Document:

formofperfunitagreement.htm

    EXHIBIT
10.1

     

    THREE-YEAR
PERFORMANCE STOCK UNIT AWARD AGREEMENT

     

     

    Name of
Grantee:                                                                                                                     

    Grant
Date:                                                                                                                     

    Number of
Shares of Performance Stock Units:                                                                                                                     

     

    This
Agreement evidences the grant by Compass Minerals International, Inc., a
Delaware corporation (the “Company”) of performance stock units to the
above-referenced “Grantee” as of the “Grant Date” hereof pursuant to the Compass
Minerals International, Inc. 2005 Incentive Award Plan, as amended from time to
time (the “Plan”). By accepting the Award, Grantee agrees to be bound in
accordance with the provisions of the Plan, the terms and conditions of which
are hereby incorporated in this Agreement by reference. Capitalized terms not
defined herein shall have the same meaning as used in the Plan, as amended from
time to time, unless otherwise superseded by any other agreement between the
Company and Grantee.

     

    1. Performance Stock Units
Awarded.  Grantee is hereby awarded the number of common stock
units (the “Performance Stock Units”) first set forth above, subject to the
other terms and conditions of this Agreement and the Plan.  Each unit
represents the right to receive one share of the Company’s Stock.  The
Performance Stock Units shall be divided into three approximately equal tranches
(rounded to the near whole unit) and shall be subject to the Performance
Criteria set forth in Exhibit A attached hereto.

     

    2. Vesting
Period.  The Performance Stock Units shall be subject to a
three-year  vesting period beginning on the Grant Date and ending on
the third anniversary of such Grant Date (the "Vesting Period").

     

    3. Payment.  Except
as provided in paragraph 5, within 30 days following the conclusion of the
Vesting Period, Grantee shall receive a number of shares of Stock equal to the
number of Performance Stock Units with respect to which the Performance Criteria
have been satisfied.  Any non-vested Performance Stock Units will be
forfeited by Grantee and no benefits will be payable under this Agreement with
respect to such non-vested Performance Stock Units.

     

    4. Termination Prior to the End
of the Vesting Period.

     

    (a)           Except
as provided below, if Grantee terminates employment with the Company and its
Subsidiaries prior to the last day of the Vesting Period, then the Performance
Stock Units subject to this Agreement shall be forfeited as of such termination
of employment and no benefits will be payable under this
Agreement.  Notwithstanding the foregoing, if Grantee terminates
employment with the Company and its Subsidiaries prior to the last day of the
Vesting Period due to death or Disability, then the Performance Stock Units
subject to this Agreement shall not be forfeited due to Grantee's termination of
employment prior to the last day of the Vesting Period.

     

    (b)           The
term “Disability” means Grantee is unable to engage in any substantial gainful
activity by reason of a medically determinable physical or mental impairment
which can be expected to last for a continuous period of not less than twelve
(12) months; or is, by reason of a medically determinable physical or mental
impairment which can be expected to last for a continuous period of not less
than twelve (12) months, receiving replacement benefits for a period of not less
than three (3) months under an accident and health plan covering employees of
the Company.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    5. Payment Following Change of
Control.  Notwithstanding any provision in this Agreement to
the contrary, in the event of a Change of Control, Grantee shall receive within
30 days following such Change of Control a number of shares of Stock equal to
(i) the aggregate number of Performance Stock Units subject to this Agreement
(increased, if applicable, for performance in excess of 100% of target for any
Performance Period ending on or before the Change of Control) minus (ii) the
number of Performance Stock Units, if any, forfeited prior to such Change of
Control.

     

    6. No Voting and Dividend
Rights.  Grantee shall have no voting or dividend rights with
respect to the Performance Stock Units awarded hereunder.

     

    7. Permitted
Transfers.  The rights under this Agreement may not be
assigned, transferred or otherwise disposed of except by will or the laws of
descent and distribution and may be exercised during the lifetime of Grantee
only by Grantee.  Upon any attempt to assign, transfer or otherwise
dispose of this Agreement, or any right or privilege conferred hereby, or upon
any attempted sale under any execution, attachment or similar process, this
Agreement and the rights and privileges conferred hereby immediately will become
null and void.

     

    8. Unfunded
Obligation.  This Agreement is designed and shall be
administered at all times as an unfunded arrangement and Grantee shall be
treated as an unsecured general creditor and shall have no beneficial ownership
of any assets of the Company.

     

    9. Taxes.  Grantee
will be solely responsible for any federal, state or other taxes imposed in
connection with the granting of the Performance Stock Units or the delivery of
shares of Stock pursuant thereto, and Grantee authorizes the Company or any
Subsidiary to make any withholding for taxes which the Company or any Subsidiary
deems necessary or proper in connection therewith.  Upon recognition
of income by Grantee with respect to the Award hereunder, the Company shall
withhold taxes pursuant to the terms of the Plan.

     

    10. Changes in
Circumstances.  It is expressly understood and agreed that
Grantee assumes all risks incident to any change hereafter in the applicable
laws or regulations or incident to any change in the value of the Performance
Stock Units or the shares of Stock issued pursuant thereto after the date
hereof.

     

    11. Conflict Between Plan and
This Agreement.  In the event of a conflict between this
Agreement and the Plan, the provisions of the Plan shall govern.

     

    12. Notices.  All
notices, claims, certificates, requests, demands and other communications
hereunder shall be in writing and shall be deemed to have been duly given and
delivered if personally delivered or if sent by nationally-recognized overnight
courier, by telecopy, or by registered or certified mail, return receipt
requested and postage prepaid, addressed as follows:

     

    If to the
Company, to it at:

     

    Compass
Minerals International, Inc.

    9900 West
109th Street

    Overland
Park KS 66210

    Attn:
Vice President Human Resources

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    If to
Grantee, to him or her at the address set forth on the signature page hereto or
to such other address as the party to whom notice is to be given may have
furnished to the other party in writing in accordance herewith.  Any
such notice or communications shall be deemed to have been received (a) in the
case of personal delivery, on the date of such delivery (or if such date is not
a business day, on the next business day after the date of delivery), (b) in the
case of nationally-recognized overnight courier, on the next business day after
the date sent, (c) the case of telecopy transmission, when received (or if not
sent on a business day, on the next business day after the date sent), and (d)
in the case of mailing, on the third business day following that on which the
piece of mail containing such communication is posted.

     

    13. No Guarantee of
Employment.  Nothing in this Agreement shall confer upon
Grantee any right to continue in the employ of the Company or any Subsidiary or
interfere in any way with the right of the Company or Subsidiary, as the case
may be, to sever Grantee’s employment or to increase or decrease Grantee’s
compensation at any time.

     

    14. Governing
Law.  This Agreement shall be governed under the laws of the
State of Delaware without regard to the principles of conflicts of
laws.  Each party hereto submits to the exclusive jurisdiction of the
United States District Court for the District of Kansas (Kansas City,
Kansas).  Each party hereto irrevocably waives, to the fullest extent
permitted by law, any objections that either party may now or hereafter have to
the aforesaid venue, including without limitation any claim that any such
proceeding brought in either such court has been brought in an inconvenient
forum, provided however, this provision shall not limit the ability of either
party to enforce the other provisions of this paragraph.

     

    15. Severability. It is
the desire and intent of the parties hereto that the provisions of this
Agreement be enforced to the fullest extent permissible under the laws and
public policies applied in each jurisdiction in which enforcement is
sought.  Accordingly, if any particular provision of this Agreement
shall be adjudicated by a court of competent jurisdiction to be invalid,
prohibited or unenforceable for any reason, such provision, as to such
jurisdiction, shall be ineffective, without invalidating the remaining
provisions of this Agreement or affecting the validity or enforceability of such
provision in any other jurisdiction.  Notwithstanding the foregoing,
if such provision could be more narrowly drawn so as not to be invalid,
prohibited or unenforceable in such jurisdiction, it shall, as to such
jurisdiction, be so narrowly drawn, without invalidating the remaining
provisions of this Agreement or affecting the validity or enforceability of such
provision in any other jurisdiction.

     

    16. Enforcement.  In
the event the Company or Grantee institutes litigation to enforce or protect its
rights under this Agreement or the Plan, the party prevailing in any such
litigation shall be paid by the non-prevailing party, in addition to all other
relief, all reasonable attorneys’ fees, out-of-pocket costs and disbursements of
such party relating to such litigation.

     

    17. Waiver of Jury
Trial.  Each party hereto hereby irrevocably and
unconditionally waives, to the fullest extent it may legally and effectively do
so, trial by jury in any suit, action or proceeding arising
hereunder.

     

    18. Committee
Authority.  The Committee will have the power and discretion to
interpret this Agreement and to adopt such rules for the administration,
interpretation and application of this Agreement as are consistent with the Plan
and this Agreement and to interpret or revoke any such rules, including, but not
limited to, the determination of whether or not the 

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Performance
Criteria with respect tot the Performance Stock Units have been
satisfied.  All actions taken and all interpretations and
determinations made by the Committee in good faith will be final and binding
upon Grantee, the Company and all other interested persons.  No member
of the Committee will be personally liable for any action, determination or
interpretation made in good faith with respect to this Agreement.

     

    19. Counterparts.  This
Agreement may be executed in one or more counterparts, and each such counterpart
shall be deemed to be an original, but all such counterparts together shall
constitute but one agreement.

     

    20. Restrictive
Covenant.  Notwithstanding any provision in this Agreement to
the contrary, the award hereunder is expressly conditioned upon Grantee’s
execution of a Restricted Covenant Agreement in the form designated by the
Company.  If Grantee fails or refuses to execute such Restricted
Covenant Agreement, this Agreement shall be null and void ab
initio.

     

    21. Compliance with Section
409A.  To the extent applicable and notwithstanding any
provision in this Agreement to the contrary, this Agreement shall be interpreted
and administered in accordance with  Section 409A of the Internal
Revenue Code and regulations and other guidance issued
thereunder.  For purposes of determining whether any payment made
pursuant to the Plan results in a "deferral of compensation" within the meaning
of Treasury Regulation §1.409A-1(b), the Company shall maximize the exemptions
described in such section, as applicable.  Any reference to a
“termination of employment” or similar term or phrase shall be interpreted as a
“separation from service” within the meaning of Section 409A and the regulations
issued thereunder.  If any deferred compensation payment is payable
upon separation from service and is required to be delayed pursuant to Section
409A(a)(2)(B) because Grantee is a “specified employee”, then payment of such
amount shall be delayed for a period of six months and paid in a lump sum on the
first payroll payment date following expiration of such six month
period.

     

    IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Grant
Date.

     

    COMPASS
MINERALS INTERNATIONAL, INC.

     

    By:                                                                           

    Name:                                                                           

    Title:                                                                           

     

    GRANTEE

     

    ___________________________________

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
A

    PERFORMANCE
CRITERIA FOR PERFORMANCE STOCK UNIT AWARD

    

    All or a
portion of the Performance Stock Units attributable to each tranche will be
forfeited at the end of the applicable Performance Period unless the following
Performance Criteria are satisfied:

     

     

    

      
        	
                 

                Tranche

              	
                Number
      of Performance Stock Units

              	
                 

                Performance
      Period

              	
                 

                Performance
      Criteria

              
	
                1

              	
                [_______]

                 

                 

              	
                FY
      2010

              	
                The
      Performance Stock Units earned for each Performance Period are based on
      CMP's Total Shareholder Return (TSR) compared to the TSR of the companies
      comprising the Russell 2000 Index.

                 

              
	
                2

              	
                [_______]

                 

              	
                FY
      2011

              	
                Benchmark

                Ranking

              	
                Percentage of Performance Stock Units
      Earned

              
	
                3

              	
                [_______]

              	
                FY
      2012

                 

              	
                <
      30th Percentile

                30th
      Percentile (Threshold)

                50th
      Percentile (Target)

                70th
      Percentile (Maximum)

                 

              	
                0%

                50%

                100%

                150%

                 

              
	 
      	 
      	 
      	
                Benchmark
      and earned percentages will be interpolated on a straight line
      basisEX-10.1

PEBBLEBROOK HOTEL TRUST

Share Award Agreement

THIS SHARE AWARD AGREEMENT (the “Agreement”), dated as of the 11th day of
_March     , 2010, governs the Share Award granted by PEBBLEBROOK HOTEL TRUST, a Maryland real
estate investment trust (the “Company”), to       Jon E. Bortz       (the “Participant”),
in accordance with and subject to the provisions of the Company’s 2009 Equity Incentive Plan (the
“Plan”). A copy of the Plan has been made available to the Participant. All terms used in this
Agreement that are defined in the Plan have the same meaning given them in the Plan.

1. Grant of Share Award. In accordance with the Plan, and effective as of
_March       11, 2010 (the “Date of Grant”), the Company granted to the Participant,
subject to the terms and conditions of the Plan and this Agreement, a Share Award of
_28,776       Common Shares (the “Share Award”).

2. Vesting. The Participant’s interest in the Common Shares covered by the Share
Award shall become vested and nonforfeitable to the extent provided in paragraphs (a), (b), (c) and
(d) below.

(a) Continued Employment. The Participant’s interest in one-third of the Common Shares
covered by the Share Award shall become vested and nonforfeitable on the first anniversary of the
Date of Grant if the Participant remains in the continuous employ of the Company or an Affiliate
from the Date of Grant until the first anniversary of the Date of Grant. The Participant’s
interest in an additional one-third of the Common Shares covered by the Share Award shall become
vested and nonforfeitable on the second anniversary of the Date of Grant if the Participant remains
in the continuous employ of the Company or an Affiliate from the Date of Grant until the second
anniversary of the Date of Grant. The Participant’s interest in the remaining one-third of the
Common Shares covered by the Share Award shall become vested and nonforfeitable on the third
anniversary of the Date of Grant if the Participant remains in the continuous employ of the Company
or an Affiliate from the Date of Grant until the third anniversary of the Date of Grant.

(b) Change in Control. The Participant’s interest in all of the Common Shares covered by the
Share Award (if not sooner vested), shall become vested and nonforfeitable on a Control Change Date
if the Participant remains in the continuous employ of the Company or an Affiliate from the Date of
Grant until the Control Change Date.

(c) Death or Disability. The Participant’s interest in all of the Common Shares covered by
the Share Award (if not sooner vested), shall become vested and nonforfeitable on the date that the
Participant’s employment by the Company and its Affiliates ends if (i) such employment ends on
account of the Participant’s death or permanent and total disability (as defined in Code section
22(e)(3)) and (ii) the Participant remains in the continuous employ of the Company or an Affiliate
from the Date of Grant until the date such employment ends.

(d) Termination of Employment Without Cause. The Participant’s interest in all of the Common
Shares covered by the Share Award (if not sooner vested), shall become vested and nonforfeitable on
the date that the Participant’s employment by the Company and its Affiliates ends if (i) such
employment is terminated by the Company or an Affiliate without Cause and (ii) the Participant
remains in the continuous employ of the Company or an Affiliate from the Date of Grant until the
date such employment ends. For purposes of this Agreement, the term “Cause” means that the Board
concludes, in good faith and after reasonable investigation, that (i) the Participant has been
charged by the United States or a State or political subdivision thereof with conduct which is a
felony under the laws of the United States or any State or political subdivision thereof; (ii) the
Participant engaged in conduct relating to the Company constituting material breach of fiduciary
duty, willful misconduct (including acts of employment discrimination or sexual harassment) or
fraud; (iii) the Participant breached his obligations or covenants restricting the recruitment of
Company or Affiliate employees to work for another employer set forth in an agreement with the
Company in any material respect; or (iv) the Participant materially failed to follow a proper
directive of the Board within the scope of the Participant’s duties (which shall be capable of
being performed by the Participant with reasonable effort) after written notice from the Board
specifying the performance required and the Participant’s failure to perform within thirty days
after such notice. For this purpose, no act, or failure to act, on the Participant’s part shall be
deemed “willful” unless done, or omitted to be done, by the Participant not in good faith or if the
result thereof would be unethical or illegal.

Except as provided in this Section 2, any Common Shares covered by the Share Award that are not
vested and nonforfeitable on or before the date that the Participant’s employment by the Company
and its Affiliates ends shall be forfeited on the date that such employment terminates.

3. Transferability. Common Shares covered by the Share Award that have not become
vested and nonforfeitable as provided in Section 2 cannot be transferred. Common Shares covered by
the Share Award may be transferred, subject to the requirements of applicable securities laws,
after they become vested and nonforfeitable as provided in Section 2.

4. Shareholder Rights. On and after the Date of Grant and prior to their forfeiture,
the Participant shall have all of the rights of a shareholder of the Company with respect to the
Common Shares covered by the Share Award, including the right to vote the shares and to receive,
free of all restrictions, all dividends declared and paid on the shares. Notwithstanding the
preceding sentence, the Company shall retain custody of the certificates evidencing the Common
Shares covered by the Share Award until the date that the Common Shares become vested and
nonforfeitable and the Participant hereby appoints the Company’s Secretary as the Participant’s
attorney in fact, with full power of substitution, with the power to transfer to the Company and
cancel any Common Shares covered by the Share Award that are forfeited under Section 2.

5. No Right to Continued Employment. The grant of the Share Award does not give the
Participant any rights with respect to continued employment by the Company or an Affiliate.

6. Governing Law. This Agreement shall be governed by the laws of the State of
Maryland except to the extent that Maryland law would require the application of the laws of
another State.

7. 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.

8. 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 the
terms and provisions of the Plan.

9. Binding Effect. Subject to the limitations stated above and in the Plan, this
Agreement shall be binding upon the Participant and his or her successors in interest and the
Company and any successors of the Company.

[signature page follows]

1

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

	 	 	 	 	 
	PEBBLEBROOK HOTEL TRUST	 	JON E. BORTZ
	By:      /s/ Raymond D. Martz—	 	_/s/ Jon E. Bortz—
	 	 	 
	 	 	Raymond D. Martz

	 	Jon E. Bortz
	Title:
	 	Chief Financial Officer,

	 	

Treasurer and Secretary

2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}]]