Document:

Exhibit

Exhibit 10.2 

FORM OF RESTRICTED STOCK GRANT AGREEMENT
WASHINGTON FEDERAL, INC.

 
THIS AGREEMENT is made this_________ (hereinafter referred to as the “Date of Grant”) by and between Washington Federal, Inc. (the “Company”) and _________, an employee of the Company (the “Employee”)
WHEREAS, the employee is currently xxxxxxx officer title of the Company; and
WHEREAS, the Company desires to grant the Employee xxxx shares of restricted common stock, as described herein, pursuant to the Washington Federal, Inc. 2011 Incentive Plan (the “Plan”)  Capitalized terms not otherwise defined herein shall have the meaning set forth in the Plan.
NOW, THEREFORE, in consideration of the mutual covenant hereinafter set forth and for other good and valuable consideration, the Company and the Employee agree as follows:
		
	1.
	Restricted Stock Grant. The Company hereby grant to Employee an award consisting of a total of x,xxx shares of common stock, $1.00 par value per share, of the Company, upon the terms and conditions contained in this Agreement and the Plan (“Restricted Stock Award”).

		
	2.
	Restriction Period. The maximum restriction period applicable to the Restricted Stock Award granted hereunder is xxx (x) years, except as otherwise provided herein. On 10/31/xx, provided that the Employee remains in the continuous service of the Company through such date, one-________ (1/__) of the shares of Restricted Stock Award shall be released from restriction, distributed to the Employee and be vested and unrestricted.  On each of October 31, 20xx, October 31, 20xx (add year for second (2nd), third (3rd), etc. vesting dates), provided that the Employee remains in the continuous service of the Company through each such date, an additional one-_____ (1/__) of the Restricted Stock Award shall be released from restriction, distributed to the Employee and be vested and unrestricted. If the service of the Employee is terminated prior to the date any Restricted Stock Award is vested for any reason (except as specifically provided in Sections 3 and 4 below), the Employee shall forfeit the right to any shares of the Restricted Stock Award that have not theretofore been earned and vested.

 Any stock dividends paid in respect of unvested Restricted  Stock Award shall be treated as additional Restricted Stock and shall be subject to the same restrictions and other terms and conditions that apply to the unvested Restricted Stock in respect of which such stock dividends are issued
		
	3.
	Death and Disability. Notwithstanding Section 2 above, all shares of the Restricted Stock Award shall be deemed to be vested and unrestricted and shall be distributed to the Employee or his heirs, as applicable, in the event that the service of the Employee terminates due to death or “Disability,” as defined in the Plan, as of the Employee’s last day of service with the Company.

		
	4.
	Change in Control. Notwithstanding Section 2 above, all shares of the Restricted Stock Award shall be deemed to be vested and unrestricted and shall be distributed to the Employee in the event of a “Change in Control” of the Company, as defined in the Plan, as of the effective date of such Change in Control.

		
	5.
	Delivery of Stock. Whenever shares of the Restricted Stock Award are released from restriction, the Company shall, subject to the implementation of an arrangement between the Company and the Employee to effect all necessary tax withholding, issue a certificate to the Employee for such unrestricted shares. Such certificate shall, however, reflect any applicable restrictions under federal securities laws. The Company shall follow all requisite procedures to deliver such certificates to the Employee; provided, however, that such delivery may be postponed to enable the Company to comply with any applicable procedures, regulation or listing requirements of any governmental agency, stock exchange or regulatory agency.

		
	6.
	 Shareholders Rights.    Employee will not be paid cash dividends or be entitled to vote on unvested shares of the Restricted Stock Award until such shares have vested as set forth herein.

		
	7.
	Employment at Will.  THE EMPLOYEE ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE PLAN, AND THE TRANSACTIONS CONTEMPLATED HEREUNDER DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED EMPLOYMENT OR SERVICE WITH THE 

COMPANY FOR ANY PERIOD AT ALL, AND SHALL NOT INTERFERE WITH THE EMPLOYEE’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE THE EMPLOYEE’S RELATIONSHIP WITH THE COMPANY AT ANY TIME, WITH OR WITHOUT CAUSE OR NOTICE.

By your signature and the Company’s signature below, you and the Company agree that these restricted shares are granted under and governed by the terms and conditions of the Plan, as amended and this Agreement, all of which are attached and made a part of this document.

	
					
	WASHINGTON FEDERAL, INC.
	 
	EMPLOYEE
	 

	_____________________________
	 
	_____________________________

	Chief Executive Officer
	 
	[Name]Exhibit

Exhibit 10.3

Form of Stock Option Agreement
Washington Federal, Inc.
ID: 91-1661606
425 Pike St
Seattle, WA 98101

Employee Name        Award Number:         Award Number
Employee Address         Plan:                Plan Identification
ID:                ID Number 

Effective XX/XX/XX (the “Grant Date”), you have been granted a(n) incentive stock option by Washington Federal, Inc. (the “Company”) to buy from the Company XXXXX shares of Common Stock at a price of $XX.XX per share (the “Option”).

The Option is granted pursuant to the Washington Federal, Inc. 2011 Incentive Plan (the “Plan”).  Capitalized terms that are used but not defined in this Agreement will have the meanings given those terms in the Plan.

Vesting.  The Option will vest XX% on each of the ___________________ anniversaries of the Grant Date [vesting from three to seven years] provided, however, that immediately prior to a Change in Control (as defined in the Plan), or upon the termination of your Service because of your death or Disability, all of the unvested shares shall become vested.  

After your Service to the Company terminates for any reason, the Option will thereafter be exercisable only for the shares for which it was vested and exercisable on the date of termination.

Your Option will terminate as provided in the Plan.  

THIS AGREEMENT, THE PLAN, AND THE TRANSACTIONS CONTEMPLATED HEREUNDER DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED EMPLOYMENT OR SERVICE WITH THE COMPANY FOR ANY PERIOD AT ALL, AND SHALL NOT INTERFERE WITH THE EMPLOYEE’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE THE EMPLOYEE’S RELATIONSHIP WITH THE COMPANY AT ANY TIME, WITH OR WITHOUT CAUSE OR NOTICE.

By your signature and the Company’s signature below, you and the Company agree that these options are granted under and governed by the terms and conditions of the Plan, as amended and this Agreement, all of which are attached and made a part of this document.

	
					
	WASHINGTON FEDERAL, INC.
	 
	EMPLOYEE
	 

	_____________________________
	 
	_____________________________

	Chief Executive Officer
	 
	[Name]Exhibit

Amendment to Employment Agreement
(Katherman)

This AMENDMENT TO EMPLOYMENT AGREEMENT (this “Amendment”) is entered into as of October 19, 2016, by and between Fox Factory Holding Corp., a Delaware corporation (the “Company”), and Bill Katherman, an individual (“Executive”), amends that certain Employment Agreement dated as of February 20, 2014 by and between the Company and Executive (the “Original Agreement”) and shall be effective immediately (the “Effective Date”). All terms not otherwise defined herein shall have the meanings ascribed thereto in the Original Agreement.

RECITALS

WHEREAS, the parties hereto desire to amend certain provisions of the Original Agreement in accordance with the terms of this Amendment;
NOW, THEREFORE, in consideration of the mutual premises and the respective mutual agreements contained herein, the parties to this Amendment agree as follows:
Section 1.     Amendments. Section (3)(b) of the Original Agreement is hereby deleted and replaced with the following:
“(b) Performance Bonus. Beginning with the fiscal year ending December 31, 2016, Executive will be eligible to receive a bonus (the “Performance Bonus”) based on three levels: minimum, target and maximum. The bonus for Executive at each level will be based on the achievement of EBITDA targets (the “EBITDA Bonus”). The term “Executive’s Base Salary” means the Executive’s actual base salary, exclusive of any other compensation received by Executive regardless of form, in effect at the time the Performance Bonus is to be calculated. The term “EBITDA” means the earnings before interest, taxes, depreciation and amortization of the Company on a consolidated basis, calculated in accordance with generally accepted accounting principles utilized in determining the Target EBITDA (as defined below) and applied on a consistent basis. Furthermore, non-operating income, currency translation impact, gains and losses attributable to the disposal of Company and/or its Subsidiaries’ assets, management fees paid to Compass Group Management LLC or any affiliate thereof, and stock compensation expenses shall be excluded from the calculation of EBITDA in accordance with generally accepted accounting principles. Additionally, from time to time the Compensation Committee, in its sole discretion, may elect to exclude other non-recurring expenses from the calculation of EBITDA. All determinations of EBITDA shall be derived from the Company’s annual audited financial statements and determined by the Compensation Committee, whose determination shall be conclusive and final. Each Performance Bonus under this Section 3(b) shall be paid in cash, in a lump sum, within the same calendar year in which the Company receives its audited financials for such fiscal year. 

(i) Minimum Target. If, for a particular year, the Company’s EBITDA for the year is less than Target EBITDA (as defined below) but equals or exceeds 90% of Target EBITDA, then Executive’s EBITDA Bonus shall be equal to the product of (A) 25% plus the product of 2.5% times each full one percentage point positive variance to 90% of Target EBITDA, times (B) Executive’s Base Salary. For example, if actual EBITDA is 97.6% of Target EBITDA, then Executive’s EBITDA Bonus shall be equal to 42.5% times Executive’s Base Salary (25% + (2.5% x 7) = 42.5%). For clarity, if EBITDA is under 90% of Target EBITDA, then Executive shall not receive any bonus based on EBITDA.

(ii) Target Level. If, for a particular year, the Company’s EBITDA for the year is more than Target EBITDA but less than 110% of Target EBITDA, then Executive’s EBITDA Bonus shall be equal to the product of (A) 50% plus the product of 2.5% times each full one percentage point positive variance to Target EBITDA, times (B) Executive’s Base Salary. For example, if actual EBITDA is 107.6% of Target EBITDA, then Executive’s EBITDA Bonus shall be equal to 67.5% times Executive’s Base Salary (50% + (2.5% x 7) = 67.5%).

(iii) Maximum Target. If, for a particular year, the Company’s EBITDA for the year equals or exceeds 110% of Target EBITDA, then Executive’s EBITDA Bonus shall be equal to (A) 75% times (B) Executive’s Base Salary.
 
(iv) Definition of Target EBITDA. For purposes of this Agreement, “Target EBITDA” means, for each fiscal year, the EBITDA set forth in the operating budget of the Company, as approved by the Board, for the particular year.

(v) Performance Bonus Pro-Rating.  If the Executive was an employee for less than the entire fiscal year on which the Performance Bonus is based, the Executive’s Performance Bonus shall be pro-rated by multiplying (A) the bonus Executive would otherwise have received if Executive had been an employee for the entire fiscal year by (B) a fraction, the numerator of which is the number of days from (and including) the Effective Date through (and including) December 31st of the fiscal year, and the denominator of which is 365. The Executive’s Performance Bonus for fiscal year 2016 shall be calculated at set forth in this Amendment, and shall not be pro-rated for the portion of fiscal year 2016 during which this Amendment did not control.

(vi) Continued Employment Requirement. In order to encourage and reward longevity, except as otherwise specifically provided in Section 4(b)(ii) hereof, Executive shall not be entitled to any Performance Bonus unless Executive is employed by the Company on the day on which the Company actually pays performance bonuses to its executives.”

 Section 2.    Effect on Original Agreement.  On and after the Effective Date, each reference in the Original Agreement to “this letter”, “hereunder”, “hereof”, “herein” or words of similar import shall mean and be a reference to the Original Agreement as amended hereby.  Except as specifically modified by the terms of this Amendment, all of the terms, provisions, covenants, warranties and agreements contained in the Original Agreement shall remain in full force and effect and are hereby ratified.

Section 3.    Governing Law.  This Amendment shall be construed under and shall be governed by the laws of the State of California.  
Section 4.    Counterparts.  This Amendment may be executed in one or more counterparts, each of which will be deemed to be an original copy of this Amendment and all of which, when taken together, will be deemed to constitute one and the same agreement.

[Signature Page Follows] 

IN WITNESS WHEREOF, the undersigned have executed and delivered this Amendment as of the date first above written.

The Company

Fox Factory Holding Corp., 
a Delaware corporation 

By:_/s/ Larry Enterline____________
Name: Larry Enterline
Title: Chief Executive Officer 

The Executive 

/s/ Bill Katherman _______________
Name: Bill Katherman

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