Document:

Exhibit
10.9

 

LEGG
MASON, INC. 1996 EQUITY INCENTIVE PLAN

 

RESTRICTED STOCK UNIT AWARD AGREEMENT

 

Legg Mason, Inc.
(the “Company”) hereby grants to you (the “Participant”),
pursuant to the Legg Mason, Inc. 1996 Equity Incentive Plan, as amended
(the “Plan”), an award (the “Award”) of restricted share units (“RSUs”),
upon and subject to the restrictions, terms and conditions set forth
below.  Each RSU will constitute a right
to receive, upon and subject to vesting of such RSU, one share of Common Stock
(the shares of Common Stock distributable upon the vesting of RSUs hereunder
are referred to herein as “Shares”). 
This document constitutes Participant’s “Award Notification”. By electronically
accepting the Award, you are acknowledging your acceptance of the Award subject
to the restrictions and upon the terms and conditions set forth in this
Agreement and the Plan. The number of RSUs included in the Award shall be as
set forth on the third party website pursuant to which this Award Notification
is electronically delivered to Participant and in the books and records of the
Company, which shall control, absent manifest error, in the event of a
discrepancy.  The Grant Date for this
Award shall for all purposes be                    .

 

This Award is subject in
all respects to the applicable provisions of the Plan.  Such provisions are incorporated herein by
reference and made a part hereof. 
Capitalized terms that are not defined in Section 5.7 below are
defined in the Plan and shall have the meanings specified in the Plan.

 

In addition to the terms,
conditions and restrictions set forth in the Plan, all terms, conditions and
restrictions set forth in this Agreement are applicable to the Award granted
hereby.

 

1.                                      RIGHTS AS A STOCKHOLDER.

 

Until the RSUs subject to
this Award have vested under Section 3 and the underlying Shares have been
distributed under Section 2, Participant shall have no ordinary rights as
a stockholder with respect to the RSUs or such Shares other than the right to
receive dividend or distribution equivalents on the RSUs as set out below.  Therefore, until the RSUs subject to this
Award have vested and underlying Shares have been distributed, Participant
shall have no rights to receive, vote, take possession of or transfer the
Shares.  Commencing on the Grant Date,
Participant shall have the right to receive dividend and other distribution
equivalents with respect to the Shares underlying unvested RSUs that are the
subject of this Award unless and until such RSUs are forfeited pursuant to Section 3
hereof; provided, however, that for any dividend or other
distribution (including, without limitation, a stock dividend or stock split) on
shares of Common Stock that is not a cash dividend or distribution, the
dividend or distribution equivalent shall be delivered to the Company, shall be
held by the Company in accordance with Section 2 below and shall be
subject to the same vesting schedule and other restrictions as the RSUs with
respect to which such dividend or other distribution equivalent relates.  In connection with the payment of such
dividend or other distributions equivalents the Company may deduct any taxes or
other amounts required by any governmental authority to be withheld and paid
over to such authority for the account of Participant or may include such
dividend or distribution equivalent in the payroll of Participant’s employer so
that such dividend or distribution 

 

 

equivalent is included
within the compensation of Participant for withholding and other taxation
purposes.  Participant shall be entitled
to retain cash dividend and distribution equivalents received regardless of
whether the RSUs with respect to which such dividend or distribution
equivalents were made are subsequently forfeited pursuant to Section 3
hereof.  Notwithstanding anything to the
contrary, RSUs shall at all times be subject to the restrictions on
transferability contained in Section 4.1 hereof.

 

2.                                      CUSTODY AND DELIVERY OF RSUS AND
UNDERLYING SHARES.

 

RSUs subject to this
Award shall be held solely on the books and records of the Company and shall
remain as such until the RSUs have vested under Section 3 hereof.  Participant may not receive or take
possession of any Shares underlying unvested RSUs subject to this Award, either
through physical share certificates or through book-entry accounts held by, or
in the name of, Participant.  The Company
shall not allow any transfers of RSUs subject to this Award.  Upon the vesting of any RSUs subject to this
Award pursuant to Section 3, the Company will issue to Participant one
share of Common Stock for each vested RSU, at which point each such vested RSU
will terminate.  The Company shall
deliver Shares underlying RSUs subject to this Award that have vested pursuant
to Section 3 below to Participant through book entry transfer to an
account in Participant’s name at a financial institution that is selected by
the Company.  Share certificates
representing distributed Shares shall not be issued by the Company until such
Shares have been delivered to Participant’s account as specified above.  Participant hereby authorizes the Company,
and any financial institution at which the Company or Participant establishes
an account to which the Shares underlying RSUs subject to this Award will be
distributed, to transfer any Shares underlying vested RSUs to Participant’s
account as discussed above.  The Company
shall pay all original issue or transfer taxes and all fees and expenses
incident to the delivery of any Shares hereunder; provided that the Company
shall not pay the expenses related to any sale of Shares received upon vesting
of RSUs subject to this Award, regardless of whether such sale is made to
satisfy expenses or withholding or other taxes

 

3.                                      VESTING AND FORFEITURE.

 

(a)                                  Except as otherwise provided in the Plan
or in Section 3(b) of this Agreement, twenty-five percent (25%) of
the RSUs subject to Participant’s Award shall vest and be distributed in shares
of Common Stock pursuant to Section 2 (to “vest”) on each of April 30,
       , April 30,        ,
April 30,         and April 30,
        (each, a “Vesting Date”).

 

(b)                                 Participant’s right to vest in this Award is conditioned upon
Participant’s continuous employment with the Firm, except to the limited extent
to which vesting may continue following a termination of Participant’s
employment as provided below.  If
Participant’s continuous employment with the Firm terminates or is interrupted
for any reason stated below, Participant’s rights with respect to the Award
shall be affected as follows:

 

(1)                                  Resignation. 
Except as otherwise provided below, if Participant resigns or otherwise
terminates his or her employment with the Firm for any reason, Participant’s
unvested Award shall be forfeited and Participant’s vested but undistributed
Award (if any) shall be distributed to Participant in accordance with Section 2
hereof.

 

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(2)                                  Disability.  Upon termination of Participant’s employment
with the Firm by reason of his or her Disability, on the date of such
termination, Participant’s unvested Award shall be 100% vested and Shares
underlying such vested RSUs shall be distributed to Participant in accordance
with Section 2 hereof.

 

(3)                                  Death.  Upon termination of Participant’s employment
with the Firm due to death, on the date of such termination, Participant’s
unvested Award shall be 100% vested and Shares underlying such vested RSUs
shall be distributed to Participant’s beneficiaries under Section 4.2
hereof in accordance with Section 2 hereof.

 

(4)                                  Termination for Cause.  Upon termination of Participant’s employment
by the Firm for Cause, Participant’s unvested Award shall be immediately
forfeited.

 

(5)                                  Change of Control.  In
the event that a Change of Control occurs and within 12 months of such Change
of Control (i) the Participant’s employment with the Firm is terminated by
the Firm without Cause or (ii) the Participant terminates his or her
employment with the Firm for Good Reason, then, as of the date of such
termination, Participant’s unvested Award shall be 100% vested and Shares underlying
such vested RSUs shall be distributed to Participant in accordance with Section 2
hereof.

 

(6)                                  Termination without Cause.  Except as otherwise specified in this Section 3(b),
upon a termination of Participant’s employment by the Firm without Cause, Participant’s
unvested Award shall be immediately forfeited.

 

(7)                                  Termination of Employment when
Satisfying the “Rule of 15.” 
If Participant’s employment with the Firm terminates before the date on
which all RSUs subject to Participant’s Award have vested and (i) Participant,
at the time of such termination, has completed 15 years of service with the
Firm and (ii) such termination of employment is without Cause, then the
unvested portion of Participant’s Award shall continue to vest in accordance
with Section 3(a) as long as Participant does not engage in
Competitive Activity.  If Participant
engages in Competitive Activity, then the portion of Participant’s Award that
is unvested at the time Participant engages in such activity shall be
immediately forfeited.  In the event of
Participant’s death during the period in which unvested Awards are continuing
to vest under this clause (7), then, as of the date the Company becomes aware
of such death, Participant’s unvested Award shall be 100% vested and Shares underlying
such vested RSUs shall be distributed to Participant in accordance with Section 2
hereof.

 

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(8)                                  Termination of Employment Due to
Retirement.  If Participant’s employment
with the Firm terminates before the date on which all RSUs subject to
Participant’s Award have vested and (i) the reason for such termination is
Participant’s retirement pursuant to Section 7.1 (or any successor
retirement provision) of the Legg Mason Profit Sharing Plan and (ii) such
termination of employment is without Cause, then the unvested portion of
Participant’s Award shall continue to vest in accordance with Section 3(a) as
long as Participant does not engage in Competitive Activity.  If Participant engages in Competitive Activity,
then the portion of Participant’s Award that is unvested at the time
Participant engages in such activity shall be immediately forfeited.  In the event of Participant’s death during
the period in which unvested Awards are continuing to vest under this clause
(8), then, as of the date the Company becomes aware of such death, Participant’s
unvested Award shall be 100% vested and Shares underlying such vested RSUs
shall be distributed to Participant in accordance with Section 2 hereof.

 

(9)                                  Reduction in Workforce.  If Participant’s employment with the Firm
terminates before the date on which all RSUs subject to Participant’s Award
have vested and (i) such termination is due to the elimination of
Participant’s in connection with a reduction in workforce by the Firm and (ii) such
termination of employment is without Cause, then, as of the date of such
termination, Participant’s unvested Award shall be 100% vested and Shares
underlying such vested RSUs shall be distributed to Participant in accordance
with Section 2 hereof.

 

To the extent that Section 409A
of the Code applies to the vesting or distribution of any RSUS or underlying Shares
hereunder, then any vesting or distribution made in connection with or
following the Participant’s separation from service (within the meaning of Section 409A(a)(2)(A)(i) of
the Code and the regulations issued thereunder) shall not be made earlier than
the first business day of the seventh month following the Participant’s separation
from service, or if earlier the date of death of the Participant.  Any vesting or distribution that is delayed
in accordance with the foregoing sentence shall be made on the first business
day  following the expiration of such six (6) month
period.

 

4.                                      ADDITIONAL TERMS AND CONDITIONS
OF THE AWARD.

 

4.1.                            NONTRANSFERABILITY OF RSUS.

 

RSUs may not be sold,
transferred, assigned, pledged, hypothecated, encumbered or otherwise disposed
of (whether by operation of law or otherwise) or be subject to execution,
attachment or similar process.  Any such
attempted sale, transfer, assignment, pledge, hypothecation or encumbrance, or
other disposition of any such RSUs shall be null and void.

 

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4.2.                            BENEFICIARIES.

 

Participant
may designate in writing, on a form to be prescribed by and filed with the
Committee, a beneficiary to receive all or part of the Shares to be distributed
under the Plan in the event of Participant’s death.  A designation of a beneficiary may be
replaced by a new designation or may be revoked by Participant at any time and
in accordance with such rules and procedures established by the Committee
on a form prescribed by and filed with the Committee.  In the event of Participant’s death, Shares
due under the Plan in respect of RSUs with respect to which a designation of a
beneficiary has been made (to the extent it is valid and enforceable under
applicable law) shall be distributed in accordance with the Plan to the
designated beneficiary.  Distributions due
under the Plan and not subject to a beneficiary designation shall be
distributed to Participant’s estate.  If
there is any question as to the legal right of any beneficiary to receive any
distribution under the Plan, the distribution in question may be made in the
sole discretion of the Committee to the estate of Participant, in which event
the Firm shall have no further liability to anyone with respect to such
distribution.  Distribution to the
executors or administrators of the estate of Participant may be conditioned on
the delivery to the Committee of such tax waivers, letters testamentary and
other documents as the Committee may reasonably request.

 

4.3.                            RIGHT OF SET OFF.

 

Notwithstanding
any provisions of this Agreement to the contrary, the Committee, the Firm and
the Company may offset any amounts that Participant may owe to the Firm against
the shares subject to a Participant’s Award and any distributions that would
have otherwise been made to Participant under the Plan.

 

4.4.                            CONSENT TO ELECTRONIC DELIVERY.

 

In lieu of receiving
documents in paper format, Participant hereby agrees, to the fullest extent
permitted by law, to accept electronic delivery of any documents that the Firm
elects to or is required to deliver (including, but not limited to, the Prospectus
related to Participant’s Award, any supplements to that Prospectus, award
notifications and agreements, account statements, monthly or annual reports,
and all other forms or communications) in connection with Participant’s
Award.  Electronic delivery of a document
to Participant may be via a Firm e-mail system or by reference to a location on
a Firm intranet site or a third-party’s Internet site to which Participant has
access.

 

4.5.                            SECURITIES LAWS.

 

Participant hereby
represents and covenants that if in the future Participant decides to offer or
dispose of any Shares distributed with respect to vested RSUs subject to this
Award or interest therein, Participant shall do so only in compliance with this
Agreement, the Securities Act of 1933, as amended, and all applicable state and
local national securities laws as appropriate. 
As a condition precedent to the delivery to Participant of any Shares
underlying vested RSUs subject to this Award, Participant shall comply with all
regulations and requirements of any regulatory authority having control of or
supervision over the issuance of the Shares and, in connection therewith, shall
execute any documents and make any representation and warranty to the Company
which the Committee shall in its sole discretion deem necessary or advisable.

 

5

 

4.6.                            ADJUSTMENT.

 

In the event that there
occurs (a) any change in the number of outstanding shares of Common Stock
through the declaration of dividends, stock splits or the like or through any
change in the capital account of the Company or any other transaction referred
to in Section 424(a) of the Code or (b) any other change in the
capital structure of the Company or in the Common Stock, then, if applicable,
the number of RSUs subject to this award, and, if applicable, number and class
of underlying Shares, shall be adjusted as provided in the Plan.  Any decision of the Committee regarding the
amount and timing of any adjustment shall be final and conclusive.

 

4.7.                            COMPLIANCE WITH APPLICABLE LAW.

 

This Award is subject to
the condition that if the listing, registration or qualification of the Shares distributed
with respect to RSUs subject to this Award upon any securities exchange or
under any law, or the consent or approval of any governmental body, or the
taking of any other action is necessary or desirable as a condition of, or in
connection with, the vesting of RSUs or delivery of underlying Shares
hereunder, the RSUs or underlying Shares may not be delivered, in whole or in
part, unless such listing, registration, qualification, consent or approval
shall have been effected or obtained. 
The Company agrees to make every reasonable effort to effect or obtain
any such listing, registration, qualification, consent or approval.

 

By signing the Award
Notification, however, the Participant acknowledges and agrees that he or she
is and remains responsible for any local compliance requirements or regulations
in relation to the receipt, ownership and possible subsequent sale of the
Company’s Common Stock.  The Participant
also agrees that he or she is responsible for any local compliance requirements
or regulations in relation to the opening and use of a U.S. brokerage account.

 

4.8.                            WITHHOLDING; TAX MATTERS

 

(a)                                  The Company may, and the Participant
hereby authorizes the Company to, deduct an amount sufficient to satisfy all
federal, state and local withholding tax requirements arising in connection
with this Award, from payments of any kind by the Company or its subsidiaries
to which the Participant would otherwise be entitled, including without
limitation, salary, bonus and other compensation.  Alternatively the Participant may elect to
remit to the Company by check an amount sufficient to satisfy any federal,
state or local withholding tax requirements, prior to the delivery of Shares
pursuant to Section 2 hereof.  As
another alternative, the Participant may, with respect to withholding taxes
that are due upon vesting of RSUs or delivery of Shares, elect, prior to the
vesting of any RSUs subject to this Award, to irrevocably instruct the
financial institution to which the underlying Shares will be delivered upon
vesting, prior to vesting (x) to sell on behalf of Participant immediately
on vesting a sufficient number of Shares to produce funds to satisfy any
federal, state or local withholding tax requirements and (y) to pay such
funds over to the Company to satisfy such taxes and provide the Company, prior
to the applicable vesting date, with notice of such election (including a copy
of such instructions).  Notwithstanding
the foregoing, if Participant fails to either provide the check described in
the prior sentence or, if applicable, provide the irrevocable sale instructions
described in the preceding sentence, in each case by the date any withholding
tax with respect to 

 

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any RSUs or underlying Shares
is due, the Company shall, and Participant hereby authorizes the Company to,
either (i) withhold delivery of underlying Shares or deduct amounts
required to be withheld from payments of any kind by the Company or its
subsidiaries to which Participant would otherwise be entitled, including
without limitation salary, bonus and other compensation or (ii) to
irrevocably instruct the financial institution to which the Shares will be
delivered upon the related RSUs vesting (x) to sell on behalf of
Participant immediately on the RSUs vesting a sufficient number of Shares to
produce funds to satisfy any federal, state or local withholding tax
requirements and (y) to pay such funds over to the Company to satisfy such
taxes.  Participant acknowledges that in
the event the preceding sentence applies, the Company shall elect either option
contained therein in its sole discretion without any liability to the
Participant resulting from the option the Company selects or the timing under
which the Company makes and carries out the election.

 

(b)                                 The Company reserves the right to make
whatever further arrangements it deems appropriate for the withholding of taxes
in connection with any transaction contemplated by this Agreement or the Plan,
including, without limitation, providing for payments of withholding taxes by
deducting amounts required to be withheld, plus interest thereon, from payments
of any kind by the Company or any of its subsidiaries to which Participant
would otherwise be entitled.

 

4.9.                            AWARD CONFERS NO RIGHTS TO
CONTINUED EMPLOYMENT OR FUTURE AWARDS.

 

Nothing in the Plan or in
this Agreement shall confer upon Participant any right to continue in the
employ of the Company or any subsidiary of the Company for a specified period
of time or interfere with the right of the Company and its subsidiaries to
terminate such employment at any time. 
In addition, neither the Plan nor this Agreement confers any right upon
the Participant to receive future awards under the Plan.  All future awards, if any, are completely at
the discretion of the Company.  Moreover,
any awards granted under the Plan are not part of the Participant’s ordinary
compensation, employment agreement, if any, or working relationship with the
Company or any of its affiliates and will therefore not be considered as part
of such compensation, agreement or relationship in the event of severance,
redundancy or resignation, unless otherwise required by applicable law.

 

5.                                      MISCELLANEOUS PROVISIONS.

 

5.1.                            SUCCESSORS; ASSIGNMENTS AND
TRANSFERS.

 

This Agreement shall be
binding upon and inure to the benefit of any successor or successors of the
Company and any person or persons who shall, upon the death of Participant,
acquire any rights hereunder.  The rights
and interests of Participant under this Agreement may not be sold, assigned,
encumbered or otherwise transferred except in the event of death of
Participant, by will or by the laws of descent and distribution.  This Agreement may be assigned by the Company
without Participant’s consent.

 

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5.2.                            NOTICES.

 

All notices, requests or
other communications provided for in this Agreement shall be made in writing
either (a) by actual delivery to the party entitled thereto, or (b) by
mailing in the mails of the United States or, for Participants who reside in
another country, of the other country to the address of the party entitled
thereto as set forth below, via certified or registered mail, return receipt
requested.  The notice shall be deemed to
be received in case of delivery, on the date of its actual receipt by the party
entitled thereto, and in case of mailing, five days following the date of such
mailing.  Any notice mailed to the
Company shall be addressed to the Restricted Stock Administrator of the Company
at 100 International Drive, Baltimore, Maryland 21202.  Any notice mailed to Participant shall be
addressed to Participant at Participant’s address as reflected in the personnel
records of the Company.  Either party
hereto may designate a different address for notices than the one provided
herein by notice to the other.

 

5.3.                            CONSENT AND DISCLOSURE REGARDING
USE OF PERSONAL INFORMATION.

 

In connection with the
grant of the Award, and any other award under the Plan, and the implementation
and administration of the Plan, including, without limitation, Participant’s
actual participation, or consideration by the Committee for potential future
participation in the Plan at any time, it is or may become necessary for the
Firm to collect, transfer, use, and hold certain personal information regarding
Participant in and/or outside of Participant’s home country.  By accepting the Award, Participant
explicitly consents (i) to the use of such information for the purpose of
being considered for participation in future awards under the Plan (to the
extent he/she is eligible under the Plan, and without any guarantee that any
award shall be made); and (ii) to the use, transfer, processing and
storage, electronically or otherwise, of his/her personal information, as such
use has occurred to date, and as such use may occur in the future, in
connection with this Award or any other award under the Plan, as further
described below.

 

Use, transfer, storage and processing of personal
information, electronically or otherwise, may be in connection with the Company’s
internal administration of the Plan, or in connection with tax or other
governmental and regulatory compliance activities directly or indirectly
related to the Award or any other award under the Plan.  For such purposes only, personal information
may be used by third parties retained by the Company to assist with the
administration and compliance activities of the Plan, and may be transferred by
the company that employs (or any company that has employed) Participant from
Participant’s home country to other members of the Company and third parties
located in the United States and in other countries.  Specifically, those parties that may have access
to Participant’s information for the purposes described herein include, but are
not limited to, (i) human resources personnel responsible for
administering the Plan; (ii) Participant’s U.S., regional and local
employing entity and business unit management, including Participant’s
supervisor and his/her superiors; (iii) the Committee or its designee,
which is responsible for administering the Plan; (iv) the Company’s
technology systems support team (but only to the extent necessary to maintain
the proper operation of electronic information systems that support the Plan);
and (v) internal and external legal, tax and accounting advisors (but only
to the extent necessary for them to advise the Company on compliance and other
issues affecting the awards under the Plan in their respective fields of
expertise).

 

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At all times, Company personnel and third parties
shall be obligated to maintain the confidentiality of Participant’s personal
information except to the extent the Company is required to provide such
information to governmental agencies or other parties.  Such action shall always be undertaken only
in accordance with applicable law.  The
personal information that the Company may collect, process, store and transfer
for the purposes outlined above may include Participant’s name, nationality,
citizenship, work authorization, date of birth, age, government/tax
identification number, passport number, brokerage account information, or other
internal identifying information, home address, work address, job and location
history, compensation, business unit, employing entity, and Participant’s
beneficiaries and contact information. 
Participant may obtain more details regarding the access and use of
his/her personal information, and may correct or update such information, by
contacting his/her human resources representative.

 

5.4                               MARKET FLUCTUATIONS.

 

The Company is not responsible for any
foreign exchange fluctuations between the Participant’s local currency, if the
Participant is not located in the U.S., and the U.S. dollar nor is the Company
responsible or liable for any decrease in the value of the Company’s Common
Stock at any time, all of which shall be solely the risk and responsibility of
the Participant.

 

5.5.                            CONFLICT; GOVERNING LAW.

 

In the event of a
conflict between this Agreement and the Plan, the Plan shall control.  This Agreement shall be governed by, and
interpreted in accordance with, the internal laws of the State of New York  (without regard to conflicts of laws rules thereof).

 

5.6                               COUNTERPARTS.

 

This Agreement may be
executed in two or more counterparts each of which shall be deemed an original
and all of which together shall constitute one and the same instrument.

 

5.7                               DEFINITIONS.

 

Unless otherwise defined herein, the following terms have
the meanings set forth below.

 

“Cause” means any one or more of the following
types of behavior by Participant which the Firm in its sole discretion finds to
be sufficient reason to terminate the Participant’s employment with the
Firm:  (i) any conduct (a) that
constitutes Competitive Activity, (b) that breaches any obligation to the Firm or
Participant’s duty of loyalty to the Firm, or (c) that is materially
injurious to the Firm, monetarily or otherwise; (ii) material violation of, or an act taken by the failure to act
which causes the Firm to be in violation of any government statue or
regulation, or of the constitution, by-laws, rules or regulations of any
securities or commodities exchange or a self-regulatory organization, or of the
policies of the Firm; (iii) the entering of an order or decree or the
taking of any similar action with respect to Participant which substantially
impairs such Participant from performing his or her duties or makes him or her
ineligible from being associated with the Company pursuant 

 

9

 

to Section 9 of the Investment Company Act of 1940, as amended, or Section 203(f) of
the Investment Advisors Act of 1940, as amended; (iv) malfeasance,
disloyalty or dishonesty in any material respect; (v) any conviction for a
felony: (vi) any failure to devote all professional time to assigned
duties and to the business of the Firm; (vii) failure to satisfactorily
perform duties, as determined by the Firm’s management in its sole discretion,
or gross misconduct or gross negligence in the performance of duties; or (viii) failure
to remain licensed to perform duties or other act, conduct or circumstance
which renders the Participant ineligible for employment with the Firm.

 

“Change of Control” means any of the following
events: (i) any person, including a “person” as such term is used in Section 14(d)(2) of
the Securities Exchange Act of 1934, as amended, acquires, directly or
indirectly, beneficial  ownership of
securities representing 50.1% or more of the combined voting power of the
outstanding equity securities of the Company; (ii) the closing of any
merger, consolidation or other reorganization involving the Company with
respect to which the stockholders of the Company immediately prior to such
reorganization do not hold, directly or indirectly, more than 50% of the
combined voting power of the outstanding equity securities of such successor
entity immediately following such transaction; (iii) the closing of any
transaction involving a sale of assets of the Company that have a total gross
fair market value equal to or more than 40% of the total gross fair market
value of all of the assets of the Company; (iv) the adoption of any plan
or proposal for the liquidation or dissolution of the Company; or (v) within
any 12-month period, individuals who, as of May 15,        ,
constitute the board of directors of the Company (the “Incumbent Board”) cease
for any reason to constitute at least a majority of such board; provided,
however, that any individual becoming a director subsequent to such date whose
election, or nomination for election by the Company’s stockholders, was
approved by a vote of at least a majority of the directors then comprising the
Company’s board of directors shall be considered as though such individual were
a member of the Incumbent Board.

 

“Code” means the Internal Revenue Code of 1986,
as amended.

 

“Committee” means the Compensation Committee of
the Company’s Board of Directors or such committee or persons designated by that
Compensation Committee to act on its behalf.

 

“Common Stock” means Legg Mason, Inc. common
stock, par value $.10 per share.

 

“Competitive Activity” means Participant’s
engagement in any activity that competes with any of the Firm’s business
operations, as determined by the Committee, in its sole discretion, and shall
include, without limitation, representing in any capacity, other than as an
outside director, a company that competes with the Company and its subsidiaries.

 

“Disability” means a medically determinable
physical or mental impairment which qualifies the Participant for total
disability benefits under the Social Security Act; or which, in the opinion of
the Committee (based upon such evidence as it deems satisfactory):  (i) can be expected to result in death
or to last at least 12 months and (ii) will prevent the 

 

10

 

Participant from performing his usual duties or any
other similar duties available in the Firm’s employ.

 

“Firm” means, except as otherwise provided
under Section 409A of the Code and the regulations promulgated thereunder,
the employing entity of any individual determined by the Committee to be a
participant in the Plan and, if the employing entity of any Participant should
change to another affiliate of the Company, such other affiliate.

 

“Good Reason”
means (i) a material adverse change in the responsibilities of the
Participant from those in effect prior to the Change of Control and (ii) the
Participant’s principal place of employment is moved more than 50 miles from
the location immediately prior to the Change of Control, (iii) the
Participant’s base salary is significantly reduced or (iv) Participant’s
incentive compensation for a fiscal year is materially reduced from his or her
incentive compensation for the prior fiscal year, and such reduction is not
related to a reduction in the responsibilities of the Participant or either
individual or corporate performance.

 

“Grant Date” means the “Grant Date” set forth
in the Participant’s Award Notification.

 

“Legg Mason Profit Sharing Plan” means the Legg
Mason & Co., LLC Profit Sharing and 401(k) Plan and Trust, as
such plan may be amended from time to time.

 

 

	
   

  	
  LEGG MASON, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name: Thomas C.
  Merchant

  
	
   

  	
  Title: Secretary

  

 

11Exhibit
10(f)(f)(f)

 

STOCK NOTIFICATION AND AWARD
AGREEMENT

 

 

 

	
  Name:

  	
  Employee
  ID:

  
	
   

  	
   

  
	
  Manager
  Name:

  	
   

  
	
   

  	
   

  
	
  Department:

  	
   

  

 

 

 

Congratulations on receiving a stock award.  This award reflects your management team’s
recognition of your significant contributions to Hewlett-Packard Company’s
success.

 

HP has long been known for talented employees like you who have an
unwavering commitment to HP’s customers, driving growth and profitability and
creating value. Stock awards are one important way we demonstrate our commitment
to rewarding your strong performance and individual achievements. Thank you for
your hard work and commitment to building a successful company.

 

Once again, congratulations on a job well done.

 

 

	
   

  
	
  Grant Date:

  
	
   

  
	
  Grant
  Number:

  
	
   

  
	
  Grant Price:

  
	
   

  
	
  Award Amount:

  
	
   

  
	
  Award Type/Sub
  Type:

  
	
   

  
	
  Expiration Date:

  
	
   

  
	
  Plan:

  
	
   

  
	
  Program Type:

  
	
   

  
	
  Vesting Schedule:

  
	
   

  

 

Restricted Stock Units

 

THIS STOCK NOTIFICATION AND AWARD AGREEMENT, as of the
Grant Date noted above between Hewlett-Packard Company, a Delaware Corporation
(“Company”), and  the employee named above (“Employee”),
is entered into as follows:

 

WHEREAS, the continued participation of the Employee
is considered by the Company to be important for the Company’s continued
growth; and

 

WHEREAS, in
order to give the Employee an incentive to continue in the employ of the
Company and to participate in the affairs of the Company, the HR and
Compensation Committee of the Board of Directors of the Company or its
delegates (“Committee”) has determined that the Employee shall be granted
restricted stock units 

 

1

 

representing
hypothetical shares of the Company’s common stock (“RSUs”), with each RSU equal
in value to one share of the Company’s $0.01 par value common stock (“Shares”),
subject to the restrictions stated below and in accordance with the terms and
conditions of the Plan named above, a copy of which can be found on the Stock
Incentive Program website at: [URL] or by written
or telephonic request to the Company Secretary.

 

THEREFORE,
the parties agree as follows:

 

1.              Grant of
Restricted Stock Units.

Subject to the terms and conditions of this Stock
Notification and Award Agreement and of the Plan, the Company hereby grants to
the Employee  the number of RSUs set forth
above.

 

2.              Vesting
Schedule.

The interest of the Employee in the
RSUs shall vest according to the vesting schedule set forth above, or if
earlier, in accordance with Section 7, below. Unless, the provisions of Section 7
apply, the Employee must remain in the employ of the Company on a continuous,
full-time basis through the close of business on the last Vesting Date, as set
forth above, for  the
interest of the Employee in the RSUs shall become fully vested on that date.

 

3.              Benefit Upon
Vesting.

Within 90 days of each date set forth
on the above vesting schedule, the Company shall issue or pay, as applicable,
to the Employee Shares or a combination of cash and Shares, as the Company
determines in its sole discretion, equal to:

(a)  the number of RSUs that
have vested multiplied by the fair market value (as defined in the Plan) of a
Share on the date on which such RSUs vest; and

 

(b) a dividend equivalent
payment determined by:

 

(1)         multiplying
the number of vested RSUs by the dividend per Share on each dividend payment
date between the date hereof and the vesting date to determine the dividend
equivalent amount for each dividend payment date;

 

(2)         dividing the
amount determined in (1) above by the fair market value of a Share on the
date of such dividend payment to determine the number of additional RSUs to be
credited to the Employee; and

 

(3)         multiplying
the number of additional RSUs determined in (2) above by the fair market
value of a Share on the vesting date to determine the aggregate amount of dividend
equivalent payments for such vested RSUs;

 

provided, however, that if any
aggregated dividend equivalent payments in paragraph (b)(3) above results
in a payment of a fractional share, such fractional share shall be rounded up
to the nearest whole share. 
Notwithstanding the foregoing to the contrary, in the event that the
provisions of Section 7 apply, the issuance or payment to the Employee, as
applicable, shall be made in accordance with the vesting schedule set forth
above.

 

4.              Restrictions.

(a)         Except as
otherwise provided for in this Stock Notification and Award Agreement, the RSUs
or rights granted hereunder may not be sold, pledged or otherwise transferred
until the RSUs become vested in accordance with the vesting schedule set forth
above.  The period of time between the
date hereof and the date the RSUs become fully vested is referred to herein as
the “Restriction Period.”

 

(b)         Except as
otherwise provided for in this Stock Notification and Award Agreement, if the
Employee’s employment with the Company is terminated at any time for any reason
prior to the lapse of the Restriction Period, all RSUs granted hereunder shall
be forfeited by the Employee.

 

5.              Custody of
Restricted Stock Units.

The RSUs subject hereto shall be held in escrow in a restricted
book entry account with the Company’s transfer agent in the name of the
Employee.  Upon termination of the
Restriction Period, if the Company determines, in its sole discretion, to issue
Shares pursuant to Section 3 above, such Shares shall be released into an
unrestricted book entry account with the Company’s transfer agent; provided,
however, that a portion of such Shares shall be surrendered in payment of
required withholding taxes in accordance with Section 10 below, unless the
Company, in its sole discretion, establishes alternative procedures for the
payment of required withholding taxes.

 

2

 

6.              No
Stockholder Rights.

RSUs represent hypothetical Shares.  During the Restriction Period, the Employee
shall not be entitled to any of the rights or benefits generally accorded to
stockholders.

 

7.              Disability or
Retirement of the Employee.

If the Employee’s termination of employment is due to the
Employee’s total and permanent disability or retirement, in accordance with the
applicable retirement policy, all outstanding and unvested RSUs shall continue
to vest in accordance with Section 2, provided that the following
conditions are met for the entire Restriction Period:

(a)         The Employee
shall render, as an independent contractor and not as an Employee, such
advisory or consultative services to the Company as shall reasonably be
requested by the Company, consistent with the Employee’s health and any other
employment or other activities in which such Employee may be engaged;

 

(b)         The Employee
shall not render services for any organization or engage directly or indirectly
in any business which, in the opinion of the Company, competes with or is in
conflict with the interests of the Company;

 

(c)          The Employee
shall not, without prior written authorization from the Company, disclose to
anyone outside the Company, or use in other than the Company’s business, any
confidential information or material relating to the business of the Company,
either during or after employment with the Company; and

 

(d)         The Employee
shall disclose promptly and assign to the Company all right, title and interest
in any invention or idea, patentable or not, made or conceived by the Employee
during employment by the Company, relating in any manner to the actual or
anticipated business of the Company, anything reasonably necessary to enable
the Company to secure a patent where appropriate in the United States and in
foreign countries.

 

8.              Death of the
Employee.

In the event of the Employee’s death prior to the end of the
Restriction Period, then within 90 days of the Employee’s death the Employee’s
estate or designated beneficiary shall have the right to receive a pro rata
payment of cash, Shares or combination of cash and Shares, as the Company
determines in its sole discretion.  In
the event of the Employee’s death after the vesting date but prior to the
payment associated with such the RSUs, then within 90 days of the Employee’s
death payment for such RSUs shall be made to the Employee’s estate or
designated beneficiary.

 

9.              Accelerations
or Delayed Delivery.

Notwithstanding anything in this
Stock Notification and Award Agreement to the contrary, the Company, in its
sole discretion may accelerate or delay the delivery of any RSUs subject to Section 409A
of the Internal Revenue Code of 1986, as amended and the regulations and
guidance issued thereunder (“Section 409A”) under the circumstances, and
to the extent, permitted by Section 409A. 
Further, in the event the Company elects to accelerate delivery of any
RSUs subject to Section 409A or pay cash in exchange for the cancellation
of any RSUs subject to Section 409A as the result of a Change in Control
pursuant to the Plan such acceleration or exchange shall only be effective to
the extent the event constitutes a change in control event for purposes of Section 409A.
In all other circumstances delivery will be made in accordance with the normal
vesting schedule.

 

10.       Taxes.

(a)         The Employee
shall be liable for any and all taxes, including income tax, social insurance, payroll tax, payment on account or other
tax-related items related to the Employee’s participation in the Plan and
legally applicable or otherwise recoverable from the Employee (such
as fringe benefit tax) by the Company and/or the Employee’s employer (the “Employer”)
(“Tax-Related Items”).  In the event that the Company or the Employer is required, allowed or permitted to
withhold taxes as a result of the grant or vesting of RSUs, or subsequent sale
of Shares acquired pursuant to such RSUs, or due upon receipt of dividend
equivalent payments, the Employee shall surrender a sufficient number of whole
Shares, make a cash payment or make adequate arrangements satisfactory to the
Company and/or the Employer to withhold such taxes from Employee’s wages or
other cash compensation paid to the Employer by the Company and/or the Employer
at the election of the Company, in its sole discretion, or, if permissible under local law, the Company may sell or arrange for
the sale of Shares that Employee acquires as necessary to
cover all applicable required withholding taxes that are legally recoverable
from the Employee (such as fringe benefit tax) and required social security
contributions at the time the restrictions on the RSUs lapse (however, with respect to any Shares subject to Section 409A, the
Employer shall limit the surrender of Shares at vesting to the minimum number
of Shares permitted to avoid a prohibited acceleration under Section 409A), unless the
Company, in its sole discretion, has established alternative procedures for
such payment.  The Employee will receive
a cash refund for any fraction of a surrendered Share or Shares in excess of
any and all Tax-Related Items.  To the
extent that any surrender of Shares or payment of cash or alternative procedure
for such payment is insufficient, the Employee authorizes the Company, its
Affiliates and Subsidiaries, which are qualified to deduct tax at source, to
deduct from the Employee’s compensation all Tax-related Items.  The Employee 

 

3

 

agrees to pay any amounts that cannot be satisfied from
wages or other cash compensation, to the extent permitted by law.

 

To avoid negative accounting treatment, the Company and/or
the Employer may withhold or account for Tax-Related Items by considering
applicable minimum statutory withholding amounts or other applicable
withholding rates.  If the obligation for
Tax-Related Items is satisfied by withholding in Shares, for tax purposes, the
Employee is deemed to have been issued the full number of Shares subject to the
vested RSUs, notwithstanding that a number of the Shares are held back solely
for the purpose of paying the Tax-Related Items due as a result of any aspect
of the Employee’s participation in the Plan.

 

(b)         Regardless of any action the Company or the Employer takes with respect
to any or all Tax-Related Items, the Employee acknowledges and agrees that the
ultimate liability for all Tax-Related Items is and remains the Employee’s
responsibility and may exceed the amount actually withheld by the Company or
the Employer.  The Employee further
acknowledges that the Company and/or the Employer: (i) make no
representations nor undertakings regarding the treatment of any Tax-Related
Items in connection with any aspect of this grant of RSUs, including, but not
limited to, the grant, vesting or settlement of RSUs, the subsequent issuance
of Shares and/or cash upon settlement of such RSUs or the subsequent sale of
any Shares acquired pursuant to such RSUs and receipt of any dividends or
dividend equivalent payments; and (ii)  do not commit to and are under no
obligation to structure the terms or any aspect of this grant of RSUs to reduce
or eliminate the Employee’s liability for Tax-Related Items or to achieve any particular
tax result.  Further, if the Employee has
become subject to tax in more than one jurisdiction between the date of grant
and the date of any relevant taxable or tax withholding event, as applicable,
the Employee acknowledges that the Company and/or the Employer (or former
employer, as applicable) may be required to withhold or account for Tax-Related
Items in more than one jurisdiction.  The
Employee shall pay the Company or the Employer any amount of Tax-Related Items
that the Company or the Employer may be required to withhold or account for as
a result of the Employee’s participation in the Plan or the Employee’s receipt
of RSUs that cannot be satisfied by the means previously described.  The Company may refuse to deliver the benefit
described in Section 3 if the Employee fails to comply with the Employee’s
obligations in connection with the Tax-Related Items.

 

(c)          In accepting
the RSUs, the Employee consents and agrees that in the event the RSUs become
subject to an employer tax that is legally permitted to be recovered from the
Employee, as may be determined by the Company and/or the Employer at their sole
discretion, and whether or not the Employee’s employment with the Company
and/or the Employer is continuing at the time such tax becomes recoverable, the
Employee will assume any liability for any such taxes that may be payable by
the Company and/or the Employer in connection with the RSUs.  Further, by accepting the RSUs, the Employee
agrees that the Company and/or the Employer may collect any such taxes from the
Employee by any of the means set forth in this Section 10.  The Employee further agrees to execute any
other consents or elections required to accomplish the above, promptly upon
request of the Company.

 

11.       Data Privacy
Consent.

The Employee understands that the Company, its
Affiliates, its Subsidiaries and the Employer hold certain personal information
about the Employee, including, but not limited to, name, home address and
telephone number, date of birth, social insurance number or other
identification number, salary, nationality, job title, any shares of stock or
directorships held in the Company, details of all RSUs, options or any other
entitlement to shares of stock awarded, canceled, purchased, exercised, vested,
unvested or outstanding in the Employee’s favor for the exclusive purpose of
implementing, managing and administering the Plan (“Data”). The Employee
understands that the Data may be transferred to any third parties assisting in
the implementation, administration and management of the Plan, that these
recipients may be located in the Employee’s country or elsewhere and that the
recipient country may have different data privacy laws and protections than the
Employee’s country. HP is committed to protecting the privacy of the Employee’s
personal data in such cases. By contract with both the HP affiliate and with HP
vendors, the people and companies that have access to the Employee’s personal
data are bound to handle such data in a manner consistent with the HP Privacy
Policy and law. HP also performs due diligence and audits on its vendors in
accordance with good commercial practices to ensure their capabilities and
compliance with those commitments.

 

The Employee may request a list
with the names and addresses of any potential recipients of the data by
contacting the local human resources representative. The Employee understands
that data will be held only as long as is necessary to implement, administer
and manage participation in the Plan.

 

4

 

12.       Plan Information.

The Employee agrees to receive copies of the Plan, the Plan
prospectus and other Plan information, including information prepared to comply
with laws outside the United States, from the Stock Incentive Program website
referenced above and stockholder information, including copies of any annual
report, proxy and Form 10-K, from the investor relations section of the HP
website at www.hp.com.  The
Employee acknowledges that copies of the Plan, Plan prospectus, Plan information
and stockholder information are available upon written or telephonic request to
the Company Secretary.

 

13.       Acknowledgment and
Waiver.

By accepting this grant of RSUs,
the Employee acknowledges and agrees that: (i) the Plan is established
voluntarily by the Company, it is discretionary in nature and may be modified,
amended, suspended or terminated by the Company at any time; (ii) the
grant of RSUs is voluntary and occasional and does not create any contractual
or other right to receive future grants of Shares or RSUs, or benefits in lieu
of Shares or RSUs, even if Shares or RSUs have been granted repeatedly in the
past; (iii) all decisions with respect to future grants, if any, will be
at the sole discretion of the Company; (iv) the Employee’s participation
in the Plan shall not create a right to further employment with the Employer
and shall not interfere with the ability of the Employer to terminate the
Employee’s employment relationship at any time and it is expressly agreed and
understood that employment is terminable at the will of either party, insofar
as permitted by law;  (v)  the
Employee is participating voluntarily in the Plan; (vi)  RSUs and their
resulting benefits are extraordinary items that do not constitute compensation
of any kind for services of any kind rendered to the Company or the Employer,
and which are outside the scope of the Employee’s employment contract, if any; (vii) RSUs
and their resulting benefits are not intended to replace any pension rights or
compensation; (viii) RSUs and their resulting benefits are not part of
normal or expected compensation or salary for any purposes, including, but not
limited to calculating any severance, resignation, termination, redundancy,
dismissal, end of service payments, bonuses, long-service awards, pension or
retirement or welfare benefits or similar payments insofar as permitted by law
and in no event should be considered as compensation for, or relating in any
way to, past services for the Company, the Employer or any Subsidiary or Affiliate;
(ix) this grant of RSUs will not be interpreted to form an employment
contract or relationship with the Company, and furthermore, this grant of RSUs
will not be interpreted to form an employment contract with the Employer or any
Subsidiary or Affiliate;  (x) the
future value of the underlying Shares is unknown and cannot be predicted with
certainty; (xi) no claim or entitlement to compensation or damages shall
arise from forfeiture of the RSUs resulting from termination of Employee’s
employment by the Company or the Employer (for any reason whatsoever and
whether or not in breach of local labor laws), and in consideration of the
grant of the RSUs to which the Employee is otherwise not entitled, the Employee
irrevocably agrees never to institute any claim against the Company or the
Employer, waives his or her ability, if any, to bring any such claim, and
releases the Company and the Employer from any such claim; if, notwithstanding
the foregoing, any such claim is allowed by a court of competent jurisdiction,
then, by participating in the Plan, the Employee shall be deemed irrevocably to
have agreed not to pursue such claim and to have agreed to execute any and all
documents necessary to request dismissal or withdrawal of such claims; (xii) notwithstanding
any terms or conditions of the Plan to the contrary, in the event of
termination of the Employee’s employment (whether or not in breach of local
labor laws), the Employee’s right to receive benefits under this Stock
Notification and Award Agreement after termination of employment, if any, will
be measured by the date of termination of Employee’s active employment and will
not be extended by any notice period mandated under local law (e.g., active
employment would not include a period of “garden leave” or similar period
pursuant to local law); (xiii) the Committee shall have the exclusive
discretion to determine when the Employee is no longer actively employed for
purposes of the RSUs.

 

14.       No Advice Regarding
Grant.

The Company is not providing any tax, legal or financial
advice, nor is the Company making any recommendations regarding the Employee’s
participation in the Plan, or the Employee’s acquisition or sale of the
underlying Shares.  The Employee is
hereby advised to consult with his or her own personal tax, legal and financial
advisors regarding his or her participation in the Plan before taking any
action related to the Plan.

 

15.       Miscellaneous.

(a)         The Company
shall not be required to treat as owner of RSUs, and any associated benefits
hereunder, any transferee to whom such RSUs or benefits shall have been
transferred in violation of any of the provisions of this Stock Notification
and Award Agreement.

 

(b)         The parties
agree to execute such further instruments and to take such action as may
reasonably be necessary to carry out the intent of this Stock Notification and
Award Agreement.

 

(c)          Any notice
required or permitted hereunder shall be given in writing and shall be deemed
effectively given upon delivery to the Employee at his address then on file
with the Company.

 

5

 

(d)         The Plan is
incorporated herein by reference. The Plan and this Stock Notification and
Award Agreement constitute the entire agreement of the parties with respect to
the subject matter hereof and supersede in their entirety all prior
undertakings and agreements of the Company and the Employee with respect to the
subject matter hereof, and may not be modified adversely to the Employee’s
interest except by means of a writing signed by the Company and the
Employee.  Notwithstanding the foregoing, nothing in the Plan or this Stock
Notification and Award Agreement shall affect the validity or interpretation of
any duly authorized written agreement between the Company and the Employee under
which an Award properly granted under and pursuant to the Plan serves as any
part of the consideration furnished to the Employee.  This Stock Notification and Award Agreement
is governed by the laws of the state of Delaware.

 

(e)         If the Employee has received this or any other document related to the
Plan translated into a language other than English and if the meaning of the
translated version is different than the English version, the English version
will control.

 

(f)           The provisions of this Stock Notification and Award Agreement are
severable and if any one or more provisions are determined to be illegal or
otherwise unenforceable, in whole or in part, the remaining provisions shall
nevertheless be binding and enforceable.

 

(g)       Payments made pursuant to the Plan and this Stock Notification and Award
Agreement are intended to comply with Section 409A.  The Company reserves the right, to the extent
the Company deems necessary or advisable in its sole discretion, to
unilaterally amend or modify the Plan and/or this Stock Notification and Award
Agreement to ensure that all RSU Awards made to United States taxpayers are
made in a manner that complies with Section 409A (including, without
limitation, the avoidance of penalties thereunder), provided however, that the
Company makes no representations that the RSUs will be exempt from any
penalties that may apply under Section 409A and makes no undertaking to
preclude Section 409A from applying to this RSU award.

 

(h)         Electronic
Delivery.

The Company may, in its sole discretion, decide to deliver
any documents related to current or future participation in the Plan by
electronic means.  The Employee hereby
consents to receive such documents by electronic delivery and agrees to participate
in the Plan through an on-line or electronic system established and maintained
by the Company or another third party designated by the Company.

 

(i)             Any capitalized terms not defined herein shall have the same meaning
they have in the Plan.

 

(j)             Appendix.

Notwithstanding any provisions in this Stock Notification and Award Agreement,
the grant of the RSUs shall be subject to any special terms and conditions set
forth in the Appendix to this Stock Notification and Award Agreement for the
Employee’s country.  Moreover, if the
Employee relocates to one of the countries included in the Appendix, the
special terms and conditions for such country will apply to the Employee, to
the extent the Company determines that the application of such terms and
conditions is necessary or advisable in order to comply with local law or
facilitate the administration of the Plan. 
The Appendix constitutes part of this Stock Notification and Award
Agreement.

 

(k)          Imposition of
Other Requirements.

The Company reserves the right to impose other requirements
on the Employee’s participation in the Plan, on the RSUs and on any Shares
acquired under the Plan, to the extent the Company determines it is necessary
or advisable in order to comply with local law or facilitate the administration
of the Plan, and to require the Employee to sign any additional agreements or
undertakings that may be necessary to accomplish the foregoing.

 

6

 

HEWLETT-PACKARD COMPANY

 

 

 

Léo Apotheker

CEO and
President

 

 

 

Michael J. Holston

Executive Vice President, General Counsel and Secretary

 

 

 

RETAIN
THIS STOCK NOTIFICATION AND AWARD AGREEMENT FOR YOUR RECORDS

 

Important Note:  Your award is subject to the terms and conditions of this Stock
Notification and Award Agreement and to HP obtaining all necessary government
approvals.  If you have questions
regarding your award, please discuss them with your manager.

 

7

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