Document:

EME-EX10(k)(k)_2012.6.30-Q2

EXHIBIT 10(k)(k)
Restricted Stock Unit Award Agreement  
Under the Director Award Program

EMCOR GROUP, INC.
301 Merritt Seven 
Norwalk, Connecticut 06851-1092
 

Agreement made this ____ day of __________, between EMCOR GROUP, INC., a Delaware corporation (the “Company”) and _________, (the “Participant”). 
1.    Restricted Stock Unit Award.
The Participant is hereby awarded, pursuant to the Company’s 2010 Incentive Plan (the “Plan”) and the Director Award Program established under the Plan (the “Program”), and subject to their terms, a Restricted Stock Unit (“RSU”) award (the “Program Award”) as hereinafter described. The Program Award gives the Participant the conditional right to receive, without payment but subject to the conditions and limitations set forth in this Agreement, the Program and the Plan, (i) _____ Shares (the “Basic Shares”) and (ii) an additional whole number of Shares (rounded down to the nearest whole number) (the “Dividend Equivalent Shares”) equal in value (determined as hereinafter provided) to the dividends, if any, that would have been paid with respect to the Basic Shares had the Basic Shares been issued to the Participant on the date hereof.  For purposes of (ii), the number of Dividend Equivalent Shares with respect to any dividend shall be calculated as of the date on which the dividend is paid to holders of Company common stock.  For the avoidance of doubt, no Shares (including Dividend Equivalent Shares) shall be payable in respect of the Program Award if the Program Award is forfeited, and no Dividend Equivalent Shares shall be payable in respect of any dividend for which the record date falls on or after the date on which the Participant or other person entitled to the Basic Shares becomes the record owner of such Shares for dividend record-date purposes.  Except as otherwise expressly provided, all terms used herein shall have the same meaning as in the Program and the Plan.
2.    Vesting.
This Program Award shall vest at the time that is immediately prior to the earliest to occur of the following:  (A) the first (1st) anniversary of the effective date of this Agreement; (B) the annual meeting (if any) of shareholders that occurs in the calendar year following the calendar year of the effective date of this Agreement; (C) the death of the Participant while serving on the Board; (D) the resignation of the Participant from the Board for reasons of permanent disability (as determined by the Committee).
Upon any termination of a Participant’s services with the Board, all RSUs then held by the Participant that have not previously vested (determined after taking into account the previous paragraph) shall be immediately forfeited.

3.    Delivery of Shares.
Subject to Section 4 below, the Company shall effect delivery of the Shares with respect to this Program Award to the Participant (or, in the event of the Participant’s death, to the person to whom the Program Award has passed by will or the laws of descent and distribution) on ______, 20__.  No Shares will be issued pursuant to this Program Award unless and until all legal requirements applicable to the issuance or transfer of such Shares have been complied with to the satisfaction of the Committee.  
4.    Dividends; Other Rights. 
The Program Award shall not be interpreted to bestow upon the Participant any equity interest or ownership in the Company or any Affiliate prior to the date on which the Company delivers Shares to the Participant.  The Participant is not entitled to vote any Shares by reason of the granting of this Program Award or to receive or be credited (other than as provided in Section 1 above) with any dividends declared and payable on any Share prior to the delivery of such Shares.
5.    Certain Tax Matters.  
The Participant expressly acknowledges that because this Program Award consists of an unfunded and unsecured conditional promise by the Company to deliver Shares in the future, subject to the terms hereof, it is not possible to make a so-called “83(b) election” with respect to the Program Award. By accepting this Program Award, the Participant agrees to be responsible for all taxes (including any withholding taxes) to which he may be subject by reason of the vesting of or payment under the Program Award.
6.    Nontransferability.
Neither this Program Award nor any rights with respect thereto may be sold, assigned, transferred (other than by will or the laws of descent and distribution), pledged or otherwise encumbered, except as the Committee may otherwise determine.  
7.    Effect on Right to Be Continued as a Director.
This Program Award shall not confer upon the Participant any right to be continued as a director of the Company or derogate from any right of the Company or its stockholders to decline to nominate the Participant for election as a director, to decline to elect Participant as a director, or, subject to the provisions of the bylaws of the Company and applicable law, to remove Participant as a director, with or without cause.
8.    Amendments.
No amendment of any provision of this Agreement shall be valid unless the same shall be in writing.

9.    Governing Law.
This Agreement shall be governed and construed by and determined in accordance with the laws of the State of Delaware, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware.
The Company, by its duly authorized officer, and the Participant have executed this Agreement as of the date first set forth above.
                            
EMCOR GROUP, INC.

By:______________________________          
Anthony J. Guzzi
Title: President and Chief Executive Officer

Agreed and Accepted:

_______________________________Exhibit 10.3

Exhibit 10.3
TIME SHARING AGREEMENT
THIS TIME SHARING AGREEMENT (the “Agreement”) is made and entered into effective as of the 25th day of July, 2012, by and between Altria Client Services Inc., with an address of 6601 West Broad Street; Richmond, VA 23230 (“Operator”) and Martin J. Barrington, with an address of 6601 West Broad Street; Richmond, VA 23230 (“User”).
WHEREAS, Operator owns the aircraft more particularly described on Exhibit A attached hereto (collectively, the “Aircraft”);
WHEREAS, Operator provides a certain flight allowance to User for User's personal use (the “Flight Allowance”); 
WHEREAS, Operator employs a fully qualified flight crew to operate the Aircraft; and
WHEREAS, Operator desires to lease said Aircraft with flight crew to User and User desires to lease said Aircraft and flight crew from Operator on a time sharing basis pursuant to Section 91.501(b)(6) of the Federal Aviation Regulations (the “FARs”).
NOW THEREFORE, Operator and User declaring their intention to enter into and be bound by this Agreement, and for the good and valuable consideration set forth below, hereby covenant and agree as follows:
1.Operator agrees to lease the Aircraft to User pursuant to the provisions of FAR 91.501 (b)(6) and to provide a fully qualified flight crew for all operations on a non-continuous basis commencing on the first date set forth hereinabove and continuing unless and until terminated.  Either party may terminate this Agreement by giving 30 days written notice to the other party.

2.If User exceeds his Flight Allowance, User shall pay Operator for each flight conducted under this Agreement the actual expenses of each specific flight, including the actual expense of any “deadhead” flights made for User, as authorized by FAR Part 91.501(d).  The expenses authorized by FAR Part 91.501(d) include:

(a)    fuel, oil, lubricants and other additives;
		
	(b)
	travel expenses of the crew, including food, lodging and ground         transportation;

		
	(c)
	hangar and tie down costs away from the Aircrafts' base of operations;

(d)    insurance obtained for the specific flight;
(e)    landing fees, airport taxes and similar assessments;
(f)    customs, foreign permit and similar fees directly related to the flight;

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(g)    in flight food and beverages;
(h)    passenger ground transportation; and
(i)    flight planning and weather contract services.
In addition, User shall pay Operator for each such flight and “deadhead” flight the costs of engine maintenance, aircraft cleaning, and, if applicable, any contracted (temporary) flight crew, which cost shall not exceed 100% of the expenses listed in subparagraph (a) of this paragraph, as authorized by FAR 91.501(d).
3.User agrees to pay any federal transportation excise tax (“FET”) or other taxes due on the fees set forth in paragraph 2 above.  FET is currently imposed at a rate of 7.5% of the amount paid for taxable transportation, with an additional fee of $3.80 per passenger per segment.  For certain international flights, the tax is instead imposed as a per passenger international facilities fee currently at the rate of $16.70 per passenger per arrival to or departure from the United States.  In addition, there are special rules for flights to and from Alaska and Hawaii.  The per passenger fees are periodically updated by the IRS.  Operator shall include the appropriate FET amount on each invoice.  Operator shall be responsible for collecting, reporting and remitting FET to the U.S. Internal Revenue Service.

4.Operator will pay all expenses related to the operation of the Aircraft when incurred.  Operator will provide a monthly invoice to User for the fees described herein.  User shall pay Operator for said expenses within 30 days of receipt of the invoice therefore.  Notwithstanding the foregoing, Operator and User agree that the last invoice of the calendar year shall be issued no later than December 15 of each year and shall reflect both actual and estimated expenses, if any, related to the operation or anticipated operation of the Aircraft through the end of such year.  User shall pay such invoice no later than December 31 of the applicable year.  As soon thereafter as actual expenses are finalized, but in no event later than the March invoice for the following year, the parties shall reconcile any difference between the estimated invoice and the actual expenses.  User shall pay any amounts outstanding or receive a reimbursement for any estimated charge in excess of the actual expense.     

5.User will provide Operator with requests for flight time and proposed flight schedules as far in advance of any given flight as possible.  Requests for flight time and proposed flight schedules shall be made in compliance with Operator's scheduling procedures.  In addition to proposed schedules and flight times, User shall provide at least the following information for each proposed flight at some time prior to scheduled departure as required by Operator or Operator's flight crew:

		
	(a)
	proposed departure point;

		
	(b)
	destination;

		
	(c)
	date and time of flight;

		
	(d)
	the number and names of anticipated passengers;

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	(e)
	designation of each passenger's trip purpose (personal or business);

		
	(f)
	the nature and extent of unusual luggage and/or cargo to be carried;

		
	(g)
	the date and time of a return flight, if any; and

		
	(h)
	any other information concerning the proposed flight that may be pertinent or required by Operator or Operators flight crew.

6.Operator shall pay all expenses related to the ownership and operation of the Aircraft and shall employ, pay for and provide to User a qualified flight crew for each flight made under this Agreement.

7.Operator shall be solely responsible for securing maintenance, preventive maintenance and required or otherwise necessary inspections on the Aircraft, and shall take such requirements into account in scheduling the Aircraft.  No period of maintenance, preventive maintenance or inspection shall be delayed or postponed for the purpose of scheduling the Aircraft, unless said maintenance or inspection can be safely conducted at a later time in compliance with all applicable laws and regulations, and within the sound discretion of the pilot in command.

8.In accordance with applicable FARs, the flight crew will exercise all of its duties and responsibilities in regard to the safety of each flight conducted hereunder.  User specifically agrees that the pilot in command, in his sole discretion, may terminate any flight, refuse to commence any flight, or take other action which in the considered judgment of the pilot in command is necessitated by considerations of safety.

9.Operator will provide such additional insurance coverage as User shall request or require; provided, however, that the cost of such additional insurance may be borne by User as set forth in paragraph 2(d) hereof.

10.User warrants that:

		
	(a)
	he will use the Aircraft for and on account of his own personal business or pleasure only, and will not use the Aircraft for the purposes of providing transportation for passengers or cargo in air commerce for compensation or hire; and

		
	(b)
	during the term of this Agreement, he will abide by and conform to all such laws, governmental and airport orders, rules and regulations, as shall from time to time be in effect relating in any way to the operation and use of the Aircraft by a time sharing User.

11.Neither this Agreement nor either party's interest herein shall be assignable to any other party.  Any purported assignment shall be null and void.  This Agreement shall inure to the benefit of and be binding upon the parties hereto, their 

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heirs, representatives and successors.
12.No provision of this Agreement may be amended unless such amendment is agreed to in writing and signed by the parties.
13.Nothing herein shall be construed to create a partnership, joint venture, franchise, employer-employee relationship or to create any relationship of principal and agent.
14.This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Virginia, without regard to its choice of law provisions.
15.TRUTH IN LEASING STATEMENT UNDER SECTION 91.23 OF THE FEDERAL AVIATION REGULATIONS (“FAR”).
		
	(A)
	ALTRIA CLIENT SERVICES INC. (“OPERATOR”) HEREBY CERTIFIES THAT THE AIRCRAFT HAVE BEEN INSPECTED AND MAINTAINED WITHIN THE 12 MONTH PERIOD PRECEDING THE DATE OF THIS AGREEMENT IN ACCORDANCE WITH THE PROVISIONS OF FAR PART 91 AND ALL APPLICABLE REQUIREMENTS FOR THE MAINTENANCE AND INSPECTION THEREUNDER HAVE BEEN MET.

		
	(B)
	ALTRIA CLIENT SERVICES INC. WITH AN ADDRESS OF 6601 WEST BROAD STREET; RICHMOND, VA 23230 (“OPERATOR”) AGREES, CERTIFIES AND KNOWINGLY ACKNOWLEDGES THAT WHEN THE AIRCRAFT ARE OPERATED UNDER THIS AGREEMENT, IT SHALL BE KNOWN AS, CONSIDERED, AND SHALL IN FACT BE THE OPERATOR OF THE AIRCRAFT, AND THAT ALTRIA CLIENT SERVICES INC. UNDERSTANDS ITS RESPONSIBILITIES FOR COMPLIANCE WITH APPLICABLE FEDERAL AVIATION REGULATIONS.

		
	(C)
	THE PARTIES UNDERSTAND THAT AN EXPLANATION OF FACTORS AND PERTINENT FEDERAL AVIATION REGULATIONS BEARING ON OPERATIONAL CONTROL CAN BE OBTAINED FROM THE NEAREST FAA FLIGHT STANDARDS DISTRICT OFFICE.

		
	(D)
	USER AND OPERATOR CERTIFY THAT THEY SHALL COMPLY WITH THE TRUTH-IN-LEASING REQUIREMENTS DEFINED IN EXHIBIT B ATTACHED HERETO.

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IN WITNESS WHEREOF, the parties hereto have caused the signatures of their authorized representatives to be affixed below on the day and year first above written.  The persons signing below warrant their authority to sign.
	
		
	Operator:

ALTRIA CLIENT SERVICES INC.

By:       /s/ RODGER W. ROLLAND      
Name: Rodger W. Rolland
Title:    Vice President, Compensation,
            Benefits & HR Services
	User:

/s/ MARTIN J. BARRINGTON   
Martin J. Barrington

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EXHIBIT A

	
			
	Registration Number
	Serial Number
	Aircraft Description

	N802AG
	5,245
	2009 Gulfstream Aerospace Corporation G550 Aircraft

	N803AG
	4,194
	2010 Gulfstream Aerospace Corporation G450 Aircraft

	N804AG
	4,199
	2010 Gulfstream Aerospace Corporation G450 Aircraft

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EXHIBIT B
INSTRUCTIONS FOR COMPLIANCE WITH
TRUTH IN LEASING REQUIREMENTS

		
	1.
	Mail a copy of the Time Sharing Agreement to the following address via certified mail, return receipt requested, immediately upon execution of the Agreement (14 C.F.R. 91.23(c)(1) requires that the copy be sent within twenty-four (24) hours after it is signed):  

Federal Aviation Administration
Aircraft Registration Branch
ATTN:  Technical Section
P.O. Box 25724
Oklahoma City, Oklahoma 73125

		
	2.
	At least forty-eight (48) hours prior to the first flight made under this Agreement, User shall give notice of the proposed flight by telephone, fax or in person to the FAA Flight Standards District Office located nearest the flight.  

		
	3.
	Operator shall carry a copy of the Agreement in the Aircraft at all times when the Aircraft is being operated under the Agreement.  The Agreement shall be made available for review upon request by the Administrator of the Federal Aviation Administration.  

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