Document:

exv10w76

Exhibit 10.76

BURGER KING WORLDWIDE HOLDINGS, INC.

2011 OMNIBUS INCENTIVE PLAN

          Section 1: Purpose. The purpose of the Burger King Worldwide Holdings, Inc. 2011 Omnibus Incentive Plan, is to
enhance the incentive of those Persons who are expected to contribute significantly to the success
of the Company and its Affiliates to perform at the highest level, and, in general, to further the
best interests of the Company and its shareholders.

          Section 2: Definition.

     As used in the Plan, the following terms shall have the meanings set forth below:

     (a) “Act” shall mean the Securities Exchange Act of 1934, as amended.

     (b) “Affiliate” shall mean (i) any entity that, directly or indirectly, controls, is
controlled by or under common control with the Company and (ii) any entity in which the Company has
a significant equity interest, in either case as determined by the Committee.

     (c) “Award” shall mean any Option, Stock Appreciation Right, award of Restricted Stock,
Restricted Stock Unit, annual or long-term Performance Award, Investment Rights or Other Award
granted under the Plan, which may be denominated or settled in Shares, cash or in such other forms
as provided for herein.

     (d) “Award Agreement” shall mean any written agreement, contract or other instrument or
document evidencing any Award granted under the Plan, which may, but need not, be executed or
acknowledged by a Participant.

     (e) “Beneficiary” shall mean a person or persons entitled to receive payments or other
benefits or exercise rights that are available under the Plan in the event of the Participant’s
death. If no such person is named by a Participant, such individual’s Beneficiary shall be the
individual’s estate.

     (f) “BKC” shall mean Burger King Corporation, a Florida corporation and an indirectly wholly
owned Subsidiary of the Company, or any successor thereto.

     (g) “Board” shall mean the board of directors of the Company.

     (h) “Board Member Shareholders’ Agreement” shall mean the Board Member Subscription and
Shareholders’ Agreement entered into by the Company and a Participant who is a member of the Board
setting forth the terms and conditions applicable to any Shares purchased by or Transferred to such
Participant prior to an Initial Public Offering upon exercise of any Investment Rights or Option or
settlement of any Award with Shares, which agreement shall be in such form as the Committee shall
approve from time to time.

 

 

     (i) “Change in Control” shall mean the first to occur of any of the events under clause (i),
(ii), (iii), (iv) or (v), other than in connection with any public offering of equity securities of
the Company, BKC or any Parent:

          (i) any “person” (as defined in Section 13(d) of the Securities Exchange Act of 1934) other
than 3G, the Company, BKC, any Parent or Affiliate or an employee benefit plan or trust maintained
by the Company or its Affiliates, becomes the “beneficial owner” (as defined in Rule 13d-3 under
the Securities Exchange Act of 1934), directly or indirectly, of more than 75% of the combined
voting power of the Company’s then outstanding securities (excluding any “person” who becomes such
a beneficial owner in connection with a transaction described in paragraph (ii) below);

          (ii) the merger or consolidation of the Company, BKC, or any Parent with or into another
entity as a result of which Persons who were stockholders of the Company, BKC or any Parent, as the
case may be, immediately prior to such merger or consolidation, own immediately thereafter,
directly or indirectly, securities representing less than 25% of the combined voting power of all
then outstanding securities entitled to vote generally in the election of directors of the merged
or consolidated company;

          (iii) the liquidation or dissolution of the Company, BKC or any Parent, other than a
dissolution occurring upon a merger or consolidation of the Company, BKC or any Parent or a
liquidation of the Company, BKC or any Parent into the Company or any Parent, or any of their
respective Subsidiaries or Affiliates;

          (iv) the sale, transfer or other disposition of all or substantially all of the assets of the
Company, BKC or any Parent through one transaction or a series of related transactions to one or
more Persons that are not, immediately prior to such sale, transfer or other disposition, the
Company or any Parent or any of their respective Subsidiaries or Affiliates; or

          (v) 3G no longer having the ability to appoint 25% or more of the directors of the Company,
BKC or any Parent.

     (j) “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time.

     (k) “Committee” shall mean the Compensation Committee of the Board or such other committee as
may be designated by the Board. If the Board does not designate the Committee, references herein to
the “Committee” shall refer to the Board.

     (l) “Company” shall mean Burger King Worldwide Holdings, Inc., a Delaware corporation.

     (m) “Dividend Equivalent” shall mean a right, granted to a Participant under the Plan, to
receive cash, Shares, other Awards or other property equal in value to dividends paid with respect
to Shares.

     (n) “Effective Date” shall mean February 2, 2011.

     (o) “Employment Agreement” shall mean any employment agreement or offer, promotion or
confirmation letter with the Company or one of its Affiliates.

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     (p) “Fair Market Value” shall mean, as of the applicable date of determination, with respect
to Shares, the fair market value of a Share, as determined by the Committee, in good faith, based
on such factors as the Committee deems appropriate; provided that, following an IPO, the
fair market value of a full Share shall be the closing price of a full Share on the date in
question (or, if there is no reported sale on such date, on the last preceding date on which any
reported sale occurred) on the principal stock exchange on which the Shares trade or are quoted.
With respect to any property other than Shares, the fair market value of such property shall be
determined by such methods or procedures as shall be established in good faith from time to time by
the Committee.

     (q) “Incentive Stock Option” shall mean an option representing the right to purchase Shares
from the Company, granted under and in accordance with the terms of Section 6, that meets the
requirements of Section 422 of the Code, or any successor provision thereto.

     (r) “Initial Public Offering” or “IPO” shall mean the effective date of a registration
statement (other than a registration statement on Form S-4 or S-8, or any successor form) filed in
connection with a registered public offering of equity securities of the Company, BKC or any
Parent, following which at least 15% of the equity securities of the Company, BKC or any Parent,
have been publicly distributed or sold or are being actively traded on a national securities
exchange or quoted on an interdealer quotation system.

     (s) “Investment Award Notice” shall mean the document(s) provided to a Participant evidencing
an Award of Investment Rights to such Participant and setting forth the terms and conditions
thereof, including the number Shares covered by such award, the per Share and aggregate purchase
price for such Shares and the period during which the Participant may exercise the right to
purchase such Shares.

     (t) “Investment Rights” shall mean an Award granted pursuant to Section 10 of the Plan.

     (u) “Lock-Up Period” shall mean, except as provided otherwise in the applicable Award
Agreement, such period as the applicable underwriters may specify before or following the effective
date of any registration statement filed by the Company in connection with an underwritten public
offering of any capital stock of the Company, during which no Participants shall be permitted to
Transfer Shares.

     (v) “Management Shareholders’ Agreement” shall mean the Management Subscription and
Shareholders’ Agreement entered into by the Company and a Participant setting forth the terms and
conditions applicable to any Shares purchased by or Transferred to such Participant prior to an
Initial Public Offering upon exercise of any Investment Rights or Option or settlement of any Award
with Shares, which agreement shall be in such form as the Committee shall approve from time to
time.

     (w) “Millishare” shall mean .001 of one full Share.

     (x) “Non-Qualified Stock Option” shall mean an option representing the right to purchase
Shares from the Company, granted under and in accordance with the terms of Section 6, that is not
an Incentive Stock Option.

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     (y) “Option” shall mean an Incentive Stock Option or a Non-Qualified Stock Option.

     (z) “Other Award” shall mean an Award granted pursuant to Section 11 of the Plan.

     (aa) “Parent” shall mean the entity that is directly owned by 3G and any entity (other than
the Company) in an unbroken chain of entities beginning with such entity and ending with BKC, each
of which owns, directly or indirectly, more than 50% of the voting power of the issued and
outstanding stock in BKC.

     (bb) “Participant” shall mean the recipient of an Award granted under the Plan.

     (cc) “Performance Award” shall mean an Award granted pursuant to Section 9 of the Plan.

     (dd) “Performance Period” shall mean the period established by the Committee at the time any
Performance Award is granted or at any time thereafter during which any performance goals specified
by the Committee with respect to such Award are measured.

     (ee) “Person” shall mean an individual, partnership, limited liability company, corporation,
trust, association, estate, unincorporated organization, a government or any agency or political
subdivision thereof or other entity of whatever nature, and shall include any successor (by merger
or otherwise) of such entity.

     (ff) “Plan” shall mean this Burger King Worldwide Holdings, Inc. 2011 Omnibus Incentive Plan,
as the same may be amended from time to time.

     (gg) “Repurchase Period” shall have the meaning set forth in the applicable Subscription and
Shareholders’ Agreement.

     (hh) “Repurchase Price” shall have the meaning set forth in the applicable Subscription and
Shareholders’ Agreement.

     (ii) “Restricted Stock” shall mean any Share with the restriction that the holder may not
sell, transfer, pledge, or assign such Share or with such risks of forfeiture or other restrictions
as the Committee, in its sole discretion may impose, granted under Section 8.

     (jj) “Restricted Stock Unit” shall mean a contractual right granted under Section 8 that is
denominated in Shares. Each Unit represents a right to receive one Share or the value of one Share
upon the terms and conditions set forth in the Plan and the applicable Award Agreement.

     (kk) “Retirement” shall mean a Participant’s termination of Service at or after the later of
(i) the Participant’s 55th birthday and (ii) the Participant’s completion of five years
of Service with the Company or an Affiliate.

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     (ll) “SAR” or “Stock Appreciation Right” shall mean any right granted to a Participant
pursuant to Section 7 to receive, upon exercise by the Participant, the excess of (i) the Fair
Market Value of a Share on the date of exercise or at any time during a specified period before the
date of exercise over (ii) the grant price of the right on the date of grant, or if granted in
connection with an outstanding Option on the date of grant of the related Option, as specified by
the Committee in its sole discretion, which, except in the case of Substitute Awards or in
connection with an adjustment provided in Section 5(d), shall not be less than the Fair Market
Value of a Share on such date of grant of the right or the related Option, as the case may be.

     (mm) “Securities Act” shall mean the Securities Act of 1933, as amended.

     (nn) “Service” shall mean the active performance of services for the Company or an Affiliate
by a person who is an employee or director of the Company or an Affiliate.

     (oo) “Shares” shall mean whole and/or Millishares or other fractional shares of the common
stock of the Company.

     (pp) “Subscription and Shareholders’ Agreement” shall mean either the Management Shareholders’
Agreement or the Board Member Shareholders’ Agreement, as applicable to the particular Participant
to whom the provision relates.

     (qq) “Subsidiary” shall mean any entity of which equity interests representing at least 50% of
the ordinary voting power is owned, directly or indirectly, by the Company.

     (rr) “Substitute Awards” shall mean Awards granted in assumption of, or in substitution for,
outstanding awards previously granted by a company acquired by the Company or with which the
Company combines.

     (ss) “3G” shall mean 3G Special Situations Fund II, L.P.

     (tt) “Transfer” shall mean any direct or indirect transfer, sale, exchange, assignment,
pledge, hypothecation, gift, testamentary transfer or other encumbrance or other disposition of any
interest, including the grant of an option or other right in respect of such interest, whether
directly or indirectly, whether voluntarily, involuntarily or by operation of law; and
“Transferred”, “Transferee” and “Transferability” shall each have a correlative meaning.

          Section 3: Eligibility.

     (a) Any employee, director, consultant or other advisor of, or any other Person who provides
services to, the Company or any Affiliate, shall be eligible to be selected to receive an Award
under the Plan.

     (b) A Person who has agreed to accept employment by the Company or an Affiliate or otherwise
perform services for the Company or an Affiliate shall be deemed to be eligible for Awards
hereunder as of the date of such acceptance.

     (c) Holders of options and other types of awards granted by a company acquired by the Company
or with which the Company combines are eligible for grants of Substitute Awards hereunder.

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          Section 4: Administration.

     (a) The Plan shall be administered by the Committee. The Committee shall be appointed by the
Board and shall consist of not less than two directors. Each Committee member shall be (i)
independent, within the meaning of and to the extent required by applicable rulings and
interpretations of the Securities and Exchange Commission and the applicable stock exchange on
which the Shares trade or are quoted and (ii) an outside director pursuant to Section 162(m) of the
Code, and any regulations issued thereunder, in each case at such time as the Company becomes
subject to the respective regulatory regime. The Board may designate one or more directors as
alternate members of the Committee who may replace any absent or disqualified member at any meeting
of the Committee. The Committee may delegate to one or more officers of the Company the authority
to grant Awards except that such delegation shall not be applicable to any Award for a person then
covered by Section 16 of the Act. The Committee may issue rules and regulations for administration
of the Plan. It shall meet at such times and places as it may determine.

     (b) Subject to the terms of the Plan and applicable law, the Committee (or its delegate) shall
have full power and authority to: (i) designate Participants; (ii) determine the type or types of
Awards (including Substitute Awards) to be granted to any Participant under the Plan; (iii)
determine the number of Shares to be covered by (or with respect to which payments, rights, or
other matters are to be calculated in connection with) Awards; (iv) determine the terms and
conditions of any Award, including, without limitation, any restrictions that the Committee, in its
sole discretion, may impose (including any restriction on the right to vote a Share, the right to
receive any dividends or Dividend Equivalent, the right to Transfer Awards or Shares or other
rights), which restrictions may lapse separately or in combination at such time or times, in
installments or otherwise, as the Committee may deem appropriate; (v) determine whether, to what
extent, and under what circumstances Awards may be settled or exercised in cash, Shares, other
securities, or other Awards, or canceled, forfeited or suspended, and the method or methods by
which Awards may be settled, exercised, canceled, forfeited or suspended; (vi) determine whether,
and to what extent, the Company has offset rights, (vii) determine the Company’s rights to
repurchase Shares covered by an Award; (viii) determine whether, to what extent, and under what
circumstances cash, Shares, other securities, other Awards, and other amounts payable with respect
to an Award under the Plan shall be deferred either automatically or at the election of the holder
thereof or of the Committee; (ix) interpret and administer the Plan and any instrument or agreement
relating to, or Award made under, the Plan; (x) establish, amend, suspend or waive such rules and
regulations and appoint such agents as it shall deem appropriate for the proper administration of
the Plan; and (xi) make any other determination and take any other action that the Committee deems
necessary or desirable for the administration of the Plan.

     (c) All decisions of the Committee shall be final, conclusive and binding upon all parties,
including the Company, the shareholders and the Participants.

     (d) As a condition to the exercise of any Option or Investment Right, or the settlement of
any other Award by the delivery of any Shares, prior to an Initial Public Offering, the Company and
a Participant shall enter into the applicable Subscription and Shareholders’ Agreement with respect
to the Shares to be purchased upon such exercise or otherwise received upon settlement of any
Award, which shall generally provide, among other things, for restrictions on the Transfer of the
Shares purchased or otherwise received upon settlement of any Award and the right of the Company to
repurchase such Shares on election by the Company delivered during the Repurchase Period or to
require the Participant to sell such Shares upon the occurrence of certain events.

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     (e) Notwithstanding any other provision hereof or of any Award Agreement, in the event of any
inconsistency in (i) the terms or provisions of the Plan or any such Award Agreement, and (ii) the
terms or provisions of the Subscription and Shareholders’ Agreement entered into by the
Participant, the terms of such Subscription and Shareholders’ Agreement shall control.

     (f) Any stock certificates representing Shares issued under the Plan prior to an Initial
Public Offering shall bear such legends as the Committee shall determine are necessary or
appropriate, including the following, if and to the extent applicable:

The transferability of this certificate and the shares of stock represented
hereby are subject to the restrictions, terms and conditions (including
forfeiture provisions, restrictions against transfer and repurchase rights)
contained in the Burger King Worldwide Holdings, Inc. 2011 Omnibus
Incentive Plan and a Subscription and Shareholders’ Agreement entered into
between the registered owner of such shares and Burger King Worldwide
Holdings, Inc. Copies of the Plan and the Subscription and Shareholders’
Agreement are on file in the office of the Secretary of Burger King
Worldwide Holdings, Inc., at 5505 Blue Lagoon Drive, Miami, Florida 33126.

The shares represented by this certificate have not been registered
pursuant to an effective registration statement under the Securities Act of
1933, as amended, or qualified under any state or non-U.S. securities laws
and may not be transferred, sold, pledged, hypothecated or otherwise
disposed of unless, (i) (A) such disposition is pursuant to an effective
registration statement under the Securities Act of 1933, as amended, (B)
the holder hereof shall have delivered to the Company an opinion of
counsel, which opinion and counsel shall be reasonably satisfactory to the
Company, to the effect that such disposition is exempt from the provisions
of Section 5 of such Act, or (C) a no-action letter from the Securities and
Exchange Commission, reasonably satisfactory to counsel for the Company,
shall have been obtained with respect to such disposition; and (ii) such
disposition is pursuant to registration under any applicable state and
non-U.S. securities laws or an exemption therefrom.

          Section 5: Shares Available for Awards; Anti-Dilution.

     (a) Subject to adjustment as provided below, the maximum number of Shares available for
issuance under the Plan is 5,000 full Shares.

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     (b) If, after the effective date of the Plan, any Shares covered by an Award (other than a
Substitute Award), or to which such an Award relates, are forfeited, or if such an Award otherwise
terminates without the delivery of Shares or of other consideration, then the Shares covered by
such Award, or to which such Award relates, to the extent of any such forfeiture or termination,
shall again be, or shall become, available for issuance under the Plan.

     (c) Any Shares delivered pursuant to an Award may consist, in whole or in part, of authorized
and unissued Shares or Shares acquired by the Company.

     (d) In the event that any dividend or other distribution (whether in the form of cash, Shares
or other securities), recapitalization, stock split, reverse stock split, reorganization, merger,
consolidation, split-up, spin-off, combination, repurchase or exchange of Shares or other
securities of the Company, issuance of warrants or other rights to purchase Shares or other
securities of the Company, or other similar corporate transaction or event affects the Shares or
any Award such that an adjustment is determined by the Committee to be required in order to prevent
dilution or enlargement of the benefits or potential benefits intended to be made available under
the Plan or any Award, then the Committee shall, in such manner as it may deem equitable, adjust
any or all of (i) the number and type of Shares (or other securities) which thereafter may be made
the subject of Awards, (ii) the number and type of Shares (or other securities) subject to
outstanding Awards, and (iii) the grant, purchase, or exercise price with respect to any Award or,
if deemed appropriate, make provision for a cash payment to the holder of an outstanding Award.

     (e) Shares underlying Substitute Awards and Shares underlying awards that can only be settled
in cash shall not reduce the number of Shares remaining available for issuance under the Plan.

     (f) Notwithstanding anything in this Section 5 to the contrary but subject to adjustment as
provided in Section 5(d) hereof, the maximum aggregate number of the Shares that may be issued
under the Plan as a result of the exercise of Incentive Stock Options shall be 5,000 full Shares.

          Section 6: Options.

     (a) The Committee is hereby authorized to grant Options to Participants subject to the terms
and conditions as the Committee shall determine not inconsistent with the provisions of the Plan.

     (b) The purchase price per Share under an Option shall be determined by the Committee;
provided, however, that, except in the case of Substitute Awards, such purchase price shall not be
less than the Fair Market Value of a Share on the date of grant of such Option.

     (c) The term of each Option shall be fixed by the Committee but shall not exceed 10 years from
the date of grant thereof.

     (d) The Committee shall determine the time or times at which an Option may be exercised in
whole or in part.

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     (e) The Committee shall determine the method or methods by which, and the form or forms,
including, without limitation, cash, Shares, other Awards, or any combination thereof, having a
Fair Market Value on the exercise date equal to the relevant exercise price, in which, payment of
the exercise price with respect thereto may be made or deemed to have been made.

     (f) The terms of any Incentive Stock Option granted under the Plan shall comply in all
respects with the provisions of Section 422 of the Code, or any successor provision thereto, and
any regulations promulgated thereunder.

          Section 7: Stock Appreciation Rights.

     (a) The Committee is hereby authorized to grant Stock Appreciation Rights to Participants
subject to the terms and conditions as the Committee shall determine not inconsistent with the
provisions of the Plan.

     (b) SARs may be granted hereunder to Participants either alone (“freestanding”) or in addition
to other Awards granted under the Plan (“tandem”) and may, but need not, relate to specific Options
granted under Section 6.

     (c) Any tandem SAR related to an Option may be granted at the same time such Option is granted
or at any time thereafter before exercise or expiration of such Option. In the case of any tandem
SAR related to any Option, the SAR or applicable portion thereof shall not be exercisable until the
related Option or applicable portion thereof is exercisable and shall terminate and no longer be
exercisable upon the termination or exercise of the related Option, except that a SAR granted with
respect to less than the full number of Shares covered by a related Option shall not be reduced
until the exercise or termination of the related Option exceeds the number of Shares not covered by
the SAR. Any Option related to any tandem SAR shall no longer be exercisable to the extent the
related SAR has been exercised.

     (d) A freestanding SAR shall not have a term of greater than 10 years or, unless it is a
Substitute Award, an exercise price less than 100% of the Fair Market Value of the Share on the
date of grant.

          Section 8: Restricted Stock and Restricted Stock Units.

     (a) The Committee is hereby authorized to grant Awards of Restricted Stock and Restricted
Stock Units to Participants subject to the terms and conditions as the Committee shall determine
not inconsistent with the provisions of the Plan.

     (b) Any Share of Restricted Stock granted under the Plan may be evidenced in such manner as
the Committee may deem appropriate including, without limitation, book-entry registration or
issuance of a stock certificate or certificates. In the event a stock certificate is issued in
respect of shares of Restricted Stock granted under the Plan, such certificate shall be registered
in the name of the Participant and shall bear an appropriate legend referring to the terms,
conditions, and restrictions applicable to such Restricted Stock.

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          Section 9: Performance Awards.

     (a) The Committee is hereby authorized to grant Performance Awards to Participants subject to
the terms and conditions as the Committee shall determine not inconsistent with the provisions of
the Plan.

     (b) Performance Awards may be denominated as a cash amount, number of Shares, or a combination
thereof. Performance Awards shall be granted, earned or become exercisable upon achievement or
satisfaction of performance conditions specified by the Committee. In addition, the Committee may
specify that any other Award shall constitute a Performance Award by conditioning the right of a
Participant to exercise the Award or have it settled, and the timing thereof, upon achievement or
satisfaction of such performance conditions as may be specified by the Committee. The Committee
may use such business criteria and other measures of performance as it may deem appropriate in
establishing any performance conditions. Subject to the terms of the Plan, the performance
conditions to be achieved during any Performance Period, the length of any Performance Period, the
amount of any Performance Award granted and the amount of any payment or Transfer to be made
pursuant to any Performance Award shall be determined by the Committee. If the Committee
determines that a change in the business, operations, corporate structure or capital structure of
the Company, or the manner in which the Company conducts its business, or other events or
circumstances render the performance conditions unsuitable, the Committee may modify the
performance conditions or the related minimum acceptable level of achievement, in whole or in part,
as the Committee deems appropriate and equitable. Performance measures may vary from Performance
Award to Performance Award, respectively, and from Participant to Participant, and may be
established on a stand-alone basis, in tandem or in the alternative.

          Section 10: Investment Rights.

     (a) The Committee is hereby authorized to grant Awards of Investment Rights to Participants
subject to the terms and conditions as the Committee shall determine not inconsistent with the
provisions of the Plan.

     (b) An Award of Investment Rights entitles a Participant to purchase for cash a stated number
of Shares, at a stated purchase price that is not less than the Fair Market Value of a Share on the
date of grant of the Award, subject to the conditions referenced in Section 10(c). A Participant
shall be entitled to exercise the right to purchase such Shares during the period specified in the
Investment Rights Notice. All Shares purchased by a Participant upon exercise of Investment Rights
shall be subject to the terms and conditions of the Subscription and Shareholders’ Agreement
entered into by the Participant.

     (c) A Participant’s right to exercise Investment Rights covered by an Award granted to such
Participant is subject to satisfaction of any and all of the conditions in the Investment Rights
Notice (and any such other conditions as may be specified by the Committee).

          Section 11: Other Awards. The Committee is hereby authorized to grant to Participants such other Awards that may be
denominated or payable in, valued in whole or in
part by reference to, or otherwise based on, or related to, cash, Shares, or other property,
subject to the terms and conditions as the Committee shall determine not inconsistent with the
provisions of the Plan.

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          Section 12: Dividend Equivalents. The Committee is hereby authorized to grant Dividend
Equivalents to Participants subject to the terms and conditions as the Committee shall determine
not inconsistent with the provisions of the Plan. Dividend Equivalents may be awarded on a
free-standing basis or in connection with another Award. The Committee may provide that Dividend
Equivalents shall be paid or distributed when accrued or shall be deemed to have been reinvested in
additional Shares, Awards, or other investment vehicles, and subject to such restrictions on
transferability and risks of forfeiture, as the Committee may specify. Any such determination by
the Committee shall be made at the grant date of the applicable Award.

          Section 13: Effect of Termination of Service on Awards. The Committee may determine or provide in any Award Agreement, or may determine in any
individual case, the circumstances in which Awards shall be exercised, vested, paid or forfeited in
the event a Participant ceases to provide Service to the Company or any Affiliate prior to the end
of a performance period or exercise or settlement of such Award.

          Section 14: Securities Matters.

     (a) Neither the Company nor any Affiliate shall be under any obligation to effect the
registration pursuant to the Securities Act of any Shares to be issued hereunder or to effect
similar compliance under any state or non-US laws. Notwithstanding anything herein to the contrary,
neither the Company nor any Affiliate shall be obligated to cause to be issued or delivered any
Shares or any certificates evidencing Shares pursuant to the Plan unless and until the Company is
advised by its counsel that the issuance and delivery of such Shares and certificates is in
compliance with all applicable laws, regulations of governmental authority and the requirements of
any securities exchange on which Shares are traded. The Committee may require, as a condition to
the issuance and delivery of Shares and/or certificates evidencing Shares pursuant to the terms
hereof, that the recipient of such Shares make such covenants, agreements and representations, and
that such certificates bear such legends, as the Committee deems necessary or desirable.

     (b) The exercise of any Award granted hereunder or the issuance of any Shares in settlement of
any Awards shall be effective only at such time as counsel to the Company shall have determined
that the issuance and delivery of Shares pursuant to such exercise or other settlement is in
compliance with all applicable laws, regulations of governmental authority and the requirements of
any securities exchange on which Shares are traded. The Company may defer the effectiveness of any
exercise of an Award or issuance of Shares granted hereunder to allow the issuance of Shares
pursuant thereto to be made pursuant to registration or an exemption from registration or other
methods for compliance available under applicable laws. The Company shall inform the Participant
in writing of its decision to defer the effectiveness of such exercise of an Award or other
settlement in Shares of an Award granted hereunder. During any period exercise of an Award is
deferred, the Participant may, by written notice, withdraw such exercise and obtain the refund of
any amount paid with respect thereto.

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          Section 15: Limits on Transferability. The Transfer of any Award shall be subject to any
restrictions imposed by the Committee in the applicable Award Agreement, Subscription and
Shareholders’ Agreement, or in any other agreement applicable to the Award. Incentive Stock
Options may not be Transferred otherwise than by will or the laws of descent and distribution, and
may be exercised during the Participant’s lifetime only by the Participant. The Transfer of any
Shares purchased upon exercise of Options or in settlement of any other Award shall be subject to
the applicable Subscription and Shareholder’s Agreement.

          Section 16: General Provisions Applicable to Awards.

     (a) Awards may be granted for no cash consideration or for such minimal cash consideration as
may be required by applicable law.

     (b) Awards may, in the discretion of the Committee, be granted either alone or in addition to
or in tandem with any other Award or any award granted under any other plan of the Company. Awards
granted in addition to or in tandem with other Awards, or in addition to or in tandem with awards
granted under any other plan of the Company, may be granted either at the same time as or at a
different time from the grant of such other Awards or awards.

     (c) Payments or Transfers to be made by the Company upon the grant, exercise or payment of an
Award may be made in the form of cash, Shares, other securities or other Awards, or any combination
thereof, as determined by the Committee in its discretion at the time of grant, and may be made in
a single payment or Transfer, in installments, or on a deferred basis, in each case in accordance
with rules and procedures established by the Committee and in compliance with Section 409A of the
Code to the extent applicable. Such rules and procedures may include, without limitation,
provisions for the payment or crediting of reasonable interest on installment or deferred payments
or the grant or crediting of Dividend Equivalents in respect of installment or deferred payments.

     (d) A Participant may designate a Beneficiary or change a previous Beneficiary designation at
such times prescribed by the Committee by using forms and following procedures approved or accepted
by the Committee for that purpose. If no Beneficiary designated by the Participant is eligible to
receive payments or other benefits or exercise rights that are available under the Plan at the
Participant’s death, the Beneficiary shall be the Participant’s estate.

     (e) All certificates for Shares and/or other securities delivered under the Plan pursuant to
any Award or the exercise thereof shall be subject to such stop transfer orders and other
restrictions as the Committee may deem advisable under the Plan or the rules, regulations, and
other requirements of the Securities and Exchange Commission, any stock exchange upon which such
Shares or other securities are then listed, and any applicable Federal or state securities laws,
and the Committee may cause a legend or legends to be put on any such certificates to make
appropriate reference to such restrictions.

     (f) [Intentionally Omitted]

12

 

     (g) In the event of (i) any merger, consolidation or other reorganization of the Company, BKC
or any Parent, (ii) any Change in Control, (iii) the acquisition by any Person or “group” (as
defined in section 13(d) of the Securities Exchange Act of 1934) (other than the
Company, or any Parent, or any of their respective Subsidiaries, or any employee benefit plan
of the Company or any Parent, or any of their respective Subsidiaries) through one transaction or a
series of related transactions of beneficial ownership of equity securities of the Company, BKC or
any Parent representing 25% or more of the combined voting power of all then outstanding equity
securities of the Company, BKC or any Parent, even if such transaction shall not constitute a
Change in Control, or (iv) 3G no longer having the ability to appoint 25% or more of the directors
of the Company, BKC or any Parent, then, unless otherwise provided in any Award Agreement or in any
Employment Agreement or other agreement between the Company or any Affiliate and a Participant, any
outstanding Awards may be dealt with in accordance with any of the following approaches, without
the requirement of obtaining any consent or agreement of a Participant as such, as determined by
the agreement effectuating the transaction or, if and to the extent not so determined, as
determined by the Committee: (i) the continuation of the outstanding Awards by the Company, if the
Company is the surviving entity, (ii) the assumption or substitution for, as those terms are
defined below, the outstanding Awards by the surviving entity or its parent or subsidiary, (iii)
full exercisability or vesting and accelerated expiration of the outstanding Awards, or (iv)
settlement of the value of the outstanding Awards in cash or cash equivalents or other property
followed by cancellation of such Awards (which value, in the case of Options or Stock Appreciation
Rights, shall be measured by the amount, if any, by which the Fair Market Value of a Share exceeds
the exercise or grant price of the Option or Stock Appreciation Right as of the effective date of
the transaction). If and to the extent that the approach chosen results in an acceleration or
potential acceleration of the exercisability, vesting or settlement of any Award, the Committee may
impose such conditions upon the exercise, vesting and/or settlement of the Award (including without
limitation a requirement that some or all of the proceeds from the accelerated portion of the Award
be held in escrow and/or remain subject to risks of forfeiture or other conditions) as it shall
determine; provided that those risks of forfeiture or other conditions are not in the good faith
judgment of the Committee more restrictive than those under the original terms of the Award
Agreement and do not result in any violation of Section 409A of the Code. The Committee shall give
written notice of any proposed transaction referred to in this Section 16(g) at a reasonable period
of time prior to the closing date for such transaction (which notice may be given either before or
after the approval of such transaction), in order that Participants may have a reasonable period of
time prior to the closing date of such transaction within which to exercise any Awards that are
then exercisable (including any Awards that may become exercisable upon the closing date of such
transaction). A Participant may condition his exercise of any Awards upon the consummation of the
transaction.

     (h) The Committee may impose restrictions on any Award with respect to non-competition,
confidentiality, non-solicitation and other restrictive covenants as it deems necessary in its sole
discretion. In the event of a breach of any of the foregoing covenants and/or for any other
reasons specified in the Award Agreement or in any Employment Agreement or other agreement between
the Company or any Affiliate and the Participant, the Committee may require the clawing back of any
rights or benefits under any Awards, the forfeiture of any portion of any Award, including the
Repurchase Price payable to the Participant in connection with any repurchase of Shares by the
Company and/or that the Participant pay to the Company any amounts realized by such Participant
upon the Participant’s exercise or sale of any Award.

13

 

          Section 17: Amendments; Waivers and Termination.

     (a) Except to the extent prohibited by applicable law and unless otherwise expressly provided
in an Award Agreement or in the Plan, the Board may amend, alter, suspend, discontinue, or
terminate the Plan or any portion thereof, at any time; provided, however, that no such amendment,
alteration, suspension, discontinuation or termination shall be made without (i) shareholder
approval if such approval is required by the listed company rules of the stock exchange, if any, on
which the Shares are principally traded or quoted, or is required by applicable law, or (ii) the
consent of the affected Participant, if such action would adversely affect the rights of such
Participant under any outstanding Award, except to the extent any such amendment, alteration,
suspension, discontinuance or termination is made to cause the Plan to comply with applicable law,
stock exchange rules and regulations or accounting or tax rules and regulations. Notwithstanding
anything to the contrary herein, the Committee may amend the Plan, and may adopt such
modifications, procedures, and subplans, in such manner as may be necessary or desirable to enable
the Plan to achieve its stated purposes in any jurisdiction in a tax-efficient manner and to comply
with the provisions of the laws of foreign countries in which the Company or any Affiliates may
operate to assure the viability of benefits from Awards granted to Participants performing services
in such countries.

     (b) The Committee may waive any conditions or rights under, amend any terms of, or amend,
alter, suspend, discontinue or terminate, any Award theretofore granted, prospectively or
retroactively, without the consent of any relevant Participant or holder or beneficiary of an
Award, provided, however, that no such action shall adversely affect the rights of any affected
Participant or holder or beneficiary under any Award theretofore granted under the Plan, except to
the extent any such action is made to cause the Plan to comply with applicable law, stock exchange
rules and regulations or accounting or tax rules and regulations; and provided further that,
except as provided in Section 5(d), no such action shall directly or indirectly, through
cancellation and regrant or any other method, reduce, or have the effect of reducing, the exercise
price of any Award established at the time of grant thereof.

     (c) The Committee shall be authorized to make adjustments in the terms and conditions of, and
the criteria included in, Awards in recognition of events (including, without limitation, the
events described in Section 5(d)) affecting the Company, or the financial statements of the
Company, or of changes in applicable laws, regulations or accounting principles, whenever the
Committee determines that such adjustments are appropriate in order to prevent dilution or
enlargement of the benefits or potential benefits intended to be made available under the Plan.

     (d) Any provision of the Plan or any Award Agreement to the contrary notwithstanding, the
Committee may cause any Award granted hereunder to be canceled in consideration of a cash payment
or alternative Award made to the holder of such canceled Award equal in value to the Fair Market
Value of such canceled Award (which value, in the case of Options or Stock Appreciation Rights,
shall be measured by the amount, if any, by which the Fair Market Value of a Share exceeds the
exercise price or grant price of the Option or Stock Appreciation Right as of the effective date of
the cancellation of the Award).

14

 

     (e) The Committee may correct any defect, supply any omission, or reconcile any inconsistency
in the Plan or any Award Agreement in the manner and to the extent it shall deem desirable to carry
the Plan into effect.

          Section 18: Miscellaneous.

     (a) No employee, Participant or other person shall have any claim to be granted any Award
under the Plan, and there is no obligation for uniformity of treatment of employees, Participants,
or holders or beneficiaries of Awards under the Plan. The terms and conditions of Awards need not
be the same with respect to each recipient. Any Award granted under the Plan shall be a one-time
Award which does not constitute a promise of future grants. The Company, in its sole discretion,
maintains the Right to make available future grants hereunder.

     (b) The Company shall be authorized to withhold from any Award granted or any payment due or
Transfer made under any Award or under the Plan or from any compensation or other amount owing to a
Participant the minimum statutory amount (in cash, Shares, other securities or other Awards) of
withholding taxes due in respect of an Award, its exercise, or any payment or Transfer under such
Award or under the Plan and to take such other action (including, without limitation, providing for
elective payment of such amounts in cash or Shares by the Participant) as may be necessary in the
opinion of the Company to satisfy all obligations for the payment of such taxes.

     (c) Nothing contained in the Plan shall prevent the Company from adopting or continuing in
effect other or additional compensation arrangements, and such arrangements may be either generally
applicable or applicable only in specific cases.

     (d) The grant of an Award shall not be construed as giving a Participant the right to be
retained in the employ of, or to continue to provide Service to, the Company or any Affiliate.
Further, the Company or the applicable Affiliate may at any time dismiss a Participant, free from
any liability, or any claim under the Plan, unless otherwise expressly provided in the Plan or in
any Award Agreement or in any other agreement binding the parties. The receipt of any Award under
the Plan is not intended to confer any rights on the receiving Participant except as set forth in
such Award Agreement.

     (e) If any provision of the Plan or any Award Agreement is or becomes or is deemed to be
invalid, illegal, or unenforceable in any jurisdiction, or as to any person or Award, or would
disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision
shall be construed or deemed amended to conform to applicable laws, or if it cannot be so construed
or deemed amended without, in the determination of the Committee, materially altering the intent of
the Plan or the Award, such provision shall be stricken as to such jurisdiction, person or Award,
and the remainder of the Plan and any such Award Agreement shall remain in full force and effect.

     (f) Neither the Plan nor any Award shall create or be construed to create a trust or separate
fund of any kind or a fiduciary relationship between the Company and a Participant or any other
person. To the extent that any person acquires a right to receive payments from the
Company pursuant to an Award, such right shall be no greater than the right of any unsecured
general creditor of the Company.

15

 

     (g) Whole or fractional Shares (including Millishares) may be issued or delivered pursuant to
the Plan or any Award.

          Section 19: Term of the Plan. No Award shall be granted under the Plan after February 1, 2021. However, unless otherwise
expressly provided in the Plan or in an applicable Award Agreement, any Award theretofore granted
may extend beyond such date, and the authority of the Committee to amend, alter, adjust, suspend,
discontinue, or terminate any such Award, or to waive any conditions or rights under any such
Award, and the authority of the Board to amend the Plan, shall extend beyond such date.

          Section 20: Section 409A of the Code.

     (a) The Award Agreement for any Award that the Committee reasonably determines to constitute a
Section 409A Plan (as defined below), and the provisions of the Plan applicable to that Award,
shall be construed in a manner consistent with the applicable requirements of Section 409A of the
Code, and the Committee, in its sole discretion and without the consent of any Participant, may
amend any Award Agreement (and the provisions of the Plan applicable thereto) if and to the extent
that the Committee determines that such amendment is necessary or appropriate to comply with the
requirements of Section 409A of the Code.

     (b) If any Award constitutes a “nonqualified deferred compensation plan” under Section 409A of
the Code (a “Section 409A Plan”), then the Award shall be subject to the following additional
requirements, if and to the extent required to comply with Section 409A of the Code:

          (i) Payments under the Section 409A Plan may not be made earlier than the earliest date on
which a distribution may be made under Section 409A(a)(2)(A) of the Code;

          (ii) The time or schedule for any payment of the deferred compensation may not be accelerated,
except to the extent provided in applicable Treasury Regulations or other applicable guidance
issued by the Internal Revenue Service;

          (iii) Any elections with respect to the deferral of such compensation or the time and form of
distribution of such deferred compensation shall comply with the requirements of Section 409A(a)(4)
of the Code; and

          (iv) In the case of any Participant who is “specified employee”, a distribution on account of
a “separation from service” may not be made before the date which is six months after the date of
the Participant’s “separation from service” (or, if earlier, the date of the Participant’s death),
or such other date as may be permissible without violating Section 409A of the Code. For purposes
of the foregoing, the terms in quotations shall have the same meanings as those terms have for
purposes of Section 409A of the Code, and the limitations set forth herein shall be applied in such
manner (and only to the extent) as shall be necessary to comply with any requirements of Section
409A of the Code that are applicable to the Award.

16

 

     (c) Notwithstanding the foregoing, or any other provision of this Plan or any Award Agreement,
the Company does not make any representation to any Participant or Beneficiary that any Awards made
pursuant to this Plan are exempt from, or satisfy, the requirements of, Section 409A of the Code,
and the Company shall have no liability or other obligation to indemnify or hold harmless the
Participant or any Beneficiary for any tax, additional tax, interest or penalties that the
Participant or any Beneficiary may incur in the event that any provision of this Plan, or any Award
Agreement, or any amendment or modification thereof, or any other action taken with respect
thereto, is deemed to violate any of the requirements of Section 409A of the Code.

          Section 21: Governing Law. This Plan shall be governed by and construed in accordance with the laws of the State of
Delaware.

17exv10w77

Exhibit 10.77

BURGER KING WORLDWIDE HOLDINGS, INC.

2011 OMNIBUS INCENTIVE PLAN

OPTION AWARD AGREEMENT

     Unless defined in this Option Award Agreement (this “Award Agreement”), capitalized terms will
have the same meanings ascribed to them in the Burger King Worldwide Holdings, Inc. 2011 Omnibus
Incentive Plan (as may be amended from time to time, the “Plan”).

     Pursuant to Section 6 of the Plan, you have been granted a Non-Qualified Stock Option (the
“Option”) on the following terms and subject to the provisions of the Plan, which is incorporated
herein by reference. In the event of a conflict between the provisions of the Plan and this Award
Agreement, the provisions of the Plan will govern.

Total Number of Millishares Underlying Options:

	 	 	 
	Exercise Price per Millishare:

	 	$15.82 per Millishare
	 
	 	 
	Grant Date:

	 	February 3, 2011
	 
	 	 
	Expiration Date:

	 	February 2, 2021
	 
	 	 
	Vesting Date:

	 	October 19, 2015, subject to your continued
Service through the Vesting Date and
further subject to the Section entitled
“Termination” in Exhibit A.

     By execution of this Award Agreement, you and the Company agree that this Option is granted
under and governed by the terms and conditions of the Plan and the terms and conditions set forth
in the attached as Exhibit A.

	 	 	 	 	 
	GRANTEE 

 	 
	

 	 
	Name:  	 	 
	 	 
	 

	 	 	 	 	 
	BURGER KING WORLDWIDE HOLDINGS, INC.

 	 
	By:  	
 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

 A-1 

 

EXHIBIT A

TERMS AND CONDITIONS OF THE

OPTION AWARD AGREEMENT

Vesting.

     This Option will vest and become exercisable on the “Vesting Date” set forth in this Award
Agreement. Any portion of this Option that becomes exercisable in accordance with the foregoing
will remain exercisable until the Expiration Date, unless earlier terminated pursuant to the Plan
or this Award Agreement (including, without limitation, the section below entitled “Termination”).
Subject to the section below entitled “Termination,” this Option may be exercised only while you
are employed by the Company or any of its Affiliates. Prior to the exercise of this Option, you
will not have any rights of a shareholder with respect to this Option or the Shares subject
thereto.

Method of Exercise.

     This Option will be exercisable pursuant to procedures approved by the Committee and
communicated to you. No Shares will be delivered pursuant to the exercise of this Option unless
(i) you have complied with your obligations under this Award Agreement, (ii) the exercise of this
Option and the delivery of such Shares complies with applicable law, (iii) the Company has received
full payment, in accordance with the methods set forth below in the section entitled “Manner of
Payment,” of the aggregate exercise price of the Option, (iv) arrangements that are satisfactory to
the Committee in its sole discretion have been made for your payment to the Company of the amount,
if any, that is necessary to be withheld in accordance with applicable Federal or state withholding
requirements, and (v) if the effective date of such exercise is prior to an Initial Public
Offering, you have entered into a Management Shareholders’ Agreement with respect to the Shares to
be purchased upon such exercise, which shall generally provide, among other things, for
restrictions on the Transfer of the Shares purchased and the right of the Company to repurchase
such Shares or to require you to sell such Shares upon the occurrence of certain events. Until
such time as the Shares are delivered to you (as evidenced by the appropriate entry on the books of
the Company or of a duly authorized transfer agent of the Company), you will have no right to vote
or receive dividends or any other rights as a shareholder with respect to such Shares,
notwithstanding the exercise of this Option.

Adjustment for Certain Events.

     If and to the extent that it would not cause a violation of Section 409A of the Code or other
applicable law, if any of the events described in Section 5(d) of the Plan shall occur, the
Committee shall make an adjustment as described in such Section 5(d) to prevent dilution or
enlargement of the benefits provided under this Option.

A-2 

 

Manner of Payment.

     On or before the effective date of the exercise of this Option, you shall deliver to the
Company full payment (or make provisions satisfactory to the Committee therefor) of the Exercise
Price per Share for the Shares to be purchased upon such exercise and full payment of the
withholding or other applicable taxes due in respect of such exercise. The Exercise Price may be
paid in whole or in part either (i) by certified check, bank cashier’s check or wire transfer or
(ii) to the extent permitted by the Committee, with Shares you own, or the withholding of Shares
that otherwise would be delivered to you as a result of the exercise of this Option. The
withholding or other applicable taxes may only be paid by certified check, bank cashier’s check or
wire transfer, unless otherwise determined by the Committee in its sole and absolute discretion.

     Any payment of the Exercise Price made in Shares you own shall be effected by the delivery of
the certificate(s) for such Shares, if such Shares are certificated, to the Company, duly endorsed
in blank or accompanied by stock powers duly executed in blank, together with any other documents
and evidences as the Company shall require from time to time.

Termination.

     Upon termination of your Service (other than as set forth below) prior to the Vesting Date,
you will forfeit this Option without any consideration due to you.

     If your Service terminates prior to the Vesting Date Without Cause (as defined below) or by
reason of your death, Retirement or Disability (as defined below), you (or, if applicable, such
other person who is entitled to exercise this Option) shall be vested in the number of Shares as if
the Shares subject to the Option vested 20% on October 19, 2011, October 19, 2012, October 19,
2013, October 19, 2014 and October 19, 2015, respectively, and you (or, if applicable, such other
person who is entitled to exercise this Option) may exercise the Option to the extent vested on the
date of termination of your Service as provided for below.

     To the extent this Option is or becomes exercisable on the date of termination of your
Service, then, if you (or, if applicable, such other person who is entitled to exercise this
Option) do not exercise this Option on or prior to the expiration of the Option Exercise Period (as
set forth below), this Option will terminate. In no event may you exercise this Option after the
Expiration Date.

A-3 

 

	 	 	 	 	 	 
	 
	 	Type of Termination	 	 	Option Exercise Period	 
	 	Without Cause

	 	 	90 day period beginning on the date of termination	 
	 	Resignation

	 	 	90 day period beginning on the date of termination	 
	 	Retirement

	 	 	One year period beginning on the date of termination	 
	 	Disability

	 	 	One year period beginning on the date of termination	 
	 	Death

	 	 	One year period beginning on the date of termination	 
	 	For Cause

	 	 	None, the Option expires immediately	 
	 

     The date of termination of your Service will not be extended by any notice period mandated
under local law (e.g., active employment would not include a period of “garden leave” or similar
period pursuant to local law). The Committee shall have the exclusive discretion to determine the
date of termination of your Service for purposes of this Option.

     In the event that there is a conflict between the terms of this Award Agreement regarding the
effect of a termination of your Service on this Option and the terms of any Employment Agreement,
the terms of your Employment Agreement will govern.

     For purposes of this Award Agreement, the following terms shall have the following meanings:

     “Cause” means (i) a material breach by you of any of your obligations under any
written employment agreement with the Company or any of its Affiliates, (ii) a material violation
by you of any of the policies, procedures, rules and regulations of the Company or any of its
Affiliates applicable to employees or other service providers generally or to employees or other
service providers at your grade level; (iii) the failure by you to reasonably and substantially
perform your duties to the Company or its Affiliates (other than as a result of physical or mental
illness or injury); (iv) your willful misconduct or gross negligence that has caused or is
reasonably expected to result in material injury to the business, reputation or prospects of the
Company or any of its Affiliates; (v) your fraud or misappropriation of funds; or (vi) the
commission by you of a felony or other serious crime involving moral turpitude; provided that if
you are a party to an Employment Agreement at the time of termination of your Service and such
Employment Agreement contains a different definition of “cause” (or any derivation thereof), the
definition in such Employment Agreement will control for purposes of this Award Agreement.

A-4 

 

     If you are terminated Without Cause and, within the twelve (12) month period subsequent to
such termination of your Service, the Company determines that your Service could have been
terminated for Cause, subject to anything to the contrary that
may be contained in your Employment Agreement at the time of termination of your Service, your
Service will, at the election of the Company, be deemed to have been terminated for Cause,
effective as of the date the events giving rise to Cause occurred.

     “Disability” means (i) a physical or mental condition entitling you to benefits under the
long-term disability policy of the Company covering you or (ii) in the absence of any such policy,
a physical or mental condition rendering you unable to perform your duties for the Company or any
of its Affiliates for a period of six (6) consecutive months or longer; provided that if you are a
party to an Employment Agreement at the time of termination of your Service and such Employment
Agreement contains a different definition of “disability” (or any derivation thereof), the
definition in such Employment Agreement will control for purposes of this Award Agreement.

     “Retirement” means a termination of Service by you on or after the later of (i) your
55th birthday and (ii) your completion of five years of Service with the Company or its
Affiliates.

     “Without Cause” means a termination of your Service by you for “Good Reason”, if you have an
Employment Agreement that defines the term “Good Reason”, or by your employer (the “Employer”)
other than any such termination by your Employer for Cause or due to your death or Disability;
provided that if you are a party to an Employment Agreement at the time of termination of your
Service and such Employment Agreement contains a different definition of “without cause” (or any
derivation thereof), the definition in such Employment Agreement will control for purposes of this
Award Agreement.

Change in Control.

     In the event that a Change in Control occurs during your Service, this Option shall vest in
full upon the occurrence of such Change in Control, subject to any terms and conditions that the
Committee may impose in accordance with Section 16(g) of the Plan, including without limitation a
requirement that some or all of the proceeds from the accelerated portion of the Option be held in
escrow and/or remain subject to risks of forfeiture or other conditions; provided, however, that
any vesting requirements imposed with respect to the proceeds from the accelerated portion of the
Option after a Change in Control shall be accelerated and become fully vested in the event that
your Service is terminated after the Change in Control by the Company Without Cause or by reason of
your Retirement, death or Disability (or if you are subject to an Employment Agreement that
includes a definition of the term “Good Reason”, your Service is terminated by you for Good Reason
(as defined in the Employment Agreement)).

     In the event that there is a conflict between the terms of this Award Agreement regarding the
effect of a Change in Control on this Option and the terms of any Employment Agreement, the terms
of your Employment Agreement will govern.

A-5 

 

Taxes.

     Regardless of any action the Company or your Employer takes with respect to any or all income
tax, social security or insurance, payroll tax, payment on account or other tax-related withholding
(“Tax-Related Items”), you acknowledge that the ultimate liability for all Tax-Related Items
legally due by you is and remains your responsibility and that the Company and/or the Employer (1)
make no representations or undertakings regarding the treatment of any Tax-Related Items in
connection with any aspect of the Option grant, including the grant, vesting or exercise of this
Option, the subsequent sale of Shares acquired pursuant to such exercise and the receipt of any
dividends; and (2) do not commit to structure the terms of the grant or any aspect of this Option
to reduce or eliminate your liability for Tax-Related Items.

     Prior to exercise of this Option, you will pay or make adequate arrangements satisfactory to
the Company and/or the Employer to satisfy all withholding and payment on account obligations of
the Company and/or the Employer. In this regard, you authorize the Company and/or the Employer to
withhold all applicable Tax-Related Items legally payable by you from your wages or other cash
compensation paid to you by the Company and/or the Employer or from proceeds of the sale of Shares.
Alternatively, or in addition, if permissible under local law, the Company may in its sole and
absolute discretion (1) sell or arrange for the sale of Shares that you acquire to meet the
withholding obligation for Tax-Related Items, and/or (2) withhold the amount of Shares necessary to
satisfy the minimum withholding amount. Finally, you will pay to the Company or the Employer any
amount of Tax-Related Items that the Company or the Employer may be required to withhold as a
result of your participation in the Plan or your purchase of Shares that cannot be satisfied by the
means previously described. The Company may refuse to honor the exercise and refuse to deliver the
Shares if you fail to comply with your obligations in connection with the Tax-Related Items as
described in this section.

No Guarantee of Continued Service.

     You acknowledge and agree that the vesting of this Option on the Vesting Date is earned only
by performing continuing Service (not through the act of being hired or being granted this Award).
You further acknowledge and agree that this Award Agreement, the transactions contemplated
hereunder and the Vesting Date shall not be construed as giving you the right to be retained in the
employ of, or to continue to provide Service to, the Company or any Affiliate. Further, the
Company or the applicable Affiliate may at any time dismiss you, free from any liability, or any
claim under the Plan, unless otherwise expressly provided in any other agreement binding you, the
Company or the applicable Affiliate. The receipt of this Award is not intended to confer any rights
on you except as set forth in this Award Agreement.

Termination for Cause; Restrictive Covenants.

     In consideration for the grant of this Option and for other good and valuable consideration,
the sufficiency of which is acknowledged by you, you agree as follows:

A-6 

 

     Upon (i) a termination of your Service for Cause, (ii) a retroactive termination of your
Service for Cause as permitted herein or under your Employment Agreement, or (iii) a violation of
any post-termination restrictive covenant (including, without limitation, non-disclosure,
non-competition and/or non-solicitation) contained in your Employment Agreement, any separation or
termination or similar agreement you may enter into with the Company or one of its Affiliates in
connection with termination of your Service, any Options you hold that are then outstanding shall
be immediately forfeited and the Company may require that you repay (with interest or appreciation
(if any), as applicable, determined up to the date payment is made), and you shall promptly repay,
to the Company, the Fair Market Value (in cash or in Shares) of any Shares received upon the
exercise of Options during the period beginning on the date that is one year before the date of
your termination and ending on the first anniversary of the date of your termination, minus the
applicable exercise price. The Fair Market Value of any such Shares shall be determined as of the
date of exercise of such Option.

Company’s Right of Offset.

     If you become entitled to a distribution of benefits under this Award, and if at such time you
have any outstanding debt, obligation, or other liability representing an amount owing to the
Company or any of its Affiliates, then the Company or its Affiliates, upon a determination by the
Committee, and to the extent permitted by applicable law and it would not cause a violation of
Section 409A of the Code, may offset such amount so owing against the amount of benefits otherwise
distributable. Such determination shall be made by the Committee.

Acknowledgment of Nature of Award.

     In accepting this Option, you acknowledge that:

     (a) the Plan is established voluntarily by the Company, it is discretionary in nature and may
be modified, amended, suspended or terminated by the Company at any time, as provided in the Plan;

     (b) the Option award is voluntary, occasional and discretionary and does not create any
contractual or other right to receive future Option awards, or benefits in lieu of Options even if
Options have been awarded repeatedly in the past;

     (c) all decisions with respect to future awards, if any, will be at the sole discretion of the
Company;

     (d) your participation in the Plan is voluntary;

     (e) this Option is an extraordinary item that does not constitute compensation of any kind for
services of any kind rendered to the Company or to the Employer;

     (f) this Option is not part of normal or expected compensation or salary for any purposes,
including, but not limited to, calculation of any severance, resignation,
termination, redundancy, end of service payments, bonuses, long-service awards, pension or
retirement benefits or similar payments;

A-7 

 

     (g) the future value of the underlying Shares is unknown and cannot be predicted with
certainty;

     (h) if the underlying Shares do not increase in value, this Option will have no value;

     (i) if you receive Shares, the value of such Shares acquired upon exercise may increase or
decrease in value; and

     (j) no claim or entitlement to compensation or damages arises from termination of this Option,
and no claim or entitlement to compensation or damages shall arise from any diminution in value of
this Option or Shares received upon exercise of this Option resulting from termination of your
Service by the Employer and you irrevocably release the Company and the Employer from any such
claim that may arise.

Data Privacy Notice and Consent.

     You hereby explicitly and unambiguously consent to the collection, use and transfer, in
electronic or other form, of your personal data as described in this Award Agreement by and among,
as applicable, the Employer, the Company, its Subsidiaries and its Affiliates or such other third
party administrator as designated by the Committee in its sole and absolute discretion for the
exclusive purpose of implementing, administering and managing your participation in the Plan.

     You understand that the Company, the Employer and/or such other third party administrator as
designated by the Committee in its sole and absolute discretion may hold certain personal
information about you, including, but not limited to, your name, home address and telephone number,
date of birth, social insurance or social security number or other identification number, salary,
nationality, job title, any shares of stock or directorships held in the Company, details of this
Option or any other entitlement to Shares awarded, canceled, vested, unvested or outstanding in
your favor, for the purpose of implementing, administering and managing the Plan (“Data”). You
understand that Data may be transferred to any third parties assisting in the implementation,
administration and management of the Plan, that these recipients may be located in your country, or
elsewhere, and that the recipient’s country may have different data privacy laws and protections
than your country. You understand that you may request a list with the names and addresses of any
potential recipients of the Data by contacting your local human resources representative. You
authorize the recipients to receive, possess, use, retain and transfer the Data, in electronic or
other form, for the purposes of implementing, administering and managing your participation in the
Plan, including any requisite transfer of such Data as may be required to a broker, escrow agent or
other third party with whom the Shares received upon exercise of this Option may be deposited. You
understand that Data will be held only as long as is necessary to implement, administer and manage
your participation in the Plan. You understand that you may, at
any time, view Data, request additional information about the storage and processing of Data,
require any necessary amendments to Data or refuse or withdraw the consents herein, in any case
without cost, by contacting in writing your local human resources representative. You understand
that refusal or withdrawal of consent may affect your ability to participate in the Plan. For more
information on the consequences of your refusal to consent or withdrawal of consent, you understand
that you may contact your local human resources representative.

A-8 

 

Securities Laws.

     You acknowledge receipt of advice from the Company that (i) the Shares have not been
registered under the Securities Act of 1933 or qualified under any state securities or “blue sky”
or non-U.S. securities laws, (ii) it is not anticipated that there will be any public market for
the Shares, (iii) the Shares must be held indefinitely and you must continue to bear the economic
risk of the investment in the Shares unless the Shares are subsequently registered under the
Securities Act of 1933 and such state laws or an exemption from registration is available, (iv)
although Rule 144 promulgated under the Securities Act (“Rule 144”) may be available with respect
to sales of securities of the Company, you will not dispose of Shares in reliance on Rule 144 until
the Shares are no longer subject to the restrictions on transfer set forth in the Management
Shareholders’ Agreement, (v) if applicable, when and if the Shares may be disposed of without
registration in reliance upon Rule 144, such disposition can be made only in limited amounts in
accordance with the terms and conditions of Rule 144, (vi) a restrictive legend in the form
heretofore set forth shall be placed on the certificates representing the Shares and (vii) a
notation shall be made in the appropriate records of the Company indicating that the Shares are
subject to restrictions on transfer set forth in this Agreement and the Management Shareholders’
Agreement and, if the Company should in the future engage the services of a stock transfer agent,
appropriate stop-transfer restrictions will be issued to such transfer agent with respect to the
Shares.

Limits on Transferability; Beneficiaries.

     This Option shall not be pledged, hypothecated or otherwise encumbered or subject to any lien,
obligation or liability to any party, or Transferred, otherwise than by your will or the laws of
descent and distribution or to a Beneficiary upon your death, and this Option shall be exercised
during your lifetime only by you or your guardian or legal representative, except that this Option
may be Transferred to one or more Beneficiaries or other Transferees during your lifetime with the
consent of the Committee, and may be exercised by such Transferees in accordance with the terms of
this Award Agreement, provided, however, that in the case of any Transfer prior to an Initial
Public Offering, such Transfer is by gift or a domestic relations order to a “family member”, as
that term is defined in Rule 701 under the Securities Act. A Beneficiary, Transferee, or other
person claiming any rights under this Award Agreement shall be subject to all terms and conditions
of the Plan, the Management Shareholders’ Agreement and this Award Agreement, except as otherwise
determined by the Committee, and to any additional terms and conditions deemed necessary or
appropriate by the Committee.

A-9 

 

     No Transfer to any executor or administrator of your estate or to any Beneficiary by will or
the laws of descent and distribution of any rights in respect of this Option shall be effective to
bind the Company unless the Committee shall have been furnished with (i) written notice thereof and
with a copy of the will and/or such evidence as the Committee may deem necessary to establish the
validity of the Transfer and (ii) the written agreement of the Transferee to comply with all the
terms and conditions applicable to this Option and any Shares purchased upon exercise of this
Option that are or would have been applicable to you, including the requirement to enter into a
Management Shareholders’ Agreement as a condition to the exercise of this Option.

     The Transfer of any Shares purchased upon exercise of this Option shall be subject to the
Management Shareholders’ Agreement. Notwithstanding any other provision hereof, you shall not be
permitted to Transfer Shares during a Lock-Up Period.

No Compensation Deferrals.

     It is intended that the Option awarded pursuant to this Award Agreement be exempt from Section
409A of the Code (“Section 409A”) because it is believed that (i) the Exercise Price per Share may
never be less than the Fair Market Value of a Share on the Grant Date and the number of Shares
subject to the Option is fixed on the original Grant Date, (ii) the Transfer or exercise of the
Option is subject to taxation under Section 83 of the Code and Treasury Regulation 1.83-7, and
(iii) the Option does not include any feature for the deferral of compensation other than the
deferral of recognition of income until the exercise of the Option. The provisions of this Award
Agreement shall be interpreted in a manner consistent with this intention. In the event that the
Company believes, at any time, that any benefit or right under this Award Agreement is subject to
Section 409A, then the Committee may (acting alone and without any required consent by you) amend
this Award Agreement in such manner as the Committee deems necessary or appropriate to be exempt
from or otherwise comply with the requirements of Section 409A (including without limitation,
amending the Award Agreement to increase the Exercise Price per Share to such amount as may be
required in order for the Option to be exempt from Section 409A).

     Notwithstanding the foregoing, the Company does not make any representation to you that the
Option awarded pursuant to this Agreement is exempt from, or satisfies, the requirements of Section
409A, and the Company shall have no liability or other obligation to indemnify or hold harmless you
or any Beneficiary for any tax, additional tax, interest or penalties that you or any Beneficiary
may incur in the event that any provision of this Agreement, or any amendment or modification
thereof or any other action taken with respect thereto, is deemed to violate any of the
requirements of Section 409A.

A-10 

 

Entire Agreement; Governing Law; Jurisdiction; Waiver of Jury Trial.

     The Plan, the Management Shareholders’ Agreement, this Award Agreement and, to the extent
applicable, your Employment Agreement or any separation agreement
constitute the entire agreement of the parties with respect to the subject matter hereof and
supersede in their entirety all prior undertakings, representations and agreements (whether oral or
written) of the Company and you with respect to the subject matter hereof. This Award Agreement
may not be modified in a manner that adversely affects your rights heretofore granted under the
Plan, except with your consent or to comply with applicable law or to the extent permitted under
other provisions of the Plan, including, but not limited to Sections 5(d), 16(g) or 17 of the Plan.
This Award Agreement is governed by the laws of the State of Delaware, without regard to its
principles of conflict of laws.

     ANY ACTION OR PROCEEDING AGAINST THE PARTIES RELATING IN ANY WAY TO THIS AGREEMENT MAY BE
BROUGHT EXCLUSIVELY IN THE COURTS OF THE STATE OF FLORIDA OR (TO THE EXTENT SUBJECT MATTER
JURISDICTION EXISTS THEREFORE) THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF FLORIDA, AND
YOU IRREVOCABLY SUBMIT TO THE JURISDICTION OF BOTH SUCH COURTS IN RESPECT OF ANY SUCH ACTION OR
PROCEEDING. ANY ACTIONS OR PROCEEDINGS TO ENFORCE A JUDGMENT ISSUED BY ONE OF THE FOREGOING COURTS
MAY BE ENFORCED IN ANY JURISDICTION.

     TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW THAT CANNOT BE WAIVED, YOU HEREBY WAIVE, AND
COVENANT THAT YOU WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE), ANY RIGHT TO
TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE, CLAIM OR PROCEEDING ARISING OUT OF THIS
AGREEMENT OR THE SUBJECT MATTER HEREOF, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING AND
WHETHER IN CONTRACT, TORT OR OTHERWISE.

     By signing this Award Agreement, you acknowledge receipt of a copy of the Plan and represent
that you are familiar with the terms and conditions of the Plan, and hereby accept this Award
subject to all provisions in this Award Agreement and in the Plan. You hereby agree to accept as
final, conclusive and binding all decisions or interpretations of the Committee upon any questions
arising under the Plan or this Award Agreement.

Electronic Delivery.

     The Company may, in its sole discretion, decide to deliver any documents related to this
Option or future options that may be awarded under the Plan by electronic means or request your
consent to participate in the Plan by electronic means. You hereby consent to receive such
documents by electronic delivery and agree to participate in the Plan through an on-line or
electronic system established and maintained by the Company or another third party designated by
the Company.

A-11 

 

Agreement Severable.

     In the event that any provision in this Award Agreement will be held invalid or unenforceable,
such provision will be severable from, and such invalidity or unenforceability will not be
construed to have any effect on, the remaining provisions of this Award Agreement.

Language.

     If you have received this Award Agreement or any other document related to the Plan translated
into a language other than English and if the translated version is different that the English
version, the English version will control.

A-12

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