Document:

Exhibit 10.1

 

	
 
    	
[U.S.   — Performance]
    

 

Tangoe, Inc.

 

Memorandum

 

	
TO:
    	
                      (the   “Participant”)
    
	
 
    	
 
    
	
FROM:
    	
[Name],   General Counsel
    
	
 
    	
 
    
	
SUBJECT:
    	
Restricted   Stock Unit Agreement
    
	
 
    	
 
    
	
DATE:
    	
 
    	
 
    

 

You have been granted, under the 2011 Stock Incentive Plan (the “Plan”), an award of Restricted Stock Units (“RSUs”) (the RSUs are collectively referred to as the “Award”).  Attached to this Memorandum is an Agreement which, along with the Plan, governs your Award. You will be receiving separately a copy of the Prospectus for the Plan.  The Prospectus contains important information regarding the Plan, including information regarding restrictions on your rights with respect to the RSUs granted to you.  You should read the Prospectus carefully.

 

An Award of RSUs does not give you rights as a shareholder of the Company and you may not transfer or assign any rights in your RSUs.  Please note that as your Award vests, the Company may in its discretion withhold from the number of shares that would otherwise be delivered to you a number of shares of Company Stock having a value equal to your tax withholding obligations (similar to payroll withholding requirements), and otherwise you shall be required to fund such withholding requirements.

 

Finally, by accepting this Award you are agreeing to abide by the terms of the Plan, and the attached Agreement.  To accept this Award, you must agree to the terms set forth in this Agreement by signing and dating the Memorandum and returning it to [Name] in the Legal Department in [office] by[date].

 

	
Date   of Grant:
    	
 
    	
 
    
	
 
    	
 
    
	
Number   of RSUs:
    	
                        ,   subject to the terms of Schedule I   to the Agreement.
    
	
 
    	
 
    
	
Vesting:
    	
Provided   that the performance goals set forth in Schedule I   to the Agreement attached to this Memorandum have been satisfied, the RSUs   will vest with respect to the number of RSUs determined as provided in Schedule I as follows:   [Insert Time-Based Vesting Terms]
    

 

 

USE THE SPACE BELOW TO ACCEPT THIS AWARD:

 

I have read and agree to the terms set forth in the Award Agreement. I accept the Award of RSUs described in this Memorandum:

 

 

	
 
    	
 
    	
 
    
	
 
    	
Signature of Participant
    	
 
    	
Date
    
	
 
    	
 
    	
 
    
	
[Name] (the “Participant”)
    	
 
    	
 
    
				

 

 

[U.S. — Performance]

 

Tangoe, Inc.

2011 Stock Incentive Plan

 

RESTRICTED STOCK UNIT AWARD AGREEMENT

 

THIS AWARD AGREEMENT (“Agreement”), dated as of                       ,         , is entered into by and between Tangoe, Inc., a Delaware corporation (the “Company”), and the Participant named on the attached Memorandum, dated                         ,          (the “Memorandum”) pursuant to the terms and conditions of the 2011 Stock Incentive Plan (the “Plan”).

 

WHEREAS, the Company has the authority under and pursuant to the Plan to grant awards to eligible employees of the Company and its subsidiaries; and

 

WHEREAS, the Company desires to grant the Award to the Participant subject to the terms and conditions of the Plan, and this Agreement.

 

In consideration of the provisions contained in this Agreement, the Company and the Participant agree as follows:

 

1.             The Plan.  The Award granted to the Participant hereunder is made pursuant to the Plan.  A copy of the Plan and the Prospectus for the Plan has been provided to the Participant and the applicable terms of such Plan are hereby incorporated herein by reference.  Terms used in this Agreement which are not defined in this Agreement shall have the meanings used or defined in the Plan.  The Award (including the Restricted Stock Units (also referred to as “RSUs”) subject to the Award) is subject to the provisions of the Plan (including the provisions relating to amendments to the Plan).

 

2.             Award.   Concurrently with the execution of this Agreement, and subject to the terms and conditions set forth in the Plan and this Agreement, the Company hereby grants the number of Restricted Stock Units indicated in the Memorandum to the Participant.  Each Restricted Stock Unit entitles the Participant to one share of Company Stock, subject to continued employment and satisfaction of the performance goals set forth in Schedule I to this Agreement, upon vesting.

 

3.             Vesting of Units.

 

(a)           Upon the vesting of the Award, as described in this Section, the Company shall deliver for each Restricted Stock Unit that becomes vested, one (1) share of Company Stock; provided, however, that the Company may in its discretion withhold from the Participant at the time of delivery of the Company Stock a number of shares of Company Stock having a fair market value equal to the amount that the Company determines necessary to pay applicable minimum withholding taxes as and to the extent provided in Paragraph 8 below.  The Company Stock shall be delivered as soon as practicable following each vesting date or event set forth below, but in any case within 30 days after such date or event.

 

(b)           Subject to Paragraph 4, [Insert time-based vesting terms], provided that and subject to the condition that the performance goals set forth in Schedule I to this Agreement

 

 

have been satisfied, and in each case so long as the Participant remains employed with the Company through each such vesting date.

 

4.             Termination of Employment.  Notwithstanding any other provision of the Plan to the contrary, upon the termination of the Participant’s employment with the Company and its subsidiaries for any reason whatsoever, the Award, to the extent not yet vested, shall immediately and automatically terminate; provided, however, that the Committee may, in its sole and absolute discretion agree to accelerate the vesting of the Award, upon termination of employment or otherwise, for any reason or no reason, but shall have no obligation to do so.  For purposes of the Plan and the Award, a termination of employment shall be deemed to have occurred on the date upon which the Participant ceases to perform active employment duties for the Company following the provision of any notification of termination or resignation from employment, and without regard to any period of notice of termination of employment (whether expressed or implied) or any period of severance or salary continuation.  Notwithstanding any other provision of the Plan, the Award, this Agreement or any other agreement (written or oral) to the contrary, the Participant shall not be entitled (and by accepting an Award, hereby irrevocably waives any such entitlement) to any payment or other benefit to compensate the Participant for the loss of any rights under the Plan as a result of the termination or expiration of an Award in connection with any termination of employment.  No amounts earned pursuant to the Plan or any Award shall be deemed to be eligible compensation in respect of any other plan of the Company or any of its subsidiaries.  The Participant hereby waives all and any rights to compensation or damages in consequence of the termination of Participant’s office or employment with the Company or any applicable subsidiary for any reasons whatsoever (whether lawful or unlawful and including, without prejudice to the generality of the foregoing, in circumstances giving rise to a claim for wrongful dismissal) insofar as those rights arise or may arise from his ceasing to have rights under or being entitled to the vesting of the Award as a result of such termination, or from the loss or diminution in value of such rights or entitlements.

 

5.             No Assignment.  Except as expressly permitted under the Plan, neither the Restricted Stock Units, nor this Agreement, nor any rights under this Agreement or the Plan may be sold, assigned, transferred, pledged or otherwise encumbered by the Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and any purported sale, assignment, transfer, pledge or other encumbrance in violation of such restriction shall be null and void.

 

6.             No Rights to Continued Employment.

 

(a)           The grant of Awards under the Plan is made at the discretion of the Company and the Plan may be suspended or terminated by the Company at any time.  The grant of an Award in one year or at one time does not in any way entitle the Participant to an Award grant in the future.  The Plan is wholly discretionary and is not to be considered part of the Participant’s normal or expected compensation subject to severance, resignation, redundancy or similar compensation.  The value of the Award is an extraordinary item of compensation which is outside the scope of the Participant’s employment contract (if any).

 

(b)           Neither this Agreement nor the Award shall be construed as giving the Participant any right to continue in the employ of the Company or any of its subsidiaries, or shall interfere in any way with the right of the Company to terminate such employment.

 

 

7.             Governing Law.  This Agreement and the legal relations between the parties shall be governed by and construed in accordance with the internal laws of the State of Delaware, without effect to the conflicts of laws principles thereof.

 

8.             Tax Obligations.

 

(a)           As a condition to the granting of the Award and the vesting thereof, the Participant acknowledges and agrees that he/she is responsible for the payment of income and employment taxes (and any other taxes required to be withheld) payable in connection with the vesting of an Award (the “Tax Liabilities”).  Accordingly, the Participant agrees to remit to the Company or any applicable subsidiary an amount sufficient to pay such Tax Liabilities and has provided an indemnity in relation to the same.  Such payment shall be made to the Company or the applicable subsidiary of the Company in a form that is reasonably acceptable to the Company, as the Company may determine in its sole discretion.  Notwithstanding the foregoing, the Company in its discretion may retain and withhold from delivery at the time of vesting that number of shares of Company Stock having a fair market value equal to the Tax Liabilities of the Participant, which retained shares shall fund the payment of such taxes by the Company on behalf of the Participant.  Alternatively, the Company may require the Participant to provide a designated broker with irrevocable instructions directing the designated broker to, on the date of the designated broker’s receipt of any shares of Company Stock in accordance with Section 3, sell in accordance with ordinary principles of best execution that number of such shares of Company Stock as is necessary to yield net proceeds to the Participant equal to the Tax Liabilities of the Participant as a result of the vesting of the Restricted Stock Units and remit such proceeds to the Company in satisfaction of such tax withholding obligations of the Company.

 

(b)           Indemnity.  The Participant hereby indemnifies the Company, and each parent or subsidiary of the Company against all and any Tax Liabilities which arise or may arise in connection with the vesting of the Restricted Stock Units and the Company Stock issued or transferred to the Participant pursuant thereto.

 

9.             Notices.  Any notice required or permitted under this Agreement shall be deemed given when delivered personally, or when deposited in a United States Post Office, postage prepaid, addressed, as appropriate, to the Participant at the last address specified in the Participant’s employment records (or such other address as the Participant may designate in writing to the Company), or to the Company at 35 Executive Boulevard, Orange, Connecticut 06477, or such other address as the Company may designate in writing to the Participant.

 

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.          Amendments.  This Agreement may be amended or modified at any time by an instrument in writing signed by the parties hereto.

 

12.          Authority.  The Committee has complete authority and discretion to determine Awards, and to interpret and construe the terms of the Plan and this Agreement.  The determination of the Committee as to any matter relating to the interpretation or construction of the Plan or this Agreement shall be final, binding and conclusive on all parties.

 

 

13.          Rights as a Stockholder.  The Participant shall have no rights as a stockholder of the Company with respect to any shares of common stock of the Company underlying or relating to any Award until the issuance of a stock certificate to the Participant in respect of such Award.

 

IN WITNESS WHEREOF, this Agreement is effective as of the date first above written.

 

	
 
    	
Tangoe, Inc.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name: [Name]
    
	
 
    	
 
    	
Title: Secretary and General Counsel
    

 

 

Schedule I

Performance Goals

 

The RSUs will become vested as described in this Agreement, subject to the other vesting conditions set forth in this Agreement, in the amount determined as follows:

 

[Insert performance metrics and resulting vesting, including any ability to achieve more than 100% of the number of RSUs set forth in the Agreement for overachievement of the performance metrics.]Exhibit 10.1

 

RESTRICTED SHARES AGREEMENT

 

RESTRICTED SHARES AGREEMENT, dated as of                       , by and between BRT Realty Trust, a Massachusetts business trust, having its principal place of business at 60 Cutter Mill Road, Great Neck, New York  11021 (the “Trust”) and the person named on the signature page of this Agreement (“Holder”).

 

W  I  T  N  E  S  S  E  T  H

 

A.                                    The Board of Trustees of the Trust adopted, and the shareholders of the Trust approved, the BRT Realty Trust 2012 Incentive Plan (the “Plan”), a copy of which is made a part hereof;

 

B.                                    The Holder acknowledges receipt of a copy of the Plan;

 

C.                                    The Compensation Committee of the Board of Trustees (“Committee”) has approved an award of restricted shares of the Trust’s common shares of beneficial interest, $3.00 par value per share (the “Restricted Shares”) to the Holder, all in accordance with the terms and conditions of the Plan and this Agreement; and

 

D.                                    Unless otherwise defined herein, the defined terms used in this Agreement shall have the meanings set forth in the Plan.

 

NOW THEREFORE, in consideration of the foregoing and the mutual promises herein contained, the Trust and the Holder hereby agree as follows:

 

1.                                      Participant.  Holder (a) performs services on behalf of the Trust, either directly or pursuant to a Shared Services Agreement among the Trust, One Liberty Properties, Inc., Gould Investors L.P. and other entities and is deemed an employee of the Trust for all purposes of the Plan and this Agreement, or (b) is a member of the Board of Trustees of the Trust.

 

2.                                      Award.  Holder is hereby awarded the number of Restricted Shares set forth opposite Holder’s name on the signature page hereof.  A stock certificate representing the Restricted Shares will be issued in the name of the Holder as soon as practicable following the execution of this Agreement by both of the parties hereto.

 

3.                                      Stock Certificate. The stock certificate representing the Restricted Shares registered in the name of the Holder shall remain in the custody of the Trust and the Holder shall execute, deliver to and deposit with the Trust a stock power, duly endorsed in blank, so as to permit the retransfer to the Trust of the Restricted Shares if the Restricted Shares shall be forfeited or otherwise do not vest in accordance with the Plan and this Agreement.  The certificate representing the Restricted Shares shall bear the following restrictive legends:

 

“The transferability of this certificate and the shares represented by this certificate are subject to the terms and conditions of the BRT Realty Trust 2012 Incentive Plan and to the terms and conditions of an Agreement entered into between the registered owner of the shares and BRT Realty Trust.”

 

 

4.                                      Vesting of Restricted Shares.

 

(a)                                 Unless the Restricted Shares are forfeited pursuant to this Agreement or the Plan, the Period of Restriction for the Restricted Shares shall terminate upon the earlier of (such date, the “Vesting Date,”) (i) the death, Disability or Retirement of the Holder, (ii)                        and (iii) a Change in Control; provided, however, that notwithstanding anything to the contrary in the Plan, the reincorporation of the Trust into a different jurisdiction and/or into a different form of entity shall not constitute a Change in Control.  On the Vesting Date, (x) the Period of Restriction shall terminate, (y) the Restricted Shares shall vest and be delivered to Holder and (z) Retained Distributions (as defined in Section 5), if any, with respect to the Restricted Shares shall vest and be delivered to Holder.

 

5.                                      Rights During Restriction Period.  During the Period of Restriction, if the Restricted Shares have not been forfeited, Holder will have the right to vote the Restricted Shares, to receive and retain dividends and distributions paid or distributed on the Restricted Shares by the Trust in the ordinary course of its business as a real estate investment trust and to exercise all other rights, powers and privileges of a holder of the Trust’s Beneficial Shares with respect to the Restricted Shares; except that (a) the Holder will not be entitled to delivery of the stock certificate representing the Restricted Shares until the Vesting Date, (b) the Trust will retain custody of the stock certificate until the Vesting Date, (c) other than regular and special distributions paid by the Trust in the ordinary course of its business as a real estate investment trust, the Trust will retain custody of all distributions made or declared with respect to the Restricted Shares (the “Retained Distributions”) until the Vesting Date, and such Retained Distributions shall not vest or bear interest or be segregated in a separate account, (d) the Holder may not sell, assign, transfer, pledge, encumber or dispose of the Restricted Shares or any Retained Distributions or his or her interest in any of them until the Vesting Date, and (e) a breach of any restrictions, terms or conditions provided herein or in the Plan will cause a forfeiture of the Restricted Shares and any Retained Distributions with respect thereto.

 

6.                                      Forfeiture.  In the event that the Holder’s relationship with the Trust as a Trustee, officer, employee or consultant (including the relationship of any employee who is employed by an affiliate of the Trust) shall terminate during the Period of Restriction for any reason other than Holder’s death, Disability, Retirement or a Change in Control, then the Holder’s rights to the Restricted Shares and to any Retained Distributions shall be forfeited immediately, the Trust shall transfer the certificate representing the Restricted Shares to the Trust and the Holder shall not have any rights whatsoever (including the right to receive any dividends and voting rights) with respect to the Restricted Shares and the Retained Distributions.

 

7.                                      Changes in Employment.  If Holder is deemed an employee of the Trust pursuant to Section 1(a) above, the Restricted Shares shall not be affected by any change of Holder’s employment if Holder continues to be an employee of the Trust, its subsidiaries or affiliates.  Nothing contained in the Plan or in this Agreement, and no action of the Trust or the Committee, shall confer or be construed to confer on the Holder any right to continue in the employ of the Trust, its subsidiaries or affiliates.  Nothing contained in the Plan or in this Agreement, and no action of the Trust or Committee, shall interfere in any way with the right of the Trust, its subsidiaries or affiliates to terminate the employment of the Holder at any time, with or without cause, or terminate the relationship of the Trust (or any affiliate) with the Holder at any time, with or without cause.

 

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8.                                      Pledge, Sale Assignment, Etc.  Holder shall not permit the Restricted Shares to be subject to anticipation, alienation, sale, assignment, hypothecation, pledge, exchange, transfer, encumbrance or charge and any attempt to anticipate, alienate, sell, assign, hypothecate, pledge, exchange, transfer, encumber or charge shall be deemed void by the Trust, and the Committee may, at its sole discretion cause the Restricted Shares to be forfeited upon such event.  No right or benefit hereunder shall in any manner be liable for or subject to the debts, contracts, liabilities or torts of the Holder.

 

9.                                      Share Registration.  The Holder acknowledges that the Restricted Shares have been registered under the Securities Act of 1933, as amended, pursuant to a Registration Statement on Form S-8, and that at such time as the Restriction Period has been satisfied or accelerated, the Restricted Shares may not be sold, assigned, transferred, pledged, exchanged, encumbered or disposed of, except pursuant to the Securities Act of 1933 and the rules and regulations thereunder and the rules and regulations of any securities exchange or association on which the Restricted Shares may be listed or quoted.

 

10.                               Board’s Authority.  The adoption of the Plan by the Trust shall not be construed as creating any limitations on the power of its Board of Trustees to adopt such other incentive arrangements as it may deem desirable, including without limitation the granting of stock options and the awarding of stock and cash otherwise then under the Plan and such arrangements may be either generally applicable or applicable only in specific cases.

 

11.                               Incentive Compensation.  By acceptance of the Restricted Shares and the execution of this Agreement, the Holder agrees that the Restricted Shares are special incentive compensation that will not be taken into account, in any manner, as salary, compensation or bonus in determining the amount of any payment under any pension, retirement or other employee benefit plan, program or policy of the Trust or any subsidiary of the Trust.  In addition, each beneficiary of a deceased Holder shall be deemed to have agreed that the Restricted Shares will not effect the amount of any life insurance, if any, provided by the Trust on the life of the Holder which is payable to such beneficiary under any life insurance plan covering employees of the Trust or any subsidiary of the Trust.

 

12.                               No Segregation.  Neither the Trust nor any subsidiary of the Trust shall be required to segregate any cash or Restricted Shares which may at any time be represented by awards under the Plan and the Plan shall constitute an “unfunded” plan of the Trust.  Neither the Trust nor any subsidiary of the Trust shall by any provisions of the Plan be deemed a trustee of any Restricted Shares or any other property, and the liabilities of the Trust and any subsidiary of the Trust to the Holder pursuant to the Plan shall be those of a debtor pursuant to such contract obligations as are created by or pursuant to the Plan and this Agreement and the rights of the Holder or his/her beneficiary under the Plan shall be limited to those of a general creditor of the Trust or the applicable subsidiary of the Trust, as the case may be.

 

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day and year first above written.

 

 

	
BRT   REALTY TRUST
    
	
 
    
	
 
    
	
By:
    	
 
    	
 
    
	
David   W. Kalish
    
	
Senior   Vice President - Finance
    

 

 

	
Name of Holder
    	
 
    	
Number of Restricted Shares 
   Awarded to Holder
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    

 

 

	
 
    	
 
    
	
Signature   of Holder
    
	
 
    
	
 
    	
 
    
	
Holder’s   Address
    
	
 
    
	
 
    	
 
    
	
Holder’s   Social Security
    

 

 

(14/BRT RESTRICTED STOCK AWARD/FINAL 2014 MASTER RSA)

 

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