REDBACK NETWORKS INC. REDBACK APPRECIATION RIGHTS AGREEMENT Grant NoticeRedback Appreciation Rights Agreement • January 22nd, 2007 • Maxwell Acquisition CORP • Services-computer integrated systems design
This RAR shall become payable over a period of four years as follows: the RAR will become payable on an annual basis with respect to one-fourth (1/4th) of the RAR Units subject thereto on each Payout Date. The “Payout Date” shall mean the date on which the Company pays out the amounts, if any, determined pursuant to the formula set forth in section 3 of the “Terms and Conditions of the Redback Appreciation Rights” attached hereto. The Payout Date shall occur within 2 1/2 months following each one-year anniversary of the Grant Date set forth above over a period of four years, subject to the Employee continuing to be a Service Provider from the date hereof through the Payout Date. In the event Employee takes an unpaid leave of absence, then unless otherwise determined by the Administrator or as otherwise required by applicable laws, their right to receive any payments hereunder shall be tolled by the duration of such unpaid leave of absence.
