Document:

basicplandocument

                                                                                                                                                                                                                                                                                                        The CORPORATEplan for RetirementSM                    EXECUTIVE PLAN                                                        BASIC PLAN DOCUMENT                                                                                                                                                             IMPORTANT NOTE    This document has not been approved by the Department of Labor, the  Internal Revenue Service or any other governmental entity.  The  Employer must determine whether the plan is subject to the Federal  securities laws and the securities laws of the various states.  The  Employer may not rely on this document to ensure any particular tax  consequences or to ensure that the Plan is "unfunded and maintained  primarily for the purpose of providing deferred compensation to a  select group of management or highly compensated employees" under  the Employee Retirement Income Security Act with respect to the  Employer's particular situation.  Fidelity Management Trust Company,  its affiliates and employees cannot and do not provide legal or tax  advice or opinions in connection with this document.  This document  does not constitute legal or tax advice or opinions and is not intended or  written to be used, and it cannot be used by any taxpayer, for the  purposes of avoiding penalties that may be imposed on the taxpayer.   This document must be reviewed by the Employer’s attorney prior to  adoption.    (07/2007)                                              ECM NQ 2007 BPD                                                                          ©  2007 Fidelity Management & Research Company    

 

                     CORPORATEplan for Retirement EXECUTIVE                               BASIC PLAN DOCUMENT    ARTICLE 1   ADOPTION AGREEMENT    ARTICLE 2   DEFINITIONS       2.01 - Definitions    ARTICLE 3     PARTICIPATION       3.01 - Date of Participation     3.02 - Participation Following a Change in Status       ARTICLE 4   CONTRIBUTIONS       4.01 - Deferral Contributions      4.02 - Matching Contributions     4.03 - Employer Contributions     4.04 - Election Forms    ARTICLE 5   PARTICIPANTS' ACCOUNTS     ARTICLE 6     INVESTMENT OF ACCOUNTS       6.01 - Manner of Investment     6.02 - Investment Decisions, Earnings and Expenses    ARTICLE 7     RIGHT TO BENEFITS       7.01 - Retirement     7.02 - Death     7.03 - Separation from Service     7.04 - Vesting after Partial Distribution     7.05 - Forfeitures     7.06 - Change in Control     7.07 - Disability     7.08 - Directors    ARTICLE 8     DISTRIBUTION OF BENEFITS       8.01 – Events Triggering and Form of Distributions     8.02 - Notice to Trustee     8.03 – Unforeseeable Emergency Withdrawals            (07/2007)                               i                            ECM NQ 2007 BPD                                                                                               ©  2007 Fidelity Management & Research Company    

 

ARTICLE 9     AMENDMENT AND TERMINATION        9.01 - Amendment by Employer     9.02 - Termination     ARTICLE 10   MISCELLANEOUS       10.01 - Communication to Participants     10.02 - Limitation of Rights     10.03 - Nonalienability of Benefits     10.04 - Facility of Payment     10.05 – Plan Records     10.06 - USERRA     10.07 - Governing Law    ARTICLE 11   PLAN ADMINISTRATION       11.01 - Powers and Responsibilities of the Administrator     11.02 - Claims and Review Procedures            (07/2007)                               ii                           ECM NQ 2007 BPD                                                                                               ©  2007 Fidelity Management & Research Company    

 

                                      PREAMBLE                                                                                      It is the intention of the Employer to establish herein an unfunded plan maintained solely for the  purpose of providing deferred compensation for a select group of management or highly  compensated employees as provided in ERISA.  The Employer further intends that this Plan comply  with Code section 409A, and the Plan is to be construed accordingly.    If the Employer has previously maintained the Plan described herein pursuant to a previously  existing plan document or description, the Employer’s adoption of this Plan document is an  amendment and complete restatement of, and supersedes, such previously existing document or  description with respect to benefits accrued or to be paid on or after the effective date of this  document (except to the extent expressly provided otherwise herein).        Article 1.  Adoption Agreement.      Article 2.  Definitions.      2.01.  Definitions.          (a)  Wherever used herein, the following terms have the meanings set forth below, unless a different        meaning is clearly required by the context:                   (1)  "Account" means an account established on the books of the Employer for the purpose of          recording amounts credited to a Participant and any income, expenses, gains, or losses          attributable thereto.            (2) “Active Participant” means a Participant who is eligible to accrue benefits under a plan              (other than earnings on amounts previously deferred) within the 24-month period ending on              the date the Participant becomes a Participant under Section 3.01.  Notwithstanding the              above, however, a Participant is not an Active Participant if he has been paid all amounts              deferred under the plan, provided that he was, on and before the date of the last payment,              ineligible to continue or to elect to continue to participate in the plan for periods after such              last payment (other than through an election of a different time and form of payment with              respect to the amounts paid).                        (A)  For purposes of Section 4.01(d), as used in the first paragraph of the definition of                   “Active Participant” above, “plan” means an account balance plan (or portion                   thereof) of the Employer or a Related Employer subject to Code section 409A                   pursuant to which the Participant is eligible to accrue benefits only if the Participant                   elects to defer compensation thereunder, and the “date the Participant becomes a                   Participant under Section 3.01” refers only to the date the Participant becomes a                   Participant with respect to Deferral Contributions.                               (B)  For purposes of Section 8.01(a)(2), as used in the first paragraph of the definition of                   “Active Participant” above, “plan” means an account balance plan (or portion                   thereof) of the Employer or a Related Employer subject to Code section 409A                   pursuant to which the Participant is eligible to accrue benefits without any election                   by the Participant to defer compensation thereunder, and the “date the Participant                   becomes a Participant under Section 3.01” refers only to the date the Participant                   becomes a Participant with respect to Matching or Employer Contributions.      (07/2007)                               1                            ECM NQ 2007 BPD                                                                                               ©  2007 Fidelity Management & Research Company    

 

           (3)  "Administrator" means the Employer adopting this Plan (but excluding Related Employers)          or other person designated by the Employer in Section 1.01(c).            (4)  "Adoption Agreement" means Article 1, under which the Employer establishes and adopts          or amends the Plan and selects certain provisions of the Plan.  The provisions of the Adoption          Agreement are an integral part of the Plan.            (5)  "Beneficiary" means the person or persons entitled under Section 7.02 to receive benefits          under the Plan upon the death of a Participant.             (6)  “Bonus” means any Performance-based Bonus or any Non-performance-based Bonus as          listed and identified in the table in Section 1.05(a)(2) hereof.            (7)   “Change in Control” means a change in control with respect to the applicable corporation,          as defined in 26 CFR section 1.409A-3(i)(5).  For purposes of this definition “applicable          corporation” means:                      (A) The corporation for which the Participant is performing services at the time of the change               in control event;                        (B) The corporation(s) liable for payment hereunder (but only if either the accrued benefit               hereunder is attributable to the performance of service by the Participant for such               corporation(s) or there is a bona fide business purpose for such corporation(s) to be liable               for such payment and, in either case, no significant purpose of making such               corporation(s) liable for such benefit is the avoidance of Federal income tax); or                        (C) A corporate majority shareholder of one of the corporations described in (A) or (B) above               or any corporation in a chain of corporations in which each corporation is a majority               shareholder of another corporation in the chain, ending in a corporation identified in (A)               or (B) above.            (8)    "Code" means the Internal Revenue Code of 1986, as amended from time to time.            (9)    "Compensation" means for purposes of Article 4:              (A)  If the Employer elects Section 1.04(a), such term as defined in such Section 1.04(a).                   (B) If the Employer elects Section 1.04(b), wages as defined in Code section 3401(a) and all               other payments of compensation to an Employee by the Employer (in the course of the               Employer’s trade or business) for which the Employer is required to furnish the               Employee a written statement under Code sections 6041(d) and 6051(a)(3), excluding               any items elected by the Employer in Section 1.04(b), reimbursements or other expense               allowances, fringe benefits (cash and non-cash), moving expenses, deferred               compensation and welfare benefits, but including amounts that are not includable in the               gross income of the Employee under a salary reduction agreement by reason of the               application of Code section 125, 132(f)(4), 402(e)(3), 402(h) or 403(b).  Compensation               shall be determined without regard to any rules under Code section 3401(a) that limit the               remuneration included in wages based on the nature or location of the employment or the               services performed (such as the exception for agricultural labor in Code section               3401(a)(2)).                                                     (07/2007)                               2                            ECM NQ 2007 BPD                                                                                               ©  2007 Fidelity Management & Research Company    

 

             (C) If the Employer elects Section 1.04(c), any and all monetary remuneration paid to the               Director by the Employer, including, but not limited to, meeting fees and annual               retainers, and excluding items listed in Section 1.04(c).                              For purposes of this Section 2.01(a)(9), Compensation shall also include amounts deferred              pursuant to an election under Section 4.01.                       (10)   “Deferral Contribution” means a hypothetical contribution credited to a Participant’s           Account as the result of the Participant’s election to reduce his Compensation in exchange for           such credit, as described in Section 4.01.                      (11)  “Director” means a person, other than an Employee, who is elected or appointed as a           member of the board of directors of the Employer, with respect to a corporation, or to an           analogous position with respect to an entity that is not a corporation.                      (12)  “Disability” is described in Section 1.07(a)(2).             (13)  "Employee" means any employee of the Employer.             (14)  "Employer" means the employer named in Section 1.02(a) and any Related Employers           listed in Section 1.02(b).             (15) “Employer Contribution” means a hypothetical contribution credited to a Participant’s           Account under the Plan as a result of the Employer’s crediting of such amount, as described in           Section 4.03.             (16) "Employment Commencement Date" means the date on which the Employee commences           employment with the Employer.                      (17)  "ERISA" means the Employee Retirement Income Security Act of 1974, as from time to           time amended.             (18)   “Inactive Participant” means a Participant who is not an Employee or Director.                       (19) “Matching Contribution” means a hypothetical contribution credited to a Participant’s           Account under the Plan as a result of the Employer’s crediting of such amount, as described in           Section 4.02.                      (20)  “Non-performance-based Bonus” means any Bonus listed under the column entitled “non-          performance based” in Section 1.05(a)(2).                       (21)  "Participant" means any Employee or Director who participates in the Plan in accordance           with Article 3 (or formerly participated in the Plan and has an amount credited to his Account).                      (22)  “Performance-based Bonus” means any Bonus listed under the column entitled           “performance based” in Section 1.05(a)(2), which constitutes compensation, the amount of, or           entitlement to, which is contingent on the satisfaction of pre-established organizational or          individual performance criteria relating to a performance period of at least 12 consecutive          months and which is further defined in 26 CFR section 1.409A-1(e).            (23)  "Permissible Investment" means the investments specified by the Employer as available          for hypothetical investment of Accounts.  The Permissible Investments under the Plan are listed          in the Service Agreement, and the provisions of the Service Agreement listing the Permissible          Investments are hereby incorporated herein.           (07/2007)                               3                            ECM NQ 2007 BPD                                                                                               ©  2007 Fidelity Management & Research Company    

 

           (24)  "Plan" means the plan established by the Employer as set forth herein as a new plan or as          an amendment to an existing plan, such establishment to be evidenced by the Employer’s          execution of the Adoption Agreement, together with any and all amendments hereto.                    (25)  "Related Employer" means any employer other than the Employer named in Section          1.02(a), if the Employer and such other employer are members of a controlled group of          corporations (as defined in Code section 414(b)) or trades or businesses (whether or not          incorporated) under common control (as defined in Code section 414(c)).                    (26)  “Separation from Service” means the date the Participant retires or otherwise has a          termination of employment (or a termination of the contract pursuant to which the Participant          has provided services as a Director, for a Director Participant) with the Employer and all          Related Employers, as further defined in 26 CFR section 1.409A-1(h); provided, however, that                         (A)   For purposes of this paragraph (26), the definition of “Related Employer” shall be               modified as follows:                                    (i)  In applying Code section 1563(a)(1), (2) and (3) for purposes of                     determining a controlled group of corporations under Code section 414(b), the                     phrase “at least 50%” shall be used instead of “at least 80 percent” each place “at                     least 80 percent” appears in Code section 1563(a)(1), (2) and (3); and                                          (ii)  In applying 26 CFR section 1.414(c)-2 for purposes of determining trades                     or business (whether or not incorporated) under common control for purposes of                     Code section 414(c), the phrase “at least 50%” shall be used instead of “at least 80                     percent” each place “at least 80 percent” appears in 26 CFR section 1.414(c)-2.                                    (B)   In the event a Participant provides services to the Employer or a Related               Employer as an Employee and a Director,                                   (i)  The Employee Participant’s services as a Director are not taken into account                    in determining whether the Participant has a Separation from Service as an                    Employee; and                                           (ii)  The Director Participant’s services as an Employee are not taken into                     account in determining whether the Participant has a Separation from Service as a                     Director                              provided that this Plan is not aggregated with a plan subject to Code section 409A in               which the Director Participant participates as an employee of the Employer or a Related               Employer or in which the Employee Participant participates as a director (or a similar               position with respect to a non-corporate entity) of the Employer or a Related Employer,               as applicable, pursuant to 26 CFR section 1.409A-1(c)(2)(ii).                    (27)  “Service Agreement” means the agreement between the Employer and Trustee regarding          the arrangement between the parties for recordkeeping services with respect to the Plan.            (28)  “Specified Employee,” (unless defined by the Employer in a separate writing, in which          case such writing is hereby incorporated herein) means a Participant who meets the          requirements in 26 CFR section 1.409A-1(i) applying the default definition components          provided in such regulation (those that would apply absent elections, as described in 26 CFR          section 1.409A-1(i)(8)), including an identification date of December 31.  In the event that such           default definition components are applicable, the Employer has elected Section 1.01(b)(2) and,           immediately prior to the date in Section 1.01(b)(2), the Plan applied an identification date (the           “prior date”) other than the December 31, the prior date shall continue to apply, and December           31 shall not apply, until the date that is 12 months after the date in Section 1.01(b)(2).    (07/2007)                               4                            ECM NQ 2007 BPD                                                                                               ©  2007 Fidelity Management & Research Company    

 

                 (29)  "Trust" means the trust created by the Employer, pursuant to the Trust agreement between          the Employer and the Trustee, under which assets are held, administered, and managed, subject          to the claims of the Employer's creditors in the event of the Employer's insolvency, until paid to          Participants and their Beneficiaries as specified in the Plan.                    (30)  "Trust Fund" means the property held in the Trust by the Trustee.                    (31)  "Trustee" means the individual(s) or entity appointed by the Employer under the Trust          agreement.                    (32)  “Unforeseeable Emergency” is as defined in 26 CFR section 1.409A-3(i)(3)(i).                    (33)  “Year of Service” is as defined in Section 7.03(b) for purposes of the elapsed time method          and in Section 7.03(c) for purposes of the class year method.         (b)  Pronouns used in the Plan are in the masculine gender but include the feminine gender unless       the context clearly indicates otherwise.      Article 3.  Participation.    3.01.  Date of Participation.  An Employee or Director becomes a Participant on the date such Employee’s  or Director’s participation becomes effective (as described in Section 1.03).    3.02. Participation following a Change in Status.         (a)  If a Participant ceases to be an Employee or Director and thereafter resumes the same status he       had as a Participant during his immediately previous participation in the Plan (as an Employee if       previously a Participant as an Employee and as a Director if previously a Participant as a Director),       he will again become a Participant immediately upon resumption of such status, provided, however,       that if such Participant is a Director, he is an eligible Director upon resumption of such status (as       defined in Section 1.03(b)), and provided, further, that if such Participant is an Employee, he is an       eligible Employee upon resumption of such status (as defined in Section 1.03(a)).  Deferral       Contributions to such Participant’s Account thereafter, if any, shall be subject to (1) or (2) below.                 (1) If the Participant resumes such status during a period for which such Participant had              previously made a valid deferral election pursuant to Section 4.01, he shall immediately              resume such Deferral Contributions.  Deferral Contributions applicable to periods              thereafter shall be made pursuant to the election and other rules described in Section 4.01.                               (2) If the Participant resumes such status after the period described in the first sentence of              paragraph (1) of this Section 3.02, any Deferral Contributions with respect to such              Participant shall be made pursuant to the election and other rules described in Section 4.01.              (b) When an individual who is a Participant due to his status as an eligible Employee (as defined in       Section 1.03(a)) continues in the employ of the Employer or Related Employer but ceases to be an       eligible Employee, the individual shall not receive an allocation of Matching or Employer       Contributions for the period during which he is not an eligible Employee.  Such Participant shall       continue to make Deferral Contributions throughout the remainder of the applicable period (as       described in Section 4.01) in which such change in status occurs, if, and as, applicable.                         (07/2007)                               5                            ECM NQ 2007 BPD                                                                                               ©  2007 Fidelity Management & Research Company    

 

                        (c) When an individual who is a Participant due to his status as an eligible Director (as defined in       Section 1.03(b)) continues his directorship with the Employer or a Related Employer but ceases to       be an eligible Director, the individual shall not receive an allocation of Matching or Employer       Contributions for the period during which he is not an eligible Director.  Such Participant shall       continue to make Deferral Contributions throughout the remainder of the applicable period (as       described in Section 4.01) in which such change in status occurs, if, and as, applicable.       Article 4.  Contributions.    4. 01  Deferral Contributions.  If elected by the Employer pursuant to Section 1.05(a) and/or 1.06(a), a       Participant described in such applicable Section may elect to reduce his Compensation by a specified       percentage or dollar amount.  The Employer shall credit an amount to the Participant’s Account equal       to the amount of such reduction.  Except as otherwise provided in this Section 4.01, such election       shall be effective to defer Compensation relating to all services performed in the calendar year       beginning after the calendar year in which the Participant executes the election.  Under no       circumstances may a salary reduction agreement be adopted retroactively.  If the Employer has       elected to apply Section 1.05(a)(2), no amount will be deducted from Bonuses unless the Participant       has made a separate deferral election applicable to such Bonuses.  A Participant’s election to defer       Compensation may be changed at any time before the last permissible date for making such election,       at which time such election becomes irrevocable.  Notwithstanding anything herein to the contrary,       the conditions under which a Participant may make a deferral election as provided in the applicable       salary reduction agreement are hereby incorporated herein and supersede any otherwise inconsistent       Plan provision.         (a) Performance Based Bonus.  With respect to a Performance-based Bonus, a separate election           made pursuant to Section 1.05(a)(2) will be effective to defer such Bonus if made no later than 6           months before the end of the period during which the services on which such Performance-          based Bonus is based are performed.              (b) Fiscal Year Bonus. With respect to a Bonus relating to a period of service coextensive with one           or more consecutive fiscal years of the Employer, of which no amount is paid or payable during           the service period, a separate election pursuant to Section 1.05(a)(2) will be effective to defer           such Bonus if made no later than the close of the Employer’s fiscal year next preceding the first           fiscal year in which the Participant performs any services for which such Bonus is payable.          (c) Cancellation of Salary Reduction Agreement.                              (1) The Administrator may cancel a Participant’s salary reduction agreement pursuant to                the provisions of 26 CFR section 1.409A-3(j)(4)(viii) in connection with the Participant’s                Unforeseeable Emergency.  To the extent required pursuant to the application of 26 CFR                section 1.401(k)-1(d)(3) (or any successor thereto), a Participant’s salary reduction                agreement shall be automatically cancelled.                                        (2) The Administrator may cancel a Participant’s salary reduction agreement pursuant to                the provisions of 26 CFR section 1.409A-3(j)(4)(xii) in connection with the Participant’s                disability.  Such cancellation must occur by the later of the end of the Participant’s                taxable year or the 15th day of the third month following the date the Participant incurs a                disability.  For purposes of this paragraph (2), a disability is any medically determinable                physical or mental impairment resulting in the Participant’s inability to perform the duties                of his or her position or any substantially similar position, where such impairment can be                expected to result in death or can be expected to last for a continuous period of not less                than six months.       (07/2007)                               6                            ECM NQ 2007 BPD                                                                                               ©  2007 Fidelity Management & Research Company    

 

          In no event may the Participant, directly or indirectly, elect such a cancellation.  A cancellation       pursuant to this subsection (c) shall apply only to Compensation not yet earned.         (d) Initial Deferral Election.   Notwithstanding the above, if the Participant is not an Active           Participant, the Participant may make an election to defer Compensation within 30 days after the           Participant becomes a Participant, which election shall be effective with respect to           Compensation payable for services performed during the calendar year (or other deferral period           described in (a) or (b) above, as applicable) and after the date of such election.  For           Compensation that is earned based upon a specified performance period (e.g., an annual bonus)           an election pursuant to this subsection (d) will be effective to defer an amount equal to the total           amount of the Compensation for the performance period multiplied by the ratio of the number of           days remaining in the performance period after the election over the total number of days in the           performance period.             4.02.  Matching Contributions.  If so provided by the Employer in Section 1.05(b) and/or 1.06(b)(1), the  Employer shall credit a Matching Contribution to the Account of each Participant entitled to such Matching  Contribution.  The amount of the Matching Contribution shall be determined in accordance with Section  1.05(b) and/or 1.06(b)(1), as applicable, provided, however, that the Matching Contributions credited to the  Account of a Participant pursuant to Section 1.05(b)(2) shall be limited pursuant to (a) and (b) below:           (a) The sum of Matching Contributions made on behalf of a Participant pursuant to Section 1.05(b)(2)         for any calendar year and any other benefits the Participant accrues pursuant to another plan subject to         Code section 409A as a result of such Participant’s action or inaction under a qualified plan with         respect to elective deferrals and other employee pre-tax contributions subject to the contribution         restrictions under Code section 401(a)(30) or 402(g) shall not result in an increase in the amounts         deferred under all plans subject to Code section 409A in which the Participant participates in excess of         the limit with respect to elective deferrals under Code section 402(g)(1)(A), (B) and (C) in effect for         the calendar year in which such action or inaction occurs; and                  (b) The Matching Contributions made on behalf of a Participant pursuant to Section 1.05(b)(2) shall         never exceed 100% of the matching amounts that would be provided under the qualified employer plan         identified in Section 1.05(b)(2) absent any plan-based restrictions that reflect limits on qualified plan         contributions under the Code.    4.03. Employer Contributions.   If so provided by the Employer in Section 1.05(c)(1) and/or 1.06(b)(2),  the Employer shall make an Employer Contribution to be credited to the Account of each Participant  entitled thereto in the amount provided in such Section(s).  If so provided by the Employer in Section  1.05(c)(2) and/or 1.06(b)(3), the Employer may make an Employer Contribution to be credited to the  Account maintained on behalf of any Participant in such an amount as the Employer, in its sole discretion,  shall determine, subject to the provisions of the applicable Section.    4.04. Election Forms.   Notwithstanding anything herein to the contrary, the terms of an election form with  respect to the conditions under which a Participant may make any election hereunder, as provided in such  form (whether electronic or otherwise) are hereby incorporated herein and supersede any otherwise  inconsistent Plan provision.    Article 5.  Participants' Accounts.  The Administrator will maintain an Account for each Participant,  reflecting hypothetical contributions credited to the Participant, along with hypothetical earnings, expenses,  gains and losses, pursuant to the terms hereof.  A hypothetical contribution shall be credited to the Account  of a Participant on the date determined by the Employer and accepted by the Plan recordkeeper.  The  Administrator will maintain such other accounts and records as it deems appropriate to the discharge of its  duties under the Plan.        (07/2007)                               7                            ECM NQ 2007 BPD                                                                                               ©  2007 Fidelity Management & Research Company    

 

   Article 6.  Investment of Accounts.    6.01.  Manner of Investment.  All amounts credited to the Accounts of Participants shall be treated as  though invested and reinvested only in Permissible Investments.    6.02.   Investment Decisions, Earnings and Expenses.  Investments in which the Accounts of Participants  shall be treated as invested and reinvested shall be directed by the Employer or by each Participant, or both,  in accordance with Section 1.09.  All dividends, interest, gains, and distributions of any nature that would  be earned on a Permissible Investment will be credited to the Account as though reinvested in additional  shares of that Permissible Investment.  Expenses that would be attributable to such investments shall be  charged to the Account of the Participant.      Article 7.   Right to Benefits.    7.01.  Retirement.  If provided by the Employer in Section 1.08(e)(1), the Account of a Participant or an  Inactive Participant who attains retirement eligibility prior to a Separation from Service will be 100%  vested.         7.02.  Death.  If provided by the Employer in Section 1.08(e)(2), the Account of a Participant or former  Participant who dies before the distribution of his entire Account will be 100% vested, provided that at the  time of his death he is earning Years of Service.    A Participant may designate a Beneficiary or Beneficiaries, or change any prior designation of Beneficiary  or Beneficiaries, by giving notice to the Administrator on a form designated by the Administrator.  If more  than one person is designated as the Beneficiary, their respective interests shall be as indicated on the  designation form.    A copy of the death certificate or other sufficient documentation must be filed with and approved by the  Administrator.  If upon the death of the Participant there is, in the opinion of the Administrator, no  designated Beneficiary for part or all of the Participant's Account, such amount will be paid to his surviving  spouse or, if none, to his estate (such spouse or estate shall be deemed to be the Beneficiary for purposes of  the Plan).  If a Beneficiary dies after benefits to such Beneficiary have commenced, but before they have  been completed, and, in the opinion of the Administrator, no person has been designated to receive such  remaining benefits, then such benefits shall be paid to the deceased Beneficiary's estate.    A distribution to a Beneficiary of a Specified Employee is not considered to be a payment to a Specified  Employee for purposes of Sections 1.07 and 8.01(e).    7.03.  Separation from Service.         (a) General.  If provided by the Employer in Section 1.08, and subject to Section 1.08(e)(2), if a           Participant has a Separation from Service, he will be entitled to a benefit equal to (i) the vested           percentage(s) of the value of the Matching and Employer Contributions credited to his Account,           as adjusted for income, expense, gain, or loss, such percentage(s) determined in accordance with           the vesting schedule(s) and methodology selected by the Employer in Section 1.08, and (ii) the           value of the Deferral Contributions to his Account as adjusted for income, expense, gain, or           loss.  The amount payable under this Section 7.03 will be distributed in accordance with Article           8.                                              (07/2007)                               8                            ECM NQ 2007 BPD                                                                                               ©  2007 Fidelity Management & Research Company    

 

        (b) Elapsed Time Vesting.   Unless otherwise provided by the Employer in Section 1.08, vesting           shall be determined based on the elapsed time method.  For purposes of the elapsed time           method, "Years of Service" means, with respect to any Participant or Inactive Participant, the           number of whole years of his periods of service with the Employer and any Related Employers           (as defined in Section 2.01(a)(26)(A)), subject to any exclusion elected by the Employer in           Section 1.08(c).  A Participant or Inactive Participant will receive credit for the aggregate of all           time period(s) commencing with his Employment Commencement Date and ending on the date           a break in service begins, unless any such years are excluded by Section 1.08(c).  A Participant           or Inactive Participant will also receive credit for any period of severance of less than 12           consecutive months.  Fractional periods of a year will be expressed in terms of days.                    A break in service is a period of severance of at least 12 consecutive months.  A “period of          severance” is a continuous period of time beginning on the date the Participant or Inactive          Participant incurs a Separation from Service, or if earlier, the 12-month anniversary of the date          on which the Participant or Inactive Participant was otherwise first absent from service.                      Notwithstanding the above, the Employer shall comply with any service crediting rules to the           extent required by applicable law.               (c) Class Year Vesting.  If provided by the Employer in Section 1.08, a Participant’s or Inactive           Participant’s vested percentage in the Matching Contributions and/or Employer Contributions           portion(s) of his Account shall be determined pursuant to the class year method.  Pursuant to           such method, amounts attributable to the applicable contribution types are assigned to “class           years” established in the records of the Plan.  Such class years are years (calendar or non-          calendar) to which the contribution is assigned by the Administrator, as described in the Service           Agreement between the Trustee and the Employer.  The Participant’s or Inactive Participant’s          vested percentage in amounts attributable to a particular contribution is determined from the          beginning of the applicable class year to the date the Participant or Inactive Participant incurs a          Separation from Service.  For purposes of the class year method, a Participant or Inactive          Participant is credited with a Year of Service on the first day of each such class year.    7.04.  Vesting after Partial Distribution.  If a distribution from a Participant's Account has been made to  him at a time when his Account is less than 100% vested, the vesting schedule in Section 1.08 will  thereafter apply only to amounts in his Account attributable to Matching Contributions and Employer  Contributions credited after such distribution.  The balance of his Account attributable to Matching  Contributions and Employer Contributions immediately after such distribution will be subject to the  following for the purpose of determining his interest therein.    At any relevant time prior to a forfeiture of any portion thereof under Section 7.05, a Participant's  nonforfeitable interest in the portion of his Account described in the sentence immediately above will be  equal to P(AB + (RxD))-(RxD), where P is the nonforfeitable percentage at the relevant time determined  under Section 1.08; AB is the account balance of such portion at the relevant time; D is the amount of the  distribution; and R is the ratio of the account balance of such portion at the relevant time to the account  balance of such portion after distribution.  Following a forfeiture of any portion of such portion under  Section 7.05 below, any balance with respect to such portion will remain fully vested and nonforfeitable.    7.05.  Forfeitures.  Once payments are to commence to a Participant or Inactive Participant hereunder, the  portion of such Account subject to the same payment commencement date but not yet vested, if any,  (determined by his vested percentage at such payment commencement date) will be forfeited by him    7.06.  Change in Control.  If the Employer has elected to apply Section 1.07(a)(3)(D), then, upon a  Change in Control, notwithstanding any other provision of the Plan to the contrary, all Participant Accounts  shall be 100% vested.      (07/2007)                               9                            ECM NQ 2007 BPD                                                                                               ©  2007 Fidelity Management & Research Company    

 

   7.07.  Disability.  If the Employer has elected to apply Section 1.08(e)(3), then, upon the date a Participant  incurs a Disability, as defined in Section 1.07(a)(2), notwithstanding any other provision of the Plan to the  contrary, all Accounts of such Participant shall be 100% vested.    7.08.  Directors.  Notwithstanding any other provision of the Plan to the contrary, all Accounts of a  Participant who is a Director shall be 100% vested at all times, including Accounts attributable to the  Participant’s service as an Employee, if any.      Article 8.  Distribution of Benefits.            8.01 Events Triggering, and Form of, Distributions.           (a) Events triggering the distribution of benefits and the form of such distributions are described in           Section 1.07(a), pursuant to the Employer’s election and/or the Participant’s election, as           applicable.                        (1) With respect to the form and time of distribution of amounts attributable to a                     Deferral Contribution, a Participant election must be made no later than the time                     by which the Participant must elect to make a Deferral Contribution, as described                     in Section 4.01.                                  (2) With respect to the form and time of distribution of amounts attributable to                     Matching or Employer Contributions, a Participant election must be made no later                     than the time by which a Participant would be required to make a Deferral                     Contribution as described in Section 4.01 with respect to the calendar year for                     which the Matching and/or Employer Contributions are credited.  For purposes of                     applying Section 4.01(d) “Active Participant” shall have the meaning assigned in                     Section 2.01(a)(2)(B).                   (3) Notwithstanding anything herein to the contrary, an election choosing a                     distribution trigger and payment method pursuant to Section 1.07(a)(1) will only                     be effective with respect to amounts attributable to contributions credited to the                     Participant’s Account for the calendar year (or other deferral period described in                     4.01(a) or (b)) to which such election relates.  Amounts attributable to                     contributions credited to a Participant's account prior to the effective date of any                     new election will not be affected and will be paid in accordance with the otherwise                     applicable election.              (b)  If the Employer elects to permit a distribution election change pursuant to Section 1.07(b), then          any such distribution election change must satisfy (1) through (3) below:                 (1)  Such election may not take effect until at least 12 months after the date on which such              election is made.                    (2)  In the case of an election related to a payment not on account of Disability, death or the              occurrence of an Unforeseeable Emergency, the payment with respect to which such              election is made must be deferred for a period of not less than five years from the date such              payment would otherwise have been paid (or in the case of installment payments, five years              from the date the first amount was scheduled to be paid).                                                      (07/2007)                              10                            ECM NQ 2007 BPD                                                                                               ©  2007 Fidelity Management & Research Company    

 

           (3)  Any election related to a payment at a specified time or pursuant to a fixed schedule may              not be made less than 12 months prior to the date the payment is scheduled to be paid (or in              the case of installment payments, 12 months prior to the date the first amount was              scheduled to be paid).                    With respect to any initial distribution election, a Participant shall in no event be permitted to          make more than one distribution election change.          (c)  A Participant’s entitlement to installments will not be treated as an entitlement to a series of           separate payments.              (d)  If the Plan does not provide for Plan-level payment triggers pursuant to Section 1.07(a)(3), and           the Participant does not designate in the manner prescribed by the Administrator the method of          distribution, and/or the distribution trigger (if and as required), such method of distribution shall          be a lump sum at Separation from Service.              (e)  Notwithstanding anything herein to the contrary, with respect to any Specified Employee, if the           applicable payment trigger is Separation from Service, then payment shall not commence before           the date that is six months after the date of Separation from Service (or, if earlier, the date of           death of the Specified Employee, pursuant to Section 7.02).  Payments to which a Specified           Employee would otherwise be entitled during the first six months following the date of           Separation from Service are delayed by six months.              (f)  Notwithstanding anything herein to the contrary, the Administrator may, in its discretion,           automatically pay out a Participant’s vested Account in a lump sum, provided that such payment           satisfies the requirements in (1) through (3) below:                 (1) Such payment results in the termination and liquidation of the entirety of the Participant’s              interest under the plan (as defined in 26 CFR section 1.409A-1(c)(2)), including all              agreements, methods, programs, or other arrangements with respect to which deferrals of              compensation are treated as having been deferred under a single nonqualified deferred              compensation plan under 26 CFR section 1.409A-1(c)(2);                    (2) Such payment is not greater than the applicable dollar amount under Code section              402(g)(1)(B); and            (3) Such exercise of Administrator discretion is evidenced in writing no later than the date of              such payment.                 (g)  Notwithstanding anything herein to the contrary, the Administrator may, in its discretion, delay           a payment otherwise required hereunder to a date after the designated payment date due to any           of the circumstances described in (1) through (4) below, provided that the Administrator treats           all payments to similarly situated Participants on a reasonably consistent basis.                 (1) In the event the Administrator reasonably anticipates that, if the payment were made as              scheduled, the Employer’s deduction with respect to such payment would not be permitted              due to the application of Code section 162(m), provided the delay complies with the              conditions in 26 CFR section 1.409A-2(b)(7)(i).                    (2) In the event the Administrator reasonably anticipates that the making of such payment will              violate Federal securities laws or other applicable law, provided the delay complies with the              conditions in 26 CFR section 1.409A-2(b)(7)(ii).            (3) Upon such other events and conditions as the Commissioner of the Internal Revenue              Service may prescribe in generally applicable guidance published in the Internal Revenue              Bulletin.    (07/2007)                              11                            ECM NQ 2007 BPD                                                                                               ©  2007 Fidelity Management & Research Company    

 

             (4) Upon a change in control event, provided the delay complies with conditions in 26 CFR              section 1.409A-3(i)(5)(iv).                (h)  Notwithstanding anything herein to the contrary, the Administrator may provide an election to           change the time or form of a payment hereunder to satisfy the requirements of the Uniformed           Services Employment and Reemployment Rights Act of 1994, as amended, 38 USC sections           4301 through 4344.           8.02.  Notice to Trustee.  The Administrator will provide direction to the Trustee, as provided in the Trust  agreement, whenever any Participant or Beneficiary is entitled to receive benefits under the Plan.  The  Administrator's notice shall indicate the form, amount and frequency of benefits that such Participant or  Beneficiary shall receive.    8.03.  Unforeseeable Emergency Withdrawals.  Notwithstanding anything herein to the contrary, a  Participant may apply to the Administrator to withdraw some or all of his Account if such withdrawal is  made on account of an Unforeseeable Emergency as determined by the Administrator in accordance with  the requirements of and subject to the limitations provided in 26 CFR section 1.409A-3(i)(3).    Article 9.  Amendment and Termination.    9.01  Amendment by Employer.  The Employer reserves the authority to amend the Plan in its discretion.   Any such amendment notwithstanding, no Participant's Account shall be reduced by such amendment  below the amount to which the Participant would have been entitled if he had voluntarily left the employ of  the Employer immediately prior to the date of the change.      9.02.  Termination.  The Employer has no obligation or liability whatsoever to maintain the Plan for any  length of time and may terminate the Plan at any time by written notice delivered to the Trustee without  any liability hereunder for any such discontinuance or termination.  Such termination shall comply with 26  CFR section 1.409A-3(j)(4)(ix) and other applicable guidance.      Article 10.  Miscellaneous.    10.01.  Communication to Participants.  The Plan will be communicated to all Participants by the  Employer promptly after the Plan is adopted.    10.02.  Limitation of Rights.  Neither the establishment of the Plan and the Trust, nor any amendment  thereof, nor the creation of any fund or account, nor the payment of any benefits, will be construed as  giving to any Participant or other person any legal or equitable right against the Employer, Administrator or  Trustee, except as provided herein; in no event will the terms of employment or service of any individual  be modified or in any way affected hereby.    10.03.  Nonalienability of Benefits.  The benefits provided hereunder will not be subject to alienation,  assignment, garnishment, attachment, execution or levy of any kind, either voluntarily or involuntarily, and  any attempt to cause such benefits to be so subjected will not be recognized, except to such extent as may  be required by law and as provided pursuant to a domestic relations order (defined in Code section  414(p)(1)(B)), as determined by the Administrator.  Pursuant to a domestic relations order, payments may  be accelerated to a time sooner, and pursuant to a schedule more rapid, than the time and schedule  applicable in the absence of the domestic relations order, provided that such payment pursuant to such  order is not made to the Participant and provided further that this provision shall not be construed to  provide the Participant discretion regarding whether such payment time or schedule will be accelerated.          (07/2007)                              12                            ECM NQ 2007 BPD                                                                                               ©  2007 Fidelity Management & Research Company    

 

   10.04.  Facility of Payment.  In the event the Administrator determines, on the basis of medical reports or  other evidence satisfactory to the Administrator, that the recipient of any benefit payments under the Plan is  incapable of handling his affairs by reason of minority, illness, infirmity or other incapacity, the  Administrator may disburse such payments, or direct the Trustee to disburse such payments, as applicable,  to a person or institution designated by a court which has jurisdiction over such recipient or a person or  institution otherwise having the legal authority under State law for the care and control of such recipient.   The receipt by such person or institution of any such payments shall be complete acquittance therefore, and  any such payment to the extent thereof, shall discharge the liability of the Trust for the payment of benefits  hereunder to such recipient.    10.05.   Plan Records.  The Administrator shall maintain the records of the Plan on a calendar-year basis.    10.06. USERRA.  Notwithstanding anything herein to the contrary, the Administrator shall permit any  Participant election and make any payments hereunder required by the Uniformed Services Employment  and Reemployment Rights Act of 1994, as amended, 38 USC 4301-4334.    10.07. Governing Law.  The Plan and the accompanying Adoption Agreement will be construed,  administered and enforced according to ERISA, and to the extent not preempted thereby, the laws of the  State in which the Employer has its principal place of business, without regard to the conflict of laws  principles of such State.        Article 11.  Plan Administration.    11.01.  Powers and Responsibilities of the Administrator.  The Administrator has the full power and the  full responsibility to administer the Plan in all of its details, subject, however, to the applicable  requirements of ERISA.  The Administrator's powers and responsibilities include, but are not limited to, the  following:         (a)  To make and enforce such rules and regulations as it deems necessary or proper for the efficient       administration of the Plan;              (b)  To interpret the Plan, its interpretation thereof in good faith to be final and conclusive on all       persons claiming benefits under the Plan;              (c)  To decide all questions concerning the Plan and the eligibility of any person to participate in the       Plan;              (d)  To administer the claims and review procedures specified in Section 11.02;              (e)  To compute the amount of benefits which will be payable to any Participant, former Participant       or Beneficiary in accordance with the provisions of the Plan;              (f)  To determine the person or persons to whom such benefits will be paid;              (g)  To authorize the payment of benefits;              (h)  To appoint such agents, counsel, accountants, and consultants as may be required to assist in       administering the Plan; and              (i)  By written instrument, to allocate and delegate its responsibilities, including the formation of an       administrative committee to administer the Plan.                                (07/2007)                              13                            ECM NQ 2007 BPD                                                                                               ©  2007 Fidelity Management & Research Company    

 

          11.02.  Claims and Review Procedures.                (a) Claims Procedure.  If any person believes he is being denied any rights or benefits under the       Plan, such person may file a claim in writing with the Administrator.  If any such claim is wholly or       partially denied, the Administrator will notify such person of its decision in writing.  Such       notification will contain (i) specific reasons for the denial, (ii) specific reference to pertinent Plan       provisions, (iii) a description of any additional material or information necessary for such person to       perfect such claim and an explanation of why such material or information is necessary, and (iv)       information as to the steps to be taken if the person wishes to submit a request for review, including       a statement of the such person’s right to bring a civil action under ERISA section 502(a) following       as adverse determination upon review.  Such notification will be given within 90 days after the claim       is received by the Administrator (or within 180 days, if special circumstances require an extension of       time for processing the claim, and if written notice of such extension and circumstances is given to       such person within the initial 90-day period).                If the claim concerns disability benefits under the Plan, the Plan Administrator must notify the       claimant in writing within 45 days after the claim has been filed in order to deny it.  If special       circumstances require an extension of time to process the claim, the Plan Administrator must notify       the claimant before the end of the 45-day period that the claim may take up to 30 days longer to       process.  If special circumstances still prevent the resolution of the claim, the Plan Administrator       may then only take up to another 30 days after giving the claimant notice before the end of the       original 30-day extension.  If the Plan Administrator gives the claimant notice that the claimant       needs to provide additional information regarding the claim, the claimant must do so within 45 days       of that notice.              (b) Review Procedure.  Within 60 days after the date on which a person receives a written notice of       a denied claim (or, if applicable, within 60 days after the date on which such denial is considered to       have occurred), such person (or his duly authorized representative) may (i) file a written request with       the Administrator for a review of his denied claim and of pertinent documents and (ii) submit written       issues and comments to the Administrator.  This written request may include comments, documents,       records, and other information relating to the claim for benefits.  The claimant shall be provided,       upon the claimant’s request and free of charge, reasonable access to, and copies of, all documents,       records, and other information relevant to the claim for benefits.  The review will take into account       all comments, documents, records, and other information submitted by the claimant relating to the       claim, without regard to whether such information was submitted or considered in the initial benefit       determination.  The Administrator will notify such person of its decision in writing.  Such       notification will be written in a manner calculated to be understood by such person and will contain       specific reasons for the decision as well as specific references to pertinent Plan provisions.  The       decision on review will be made within 60 days after the request for review is received by the       Administrator (or within 120 days, if special circumstances require an extension of time for       processing the request, such as an election by the Administrator to hold a hearing, and if written       notice of such extension and circumstances is given to such person within the initial 60-day period).       The extension notice shall indicate the special circumstances requiring an extension of time and the       date by which the Plan expects to render the determination on review.                If the initial claim was for disability benefits under the Plan and has been denied by the Plan       Administrator, the claimant will have 180 days from the date the claimant received notice of the       claim’s denial in which to appeal that decision.  The review will be handled completely       independently of the findings and decision made regarding the initial claim and will be processed by       an individual who is not a subordinate of the individual who denied the initial claim.  If the claim       requires medical judgment, the individual handling the appeal will consult with a medical       professional whom was not consulted regarding the initial claim and who is not a subordinate of       anyone consulted regarding the initial claim and identify that medical professional to the claimant.                  (07/2007)                              14                            ECM NQ 2007 BPD                                                                                               ©  2007 Fidelity Management & Research Company    

 

        The Plan Administrator shall provide the claimant with written notification of a plan’s benefit       determination on review.  In the case of an adverse benefit determination, the notification shall set       forth, in a manner calculated to be understood by the claimant – the specific reason or reasons for the       adverse determinations, reference to the specific plan provisions on which the benefit determination       is based, a statement that the claimant is entitled to receive, upon the claimant’s request and free of       charge, reasonable access to, and copies of, all documents, records, and other information relevant to       the claim for benefits.        (07/2007)                              15                            ECM NQ 2007 BPD                                                                                               ©  2007 Fidelity Management & Research CompanyExhibit

Exhibit 10.17

GERMAN AMERICAN BANCORP, INC.
MANAGEMENT LONG TERM INCENTIVE PLAN
Restricted Stock and/or Cash Award Grant Notice 

German American Bancorp, Inc., an Indiana corporation (together with any successor thereto, the “Company”), pursuant to its Long Term Management Incentive Plan in effect for the current plan year, hereby grants to the below-listed participant (“Participant”) (a) the number of shares of Restricted Stock set forth below, which shares are being granted under the Company’s 2019 Long-Term Equity Incentive Plan, as amended from time to time (the “Equity Plan”), and/or (b) the right to receive cash payments in the aggregate amount set forth below (the “LTI Cash Right” and, together with the Restricted Stock, collectively, the “Award”). The Award is subject to all of the terms and conditions set forth herein and in the Award Agreement attached hereto as Exhibit A (the “Award Agreement”) and the Equity Plan, as applicable, each of which are incorporated herein by reference.  Unless otherwise defined herein, the terms defined in the Equity Plan shall have the same defined meanings in this Grant Notice and the Award Agreement.
	
					
	Participant:
	 

	Global ID:
	 

	Award Type:
	 

	Plan Name:
	 

	 
	 

	Award Date:
	 

	Award Expiration Date:
	 

	 
	 

	Total Shares Granted:
	 

	Total Cash Granted (USD):
	 

	 
	 

	Vesting Schedule:
	 

	 
	 

	 
	Shares/Cash Awarded
	 
	Vesting Date

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

By selecting the “I Accept” button, Participant agrees to be bound by the terms and conditions of the Equity Plan, the Award Agreement and this Grant Notice. Participant has reviewed the Award Agreement, the Equity Plan and this Grant Notice in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully understands all provisions of this Grant Notice, the Award Agreement and the Equity Plan. Participant (on behalf of Participant and Participant’s estate, including Participant’s personal representatives, guardians, executors and heirs) hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Company’s Board of Directors, or of any Committee thereof administering the Award, upon any questions arising under the Equity Plan, this Grant Notice or the Award Agreement.

1

EXHIBIT A
TO AWARD GRANT NOTICE

German American Bancorp, Inc. Award Agreement

Pursuant to the Grant Notice (the “Grant Notice”) to which this Award Agreement (this “Agreement”) is attached, German American Bancorp, Inc., an Indiana corporation (together with any successor thereof, the “Company”), has granted to Participant (a) Restricted Stock under the Company’s 2019 Long-Term Equity Incentive Plan, as amended from time to time (the “Equity Plan”), and/or (b) the right to receive cash payments and credits (the “LTI Cash Right”), in each case as indicated in the Grant Notice.
Capitalized terms not specifically defined herein shall have the meanings specified in the Equity Plan and the Grant Notice, unless the context clearly indicates otherwise.  The Restricted Stock is subject to the terms and conditions of the Equity Plan which is incorporated herein by reference. In the event of any inconsistency between the Equity Plan and this Agreement, the terms of the Equity Plan shall control.
1.Grant of Award.  In consideration of Participant’s employment with or service to the Company or a Subsidiary and for other good and valuable consideration, effective as of the Grant Date set forth in the Grant Notice (the “Grant Date”), the Company has granted to Participant (a) the Restricted Stock, upon the terms and conditions set forth in the Grant Notice, the Equity Plan and this Agreement, subject to adjustments as provided in Section 5.04 of the Equity Plan, and/or (b) the LTI Cash Right, upon the terms and conditions set forth in the Grant Notice and this Agreement.

2.Vesting of the Award.  Subject to earlier forfeiture and cancellation pursuant to the Equity Plan and this Agreement and possible acceleration as provided by Article VI of the Equity Plan, Participant’s rights to retain the Award (including the Restricted Stock and the LTI Cash Right) will vest in such amounts and on such dates as set forth in the Grant Notice (each such date, a “Vesting Date”), with such vesting being deemed to occur as of 12:01 A.M. Jasper time on the morning of the applicable Vesting Date.  The period during which all or any portion of the Award is not vested shall be referred to herein as the “Restricted Period.”  The Compensation/Human Resources Committee of the Board of Directors of the Company, which administers the Equity Plan (the “Committee”), shall have the authority, in its sole judgment (which shall be conclusive and binding) to determine whether the conditions to vesting specified by this Agreement and the Equity Plan have been satisfied as of any Vesting Date or any other date, and to determine the exact amount(s) of shares of Restricted Stock and of the LTI Cash Right payment that is deemed to be vested and/or payable at any time.  Subject to the terms of the Equity Plan, the Committee may also waive the provisions of Section 5 or otherwise shorten the Restricted Period as to any portion or all of the Award, and in connection with such actions may cause the Award to vest at an earlier date, whenever the Committee may determine that such action is appropriate by reason of changes in applicable tax or other laws or accounting principles or interpretations, or by reason of other changes in circumstances occurring after the Grant Date.

3.Participant’s Rights in Award before Vesting.  Except as otherwise provided in this Agreement, Participant shall have all the rights of a holder of Shares in respect of each of Participant’s shares of Restricted Stock that are included in the Award during the Restricted Period, including, but not limited to, the right to receive all cash dividends paid on the Restricted Stock that are declared with a record date on or after the Grant Date and the right to vote the Restricted Stock on all matters to come for a vote by the holders of the Shares with a record date on or after the Grant Date.  Participant shall have no right to receive any benefit with respect to any unvested LTI Cash Right during the Restricted Period.

4.Non-Certificated Nature of Restricted Stock during the Restricted Period.  The Company has directed its registrar and transfer agent (the “Transfer Agent”) to issue the shares of Restricted Stock in Participant’s name as of the Grant Date, and to evidence the issuance of such shares of Restricted Stock to Participant by crediting the number of such shares of Restricted Stock to an account that has been established in Participant’s name on the Transfer Agent’s books. During the Restricted Period, the Company shall have no obligation to cause a certificate evidencing any of the shares of Restricted Stock (to the extent not yet vested) to be prepared or delivered.  Any cash dividends payable in 

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respect of the Restricted Stock during the Restricted Period pursuant to Section 3 shall be paid to Participant in cash, unless Participant otherwise directs, in which event such dividends will be paid to such account as Participant directs. 
 
5.Forfeiture and Cancellation of the Award in Certain Additional Cases
(a)Continuing Employment Condition.  If Participant’s period of continuing employment (the “Employment Period”) with the Company and its Subsidiaries terminates during the Restricted Period otherwise than by reason of a Qualifying Circumstance (as defined below), the then-unvested portion of the Award (including the Restricted Stock and all associated property and rights, and the LTI Cash Right) shall be forfeited and cancelled effective as of the last day of the Employment Period.  In the event of any forfeiture or cancellation of any portion of the Restricted Stock pursuant to this Section 5, such portion of Participant’s shares of Restricted Stock shall be deemed to have been reacquired by the Company and cancelled effective as of the last day of the Employment Period, and Participant therefore shall not have the right to receive any cash dividends or other distributions with respect to such portion of the Restricted Stock that are declared with a record date after the Employment Period.  If the Employment Period terminates during the Restricted Period by reason of a Qualifying Circumstance, the Award will be deemed to be fully earned and vested.  In the event that the vesting of the Award is accelerated as a result of a Qualifying Circumstance, (i) the Restricted Stock portion of the Award will fully vest as of the effective date of the Qualifying Circumstance, and (ii) any portion of such Award that represents the LTI Cash Right will be paid to Participant (or Participant’s estate, as applicable) within sixty (60) days following the effective date of the Qualifying Circumstance, but in no event later than March 15 of the year following such Qualifying Circumstance.  The existence or non-existence of a Qualifying Circumstance, and the existence and effective date of any termination of the Employment Period, shall, in the event of any uncertainty or dispute, be determined for all purposes under the Equity Plan and this Agreement by the Committee, whose judgment on such matters shall be conclusive and binding. 

(b)Qualifying Circumstance.  For purposes of this Section 5, a “Qualifying Circumstance” means, with reference to the termination of Participant’s employment with the Company and all Subsidiaries, one that occurs due to (i) Participant’s death or disability (as determined by any disability policy or program maintained by the Company), or (ii) such other event or circumstance that the Committee specifically approves and designates as a Qualifying Circumstance. 

(c)Immediate Vesting Caused by an Extraordinary Event.  If an Extraordinary Event (as defined by Section 6.06(d) of the Equity Plan) occurs during the Restricted Period, and prior to the date of any forfeiture and cancellation of the Award, then all of the Vesting Dates of the Award shall be deemed to have been accelerated to the date of the Extraordinary Event, and the Award (including the Restricted Stock and the LTI Cash Right) shall be deemed fully non-restricted and non-forfeitable as of such date.  In the event that the vesting of the Award is accelerated as a result of an Extraordinary Event, any portion of such Award that represents the LTI Cash Right will be paid to Participant within thirty (30) days of the occurrence of such Extraordinary Event. 

(d)Deemed Terminations (In Absence of Any Extraordinary Event).  For purposes of this Section 5, the Employment Period shall be deemed to terminate before the end of the Restricted Period, even if it does not actually so terminate, if, before the end of the Restricted Period, and before the occurrence of an Extraordinary Event (as defined by Section 6.06(d) of the Equity Plan), (i) Participant gives notice before the end of the Restricted Period to the Company or any of its Subsidiaries of the termination of Participant’s association with them in all capacities (whether as a director, officer, employee or consultant), (ii) Participant takes any action before the end of the Restricted Period, such as accepting another position, that, in the judgment of the Committee, indicates that Participant plans to terminate his or her association with the Company and its Subsidiaries, or (iii) the Company and/or any of its Subsidiaries gives notice prior to the end of the Restricted Period to Participant that his or her association with them in all capacities (whether as a director, officer, employee or consultant) is being terminated.   For the avoidance of doubt, Clauses (i), (ii) and (iii) concerning termination of association shall apply even if Participant’s termination of association is planned or stated not to become effective until after the end of the Restricted Period and Participant’s termination shall be deemed effective for purposes of this Section 5 as of the date of the notice or action described in Clauses (i), (ii), or (iii).

6.Non-Transferability.  Prior to expiration of the Restricted Period, Participant may not sell, assign, transfer, pledge or otherwise encumber any of Participant’s unvested rights under the Award, including the unvested portion of the Restricted Stock and of the LTI Cash Right. 

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7.Disclaimer of Employment Contract.  Nothing contained in this Agreement shall be construed as an obligation of the Company or any of its Subsidiaries or any other person to retain Participant in its employ.  

8.Securities Laws.  The Company’s obligation to issue to Participant, or to deliver to Participant any stock certificates evidencing, Shares hereunder shall, if the Committee so requests, be conditioned upon the Company’s receipt of a representation by Participant as to Participant’s investment intention, in such form as the Committee shall determine to be necessary or advisable to comply with the provisions of the Securities Act of 1933, as amended, or any other federal, state or local securities legislation.  The Company shall not be required to deliver any certificates for shares under this Agreement or to issue any shares hereunder prior to (i) the admission of such shares to listing on any stock exchange on which the Shares may then be listed, and (ii) the completion of such registration or other qualification of such shares under any state or federal law, rule or regulation, as the Committee shall determine to be necessary or advisable.

9.Code Section 409A.  

(a)The parties hereto intend that all benefits and payments to be made to the Participant hereunder will be provided or paid to him in compliance with all applicable provisions of Code Section 409A and the regulations issued thereunder, and the rulings, notices and other guidance issued by the Internal Revenue Service interpreting the same, and this Agreement shall be construed and administered in accordance with such intent.  The parties also agree that this Agreement may be modified, as reasonably requested by either party, to the extent necessary to comply with all applicable requirements of, and to avoid the imposition of any additional tax, interest and penalties under, Code Section 409A in connection with, the benefits and payments to be provided or paid to the Participant hereunder. Any such modification shall maintain the original intent and benefit to the Company and the Participant of the applicable provision of this Agreement, to the maximum extent possible without violating Code Section 409A. 

(b)All payments to be made upon a termination of employment under this Agreement may only be made upon a “separation from service” under Code Section 409A.  In no event may the Participant, directly or indirectly, designate the calendar year of a payment. 

(c)Any payments hereunder that qualify for the “short-term deferral” exception or another exception under Code Section 409A shall be paid under the applicable exception.  

(d)Notwithstanding the foregoing or anything to the contrary contained in any other provision of this Agreement, if the Participant is a “specified employee” at the time of his “separation from service” within the meaning of Code Section 409A, then any payment hereunder designated as being subject to Code Section 409A and this Subsection shall not be made until the first business day after (i) the expiration of six (6) months from the date of his separation from service, or (ii) if earlier, the date of his death (the “Delayed Payment Date”).  On the Delayed Payment Date, there shall be paid to the Participant or, if he has died, to his estate, in a single cash lump sum, an amount equal to the aggregate amount of the payments delayed pursuant to the preceding sentence.  The term “specified employee” shall mean any individual who, at any time during the twelve (12) month period ending on the identification date (as determined by the Company or its delegate), is a “specified employee” under Code Section 409A, as determined by the Company (or its delegate).  The determination of “specified employees,” including the number and identity of persons considered “specified employees” and identification date, shall be made by the Company (or its delegate) in accordance with the provisions of Sections 416(i) and 409A of the Code.

10.Tax and Other Withholding Obligations.  The Company’s obligation to pay or deliver to Participant the Restricted Stock and the LTI Cash Right payments  that together constitute the Award shall be subject to the Company’s compliance with applicable tax withholding and other required withholding or deductions, if any, with respect to the compensation realized by Participant as a result of having received the Award (including the non-cash compensation income that Participant may be deemed to realize for income tax purposes upon the lapsing of the restrictions upon all or any portion of the Award) including any deductions that may be required under the Company’s 

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employee benefit plans (collectively, the “Withholding”).  The Company intends to satisfy its Withholding with respect to any vesting or other taxable event with respect to the Award by charging the aggregate amount of the Withholding against the LTI Cash Right portion of the Award that may at such time otherwise be payable to Participant.  In the event that the LTI Cash Right portion of the Award is greater than the aggregate amount of the Withholding, the Company shall, as soon as practicable following the Vesting Date, pay to Participant the excess amount, without interest.  In the event that the LTI Cash Right portion of the Award is less than the aggregate amount of the Withholding, then the Company (a) shall have the right to adjust subsequent withholdings, and to withhold from other forms of compensation, in order to cover the deficiency, and/or (b) may require that Participant immediately “cover” the amount of such deficiency by (i) paying such amount to the Company in cash or (ii) by delivering to the Company Shares with a Fair Market Value equal to the amount of any such deficiency already owned by Participant for a period of at least six (6) months (or such longer or shorter period as may be required to avoid a charge to earnings for financial accounting purposes).

11.Potential Repayment Obligation.  

(a)Basis of Value of Award. Participant acknowledges that the values of this Award (including the number of shares of Restricted Stock specified by this Agreement and the amount of the LTI Cash Right specified by this Agreement, which is a function of the Restricted Stock valued as of the Grant Date) have been determined by the Company under the Management Incentive Plan by reference, in part, to certain financial and operating metrics of the Company that are reflected by its financial statements or otherwise reported (publicly or internally) for some or all of the three years that ended on December 31 immediately prior to the Grant Date (the “Measurement Period”). 

(b)Automatic Forfeiture under Sarbanes-Oxley.  Participant further acknowledges and agrees that, if the Company is required to prepare an accounting restatement due to the material noncompliance of the Company, as a result of misconduct, with any financial reporting requirement under the securities laws, and Participant is one of the individuals subject to automatic forfeiture under Section 304 of the Sarbanes-Oxley Act of 2002, to the extent required by such Section 304, Participant shall reimburse the Company for (i) the amount of any Award received by such Participant during the 12-month period following the first public issuance or filing with the Securities and Exchange Commission, as the case may be, of the financial document embodying such financial reporting requirement, and (ii) any profits received from the sale of securities of the Company during that 12-month period.

(c)Recovery under Other Applicable Law, Regulation or Listing Standards.  Participant further acknowledges and agrees that the Company shall be entitled to seek to recover from Participant all or any part of the Award, including any cash, stock, or other property received by Participant with respect to the Award, if and as required by the provisions of (or regulations adopted or to be adopted under) the Dodd-Frank Wall Street Reform and Consumer Protection Act, or any other “clawback requirement” imposed by applicable law or regulation or by the listing standards of NASDAQ, if the Company is required, regardless of fault (and even if Participant did not personally participate or assist in any fault), to restate its financial statements for any of the three fiscal year(s) included in the Measurement Period. 

(d)Repayment as a Result of Other Improper Conduct.  In addition to any repayment obligation that may be imposed upon Participant under paragraphs (b) and (c) of this Section, 
		
	(i)
	if an Award has been paid to Participant or to his or her spouse or beneficiary, and the Committee later determines either (A) that financial results used to determine the amount of that Award must be materially restated and that Participant engaged in fraud or intentional misconduct related thereto, or (B) that recovery or repayment of the Award is required by applicable law, Participant, or his or her spouse or beneficiary, shall be required to transfer back to the Company (or repay the Company the amounts or value of any Shares or other securities or property or cash payments previously deemed vested for Participant’s account, or delivered or paid to Participant (or for Participant’s account), under this Agreement in respect of the Award, to the extent overpaid, notwithstanding any contrary provision of the Equity Plan; and

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	(ii)
	the Company may also (by written notice delivered to Participant at any time on or before the third anniversary of the Grant Date) (A) cancel any or all of the unvested or unpaid portion of the Award that has not previously been forfeited or cancelled under this Agreement, and (B) require that Participant or Participant’s spouse or beneficiary (if applicable) transfer back to the Company (or repay the Company the amounts or value of) (I) any Shares or other securities or property or cash payments previously vested for Participant’s account, or delivered or paid to Participant (or for Participant’s account), under this Agreement in respect of the Award or (II) previously deemed earned or vested under this Agreement, where, in the sole judgment of the Committee, Participant has (x) engaged in fraud or intentional misconduct in the performance of Participant’s duties to the Company, (y) been indicted or charged with any criminal violation, regardless of whether in connection with Participant’s duties to the Company (other than minor traffic violations not involving use of intoxicants or possession of illegal substances), or (z) violated Participant’s duties to the Company under the Company’s Code of Business Conduct in any material respect. 

Further, the Committee may also impose additional repayment, recoupment or “clawback” obligations upon Participant with respect to all or any portion of the Award, any other payments of cash, stock, or other property or any other deliveries of securities made by or on behalf of the Company to Participant with respect to any component of this Award (including any payments or deliveries of shareholder dividends or distributions or other cash or other property in respect of securities previously credited or delivered to Participant under this Award), whenever the Committee may determine that such action is appropriate by reason of applicable securities, banking, tax or other laws, exchange listing standards, or accounting principles or interpretations (regardless of whether such laws, principles or interpretations have been changed since the Grant Date), by reason of changes in circumstances occurring after the Grant Date, or by reason of the Committee’s subsequent discovery of any error or other miscalculation by the Committee in its determination of the amount of Award issuable or payable to Participant hereunder. 
(e)Committee Authority and Participant’s Acceptance thereof.  The Committee shall have authority, in its sole judgment (which shall be conclusive and binding upon Participant), to determine whether Participant is obligated to the Company under this Section 11 to return or repay any portion of the Award previously granted and/or paid or delivered to Participant, and to determine the exact amount(s) of any such return or repayment obligation under this Section and the procedures and currencies for any such return.  By accepting this Award, Participant also accepts the Committee’s authority under this Agreement to make final and binding determinations with respect to all issues pertaining to the existence and amount(s) of Participant’s repayment obligation(s) under this Agreement.  

(f)Interest, Fees and Tax Reporting.  If Participant fails to satisfy any obligation to the Company established or claimed by the Company under this Section in full by the due date stated for satisfaction of such obligation, then Participant shall also pay to the Company interest on the fair value of such obligation from such due date until paid in full at a rate of interest equal to the prevailing national “prime rate” of interest on such due date plus an amount equal to the reasonable attorneys’ fees incurred by the Company in collecting amounts due from Participant under this Section.  After shares or payments have been transferred (and/or paid) back to the Company as may be required pursuant to this Section 11, the Company shall file such federal and state tax returns or amended returns, amended W-2 forms, or other tax filings as shall be required of it by applicable law or as reasonably requested by Participant with respect to all excess income and FICA taxes withheld and/or paid by the Company in connection with or attributable to the such transfers or payments back to the Company. 

12.Amendment of Awards. The Committee may unilaterally amend the terms of this Award Agreement, except that no such amendment may materially impair the rights of Participant under the Award without Participant’s consent, unless such amendment is necessary to comply with applicable law, stock exchange rules or the provisions of Section 11. 

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