Document:

FSS-2015.6.30-10Q Ex-10.2

        

EXHIBIT 10.2
Federal Signal Corporation 
2015 Executive Incentive Compensation Plan  
Restricted Stock Award Agreement
You have been selected to receive a grant of Restricted Stock pursuant to the Federal Signal Corporation 2015 Executive Incentive Compensation Plan (the “Plan”), as specified below:
	
			
	Participant:
	_______________________________________________________
	 

	
			
	Date of Grant:
	_______________________________________________________
	 

	
			
	Number of Shares of Restricted Stock Granted:
	_______________________________________________________
	 

	
		
	Lapse of Restriction Date:
	Restrictions placed on the shares of Restricted Stock shall lapse on the __, 20__.

	
	
	This document constitutes part of the prospectus covering 
securities that have been registered under the Securities Act of 1933.

THIS AGREEMENT, effective as of the Date of Grant set forth above, represents the grant of shares of Restricted Stock by Federal Signal Corporation, a Delaware corporation (together with its wholly owned subsidiaries hereinafter referred to as the “Company”), to the Participant named above, pursuant to the provisions of the Plan.
The Plan provides a complete description of the terms and conditions governing the Restricted Stock.  If there is any inconsistency between the terms of this Award Agreement and the terms of the Plan, the Plan’s terms shall completely supersede and replace the conflicting terms of this Award Agreement.  All capitalized terms shall have the meanings ascribed to them in the Plan, unless specifically set forth otherwise herein.  The parties hereto agree as follows:
1.Employment with the Company.  Except as may otherwise be provided in Sections 5(a), 5(b), 6 or 7, the Restricted Stock granted hereunder is granted on the condition that the Participant remains an Employee of the Company from the Date of Grant through (and including) the Lapse of Restriction Date set forth above (the “Period of Restriction”).
This grant of Restricted Stock shall not confer any right to the Participant (or any other Participant) to be granted Restricted Stock or other Awards in the future under the Plan.
2.    Certificate Legend.  Each certificate representing shares of Restricted Stock granted pursuant to the Plan shall bear the following legend:
“TRANSFER OF THIS CERTIFICATE AND THE SHARES REPRESENTED HEREBY IS RESTRICTED PURSUANT TO THE TERMS OF THE FEDERAL SIGNAL CORPORATION 2015 EXECUTIVE INCENTIVE COMPENSATION PLAN AND A RESTRICTED STOCK AWARD AGREEMENT, BETWEEEN FEDERAL SIGNAL CORPORATION AND PARICIPANT.  A COPY OF SUCH PLAN AND AWARD AGREEMENT IS ON FILE AT THE PRINCIPAL EXECUTIVE OFFICES OF FEDERAL SIGNAL CORPORATION.” 

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3.    Removal of Restrictions.  Except as may otherwise be provided herein and in the Plan, the shares of Restricted Stock granted pursuant to this Award Agreement shall become freely transferable by the Participant on the date and in the amount set forth under the Lapse of Restriction Dates above, subject to applicable federal and state securities laws.  Once shares of Restricted Stock are no longer subject to any restrictions, the Participant shall be entitled to have the legend required by Section 2 of this Award Agreement removed from the applicable stock certificates.
4.    Voting Rights and Dividends.  During the Period of Restriction, the Participant may exercise full voting rights and shall accrue all dividends and other distributions paid with respect to the shares of Restricted Stock while they are held.  If any such dividends or distributions are paid in shares, such shares shall be subject to the same restrictions on transferability as are the shares of Restricted Stock with respect to which they were paid.
5.    Termination of Employment.  
		
	(a)
	By Death or Disability.  In the event the employment of the Participant is terminated due to death, or Disability (as determined by the Committee) during the Period of Restriction, the Period of Restriction and the restrictions imposed on the shares of Restricted Stock held by the Participant at the time of his/her death or Disability shall immediately lapse with all such shares becoming immediately transferable by the Participant or his or her estate, subject to applicable federal and state securities laws.  For the purposes of this Award Agreement, “Disability” shall have the meaning ascribed to such term in the Participant’s governing long-term disability plan, or if no such plan exists, at the discretion of the Committee.

		
	(b)
	By Retirement.  In the event the employment of the Participant is terminated by reason of Participant’s retirement during the Period of Restriction on terms and conditions authorized in writing by the Committee, the Committee may exercise its discretion at or near the Participant’s retirement date to provide that some or all outstanding Restricted Stock not yet vested is immediately fully vested. In exercising its discretion under this Section 5(b), the Committee shall consider whether the Participant:  (1) remained employed in good standing with the Company through the Participant’s retirement date; (2) provided reasonable written notice to the Company of the Participant’s intention to retire of no less than twelve weeks; (3) materially breached any statutory, contractual, or common law duties owed to Company or any material Company Policy, including but not limited to post-employment non-competition, non-solicitation and confidentiality obligations; and (4) failed in good faith to provide to and perform for Company all reasonably requested duties and responsibilities in connection with the transition of the Participant’s duties and responsibilities.  In exercising its discretion, the Committee shall also consider: (1) the financial status of the Company; (2) Company performance: (3) Company stock performance; and (4) where appropriate, input from Company management.  In the event the Committee does not so exercise its discretion, the Participant’s termination from employment shall be considered a termination of employment for other reasons and vesting and exercising shall be governed by Section 5(c) of this Award Agreement.  

		
	(c)
	Termination for Other Reasons.  If the employment of the Participant shall terminate for any reason other than the reasons set forth in Sections 5(a) and 5(b) above or Sections 6 or 7 below, during the Period of Restriction, all shares of Restricted Stock held by the Participant at the time of employment termination and still subject to a Period of Restriction or other restrictions shall be forfeited by the Participant to the Company.  The transfer of employment of the Participant between the Company and any affiliate or subsidiary (or between affiliates and/or subsidiaries) shall not be deemed a termination of employment for the purposes of this Award Agreement.

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6.    Change-in-Control.  Notwithstanding anything to the contrary in this Award Agreement, in the event of a Change-in-Control of the Company during the Period of Restriction and prior to the Participant’s termination of employment with the Company and its subsidiaries, the Period of Restriction and restrictions imposed on the shares of Restricted Stock shall immediately lapse, with all such shares of Restricted Stock vesting and becoming freely transferable by the Participant, subject to applicable federal and state securities laws.
7.    Acceleration of Vesting of Shares of Restricted Stock in the Event of Divestiture of Business Segment.    In the event that the “Business Segment” (as that term is defined in this Section below) in which the Participant is primarily employed as of the “Divestiture Date” (as that term is defined in this Section below) is the subject of a “Divestiture of a Business Segment” (as that term is defined in this Section below), and such divestiture results in the termination of the Participant’s employment with the Company and its subsidiaries for any reason, the Period of Restriction and the restrictions imposed on the shares of Restricted Stock subject to this Award Agreement shall immediately lapse, with all such shares of Restricted Stock vesting and becoming freely transferable by the Participant, subject to applicable federal and state securities laws.
For purposes of this Award Agreement, the term “Business Segment” shall mean a business line which the Company treats as a separate operating segment under the segment reporting rules under generally accepted accounting principles as used in the United States, which currently includes the following: Safety and Security Systems Group, Fire Rescue Group, and Environmental Solutions Group.  Likewise, the term “Divestiture Date” shall mean the date that a transaction constituting a Divestiture of a Business Segment is finally consummated.

For purposes of this Award Agreement, the term “Divestiture of a Business Segment” means the following:

		
	(a)
	When used with reference to the sale of stock or other securities of a Business Segment that is or becomes a separate corporation, limited liability company, partnership or other separate business entity, the sale, exchange, transfer, distribution or other disposition of the ownership, either beneficially or of record or both, by the Company or one of its subsidiaries to “Nonaffiliated Persons” (as that term is defined in this Section below) of 100% of either (a) the then-outstanding common stock (or the equivalent equity interests) of the Business Segment or (b) the combined voting power of the then-outstanding voting securities of the Business Segment entitled to vote generally in the election of the board of directors or the equivalent governing body of the Business Segment;

		
	(b)
	When used with reference to the merger or consolidation of a Business Segment that is or becomes a separate corporation, limited liability company, partnership or other separate business entity, any such transaction that results in Nonaffiliated Persons owning, either beneficially or of record or both, 100% of either (a) the then-outstanding common stock (or the equivalent equity interests) of the Business Segment or (b) the combined voting power of the then-outstanding voting securities of the Business Segment entitled to vote generally in the election of the board of directors or the equivalent governing body of the Business Segment; or

		
	(c)
	When used with reference to the sale of the assets of the Business Segment, the sale, exchange, transfer, liquidation, distribution or other disposition of all or substantially all of the assets of the Business Segment necessary or required to operate the Business Segment in the manner that the Business Segment had been operated prior to the Divestiture Date.

For purposes of this Award Agreement, the term “Nonaffiliated Persons” shall mean any persons or business entities which do not control, or which are not controlled by or under common control with, the Company.  

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8.    Nontransferability.  Unless otherwise determined by the Committee pursuant to the terms of the Plan, during the Period of Restriction, shares of Restricted Stock granted pursuant to this Award Agreement may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated (a “Transfer”), other than by will or by the laws of descent and distribution, except as provided in the Plan.  If any Transfer, whether voluntary or involuntary, of shares of Restricted Stock is made, or if any attachment, execution, garnishment, or lien shall be issued against or placed upon the shares of Restricted Stock, the Participant’s right to such shares of Restricted Stock shall be immediately forfeited by the Participant to the Company, and this Award Agreement shall lapse.
9.    Recapitalization.  In the event there is any change in the Company’s shares through the declaration of stock dividends or through recapitalization resulting in stock splits or through merger, consolidation, exchange of shares, or otherwise, the number and class of shares of Restricted Stock subject to this Award Agreement may be equitably adjusted by the Committee, in its sole discretion, to prevent dilution or enlargement of rights.
10.    Tax Withholding.  The Company shall have the power and the right to deduct or withhold, or require the Participant or beneficiary to remit to the Company, an amount sufficient to satisfy federal, state, and local taxes (including the Participant’s FICA obligation), domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising as a result of this Award Agreement.  The Participant may elect, subject to any procedural rules adopted by the Committee, to satisfy the minimum statutory withholding tax requirement, in whole or in part, by having the Company withhold shares having an aggregate fair market value on the date the tax is to be determined, equal to such minimum statutory withholding tax.
11.    Other Tax Matters.  The Participant shall review with his or her own tax advisors the federal, state, local and other tax consequences, including those in addition to any tax withholding obligations, of the investment in the Restricted Shares and the transactions contemplated by this Award Agreement.  The Participant has the right to file an election under Section 83 of the Code. The filing of the 83(b) election is the responsibility of the Participant.  The Participant must notify the Company of the filing on or prior to the day of making the filing.
12.    Section 409A.  This Award Agreement shall be construed consistent with the intention that it be exempt from 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”).
13.    Continuation of Employment.  This Award Agreement shall not confer upon the Participant any right to continuation of employment by the Company, nor shall this Award Agreement interfere in any way with the Company’s right to terminate the Participant’s employment at any time.
14.    Beneficiary Designation.  The Participant may, from time to time, name any beneficiary or beneficiaries (who may be named contingently or successively) to whom any benefit under this Award Agreement is to be paid in case of his or her death before he or she receives any or all of such benefit.  Each such designation shall revoke all prior designations by the Participant, shall be in a form prescribed by the Company, and will be effective only when filed by the Participant in writing with the Corporate Secretary of the Company during the Participant’s lifetime.  In the absence of any such designation, benefits remaining unpaid at the Participant’s death shall be paid to the Participant’s estate.

Beneficiary Designation (name, address, and relationship):
 
                             
                            

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15.    Entire Award; Modification
This Award Agreement and the Plan constitute the entire agreement between the parties with respect to the terms and supersede all prior or written or oral negotiations, commitments, representations and agreements with respect thereto.  The terms and conditions set forth in this Award Agreement may only be modified or amended in writing, signed by both parties. 
16.    Severability
In the event any one or more of the provisions of this Award Agreement shall be held invalid, illegal or unenforceable in any respect in any jurisdiction, such provision or provisions shall be automatically deemed amended, but only to the extent necessary to render such provision or provisions valid, legal and enforceable in such jurisdiction, and the validity, legality and enforceability of the remaining provisions of this Award Agreement shall not in any way be affected or impaired thereby.
17.    Miscellaneous.  
		
	(a)
	This Award Agreement and the rights of the Participant hereunder are subject to all the terms and conditions of the Plan, as the same may be amended from time to time, as well as to such rules and regulations as the Committee may adopt for administration of the Plan.  The Committee shall have the right to impose such restrictions on any shares acquired pursuant to this Award Agreement, as it may deem advisable, including, without limitation, restrictions under applicable federal securities laws, under applicable federal and state tax law, under the requirements of any stock exchange or market upon which such shares are then listed and/or traded, and under any blue sky or state securities laws applicable to such Shares.

It is expressly understood that the Committee is authorized to administer, construe, and make all determinations necessary or appropriate to the administration of the Plan and this Award Agreement, all of which shall be binding upon the Participant.
		
	(b)
	The Committee may terminate, amend, or modify the Plan; provided, however, that no such termination, amendment, or modification of the Plan may in any material way adversely affect the Participant’s vested rights under this Award Agreement, without the written consent of the Participant.

		
	(c)
	The Participant agrees to take all steps necessary to comply with all applicable provisions of federal and state securities and tax laws in exercising his or her rights under this Award Agreement.

		
	(d)
	This Award Agreement shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required.

		
	(e)
	All obligations of the Company under the Plan and this Award Agreement, with respect to the Restricted Stock, shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company.

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	(f)
	The Participant agrees to execute this agreement and return it to the address below within 45 days of receipt of this agreement or forfeit the awarded restricted stock shares.

Federal Signal Corporation
1415 W. 22nd Street
Oak Brook, Illinois    60523
Attention: Corporate Secretary    

		
	(g)
	To the extent not preempted by federal law, this Award Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without giving effect to principles of conflict of law.

IN WITNESS WHEREOF, the parties have caused this Award Agreement to be executed effective as of ______________________________.
	
		
	 
	 

	 
	Federal Signal Corporation 
 
 
By:                  _________________________________

	ATTEST: ______________________________________________
	 
______________________________________________Participant

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2015 PlanExhibit 10.1

 Exhibit 10.1 

JOINDER AGREEMENT 

THIS JOINDER AGREEMENT (“Joinder Agreement”) is executed as of July 22, 2015, by EACH OF THE ENTITIES IDENTIFIED AS “JOINING
PARTIES” ON THE SIGNATURE PAGES OF THIS JOINDER AGREEMENT (each individually, a “Joining Party” and collectively, the “Joining Parties”), and delivered to KeyBank National Association, as Agent, pursuant to §5.5 of that
certain First Amended and Restated Credit Agreement dated as of December 17, 2014, as from time to time in effect (the “Credit Agreement”), by and among Carter Validus Operating Partnership II, LP (the “Borrower”), KeyBank
National Association, for itself and as Agent, and the other Lenders from time to time party thereto. Terms used but not defined in this Joinder Agreement shall have the meanings defined for those terms in the Credit Agreement. 

RECITALS 
 A. Each
Joining Party is required, pursuant to §5.5 of the Credit Agreement, to become an additional Subsidiary Guarantor under the Guaranty, the Indemnity Agreement and the Contribution Agreement. 

B. Each Joining Party expects to realize direct and indirect benefits as a result of the availability to the Borrower of the credit facilities
under the Credit Agreement. 
 NOW, THEREFORE, Joining Party agrees as follows: 

AGREEMENT 
 1.
Joinder. By this Joinder Agreement, each Joining Party hereby becomes a “Subsidiary Guarantor” and a “Guarantor” under the Credit Agreement, the Guaranty, the Indemnity Agreement and the other Loan Documents with respect
to all the Obligations of the Borrower now or hereafter incurred under the Credit Agreement and the other Loan Documents, and a “Subsidiary Guarantor” under the Contribution Agreement. Each Joining Party agrees that such Joining Party is
and shall be bound by, and hereby assumes, all representations, warranties, covenants, terms, conditions, duties and waivers applicable to a “Subsidiary Guarantor” and a “Guarantor” under the Credit Agreement, the Guaranty, the
Indemnity Agreement, the other Loan Documents and the Contribution Agreement. 
 2. Representations and Warranties of Joining
Parties. Each Joining Party represents and warrants to Agent that, as of the Effective Date (as defined below), except as disclosed in writing by such Joining Party to Agent on or prior to the date hereof and approved by the Agent in writing
(which disclosures shall be deemed to amend the Schedules and other disclosures delivered as contemplated in the Credit Agreement), the representations and warranties contained in the Credit Agreement and the other Loan Documents applicable to a
“Guarantor” or “Subsidiary Guarantor” are true and correct in all material respects as applied to each such Joining Party as a Subsidiary Guarantor and a Guarantor on and as of the Effective Date as though made on that date. As
of the Effective Date, all covenants and agreements in the Loan Documents and the Contribution Agreement of the Subsidiary Guarantors apply to the Joining Parties and no Default or Event of Default shall exist or might exist upon the Effective Date
in the event that any of the Joining Parties becomes a Subsidiary Guarantor. 

 3. Joint and Several. Each Joining Party hereby agrees that, as of the Effective Date, the
Guaranty, the Contribution Agreement and the Indemnity Agreement heretofore delivered to the Agent and the Lenders shall be a joint and several obligation of such Joining Party to the same extent as if executed and delivered by such Joining Party,
and upon request by Agent, will promptly become a party to the Guaranty, the Contribution Agreement and the Indemnity Agreement to confirm such obligation. 

4. Further Assurances. Each Joining Party agrees to execute and deliver such other instruments and documents and take such other
action, as the Agent may reasonably request, in connection with the transactions contemplated by this Joinder Agreement. 
 5.
GOVERNING LAW. THIS AGREEMENT SHALL BE DEEMED TO BE A CONTRACTUAL OBLIGATION UNDER, AND SHALL, PURSUANT TO NEW YORK GENERAL OBLIGATIONS LAW SECTION 5-1401, BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF NEW YORK. 
 6. Counterparts. This Joinder Agreement may be executed in any number of counterparts which shall together
constitute but one and the same agreement. 
 7. Effective Date. The effective date (the “Effective Date”) of this Joinder
Agreement is July 22, 2015. 
 [SIGNATURES ON FOLLOWING PAGE] 

  
 2 

 IN WITNESS WHEREOF, Joining Party has executed this Joinder Agreement under seal as of the day
and year first above written. 
  

									
		 	“JOINING PARTY”
		
		 	HCII-15 ENTERPRISE DRIVE, LLC,
		 	HCII-68 CAVALIER BOULEVARD, LLC,
		 	HCII-107 FIRST PARK DRIVE, LLC,
		 	HCII-3590 LUCILLE DRIVE, LLC, and
		 	HCII-237 WILLIAM HOWARD TAFT ROAD, LLC,
		 	each a Delaware limited liability company
			
		 	By:	 	Carter Validus Operating Partnership II, LP, a Delaware limited partnership, its sole member
				
		 		 	By:	 	Carter Validus Mission Critical REIT II, Inc., a Maryland corporation, its General Partner
					
		 		 		 	By:	 	 /s/ John E. Carter

		 		 		 	Name:	 	John E. Carter
		 		 		 	Title:	 	Chief Executive Officer

  

			
	ACKNOWLEDGED:
	
	KEYBANK NATIONAL ASSOCIATION, as Agent
		
	By:	 	 /s/ Kristin Centracchio

	Name:	 	Kristin Centracchio
	Its:	 	Vice President

 [Signature Page to Joinder Agreement]

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