Document:

Exhibit 10.25

 

FIRST MIDWEST BANCORP, INC.
  CONFIDENTIALITY AND RESTRICTIVE COVENANTS AGREEMENT

 

This Confidentiality and Restrictive Covenants Agreement (this “Agreement”) is made by and among First Midwest Bancorp, Inc. (“FMBI), and its subsidiary First Midwest Bank (the “Bank”), and each of their successors and assigns (collectively, “Employer”), and the undersigned employee (“Employee”).

 

WHEREAS, Employee understands and acknowledges that the Employer has a legitimate business interest in protecting the Employer’s property, confidential information, customer and employee relationships and other protectable interests.

 

WHEREAS, Employee understands and acknowledges that in the course of performing services for the Employer, Employee has had and will continue to have access to and use confidential information, and has provided and will continue to provide services to customers, of Employer.

 

WHEREAS, Employee desires to be eligible to receive cash bonuses or other incentive compensation from Employer and to receive such bonuses or other incentive compensation in future years (any such compensation, “Bonus Compensation”), pursuant to the terms and conditions governing such compensation.

 

WHEREAS, Employee also desires to be eligible to receive equity-based awards under the First Midwest Bancorp, Inc. Omnibus Stock and Incentive Plan (“Incentive Plan”), as may from time to time be awarded in the future (any such awards, “Equity Awards”), pursuant to the terms and conditions of the Incentive Plan, and/or any successor plans.

 

WHEREAS, eligibility to receive Bonus Compensation and/or Equity Awards, and the vesting and payment thereof, are in consideration of and are conditioned upon, among other things, Employee’s agreement to provide to Employer the protective covenants set forth herein and Employee’s compliance therewith.

 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Employee agrees as follows:

 

1.                                      NON-USE OF EMPLOYER’S PROPERTY

 

All notes, reports, plans, published memoranda or other documents (in tangible or electronic form) created, developed, generated or acquired by Employee, or to which Employee otherwise has access to, during the course of employment with the Employer, concerning or related to the Employer’s business, whether containing or relating to Confidential Information (as defined below) or not, and all tangible personal property of the Employer entrusted to Employee or in Employee’s direct or indirect possession or control, are solely the property of the Employer, and will be promptly delivered to the Employer and not thereafter used by Employee upon termination of Employee’s employment for any reason or no reason.

 

 

2.                                      NON-DISCLOSURE OF EMPLOYER’S CONFIDENTIAL INFORMATION

 

2.1                               Confidential Information.  For purposes of this Agreement, “Confidential Information” shall mean any and all trade secrets and other confidential, proprietary and/or non-public information of the Employer, whether in tangible or electronic form, that Employee creates, develops, generates or acquires, or to which Employee otherwise has access to, during the course of employment with the Employer and that the Employer designates or treats as confidential through its policies, practices or procedures.  Confidential Information shall include, but is not limited to, financial information and data; business and marketing plans, practices and strategies; proprietary computer programs and other methods of operation, techniques, systems and processes; intellectual property and other research and development; statistical data and analyses; information concerning the Employer’s planned or pending investment products, acquisitions or divestitures; personnel information, including the identity of officers and employees of the Employer, their responsibilities, competence, abilities and compensation; financial, accounting and similar records of the Employer and/or any fund or account managed by the Employer; current and prospective customer lists and information on customers and prospective customers and their officers and other employees; customer financial statements, investment objectives, the nature of their investment portfolios and contractual agreements with the Employer, and other personal customer information; and other information received by the Employer from third parties in confidence or pursuant to a duty of confidentiality.  Notwithstanding the foregoing, Confidential Information shall not include information which is in or hereafter enters the public domain through no fault of Employee and without breach of any duty of confidentiality; information known to Employee prior to first receipt of or access to such information in the course of employment; or information rightfully received by Employee outside the scope of employment from a third party who does not owe the Employer a duty of confidentiality with respect to such information.

 

2.2                               Disclosure or Use.  Employee acknowledges and understands that the Employer has spent extensive time, effort and resources developing Confidential Information and that, solely as a result of his or her employment with the Employer, Employee has had and will continue to have access to such Confidential Information.  Employee further acknowledges and understands that the Employer has taken reasonable measures to protect and maintain the secrecy of its Confidential Information.  Accordingly, during the term of the Employee’s employment and thereafter, Employee agrees not to use or disclose any Confidential Information except in furtherance of the Employee’s duties for the Employer in the ordinary course of business and to otherwise comply with all policies of the Employer relating to the use and disclosure of Confidential Information.  Upon termination of employment with the Employer for any reason or no reason, Employee shall not, directly or indirectly, disclose, publish, communicate or use on his or her behalf or another’s behalf, any Confidential Information.

 

3.                                      NON-INTERFERENCE WITH EMPLOYER’S CUSTOMERS

 

Employee acknowledges and understands that the Employer has spent extensive time, effort and resources developing and maintaining personal contacts and relationships with customers and that, solely as a result of his or her employment with the Employer, Employee has had and will continue to have direct contact and dealings with, management or supervisory responsibility for, or access to Confidential Information about, such customers.  Therefore,

 

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during the period of Employee’s employment with the Employer and thereafter, without interruption, for the period ending twelve (12) months after the last day of Employee’s employment with the Employer, Employee agrees not to, directly or indirectly, for his or her own account or as an agent, officer, director, owner, partner or consultant of any corporation, firm, partnership, joint venture, syndicate, sole proprietorship or other entity, solicit, call upon, contact, contract with, sell to or perform services for, or attempt to solicit, call upon, contact, contract with, sell to or perform services for, any customers of the Employer for the purpose of providing to such customer services or products of any kind that are offered or provided by the Employer, or to assist any person, business or entity to do so.  For purposes of this provision, the term “customer” means any business, entity or person which is or was a customer of the Employer at any time during the period of Employee’s employment with the Employer and with respect to which the Employee had contact or supervisory responsibility in course of conducting business for the Employer or about whom Employee had access to and used Confidential Information, other than any customer which has ceased to do business with the Employer at least six (6) months prior to the last day of Employee’s employment without any inducement, encouragement or involvement of the Employee.

 

4.                                      NON-SOLICITATION AND NO-HIRE OF EMPLOYER’S EMPLOYEES

 

Employee acknowledges and understands that the Employer has spent extensive time, effort and resources training and maintaining a stable workforce and that, solely as a result of his or her employment with the Employer, Employee has had and will continue to have direct contact and dealings with employees of the Employer.  Therefore, during the period of Employee’s employment with the Employer and thereafter, without interruption, for the period ending twelve (12) months after the last day of Employee’s employment with the Employer, Employee agrees not to, directly or indirectly, for his or her own account or as an agent, officer, director, owner, partner, or consultant of any corporation, form, partnership, joint venture, syndicate, sole proprietorship or other entity: (i) solicit, induce, recruit or encourage, or attempt to solicit, induce, recruit or encourage, any employee of the Employer to leave the employ of the Employer, or to assist any other person, business or entity to do so; or (ii) hire or attempt to hire any employee of the Employer, or assist any other person, business or entity to do so.  For purposes of this provision, the term “employee” means any person who is or was an employee of the Employer during the period of the Employee’s employment with the Employer and with respect to which the Employee had contact or supervisory responsibility in course of conducting business for the Employer or about whom Employee had access to and used Confidential Information related to their performance or advancement potential, other than a former employee who has not been employed by the Employer for a period of at least six (6) months prior to the last day of Employee’s employment without any inducement, encouragement or involvement of the Employee.

 

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5.                                      NON-DISPARAGEMENT OF EMPLOYER

 

Employee acknowledges and understands that the Employer’s good name and its goodwill are extremely valuable and the result of the expenditure of substantial time, effort and resources by the Employer.  Therefore, during the period of Employee’s employment with the Employer and thereafter, without interruption, for the period ending twelve (12) months after the last day of Employee’s employment with the Employer, Employee agrees not to make, or cause to be made, any statement or disclosure that disparages the Employer, or any director, officer or employee of the Employer, or assist any other person, business or entity to do so.

 

6.                                      GENERAL PROVISIONS

 

6.1                               No Inducements Other Than Employment.  In agreeing to the protective covenants set forth herein and compliance therewith, Employee does not rely on any inducements, promises or representations of the Employer, or its officers or directors, other than the terms and conditions specifically set forth in this Agreement.

 

6.2                               Employment Still At-Will; No Guarantee.  Employee acknowledges that he or she is an “at-will” employee of the Employer and nothing set forth herein gives or shall be deemed to give Employee any right to remain in the employ of the Employer.  Employee also acknowledges that, while he or she is eligible to earn compensation, and to receive Equity Awards or Bonus Compensation, the payment of such compensation and/or granting of any such Equity Awards and Bonus Compensation, as the case may be, is subject to the terms and conditions of such Bonus Compensation and/or the Incentive Plan and Equity Awards, and that nothing set forth herein shall be deemed to guarantee to Employee that any specific amount of compensation, Equity Awards or Bonus Compensation will be earned by or made to Employee.

 

6.3                               Employee Has Read And Understands.  Employee acknowledges that the statements herein are true and correct and that he or she has read and understands all of the terms of this Agreement.

 

6.4                               Restrictions Reasonable.  Employee acknowledges and agrees that the restrictions set forth in Sections 1 through 5 of this Agreement are reasonable and necessary for the protection of the Employer’s legitimate business interests, and do not impose any undue economic hardship on Employee or otherwise preclude Employee from gainful employment.

 

6.5                               Equitable Relief.  Employee acknowledges that the Employer will suffer irreparable harm if he or she breaches or threatens to breach this Agreement and that, in the event of his or her actual or threatened breach of this Agreement, the Employer will have no adequate remedy at law.  Accordingly, Employee agrees that, in addition to any other remedies at law or in equity available to the Employer for Employee’s breach or threatened breach of this Agreement, the Employer is entitled to specific performance or injunctive relief against Employee to prevent any such actual or threatened breach without the necessity of posting a bond or other security.

 

6.6                               Period Of Restriction Extended.  In the event of a breach by Employee of any covenant in Section 3, 4 or 5 of this Agreement, the period of restriction set forth in such provision shall be extended by the period of such breach (up to a maximum of twelve (12) additional months).  In addition, in the event of a breach of any of the covenants in Sections 1

 

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through 5 of this Agreement, Employee shall lose all rights under any unvested or unexercised awards under the Incentive Plan.

 

6.7                               Prevailing Party Attorney’s Fees.  Employee agrees that, if he or she breaches or threatens to breach any of the covenants in Sections 1 through 5 of this Agreement and the Employer initiates any legal action against Employee to enforce such covenants and/or to secure damages as a result of any breach of such covenants, the prevailing party shall be entitled to payment and reimbursement from the other for their reasonable attorney’s fees and litigation costs incurred in connection with that action.

 

6.8                               Applicable Law, Venue and Jurisdiction.  The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Illinois without giving effect to the conflict of law principles thereof.  The exclusive venue for any litigation between Employee and the Employer for any dispute arising out of or relating to this Agreement shall be the state court located in Cook County, Illinois, or the federal district court located in Chicago, Illinois, and Employee hereby irrevocably consents to any such court’s exercise of personal jurisdiction over him or her for such purpose.

 

6.9                               Waiver Of Jury.  THE EMPLOYEE AND THE EMPLOYER IRREVOCABLY WAIVE THEIR RIGHTS TO A JURY TRIAL.

 

6.10                        Waiver and Modification.  Except as provided below in Section 6.13 and 6.14, no provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in a writing signed by the parties hereto and, in the case of the Employer, such waiver, modification or discharge has been authorized or approved by the Board of Directors or an authorized officer of Employer.  Any waiver of any breach of any kind or character whatsoever shall not be construed as a continuing waiver of, or consent to, any subsequent breach of this Agreement.

 

6.11                        Headings.  The headings used in this Agreement are for convenience only and are not part of its operative language.  They shall not be used to affect the construction of any provisions hereof.

 

6.12                        Severability.  The provisions of this Agreement are severable and should any provision hereof be void, voidable or unenforceable under applicable law, such void, voidable or unenforceable provision shall not affect or invalidate any other provision of this Agreement, which shall continue to govern the relative rights and duties of the parties hereto as though the void, voidable or unenforceable provision were not a part hereof.

 

6.13                        “Blue Pencil Provision.”  In the event that any provision, or part thereof, shall be declared by a court to exceed the maximum time period or scope that the court deems to be enforceable, then the parties hereto expressly authorize the court to modify such provision, or part thereof, so that it may be enforced to the fullest extent permitted by law.

 

6.14                        Other Agreements.  This Agreement is in addition to and supplements any other written agreements between the parties that contain restrictive covenant obligations.

 

6.15                        Survival and Binding Effect.  The restrictions set forth in Sections 1 through 5 of this Agreement shall survive the termination of this Agreement and the termination of

 

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Employee’s employment with the Employer for any reason or no reason.  This Agreement shall be binding upon and inure to the benefit of the parties hereto, their heirs, personal representatives, successors and assigns.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the undersigned have duly entered into this Agreement as of the later of the date executed by the Employer and by Employee below.

 

 

	
FIRST   MIDWEST BANCORP, INC.
    	
 
    	
EMPLOYEE
    
	
FIRST   MIDWEST BANK
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
Employee Name
    
	
 
    	
 
    	
 
    	
 
    
	
Its:
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Date:    December 14, 2012
    	
 
    	
 
    
	
 
    	
 
    	
Address
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Date:   December 14, 2012
    

 

7Exhibit 10.27

 

DECKERS OUTDOOR CORPORATION
 2006 EQUITY INCENTIVE PLAN
  STOCK UNIT AWARD AGREEMENT

 

Unless otherwise defined herein, capitalized terms shall have the defined meaning set forth in the Deckers Outdoor Corporation 2006 Equity Incentive Plan.

 

1.                                      NOTICE OF STOCK UNIT GRANT

 

You have been granted Stock Units, subject to the terms and conditions of the Plan and this Stock Unit Award Agreement, as follows:

 

	
Name   of Awardee:
    
	
Total Number of Stock   Units Granted:
    
	
Grant   Date:
    
	
Vesting   Schedule:
    
	
Performance   Cycle:
    
	
Performance   Criteria:
    

 

2.                                      AGREEMENT

 

2.1                               Grant of Stock Units.  Pursuant to the terms and conditions set forth in this Stock Unit Award Agreement (including Section 1 above) and the Plan, the Administrator hereby grants to the Awardee named in Section 1, on the Grant Date set forth in Section 1, the number of Stock Units set forth in Section 1.

 

2.2                               Purchase of Stock Units.  No payment of cash is required for the Stock Units.

 

2.3                               Vesting/Delivery of Shares.  The Awardee shall vest on the date or dates specified in the Vesting Schedule (“Vesting Date” or “Vesting Dates”) with respect to the number of Stock Units specified for such Vesting Date (i) if, and to the extent, that the Committee determines that at least the Threshold Performance Criteria has been attained, as set forth in Exhibit A attached hereto, and (ii) if the Awardee has remained in Continuous Service from the Grant Date to the applicable Vesting Date.  Within ten (10) business days following the date on which the Awardee vests in a Stock Unit as set forth herein, the Company shall deliver to the Awardee one Share for each Stock Unit in which the Awardee becomes vested and such Stock Unit shall terminate.

 

 

For purposes of this Agreement, the term “Continuous Service” means (i) Awardee’s employment by either the Company or any parent or subsidiary corporation of the Company, or by a corporation or a parent or subsidiary of a corporation assuming this Agreement or issuing New Incentives, as defined in Section 2.5 below, which is uninterrupted except for vacations, illness (except for permanent disability, as defined in Section 22(e)(3) of the Code), or leaves of absence which are approved in writing by the Company or any of such other employer corporations, if applicable, or (ii) so long as Awardee is engaged as a Consultant or other Service Provider.

 

2.4                               Effect of Termination of Continuous Service before December 15, [Insert Year].  If Awardee’s termination of Continuous Service occurs before December 15, [Insert Year], all Stock Units that have not vested as of such date of termination shall automatically expire; provided, however, that notwithstanding the foregoing sentence, if Awardee’s Continuous Service ceased due to his or her Termination of Service without Cause or pursuant to a Constructive Termination (as such terms are defined in Section 2.5(c) below), and if, and to the extent, that the Committee determines that at least the Threshold Performance Criteria has been attained, as set forth in Section 1 above and Exhibit A attached hereto, then a pro rata portion of the Nonvested Stock Units shall vest effective upon such Termination of Service.  As used herein, a “pro rata portion” shall be determined based upon a fraction, the numerator of which is the number of full months of Awardee’s Continuous Service commencing January 1, [Insert Year], and ending on the effective date of Awardee’s Termination of Service without Cause or Constructive Termination, and the denominator of which is 48 months.  Within ten (10) business days following the later of (i) the effective date of such Termination of Service without Cause or Constructive Termination or (ii) the date of the Committee’s final determination of the achievement of the performance criteria set forth in Exhibit A, the Company shall deliver to the Awardee one share for each Stock Unit in which Awardee becomes vested as described herein and such Stock Unit shall terminate.

 

2.5                               Vesting Upon Change in Control.

 

(a)                                 Notwithstanding Sections 2.3 and 2.4 above, if the Awardee holds Nonvested Stock Units at the time a Change in Control occurs, and either (i) the Change in Control is not approved by a majority of the Continuing Directors (as defined below) or (ii) the acquiring or successor entity (or parent thereof) does not agree to provide for the continuance or assumption of this Agreement or the substitution for this Agreement of a new agreement of comparable value covering shares of a successor corporation (“New Incentives”), if, and to the extent, that the Committee determines that at least the Threshold Performance Criteria has been attained, as set forth in Section 1 above, then all of the Nonvested Stock Units shall become immediately and unconditionally vested, and the restrictions with respect to all of the Nonvested Stock Units shall lapse, effective immediately prior to the consummation of such Change in Control.

 

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(b)                                 Notwithstanding subsection 2.5(a) above, if pursuant to a Change in Control approved by a majority of the Continuing Directors, the acquiring or successor entity (or parent thereof) provides for the continuance or assumption of this Agreement or the substitution for this Agreement of a new agreement of comparable value covering New Incentives, then vesting of the Nonvested Stock Units shall not accelerate in connection with such Change in Control to the extent this Agreement is continued, assumed or substituted for New Incentives; provided, however, if there is a Termination of Service of Awardee without Cause or pursuant to a Constructive Termination (as defined below) within 12 months following such Change in Control, all Nonvested Stock Units or New Incentives shall vest effective upon such termination.

 

(c)                                  For purposes of this Agreement (including Section 2.4 above), the following terms shall have the meanings set forth below:

 

(i)                                     “Cause” means the termination by the Company of Awardee as a Service Provider for any of the following reasons:  (a) the continued, unreasonable refusal or omission by the Awardee to perform any material duties required of him or her by the Company if such duties are consistent with duties customary for the position held with the Company; (b) any material act or omission by the Awardee involving malfeasance or gross negligence in the performance of the Awardee’s duties to, or material deviation from, any of the policies or directives of, the Company; (c) conduct on the part of the Awardee which constitutes the breach of any statutory or common law duty of loyalty to the Company; including the unauthorized disclosure of material confidential information or trade secrets of the Company; or (d) any illegal act by the Awardee which materially and adversely affects the business of the Company or any felony committed by the Awardee, as evidenced by conviction thereof, provided that the Company may suspend the Awardee with pay while any allegation of such illegal or felonious act is investigated.  In the event that the Awardee is a party to an employment agreement or other similar agreement with the Company or any Affiliate that defines a termination on account of “Cause” (or a term having similar meaning), such definition shall apply as the definition of a termination on account of “Cause” for purposes hereof, but only to the extent that such definition provides the Awardee with greater rights.  A termination on account of Cause shall be communicated by written notice to the Awardee, and shall be deemed to occur on the date such notice is delivered to the Grantee.

 

(ii)                                  “Constructive Termination” shall mean a termination of the Awardee as a Service Provider within sixty (60) days following the occurrence of any one or more of the following events without the Awardee’s written consent: (i) any material reduction in position, title, overall responsibilities, level of authority, level of reporting, base compensation, annual incentive compensation opportunity, aggregate employee benefits or (ii) a change of the Awardee’s location of employment by more than fifty (50) miles.    A Constructive Termination shall be communicated by written notice to the Company, and shall be deemed to occur on the date such notice is delivered to the Company, unless the circumstances giving rise to the Constructive Termination are cured within thirty (30) days of such notice.

 

(iii)                               “Continuing Director” means any member of the Board of Directors of the Company who was a member of the Board prior to the adoption of the Plan, and any person who is subsequently elected to the Board if such person is recommended or approved by a majority of the Continuing Directors.

 

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2.6                               Effect of Awardee’s attainment of age 62 and the completion of 5 years of Continuous Service.  Notwithstanding Section 2.3 to the contrary, if, after December 15, [Insert Year], and before December 15, [Insert Year], Awardee both (i) attains age sixty-two (62) and (ii) completes five (5) years of Continuous Service (“Retirement Event”), and if, and to the extent, that the Committee determines that at least the Threshold Performance Criteria has been attained, as set forth in Section 1 above and Exhibit A attached hereto, then, notwithstanding that there is a termination of Continuous Service following the Retirement Event, that number of Nonvested Stock Units determined according to the performance criteria and thresholds set forth in Exhibit A shall vest on the Vesting Dates set forth above, provided that the Awardee continues to comply with any covenants that survive the termination of Continuous Service, including, without limitation, any confidentiality provisions.  In that event, within five (5) business days following any Vesting Date, the Company shall deliver to the Awardee one Share for each  Stock Unit in which the Awardee becomes vested and such Stock Unit shall terminate.

 

2.7                               No Interest in Company Assets.  The Awardee shall have no interest in any fund or specific asset of the Company by reason of the Stock Units.

 

2.8                               No Rights as a Stockholder Before Delivery.  The Awardee shall not have any right, title, or interest in, or be entitled to vote or receive distributions in respect of, or otherwise be considered the owner of, any of the shares of Common Stock covered by the Stock Units.

 

2.9                               Regulatory Compliance.  The issuance of Common Stock pursuant to this Stock Unit Award Agreement shall be subject to full compliance with all applicable requirements of law and the requirements of any stock exchange or interdealer quotation system upon which the Common Stock may be listed or traded.

 

2.10                        Withholding Tax.  The Company’s obligation to deliver any Shares upon vesting of Stock Units shall be subject to the satisfaction of all applicable federal, state, local, and foreign income and employment tax withholding requirements.  The Awardee shall pay to the Company an amount equal to the withholding amount (or the Company may withhold such amount from the Awardee’s salary) in cash.  At the Administrator’s discretion, the Awardee may pay the withholding amount with Shares; provided, however, that payment in Shares shall be limited to the withholding amount calculated using the minimum statutory withholding rates.

 

2.11                        Company “Clawback Policy.”  The Company may develop and implement a policy providing that, in the event the Company is required to prepare an accounting restatement due to material noncompliance with any financial reporting requirements under the securities laws, the Company shall recover a portion of any incentive compensation (including stock grants) based upon erroneous data (a “Clawback Policy”).  Executive agrees and acknowledges that the provision of a Clawback Policy to be adopted by the Company, as the same may be amended from time to time, shall apply to Executive.  The Stock Units granted under this Agreement shall be subject to a Clawback Policy to be adopted by the Company, including, without limitation, the rights of the Company to enforce Executive’s repayment obligation.

 

2.12                        Plan.  This Stock Unit Award Agreement is subject to all provisions of the Plan, receipt of a copy of which is hereby acknowledged by the Awardee.  The Awardee shall accept as binding, conclusive, and final all decisions and interpretations of the Administrator upon any questions arising under the Plan and this Stock Unit Award Agreement.

 

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2.13                        Successors.  This Stock Unit Award Agreement shall inure to the benefit of and be binding upon the parties hereto and their legal representatives, heirs, and permitted successors and assigns.

 

2.14                        Restrictions on Transfer.  The Stock Units may not be sold, assigned, transferred, pledged, or otherwise encumbered, whether voluntarily or involuntarily, by operation of law or otherwise.  No right or benefit under this Agreement shall be subject to transfer, anticipation, alienation, sale, assignment, pledge, encumbrance, or charge, whether voluntary, involuntary, by operation of law or otherwise, and any attempt to transfer, anticipate, alienate, sell, assign, pledge, encumber, or charge the same shall be void.  No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, or torts of the person entitled to such benefits.  Any assignment in violation of this Section 2.13 shall be void.

 

2.15                        Restrictions on Resale.  The Awardee agrees not to sell any Shares that have been issued pursuant to the vested Stock Units at a time when Applicable Laws, Company policies, or an agreement between the Company and its underwriters prohibit a sale.  This restriction shall apply as long as the Awardee is a Service Provider and for such period after the Awardee’s Termination of Service as the Administrator may specify.

 

2.16                        Section 409A.  Notwithstanding anything herein or in the Plan to the contrary, this Stock Unit Award Agreement is intended to comply with the requirements of Section 409A of the Code, and shall be interpreted in a manner consistent with that intention.

 

2.17                        Entire Agreement; Governing Law.  This Stock Unit Award Agreement and the Plan constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and the Awardee with respect to the subject matter hereof, and may not be modified adversely to the Awardee’s interest except by means of a writing signed by the Company and the Awardee.  This Stock Unit Award Agreement is governed by the internal substantive laws, but not the choice of law rules, of Delaware.

 

2.18                        No Guarantee of Continued Service.  This Stock Unit Award Agreement, the transactions contemplated hereunder, and the vesting schedule set forth herein constitute neither an express nor implied promise of continued engagement as a Service Provider for the vesting period, for any period, or at all, and shall not interfere with Awardee’s right or the Company’s right to terminate Awardee’s relationship as a Service Provider at any time, with or without Cause.

 

By the Awardee’s signature and the signature of the Company’s representative below, the Awardee and the Company agree that this Award is granted under and governed by the terms and conditions of this Stock Unit Award Agreement and the Plan.  The Awardee has reviewed this Stock Unit Award Agreement and the Plan in their entirety, has had an opportunity to obtain the advice of counsel before executing this Stock Unit Award Agreement and fully understands all provisions of this Stock Unit Award Agreement and the Plan.  The Awardee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions relating to this Stock Unit Award Agreement and the Plan.

 

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The Awardee further agrees that the Company may deliver by email all documents relating to the Plan or this Award (including prospectuses required by the Securities and Exchange Commission) and all other documents that the Company is required to deliver to its security holders (including annual reports and proxy statements).  The Awardee also agrees that the Company may deliver these documents by posting them on a web site maintained by the Company or by a third party under contract with the Company.

 

 

	
AWARDEE:
    	
DECKERS   OUTDOOR CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    	
By:
    	
 
    
	
Signature
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    	
Its:
    	
 
    
	
Printed   Name
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Date
    
	
Residence   Address
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Date
    	
 
    	
 
    

 

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Exhibit A

 

[Insert Performance Criteria]

 

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