Document:

EXHIBIT 10.14B

 

ALIGN TECHNOLOGY, INC.

 

2005 INCENTIVE PLAN

 

NOTICE OF GRANT OF RESTRICTED STOCK UNITS

(General Form)

 

Unless
otherwise defined herein, the terms defined in the 2005 Incentive Plan (the “Plan”)
will have the same defined meanings in this Notice of Grant of Restricted Stock
Units (the “Notice of Grant”).

 

Participant:

 

Address:

 

You
have been granted the right to receive Restricted Stock Units (referred to in
Section 9 of the Plan as “Performance Units”), subject to the terms and
conditions of the Plan, this Notice of Grant and the Restricted Stock Unit
Agreement attached hereto as Exhibit A (the “Agreement”) as follows:

 

	
  Grant Number

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Date of Grant

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Vesting Commencement
  Date

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Total Number of Restricted
  Stock Units

  	
   

  	
   

  

 

Vesting
Schedule:

 

Twenty-five percent (25%) of the Restricted Stock Units will vest and
be issued to Participant on the one-year anniversary of the Vesting
Commencement Date and as to 1/12th of the remaining Restricted Stock
Units after each three-month period thereafter on the same day of the month as
the Vesting Commencement Date (and if there is no corresponding day, on the
last day of the month), subject to Participant continuing to be a Service
Provider through such dates (the “Performance Period”). In the event Participant
ceases to be a Service Provider for any or no reason before Participant vests
in the right to acquire the Shares to be issued pursuant to the Restricted
Stock Unit, the Restricted Stock Unit and Participant’s right to acquire any
Shares hereunder will immediately terminate.

 

By accepting
this agreement online, you and the Company agree that this award is granted
under and governed by the terms and conditions of the Plan, the Agreement and
the Tax Election, each of which are made a part of this document. You further
agree to accept, acknowledge and execute this Agreement and the Tax Election
online as a condition to receiving any Restricted Stock Units under this Award.

 

Nothing in this Notice or in the attached
Agreement or in the Plan shall confer upon Participant any right to continue in
Service for any period of specific duration or interfere with or otherwise
restrict in any way the rights of the Company (or any Parent or Subsidiary
employing or retaining Participant) or of Participant, which rights are hereby
expressly reserved by each, to terminate Participant’s Service at any time for
any reason, with or without cause.

 

 

EXHIBIT A

 

RESTRICTED STOCK UNIT AGREEMENT

 

1.                                       Grant.  The Company hereby grants to Participant
under the Plan an Award of Restricted Stock Units (referred to in the Plan as
Performance Units), subject to all of the terms and conditions in the Notice of
Grant, this Agreement and the Plan.

 

2.                                       Company’s Obligation to Pay.  Each
Restricted Stock Unit represents a value equal to the Fair Market Value of a Share
on the date it becomes vested. Unless and until the Restricted Stock Units will
have vested in the manner set forth in Sections 3 and 4, Participant will
have no right to payment of any such Restricted Stock Units. Prior to actual
payment of any vested Restricted Stock Units, such Restricted Stock Unit will
represent an unsecured obligation of the Company, payable (if at all) only from
the general assets of the Company.

 

3.                                       Vesting Schedule.  Subject
to Section 4, the Restricted Stock Units awarded by this Agreement will vest in
Participant according to the vesting schedule set forth on the attached Notice
of Grant, subject to Participant continuing to be a Service Provider through
each such date.

 

4.                                       Forfeiture upon Termination of Status as a
Service Provider.  Notwithstanding any contrary provision of this
Agreement, if Participant ceases to be a Service Provider for any or no reason,
the then-unvested Restricted Stock Units awarded by this Agreement will
thereupon be forfeited at no cost to the Company and Participant will have no
further rights thereunder.

 

5.                                       Payment after Vesting.  Any Restricted
Stock Units that vest in accordance with Section 3 will be paid to Participant
(or in the event of Participant’s death, to his or her estate) in whole Shares,
subject to Participant satisfying any applicable tax withholding obligations as
set forth in Section 7.

 

6.                                       Payments
after Death.  Any distribution or
delivery to be made to Participant under this Agreement will, if Participant is
then deceased, be made to Participant’s designated beneficiary, or if no
beneficiary survives Participant, the administrator or executor of Participant’s
estate. Any such transferee must furnish the Company with (a) written
notice of his or her status as transferee, and (b) evidence satisfactory
to the Company to establish the validity of the transfer and compliance with
any laws or regulations pertaining to said transfer.

 

7.                                       Withholding of Taxes.  Participant
is ultimately liable and responsible for all taxes owed in connection with the
Restricted Stock Units, regardless of any action the Company takes with respect
to any tax withholding obligations that arise in connection with the Restricted
Stock Units awarded under this Agreement. Notwithstanding any contrary
provision of this Agreement, no Shares will be issued to Participant, unless Participant
has elected within the six (6) month period following the Date of Grant to
irrevocably elect to sell a sufficient number of such Shares otherwise
deliverable to Participant to satisfy the income, employment and other taxes
that the Company determines must be withheld with respect to such Shares so
issuable. In this respect, Participant must irrevocably elect to sell a
sufficient number of such Shares otherwise deliverable to Participant equal to
the amount required to be withheld on the Nasdaq National Market (or other
nationally recognized stock exchange or national market system on 

 

 

which
Shares may be traded and as approved by the Administrator) through Participant’s
E*Trade account (or other brokerage account permitted by the Administrator). If
Participant fails to make such election, then at the time any applicable Restricted
Stock Units otherwise are scheduled to vest pursuant to Section 3, Participant
will permanently forfeit such Restricted Stock Units to the Company at no cost
to the Company and Participant will have no rights whatsoever to receive any
Shares thereunder.

 

8.                                       Rights as Stockholder.  Neither
Participant nor any person claiming under or through Participant will have any
of the rights or privileges of a stockholder of the Company in respect of any Shares
deliverable hereunder, unless and until certificates representing such Shares
will have been issued, recorded on the records of the Company or its transfer
agents or registrars, and delivered to Participant.

 

9.                                       No Effect on Service.  Participant
acknowledges and agrees that the vesting of the Restricted Stock Units pursuant
to Section 3 hereof is earned only by Participant continuing to be a Service
Provider through the applicable vesting dates (and not through the act of being
hired or acquiring Shares hereunder). Participant further acknowledges and
agrees that this Agreement, the transactions contemplated hereunder and the
vesting schedule set forth herein do not constitute an express or implied
promise of Participant continuing to be a Service Provider for the vesting
period, for any period, or at all, and will not interfere with the Participant’s
right or the right of the Company (or the Affiliate employing or retaining
Participant) to terminate Participant as a Service Provider at any time, with
or without cause.

 

10.                                 Address for Notices.  Any
notice to be given to the Company under the terms of this Agreement will be addressed
to the Company, in care of Stock Administrator at Align Technology, Inc., 881
Martin Avenue, Santa Clara, CA 95050, or at such other address as the Company
may hereafter designate in writing.

 

11.                                 Grant is Not Transferable.  Except
to the limited extent provided in Section 6, this grant and the rights and
privileges conferred hereby will not be transferred, assigned, pledged or
hypothecated in any way (whether by operation of law or otherwise) and will not
be subject to sale under execution, attachment or similar process. Upon any
attempt to transfer, assign, pledge, hypothecate or otherwise dispose of this
grant, or any right or privilege conferred hereby, or upon any attempted sale
under any execution, attachment or similar process, this grant and the rights
and privileges conferred hereby immediately will become null and void.

 

12.                                 Binding Agreement.  Subject
to the limitation on the transferability of this grant contained herein, this
Agreement will be binding upon and inure to the benefit of the heirs, legatees,
legal representatives, successors and assigns of the parties hereto.

 

13.                                 Additional Conditions to Issuance of Stock.  If
at any time the Company will determine, in its discretion, that the listing,
registration or qualification of the Shares 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 to the issuance
of shares to Participant (or his estate), such issuance will not occur unless
and until such listing, registration, qualification, consent or approval will
have been effected or obtained free of any conditions not acceptable to the
Company. Where the Company determines that the delivery of the payment of any
Shares will violate federal securities laws or other applicable laws, the
Company will defer delivery until the earliest date at which the Company
reasonably anticipates 

 

 

that
the delivery of Shares will no longer cause such violation. The Company will
make all 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.

 

14.                                 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 this Agreement and one or more
provisions of the Plan, the provisions of the Plan will govern.

 

15.                                 Administrator Authority.  The
Administrator will 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
(including, but not limited to, the determination of whether or not any Restricted
Stock Units have vested). All actions taken and all interpretations and
determinations made by the Administrator in good faith will be final and
binding upon Participant, the Company and all other interested persons. No
member of the Administrator will be personally liable for any action,
determination or interpretation made in good faith with respect to the Plan or
this Agreement.

 

16.                                 Electronic Delivery.  The
Company may, in its sole discretion, decide to deliver any documents related to
Restricted Stock Units awarded under the Plan or future Restricted Stock Units
that may be awarded under the Plan by electronic means or request Participant’s
consent to participate in the Plan by electronic means. Participant hereby
consents to receive such documents by electronic delivery and agrees to
participate in the Plan through an on-line or electronic system established and
maintained by the Company or another third party designated by the Company.

 

17.                                 Captions.  Captions provided herein are
for convenience only and are not to serve as a basis for interpretation or
construction of this Agreement.

 

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

 

19.                                 Governing Law.  This
Award Agreement shall be governed by the laws of the State of California,
without giving effect to the conflict of law principles thereof. For purposes
of litigating any dispute that arises under this Award of Restricted Stock
Units or this Agreement, the parties hereby submit to and consent to the
jurisdiction of the State of California, and agree
that such litigation shall be conducted in the courts of Santa Clara County,
California, or the federal courts for the United
States for the Northern District of California, and no other courts, where this
Award of Restricted Stock Units is made and/or to be performed.

 

By Participant’s
acceptance of this Agreement online, Participant represents that he or she is
familiar with the terms and provisions of the Plan, and hereby accepts this
Agreement subject to all of the terms and provisions thereof. Participant has
reviewed the Plan and this Agreement in their entirety, has had an opportunity
to obtain the advice of counsel prior to executing this Agreement and fully
understands all provisions of this Agreement. Participant agrees to accept as
binding, conclusive and final all decisions or interpretations of the
Administrator upon any questions arising under the Plan or this Agreement. Participant
further agrees to notify the Company upon any change in the

 

 

residence indicated in the Notice
of Grant of Restricted Stock Units.

 

 

ALIGN TECHNOLOGY, INC.

 

2005 INCENTIVE PLAN

 

NOTICE OF GRANT OF RESTRICTED STOCK UNITS

(Executive Officers)

 

Unless
otherwise defined herein, the terms defined in the 2005 Incentive Plan (the “Plan”)
will have the same defined meanings in this Notice of Grant of Restricted Stock
Units (the “Notice of Grant”).

 

Participant:

 

Address:

 

You
have been granted the right to receive Restricted Stock Units (referred to in
Section 9 of the Plan as “Performance Units”), subject to the terms and
conditions of the Plan, this Notice of Grant and the Restricted Stock Unit
Agreement attached hereto as Exhibit A (the “Agreement”) as follows:

 

	
  Grant Number

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Date of Grant

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Vesting Commencement
  Date

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Total Number of Restricted
  Stock Units

  	
   

  	
   

  

 

Vesting
Schedule:

 

(a) Twenty-five
percent (25%) of the Restricted Stock Units will vest and be issued to
Participant on the one-year anniversary of the Vesting Commencement Date and as
to 1/12th of the remaining Restricted Stock Units after each
three-month period thereafter on the same day of the month as the Vesting
Commencement Date (and if there is no corresponding day, on the last day of the
month), subject to Participant continuing to be a Service Provider through such
dates (the “Performance Period”). Subject to the paragraph (c) and (d) below,
in the event Participant ceases to be a Service Provider for any or no reason
before Participant vests in the right to acquire the Shares to be issued
pursuant to the Restricted Stock Unit, the Restricted Stock Unit and
Participant’s right to acquire any Shares hereunder will immediately terminate.

 

(b) General
Release.  Any other provision of this
Notice of Grant, the Plan or the Agreement notwithstanding, Subsections (c) or
(d) below shall not apply unless the Participant (i) has executed a general
release in a form prescribed by the Company of all known and unknown claims
that he may then have against the Company or persons affiliated with the
Company, and (ii) has agreed not to prosecute any legal action or other
proceeding based upon any of such claims.

 

(c) Termination
Without Cause or Good Reason.  Notwithstanding the paragraph (a) above, if,
during Participant’s employment by the Company, and not in connection with a 

 

 

Change
of Control (as defined in the employment agreement between the Company and
Participant (the “Employment Agreement”) and as addressed in paragraph (c)
below), the Company terminates Participant’s employment without “Cause” or
Participant resigns for “Good Reason” (as each such term is defined in the
Employment Agreement), then Participant shall immediately vest in an additional
number of shares underlying the Restricted Stock Units awarded pursuant to this
Notice of Grant as if he had performed twelve (12) additional months of
service.

 

(d) Upon a Change
of Control.  Notwithstanding
paragraph (a) above, in the event of the occurrence of a Change in Control (as
defined in the Employment Agreement) while Participant is employed by the
Company, then:

 

(i)                                     Participant shall immediately vest in an
additional number of shares under the Restricted Stock Units awarded pursuant
to this Notice of Grant as if he had performed twelve (12) additional months of
service; and

 

(ii)                                  if within twelve (12) months following
the occurrence of the Change of Control, one of the following events occurs:

 

(1) Participant’s employment is terminated by the
Company without Cause; or

 

(2) Participant resigns for Good Reason

 

then Participant shall immediately vest as to all shares under all
outstanding Restricted Stock Units and the Company

 

By
accepting this agreement online, you and the Company agree that this award is
granted under and governed by the governed by the terms and conditions of the
Plan and the Agreement, each of which are made a part of this document. You
further agree to accept, acknowledge and execute this Agreement online as a
condition to receiving any Restricted Stock Units under this Award.

 

Nothing in this Notice or in the attached
Agreement or in the Plan shall confer upon Participant any right to continue in
Service for any period of specific duration or interfere with or otherwise
restrict in any way the rights of the Company (or any Parent or Subsidiary
employing or retaining Participant) or of Participant, which rights are hereby
expressly reserved by each, to terminate Participant’s Service at any time for
any reason, with or without cause.

 

 

EXHIBIT A

 

RESTRICTED STOCK UNIT AGREEMENT

 

1.                                       Grant. The Company hereby grants to Participant under the Plan an Award of
Restricted Stock Units (referred to in the Plan as Performance Units), subject
to all of the terms and conditions in the Notice of Grant, this Agreement and
the Plan.

 

2.                                       Company’s Obligation to Pay. Each Restricted Stock Unit represents a
value equal to the Fair Market Value of a Share on the date it becomes vested. Unless
and until the Restricted Stock Units will have vested in the manner set forth
in Sections 3 and 4, Participant will have no right to payment of any such
Restricted Stock Units. Prior to actual payment of any vested Restricted Stock
Units, such Restricted Stock Unit will represent an unsecured obligation of the
Company, payable (if at all) only from the general assets of the Company.

 

3.                                       Vesting Schedule. Subject to Section 4, the Restricted Stock
Units awarded by this Agreement will vest in Participant according to the
vesting schedule set forth on the attached Notice of Grant, subject to
Participant continuing to be a Service Provider through each such date; provided, however, that the paragraph (b) of the Notice of
Grant shall apply in the event Participant ceases to be a Service Provider as a
result of termination without Cause (as defined in the employment agreement
between the Company and Participant (the “Employment Agreement”) or if
Participant resigns for Good Reason (as defined in the Employment Agreement)
and paragraph (c) of the Notice of Grant shall apply in the event Participant
ceases to be a Service Provider within 12 months of a Change of Control (as
defined in the Employment Agreement) as a result of termination by the Company
without cause or if Participant resigns for Good Reason.

 

4.                                       Forfeiture upon Termination of Status as a
Service Provider. Subject to
paragraphs (b) and (c) of the Notice of Grant, if Participant ceases to be a
Service Provider for any or no reason, the then-unvested Restricted Stock Units
awarded by this Agreement will thereupon be forfeited at no cost to the Company
and Participant will have no further rights thereunder.

 

5.                                       Payment after Vesting. Any Restricted Stock Units that vest in
accordance with Section 3 will be paid to Participant (or in the event of
Participant’s death, to his or her estate) in whole Shares, subject to
Participant satisfying any applicable tax withholding obligations as set forth
in Section 7.

 

6.                                       Payments
after Death. Any distribution or delivery to be made to Participant under
this Agreement will, if Participant is then deceased, be made to Participant’s
designated beneficiary, or if no beneficiary survives Participant, the
administrator or executor of Participant’s estate. Any such transferee must
furnish the Company with (a) written notice of his or her status as
transferee, and (b) evidence satisfactory to the Company to establish the
validity of the transfer and compliance with any laws or regulations pertaining
to said transfer.

 

7.                                       Taxes.

 

(a) Generally..
The Participant is ultimately liable and responsible for all taxes owed in
connection with the Restricted Stock Units, regardless of any action the
Company or any of its Subsidiaries takes with respect to any tax withholding
obligations that arise in connection 

 

 

with
the Restricted Stock Units. Neither the Company nor any of its Subsidiaries
makes any representation or undertaking regarding the treatment of any tax
withholding in connection with the grant or vesting of the Restricted Stock
Units or the subsequent sale of Shares issuable pursuant to the Restricted
Stock Units. The Company and its Subsidiaries do not commit and are under no
obligation to structure the Restricted Stock Units to reduce or eliminate the
Participant’s tax liability.

 

(b) Payment of
Withholding Taxes. Notwithstanding any contrary provision of this
Agreement, no Shares will be issued to the Participant, unless and until
satisfactory arrangements (as determined by the Administrator) will have been
made by the Participant with respect to the payment of any taxes which the
Company determines must be withheld with respect to the Restricted Stock Units.
The Administrator, in its sole discretion and pursuant to such procedures as it
may specify from time to time, may satisfy such tax withholding obligations, in
whole or in part, by withholding otherwise deliverable Shares having an
aggregate Fair Market Value sufficient to (but not exceeding) the minimum
amount required to be withheld. In addition and to the maximum extent permitted
by law, the Company has the right to retain without notice from salary or other
amounts payable to the Participant, cash having a value sufficient to satisfy
any tax withholding obligations that cannot be satisfied by the withholding of
otherwise deliverable Shares.

 

8.                                       Rights as Stockholder. Neither Participant nor any person claiming
under or through Participant will have any of the rights or privileges of a
stockholder of the Company in respect of any Shares deliverable hereunder,
unless and until certificates representing such Shares will have been issued,
recorded on the records of the Company or its transfer agents or registrars,
and delivered to Participant.

 

9.                                       No Effect on Service. Participant acknowledges and agrees that
the vesting of the Restricted Stock Units pursuant to Section 3 hereof is
earned only by Participant continuing to be a Service Provider through the
applicable vesting dates (and not through the act of being hired or acquiring
Shares hereunder) (subject, however, to paragraphs (b) and (c) of the Notice of
Grant). Participant further acknowledges and agrees that this Agreement, the
transactions contemplated hereunder and the vesting schedule set forth herein
do not constitute an express or implied promise of Participant continuing to be
a Service Provider for the vesting period, for any period, or at all, and will
not interfere with the Participant’s right or the right of the Company (or the
Affiliate employing or retaining Participant) to terminate Participant as a
Service Provider at any time, with or without cause.

 

10.                                 Address for Notices. Any notice to be given to the Company under
the terms of this Agreement will be addressed to the Company, in care of Stock
Administrator at Align Technology, Inc., 881 Martin Avenue, Santa Clara,
CA 95050, or at such other address as the Company may hereafter designate in
writing.

 

11.                                 Grant is Not Transferable. Except to the limited extent provided in
Section 6, this grant and the rights and privileges conferred hereby will
not be transferred, assigned, pledged or hypothecated in any way (whether by
operation of law or otherwise) and will not be subject to sale under execution,
attachment or similar process. Upon any attempt to transfer, assign, pledge,
hypothecate or otherwise dispose of this grant, or any right or privilege
conferred hereby, or upon any attempted sale under any execution, attachment or
similar process, this grant and the rights and privileges conferred hereby
immediately will become null and void.

 

 

12.                                 Binding Agreement. Subject to the limitation on the
transferability of this grant contained herein, this Agreement will be binding
upon and inure to the benefit of the heirs, legatees, legal representatives,
successors and assigns of the parties hereto.

 

13.                                 Additional Conditions to Issuance of Stock. If at any time the Company will determine,
in its discretion, that the listing, registration or qualification of the
Shares 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 to the issuance of shares to Participant (or his
estate), such issuance will not occur unless and until such listing,
registration, qualification, consent or approval will have been effected or
obtained free of any conditions not acceptable to the Company. Where the
Company determines that the delivery of the payment of any Shares will violate
federal securities laws or other applicable laws, the Company will defer
delivery until the earliest date at which the Company reasonably anticipates
that the delivery of Shares will no longer cause such violation. The Company
will make all 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.

 

14.                                 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 this Agreement and one or more provisions of the Plan, the
provisions of the Plan will govern.

 

15.                                 Administrator Authority. The Administrator will 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 (including, but not limited
to, the determination of whether or not any Restricted Stock Units have vested).
All actions taken and all interpretations and determinations made by the
Administrator in good faith will be final and binding upon Participant, the
Company and all other interested persons. No member of the Administrator will
be personally liable for any action, determination or interpretation made in
good faith with respect to the Plan or this Agreement.

 

16.                                 Electronic Delivery. The Company may, in its sole discretion,
decide to deliver any documents related to Restricted Stock Units awarded under
the Plan or future Restricted Stock Units that may be awarded under the Plan by
electronic means or request Participant’s consent to participate in the Plan by
electronic means. Participant hereby consents to receive such documents by
electronic delivery and agrees to participate in the Plan through an on-line or
electronic system established and maintained by the Company or another third
party designated by the Company.

 

17.                                 Captions. Captions provided herein are for convenience only and are not to
serve as a basis for interpretation or construction of this Agreement.

 

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

 

19.                                 Governing Law. This Award Agreement shall be governed by
the laws of the State of California, without giving effect to the conflict of
law principles thereof. For purposes of litigating any dispute that arises
under this Award of Restricted Stock Units or this 

 

 

Agreement,
the parties hereby submit to and consent to the jurisdiction of the State of
California, and agree that such litigation shall
be conducted in the courts of Santa Clara County, California, or the federal courts for the United States for the
Northern District of California, and no other courts, where this Award of
Restricted Stock Units is made and/or to be performed.

 

By
Participant’s acceptance of this Agreement online, Participant represents that
he or she is familiar with the terms and provisions of the Plan, and hereby
accepts this Agreement subject to all of the terms and provisions thereof. Participant
has reviewed the Plan and this Agreement in their entirety, has had an opportunity
to obtain the advice of counsel prior to executing this Agreement and fully
understands all provisions of this Agreement. Participant agrees to accept as
binding, conclusive and final all decisions or interpretations of the
Administrator upon any questions arising under the Plan or this Agreement. Participant
further agrees to notify the Company upon any change in the residence indicated
in the Notice of Grant of Restricted Stock Units.

 

 

ALIGN TECHNOLOGY, INC.

 

2005 INCENTIVE PLAN

 

NOTICE OF GRANT OF RESTRICTED STOCK UNITS

(Director Form/Automatic Renewal
Grants)

 

Unless
otherwise defined herein, the terms defined in the 2005 Incentive Plan (the “Plan”)
will have the same defined meanings in this Notice of Grant of Restricted Stock
Units (the “Notice of Grant”).

 

Participant:

 

Address:

 

You
have been granted the right to receive Restricted Stock Units (referred to in
Section 9 of the Plan as “Performance Units”), subject to the terms and
conditions of the Plan, this Notice of Grant and the Restricted Stock Unit
Agreement attached hereto as Exhibit A (the “Agreement”) as follows:

 

	
  Grant Number

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Date of Grant

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Vesting Commencement Date

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Total
  Number of Restricted Stock Units

  	
   

  	
   

  

 

Vesting
Schedule:

 

One hundred percent (100%) of the Restricted Stock Units will vest and
be issued to Participant on the one-year anniversary of the Vesting
Commencement Date, subject to Participant continuing to be a Service Provider
through such dates (the “Performance Period”). In the event Participant ceases
to be a Service Provider for any or no reason before Participant vests in the
right to acquire the Shares to be issued pursuant to the Restricted Stock Unit,
the Restricted Stock Unit and Participant’s right to acquire any Shares
hereunder will immediately terminate.

 

By
accepting this agreement online, you and the Company agree that this award is
granted under and governed by the terms and conditions of the Plan and the
Agreement, each of which are made a part of this document. You further agree to
accept, acknowledge and execute this Agreement online as a condition to
receiving any Restricted Stock Units under this Award.

 

Nothing in this Notice or in the attached
Agreement or in the Plan shall confer upon Participant any right to continue in
Service for any period of specific duration or interfere with or otherwise
restrict in any way the rights of the Company (or any Parent or Subsidiary
employing or retaining Participant) or of Participant, which rights are hereby
expressly reserved by each, to terminate Participant’s Service at any time for
any reason, with or without cause.

 

 

EXHIBIT A

 

RESTRICTED STOCK UNIT AGREEMENT

 

1.                                       Grant. The Company hereby grants to Participant under the Plan an Award of
Restricted Stock Units (referred to in the Plan as Performance Units), subject
to all of the terms and conditions in the Notice of Grant, this Agreement and
the Plan.

 

2.                                       Company’s Obligation to Pay. Each Restricted Stock Unit represents a
value equal to the Fair Market Value of a Share on the date it becomes vested. Unless
and until the Restricted Stock Units will have vested in the manner set forth
in Sections 3 and 4, Participant will have no right to payment of any such
Restricted Stock Units. Prior to actual payment of any vested Restricted Stock
Units, such Restricted Stock Unit will represent an unsecured obligation of the
Company, payable (if at all) only from the general assets of the Company.

 

3.                                       Vesting Schedule. Subject to Section 4, the Restricted Stock
Units awarded by this Agreement will vest in Participant according to the
vesting schedule set forth on the attached Notice of Grant, subject to
Participant continuing to be a Service Provider through each such date.

 

4.                                       Forfeiture upon Termination of Status as a
Service Provider. Notwithstanding
any contrary provision of this Agreement, if Participant ceases to be a Service
Provider for any or no reason, the then-unvested Restricted Stock Units awarded
by this Agreement will thereupon be forfeited at no cost to the Company and
Participant will have no further rights thereunder.

 

5.                                       Payment after Vesting. Any Restricted Stock Units that vest in
accordance with Section 3 will be paid to Participant (or in the event of
Participant’s death, to his or her estate) in whole Shares, subject to
Participant satisfying any applicable tax withholding obligations as set forth
in Section 7.

 

6.                                       Payments
after Death. Any distribution or delivery to be made to Participant under
this Agreement will, if Participant is then deceased, be made to Participant’s
designated beneficiary, or if no beneficiary survives Participant, the
administrator or executor of Participant’s estate. Any such transferee must
furnish the Company with (a) written notice of his or her status as
transferee, and (b) evidence satisfactory to the Company to establish the
validity of the transfer and compliance with any laws or regulations pertaining
to said transfer.

 

7.                                       Withholding of Taxes. Participants is ultimately liable and
responsible for all taxes owed in connection with the Restricted Stock Units,
regardless of any action the Company takes with respect to any tax withholding
obligations that arise in connection with the Restricted Stock Units awarded
under this Agreement. The
Administrator, in its sole discretion and pursuant to such procedures as it may
specify from time to time, may satisfy such tax withholding obligations, in
whole or in part, by withholding otherwise deliverable Shares having an
aggregate Fair Market Value sufficient to (but not exceeding) the minimum
amount required to be withheld.

 

8.                                       Rights as Stockholder. Neither Participant nor any person claiming
under or through Participant will have any of the rights or privileges of a
stockholder of the Company in respect of any Shares deliverable hereunder,
unless and until certificates representing such Shares will have been issued,
recorded on the records of the Company or its transfer agents or

 

 

registrars, and delivered to Participant.

 

9.                                       No Effect on Service. Participant acknowledges and agrees that
the vesting of the Restricted Stock Units pursuant to Section 3 hereof is
earned only by Participant continuing to be a Service Provider through the
applicable vesting dates (and not through the act of being hired or acquiring
Shares hereunder). Participant further acknowledges and agrees that this
Agreement, the transactions contemplated hereunder and the vesting schedule set
forth herein do not constitute an express or implied promise of Participant
continuing to be a Service Provider for the vesting period, for any period, or
at all, and will not interfere with the Participant’s right or the right of the
Company (or the Affiliate employing or retaining Participant) to terminate
Participant as a Service Provider at any time, with or without cause.

 

10.                                 Address for Notices. Any notice to be given to the Company under
the terms of this Agreement will be addressed to the Company, in care of Stock
Administrator at Align Technology, Inc., 881 Martin Avenue, Santa Clara,
CA 95050, or at such other address as the Company may hereafter designate in
writing.

 

11.                                 Grant is Not Transferable. Except to the limited extent provided in
Section 6, this grant and the rights and privileges conferred hereby will
not be transferred, assigned, pledged or hypothecated in any way (whether by
operation of law or otherwise) and will not be subject to sale under execution,
attachment or similar process. Upon any attempt to transfer, assign, pledge,
hypothecate or otherwise dispose of this grant, or any right or privilege
conferred hereby, or upon any attempted sale under any execution, attachment or
similar process, this grant and the rights and privileges conferred hereby
immediately will become null and void.

 

12.                                 Binding Agreement. Subject to the limitation on the
transferability of this grant contained herein, this Agreement will be binding
upon and inure to the benefit of the heirs, legatees, legal representatives,
successors and assigns of the parties hereto.

 

13.                                 Additional Conditions to Issuance of Stock. If at any time the Company will determine,
in its discretion, that the listing, registration or qualification of the
Shares 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 to the issuance of shares to Participant (or his
estate), such issuance will not occur unless and until such listing,
registration, qualification, consent or approval will have been effected or
obtained free of any conditions not acceptable to the Company. Where the
Company determines that the delivery of the payment of any Shares will violate
federal securities laws or other applicable laws, the Company will defer
delivery until the earliest date at which the Company reasonably anticipates
that the delivery of Shares will no longer cause such violation. The Company
will make all 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.

 

14.                                 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 this Agreement and one or more provisions of the Plan, the
provisions of the Plan will govern.

 

15.                                 Administrator Authority. The Administrator will 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 

 

 

(including,
but not limited to, the determination of whether or not any Restricted Stock
Units have vested). All actions taken and all interpretations and
determinations made by the Administrator in good faith will be final and
binding upon Participant, the Company and all other interested persons. No
member of the Administrator will be personally liable for any action,
determination or interpretation made in good faith with respect to the Plan or
this Agreement.

 

16.                                 Electronic Delivery. The Company may, in its sole discretion,
decide to deliver any documents related to Restricted Stock Units awarded under
the Plan or future Restricted Stock Units that may be awarded under the Plan by
electronic means or request Participant’s consent to participate in the Plan by
electronic means. Participant hereby consents to receive such documents by
electronic delivery and agrees to participate in the Plan through an on-line or
electronic system established and maintained by the Company or another third
party designated by the Company.

 

17.                                 Captions. Captions provided herein are for convenience only and are not to
serve as a basis for interpretation or construction of this Agreement.

 

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

 

19.                                 Governing Law. This Award Agreement shall be governed by
the laws of the State of California, without giving effect to the conflict of
law principles thereof. For purposes of litigating any dispute that arises
under this Award of Restricted Stock Units or this Agreement, the parties
hereby submit to and consent to the jurisdiction of the State of California, and agree that such litigation shall be conducted in the
courts of Santa Clara County, California, or the
federal courts for the United States for the Northern District of California,
and no other courts, where this Award of Restricted Stock Units is made and/or
to be performed.

 

By
Participant’s acceptance of this Agreement online, Participant represents that
he or she is familiar with the terms and provisions of the Plan, and hereby
accepts this Agreement subject to all of the terms and provisions thereof. Participant
has reviewed the Plan and this Agreement in their entirety, has had an
opportunity to obtain the advice of counsel prior to executing this Agreement
and fully understands all provisions of this Agreement. Participant agrees to
accept as binding, conclusive and final all decisions or interpretations of the
Administrator upon any questions arising under the Plan or this Agreement. Participant
further agrees to notify the Company upon any change in the residence indicated
in the Notice of Grant of Restricted Stock Units.Exhibit 10.1

 

Repurchase Plan

 

10b5-1 Repurchase Plan

 

Repurchase Plan,
dated February 28, 2006 (this “Repurchase Plan”), between PepsiAmericas, Inc.
(the “Issuer”) and Banc of America Securities LLC. (“BAS”).

 

WHEREAS, the
Issuer desires to establish this Repurchase Plan to repurchase shares of its
common stock (the “Stock”); and

 

WHEREAS, the
Issuer desires to engage BAS to effect repurchases of shares of Stock in
accordance with this Repurchase Plan;

 

NOW, THEREFORE,
the Issuer and BAS hereby agree as follows:

 

1.                                       (a) Subject to the Issuer’s continued
compliance with Section 2 hereof, BAS shall effect a purchase or purchases
(each, a “Purchase”) of up to 2,000,000 shares of the Stock (the “Total Plan
Shares”) as set forth in Annex 1.

 

(b) Purchases
may be made in the open market or through privately negotiated
transactions. BAS shall comply with the requirements of paragraphs (b)(2), (b)(3) and
(b)(4) of Rule 10b-18 under the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), in connection with Purchases of Stock in the open
market pursuant to this Repurchase Plan. The Issuer agrees not to take any
action that would cause Purchases not to comply with Rule 10b-18, Rule 10b5-1
or Regulation M.

 

2.                                       The Issuer shall pay to BAS a commission of $.02
cents per share of Stock repurchased pursuant to this Repurchase Plan. In
accordance with BAS’s customary procedures, BAS will deposit shares of Stock
purchased hereunder into an account established by BAS for the Issuer against
payment to BAS of the purchase price therefor and commissions and other amounts
in respect thereof payable pursuant to this Section. The Issuer will be
notified of all transactions pursuant to customary trade confirmations.

 

 

3.                                       (a)          This
Repurchase Plan shall become effective immediately and shall terminate upon the
first to occur of the following:

 

(1) the ending of the Trading Period, as set forth in Annex 1;

 

(2) the
purchase of the number of Total Plan Shares pursuant to this Repurchase Plan;

 

(3) the end
of the second business day following the date of receipt by BAS of notice of
early termination substantially in the form of Appendix A hereto,
delivered by telecopy, transmitted to (212) 230-8610, Attention: Chip Gibbs,
and confirmed by telephone to Chip Gibbs at (212) 583-8554;

 

(4) the
commencement of any voluntary or involuntary case or other proceeding seeking
liquidation, reorganization or other relief under any bankruptcy, insolvency or
similar law or seeking the appointment of a trustee, receiver or other similar
official, or the taking of any corporate action by the Issuer to authorize or
commence any of the foregoing;

 

(5) the
public announcement of a tender or exchange offer for the Stock or of a merger,
acquisition, recapitalization or other similar business combination or
transaction as a result of which the Stock would be exchanged for or converted
into cash, securities or other property; or

 

(6) the
failure of the Issuer to comply with Section 2 hereof.

 

(b) Sections
2 and 13 of this Repurchase Plan shall survive any termination hereof. In
addition, the Issuer’s obligation under Section 2 hereof in respect of any
shares of Stock purchased prior to any termination hereof shall survive any
termination hereof.

 

4.                                       The
Issuer understands that BAS may not be able to effect a Purchase due to a
market disruption or a legal, regulatory or contractual restriction or internal
policy applicable to BAS or otherwise. If any Purchase cannot be executed as
required by Section 1 due to a market disruption, a legal, regulatory or
contractual restriction or internal policy applicable to BAS or any other
event, such Purchase shall be cancelled and shall not be effected pursuant to
this Repurchase Plan.

 

2

 

5.                                       The Issuer represents and warrants, on the date
hereof and on the date of any amendment hereto, that: (a) it is not aware
of material, nonpublic information with respect to the Issuer or any securities
of the Issuer (including the Stock), (b) it is entering into or amending,
as the case may be, this Repurchase Plan in good faith and not as part of
a plan or scheme to evade the prohibitions of Rule 10b5-1 under the
Exchange Act or other applicable securities laws and (c) its execution of
this Repurchase Plan or amendment hereto, as the case may be, and the
Purchases contemplated hereby do not and will not violate or conflict with the
Issuer’s certificate of incorporation or by-laws or, if applicable, any similar
constituent document, or any law, rule regulation or agreement binding on or
applicable to the Issuer or any of its subsidiaries or any of its of their
property or assets.

 

6.                                       It is the intent of the parties that this
Repurchase Plan comply with the requirements of Rule 10b5-1(c)(1)(i)(B) and  Rule 10b-18 under the Exchange Act, and
this Repurchase Plan shall be interpreted to comply with the requirements
thereof.

 

7.                                       The
Issuer shall, on the business day prior to the intended date of such purchase,
notify BAS of the intention on the part of any affiliated purchaser, as
defined in Rule 10b-18, of the Issuer to purchase the Stock on any day if
such purchase is to be effected otherwise than through BAS pursuant to this
Repurchase Plan and BAS shall refrain from purchasing any Stock hereunder on
the day following receipt of such notice. The Issuer shall be solely
responsible for any purchases made by BAS as the Issuer’s agent prior to BAS’s
receipt of such written notice. Notwithstanding the foregoing, if BAS receives
such notice, BAS may nevertheless be entitled to make, and the Issuer
shall be solely responsible for, a purchase hereunder pursuant to a bid made
before such notice is received by BAS. The Issuer shall be solely responsible
for notifying BAS of any purchases of the Stock by any such affiliated
purchaser, and, without limiting the generality of Section 14 hereof, the
Issuer agrees to indemnify and hold harmless BAS for any failure to so notify
BAS or any error in any such notification. The Issuer also acknowledges that
any action that it takes that causes or influences any such affiliated
purchaser to purchase the Stock may cause the Daily Share Purchase Amount
to be reduced.

 

3

 

8.                                       At the time of the Issuer’s execution of this
Repurchase Plan, the Issuer has not entered into a similar agreement with
respect to the Stock. The Issuer agrees not to enter into any such agreement
while this Repurchase Plan remains in effect.

 

9.                                       Except as specifically contemplated hereby, the
Issuer shall be solely responsible for compliance with all statutes, rules and
regulations applicable to the Issuer and the transactions contemplated hereby,
including, without limitation, reporting and filing requirements.

 

10.                                 This Repurchase Plan shall be governed by and
construed in accordance with the laws of the State of New York and may be
modified or amended only by a writing signed by the parties hereto.

 

11.                                 The Issuer represents and warrants that the
transactions contemplated hereby are consistent with the Issuer’s publicly
announced stock repurchase program (“Program”) and said Program has been duly
authorized by the Issuers’ board of directors.

 

12.                                 The
number of Total Plan Shares, other share amounts and prices, if applicable, set
forth in section 1(a) shall be adjusted automatically on a proportionate
basis to take into account any stock split, reverse stock split or stock
dividend with respect to the Stock or any change in capitalization with respect
to the Issuer that occurs during the term of this Repurchase Plan.

 

13.                                 Except
as contemplated by Section 3 (a) (3) of this Repurchase Plan,
the Issuer acknowledges and agrees that it does not have authority, influence
or control over any Purchase effected by BAS pursuant to this Repurchase Plan
and the Issuer will not attempt to exercise any authority, influence or control
over Purchases. BAS agrees not to seek advice from the Issuer with respect to
the manner in which it effects Purchases under this Repurchase Plan.

 

14.                                 The Issuer agrees to indemnify and hold harmless BAS
and its affiliates and their officers, directors employees and representatives
against any loss, claim,

 

4

 

damage or liability, including
legal fees and expenses, arising out of any action or proceeding relating to
this Repurchase Plan or any Purchase, except to the extent that any such loss,
claim, damage or liability is determined in a non-appealable determination of a
court of competent jurisdiction to be solely the result of the indemnified
person’s willful misconduct.

 

15.                                 This
Repurchase Plan may be executed in any number of counterparts, all of
which, taken together, shall constitute one and the same agreement.

 

5

 

IN WITNESS WHEREOF, the undersigned have signed this
Repurchase Plan as of the date first written above.

 

 

	
  Banc of America Securities
  LLC

  
	
   

  
	
   

  
	
  By: 

  	
  /s/ David Moran

  	
   

  	
   

  
	
   

  	
  Name:  David Moran

  	
   

  
	
   

  	
  Title:    Managing
  Director

  	
   

  
					

 

 

	
  PepsiAmericas, Inc.

  
	
   

  
	
   

  
	
  By:

  	
  /s/ Andrew R. Stark

  	
   

  	
   

  
	
   

  	
  Name: Andrew R. Stark

  	
   

  
	
   

  	
  Title:   Vice
  President and Treasurer

  	
   

  
					

 

6

 

Appendix A

 

Request for Early Termination of Repurchase Plan

 

 

To: Banc of America Securities LLC

 

As of the date
hereof, PepsiAmericas, Inc. hereby requests termination of the Repurchase
Plan, dated February 28, 2006, in good faith and not as part of a
plan or scheme to evade the prohibitions of Rule 10b5-1 or other
applicable securities laws.

 

IN WITNESS WHEREOF, the undersigned has signed this Request for Early
Termination of Plan as of the date specified below.

 

 

	
  PepsiAmericas, Inc.

  	
  Banc of America Securities
  LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Name:

  
	
   

  	
  Title:

  	
  Title:

  
						

 

 

ANNEX 1

 

TRADING PARAMETERS

 

Trading Period: From and
including March 13,
2006 through May 5, 2006

 

Daily Share Purchase
Amount Lesser of  (a) 70,000 shares; (b) Exchange Act
Rule 10b-18(b)(4) limit; and (c) 33% of current trading day’s
volume.

 

TRADE ORDER

 

Subject to Paragraph 4 and Paragraph 6 of the
Repurchase Plan dated February 28, 2006 (the “Repurchase Plan”) to which
this Annex I is attached, each day during the Trading Period on which the New
York Stock Exchange is open for business, BAS shall use its best efforts to
effect a purchase or purchases (each, a “Purchase”) of the Daily Share Purchase
Amount, such Purchases cumulatively not to exceed the Total Plan Shares. Capitalized
terms used but not otherwise defined herein shall have the meaning assigned
thereto in the Repurchase Plan.

 

2

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