SEC Contract Filing

Filing Date: 2016-05-13

Document Content:
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<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>a16-11230_1ex10d3.htm
<DESCRIPTION>EX-10.3
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<p align="right" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.3</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2016 DIRECTOR&#146;S RESTRICTED STOCK UNIT (&#147;RSU&#148;) AWARD AGREEMENT</font></b></p>
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<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This AGREEMENT (this &#147;<u>Agreement</u>&#148;), effective as of the date indicated on the Notice of Grant delivered herewith (the &#147;<u>Notice of Grant</u>&#148;), is made and entered into by and between Dean Foods Company, a Delaware corporation (the &#147;<u>Company</u>&#148;), and the individual named on the Notice of Grant (&#147;<u>you</u>&#148;).</font></p>
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<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WITNESSETH:</font></p>
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<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Board of Directors of the Company has adopted and approved the Dean Foods Company 2016&#160; Stock Incentive Plan, as amended (the &#147;<u>Plan</u>&#148;), which Plan was approved as required by the Company&#146;s stockholders and provides for the grant of Restricted Stock Units and other forms of stock-based compensation to certain selected Employees and non-employee Directors of the Company and its Subsidiaries (capitalized terms used and not otherwise defined in this Agreement shall have the meanings set forth in the Plan); and</font></p>
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<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Restricted Stock Units and other Awards provided for under the Plan are intended to comply with the requirements of Rule&nbsp;16b-3 under the Securities Exchange Act of 1934, as amended; and</font></p>
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<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, you are a non-employee Director; and</font></p>
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<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Committee has awarded to you the Restricted Stock Units, which are referred to in this Agreement as RSUs, described in this Agreement and in the Notice of Grant.</font></p>
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<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements herein contained, you and the Company hereby agree as follows:</font></p>
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<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.&#160; <u>Grant of Award</u>.&#160; The Company hereby grants to you, and you hereby accept, subject to the terms and conditions set forth in the Plan and in this Agreement, the number of RSUs shown on the Notice of Grant, effective as of the date indicated on the Notice of Grant (the &#147;<u>Date of Grant</u>&#148;).&#160; Each RSU represents the right to receive one share of the Company&#146;s Stock, subject to the terms and conditions set forth in the Plan and in this Agreement.&#160; The shares of Stock that are issuable upon vesting of the RSUs granted to you pursuant to this Agreement are referred to in this Agreement as the &#147;<u>Shares</u>.&#148;&#160; Subject to the provisions of <u>Sections 2(c)</u>&nbsp;and <u>3(b)</u>&nbsp;hereof, this Award of RSUs is irrevocable and is intended to conform in all respects with the Plan.</font></p>
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<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2. <u>Vesting</u>.</font></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:45.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&nbsp;<u>Regular Vesting</u>.&#160; Except as otherwise provided in the Plan or in this <u>Section&nbsp;2</u>, your RSUs will <b>vest r