Exhibit 10.5
AGILENT TECHNOLOGIES,
INC.
1999
Stock Plan
Stock
Award Agreement (“Award Agreement”)
For Awards Granted to
Employees in France
Section 1.
Grant of Stock Award . This Stock Award Agreement,
dated as of the date of grant indicated in your account maintained
by the company providing administrative services in connection with
the Plan (as defined below) (the “External
Administrator”), is entered into between Agilent
Technologies, Inc. (the “Company”), and you as an
individual who has been granted Restricted Stock Units (the
“Awardee”) pursuant to the Agilent Technologies, Inc.
1999 Stock Plan (the “Plan”). This Stock Award
represents the right to receive the number of shares of the
Company’s $0.01 par value voting common stock indicated in
the Awardee’s External Administrator account, subject to the
fulfillment of the conditions set forth below and pursuant to and
subject to the terms and conditions set forth in the Plan, the
Agilent Technologies, Inc. 1999 Stock Plan for Awards Granted to
Employees in France (the “French RSU Plan”) and the
administrative rules thereunder. Capitalized terms used and not
otherwise defined herein are used with the same meanings as in the
Plan or the French RSU Plan, as applicable. The Stock Award is an
unfunded and unsecured promise by the Company to deliver shares in
the future.
This Stock Award
is intended to be a grant of French qualified shares which
qualifies for favorable tax and social security contributions
treatment in France under Section L. 225-197-1 to L. 225-197-5 of
the French Commercial Code, as amended.
Section 2.
Vesting Period . So long as Awardee remains an
Awardee Eligible to Vest, the Stock Award shall vest as to 100% of
the shares on the second anniversary of the date of grant stated in
Section 1 above.
Section 3.
Nontransferability of Stock Award . This Stock
Award shall not be transferable by Awardee otherwise than by will
or by the laws of descent and distribution. The terms of this Stock
Award shall be binding on the executors, administrators, heirs and
successors of Awardee.
Section 4.
Termination of Employment or
Service .
(a)
Any unvested Stock Award shall
be forfeited immediately when the Awardee ceases to be an Awardee
Eligible to Vest, except as described in Sections 4(b)-(e) below.
Except as the Committee may otherwise determine, termination of
Awardee’s employment or service for any reason shall occur on
the date such Awardee ceases to perform services for the Company or
any Affiliate without regard to whether such Awardee continues
thereafter to receive any compensatory payments therefrom or is
paid salary thereby in lieu of notice of termination or, with
respect to a member of the Board who is not also an employee of the
Company or any Subsidiary, the date such Awardee is no longer a
member of the Board.
Except as the Committee may
otherwise determine, termination of Awardee’s employment or
service for any reason shall occur on the date such Awardee ceases
to perform services for the Company or any Affiliate.
(b)
Notwithstanding any provision
in the Plan to the contrary, in the event of Awardee’s death
while employed by the Company or its French Subsidiary, on the date
of death, the Stock Award shall become fully vested and
transferable to Awardee’s heirs. Awardee’s heirs may
request issuance of the underlying shares within six months of
Awardee’s death. If Awardee’s heirs do not request the
issuance of the underlying shares within six months of
Awardee’s death, the Stock Award will be
forfeited.
(c)
Notwithstanding any provision
in the Plan to the contrary, if an Awardee terminates employment
due to total and permanent disability or due to retirement in
accordance with the Company’s local retirement policy, any
unvested Stock Award will continue to vest under the vesting
schedule set forth in Section 2.
(d)
In the event of a Change of
Control of the Company (as defined in Section 15(c) of the Plan or
any successor), the Stock Award shall vest in full immediately
prior to the closing of the transaction. The foregoing shall not
apply where the Stock Award is assumed, converted or replaced in
full by the successor corporation or a parent or subsidiary of the
successor; provided, however, that in the event of a Change of
Control in which one or more of the successor or a parent or
subsidiary of the successor has issued publicly traded equity
securities, the assumption, conversion, replacement or continuation
shall be made by an entity with publicly traded securities and
shall provide that the holders of such assumed, converted, replaced
or continued Stock Awards shall be able to acquire such publicly
traded securities. If vesting occurs prior to the second
anniversary of the date of grant provided in Section 1 above, the
Stock Award will be disqualified and will no longer benefit from
the favorable tax and social security treatment in
France.
(e)
Notwithstanding any provision
in the Plan to the contrary, if an Awardee ceases to be an Awardee
Eligible to Vest as a result of participation in the
Company’s Workforce Management Program, any unvested Stock
Award will continue to vest under the vesting schedule set forth in
Section 2.
(f)
Sections 12(b), (c), (d) and
(e) of the Plan shall not apply to this Stock Award.
Section 5.
Restrictions on Sale of Shares . The Company
shall not be obligated to issue any shares of Common Stock pursuant
to this Stock Award unless the shares are at that time effectively
registered or exempt from registration under the U.S. Securities
Act of 1933, as amended, and, as applicable, local laws. Awardee
may not sell or transfer the shares issued pursuant to the Stock
Award prior to the second anniversary of each vesting date or such
other period as is required to comply with the minimum mandatory
holding period applicable to shares underlying French-qualified
awards under Section L. 225-197-1 of the French Commercial Code,
the French Tax Code or the French Social Security Code, as amended.
Notwithstanding the above, the Awardee’s heirs, in case of
the Awardee’s death, or the Awardee in case of the
Awardee’s
Disability (as defined under the French RSU Plan), are not subject
to this restriction on the sale of shares.
Nevertheless, if Awardee qualifies as a
corporate officer under French law (“mandataire
social”) on the Grant Date, Awardee must hold 20% of the
shares issued to him or her upon vesting of the Stock Awards in a
nominative account until the termination of the Awardee’s
function as a corporate officer.
In addition,
the underlying shares cannot be sold during certain “Closed
Periods” as provided for by Section L. 225-197-1 of the
French Commercial Code, as amended, so long as those Closed Periods
are applicable to shares underlying French-qualified award s
, as interpreted by the French administrative guideline, to
the extent applicable.
Section 6.
Responsibility for Taxes . Regardless of any
action the Company or Awardee’s employer (the “
Employer ”) takes with respect to any or all income
tax, social insurance, payroll tax or other tax-related withholding
(the “ Tax-Related Items ”), Awardee
acknowledges that the ultimate liability for all Tax-Related Items
legally due by Awardee is and remains Awardee’s
responsibility and that the Company and/or