BELL MICROPRODUCTS
INC.
2009 EQUITY INCENTIVE
PLAN
NOTICE OF GRANT OF RESTRICTED
STOCK UNITS
Unless otherwise defined herein, the terms
defined in the Bell Microproducts Inc. 2009 Equity Incentive Plan
(the “Plan”) will have the same defined meanings in
this Notice of Grant of Restricted Stock Units (the “Notice
of Grant”) and Terms and Conditions of Restricted Stock Unit
Grant, attached hereto as Exhibit A (together, the
“Award Agreement”).
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 Award Agreement, as
follows:
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Grant Number
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Date of Grant
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Vesting Commencement Date
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Number of Restricted Stock
Units
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Term/Expiration Date
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Vesting Schedule :
Subject to any acceleration provisions contained
in the Plan or set forth below, the Restricted Stock Unit will vest
in accordance with the following schedule:
[Twenty-five percent (25%) of the Shares subject
to the Award of Restricted Stock Units will vest on the first
anniversary of the Vesting Commencement Date and 1/16
th
of the Shares initially subject
to the Award shall vest each quarter thereafter, so as to be 100%
vested on the fourth anniversary of the Vesting Commencement Date,
so long as Participant remains a Service Provider through each such
vesting date.]
In the event Participant ceases to be a Service
Provider for any or no reason before Participant vests in the
Restricted Stock Unit, the Restricted Stock Unit and
Participant’s right to acquire Shares hereunder will
immediately terminate.
By Participant’s signature and the
signature of the representative of Bell Microproducts
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
Award 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 Award Agreement in their entirety,
has had an opportunity to obtain the advice of counsel prior to
executing this Award Agreement and fully understands all provisions
of the Plan and Award Agreement. Participant hereby
agrees to accept as binding, conclusive and final all decisions or
interpretations of the Administrator upon any questions relating to
the Plan and Award Agreement. Participant further
agrees to notify the Company upon any change in the residence
address indicated below.
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Submitted
by:
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Accepted
by:
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PURCHASER
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BELL
MICROPRODUCTS INC.
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Signature
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By
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Print
Name
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Title
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Date
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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 Grant of this
Award Agreement (the “Participant”) under the Plan
an Award of Restricted Stock Units, subject to all of the terms and
conditions in this Award Agreement and the Plan, which is
incorporated herein by reference. Subject to Section
23(c) of the Plan, in the event of a conflict between the terms and
conditions of the Plan and the terms and conditions of this
Award 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. Unless and until the Restricted Stock
Units will have vested in the manner set forth in Section 3,
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 Unit 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 Sections 3 or 4 will be
paid to Participant (or in the event of Participant’s death,
to his or her 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 from the end of the Company’s tax year that includes
the vesting date.
3.
Vesting Schedule . Except as provided in Section
4, and subject to Section 5, the Restricted Stock Units awarded by
this Award Agreement will vest in accordance with the vesting
provisions set forth in the Notice of Grant. 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 Award Agreement,
unless Participant will have been continuously a Service Provider
from the Date of Grant until the date such vesting
occurs.
4.
Administrator Discretion . The Administrator, 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
Administrator.
Notwithstanding anything in the Plan or this
Award Agreement to the contrary, if the vesting of the balance, or
some lesser portion of the balance, of the Restricted Stock Units
is accelerated in connection with Participant’s termination
as a Service Provider (provided that such termination is a
“separation from service” within the meaning of Section
409A, as determined by the Company), other than due to death
, and if (x) Participant is a “specified
employee” within the meaning of Section 409A at the time of
such termination as a Service Provider and (y) the payment of such
accelerated Restricted Stock Units will result in the imposition of
additional tax under Section 409A if paid to Participant on or
within the six (6) month period following Participant’s
termination as a Service Provider, then the payment of such
accelerated Restricted Stock Units will not be made until the date
six (6) months and one (1) day following the date of
Participant’s termination as a Service Provider, unless the
Participant dies following his or her termination as a Service
Provider, in which case, the Restricted Stock Units will be paid in
Shares in accordance with Section 6 as soon as practicable
following his or her death. It is the intent of this
Award Agreement to comply with the requirements of Section 409A so
that none of the Restricted Stock Units provided under this Award
Agreement or Shares issuable thereunder will be subject to the
additional tax imposed under Section 409A, and any ambiguities
herein will be interpreted to so comply. For purposes of
this Award Agreement, “Section 409A” means Section 409A
of the Code, and any proposed, temporary or final Treasury
Regu