Document:

Exhibit

EXHIBIT 10.11

LEGACYTEXAS FINANCIAL GROUP, INC. 
 
2012 EQUITY INCENTIVE PLAN

NON-EMPLOYEE DIRECTOR RESTRICTED STOCK AWARD AGREEMENT

 
RS No. ________________             Grant Date:                             
 
This Restricted Stock Award (“Restricted Stock Award”) is granted by LegacyTexas Financial Group, Inc. (the “Corporation”) to _____________________ (the “Director”) in accordance with the terms of this Non-Employee Director Restricted Stock Award Agreement (the “Agreement”) and subject to the provisions of the LegacyTexas Financial Group, Inc. 2012 Equity Incentive Plan, as amended from time to time (the “Plan”).  A copy of the Plan, as currently in effect, is incorporated herein by reference and is either attached hereto or has been delivered previously to the Director. Capitalized terms used herein which are not defined in this Agreement shall have the meaning ascribed to such terms in the Plan.
 
		
	1.
	Grant of Time-Based Restricted Stock Award.  The Corporation hereby makes to the Director a Restricted Stock Award consisting of _______ Shares (the “Restricted Shares”), which shall be a time-based award.  Except as otherwise provided in Sections 3 and 4 of this Agreement, the Restricted Shares shall vest [vesting provisions to be determined at time of grant].  Upon the vesting of the Restricted Shares, the Corporation shall deliver the Shares underlying the Restricted Shares in accordance with Section 8 of this Agreement and the Plan.  Until the Restricted Shares vest, they are subject to forfeiture and to limits on transferability as provided in Sections 2 and 3 of this Agreement and in Article VII of the Plan.  

		
	2.
	Transferability.  The Director may not sell, assign, transfer, pledge or otherwise encumber any Restricted Shares that have not vested, except in the event of the Director’s death, by will or by the laws of descent and distribution or pursuant to a Domestic Relations Order.  The Committee, in its sole and absolute discretion, may allow the Director to transfer all or any portion of this Restricted Stock Award to the Director’s Family Members, as provided in the Plan.

   
		
	3.
	Termination of Service.  If the Director terminates Service for any reason other than on account of the Director’s death or Disability, any Restricted Shares that have not vested as of the date of that termination shall be forfeited to the Corporation.  If the Director’s Service terminates on account of the Director’s death or Disability, the vesting date for all Restricted Shares that have not vested or been forfeited shall be accelerated to the date of that termination of Service.  

		
	4.
	Effect of Change in Control.  Notwithstanding the less restrictive provisions of Section 7.2 of the Plan, the vesting date for all Restricted Shares that have not vested or been forfeited shall be accelerated to the date of a Change in Control.

		
	5.
	Stock Power.  The Director agrees to execute a stock power with respect to each stock certificate reflecting the Restricted Shares, or other evidence of book-entry stock ownership, in favor of the Corporation.  The Restricted Shares shall not be issued by the Corporation until the required stock power(s) is delivered to the Corporation. 

		
	6.
	Delivery of Shares.  The Corporation shall issue stock certificates or evidence of the issuance of such Restricted Shares in book-entry form, in the name of the Director reflecting the number of Restricted Shares granted as set forth in Section 1.  The Corporation shall retain these certificates or evidence of the issuance of the Restricted Shares in book-entry form until the Shares represented thereby become vested.  Prior to vesting, the Restricted Shares shall be subject to the following restriction, communicated in writing to the Corporation’s stock transfer agent: 

These shares of common stock are subject to the terms of a Non-Employee Director Restricted Stock Award Agreement (“Agreement”) between LegacyTexas Financial Group, Inc. and ___________dated __________, 20__ made pursuant to the terms of the LegacyTexas Financial Group, Inc. 2012 Equity Incentive Plan (“Plan”), copies of which are on file at the executive offices of LegacyTexas Financial Group, Inc., and may not be sold, encumbered, hypothecated or otherwise transferred except in accordance with the terms of such Plan and Agreement. 
		
	7.
	Dividends; Director’s Rights.  As the record holder of all Restricted Shares, the Director shall be paid cash dividends by the Corporation with respect to those Shares at the same time as they are paid to other holders of the Corporation’s common stock.  The Director may exercise all voting rights appurtenant to the Restricted Shares.

		
	8.
	Delivery of Shares to Director.  Upon the vesting of any Restricted Shares, the restrictions in Section 2 shall terminate, and the Corporation shall deliver only to the Director (or, if applicable, the Director’s Beneficiary, estate or Family Member) a certificate (without the legend referenced in Section 6) or evidence of the issuance of Shares in book-entry form, and the related stock power in respect of the vested Restricted Shares shall be of no further force or effect.  The Corporation’s obligation to deliver a stock certificate for vested Restricted Shares, or evidence of the issuance of Shares in book-entry form, can be conditioned upon the receipt of a representation of investment intent from the Director (or the Director’s Beneficiary, estate or Family Member) in such form as the Committee requires.  The Corporation shall not be required to deliver stock certificates for vested Restricted Shares, or evidence of the issuance of Shares in book-entry form, prior to: (a) the listing of those Shares on a National Exchange; or (b) the completion of any registration or qualification of those Shares required under applicable law.

 
		
	9.
	Adjustments in Shares.  In the event of any recapitalization, forward or reverse stock split, reorganization, merger, consolidation, spin-off, combination, exchange of Shares or other securities, stock dividend, special or recurring dividend or distribution, liquidation, dissolution or other similar corporate transaction or event, the Committee, in its sole discretion, shall adjust the number of Shares or class of securities of the Corporation covered by this Agreement.  Any additional Shares or other securities received by the Director as a result of any such adjustment shall be subject to all restrictions and requirements applicable to Restricted Shares that have not vested.  The Director agrees to execute any documents required by the Committee in connection with an adjustment under this Section 9. 

		
	10.
	Tax Election.  The Director understands that an election may be made under Section 83(b) of the Code to accelerate the Director’s tax obligation with respect to receipt of the number of Shares set forth in Section 1 above from the vesting dates to the Grant Date by submitting an election to the Internal Revenue Service substantially in the form attached hereto.  There are significant risks associated with the decision to make an 83(b) Election.  THEREFORE, THE DIRECTOR SHOULD SEEK INDEPENDENT ADVICE REGARDING THE APPLICABLE PROVISIONS OF THE FEDERAL TAX LAW AND THE INCOME TAX LAWS OF ANY MUNICIPALITY, STATE OR FOREIGN COUNTRY TO WHICH THE DIRECTOR IS SUBJECT.  

		
	11.
	Tax Withholding.  As a condition to the issuance of any Restricted Shares, the Corporation may withhold, or require the Director to pay or reimburse the Corporation for, any taxes which the Corporation determines are required to be withheld under federal, state or local law in connection with the grant or vesting of the Restricted Shares.

		
	12.
	Plan and Committee Decisions are Controlling.  This Agreement and the award of Shares to the Director are subject in all respects to the provisions of the Plan, which are controlling.  All decisions, determinations and interpretations by the Committee respecting the Plan, this Agreement or the award of Restricted Shares shall be binding and conclusive upon the Director, any Beneficiary of the Director or the legal representative thereof.

		
	13.
	No Right to Continued Service on the Board. Neither the Plan nor this Agreement shall confer upon the Director any right to be retained as a Director of the Company or in any other capacity.  Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Director’s service at any time. 

		
	14.
	Amendment.  The Committee may waive any conditions of or rights of the Corporation or modify or amend the terms of this Agreement; provided, however, that the Committee may not amend, alter, suspend, discontinue or terminate any provision of this Agreement if such action may adversely affect the Director without the Director’s written consent.  To the extent permitted by applicable laws and regulations, the Committee shall have the authority, in its sole discretion but with the permission of the Director, to accelerate the vesting of the Restricted Shares or remove any other restrictions imposed on the Director with respect to the Restricted Shares, whenever the Committee may determine that such action is appropriate. 

		
	15.
	Director Acceptance.  The Director shall signify acceptance of the terms and conditions of this Agreement and acknowledge receipt of a copy of the Plan by signing in the space provided below and returning the signed copy to the Corporation.

		
	16.
	Electronic Signature.  All references to signatures and delivery of documents in this Agreement may be satisfied by procedures the Corporation has established or may establish from time to time for an electronic system for execution and delivery of any such documents, including this Agreement. The Director’s electronic signature, including, without limitation, “click-through” acceptance of this Agreement through a website maintained by or on behalf of the Corporation, is the same as, and shall have the same force and effect as, the Director’s manual signature.  Any such procedures and 

delivery may be effected by a third party engaged by the Corporation to provide administrative services relating to this Agreement.  

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first written above. 
LEGACYTEXAS FINANCIAL GROUP, INC.
By ________________________________ 
Kevin J. Hanigan, President/CEO      

ACCEPTED BY DIRECTOR 
	
		
	 
	 

	(Signature)
	 

	 
	 

	(Name)
	 

	 
	 

	(Street Address)
	 

	 
	 

	(City, State & Zip Code)
	 

Beneficiary Designation: 
The Director designates the following Beneficiary to receive the Shares upon the Director’s death: 
__________________________________________________________________________Exhibit

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July 25, 2016
Mr. E. Hunter Harrison
Chief Executive Officer
Canadian Pacific
Hunter:
As you know, you and Canadian Pacific Railway Limited ("the Company") are currently parties to an employment agreement dated June 28, 2012, as amended on May 5, 2014 (the "Employment Agreement").  You have advised us that you intend to retire as CEO at the end of your term under the Employment Agreement on June 30, 2017.  The Company values your experience and contributions and the purpose of this consulting agreement is to set out the terms on which you and the Company have agreed that, conditional on you remaining an employee in good standing until your retirement on June 30, 2017, you will provide consulting services commencing July 3, 2017 (the "Effective Date"). 
		
	1.
	Services

You agree to provide the consulting services described in Appendix "A" (the "Services").
		
	2.
	Term

This Agreement will be effective for a period of thirty six (36) months commencing from the Effective Date to July 2, 2020 (the "End Date") and is subject to earlier termination of the provision of the Services in accordance with Section 11, below.

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	3.
	Fees for Services

The Company shall pay you for the provision of the Services a fee at the rate of US$83,333.34 per month, plus any applicable services taxes.   Such fees are payable in arrears within 10 business days of the Company's receipt of a monthly invoice from you to the Company.

		
	4.
	Expenses

The Company shall reimburse you for all out-of-pocket business expenses reasonably, actually and properly incurred in the performance of the Services in accordance with this Agreement which are not otherwise covered by the fee for services.

		
	5.
	Independent Contractor

		
	(a)
	In the performance of this Agreement, you will at all times act in your own capacity and right as an independent contractor. The Company will not be required to make any employment related withholdings and remittances for income tax (or other statutory deductions or levies) in respect of any remuneration payable by the Company to you pursuant to this Agreement.  However, the Company will make any withholdings in respect of each payment made for any of the Services which you perform in Canada that the Company is required to make in order to comply with applicable tax laws. You will be solely responsible for making all contributions, premium payments and income tax remittances in conformity with any applicable statutory requirements on your own behalf, except as otherwise provided for in this section 5(a).

		
	(b)
	Your employment shall cease on June 30, 2017 and during the term of this Agreement and you shall not be entitled to receive from the Company any employee benefits whatsoever. You agree that you are not entitled to the rights and benefits afforded to the Company's employees, including but not limited to participation in any of the Company's group insurance plans, use of the corporate jet, tax equalization, car allowance, housing allowance or vacation pay. You expressly acknowledge that the Company shall not, under any circumstances, be required to provide any notice or compensation in lieu of notice of termination of the Services beyond that provided for under Section 11, below.  

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	6.
	Pension and Retiree Benefits

Notwithstanding Section 5 above, nothing herein affects your right to receive: (a) your pension benefits in accordance with the terms and conditions of the Employment Agreement or (b) retiree medical benefits in accordance with the terms and conditions of the Employment Agreement. 
		
	7.
	Outstanding Company Equity Awards

Notwithstanding Section 5 above, nothing herein affects your rights with respect to your equity awards which shall continue to be governed in accordance with the terms and conditions of your Employment Agreement, the applicable grant agreements and the applicable plan terms.  However, for greater certainty, you are not eligible in your capacity as a consultant for any additional or new equity awards. 
		
	8.
	Non-Disclosure of Confidential Information 

		
	(a)
	You acknowledge that, as a result of the provision of the Services to the Company, you have and will be making use of, acquiring, and/or adding to the Company's Confidential Information (as defined below). Except as required in the performance of the Services under this Agreement and such disclosure is in accordance with applicable securities laws, you will not use or disclose to third parties, directly  or indirectly, any Confidential Information, either during the provision of Services or anytime following cessation of the Services. Notwithstanding the foregoing, you will be permitted to disclose any Confidential Information to the extent required by validly issued legal process or court order, provided that you shall upon receipt of any such legal process or court order give the Company notice of same so that it may intervene or contest such legal process or court order as the Company deems appropriate.

		
	(b)
	As used herein, "Confidential Information" means all confidential and proprietary information of the Company, including any business plan, compilation, list, program, device, formula, pattern, method, technique or process, that relates to the business of the Company.  For purposes of this Agreement, "Confidential Information" includes both information disclosed to you by the Company and information developed by you in the course of your provision of Services to the Company. The types and categories of information which the Company considers to be its Confidential Information include but are not limited to information concerning the Company's management, financial condition, financial operations, employee lists, 

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customer lists (including potential customers and prospects), pricing information, sales activities, marketing activities, sales and marketing strategies, business plans and specified information that has been licensed or otherwise disclosed to the Company by third parties pursuant to license or confidential disclosure agreements.
The parties agree that as used herein, "Confidential Information" shall not include the following: (i) information that at the time of disclosure is in the public domain; or (ii) information that, after disclosure, becomes part of the public domain by publication or otherwise through no fault of your own.
		
	9.
	Property  of  the  Company/Assignment  of  Developments

All documents, encoded media, and other tangible items provided to you by the Company, or prepared, generated or created by you or others in the performance of the Services under this Agreement are the property of the Company. Upon cessation of your Services, you will promptly deliver to the Company all such documents, media and other items in his possession, including all complete or partial copies, recordings, abstracts, notes or reproductions of any kind made from or about such documents, media, items or information contained therein.  You will neither have nor claim any right, title or interest in any trademark, service mark or trade name owned or used by the Company.
		
	10.
	Non-solicitation of Clients/Covenants Against Competition

		
	(a)
	You acknowledge that by reason of the provision of Services and in view of the Confidential Information known or to be obtained by, or disclosed to you, as set forth above, and as a material inducement to the Company to enter into this Agreement, you covenant and agree during the term of your provision of Services to the Company and during the Covenant Period (as defined below), you will not, except as otherwise authorized by this Agreement, directly or indirectly, anywhere in North America, own, manage, engage in, operate, control, work for, consult with, render services for, do business with, maintain any  interest  in (proprietary, financial  or otherwise)  or  participate  in the ownership, management, operation or control of, any business, whether in corporate, proprietorship or partnership form or otherwise, engaged in the business of a Class 1 Railroad (the "Restricted Business") including but not limited to CN, provided, however, that the restrictions contained in this Agreement shall not restrict the acquisition by you, directly or indirectly, of less than 2% of the outstanding capital stock of any publicly traded company engaged in a Restricted Business or the acquisition of an 

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interest in any company which purchases an interest in any entity in the Company.
As used herein, the "Covenant Period" shall mean the term of your provision of Services to the Company pursuant to this Agreement and period of twenty four (24) months following the cessation of your Services pursuant to this Agreement, regardless of the reason for such cessation.
		
	(b)
	You further covenant and agree that during the Covenant Period, you shall not, directly or indirectly: (i) cause, solicit, induce or encourage any employee of the Company to leave such employment or hire, employ or otherwise engage any such individual; or (ii) cause, induce or encourage any material actual or prospective client, customer, supplier or licensor of the Company (including any existing or former customer of the Company and any person or entity that becomes a client or customer of the Company after cessation of your Services) or any other person or entity who has a material business relationship with the Company, to terminate or modify any such actual or prospective relationship. As used in this Agreement, a "former customer" is a person or entity which has been a customer of the Company within the immediately preceding twenty four (24) month period from the date of solicitation, and a "prospective client or customer" is a person or entity to which the Company has submitted a proposal in writing to perform services within the immediately preceding twenty four (24) month period from the date of solicitation. For purposes of this Section 10(b), general newspaper and other media advertisements shall not be considered solicitation of Company employees.

		
	(c)
	You further covenant that you will not criticize, defame or disparage the Company and its subsidiary, successor, predecessor, affiliated, associated and related corporations and any and all of their past, present or future respective directors, officers, employees, shareholders and agents.

		
	(d)
	For greater certainty, the restrictive covenants in this Agreement are in addition and not in substitution for the restrictive covenants applicable to you pursuant to the terms and conditions of the Employment Agreement.

		
	11.
	Termination

You or the Company may terminate the provision of the Services hereunder at any time in the event of the failure of the other party to comply with any provisions of this Agreement. The other party must first be notified in writing and be given an opportunity to remedy the failure within 15 days of receiving the notice. If the failure 

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is not remedied within this period, this Agreement and the performance of the Services hereunder will terminate immediately upon expiry of the 15th day and the Company shall have no obligation to pay you except for Services performed and valid expenses incurred prior to such termination.
You may terminate the provision of the Services hereunder at any time prior to the End Date for any reason upon the giving of 30 calendar days' written notice to the Company and in such case the Company shall have no obligation to pay you except for Services performed and valid expenses incurred prior to such termination.
		
	12.
	Entire Agreement

This Agreement constitutes the entire Agreement between the parties with respect to the subject matter of this Agreement and cancels and supersedes any prior understandings and agreements between the parties with respect thereto. There are no representations, warranties, forms, conditions, undertakings or collateral agreements, express or implied or statutory between the parties other than expressly set out in this Agreement. 
No amendment to this Agreement shall be valid or binding unless in writing and duly executed by both parties. No waiver of any breach of any term or provision of this Agreement shall be effective or binding unless made in writing and signed by the party purporting to give the same and, unless otherwise provided in the written waiver, shall be limited to the specific breach waived.
		
	13.
	Severability

If any provision of this Agreement is determined to be invalid or unenforceable in full or in part, such invalidity or unenforceability shall attach only to such provision or part thereof and the remaining part of such provision and all other provisions of this Agreement shall continue in full force and effect.
		
	14.
	Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the Province of Alberta and the laws of Canada applicable therein.
		
	15.
	Counterpart

The parties agree to execute this Agreement in counterpart and the separately executed versions shall be construed as one document.

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Sincerely,

/s/ Andrew Reardon                    /s/ Isabelle Courville
Andrew Reardon                    Isabelle Courville
Chairman of the Board                MRCC Chair
Canadian Pacific Railway                Canadian Pacific Railway

I agree with the terms and conditions of this consulting agreement.

_/s/   E. Hunter Harrison_________             __July 25, 2016__
E. Hunter Harrison                         Date

__/s/   Cheryl Parks            ___            __July 25, 2016__ 
Witness                            Date

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Appendix A - Services
The Services to be provided at the request of the Company’s management, will include, 
		
	•
	analysis of operating economics on specific lanes of traffic;

		
	•
	analysis and advice regarding locomotive fleet sizing;

		
	•
	review of yard operations and staffing;

		
	•
	review of new, strategic opportunities selected by management;

		
	•
	recommendations with respect to new labor agreements relating to operating practices;

		
	•
	analysis and advise with respect to cost control opportunities and new customer contract pricing.

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