SEC Contract Filing

Filing Date: 2023-01-30

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d496495dex101.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RESTRICTED STOCK AGREEMENT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(TIME VESTING) </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This
Restricted Stock Agreement (the &#147;<B>Agreement</B>&#148;), dated as of ____________, 20__ (the &#147;<B>Grant Date</B>&#148;), between Unitil Corporation (the &#147;<B>Company</B>&#148;) and ______________ (the &#147;<B>Employee</B>&#148;), an
employee of the Group (as defined in the Plan). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>WITNESSETH THAT: </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company maintains the Unitil Corporation Amended and Restated 2003 Stock Plan (the &#147;<B>Plan</B>&#148;); and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Compensation Committee (the &#147;<B>Committee</B>&#148;) of the Board of Directors of the Company has approved the grant of an
Award of Restricted Stock to the Employee upon the terms and subject to the conditions of the Plan and this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, IT
IS AGREED, by and between the Company and the Employee as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Grant of Award</U>. As of the Grant Date, the Company grants to
the Employee an Award of ___________ shares (the &#147;<B>Time Restricted Shares</B>&#148;) of the Company&#146;s common stock, no par value (the &#147;<B>Shares</B>&#148;), upon the terms and subject to the conditions set forth in this Agreement
and the Plan. The Plan is hereby incorporated herein by reference as a part of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>Representations of Employee</U>. The
Employee hereby (i)&nbsp;accepts the award of the Time Restricted Shares described in paragraph 1; (ii) agrees that the Time Restricted Shares will be held by the Employee and the Employee&#146;s successors, assigns and heirs subject to (and will
not be disposed of except in accordance with) all of the restrictions, terms and conditions contained in this Agreement; (iii)&nbsp;represents that the Employee is acquiring the Time Restricted Shares for investment and not with a view to or for
resale or distribution thereof; and (iv)&nbsp;agrees that any certificates issued for the Time Restricted Shares may bear the following legend or such other legend as the Company, from time to time, deems appropriate: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">&#147;The transfer of the Shares represented by this certificate is restricted by the terms of a Restricted Stock Agreement dated as of
__________, 20__, a copy of which is on file at the Company&#146;s principal office; no transfer of the Shares represented by this certificate shall be valid or effective until the conditions with respect to such transfer contained in the Agreement
have been met.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <U>Vesting</U>. 25% of the Time Restricted Shares shall become fully vested and nonforfeitable on each of
________, 20__, ________, 20__, ________, 20__, and ________, 20__, provided the Employee still is, and since the date of this Agreement has continuously been, employed by the Company as of such dates. In addition, upon the Employee&#146;s
termination of employment with the Company solely on account of death, Retirement or Disability, the Time Restricted Shares shall become fully vested and nonforfeitable. For purposes of this Agreement, &#147;<B>Retirement</B>&#148; means termination
of employment with the Group (i)&nbsp;on or after age 55 with at least 15&nbsp;years of employment with the Group or (ii)&nbsp;on or after age 65 with at least five years of employment with the Group. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

</DIV></Center>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <U>Restrictions</U>. The Employee may not sell, assign, transfer, pledge or otherwise
dispose of or encumber any of the Time Restricted Shares, or any interest therein, and the Time Restricted Shares shall be subject to forfeiture, until the Employee&#146;s rights in such Shares have vested in accordance with this Agreement (the
period of time until the Time Restricted Shares have vested is referred to as the &#147;<B>Period of Restriction</B>&#148;). Any purported sale, assignment, transfer, pledge or other disposition or encumbrance in violation of this Agreement will be
void and of no effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman