Document:

exv10w9

 

Exhibit 10.9

RealNetworks, Inc.

2007 DIRECTOR COMPENSATION STOCK PLAN

     1. Introduction. The Real Networks, Inc. 2007 Director Compensation Stock Plan (the “Plan”),
a sub-plan under the Real Networks, Inc. 2005 Stock Incentive Plan (the “2005 SIP”), provides a
method for the outside directors of RealNetworks, Inc. (the “Company”) to participate in the
ownership of the Company through ownership of shares of the Company’s common stock. The Plan is a
continuation of the Real Networks, Inc. Director Compensation Stock Plan (the “Prior Plan”) as in
effect prior to the effectiveness of the Plan as provided in Section 10.

     2. Definitions. In addition to the terms defined in the 2005 SIP, the terms set forth below
shall have the following meanings for purposes of the Plan:

          2.1 “Annual Retainer Fee” means the annual fee payable to a Nonemployee Director for his or
her services on the Board.

          2.2 “Committee Chairperson Retainer Fee” means the annual fee, if any, payable to a
Nonemployee Director for serving as a chairperson of the Audit Committee, the Compensation
Committee, the Nominating and Corporate Governance Committee, or such other committee of the Board
for which a chairperson may be appointed and designated by the Board from time to time as being
eligible to receive the Committee Chairperson Retainer Fee.

          2.3 “Director Service Fees” means, collectively, the Annual Retainer Fee, the Committee
Chairperson Retainer Fee and the Meeting Attendance Fees.

          2.4 “Compensation Dates” means the last day of each calendar quarter in a calendar year on
which the Company’s executive offices are open for business and on which trading is conducted on
the NASDAQ Stock Market (or such other national securities exchange on which the Shares are
listed).

          2.5 “Meeting Attendance Fees” means fees payable to a Nonemployee Director for attendance at
meetings of the Board or committees of the Board.

          2.6 “Nonemployee Director” means a member of the Board who is not an employee of the Company
or any Subsidiary.

          2.7 “Plan Year” means the 12-month period commencing February 1 and ending on the following
January 31. Notwithstanding the foregoing, the Plan Year that commenced on February 1, 2007 shall
be considered to be a continuation of that Plan Year under the Prior Plan.

     3. Participation. Each Nonemployee Director shall be eligible to participate in the Plan.

     4. Election to Receive Shares in Lieu of Director Service Fees. Prior to the first day of
each Plan Year, each Nonemployee Director may make an election to receive all or a portion

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of his or her Director Service Fees for such Plan Year in Shares (a “Share Election”) in lieu of
cash. Such Shares shall be transferred in accordance with Section 5 hereof. Any Share Election
shall be made in such form and manner as the Company may specify from time to time, shall specify
the percentage of the Director Service Fees to be paid in Shares, and shall be irrevocable for the
Plan Year for which the Stock Election is made. Notwithstanding the foregoing, any Nonemployee
Director who is newly elected or appointed to the Board after the first day of a Plan Year must
make the election under this Section within 30 days after becoming a Director with respect to the
percentage of the Director Service Fees that are payable for the remainder of that Plan Year. Each
election must be made by the Director by filing an election form with the Secretary of the Company.
If a Director does not file an election form for each Plan Year by the specified date, the
Director will be deemed to have elected to receive the Director Service Fees in the manner elected
by the Director in his or her last valid election. Any person who becomes a Director during a Plan
Year and does not file the required election within 30 days will be deemed to have elected to
receive all of the Director Service Fees in cash. When an election is made for a Plan Year, the
Director may not revoke or change that election.

     5. Transfer of Shares. Shares issuable to a Nonemployee Director pursuant to Section 4 hereof
shall be determined and transferred to such Nonemployee Director on the Compensation Dates as
follows:

     (a) The number of Shares to be issued to a Nonemployee Director on any Compensation Date in
respect of the Annual Retainer Fee shall equal one-fourth of the amount of the Annual Retainer Fee
to be paid in Shares (as elected by the Nonemployee Director) for the Plan Year divided by the Fair
Market Value of a Share on the Compensation Date.

     (b) The number of Shares to be issued to a Nonemployee Director on any Compensation Date in
respect of the Committee Chairperson Retainer Fee shall equal one-fourth of the amount of the
Committee Chairperson Retainer Fee to be paid in Shares (as elected by the Nonemployee Director)
for the Plan Year divided by the Fair Market Value of a Share on the Compensation Date, provided
that the Nonemployee Director has served as Chairperson of the Committee during the quarter to
which the Committee Chairperson Retainer Fee relates; and

     (c) The number of Shares to be issued to a Nonemployee Director on any Compensation Date in
respect of the Meeting Attendance Fees shall equal the amount of the Meeting Attendance Fees to be
paid in Shares (as elected by the Nonemployee Director) for the quarter during which the meetings
being compensated were held and attended by the Nonemployee Director divided by the Fair Market
Value of a Share on the Compensation Date.

     6. Fractional Shares. No fraction of a Share will be issued by virtue of a Share Election
made by a Nonemployee Director, but in lieu thereof, a Nonemployee Director who would otherwise be
entitled to a fraction of a share shall receive an amount of cash (rounded to the nearest whole
cent) equal to the product of such fraction multiplied by the Fair Market Value of a Share on the
applicable Compensation Date.

     7. Holding Period. Unless the Committee otherwise determines, Shares issued to a Nonemployee
Director pursuant to Section 5 hereof may not be sold, pledged, assigned, encumbered or otherwise
transferred or disposed of by the Nonemployee Director for a period of one year from the date of
issuance of such shares.

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     8. Legends. Each certificate representing Shares issued under the Plan shall, unless the
Committee otherwise determines, contain on its reverse a legend in form substantially as follows,
together with any other legends that are required by law, the terms and conditions of the Plan or
that the Committee in its discretion deems necessary or appropriate:

THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A MINIMUM
HOLDING PERIOD AS DESCRIBED IN THE COMPANY’S 2007 DIRECTOR COMPENSATION STOCK
PLAN AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, OR ANY
STATE SECURITIES LAWS. THESE SECURITIES MAY NOT BE OFFERED, SOLD,
TRANSFERRED, ENCUMBERED, OR OTHERWISE DISPOSED OF WITHOUT AN EFFECTIVE
REGISTRATION STATEMENT FOR SUCH SHARES UNDER THE ACT AND APPLICABLE STATE
SECURITIES LAWS, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT
REGISTRATION IS NOT REQUIRED UNDER THE ACT AND APPLICABLE STATE SECURITIES
LAWS.

     The Company may cause the transfer agent for the Shares to place a stop transfer order with
respect to such Shares.

     9. Rights as a Shareholder. A Nonemployee Director shall have no rights as a shareholder of
the Company with respect to any Shares to be issued under the Plan until he or she becomes the
holder of record of such Shares.

     10. Effectiveness. The Plan is effective as of June 25, 2007.

     11. Amendment; Termination. The Board or the Committee may at any time and from time to time
alter, amend, or terminate the Plan in whole or in part; provided, however, that no such action
shall, without the consent of a Nonemployee Director, affect the rights of such Nonemployee
Director in any Shares previously issued to such Nonemployee Director under the Plan.

     12. Rights of Directors. Nothing contained in the Plan shall confer upon any Nonemployee
Director any right to continue in the service of the Company as a director.

     13. Nontransferability. The rights and benefits under the Plan shall not be transferable by a
Nonemployee Director other than by the laws of descent and distribution.

     14. Headings. The headings of sections herein are included solely for convenience of
reference and shall not affect the meaning of any of the provisions of the Plan.

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Exhibit 10.4

Natural Resource Partners

Long-Term Incentive Plan

Phantom Unit with DERs Agreement

     AGREEMENT made as of February [     ], 200[   ] between GP Natural Resource Partners LLC, a
Delaware limited liability company (the “Company”), and                                                              (“Employee”).

     To carry out the purposes of the Natural Resource Partners Long-Term Incentive Plan (the
“Plan”), by affording Employee the opportunity to receive cash payments based on the Fair Market
Value of the Common Units (“Units”) of Natural Resource Partners L.P. (the “Partnership”), the
Company and Employee hereby agree as follows:

	1.	 	Grant of Phantom Units with DERs.

	 	(a)	 	General. The Company hereby grants to Employee
___ Phantom Units
pursuant to the Plan. This grant of Phantom Units also includes a grant of tandem DERs
with respect to each Phantom Unit. The Company shall establish a DER bookkeeping
account with respect to each Phantom Unit (“DER Account”) that shall be credited with
an amount equal to any cash distributions made by the Partnership on a Unit during the
period such tandem Phantom Unit is outstanding. This grant is subject to the terms and
conditions of the Plan, which is incorporated herein by reference as a part of this
Agreement. A copy of the Plan is attached hereto. In the event of any conflict
between the terms of this Agreement and the Plan, the Plan shall control. Capitalized
terms used in this Agreement but not defined herein shall have the meanings ascribed to
such terms in the Plan, unless the context requires otherwise.
	 
	 	(b)	 	Vesting. Except as otherwise provided in Paragraph 2 hereof, all
Phantom Units and DERs granted hereunder shall vest in accordance with Schedule
A hereto.

	2.	 	Events Occurring Prior to Vesting.

	 	(a)	 	Death or Disability. If, prior to vesting, Employee ceases to be an
employee of the Company and its Affiliates as a result of death or disability (within
the Company’s policy or determination thereof), all unvested Phantom Units and DERs
granted hereunder then held by Employee will automatically become fully vested upon
such termination.
	 
	 	(b)	 	Other Terminations. If Employee terminates from the Company and its
Affiliates for any reason other than death or disability as provided in (a) above, all
unvested Phantom Units and DERs granted hereunder then held by Employee shall be
automatically forfeited upon such termination.

 

 

	 	(c)	 	Change in Control. Notwithstanding any other provision hereof,
immediately prior to the occurrence of a Change in Control all Phantom Units and DERs
granted hereunder then held by Employee shall become fully vested.

	3.	 	Payment. As soon as administratively practicable and not later than 30 days after
the vesting of a Phantom Unit and its tandem DER, Employee shall receive from the Company, in
cancellation of such Phantom Unit and DER, a cash payment equal to the sum of (i) the Fair
Market Value of a Unit on the payment date and (ii) the amount of cash then credited to the
DER Account with respect to such Phantom Unit.

	4.	 	Limitations Upon Transfer. All rights under this Agreement shall belong to Employee
and may not be transferred, assigned, pledged, or hypothecated in any way (whether by
operation of law or otherwise), other than by will or the laws of descent and distribution or
pursuant to a “qualified domestic relations order” (as defined by the Internal Revenue Code of
1986, as amended), and shall not be subject to execution, attachment, or similar process.
Upon any attempt to transfer, assign, pledge, hypothecate, or otherwise dispose of such rights
contrary to the provisions in this Agreement, or the Plan, or upon the levy of any attachment
or similar process upon such rights, such rights shall immediately become null and void.

	5.	 	Withholding of Tax. To the extent that the grant, vesting or payment of a vested
Phantom Unit or DER results in the receipt of compensation by Employee with respect to which
the Company or Affiliate has a withholding obligation, the Company or Affiliate shall withhold
such amount from any payment otherwise due under this Agreement.

	6.	 	Binding Effect. This Agreement shall be binding upon and inure to the benefit of any
successor or successors of the Company or upon any person lawfully claiming under Employee.

	7.	 	Modification. Except to the extent permitted by the Plan, any modification of this
Agreement will be effective only if it is in writing and signed by each party whose rights
hereunder are affected thereby.

	8.	 	Governing Law. This Agreement shall be governed by, and construed in accordance
with, the laws of the State of Delaware, without regard to conflicts of laws principles
thereof.

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     IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly
authorized officer, and Employee has executed this Agreement, all effective as of the day and year
first above written.

	 	 	 	 	 	 	 
	 	 	GP NATURAL RESOURCE PARTNERS LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name: Corbin J. Robertson, Jr.
	 	 
	 

	 	 	 	Title: Chairman and Chief Executive Officer	 	 
	 
	 	 	 	 	 	 
	 	 	EMPLOYEE	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 

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Schedule A

	 	 	 
	Units Granted	 	Vesting Date
	 

	 	 

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