Document:

Exhibit 10.14

NI HOLDINGS, INC.

 

Growth in Book Value Per Share Performance
Share Unit Agreement

 

	Name of Participant:
	
        Target No. of Performance Share Units Covered:

        

        

        Maximum No. of Performance Share Units Covered:

        

        
	Date of Grant:

 

 

THIS PERFORMANCE SHARE UNIT AGREEMENT (this
“Agreement”) governs the Stock Unit Award granted by NI HOLDINGS, INC., a North Dakota corporation (the “Company”)
to the above-named individual (the “Participant”), in accordance with and subject to the provisions of the Company’s
2017 Stock and Incentive Plan (the “Plan”). A copy of the Plan has been made available to the Participant. Unless the
context indicates otherwise, capitalized terms that are not defined in this Agreement shall have the meaning set forth in the Plan.

 

1.       Grant
of Performance Share Units.

(a)       In
accordance with the Plan, and effective as of the Date of Grant specified above, the Company has granted to the Participant the
number of Performance Share Units specified at the beginning of this Agreement (collectively, the “Performance Share Units,”
and each a “Performance Share Unit.”). Each Performance Share Unit represents the right to receive a share of Common
Stock (a “Share”) and dividend equivalent amounts corresponding to the Share, subject to the terms and conditions of
this Agreement and the Plan.

(b)       The
Performance Share Units granted to the Participant shall be credited to an account in the Participant’s name. This account
shall be a record of bookkeeping entries only and shall be utilized solely as a device for the measurement and determination of
the number of Shares to be issued to or in respect of the Participant pursuant to this Agreement. Performance Share Units may not
be transferred by the Participant without the Committee’s prior written consent other than by will or the laws of descent
and distribution.

2.       Earned
and Vested Performance Share Units.

(a)       Except
as provided in paragraphs 2(b) through 2(e) below, if the Participant remains in the continuous employ of the Company or an Affiliate
from the Date of Grant until the last day of the Measurement Period, the Participant shall earn the number of Performance Share
Units determined by taking the percentage earned in the table shown in Exhibit 1, and multiplying the percentage times the
target number of Performance Share Units specified at the beginning of this Agreement. The number of Performance Share Units that
will 

    52 

     

    

be earned pursuant to this Section 2 will be determined by reference to the Company Growth in Book Value per Share for
the Measurement Period in Exhibit 1.

(b)       As
soon as practicable after the end of the Measurement Period, but in all events no later than ______ (the “Determination Date”),
the Committee shall certify the number of Performance Share Units (if any) that are earned and vested pursuant to the terms and
conditions hereof, and the Company shall cause the Shares issuable in connection with the vesting of any such Performance Share
Units to be issued in accordance with Section 3; provided, however, that if the Measurement Period ends on account
of the Participant’s death or a Change in Control, the Committee’s determination and certification shall not be necessary.

(c)       If
the Participant dies while employed with the Company or an Affiliate prior to the last day of the Measurement Period, then the
target number of Performance Share Units shall vest and become immediately payable.

(d)       If
the Participant remains in the continuous employ of the Company or an Affiliate from the Date of Grant until the date of a Qualifying
Termination that occurs before the last day of the Measurement Period, then (i) the Performance Share Units will remain outstanding
until the last day of the Measurement Period, (ii) the number of earned Performance Share Units shall be determined in accordance
with Section 2(a) (except, if the Measurement Period ends due to a Change in Control, the target number of Performance Share
Units shall be earned) and (iii) the Participant will have a fully vested and non-forfeitable interest in a pro rata
number of the earned Performance Share Units as of the last day of the Measurement Period. The pro rata number of earned
Performance Share Units that vest shall be determined by multiplying the total number of earned Performance Share Units by a fraction,
the numerator of which is the number of full and partial calendar months of the Participant’s employment with the Company
or an Affiliate from the first day of the Measurement Period to the date of a Qualifying Termination and the denominator of which
is the number of full calendar months in the Measurement Period. A partial month of service shall count as a full month.

(e)       If
the Participant remains in the continuous employ of the Company or an Affiliate from the Date of Grant until a Change in Control
that occurs before the last day of the Measurement Period, then the target number of Performance Share Units shall be earned and
converted into time-based Restricted Stock Units. If the Participant’s Restricted Stock Units are assumed (or substituted
or replaced with an award of equivalent value), then the converted Restricted Stock Units shall become fully vested if the Participant
remains in the continuous employ of the Company or an Affiliate until ______ or dies while employed or terminates on account of
Disability or Involuntary Termination Due to Position Elimination or Reorganization. If the Participant resigns at or after Retirement
Age, the Restricted Stock units shall continue to vest and become payable as of ______. In addition, if the Participant is involuntarily
terminated without Cause or resigns for Good Reason within twenty four (24) months following the Change in Control but prior to
______, any Restricted Stock Units (or replacement award) that remains unvested will vest in full and become non-forfeitable as
of the date of such termination. Notwithstanding the foregoing, if the Participant’s Restricted Stock Units are neither assumed
nor substituted or replaced with similar rights (or cash equivalent value thereof), then any unvested Restricted Stock Units will
vest in full and become non-forfeitable upon the Change in Control.

    53 

     

    

(f)       Any
Performance Share Units that do not vest pursuant to this Agreement shall be forfeited without consideration therefor.

3.       Issuance
and Settlement.

(a)       After
any Performance Share Units vest in accordance with Section 2, the Company shall cause to be issued to the Participant, or
to the Participant’s designated beneficiary or estate in the event of the Participant’s death, one Share in payment
and settlement of each vested Performance Share Unit, subject to applicable required tax withholding. The Committee shall cause
the Shares issuable in connection with the vesting of any such Performance Share Units to be issued as of the Determination Date
(except, in cases where there is no determination, Shares shall be issued within sixty (60) days of vesting), and the Participant
shall have no power to affect the timing of such issuance. Such issuance shall be evidenced by a stock certificate or appropriate
entry on the books of the Company or a duly authorized transfer agent of the Company and shall be in complete settlement and satisfaction
of such vested Performance Share Units.

(b)       Notwithstanding
the foregoing, if the Participant has attained or will attain Retirement Age prior to the last day of the Measurement Period under
this Agreement, such Units shall be treated as “deferred compensation” subject to section 409A of the Internal
Revenue Code (the “Code”). In such case, the following special provisions shall apply to the payment of the underlying
Shares:

(i)       if
any Performance Share Units vest and become payable on account of a Change in Control, the Performance Share Units shall not become
payable (even though non-forfeitable) unless the Change in Control constitutes a “change in control event” as defined
in Treasury Regulations promulgated under section 409A of the Code; and

(ii)       if
any Performance Share Units vest and become payable on account of the Participant’s (A) Involuntary Termination Due to Position
Elimination or Reorganization or (B) involuntary termination without Cause or resignation for Good Reason on or after a Change
in Control, the Performance Share Units shall not become payable (even though non-forfeitable) unless the termination constitutes
a “separation from service” as defined in Treasury Regulations promulgated under section 409A of the Code. In addition,
if the Participant is a Specified Employee, payment on account of separation from service hereunder shall be made as of the date
that is six months following the Participant’s separation from service (or, if earlier, upon the Participant’s death).

(c)       The
Participant may elect to satisfy any applicable required tax arising in relation to the Performance Share Units by (i) delivering
cash (including check, draft, money order or wire transfer made payable to the order of the Company) or (ii) having the Company
withhold a portion of the Shares otherwise to be delivered having a Fair Market Value equal to the amount of such tax liability
(subject to any limitations required under applicable financial accounting standards to avoid liability accounting for the Award).
In the case of clause (ii), the Company will not deliver to the Participant any fractional Shares (or equivalent cash value) remaining
after reduction for taxes; rather, any remaining fractional Shares will be cancelled without payment.

    54 

     

    

4.       Shareholder
Rights. The Performance Share Units do not entitle the Participant to any rights of a shareholder of the Company. Notwithstanding
the foregoing, the Participant shall accumulate an unvested right to payment of cash dividend equivalents on the Shares underlying
Performance Share Units if cash dividends are declared by the Company on the Shares on or after the Date of Grant. Such dividend
equivalents will be in an amount of cash per Performance Share Unit equal to the cash dividend paid with respect to one Share,
subject to applicable required tax withholding. The Participant shall be entitled solely to payment of accumulated dividend equivalents
with respect to the number of Performance Share Units equal to the number of Shares that become issuable to the Participant pursuant
to this Agreement. Dividend equivalents will be paid to the Participant as soon as administratively possible following the date
that the Shares are issued to the Participant. The Participant shall not be entitled to dividend equivalents with respect to dividends
declared prior to the Date of Grant. All dividend equivalents accumulated with respect to forfeited Performance Share Units shall
also be irrevocably forfeited. As of the date of issuance of Shares underlying Performance Share Units, the Participant shall have
all of the rights of a shareholder of the Company with respect to any Shares issued pursuant hereto.

5.       Definitions.
For purposes of this Agreement, the following shall have the following meanings:

(a)       “Cause”
means (i) the Participant’s willful conduct that is demonstrably and materially injurious to the Company or an Affiliate,
monetarily or otherwise; (ii) the Participant’s material breach of written agreement between the Participant and the
Company; (iii) the Participant’s breach of the Participant’s fiduciary duties to the Company or an Affiliate;
(iv) the Participant’s conviction of any crime (or entering a plea of guilty or nolo contendere to any crime)
constituting a felony; or (v) the Participant’s entering into an agreement or consent decree or being the subject of
any regulatory order that in any of such cases prohibits the Participant from serving as an officer or director of a company that
has publicly traded securities. A termination of the Participant shall not be for “Cause” unless the decision to terminate
the Participant is set forth in a resolution of the Board to that effect and which specifies the particulars thereof and that is
approved by a majority of the members of the Board (exclusive of the Participant if the Participant is a member of the Board) adopted
at a meeting called and held for such purpose (after reasonable notice to the Participant and an opportunity for the Participant
to be heard before the Board). No act or failure to act by the Participant will be deemed “willful” if it was done
or omitted to be done by the Participant in good faith or with a reasonable belief on the part of the Participant that the action
or omission was in the best interests of the Company or an Affiliate. Any act or failure to act by the Participant based upon authority
given pursuant to a resolution duly adopted by the Board or based on the advice of counsel to the Company shall be conclusively
presumed to be done or omitted to be done by the Participant in good faith and in the best interest of the Company and its Affiliates.

(b)       “Change
in Control” means:

(i)       the
approval of the shareholders of the Company, and consummation, of (A) any consolidation, merger or statutory share exchange
of the Company with any person in which the surviving entity would not have as its directors at least a majority of the Incumbent
Board and as a result of which those persons who were shareholders of the Company immediately prior to such transaction would not
hold, immediately after such 

    55 

     

    

transaction, at least 50% of the Voting Power of the Company then outstanding or the combined voting
power of the surviving entity’s then outstanding voting securities; (B) any sale, lease, exchange or other transfer
in one transaction or series of related transactions substantially all of the assets of the Company; or (C) the adoption of
any plan or proposal for the complete or partial liquidation or dissolution of the Company. For purposes of this Section 5(a),
“Voting Power” when used with reference to the Company shall mean the voting power of all classes and series of capital
stock of the Company now or hereafter authorized; or

(ii)       the
individuals who, as of the date of this Agreement, are members of the Board of Directors of the Company (the “Incumbent Board”)
cease for any reason to constitute at least a majority of the Board (provided, however, that if the election or nomination for
election by the Company’s shareholders of any new director was approved by a vote of at least a majority of the Incumbent
Board, such new director shall be considered to be a member of the Incumbent Board).

(c)       “Growth
in Book Value” shall have the meaning ascribed that term in Exhibit 1 attached hereto.

(d)       “Disability”
means the Participant has been determined, by a physician selected by the Company and reasonably acceptable to the Participant,
to be unable to engage in any substantial gainful activity by reason of a medically determinable physical or mental impairment
that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months.

(e)       “Good
Reason” means without the express written consent of the Participant (i) a change in the Participant’s position with
the Company or an Affiliate which results in a material diminution of the Participant’s authority, duties or responsibilities;
(ii) a material reduction by the Company or an Affiliate in the annual rate of the Participant’s base salary; or (iii) a
change in the location of the Participant’s principal office to a different place that is more than fifty miles from the
Participant’s principal office immediately prior to such change. A reduction in the Participant’s rate of annual base
pay shall be material if the rate of annual base salary on any date is less than ninety percent (90%) of the Participant’s
highest rate of annual base pay as in effect on any date in the preceding thirty-six (36) months. Notwithstanding the two preceding
sentences, a change in the Participant’s duties or responsibilities shall not constitute Good Reason, and the Participant
shall not have Good Reason to resign, solely because the Company does not have common shares or other securities that are publicly
traded. A resignation by the Participant shall not be with “Good Reason” unless the Participant gives the Company written
notice specifying the event or condition that the Participant asserts constitutes Good Reason, the notice is given no more than
ninety days after the occurrence of the event or initial existence of the condition that the Participant asserts constitutes Good
Reason and the Company has failed to remedy or cure the event or condition during the thirty day period after such written notice
is given to the Company.

(f)       “Involuntary
Termination Due to Position Elimination or Reorganization” means an involuntary termination of the Participant’s employment
by the Company or its Affiliates due to a job elimination, reduction in force, business restructuring or other circumstances the
Committee deems appropriate, in its sole discretion, as qualifying as an Involuntary Termination Due to Position Elimination or
Reorganization.

    56 

     

    

(g)       
“Measurement Period” means the period beginning on ______ and ending on the earliest of (i) ______; (ii) the
date of the Participant’s death while employed with the Company or an Affiliate; or (iii) the date of a Change in Control.

(h)       “Qualifying
Termination” means a termination of the Participant’s employment on account of (i) Disability, (ii) Retirement
or (iii) Involuntary Termination Due to Position Elimination or Reorganization.

(i)       “Retirement”
means the Participant voluntarily resigns from employment with the Company and all Affiliates after having both attained age sixty (60)
and accumulated at least seventy (70) points (“Retirement Age”). The Participant’s points shall equal the
sum of the participant’s age (in years) plus completed full years of employment with the Company and its Affiliates.

6.       No
Right to Continued Employment. This Agreement and the grant of the Stock Unit Award do not give the Participant any rights
with respect to continued employment by the Company or an Affiliate. This Agreement and the grant of the Stock Unit Award shall
not interfere with the right of the Company or an Affiliate to terminate the Participant’s employment.

7.       Change
in Capital Structure. In accordance with the terms of the Plan, the terms of this Agreement and the number and kind of Shares
shall be adjusted as the Board determines to be equitably required in the event the Company effects one or more stock dividends,
stock split-ups, subdivisions, or consolidations of shares or other similar changes in capitalization.

8.       Governing
Law; Venue. The laws of the State of North Dakota shall govern all matters arising out of or relating to this Agreement including,
without limitation, its validity, interpretation, construction and performance but without giving effect to the conflict of laws
principles that may require the application of the laws of another jurisdiction. Any party bringing a legal action or proceeding
against any other party arising out of or relating to this Agreement may bring the legal action or proceeding in the United States
District Court for the District of North Dakota or in any court of the State of North Dakota sitting in Fargo, North Dakota. Each
party waives, to the fullest extent permitted by law (i) any objection it may now or later have to the laying of venue of
any legal action or proceeding arising out of or relating to this Agreement brought in a court described in the preceding sentence
and (ii) any claim that any legal action or proceeding brought in any such court has been brought in an inconvenient forum.

9.       Conflicts.
In the event of any conflict between the provisions of the Plan as in effect on the Date of Grant and this Agreement, the provisions
of the Plan shall govern. All references herein to the Plan shall mean the Plan as in effect on the Date of Grant.

10.       Participant
Bound by Plan. The Participant hereby acknowledges that a copy of the Plan has been made available to the Participant and the
Participant agrees to be bound by all of the terms and provisions of the Plan.

11.       Binding
Effect. Subject to the limitations stated above and in the Plan, this Agreement shall be binding upon the Participant and the
Participant’s successors in interest and the Company and any successors of the Company.

    57 

     

    

12.       Recoupment.
The Participant acknowledges and agrees that the Participant’s rights in the Performance Share Units, Shares and any dividends,
dividend equivalents or other distributions paid or payable with respect to the Performance Share Units or Shares are subject to
recoupment or repayment if, and to the extent that, such action is required under applicable law or any Company recoupment or “clawback”
policy.

IN WITNESS WHEREOF, the Company and the Participant
have executed this Performance Share Unit Agreement as of the date first set forth above.

 

	NI HOLDINGS, INC.	 	[NAME OF PARTICIPANT]
	 	 	 	 
	 	 	 	 
	By:	 	 	 
	 	 	 	 
	Name:	 	 	 
	 	 	 	 
	Title:	 	 	 

 

 

 

    58Exhibit

Exhibit 10.31
EQUINIX, INC. 2000 EQUITY INCENTIVE PLAN
NOTICE OF RESTRICTED STOCK UNIT AWARD
FOR EXECUTIVES

You have been granted the number of restricted stock units (“Restricted Stock Units”) indicated below by Equinix, Inc. (the “Company”) on the following terms:
Name:                     
Employee Id #:                
Restricted Stock Unit Award Details:

Date of Grant:                February 27, 2018            
Award Number:                        
Minimum Restricted Stock Units (0%):     
Target Restricted Stock Units (83%):    
Max Restricted Stock Units (100%):    

Each Restricted Stock Unit represents the right to receive one share of the Common Stock of the Company, and any Dividend Equivalents thereon prior to settlement, subject to the terms and conditions contained in this Notice of Restricted Stock Unit Award for Executives and the Restricted Stock Unit Agreement (together, the “Agreement”).  Capitalized terms not otherwise defined in this Agreement shall have the meaning set forth in the 2000 Equity Incentive Plan (the “Plan”).

Vesting Schedule:
Vesting is dependent upon continuous active service as an employee, consultant or director of the Company or a subsidiary of the Company (“Service”) throughout the vesting period.  The Restricted Stock Units shall become eligible to vest upon a determination by the Board or Committee that the Company has achieved revenue and/or adjusted funds from operations (“AFFO”) goals for 2018 of greater than $____ million and/or $_____ million, respectively, as set forth on the attached Exhibit A, and if achieved, then the Restricted Stock Units, and any Dividend Equivalents thereon, shall vest in a number of shares determined based on the degree of achievement of the revenue and AFFO targets as set forth on the matrix attached as Exhibit A, and at the following times:
		
	•
	with respect to 50% of those units on the date upon which the Board or Committee certifies that the Company has achieved revenue and/or AFFO goals of greater than $_____ million and/or $_____ million, respectively, for 2018;

		
	•
	with respect to 25% of those units on February 15, 2020; and

		
	•
	with respect to the remaining 25% of those units on February 15, 2021.

The revenue and AFFO goals set forth above will exclude the impact of fluctuations in foreign currencies against the foreign currency rates used in the Company’s 2018 operating plan.
The Board or Committee may adjust the revenue and AFFO goals set forth above from time to time prior to the 2018 fiscal year end to take into account the financial impacts of discontinued operations, the cumulative effect of accounting changes, acquisitions or divestitures, sales of assets and/or IBX expansions not currently contemplated by the Company.
Any Restricted Stock Units, and Dividend Equivalents thereon, that fail to vest based on the Company’s achievement of revenue and AFFO goals based on the matrix set forth on Exhibit A hereto shall be forfeited to the Company immediately following the certification by the Board or Committee of the Company’s achievement of the revenue and AFFO goals for 2018.
In the event of a Change in Control before the end of the 2018 fiscal year, vesting of these Restricted Stock Units, and any Dividend Equivalent thereon, shall no longer be dependent on achievement of the revenue and AFFO goals described above.  Instead, subject to your continued Service through the applicable vesting date, 50% of the Target Restricted Stock Units, and any Dividend 

Equivalent thereon, will vest on February 15, 2019, 25% of the Target Restricted Stock Units, and any Dividend Equivalent thereon, will vest on February 15, 2020 and the remaining 25% of the Target Restricted Stock Units, and any Dividend Equivalent thereon, will vest on February 15, 2021.  The remaining Restricted Stock Units, and any Dividend Equivalents thereon, shall be forfeited to the Company (and such forfeited Restricted Stock Units, and any Dividend Equivalents thereon, will not accelerate in the event this Award is not assumed or substituted with a new award).
By your signature and the signature of the Company’s representative below, you and the Company agree that the Restricted Stock Units, and any Dividend Equivalents thereon, are granted under and governed by the terms and conditions of the Plan and the Agreement that is attached to and made a part of this document.
You further agree that the Company may deliver by email all documents relating to the Plan or this Award (including, without limitation, prospectuses required by the U.S. Securities and Exchange Commission) and all other documents that the Company is required to deliver to its security holders (including, without limitation, annual reports and proxy statements).  You also agree that the Company may deliver these documents by posting them on a web site maintained by the Company or by a third party under contract with the Company.  If the Company posts these documents on a web site, it will notify you by email.
By your signature below, you further agree to cover all Tax-Related Items as defined in the Agreement.
RECIPIENT:        EQUINIX, INC.
Signature:                        By:  /s/ Peter Van Camp    
Print Name:                          Title:  CEO & President     
Date:_____________________________________

EQUINIX, INC. 2000 EQUITY INCENTIVE PLAN 
RESTRICTED STOCK UNIT AGREEMENT
	
		
	Payment for Shares
	No payment is required for the Restricted Stock Units, and any Dividend Equivalents thereon, you receive.

	Vesting
	The Restricted Stock Units, and any Dividend Equivalents thereon,  that you are receiving will vest in accordance with the Vesting Schedule stated in the Notice of Restricted Stock Unit Award for Executives; provided, however, that if your Service terminates due to your death then, if and to the extent Restricted Stock Units, and any Dividend Equivalent thereon, have been earned based on the actual performance results as certified by the Board or Committee based on the matrix set forth on Exhibit A hereto, the portion of the Restricted Stock Units, and any Dividend Equivalents thereon, that would have become vested on the next scheduled vesting date will become vested and the underlying shares (and cash equal to the Dividend Equivalents thereon) will be released to your estate not later than December 31 of the calendar year following your death.

	 
	No additional Restricted Stock Units, or any Dividend Equivalents thereon, vest after your Service has terminated for any reason. It is intended that vesting in the Restricted Stock Units, and any Dividend Equivalents thereon, is commensurate with a full-time work schedule. For possible adjustments that may be made by the Company, see the provision below entitled “Leaves of Absence and Part-Time Work.”

	Dividend Equivalents
	You will be credited with Dividend Equivalents equal to the dividends you would have received if you had been the record owner of the Common Stock underlying the Restricted Stock Units on each dividend record date on or after the Date of Grant and through the date you receive a settlement pursuant to the provision below entitled “Settlement of Units” (the “Dividend Equivalent”).   Dividend Equivalents shall be subject to the same terms and conditions as the Restricted Stock Units originally awarded pursuant to this Agreement, and they shall vest (or, if applicable, be forfeited) as if they had been granted at the same time as the original Restricted Stock Unit award. If a dividend on the Common Stock is payable wholly or partially in Common Stock, the Dividend Equivalent representing that portion shall be in the form of additional Restricted Stock Units, credited on a one-for-one basis.  If a dividend on the Common Stock is payable wholly or partially in cash, the Dividend Equivalent representing that portion shall be in the form of cash, which will be paid to you, without interest, as described below in the provision “Settlement of Units;” provided, however, that the Committee may, in its discretion, provide that the cash portion of any extraordinary distribution on the Common Stock shall be in the form of additional Restricted Stock Units.  If a dividend on the Common Stock is payable wholly or partially in other than cash or Common Stock, the Committee may, in its discretion, provide for such Dividend Equivalents with respect to that portion as it deems appropriate under the circumstances.

	Settlement of Units
	Each Restricted Stock Unit, and any Dividend Equivalents thereon, will be settled on the first Trading Day that occurs on or after the day when the Restricted Stock Unit vests.  However, each Restricted Stock Unit, and any Dividend Equivalents thereon, must be settled not later than March 15 of the calendar year after the calendar year in which the Restricted Stock Unit vests (or December 31 of such calendar year in the case of your death, as described above in the provision entitled “Vesting”).
At the time of settlement, you will receive one share of the Company’s Common Stock for each vested Restricted Stock Unit and an amount of cash, without additional earnings and rounded to the nearest whole cent, equal to (i) any fractional shares and (ii) the cash portion of the accumulated Dividend Equivalents applicable to the vested Restricted Stock Units, less any Tax-Related Items withholding.  Any cash may be distributed to you directly or may be used to offset the amount of any Tax-Related Items withholding arising from the vesting/settlement of the Restricted Stock Units and any Dividend Equivalents thereon.

	
		
	Trading Day
	“Trading Day” means a day that satisfies each of the following requirements:
•   The Nasdaq Global Market is open for trading on that day;
•   You are permitted to sell shares of Common Stock on that day without incurring liability under Section 16(b) of the Securities Exchange Act;
•   Either (a) you are not in possession of material non-public information that would make it illegal for you to sell shares of the Company’s Common Stock on that day under Rule 10b-5 of the U.S. Securities and Exchange Commission or (b) you have a trading plan that complies with the requirements of Rule 10b5-1(c)(1) of the Securities Exchange Act that covers the shares underlying the vesting Restricted Stock Units;
•   Under the Company’s Insider Trading Policy, you are permitted to sell shares of Common Stock on that day, and
•   You are not prohibited from selling shares of Common Stock on that day by a written agreement between you and the Company or a third party.

	Change in Control
	Except to the extent set forth in the Notice of Restricted Stock Unit Award, in the event of any Change in Control, vesting of the Target Restricted Stock Units, and any Dividend Equivalents thereon, will automatically accelerate in full as described in Article X of the Plan. However, vesting of the Target Restricted Stock Units, and any Dividend Equivalents thereon, will not automatically accelerate if and to the extent the Restricted Stock Units are, in connection with the Change in Control, either to be assumed by the successor corporation (or its parent) or to be replaced with a comparable award for shares of the capital stock of the successor corporation (or its parent).  The determination of award comparability will be made by the Committee, and its determination will be final, binding and conclusive.

	 
	In addition, you will vest as to 50% of the unvested Target Restricted Stock Units, and any Dividend Equivalents thereon, if the Company is subject to a Change in Control before your Service terminates, and you are subject to a Qualifying Termination (as defined below) within 12 months after the Change in Control.
Notwithstanding the foregoing, any action taken in connection with a Change in Control must either (a) preserve the exemption of the Restricted Stock Units, and any Dividend Equivalents thereon, from Section 409A of the Code or (b) comply with Section 409A of the Code.

	
		
	Qualifying Termination
	A Qualifying Termination means a Separation (as defined below) resulting from: (a) involuntary discharge for any reason other than Cause (as defined below) within 12 months after a Change in Control; or (b) your voluntary resignation for Good Reason (as defined below), between the date that is four months following a Change in Control and the date that is 12 months following a Change in Control; provided, however, that the grounds for Good Reason may arise at any time within the 12 months following the Change in Control.
Cause means your unauthorized use or disclosure of trade secrets that causes material harm to the Company, your conviction of, or a plea of “guilty” or “no contest” to, a felony or your gross misconduct.
Good Reason1 means:  (i) a material diminution in your authority, duties or responsibilities; (ii) a material reduction in your level of compensation (including base salary and target bonus) other than pursuant to a Company-wide reduction of compensation where the  reduction affects the other executive officers and your reduction is substantially equal, on a percentage basis, to the reduction of the other executive officers; or (iii) a relocation of your place of employment by more than 30 miles, provided and only if such change, reduction or relocation is effected by the Company without your consent.
For vesting to accelerate as a result of a voluntary resignation for Good Reason, all of the following requirements must be satisfied:  (1) you must provide notice to the Company of your intent to assert Good Reason within 120 days of the initial existence of one or more of the conditions set forth in (i) through (iii) of the preceding paragraph; and (2) the Company will have 30 days from the date of such notice to remedy the condition and, if it does so, you may withdraw your resignation or may resign with no acceleration benefit.  Should the Company remedy the condition as set forth above and then one or more of the conditions arises again within 12 months following the occurrence of a Change in Control, you may assert Good Reason again subject to all of the conditions set forth herein.
Separation means a “separation from service,” as defined in the regulations under Section 409A of the Code

	Forfeiture
	If your Service terminates for any reason, then your Restricted Stock Units, and any Dividend Equivalents thereon, will be forfeited to the extent that they have not vested before the termination date, unless there is vesting acceleration in the event of a Qualifying Termination or in the event of your death.  This means that the Restricted Stock Units, and any Dividend Equivalents thereon, will immediately revert to the Company.  You receive no payment for Restricted Stock Units, and any Dividend Equivalents thereon, that are forfeited.  The Committee determines when your Service terminates for this purpose.

	

1 Note:  This definition of “Good Reason” is for the CEO, CFO, CLO & CHRO. All other executives have the following definition of “Good Reason”: (i) a material diminution in your authority, duties or responsibilities, provided, however, if by virtue of the Company being acquired and made a division or business unit of a larger entity following a Change in Control, you retain substantially similar authority, duties or responsibilities for such division or business unit of the acquiring corporation but not for the entire acquiring corporation, such reduction in authority, duties or responsibilities shall not constitute Good Reason for purposes of this subclause (i); (ii) a 10% or greater reduction in your level of compensation, which will be determined based on an average of your annual Total Direct Compensation for the prior three calendar years or, if less, the number of years you have been employed by the Company (referred to below as the “look-back years”); or (iii) a relocation of your place of employment by more than 30 miles, provided and only if such change, reduction or relocation is effected by the Company without your consent.  For purposes of the foregoing, Total Direct Compensation means total target cash compensation (annual base salary plus target annual cash incentives) plus the grant value of equity awards, determined at the time of grant, based on the total stock compensation (ASC Topic 718) expense associated with that award; provided, however, that if you commenced employment with the Company during the look-back years, only one-third of the grant value of the equity grant attributable to commencement of employment shall be counted.

	
		
	Leaves of Absence and Part-Time Work
	For purposes of this Award, your Service does not terminate when you go on a military leave, a sick leave or another bona fide leave of absence, if the leave was approved by the Company in writing.  But your Service terminates when the approved leave ends, unless you immediately return to active work.
If you go on a leave of absence that lasts or is expected to last seven days or longer, then vesting will be suspended during the leave to the extent provided for in the Company’s leave policy.  Upon your return to active work (as determined by the Company), vesting will resume; however, unless otherwise provided in the Company’s leave policy, you will not receive credit for any vesting until you work an amount of time equal to the period of your leave.
If you and the Company agree to a reduction in your scheduled work hours, then the Company reserves the right to modify the rate at which the Restricted Stock Units, and any Dividend Equivalents thereon, vest, so that the rate of vesting is commensurate with your reduced work schedule.  Any such adjustment shall be consistent with the Company’s policies for part-time or reduced work schedules or shall be pursuant to the terms of an agreement between you and the Company pertaining to your reduced work schedule.
The Company shall not be required to adjust any vesting schedule pursuant to this provision. Further, the vesting schedule shall not be adjusted as described in this provision to the extent that the adjustment would cause the Restricted Stock Units to be subject to, or to violate, Section 409A of the Code.

	Settlement / Stock Certificates
	No shares of Common Stock shall be issued to you prior to the date on which the Restricted Stock Units vest.  After any Restricted Stock Units vest pursuant to this Agreement, the Company shall promptly cause to be issued in book-entry form, registered in your name or in the name of your legal representatives or heirs, as the case may be, the number of shares of Common Stock representing your vested Restricted Stock Units.  No fractional shares shall be issued.

	Section 409A
	This provision applies only if the Company determines that you are a “specified employee,” as defined in the regulations under Section 409A of the Code, at the time of your “separation from service,” as defined in those regulations.  If this paragraph applies, then any Restricted Stock Units, and any Dividend Equivalents thereon, that otherwise would have been settled or paid during the first six months following your separation from service will instead be settled or paid on the first business day following the six-month anniversary of your separation from service, unless the settlement of those units is exempt from Section 409A of the Code.

	Stockholder Rights
	The Restricted Stock Units do not entitle you to any of the rights of a stockholder of the Company.  Your rights, including rights to any Dividend Equivalents, shall remain forfeitable at all times prior to the date on which you vest in your Award.  Upon settlement of the Restricted Stock Units into shares of Common Stock, you will obtain full voting and other rights as a stockholder of the Company.

	Units Restricted
	You may not sell, transfer, pledge or otherwise dispose of any Restricted Stock Units or rights under this Agreement other than by will or by the laws of descent and distribution.

	
		
	Withholding Taxes
	Regardless of any action the Company and/or, if different, your employer (the “Employer”) take with respect to any or all income tax (including U.S. federal, state and local tax and/or non-U.S. tax), social insurance, payroll tax, payment on account or other tax-related withholding (“Tax-Related Items”), you acknowledge that the ultimate liability for all Tax-Related Items legally due by you is and remains your responsibility and that the Company and/or the Employer:  (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Restricted Stock Units, including the award of the Restricted Stock Units, the vesting of the Restricted Stock Units, the issuance of shares of Common Stock in settlement of the Restricted Stock Units, the subsequent sale of shares acquired at vesting and the receipt of any Dividend Equivalents and dividends; and (b) do not commit to structure the terms of this Award or any aspect of the Restricted Stock Units to reduce or eliminate your liability for Tax-Related Items.  Prior to the relevant taxable event, you shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all withholding obligations for Tax-Related Items of the Company and/or the Employer.  With the Company’s consent, these arrangements may include (i) withholding from any cash Dividend Equivalents or shares of Company stock that otherwise would be issued to you when they vest, (ii) surrendering shares that you previously acquired, (iii) deducting the withholding taxes from any cash compensation payable to you or (iv) withholding from proceeds of the sale of shares of Common Stock issued upon settlement of the Restricted Stock Units.  Notwithstanding the foregoing, if you are an officer of the Company under section 16 of the Exchange Act, any withholding or surrender of shares of Common Stock pursuant to (i) or (ii) hereof will be approved in advance by the Board or Committee to the extent necessary to qualify such transaction as exempt under Exchange Act Rule 16b-3.  The fair market value of the shares you surrender, determined as of the date taxes otherwise would have been withheld in cash, will be applied as a credit against the withholding taxes.
The Company may refuse to deliver the shares of Common Stock to you if you fail to comply with your obligations in connection with the Tax-Related Items as described in this provision.

	Restrictions on Resale
	You agree not to sell any shares of Common Stock you receive under this Agreement at a time when applicable laws, regulations, Company trading policies (including the Company’s Insider Trading Policy, a copy of which can be found on the Company’s intranet) or an agreement between the Company and its underwriters prohibit a sale.  This restriction will apply as long as your Service continues and for such period of time after the termination of your Service as the Company may specify.

	No Retention Rights
	Except to the extent provided specifically in an agreement between you and the Company, neither this Award nor this Agreement gives you the right to be employed or retained by the Company or a subsidiary of the Company in any capacity; the Company and its subsidiaries reserve the right to terminate your Service at any time, with or without cause.

	
		
	 
	In accepting this Award, you acknowledge that: (a) the Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement; (b) the Award is voluntary and occasional and does not create any contractual or other right to receive future awards of Restricted Stock Units, and any Dividend Equivalents thereon, or benefits in lieu of Restricted Stock Units, and any Dividend Equivalents thereon, even if Restricted Stock Units have been granted repeatedly in the past; (c) all decisions with respect to future awards, if any, will be at the sole discretion of the Company; (d) your participation in the Plan is voluntary; (e) your participation in the Plan shall not create a right to further employment with your Employer and shall not interfere with the ability of your  Employer to terminate your Service at any time with or without cause; (f) the Award is an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiary of the Company, and that is outside the scope of your employment or service contract, if any; (g) the Award is not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculation of any severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or any subsidiary of the Company; (h) in the event that you are not an employee of the Company, the Award and your participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company and, furthermore, the Award and your participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Employer or any other subsidiary of the Company; (i) the future value of the underlying shares of Common Stock is unknown and cannot be predicted with certainty; (j) in consideration of the Award, no claim or entitlement to compensation or damages shall arise from termination of the Award or from any diminution in value of the Award or shares of Common Stock acquired upon vesting of the Award resulting from termination of Service (for any reason whatsoever and whether or not in breach of local labor laws); (k) the Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding your participation in the Plan or your acquisition or sale of the underlying shares of Common Stock; and (l) you are hereby advised to consult with your own personal tax, legal and financial advisors regarding your participation in the Plan before taking any action related to the Plan.

	Adjustments
	In the event of a stock split, a stock dividend or a similar change in Company stock, the number of Restricted Stock Units that will vest in any future installments will be adjusted accordingly, as provided for in the Plan.

	Repayment/Forfeiture
	Any benefits you may receive hereunder shall be subject to repayment or forfeiture as may be required to comply with (i) any applicable listing standards of a national securities exchange adopted in accordance with Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (regarding recovery of erroneously awarded compensation) and any implementing rules and regulations of the U.S. Securities and Exchange Commission adopted thereunder, (ii) recoupment requirements under any other U.S. laws or under the laws of any other jurisdiction and (iii) any policies adopted by the Company to implement such requirements, all to the extent determined by the Company in its discretion to be applicable to you.

	
		
	Data Privacy Notice and Consent
	You hereby voluntarily, explicitly and unambiguously consent to the collection, use and transfer, in electronic or other form, of your personal data as described in this Agreement and any other Restricted Stock Unit grant materials by and among, as applicable, the Employer, the Company and its other subsidiaries for the exclusive purpose of implementing, administering and managing your participation in the Plan. You understand that the Company and the Employer may hold certain personal information about you, including, but not limited to, your name, home address, email address and telephone number, date of birth, social insurance number, passport number or other identification number (e.g., resident registration number), salary, nationality, job title, any shares of stock or directorships held in the Company, details of all Restricted Stock Units or any other entitlement to shares of Common Stock awarded, purchased, canceled, vested, unvested or outstanding in your favor (“Data”), for the exclusive purpose of implementing, administering and managing the Plan. You understand that Data will be transferred to Morgan Stanley Smith Barney, E*TRADE, or such other stock plan service provider as may be selected by the Company in the future, which is assisting the Company with the implementation, administration and management of the Plan.  You understand the recipients of the Data may be located in your country, in the United States or elsewhere, and that the recipients’ country may have different data privacy laws and protections than your country.  You understand that you may request a list with the names and addresses of any potential recipients of the Data by contacting your local human resources representative.  You authorize the Employer, the Company, Morgan Stanley Smith Barney, E*TRADE and any other possible recipients that may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering and managing your participation in the Plan.  You understand that Data will be held only as long as is necessary to implement, administer and manage your participation in the Plan.  You understand that you may, at any time, view Data, request information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting your local human resources representative.  You understand, however, that refusing or withdrawing your consent may affect your ability to participate in the Plan, but any refusal or withdrawal of consent will not have any impact on your employment status or service with the Employer.  For more information on the consequences of your refusal to consent or withdrawal of consent, you understand that you may contact your local human resources representative. Finally, upon request of the Company, you agree to provide an executed data privacy consent form to the Company (or any other agreements or consents that may be requested by the Company) that the Company may deem necessary to obtain from you for the purpose of administering your participation in the Plan in compliance with the data privacy laws in your country, either now or in the future. You understand and agree that you will not be able to participate in the Plan if you fail to provide any such consent or agreement requested by the Company.

	Insider Trading Restrictions / Market Abuse Laws
	You acknowledge that, depending on your or your broker’s country of residence or where shares of Common Stock are listed, you may be subject to insider trading restrictions and/or market abuse laws, which may affect your ability to accept, acquire, sell or otherwise dispose of shares of Common Stock, rights to shares of Common Stock (e.g., Restricted Stock Units) or rights linked to the value of shares of Common Stock under the Plan during such times that you are considered to have “inside information” regarding the Company (as defined by the laws or regulations in the applicable jurisdictions or your country).  Local insider trading laws and regulations may prohibit the cancellation or amendment of orders you placed before you possessed inside information. Furthermore, you could be prohibited from (i) disclosing the inside information to any third party (other than on a “need to know” basis) and (ii) “tipping” third parties or causing them otherwise to buy or sell securities. You should keep in mind that third parties include fellow employees. Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed under any applicable Company insider trading policy.  You understand you are responsible for ensuring compliance with any restrictions and should consult with your personal legal advisor on this matter.

	Severability
	The provisions of this Agreement are severable and if any one or more provisions are determined to be invalid or otherwise enforceable, in whole or in part, the remaining provisions shall continue in effect.

	
		
	Applicable Law
	This Agreement will be interpreted and enforced with respect to issues of contract law under the laws of the State of Delaware (except their choice of law provisions).
For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this grant or this Agreement, the parties hereby submit to and consent to the exclusive jurisdiction of the State of California and agree that such litigation shall be conducted only in the courts of San Mateo County, California, U.S.A. or the federal courts for the United States for the Northern District of California, and no other courts, where this grant is made and/or to be performed.

	The Plan and Other Agreements
	The text of the Plan is incorporated in this Agreement by reference. A copy of the Plan is available on the Company’s intranet or by request to the Stock Services Department.
This Agreement and the Plan constitute the entire understanding between you and the Company regarding this Award.  Any prior agreements, commitments or negotiations concerning this Award are superseded.  This Agreement may be amended only by another written agreement between the parties.

BY SIGNING THE NOTICE OF RESTRICTED STOCK UNIT AWARD, YOU AGREE TO
ALL OF THE TERMS AND CONDITIONS DESCRIBED ABOVE AND IN THE PLAN.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00283-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00283-of-00352.parquet"}]]