Document:

RadioShack Corporation 2007 Restricted Stock Plan Restricted Stock Agreement

    Exhibit
      10.2

    

    

    RADIOSHACK
      CORPORATION

    2007
      RESTRICTED STOCK PLAN

    RESTRICTED
      STOCK AGREEMENT

     

        THIS
      AGREEMENT,
      made as of ______________________ (the “Grant Date”), between RadioShack
      Corporation, a Delaware corporation (the “Company”), and the person named (the
“Grantee”) on one or more of the Notice(s) of Grant of Restricted Stock and
      Restricted Stock Agreement (the “Notice(s)”) attached hereto, the provisions of
      which are incorporated herein by reference;

     

        WHEREAS,
      the
      Company has adopted the RadioShack Corporation 2007 Restricted Stock Plan,
      as
      amended and restated (the “Plan”), in order to provide an additional incentive
      to officers (“Eligible Individuals”) of the Company; and

     

        WHEREAS,
      the
      Management Development and Compensation Committee of the Board of Directors
      (“Committee”) is responsible for administration of the Plan for Eligible
      Individuals and has determined that it is in the best interests of the Company
      and shareholders to grant an Award of Restricted Stock to the Grantee as
      provided herein;

     

        NOW,
      THEREFORE, the
      Company and the Grantee agree as follows:

     

        1.    Grant
      of
      Restricted Stock.

    
    1.1   The
      Company hereby
      grants to the Grantee an Award of shares of Restricted Stock, in the amount
      set
      forth in the Notice, on the terms and conditions set forth in this Agreement
      and
      as otherwise provided in the Plan, the provisions of which are hereby
      incorporated by reference.

    
    1.2   This
      Agreement
      shall be construed in accordance with the provisions of the Plan and, except
      as
      otherwise expressly set forth herein, the capitalized terms used in this
      Agreement shall have the same definitions as set forth in the Plan.

     

        1.3   The
      Grantee’s
      rights with respect to the Award shall remain forfeitable at all times prior
      to
      the date on which the restrictions shall have lapsed in accordance with Sections
      2 or 3 hereof.

    

         2.    Rights
      of
      Grantee.

    
    Except
      as otherwise
      provided in this Agreement, the Grantee shall be entitled, at all times on
      and
      after the date hereof, to exercise all rights of a shareholder with respect
      to
      the Restricted Stock (whether or not vested), other than all or part of the
      Restricted Stock which has been forfeited pursuant to Section 3.3 hereof,
      including the right to vote the Restricted Stock and the

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    right
      to receive
      dividends thereon as provided in Section 6. Notwithstanding the foregoing,
      the
      Grantee shall not be entitled, with respect to the portion of the Restricted
      Stock which has not yet become vested pursuant to Sections 3.2 or 4 hereof,
      to exercise any rights the exercise of which would result in forfeiture of
      such
      Restricted Stock pursuant to Section 3.3(b) hereof.

     

        3.    Resale
      Restrictions, Lapse of Restrictions and Forfeiture.

     

        3.1  
The
      Grantee may not
      transfer, sell, pledge, hypothecate or assign his rights with respect to any
      Restricted Stock (“resale restrictions”) until the Shares have vested in
      accordance with Section 3.2 and the restrictions on such Shares shall have
      lapsed.

     

        3.2    All
      restrictions on
      the Restricted Stock shall lapse on the dates and in the amounts set forth
      in
      the Notice, and on such dates, the applicable number of shares shall be fully
      vested as of each of those three dates. Further, all Restricted Stock, which
      continues to have restrictions applicable thereto, shall have those restrictions
      lapse in the event of a Change in Control of the Company, or the death,
      Disability, retirement at age 55 or older of Grantee, or otherwise pursuant
      to
      Section 4 hereof.

     

        3.3    Upon
      the occurrence
      of either of the events listed below, any Restricted Stock in respect of which
      resale restrictions have not previously lapsed or been removed will be
      forfeited; ownership and all rights therein will automatically revert and be
      transferred to and reacquired by the Company; and neither the Grantee nor any
      heirs, beneficiary, personal representatives, executor or administrator of
      the
      Grantee’s estate shall thereafter have any further rights or interests in such
      Restricted Stock: (a) termination of the Grantee’s employment with the Company
      for any reason (other than a termination upon death, Disability, retirement
      at
      age 55 or older, or otherwise as described in Section 4 hereof) prior to the
      third anniversary of the Grant Date; or (b) any attempt by the Grantee to
      transfer, sell, pledge, hypothecate, or assign his rights with respect to any
      Restricted Stock remaining forfeitable at the time of such attempted transfer,
      sale, pledge, hypothecation or assignment.

     

        4.    Removal
      of
      Restrictions.

     

        4.1   In
      the event of a
      Change in Control of the Company, the Grantee’s death or Disability or Grantee’s
      retirement at age 55 or older all resale restrictions upon the Restricted Stock
      shall lapse immediately, and all such Restricted Stock shall become vested
      in
      the Grantee, his or her heirs, beneficiary, or personal representatives or
      to
      the executor or administrator of Grantee’s estate as applicable.

     

        4.2   The
      restrictions
      also may be removed on all or part of any Restricted Stock whenever the
      Committee otherwise determines it is in the best interests of the Company to
      remove the restrictions on all or part of any Restricted Stock, both such
      removals being at the sole discretion of the Committee. The Committee may,
      in
      the exercise of such discretion, determine that the restrictions upon any
      Restricted Stock shall be removed immediately or at different times. Any such
      actions by the Committee shall be effective only when set forth in a written
      instrument delivered to the Grantee, his or her heirs, beneficiary, personal
      representatives,

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    executor
      or
      administrator of the Grantee’s estate. In no event shall any action by the
      Committee under this Section 4.2 extend the time for lapse of the restrictions
      under other provisions of this Agreement.

     

        5.    Escrow
      Arrangement and Delivery of Shares.

     

        5.1   Certificates
      representing Restricted Stock shall be registered in Grantee’s name but shall be
      held by the Company for the Grantee’s account in escrow. The Restricted Stock
      shall remain in escrow until a stock certificate in respect of the number of
      the
      Shares is issued pursuant to Section 3.2 hereof to the Grantee, his or her
      heirs, beneficiary, or personal representatives or to the executor or
      administrator of Grantee’s estate after each anniversary of the Grant Date as
      set forth in Sections 3.2, 5.2 and 5.3 hereof or forfeiture of the Restricted
      Stock to the Company as set forth in Section 3.3 hereof. 

     

        5.2    Subject
      to Section
      10 hereof, as soon as practicable following the lapsing of restrictions on
      the
      Restricted Stock under Sections 3 or 4 hereof, as applicable, the Company shall
      deliver to the Grantee, his or her heirs, beneficiary, personal representatives,
      or to the executor or administrator of Grantee’s estate, as applicable, a stock
      certificate in respect of such Shares, free of all restrictions hereunder and
      without the legend described in Section 5.3 hereof. 

     

        5.3    Each
      certificate
      representing Restricted Stock held for the Grantee’s account in escrow shall
      bear a legend in substantially the following form:

     

       “This
      certificate
      and the shares of stock represented hereby are subject to the terms and
      conditions (including forfeiture and restrictions against transfer) contained
      in
      the RadioShack Corporation 2007 Restricted Stock Plan (the “Plan”) and a
      Restricted Stock Agreement (the “Agreement”) between the registered owner of the
      Shares represented hereby and RadioShack Corporation. Release from such terms
      and conditions shall be made only in accordance with the provisions of the
      Plan
      and Agreement, copies of which are on file in the office of the Corporate
      Secretary of RadioShack Corporation.”

     

        5.4    Grantee
      agrees to
      deliver to the Company’s Assistant Secretary a stock power for each certificate
      of Restricted Stock as and when requested by the Secretary or Assistant
      Secretary of the Company. The stock power(s) will be used to transfer ownership
      to the Company of the certificates of Restricted Stock held in the Grantee’s
      account.

     

        6.    Dividends.

     

        Delivery
      to the
      Grantee of any dividends payable on the Restricted Stock shall be deferred
      until
      the restrictions on the Shares have lapsed pursuant to Sections 3 or 4 hereof.
      Such dividends shall be held by the Company in cash for the account of the
      Grantee until a certificate for Shares without restrictions is delivered to
      the
      Grantee. The Grantee’s account shall not be credited with interest. Dividends
      shall be paid to the Grantee upon delivery of the corresponding stock
      certificate without restrictions. If the Restricted Stock is forfeited as
      provided in Section

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    3.3
      hereof, then
      any dividends relating to the forfeited Restricted Stock shall also be forfeited
      to the Company.

     

        7.    No
      Right to
      Continued Employment.

     

        Nothing
      in this
      Agreement or the Plan shall be interpreted to confer upon the Grantee any right
      or contract with respect to continued employment by the Company, nor shall
      this
      Agreement or the Plan interfere in any way with the rights of the Company or
      the
      Grantee to terminate the at-will employment relationship at any
      time.

     

        8.    Adjustments.

     

        In
      the event of a
      Change in Capitalization, the Committee shall make appropriate adjustments
      to
      the number and class of Shares of stock subject to the Award. The Committee’s
      adjustment shall be made in accordance with the provisions of Section 12 of
      the
      Plan and shall be effective, final, binding and conclusive for all purposes
      of
      the Plan and this Agreement.

     

        9.    Withholding
      of
      Taxes and Notice of Disposition.

     

        The
      Company shall
      have the right to deduct from any amount payable under this Agreement, or to
      require the Grantee or his estate to otherwise pay, the amount equal to the
      federal, state and local income taxes and other amounts as may be required
      by
      law to be withheld with respect to, and prior to the delivery of, the Shares
      of
      Restricted Stock deliverable under this Agreement, as well as any dividends
      thereon.

     

        10.    Grantee
      Bound by
      the Plan.

     

        The
      Grantee, his or
      her heirs, beneficiary, personal representatives, or the executor or
      administrator of Grantee’s estate, as applicable, hereby acknowledge receipt of
      a copy of the Plan and agrees to be bound by all the terms and provisions
      thereof. The Grantee hereby acknowledges receipt of the prospectus for the
      Plan
      dated May ___, 2007.

        11.    Modification
      of
      Agreement.

     

        This
      Agreement may
      be modified, amended, suspended or terminated, and any terms or conditions
      may
      be waived, but only by a later written instrument executed by the parties
      hereto.

     

        12.    Severability.

     

        Should
      any
      provision of this Agreement be held by a court of competent jurisdiction to
      be
      unenforceable or invalid for any reason, the remaining provisions of this
      Agreement shall not be affected by such holding and shall continue in full
      force
      in accordance with their terms.

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

        13.    Governing
      Law
      and Forum.

     

        The
      validity,
      interpretation, construction and performance of this Agreement shall be governed
      by the laws of the State of Texas without giving effect to the conflicts of
      laws
      principles thereof. Any suit brought under this Agreement shall only be brought
      in the appropriate state or federal court for Tarrant County,
      Texas.

     

        14.    Successors
      in
      Interest.

     

        This
      Agreement
      shall inure to the benefit of and be binding upon each Successor Corporation.
      All obligations imposed upon the Grantee and all rights granted to the Company
      under this Agreement shall be binding upon the Grantee’s heirs, executors,
      administrators and successors.

     

        15.    Resolution
      of
      Disputes.

        

        Any
      dispute or
      disagreement which may arise under, or as a result
      of, or in
      any way relate to, the interpretation, construction or application of this
      Agreement shall be determined by the Committee. Any determination made hereunder
      shall be final, binding and conclusive on the Grantee and Company for all
      purposes.

     

        16.    Entire
      Agreement.

     

        This
      Agreement,
      together with the documents incorporated herein by reference, represents the
      entire Agreement between the parties with regards to the subject matter hereof
      and this Agreement may not be modified by any oral or written agreement unless
      same is in writing, signed by both parties and has been approved by the
      Committee. 

     

        17.    Effective.

     

        Unless
      Grantee
      notifies the Company in writing within thirty (30) days of the date of mailing
      or delivery of this Agreement to Grantee that Grantee does not accept the terms
      of this Agreement, Grantee shall be deemed to have accepted, and be bound by,
      the terms of this Agreement.

     

        18.    Direct
      Registration of Shares.

     

        Notwithstanding
      anything in this Agreement to the contrary, the Company in its sole discretion
      may issue Shares or Restricted Stock hereunder pursuant to the direct
      registration system, and, in lieu of the issuance of certificated Shares or
      Restricted Stock, may issue uncertificated Shares or Restricted Stock,
      respectively, to the account of Grantee. Any references to Share or Restricted
      Stock certificates shall, in such event, be deemed to refer to uncertificated
      Shares or Restricted Stock, as the case may be.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    ELECTION

    

    As
      permitted under
      Section 83 (b) of the Internal Revenue Code of 1986, as amended, I intend to
      make the following irrevocable election:

     

    
      	_______   	
              I
                do intend
                to make the election permitted under Section 83(b) of the Internal
                Revenue
                Code of 1986, as amended, to be taxed immediately on the award of
                Restricted Stock _________.  I understand that the consequences and
                procedures for making this election are summarized in the information
                I
                received about restricted stock
                grants.

            

    

     

    
      	
              _______   

            	
              I do
                NOT intend to
                make the election permitted under Section 83(b) of the Internal Revenue
                Code of 1986, as amended, and will be taxed on parts of the award
                of
                Restricted Stock in the year or years in which the restrictions
                lapse.

            

    

    

    

    ACCEPTED:

    

    GRANTEE:   _________________________________

           Name

     

              SS
      #:
      _________________________

     

     

     

     

     

     

     

    
6Exhibit 10.1

                                                        As of March 28, 2007

Moving Images, LLC
c/o David Brandt
113 Buckingham Road
Upper Montclair, New Jersey  07043

Gentlemen:

     Reference is made to your Consulting Agreement with Trans-Lux Corporation
("TLX") effective as of December 1, 2004 as heretofore amended (the
"Agreement").

     1.  Notwithstanding anything contained in the Agreement to the contrary,
you ("Consultant") acknowledge and agree that Consultant is voluntarily reducing
the consulting fee payments for each month in calendar 2007 to $25,000 per month
at an annual rate of $300,000.  Consultant hereby exercises its right to extend
the Agreement for three years through December 31, 2014 pursuant to Paragraph 2
of the amendment dated as of May 1, 2006.  In consideration of the foregoing
reduction and exercise of option to extend effective in 2007 instead of 2008,
the fees for such three year period ending December 31, 2014 shall be increased
$15,000 per year to the fixed rate of $195,000 per year payable in equal monthly
payments of $16,250.  Accordingly, after giving effect to the foregoing, the
annual fees paid by TLX to Consultant shall be as follows:  $300,000 per annum
for each calendar year 2007 through 2011 and $195,000 per annum for each
calendar year 2012 through 2014.

     2.  In further consideration of the voluntary action by Consultant in
paragraph 1 above, paragraph 3 of the amendment dated as of May 1, 2006 is
amended in its entirety to read as follows:

            Consultant shall be entitled to recoup all prior
       reductions and waivers of annual fees and CPI increases
       subsequent to December 1, 2004 in the event (i) the EBIDTA for
       any calendar year commencing with 2007 and continuing through
       2011 equals or exceeds $14 million, and (ii) the underfunding
       of the TLX Pension Plan has been eliminated at any time between
       January 1, 2007 and December 31, 2011 (the "Elimination
       Period").  In the event such underfunding has been reduced to
       $1,500,000 or less during the Elimination Period, but not
       entirely, then such recoupment shall be 50% and the other 50%
       shall be recouped in the event the underfunding is completely
       eliminated during such Elimination Period.

<PAGE>

     3.  All other terms and conditions of the Agreement remain in full force
and effect.

     Please acknowledge below your acceptance of this letter.

                                                Trans-Lux Corporation

                                                By: /s/ Angela D. Toppi
                                                    __________________________
                                                     Angela D. Toppi,
                                                     Executive Vice President

Accepted and Agreed:

MOVING IMAGES, LLC

By: /s/ David Brandt
   ________________________
     David Brandt, Manager

Approved:

/s/ Richard Brandt
__________________________
     Richard Brandt

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