Talbots Director Restricted Stock Unit Award Letter Agreement
This letter confirms that the recipient, a director of Talbots, has been granted a specified number of restricted stock units as part of their board compensation. Some of these units may be mandatorily deferred under the Director Deferred Compensation Program until the director leaves the board. The awarded units are subject to a vesting period, after which shares will be issued to the director, with any deferred balance distributed upon board departure. The agreement outlines the key terms of the award and references further details to be provided by Talbots' Human Resource Department.
Exhibit 10.1
Re: Board of Director Compensation - -
Restricted Stock Unit Award
Dear __________:
The purpose of this letter is to confirm that, effective ____________, ______, you have been awarded ________ restricted stock units of Talbots stock under the Talbots Director ______ Plan as part of your compensation for service as a Talbots director. [Pursuant to the stock ownership guidelines which are part of the approved director compensation program, ________ of these share units will be mandatorily deferred into the Director Deferred Compensation Program until the date of cessation of your service on the Board.]
The ______ share units awarded will be subject to a _____ [year] [monthly] vesting period established under the program, and will therefore vest on ___________. At such time, ______ shares will be issued to you in your name [and the balance will be deferred until you leave the Board].
The Talbots Human Resource Department will provide you with additional information in the near future on other particulars of the program. In the interim, please let me know if I can assist in any way.
Very truly yours,
Richard T. O’Connell, Jr.
Secretary
RTOC:LM
Enc.
