Document:

exv10w5

 

EXHIBIT 10.5

NATURAL HEALTH TRENDS CORP.

NOTICE OF GRANT OF RESTRICTED STOCK

     Notice is hereby given of the following restricted stock grant (the “Award”) of Common Stock
of Natural Health Trends Corp. (the “Corporation”):

	 	 	 
	Award Recipient:

	 	                                      
;                      
	 
	 	 
	Grant Date:

	 	April 21, 2007
	 
	 	 
	Number of Shares:

	 	                    
 shares of Common Stock

			
	Vesting Schedule:	 	One-twelfth of the granted shares will vest quarterly on June 15,
September 15, December 15, and March 15 of each year commencing June 15, 2007.

     The Award Recipient understands and agrees that the Award is granted subject to (i) the terms
of the Natural Health Trends Corp. 2007 Equity Incentive Plan (the “Plan”), and (ii) the Award
Recipient’s acceptance of the Award, signified by the return to the Corporation of this Notice of
Grant reflecting his or her acceptance in writing. Your acceptance must be received by the
Corporation no later than June 1, 2007, or the Award will be deemed rejected. The Award Recipient
further agrees to be bound by the terms of the Plan and the terms of the Restricted Stock Agreement
attached hereto as Exhibit A. The Award Recipient hereby acknowledges receipt of a copy of
the Plan in the form attached hereto as Exhibit B. All capitalized terms in this Notice
shall have the meaning assigned to them in this Notice or in the attached Restricted Stock
Agreement.

     Nothing herein shall modify your status as an at-will employee of the Corporation or the terms
of any employment agreement between you and the Corporation (if applicable). Further, nothing
herein guarantees you employment for any specified period of time. This means that either you or
the Corporation may terminate your employment at any time for any reason, or no reason, subject to
the terms of any employment agreement between you and the Corporation (if applicable). You
recognize that, for instance, you may terminate your employment or the Corporation may terminate
your employment prior to the date on which your restricted stock becomes vested.

     You are responsible for determining the income tax consequences to you with regard to your
receipt of an award of restricted stock in your home country. The Corporation is not responsible
for providing tax advice to its employees with regard to tax consequences, and you are encouraged
to seek competent tax advice before making your decision whether to accept the Award.

 

 

     The Award Recipient elects to ACCEPT the Award.

AWARD RECIPIENT

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     The Award Recipient elects to REJECT the Award.

AWARD RECIPIENT

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sp; 

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EXHIBIT A

RESTRICTED STOCK AGREEMENT

RECITALS

A. The Compensation Committee of the Board has adopted the 2007 Equity Incentive Plan (the “Plan”)
for the purpose of recruiting and retaining the services of selected employees, directors,
officers, agents, consultants, independent contractors and advisors in the service of the
Corporation (or any Parent or Subsidiary).

B. The Award Recipient is to render valuable services to the Corporation (or a Parent or
Subsidiary), and this Agreement is executed pursuant to, and is intended to carry out the purposes
of the Plan in connection with the Corporation’s grant of restricted stock to the Award Recipient .

C. All capitalized terms in this Agreement shall have the meaning assigned to them in the Plan.

NOW, THEREFORE, it is hereby agreed as follows:

1. GRANT OF RESTRICTED STOCK. The Corporation hereby grants to the Award Recipient, as of
the Grant Date, the number of Shares of restricted stock specified in the Grant Notice.

2. RESTRICTIONS ON TRANSFERABILITY. Notwithstanding any provisions of the Plan to the
contrary, no Shares of restricted stock granted hereunder may be sold, assigned, transferred,
pledged or otherwise encumbered unless and until the shares proposed to be sold or transferred are
vested.

3. VESTING; TERMINATION OF EMPLOYMENT. Shares of restricted stock, subject to the other
terms and conditions set forth herein, shall become vested if the Award Recipient remains
continuously employed through each vesting date specified in the Grant Notice. Should the Award
Recipient die or become disabled while holding Shares of restricted stock, then the Shares shall
become 100% vested upon his or her death or Disability. Upon termination of employment for any
other reason, any Shares of restricted stock that have not yet vested shall be forfeited on the
date of termination.

4. CHANGE IN CONTROL TRANSACTION.

(a) In the event of any Change in Control, the Shares of restricted stock not otherwise vested
shall automatically vest in full.

(b) This Agreement shall not in any way affect the right of the Corporation to adjust, reclassify,
reorganize or otherwise change its capital or business structure or to merge, consolidate,
dissolve, liquidate or sell or transfer all or any part of its business or assets.

5. ADJUSTMENT IN SHARES. Should any change be made to the Common Stock by reason of any
stock split, stock dividend, recapitalization, combination of shares, exchange of shares or other
change affecting the outstanding Common Stock as a class without the Corporation’s receipt of
consideration, appropriate adjustments shall be made to the number and/or class of securities
subject to this award in order to reflect such change and thereby preclude a dilution or
enlargement of benefits hereunder.

6. STOCK CERTIFICATES. Any stock certificate(s) representing the Shares of restricted
stock granted hereby will be stamped or otherwise imprinted with a legend with respect to any
applicable restrictions contained herein or in the Plan and otherwise with respect to the sale or
transfer of such shares, and the stock transfer records of the Corporation will reflect stop
transfer instructions with respect to such shares. At the election of the Corporation, any stock
certificates evidencing Shares of restricted stock shall be held by the Corporation for your
benefit until such time as the transfer of such Shares is no longer subject to the restrictions set
out in the Plan and this award agreement.

7. LAWS AND REGULATIONS.

(a) You agree that you are acquiring the Shares of restricted stock for investment purposes and
not with a view to the resale or distribution thereof; that the Corporation may withhold from you
any tax which it believes is required to be withheld with respect to any benefit under the Plan or
this award agreement, and that you will make appropriate arrangements with the Corporation for
satisfaction of any applicable federal, state or local income tax withholding requirements or like
requirements. In the discretion of the Corporation, tax withholding obligations may be satisfied
by withholding Shares otherwise issuable under the Award, or by your delivery of Shares to a broker
specified by the Corporation with instructions to sell the number of Shares necessary to satisfy
all tax withholding requirements. The issuance of the Shares of restricted stock shall be subject
to compliance by the Corporation and the Award Recipient with all applicable requirements of law
relating thereto and with all applicable regulations of any stock exchange (or the Nasdaq Stock
Market, if applicable) on which the Common Stock may be listed for trading at the time of such
exercise and issuance.

 

 

(b) The inability of the Corporation to obtain approval from any regulatory body having authority
deemed by the Corporation to be necessary to the lawful issuance and sale of any Common Stock
pursuant to this award shall relieve the Corporation of any liability with respect to the
non-issuance or sale of the Common Stock as to which such approval shall not have been obtained.
The Corporation, however, shall use its best efforts to obtain all such approvals.

8. SUCCESSORS AND ASSIGNS. The provisions of this Agreement shall inure to the benefit of,
and be binding upon, the Corporation and its successors and assigns and the Award Recipient, and
the legal representatives, heirs and legatees of the Award Recipient ‘s estate.

9. NOTICES. Any notice required to be given or delivered to the Corporation under the
terms of this Agreement shall be in writing and addressed to the Corporation at its principal
corporate offices. Any notice required to be given or delivered to the Award Recipient shall be in
writing and addressed to the Award Recipient at the address indicated on the Corporation’s books
and records. All notices shall be deemed effective upon personal delivery or upon deposit in the
U.S. mail, postage prepaid and properly addressed to the party to be notified.

10. CONSTRUCTION. This Agreement and the award evidenced hereby are made and granted
pursuant to the Plan and are in all respects limited by and subject to the terms of the Plan. All
decisions of the Committee with respect to any question or issue arising under the Plan or this
Agreement shall be conclusive and binding on all persons having an interest in this award.

11. GOVERNING LAW. The interpretation, performance and enforcement of this Agreement shall
be governed by the laws of the state in which the Corporation is incorporated without resort to
that State’s conflict-of-laws rules.

12. STOCKHOLDER APPROVAL. If the Shares covered by this Agreement exceed, as of the Grant
Date, the number of shares of Common Stock which may be issued under the Plan as last approved by
the stockholders, then this award shall be void with respect to such excess shares, unless
stockholder approval of an amendment sufficiently increasing the number of shares of Common Stock
issuable under the Plan is obtained in accordance with the provisions of the Plan.

13. FORFEITURE OF SHARES. If the Award Recipient becomes obligated to return all or a
portion of the Shares of restricted stock to the Corporation due to a forfeiture of such Shares
pursuant to this award agreement, and fails to deliver the certificates representing such Shares in
accordance with the terms of this award agreement, the Corporation may, at its option, in addition
to all other remedies it may have, send to you, to the address listed on the books of the
Corporation, written notice and thereupon shall cancel on its books the certificates representing
the Shares to be returned to the Corporation. Thereupon, all of your rights in and to said Shares
shall terminate. The Corporation shall not be obligated to give notice to any holder of Shares of
restricted stock if such holder does not appear on the stock transfer ledger of the Corporation as
the registered holder of such Shares.

APPENDIX

The following definitions shall be in effect under the Agreement:

A. Agreement shall mean this Restricted Stock Agreement.

B. Board shall mean the Corporation’s Board of Directors.

C. Code shall mean the Internal Revenue Code of 1986, as amended.

D. Common Stock shall mean the Corporation’s common stock.

E. Corporation shall mean Natural Health Trends Corp., a Delaware corporation.

F. Employee shall mean an individual who is in the employ of the Corporation (or any
Parent or Subsidiary), subject to the control and direction of the employer entity as to both the
work to be performed and the manner and method of performance.

G. Grant Date shall mean the date of grant of the option as specified in the Grant Notice.

H. Grant Notice shall mean the Notice of Grant of Restricted Stock accompanying the
Agreement, pursuant to which the Award Recipient has been informed of the basic terms of the award
evidenced hereby.

I. 1934 Act shall mean the Securities Exchange Act of 1934, as amended.

J. The Award Recipient  shall mean the person to whom the restricted stock is granted as
specified in the Grant Notice.

K. Parent shall mean any corporation (other than the

A-2

 

Corporation) in an unbroken chain of corporations ending with the Corporation, provided each
corporation in the unbroken chain (other than the Corporation) owns, at the time of the
determination, stock possessing fifty percent (50%) or more of the total combined voting power of
all classes of stock in one of the other corporations in such chain.

L. Plan shall mean the Corporation’s 2007 Equity Incentive Plan.

M. Service shall mean the Award Recipient’s performance of services for the Corporation
(or any Parent or Subsidiary) in the capacity of an Employee, a non-employee member of the board of
directors or an independent consultant.

O. Subsidiary shall mean any corporation (other than the Corporation) in an unbroken chain
of corporations beginning with the Corporation, provided each corporation (other than the last
corporation) in the unbroken chain owns, at the time of the determination, stock possessing fifty
percent (50%) or more of the total combined voting power of all classes of stock in one of the
other corporations in such chain.

P. Vesting Schedule shall mean the vesting schedule specified in the Grant Notice pursuant
to which the Award Recipient is to vest in the restricted Shares in a series of installments over
his or her period of Service.

A-3exv4w1

 

     

	

Exhibit 4.1

SPECIMEN

	 	 	 
	COMMON STOCK
	 	COMMON STOCK
	 
	PAR VALUE $.01
	 	THIS CERTIFICATE IS TRANSFERABLE

IN CANTON, MA AND JERSEY CITY, NJ

	 	 	 	 	 
	Certificate
 Number

 ZQ 000300
	 	

LSI CORPORATION

INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE
	 	Shares
 **600620******
 ***600620*****
 ****600620****
 *****600620***

	 	 	 	 	 
	THIS CERTIFIES THAT
	 	
	 	CUSIP 502161 10 2
	 
	 	 

	SEE REVERSE FOR CERTAIN DEFINITIONS

	 	 	 	 	 
	IS THE OWNER OF
	 	
	 	 

FULLY PAID AND NONASSESSABLE SHARES OF THE COMMON STOCK, $.01 PAR VALUE, OF

LSI CORPORATION, transferable on the books of the Company by the holder hereof in person or by
duly authorized attorney upon surrender of this certificate properly endorsed. This certificate is
not valid until countersigned and registered by the Transfer Agent and Registrar.

Witness the facsimile signatures of its duly authorized officers.

	 	 	 
	
	 	 
	President & Chief Executive Officer	 	 
	 	 	 
	
	 	 
	Executive Vice President & Chief Financial Officer	 	 

DATED <<MONTH DAY YEAR>>

COUNTERSIGNED AND REGISTERED:

COMPUTERSHARE TRUST COMPANY, N.A.

TRANSFER AGENT AND REGISTRAR,

	 	 	 
	 

	By	 
	 

	 	 
	 

	 	AUTHORIZED SIGNATURE

 

LSI CORPORATION

THE COMPANY IS AUTHORIZED TO ISSUE TWO CLASSES OF SHARES, COMMON STOCK AND PREFERRED STOCK.
THE SHARES OF PREFERRED STOCK MAY BE ISSUED FROM TIME TO TIME IN ONE OR MORE SERIES. THE BOARD
OF DIRECTORS OF THE COMPANY HAS AUTHORITY TO FIX THE NUMBER OF SHARES AND DESIGNATION OF SHARES
OF PREFERRED STOCK AND TO DETERMINE OR ALTER THE RIGHTS, PREFERENCES, PRIVILEGES AND
RESTRICTIONS GRANTED OR IMPOSED UPON ANY UNISSUED SHARES OF PREFERRED STOCK.

A STATEMENT OF THE RIGHTS, PREFERENCES, PRIVILEGES AND RESTRICTIONS GRANTED TO OR IMPOSED UPON
THE RESPECTIVE CLASSES OF SHARES OR SERIES OF SHARES AND UPON THE HOLDERS THEREOF SUBJECT TO
LIMITATIONS PRESCRIBED BY LAW AND AS ESTABLISHED, FROM TIME TO TIME, BY THE CERTIFICATE OF
INCORPORATION OF THE COMPANY, THE NUMBER OF SHARES CONSTITUTING EACH CLASS AND SERIES, AND THE
DESIGNATIONS THEREOF, MAY BE OBTAINED BY THE HOLDER HEREOF UPON REQUEST AND WITHOUT CHARGE FROM
THE TRANSFER AGENT OF THE COMPANY AT ITS OFFICES IN CANTON, MA OR JERSEY CITY, NJ.

THIS CERTIFICATE ALSO EVIDENCES AND ENTITLES THE HOLDER HEREOF TO CERTAIN RIGHTS AS SET FORTH IN
THE AMENDED AND RESTATED PREFERRED SHARES RIGHTS AGREEMENT BETWEEN LSI CORPORATION (FORMERLY
KNOWN AS LSI LOGIC CORPORATION) AND COMPUTERSHARE TRUST COMPANY, N.A. (SUCCESSOR TO BANKBOSTON,
N.A.), AS THE RIGHTS AGENT, DATED AS OF NOVEMBER 20, 1998 AND AS SUBSEQUENTLY AMENDED, (THE
“RIGHTS AGREEMENT”), THE TERMS OF WHICH ARE HEREBY INCORPORATED HEREIN BY REFERENCE AND A COPY
OF WHICH IS ON FILE AT THE PRINCIPAL EXECUTIVE OFFICES OF LSI CORPORATION. UNDER CERTAIN
CIRCUMSTANCES, AS SET FORTH IN THE RIGHTS AGREEMENT, SUCH RIGHTS WILL BE EVIDENCED BY SEPARATE
CERTIFICATES AND WILL NO LONGER BE EVIDENCED BY THIS CERTIFICATE. LSI CORPORATION WILL MAIL TO
THE HOLDER OF THIS CERTIFICATE A COPY OF THE RIGHTS AGREEMENT WITHOUT CHARGE AFTER RECEIPT OF A
WRITTEN REQUEST THEREFOR. UNDER CERTAIN CIRCUMSTANCES SET FORTH IN THE RIGHTS AGREEMENT, RIGHTS
ISSUED TO, OR HELD BY, ANY PERSON WHO IS, WAS OR BECOMES AN ACQUIRING PERSON OR ANY AFFILIATE OR
ASSOCIATE THEREOF (AS SUCH TERMS ARE DEFINED IN THE RIGHTS AGREEMENT), WHETHER CURRENTLY HELD
BY OR ON BEHALF OF SUCH PERSON OR BY ANY SUBSEQUENT HOLDER, MAY BECOME NULL AND VOID.

The following abbreviations, when used in the inscription on the face of this certificate, shall be
construed as though they were written out in full according to applicable laws or regulations:

	 	 	 	 	 	 	 	 	 
	TEN COM

	 	–
	 	as tenants in common
	 	UNIF GIFT MIN ACT-               Custodian

	TEN ENT

	 	–
	 	as tenants by the entireties
	 	                                  (CUST)               (Minor)

	JT TEN

	 	–
	 	as joint tenants with right of survivorship
	 	under Uniform Gifts to Minors Act

	 

	 	 	 	and not as tenants in common
	 	                                                (STATE)

	 

	 	 	 	 	 	UNIF TRF MIN ACT
               Custodian
(until age ____ ).

	 

	 	 	 	 	 	        (CUST)                                  (MINOR)

	 

	 	 	 	 	 	under Uniform
Transfers to Minors Act _____________.

	 

	 	 	 	 	 	                                                            (STATE)

	               Additional abbreviations may also be used though not in the above list.	 	 	 	 

For
Value Received,
                     hereby sell, assign and transfer unto

PLEASE INSERT

SOCIAL SECURITY

OR OTHER IDENTIFYING

NUMBER OF ASSIGNEE

 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE, OF ASSIGNEE)

 

 

	 	 	 
	 

	 	shares
	 

	 	 
	of the common stock represented by the within Certificate, and do hereby irrevocably
constitute and appoint
	 	 
	 
	 	 
	 

	 	Attorney
	 

	 	 
	to transfer the said stock on the books of the within-named Company with full power of
substitution in the premises.
	 	 

	 	 	 	 	 
	Dated:
                                        20    

	 	 

	 	 
	 	 	Signature:
	 
	 	 	 	 
	 

	 	 

	 	 
	 	 	Signature:
	 	 	NOTE: THE SIGNATURE TO THIS ASSIGNMENT
MUST CORRESPOND WITH THE NAME AS
WRITTEN UPON THE FACE OF THE
CERTIFICATE, IN EVERY PARTICULAR,
WITHOUT ALTERATION OR ENLARGEMENT, OR
ANY CHANGE WHATEVER.
	 
	 	 	 	 
	SIGNATURE(S) GUARANTEED:
	 	 	 	 
	THE SIGNATURE(S) SHOULD BE GUARANTEED
	 	 	 	 
	BY AN ELIGIBLE GUARANTOR INSTITUTION
	 	 	 	 
	(Banks, Stockbrokers, Savings and Loan Associations
and Credit Unions) WITH MEMBERSHIP IN AN
APPROVED SIGNATURE GUARANTEE MEDALLION
PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15.

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