Document:

Exhibit
10.21

FORM OF
RESTRICTED STOCK AWARD AGREEMENT

UNDER

SYMMETRICOM 1999 EMPLOYEE STOCK OPTION PLAN

This RESTRICTED STOCK
AWARD AGREEMENT (the “Agreement”)
is entered into effective as of the
             day of
            , 2005
(the “Effective Date”) between
Symmetricom, Inc. (the “Company”)
and                                         
(the “Participant”).  Any term capitalized but not defined in this
Agreement will have the meaning set forth in the Symmetricom 1999 Employee
Stock Option Plan, as amended from time to time (the “Plan”).

The Plan provides for
the grant of Restricted Stock to certain eligible individuals, as approved by
the Committee. In the exercise of its discretion under the Plan, the Committee
has determined that the Participant should receive a Restricted Stock award
under the Plan and, accordingly, the Company and the Participant hereby agree
as follows:

1.  Grant.    The
Company hereby grants to the Participant a Restricted Stock award (the “Award”) of shares of Restricted Stock. The
Award will be subject to the terms and conditions of the Plan and this
Agreement. The Award constitutes the right, subject to the terms and conditions
of the Plan and this Agreement, to shares of the Company’s common stock, par
value $0.0001 per share (the “Common Stock”)
upon vesting of the Restricted Stock.

2.  Restricted Stock and Stock Certificates.    The
Company will cause its transfer agent to maintain a book entry account (a “BEA”) reflecting the issuance of the Restricted Stock in the
Participant’s name. The Company’s transfer agent will cause the Restricted
Stock to be maintained as restricted stock in a BEA, until the Restricted Stock
is either: (a) forfeited; or (b) vested. This Agreement will be evidence of the
Participant’s Restricted Stock and no certificate will be issued to Participant
upon grant. The Company, or its agent or delegate, will distribute to the
Participant (or, if applicable, the Participant’s designated beneficiary or
other appropriate recipient in accordance with Section 5 hereof) certificates
evidencing ownership of shares of Common Stock as and when provided in this
Agreement.

3.  Rights as Stockholder.    On
and after the Effective Date, and except to the extent specifically provided
herein, the Participant will be entitled to all the rights of a stockholder
with respect to the Restricted Stock, including the right to vote the shares of
Restricted Stock, the right to receive dividends and other distributions
payable with respect to the shares of Restricted Stock, and the right to
participate in any capital adjustment applicable to all holders of Common
Stock. Notwithstanding the foregoing, a distribution with respect to shares of
Common Stock, other than a regular cash dividend, will be deposited with the
Company and will be subject to the same restrictions as the Restricted Stock.
If the Participant forfeits any rights he or she may have under this Award, the
Participant will, on the day following the event of forfeiture, no longer have
any rights as a stockholder with respect to the forfeited portion of the
Restricted Stock or any interest therein (or with respect to any shares of
Restricted Stock not then vested), and the Participant will no longer be
entitled to receive dividends with respect to the Restricted Stock or vote the
Restricted Stock as of any record date occurring thereafter.

4.  Vesting; Effect of Termination of
Employment.    The Participant’s Restricted
Stock will become vested as described in the following paragraphs.

(a)  25% of
the Award shall vest on each of the twelve and twenty-four month anniversaries
of the Effective Date, and the remaining 50% of the Award shall vest on the
thirty-six month anniversary of the Effective Date, assuming the Participant’s
continued employment with the Company through each such date, such that 100% of
the Award shall be vested on the three-year anniversary of the Effective Date.

(b)  If the
Participant’s employment with the Company and any of its Affiliates terminates
before all of the Award has vested (other than as described in subsection (c)
below), he or she will forfeit to the Company for no consideration any portion
of the Award that has not yet then vested as of the date of the

 

termination. The Company will not have any
further obligations to the Participant under this Agreement as to shares of
Restricted Stock that are forfeited as provided herein.

(c)  Notwithstanding
subsection 4(b) above, upon the Participant’s death or Disability, the Award
will immediately become vested on a pro-rata basis from the date hereof through
the date of death or Disability.

5.  Terms and Conditions of Distribution.    As
soon as practicable upon the execution of this Agreement, the Company will
cause its transfer agent to make a BEA reflecting the issuance of the
Restricted Stock to the Participant. As soon as practicable upon the vesting of
the Award, and assuming the Participant has satisfied or made arrangements
satisfactory to the Company to satisfy his or her state and federal tax
withholding obligations in accordance with Section 8 hereof with respect to the
vested shares, the Company will cause its transfer agent to make a BEA
reflecting the removal of the restrictions on the portion of the Award that has
vested. The Company or its transfer agent will distribute to the Participant
certificates for shares of Common Stock underlying the vested portion of the
Award after they vest only if the Participant has satisfied or made
arrangements satisfactory to the Company to satisfy his or her state and
federal tax withholding obligations in accordance with Section 8 hereof with
respect to the vested shares, and only if the Participant requests a
certificate.

If the Participant dies
or becomes subject to a Disability before the Company has made the BEA or
distributed certificates for any shares of Common Stock, the Company will make
the BEA or distribute certificates for those shares of Common Stock and,
pursuant to Section 4(c) hereof, shares of Common Stock with respect to the
balance of the Award which the Committee has determined will become vested upon
the Participant’s death or Disability, to the Participant or, in the event of
his or her death, to the beneficiary designated by the Participant on a form
provided by the Company for this purpose; provided the Participant or
beneficiary has satisfied or made arrangements satisfactory to the Company to
satisfy any state and federal tax withholding obligations in accordance with
Section 8 hereof with respect to the vested shares. If the Participant failed
to designate a beneficiary, the Company will make the BEA or distribute
certificates for those shares of Common Stock in accordance with the
Participant’s will or, if the Participant did not have a will, in accordance
with the laws of descent and distribution. The Company will make the BEA or
distribute certificates for any undistributed vested shares of Common Stock to
the appropriate recipient no later than six months after the Participant’s
death or Disability.

Notwithstanding the
foregoing, the Company will not make any BEA or distribute any shares of Common
Stock under this Section 5 before the first date that those shares may be
distributed to the Participant without penalty or forfeiture under federal or
state laws or regulations governing short swing trading of securities. In
determining whether a distribution would result in such a penalty or
forfeiture, the Company and the Committee may rely upon information reasonably
available to them or upon representations of the Participant’s legal or
personal representative.

6.  Transfer
Restrictions; Legend on Stock Certificates.

(a)  Notwithstanding
anything to the contrary contained in this Agreement, pursuant to the terms of
the Plan, no shares of Restricted Stock may be transferred by the Participant
(by assignment, sale, pledge, hypothecation or otherwise) before they have
vested.

(b)  Participant
is familiar with the provisions of Rule 144, promulgated under the Securities
Act of 1933, as amended (the “Securities Act”)
and Section 16 promulgated under the Securities Exchange Act of 1934. Rule 144
permits the resale of securities by an “affiliate” (as defined in the
Securities Act), subject to the satisfaction of certain of conditions,
including: (1) the resale being made through a broker in an unsolicited “broker’s
transaction” or in transactions directly with a “market maker” (as defined
under the Exchange Act), (2) the availability of certain public information
about the Company, (3) the amount of securities being sold during any three
month period not exceeding the limitations specified in Rule 144(e), and (4)
the timely filing of a Form 144, if applicable. Section 16 short-swing trading
restrictions prohibit the purchase and sale of securities of the Company by
directors, executive officers

 2
 

 

and greater than 10% stockholders of the
Company, within the same six month-period and mandate public reporting
regarding ownership of the Company’s securities and changes thereunder.

(c)  While the
Restricted Stock is maintained by the Company’s transfer agent in
uncertificated form in a book entry account, the account will bear an
appropriate notation to the effect that the Restricted Stock included in it is
subject to the restrictions of this Agreement and Rule 144. The Company may
instruct its transfer agent to impose stop transfer instructions with respect
to any unvested portion of this Award, or with respect to any vested shares of
Common Stock that cannot be distributed to the Participant, his or her
beneficiary, or his or her estate because the withholding tax obligations have
not been paid to the Company or because distributing the shares would violate
Rule 144 or federal or state laws or regulations regarding short swing
profits in trading of securities.

(d)  The
foregoing notation and stop transfer instructions will be removed from the
account maintained for all or any portion of this Award after the conditions
set forth in Sections 4 and 5 of this Agreement and this Section 6 have been
satisfied.

7.  Delivery of Certificates.    
Despite the provisions of Sections 4 and 5 of this Agreement, the Company is
not required to issue or deliver any certificates for shares of Common Stock
underlying any vested portion of this Award if at any time the Company
determines that the listing, registration or qualification of such shares of
Common Stock upon any securities exchange or under any law, or the consent and
approval of any governmental body, or the taking of any other action is
necessary or desirable as condition of, or in connection with, the delivery of
the shares of Common Stock hereunder, unless listing, registration,
qualification, consent, approval or other action has been effected or obtained,
free of any conditions not acceptable to the Company.

8.  Withholding Tax.    Participant
(or his or her beneficiary upon the Participant’s death, as applicable) agrees
to satisfy any withholding taxes, whether federal or state, triggered by the vesting
of the Restricted Stock granted pursuant to this Award or, if the Participant
has executed an election under Section 83(b) of the Code, by the grant of this
Award. The Participant may satisfy the withholding obligation by rendering cash
payment to the Company or, unless prohibited by the Company, by surrendering to
the Company shares of Common Stock subject to the Award having an aggregate
Fair Market Value equal to the statutory minimum withholding obligation arising
as a result of the vesting of the Award.

9.  No Right to Employment or Service.    Nothing
in the Plan or this Agreement will be construed as creating any right in the
Participant to continued employment with the Company, or as altering or
amending the existing terms and conditions of the Participant’s employment.

10.  Breach of Restrictive Covenant.    The
Participant agrees and acknowledges that if the Participant breaches any
non-compete, non-solicitation or non-disclosure provision of any agreement
between the Participant and the Company, including any restrictive covenant
contained in the Participant’s employment agreement, the breach will result in
the immediate termination of this Award and the forfeiture of the Restricted
Stock granted to him or her under this Award Agreement, even if and to the
extent it may already have vested.

11.  Nontransferability.    Neither
any unvested shares of Common Stock under this Award nor any interest of the Participant
or any designated beneficiary in or under this Agreement may be assigned or
transferred by voluntary or involuntary act or by operation of law without the
Company’s written consent. Distribution of shares underlying any vested portion
of this Award will be made only to the Participant; or, if the Committee has
been provided with evidence acceptable to it that the Participant is legally
incompetent, the Participant’s personal representative; or, if the Participant
is deceased, to the designated beneficiary or other appropriate recipient in
accordance with Section 5 of this Agreement. The Committee may require personal
receipts or endorsements of a Participant’s personal representative, designated
beneficiary or alternate recipient. Any effort to otherwise assign or transfer unvested
shares of Common Stock under this Award or any of the rights under this
Agreement will be wholly ineffective, and will be grounds for termination by
the Committee of all rights of the Participant and his or her beneficiary in
and under this Agreement.

 3
 

 

12.  Administration; Plan Document Controls.    The
Committee has the authority to manage and supervise the administration of the
Plan. Notwithstanding anything in this Agreement to the contrary, the terms of
this Agreement will be subject to the terms of the Plan to the same extent and
with the same effect as if set forth fully herein. If the terms of this
Agreement conflict with the terms of the Plan, the Plan will control. The
Committee has the right to resolve all questions which may arise in connection
with this Agreement. This Agreement is subject to all interpretations,
determinations, or other actions made or taken by the Committee regarding the
Plan or this Agreement, which interpretations, determinations or other actions
will be final, binding and conclusive.

13.  Entire Agreement; Governing Law; Review
by Counsel.    The Plan and this Agreement
constitute the entire agreement of the parties with respect to the subject
matter hereof and any and all prior oral or written representations are merged
into this Agreement. This Agreement and all determinations made and actions
taken pursuant hereto, to the extent not otherwise governed by the Code or the
laws of the United States, will be governed by the laws of the State of
California, without giving effect to the principles of conflicts of law. The
Participant acknowledges receipt of a copy of the Plan and represents that he
or she is familiar with the terms and provisions of the Plan, and hereby
accepts this Award subject to all of the terms and provisions of the Plan
effective as of the Effective Date. The Participant has reviewed the Plan and
this Agreement in their entirety, has had an opportunity to obtain the advice
of counsel prior to executing this Agreement and fully understands all
provisions of the Plan and this Agreement.

14.  Severability.    If
any provision of this Agreement is held to be illegal or invalid for any
reason, the illegality or invalidity will not affect the remaining parts of the
Agreement, and the Agreement will be construed and enforced as if the illegal
or invalid provision had not been included.

15.  Binding Effect.    This
Agreement will be binding upon and will inure to the benefit of the Company and
the Participant and, as and to the extent provided herein, their respective
heirs, executors, administrators, legal representatives and assigns.

16.  Amendment and Waiver.    The
provisions of this Agreement may be amended or waived only by written agreement
between the Company and the Participant, and no course of conduct or failure or
delay in enforcing the provisions of this Agreement will affect the validity,
binding effect or enforceability of this Agreement.

* * * * *

 4
 

 

IN WITNESS WHEREOF, the
Company and the Participant have duly executed this Agreement as of the day and
year described in the first paragraph above.

	
   

  	
   

  	
  SYMMETRICOM, INC.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  PARTICIPANT:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (Participant’s Signature)

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name Printed

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Dated:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Residence Address:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

 5Exhibit
10.45

SECOND AMENDMENT
TO CREDIT AGREEMENT

THIS
AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is entered into as of August
19, 2005, by and between SYMMETRICOM, INC., a Delaware corporation (“Borrower”),
and WELLS FARGO BANK, NATIONAL ASSOCIATION (“Bank”).

RECITALS

WHEREAS, Borrower
is currently indebted to Bank pursuant to the terms and conditions of that
certain Credit Agreement between Borrower and Bank dated as of May 1, 2004, as
amended from time to time (“Credit Agreement”).

WHEREAS,
Bank and Borrower have agreed to certain changes in the terms and conditions
set forth in the Credit Agreement and have agreed to amend the Credit Agreement
to reflect said changes.

NOW,
THEREFORE, for valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree that the Credit Agreement shall
be amended as follows:

1.                                       Section
5.7 is hereby deleted in its entirety, and the following substituted therefore:

“SECTION 5.7 DIVIDENDS, DISTRIBUTIONS.  Declare or pay any dividend or distribution
either in cash, stock or any other property on Borrower’s stock now and
hereafter outstanding, nor redeem, retire or otherwise acquire any of any class
of Borrower’s stock now or hereafter outstanding except repurchases of common stock
up to Three Million Dollars ($3,000,000.00) per fiscal quarter.”

2.                                       Except
as specifically provided herein, all terms and conditions of the Credit
Agreement remain in full force and effect, without waiver or modification.  All terms defined in the Credit Agreement
shall have the same meaning when used in this Amendment.  This Amendment and the Credit Agreement shall
be read together, as one document.

3.                                       Borrower
hereby remakes all representations and warranties contained in the Credit
Agreement and reaffirms all covenants set forth therein.  Borrower further certifies that as of the
date of this Amendment there exists no Event of Default as defined in the
Credit Agreement, nor any condition, act or event which with the giving of
notice or the passage of time or both would constitute any such Event of
Default.

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

	
  

  	
  SYMMETRICOM,
  INC.

  	
  WELLS FARGO BANK, NATIONAL
  ASSOCIATION

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ William
  Slater

  	
   

  	
  By:

  	
  /s/ Kevin Herr

  	
   

  	
   

  
	
   

  	
  William Slater

  	
   

  	
  Kevin Herr

  	
   

  	
   

  
	
   

  	
  Chief Financial Officer

  	
   

  	
  Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}]]