Document:

Exhibit 10.3

LONG-TERM INCENTIVE PLAN

 

PERFORMANCE UNIT AWARD AGREEMENT

 

 

	
  To:

  	
   

  	
   

  	
   

  	
  Date of Grant:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Performance Units:

  	
   

  	
   

  

 

 

Trammell
Crow Company, a Delaware corporation (the “Corporation”), is pleased to make a
conditional grant to you of an aggregate of ____________ performance units (“Performance
Units”).  This grant is conditioned upon
your delivery to the Corporation of an executed counterpart of this Performance
Unit Award Agreement (this “Agreement”), along with an executed Distribution
Election Form attached as Exhibit A,
no later than ______________.  If you do
not deliver an executed copy of this Agreement to the Corporation on or prior
to such date, the grant of the Performance Units will be void, ab initio.  Performance Units are granted under Section 8
of the Trammell Crow Company Long-Term Incentive Plan, which was adopted
effective as of August 22, 1997 (the “Plan”), a copy of which is attached as Exhibit
B, and which Plan is expressly incorporated herein and shall be applicable
for all purposes.  All terms of this
Agreement are governed by the Plan.  If
any provision of this Agreement conflicts with the expressly applicable terms
of the Plan, the provisions of the Plan shall control and, if necessary, the
applicable provisions of this Agreement shall be deemed to be amended to comply
with the Plan.  Capitalized terms used in
this Agreement shall have the meanings given to them in the Plan unless
otherwise defined in this Agreement or unless the context requires otherwise.

This Agreement
sets forth the terms of the agreement between you and the Corporation with
respect to the Performance Units.  By
accepting this Agreement, you agree to be bound by all of the terms hereof.

1.             Grant.  Subject to the terms and conditions set forth
herein, the Corporation grants to you an Award (this “Award”) of _________
Performance Units.  The number of
Performance Units granted hereby is equal to _________ divided by _______ (the
Fair Market Value of a share of common stock (“Common Stock”) on the Date of Grant),
rounded up to the nearest whole number.

2.             Rights Represented by
Performance Unit.  Each
Performance Unit is a deferred, unfunded and unsecured contractual right to
receive either one share of Common Stock or cash in an amount equal to the Fair
Market Value of one share of Common Stock as of the distribution date.  The Performance Units shall be payable as set
forth herein.

3.             Dividends.  Whenever the Corporation shall pay any
dividends (other than in Common Stock) upon issued and outstanding Common Stock,
or shall make any distribution (other than in Common Stock) with respect
thereto, there shall be credited to you a number of additional Performance
Units equal the product obtained when the number of Performance Units held by
you under this Agreement at the time of payment is multiplied by a fraction,
the numerator of which is the fair value of the dividend paid per share of
Common Stock, and the denominator of which is the Fair Market Value of the
Common 

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Stock on the distribution date.  In the case of a
cash dividend or distribution, the “fair value” thereof shall be the amount of
such cash, and, in the case of any other dividend or
distribution, the “fair value” thereof shall be such amount as shall be
determined in good faith by the Committee. 
If the Corporation pays any dividend or distribution upon its issued and
outstanding Common Stock and such dividend or distribution is payable in
additional shares of such Common Stock, there shall be credited to you a number
of additional Performance Units equal to the product obtained when the number
of Performance Units held by you under this Agreement at the time of payment is
multiplied by the number of shares of Common Stock issued with respect to any single
share of Common Stock in connection with the dividend or distribution.

4.             Performance Period.  The period over which the performance of a
Performance Unit will be measured begins as of the Date of Grant and ends as of
the date of your final distribution of cash or shares of Common Stock, as the
case may be.

5.             Forfeiture.  The Performance Units are not subject to
forfeiture and are 100% vested as of the Date of Grant.

6.             Elections.  You hereby make the commencement of payment,
form of payment, and duration of payment elections set forth on Exhibit A hereto, which is hereby incorporated
by reference.  You are entitled to elect
to receive payment of your Performance Units (i) upon termination of employment
or service, or upon completion of a stated number of years or a date certain;
(ii) in cash or in shares of Common Stock; and (iii) in a single lump sum or in
annual installments of up to five years. 
You may elect to delay the commencement of payments scheduled to begin
in a specified year, or change the form of payment, by filing a revised
election form, as prescribed by the Committee, specifying the later year in
which the payment of the deferred sums shall commence, and/or the duration of
such payments; provided, that any such election must be made no later than
December 31 at least one (1) full calendar year prior to the date such
Performance Units would otherwise have become payable.  Unless otherwise approved by the Committee,
any change in the timing or duration of payment (such as from lump sum to installment)
must extend the length of the payments and may not accelerate them.  If installment payments are elected, the
amount of each installment payment shall be equal to the quotient obtained when
your remaining vested balance (and including increases in the value of any
remaining Performance Units) that is subject to such installment election (as
determined immediately prior to each such payment) is divided by the total
number of remaining installment payments.

7.             Irrevocability.  You understand and agree that any elections
made by you under this Agreement are irrevocable except as stated herein.

8.             Default Election.  If no election is made, you will be paid in a
single lump sum in shares of Common Stock upon termination of service.

9.             Board of Directors
Discretion. 
Notwithstanding the above, the Board of Directors or Committee reserves
the right to accelerate any payment or require the form of payment to be in
cash or Common Stock, regardless of your election to the contrary.

10.           Corporate Restructuring.  This Agreement shall not affect the right of
the Corporation or any parent or subsidiary thereof to reclassify, recapitalize
or otherwise change its capital or debt structure or to merge, consolidate,
convey any or all of its assets, dissolve, liquidate, windup or otherwise
reorganize.

11.           Reduced Distribution.  Notwithstanding any other provisions of this
Agreement to the contrary, you may at any time request the distribution of up
to 100% of your vested Performance Units. 
In the event you receive such a distribution, you will receive a portion
of your vested Performance Units equal 

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to 90% of the requested distribution, and the remaining 10% of
the requested distribution will be forfeited.

12.           Incorporation of Plan.  This Award is subject to the Plan.  In the event of a difference between a
mandatory provision of the Plan and this Award, the Plan’s terms govern.  The terms and provisions of the following
paragraphs and sections of the Plan are hereby incorporated into this
Agreement:  8.1, 8.4, 8.5, 9.1, 9.2,
10.3, 10.5, 10.6, 10.9, 10.10, 10.11, 10.14, 10.15, 10.18, 10.19, 10.20, 10.21,
Section 11 and Section 12.

13.           Notice.  Notices will be given and deemed delivered in
accordance with Paragraph 12.14 of the Plan. 
The Corporation, the Committee and you agree that any notices shall be
given to the Corporation or to you at the following addresses:

	
  Corporation or 

  Committee:

  	
   

  	
  Trammell Crow Company 

  2001 Ross Avenue, Suite 3400 

  Dallas, Texas 75201 

  Attn: Human Resources Department

  
	
   

  	
   

  	
   

  
	
  Holder:

  	
   

  	
  At
  your current address as shown in the Corporation’s records.

  

 

14.           Acknowledgment.  By executing this Agreement in the
appropriate space below, you acknowledge that you have been provided a copy of
the Plan, and that your rights under and with respect to the Performance Units
are and will continue to be subject to all of the terms and provisions of the
Plan and this Agreement.

[THE REMAINDER OF THIS PAGE IS
INTENTIONALLY BLANK]

3

IN WITNESS WHEREOF, the
Corporation has caused this Agreement to be executed by its duly authorized
officer as of the Date of Grant first above written.

 

	
   

  	
  TRAMMELL CROW COMPANY

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  

 

 

 

	
  ACKNOWLEDGED
  AND AGREED:

  	
   

  
	
   

  	
   

  
	
  Name:

  	
   

  

 

S-1Exhibit 10.1

 

Form of CEO Non-Qualified Stock
Option Award Agreement

 

PROVIDIAN
FINANCIAL CORPORATION

2000
STOCK INCENTIVE PLAN

 

NON-QUALIFIED STOCK OPTION AWARD

 

Providian Financial Corporation, a Delaware corporation (the “Company”), hereby
awards to the Participant named below, subject to the terms and conditions set
forth in this Non-Qualified Stock Option Award (“Agreement”) and the Company’s
2000 Stock Incentive Plan (the “Plan”), as amended from time to time, the right
and option to purchase all or any part of the shares of the Company’s Common
Stock, at the exercise price and otherwise on the terms and conditions set
forth in this Agreement.

 

Grant
Date:

 

Name
of Participant (“Grantee”):

 

Number
of Optioned Shares:

 

Exercise
Price:

 

	
  The Plan
  and Other Agreements

  	
   

  	
  The terms and
  conditions of the Plan are incorporated into this Agreement by reference.
  Unless otherwise defined in this Agreement, capitalized terms used in this
  Agreement are used as defined in the Plan.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  This Agreement and the Plan constitute the entire understanding between
  Grantee and the Company regarding this Stock Option Award, except as
  otherwise provided under the heading “Vesting” below. Except to the extent
  provided under the heading “Vesting” below, any prior agreements or understandings
  related to the subject herein are superseded.

  
	
   

  	
   

  	
   

  
	
  Expiration
  of 

  Option

  	
   

  	
  The option shall expire
  on the 10th anniversary of the Grant Date, or, if earlier, at the earliest of the following:

   

  •                  immediately on
  termination of Grantee’s Service for Cause;

  •                  90 days after
  the termination of Grantee’s continuous Service for any reason other than
  Cause, death, Disability, or Retirement; or

  •                  five years after Grantee’s death, determination of
  Disability, or Retirement.

   

  Notwithstanding the foregoing, the option is
  exercisable no later than the last trading day on or before the expiration
  date.

  

 

 

	
  Vesting

  	
   

  	
  The option shall vest
  and may be exercised only to the extent of:

   

  •                  1/3 of the total number of optioned
  shares after the expiration of one year of Service following the Grant Date;

  •                  2/3 of the total number of optioned
  shares after the expiration of two years of Service following the Grant Date;
  and

  •                  in full after the expiration of
  three years of Service after the Grant Date;

   

  provided that
  vesting shall cease upon termination of Grantee’s continuous Service, and provided further that the vesting and exercisability of
  the option may be accelerated under certain circumstances, as provided in the
  Executive Employment Agreement dated as of November 25, 2001, as
  amended, between the Company and Grantee.

  
	
   

  	
   

  	
   

  
	
  Voting and Other Rights

  	
   

  	
  Until the person
  electing to exercise the option has exercised the option and paid the
  exercise price of the optioned shares to be purchased, the person so electing
  shall possess no rights as a stockholder with respect to any such shares.

  
	
   

  	
   

  	
   

  
	
  Leaves of Absence

  	
   

  	
  For
  purposes of this Agreement, Grantee’s continuous Service does not terminate
  when Grantee goes on a bona fide
  leave of absence that was approved by the Company in writing, if the terms of
  the leave provide for continuous Service crediting. Grantee’s continuous
  Service terminates in any event when the approved leave ends, unless Grantee
  immediately returns to active work.

  

  The Company shall have the right to determine in its discretion which leaves
  of absence are considered an interruption of continuous Service, and when
  Grantee’s continuous Service terminates, for all purposes under the Plan.

  
	
   

  	
   

  	
   

  
	
  Withholding Taxes

  	
   

  	
  As a condition to any
  exercise of the option, the Company may require Grantee to enter into an
  arrangement providing for the payment to the Company of any tax withholding
  obligation of the Company arising by reason of the exercise of the option or
  the disposition of shares of Common Stock acquired upon such exercise.

  
	
   

  	
   

  	
   

  
	
  Restrictions on Transfer

  	
   

  	
  The option shall not be transferable by Grantee
  other than by Grantee’s will or by the laws of descent and distribution. The
  option shall be exercised during Grantee’s lifetime only by Grantee or
  Grantee’s guardian or legal representative.

  

  Grantee agrees to comply with the Company’s policies and procedures,
  including the Insider Trading Policy, and with applicable regulatory
  requirements, if any, in connection with the exercise of options or the
  purchase or sale of Providian common stock. In addition, Grantee understands
  that if Grantee is an executive officer of Providian, Grantee may not be able
  to exercise any of the options issued to Grantee under the Plan in a “cashless”
  exercise.

  
	
   

  	
   

  	
   

  
	
  No
  Retention Rights

  	
   

  	
  This
  Agreement is not an employment agreement and does not give Grantee the right
  to continue to be employed by the Company (or a Subsidiary or Affiliate). The
  Company (and any Subsidiary or Affiliate) reserves the right to terminate
  Grantee’s continuous Service at any time and for any reason.

  
	
   

  	
   

  	
   

  
	
  Applicable
  Law

  	
   

  	
  This
  Agreement will be construed under the laws of the State of California.

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