Document:

exv10w1

 

Exhibit 10.1

Form of

Global Traffic Network, Inc.

Restricted Stock Agreement

     This Restricted Stock Agreement (this “Agreement”) made effective as of
___, is by and between Global Traffic Network, Inc., a Nevada corporation (the
“Company”), and ___(the “Director”).

Background

     A. Director is serving as a member of the Board of Directors of the Company (the “Board”) and
is not an employee of the Company or any of its subsidiaries (a “Non-Employee Director”) and the
Company desires to award Director for his or her services to the Company; and

     B. The Company has adopted the 2005 Stock Incentive Plan (the “Plan”) pursuant to which shares
of common stock, $.001 par value, of the Company have been reserved for issuance under the Plan.

     Now, Therefore, the parties hereto agree as follows:

     1. Grant of Stock. Subject to the terms and provisions of this Agreement and the
Plan, the Company hereby grants to Director ___(___) shares of the Company’s
common stock (such shares are referred to hereinafter as the “Shares”). Upon the execution of this
Agreement, the Shares shall be registered on the books of the Company, and the Company shall cause
the transfer agent and registrar of its common stock to issue one or more certificates in
Director’s name evidencing the Shares (the “Stock Certificate”). Director shall immediately
thereafter deposit with the Company, together with a stock power endorsed in blank by Director, the
Stock Certificate to be held by the Company until such time as the restrictions set forth herein
and under the Plan have lapsed pursuant to paragraph 4 of this Agreement. The Stock Certificate
shall bear a legend in substantially the following form:

The transferability of this certificate and the shares of common stock represented
by it are subject to the terms and conditions (including conditions of forfeiture)
contained in the 2005 Stock Incentive Plan of Global Traffic Network, Inc. (the
“Company”), and an agreement entered into between the registered owner and the
Company. A copy of the 2005 Stock Incentive Plan and the agreement is on file in the
office of the secretary of the Company.

     2. Rights of Director. Upon the execution of this Agreement and issuance of the
Shares, Director shall become a stockholder with respect to the Shares and shall have all of the
rights of a stockholder with respect to the Shares, including the right to vote the Shares and to
receive all dividends and other distributions paid with respect to the Shares; provided, however,
that the Shares shall be subject to the restrictions set forth in paragraph 3 of this Agreement.

     Notwithstanding the preceding paragraph, the Company’s compensation committee may, in its
discretion, instruct the Company to withhold any stock dividends or stock splits issued on or with
respect to Shares that are subject to the restrictions provided for in paragraph 3 of this
Agreement, which stock dividends or splits shall also be subject to the restrictions provided for
in paragraph 3 of this Agreement.

     3. Restrictions. Director agrees that, in addition to the restrictions set forth in
the Plan, at all times prior to the vesting of the Shares as contemplated by paragraph 4 hereof:

 

 

     (a) Director shall not sell, transfer, pledge, hypothecate or otherwise encumber the
Shares; and

     (b) In the event that Director ceases to be either a member of the Company’s Board of
Directors (for any reason or no reason, and regardless of whether ceasing to be a member of
the Company’s Board of Directors is voluntary or involuntary on the part of Director) or
employed by or engaged as a consultant to the Company, then, subject to paragraphs 4 and 5
hereof, Director shall, for no consideration, forfeit and transfer to the Company all of the
Shares that remain subject to the restrictions set forth in this paragraph 3.

     4. Lapse of Restrictions. The restrictions set forth in paragraph 3 shall lapse
ratably over a period of three (3) years in equal annual installments, beginning on the one-year
anniversary of the date of this Agreement and continuing on each subsequent anniversary date (the
“Vesting Date”) until the restrictions have lapsed with respect to all of the Shares, as set forth
in the following schedule:

	 	 	 
	No. of Shares	 	Date of Lapse
	 

	 	One Year Anniversary of this Agreement
	 

	 	Two Year Anniversary of this Agreement
	 

	 	Three Year Anniversary of this Agreement

Upon request of Director at any time after the date that the restrictions set forth in
paragraph 3 of this Agreement have lapsed with respect to any of the Shares, and such Shares have
become vested, free and clear of all restrictions, except as provided in the Plan, the Company
shall remove any restrictive notations placed on the books of the Company and the Stock
Certificate(s) in connection with such restrictions.

     5. Accelerated Lapsing of Restrictions. Notwithstanding the foregoing, restrictions
set forth in paragraph 3 shall lapse in their entirety on an accelerated basis upon (i) a Change of
Control (as defined below); or (ii) Director ceasing to serve as a member of the Board prior to the
three year anniversary of the date of this Agreement for a reason other than death, disability, or
Director’s voluntary resignation (which shall include without limitation Director’s voluntary
election not to stand for re-election to the Board). For purposes of this Section 5, a “Change in
Control” shall mean (a) any merger, consolidation, reorganization or other business combination
where the individuals or entities who constituted the Company’s stockholders immediately prior to
the combination will not immediately after the combination own at least 50% of the voting
securities of the business resulting from the combination; (b) the sale, lease, exchange or other
transfer of all or substantially all the assets of the Company to any individual, entity or group
not affiliated with the Company; (vi) the liquidation or dissolution of the Company; or (vii) the
occurrence of any other event by which the Company no longer operates as an independent public
company

     6. Copy of the Plan. By the execution of this Agreement, Director acknowledges
receipt of a copy of the Plan, the terms of which are hereby incorporated herein by reference and
made a part hereof by reference as if set forth in full.

     7. Continuation of Service as Director. Nothing contained in this Agreement shall be
deemed to grant Director any right to continue to serve as a member of the Company’s Board of
Directors for any period of time, nor shall this Agreement be construed as giving Director,
Director’s beneficiaries or any other person any equity or interests of any kind in the assets of
the Company or creating a trust of any kind or a fiduciary relationship of any kind between the
Company and any such person.

     8. Withholding of Tax. To the extent that the receipt of the Shares or the lapse of
any restrictions thereon results in income to Director for federal or state income tax purposes,
Director shall deliver to the Company at the time of such receipt or lapse, as the case may be,
such amount of money as the Company may require to meet its withholding obligation under applicable
tax laws or regulations, and, if

2

 

Director fails to do so, the Company is authorized to withhold from any cash or stock
remuneration then or thereafter payable to Director any tax required to be withheld by reason of
such resulting compensation income.

     9. Section 83(b) Election. Director understands that Director shall be responsible
for his or her own federal, state, local or foreign tax liability and any of his other tax
consequences that may arise as a result of transactions in the Shares. Director shall rely solely
on the determinations of Director’s tax advisors or Director’s own determinations, and not on any
statements or representations by the Company or any of its agents, with regard to all such tax
matters. Director understands that Section 83 of the Internal Revenue Code of 1986, as amended,
(the “Code”) taxes as ordinary income the difference between the amount paid for the Shares and the
fair market value of the Shares as of the date any restrictions on the Shares lapse. Director
understands that Director may elect to be taxed at the time the Shares are received rather than
when and as the restrictions on the Shares lapse or expire by filing an election under Section
83(b) of the Code with the Internal Revenue Service within 30 days from the date of the
acquisition. In the event Director files an election under Section 83(b) of the Code, such
election shall contain all information required under the applicable treasury regulation(s) and
Director shall deliver a copy of such election to the Company contemporaneously with filing such
election with the Internal Revenue Service. DIRECTOR ACKNOWLEDGES THAT IT IS DIRECTOR’S SOLE
RESPONSIBILITY AND NOT THE COMPANY’S TO FILE TIMELY THE ELECTION UNDER SECTION 83(B) OF THE CODE,
EVEN IF CONSULTANT REQUESTS THAT THE COMPANY OR ITS REPRESENTATIVES MAKE THIS FILING ON DIRECTOR’S
BEHALF.

     10. General.

     (a) This Agreement may be amended only by a written agreement executed by the Company
and Director.

     (b) This Agreement and the Plan embody the entire agreement made between the parties
hereto with respect to matters covered herein and shall not be modified except in accordance
with paragraph 9 of this Agreement.

     (c) Nothing herein expressed or implied is intended or shall be construed as conferring
upon or giving to any person, firm, or corporation other than the parties hereto, any rights
or benefits under or by reason of this Agreement.

     (c) Each party hereto agrees to execute such further documents as may be necessary or
desirable to effect the purposes of this Agreement.

     (d) This Agreement may be executed in any number of counterparts, each of which shall
be deemed an original, but all of which shall constitute one and the same agreement.

     (e) This Agreement, in its interpretation and effect, shall be governed by the laws of
the State of New Nevada applicable to contracts executed and to be performed therein.

3

 

     In Witness Whereof, the parties have executed this Restricted Stock Agreement to be
effective as of the date first set forth above.

	 	 	 	 	 
	 	DIRECTOR:

 	 
	 	  	 	 
	 	 	 	 
	 	Name: 	 
	 
	 
	 
	 	GLOBAL TRAFFIC NETWORK, INC:

 	 
	 	By:  	 	 
	 	Name: 	 
	 	Title:  	 
	 

4<PAGE>

                                                                    EXHIBIT 10.2

(IDEX CORPORATION LOGO)

                                IDEX CORPORATION
                        RESTRICTED STOCK AWARD AGREEMENT

NAME: LAWRENCE KINGSLEY                 PLAN: IDEX CORPORATION INCENTIVE AWARD
                                              PLAN, AS AMENDED AND RESTATED
ADDRESS: ____________________________         EFFECTIVE FEBRUARY 20, 2008
_____________________________________
_____________________________________   GRANT: 242,800 SHARES OF COMMON STOCK
                                               (THE "RESTRICTED STOCK")
OPTIONEE ID
NUMBER: __________                      GRANT DATE: APRIL 8, 2008

SIGNATURE:
           --------------------------

Effective on the Grant Date you have been granted the Restricted Stock, in
accordance with the provisions of the IDEX Corporation Incentive Award Plan, as
Amended and Restated effective February 20, 2008 (the "Plan") and subject to the
restrictions, terms and conditions set forth herein.

The Restricted Stock will vest and no longer be subject to the restriction of
this Agreement as follows:

50% of the Restricted Stock shall vest on the third anniversary of the Grant
Date; and.

50% of the Restricted Stock shall vest on the fifth anniversary of the Grant
Date;

Provided, however, that if the closing price for the Common Stock is equal to or
greater than $65.90 per share for five consecutive trading days, then all of
unvested shares of the Restricted Stock shall vest and no longer be subject to
the restrictions of this Agreement.

In the event of the termination of your employment or service for any reason,
whether such termination is occasioned by you, by IDEX Corporation (the
"Company") or any of its Subsidiaries, with or without cause or by mutual
agreement ("Termination of Service"), your right to receive and/or vest in
Restricted Stock under the Plan, if any, will terminate effective as of the
earlier of: (i) the date that you give or are provided with written notice of
Termination of Service, or (ii) if you are an employee of the Company or any of
its Subsidiaries, the date that you are no longer actively employed and
physically present on the premises of the Company or any of its Subsidiaries,
regardless of any notice period or period of pay in lieu of such notice required
under any applicable statute or the common law (each, the "Notice Period"). For
greater clarity, you have no rights to receive and/or vest in Restricted Stock
during the Notice Period.

Notwithstanding the foregoing, this award shall be fully vested upon your
Termination of Service by reason of death, Disability, or Retirement, or upon a
Change in Control of the Company. "Disability" means that you could qualify to
receive long-term disability payments under the Company's long-term disability
insurance program, as it may be amended from time to time. "Retirement" means
your voluntary Termination of Service on or after accruing at least five (5)
Years of Service with the Company and attaining an age of at least 50, if the
sum of your age and Years of Service is at least 70. "Years of Service" means
the number of full years that you have been employed by or providing service to
the Company or any of its Subsidiaries.

This award is not transferable except by will or the laws of descent and
distribution.

The Company will cause the Restricted Stock to either (i) be issued and one or
more stock certificates representing the

<PAGE>

Restricted Stock to be registered in your name or (ii) held in book entry form
promptly upon execution of this Agreement. If a stock certificate is issued,
such certificate will bear the following legend:

     The shares of stock represented by this certificate are subject to
     forfeiture and the transferability of this certificate and the shares of
     stock represented hereby are subject to the restrictions, terms and
     conditions (including restrictions against transfer) contained in the Plan
     and a Restricted Stock Award Agreement dated April 8, 2008, entered into
     between the registered owner of such shares and IDEX Corporation. A copy of
     the Agreement is on file in the office of the Secretary of IDEX
     Corporation, Suite 400, 630 Dundee Road, Northbrook, Illinois 60062.

If a certificate is issued then such certificate, together with stock powers
duly executed in blank related to such Restricted Stock, will be deposited with
the Secretary of the Company or a custodian designated by the Secretary. In such
case, the Secretary or custodian will issue a receipt to you evidencing the
certificates held that are registered in your name. Until the Restricted Stock
has been issued and registered in your name, you will not be deemed for any
purpose to be, or have rights as, a Company shareholder by virtue of this award.
After such time, you will receive all dividends paid on and will be entitled to
vote the Restricted Stock.

If a certificate is issued, then following the vesting of any of your Restricted
Stock, the Company will cause to be issued and delivered to you a new
certificate evidencing such Restricted Stock, free of the legend provided above.
If your Restricted Stock is held in book form, the Company will cause any
restrictions noted on the book form to be removed. If your Restricted Stock is
held in book form, you may request that the Company issue you certificates for
vested shares.

The Company has the authority to deduct or withhold, or require you to remit to
the Company, an amount sufficient to satisfy applicable federal, state, local
and foreign taxes arising from this Restricted Stock Award. You may satisfy your
tax obligation, in whole or in part, by either: (i) electing to have the Company
withhold shares of your Restricted Stock otherwise to be delivered with a fair
market value equal to the minimum amount of the tax withholding obligation; or
(ii) surrendering to the Company previously owned Restricted Stock with a fair
market value equal to the minimum amount of the tax withholding obligation. If
you are subject to United Kingdom income tax and/or national insurance
contributions, the Company or any Subsidiary may withhold or collect any income
tax and national insurance contributions: (i) by deduction from salary or any
other payment payable to you at any time on or after the day an income tax
charge arises in respect of a Restricted Stock Award; (ii) directly from you by
payment of cleared funds; or (iii) by arranging for the sale of some of the
shares of Restricted Stock to which you are entitled.

You acknowledge and consent to the collection, use, processing and transfer of
personal data as described in this paragraph. The Company, its affiliates and
your employer hold certain personal information, including your name, home
address and telephone number, date of birth, social security number or other
employee tax identification number, salary, nationality, job title, any shares
of stock awarded, cancelled, purchased, vested, unvested or outstanding in your
favor, for the purpose of managing and administering the Plan ("Data"). The
Company and its affiliates will transfer Data to any third parties assisting the
Company in the implementation, administration and management of the Plan. These
recipients may be located in the European Economic Area, or elsewhere such as
the United States. You authorize them 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 for the
administration of the Plan and/or the subsequent holding of shares of stock on
your behalf to a broker or other third party with whom you may elect to deposit
any shares of stock acquired pursuant to the Plan. You may, at any time, review
Data, require any necessary amendments to it or withdraw the consent herein in
writing by contacting the Company; however, withdrawing the consent may affect
your ability to participate in the Plan.

Your participation in the Plan is voluntary. The value of the Restricted Stock
Award is an extraordinary item of compensation outside the scope of your
employment contract, if any. As such, the Restricted Stock Award is not part of
normal or expected compensation for purposes of calculating any severance,
resignation, redundancy, end of service payments, bonuses, long-service awards,
pensions or retirement benefits or similar payments unless specifically and
otherwise provided. Rather, the awarding of Restricted Stock under the Plan
represents a mere investment opportunity.

This Restricted Stock Award is granted under and governed by the terms and
conditions of the Plan. You acknowledge

<PAGE>

and agree that the Plan is discretionary in nature and may be amended,
cancelled, or terminated by the Company, in its sole discretion, at any time.
The grant of a Restricted Stock Award under the Plan is a one-time benefit and
does not create any contractual or other right to receive an award of Restricted
Stock or benefits in lieu of Restricted Stock in the future. Future awards of
Restricted Stock, if any, will be at the sole discretion of the Company,
including, but not limited to, the timing of the award, the number of shares,
vesting provisions, and the exercise price. The Plan has been introduced
voluntarily by the Company and in accordance with the provisions of the Plan may
be terminated by the Company at any time. By execution of this Agreement, you
consent to the provisions of the Plan and this Agreement. Defined terms used
herein shall have the meaning set forth in the Plan, unless otherwise defined
herein.

COMPANY:

IDEX CORPORATION

By: /s/ Frank J. Notaro
    ---------------------------------
    Frank J. Notaro
    Vice President - General Counsel
    and Secretary

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}]]