RESTRICTED STOCK AGREEMENT
Exhibit 10.1
THE ST. ▇▇▇ COMPANY
Percentage of Restricted Stock | Vesting Date |
33⅓% | Each of the 1st, 2nd, and 3rd Annual Anniversary of the Grant Date |
Except as otherwise specifically provided herein, there shall be no proportionate or partial vesting in the periods prior to each Vesting Date, and all vesting shall occur only on the appropriate Vesting Date. Unless otherwise provided by the Committee, upon the termination of the Holder’s Continuous Service with the Company and its Related Entities, any unvested portion of the Restricted Stock shall be forfeited and returned back to the Company for no consideration.
A x (B/12), where
A= the number of Shares that would otherwise vest as of the next Vesting Date, and
B= the number of whole months of the Holder’s Continuous Service during the twelve
(12) month period immediately preceding the next Vesting Date, determined as of the date of termination of the Holder’s Continuous Service.
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(a)The Committee shall have full authority and discretion to decide all matters relating to the administration and interpretation of this Agreement. The Committee shall have full power and authority to pass and decide upon cases in conformity with the objectives of this Agreement under such rules as the Board may establish.
(b)Any decision made or action taken by the Company, the Board, or the Committee arising out of, or in connection with, the administration, interpretation, and effect of this Agreement shall be at their absolute discretion and will be conclusive and binding on all parties. No member of the Board, Committee, or employee of the Company shall be liable for any act or action hereunder, whether of omission or commission, by the Holder or by any agent to whom duties in connection with the administration of this Agreement have been delegated in accordance with the provision of this Agreement.
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obligations created hereunder shall be binding on the Holder and his heirs and legal representatives and on the successors and assigns of the Company.
(a)It is intended that the Restricted Stock awarded pursuant to this Agreement be exempt from Section 409A of the Code (“Section 409A”) as property not includible in income by reason of being substantially nonvested pursuant to Treasury Regulation 1.409A-1(b)(6), or alternatively as a short-term deferral pursuant to Treasury Regulation 1.409A-1(b)(4), and the Plan, the Grant Notice, and this Agreement shall be interpreted accordingly. The provisions of this Agreement may not be amended, adjusted, assumed or substituted for, converted or otherwise modified without the Holder’s prior written consent if and to the extent that such amendment, adjustment, assumption or substitution, conversion or modification would cause the award to violate the requirements of Section 409A, as determined by the Committee in its sole discretion.
(b)In the event that either the Company or the Holder believes, at any time, that any benefit or right under this Agreement is subject to Section 409A, and does not comply with the requirements of Section 409A, it shall promptly advise the other and the Company and the Holder shall negotiate reasonably and in good faith to amend the terms of such benefits and rights (to the extent determined necessary by the Committee in good faith, in its sole and absolute discretion) if such an amendment may be made in a commercially reasonable manner, such that they comply with Section 409A with the most limited possible economic affect on the Holder and on the Company.
(c)Notwithstanding the foregoing, the Company does not make any representation to the Holder that the Shares of Restricted Stock awarded pursuant to this Agreement are exempt from, or satisfy, the requirements of Section 409A, and the Company shall have no liability or other obligation to indemnify or hold harmless the Holder or any Beneficiary for any tax, additional tax, interest or penalties that the Holder or any Beneficiary may incur in the event that any provision of this Agreement, or any amendment or modification thereof or any other action taken with respect thereto is deemed to violate any of the requirements of Section 409A.
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construed as a waiver of any subsequent breach or violation, and the waiver by any party hereto to exercise any right or remedy which he or it may possess shall not operate nor be construed as the waiver of such right or remedy by such party, or as a bar to the exercise of such right or remedy by such party, upon the occurrence of any subsequent breach or violation.
[Signature page follows]
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IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the day of , 2026.
COMPANY:
THE ST. ▇▇▇ COMPANY
By:
Name:
Title:
Agreed and Accepted:
HOLDER:
By: __________________________________
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