Document:

exv10w1

Exhibit 10.1

June 15, 2009

Mr. John A. Clerico

3132 S. Columbia Circle

Tulsa, OK 74105

			
	     Re:	 	Change-In-Control Agreement

Dear Mr. Clerico:

     Global Industries, Ltd. (the “Company”) considers it essential to the best interest of the
Company and its shareholders that its management and key employees be encouraged to remain with the
Company and to continue to devote full attention to the Company’s business in the event of a change
in control of the Company, whether through a tender offer, a negotiated merger or sale of the
Company’s business or otherwise. In this connection, the Company recognizes that the possibility
of a change in control and the uncertainty and questions which it may raise among management may
result in the departure or distraction of management personnel and key employees to the detriment
of the Company and its shareholders. Accordingly, the Company’s Board of Directors (the “Board”)
has determined that appropriate steps should be taken to reinforce and encourage the continued
attention and dedication of members of the Company’s management, including yourself, to their
assigned duties without distraction in the face of the potentially disturbing circumstances arising
from the possibility of a change in control of the Company under the circumstances described below.

     In order to induce you to remain in the employ of the Company, this letter agreement
(“Agreement”) sets forth the severance benefits which the Company agrees will be provided to you in
the event your employment with the Company is terminated subsequent to a Change in Control of the
Company under the circumstances described below.

     Nothing herein shall be construed to prevent either you or the Company from terminating your
employment at any time, for cause or otherwise, subject only to the specific payment and other
provisions hereinafter provided for under certain circumstances in the event a Change in Control of
the Company shall have occurred prior to the date your termination becomes effective.

     1. CONTINUED EMPLOYMENT.

     This confirms that you have advised the Company that, in consideration of, among other things,
the Company’s entering into this Agreement with you, it is your present intention to remain in the
employ of the Company. This Agreement shall commence on the date hereof and shall continue until
December 31, 2009; provided, however, that commencing on January 1, 2010 and each January 1st
thereafter, the term of this Agreement shall automatically be extended

 

 

Mr. John A. Clerico

June 15, 2009

Page 2

for one additional year unless at least 30 days prior to such January 1st date, the Company
shall have given notice that it does not wish to extend this Agreement. Notwithstanding anything
to the contrary contained in this paragraph 1, (a) it is agreed that if a Change in Control occurs
while this Agreement is in effect, then the term of this Agreement shall be automatically extended
and shall remain in effect for two years after such Change in Control, and if within such two-year
period any termination occurs that would entitle you to the benefits hereunder, this Agreement
shall remain in effect in accordance with its terms, and (b) the Company may terminate this
Agreement at any time upon your Total Disability (as defined in paragraph 2). In the event that
your employment with the Company terminates for any reason prior to the occurrence of a Change in
Control, this Agreement shall automatically terminate as of the date of your termination, and no
benefits shall be payable to you hereunder.

     2. DEFINITIONS.

     For purposes of this Agreement, the following terms have the meanings set forth below:

     “Bonus Incentive Plan” shall mean the Company’s Management Incentive Plan or, if that
plan is no longer maintained, any cash bonus plan maintained by the Company for similarly situated
active executives of the Company.

     “Cause” shall mean only (a) if termination shall have been the result of an act or
acts of dishonesty on your part constituting a felony and resulting, or intending to result,
directly or indirectly, in gain or personal enrichment at the expense of the Company or (b) upon
the willful and continued failure by you to substantially perform your duties with the Company
(other than any such failure resulting from your incapacity due to mental or physical illness)
after a demand in writing for substantial performance is delivered to you by the Board, which
demand specifically identifies the manner in which the Board believes that you have not
substantially performed your duties, and such failure to perform your duties results in
demonstrably material injury to the Company. Your employment shall in no event be considered to
have been terminated by the Company for Cause if such termination took place as the result of
(i) bad judgment or negligence on your part, or (ii) any act or omission without intent of gaining
therefrom, directly or indirectly, a profit to which you were not legally entitled, or (iii) any
act or omission believed by you in good faith to have been in or not opposed to the interest of the
Company, or (iv) any act or omission in respect of which a determination is made that you met the
applicable standard of conduct prescribed for indemnification or reimbursement or payment of
expenses under the by-laws of the Company or the laws of the State of Louisiana or the directors
and officers liability insurance of the Company, in each case as in effect at the time of such act
or omission. You shall not be deemed to have been terminated for Cause unless and until there
shall have been delivered to you a copy of a resolution duly adopted by the affirmative vote of not
less than three-quarters of the entire membership of the Board at a meeting called and held for the
purpose (after reasonable notice to you and an opportunity for you, together with your counsel, to
be heard before the Board), finding that in the good faith opinion of the Board you were guilty of
conduct set forth above in clauses (a) or (b) of the first sentence of this definition and
specifying the particulars thereof in detail.

 

 

Mr. John A. Clerico

June 15, 2009

Page 3

     “Change in Control” shall mean (i) any merger, consolidation or other reorganization
in which the Company shall not be the surviving entity (or survives only as a subsidiary of an
entity other than a previously wholly-owned subsidiary of the Company), (ii) the dissolution or
liquidation of the Company; (iii) the sale, lease or exchange or agreement to sell, lease or
exchange all or substantially all of the assets of the Company to any other person or entity (other
than a wholly-owned subsidiary of the Company); (iv) the acquisition, directly or indirectly, of
the beneficial ownership of more than 50% of the issued and outstanding shares of the common stock
of the Company by any individual or entity, including a “group” as contemplated by Section 13(d)(3)
of the Securities Exchange Act of 1934, as amended, except an underwriter or similar entity in
connection with a public offering of common stock, alone or in concert with others; or (v) as a
result of or in connection with a contested election of directors, the persons who were directors
of the Company before such election shall cease to constitute a majority of the Board.

     “Code” shall mean the Internal Revenue Code of 1996, as amended.

     “Committee” shall mean the Compensation Committee of the Board of Directors of Global
Industries, Ltd.

     “Company” shall mean Global Industries, Ltd., and, except where the context indicates
otherwise, after the occurrence of a Change in Control, “Company” shall mean any successor (whether
direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of
the business and/or assets of Global Industries, Ltd.

     “Date of Termination” shall mean the date on which you have a “separation from
service” as defined in Section 409A of the Code.

     “Good Reason” shall mean:

(a) without your express written consent, the assignment to you of any duties inconsistent
with your positions, duties, responsibilities and status with the Company immediately prior
to a Change in Control, or a change in your reporting responsibilities, titles or offices as
in effect immediately prior to a Change in Control, or any removal of you from or any
failure to re-elect you to any of such positions, except in connection with the termination
of your employment for Cause, Total Disability or as a result of your death or by you other
than for Good Reason;

(b) a reduction by the Company in your base salary or total compensation for the fiscal year
in which the Change in Control occurred from your base salary or total compensation in the
fiscal year immediately preceding the year in which the Change in Control occurred (assuming
for purposes of determining whether a reduction of total compensation has occurred that
total compensation in the year preceding the fiscal year in which the Change in Control
occurred consisted of your base salary for that year plus payment under the Bonus Incentive
Plan in an amount equal to the highest payment under the Bonus Incentive Plan you received
in any of the three years immediately preceding

 

 

Mr. John A. Clerico

June 15, 2009

Page 4

the year in which the Change in Control occurred) or the failure by the Company to increase
your total salary and payment under the Bonus Incentive Plan (based on actual salary and
payment under the Bonus Incentive Plan) each year after a Change in Control by an amount
which at least equals, on a percentage basis, the mean average percentage increase in total
compensation for all officers of the Company during the three full fiscal years immediately
preceding a Change in Control of the Company;

(c) a failure by the Company to continue the Bonus Incentive Plan substantially on the basis
in effect prior to the Change in Control, or a failure by the Company to continue you as a
participant on at least the same basis as your participation for the fiscal year immediately
preceding a Change in Control;

(d) a permanent relocation of your principal place of employment with the Company from the
city in which you were serving immediately prior to the date on which a Change in Control
occurs to a place which is more than 30 miles away from such location;

(e) the failure by the Company to continue in effect any benefit or compensation plan in
addition to the bonus or incentive compensation plan, including its retirement plans, life
insurance plan, health and accident plan or disability plan in which you are participating
at the time of a Change in Control of the Company (or plans providing you with substantially
similar benefits) and stock option and stock purchase plans providing you with substantially
similar benefits as the Company plans in existence immediately before the Change in Control,
or the taking of any action by the Company which would adversely affect your participation
in or materially reduce your benefits under any of such plans or deprive you of any material
fringe benefit enjoyed by you at the time of the Change in Control, or the failure by the
Company to provide you with the number of paid vacation days to which you are then entitled
on the basis of years of service with the Company in accordance with the Company’s normal
vacation policy in effect immediately prior to the Change in Control;

(f) the failure of the Company to obtain an assumption of this Agreement by any successor as
contemplated in paragraph 6 hereof; or

(g) any purported termination of your employment which is not effected pursuant to a Notice
of Termination satisfying the requirements set forth in the definition thereof (and, if
applicable, the requirements set forth in the definition of Cause).

     “Incentive Compensation” shall mean the greater of (i) the highest annual award earned
under the Bonus Incentive Plan during any one of the five fiscal years immediately preceding the
fiscal year which includes the Date of Termination, or (ii) the Target Award.

     “Notice of Termination” shall mean a written notice which shall indicate the specific
termination provision in this Agreement relied upon and shall set forth in reasonable detail the
facts and circumstances claimed to provide a basis for termination of your employment under the
provisions so indicated. With respect to termination by you for Good Reason, the Notice of

 

 

Mr. John A. Clerico

June 15, 2009

Page 5

Termination shall state that you have made a good faith determination that, due to a Change in
Control, you are not able effectively to discharge your duties. The Notice of Termination shall be
delivered no less than 30 days prior to the Date of Termination, or (i) such longer period required
by contract between you and the Company or (ii) such shorter period as agreed by you and the
Company by mutual consent. Any purported termination of your employment which is not effected
pursuant to a Notice of Termination shall be deemed ineffective.

     “Stock Incentive Plan” shall mean the Global Industries, Ltd. 1998 Equity Incentive
Plan, the Global Industries, Ltd. 2005 Stock Incentive Plan and/or any future plan under which the
Company awards long-term incentive compensation.

     “Target Award” shall mean the higher of the target award level under the Bonus
Incentive Plan (i) at the time of a Change in Control or (ii) on the Date of Termination; in each
case expressed as a dollar amount based on the base salary then in effect.

     “Total Disability” shall mean that, as a result of your incapacity due to physical or
mental illness, you are suffering from “total disability” as defined in any long-term disability
plan maintained by the Company, and shall be deemed to occur on the first date as of which you
would be entitled to commence receipt of benefits thereunder had you been a participant.

     3. TREATMENT OF EQUITY UPON A CHANGE IN CONTROL.

     (a) Options held by you granted under a Stock Incentive Plan shall fully vest upon the date of
a Change in Control. Unless the Committee has determined to make an equitable adjustment or
substitution of stock options pursuant to the terms of the applicable Stock Incentive Plan, all
options held by you granted under a Stock Incentive Plan shall be surrendered to the Company by you
and such options shall be canceled by the Company, in exchange for a cash payment by the Company
within ten days after the Change in Control in an amount equal to the number of shares of the
Company’s common stock subject to your option multiplied by the difference between (x) and (y)
where (x) equals the closing sale price of a share of common stock on any exchange on which such
shares are traded or quoted as of the date immediately prior to the Change in Control and (y)
equals the purchase price per share covered by the option.

     (b) In the event of a Change in Control, restricted stock held by you granted under a Stock
Incentive Plan shall immediately vest, and all forfeiture restrictions shall immediately expire, as
of the date of the Change in Control.

     (c) In the event of a Change in Control, performance units held by you granted under a Stock
Incentive Plan for which the performance period has not expired as of the date of a Change in
Control shall be deemed to be earned at the target performance level. Unless the Committee
determines otherwise, you shall have the right to receive the same form of equity or other
consideration as all other shareholders with respect to the common stock subject to the earned
performance units. The common stock or other property subject to the earned performance units
shall be delivered to you within ten days of the date of the Change in Control. Notwithstanding
the foregoing, if the performance units are non-qualified deferred compensation

 

 

Mr. John A. Clerico

June 15, 2009

Page 6

under Section 409A of the Code, the performance units shall vest only if the Change in Control
satisfies the requirements of Treasury Regulations Section 1.409A-3(i)(5).

     4. COMPENSATION UPON TERMINATION AFTER A CHANGE IN CONTROL.

     No benefits shall be payable under this Agreement unless a Change in Control shall have
occurred. If your employment by the Company is terminated within two years after a Change in
Control, then the Company will, as additional compensation for services rendered to the Company,
pay to you the following amounts (subject to any applicable payroll or other taxes required to be
withheld and employee benefit premiums):

	 	(a)	 	If the Company terminates your employment other than due to death, Total
Disability or for Cause or if you terminate your employment for Good Reason, then the
Company will pay to you in a lump sum on the Date of Termination (subject to paragraph
12 hereof and except as set forth in item (ii) below), the following amounts:

	 	(i)	 	an amount equal to your Incentive Compensation times a
fraction, the numerator of which is the number of days elapsed in the fiscal
year to and including the Date of Termination and the denominator of which is
365;
	 
	 	(ii)	 	in lieu of any further payments to you for periods subsequent
to the Date of Termination, a cash payment of $3,600,000 less any applicable
federal and state taxes; and
	 
	 	(iii)	 	the Company shall also pay all legal fees and expenses
incurred by you as a result of such termination (including all such fees and
expenses, if any, incurred in contesting or disputing any such termination or
in seeking to obtain or enforce any right or benefit provided by this
Agreement). Any reimbursement provided hereunder during one calendar year
shall not affect the amount or availability of reimbursements in another
calendar year. Any reimbursement provided hereunder shall be paid no later
than the earlier of (i) the time prescribed under the Company’s applicable
policies and procedures, or (ii) the last day of the calendar year following
the calendar year in which your Date of Termination occurs.

	 	(b)	 	Notwithstanding any contrary provisions in any plan, program or policy of the
Company, if all or any portion of the benefits payable under the Agreement, either
alone or together with other payments and benefits which you receive or are entitled to
receive from the Company, would constitute a “parachute payment” within the meaning of
Section 280G of the Code, the Company shall reduce the payments and benefits payable to
you under the Agreement to the extent necessary so that no portion thereof shall be
subject to the excise tax imposed by Section 4999 of the Code, but only if, by reason
of such reduction, the net

 

 

Mr. John A. Clerico

June 15, 2009

Page 7

after-tax benefit shall exceed the net after-tax benefit if such reduction were not
made. “Net after-tax benefit” for these purposes shall mean the sum of (i) the
total amount payable to you under the Agreement, plus (ii) all other payments and
benefits which you receive or are then entitled to receive from the Company that,
alone or in combination with the payments and benefits payable under the Agreement,
would constitute a “parachute payment” within the meaning of Section 280G of the
Code, less (iii) the amount of federal income taxes payable with respect to the
foregoing calculated at the maximum marginal income tax rate for each year in which
the foregoing shall be paid to you (based upon the rate in effect for such year as
set forth in the Code at the time of the payment under the Agreement), less (iv) the
amount of excise taxes imposed with respect to the payments and benefits described
in (i) and (ii) above by Section 4999 of the Code. Any reduction, pursuant to this
paragraph, of amounts payable to you shall be made in a manner such that you receive
the best economic benefit, and to the extent economically equivalent, such reduction
shall be made on a pro-rata basis among all amounts payable under this Agreement.

     5. PAYMENT OBLIGATION ABSOLUTE.

     The Company’s obligation to pay you the amounts and to make the arrangements provided herein
shall be absolute and unconditional and shall not be affected by any circumstances, including,
without limitation, any set-off, counterclaim, recoupment, defense or other right which the Company
may have against you or anyone else. All amounts payable by the Company shall be paid without
notice or demand. You shall not be required to mitigate the amount of any payment or benefit
provided for you herein by seeking other employment or otherwise, nor shall the amount of any
payment or benefit provided for herein be reduced by any compensation earned by you as a result of
employment by another employer after the Date of Termination, or otherwise.

     6. SUCCESSORS, BINDING AGREEMENT.

     The Company 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 the
Company to expressly assume and agree to perform this Agreement in the same manner and to the same
extent that the Company would be required to perform it if no such succession had taken place.
This Agreement shall inure to the benefit of and be enforceable by your personal or legal
representatives, executors, administrators, successors, heirs, distributees, devisees and legatees.
If you should die while any amount would still be payable to you hereunder if you had continued to
live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the
terms of this Agreement to your devisee, legatee, or other designee or, if there be no such
designee, to your estate.

 

 

Mr. John A. Clerico

June 15, 2009

Page 8

     7. NOTICE.

     Any termination by the Company shall be communicated by written Notice of Termination to the
other party thereto. Notices and all other communications provided for in this Agreement shall be
in writing and shall be deemed to have been duly given when delivered or mailed by United States
registered mail, return receipt requested, postage prepaid, addressed to the respective addresses
set forth on the first page of this Agreement, provided that all notices to the Company shall be
directed to the attention of the Secretary of the Company, or to such other address as either party
may have furnished to the other in writing in accordance herewith, except that notices of change of
address shall be effective only upon receipt.

     8. MISCELLANEOUS.

     This Agreement supersedes any and all prior agreements between you and the Company concerning
the subject matter hereof. No provisions of this Agreement may be modified, waived or discharged
unless such modification, waiver or discharge is agreed to in writing signed by you and such
officer as may be specifically designated by the Board. No waiver by either party hereto at any
time of any breach by the other party hereto of, or compliance with, any condition or provision of
this Agreement to be performed by such other party shall be deemed a waiver of similar or
dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreements
or representations, oral or otherwise, express or implied, with respect to the subject matter
hereof have been made by either party which are not set forth expressly in this Agreement. The
validity, interpretation, construction and performance of this Agreement shall be governed by the
laws of the State of Texas. Except as contemplated in paragraph 3 hereof, the obligation to pay
amounts under this Agreement is an unfunded obligation of the Company, and no such obligation shall
create a trust or be deemed to be secured by any pledge or encumbrance on any property of the
Company.

     This Agreement shall not be deemed to constitute a contract of employment, nor shall any
provision hereof restrict the right of the Company to discharge you at will. Nothing herein shall
be construed to preclude the transfer of your employment to a subsidiary or affiliate of the
Company and such a transfer shall not be considered a termination of your employment hereunder.
For purposes of this Agreement, “Company” includes all subsidiaries and affiliates of the Company
to the extent such subsidiary and/or affiliate is carrying on any portion of the business of the
Company or a business similar to that being conducted by the Company.

     9. VALIDITY.

     The invalidity or unenforceability of any one or more provisions of this Agreement shall not
affect the validity or enforceability of any other provision of this Agreement, which shall remain
in full force and effect.

 

 

Mr. John A. Clerico
June 15, 2009
Page 9

     10. COUNTERPARTS.

     This Agreement may be executed in counterparts, each of which shall be deemed to be an
original but all of which together will constitute one and the same instrument.

     11. ARBITRATION.

     Any dispute or controversy arising under or in connection with this Agreement shall be settled
exclusively by arbitration in Houston, Texas in accordance with the rules of the American
Arbitration Association then in effect; provided that all arbitration expenses shall be borne by
the Company. Notwithstanding the pendency of any dispute or controversy concerning termination or
the effects thereof, the Company will continue to pay your base salary, retroactive to the Date of
Termination, if applicable, in effect immediately before any Notice of Termination giving rise to
the dispute was given and continue you as a participant in all compensation, benefit and insurance
plans in which you were then participating, until the dispute is finally resolved. Subject only to
item (b) of paragraph 4, amounts paid under this paragraph are in addition to all other amounts due
under this Agreement and shall not be offset against or reduce any other amounts due under this
Agreement. Judgment may be entered on the arbitrators’ award in any court having jurisdiction;
provided, however, that you shall be entitled to seek specific performance of your right to be paid
until the Date of Termination during the pendency of any dispute or controversy arising under or in
connection with this Agreement.

     12. SECTION 409A.

     (a) This Agreement is intended to comply with Section 409A of the Code and accompanying
Treasury regulations and guidance (“Section 409A”) and any ambiguous provision will be construed in
a manner that is compliant with or exempt from the application of Section 409A.

     (b) Notwithstanding any provision in this Agreement to the contrary, if the payment of any
compensation or benefit hereunder (including, without limitation, any severance benefit) would be
subject to additional taxes and interest under Section 409A because the timing of such payment is
not delayed as provided in Section 409A(a)(2)(B) of the Code, then any such payment or benefit that
you would otherwise be entitled to during the first six months following the Date of Termination
shall be accumulated and paid or provided, as applicable, on the date that is one day (or if such
date does not fall on a business day of the Company, the next following business day of the
Company) after the earlier of (i) the date of your death, (ii) six months after the Date of
Termination, or (iii) such earlier date upon which such amount can be paid or provided under
Section 409A without being subject to such additional taxes and interest. In the event that a
payment is delayed under this paragraph 12, the Company shall pay to you, as of the date it pays
the delayed payment, interest on the delayed payment amount at the semi-annual, short-term
applicable federal rate in effect on the Date of Termination, as provided in Section 1274(d) of the
Code, plus 2%, based on the number of days the payment was delayed beyond the Date of Termination.

 

 

Mr. John A. Clerico
June 15, 2009
Page 10

     If this letter correctly sets forth our agreement on the subject matter hereof, kindly sign
and return to the Company the enclosed copy of this letter which will then constitute our agreement
on this subject.

	 	 	 	 	 
	 	Sincerely,

Global Industries, Ltd.

 	 
	 	By:  	/s/  Dave Sheil
 	 
	 	 	Dave Sheil 	 
	 	 	Vice President, Human Resources 	 
	 

AGREED TO THIS 15th DAY OF JUNE, 2009.

     /s/ John A. Clerico                              

John A. Clerico

Chief Executive Officer and Chairman of the Board

Global Industries, Ltd.EX-10.1

Exhibit 10.1

Director Form

RHI ENTERTAINMENT, INC.

AMENDED AND
RESTATED 2008 INCENTIVE AWARD PLAN 

RESTRICTED STOCK UNIT AWARD GRANT NOTICE

          RHI
Entertainment, Inc., a Delaware corporation, (the
“Company”), pursuant to its Amended and
Restated 2008
Incentive Award Plan, as amended from time to time (the “Plan”), hereby grants to the holder listed
below (“Participant”), an award of restricted stock units (“Restricted Stock Units” or “RSUs”).
Each Restricted Stock Unit represents the right to receive one share of Stock (as defined in the
Plan) upon vesting of such Restricted Stock Unit. This award of Restricted Stock Units is subject
to all of the terms and conditions set forth herein and in the Restricted Stock Unit Award
Agreement attached hereto as Exhibit A (the “Restricted Stock Unit Award Agreement”) and
the Plan, each of which are incorporated herein by reference. Unless otherwise defined herein, the
terms defined in the Plan shall have the same defined meanings in this Grant Notice and the
Restricted Stock Unit Award Agreement.

	 	 	 
	Participant:

	 	[________________________]
	 
	 	 
	Grant Date:
	 	 
	 
	 	 
	Total Number of RSUs:

	 	[____________]
	 
	 	 
	Vesting Schedule:

	 	Subject to Participant’s continued service as an
Employee, Consultant or Director through the
applicable vesting date, 100% of the RSUs shall vest
and become nonforfeitable on the first anniversary
of the Grant Date.
	 
	 	 
	Termination:

	 	Pursuant to Section 2.5 of the Restricted Stock Unit
Award Agreement, if Participant ceases to be an
Employee, Consultant or Director prior to the
applicable vesting date, all RSUs that have not
become vested on or prior to the date of such
termination of services will thereupon be
automatically forfeited by Participant without
payment of any consideration therefor.

          By his or her signature and the Company’s signature below, Participant agrees to be bound by
the terms and conditions of the Plan, the Restricted Stock Unit Award Agreement and this Grant
Notice. Participant has reviewed the Restricted Stock Unit Award Agreement, the Plan and this
Grant Notice in their entirety, has had an opportunity to obtain the advice of counsel prior to
executing this Grant Notice and fully understands all provisions of this Grant Notice, the
Restricted Stock Unit Award Agreement and the Plan. Participant hereby agrees to accept as
binding, conclusive and final all decisions or interpretations of the Committee upon any questions
arising under the Plan, this Grant Notice or the Restricted Stock Unit Award Agreement. If
Participant is married, his or her spouse has signed the Consent of Spouse attached to this Grant
Notice as Exhibit B.

	 	 	 	 	 	 	 	 	 
	RHI ENTERTAINMENT, INC.:	 	 	 	PARTICIPANT:
	 
	 	 	 	 	 	 	 	 
	By:

	 	 
	 	 
	 	By:
	 	 

	Print Name:

	 	 
	 	 	 	Print Name:
	 	 

	Title:

	 	 
	 	 	 	 	 	 
	Address:

	 	 
	 	 	 	Address:
	 	 

	 
	 	 
	 	 	 	 	 	 

 

 

EXHIBIT A

TO RESTRICTED STOCK UNIT AWARD GRANT NOTICE

RHI ENTERTAINMENT, INC. RESTRICTED STOCK UNIT AWARD AGREEMENT

          Pursuant to the Restricted Stock Unit Award Grant Notice (the “Grant Notice”) to which this
Restricted Stock Unit Award Agreement (this “Agreement”) is attached, RHI Entertainment, Inc., a
Delaware corporation (the “Company”), has granted to Participant an award of restricted stock units
(“Restricted Stock Units” or “RSUs”) under the Amended and
Restated RHI Entertainment, Inc. 2008 Incentive Award Plan,
as amended from time to time (the “Plan”).

ARTICLE 1.

GENERAL

     1.1 Defined Terms. Wherever the following terms are used in this Agreement they
shall have the meanings specified below, unless the context clearly indicates otherwise.
Capitalized terms not specifically defined herein shall have the meanings specified in the Plan
and the Grant Notice. As used herein, the term “stock unit” shall mean a non-voting unit of
measurement which is deemed for bookkeeping purposes to be equivalent to one outstanding share of
Stock (subject to adjustment as provided in Article 12 of the Plan) solely for purposes of the
Plan and this Agreement. The Restricted Stock Units shall be used solely as a device for the
determination of the payment to eventually be made to Participant if such Restricted Stock Units
vest pursuant to Section 2.3 hereof. The Restricted Stock Units shall not be treated as property
or as a trust fund of any kind.

          (a) “Termination of Consultancy” shall mean the time when the engagement of Participant as a
Consultant to the Company or a Subsidiary is terminated for any reason, with or without cause,
including, but not by way of limitation, by resignation, discharge, death, Disability or
retirement, but excluding: (a) terminations where there is a simultaneous employment or
continuing employment of Participant by the Company or any Subsidiary, and (b) terminations where
there is a simultaneous re-establishment of a consulting relationship or continuing consulting
relationship between Participant and the Company or any Subsidiary. The Committee, in its
absolute discretion, shall determine the effect of all matters and questions relating to
Termination of Consultancy, including, but not by way of limitation, the question of whether a
particular leave of absence constitutes a Termination of Consultancy. Notwithstanding any other
provision of the Plan, the Company or any Subsidiary has an absolute and unrestricted right to
terminate a Consultant’s service at any time for any reason whatsoever, with or without cause,
except to the extent expressly provided otherwise in writing.

          (b) “Termination of Directorship” shall mean the time when Participant, if he or she is or
becomes an Independent Director, ceases to be a Director for any reason, including, but not by way
of limitation, a termination by resignation, failure to be elected, death or retirement. The
Board, in its sole and absolute discretion, shall determine the effect of all matters and
questions relating to Termination of Directorship with respect to Independent Directors.

          (c) “Termination of Employment” shall mean the time when the employee-employer relationship
between Participant and the Company or any Subsidiary is terminated for any reason, with or
without cause, including, but not by way of limitation, a termination by resignation, discharge,
death, Disability or retirement; but excluding: (a) terminations where there is a simultaneous
reemployment or continuing employment of Participant by the Company or any Subsidiary, and (b)
terminations where there is a simultaneous establishment of a consulting relationship or
continuing consulting relationship between Participant and the Company or any Subsidiary. The
Committee, in its

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absolute discretion, shall determine the effect of all matters and questions relating to
Termination of Employment, including, but not by way of limitation, the question of whether a
particular leave of absence constitutes a Termination of Employment.

          (d) “Termination of Services” shall mean Participant’s Termination of Consultancy,
Termination of Directorship or Termination of Employment, as applicable.

     1.2 Incorporation of Terms of Plan. The RSUs are subject to the terms and conditions
of the Plan which are incorporated herein by reference. In the event of any inconsistency between
the Plan and this Agreement, the terms of the Plan shall control.

ARTICLE
2.

GRANT OF RESTRICTED STOCK UNITS

     2.1 Grant of RSUs. In consideration of Participant’s past and/or continued
employment with or service to the Company or a Subsidiary and for other good and valuable
consideration, effective as of the Grant Date set forth in the Grant Notice (the “Grant Date”),
the Company grants to Participant an award of RSUs as set forth in the Grant Notice, upon the
terms and conditions set forth in the Plan and this Agreement, subject to adjustments as provided
in Article 12 of the Plan.

     2.2 Company’s Obligation to Pay. Each RSU has a value equal to the Fair Market Value
of a share of Stock on the date it becomes vested. Unless and until the RSUs will have vested in
the manner set forth in Article 2 hereof, Participant will have no right to payment of any such
RSUs. Prior to actual payment of any vested RSUs, such RSUs will represent an unsecured
obligation of the Company, payable (if at all) only from the general assets of the Company.

     2.3 Vesting Schedule.

          (a) Subject to Sections 2.3(b) and 2.5 hereof, the RSUs awarded by the Grant Notice will vest
and become nonforfeitable with respect to the applicable portion thereof according to the vesting
schedule set forth on the Grant Notice to which this Agreement is attached (the “Vesting
Schedule”), subject to Participant’s continued employment or services through the applicable
vesting dates, as a condition to the vesting of the applicable installment of the RSUs and the
rights and benefits under this Agreement. Unless otherwise determined by the Committee, partial
employment or service, even if substantial, during any vesting period will not entitle Participant
to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or
following a Termination of Services as provided in Section 2.5 hereof or under the Plan.

          (b) Notwithstanding Section 2.3(a) hereof, the Grant Notice and Section 12.2 of the Plan but
subject to Section 2.5 hereof, the RSUs will become fully vested and nonforfeitable with respect
to all shares of Stock covered thereby immediately prior to a Change in Control (and subject to
the consummation of such Change in Control); provided, however, that unless otherwise determined
by the Committee, notwithstanding the foregoing, (i) in no event shall any portion of the RSUs
become vested and nonforfeitable pursuant to Section 12.2 of the Plan or this Section 2.3(b) in
connection with an event described in Section 2.4(b) or Section 2.4(c) of the Plan, and (ii) for
purposes of this Section 2.3(b), a Change in Control shall only occur pursuant to Section 2.4(a)
of the Plan if a transaction or series of transactions described in Section 2.4(a) of the Plan
occurs with respect to 75% rather than 50% of the total combined voting power of the Company’s
securities outstanding immediately after the acquisition and, for purposes of calculating such
percentage, notwithstanding the last sentence of Paragraph (d)(1)(i) of Rule 13d-3 under the
Exchange Act, all securities not outstanding which are

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subject to such options, warrants, rights or conversion privileges (including without
limitation shares into which units in RHI Entertainment Holdings II, LLC held by KRH Investments
LLC may be converted) shall be deemed to be outstanding.

     2.4 Consideration to the Company. In consideration of the grant of the award of RSUs
by the Company, Participant agrees to render faithful and efficient services to the Company or any
Subsidiary. Nothing in the Plan or this Agreement shall confer upon Participant any right to
continue in the employ or service of the Company or any Subsidiary or shall interfere with or
restrict in any way the rights of the Company and its Subsidiaries, which rights are hereby
expressly reserved, to discharge or terminate the services of Participant at any time for any
reason whatsoever, with or without cause, except to the extent expressly provided otherwise in a
written agreement between the Company or a Subsidiary and Participant.

     2.5 Forfeiture, Termination and Cancellation upon Termination of Services.
Notwithstanding any contrary provision of this Agreement, upon Participant’s Termination of
Services for any or no reason, all then unvested RSUs subject to this Agreement will thereupon be
automatically forfeited, terminated and cancelled as of the applicable termination date without
payment of any consideration by the Company, and Participant, or Participant’s beneficiary or
personal representative, as the case may be, shall have no further rights hereunder.

     2.6 Payment upon Vesting.

          (a) As soon as administratively practicable following the vesting of any Restricted Stock
Units pursuant to Section 2.3 hereof, but in no event later than sixty (60) days after such
vesting date (for the avoidance of doubt, this deadline is intended to comply with the “short-term
deferral” exemption from Section 409A of the Code), the Company shall deliver to Participant (or
any transferee permitted under Section 3.2 hereof) a number of shares of Stock (either by
delivering one or more certificates for such shares or by entering such shares in book entry form,
as determined by the Company in its sole discretion) equal to the number of Restricted Stock Units
subject to this award that vest on the applicable vesting date, unless such Restricted Stock Units
terminate prior to the given vesting date pursuant to Section 2.5 hereof; provided, however, that
to the extent any RSUs become vested pursuant to Section 2.3(b) hereof, the Company shall deliver
such shares of Stock to Participant immediately upon vesting prior to the Change in Control.
Notwithstanding the foregoing, in the event shares of Stock cannot be issued pursuant to Section
2.7(a), (b) or (c) hereof, then the shares of Stock shall be issued pursuant to the preceding
sentence as soon as administratively practicable after the Committee determines that shares of
Stock can again be issued in accordance with Sections 2.7(a), (b) and (c) hereof.

          (b) Notwithstanding anything to the contrary in this Agreement, the Company shall be entitled
to require payment by Participant of any sums required by applicable law to be withheld with
respect to the grant of RSUs or the issuance of shares of Stock. Such payment shall be made by
deduction from other compensation payable to Participant or in such other form of consideration
acceptable to the Company which may, in the sole discretion of the Committee, include:

                    (i) Cash or check;

                    (ii) Surrender of shares of Stock (including, without limitation, shares of Stock otherwise
issuable under the RSUs) held for such period of time as may be required by the Committee in order
to avoid adverse accounting consequences and having a Fair Market Value on the date of delivery
equal to the minimum amount required to be withheld by statute; or

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                    (iii) Other property acceptable to the Committee (including, without limitation, through the
delivery of a notice that Participant has placed a market sell order with a broker with respect to
shares of Stock then issuable under the RSUs, and that the broker has been directed to pay a
sufficient portion of the net proceeds of the sale to the Company in satisfaction of its
withholding obligations; provided that payment of such proceeds is then made to the Company at such
time as may be required by the Company, but in any event not later than the settlement of such
sale).

The Company shall not be obligated to deliver any new certificate representing shares of Stock to
Participant or Participant’s legal representative or enter such share of Stock in book entry form
unless and until Participant or Participant’s legal representative shall have paid or otherwise
satisfied in full the amount of all federal, state and local taxes applicable to the taxable income
of Participant resulting from the grant of the RSUs or the issuance of shares of Stock.

     2.7 Conditions to Delivery of Stock. Subject to Section 11.5 of the Plan, the shares
of Stock deliverable hereunder, or any portion thereof, may be either previously authorized but
unissued shares of Stock or issued shares of Stock which have then been reacquired by the Company.
Such shares of Stock shall be fully paid and nonassessable. The Company shall not be required to
issue or deliver any shares of Stock deliverable hereunder or portion thereof prior to fulfillment
of all of the following conditions:

          (a) The admission of such shares of Stock to listing on all stock exchanges on which such
Stock is then listed;

          (b) The completion of any registration or other qualification of such shares of Stock under
any state or federal law or under rulings or regulations of the Securities and Exchange Commission
or of any other governmental regulatory body, which the Committee shall, in its absolute
discretion, deem necessary or advisable;

          (c) The obtaining of any approval or other clearance from any state or federal governmental
agency which the Committee shall, in its absolute discretion, determine to be necessary or
advisable;

          (d) The receipt by the Company of full payment for such shares of Stock, including payment of
any applicable withholding tax, which may be in one or more of the forms of consideration
permitted under Section 2.6 hereof; and

          (e) The lapse of such reasonable period of time following the vesting of any Restricted Stock
Units as the Committee may from time to time establish for reasons of administrative convenience.

     2.8 Rights as Stockholder. The holder of the RSUs shall not be, nor have any of the
rights or privileges of, a stockholder of the Company, including, without limitation, voting
rights and rights to dividends, in respect of the RSUs and any shares of Stock underlying the RSUs
and deliverable hereunder unless and until such shares of Stock shall have been issued by the
Company and held of record by such holder (as evidenced by the appropriate entry on the books of
the Company or of a duly authorized transfer agent of the Company). No adjustment will be made
for a dividend or other right for which the record date is prior to the date the shares of Stock
are issued, except as provided in Section 12.1 of the Plan.

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ARTICLE 3.

OTHER PROVISIONS

     3.1 Administration. The Committee shall have the power to interpret the Plan and
this Agreement and to adopt such rules for the administration, interpretation and application of
the Plan as are consistent therewith and to interpret, amend or revoke any such rules. All
actions taken and all interpretations and determinations made by the Committee in good faith shall
be final and binding upon Participant, the Company and all other interested persons. No member of
the Committee or the Board shall be personally liable for any action, determination or
interpretation made in good faith with respect to the Plan, this Agreement or the RSUs.

     3.2 Grant is Not Transferable. During the lifetime of Participant, the RSUs may not
be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent
and distribution, unless and until the shares of Stock underlying the RSUs have been issued, and
all restrictions applicable to such shares of Stock have lapsed. Neither the RSUs nor any
interest or right therein shall be liable for the debts, contracts or engagements of Participant
or his or her successors in interest or shall be subject to disposition by transfer, alienation,
anticipation, pledge, encumbrance, assignment or any other means whether such disposition be
voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any
other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof
shall be null and void and of no effect, except to the extent that such disposition is permitted
by the preceding sentence.

     3.3 Binding Agreement. Subject to the limitation on the transferability of the RSUs
contained herein, this Agreement will be binding upon and inure to the benefit of the heirs,
legatees, legal representatives, successors and assigns of the parties hereto.

     3.4 Adjustments Upon Specified Events. The Committee may accelerate payment and
vesting of the Restricted Stock Units in such circumstances as it, in its sole discretion, may
determine. In addition, upon the occurrence of certain events relating to the Stock contemplated
by Article 12 of the Plan (including, without limitation, an extraordinary cash dividend on such
Stock), the Committee shall make such adjustments the Committee deems appropriate in the number of
Restricted Stock Units then outstanding and the number and kind of securities that may be issued
in respect of the Restricted Stock Units. Participant acknowledges that the RSUs are subject to
amendment, modification and termination in certain events as provided in this Agreement and
Article 12 of the Plan.

     3.5 Notices. Any notice to be given under the terms of this Agreement to the Company
shall be addressed to the Company in care of the Secretary of the Company at the Company’s
principal office, and any notice to be given to Participant shall be addressed to Participant at
Participant’s last address reflected on the Company’s records. By a notice given pursuant to this
Section 3.5, either party may hereafter designate a different address for notices to be given to
that party. Any notice shall be deemed duly given when sent via email or when sent by certified
mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch
post office regularly maintained by the United States Postal Service.

     3.6 Titles. Titles are provided herein for convenience only and are not to serve as
a basis for interpretation or construction of this Agreement.

     3.7 Governing Law. The laws of the State of Delaware shall govern the
interpretation, validity, administration, enforcement and performance of the terms of this
Agreement regardless of the law that might be applied under principles of conflicts of laws.

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     3.8 Conformity to Securities Laws. Participant acknowledges that the Plan and this
Agreement are intended to conform to the extent necessary with all provisions of the Securities
Act and the Exchange Act and any and all regulations and rules promulgated by the Securities and
Exchange Commission thereunder, and state securities laws and regulations. Notwithstanding
anything herein to the contrary, the Plan shall be administered, and the RSUs are granted, only in
such a manner as to conform to such laws, rules and regulations. To the extent permitted by
applicable law, the Plan and this Agreement shall be deemed amended to the extent necessary to
conform to such laws, rules and regulations.

     3.9 Amendments, Suspension and Termination. To the extent permitted by the Plan,
this Agreement may be wholly or partially amended or otherwise modified, suspended or terminated
at any time or from time to time by the Committee or the Board; provided that, except as may
otherwise be provided by the Plan, no amendment, modification, suspension or termination of this
Agreement shall adversely affect the RSUs in any material way without the prior written consent of
Participant.

     3.10 Successors and Assigns. The Company may assign any of its rights under this
Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the
successors and assigns of the Company. Subject to the restrictions on transfer herein set forth
in Section 3.2 hereof, this Agreement shall be binding upon Participant and his or her heirs,
executors, administrators, successors and assigns.

     3.11 Limitations Applicable to Section 16 Persons. Notwithstanding any other
provision of the Plan or this Agreement, if Participant is subject to Section 16 of the Exchange
Act, the Plan, the RSUs and this Agreement shall be subject to any additional limitations set
forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any
amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such
exemptive rule. To the extent permitted by applicable law, this Agreement shall be deemed amended
to the extent necessary to conform to such applicable exemptive rule.

     3.12 Entire Agreement. The Plan, the Grant Notice and this Agreement constitute the
entire agreement of the parties and supersede in their entirety all prior undertakings and
agreements of the Company and Participant with respect to the subject matter hereof.

     3.13 Section 409A. The RSUs are not intended to constitute “nonqualified deferred
compensation” within the meaning of Section 409A of the Code (together with any Department of
Treasury regulations and other interpretive guidance issued thereunder, including without
limitation any such regulations or other guidance that may be issued after the date hereof,
“Section 409A”). However, notwithstanding any other provision of the Plan, the Grant Notice or
this Agreement, if at any time the Committee determines that the RSUs (or any portion thereof) may
be subject to Section 409A, the Committee shall have the right in its sole discretion (without any
obligation to do so or to indemnify Participant or any other person for failure to do so) to adopt
such amendments to the Plan, the Grant Notice or this Agreement, or adopt other policies and
procedures (including amendments, policies and procedures with retroactive effect), or take any
other actions, as the Committee determines are necessary or appropriate either for the RSUs to be
exempt from the application of Section 409A or to comply with the requirements of Section 409A.

     3.14 Limitation on Participant’s Rights. Participation in the Plan confers no rights
or interests other than as herein provided. This Agreement creates only a contractual obligation
on the part of the Company as to amounts payable and shall not be construed as creating a trust.
Neither the Plan nor any underlying program, in and of itself, has any assets. Participant shall
have only the rights of a general unsecured creditor of the Company with respect to amounts
credited and benefits payable,

A-6

 

if any, with respect to the RSUs, and rights no greater than the right to receive the Stock
as a general unsecured creditor with respect to RSUs, as and when payable hereunder.

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EXHIBIT B

TO RESTRICTED STOCK UNIT AWARD GRANT NOTICE

CONSENT OF SPOUSE

     I, _______________, spouse of _______________, have read and approve the foregoing
RHI Entertainment, Inc. Restricted Stock Unit Award Agreement (the “Agreement”). In consideration
of issuing to my spouse the shares of the common stock of RHI Entertainment, Inc. set forth in the
Agreement, I hereby appoint my spouse as my attorney-in-fact in respect to the exercise of any
rights under the Agreement and agree to be bound by the provisions of the Agreement insofar as I
may have any rights in said Agreement or any shares of the common stock of RHI Entertainment, Inc.
issued pursuant thereto under the community property laws or similar laws relating to marital
property in effect in the state of our residence as of the date of the signing of the foregoing
Agreement.

	 	 	 
	Dated: _______________, 2009
	 	 
	 

	 	 
	 

	 	Signature of Spouse

B-1

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