SEC Contract Filing

Filing Date: 2017-11-21

Document Content:
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<TYPE>EX-10.38B
<SEQUENCE>5
<FILENAME>a1038btermsofrestrictedsto.htm
<DESCRIPTION>EXHIBIT 10.38B
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<div><a name="sf406e6dd4a1440cd924288bcbebacdd3"></a></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.38b</font></div></div><div><br></div><div style="line-height:120%;text-align:right;"><img src="restrictedstock01.jpg" alt="restrictedstock01.jpg" style="height:90px;width:172px;"></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">TIFFANY &amp; CO.</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">a Delaware Corporation</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">TERMS OF RESTRICTED STOCK UNIT GRANT</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">under the</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;&#32;2017 DIRECTORS EQUITY COMPENSATION PLAN</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">(the &#8220;Plan&#8221;)</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Terms Effective November 16, 2017</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">1. </font><font style="font-family:inherit;font-size:11pt;font-style:italic;">Introduction and Terms of Grant</font><font style="font-family:inherit;font-size:11pt;">. Participant has been granted (the &#8220;Grant&#8221;) Restricted Stock Units which shall be settled by the issuance and delivery of shares of Common Stock (&#8220;Shares&#8221;), subject to the terms and conditions set forth below. The Grant has been made under the Plan by the Nominating/Corporate Governance Committee of the Parent Board (the &#8220;Governance Committee&#8221;). The &#8220;Participant,&#8221; &#8220;Grant Date&#8221; and number of &#8220;Restricted Stock Units&#8221; granted are stated in the attached &#8220;Notice of Grant.&#8221; The other terms and conditions of the Grant are stated in this document and in the Plan. </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">2. </font><font style="font-family:inherit;font-size:11pt;font-style:italic;">Grant and Adjustment</font><font style="font-family:inherit;font-size:11pt;">. Subject to the terms and conditions stated in this document, Participant has been granted Restricted Stock Units by Parent. As of the Grant Date, each Restricted Stock Unit has a settlement value of one Share, but the number of Shares which shall be issued and delivered pursuant to the Grant on the Maturity Date (the &#8220;Settlement Value&#8221;) shall be equal to (i) the number of Restricted Stock Units set forth in the Notice of Grant, plus (ii) the number of whole Dividend Equivalent Units credited pursuant to Section 6(b) with respect to such Restricted Stock Units. The Settlement Value shall be subject to further adjustment as provided in Section 4.2(c) of the Plan, to adjust for, among other corporate developments, stock splits and stock dividends. References to Settlement Values in this document shall be deemed references to Settlement Values as adjusted pursuant to this Section 2. </font></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">3. </font><font style="font-family:inherit;font-size:11pt;font-style:italic;">&#32;Vesting. </font><font style="font-family:inherit;font-size:11pt;">&#32;&#32;Except as otherwise provided in this Section 3 or Section 5 below, Restricted Stock Units granted will vest in full (100%) on the one-year anniversary of the Grant Date. A Restricted Stock Unit shall not vest and will be deemed to have &#8220;expired&#8221; if Participant&#8217;s Director Termination Date occurs before the one-year anniversary of the Grant Date unless such Director Termination Date occurs by reason of death or Disability, in which case the Grant shall vest on said Director Termination Date. A Restricted Stock Unit which fails to vest shall be void and shall not confer upon the owner of such Restricted Stock Unit any rights, including any right to any Share, any Deferred Stock Unit or any Dividend Equivalent Unit.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">4. </font><font style="font-family:inherit;font-size:11pt;font-style:italic;">Maturity and Deferred Stock Units. </font><font style="font-family:inherit;font-size:11pt;">Except as provided in this S