan, subject to the provisions set forth below.  As a result, you should not
execute this Award Agreement until you have (i) carefully considered the
terms and conditions of the Plan and this Award, and (ii) consulted with
your personal legal and tax advisors about all of these documents.

 

1.                                       Specific Terms. 
Your RSUs have the following terms:

 

	
  Name
  of Participant

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Number
  of RSUs Subject to Award

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Purchase
  Price per Share (if applicable)

  	
   

  	
  Not
  applicable.

  
	
   

  	
   

  	
   

  
	
  Grant
  Date

  	
   

  	
                        ,
  20  .

  
	
   

  	
   

  	
   

  
	
  Vesting

  	
   

  	
  Your
  Award will vest with respect to one-fourth (1/4) of the number of RSUs
  designated above on the Grant Date, and an additional one-fourth of such
  number on each of April 1, 2010, July 1, 2010, and October 1,
  2010 (each a “Vesting Date”) , provided that your Continuous Service
  has not ended before the particular Vesting Date.

  
	
   

  	
   

  	
   

  
	
  Accelerated
  Vesting

  	
   

  	
  You
  will become 100% vested in this Award if there is a Change in Control or if
  your Continuous Service ends due to your death or your Disability.

  
	
   

  	
   

  	
   

  
	
  §83(b) Elections

  	
   

  	
  Allowed
  pursuant to Section 7(d) of the Plan, using the Election attached
  hereto as Exhibit B.

  
	
   

  	
   

  	
   

  
	
  Deferral
  Elections

  	
   

  	
  Allowed
  pursuant to Section 7(e) of the Plan.

  
	
   

  	
   

  	
   

  
	
  Recapture
  and Recoupment

  	
   

  	
  Section 14
  of the Plan shall not apply re Termination, Rescission, and Recapture of this
  Award.  

   

  Section 15
  shall apply re Recoupment of this Award.

  

 

 

2.                                       Termination of Continuous
Service.  This Award shall be canceled and become
automatically null and void immediately after termination of your Continuous
Service for any reason, but only to the extent you have not become vested,
pursuant to terms of Section 1 above, on or before your Continuous Service
ends.

 

3.                                       Settlement through
Issuance of Shares.  No Shares will be issued
before you complete the requirements that are necessary for you to vest in the
Shares underlying your RSUs.  The Company
will issue to you or your duly-authorized transferee, free from vesting
restrictions (but subject to such legends as the Company determines to be
appropriate), one Share for each vested RSU, as soon as practicable after the
later of —

 

(a)                                  the date on which your RSUs vest in whole
or in part, or

 

(b)                                 the distribution date or dates set forth
in your deferral and distribution election forms (if allowed under Section 1
and made by you using the form attached hereto as Exhibit C);

 

provided that the
number of Shares issued to you shall be reduced by a number of Shares having a
Fair Market Value equal to the par value per Share issued (as payment
thereof).  Certificates shall not be
delivered to you unless and until all applicable conditions of this Award have
been satisfied, including any employment and tax-withholding obligations.

 

4.                                       Conditions on Issuance of
Shares; Transfer; Restrictions.  Notwithstanding any other provision of the
Plan or of this Award Agreement, your receipt of Shares pursuant to this Award
shall be contingent on your becoming a party to the Company’s
stockholders agreement, Class C Voting agreement and registration rights
agreement, as each such document is then in effect.

 

5.                                       Dividends. 
You shall have Dividend Equivalent Rights with respect to this Award,
and Section 10 of the Plan shall accordingly determine your right to
collect any cash dividends or Share dividends that are declared and paid to the
holders of Shares between the Grant Date and each vesting or deferred
settlement date upon which you are entitled to receive Shares to settle this
Award.  To the extent that your
Continuous Service ends before full vesting of the RSUs subject to this Award,
you will forfeit all cash and Share-based dividends that are attributable to
all of your non-vested RSUs.

 

6.                                       Designation of Beneficiary. 
Notwithstanding anything to the contrary contained herein or in the
Plan, following the execution of this Award Agreement, you may expressly
designate a death beneficiary (the “Beneficiary”) to your interest, if any, in
this Award and any underlying Shares. 
You shall designate the Beneficiary by completing and executing a
designation of beneficiary agreement substantially in the form attached hereto
as Exhibit D  (the “Designation
of Death  Beneficiary”) and delivering an executed copy of the
Designation of Beneficiary to the Company. 
To the extent you do not duly designate a beneficiary who survives you,
your estate will automatically be your beneficiary.

 

7.                                       Restrictions on Transfer
of Award.
Your rights under this Award Agreement may not be sold, pledged, or otherwise
transferred without the prior written consent of the Committee.

 

8.                                       Taxes. 
You acknowledge that you shall be solely responsible for the satisfaction
of any applicable taxes that may arise pursuant to this Award (including taxes
arising under Code Section 409A (regarding deferred compensation) or 4999
(regarding golden parachute excise 

 

 

taxes), and that neither the Company nor the Administrator shall have
any obligation whatsoever to pay such taxes or to otherwise indemnify or hold
you harmless from any or all of such taxes. 
The Committee shall have the sole discretion to interpret the
requirements of the Code, including Section 409A, for purposes of the Plan
and this Award Agreement.

 

9.                                       Not a Contract of
Employment.  By executing this Award Agreement you
acknowledge and agree that (i) nothing in this Award Agreement or the Plan
confers on you any right to continue an employment, service or consulting
relationship with the Company, nor shall it affect in any way your right or the
Company’s right to terminate your employment, service, or consulting
relationship at any time, with or without Cause; and (ii) the Company
would not have granted this Award to you but for these acknowledgements and
agreements.

 

10.                                 Investment Purposes. By executing this Award, you represent
and warrant to the Company that any Shares issued to you pursuant to your RSUs
will be for investment for your own account and not with a view to, for resale
in connection with, or with an intent of participating directly or indirectly
in, any distribution of such Shares within the meaning of the Securities Act of
1933, as amended.

 

11.                                 Securities Law
Restrictions.  Regardless of whether the offering and sale
of Shares under the Plan have been registered under the Securities Act of 1933,
as amended (the “Securities Act”), or have been registered or qualified under
the securities laws of any state, the Company at its discretion may impose
restrictions upon the sale, pledge or other transfer of such Shares (including
the placement of appropriate legends on stock certificates or the imposition of
stop-transfer instructions) if, in the judgment of the Company, such
restrictions are necessary or desirable in order to achieve compliance with the
Securities Act or the securities laws of any state or any other law or to
enforce the intent of this Award.

 

12.                                 Headings.  Section and
other headings contained in this Award Agreement are for reference purposes
only and are not intended to describe, interpret, define or limit the scope or
intent of this Award Agreement or any provision hereof.

 

13.                                 Severability. 
Every provision of this Award Agreement and of the Plan is intended to
be severable.  If any term hereof is
illegal or invalid for any reason, such illegality or invalidity shall not
affect the validity or legality of the remaining terms of this Award Agreement.

 

14.                                 Counterparts. 
This Award Agreement may be executed by the parties hereto in separate
counterparts, each of which when so executed and delivered shall be an
original, but all such counterparts shall together constitute one and the same
instrument.

 

15.                                 Notices. 
Any notice or communication required or permitted by any provision of this
Award Agreement to be given to you shall be in writing and shall be delivered
electronically, personally, or sent by mail, addressed to you at the last
address that the Company had for you on its records.  Each party may, from time to time, by notice
to the other party hereto, specify a new address for delivery of notices
relating to this Award Agreement.  Any
such notice shall be deemed to be given as of the date such notice is
personally or electronically delivered or properly mailed.

 

16.                                 Binding Effect. 
Except as otherwise provided in this Award Agreement or in the Plan,
every covenant, term, and provision of this Award Agreement shall be binding
upon and inure to the benefit of the parties hereto and their respective heirs,
legatees, legal representatives, successors, transferees, and assigns.

 

 

17.                                 Modifications. 
This Award Agreement may be modified or amended at any time, in
accordance with Section 18 of the Plan and provided that you must consent
in writing to any modification that adversely and materially affects any rights
or obligations under this Award Agreement.

 

18.                                 Plan Governs. 
By signing this Award Agreement, you acknowledge that you have received
a copy of the Plan and that your Award Agreement is subject to all the
provisions contained in the Plan, the provisions of which are made a part of
this Award Agreement and your Award is subject to all interpretations,
amendments, rules and regulations which from time to time may be
promulgated and adopted pursuant to the Plan. 
In the event of a conflict between the provisions of this Award
Agreement and those of the Plan, the provisions of the Plan shall control.

 

19.                                 Governing Law. 
The laws of the State of Delaware shall govern the validity of this
Award Agreement, the construction of its terms, and the interpretation of the
rights and duties of the parties hereto.

 

BY
YOUR SIGNATURE BELOW, along with the signature of the Company’s representative,
you and the Company agree that this Award is made under and governed by the
terms and conditions of this Award Agreement and the Plan.

 

	
   

  	
  MXENERGY HOLDINGS INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  PARTICIPANT

  
	
   

  	
   

  
	
   

  	
  The undersigned
  Participant hereby accepts the terms of this Award Agreement and the Plan.

  
	
   

  	
   

  	
   

  
	
   

  	
  Signature:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Printed Name of Participant:

  	
   

  
					

 

 

Exhibit A

 

MXENERGY HOLDINGS INC.

2010 STOCK INCENTIVE PLAN

 

 

Plan Document

 

 

 

Exhibit B

 

MXENERGY HOLDINGS INC.

2010 STOCK INCENTIVE PLAN

 

 

Section 83(b) Election
Form

 

 

IF
YOU WISH TO MAKE A SECTION 83(b) ELECTION, THERE ARE TWO CRITICAL
REQUIREMENTS, PARTICULARLY:

 

·                  YOUR ELECTION MUST
BE FINAL WITHIN 30 DAYS AFTER THE GRANT DATE 
SET FORTH IN YOUR RSU AWARD AGREEMENT, AND

 

·                  BEFORE MAKING YOUR
ELECTION, YOU MUST HAVE RECEIVED RESTRICTED SHARES PURSUANT TO SECTION 7(d) OF
THE PLAN. The Company will accept any form of written notice by which you
direct that Restricted Shares be issued pursuant to Section 7(d) of
the Plan

 

If you receive Restricted Shares, you will remain subject to the terms,
restrictions, and conditions of the underlying RSU Award Agreement.  Such terms, restrictions, and conditions
shall continue in effect until your Restricted Shares have become fully vested
and replaced with unrestricted Shares.

 

Attached
is an Internal Revenue Code Section 83(b) Election Form.  In order to make the election, you must
completely fill out the attached form and file one copy with the Internal
Revenue Service office where you file your tax return.  In addition, one copy of the statement also
must be submitted with your income tax return for the taxable year in which you
make this election.  Finally, you also
must submit a copy of the election form to the Company within 10 days after
filing that election with the Internal Revenue Service.  A Section 83(b) election normally
cannot be revoked.

 

 

MXENERGY HOLDINGS INC.

2010 STOCK INCENTIVE PLAN

 

 

Election to Include Value of
Restricted Shares in Gross Income

in Year of Transfer Under
Internal Revenue Code Section 83(b)

 

 

Pursuant to Section 83(b) of the Internal
Revenue Code, I hereby elect within 30 days after receiving the property
described herein to be taxed immediately on its value specified in item 5
below.

 

1.                                      My General Information:

 

	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Address:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  S.S.N.

  	
   

  	
   

  
	
   

  	
  or T.I.N.:

  	
   

  	
   

  

 

2.                                      Description of the property with respect
to which I am making this election:

 

                                      shares
of
                      
stock of MXenergy Holdings Inc. (the “Restricted Shares”).

 

3.                                      The Restricted Shares were transferred to
me on
                            
      , 20    , pursuant to
an Award Agreement executed on
          
      , 20     (the “Award
Agreement”).  This election relates
to the 20         calendar taxable
year.

 

4.                                      The Restricted Shares are subject to the
restrictions set forth in the Award Agreement, and are generally are not
transferable until my interest becomes vested and non-forfeitable, pursuant
thereto.

 

5.                                      Fair market value:

 

The fair market
value at the time of transfer (determined without regard to any restrictions
other than restrictions which by their terms never will lapse) of the
Restricted Shares with respect to which I am making this election is
$           per share.

 

6.                                      Amount paid for Restricted Shares:

 

The amount I paid
for the Restricted Shares is $        
per share.

 

7.                                      Furnishing statement to employer:

 

A copy of this
statement has been furnished to my employer, MXenergy Holdings, Inc.  If the transferor of the Restricted Shares is
not my employer, that entity also has been furnished with a copy of this
statement.

 

8.                                      Award Agreement or Plan not affected:

 

 

Nothing contained
herein shall be held to change any of the terms or conditions of the Award
Agreement or the Plan.

 

 

Dated:
                        
    , 200 .

 

 

	
   

  	
   

  
	
   

  	
  Taxpayer

  

 

 

Exhibit C

 

MXENERGY HOLDINGS INC.

2010 STOCK INCENTIVE PLAN

 

 

Deferral and Distribution
Election

(if allowed under Section 1
of the RSU Award Agreement)

 

 

DEFERRAL
AND DISTRIBUTION ELECTION (the “Election”), made this
         day of 
          ,
          , by me, as the
undersigned participant in the above-referenced plan (the “Plan”) that
is sponsored by MXenergy Holdings, Inc. (the “Company”).

 

WHEREAS, I have received an Award of RSUs
pursuant to an Award Agreement dated
                
    , 2010 (my “2010 RSU Award”) that permits me to
make a deferral election pursuant to Section 7(e) of the Plan, and I
desire to make such an election subject to the terms and conditions hereof.

 

NOW,
THEREFORE, I
hereby elect as follows, and the Company agrees to be bound by the terms of my
elections herein effective immediately, provided that,
within 30 days after the Grant Date set forth in my 2010 RSU Award, I provide
an executive officer of the Company (other than myself) with an original copy
of my completed and fully-executed Election herein:

 

1.                                       Defined Terms. 
Terms beginning with initial capital letters within this Election have
the special meaning defined in the Plan or my 2010 RSU Award (or in this
Election for definitions set forth herein).

 

2.                                       Provisions Incorporated by
Reference.  The terms of Sections 3 through 19 of my 2010
RSU Award are incorporated herein by reference.

 

3.                                       Term of Election. 
This Election and the provisions of my 2010 RSU Award and the Plan
constitute the entire agreement between me and the Company regarding this
matter, and will continue in full force and effect until and unless I execute a
superseding distribution election pursuant to Section 8(c)(ii) of the
Plan.

 

4.                                       RSUs being Deferred. 
I hereby elect to defer the receipt of
            
percent (    %) of the Shares that would otherwise be
transferred to me more than 12 months after the date of this deferral election
(or upon my earlier death).  I understand
and recognize that pursuant to this Election, the Company agrees to credit me
on its books and records with DSUs pursuant to the terms and conditions of Section 8
of the Plan.

 

5.                                       Settlement of DSUs. 
The Company agrees to settle my DSUs through issuing unrestricted Shares
(with cash being paid in lieu of fractional Shares) in accordance with the  earliest  to occur of the
events determined pursuant to my elections in the following schedule:

 

 

	
  Event

  	
   

  	
  Form of Distribution

  	
   

  	
  Time of Distribution

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  o My
  Death

  	
   

  	
  o           One lump sum
  distribution.

   

  o           Substantially
  equal annual payments over a period of       
  years (up to 10).

  	
   

  	
  o           As soon as
  practicable.

   

  o           The next
  January 1st.

   

  o           Other:                        .

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  o My
  Disability

  	
   

  	
  o           One lump sum
  distribution.

   

  o           Substantially
  equal annual payments over a period of       
  years (up to 10).

  	
   

  	
  o           As soon as
  practicable.

   

  o           The next
  January 1st.

   

  o           Other:                        .

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  o My
  Other Separation from Service

  	
   

  	
  o           One lump sum
  distribution.

   

  o           Substantially
  equal annual payments over a period of       
  years (up to 10).

  	
   

  	
  o           As soon as
  practicable.

   

  o           The next
  January 1st.

   

  o           Other:                        .

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  o Change
  in Control

  	
   

  	
  o           One lump sum
  distribution.

   

  o           Substantially
  equal annual payments over a period of       
  years (up to 10).

  	
   

  	
  o           As soon as
  practicable.

   

  o           The next
  January 1st.

   

  o           Other:                        .

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  o Specified
  Date

  	
   

  	
  o           One lump sum
  distribution.

   

  o           Substantially
  equal annual payments over a period of       
  years (up to 10).

  	
   

  	
  Date:
                  
        ,       .

  

 

Note: the term “Separation from Service”
means the first to occur of a termination of your Continuous Service, or your “separation
from service” within the meaning of Code Section 409A and associated
rulings and regulations (with such separation being presumed to occur if based
on a 50% or more reduction in your service, as determined thereunder).

 

6.                                       Taxes. 
By signing this Election, you acknowledge that you shall be solely
responsible for the satisfaction of any taxes that may arise pursuant to this
Award (including taxes arising under Sections 409A or 4999 of the Code), and
that neither the Company nor any of its officers, directors, employees, or
other service providers shall have any obligation whatsoever to pay such taxes
or to otherwise indemnify or hold you harmless from any or all of such taxes.

 

The Committee shall nevertheless have the discretion (i) to
condition any issuance of Shares on my satisfaction of applicable employment
and withholding taxes; and (ii) to unilaterally interpret this Election in
any manner that (i) conforms with the requirements of Section 409A of
the Code, (ii) that modifies or voids any election of mine to the extent
it would violate Section 409A of the Code, and (iii) for any
distribution election that would violate Section 409A of the Code, that

 

2

 

defers distributions pursuant hereto until the
earliest to occur of a distribution event that is allowable under Section 409A
of the Code or any distribution event that is both allowable under Section 409A
of the Code and is duly elected by me.

 

7.                                       Effect of This Election. I recognize and agree that the Company
will honor the terms and conditions of this Election, subject to any provisions
of the Plan or my 2010 RSU Award that are not patently inconsistent herewith.

 

IN
WITNESS WHEREOF,
I have made this election on the day and year first above-written.

 

 

	
   

  	
  PARTICIPANT

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  My Signature:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  My Printed Name:

  	
   

  

 

3

 

Exhibit D

 

MXENERGY HOLDINGS INC.

2010 STOCK INCENTIVE PLAN

 

 

Designation of Death Beneficiary

 

 

In
connection with the Awards designated below that I have received pursuant to
the Plan, I hereby designate the person specified below as the beneficiary upon
my death of my interest in such Awards. 
This designation shall remain in effect until revoked in writing by me.

 

	
  Name of Beneficiary:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Social Security No.:

  	
   

  	
   

  

 

This
beneficiary designation relates to any and all of my rights under the following
Award or Awards:

 

o            any Award that I have received or ever receive under
the Plan.

 

o            the
                                  
Award that I received pursuant to an award agreement dated
                  
    ,         
between myself and the Company.

 

I
understand that this designation operates to entitle the above named beneficiary,
in the event of my death, to any and all of my rights under the Award(s) designated
above from the date this form is delivered to the Company until such date as
this designation is revoked in writing by me, including by delivery to the
Company of a written designation of beneficiary executed by me on a later date.

 

	
   

  	
  Date:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name of Participant

  

 

 

Sworn to before me this

       day
of
                        ,
200 

 

Notary Public

County of

State ofExhibit 10.1

 

SECOND AMENDMENT TO EMPLOYMENT AGREEMENT

 

This Amendment (the “Amendment”)
to the Employment Agreement, by and between Motorola, Inc. (“Motorola” or the “Company”) and Sanjay K. Jha  (the  “Executive”) dated August 4,
2008, as amended on December 15, 2008 (the “Employment
Agreement”), is effective as of February 11, 2010.
Capitalized terms used herein and not otherwise defined shall have the meanings
ascribed to such terms in the Employment Agreement.

 

1.             The second “WHEREAS” recital of the Employment Agreement is hereby
amended and restated in its entirety as set forth below:

 

WHEREAS, Motorola has announced a plan to create two
independent publicly traded companies, one of which would own (directly or
indirectly) MDB (the “Separation Event”);

 

2.             Section 3(a)(i) of
the Employment Agreement is hereby amended and restated in its entirety as set
forth below:

 

(i)  During the Employment Period and prior to
the occurrence of the Separation Event or any Other Transaction Event (the “Motorola Service Period”):  (A) the Executive shall serve as (1) the
Chief Executive Officer of MDB, (2) the Chief Executive Officer of the
Company’s Home businesses (“Home”) and (3) the
Co-Chief Executive Officer of Motorola in the Office of the Chief Executive
Officer (the “OC”), with such duties,
responsibilities and authority as are commensurate with such positions, reporting
directly to the Motorola Board, (B) (1) Motorola’s General Counsel, (2) Motorola’s
Chief Financial Officer, (3) the head of Motorola’s Supply Chain, (4) the
head of Motorola’s Public Affairs/Communications Department and (5) the
head of Motorola’s Human Resources Department (clauses (1) through (5),
the “Dual Reporting Group”) shall report
directly to the OC; provided, however, that (x) employees of
MDB and Home shall have direct line reporting relationships to the Executive or
his designees (including any applicable member of the Dual Reporting Group) and
(y) employees of Motorola’s business segments other than MDB and Home
shall have direct line reporting relationships to Motorola’s other Co-Chief
Executive Officer or his designees (including any applicable member of the Dual
Reporting Group) (items (x) and (y), together, the “Reporting
Rules”), (C) Motorola shall cause the Executive to be
elected to the Motorola Board as of the Commencement Date, and thereafter,
subject to Section 4(g), the Executive shall be nominated by Motorola to
remain on the Motorola Board, (D) Executive shall devote substantially all
of his business time, energies and talents to serving as Motorola’s Co-Chief
Executive Officer and the Chief Executive Officer of MDB and Home, perform his
duties subject to the lawful directions of the Motorola Board, and in
accordance with Motorola’s corporate governance and ethics guidelines, conflict
of interests policies, code of conduct and other written policies
(collectively, the

 

 

“Motorola Policies”), (E) the
Motorola Board (or such committee of the Motorola Board as the Motorola Board
shall duly designate) shall resolve any disagreement between Executive and
Motorola’s other Co-Chief Executive Officer, (F) in the event that
Executive becomes the sole Chief Executive Officer of Motorola, (1) he
shall continue to report directly to the Motorola Board, with such duties,
responsibilities and authority as are commensurate with such position, (2) the
Reporting Rules shall cease to apply, and (3) he shall devote substantially
all of his business time, energies and talents to serving as Motorola’s Chief
Executive Officer and shall perform his duties in accordance with the Motorola
Policies and (G) in the event that the Separation Event or an Other
Transaction Event does not occur on or prior to August 31, 2011, unless
the Parties agree otherwise in writing, (1) Executive’s employment with
the Company shall terminate, (2) such termination shall be treated as a
termination without Cause and (3) the other Co-Chief Executive Officer
shall become the sole Chief Executive Officer.

 

3.             Section 3(b)(iii)(H) of
the Employment Agreement is hereby amended by replacing the two references to “October 31,
2010” with the words “June 30, 2011.”

 

4.             The second to last sentence
of Section 3(b)(vii) of the Employment Agreement is hereby amended
and restated in its entirety as set forth below:

 

Relocation
expenses shall include without limitation temporary housing through the earlier
of (A) the date on which the Separation Event occurs and (B) June 30,
2011, and coverage for any loss on the sale of his current home in San Diego,
California.

 

5.             Section 3(b)(viii) of
the Employment Agreement is hereby amended and restated in its entirety as set
forth below:

 

(viii)  Additional Payment. Subject to
Executive’s continued employment with the Company through June 30, 2011,
if (A) the Separation Event has not occurred on or prior to June 30,
2011 or (B) the Company consummates an Other Transaction Event on or prior
to June 30, 2011, the Company shall pay to Executive $38 million (the “Additional Payment”) on July 15,
2011, to the extent not theretofore paid.

 

6.             Section 4(c)(vii) of
the Employment Agreement is hereby amended and restated in its entirety as set
forth below:

 

(vii)  the Separation Event or an Other
Transaction Event has not occurred on or prior to June 30, 2011;

 

7.             Section 5(a)(i)(D) of
the Employment Agreement is hereby amended and restated in its entirety as set
forth below:

 

(D)  if (1) the Separation Event has not
yet occurred, (2) Executive’s Date of Termination is on or prior to June 30,
2011 and (3) (x) the Company has terminated Executive without Cause
or (y) Executive has terminated employment for

 

2

 

Safe
Harbor Good Reason, the Additional Payment, to the extent not theretofore paid;
and

 

8.             Section 5(b)(i)(D) of
the Employment Agreement is hereby amended and restated in its entirety as set
forth below:

 

(D)  if (1) the Separation Event has not
yet occurred, (2) Executive’s Date of Termination is on or prior to June 30,
2011 and (3) (x) the Company has terminated Executive without Cause
or (y) Executive has terminated employment for Safe Harbor Good Reason,
the Additional Payment, to the extent not theretofore paid; and

 

9.             Notwithstanding anything to
the contrary contained in the Agreement, in no event shall Executive ceasing to
have any title, position, authority, duties or responsibilities with respect to
Home as a result of the occurrence of (a) the sale of Home, (b) an
Other Transaction Event or (c) a Separation Event in which Home is not
part of MDB Public constitute Good Reason or Safe Harbor Good Reason.  For the avoidance of doubt, a diminution in
Executive’s title with respect to Home or a material diminution in Executive’s
position, authority, duties or responsibilities with respect to Home, other
than as a result of the occurrence of (1) a sale of Home, (2) an
Other Transaction Event or (3) a Separation Event in which Home is not
part of MDB Public, shall constitute Good Reason and Safe Harbor Good Reason.

 

10.           Subject to Executive’s
employment with the Company on the date that the Company makes its annual
incentive awards (currently anticipated to be during May, 2010), and, subject
to approval by the Company Committee, Executive will receive a long range
incentive plan award, commensurate with Executive’s position with the Company.

 

11.           Exhibit D  to the
Employment Agreement shall be amended and restated in its entirety as set forth
on Exhibit D to this Amendment.

 

12.           Exhibit E  to the
Employment Agreement shall be amended and restated in its entirety as set forth
on Exhibit E to this Amendment.

 

13.           Except as expressly amended
by this Amendment, all terms and conditions of the Employment Agreement remain
in full force and effect and are unmodified hereby.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]

 

3

 

IN WITNESS WHEREOF, the parties have executed
or caused this Amendment to be executed as of the day and year first above
written.

 

 

	
   

  	
  SANJAY
  K. JHA

  
	
   

  	
   

  
	
   

  	
  /s/
  SANJAY K. JHA

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MOTOROLA,
  INC.

  
	
   

  	
   

  
	
   

  	
  /s/
  SAMUEL SCOTT

  
	
   

  	
  Name:

  	
  Samuel
  Scott

  
	
   

  	
  Title:

  	
  Chairman,
  Compensation

  
	
   

  	
   

  	
  and
  Leadership Committee

  

 

 

[SIGNATURE PAGE TO FEBRUARY 11, 2010 

AMENDMENT TO JHA EMPLOYMENT AGREEMENT] 

 

 

Exhibit D

 

The
number of shares of MDB Public Common Stock subject to the MDB Public Stock
Option (“Option Number”) shall equal the
product of (1) 0.9 and (2) the difference between (a) the Total
Grant Number minus (b) the Inducement
Grant Number.

 

“Total Grant Number” means the
product of (1) the Applicable Percentage and (2) the Shares
Outstanding.

 

“Applicable Percentage” means:

 

(1) if
the Market Capitalization is equal to or less than $6.0 billion, 3.0000%; and

 

(2) if
the Market Capitalization is greater than $6.0 billion, the product of (a) 3.0000%
and (b) the Applicable Ratio, with the Applicable Percentage expressed as
a percentage carried out to four decimal places; provided, however, that in no event will the Applicable Percentage be
below 1.8000%.

 

“Applicable Ratio” means the quotient
obtained by dividing (1) $6.0 billion by (2) the Market
Capitalization, with such ratio carried out to four decimal places.

 

“Shares Outstanding” means the number
of shares of MDB Public Common Stock actually outstanding immediately following
the Separation Event.

 

“Market Capitalization” means the
product of (1) the Shares Outstanding and (2) the MDB Average Closing
Price.

 

“MDB Average Closing Price” means the
average closing price of MDB Public Common Stock for the first fifteen trading
days following the Separation Event (including the closing price of MDB Public
Common Stock on the date of the Separation Event if the stock trades on that
date).

 

“Inducement Grant Number” means the
sum of (1) the number of shares of MDB Public Common Stock that would be
issuable under the Inducement Stock Option (based on the original number of
shares of Motorola Common Stock subject to the Inducement Stock Option on the
date of grant of the Inducement Stock Option) immediately following the
Separation Event and after giving effect to the adjustment contemplated by Section 3(b)(iii)(G) of
the Agreement and (2) the number of shares of MDB Public Common Stock
underlying the Inducement Restricted Stock Units (based on the original number
of shares of Motorola Common Stock underlying the Inducement Restricted Stock
Units on the date of grant of the Inducement Restricted Stock Units)
immediately following the Separation Event and after giving effect to the
adjustment contemplated by Section 3(b)(iii)(G) of the Agreement.

 

In
the event that, after the date of the Separation Event and prior to the
expiration of the first fifteen trading days following the Separation Event,
MDB Public changes the number of shares of MDB Public Common Stock issued and
outstanding as a result of a stock split, stock dividend, stock combination,
recapitalization, reclassification or reorganization, the provisions of this Exhibit D shall be equitably
adjusted to the extent necessary to reflect such transaction and to preserve
the intent of the parties to this Agreement.

 

 

Exhibit E

 

The
number of shares of MDB Public Common Stock underlying the MDB Public
Restricted Shares (“Restricted Shares Number”)
shall equal the product of (1) 0.1 and (2) the difference between (a) the
Total Grant Number minus (b) the
Inducement Grant Number.

 

“Total Grant Number” means the
product of (1) the Applicable Percentage and (2) the Shares
Outstanding.

 

“Applicable Percentage” means:

 

(1) if
the Market Capitalization is equal to or less than $6.0 billion, 3.0000%; and

 

(2) if
the Market Capitalization is greater than $6.0 billion, the product of (a) 3.0000%
and (b) the Applicable Ratio, with the Applicable Percentage expressed as
a percentage carried out to four decimal places; provided, however, that in no event will the Applicable Percentage be
below 1.8000%.

 

“Applicable Ratio” means the quotient
obtained by dividing (1) $6.0 billion by (2) the Market
Capitalization, with such ratio carried out to four decimal places.

 

“Shares Outstanding” means the number
of shares of MDB Public Common Stock actually outstanding immediately following
the Separation Event.

 

“Market Capitalization” means the
product of (1) the Shares Outstanding and (2) the MDB Average Closing
Price.

 

“MDB Average Closing Price” means the
average closing price of MDB Public Common Stock for the first fifteen trading
days following the Separation Event (including the closing price of MDB Public
Common Stock on the date of the Separation Event if the stock trades on that
date).

 

“Inducement Grant Number” means the
sum of (1) the number of shares of MDB Public Common Stock that would be
issuable under the Inducement Stock Option (based on the original number of
shares of Motorola Common Stock subject to the Inducement Stock Option on the
date of grant of the Inducement Stock Option) immediately following the
Separation Event and after giving effect to the adjustment contemplated by Section 3(b)(iii)(G) of
the Agreement and (2) the number of shares of MDB Public Common Stock
underlying the Inducement Restricted Stock Units (based on the original number
of shares of Motorola Common Stock underlying the Inducement Restricted Stock
Units on the date of grant of the Inducement Restricted Stock Units)
immediately following the Separation Event and after giving effect to the
adjustment contemplated by Section 3(b)(iii)(G) of the Agreement.

 

In
the event that, after the date of the Separation Event and prior to the
expiration of the first fifteen trading days following the Separation Event,
MDB Public changes the number of shares of MDB Public Common Stock issued and
outstanding as a result of a stock split, stock dividend, stock combination,
recapitalization, reclassification or reorganization, the provisions of this Exhibit E shall be equitably
adjusted to the extent necessary to reflect such transaction and to preserve
the intent of the parties to this Agreement.

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