Document:

EXHIBIT 10.63

 

RESTRICTED STOCK AGREEMENT

 

 

                This
RESTRICTED STOCK AGREEMENT (the “Agreement”),
dated as of
                    ,
          (the “Date of
Grant”), is entered into by and between GUESS?, INC., a Delaware
corporation (the “Company”), and                          
(the “Grantee”).

 

RECITALS

 

                WHEREAS, the Company maintains the Guess?, Inc. 2004 Equity
Incentive Plan (the “Plan”).

 

                WHEREAS, the Compensation Committee of the
Company’s Board of Directors (the “Committee”) has determined to grant a
restricted stock award (the “Award”) to the Grantee under the Plan in
order to increase Grantee’s participation in the success of the Company;

 

                NOW, THEREFORE, the parties hereto agree as
follows:

 

1.                                       Definitions;
Incorporation of Plan Terms.  Capitalized terms used herein without
definition shall have the meanings assigned to them in the Plan.  The Award and all rights of the Grantee under
this Agreement are subject to, and the Grantee agrees to be bound by, all of
the terms and conditions of the Plan, incorporated herein by this reference.  In the event of any conflict or inconsistency
between the Plan and this Award Agreement, the Plan shall govern.

2.                                       Grant of
Restricted Stock.  The Grantee
shall be entitled to purchase [                    ] restricted shares of the Company’s common stock, par value
$0.01 per share (the “Common Stock”), pursuant to the terms and
conditions of this Agreement (the “Restricted Stock”).

3.                                       Purchase Price.  The Grantee shall pay to the Company, in
cash, an aggregate purchase price of $[                    ] (the “Purchase Price”), which amount is equal to the
aggregate amount of the par value of the Restricted Stock.  Such payment of the Purchase Price shall be
made to the Company within 15 days after the date hereof.

4.                                       Restricted
Period.  Subject to Sections 7 and 8
below, the Award shall vest and restrictions shall lapse as to [(i) [          ]
of the total number of shares of the Restricted Stock on [                    ],
(ii) [                    ]
of the total number of shares of the Restricted Stock on [                    ]
and (iii) [                    ]
of the total number of shares of the Restricted Stock on [                    ]]; provided that Grantee has been continuously employed with
the Company from the date hereof through each applicable vesting date (the “Restricted
Period”). Employment or service for only a portion of the vesting period,
even if a substantial portion, will not entitle the Grantee to any
proportionate vesting or avoid or mitigate a termination of rights and benefits
upon or following a termination of employment or services as provided in
Section 7 below or under the Plan.

5.                                       Rights of a
Stockholder.  From and
after the Date of Grant and for so long as the Restricted Stock is held by or
for the benefit of the Grantee, the Grantee shall have all the rights of a
stockholder of the Company with respect to the Restricted Stock, including but

 

 

not limited to the right to
receive dividends, if applicable, and the right to vote such shares.

6.                                       Adjustments Upon Specified Events.  Upon the occurrence of certain events
relating to the Company’s Common Stock contemplated by Section 16(b) of the
Plan, the Committee will make adjustments, if appropriate, in the number and
kind of securities subject to the Award. 
If any adjustment is made under Section 16(b) of the Plan, the
restrictions applicable to the shares of Restricted Stock shall continue in
effect with respect to any consideration or other securities (the “Restricted
Property” and, for the purposes of this Award Agreement, “Restricted Stock”
shall include “Restricted Property,” unless the context otherwise requires)
received in respect of such Restricted Stock. 
Such Restricted Property shall vest at such times in such proportion as
the shares of Restricted Stock to which the Restricted Property is
attributable.  To the extent that the
Restricted Property includes any cash (other than regular cash dividends
provided for in Section 5 hereof), such cash shall be invested, pursuant to
policies established by the Committee, in interest bearing, FDIC-insured
(subject to applicable insurance limits) deposits of a depository institution
selected by the Committee, the earnings on which shall be added to and become a
part of the Restricted Property.

7.                                       Effect of Cessation
of Employment.

A.                                   Forfeiture
After Certain Events.  Unless the
Committee determines otherwise in its sole discretion, if the employment of the
Grantee by the Company, a Parent or a Subsidiary shall terminate for any
reason, whether with or without cause, voluntarily or involuntarily, any of the
shares of the Restricted Stock that remain subject to the Restricted Period on
the date of the Grantee’s termination of employment shall be forfeited.

B.                                     Return of
Shares; Refund of Purchase Price.  Upon the occurrence of any forfeiture of
shares of Restricted Stock hereunder, such unvested, forfeited shares and
related Restricted Property shall be automatically transferred to the Company,
without any other action by the Grantee, or the Grantee’s beneficiary or personal
representative, as the case may be, and the Company shall refund the Purchase
Price to the Grantee (or the Grantee’s beneficiary or personal representative);
no additional consideration shall be paid by the Company with respect to such
transfer.  No interest shall be credited
with respect to nor shall any other adjustments be made to the Purchase Price
for fluctuations in the fair market value of the Common Stock either before or
after the transfer date.  The Company may
exercise its powers under Section 10(D) hereof and take any other action
necessary or advisable to evidence such transfer.  The Grantee, or the Grantee’s beneficiary or personal
representative, as the case may be, shall deliver any additional documents of
transfer that the Company may request to confirm the transfer of such unvested,
forfeited shares and related Restricted Property to the Company.

8.                                       Change in
Control.  As provided in Section 17 of
the Plan, in the event of a Change in Control and except as the Committee (as
constituted immediately prior to such Change in Control) may otherwise
determine in its sole discretion, the Restricted Period shall lapse with
respect to all of the shares of Restricted Stock and shall thereon become fully
vested.

 

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9.                                       Restrictions on
Transfer.  Prior to
the lapse of the Restricted Period, neither the Restricted Stock, nor any
interest therein, amount payable in respect thereof or Restricted Property
shall be sold, transferred, pledged, hypothecated or otherwise disposed of by
the Grantee; provided, however, that such transfer restrictions shall not apply
to (i) transfers to the Company or (ii) transfers by will or descent and
distribution.  Grantee agrees that the
Restricted Stock will not be sold or otherwise disposed of in any manner that
would constitute a violation of any applicable federal or state securities
laws.

10.                                 Stock Certificates.

A.                                   Book
Entry Form.  The Company shall, in its discretion, issue
the shares of Restricted Stock subject to the Award either: (i) in certificate
form as provided in Section 10(B) below; or (ii) in book entry form, registered
in the name of the Grantee with notations regarding the applicable restrictions
on transfer imposed under this Agreement.

B.                                     Certificates
to be Held by Company; Legend.  Any certificates representing shares of Restricted Stock that may be
delivered to the Grantee by the Company prior to the lapse of restrictions
shall be immediately redelivered by the Grantee to the Company to be held by
the Company until the restrictions on such shares shall have lapsed and the
shares shall thereby have become vested or the shares represented thereby have
been forfeited hereunder.  Such
certificates shall bear the following legend:

“The
ownership of this certificate and the shares of stock evidenced hereby and any
interest therein are subject to substantial restrictions on transfer under an
Agreement entered into between the registered owner and Guess?, Inc.  A copy of such Agreement is on file in the
office of the Secretary of Guess?, Inc.”

C.                                     Delivery
of Certificates Upon Lapse of Restricted Period.  Promptly after the lapse of the Restricted
Period as to any shares of Restricted Stock pursuant to Section 4 and the
satisfaction of any and all related tax withholding obligations pursuant to
Section 11, the Company shall, as applicable, either remove the notations on
any shares of Restricted Stock issued in book entry form which have vested or
deliver to the Grantee a certificate or certificates evidencing the number of
shares of Restricted Stock which have vested (or, in either case, such lesser
number of shares as may be permitted pursuant to Section 11).  The Grantee (or the Beneficiary or Personal
Representative of the Grantee in the event of the Grantee’s death or
incapacity, as the case may be) shall deliver to the Company any
representations or other documents or assurances as the Company may deem
necessary or reasonably desirable to ensure compliance with all applicable
legal and regulatory requirements.  The
shares so delivered shall no longer be restricted shares hereunder.

D.                                    Stock
Power; Power of Attorney. 
Concurrent with the execution and delivery of this Agreement, the
Grantee shall deliver to the Company an executed stock power in the form
attached hereto as Exhibit A, in blank, with respect to the Restricted
Stock.  The Grantee, by acceptance of the
Award, shall be deemed to appoint, and does so appoint by execution of this
Agreement, the Company and each of its authorized representatives as the
Grantee’s attorney(s) in fact to effect

 

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any transfer of unvested,
forfeited shares (or shares otherwise reacquired by the Company hereunder) to
the Company as may be required pursuant to the Plan or this Agreement and to
execute such documents as the Company or such representatives deem necessary or
advisable in connection with any such transfer.

E.                                      Postponement
of Issuance. 
Notwithstanding any other provisions of this Agreement, the issuance or
delivery of any shares of Common Stock (whether subject to restrictions or
unrestricted) may be postponed for such period as may be required to comply
with applicable requirements of any national securities exchange or any
requirements under any law or regulation applicable to the issuance or delivery
of such shares.  The Company shall not be
obligated to issue or deliver any shares of Stock if the issuance or delivery
thereof shall constitute a violation of any provision of any law or of any
regulation of any governmental authority or any national securities exchange.

11.                                 Withholding of
Tax.  The Company shall reasonably
determine the amount of any federal, state, local or other income, employment,
or other taxes which the Company or any of its affiliates may reasonably be
obligated to withhold with respect to the grant, vesting, making of an election
under Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”),
or other event with respect to the Restricted Stock.  The Company may, in its sole discretion,
withhold and/or reacquire a sufficient number of shares of Restricted Stock in
connection with the vesting of such shares at their then Fair Market Value
(determined either as of the date of such withholding or as of the immediately
preceding trading day, as determined by the Company in its discretion) to
satisfy the amount of any such withholding obligations that arise with respect
to the vesting of such shares.  The Company
may take such action(s) without notice to the Grantee and shall remit to the
Grantee the balance of any proceeds from withholding and/or reacquiring such
shares in excess of the amount reasonably determined to be necessary to satisfy
such withholding obligations.  The
Grantee shall have no discretion as to the satisfaction of tax withholding
obligations in such manner.  If, however,
the Grantee makes an election under Section 83(b) of the Code with respect to
the Restricted Stock, if any other withholding event occurs with respect to the
Restricted Stock other than the vesting of such stock, or if the Company for
any reason does not satisfy the withholding obligations with respect to the
vesting of the Restricted Stock as provided above in this Section 11, the Company
shall be entitled to require a cash payment by or on behalf of the Grantee
and/or to deduct from other compensation payable to the Grantee the amount of
any such withholding obligations.

12.                                 Compliance.  Grantee hereby agrees to cooperate with the
Company, regardless of Grantee’s employment status with the Company, to the
extent necessary for the Company to comply with applicable state and federal
laws and regulations relating to the Restricted Stock.

13.                                 Notices.  Any notice required or permitted under this
Agreement shall be deemed given when personally delivered, or when deposited in
a United States Post Office, postage prepaid, addressed, as appropriate, to the
Grantee either at the address on record with the Company or such other address
as may be designated by Grantee in writing to the Company; or to the Company,
Attention: Angelina Orona, Stock Plan Administrator,

 

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1444 South Alameda Street,
Los Angeles, California  90021, or such
other address as the Company may designate in writing to the Grantee.

14.                                 Failure to
Enforce Not a Waiver.  The failure
of the Company or the Grantee to enforce at any time any provision of this
Agreement shall in no way be construed to be a waiver of such provision or of
any other provision hereof.

15.                                 Governing Law.  This Agreement shall be governed by and
construed according to the laws of the State of Delaware.

16.                                 Amendments.  This Agreement may be amended or modified at
any time by an instrument in writing signed by both parties.

17.                                 Agreement Not a
Contract of Employment. 
Neither the grant of the Restricted Stock, this Agreement nor any other
action taken in connection herewith shall constitute or be evidence of any
agreement or understanding, express or implied, that the Grantee is an employee
of the Company or any subsidiary of the Company.

18.                                 Committee’s
Powers.  No provision contained in this
Agreement shall in any way terminate, modify or alter, or be construed or
interpreted as terminating, modifying or altering any of the powers, rights or
authority vested in the Committee or, to the extent delegated, in its delegate
pursuant to the terms of the Plan or resolutions adopted in furtherance of the
Plan, including, without limitation, the right to make certain determinations
and elections with respect to the Restricted Stock.

19.                                 Section 83(b)
Election.  The Grantee
hereby acknowledged that, with respect to the grant of the Restricted Stock, an
election may be filed by the Grantee with the Internal Revenue Service, within
30 days, of the Date of Grant, electing pursuant to Section 83(b) of the
Code, to be taxed currently on the fair market value of the Restricted Stock on
the Date of Grant.

THE GRANTEE HEREBY
ACKNOWLEDGES THAT IT IS THE GRANTEE’S SOLE RESPONSIBILITY AND NOT THE
RESPONSIBILITY OF THE COMPANY TO TIMELY FILE AN ELECTION UNDER SECTION 83(b) OF
THE CODE, EVEN IF THE GRANTEE REQUESTS THE COMPANY OR ITS REPRESENTATIVE TO
MAKE THIS FILING ON THE GRANTEE’S BEHALF.

20.                                 Termination of
this Agreement.  Upon
termination of this Agreement, all rights of the Grantee hereunder shall cease.

 

                IN WITNESS WHEREOF, the Company has caused this Agreement to
be executed on its behalf by a duly authorized officer and the Grantee has
hereunto set his or her hand as of the date and year first above written.

 

	
   

  	
   

  	
  GUESS?,
  INC.,

  
	
   

  	
   

  	
  a Delaware
  corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  

 

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  Print Name:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  GRANTEE

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Signature

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Print
  Name

  
						

 

 

6

 

CONSENT OF SPOUSE

                In consideration of the execution of the foregoing
Restricted Stock Agreement by Guess?, Inc., a Delaware corporation, I,                                                  ,
the spouse of the Grantee therein named, do hereby join with my spouse in
executing the foregoing Restricted Stock Agreement and do hereby agree to be
bound by all of the terms and provisions thereof and of the Plan.

 

	
  Dated:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Signature of Spouse

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Print Name

  

 

 

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EXHIBIT A

STOCK POWER

 

                FOR VALUE RECEIVED and pursuant to that certain
Restricted Stock Agreement between Guess?, Inc., a Delaware corporation (the “Company”),
and the individual named below (the “Individual”) dated as of
                    ,
          , the Individual
hereby sells, assigns and transfers to the Company, an aggregate                     
shares of Common Stock of the Company, standing in the Individual’s name on the
books of the Company and represented by stock certificate number(s)                                                   to
which this instrument is attached, and hereby irrevocably constitutes and
appoints                                                   as
his or her lawful attorney in fact and agent to transfer such shares on the
books of the Company, with full power of substitution in the premises.

	
  Dated:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Signature

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Print Name

  

 

(Instruction:
Please do not fill in any blanks other than the signature line.  The purpose of the assignment is to enable
the Company to exercise its rights set forth in the Restricted Stock Agreement
in connection with the forfeiture of any restricted shares subject thereto
without requiring additional signatures on the part of the Individual.)Exhibit 10.1

 

FROM OF AWARD AGREEMENT FOR NON-QUALIFIED STOCK
OPTIONS

GRANTED UNDER THE 2005 MANAGEMENT STOCK OWNERSHIP
PROGRAM

 

Participant Name, Person
ID

 

 

Dear 3M Employee:

 

As a valued employee and
leader of 3M Company (“3M”), this Notice of Stock Option Grant is to certify
that 3M has granted you on this date, [date], an option to purchase [number]
shares of 3M common stock at an exercise price of $[price] per share.  Your stock option is a Nonqualified Option,
as defined in the 2005 Management Stock Ownership Program (the “2005 Program”).

 

Your stock option provides you a unique investment in 3M’s future. With
continued employment, you can hold your stock option up to 10 years before
exercising it. As an option holder, you have the opportunity to benefit
financially from future appreciation in 3M’s stock price. The chart below shows
examples of possible values of your stock option, assuming annual compounded
growth rates of 5%, 10% and 15% in the 3M stock price over 10 years.  As you can see, better stock performance
leads to higher potential value of your stock option.

 

	
  Shares Granted

  	
   

  	
  Value at Grant

  	
   

  	
  Value with

  5% Growth

  	
   

  	
  Value with

  10% Growth

  	
   

  	
  Value with

  15% Growth

  	
   

  
	
  [number]

  	
   

  	
  $

  	
  0

  	
   

  	
  $

  	
  [number]

  	
   

  	
  $

  	
  [number]

  	
   

  	
  $

  	
  [number]

  	
   

  
														

 

Please keep in mind that these examples are not predictions of future
stock values and that 3M’s stock price is likely to fluctuate within a wide
range, like the fluctuations of the overall stock market. You should not assume
that the past performance of 3M’s stock price indicates how it will perform in
the future. 3M’s stock price could decline over short or even long time
periods.

 

Your stock option will vest over three years.  This means you can exercise the first 1/3 of
your grant starting [date], the second 1/3 starting [date], and the remaining
1/3 starting [date]. This option becomes void after 3:00 p.m. U.S. Central
Time on [date] or 90 days after termination of your 3M employment, whichever is
earlier, except in cases of retirement, disability, death, or disqualifying
termination, unless otherwise determined by 3M’s Compensation Committee.

 

The ultimate value of your stock option will be
determined by the results you help create. 
When you create value for 3M, it is reflected in our products, our
profitability, and ultimately our stock price.

 

	
  Sincerely,

  
	
   

  
	
   

  
	
  W. James
  McNerney, Jr.

  
	
  Chairman of the Board
  and Chief Executive Officer

  

 

This option is subject to
the provisions of the 2005 Program as described in the Prospectus, which can be
found at http://intranet.mmm.com/iSite/MSOP. 
You can view details about all of your options, model stock option
exercises and exercise your options using the E*TRADE’s Executive services
online (www.etrade.com) or by telephone (1-877-366-3600).

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