Document:

Exhibit 10.24 12-31-13

Exhibit 10.24

FORM OF FIRST AMENDMENT
TO
CHANGE IN CONTROL AGREEMENT

		
	A.
	The Change in Control Agreement (the “Agreement”) dated as of ___________, 2008 by and between Citrix Systems, Inc. (the “Company”) and _______________ (the “Executive”) is amended as follows:

1.Section 4(a) of the Agreement is hereby amended by deleting the reference to “one times” and replacing it with “one and a half times.”
2.Section 4(e) of the Agreement is hereby amended by deleting said section in its entirety and substituting the following in lieu thereof:
“(e)    Notwithstanding anything to the contrary in any applicable option agreement or stock-based award agreement, upon a Terminating Event, all outstanding stock options and other stock-based awards granted to the Executive by the Company, including but not limited to restricted stock and restricted stock units, shall immediately accelerate and become exercisable or non-forfeitable as of the effective date of such Terminating Event; provided, however, with respect to stock-based awards with performance vesting with respect to which the number of options, units or shares, as the case may be, has not been determined, the performance criteria set forth in the award agreement will be deemed to be 100 percent attained, and 100 percent of the base number of such options, units or shares, as the case may be, shall become fully vested and non-forfeitable.  The Executive shall also be entitled to any other rights and benefits with respect to stock-based awards to the extent and upon the terms provided in the award agreement, plan or other instrument attendant thereto pursuant to which such stock-based awards were granted.”
3.Section 5 of this Agreement is hereby amended by deleting said section in its entirety and substituting therefor the following:
“5.    Additional Limitation.
(a)    Anything in this Agreement to the contrary notwithstanding, in the event that any compensation, payment or distribution by the Company to or for the benefit of the Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (the “Severance Payments”), would be subject to the excise tax imposed by Section 4999 of the Internal Revenue Code of 1986, as amended (the “Code”), the following provisions shall apply:
(i)    If the Severance Payments, reduced by the sum of (A) the Excise Tax and (B) the total of the federal, state, and local income and employment taxes payable by the Executive on the amount of the Severance Payments which are in excess of the Threshold Amount, are greater than or equal to the Threshold Amount, the Executive shall be entitled to the full benefits payable under this Agreement.
(ii)    If the Threshold Amount is less than (x) the Severance Payments, but greater than (y) the Severance Payments reduced by the sum of (A) the Excise Tax and (B) the total of the federal, state, and local income and employment taxes on the amount of the Severance Payments which are in excess of the Threshold Amount, then the benefits payable under this Agreement shall be reduced (but not below zero) to the extent necessary so that the sum of all Severance Payments shall not exceed the Threshold Amount.  
(b)    For the purposes of this Section 5, “Threshold Amount” shall mean three times the Executive’s ‘base amount’ within the meaning of Section 280G(b)(3) of the Code and the regulations promulgated thereunder less one dollar ($1.00); and “Excise Tax” shall mean the excise tax imposed by Section 4999 of the Code, and any interest or penalties incurred by the Executive with respect to such excise tax.
(c)    The determination as to which of the alternative provisions of Section 5(a) above shall apply to the Executive shall be made by a nationally recognized accounting firm 

1

Exhibit 10.24

selected by the Company (the “Accounting Firm”), which shall provide detailed supporting calculations both to the Company and the Executive within 15 business days of the Date of Termination, if applicable, or at such earlier time as is reasonably requested by the Company or the Executive.  For purposes of determining which of the alternative provisions of Section 5(a) above shall apply, the Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and local income taxes at the highest marginal rates of individual taxation in the state and locality of the Executive’s residence on the Date of Termination, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes.  Any determination by the Accounting Firm shall be binding upon the Company and the Executive.”
4.The Agreement is further amended by adding the following Section 20 at the end thereof:
“20.    Section 409A.
(a)    Anything in this Agreement to the contrary notwithstanding, if at the time of the Executive’s ‘separation from service’ within the meaning of Section 409A of the Code, the Company determines that the Executive is a ‘specified employee’ within the meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent any payment or benefit that the Executive becomes entitled to under this Agreement would be considered deferred compensation subject to the 20 percent additional tax imposed pursuant to Section 409A(a) of the Code as a result of the application of Section 409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not be provided until the date that is the earlier of (A) six months and one day after the Executive’s separation from service, or (B) the Executive’s death; provided, however, that in the case of benefits, the Executive may elect to pay for the costs of such benefits during such delay period in exchange for reimbursement of such costs after the end of the delay period.  Any such delayed cash payment shall earn interest at an annual rate equal to the applicable federal short-term rate published by the Internal Revenue Service for the month in which the date of separation from service occurs, from such date of separation from service until the payment.
(b)    The parties intend that this Agreement will be administered in accordance with Section 409A of the Code.  To the extent that any provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in such a manner so that all payments hereunder comply with Section 409A of the Code.  The parties agree that this Agreement may be amended, as reasonably requested by either party, and as may be necessary to fully comply with Section 409A of the Code and all related rules and regulations in order to preserve the payments and benefits provided hereunder without additional cost to either party.
(c)    The determination of whether and when a separation from service has occurred shall be made in accordance with the presumptions set forth in Treasury Regulation Section 1.409A-1(h).
(d)    The Company makes no representation or warranty and shall have no liability to the Executive or any other person if any provisions of this Agreement are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from, or the conditions of, such Section.”
		
	B.
	This First Amendment shall become effective November __, 2008.

		
	C.
	Except as amended herein, the Agreement is confirmed in all other respects.

2

Exhibit 10.24

IN WITNESS WHEREOF, this First Amendment has been executed as a sealed instrument on behalf of the Company by its duly authorized officer and by the Executive this ___ day of November, 2008.
CITRIX SYSTEMS, INC.
By:    ___________________________________________________    
Name:
Title:
______________________________________________

3RCL -2013.12.31-EX10.23

Exhibit 10.23

Royal Caribbean Cruises Ltd.
2008 EQUITY INCENTIVE PLAN
Restricted Stock Unit Agreement

GRANTEE: 
DATE OF GRANT:  
NUMBER OF RESTRICTED STOCK UNITS GRANTED 

This Restricted Stock Unit Agreement (the “Agreement”) is dated as of _________________, (the “Grant Date”) and is entered into between Royal Caribbean Cruises Ltd. (the “Company”) and ____________________, an employee of the Company and/or its Affiliates (the “Grantee”).
This Agreement is pursuant to the provisions of the Royal Caribbean Cruises Ltd. 2008 Equity Incentive Plan, as amended (the “Plan”), with respect to the number of Restricted Stock Units (“Units”) specified above. Capitalized terms used and not defined in this Agreement shall have the meanings given to them in the Plan. This Agreement consists of this document and the Plan. The obligation of the Company pursuant to this Agreement is that of an unfunded and unsecured pledge to transfer to Grantee, as of the applicable Vesting Date, legal title and ownership of shares of Stock of the Company (the “Shares”).
Grantee and the Company agree as follows: 
	
				
	Application of Plan; Administration
	This Agreement and Grantee’s rights under this Agreement are subject to all the terms and conditions of the Plan, as it may be amended from time to time, as well as to such rules and regulations as the Committee may adopt.  It is expressly understood that the Committee that administers the Plan is authorized to administer, construe and make all determinations necessary or appropriate to the administration of the Plan and this Agreement, all of which shall be binding upon Grantee to the extent permitted by the Plan.  Any inconsistency between this Agreement and the Plan shall be resolved in favor of the Plan.

	Vesting
	Unless sooner Vested in accordance with the terms of the Plan or Schedule A hereto, the Units will become Vested Units on the dates and in the respective amounts set forth below and will no longer be subject to forfeiture (each such date, including any date where shares vest on an accelerated basis pursuant to Schedule A, referred to herein as a “Vesting Date”):  

	Vesting Dates
	Shares

	____, 201__ (“First Vesting Date”)
	 

	     ____, 201__ (“Second Vesting Date”)
	 

	  ____, 201__ (“Third Vesting Date”)
	 

	 ___  , 201__ (“Final Vesting Date”)
	 

	Rights as Shareholder
	Grantee will not be entitled to any privileges of ownership of Shares of Stock of the Company underlying Grantee’s Units unless and until they actually Vest.

	Settlement of Units
	(a)  Time of Settlement.  This Agreement will be settled by the delivery to Grantee of one Share for each Vested Unit as of each Vesting Date.
(b)   Termination Prior to Vesting Date.  Unless otherwise specified in the Plan, if Grantee has a Termination of Service prior to any Vesting Date other than by reason of his/her death or Disability, Grantee will forfeit Units that have not Vested.  If Grantee has a Termination of Service by reason of his/her death or Disability, all Units that have not Vested shall immediately Vest.
(c)  Issuance of Shares.  Shares due and payable to Grantee under the terms of this Agreement shall be issued as of the applicable Vesting Date.  Such shares may be subject to restrictions on transferability to the extent set forth in Schedule A hereto.

	Transferability
	Grantee’s Units are not transferable, whether voluntarily or involuntarily, by operation of law or otherwise, except as provided in the Plan. Any assignment, pledge, transfer, or other disposition, voluntary or involuntary, of Grantee’s Units made, or any attachment, execution, garnishment, or lien issued against or placed upon the Units, other than as so permitted, shall be void.

GRANTEE:  
DATE OF GRANT:  
NUMBER OF RESTRICTED STOCK UNITS GRANTED: 

	
		
	Taxes
	(a) FICA/Medicare Taxes.  U.S. employees of the Company and/or its Affiliates will be subject to FICA/Medicare tax on each Vesting Date based on the Fair Market Value of the Shares underlying the Units that Vest on such Vesting Date.  
(b) U.S. Federal Income Taxes.  U.S. employees of the Company and/or its Affiliates will be subject to U.S. federal income tax on each Vesting Date based on the Fair Market Value of the Shares underlying the Units that Vest on such Vesting Date. 
(c) Tax Consequences for Non-U.S. Residents.  Grantees who are neither citizens nor resident aliens of the U.S. should consult with their financial/tax advisor regarding both the U.S. and non-U.S. tax consequences of the receipt of this award and subsequent settlement/receipt of the Shares.
(d) Grantee will be solely responsible for the payment of all such taxes, as well as for any other state, local or non-U.S. taxes that may be related to Grantee’s receipt of the Units and/or Shares.

	Miscellaneous
	(a) This Agreement shall not confer upon an employee any right to continue employment with the Company or any Affiliate, nor shall this Agreement interfere in any way with the Company’s or Affiliate’s right to terminate such employment at any time. 
(b) Subject to the terms of the Plan, the Committee may terminate, amend, or modify the Plan; provided, however, that no such termination, amendment, or modification of the Plan may in any way adversely affect Grantee’s rights under this Agreement without Grantee’s consent.
(c) This Agreement will be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or stock exchanges as may be required.
(d) To the extent not preempted by U.S. federal law, this Agreement shall be governed by, and construed in accordance with, the laws of the State of Florida.

	Signatures
	By the signatures below, the Grantee and the authorized representative of the Company acknowledge agreement to this Restricted Stock Unit Agreement as of the Date of Grant specified above.   

	
				
	 
	Royal Caribbean Cruises Ltd.
	 
	Grantee:

	 
	 
	 
	 

	 
	By: ______________________________
	 
	___________________________________

	 
	Jason T. Liberty
	 
	 

	 
	Senior Vice President & CFO
	 
	 

SCHEDULE A

ACCELERATED VESTING INTO REQUIREMENT

		
	1.
	For purposes of this Agreement, the following terms shall, when capitalized, have the following meanings:

“Applicable Age Requirement” means the age of 62 or above.

“Applicable Service Requirement” means 15 years of continuous employment by the Company.

“Grant Date Qualifying Grantee” means a Grantee who meets both of the Qualifying Criteria as of the Grant Date.

“Qualifying Criteria” means, collectively, the Applicable Age Requirement and the Applicable Service Requirement.

		
	2.
	If Grantee is a Grant Date Qualifying Grantee, then, notwithstanding the vesting schedule set forth in “Vesting”, 100% of the Units shall vest on the First Vesting Date.  

		
	3.
	If Grantee is not a Grant Date Qualifying Grantee but meets both of the Qualifying Criteria prior to the Final Vesting Date, all Units that have not Vested in accordance with the vesting schedule set forth in “Vesting” shall immediately Vest on the first anniversary of the first date Grantee meets both of the Qualifying Criteria.

		
	4.
	(a)    Grantee hereby acknowledges and agrees that he or she shall not sell, assign, pledge, transfer or otherwise dispose of any of the Shares issued in respect of the Vested Units issued in accordance with Section 2 or 3 above earlier than the Vesting Dates that would have applied to such Units but for the application of this Schedule A.  By way of example, a Grant Date Qualifying Grantee whose shares vest on an accelerated basis pursuant to Section 2 above shall be eligible to sell up to 25% of the Shares starting on the First Vesting Date, up to 50% of the Shares starting on the Second Vesting Date, up to 75% of the Shares on the Third Vesting Date and up to 100% of the Shares starting on the Final Vesting Date.

(b)    The book entry or certificate representing the Shares issued in accordance with this Schedule A shall contain a notation or bear the following legend noting the existence of the restrictions on transfer.  
“THE SHARES REPRESENTED BY THIS [BOOK ENTRY] [CERTIFICATE] MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF A RESTRICTED STOCK UNIT AGREEMENT BETWEEN THE COMPANY AND THE SHAREHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY.” 

(c)     Grantee agrees that, in order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate “stop transfer” instructions to its transfer agent.

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