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2008 EQUITY INCENTIVE PLAN

Equity Incentive Plan Agreement

2008 EQUITY INCENTIVE PLAN | Document Parties: SONICWALL INC | SONICWALL, INC You are currently viewing:
This Equity Incentive Plan Agreement involves

SONICWALL INC | SONICWALL, INC

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Title: 2008 EQUITY INCENTIVE PLAN
Governing Law: California     Date: 8/7/2009
Industry: Communications Equipment     Sector: Technology

2008 EQUITY INCENTIVE PLAN, Parties: sonicwall inc , sonicwall  inc
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SONICWALL, INC.

 

2008 EQUITY INCENTIVE PLAN

 

RESTRICTED STOCK UNIT AGREEMENT

 

Unless otherwise defined herein, the terms defined in the SonicWALL, Inc. 2008 Equity Incentive Plan (the “Plan”) will have the same defined meanings in this Restricted Stock Unit Agreement (the “Agreement”).

 

NOTICE OF RESTRICTED STOCK UNIT GRANT

 

Participant Name:

 

Address:

 

You have been granted the right to receive an Award of Restricted Stock Units, subject to the terms and conditions of the Plan and this Agreement, as follows:

 

Grant Number                                                                                          

 

Date of Grant                                                                                           

 

Number of Restricted Stock Units                                                                          

 

Vesting Schedule :

 

Subject to any acceleration provisions contained in the Plan or set forth below, the Restricted Stock Units will vest in accordance with the following schedule:

 

One-hundred percent (100%) of the Restricted Stock Units shall vest on the day immediately preceding the Company’s 2010 Annual Meeting of Shareholders, subject to Participant’s continuous status as a Director through such date.

 

In the event Participant ceases to be a Director for any or no reason before Participant vests in the Restricted Stock Units, the Restricted Stock Units and Participant’s right to acquire any Shares hereunder will immediately terminate.

 

By Participant’s signature and the signature of the representative of SonicWALL, Inc. (the “Company”) below, Participant and the Company agree that this Award of Restricted Stock Units is granted under and governed by the terms and conditions of the Plan and this Agreement, including the Terms and Conditions of Restricted Stock Unit Grant, attached hereto as Exhibit A , all of which are made a part of this document.  Participant has reviewed the Plan and this Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement and fully understands all provisions of the Plan and Agreement.  Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Board upon any questions relating to the Plan and Agreement.  Participant further agrees to notify the Company upon any change in the residence address indicated below.

 

 

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PARTICIPANT:                                                                                     SONICWALL, INC.:

 

 

 


Signature                                                                                 By

 

 


Print Name                                                                                     Title

 

Residence Address :

 

 


 

 

 

 

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EXHIBIT A

 

TERMS AND CONDITIONS OF RESTRICTED STOCK UNIT GRANT

 

1.            Grant .  The Company hereby grants to the Participant named in the Notice of Restricted Stock Unit Grant attached to this Agreement (“Participant”) under the Plan an Award of Restricted Stock Units, subject to all of the terms and conditions in this Agreement and the Plan, which is incorporated herein by reference.  In the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Agreement, the terms and conditions of the Plan will prevail.

 

2.            Company’s Obligation to Pay .  Each Restricted Stock Unit represents the right to receive a Share on the date it vests (or at such later time indicated in this Agreement).  Unless and until the Restricted Stock Units will have vested in the manner set forth in Section 3 or Section 4 of this Agreement or Section 14(c) of the Plan, Participant will have no right to payment of any such Restricted Stock Units.  Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Units will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company.  Any Restricted Stock Units that vest in accordance with this Agreement will be paid to Participant (or in the event of Participant’s death, to his or her properly designated beneficiary or estate) in whole Shares, subject to Participant satisfying any applicable tax withholding obligations as set forth in Section 7.  Subject to the provisions of Section 4, such vested Restricted Stock Units will be paid in Shares as soon as practicable after vesting, but in each such case within the period ending no later than the fifteenth (15 th ) day of the third (3 rd ) month following the end of the Company’s tax year that includes the vesting date.

 

3.            Vesting Schedule .  Except as provided in Section 4 of the Agreement and Section 14(c) of the Plan, and subject to Section 5, the Restricted Stock Units awarded by this Agreement will vest in accordance with the vesting provisions set forth in the Notice of Restricted Stock Unit Grant attached to this Agreement.  Restricted Stock Units scheduled to vest on a certain date or upon the occurrence of a certain condition will not vest in Participant in accordance with any of the provisions of this Agreement, unless Participant will have been continuously a Director from the Date of Grant until the date such vesting occurs.

 

4.            Board Discretion .  The Board, in its discretion, may accelerate the vesting of the balance, or some lesser portion of the balance, of the unvested Restricted Stock Units at any time, subject to the terms of the Plan.  If so accelerated, such Restricted Stock Units will be considered as having vested as of the date specified by the Board.  Subject to the provisions of this Section 4 and Section 5, if the Board, in its discretion, accelerates the vesting of the balance, or some lesser portion of the balance, of the Restricted Stock Units, the payment of such accelerated Restricted Stock Units shall be made within the period ending no later than the fifteenth (15 th ) day of the third (3 rd ) month following the end of the Company’s taxable year that includes the vesting date.

 

 

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5.            Forfeiture upon Termination of Continuous Status as a Director .  Notwithstanding any contrary provision of this Agreement, the balance of the Restricted Stock Units that have not vested as of the time of Participant’s termination as a Director for any or no reason and Participant’s right to acquire any Shares hereunder will immediately terminate.

 

6.            Death of Participant .  Any distribution or delivery to be made to Participant under this Agreement will, if Participant is then deceased, be made to Participant’s designated beneficiary, or if no beneficiary survives Participant, the administrator or executor of Participant’s estate.  Any such transferee must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory


 
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