Document:

exv4w1

 

Exhibit 4.1

	CUSIP 86768K 10 6

 

 

	THE CERTIFICATE ALSO EVIDENCES AND ENTITLES THE HOLDER HEREOF TO CERTAIN RIGHTS AS
SET FORTH IN A RIGHTS AGREEMENT BETWEEN SUNRISE SENIOR LIVING, INC. (THE “COMPANY”) and
AMERICAN STOCK TRANSFER AND TRUST COMPANY THE “RIGHTS AGENT”) DATED AS OF APRIL 24, 2O06
AS THE SAME MAY BE AMENDED FROM TIME TO TIME (THE “Rights Agreement”), THE TERMS Of
WHICH ARE HEREBY INCORPORATED HEREIN BY REFERENCE AND A COPY OF WHICH IS ON FILE AT THE
PRINCIPAL. EXECUTIVE OFFICES OF THE COMPANY. UNDER CERTAIN CIRCUMSTANCES, AS SET FORTH
IN THE RIGHTS AGREEMENT, SUCH RIGHTS SHALL BE EVIDENCED BY SEPARATE CERTIFICATES AND
SHALL NO LONGER BE EVIDENCED BY THIS CERTIFICATE. THE COMPANY SHALL MAIL TO THE HOLDER
OF THIS CERTIFICATE A COPY OF THE RIGHTS AGREEMENT AS IN EFFECT ON THE DATE OF MAILING
WITHOUT CHARGE AFTER RECEIPT OF A WRITTEN REQUEST THEREFOR. UNDER CERTAIN CIRCUMSTANCES
SET FORTH IN THE RIGHTS AGREEMENT, RIGHTS ISSUED TO, OR HELD BY, ANY PERSON WHO IS. WAS
OR BECOMES AN ACQUIRING PERSON OR ANY AFFILIATE OR ASSOCIATE THEREOF (AS SUCH TERMS ARE
DEFINED IN THE RIGHTS AGREEMENT), WHETHER CURRENTLY HELD BY OR ON BEHALF OF SUCH PERSON
OR BY ANY SUBSEQUENT HOLDER, MAY BECOME NULL AND VOID. SUNRISE SENIOR LIVING, INC. THE
CORPORATION IS AUTHORIZED TO ISSUE MORE THAN ONE CLASS OR SERIES OF STOCK, THE
CORPORATION Will FURNISH WITHOUT CHARGE TO EACH STOCKHOLDER WHO SO REQUESTS A STATEMENT
OF THE POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL OR OTHER
SPECIAL RIGHTS OF EACH CLASS OF STOCK OR SERIES THEREOF AND THE QUALIFICATIONS,
LIMITATIONS OR Restrictions OF SUCH PREFERENCES AND/OR RIGHTS. THE following
abbreviations, when used in the inscription on the face of this certificate, shall be
construed as though they were written out in full according to applicable laws or
regulations: TEN COM —  as tenants in common UNIF GIFT MIN ACT —  Custodian TEN ENT —
as tenants by the ENTIRETIES (Cust) (Minor) JT TEN —  as Joint tenants
with right of under Uniform Gifts to Minors — survivorship and not as tenants in
common ACT (State) Additional abbreviations may also be used though not in the above
list. For value received, hereby sell, assign and transfer unto Please insert
social security or other Identifying number OF assignee (PLEASE print OR TYPEWRITE
NAME AND address, INCLUDING ZIP code OF ASSIGNEE) shares of the capital stock
represented by the within Certificate, and do hereby irrevocably constitute and appoint
Attorney to transfer the said stock on the books of the within named Corporation with
full power of substitution In the premises. Dated Notice: THE Signature to this
assignment must correspond with The name as written upon the face Of the
certificate iN EVERy particular, WITHOUT ALTERATION OR ENLARGEMENT OR any CHANgE
WHATEVER. Signature(S) GUARANTEED: The SIGNATURE(s) SHOULD BE GUARANTEED BY
AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS
AND CREDlT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM),
PURSUANT TO S.E.C. RULE 17Ad-15. KEEP THIS CERTIFICATE IN A SAFE PLACE. IF IT IS LOST,
STOLEN, MUTILATED OR DESTROYED, THE CORPORATION WILL REQUIRE A BOND OF INDEMNITY AS A
CONDITION TO THE ISSUANCE OF A REPLACEMENT CERTIFICATE.exv10w14

 

Exhibit 10.14

 

 

Vesting:
 

The
Option becomes vested as to
                         of the shares of Stock purchasable pursuant to the Option on each of the first                 anniversaries
on the date of grant of the Option (the “Anniversary Dates”), if Optionee has been employed by the Corporation or a Subsidiary
continuously from the Optionee’s date of grant to such Anniversary Date and so long as continuous
employment has not been interrupted and the Optionee works a minimum of 1,000 hours in the plan
year.

Exercise:
 

You may exercise this Option, in whole or in part, to purchase a whole number of vested shares at
any time (but not less than 100 shares unless the number of shares purchased is the total number
available for purchase under the Option), by following the exercise procedures set up by the
Company. All exercises must take place before the last Date to Exercise, or such earlier date
following your death, disability or your ceasing to be an employee as described below under
“Employment Requirements.” The number of shares you may purchase as of any date cannot exceed the
total number of shares vested by that date, less any shares you have previously acquired by
exercising this Option. No option granted to a person who is required to file reports under
Section 16(a) of the Securities Exchange Act of 1934 (as now in effect or hereafter amended)
shall be exercisable during the first six months of the date of grant.

Employment Requirements:
 

If your employment terminates
all further vesting of shares under this grant stops, and all unvested shares are canceled. As set out in Plan, you will have                         months after
your employment ceases to exercise your vested options (unless your employment is terminated for
“Cause’), and in the event of your death or total disability you or your estate
will have a period of                          months to exercise any vested options. Your Option will terminate upon
termination of your employment for “Cause.” Cause means, as
determined by the Board, (i) fraud or theft against the Company or a subsidiary or conviction (no
longer subject to appeal) for a felony offense; (ii) conviction (no longer subject to appeal) for
a criminal offense involving moral turpitude; (iii) compromising trade secrets or other
proprietary information of the Company or a subsidiary; (iv) willful failure or refusal to
perform material assigned duties; or (v) gross or willful misconduct that causes substantial and
material harm to the business and operations of the Company or a subsidiary. If the Plan is
terminated in accordance with Section 16(c) of the Plan, the Option may be exercised , in whole
or in part, during such period occurring before such termination as the Board in its sole
discretion shall determine and designate, and in any event immediately before the occurrence of
such termination, whether or not such Option was otherwise exercisable at the time such
termination occurs.

Taxes and Withholding:
 

This Option shall not constitute an incentive stock option within the meaning of Section 422
of the Internal Revenue Code of 1986, as amended. In the event that the Company determines
that any federal, state, local or foreign tax or withholding payment is required relating to
the exercise or sale of shares arising from this grant, the Company shall have the right to
require such payments from you, or withhold such amounts from other payments due to you from
the Company or any subsidiary.

Right of Repurchase:
 

The Company has the right to repurchase any or all of the shares of Company common stock acquired
pursuant to this Option, at a price equal to the Option Price paid for such shares, (i) if the
holder violates any agreement covering (a) non-competition with the Company or a subsidiary or
(b) non-disclosure of confidential information of the Company or a subsidiary, (ii) if the holder
is terminated for Cause (as defined above) or (iii) if, subsequent to termination of the holder’s
service with the Company or a subsidiary, the Board determines that the holder committed acts or
omissions which would have been the basis for a termination of holder’s service for Cause had
such acts or omissions been discovered prior to termination of holder’s service. A notice of
repurchase shall specify the price and date of closing of such repurchase, which shall be no
later than 30 days from the date the Company exercises such right. In the event any such
repurchase right is exercised, the holder of the Company common stock being repurchased shall be
obligated to sell such stock to the Company.exv10w20

 

Exhibit 10.20

SECOND AMENDMENT

TO THE SUNRISE ASSISTED LIVING, INC.

DEFERRED COMPENSATION PLAN

               WHEREAS, Sunrise Senior Living, Inc. (the “Company”) maintains the Sunrise Senior Living
Executive Deferred Compensation Plan (the “Plan”); and

               WHEREAS, the Company has acquired (or will soon acquire) substantially all of the operating
assets of Fountains Retirement Communities, Inc.; and

               WHEREAS, the Company desires to amend the Plan to (i) document the transfer to the Plan of
certain executive accounts from the Fountains Retirement Communities, Inc. Deferred Compensation
Plan and (ii) make other changes; and

               WHEREAS, the Company has reserved the right in Plan Section 12.1 to amend the Plan at any
time.

               NOW, THEREFORE, the Plan is hereby amended, effective June 30, 2005 (or other date set out
herein), as follows:

               1.     The name “Sunrise Assisted Living” shall, effective May 30, 2003, be replaced with
“Sunrise Senior Living” wherever it appears in the Plan.

               2.     Section 1.4 of the Plan is hereby amended in its entirety, effective January 1, 2005, to
read as follows:

	 	“1.4	 	Compensation: shall mean a Participant’s base salary and such
bonuses (and other compensation items) as may be designated by the Deferred
Compensation Committee in its sole discretion for the Deferral Contribution
Period, before reductions for deferral.”

 

               3.     Section 1.12 of the Plan is hereby amended in its entirety to read as follows:

	 	“1.12	 	Eligible Employee: shall mean Director level and above of the
senior management of the Company (or such other or different group of
management or highly compensated employees as may be designated by the
Deferred Compensation Committee as eligible to participate in the Plan). A
newly Eligible Employee shall be eligible to begin participating in the
Plan as of the first day of the month following the completion of one month
of employment with the Company (or such earlier or later date as may be
established by the Deferred Compensation Committee in its sole discretion
consistent with applicable law).”

               4.     Section 1.16 of the Plan is hereby amended in its entirety to read as follows:

	 	“1.16	 	Participant: shall mean (a) an Eligible Employee who is
participating in the Plan as provided Article 2, (b) a former Eligible
Employee for whom a Deferral Account is being maintained under the Plan or
(c) a non-Eligible Employee for whom a Deferral Account has been
established as the result of an account transfer from a plan of a prior
employer.”

               5.     Section 1.22 of the Plan is hereby amended by the addition of a new sentence at the end
thereof to read as follows:

“The Deferred Compensation Committee may, upon such terms and conditions as it
may establish in its sole discretion, count for vesting purposes the prior
service of a Participant with an acquired company or other company with which
the Company has engaged in a corporate transaction (and their affiliates).”

               6.     Section 3.1 of the Plan is hereby amended in its entirety, effective January 1, 2005, to
read as follows:

	 	“3.1	 	Minimum Account Commitment. Except as otherwise established by
the Deferred Compensation Committee in its sole discretion, there is no
minimum required deferral amount under the Plan.”

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               7.     Section 4.1 of the Plan is hereby amended in its entirety to read as follows:

	 	“4.1	 	Deferral Accounts. A Deferral Account shall be established for
each Participant. The Deferral Account shall be credited with the
applicable portion of the Annual Deferral on or about the date such amounts
would otherwise have been paid to the Participant (but for the
Participant’s deferral election). A Participant’s Deferral Account shall
also be credited with any account balance transferred from either the
Marriott International, Inc. Executive Deferred Compensation Plan or the
Fountains Retirement Communities, Inc. Deferred Compensation Plan for the
Participant as of the date of transfer. Deferral Accounts shall, except as
otherwise provided in the Plan or established by the Deferred Compensation
Committee, be credited with the applicable Crediting Rate beginning on the
date of credit through the Valuation Date coinciding with or last preceding
the date of distribution.”

               8.     Section 5.1 of the Plan is hereby amended in its entirety to read as follows:

	 	“5.1	 	The Company reserves the right from time to time, in its sole
discretion, to credit the Deferral Accounts of such Participants who are
Eligible Employees as it determines in its sole discretion with an
additional or matching contribution credit. The amount of the additional
contribution credit, if any, shall be determined by the Company in its sole
discretion. The amount of the matching contribution credit, if any, shall
be equal to such percentage or amount of Compensation deferred by the
Participant under the Plan for the applicable period, as determined by the
Company in its sole discretion.”

               9.     Article 13 of the Plan is hereby amended by the addition of two new Sections at the end
thereof to read as follows:

	 	“13.11	 	Compliance with Section 409A. This Plan is intended to comply with the
distribution and other applicable requirements of Section 409A of the
Internal Revenue Code. Notwithstanding any other provision of the Plan to
the contrary, the Plan shall, effective January 1, 2005, be interpreted and
applied to comply with Section 409A.”

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	 	13.12	 	Mergers/Account Transfers. Upon the merger of, or the transfer
of accounts from, another plan, the rights of such Participants to theirprior plan accounts shall (except as otherwise provided by the Deferred
Compensation Committee) be determined solely under the terms of this
Plan and they shall have no further right, title or interest under the
prior plan. By participating in, and accepting any benefits under, this
Plan, any Participant to whom this Section 13.12 applies hereby waives
any rights and claims that the Participant may have had at any time
under the prior plan. This waiver shall be binding on all such
Participants and their beneficiaries.”

               10.     The Plan, as amended herein, is hereby ratified and affirmed in all other respects.

               IN WITNESS WHEREOF, Sunrise Senior Living, Inc. has caused this Second Amendment to be
executed by its duly authorized officer, this 1st day of July, 2005.

	 	 	 	 	 
	 	SUNRISE SENIOR LIVING, INC.

 	 
	 	By:  	/s/
Jeffrey Jasnoff
 	 
	 	 	 	 
	 	Title:  	Senior Vice President — Human Resources 	 
	 

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