Document:

SMA-EX10.35_2013.12.28 Q4

EXHIBIT 10.35

RESTRICTED STOCK AGREEMENT
EXECUTIVE OFFICER
 
THIS RESTRICTED STOCK AGREEMENT (the “Agreement”) is made on this 13th day of February, 2014 between Symmetry Medical Inc., a Delaware corporation (the “Company”), and _______________ (“Grantee”).
 
WHEREAS, the Grantee is an executive officer of the Company whose continued employment and high achievement have the ability to impact the Company’s performance; and
 
WHEREAS, the grant shares of restricted stock pursuant to the Company’s Amended and Restated 2004 Equity Incentive Plan, as amended from time to time by the Company’s shareholders (the “Plan”) to the Grantee under the terms hereof has been approved by the Company’s Compensation Committee (the “Committee”).
 
NOW, THEREFORE, pursuant to the Plan, the Company hereby grants to Grantee ____________ shares of Common Stock, par value $.0001, (“Common Stock”) of the Company (this grant in whole or in part is collectively referred to herein as the “Restricted Shares”), subject to the terms and conditions of the Plan and this Agreement.  

		
	1)
	Definitions.

		
	(a)
	All capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to them in the Plan.

		
	(b)
	“Peer Group” shall mean:  the companies identified in the Company’s proxy statement as peer group companies.

		
	2)
	Earning Shares; Performance Criteria.  The Restricted Shares shall be earned, in whole or in part, in 2014 based on the extent to which the equally weighted criteria set forth below (the “Performance Criteria”) are met during 2014:

INSERT PERFORMANCE CRITERIA

The total earned may also be modified based on your individual performance against annual objectives, as approved by the Board of Directors in early 2015.  In or around early 2015, after the calculations set forth above are finalized and the Board has approved the amount, if any, of the Restricted Shares that have been earned hereunder, the Grantee shall forfeit any Restricted Shares that were granted hereunder in excess of the amount earned; should the amount earned exceed the Restricted Shares then the Company shall issue to Grantee sufficient additional Restricted Shares to equal the additional value earned, as a percentage of salary, with the number of additional shares to be issued determined based on the closing price on the date of the Board’s determination hereunder.  

Any additional Restricted Shares issued hereunder shall be deemed to be Restricted Shares subject to all other terms and conditions hereof.

		
	3)
	Restrictions on Transfer of Shares. 

		
	(a)
	The Restricted Shares may not be sold, assigned, transferred, conveyed, pledged, exchanged or otherwise encumbered or disposed of (each, a “Transfer”) by the Grantee, except to the Company, unless and until they have become nonforfeitable as provided herein. Any purported encumbrance or disposition in violation of the provisions of this Section 3 shall be void AB INITIO, and the recipient of any Restricted Shares transferred in contravention hereof shall not obtain any rights to or interest in the Restricted Shares.  Notwithstanding the foregoing, Grantee may not Transfer Restricted Shares which have become nonforfeitable as provided in Sections 4 and 5 hereof unless and until the Restricted Shares are registered pursuant to the Securities Act of 1933 (the “Securities Act”), 

are sold under Rule 144 promulgated under the Securities Act or unless the Restricted Shares are not required to be registered under the Securities Act or the Transfer of the Restricted Shares is not subject to Rule 144.
        
		
	(b)
	Any Grantee who is also an Executive Officer of the Company, and who is included in the Summary Compensation Table of the Company’s Proxy Statement for the annual meeting of shareholders immediately preceding the Vesting Date, agrees not to Transfer the Restricted Shares for six (6) months following the Vesting Date.  Any purported Transfer in violation of the provisions of this Section shall be void AB INITIO, and the recipient of any Restricted Shares transferred in contravention hereof shall not obtain any rights to or interest in the Restricted Shares.

		
	(c)
	The Restricted Shares and the Plan and this Agreement are not intended to be, nor shall they be construed as an “incentive plan” or other similar plan as that term is used or otherwise referenced in any Severance Agreement and it is not intended that the Restricted Shares be a component (in whole or in part) of any severance payment or obligation.

 
4.     Vesting of Shares.
 
(a)   Subject to Section 5 hereof, the Restricted Shares, shall vest and become nonforfeitable if the Grantee remains an employee of the Company through December 21, 2016.
  
(b) Notwithstanding the provisions of Section 4(a) above, in connection with a Change in Control, the provisions set forth in Section 13 of the Plan shall govern with respect to the acceleration of the vesting of the Restricted Shares.  
 
5.       Forfeiture of Shares. If the Grantee ceases to be an employee of the Company due to death or Disability during any period of restriction, any non-vested Restricted Shares shall immediately vest and all restrictions on the Restricted Shares shall lapse and certificate(s) representing such Restricted Shares shall be delivered by the Company reasonably promptly thereafter.  If the Grantee ceases to be an employee of the Company for any other reason, any non-vested Restricted Shares shall be forfeited by the Grantee and the certificate(s) representing the non-vested portion of the Restricted Shares so forfeited shall be canceled.
 
6.       Dividend, Voting and Other Rights. Except as otherwise provided in this Agreement, the Grantee shall have all of the rights of a stockholder with respect to the Restricted Shares, including the right to vote the Restricted Shares and receive any dividends that may be paid thereto, provided, however, that any additional Common Stock or other securities that the Grantee may become entitled to receive as a result of his/her ownership of the Restricted Shares pursuant to a stock dividend, stock split, recapitalization, combination of shares, merger, consolidation, separation or reorganization or any other change in the capital structure of the Company shall be subject to the same risk of forfeiture, certificate delivery provisions and restrictions on transfer as the Restricted Shares in respect of which they are issued or transferred and shall become Restricted Shares for the purposes of this Agreement.  Cash dividends declared shall accumulate unpaid and be subject to the same risk of forfeiture, certificate delivery provisions and restrictions on transfer as the forfeitable Restricted Shares as set forth in Sections 4 and 5 until such time as the Restricted Shares vest.  Such dividends are not intended to be subject to IRS Code Section 409A and are intended to meet the short term deferral rule.  Cash dividends will be paid to Grantee at the date of the Restricted Shares’ vesting pursuant to Sections 4 and 5.
 
7.       Retention of Stock Certificate(s) by the Company. The certificate(s) representing the Restricted Shares shall be held in custody by the Company or in book format by its transfer agent until such shares have become nonforfeitable in accordance with Sections 4 and 5.
 
8.      Compliance with Laws. The Company shall make reasonable efforts to comply with all applicable federal and state securities laws, provided, however, notwithstanding any other provision of this Agreement, the Company shall not be obligated to issue or release from restrictions on transfer any Restricted Shares pursuant to this Agreement if such issuance or release would result in a violation of any such law.
 

9.     Withholding Taxes. If the Company shall be required to withhold any federal, state, local or foreign tax in connection with any issuance or vesting of Restricted Shares pursuant to this Agreement, the Grantee shall provide the Company with full and complete payment for any such obligations or estimated obligations, as calculated by Company in its sole discretion.  The Grantee may elect to satisfy all or any part of any such withholding obligation by surrendering to the Company a portion of the Restricted Shares that become nonforfeitable hereunder, and the Restricted Shares so surrendered by the Grantee shall be credited against any such withholding obligation at the average of the Fair Market Value of the Restricted Shares over the five trading days immediately preceding the date they are tendered to the Company to satisfy any withholding obligations.  All withholding obligations of the Company’s Grantee Officers shall be satisfied prior to or on the Vesting Date.

10.     Covenants Not To Compete.  In consideration for the Restricted Shares, during Grantee's employment with the Company and for a period of twelve (12) months immediately after the termination of employment, regardless of the reason for that termination, Grantee will not, directly or indirectly, without the prior written consent of the Board of Directors (which consent will not be unreasonably withheld):
		
	(a)
	accept employment with, or perform any services for any Competitor of the Company.  For the purposes of this Section 9(a), the term "Competitor" means a company that manufactures, markets, produces or sells products or services that compete in the marketplace with products or services that the Company provides at the time Grantee's employment ends;

		
	(b)
	accept employment with or perform any services for any of the Company's customers with whom Grantee had contact within the last twelve (12) months of his employment, if doing so would in any way reduce the level of business the customer does with the Company or otherwise adversely affect the Company's business relationship with the customer;

		
	(c)
	accept employment with or perform any services for any Competitor anywhere within the Restricted Geographic Area in the same or similar capacity or function to that in which Grantee worked for the Company or in any other capacity in which Grantee's knowledge of the Company's confidential information or the customer goodwill Grantee helped to develop on behalf of the Company would facilitate or support Grantee's work.  For purposes of this Agreement, the term "Restricted Geographic Area" means (i) each and every State of the United States of America in which the Company is manufacturing or selling any of its products or services at the time Grantee's employment ends; and (ii) each and every country in which the Company is manufacturing or selling any of its products and services at the time Grantee's employment ends.  However, if the Competitor has separate divisions, business units or segments, some of which are not competitive with the business of the Company, nothing herein shall prohibit Grantee from being employed by or working for only that segment of the business that is not competitive with the business of the Company, provided Grantee's work does not involve any products or services that compete with the Company's products and services;

		
	(d)
	urge, induce or seek to induce any of the Company's customers to reduce or terminate their business with the Company or in any manner interfere with the Company's business relationships with its customers;

		
	(e)
	urge, induce or seek to induce any of the Company's customers with whom Grantee had contact during the last twelve (12) months of his employment with the Company, to reduce or terminate their business with the Company or in any manner interfere with the Company's business relationships with its customers;

		
	(f)
	acquire or maintain an ownership interest in any Competitor, except passive ownership of up to two percent (2%) of any publicly traded securities;

		
	(g)
	either on his own account or for any other person, firm or company solicit, hire, employ or attempt to solicit, hire or employ, or endeavor to cause any employee of the Company to leave his employment, or to induce or attempt to induce any such employee to breach any employment agreement with the Company.

		
	(h)
	urge, induce or seek to induce any of the Company's independent contractors, subcontractors, consultants, vendors or suppliers to reduce, terminate or modify in any way their relationship with the Company;

		
	(i)
	disparage the Company, its directors, officers, employees, products, facilities or other persons or things associated with the Company or otherwise publish or communicate any information or opinions that would reasonably be considered to be derogatory or critical of the Company, its Directors, officers, employees, products, facilities or other persons or things associated with the Company.   

11.  Conformity with Plan. This Agreement and the Restricted Shares granted pursuant hereto are intended to conform in all respects with, and are subject to all applicable provisions of, the Plan (which is incorporated herein by 

reference).  Inconsistencies between this Agreement and the Plan shall be resolved in accordance with the terms of the Plan.  By executing this Agreement, Grantee acknowledges and agrees to be bound by all of the terms of this Agreement and the Plan.  The Plan is administered by the Committee, and determinations and interpretations of the Committee on all matters relating to the Plan and this Agreement, shall be in compliance with the Plan and shall be conclusive and binding on the Grantee and the Company.
 
12.  Amendments. The provisions of this Agreement may be amended and waived only with the prior written consent of the Company, Committee and the Grantee.
 
13.  Severability. In the event that one or more of the provisions of this Agreement shall be invalidated for any reason by a court of competent jurisdiction, any provision so invalidated shall be deemed to be separable from the other provisions hereof, and the remaining provisions hereof shall continue to be valid and fully enforceable.
 
14.  Successors and Assigns. The provisions of this Agreement shall inure to the benefit of, and be binding upon, the successors, administrators, heirs, legal representatives and assigns of the Grantee and the successors and assigns of the Company.
 
15.  Notices. Any notice to the Company provided for herein shall be in writing to the attention of the Secretary of the Company at Symmetry Medical Inc., 3724 N. State Road 15, Warsaw, Indiana 46582, and any notice to the Grantee shall be addressed to the Grantee at the address currently on file with the Company.  Except as otherwise provided herein, any written notice shall be deemed to be duly given if and when hand delivered, or five business days after having been mailed by United States registered or certified mail, return receipt requested, postage prepaid, or three business days after having been sent by a nationally recognized overnight courier service, addressed as aforesaid. Any party may change the address to which notices are to be given hereunder by written notice to the other party as herein specified, except that notices of changes of address shall be effective only upon receipt.
 
16. Governing Law. The laws of the State of Indiana, without giving effect to the principles of conflict of laws thereof, shall govern the interpretation, performance and enforcement of this Agreement.  The parties hereby submit to the exclusive venue in and jurisdiction of the state or federal courts located in Ft. Wayne, Indiana over any dispute related to this Agreement.
 
IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first set forth above.
 
 
	
				
	 
	SYMMETRY MEDICAL INC.

	 
	 

	 
	By:
	 
	 

	 
	David C. Milne, SVP of Human Resources, General Counsel & Corporate Secretary

	 
	 

	ACKNOWLEDGED AND AGREED:EX10.32_ATMI_Amendment10

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

	
	
	Amendment No. 10 to Wets Workflow Purchase Agreement and Dry Workflow Purchase Agreement
                                                                                                                                                                                                                                                                                                                                                                                                    

Amendment Number 10
to the Wets Workflow Purchase Agreement and Dry Workflow Purchase Agreement
Advanced Technology Materials, Inc. and Intermolecular

Advanced Technology Materials, Inc., with a principal place of business at 7 Commerce Drive, Danbury, CT 06810 (“ATMI”), and Intermolecular, Inc., with a principal place of business at 3011 North First Street, San Jose, California 95134 (“IMI”) entered into an Alliance Agreement effective Nov. 20, 2006, (“Alliance Agreement”), a Wets Workflow Purchase Agreement effective July 13, 2007 (the “Wets Agreement”) and  a Dry Workflow Purchase Agreement effective December 16, 2008 (the “Dry Agreement”) (hereinafter collectively referred to as the “Original Agreements”).  

 WHEREAS, the Original Agreements, either individually or in combination, were subsequently
amended by an Addendum   effective Dec. 21, 2007     (“Amendment Number 1”), and
amended by an Amendment effective Dec. 16, 2008     (“Amendment Number 2”), and 
amended by a Supplement   effective Mar. 16, 2009     (“Amendment Number 3”), and
amended by a Modification  effective Aug. 27, 2010     (“Amendment Number 4”), and 
amended by an amendment effective Mar.   3, 2011         (“Amendment Number 5”), and
amended by an amendment effective Oct. 27, 2011         (“Amendment Number 6”), and
amended by an amendment effective Oct. 27, 2011          (“Amendment Number 7”), and
 amended by an amendment effective Dec. 31, 2012        (“Amendment Number 8”), and
amended by an amendment effective Mar. 22, 2013        (“Amendment Number 9”).

(the Original Agreements as modified by the Amendments Numbered 1 through 9 hereinafter collectively referred to as the “Tools Agreement”)

WHEREAS ATMI has certain tools installed and operational at various ATMI locations;

WHEREAS ATMI and IMI wish to modify the terms of the Tools Agreement;

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, ATMI and IMI agree to modify the terms of the Tools Agreement by this amendment (hereinafter “Amendment 10”) as set forth below.

		
	1.
	DEFINITIONS

		
	1.1
	Capitalized Terms   All capitalized terms not defined herein shall have the meanings given them in the Original Agreements, as applicable.

		
	1.2
	Amendment 10 Period means the period beginning on January 1, 2014 and ending on December 31, 2014.

		
	2.
	EFFECTIVE DATE

This Amendment 10 shall have an effective date of January 1, 2014.
		
	3.
	FEES FOR LICENSES TO THE TOOLS

		
	3.1
	For the F-20 tool located in Taiwan, in exchange for a payment of [***], IMI hereby grants and ATMI hereby accepts a license under IMI’s rights in the F-20 tool in accordance with the terms of the Wets Agreement.  

		
	3.2
	For the F-20 tool located in Connecticut, in exchange for a payment of [***], IMI hereby grants and ATMI hereby accepts a license under IMI’s rights in the F-20 tool in accordance with the terms of the Wets Agreement.  All the licenses granted to ATMI above shall be non-exclusive and shall be valid for the Amendment 10 Period. 

    
	
			
	Page 1 of 4
	Confidential Information
	Friday, December 20, 2013

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

	
	
	Amendment No. 10 to Wets Workflow Purchase Agreement and Dry Workflow Purchase Agreement
                                                                                                                                                                                                                                                                                                                                                                                                    

		
	3.3
	No later than Dec. 31, 2013, ATMI shall issue a non-cancellable purchase order for the aforementioned licenses.

		
	3.4
	For the avoidance of doubt, ATMI shall not have any license to use the F-10 tool located in Connecticut, the F-20 tool located in Japan, the AP-30 tool located in San Jose, CA and the F-30 tools located in Taiwan and Connecticut.

		
	4.
	PRE-EXISTING LICENSES AND MAINTENANCE

		
	4.1
	Nothing in this Amendment 10 modifies the rights and obligations of each party with respect to the licenses and associated fees for the S-80 tool (Informatics), the F-20 tool and the P-30 tool located in Korea as well as the HPC Site License for all locations as provided in Section 3.1 of Amendment Number 7.  For the avoidance of doubt, in accordance with Section 3.1 of Amendment 7, the following amounts are due and payable no later than December 15, 2013 - 

a.    Informatics        [***]
b.    F20            [***]
c.    P30            [***]
d.    HPC Site License    [***]

		
	5.
	MAINTENANCE FEES

		
	5.1
	Except for IMI’s obligation to provide maintenance and support for the Informatics and F 20 tool in Korea, IMI has no obligation and is not responsible for the maintenance or support of any ATMI tools.

		
	5.2
	For any maintenance or support services required by ATMI, IM shall quote and ATMI shall pay separately for such services.  

		
	6.
	ROYALTY PAYMENTS

		
	6.1
	In addition to the payments above, ATMI shall continue to owe volume-based Royalties to IMI on the sale of Products as such terms are defined in Section 6.1 of the Wets Agreement and Section 6.1 of the Dry Agreement (“Terms”).

		
	6.2       
	Notwithstanding the Terms, for the Amendment 10 Period, ATMI shall make a quarterly minimum Royalties payment of [***] U.S. Dollars, the “Quarterly Minimum Payment”) no later than the fifteenth day of the last month of each quarter.   If the Quarterly Minimum Payment exceeds the volume-based royalties which would otherwise be owed to IMI by ATMI based on actual ATMI revenues (as reported to IMI by ATMI pursuant to Section 5.5 of the Alliance Agreement, Section 6.4 of the Wets Agreement and Section 6.4 of the Dry Agreement (the “ATMI Quarterly Reports”)), then the difference will be credited to the next quarterly payment that is in excess of the Quarterly Minimum Payment.  ATMI agrees to provide the ATMI Quarterly Reports to IMI on a timely basis, but at no time later than thirty (30) days after the end of each quarter.   In addition, ATMI shall provide at the time of providing the ATMI Quarterly Reports a non-binding forecast for the Royalties expected to be paid by ATMI per quarter for the remainder of the Amendment 10 Period.   If the payments owed by ATMI as part of the volume-based Royalties on the sale of Products during a quarter exceed the Minimum Amount for such quarter, ATMI shall make the remaining excess payments no later than the fifteenth day of the last month of the following quarter.

		
	7.
	REMOVE RESTRICTIONS ON IMI AND CERTAIN ATMI RIGHTS

		
	7.1
	Sections 4.1 (Services Restrictions on IMI), 4.2 (Workflow Restrictions on IMI), 4.3 (Preferred Material Supplier) of Amendment No. 1 (and any modifications of these sections in subsequent amendments) are deleted in their entirety.

    
	
			
	Page 2 of 4
	Confidential Information
	Friday, December 20, 2013

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

	
	
	Amendment No. 10 to Wets Workflow Purchase Agreement and Dry Workflow Purchase Agreement
                                                                                                                                                                                                                                                                                                                                                                                                    

		
	7.2
	The list of Strategic Accounts is deleted in its entirety.

		
	7.3
	The list of Strategic Fields is deleted in its entirety.

		
	7.4
	Section 4.13.2 of Wets Workflow Agreement is deleted in its entirety.

		
	8.
	REMOVAL OF AP-30 TOOL LOCATED IN SAN JOSE; STORAGE FEES 

		
	8.1
	ATMI agrees to remove the AP-30 tool (the “AP-30 Tool”) located in IMI’s San Jose, California facilities (the “Facilities”) by no later than January 31, 2014.  ATMI shall be responsible for the costs of removing the AP-30 tool, and IMI shall provide ATMI with reasonable assistance and access to the Facilities to facilitate ATMI’s removal of the AP-30 Tool.  If the AP-30 Tool is not removed from the Facilities by January 31, 2014, ATMI agrees to pay IMI a daily storage of [***] per day for each day the AP-30 Tool remains in the Facilities.  

		
	9.
	MISCELLANEOUS

This Amendment shall be deemed to be incorporated into the Tools Agreement and made a part thereof.  All references to the Tools Agreement in any other document shall be deemed to refer to the Tools Agreement as modified by this Amendment.   Except as modified by this Amendment, all of the terms and conditions of the Tools Agreement shall remain in full force and effect.   In the event that the terms of this Amendment conflict with the terms of the Tools Agreement, the terms of this Amendment shall control. 

    
	
			
	Page 3 of 4
	Confidential Information
	Friday, December 20, 2013

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

	
	
	Amendment No. 10 to Wets Workflow Purchase Agreement and Dry Workflow Purchase Agreement
                                                                                                                                                                                                                                                                                                                                                                                                    

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the Effective Date.

Intermolecular, Inc.            Advanced Technology Materials, Inc.     

By: /s/David E. Lazovsky            By: /s/Douglas Neugold    

Name: David E. Lazovsky            Name: Douglas Neugold    

Title: President and CEO            Title: Chairman, CEO & President     

Date: December 30, 2013            Date: December 20, 2013    

    
	
			
	Page 4 of 4
	Confidential Information
	Friday, December 20, 2013

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00227-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00227-of-00352.parquet"}]]