Document:

PLXS F13 10-K Exhibit 10.9(b)(vii)

Exhibit 10.9(b)(vii)
PLEXUS CORP. 
PERFORMANCE STOCK UNIT AGREEMENT
TO:        
DATE:        
In order to provide additional incentive through stock ownership for certain officers and key employees of Plexus Corp. (the “Corporation”) and its subsidiaries, you (the “Grantee”) are hereby granted a performance stock unit award (“Award”) effective as of __________, 20__ (the “Grant Date”).  This Award is subject to the terms and conditions set forth in this Agreement and in the Plexus Corp. 2008 Long-Term Incentive Plan (the “Plan”), the terms of which are incorporated herein by reference. 
1.Target Number of Performance Stock Units.
This Award applies to performance stock units that are based upon shares of the Corporation’s Common Stock (the “Performance Stock Units”).  The Performance Stock Units granted under this Agreement are units that will be reflected in a book account maintained by the Corporation until they become earned or have been forfeited.  The number of Performance Stock Units at target is as follows:
Number of Performance Stock Units (at target):  ______________________
2.    Performance Terms.
(a)    The terms of this Section 2 will apply to your Performance Stock Units except in so far as Section 3 ("Treatment Upon Termination") or Section 5 ("Change in Control") apply. 
(b)    The Performance Period for your Performance Stock Units will be the three-year period commencing ________________, 20__ and ending ________________, 20__.  Following the conclusion of the Performance Period, the Committee shall certify in writing the number of Performance Stock Units which are payable (your “Final Performance Stock Units”).  The Committee will calculate your Final Performance Stock Units by multiplying your Performance Stock Units (at target) by the “Performance Factor.” The Performance Factor means a percentage (from zero to 200%) which is based on the Corporation’s Total Shareholder Return during the Performance Period compared to the companies in the Russell 3000 Index, determined according to Table 1 of this Agreement. 
(c)    All determinations made by the Committee shall be binding and conclusive on all parties. 
3.    Treatment Upon Termination.  If your employment with the Corporation terminates prior to the end of the Performance Period, your Final Performance Stock Units will be calculated as follows: 

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(a)    Death, Disability. In the event your employment terminates during the Performance Period as a result of your death or disability (as defined in the Corporation's long-term disability plan), your Final Performance Stock Units will be based upon the Corporation's Total Shareholder Return through the end of fiscal quarter preceding your termination of employment and the Award will be prorated.  Your Final Performance Stock Units will be determined by multiplying your Performance Stock Units (at target) by the Performance Factor by a fraction, the numerator of which is the number of days elapsed between the beginning of the Performance Period and the date of your death or disability, and the denominator of which is the number of days in the Performance Period. 
(b)    Retirement. In the event your employment terminates during the Performance Period without Cause on or after age 55 and after you have been employed by the Corporation for at least 5 consecutive years immediately prior to your termination (a "Retirement"), your Final Performance Stock Units will be based upon the Corporation's Total Shareholder Return for the full Performance Period and the Award will be prorated based on your date of Retirement.  The Committee will determine your Final Performance Stock Units by multiplying your Performance Stock Units (at target) by the Performance Factor by a fraction, the numerator of which is the number of days elapsed between the beginning of the Performance Period and the date of your Retirement, and the denominator of which is the number of days in the Performance Period. 
(c)    Termination for Cause. In the event your employment is terminated during the Performance Period for Cause, your Performance Stock Units will be forfeited immediately.
(d)    Other Termination (Without Cause or Resignation).  In the event your employment terminates during the Performance Period for any other reason, your Performance Stock Units will be forfeited immediately unless otherwise determined by the Committee.  
4.    Payment of Awards. 
Except for payments pursuant to Section 5 ("Change in Control"), your Final Performance Stock Units shall be paid in the form of Common Stock and all payments will be made to you within two and a half months after the end of the Performance Period (or earlier termination of employment pursuant to Section 3). 
5.    Change in Control.  In the event of a Change in Control:
(a)    The Performance Factor shall be calculated as if the date of the Change in Control is the last day of the Performance Period.  Your Final Performance Share Units will be equal to the number of Performance Stock Units (at target) times the calculated Performance Factor.  
(b)    Within 15 days following the Change in Control, your Final Performance Stock Units will be paid in the form of Common Stock or common stock of any successor corporation; provided that the Corporation may elect to pay an amount of cash equal to the value of the Common Stock that would otherwise be issued.  The value shall be equal to the number of shares of Common Stock that would be issued times the Fair Market Value of the Common Stock at the time of the Change in Control. 

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6.    Rights Prior to Payment.
Prior to any payment of the Award, you will not have any right to vote the Performance Stock Units or to receive credit for cash dividends.  You will not be deemed a stockholder of the Corporation with respect to any of the Performance Stock Units.  The Performance Stock Units may not be sold, assigned, transferred, pledged, encumbered or otherwise disposed of prior to payment.  
7.    Tax Withholding.
The Corporation shall have the power and right to deduct or withhold, or require you to remit to the Corporation, an amount sufficient to satisfy Federal, state and local taxes required by law to be withheld with respect to issuance of shares under this Agreement.  You may make a written election to satisfy this withholding requirement, in whole or in part, by having the Corporation withhold shares having a Fair Market Value on the date the tax is to be determined equal to the minimum marginal total tax which could be imposed on the transaction.
8.    Transfer Restrictions After Issuance.
Under applicable securities laws, you may not be able to sell any shares for a period of time after issuance, and you must comply with the Corporation’s Insider Trading Restrictions and Policies.  The Corporation’s counsel should be consulted on your ability to sell your shares under the 1934 Act. 
9.    No Employment Agreement Intended.
Neither the establishment of, nor the awarding of Awards under this Plan shall be construed to create a contract of employment between you and the Corporation or its subsidiaries; nor does it give you the right to continue in the employment of the Corporation or its subsidiaries or limit in any way the right of the Corporation or its subsidiaries to discharge you at any time and without notice, with or without cause, or to any benefits not specifically provided by this Plan, or in any manner modify the Corporation’s right to establish, modify, amend or terminate any profit sharing, retirement or other benefit plans.
10.    Section 409A Compliance.
This Award is intended to comply with the requirements of Section 409A, and shall be interpreted and administered in accordance with that intent. If any provision of the Plan or this Agreement would otherwise conflict with or frustrate this intent, the Committee may adopt such amendments to the Plan and the Agreement as the Committee deems necessary.
11.    Wisconsin Contract.
This Agreement reflects an Award made in Wisconsin and shall be construed under the laws of that state without regard to the conflict of laws provision of any jurisdiction. 

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To accept this grant, logon to your E*TRADE account (www.etrade.com).  By accepting this grant online you acknowledge and accept this grant and the terms and conditions.  You also acknowledge receipt of this Performance Stock Unit Agreement, a copy of the 2008 Long-Term Incentive Plan, and a copy of the Insider Trading Restrictions and Policies.  If this grant is not accepted online within thirty (30) days from the grant date of this Agreement, this Award will be deemed refused and may be withdrawn. 
PLEXUS CORP.
By: _____________________ 
    

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Table 1
Determination of Performance Factor

The Performance Factor shall be determined according to the following table:
	
					
	 
	 
	 

	Relative TSR
	 
	Payout

	Percentile Rank*
	 
	Performance Factor

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

*TSR shall be based on the percentage increase/decrease from the Initial Price to the Final Price, and shall reflect the reinvestment of dividends paid (if any) to Common Shareholders during the Measurement Period.

Note:  Payouts for performance between the percentages listed above will be interpolated.

For purposes of the foregoing calculation:

1.    “Total Shareholder Return” mean the quotient (expressed as a percentage) obtained by dividing (i)(A) the Final Price, plus (B) the aggregate amount of dividends paid in respect of a share of Common Stock during the Measurement Period (assuming reinvestment of the dividends), minus (C) the Initial Price, by (ii) the Initial Price.  The calculation of Total Shareholder Return shall be adjusted to reflect stock splits, recapitalizations and similar events.

2.    “Initial Price” means the average closing price of Common Stock over the thirty calendar day period ending on the trading day immediately preceding the first day of the Performance Period. 

3.    “Final Price” means the average closing price of Common Stock over the thirty calendar day period ending on the last day of the Measurement Period. 

4.    "Measurement Period" means the Performance Period; provided that in the event of the Grantee's termination of employment during the Performance Period due to the Grantee's death or disability (Section 3(a)), Total Shareholder Return shall be calculated through the end of the fiscal quarter immediately preceding the Grantee's termination of employment and in the event of a Change in Control, Total Shareholder Return shall be calculated through the date of the Change in Control.

5.    The Total Shareholder Return of Plexus and each of the companies in the Russell 3000 Index constituent companies shall be determined as those companies in the Russell 3000 Index at the end of the performance period having a price history from the beginning of the performance period.FY 2013 10-K EX 10.8.9

JACK IN THE BOX INC.
STOCK OPTION AND PERFORMANCE SHARE AWARD AGREEMENT
UNDER THE 2004 STOCK INCENTIVE PLAN
This Stock Option and Performance Share Award Agreement (the “Agreement”) is made and entered into effective as of November 26, 2012 (the “Grant Date”) by and between Jack in the Box Inc., a Delaware corporation (the “Company”), and «Name» (the “Awardee”).
RECITALS
The Compensation Committee (the “Committee”) of the Board of Directors of the Company (the “Board”) which administers the Company’s 2004 Stock Incentive Plan, as amended from time to time (the “Plan”), has granted to the Awardee as of the Grant Date this award of Stock Options (the “Option”) and Performance Shares (the “PSU Award”) (collectively, the “Award”) on the terms and conditions set forth herein.  
AGREEMENT
In consideration of the foregoing and of the mutual covenants set forth herein and other good and valuable consideration, the parties hereto agree as follows:
1CONSIDERATION.  The Option and PSU Award have been granted in consideration of the Awardee’s continued employment with the Company or a Subsidiary Corporation and acceptance by the Awardee of the terms and conditions set forth below and in the Plan.
OPTION AWARD
2.1    SHARES OPTIONED; OPTION PRICE.  The Awardee may purchase all or any part of an aggregate of «Total_Shares» shares of Stock, at the exercise price of $27.49 per share (the “Option Exercise Price”), subject to the terms and conditions set forth herein.
2.2    OPTION TERM; EXERCISABILITY.  The Option shall terminate and no portion of the Option may be exercised in whole or in part after the close of trading on the NASDAQ Stock Market on the seventh (7th) anniversary of the Grant Date, (the “Expiration Date”).
Subject to the terms and conditions described in this Agreement, the Option shall become exercisable in accordance with the schedule below:
(a)One third on November 26, 2013;
(b)One third on November 26, 2014; 
(c)One third on November 26, 2015.
2.3    EXERCISE DATES.  Subject to the terms and conditions herein and in the Plan, the Option shall become exercisable, on each of the dates and to the extent provided on each date as provided in Section 2.2 above, subject to the Awardee being continuously employed by the Company or a Subsidiary Corporation from the Grant Date through the applicable exercisability dates.  No portion of the Option will become exercisable after the Awardee’s employment ceases, except as provided below in the event that the Awardee’s employment ceases due to Disability.  Fractional shares may not be purchased or delivered hereunder.  Once exercisable and until terminated, all or any portion of the exercisable Option may be exercised from time to time and at any time under procedures that the Company shall establish from time to time, including, without limitation, procedures regarding the frequency of exercise and the minimum number of shares of Stock which may be purchased at any time.
2.4    EXERCISING THE OPTION.  This Option may be exercised only by the Awardee or his or her permitted transferees and only by the methods set forth herein.  Subject to the terms and conditions of the Plan, the Awardee may exercise all or any portion of the Option by giving notice of exercise to the Company or its designee in the manner specified from time to time by the Company, accompanied by payment or instructions for payment in full of the Option Exercise Price for the shares being purchased together with any amount which the Company may withhold upon such exercise for applicable foreign, federal (including FICA), state and local taxes.  Each such notice shall specify the number of shares of Stock to be purchased, the Option Exercise Price, the Grant Date, and such other matters as required by the Committee.
2.5    PAYMENT OF EXERCISE PRICE.  The payment of the aggregate Option Exercise Price shall be made by means of a payment under an arrangement with the Company’s designated broker where payment is made pursuant to an irrevocable commitment by the broker to deliver to the Company the proceeds from the sale of the Stock issuable upon exercise of the Option.
		
	2.6
	TERMINATION OF EMPLOYMENT. 

(a)Termination for Cause.  If the Awardee ceases to be employed by the Company or a Subsidiary Corporation because of the Awardee’s discharge for cause, as determined by the Committee in its sole discretion, then this Option shall expire immediately upon such cessation of employment.  
(b)Termination of Employment in General.  If the Awardee ceases to be employed by the Company or a Subsidiary Corporation because of the Awardee’s cessation of employment for any reason other than termination for cause, Retirement, death, or Disability, then the portion of this Option, if any, that is not then exercisable shall terminate immediately and the portion of this Option, if any, that is then exercisable shall expire ninety days following such cessation of employment, but not later than the Expiration Date.  During such period after the Awardee ceases to be an employee, this Option shall be exercisable only as to those shares, if any, with respect to which the Awardee could have exercised the Option as of the date of such cessation of employment.  
(c)Retirement.  If the Awardee ceases to be employed by the Company or any Subsidiary Corporation because of the Awardee’s Retirement, then this Option shall be exercisable only as to those shares, if any, (i) with respect to which the Awardee could have exercised the Option as of the date of such cessation of employment, and (ii) for each twelve full months during which the Awardee was in the employ of the Company or a Subsidiary Corporation an additional 5% of the aggregate number of shares covered by the Option (total exercisable shares not to exceed original grant amount), and the balance of the Option shall terminate immediately; provided, however, that all rights under the exercisable portion of the Option shall expire, in any event, on the Expiration Date specified in Section 2.2 hereof.  As used in this Agreement, “Retirement” means the Awardee’s termination of employment other than for cause (as determined by the Committee in its sole discretion) due to retirement at age 55 or older with 10 or more full years of continuous employment with the Company or a Subsidiary Corporation.
(d)Death.  If the Awardee shall die while in the employment of the Company or a Subsidiary Corporation, and such deceased Awardee shall not have suffered Disability (as defined below) within ninety days prior to death, then this Option shall be exercisable by the person or persons to whom the Awardee’s rights under the Option shall have passed by will or by applicable laws of descent and distribution, as to all shares covered by the Option without regard to the exercisability schedule; provided, however, that all rights under the Option shall expire, in any event, on the Expiration Date specified in Section 2.2 hereof.  
(e)Disability.  If the Awardee shall suffer a Disability while in the employment of the Company or a Subsidiary Corporation, this Option shall continue to become exercisable in accordance with Section 2.2 hereof for twelve months following the Awardee’s first day of absence from work with the Company or a Subsidiary Corporation due to Disability; provided, however, that all rights under the Option shall expire, in any event, on the Expiration Date specified in Section 2.2 hereof.  As used in this Agreement, “Disability” means a physical or mental condition that results in a total and permanent disability to such extent that the person is eligible for disability benefits under the federal Social Security Act.   
2.7    BUY OUT OF OPTION GAINS.  At any time after an Option becomes exercisable, the Committee shall have the right to elect, in its sole discretion and without the consent of the holder thereof, to cancel such Option and to pay to the Awardee the excess of the fair market value of the shares of Stock covered by such Option over the Option Exercise Price of such Option at the date the Committee provides written notice (the “Buy Out Notice”) of the intention to exercise such right.  Buyouts pursuant to this provision shall be effected by the Company as promptly as possible after the date of the Buy Out Notice.  Payments of buyout amounts may be made in cash, in shares of Stock, or partly in cash and partly in shares of Stock, as the Committee deems advisable.  To the extent payment is made in Stock, the number of shares shall be determined by dividing the amount of the payment to be made by the fair market value of a share of Stock at the date of the Buy Out Notice.  In no event shall the Company be required to deliver a fractional share of Stock in satisfaction of this buy out provision.  Payments of any such buy out amounts shall be made net of any applicable foreign, federal (including FICA), state and local withholding taxes.  For the purposes of this provision, fair market value shall be equal to the average of the high and low prices at which a share of Stock is traded on the NASDAQ Stock Market on the relevant date. 
2.8    EFFECT OF CHANGE IN CONTROL.  Subject to the provisions of the Plan, in the event of a Change in Control, the Acquiring Corporation may, without the consent of the Awardee, either assume the Company’s rights and obligations under outstanding Options or substitute for outstanding Options substantially equivalent options for the Acquiring Corporation’s stock.  In the event that the Acquiring Corporation elects not to assume or substitute for outstanding Options in connection with a Change in Control, the exercisability and vesting of each such outstanding Option and any shares acquired upon the exercise thereof held by an Awardee whose employment has not terminated prior to such date shall be accelerated, effective as of the date ten (10) days prior to the date of the Change in Control. The exercise or vesting of any Option in accordance with the foregoing shall be conditioned upon the consummation of the Change in Control.  Any Options which are neither assumed or substituted for by the Acquiring Corporation in connection with the Change in Control nor exercised as of the date of the Change in Control shall terminate and cease to be outstanding effective as of the date of the Change in Control.
2.9    RESPONSIBILITY FOR EXERCISE.  The Awardee hereby acknowledges that he or she is responsible for taking any and all actions as may be required to exercise this Option in a timely manner and for properly executing any such documents as may be required for exercise in accordance with such rules and procedures as may be established by the Committee from time to time.  By signing this Agreement, the Awardee acknowledges that information regarding the procedures and requirements for exercise of the Option is available upon request.  The Company shall have no duty or obligation to notify the Awardee of the date on which this Option will expire or otherwise terminate. 
PSU AWARD
3.1    PSU AWARD.  The Committee hereby grants «PSU_Shares» Performance Shares at “target” to the Awardee on the terms and conditions set forth herein.  Each Performance Share represents an unfunded and unsecured promise of the Company to deliver a share of Stock to Awardee upon vesting, subject to the requirements set forth herein.  The actual number of shares of Stock payable, if any, to the Awardee in settlement of the PSU Award will depend on whether and to the extent that performance goals established by the Committee are attained within the applicable Performance Period (as that term is defined in Section 3.3 herein) as described in Appendix I to this Award.
3.2    VESTING.  The PSU Award shall become vested upon the achievement, if any, of Company Performance Goals (“Performance Goals”) for the Performance Period (as that term is defined in Section 3.3 herein), as described in Appendix I to this Award, the achievement of which shall be determined by the Committee after the end of the Performance Period.  No portion of the PSU Award shall become vested at any time prior to the date the Committee certifies achievement of the Performance Goals for the Performance Period.  Vesting shall also be contingent on the Awardee’s continued employment with the Company or a Subsidiary Corporation continuously from the Grant Date through the last day of the Performance Period, except as provided in Section 3.5 (Termination of Employment) of this Agreement.  If any portion of the PSU Award would otherwise become vested on a day on which the trading window is “closed” pursuant to the provisions of the Company’s Insider Trading policy, then such vesting shall automatically occur on the day after the acceptance by the SEC of the filing of the Company’s Annual Report on 10-K for the most recently ended fiscal year. Settlement of shares resulting from vesting of the PSU Award shall be in accordance with Section 3.4. 
3.3    PERFORMANCE PERIOD.  The Performance Period for the PSU Award shall be the period that begins on October 1, 2012, and ends on September 27, 2015, (the “Performance Period”).
3.4    DISTRIBUTION, TAXES AND WITHOLDING.  Subject to the provisions of this Agreement, including Sections 3.6 and 15(g), the Company shall deliver to the Awardee (through a Company-designated brokerage firm) within 30 days following the applicable PSU Award vesting date, a number of shares of Stock equal to the number of Performance Shares that became vested on such vesting date, net of any tax withholding.  
(a)    Any income taxes, FICA, state disability insurance or other similar payroll and withholding taxes (“Withholding Obligation”) arising from the receipt of Performance Shares is the sole responsibility of the Awardee. The Company, to the extent permitted by law, may deduct any Withholding Obligation arising from the receipt or vesting of the Award from any payment of any kind due to the Awardee, including the Award, and the net balance will be settled in whole shares of Stock.  If withheld in shares, such shares shall be valued at Fair Market Value, as defined in the Plan, on the applicable date for such purposes and shall not exceed in amount the minimum statutory tax Withholding Obligation.  In no event shall the Company be required to deliver a fractional share of Stock in settlement of the Award.
(b)    By accepting this Award, Awardee hereby elects, effective on the date Awardee accepts this Award, to sell shares of Stock issued in respect of the Award in an amount determined in accordance with this Section, and to allow the Agent, as defined below, to remit the cash proceeds of such sales to the Company as more specifically set forth below (a “Sell to Cover”) to permit Awardee to satisfy the Withholding Obligation to the extent the Withholding Obligation is not otherwise satisfied pursuant to the provisions of Section 3.4(c) below and further acknowledges and agrees to the following provisions:
i.    Awardee hereby irrevocably appoints the Company’s designated broker, or such other registered broker-dealer that is a member of the Financial Industry Regulatory Authority as the Company may select, as Awardee’s agent (the “Agent”), and authorizes and directs the Agent to:
1)    Sell on the open market at the then prevailing market price(s), on Awardee’s behalf, as soon as practicable on or after the date on which the shares of Stock are delivered to Awardee pursuant to this Section, the number (rounded up to the next whole number) of shares of Stock sufficient to generate proceeds to cover (A) the satisfaction of the Withholding Obligation arising from the vesting and the related issuance of shares of Stock to Awardee that is not otherwise satisfied pursuant to Section 3.4(c) hereof and (B) all applicable fees and commissions due to, or required to be collected by, the Agent with respect thereto;
2)    Remit directly to the Company and/or any Affiliate the proceeds necessary to satisfy the Withholding Obligation;
3)    Retain the amount required to cover all applicable fees and commissions due to, or required to be collected by, the Agent, relating directly to the sale; and
4)    Deposit any remaining funds in Awardee’s account.
ii.    Awardee acknowledges that Awardee’s election to Sell to Cover and the corresponding authorization and instruction to the Agent set forth in this Section is intended to comply with the requirements of Rule 10b5-1(c)(1) under the Exchange Act and to be interpreted to comply with the requirements of Rule 10b5-1(c) under the Exchange Act (Awardee’s election to Sell to Cover and the provisions of this Section, collectively, the “10b5-1 Plan”). Awardee acknowledges that by accepting this Award, he or she is adopting the 10b5-1 Plan to permit Awardee to satisfy the Withholding Obligation. Awardee hereby authorizes the Company and the Agent to cooperate and communicate with one another to determine the number of shares of Stock that must be sold pursuant to this Section to satisfy Awardee’s obligations hereunder.
iii.    Awardee acknowledges that the Agent is under no obligation to arrange for the sale of Stock at any particular price under this 10b5-1 Plan and that the Agent may effect sales as provided in this 10b5-1 Plan in one or more sales and that the average price for executions resulting from bunched orders may be assigned to Awardee’s account.  In addition, Awardee acknowledges that it may not be possible to sell shares of Stock as provided for in this 10b5-1 Plan and in the event of the Agent’s inability to sell shares of Stock, Awardee will continue to be responsible for the timely payment to the Company of all federal, state, local and foreign taxes that are required by applicable laws and regulations to be withheld.
iv.    Awardee hereby agrees to execute and deliver to the Agent any other agreements or documents as the Agent reasonably deems necessary or appropriate to carry out the purposes and intent of this 10b5-1 Plan. The Agent is a third-party beneficiary of this Section and the terms of this 10b5-1 Plan.
v.    Awardee’s election to Sell to Cover and to enter into this 10b5-1 Plan is irrevocable.  This 10b5-1 Plan shall terminate not later than the date on which the Withholding Obligation arising from the vesting of the RSUs and the related issuance of shares of Stock has been satisfied.
(c)    Alternatively, or in addition to or in combination with the Sell to Cover provided for under this Section, Awardee authorizes the Company, at its discretion, to satisfy the Withholding Obligation by the following means (or by a combination of the following means):
i.    Requiring Awardee to pay to the Company any portion of the Withholding Obligation in cash;
ii.    Withholding from any compensation otherwise payable to Awardee by the Company; and/or
iii.    Withholding shares of Stock from the shares of Stock issued or otherwise issuable to Awardee in connection with the Award with a Fair Market Value (measured as of the date shares of Stock are issued pursuant to Section 4) equal to the amount of the Withholding Obligation; provided, however, that the number of such shares of Stock so withheld shall not exceed the amount necessary to satisfy the Company’s required tax withholding obligations using the minimum statutory withholding rates for federal, state, local and foreign tax purposes, including payroll taxes, that are applicable to supplemental taxable income.
(d)    Unless the Withholding Obligations of the Company and/or any Affiliate are satisfied, the Company shall have no obligation to deliver to Awardee any Stock.
		
	3.5
	TERMINATION OF EMPLOYMENT.  

(a)    General.  Except as set forth in paragraph (b) below, if the Awardee ceases to be employed by the Company or any Subsidiary Corporation prior to the last day of the Performance Period for any reason other than termination for Retirement, Disability, or death, then the PSU Award will be forfeited to the Company immediately and automatically upon such cessation without payment of any consideration for the PSU Award, and the Awardee will have no further right, title or interest in or to the PSU Award, any Performance Shares, or any shares of Stock.

(b)    Termination due to Retirement, Disability, or Death.  If the Awardee ceases to be employed by the Company or any Subsidiary Corporation prior to the last day of the Performance Period due to the Awardee’s Retirement, Disability, or death, then provided that as of  November 26, 2013, the Awardee is still employed by the Company or a Subsidiary Corporation, and had been continuously employed by the Company or a Subsidiary Corporation since the Grant Date, this PSU Award shall become vested and payable at the end of the Performance Period as described in Section 3.4 solely based on the level of achievement of Company Performance Goals as determined by the Committee, multiplied by a fraction, the numerator of which is the number of full accounting periods the Awardee was continuously employed by the Company or a Subsidiary Corporation during the Performance Period, and the denominator of which is thirty-nine (39).  (The Company divides each of its fiscal years into 13 “accounting periods” of four or five weeks each.)

3.6    EFFECT OF CHANGE IN CONTROL.  Subject to the terms of the Plan, in the event of a Change in Control, the PSU Award held by the Awardee whose employment has not terminated prior to such date shall become payable effective as of the date of the Change in Control (except as otherwise provided in this Agreement).  For this purpose, the final value of the PSU Award shall be determined by the greater of (a) the extent to which the applicable Performance Goals have been attained during the Performance Period prior to the date of the Change in Control or (b) the pre-established 100% level with respect to each Performance Target comprising the applicable Performance Goals.  Any acceleration of the PSU Award in accordance with the foregoing shall be conditioned upon the consummation of the Change in Control.    

OPTION AND PSU AWARDS
3AWARD AS COMPENSATION.  No amount attributable to this Award shall be considered as compensation for the purposes of any other Company sponsored plan.
5    NON-TRANSFERABILITY.  Except as otherwise provided in this Paragraph, this Award is not transferable other than by will or the laws of descent and distribution.  This Award shall not be otherwise transferred, assigned, pledged, hypothecated or disposed of in any way, whether by operation of law or otherwise, and shall not be subject to execution, attachment or similar process.  Upon any attempt to transfer this Award otherwise than by will or the laws of descent and distribution or to assign, pledge, hypothecate or otherwise dispose of this Award, other than as permitted herein, or upon the levy of any execution, attachment or similar process upon this Award, this Award shall immediately terminate and become null and void.  Notwithstanding the foregoing, with the approval of the Committee, the Option may be transferred to a trust for the benefit of the Awardee or the Awardee’s “family member” as that term is defined in the General Instructions to Form S-8 Registration Statement under the Securities Act.  
6    LEGALITY.  The Company shall not be required to issue any shares of Stock subject to this Award unless and until all applicable requirements of the Securities and Exchange Commission (the “SEC”), the California Department of Corporations or other regulatory agencies having jurisdiction with respect to such issuance, and any exchanges upon which the Stock may be listed, shall have been fully complied with.  If the shares of Stock subject to this Award are being distributed subject to restrictions or if the rules and interpretations of the SEC so require, such shares may be issued only if the Awardee represents and warrants in writing to the Company that the shares are being acquired for investment and not with a view to the distribution thereof, and any certificates issued upon distribution of the shares shall bear appropriate legends setting forth the restrictions on transfer of such shares.  Such legends may not be removed until the Company so requests, based on the opinion of the Company’s counsel that the restrictions are no longer applicable.
7    ADJUSTMENTS IN STOCK; DISSOLUTION OR LIQUIDATION.  Subject to the provisions of the Plan, if the outstanding shares of the Company Stock of the class subject to this Award are increased or decreased, or are changed into or exchanged for a different number or kind of shares or securities as a result of one or more reorganizations, recapitalizations, stock splits, reverse stock splits, stock dividends and the like, appropriate adjustments, to be conclusively determined by the Committee, shall be made in the number and/or type of shares or securities subject to this Award and any fractional shares resulting from adjustments shall be rounded down to the nearest whole number.  Upon the dissolution or liquidation of the Company, the Award will terminate in full for no consideration.
8    EMPLOYMENT.  Nothing in the Plan or in this Agreement shall confer upon the Awardee any right to continue in the employment of the Company or any of its subsidiaries or interfere in any way with any right of the Company to terminate the Awardee’s employment at any time.
9    PLAN CONTROLS.  The Award and all terms and conditions set forth in this Agreement are subject in all respects to the terms and conditions of the Plan, which is incorporated herein by reference, as may be amended from time to time (but no amendment to the Plan shall adversely affect the Awardee’s rights under this Award) and any rules and regulations promulgated by the Committee, which shall be controlling.  All constructions, interpretations, rule determinations or other actions taken by the Committee shall be final, binding and conclusive on all interested parties, including the Company and its Subsidiary Corporations and all former, present and future employees of the Company or its Subsidiary Corporations.  Capitalized terms that are not defined herein shall have the definition given to them in the Plan.
10    ARBITRATION.  Any dispute or claim concerning any Awards granted (or not granted) pursuant to the Plan and this Agreement and any other disputes or claims relating to or arising out of the Plan and this Agreement shall be fully, finally and exclusively resolved by binding arbitration conducted in San Diego, California, by either (i) the American Arbitration Association in accordance with its rules and procedures, or (ii) by any party mutually agreed upon by the Committee and the claimant.  BY ACCEPTING AN AWARD, THE AWARDEE AND THE COMPANY WAIVE THEIR RESPECTIVE RIGHTS TO HAVE ANY DISPUTES OR CLAIMS TRIED BY A JUDGE OR JURY.
11    LAWS GOVERNING.  The Award and the Plan shall be construed and enforced in accordance with the laws of the State of Delaware without regard to the principles of conflicts of law.
12    RECEIPT OF PROSPECTUS.  The Awardee hereby acknowledges that he or she has received a copy of the prospectus relating to the Award and the shares covered thereby and the Plan.
13    AWARD AGREEMENT.  This Agreement has no cash value or other legal significance and the entitlement of any rights here under shall be governed by the terms of the Plan and the books and records maintained by the Company.
14    ELECTRONIC DELIVERY OF DOCUMENTS.  By signing this Agreement, the Awardee (i) consents to the electronic delivery of this Agreement, all information with respect to the Plan and the Award, and any reports of the Company provided generally to the Company’s stockholders; (ii) acknowledges that the Awardee may receive from the Company a paper copy of any documents delivered electronically at no cost to the Awardee by contacting the Company by telephone or in writing; (iii) further acknowledges that the Awardee may revoke the Awardee’s consent to the electronic delivery of documents at any time by notifying the Company of such revoked consent by telephone, postal service or electronic mail; and (iv) further acknowledges that the Awardee understands that the Awardee is not required to consent to electronic delivery of documents.

15    MISCELLANEOUS.
(a)This writing constitutes the entire agreement of the parties with respect to the subject matter hereof and may not be modified or amended except by a written agreement signed by the Awardee and the Company other than as provided in paragraph (g) below.  Anything in this Agreement to the contrary notwithstanding, any modification or amendment of this Agreement by a written agreement signed by, or binding upon, the Awardee shall be valid and binding upon any and all persons or entities who may, at any time, have or claim any rights under or pursuant to this Agreement (including all Awardees hereunder) in respect of the Award granted to the Awardee.

(b)No waiver of any breach or default hereunder shall be considered valid unless in writing and no such waiver shall be deemed a waiver of any subsequent breach or default of the same or similar nature.  Anything in this Agreement to the contrary notwithstanding, any waiver, consent or other instrument under or pursuant to this Agreement signed by, or binding upon, the Awardee shall be valid and binding upon any and all persons or entities (other than the Company) who may, at any time, have or claim any rights under or pursuant to this Agreement (including all Awardees hereunder) in respect of the Award originally granted to the Awardee.

(c)Except as otherwise expressly provided herein, this Agreement shall be binding upon and inure to the benefit of the Company, its successors and assigns, and the Awardee and his heirs, personal representatives, successors and assigns; provided, however, that nothing contained herein shall be construed as granting the Awardee the right to transfer any of his Award except in accordance with this Agreement.  If the Award is settled after the death of the Awardee, the Award shall be considered transferred to the person or persons (the “Heir”) to whom the Awardee’s rights under the Award passed by will or by the applicable laws of descent and distribution, as to all shares of Stock granted under this Award.  It shall be the responsibility of the Heir to notify the Company of any changes in address.

(d)If any provision of this Agreement shall be invalid or unenforceable, such invalidity or unenforceability shall attach only to such provision and shall not in any manner affect or render invalid or unenforceable any other severable provision of this Agreement, and this Agreement shall be carried out as if any such invalid or unenforceable provision were not contained herein.

(e)The section headings contained herein are for the purposes of convenience only and are not intended to define or limit the contents of said sections. 

(f)Each party hereto shall cooperate and shall take such further action and shall execute and deliver such further documents as may be reasonably requested by any other party in order to carry out the provisions and purposes of this Agreement.

(g)This Agreement is intended to be exempt from Section 409A of the Code.  Should any provision of this Agreement be found to be contrary to this intent, it shall be modified and given effect, in the sole discretion of the Committee and without requiring the Awardee’s consent (notwithstanding anything herein to the contrary), in such manner as the Committee determines to be necessary or appropriate to effectuate an exemption from Section 409A of the Code or comply therewith.  The Company has no duty or obligation to minimize the tax consequences to the Awardee of this Award and shall not be liable for any adverse tax consequences to the Awardee arising in connection with this Award.  

(h)This Agreement may be executed in counterparts, all of which taken together shall be deemed one original.

By accepting this PSU Award, Awardee on this date hereby: (1) elects to conduct a Sell to Cover to satisfy the Withholding Obligation  in accordance with Section 3.4 of the Agreement and (2) represents and warrants that (i) Awardee has carefully reviewed Section 3.4 of the Agreement, (ii) Awardee is not aware of any material, nonpublic information with respect to the Company or any securities of the Company, (iii) Awardee is not subject to any legal, regulatory or contractual restriction that would prevent the Agent (as defined in Section 3.4) from conducting sales and does not have, and will not attempt to exercise, authority, influence or control over any sales of Stock effected by the Agent, and (iv) it is Awardee’s intent that this election to Sell to comply with the requirements of Rule 10b5-1(c)(1) under the Exchange Act and be interpreted to comply with the requirements of Rule 10b5-1(c) under the Exchange Act.
IN WITNESS WHEREOF, the Company has caused this Award Agreement to be executed on its behalf by its President or one of its Vice Presidents and the Awardee has executed, effective on the Grant Date.
	
				
	JACK IN THE BOX INC.
	 
	AWARDEE

	 
	 
	 
	 

	Linda Lang
Chairman, CEO, and President
	 
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