Document:

EX-10.32

 

EXHIBIT 10.32

FORM OF NON-EMPLOYEE DIRECTOR RESTRICTED STOCK UNIT AGREEMENT

     AGREEMENT
made as of the [   ] (the “Grant Date”), by and between The Pepsi Bottling
Group, Inc., a Delaware corporation having its principal office at One Pepsi Way, Somers, New York
10589 (“PBG”), and [   ] (“you” or the “Grantee”).

W I T N E S S E T H:

     WHEREAS, the Board of Directors of PBG (the “Board”) (which is authorized to administer the
Plan) has approved the PBG Directors’ Stock Plan as Amended and Restated (the “Plan”), for the
purposes and subject to the provisions set forth in the Plan; and

     WHEREAS, pursuant to the Plan, the Grantee has been granted an award of restricted stock units
as described herein pursuant to the Plan (the “Restricted Stock Units”); and

     WHEREAS, the Restricted Stock Units are to be evidenced by an Agreement in such form and
containing such terms and conditions, as the Board shall determine;

     NOW, THEREFORE, it is mutually agreed as follows:

     1. Grant. PBG hereby grants to you, on the terms and conditions set forth herein, an
aggregate of [   ] Restricted Stock Units subject to, and in accordance with, the
terms set forth in this Agreement. The number of Restricted Stock Units granted to you has been
calculated by dividing the face amount of the award, as established under the Plan, by the Fair
Market Value (as defined in the Plan) of a share of PBG Common Stock on the grant date established
under the Plan and rounding the result up (if necessary) to the nearest whole number.

     2. Restrictions. Subject to the terms and conditions set forth herein, your
Restricted Stock Units shall become fully vested on the Grant Date and shall be payable [on the
Grant Date [[or alternatively] one year after the Grant Date], or on such later date as you elect
in accordance with the terms of the Plan; provided, however, that in the event of
your Total Disability (as defined in Section 10 below),
separation from service as a director of PBG, or death, then you, or in the event of your
death, your legal representative (or any person to whom the Restricted Stock Units may be
transferred by will or the applicable laws of descent and distribution), shall be paid the
Restricted Stock Units in accordance with Section 3.

     3. Payment. Restricted Stock Units shall be settled in shares of PBG Common Stock
[[or alternatively] cash]. You shall receive one share of PBG Common Stock for each vested
Restricted Stock Unit. To the extent necessary for reasons of practicability, settlement may occur
after the payment date or event that applies under Section 2, but in all cases payment shall be
made within such time after the date or event as will qualify as payment on the date or event for
purposes of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”).

     4. Book Account. A book account in respect of your Restricted Stock Units shall be
maintained by PBG until the shares of PBG Common Stock are paid to you or your estate, subject to
your or your executor’s delivery of any documents which the Board or its delegate may require as a
condition to the issuance of shares of PBG Common Stock and the delivery of such shares to you or
your estate. Shares may be delivered to you or your estate by a stock certificate or certificates
registered in your name, or in such manner as you or your estate shall designate, or may be
delivered through book entry transfer, where available.

 

 

     5. Dividend Equivalents. During any deferral period, you shall accumulate dividend
equivalents with respect to the Restricted Stock Units, which dividend equivalents shall be paid in
shares (rounded up, if necessary, to the nearest share) to you only when any deferral period ends
and the Restricted Stock Units become payable. Dividend equivalents shall equal the dividends
actually paid with respect to PBG Common Stock during any deferral period.

     6. Misconduct. If the Board determines that the Grantee has committed “Misconduct” at
any time prior to, or within twelve months after, the payment of any Restricted Stock Units, then
the Board may, in its sole discretion cancel any outstanding Restricted Stock
Units. Misconduct occurs if a majority of the Board determines that you: (a) engaged in any act
which is considered to be contrary to PBG’s best interests, including, but not limited to,
recruiting or soliciting employees of PBG; (b) violated PBG’s Code of Conduct or engaged in any
other activity which constitutes gross misconduct; (c) engaged in unlawful trading in the
securities of PBG or of any other company based on information gained as a result of your service
as a Director of PBG; or (d) disclosed to an unauthorized person or misused confidential
information or trade secrets of PBG.

     7. Adjustment for Change in Common Stock. In the event of (a) any change in the
outstanding shares of PBG Common Stock by reason of any split, stock dividend, recapitalization,
merger, reorganization, consolidation, combination or exchange of shares, (b) any separation of a
corporation (including a spin-off or other distribution of assets of PBG to its shareholders), (c)
any partial or complete liquidation, or (d) other similar corporate change, such equitable
adjustments shall be made in your Restricted Stock Unit award as the Board determines are necessary
and appropriate, including, if necessary, an adjustment in the maximum number or kind of shares
subject to the Restricted Stock Unit award (including the conversion of shares subject to the
Restricted Stock Unit award from PBG Common Stock to stock of another entity). Such adjustment
shall be conclusive and binding for all purposes of the Plan and this Agreement.

     8. Registration, Listing and Qualification of Shares. The Restricted Stock Units
shall be subject to the requirements that if, at any time, the Board determines that the
registration, listing or qualification of shares covered hereby upon any securities exchange or
under any foreign, federal, state or local law, or the consent or approval of any governmental
regulatory body, is necessary or desirable as a condition of, or in conjunction with, the granting
of the Restricted Stock Units, no shares shall be issued until such registration, listing,
qualification, consent or approval shall have been effected or obtained free of any condition not
acceptable to the Board. The Board may require that you make such representations and agreements
and furnish such information as the Board deems appropriate to assure compliance with or exemption
from the foregoing or any other applicable legal requirement, and may cause the certificate or
certificates issued to you to bear a legend indicating the existence of any restriction resulting
from such representations or agreements.

     9. Nontransferability. Unless the Board specifically determines otherwise, the
Restricted Stock Units are personal to the Grantee and shall not be transferable or assignable,
other than by will or the laws of descent and distribution, and any such purported transfer or
assignment shall be null and void.

     10. Definition. As used in this Agreement, the term “Total Disability” shall mean
becoming “disabled” within the meaning of Code section 409A(a)(2)(C).

     11. Notices. Any notice to be given to PBG under the terms of this Agreement shall be
addressed to PBG’s Executive Compensation Group at One Pepsi Way, Somers, New York 10589, or such
other address as PBG may hereafter designate to the Grantee. Any such notice shall be deemed to
have been duly given when personally delivered, addressed as aforesaid, or when enclosed in a
properly sealed envelope or wrapper, addressed as aforesaid, and deposited, postage prepaid, with
the federal postal service.

2

 

     12. Binding Effect.

     (a) This Agreement shall be binding upon and inure to the benefit of any assignee or successor
in interest to PBG, whether by merger, consolidation or the sale of all or substantially all of
PBG’s assets. PBG will require any successor (whether direct or indirect, by purchase, merger,
consolidation or otherwise) to all or substantially all of the business and/or
assets of PBG to expressly assume and agree to perform this Agreement in the same manner and to the
same extent that PBG would be required to perform it if no such succession had taken place.

     (b) This Agreement shall be binding upon and inure to the benefit of the Grantee or his legal
representative and any person to whom the Restricted Stock Unit award may be transferred by will or
the applicable laws of descent and distribution.

     13. No Rights to Continue as a Director. The Restricted Stock Units granted to you
hereunder do not confer on you any right to continue as a Director of PBG or interfere in any way
with PBG’s right to determine the terms of your directorship. This Agreement shall survive the
termination of the Grantee’s directorship for any reason.

     14. Amendment; Waiver. No provision of this Agreement may be materially amended or
waived unless agreed to in writing and signed by the Board, and no such amendment or waiver shall
cause the Agreement to violate Code section 409A. Any such amendment to this Agreement that is
materially adverse to the Grantee shall not be effective unless and until the Grantee consents, in
writing, to such amendment (provided that any amendment that is required to comply with Code
section 409A shall be effective without consent unless the Grantee expressly denies consent to such
amendment in writing). The failure to exercise, or any delay in exercising, any right, power or
remedy under this Agreement shall not waive any right, power or remedy which PBG has under this
Agreement.

     15. Severability or Reform by Court. In the event that any provision of this
Agreement is deemed by a court to be broader than permitted by applicable law, then such provision
shall be reformed (or otherwise revised or narrowed) so that it is enforceable to the fullest
extent permitted by applicable law. If any provision of this Agreement shall be declared by a
court to be invalid or unenforceable to any extent, the validity or enforceability of the remaining
provisions of this Agreement shall not be affected.

     16. Prospectus. You hereby acknowledge that you have received a copy of the
Prospectus relating to the Plan. You also consent to receive stockholder information, including
copies of any annual report, proxy statement and Form 10-K, from the investor relations section of
the PBG website at www.pbg.com. You acknowledge that this consent may be withdrawn only by written
notice in accordance with Section 10, which notice may be given at any time, and that written
copies of the Plan, Plan Prospectus, other Plan information and stockholder information are
available by written request to PBG’s Secretary.

     17. Plan Controls. The Restricted Stock Unit award and the terms and conditions set
forth herein are subject in all respects to the terms and conditions of the Plan and any operating
guidelines or other policies or regulations which govern administration of the Plan (“Plan
Guidelines”), which shall be controlling, except to the extent this Agreement is more restrictive
than is required under the Plan or Plan Guidelines and except to the extent provided in this
Section 17. PBG reserves its rights to amend or terminate the Plan at any time without the consent
of the Grantee; provided, however, that the limitations on amending this Restricted
Stock Unit award under Section 14 above shall apply to any Plan amendment that would have a
material adverse effect on the award, and such amendment or termination shall not cause the
Agreement to violate Code section 409A. All interpretations or determinations of the Board or its
delegate shall be final, binding and conclusive upon the Grantee (and his legal representatives and
any recipient of a transfer of the Restricted Stock Unit award) on any question arising hereunder
or under the Plan, the Plan Guidelines or other policies or regulations which govern administration
of the Plan.

3

 

     18. Compliance with Law. The Grantee further agrees to seek all necessary approval
under, make all required notifications under and comply with all laws, rules and regulations
applicable to the ownership of stock options, rights and stock and the payment of the Restricted
Stock Units, including, without limitation, currency and exchange laws, rules and regulations.

     19. Governing Law and Documents. This Agreement shall be governed by, construed and
enforced in accordance with the laws of the state of Delaware, without giving effect to conflict of
laws principles.

     Please indicate your understanding and acceptance of the foregoing by signing and returning a
copy of this Agreement.

	 	 	 	 	 
	 	The Pepsi Bottling Group, Inc.	 
	 	 	 
	 	 	 
	 	BY:	 	 
	 	 	 
	 

I confirm my understanding of the foregoing

and accept the Restricted Stock Unit award described above subject

to the terms and conditions described herein.

 

4EX-4.09

 

Exhibit 4.09

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

SUPPLEMENTAL INDENTURE No. 1

     SUPPLEMENTAL INDENTURE No. 1, dated as of December 27, 2000, between THE HARTFORD FINANCIAL
SERVICES GROUP, INC., a Delaware corporation (formerly known as ITT Hartford Group, Inc.) (the
“Company”), and THE CHASE MANHATTAN BANK as successor to THE CHASE MANHATTAN BANK (NATIONAL
ASSOCIATION), a Delaware banking corporation, as Trustee (the “Trustee”).

Recitals

     WHEREAS, the Company has heretofore executed and delivered to the Trustee a Senior Indenture,
dated as of October 20, 1995 (the “Indenture”), providing for the issuance from time to time of
series of the Company’s Securities (as defined in the Indenture);

     WHEREAS, Section 901(4) of the Indenture provides for the Company and the Trustee to enter
into an indenture supplemental to the Indenture to change or eliminate any of the provisions of the
Indenture, provided that any such change or elimination shall become effective only when there is
no Security Outstanding (as defined in the Indenture) of any series created prior to the execution
of such supplemental indenture which is entitled to the benefit of such provision;

     WHEREAS, the Company wishes to amend Section 301 of the Indenture to provide for the issuance
of Securities that may be convertible or exchangeable into any other securities or property of the
Company.

     NOW, THEREFORE, in consideration of the covenants and agreements set forth herein and for
other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows:

     SECTION 1. Amendment. Section 301 of the Indenture is hereby amended by adding a new paragraph
(p) as set forth below, and by re-designating the existing paragraphs (p) and (q) accordingly:

          (p) the terms of any right to convert or exchange Securities of such series into any other
securities or property of the Company, and the additions or changes, if any, to this Indenture with
respect to the Securities of such series to permit or facilitate such conversion or exchange;”

     SECTION 2. Miscellaneous Provisions. (a) The Indenture, as supplemented and amended by this
Supplemental Indenture No. 1, is in all respects hereby adopted, ratified and confirmed.

1

 

     (b) This Supplemental Indenture No. 1 may be executed in any number of counterparts, each of
which shall be an original, but such counterparts shall together constitute but one and the same
instrument.

     (C) THIS SUPPLEMENTAL INDENTURE NO. 1 SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE LAWS OF
THE STATE OF NEW YORK AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF.

          IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture No. 1 to be
duly executed, as of the day and year first written above.

	 	 	 	 	 
	 	THE HARTFORD FINANCIAL SERVICES GROUP, INC.

 	 
	 	By:  	/s/ C.M. O'HALLORAN
 	 
	 	 	Name:  	C.M. O'Halloran 	 
	 	 	Title:  	Senior Vice President and

Director of Corporate Law 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Seal]

	 	 	 	 	 
	 	 	 
	 	Attest:  	      /s/ LINDA C. SAYLER
 	 
	 	 	Name: Linda C. Sayler 	 	 
	 	 	Title: Counsel 	 	 
	 

	 	 	 	 	 
	 	THE CHASE MANHATTAN BANK, as Trustee

 	 
	 	By:  	/s/ SHEIK WILTSHIRE
 	 
	 	 	Name:  	Sheik Wiltshire 	 
	 	 	Title:  	Second Vice President 	 
	 

[Seal]

	 	 	 	 	 
	 	 	 
	 	Attest:  	/s/ FRANCINE SPRINGER
 	 
	 	 	Name: Francine Springer 	 	 
	 	 	Title: Assistant Vice President 	 	 
	 

2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00098-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00098-of-00352.parquet"}]]