Document:

Form of Directors Stock Appreciation Rights Agreement

 Exhibit 10.24 
  
 D I R E C T O R S  S T O C K
 A P P R E C I A T I O N  R I G H T S 
  A G R E E M E N T 
  
 Non-transferable 
  
 G R A N T   T O 
  
 (“Grantee”) 
  
 by Assurant, Inc. (the
“Company”) of 
 Stock Appreciation Rights with respect to 
  
 shares of its common stock, $0.01 par value (the “SARs”) 
  
 having a base value of
$            per share (the “Base Value”) 
  
 pursuant to and subject to the provisions of the Assurant, Inc. Amended and Restated Directors Compensation Plan (the “Director Plan”). As provided in the
Director Plan, the SARs are granted under and pursuant to the terms of the Assurant, Inc. 2004 Long-Term Incentive Plan (the “Incentive Plan”) and are subject to the terms and conditions set forth on the following page (the “Terms and
Conditions”). 
  
 The SARs are fully vested and exercisable,
but the shares of Stock issuable upon exercise of the SARs are subject to a minimum holding period as provided in Section 5 of the Terms and Conditions. 
  
 IN WITNESS WHEREOF, Assurant, Inc., acting by and through its duly authorized officers, has caused this Agreement to be executed as of the Grant Date.

  

					
	ASSURANT, INC.
		
	 By:   
	 	 
	 	 	 [Authorized Officer]
	 	 

					
		
	 Grant Date:
	 	 
		
	 Accepted by Grantee:
	 	 

 TERMS AND CONDITIONS 
  
 1. Grant of SARs.    Assurant, Inc. (the “Company”) hereby grants to the Grantee named on Page 1 hereof
(“Grantee”), under the Director Plan and the Incentive Plan and on the terms and conditions set forth in this agreement (this “Agreement”), stock appreciation rights with respect to the number of shares indicated on Page 1 of the
Company’s Common Stock, at the Base Value per share set forth on Page 1 (the “SARs”). 
  
 2. Defined Terms.    Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in
the Director Plan or the Incentive Plan. Where a term is defined in both the Director Plan and the Incentive Plan, the definition that is in the Director Plan shall control. 
  
 3. Base Value and Benefit.    The Base Value of each SAR is equal to the Fair Market Value of a
share of Common Stock on the Grant Date. Each SAR entitles Grantee to receive from the Company upon the exercise of the SAR that number of shares of the Company’s Common Stock (the “Shares”) having a Fair Market Value, as of the date
of such exercise, equal to the excess, if any, of (a) the Fair Market Value of one share of Common Stock on the date of exercise, minus (b) the Base Value per share of the SAR. For purposes of computing the number of Shares that Grantee
has a right to acquire by exercise of these SARs, fractional Shares shall be rounded to the nearest whole Share. 
  
 4. Term of and Exercise of SARs.    The term of the SARs is a period of five years, expiring at 5:00 p.m., Eastern Time, on the
fifth anniversary of the Grant Date (the “Expiration Date”). The SARs are fully vested and exercisable as of the Grant Date, and shall be exercised by written notice directed to the Secretary of the Company or his or her designee at the
address and in the form specified by the Secretary from time to time. If the person exercising a SAR is not Grantee, such person shall also deliver with the notice of exercise appropriate proof of his or her right to exercise the SAR. To the extent
not previously exercised, the SARs shall be automatically exercised (and shall thereupon expire) on the earlier of (i) the first anniversary of Grantee’s termination as a director of the Company for any reason, or (ii) the Expiration
Date. The Board may at its discretion compel the early exercise of the SARs in order to facilitate any reorganization, recapitalization, or other need of the Company. In requiring such mandatory exercise, the Board in its discretion may select which
SARs shall be exercised. 
  
 5. Minimum Holding
Period.    The Shares issuable upon exercise of the SARs may not be sold, transferred, exchanged, assigned, pledged, hypothecated or otherwise encumbered to or in favor of any party other than the Company, and may not be
subject to any lien, obligation or liability of Grantee to any other party other than the Company, until the earlier of (i) the fifth anniversary of the Grant Date, or (ii) Grantee’s termination as a director of the Company for any
reason (the “Minimum Holding Period”). 
  
 6.
Delivery of Shares.    The Shares issuable upon exercise of the SARs will be registered in the name of Grantee as of the date of exercise and will be issued in certificated or uncertificated form. Any certificate issued
during the Minimum Holding Period with respect to such Shares shall be registered in the name of Grantee and shall bear a legend in substantially the following form: 
  
 “This certificate and the shares of stock represented hereby are subject to the terms and conditions (including
restrictions against transfer) contained in a Directors Stock Appreciation Rights Agreement between the registered owner of the shares represented hereby and Assurant, Inc. Release from such terms and conditions shall be made only in accordance with
the provisions of such Agreement, copies of which are on file in the offices of Assurant, Inc.” 
  
 Stock certificates for the Shares, without the first above legend, shall be delivered to Grantee or Grantee’s designee upon request of Grantee after the expiration of the Minimum Holding Period. If the Shares are
issued in uncertificated form, during the Minimum Holding Period the Company shall instruct the transfer agent not to permit the transfer of the Shares until the expiration of the Minimum Holding Period. 
  
 7. Voting and Dividend Rights.    Grantee, as
beneficial owner of the Shares issued upon exercise of the SARs, shall have full voting and dividend rights with respect to the Shares during and after the Minimum Holding Period. 
  
 8. Beneficiary Designation.    Grantee may, in the manner determined by the Board, designate a
beneficiary to exercise the rights of Grantee hereunder and to receive any distribution with respect to the SARs upon Grantee’s death. A beneficiary, legal guardian, legal representative, or other person claiming any rights hereunder is subject
to all terms and conditions of this Agreement, the Director Plan and the Incentive Plan, and to any additional restrictions deemed necessary or appropriate by the Board. If no beneficiary has been designated or survives Grantee, the SARs may be
exercised by the legal representative of Grantee’s estate, and payment shall be made to Grantee’s estate. Subject to the foregoing, a beneficiary designation may be changed or revoked by Grantee at any time provided the change or
revocation is filed with the Board of Directors of the Company. 
  
 9. Changes in Capital Structure.    The provisions of the Director Plan and the Incentive Plan shall apply in the case of a change in the capital structure of the Company. Without limiting the foregoing, in the
event of a subdivision of the outstanding Common Stock (stock-split), a declaration of a dividend payable in Common Stock, or a combination or consolidation of the outstanding Common Stock into a lesser number of shares, the SARs and the Base Value
shall automatically be adjusted proportionately, and any resulting shares payable with respect to the Shares issued upon exercise of the SARs shall be subject to any remaining Minimum Holding Period for such Shares. 

 10. Limitation of Rights.    The SARs do not confer to Grantee or
Grantee’s beneficiary designated pursuant to Section 8 any rights of a shareholder of the Company unless and until Shares are in fact issued to such person in connection with the exercise of the SARs. Nothing in this Agreement shall confer
upon Grantee any right to continue as a director of the Company. 
  
 11. Restrictions on Transfer and Pledge.    The SARs may not be pledged, encumbered, or hypothecated to or in favor of any party other than the Company, nor shall they be subject to any lien, obligation, or
liability of Grantee to any other party other than the Company. The SARs are not assignable or transferable by Grantee other than by will or the laws of descent and distribution. The SARs may be exercised during the lifetime of Grantee only by
Grantee. 
  
 12. Restrictions on Issuance of
Shares.    If at any time the Committee shall determine in its discretion, that registration, listing or qualification of the Shares covered by the SARs upon any Exchange or under any foreign, federal, or local law or
practice, or the consent or approval of any governmental regulatory body, is necessary or desirable as a condition to the exercise of the SARs, the SARs may not be exercised in whole or in part unless and until such registration, listing,
qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Committee. 
  
 13. Plan Controls.    The terms contained in the Director Plan and the Incentive Plan are incorporated into and made a part of
this Agreement, and this Agreement shall be governed by and construed in accordance with the Director Plan and the Incentive Plan. In the event of any actual or alleged conflict between the provisions of the Director Plan or the Incentive Plan and
the provisions of this Agreement, the provisions of the Director Plan and the Incentive Plan shall be controlling and determinative. 
  
 14. Successors.    This Agreement shall be binding upon any successor of the Company, in accordance with the terms of this
Agreement, the Director Plan and the Incentive Plan. 
  
 15.
Severability.    If any one or more of the provisions contained in this Agreement is invalid, illegal or unenforceable, the other provisions of this Agreement will be construed and enforced as if the invalid, illegal or
unenforceable provision had never been included. 
  
 16. Tax
Effects.    Upon exercise of the SAR, Grantee will recognize ordinary income equal to the Fair Market Value of the Shares received pursuant to such exercise, notwithstanding the Minimum Holding Period. Because Grantee
is not an employee of the Company, the Company will not withhold any of the Shares issuable upon exercise of the SAR for tax purposes. Grantee is responsible for reporting and paying any taxes incurred with respect to the exercise of the SARs.

  
 17. Notice.    Notices and
communications under this Agreement must be in writing and either personally delivered or sent by registered or certified United States mail, return receipt requested, postage prepaid. Notices to the Company must be addressed to: 
  
 Assurant, Inc. 
 One Chase Manhattan Plaza, 41st Floor 
 New York, New York 10005 
 Attn: Secretary 
  
 or any other address designated by the Company in a written notice to Grantee. Notices to Grantee will be directed to the address of Grantee then currently on file with the Company, or at any other address given by
Grantee in a written notice to the Company.Form of Restricted Stock Agreement under Assurant Long Term Incentive Plan

 Exhibit 10.27 
  
 R E S T R I C T E D  S T O C K  A G R E E M E N T 
  
 [20__] Award 
  
 Non-transferable 
  
 G R A N T  T O 
  
 (Name) 
 (“Grantee”) 
  
 by Assurant, Inc. (the “Company”) of 
  
 (Amount) 
  
 shares of its
common stock, $0.01 par value (the “Shares”) 
  
 pursuant to and subject
to the provisions of the Assurant Long Term Incentive Plan (the “ALTIP”), a sub-plan created under the Assurant, Inc. 2004 Long-Term Incentive Plan (the “Incentive Plan”), and to the terms and conditions set forth on the
following page (the “Terms and Conditions”). 
  
 Unless sooner vested in accordance with the ALTIP, the Incentive Plan, or Section 4 of the Terms and Conditions, the restrictions imposed under Section 3 of the Terms and Conditions will expire as to the following
percentage of the Shares awarded hereunder, on the following respective dates:  
  

			
	 Percentage of Shares

	 	 Date of Expiration
 of Restrictions

	 33.3%
	 	1st Anniversary of Grant
Date
	 33.3%
	 	2nd Anniversary of Grant
Date
	 33.4%
	 	3rd Anniversary of Grant
Date

  
 IN WITNESS WHEREOF,
Assurant, Inc., acting by and through its duly authorized officers, has caused this Agreement to be executed as of the Grant Date. 
  

			
	ASSURANT, INC.
		
	By:	 	 
	
	 [Authorized Officer]

  

			
	 Grant Date:
[                ]

		
	 Accepted by Grantee:
	 	 
	 	 	 (Name)

  
  

 TERMS AND CONDITIONS 
  
 1. Grant of Shares.    Assurant, Inc. (the “Company”) hereby grants to the Grantee named on Page 1
(“Grantee”), subject to the restrictions and the other terms and conditions set forth in the ALTIP, the Incentive Plan, and in this award agreement (this “Agreement”), the number of shares indicated on Page 1 of the
Company’s $0.01 par value common stock (the “Shares”). 
  
 2. Defined Terms.    Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the ALTIP or the Incentive Plan. Where a term is defined in both the ALTIP and the
Incentive Plan, the definition that is in the ALTIP shall control. 
  
 3. Restrictions.    The Shares are subject to each of the following restrictions. “Restricted Shares” mean those Shares that are subject to the restrictions imposed hereunder which restrictions have not
then expired or terminated. Restricted Shares may not be sold, transferred, exchanged, assigned, pledged, hypothecated or otherwise encumbered. Upon termination of Grantee’s Continuous Status as a Participant, Grantee shall forfeit all of
Grantee’s right, title and interest in and to the Restricted Shares as of the date of employment termination (after giving effect to any lapsed restrictions under Section 4), and such Restricted Shares shall revert to the Company
immediately following the event of forfeiture. The restrictions imposed under this Section shall apply to all shares of the Company’s common stock or other securities issued with respect to Restricted Shares hereunder in connection with any
merger, reorganization, consolidation, recapitalization, stock dividend or other change in corporate structure affecting the common stock of the Company. 
  
 4. Expiration and Termination of Restrictions.    The restrictions imposed under Section 3 will expire on the earliest to
occur of the following (the period prior to such expiration being referred to herein as the “Restricted Period”): 
  
 (a)     As to the percentages of the Shares specified on page 1, on the respective dates specified on page 1; or 
  
 (b)     As to all of the Restricted Shares, upon the
date the Company undergoes a Change of Control; or 
  
 (c)     As to a number of the Restricted Shares, upon the date of Grantee’s Retirement, death, or Disability, determined by (i) multiplying the aggregate number of Shares originally subject to this Agreement as
specified on page 1 by a fraction, the numerator of which is the number of completed calendar months from January 1 of the grant year to the date of Grantee’s Retirement, death, or Disability, and the denominator of which is thirty-six
(36), and (ii) subtracting from such amount that number of Shares which otherwise have become vested prior to the date of Grantee’s Retirement, death, or Disability. 
  
 5. Delivery of Shares.    The Shares will be registered in the name of Grantee as of the Grant
Date, will be issued in certificated or uncertificated form, and may be held by the Company during the Restricted Period. If a certificate for Restricted Shares is issued, such certificate shall be registered in the name of Grantee and shall bear a
legend in substantially the following form (in addition to any legend required under applicable state securities laws): 
  
 “This certificate and the shares of stock represented hereby are subject to the terms and conditions (including forfeiture and restrictions against
transfer) contained in a Restricted Stock Agreement between the registered owner of the shares represented hereby and Assurant, Inc. Release from such terms and conditions shall be made only in accordance with the provisions of such Agreement,
copies of which are on file in the offices of Assurant, Inc.” 
  
 Stock certificates for the Shares, without the above legend, shall be delivered to Grantee or Grantee’s designee upon request after the expiration of the Restricted Period. If the Shares are issued in uncertificated form, during the
Restricted Period the Company shall instruct the transfer agent not to permit the transfer of the Restricted Shares until the expiration of the Restricted Period. 
  
 6. Voting and Dividend Rights.    Grantee, as beneficial owner of the Shares, shall have full
voting and dividend rights with respect to the Shares during and after the Restricted Period. If Grantee forfeits any rights he may have under this Agreement in accordance with Section 3, Grantee shall no longer have any rights as a shareholder
with respect to the Restricted Shares or any interest therein, and Grantee shall no longer be entitled to receive dividends on such stock. In the event that for any reason Grantee shall have received dividends upon such stock after such forfeiture,
Grantee shall repay to the Company any amount equal to such dividends. 
  
 7. Changes in Capital Structure.    The provisions of the ALTIP and the Incentive Plan shall apply in the case of a change in the capital structure of the Company. Without limiting the foregoing, in the event of a
subdivision of the outstanding Common Stock (stock-split), a declaration of a dividend payable in Common Stock, or a combination or consolidation of the outstanding Common Stock into a lesser number of shares, the Shares then subject to this
Agreement shall automatically be adjusted proportionately. 
  
 8.
No Right of Continued Service.    Nothing in this Agreement shall confer upon Grantee any right to continue in the service of the Company or any Affiliate. 
  
 9. Payment of Taxes. 
  
 (a)     Upon issuance of the Shares hereunder, Grantee may make an election to be taxed upon such award under Section 83(b) of
the Code. To effect such election, Grantee must file an appropriate election with Internal Revenue Service within thirty (30) days after award of the Shares and otherwise in accordance with applicable Treasury Regulations. 
  
 (b)     In accordance with such procedures as the
Committee establishes, at such time that any amount related to the Shares becomes includable in Grantee’s gross income for tax purposes (the “tax date”), the Company will withhold a number of Shares having a Fair Market Value on the
date of withholding equal to the minimum amount required by law to be withheld with respect to federal, state and local taxes of any kind (including Grantee’s FICA obligation). Alternatively, if Grantee provides prior written notice to the
Company, Grantee may, no later than the tax date, pay to the Company such amounts required by law to be withheld or make other arrangements satisfactory to the Committee regarding the payment of such amounts. Such written notice shall be directed to
the Secretary of the Company or his or her designee at the address and in the form specified by the Secretary from time to time, at least 30 days prior to the tax date, unless otherwise determined by the Company in its sole discretion. The
obligations of the Company under this Agreement will be conditional on such withholding or other payment or arrangements, and the Company, and, where applicable, its Affiliates will, to the extent permitted by law, 

 
have the right to deduct any such taxes from any payment of any kind otherwise due to Grantee. 
  
 10. Plan Controls.    The terms contained in the ALTIP and the Incentive Plan are incorporated
into and made a part of this Agreement, and this Agreement shall be governed by and construed in accordance with the ALTIP and the Incentive Plan. In the event of any actual or alleged conflict between the provisions of the ALTIP or the Incentive
Plan and the provisions of this Agreement, the provisions of the ALTIP and the Incentive Plan shall be controlling and determinative. 
  
 11. Successors.    This Agreement shall be binding upon any successor of the Company, in accordance with the terms of this
Agreement, the ALTIP, and the Incentive Plan. 
  
 12.
Severability.     If any one or more of the provisions contained in this Agreement are invalid, illegal or unenforceable, the other provisions of this Agreement will be construed and enforced as if the invalid, illegal or
unenforceable provision had never been included. 
  
 13.
Notice.    Notices and communications under this Agreement must be in writing and either personally delivered or sent by registered or certified United States mail, return receipt requested, postage prepaid. Notices to the
Company must be addressed to: 
  
 Assurant, Inc. 
 One Chase Manhattan Plaza, 41st Floor 
 New York, New York 10005 
 Attn: Secretary 
  

or any other address designated by the Company in a written notice to Grantee. Notices to Grantee will be directed to the address of Grantee then currently on file
with the Company, or at any other address given by Grantee in a written notice to the Company.

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