Form of restricted share unit agreement

Contract Categories: Business Finance - Share Agreements
EX-10.3 5 ex103usrsuagreement.htm EX-10.3 ex103usrsuagreement
 6ROLXP,QF9LHZ7HPSODWH'DWD %/$&.%(55</,0,7(' (48,7<,1&(17,9(3/$1  568$*5((0(17 81,7('67$7(6 7KLV568$JUHHPHQWLVHQWHUHGLQWREHWZHHQ%ODFN%HUU\/LPLWHG WKH³&RUSRUDWLRQ´ DQGWKH3DUWLFLSDQW QDPHGEHORZ ³\RX´ SXUVXDQWWRWKH%ODFN%HUU\/LPLWHG(TXLW\,QFHQWLYH3ODQ WKH³3ODQ´ DFRS\RIZKLFKLV DWWDFKHGDWWKHERWWRPRIWKLV$JUHHPHQWQHDUWKH³,$&&(37´EXWWRQ7KHWHUPVDQGFRQGLWLRQVRIWKH3ODQ DUHLQFRUSRUDWHGE\UHIHUHQFHDVWHUPVDQGFRQGLWLRQVRIWKLV568$JUHHPHQWDQGDOOFDSLWDOL]HGWHUPVXVHGLQ WKLV568$JUHHPHQWKDYHWKHPHDQLQJVDVFULEHGWKHUHWRLQWKH3ODQ 7KLV568$JUHHPHQWFRQILUPVWKDW RQ*5$17B'$7( WKH³$ZDUG'DWH´  3$57,&,3$17B1$0( WKH³3DUWLFLSDQW´  ZDVJUDQWHG727$/B$:$5'6 WKH³$ZDUG´  YHVWLQJRIWKH$ZDUGZLOOQRWEHVXEMHFWWRWKHDWWDLQPHQWRISHUIRUPDQFHREMHFWLYHV WKH$ZDUGWRWKHH[WHQWQRWHGLPPHGLDWHO\EHORZVKDOO9HVWDWSP(DVWHUQWLPHRQWKHIROORZLQJGDWHV HDFKD³9HVWLQJ'DWH´  9(67B6&+('8/(B7$%/( SURYLGHGKRZHYHUWKDWLI\RXDUHQRWDFWLYHO\HPSOR\HGZLWKD3DUWLFLSDWLQJ(QWLW\FRQWLQXRXVO\GXULQJD 9HVWLQJ3HULRGGXHWRDQ$SSURYHG/HDYHRI$EVHQFHWKHDSSOLFDEOH9HVWLQJ'DWHVKDOOEHH[WHQGHGE\DSHULRG HTXDOWRWKHDJJUHJDWHRIWKHSHULRG V RILQDFWLYHHPSOR\PHQWEHWZHHQWKH$ZDUG'DWHDQGWKH9HVWLQJ'DWH SURYLGHGWKDWWKHDIIHFWHG568VVKDOOYHVWSULRUWRWKH([SLU\'DWH $OO568VJUDQWHGXQGHUWKLV$ZDUGZLOOH[SLUHRQ(;3,5<B'$7( WKH³([SLU\'DWH´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


 
 6ROLXP,QF9LHZ7HPSODWH'DWD LY DQ568GRHVQRWFDUU\DQ\YRWLQJULJKWV Y GXULQJWKHSHULRGEHWZHHQJUDQWLQJRIDQ$ZDUGDQGWKH9HVWLQJ'DWHRIWKH$ZDUG RUVHWWOHPHQWWKHUHRI WKHYDOXHRIDQ568PD\EHVXEMHFWWRVWRFNPDUNHWIOXFWXDWLRQVDQGWKDWWKH&RUSRUDWLRQDFFHSWVQR UHVSRQVLELOLW\IRUDQ\IOXFWXDWLRQVLQWKHYDOXHRIDQ$ZDUG YL DWWKHVROHGLVFUHWLRQRIWKH&RUSRUDWLRQWKH3ODQFDQEHDGPLQLVWHUHGE\DGHVLJQHHRIWKH&RUSRUDWLRQDQG DQ\FRPPXQLFDWLRQIURPRUWRWKHGHVLJQHHVKDOOEHGHHPHGWREHIURPRUWRWKH&RUSRUDWLRQ YLL \RXU³3HUVRQDO,QIRUPDWLRQ´ ZKLFKLQFOXGHVEXWLVQRWOLPLWHGWRDQ\LQIRUPDWLRQWKDWLGHQWLILHV\RX ZKLFKPD\LQFOXGHZKHUHDSSOLFDEOH\RXUQDPHGDWHRIELUWKFRQWDFWLQIRUPDWLRQHPSOR\PHQWLQIRUPDWLRQ DQGILQDQFLDOLQIRUPDWLRQ PD\EHVXEPLWWHGWRWKH&RUSRUDWLRQ¶VWKLUGSDUW\HTXLW\SODQDGPLQLVWUDWRU6ROLXP &DSLWDO,QF ³$GPLQLVWUDWRU´ RUWKLUGSDUW\VHUYLFHSURYLGHUVZKHWKHUGLUHFWO\E\\RXWKURXJK\RXUXVHRIWKH $GPLQLVWUDWRU¶VDGPLQLVWUDWLRQSODWIRUP ³$GPLQLVWUDWRU3ODWIRUP´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¶VFXUUHQW SULYDF\SROLF\DWKWWSZZZEODFNEHUU\FRPOHJDOSULYDF\VKWPOZKLFKDUHLQFRUSRUDWHGLQWRWKLV568 $JUHHPHQWE\UHIHUHQFHDQGZKLFK\RXKHUHE\FRQILUPDQGDJUHH\RXKDYHUHYLHZHGDQGUHDG FROOHFWLYHO\WKH ³3XUSRVH´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¶V,QVLGHU7UDGLQJ3ROLF\DQGDSSOLFDEOHVHFXULWLHVODZVLQFRQQHFWLRQ ZLWKDQ\VDOHRI6KDUHV [ DVUHTXLUHGXQGHUWKH86IHGHUDOVHFXULWLHVODZVWKH&RUSRUDWLRQKDVILOHGUHJLVWUDWLRQVWDWHPHQWVZLWKWKH 6HFXULWLHVDQG([FKDQJH&RPPLVVLRQWRUHJLVWHUWKH6KDUHVWKDWPD\EHLVVXDEOHWRDQ\HOLJLEOH86HPSOR\HH ZKRUHFHLYHV568VXQGHUWKH3ODQ$VDUHVXOWWKH6KDUHVWKDW\RXUHFHLYHSXUVXDQWWRWKH3ODQZLOOJHQHUDOO\EH IUHHO\WUDGDEOHLQERWKWKH8QLWHG6WDWHVDQG&DQDGDVXEMHFWWRFHUWDLQUHVWULFWLRQVRQWKH&RUSRUDWLRQ¶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³6HFWLRQ$´ WRWKH H[WHQWVXEMHFWWKHUHWRDQGDFFRUGLQJO\WRWKHPD[LPXPH[WHQWSHUPLWWHGWKH3ODQVKDOOEHLQWHUSUHWHGDQGEH DGPLQLVWHUHGWREHLQFRPSOLDQFHWKHUHZLWK,WLVLQWHQGHGWKDWSD\PHQWVPDGHLQVHWWOHPHQWRI568VRQRU EHIRUHWKHWKGD\RIWKHWKLUGPRQWKIROORZLQJWKHHQGRIWKH3DUWLFLSDQW¶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³VHSDUDWLRQIURPVHUYLFH´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³,$&&(37´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


 
 6ROLXP,QF9LHZ7HPSODWH'DWD ,$&&(37 KWWSVVKDUHZRUNVVROLXPFRPVROLXPVHUYOHWFRPSDQ\&RPPRQ7HPSODWH'DWD9LHZGR"VWDWH YLHZ WHPSODWHBGDWDBLG