SEC Contract Filing

Filing Date: 2020-02-18

Document Content:
<DOCUMENT>
<TYPE>EX-10.37
<SEQUENCE>3
<FILENAME>ex1037rsuaward.htm
<DESCRIPTION>EXHIBIT 10.37
<TEXT>
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<div><a name="sb6af05288eb24946a602cf2ff243ed66"></a></div><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Exhibit 10.37</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:13px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">AUTONATION, INC.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">RESTRICTED STOCK UNIT AWARD AGREEMENT</font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THIS RESTRICTED STOCK UNIT AWARD AGREEMENT</font><font style="font-family:inherit;font-size:10pt;">&#32;(this &#8220;Agreement&#8221;) is entered into as of January 13, 2020 (the &#8220;Date of Grant&#8221;), by and between the Company and Joseph T. Lower (the &#8220;Participant&#8221;) who accepts the Award of Restricted Stock Units (the &#8220;RSUs&#8221;) made hereby, and agrees to be bound by this Agreement, through Merrill Lynch&#8217;s Benefits OnLine System (the &#8220;BOL System&#8221;). </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">If the Participant does not accept this Award and any and all related documents provided on the BOL System by January 31, 2020 (the &#8220;Acceptance Deadline&#8221;), the RSUs shall be immediately forfeited and surrendered to the Company, and such RSUs shall cease to remain outstanding.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Recitals</font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;text-indent:46px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">A.&#160;&#160;&#160;&#160;The Company has established the AutoNation, Inc. 2017 Employee Equity and Incentive Plan (the &#8220;Plan&#8221;) in order to provide valued employees of the Company incentives to create and maintain long-term stockholder value; and </font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;text-indent:46px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">B.&#160;&#160;&#160;&#160;The Compensation Committee of the Board of Directors of the Company has approved the grant to the Participant of RSUs on the terms and conditions set forth in this Agreement.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Terms of Agreement</font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NOW THEREFORE, for good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound hereby, the parties hereby agree as follows:</font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Definitions and Schedules</font><font style="font-family:inherit;font-size:10pt;">. All capitalized terms used but not defined in this Agreement shall have the meanings given to them in the Plan. </font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Award of RSUs Pursuant to Plan</font><font style="font-family:inherit;font-size:10pt;">. Subject to the terms and conditions, including the restrictions and risk of forfeiture, set forth herein and in the Plan, the Participant is hereby granted under the Plan, as of the Date of Grant, an Award of RSUs, the number of which is set forth for the Participant on the BOL System under the Grant Information tab (for the Date of Grant) and on Schedule 1 attached hereto. </font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Number of Shares</font><font style="font-family:inherit;font-size:10pt;">. The Company will establish a bookkeeping account to reflect the number of shares of Stock that are subject to the Participant&#8217;s Award. The Participant shall not be deemed to be the holder of, or to have any of the rights of a stockholder with respect to, any shares of Stock subject to the Participant&#8217;s Award unless and until the shares have been delivered in accordance with Section 7 of this Agreement.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Vesting</font><font style="font-family:inherit;font-size:10pt;">. Except