Document:

EX-10.2

 Exhibit 10.2 

RESTRICTED STOCK AGREEMENT 

PARK HOTELS & RESORTS INC. 

2017 OMNIBUS INCENTIVE PLAN 
 This
Restricted Stock Agreement (this “Agreement”), effective as of February 3, 2017 (the “Grant Date”), is between Park Hotels & Resorts Inc., a Delaware corporation (the “Company”), and
             (the “Participant”). 
 1. Grant of Restricted
Stock. Effective as of the Grant Date, the Company hereby issues and grants              shares of Restricted Stock (the “Shares”) to the Participant, subject to and in
accordance with the terms, conditions and restrictions set forth in the Park Hotels & Resorts Inc. 2017 Omnibus Incentive Plan (as it may be amended, the “Plan”) and this Agreement. Capitalized terms not otherwise defined
herein shall have the same meanings as in the Plan. 
 2. Vesting. One-third of the Shares shall become
vested, and the restrictions on such Shares shall lapse, on each of              ,              and
             (the “Final Vesting Date”), subject to the Participant’s continued employment through the applicable vesting date; provided that if the number of Shares
is not divisible by three, then no fractional Shares shall vest and the installments shall be as equal as possible with the smaller installments vesting first. 

3. Termination of Employment. 

(a)    Except as set forth in Section 3(b) below, in the event that the Participant’s employment with the Company
Group terminates for any reason, any Shares that are not vested as of the effective date of termination (the “Termination Date”) shall be forfeited and all of the Participant’s rights hereunder with respect to such unvested
Shares shall cease as of the Termination Date (unless otherwise provided for by the Committee in accordance with the Plan). 

(b)    If the Participant’s employment with the Company Group is terminated prior to the Final Vesting Date by the
Company Group (i) without Cause, (ii) due to or during the Participant’s Disability or (iii) due to the Participant’s death, then in any such case all of the Shares granted hereunder that are not vested shall become vested
and nonforfeitable as of the Termination Date. 
 4. Dividends; Rights as a Stockholder. The Participant shall be the record owner of
the Shares until or unless such Shares are forfeited pursuant to the terms of this Agreement or the Plan, and as a record owner shall be entitled to all rights of a common stockholder of the Company, including, without limitation, voting rights with
respect to the Shares and the right to receive all dividends or other distributions paid with respect to the Common Stock. 
 5.
Restrictions on Transfer. Prior to the vesting of any Shares, the Participant may not assign, alienate, pledge, attach, sell or otherwise transfer or encumber a Share or the Participant’s right under the Shares, except other than by will or
by the laws of descent and distribution and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Affiliates; provided that the designation of a
beneficiary (if permitted by the Committee) shall not constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance. 

6. No Right to Continued Employment. Neither the Plan nor this Agreement nor the Participant’s receipt of the Shares hereunder
shall impose any obligation on the Company or any Affiliates to continue the employment or engagement of the Participant. Further, the Company or any Affiliates (as applicable) may at any time terminate the employment or engagement of the
Participant, free from any liability or claim under the Plan or this Agreement, except as otherwise expressly provided herein. 

 7. Tax Withholding. The Participant agrees that upon the vesting of, and lapsing of
restrictions on, any Shares, or at any such time as required under applicable law, a number of Shares having a fair market value equal to the minimum applicable amount necessary to satisfy the statutorily required withholding liability in respect of
the Shares, if any (“Withholding Taxes”), shall be automatically delivered to the Company in satisfaction of such Withholding Taxes, except to the extent that the Participant shall have elected to pay such Withholding Taxes to the
Company in cash (by check or wire transfer). The number of Shares to be used for payment shall be calculated using the closing price per share of Common Stock on the New York Stock Exchange (or other principal exchange on which the Common Stock then
trades) on the trading day immediately prior to the date of delivery of the Shares to the Company, and shall be rounded up to the nearest whole Share. 

8. Section 83(b) Election. The Participant may make an election under Code Section 83(b) (a “Section 83(b) Election”)
with respect to the Shares. Any such election must be made within thirty (30) days after the Grant Date. If the Participant elects to make a Section 83(b) Election, the Participant shall provide the Company with a copy of an executed version
and satisfactory evidence of the filing of the executed Section 83(b) Election with the US Internal Revenue Service within ten (10) days of such filing. The Participant agrees to assume full responsibility for ensuring that the Section 83(b)
Election is actually and timely filed with the US Internal Revenue Service and for all tax consequences resulting from the Section 83(b) Election. 

9. Award Subject to Plan. By entering into this Agreement, the Participant agrees and acknowledges that the Participant has received
and read a copy of the Plan. The Shares granted hereunder are subject to the Plan. The terms and provisions of the Plan, as it may be amended from time to time, are hereby incorporated herein by reference. 

10. Severability. Should any provision of this Agreement be held by a court of competent jurisdiction to be unenforceable or invalid
for any reason, the remaining provisions of this Agreement shall not be affected by such holding and shall continue in full force in accordance with their terms. 

11. Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of Delaware
applicable to contracts made and performed wholly within the State of Delaware, without giving effect to the conflict of laws provisions thereof. 

12. Successors in Interest. Any successor to the Company shall have the benefits of the Company under, and be entitled to enforce, this
Agreement. Likewise, the Participant’s legal representative shall have the benefits of the Participant under, and be entitled to enforce, this Agreement. All obligations imposed upon the Participant and all rights granted to the Company under
this Agreement shall be final, binding and conclusive upon the Participant’s heirs, executors, administrators and successors. 

13. Electronic Delivery and Acceptance. The Company may, in its sole discretion, decide to deliver any documents related to
current or future participation in the Plan by electronic means. The Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or
electronic system established and maintained by the Company or a third party designated by the Company. 
 14. Acceptance and Agreement
by the Participant. By accepting the Shares (including through electronic means), the Participant agrees to be bound by the terms, conditions, and restrictions set forth in the Plan, this Agreement, and the Company’s policies, as in effect
from time to time, relating to the Plan. 
 15. Waiver. The Participant acknowledges that a waiver by the Company of breach of
any provision of this Agreement shall not operate or be construed as a waiver of any other provision of this Agreement, or of any subsequent breach by the Participant or any other participant in the Plan. 

  
 2 

 16. Counterparts. This Agreement may be executed in separate counterparts, each of
which is deemed to be an original and all of which taken together constitute one in the same agreement. 
  

			
	PARK HOTELS & RESORTS INC.
		
	By:	 	  

		 	Sean M. Dell’Orto
		 	Executive Vice President, CFO and Treasurer

  

	
	 Acknowledged and Agreed
 as of the date first
written above:

	
	  
 Participant Signature

  
 3Exhibit 10.1

 

Silicon Laboratories Inc.

2017 Bonus Plan

 

Overview

 

Silicon Laboratories Inc. (“Silicon Labs”) is committed to sharing its success with the people who make it possible — the Silicon Labs employees. The purpose of the 2017 Bonus Plan (the “Plan”) is to encourage the Silicon Labs employees to participate in the achievement of the company’s goals and to permit Silicon Labs employees to share in the rewards of our success. The term of this Plan is for the 2017 fiscal year.

 

Eligible Employees

 

To be eligible to participate in the Plan, a person must be a regular full-time or part-time employee of Silicon Labs or one of its wholly-owned subsidiaries and not a participant in any other bonus plan or cash incentive plan (including any sales commission plan) unless participation under the Plan is permitted under the terms of such other plan.

 

Bonus Calculation

 

Bonuses and applicable bonus metrics shall be determined by the Compensation Committee (with respect to executive officers and other members of management designated by the Compensation Committee) or by the CEO of Silicon Labs after consultation with the Senior Vice President of Human Resources (with respect to other Eligible Employees). Bonuses may be made dependent on individual or company performance criteria such as, without limitation, adjusted operating income, earnings per share, revenue, revenue by product area(s), gross margin, gross margin by product area(s) or management-based objectives such as the introduction of new products. Adjustments may be made from time to time at the sole discretion of the Compensation Committee (or its designee) to include or exclude certain items in the calculations. An example of a potential adjustment would be the exclusion of an expense item such as an unusual tax charge.

 

Eligible Earnings

 

Bonuses are paid as a percentage of Eligible Earnings earned by such employee during such quarter. Eligible Earnings include only an employee’s base salary or hourly wages. Eligible Earnings do not include, among other things, “extra months” bonuses or payments, disability pay, bonus payments from a previous bonus period or other payments that are taxable but not considered regular base earnings. For non-exempt employees, overtime pay would be considered Eligible Earnings.

 

Timing of Payments

 

Bonus checks will generally be issued within approximately one month after the end of each quarterly period. Bonus payments are not considered earned by the employee until the payment is received.

 

General Provisions

 

·                  Bonuses are subject to all applicable taxes and other required deductions. Bonus payments are not subject to benefit plan deductions or 401(k) plan contributions.

·                  The Plan will not be available to employees subject to the laws of any jurisdiction which prohibits any provisions of this Plan or in which tax or other business considerations make participation impracticable in the judgment of the Compensation Committee.

·                  The Plan does not constitute a guarantee of employment nor does it restrict Silicon Labs’ rights to terminate employment at any time or for any lawful reason.

 

 

·                  The Plan does not create vested rights of any nature nor does it constitute a contract of employment or a contract of any other kind. The Plan does not create any customary concession or privilege to which there is any entitlement from year-to-year, except to the extent required under applicable law. Nothing in the Plan entitles an employee to any remuneration or benefits not set forth in the Plan nor does it restrict Silicon Labs’ rights to increase or decrease the compensation of any employee, except as otherwise required under applicable law.

·                  The Plan shall not become a part of any employment condition, regular salary, remuneration package, contract or agreement, but shall remain gratuitous in all respects. Bonuses are not to be taken into account for determining severance pay, termination pay, “extra months” bonuses or payments, or any other form of pay or compensation.

·                  The Plan is provided at Silicon Labs’ sole discretion and Silicon Labs may modify or eliminate it at any time, individually or in the aggregate, prospectively or retroactively, without notice or obligation. In addition, there is no obligation to extend or establish a similar plan in subsequent years.

·                  The Plan shall not be pre-funded. Silicon Labs shall not be required to establish any special or separate fund or to make any other segregation of assets to assure the payment of bonuses.

·                  All references to a quarterly period refer to fiscal quarters of Silicon Labs.

·                  This Plan constitutes the entire arrangement regarding the Plan, supersedes any prior oral or written description of the Plan and may not be modified except by a written document that specifically references this Plan and is signed by the Silicon Labs CEO.

·                  Employees who resign or are terminated prior to the actual payment of a bonus shall not receive a bonus.

·                  Eligible employees who begin employment with Silicon Labs after the first day of a fiscal quarter for which a bonus is paid shall be eligible to receive a bonus for such quarter. The bonus will be based on actual Eligible Earnings earned by such employee during such quarter.

·                  Employees who are separated from employment with Silicon Labs due to divestiture, closure, or dissolution of a business are not eligible to receive a bonus.

·                  Independent contractors, consultants, individuals who have entered into an independent contractor or consultant agreement, temporary employees, contract employees and interns are not eligible to participate in the Plan.

·                  The quarterly bonus for an otherwise eligible employee who has died prior to the end of such quarter while employed will be paid to the decedent’s estate.

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