Document:

exv4w3

Exhibit 4.3

G&K SERVICES, INC.

RESTATED EQUITY INCENTIVE PLAN (2010)

TERMS OF NON-QUALIFIED

EMPLOYEE STOCK OPTION

Pursuant to a letter (the “Grant Letter”) addressed and delivered to you from G&K Services,
Inc. (the “Company”), and subject to your acceptance in accordance with paragraph 1 below,
the Compensation Committee (the “Committee”) of the Company’s Board of Directors has
granted you a non-qualified stock option (the “Option”) pursuant to the terms of the G&K
Services, Inc. Restated Equity Incentive Plan (2010) (the “Plan”). A copy of the Plan is
enclosed herewith. The terms of your Option are governed by the provisions of the Plan generally
and the specific terms set forth below. Your Grant Letter and this statement of terms are your
Award Agreement under the Plan. In the event of any conflict or inconsistency between the terms set
forth below and the provisions of the Plan, the provisions of the Plan shall govern and control.

	1.	 	Number of Shares Subject to the Option. Upon your acceptance of the Option, the
Option entitles you to purchase all or any part of the aggregate number of shares of Class A
Common Stock of the Company (the “Common Stock”) set forth in the Grant Letter as “G&K
Stock Option shares,” in accordance with the Plan. To accept the Option, within 14 days of
the Grant Date, you must log into your account at www.bnymellon.com/shareowner/equityaccess
and select the ‘Acknowledge Grant’ button associated with your grant.
	 
	2.	 	Purchase Price. The purchase price of each share of Common Stock covered by the
Option shall be the “Exercise Price” set forth in the Grant Letter.
	 
	3.	 	Exercise and Vesting of Option. The Option is exercisable only to the extent that
all, or any portion thereof, has vested. Except as provided in paragraph 4 below, the Option
shall vest in three (3) equal installments, such installments to begin on the first
anniversary of the “Grant Date” set forth in the Grant Letter and continuing on each
of the next two anniversaries thereof (each individually, a “Vesting Date”) until the
Option is fully vested. In the event that you cease to be an employee of the Company prior to
any Vesting Date, that portion of the Option scheduled to vest on such Vesting Date, and all
portions of the Option scheduled to vest in the future, shall not vest and all rights to and
under such non-vested portions of the Option will terminate.
	 
	4.	 	Term of Option.

	 	(a)	 	To the extent vested, and except as otherwise provided herein or in the
Plan, no Option is exercisable after the expiration of ten (10) years from the
Grant Date (such date to be hereinafter referred to as the “Expiration
Date”).
	 
	 	(b)	 	In the event your employment is terminated for any reason other than
death or disability (other than for cause or voluntary on your part and without
written consent of the Company), the Option shall be exercisable by you (to the
extent

 

 

	 	 	 	that you shall have been entitled to do so at the termination of your employment) at
any time within three (3) months after such termination of employment, but in no
event later than the Expiration Date. In the event of any termination of your
employment that is either (i) for cause or (ii) voluntary on your part and without
the written consent of the Company, the Option, to the extent not theretofore
exercised, shall forthwith terminate.

	 	(c)	 	In the event of your death while you are an employee of the Company or
any of its subsidiaries or within three (3) months after termination of employment
(other than for cause or voluntary on your part and without written consent of the
Company), the Option may be exercised (to the extent that you shall have been
entitled to do so at the date of death) by the person to whom the Option is
transferred by will or the applicable laws of descent and distribution at any time
within twelve (12) months after the date of death, but in no event later than the
Expiration Date.
	 
	 	(d)	 	In the event your employment is terminated by the Company as a result
of a disability, the Option shall be exercisable by you (to the extent that you
shall have been entitled to do so at the termination of your employment) at any
time within twelve (12) months after such termination of employment, but in no
event later than the Expiration Date. For purposes of this Option, you will be
considered to have a “disability” if you have physical, mental or emotional
limits caused by a current sickness or injury and, due to these limits, you are not
able to perform, on a full-time basis, the major duties of your own job with or
without reasonable accommodation (e.g., if you are required, on average, to work
more than 40 hours per week, you will not be considered to have a
“disability” if you are able to perform the major duties of your employment
for 40 hours per week); you will not be considered to have a disability if you
perform any work for wage or profit, and the loss of a professional or occupational
license will not, in and of itself, constitute a “disability.”
	 
	 	(e)	 	In the event your employment is terminated as a result of a qualified
retirement from the Company, the Option shall be exercisable by you (to the extent
that you shall have been entitled to do so on the date of your retirement) at any
time within the three (3) year period following the date of such qualified
retirement, but in no event later than the Expiration Date. For purposes of this
Option, your retirement from the Company shall be considered a “qualified
retirement” if such retirement is voluntary and, at the time of such
retirement, you are at least 60 years of age and have been employed by the Company
on a continuous basis for a period of at least five years.

	5.	 	Method of Exercise. Subject to the terms and conditions set forth herein and in the
Plan, the Option may be exercised, in whole or in part, by logging into your account at
www.bnymellon.com/shareowner/equityaccess or calling 1-866-4GK-SERV and specifying the number
of shares to be purchased and by paying in full the Purchase Price for the number of shares of
Common Stock with respect to which the Option is exercised. Subject to the provisions of the
Plan, such Purchase Price shall be paid in cash and/or in

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	 	 	shares of Common Stock of the Company or other property. In addition, you shall, on or
about notification to you of the amount due, pay promptly an amount sufficient to satisfy
applicable federal, state and local tax requirements. In the event the Option shall be
exercised by any person other than you, such notice shall be accompanied by appropriate
proof of the right of such person to exercise the Option. The Company has no obligation to
deliver shares or cash upon exercise of the Option until all applicable withholding taxes
have been paid or provided for payment and until such shares are qualified for delivery
under such laws and regulations as may be deemed by the Company to be applicable thereto.
Prior to the issuance of shares of Common Stock upon the exercise of the Option, you will
have no rights as a shareholder.

	6.	 	Non Transferability. No stock Option may be transferred, pledged or assigned
otherwise than by will or the laws of descent and distribution. An Option may be exercised,
during your lifetime, only by you, or by your guardian or legal representative. Any attempted
assignment, transfer, pledge, hypothecation, or other disposition of the Option contrary to
the provisions of the Plan or the provisions hereof, and the levy of any execution,
attachment, or similar process upon the Option, will be null and void and without effect.
	 
	7.	 	Reservation of Right to Terminate Employment. Your employment, subject to the
provisions of any agreement between you and the Company, shall be at the pleasure of the Board
of Directors of the Company or other employing corporation, and nothing contained herein shall
restrict any right of the Company or any other employing corporation to terminate your
employment at any time, with or without cause.
	 
	8.	 	Adjustment. In the event that the number of shares of Common Stock shall be
increased or decreased through a reorganization, reclassification, combination of shares,
stock split, reverse stock split, spin-off, stock dividend, or otherwise, then the Option
shall be appropriately adjusted by the Committee, in number of shares or Purchase Price or
both to reflect such increase or decrease. In the event there shall be any other change in the
number or kind of outstanding shares of Common Stock, or any stock or other securities into
which such shares of Common Stock shall have been changed, or for which it shall have been
exchanged, whether by reason of a merger, consolidation or otherwise, then the Committee
shall, in its sole discretion, determine the appropriate adjustment, if any, to be effected.
	 
	9.	 	Withholding. Pursuant to the provisions of the Plan, and as described in greater
detail therein, the Company will have the right to withhold from any payments made in
connection with the Option, or to collect as a condition of payment or delivery, any taxes
required by law to be withheld.
	 
	10.	 	Further Assurances. By accepting the Option, you agree to execute such papers,
agreements, assignments, or documents of title as may be necessary or desirable to effect the
purposes described herein and carry out its provisions.

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	11.	 	Third Party Beneficiaries. Nothing contained herein is intended or shall be
construed as conferring upon or giving to any person, firm or corporation other than you and
the Company any rights or benefits.
	 
	12.	 	Entire Understanding. The provisions set forth herein and those contained in the
Grant Letter and the Plan embody the entire agreement and understanding between you and the
Company with respect to the matters covered herein, in the Grant Letter and in the Plan, and
such provisions may only be modified pursuant to a written agreement signed by the party to be
charged.
	 
	13.	 	Governing Law. The agreement and understanding regarding the Option, and its
interpretation and effect, shall be governed by the laws of the State of Minnesota applicable
to contracts executed and to be performed therein.
	 
	14.	 	Amendments. Except as otherwise provided in the Plan, this Award Agreement may be
amended only by a written agreement executed by the Company and you.

4exv4w4

Exhibit 4.4

G&K SERVICES, INC.

RESTATED EQUITY INCENTIVE PLAN (2010)

TERMS OF NON-QUALIFIED

NON-EMPLOYEE DIRECTOR STOCK OPTION

INITIAL GRANT

Pursuant to a letter (the “Grant Letter”) addressed and delivered to you from G&K Services,
Inc. (the “Company”), and subject to your acceptance in accordance with paragraph 1 below,
the Company has granted you a non-qualified stock option (the “Option”) pursuant to the
terms of the G&K Services, Inc. Restated Equity Incentive Plan (2010) (the “Plan”). A copy
of the Plan is enclosed herewith. The terms of your Option are governed by the provisions of the
Plan generally and the specific terms set forth below. Your Grant Letter and this statement of
terms are your Award Agreement under the Plan. In the event of any conflict or inconsistency
between the terms set forth below and the provisions of the Plan, the provisions of the Plan shall
govern and control.

	1.	 	Number of Shares Subject to the Option. Upon your acceptance of the Option, the
Option entitles you to purchase all or any part of the aggregate number of shares of Class A
Common Stock of the Company (the “Common Stock”) set forth in the Grant Letter as “G&K
Stock Option Shares,” in accordance with the Plan. To accept the Option, within 14 days of
the Grant Date, you must log into your account at www.bnymellon.com/shareowner/equityaccess
and select the ‘Acknowledge Grant’ button associated with your grant.
	 
	2.	 	Purchase Price. The purchase price of each share of Common Stock covered by the
Option shall be the “Exercise Price” set forth in the Grant Letter.
	 
	3.	 	Exercise and Vesting of Option. The Option is exercisable only to the extent that
all, or any portion thereof, has vested. Except as provided in paragraph 4 below, the Option
shall vest in three (3) equal installments, such installments to begin on the first
anniversary of the “Grant Date” set forth in the Grant Letter and continuing on each of the
next two anniversaries thereof (each individually a “Vesting Date”) until the Option is fully
vested. In the event that you cease to be a Director of the Company prior to any Vesting Date,
that portion of the Option scheduled to vest on the Vesting Date, and all portions of the
Option scheduled to vest in the future, shall not vest and all rights to and under such
non-vested portions of the Option will terminate.
	 
	4.	 	Term of Option.

	 	(a)	 	To the extent vested, and except as otherwise provided herein or in the Plan,
no Option is exercisable after the expiration of ten (10) years from the Grant Date
(such date to be hereinafter referred to as the “Expiration Date”).

 

 

	 	(b)	 	Notwithstanding anything to the contrary herein, an Option shall automatically
become immediately exercisable in full upon the death of a Non-Employee Director.
	 
	 	(c)	 	A Non-Employee Director of the Company who shall cease to be such a
Non-Employee Director for any reason, including death, while holding an Option that has
not expired and has not been fully exercised, may, at any time within one year of the
date the Non-Employee Director ceased to be a Non-Employee Director (but in no event
after the Option has expired under the provisions of subparagraph 4(a) above), exercise
the Option with respect to any Common Stock as to which the Non-Employee Director could
have exercised on the date he or she ceased to be such a Non-Employee Director.

	5.	 	Method of Exercise. Subject to the terms and conditions set forth herein and in the
Plan, the Option may be exercised, in whole or in part, by logging into your account at
www.bnymellon.com/shareowner/equityaccess or calling 1-800-851-1982 and specifying the number
of shares to be purchased and by paying in full the Purchase Price for the number of shares of
Common Stock with respect to which the Option is exercised. Subject to the provisions of the
Plan, such Purchase Price shall be paid in cash and/or in shares of Common Stock of the
Company or other property. In addition, you shall, on or about notification to you of the
amount due, pay promptly an amount sufficient to satisfy applicable federal, state and local
tax requirements, if any. In the event the Option shall be exercised by any person other than
you, such notice shall be accompanied by appropriate proof of the right of such person to
exercise the Option. The Company has no obligation to deliver shares or cash upon exercise of
the Option until all applicable withholding taxes have been paid or provided for payment and
until such shares are qualified for delivery under such laws and regulations as may be deemed
by the Company to be applicable thereto. Prior to the issuance of shares of Common Stock upon
the exercise of the Option, you will have no rights as a shareholder.
	 
	6.	 	Non Transferability. No stock Option may be transferred, pledged or assigned
otherwise than by will or the laws of descent and distribution. An Option may be exercised,
during your lifetime, only by you, or by your guardian or legal representative. Any attempted
assignment, transfer, pledge, hypothecation, or other disposition of the Option contrary to
the provisions of the Plan or the provisions hereof, and the levy of any execution,
attachment, or similar process upon the Option, will be null and void and without effect.
	 
	7.	 	Adjustment. In the event that the number of shares of Common Stock shall be increased
or decreased through a reorganization, reclassification, combination of shares, stock split,
reverse stock split, spin-off, stock dividend, or otherwise, then the Option shall be
appropriately adjusted by the Committee, in number of shares or Purchase Price or both to
reflect such increase or decrease. In the event there shall be any other change in the number
or kind of outstanding shares of Common Stock, or any stock or other securities into which
such shares of Common Stock shall have been changed, or for which it shall have been
exchanged, whether by reason of a merger, consolidation or otherwise, then the Committee
shall, in its sole discretion, determine the appropriate adjustment, if any, to be effected.

2

 

	8.	 	Withholding. Pursuant to the provisions of the Plan, and as described in greater
detail therein, the Company will have the right to withhold from any payments made in
connection with the Option, or to collect as a condition of payment or delivery, any taxes
required by law to be withheld.
	 
	9.	 	Further Assurances. By accepting the Option, you agree to execute such papers,
agreements, assignments, or documents of title as may be necessary or desirable to effect the
purposes described herein and carry out its provisions.
	 
	10.	 	Third Party Beneficiaries. Nothing contained herein is intended or shall be construed
as conferring upon or giving to any person, firm or corporation other than you and the Company
any rights or benefits.
	 
	11.	 	Entire Understanding. The provisions set forth herein and those contained in the
Grant Letter and the Plan embody the entire agreement and understanding between you and the
Company with respect to the matters covered herein, in the Grant Letter and in the Plan, and
such provisions may only be modified pursuant to a written agreement signed by the party to be
charged.
	 
	12.	 	Governing Law. The agreement and understanding regarding the Option, and its
interpretation and effect, shall be governed by the laws of the State of Minnesota applicable
to contracts executed and to be performed therein.
	 
	13.	 	Amendments. Except as otherwise provided in the Plan, this Award Agreement may be
amended only by a written agreement executed by the Company and you.

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