Document:

Form of 2003 Plan Restricted Unit Award Agreement

 Exhibit 10.5 
 2003 EQUITY INCENTIVE PLAN 
 RESTRICTED UNIT AWARD AGREEMENT

 PERFORMANCE-VESTING RESTRICTED UNITS 
 This Restricted Unit Award Agreement (the “Agreement”), is entered into as of «Grant Date» (the “Grant Date”), by and between AnnTaylor Stores Corporation, a
Delaware corporation (the “Company”), and «Name», an employee of the Company or a Subsidiary Corporation (the “Grantee”). 
 Pursuant to the AnnTaylor Stores Corporation 2003 Equity Incentive Plan, as amended (the “Plan”), the Compensation Committee of the Board of Directors of the Company (the “Committee”)
or its designee has determined that the Grantee shall be granted performance-vesting Restricted Units (“RUs) upon the terms and subject to the conditions hereinafter contained. Capitalized terms used but not defined herein shall have the
meanings assigned to them in the Plan. 
 1. Number of Units and Settlement. The Grantee is hereby granted
«Units» RUs, subject to the restrictions set forth herein. Each RU granted hereunder represents the right to receive [one share of the Company’s Common Stock] [the cash equivalent thereof] on the Settlement Date (as defined
hereunder), upon the terms and subject to the conditions (including the vesting conditions) set forth in this Agreement and the Plan. The date upon [which shares are to be issued] [the amount of cash to be paid is calculated and paid hereunder] in
settlement of the RUs is referred to as the “Settlement Date”. The Settlement Date shall occur on each date set forth under Section 4 that the restrictions on transfer set forth in Section 2(a) shall lapse. 

2. Terms of Restricted Units. The grant of RUs provided in Section 1 hereof shall be subject to the following terms,
conditions and restrictions: 
 (a) The RUs, and any interest therein, may not be sold, assigned, transferred,
pledged, hypothecated or otherwise disposed of, except by will or the laws of descent and distribution, prior to the lapse of restrictions set forth in the Plan and this Agreement applicable thereto. 

(b) Notwithstanding any other provision of this Agreement, in no event shall any outstanding restrictions lapse prior to
the satisfaction by the Grantee of the liabilities described in Section 7 hereof. 
 (c) The Committee may,
in its discretion, cancel all or any part of any outstanding restrictions prior to the expiration of the periods provided in Section 4 hereof. 

 3. Rights as a Stockholder. [Since the RUs granted hereunder shall be settled
in shares of the Company’s Common Stock, the Grantee shall possess all incidents of ownership as to such shares that are transferred to the Grantee in respect of the settlement of the Restricted Unit Award, including the right to receive or
reinvest dividends with respect to such shares (to the extent declared by the Company) and the right to vote such shares. Such incidents of ownership shall commence on each such respective Settlement Date, and only with respect to such shares that
are transferred to the Grantee on such Settlement Date.] [Since the RUs granted hereunder shall be settled in cash, the Grantee shall not possess any incidents of ownership in shares of the Company’s Common Stock with respect to this Restricted
Unit Award.] 
 4. Lapse of Restrictions. Except as may otherwise be provided herein, the restrictions on transfer
set forth in Section 2(a) shall lapse: 
  

	 	(a)	with respect to [number of units] (            ) performance–vesting RUs, on
[date], as set forth in Schedule A attached ([with a minimum of [            ] and a maximum of
[            ]% of such performance-vesting RUs]) based on the achievement by the Company of the corresponding performance metric levels for the [include period of
time] set forth in Schedule A; provided that the Compensation Committee certifies that, during this vesting period, the appropriate targets for each of such [include period of time], as set forth in Schedule A, have been
achieved; 

  

	 	(b)	with respect to [number of units] (            ) performance–vesting RUs, on
[date], as set forth in Schedule A attached ([with a minimum of [            ] and a maximum of
[            ]% of such performance-vesting RUs]) based on the achievement by the Company of the corresponding performance metric levels for the [include period of
time] set forth in Schedule A; provided that the Compensation Committee certifies that, during this vesting period, the appropriate targets for each of such [include period of time], as set forth in Schedule A, have been
achieved; 

  

	 	(c)	with respect to [number of units] (            ) performance–vesting RUs, on
[date], as set forth in Schedule A attached ([with a minimum of [            ] and a maximum of
[            ]% of such performance-vesting RUs]) based on the achievement by the Company of the corresponding performance metric levels for the [include period of
time] set forth in Schedule A; provided that the Compensation Committee certifies that, during this vesting period, the appropriate targets for each of such [include period of time], as set forth in Schedule A, have been
achieved; 

 With respect to each of the vestings as provided in subsections 4(a), (b) and (c) above, if the
restrictions on transfer for the respective vesting period do not lapse because the applicable target(s) have not been achieved, then all or a portion, as the case may be, of the performance-vesting RUs attributable to such subsection shall be
immediately forfeited by the Grantee. 
 In the event that the RUs are to be settled in shares pursuant to Section 1 of
this Agreement, upon each lapse of restrictions relating to the RUs, and provided that the Grantee shall have complied with the Grantee’s obligations under Section 7 hereof, the Company shall issue to the Grantee or the Grantee’s
personal representative a stock certificate representing one share of Common Stock, free of any restrictive legend, in exchange for each RU with respect to which such restrictions have lapsed. If the RUs are to be settled in cash pursuant to
Section 1 of this Agreement, the Company shall make payment to the Grantee or the Grantee’s personal representative of the cash equivalent of the Fair Market Value on the Settlement Date of one share of Common Stock in exchange for each
RU. 

  
 2 

 5. Effect of Certain Changes. Upon the occurrence of an Acceleration Event,
all restrictions then outstanding with respect to the RUs shall automatically expire and be of no further force and effect, and full payment in respect of the RUs granted hereunder shall be made as soon as practicable thereafter, but only if
permissible under Section 409A of the Internal Revenue Code; if such settlement is not permissible under Section 409A, then settlement shall occur in accordance with the other terms of this Agreement. 

6. Termination of Employment. In the event that the Grantee ceases to be employed by the Company or any of its divisions or
Subsidiary Corporations, for any reason, prior to the end of the Restricted Period, all RUs with respect to which the restrictions set forth in Section 4 hereof shall not yet have lapsed (taking into account Sections 2 and 5) shall thereupon be
automatically forfeited by the Grantee. 
 7. Taxes. The Grantee shall pay to the Company promptly upon request,
and in any event at the time the Grantee recognizes taxable income in respect of the RUs, an amount equal to the taxes the Company determines it is required to withhold under applicable tax laws with respect to the settlement of the RUs. Such
payment shall be made in the form of cash, shares of Common Stock already owned or otherwise issuable upon the lapse of restrictions, or in a combination of such methods, subject to the terms of the Plan. 

8. No Guarantee of Employment. Nothing set forth herein or in the Plan shall (i) confer upon the Grantee any right of
continued employment for any period by the Company or any of its divisions or Subsidiary Corporations, (ii) entitle the Grantee to remuneration or benefits not set forth in the Plan, or (iii) interfere with or limit in any way the right of
the Company or any such division or Subsidiary Corporation to terminate such Grantee’s employment. 
 9.
Notices. Any notice required or permitted under this Agreement shall be in writing and deemed given when (i) delivered personally, (ii) mailed by United States certified or registered mail, return receipt requested, postage
prepaid, or (iii) delivered by overnight courier service. Such notices shall be sent to the Grantee at the last address specified in the Company’s records (or such other address as the Grantee may designate in writing to the Company), or
to the Company at the following address (or such other address as the Company may designate in writing to the Grantee): 

AnnTaylor 
 7 Times Square, 15th Floor 
 New York, NY 10036 

Attn: Corporate Secretary 

  
 3 

 10. Failure To Enforce Not a Waiver. The failure of the Company to enforce at
any time any provision of this Agreement shall in no way be construed to be a waiver of such provision or of any other provision hereof. 
 11. Governing Law. This Agreement shall be governed by and construed according to the laws of the State of New York, without regard to the conflicts of laws provisions thereof. 

12. Incorporation of Plan. A copy of the Plan is attached hereto and incorporated herein by reference and made a part of
this Agreement. This Agreement and the RUs shall be subject to the terms of the Plan, as it may be amended from time to time, provided that such amendment of the Plan is made in accordance with Section 11 of the Plan. 

13. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be an original but all of
which together shall represent one and the same agreement. 
  

									
	ANNTAYLOR STORES CORPORATION	 		 	GRANTEE:
				
	By:	 	 	 		 	 
		 	Name:	 		 	«Name»
		 	Title:	 		 	
		 		 		 	 
		 		 		 	Date

  
 4 

 Schedule A 
 Performance Metrics and Percentages of Performance RU’s to Vest for [insert 
 performance period] 
  

					
	 (a)

Performance Metric:
 [insert metric] as of the
 end of [insert
time period]
	  	 (b)

% Shares to Vest
	  	 (c)

Shares to vest on [insert date]
 based on [insert time period]
 Results in Column
(a)

	 TBD
	  	TBD	  	0
	 TBD
	  	TBD	  	TBD
	 TBD
	  	TBD	  	TBD
	 TBD
	  	TBD	  	TBDFORM OF PERFORMANCE-BASED NON-STATUATORY STOCK OPTION AGREEMENT

 Exhibit 10.4.3 
 CENTRAL GARDEN & PET COMPANY 
 2003 OMNIBUS EQUITY INCENTIVE PLAN

 PERFORMANCE-BASED 
 NONQUALIFIED STOCK OPTION AGREEMENT 
 1. Grant of Option. Central
Garden & Pet Company (the “Company”) hereby grants to                      (the “Employee”) under
the Central Garden & Pet Company 2003 Omnibus Equity Incentive Plan (the “Plan”), as a separate incentive in connection with his or her employment and not in lieu of any salary or other compensation for his or her services, a
nonqualified stock option to purchase, on the terms and subject to the fulfillment of the performance, vesting and other conditions set forth in this Agreement and the Plan, all or any part of an aggregate of
         shares of authorized shares of the Class A Common Stock, at the purchase price set forth in paragraph 2 of this Agreement. The option granted hereby is not intended to be an
Incentive Stock Option within the meaning of section 422 of the Internal Revenue Code of 1986, as amended. 
 2. Exercise
Price. The purchase price per share (the “Option Price”) shall be $        , which is the fair market value per share of the Class A Common Stock. The effective date of this Agreement
shall be             , 201  . The Option Price shall be payable in shares of the Class A Common Stock of the Company or, in the discretion of the Committee, in
the legal tender of the United States or in a combination of such legal tender and such shares. 
 3. Number of Shares.
The number and class of shares specified in paragraph 1 above, and/or the Option Price, are subject to appropriate adjustment in the event of changes in the capital stock of the Company by reason of stock dividends, split-ups or combinations of
shares, reclassifications, mergers, consolidations, reorganizations or liquidations. Subject to any required action of the stockholders of the Company, if the Company shall be the surviving corporation in any merger or consolidation, the option
granted hereunder (to the extent that it is still outstanding) shall pertain to and apply to the securities to which a holder of the same number of shares of Class A Common Stock that are then subject to the option would have been entitled. To
the extent that the foregoing adjustments relate to stock or securities of the Company, such adjustments shall be made by the Committee, whose determination in that respect shall be final, binding and conclusive. 

4. Commencement of Exercisability. Subject to the fulfillment of the performance conditions set forth on Schedule A to this
Agreement, the shares granted under this Option Agreement are exercisable as follows: 
  

	 	•	 	     % of total number shares shall vest on
            , 201  ; 

  

	 	•	 	     % of total number shares shall vest on
            , 201  ; 

  

	 	•	 	     % of total number shares shall vest on
            , 201  ; 

  

	 	•	 	     % of total number shares shall vest on
            , 201  ; and 

  

	 	•	 	     % shares shall vest on             ,
201  . 

 5. Termination of Option. In the event of termination of employment with the Company
and all Affiliates for any reason other than death, the Employee may, within one (1) month after the date of such termination or             , 201  , whichever
shall first occur, exercise the option to the extent the right to exercise the option had accrued as of the date of such termination. If the Employee’s termination of employment is on account of his or her death, or if the Employee shall die
within such one (1) month period, the option may be exercised by the Employee’s transferee, as hereinafter provided, to the same extent that the right to exercise the option had accrued immediately prior to the Employee’s death, for a
period of two (2) months after the date of the Employee’s death. 
 6. Persons Eligible to Exercise. The option
shall be exercisable during the Employee’s lifetime only by the Employee. The option shall be non-transferable by the Employee other than by a beneficiary designation made in a form and manner acceptable to the Committee, or by will or the
applicable laws of descent and distribution. 
 7. After the Death of Employee. To the extent exercisable after the
Employee’s death, the option shall be exercised only by the Employee’s designated beneficiary or beneficiaries as set forth in the Employee’s life insurance enrollment, or if no beneficiary survives the Employee, by the person or
persons entitled to the option under the Employee’s will, or if the Employee shall fail to make testamentary disposition of the option, his or her legal representative. A transferee exercising the option must furnish the Company
(a) written notice of his or her status as transferee, (b) evidence satisfactory to the Company to establish the validity of the transfer of the option and compliance with any laws or regulations pertaining to said transfer, and
(c) written acceptance of the terms and conditions of the option as prescribed in this Agreement. 
 8. Exercise of
Option. The option may be exercised by the person then entitled to do so as to any shares which may then be purchased (a) by giving written notice of exercise to the Company, specifying the number of full shares to be purchased and
(b) if requested by the Company, by confirming in writing that the shares to be purchased upon the option exercise are being acquired for investment and not with a view to distribute them. 

The Option Price upon exercise of any option shall be payable by having the Company withhold shares of Class A Common Stock having a
value equal to the amount required to be withheld or by delivering to the Company already-owned shares to satisfy the Option Price, pursuant to such procedures as the Company may specify from time to time. The Company, in its sole discretion, also
may permit (a) the Employee to pay the Option Price in full in cash, or (b) by any other means which the Company, in its sole discretion, determines to both provide legal consideration for the shares, and to be consistent with the purposes
of the Plan. The value of the shares to be withheld or delivered will be based on their Fair Market Value on the date of exercise. 
 9. Suspension of Exercisability. If at any time the Company shall determine, in its discretion, that the listing, registration or qualification of the shares covered by the option upon any
securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory authority, is necessary or desirable as a condition of the purchase of shares hereunder, the option may not be exercised, in whole or in
part, unless and until such listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Company. The Company shall make reasonable efforts to meet the requirements of
any such state or federal law or securities exchange and to obtain any such consent or approval of any such governmental authority. 

 10. No Rights of Stockholder. Neither the Employee nor any person claiming under or
through said Employee shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the shares issuable upon the exercise of the option, unless and until certificates representing such shares shall have been
issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to Employee. 
 11. Option
has No Effect on Employment. The terms of Employee’s employment shall be determined from time to time by the Company, or the Subsidiary employing the Employee, as the case may be, and the Company, or the Subsidiary employing the Employee,
as the case may be, shall have the right, which is hereby expressly reserved, to terminate or change the terms of the employment of the Employee at any time for any reason whatsoever, with or without good cause. 

12. Addresses for Notices. Any notice to be given to the Company under the terms of this Agreement shall be addressed to the
Company, in care of its Chief Financial Officer, 1340 Treat Blvd., Suite 600, Walnut Creek, CA 94597, or at such other address as the Company may hereafter designate in writing. Any notice to be given to the Employee shall be addressed to the
Employee address set forth beneath the Employee’s signature hereto, or at such other address as the Employee may hereafter designate in writing. Any such notice shall be deemed to have been duly given if and when enclosed in a properly sealed
envelope, addressed as aforesaid, registered or certified and deposited, postage and registry fee prepaid, in a United States post office. 
 13. Non-Transferability of Option. Except as otherwise herein provided, the option herein granted and the rights and privileges conferred hereby shall not be transferred, assigned, pledged or
hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to sale under execution, attachment or similar process. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of said option, or of
any right or privilege conferred hereby, contrary to the provisions hereof, or upon any attempted sale under any execution, attachment or similar process upon the rights and privileges conferred hereby, said option and the rights and privileges
conferred hereby shall immediately become null and void. 
 14. Maximum Term of Option. Notwithstanding any other
provision of this Agreement, this option is not exercisable after             , 201  .  

15. Binding Agreement. Subject to the limitation on the transferability of the option contained herein, this Agreement shall be
binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto. 
 16. Plan Governs. This Agreement is subject to all terms and provisions of the Plan. In the event of a conflict between one or more provisions of the Agreement and one or more provision of the
Plan, the provisions of the Plan shall govern. Terms used in this Agreement that are not defined in this Agreement shall have the meaning set forth in the Plan. 
 17. Committee Authority. The Committee shall have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as
are consistent therewith and to interpret or revoke any such rules. All actions taken and all interpretations and determinations made by the Committee in good faith shall be final and binding upon Employee, the Company and all other interested
persons. No member of the Committee shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or this Agreement. 
 18. Captions. Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of this Agreement. 

 19. Agreement Severable. In the event that any provision in this Agreement shall be
held invalid or unenforceable, such provision shall be severable from, and such invalidity or unenforceability shall not be construed to have any effect on, the remaining provisions of the Agreement. 

IN WITNESS WHEREOF, the parties have executed this Agreement, in duplicate, effective as of the day and year specified in paragraph 2 of this Agreement.

  

			
	CENTRAL GARDEN AND PET COMPANY
		
	By	 	  

  

	
	  

	Employee Signature
	
	  

	Date
	
	  

	
	  

	Address
	
	  

	Social Security Number

 SCHEDULE A 
             , 201   
 Vesting Schedule - Corporate Performance 
 If at the end of a fiscal
year, any of A, B or C below is achieved,              percent (    %) of the shares subject to this Option Agreement shall vest and become exercisable on
            
    th following such fiscal
year, provided that you have not had a Termination of Employment (as defined in the 2003 Omnibus Equity Incentive Plan) prior to such date: 
  

	 	A.	Adjusted EBIT is greater than the target floor and Net Controllable Assets is less than the target ceiling; or 

 

	 	B.	Adjusted EBIT is greater than the target floor by an amount which exceeds twenty percent (20%) of the amount by which Net Controllable Assets are above the target
ceiling; or 

  

	 	C.	Adjusted EBIT is below the target floor by an amount that is less than twenty percent (20%) of the amount by which Net Controllable Assets are below the target
ceiling. 

 Performance and vested shares shall be determined separately pursuant to the tables below for Company, Pet Segment,
and Garden Segment. 
 In addition, if any of the shares do not vest on any particular vesting date because the Company, Pet
Segment, and / or Garden Segment performance has not been achieved, such shares will vest and become exercisable if at the end of the following fiscal year, the Cumulative Target for that later fiscal year has been achieved. Any such shares shall
vest and become exercisable on                  th following the fiscal year pursuant to which it is determined that such shares shall vest, provided that you have not
had a Termination of Employment prior to such date. 
              shares
based on performance of the Company as follows: 
              shares
based on performance of Pet Segment as follows: 
              shares
based on performance of Garden Segment as follows: 

 Calculations will be based on the following definitions: 

Adjusted EBIT = earnings before interest and taxes as determined pursuant to U.S. GAAP and adjusted for acquisitions and
divestitures, non-operating income or expense and other adjustments that are determined by the Compensation Committee of the Board of Directors (the “Committee”), in its sole and absolute discretion, to be necessary to remove extraordinary
items which were not contemplated at the time of grant. 
 Cumulative Target = the total aggregate Adjusted EBIT Target
Floors and the total aggregate Net Controllable Assets Ceilings for the current fiscal year of performance and all prior fiscal years of performance (beginning with 201__) satisfies A, B or C above. 

Net Controllable Assets = the average of the following for the fiscal year of performance: total current assets (excluding cash
and marketable securities) plus net fixed assets less total current liabilities (excluding notes payable and current portion of long term debt). 
 The Committee shall have the sole and absolute discretion and authority to determine whether and the extent to which the performance goals have been achieved by the relevant deadline dates, including, but
not limited to, the sole and absolute discretion to make all accounting determinations and interpretations of adjustments for the determination of the results. The Committee’s decision will be final and binding on employee and employee’s
heirs, beneficiaries, assigns or other related parties.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00181-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00181-of-00352.parquet"}]]