Document:

Exhibit 10.1

 

WADDELL & REED FINANCIAL, INC.

 

RESTRICTED STOCK AWARD AGREEMENT

 

WADDELL & REED FINANCIAL, INC., a corporation organized and
existing under the laws of the state of Delaware (or any successor corporation)
(the “Company”), does hereby grant and give unto _______________ (the “Awardee”),
an award of restricted shares of Company Class A common stock (the “Restricted
Stock”) upon the terms and conditions hereinafter set forth (the “Award”).

 

AUTHORITY FOR GRANT

 

1.                                       Stock
Incentive Plan. The Restricted Stock is granted under the provisions of the
Waddell & Reed Financial, Inc. 1998 Stock Incentive Plan, as amended and
restated (the “Plan”), and is subject to the terms and conditions set forth in
this Restricted Stock Award Agreement (the “Agreement”) and not inconsistent
with the Plan. Capitalized terms used but not defined herein shall have the
meaning given them in the Plan, which is incorporated by reference herein.

 

TERMS OF AWARD

 

2.                                       Number
of Shares. In consideration of future services to the Company, the Awardee
is hereby granted ________ shares of Restricted Stock (the “Shares”) of the
Company’s Class A common stock, par value $.01 (the “Stock”) on _____________, 20___
(the “Grant Date”), subject to repurchase of a portion thereof by the Company
pursuant to Section 12 below.

 

3.                                       Restrictions;
Forfeiture. The Restricted Stock may not be sold, transferred, pledged,
assigned or otherwise alienated or hypothecated until its restrictions are
removed or expire. The Restricted Stock may be forfeited to the Company
pursuant to Section 5(b), at which time the Company shall have the right to
instruct the Company’s transfer agent to transfer the Restricted Stock to the
Company to be held by the Company in treasury or by any designee of the
Company.

 

4.                                       Expiration
of Restrictions and Risk of Forfeiture. The restrictions and risk of
forfeiture for the Restricted Stock will expire as set forth in this Section 4,
as of the vesting dates set forth in this Section 4, provided that (a) Awardee
is an employee of the Company, a Subsidiary or an Affiliate continuously from
the Grant Date through the applicable vesting date, and (b) the restrictions
and risk of forfeiture have not previously expired pursuant to this Agreement.

 

	
  Percentage of Shares Vesting

  	
   

  	
  Vest Date

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  331/3%

  	
   

  	
  ____________,
  20___

  	
   

  
	
  331/3%

  	
   

  	
  ____________,
  20___

  	
   

  
	
  331/3%

  	
   

  	
  ____________,
  20___

  	
   

  

 

 

TERMINATION OF AWARD

 

5.                                       Termination
of Employment.

 

(a)                                  Termination of
Employment Due to Death or Disability. If an Awardee’s employment with the
Company or any of its Subsidiaries or Affiliates terminates by reason of death
or Disability, the restrictions and risk of forfeiture with respect to the
Restricted Stock which have not expired shall immediately lapse and all shares
of the Restricted Stock shall be deemed fully vested and nonforfeitable.

 

(b)                                 Termination of
Employment Other Than Due to Death or Disability. If an Awardee’s
employment with the Company or any of its Subsidiaries or Affiliates terminates
for a reason other than death or Disability, the shares of Restricted Stock for
which the restrictions and risk of forfeiture have not expired as of the date
of termination shall be immediately forfeited without further action by the
Company; provided, however, that the portion, if any, of those shares of
Restricted Stock for which the restrictions and risk of forfeiture have expired
as of the date of such termination shall not be forfeited.

 

6.                                       Change in Control or Potential
Change in Control of the Company. In the event of (a) a Change in
Control, unless otherwise determined by the Committee in writing at or after
the Grant Date, but prior to the occurrence of such Change in Control, or (b) a
Potential Change in Control, if and to the extent so determined by the
Committee in writing at or after the Grant Date (subject to any right of
approval expressly reserved by the Committee at the time of such
determination), the restrictions with respect to the Restricted Stock shall
lapse and such shares shall be deemed fully vested and nonforfeitable.

 

7.                                       No
Limitation on Excess Parachute Payments. The provisions of Section 12 of
the Plan regarding the payment of any “Excess Parachute Payment” within the
meaning of Section 280G(b)(1) of the Internal Revenue Code of 1986, as amended,
shall not apply to this Agreement.

 

GENERAL TERMS AND PROVISIONS

 

8.                                       Administration
of Award. The Restricted Stock shall be maintained in a book-entry account
(the “Account”) by and at the Company’s transfer agent until the restrictions
associated with such Restricted Stock expire pursuant to Sections 4, 5 or 6. The
Awardee shall execute and deliver to the transfer agent one or more stock
powers in blank for the Restricted Stock. The Awardee hereby agrees that the
transfer agent shall maintain such Account and the related stock power(s)
pursuant to the terms of this Agreement until such restrictions expire pursuant
to Sections 4, 5 or 6.

 

9.                                       Ownership
of Restricted Stock. From and after the time that the Account representing
the Restricted Stock has been activated and prior to forfeiture, the Awardee
will be entitled to all the rights of absolute ownership of the Restricted
Stock, including the right to vote those shares and to receive dividends
thereon if, as, and when declared by the Board, subject,

 

2

 

however, to the terms,
conditions and restrictions set forth in this Agreement. Dividends paid in
stock of the Company or stock received in connection with a Stock split with
respect to the Restricted Stock shall be subject to the same restrictions as on
such Restricted Stock. The shares of Restricted Stock subject to this Award are
not eligible to be enrolled in any dividend re-investment program until the
restrictions thereon expire.

 

10.                                 Adjustment
of Shares for Recapitalization, Etc. In the event
there is any change in the outstanding Stock of the Company by reason of any
reorganization, recapitalization, stock split, stock dividend, combination of
shares or otherwise, there shall be substituted for or added to each share of
Stock theretofore appropriated or thereafter subject, or which may become
subject, to this Award, the number and kind of shares of stock or other
securities into which each outstanding share of Stock shall be so changed or
for which each such share shall be exchanged, or to which each such share shall
be entitled, as the case may be. Adjustment under the preceding provisions of
this Section 10 will occur automatically upon any such change in the
outstanding Stock of the Company. No fractional interest will be issued under
the Plan on account of any such adjustment.

 

11.                                 Conditions
to Delivery of Stock and Registration. Nothing herein shall require the
Company to issue or the transfer agent to deliver any shares with respect to
the Award if (a) that issuance would, in the opinion of counsel for the
Company, constitute a violation of the Securities Act of 1933, as amended, or
any similar or superseding statute or statutes, any other applicable statute or
regulation, or the rules of any applicable securities exchange or securities
association, as then in effect; or (b) the withholding obligation as provided
in Section 12 of this Agreement has not been satisfied. From time to time, the
Board and appropriate officers of the Company are authorized to and shall take
whatever actions are necessary to file required documents with governmental
authorities, stock exchanges, and other appropriate persons to make shares of
Stock available for issuance.

 

12.                                 Payment
of Taxes. The delivery of shares of Stock pursuant to this Award is conditioned
upon satisfaction of any withholding obligation described in this Section 12. The
Awardee may be required, from time to time, in the Company’s discretion, to pay
to the Company (or any Subsidiary or Affiliate as applicable), the amount that
the Company deems necessary to satisfy the Company’s or its Subsidiary’s or
Affiliate’s current or future obligation to withhold federal, state or local
income or other taxes incurred by the Awardee as a result of the Award. With
respect to any required tax withholding obligation, the Awardee may (a) upon
election at the time and in the manner prescribed by the Company, direct the
Company to purchase from the Awardee the number of shares of Stock to be issued
upon vesting equal in value to the amount of such obligation, based on the
shares’ Fair Market Value at the time such obligation is incurred; (b) deliver
to the Company sufficient shares of Stock to satisfy such obligation, based on
the shares’ Fair Market Value at the time such obligation is incurred; or (c)
deliver sufficient cash to the Company to satisfy such obligation. Notwithstanding
the foregoing, in the event of the Awardee’s death, the Company will withhold
the number of shares of Stock necessary to satisfy its withholding obligation,
based upon the shares’ Fair Market Value at the time such obligation is
incurred. The Committee may, in its sole discretion, deny any request to
satisfy withholding obligations through Stock instead of cash. In the event the
Company subsequently determines that the aggregate Fair Market Value of any
shares of Stock withheld as payment of any tax withholding

 

3

 

obligation is insufficient to discharge that tax withholding
obligation, then the Awardee shall pay to the Company, immediately upon the
Company’s request, the amount of that deficiency in cash.

 

13.                                 Company
Records. Records of the Company or its Subsidiaries or Affiliates regarding
any period(s) of employment, termination of employment and the reason therefor,
leaves of absence, re-employment, and other matters shall be conclusive for all
purposes hereunder, unless determined by the Company to be incorrect.

 

14.                                 Right
of the Company and Subsidiaries to Terminate Employment. Nothing contained
in this Agreement shall confer upon the Awardee the right to continue in the
employ of the Company or any Subsidiary or Affiliate, or interfere in any way
with the rights of the Company or any Subsidiary or Affiliate to terminate the
Awardee’s employment at any time.

 

15.                                 No
Liability for Good Faith Determinations. The members of the Board and the
Committee shall not be liable for any act, omission, interpretation or
determination taken or made in good faith with respect to this Agreement or the
Restricted Stock granted hereunder and all members of the Board or the
Committee and each and any officer or employee of the Company acting on their
behalf shall, to the extent permitted by law, be fully indemnified and
protected by the Company with respect to any such action, determination or
interpretation.

 

16.                                 Severability.
If any provision of this Agreement is held to be illegal or invalid for any
reason, the illegality or invalidity shall not affect the remaining provisions
hereof, but such provision shall be fully severable and this Agreement shall be
construed and enforced as if the illegal or invalid provision had never been
included herein.

 

17.                                 Successors.
This Agreement shall be binding upon the Awardee, their legal representatives,
heirs, legatees and distributees, and upon the Company, its successors and
assigns.

 

18.                                 Notices.
Any notices required by or permitted to be given to the Company under this
Agreement shall be made in writing and addressed to the Secretary of the
Company in care of the Company’s Legal Department, 6300 Lamar Avenue, Overland
Park, Kansas 66202. Any such notice shall be deemed to have been given when
received by the Company.

 

19.                                 Headings.
The titles and headings herein are included for convenience of reference only,
do not constitute a part of this Agreement and shall not be deemed to limit or
affect any of the provisions hereof.

 

20.                                 Rules
of Construction. This Agreement has been executed and delivered by the
Company in Kansas and shall be construed and enforced in accordance with the
laws of said State, other than any choice of law rules calling for the
application of laws of another jurisdiction. Should there be any inconsistency
or discrepancy between the provisions of this Agreement and the terms and
conditions of the Plan under which this Award is granted, the provisions in the
Plan shall govern and prevail.

 

4

 

21.                                 Amendment.
This Agreement may be amended by the Committee; provided, however, that no
amendment may decrease rights inherent in this Award prior to such amendment
without the express written consent of the parties hereto. Notwithstanding the
provisions of this Section 21, this Agreement may be amended by the Committee
to the extent necessary to comply with applicable laws and regulations and to conform
the provisions of this Agreement to any changes thereto.

 

22.                                 Effective
Date. This Agreement has been executed this ____ day of ___________, 20___,
effective as of _________________, 20___.

 

 

	
   

  	
  WADDELL & REED FINANCIAL, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Daniel P. Connealy, Senior Vice President

  
	
   

  	
   

  	
  and Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  “Company”

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  “Awardee”

  

 

5

 

STOCK POWER

 

FOR VALUE RECEIVED, _______________ does hereby assign
and transfer unto Waddell & Reed
Financial, Inc. (51-0261715) __________ shares of Class A common
stock of Waddell & Reed Financial, Inc., a Delaware corporation, granted on
_____________, 20___, as evidenced by the Restricted Stock Award Agreement of
even date therewith and standing in the name of the undersigned on the books of
Waddell & Reed Financial, Inc. The undersigned does hereby appoint Computershare
Trust Company, N.A. as attorney-in-fact to transfer the said stock on the books
of Waddell & Reed Financial, Inc. with full power of substitution in the
premises.

 

Dated as of this ____ day of ____________, 20___.

 

 

	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
				

 

6Exhibit 10.2

 

WADDELL & REED
FINANCIAL, INC.

 

RESTRICTED STOCK AWARD AGREEMENT

 

WADDELL & REED FINANCIAL, INC., a corporation organized and
existing under the laws of the state of Delaware (or any successor corporation)
(the “Company”), does hereby grant and give unto _____________ (the “Awardee”),
an award of restricted shares of Company Class A common stock (the “Restricted
Stock”) upon the terms and conditions hereinafter set forth (the “Award”).

 

AUTHORITY FOR GRANT

 

1.                                       Stock
Incentive Plan. The Restricted Stock is granted under the provisions of the
Waddell & Reed Financial, Inc. 1998 Stock Incentive Plan, as amended and
restated (the “Plan”), and is subject to the terms and conditions set forth in
this Restricted Stock Award Agreement (the “Agreement”) and not inconsistent
with the Plan. Capitalized terms used but not defined herein shall have the
meaning given them in the Plan, which is incorporated by reference herein.

 

TERMS OF AWARD

 

2.                                       Number
of Shares. In consideration of future services to the Company, the Awardee
is hereby granted __________ and ____________ shares of Restricted Stock
(collectively, the “Shares”) of the Company’s Class A common stock, par value
$.01 (the “Stock”) on _____________, 20___ (the “Grant Date”), subject to
repurchase of a portion thereof by the Company pursuant to Section 12 below.

 

3.                                       Restrictions;
Forfeiture. The Restricted Stock may not be sold, transferred, pledged,
assigned or otherwise alienated or hypothecated until its restrictions are
removed or expire. The Restricted Stock may be forfeited to the Company
pursuant to Section 5(b), at which time the Company shall have the right to
instruct the Company’s transfer agent to transfer the Restricted Stock to the
Company to be held by the Company in treasury or by any designee of the
Company.

 

4.                                       Expiration
of Restrictions and Risk of Forfeiture. The restrictions and risk of
forfeiture for the Restricted Stock will expire as set forth in this Section 4,
as of the vesting dates set forth in this Section 4, provided that (a) Awardee
serves as a Director of the Company continuously from the Grant Date through
the applicable vesting date, and (b) the restrictions and risk of forfeiture
have not previously expired pursuant to this Agreement.

 

	
  Percentage of Shares Vesting

  	
   

  	
  Vest Date

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  331/3%

  	
   

  	
  ____________,
  20___

  	
   

  
	
  331/3%

  	
   

  	
  ____________,
  20___

  	
   

  
	
  331/3%

  	
   

  	
  ____________,
  20___

  	
   

  

 

 

TERMINATION OF AWARD

 

5.                                       Termination
of Service on the Board.

 

(a)                                  Termination of
Service Due to Death or Disability. If an Awardee’s service on the Board
terminates by reason of death or Disability, the restrictions and risk of
forfeiture with respect to the Restricted Stock which have not expired shall
immediately lapse and all shares of the Restricted Stock shall be deemed fully
vested and nonforfeitable.

 

(b)                                 Termination of
Service Other Than Due to Death or Disability. If an Awardee’s service on
the Board terminates for a reason other than death or Disability, the shares of
Restricted Stock for which the restrictions and risk of forfeiture have not
expired as of the date of termination shall be immediately forfeited without
further action by the Company; provided, however, that the portion, if any, of
those shares of Restricted Stock for which the restrictions and risk of
forfeiture have expired as of the date of such termination shall not be
forfeited.

 

6.                                       Change in Control or Potential
Change in Control of the Company. In the event of (a) a Change in
Control, unless otherwise determined by the Committee in writing at or after
the Grant Date, but prior to the occurrence of such Change in Control, or (b) a
Potential Change in Control, if and to the extent so determined by the
Committee in writing at or after the Grant Date (subject to any right of
approval expressly reserved by the Committee at the time of such
determination), the restrictions with respect to the Restricted Stock shall
lapse and such shares shall be deemed fully vested and nonforfeitable.

 

7.                                       No
Limitation on Excess Parachute Payments. The provisions of Section 12 of
the Plan regarding the payment of any “Excess Parachute Payment” within the
meaning of Section 280G(b)(1) of the Internal Revenue Code of 1986, as amended,
shall not apply to this Agreement.

 

GENERAL TERMS AND PROVISIONS

 

8.                                       Administration
of Award. The Restricted Stock shall be maintained in a book-entry account
(the “Account”) by and at the Company’s transfer agent until the restrictions
associated with such Restricted Stock expire pursuant to Sections 4, 5 or 6. The
Awardee shall execute and deliver to the transfer agent one or more stock
powers in blank for the Restricted Stock. The Awardee hereby agrees that the
transfer agent shall maintain such Account and the related stock power(s)
pursuant to the terms of this Agreement until such restrictions expire pursuant
to Sections 4, 5 or 6.

 

9.                                       Ownership
of Restricted Stock. From and after the time that the Account representing
the Restricted Stock has been activated and prior to forfeiture, the Awardee
will be entitled to all the rights of absolute ownership of the Restricted
Stock, including the right to vote those shares and to receive dividends
thereon if, as, and when declared by the Board, subject, however, to the terms,
conditions and restrictions set forth in this Agreement. Dividends paid in

 

2

 

stock of the Company or stock received in connection with a Stock split
with respect to the Restricted Stock shall be subject to the same restrictions
as on such Restricted Stock. The shares of Restricted Stock subject to this
Award are not eligible to be enrolled in any dividend re-investment program
until the restrictions thereon expire.

 

10.                                 Adjustment
of Shares for Recapitalization, Etc. In the event there is
any change in the outstanding Stock of the Company by reason of any
reorganization, recapitalization, stock split, stock dividend, combination of
shares or otherwise, there shall be substituted for or added to each share of
Stock theretofore appropriated or thereafter subject, or which may become
subject, to this Award, the number and kind of shares of stock or other
securities into which each outstanding share of Stock shall be so changed or
for which each such share shall be exchanged, or to which each such share shall
be entitled, as the case may be. Adjustment under the preceding provisions of
this Section 10 will occur automatically upon any such change in the
outstanding Stock of the Company. No fractional interest will be issued under
the Plan on account of any such adjustment.

 

11.                                 Conditions
to Delivery of Stock and Registration. Nothing herein shall require the
Company to issue or the transfer agent to deliver any shares with respect to
the Award if that issuance would, in the opinion of counsel for the Company,
constitute a violation of the Securities Act of 1933, as amended, or any
similar or superseding statute or statutes, any other applicable statute or
regulation, or the rules of any applicable securities exchange or securities
association, as then in effect. From time to time, the Board and appropriate officers
of the Company are authorized to and shall take whatever actions are necessary
to file required documents with governmental authorities, stock exchanges, and
other appropriate persons to make shares of Stock available for issuance.

 

12.                                 Tax
Obligations. The Awardee shall be responsible for satisfaction of any
current or future federal, state or local income or other tax obligation
incurred by the Awardee as a result of the Award. With respect to any such
required tax obligation, the Awardee may (a) upon election, at the time
and in the manner prescribed by the Company, direct the Company to purchase
from the Awardee the number of shares of Stock to be issued upon vesting equal
in value to the amount of such obligation, based on the shares’ Fair Market
Value at the time such obligation is determined, at which time the Company
shall deliver to the Awardee an amount in cash equal to the aggregate Fair
Market Value of the shares purchased by the Company, or (b) if no such
election is made by the Awardee, the Awardee shall otherwise satisfy such tax
obligation by such other means as the Awardee may determine.

 

13.                                 Company
Records. Records of the Company or its Subsidiaries or Affiliates regarding
any period(s) of service on the Board, termination of service and the reason
therefor, and other matters shall be conclusive for all purposes hereunder,
unless determined by the Company to be incorrect.

 

14.                                 No
Liability for Good Faith Determinations. The members of the Board and the
Committee shall not be liable for any act, omission, interpretation or
determination taken or made in good faith with respect to this Agreement or the
Restricted Stock granted hereunder and all members of the Board or the
Committee and each and any officer or employee of the

 

3

 

Company acting on their behalf shall, to the extent permitted by law,
be fully indemnified and protected by the Company with respect to any such
action, determination or interpretation.

 

15.                                 Severability.
If any provision of this Agreement is held to be illegal or invalid for any
reason, the illegality or invalidity shall not affect the remaining provisions
hereof, but such provision shall be fully severable and this Agreement shall be
construed and enforced as if the illegal or invalid provision had never been
included herein.

 

16.                                 Successors.
This Agreement shall be binding upon the Awardee, their legal representatives,
heirs, legatees and distributees, and upon the Company, its successors and
assigns.

 

17.                                 Notices.
Any notices required by or permitted to be given to the Company under this
Agreement shall be made in writing and addressed to the Secretary of the
Company in care of the Company’s Legal Department, 6300 Lamar Avenue, Overland
Park, Kansas 66202. Any such notice shall be deemed to have been given
when received by the Company.

 

18.                                 Headings.
The titles and headings herein are included for convenience of reference only,
do not constitute a part of this Agreement and shall not be deemed to limit or
affect any of the provisions hereof.

 

19.                                 Rules
of Construction. This Agreement has been executed and delivered by the
Company in Kansas and shall be construed and enforced in accordance with the
laws of said State, other than any choice of law rules calling for the application
of laws of another jurisdiction. Should there be any inconsistency or
discrepancy between the provisions of this Agreement and the terms and
conditions of the Plan under which this Award is granted, the provisions in the
Plan shall govern and prevail.

 

20.                                 Amendment.
This Agreement may be amended by the Committee; provided, however, that no
amendment may decrease rights inherent in this Award prior to such amendment
without the express written consent of the parties hereto. Notwithstanding the
provisions of this Section 20, this Agreement may be amended by the
Committee to the extent necessary to comply with applicable laws and
regulations and to conform the provisions of this Agreement to any changes
thereto.

 

4

 

21.                                 Effective
Date. This Agreement has been executed this ____ day of ____________,
20___, effective as of ______________, 20___.

 

 

	
   

  	
  WADDELL & REED FINANCIAL, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Daniel P. Connealy, Senior Vice President 

  
	
   

  	
   

  	
  and Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  “Company”

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  “Awardee”

  

 

5

 

STOCK POWER

 

FOR VALUE RECEIVED, ________________ does hereby assign
and transfer unto Waddell & Reed
Financial, Inc. (51-0261715) __________ shares of Class A common
stock of Waddell & Reed Financial, Inc., a Delaware corporation, granted on
_____________, 20___, as evidenced by the Restricted Stock Award Agreement of
even date therewith and standing in the name of the undersigned on the books of
Waddell & Reed Financial, Inc. The undersigned does hereby appoint Computershare
Trust Company, N.A. as attorney-in-fact to transfer the said stock on the books
of Waddell & Reed Financial, Inc. with full power of substitution in the
premises.

 

Dated as of this ____ day of ___________, 20___.

 

 

	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
				

 

6

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