(AS AMENDED AND RESTATED MAY 20,
2009)
NOTICE OF GRANT OF RESTRICTED
STOCK UNITS
Unless otherwise
defined herein, the terms defined in the Atmel Corporation 2005
Stock Plan (the “ Plan ”) shall have the same
defined meanings in this Notice of Grant of Restricted Stock Units
(the “ Notice of Grant ”).
You have been
granted an Award of restricted stock units (“ Restricted
Stock Units ”), subject to the terms and conditions of
the Plan and this Notice of Grant and the Restricted Stock Unit
Agreement, attached hereto as Exhibit A (together, the
“ Award Agreement ”), as follows:
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Grant
Number
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Grant
Date
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Number of
Restricted Stock Units:
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«RSU_Shares»
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Vesting
Commencement Date:
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Vesting
Schedule:
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The Restricted
Stock Units will vest, in whole or in part, in accordance with the
following schedule:
[Insert
vesting schedule]
Your signature
below indicates your agreement and understanding that this Award is
subject to and governed by the terms and conditions of the Plan and
this Award Agreement. For example, important additional information
on vesting and forfeiture of the Restricted Stock Units is
contained in paragraphs 3 through 5 of Exhibit A. PLEASE BE
SURE TO READ ALL OF EXHIBIT A, WHICH CONTAINS THE SPECIFIC TERMS
AND CONDITIONS OF THIS AWARD AGREEMENT. You further represent that
you have reviewed the Plan and this Award Agreement in their
entirety, have had an opportunity to obtain the advice of counsel
prior to executing this Award Agreement and fully understand all
provisions of the Plan and Award Agreement. You hereby agree to
accept as binding, conclusive and final all decisions or
interpretations of the Administrator upon any questions relating
to
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1
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This form of
Award Agreement is intended for Participants, including non-U.S.
citizens, working in the U.S. at the time of grant.
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the Plan and
Award Agreement. You further agree to notify the Company upon any
change in the residence address indicated below.
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PARTICIPANT:
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ATMEL
CORPORATION:
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/s/ Steven
Laub
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Signature
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By: Steven
Laub
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President and
Chief Executive Officer
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Print
Name
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Title
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DATED:
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Residence
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2
(AS AMENDED AND RESTATED MAY 20,
2009)
RESTRICTED STOCK UNIT
AGREEMENT
1.
Grant . The Company hereby grants to 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. When
Shares are paid to the Participant in payment for vested Restricted
Stock units, par value will be deemed paid by the Participant for
each Restricted Stock Unit by services rendered by the Participant
to the Company, and will be subject to the appropriate tax
withholdings.
2.
Company’s Obligation to Pay . Each Restricted Stock
Unit has a value equal to the Fair Market Value of a Share on the
date it vests. Unless and until the Restricted Stock Units will
have vested in the manner set forth in paragraphs 3 and 4, the
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. Payment of any vested Restricted
Stock Units will be made in whole Shares only.
3.
Vesting Schedule . Subject to paragraph 4, the Restricted
Stock Units awarded by this Award Agreement will vest in the
Participant according to the vesting schedule set forth on the
first page of this Award Agreement, subject to the
Participant’s continuing to be a Service Provider through
each such date.
4.
Forfeiture upon Termination of Continuous Service .
Notwithstanding any contrary provision of this Award Agreement, if
the Participant ceases to be a Service Provider for any or no
reason, the then-unvested Restricted Stock Units (after taking into
account any accelerated vesting that may occur as the result of any
such termination) awarded by this Award Agreement will thereupon be
forfeited at no cost to the Company and the Participant will have
no further rights thereunder.
5.
Payment after Vesting . Any Restricted Stock Units that vest
in accordance with paragraph 3 will be paid to the Participant (or
in the event of the Participant’s death, to his or her
estate) in whole Shares as soon as administratively practicable
after vesting, subject to paragraph 7, but in each such case no
later than the date that is two-and-one-half months from the end of
the Company’s tax year that includes the vesting date.
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 the Participant ceasing to be a Service Provider
(provided that such cessation is a “separation from
service” within the meaning of Section 409A, as
determined by the Company), other than due to death, and if
(x) the Participant is a “specified employee”
within the meaning of Section 409A at the time of such
cessation and (y) the payment of such accelerated Restricted
Stock Units will result in the
3
imposition of
additional tax under Section 409A if paid to the Participant
on or within the six (6) month period following the
Participant ceasing to be 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
such cessation, unless the Participant dies during such six
(6) month period, in which case, the Restricted Stock Units
will be paid to the Participant’s estate as soon as
practicable following his or her death, subject to paragraph 7. 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
Internal Revenue Code of 1986, as amended (the “Code”),
and any proposed, temporary or final Treasury Regulations and
Internal Revenue Service guidance thereunder, as each may be
amended from time to time.
6.
Payments after Death . Any distribution or delivery to be
made to the Participant under this Award Agreement will, if the
Participant is then deceased, be made to the Participant’s
designated beneficiary, provided such beneficiary has been
designated prior to the Participant’s death in a form and
manner acceptable to the Administrator, pursuant to
Section 5(b)(viii) of the Plan. If no beneficiary has been
designated by the Participant in a form and manner acceptable to
the Administrator, then such earned Restricted Stock Units shall be
paid to the personal representative of the Participant’s
estate or in the event no administration of the Participant’s
estate is required, then to the successor-in-interest pursuant to
the Participant’s will or in accordance with the laws of
descent and distribution, as the case may be. Any such transferee
must furnish the Company with (a) written notice of his or her
status as transferee, and (b) evidence satisfactory to the
Company to establish the validity of the transfer and compliance
with any laws or regulations pertaining to said
transfer.
7.
Withholding of Taxes . Notwithstanding any contrary
provision of this Award Agreement, no certificate representing the
Shares will be issued to the Participant, unless and until
satisfactory arrangements (as determined by the Administrator) will
have been made by the Participant with respect to the payment of
income, employment and other taxes which the Company determines
must be withheld with respect to such shares so issuable. The
Administrator, in its sole discretion and pursuant to such
procedures as it may specify from time to time, may permit the
Participant to satisfy such tax withholding obligation, in whole or
in part (without limitation) by one or more of the following:
(a) paying cash, (b) electing to have the Company
withhold otherwise deliverable shares of Common Stock having a Fair
Market Value equal to the minimum amount required to be withheld,
(c) delivering to the Company already vested and owned shares
of Common Stock having a Fair Market Value equal to the amount
required to be withheld, or (d) selling a sufficient number of
such shares of Common Stock otherwise deliverable to Participant
through such means as the Company may determine in its sole
discretion (whether through a broker or otherwise) equal to the
amount required to be withheld. If the Participant fails to make
satisfactory arrangements for the payment of any required tax
withholding obligations hereunder at the time any applicable Shares
otherwise are scheduled to vest pursuant to paragraph 3, the
Participant will permanently forfeit such Shares and the Shares
will be returned to the Company at no cost to the
Company.
4
8. Rights
as Stockholder . Neither the Participant nor any person
claiming under or through the Participant will have any of the
rights or privileges of a stockholder of the Company in respect of
any Shares deliverable hereunder unless and until certificates
representing such Shares (which may be in book entry form) will
have been issued, recorded on the records of the Company or its
transfer agents or registrars, and delivered to the Participant
(including through electronic delivery to a brokerage account).
After such issuance, recordation and delivery, the Participant will
have all the rights of a stockholder of the Company with respect to
voting such Shares and receipt of dividends and distributions on
such Shares.
9. No
Effect on Employment or Service . Subject to the terms of any
employment contract with the Participant, the Participant’s
employment or other service with the Company and its Subsidiaries
is on an at-will basis only. Accordingly, subject to the terms of
any employment contract with the Participant, the terms of the
Participant’s employment or service with the Company and its
Subsidiaries will be determined from time to time by the Company or
the Subsidiary employing the Participant (as the case may be), and
the Company or the Subsidiary will have the right, which is hereby
expressly reserved, to terminate or change the terms of the
employment or service of the Participant at any time for any reason
whatsoever, with or without good cause. The transactions
contemplated hereunder and the vesting schedule set forth on the
first page of this Award Agreement do not constitute an express or
implied promise of continued employment for any period of
time.
10.
Address for Notices . Any notice to be given to the Company
under the terms of this Award Agreement will be addressed to
Company at Atmel Corporation, Attention: Stock Administration
Department, 2325 Orchard Parkway, San Jose, California 95131, or at
such other address as the Company may hereafter designate in
writing.
11. Grant
is Not Transferable . Except to the limited extent provided in
paragraphs 5 and 6, this Award and the rights and privileges
conferred hereby will not be transferred, assigned, pledged or
hypothecated in any way (whether by operation of law or otherwise)
and will not be subject to sale under execution, attachment or
similar process. Upon any attempt to transfer, assign, pledge,
hypothecate or otherwise dispose of this Award, or any right or
privilege conferred hereby, or upon any attempted sale under any
execution, attachment or similar process, this Award and the rights
and privileges conferred hereby immediately will become null and
void.
12.
Restrictions on Sale of Securities . The Shares issued as
payment for vested Restricted Stock Units under this Award
Agreement will be registered under U.S. federal securities laws and
will be freely tradable upon receipt. However, a
Participant’s subsequent sale of the Shares may be subject to
any market blackout-period that may be imposed by the Company and
must comply with the Company’s insider trading policies, and
any other applicable securities laws.
13.
Binding Agreement . Subject to the limitation on the
transferability of this Award contained herein, this Award
Agreement will be binding upon and inure to the benefit of the
heirs, legatees, legal representatives, successors and assigns of
the parties hereto.
5
14.
Additional Conditions to Issuance of Stock . The Company
will not be required to issue any certificate or certificates for
Shares hereunder prior to fulfillment of all the following
conditions: (a) the admission of such Shares to listing on all
stock exchanges on which such class of stock is then listed;
(b) the completion of any registration or other qualification
of such Shares under any U.S. state or federal law or under the
rulings or regulations of the Securities and Exchange Commission or
any other governmental regulatory body, which the Administrator
will, in its absolute discretion, deem necessary or advisable;
(c) the obtaining of any approval or other clearance from any
U.S. state or federal governmental agency, which the Administrator
will, in its absolute discretion, determine to be necessary or
advisable; and (d) the lapse of such reasonable period of time
following the date of vesting of the Restricted Stock Units as the
Administrator may establish from time to time for reasons of
administrative convenience.
15. Plan
Governs . This Award Agreement is subject to all terms and
provisions of the Plan. In the event of a conflict between one or
more provisions of this Award Agreement and one or more provisions
of the Plan, the provisions of the Plan will govern.
16.
Administrator Authority . The Administrator will have the
power to interpret the Plan and this Award Agreement and to adopt
such rules for the administration, interpretation and application
of the Plan as are consistent therewith and to interpret or revoke
any such rules (including, but not limited to, the determination of
whether or not any Restricted Stock Units have vested). All actions
taken and all interpretations and determinations made by the
Administrator in good faith will be final and binding upon
Participant, the Company and all other interested persons. No
member of the Board or its Committee administering the Plan will be
personally liable for any action, determination or interpretation
made in good faith with respect to the Plan or this Award
Agreement.
17.
Captions . Captions provided herein are for convenience only
and are not to serve as a basis for interpretation or construction
of this Award Agreement.
18.
Agreement Severable . In the event that any provision in
this Award Agreement will be held invalid or unenforceable, such
provision will be severable from, and such invalidity or
unenforceability will not be construed to have any effect on, the
remaining provisions of this Award Agreement.
19.
Modifications to the Award Agreement . This Award Agreement
constitutes the entire understanding of the parties on the subjects
covered. The Participant expressly warrants that he or she is not
accepting this Award Agreement in reliance on any promises,
representations, or inducements other than those contained herein.
Modifications to this Award Agreement or the Plan can be made only
in an express written contract executed by a duly authorized
officer of the Company. Notwithstanding anything to the contrary in
the Plan or this Award Agreement, the Company reserves the right to
revise this Award Agreement as it deems necessary or advisable, in
its sole discretion and without the consent of the Participant, to
comply with Section 409A or to otherwise avoid imposition of
any additional tax or income recognition under Section 409A
prior to the actual payment of Shares pursuant to this Award of
Restricted Stock Units.
6
20.
Amendment, Suspension or Termination of the Plan . By
accepting this Restricted Stock Unit award, the Participant
expressly warrants that he or she has received a right to receive
stock under the Plan, and has received, read and understood a
description of the Plan. The Participant understands that the Plan
is discretionary in nature and may be amended, suspended or
terminated by the Company at any time. Notwithstanding the
foregoing, no amendment, suspension or termination of the Plan
shall impair the Participant’s rights under this Award of
Restricted Stock Units, unless the Participant consents in writing
to such action.
21.
Notice of Governing Law . This award of Restricted Stock
Units shall be governed by the internal substantive laws, without
regard to the choice of law rules, of the State of
California.
22.
Electronic Delivery . The Company may, in its sole
discretion, decide to deliver any documents related to Restricted
Stock Units awarded under the Plan or future Restricted Stock Units
that may be awarded under the Plan by electronic means, or to
request the Participant’s consent to participate in the Plan
by electronic means. The Participant hereby consents to receive
such documents by electronic delivery and if requested, to agree to
participate in the Plan through an on-line or electronic system
established and maintained by the Company or another third party
designated by the Company.
7
(AS AMENDED AND RESTATED MAY 20,
2009)
NOTICE OF GRANT OF RESTRICTED
STOCK UNITS
Unless otherwise
defined herein, the terms defined in the Atmel Corporation 2005
Stock Plan (the “ Plan ”) shall have the same
defined meanings in this Notice of Grant of Restricted Stock Units
(the “ Notice of Grant ”).
You have been
granted an Award of restricted stock units (“ Restricted
Stock Units ”), subject to the terms and conditions of
the Plan and this Notice of Grant and the Restricted Stock Unit
Agreement, attached hereto as Exhibit A (together, the
“ Award Agreement ”), as follows:
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Grant
Number
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Grant
Date
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Number of
Restricted Stock Units:
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«RSU_Shares»
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Vesting
Commencement Date:
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Vesting
Schedule:
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The Restricted
Stock Units will vest, in whole or in part, in accordance with the
following schedule:
[Insert
vesting schedule]
Notwithstanding
the foregoing, in the event of a Change of Control (as defined
below) and provided the Participant’s status as a Service
Provider has not ceased as of immediately prior to such Change of
Control, one hundred percent (100%) of the then-unvested and
outstanding Shares subject to this Award of Restricted Stock Units
will immediately vest.
For purposes of
this Award Agreement, “Change of Control” shall mean
the occurrence of any of the following events:
(i) The
consummation by the Company of a merger or consolidation of the
Company with any other corporation, other than a merger or
consolidation which would result in the voting securities of the
Company outstanding immediately prior thereto continuing to
represent (either by remaining outstanding or by being converted
into voting securities of the surviving entity) more than 50% of
the
1
total voting
power represented by the voting securities of the Company or such
surviving entity outstanding immediately after such merger or
consolidation;
(ii) The
approval by the stockholders of the Company, or if stockholder
approval is not required, approval by the Board, of a plan of
complete liquidation of the Company or an agreement for the sale or
disposition by the Company of all or substantially all of the
Company’s assets;
(iii) Any
“person” (as such term is used in Sections 13(d) and
14(d) of the Securities Exchange Act of 1934, as amended) becoming
the “beneficial owner” (as defined in Rule 13d-3
under said Act), directly or indirectly, of securities of the
Company representing 50% or more of the total voting power
represented by the Company’s then outstanding voting
securities; or
(iv) A change
in the composition of the Board, as a result of which fewer than a
majority of the directors are Incumbent Directors. “Incumbent
Directors” will mean directors who either (A) are
directors of the Company as of the date hereof, or (B) are
either (x) elected by the Board pursuant to Section 3.4
of the Bylaws of the Company, or (y) nominated by the Board
for election by the stockholders pursuant to Section 3.3 of
the Bylaws of the Company, in either case (x) or (y), with the
affirmative votes of at least a majority of those directors whose
election or nomination was not in connection with any transactions
described in subsections (i), (ii), or (iii) or in connection
with an actual or threatened proxy contest relating to the election
of directors of the Company.
Your signature
below indicates your agreement and understanding that this Award is
subject to and governed by the terms and conditions of the Plan and
this Award Agreement. For example, important additional information
on vesting and forfeiture of the Restricted Stock Units is
contained in paragraphs 3 through 5 of Exhibit A. PLEASE BE
SURE TO READ ALL OF EXHIBIT A, WHICH CONTAINS THE SPECIFIC TERMS
AND CONDITIONS OF THIS AWARD AGREEMENT. You further represent that
you have reviewed the Plan and this Award Agreement in their
entirety, have had an opportunity to obtain the advice of counsel
prior to executing this Award Agreement and fully understand all
provisions of the Plan and Award Agreement. You hereby agree to
accept as binding, conclusive and final all decisions or
interpretations of the Administrator upon any questions relating to
the Plan and Award Agreement. You further agree to notify the
Company upon any change in the residence address indicated
below.
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PARTICIPANT:
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ATMEL
CORPORATION:
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/s/ Steven
Laub
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Signature
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By: Steven
Laub
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President and
Chief Executive Officer
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Print
Name
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Title
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DATED:
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Residence
Address
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2
(AS AMENDED AND RESTATED MAY 20,
2009)
RESTRICTED STOCK UNIT
AGREEMENT
1.
Grant . The Company hereby grants to 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. When
Shares are paid to the Participant in payment for vested Restricted
Stock units, par value will be deemed paid by the Participant for
each Restricted Stock Unit by services rendered by the Participant
to the Company, and will be subject to the appropriate tax
withholdings.
2.
Company’s Obligation to Pay . Each Restricted Stock
Unit has a value equal to the Fair Market Value of a Share on the
date it vests. Unless and until the Restricted Stock Units will
have vested in the manner set forth in paragraphs 3 and 4, the
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. Payment of any vested Restricted
Stock Units will be made in whole Shares only.
3.
Vesting Schedule . Subject to paragraph 4, the Restricted
Stock Units awarded by this Award Agreement will vest in the
Participant according to the vesting schedule set forth on the
first page of this Award Agreement, subject to the
Participant’s continuing to be a Service Provider through
each such date.
4.
Forfeiture upon Termination of Continuous Service .
Notwithstanding any contrary provision of this Award Agreement, if
the Participant ceases to be a Service Provider for any or no
reason, the then-unvested Restricted Stock Units (after taking into
account any accelerated vesting that may occur as the result of any
such termination) awarded by this Award Agreement will thereupon be
forfeited at no cost to the Company and the Participant will have
no further rights thereunder.
5.
Payment after Vesting . Any Restricted Stock Units that vest
in accordance with paragraph 3 will be paid to the Participant (or
in the event of the Participant’s death, to his or her
estate) in whole Shares as soon as administratively practicable
after vesting, subject to paragraph 7, but in each such case no
later than the date that is two-and-one-half months from the end of
the Company’s tax year that includes the vesting date.
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 the Participant ceasing to be a Service Provider
(provided that such cessation is a “separation from
service” within the meaning of Section 409A, as
determined by the Company), other than due to death, and if
(x) the Participant is a “specified employee”
within the meaning of Section 409A at the time of such
cessation and (y) the payment of such accelerated Restricted
Stock Units will result in the
3
imposition of
additional tax under Section 409A if paid to the Participant
on or within the six (6) month period following the
Participant ceasing to be 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
such cessation, unless the Participant dies during such six
(6) month period, in which case, the Restricted Stock Units
will be paid to the Participant’s estate as soon as
practicable following his or her death, subject to paragraph 7. 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
Internal Revenue Code of 1986, as amended (the “Code”),
and any proposed, temporary or final Treasury Regulations and
Internal Revenue Service guidance thereunder, as each may be
amended from time to time.
6.
Payments after Death . Any distribution or delivery to be
made to the Participant under this Award Agreement will, if the
Participant is then deceased, be made to the Participant’s
designated beneficiary, provided such beneficiary has been
designated prior to the Participant’s death in a form and
manner acceptable to the Administrator, pursuant to
Section 5(b)(viii) of the Plan. If no beneficiary has been
designated by the Participant in a form and manner acceptable to
the Administrator, then such earned Restricted Stock Units shall be
paid to the personal representative of the Participant’s
estate or in the event no administration of the Participant’s
estate is required, then to the successor-in-interest pursuant to
the Participant’s will or in accordance with the laws of
descent and distribution, as the case may be. Any such transferee
must furnish the Company with (a) written notice of his or her
status as transferee, and (b) evidence satisfactory to the
Company to establish the validity of the transfer and compliance
with any laws or regulations pertaining to said
transfer.
7.
Withholding of Taxes . Notwithstanding any contrary
provision of this Award Agreement, no certificate representing the
Shares will be issued to the Participant, unless and until
satisfactory arrangements (as determined by the Administrator) will
have been made by the Participant with respect to the payment of
income, employment and other taxes which the Company determines
must be withheld with respect to such shares so issuable. The
Administrator, in its sole discretion and pursuant to such
procedures as it may specify from time to time, may permit the
Participant to satisfy such tax withholding obligation, in whole or
in part (without limitation) by one or more of the following:
(a) paying cash, (b) electing to have the Company
withhold otherwise deliverable shares of Common Stock having a Fair
Market Value equal to the minimum amount required to be withheld,
(c) delivering to the Company already vested and owned shares
of Common Stock having a Fair Market Value equal to the amount
required to be withheld, or (d) selling a sufficient number of
such shares of Common Stock otherwise deliverable to Participant
through such means as the Company may determine in its sole
discretion (whether through a broker or otherwise) equal to the
amount required to be withheld. If the Participant fails to make
satisfactory arrangements for the payment of any required tax
withholding obligations hereunder at the time any applicable Shares
otherwise are scheduled to vest pursuant to paragraph 3, the
Participant will permanently forfeit such Shares and the Shares
will be returned to the Company at no cost to the
Company.
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8. Rights
as Stockholder . Neither the Participant nor any person
claiming under or through the Participant will have any of the
rights or privileges of a stockholder of the Company in respect of
any Shares deliverable hereunder unless and until certificates
representing such Shares (which may be in book entry form) will
have been issued, recorded on the records of the Company or its
transfer agents or registrars, and delivered to the Participant
(including through electronic delivery to a brokerage account).
After such issuance, recordation and delivery, the Participant will
have all the rights of a stockholder of the Company with respect to
voting such Shares and receipt of dividends and distributions on
such Shares.
9. No
Effect on Employment or Service . Subject to the terms of any
employment contract with the Participant, the Participant’s
employment or other service with the Company and its Subsidiaries
is on an at-will basis only. Accordingly, subject to the terms of
any employment contract with the Participant, the terms of the
Participant’s employment or service with the Company and its
Subsidiaries will be determined from time to time by the Company or
the Subsidiary employing the Participant (as the case may be), and
the Company or the Subsidiary will have the right, which is hereby
expressly reserved, to terminate or change the terms of the
employment or service of the Participant at any time for any reason
whatsoever, with or without good cause. The transactions
contemplated hereunder and the vesting schedule set forth on the
first page of this Award Agreement do not constitute an express or
implied promise of continued employment for any period of
time.
10.
Address for Notices . Any notice to be given to the Company
under the terms of this Award Agreement will be addressed to
Company at Atmel Corporation, Attention: Stock Administration
Department, 2325 Orchard Parkway, San Jose, California 95131, or at
such other address as the Company may hereafter designate in
writing.
11. Grant
is Not Transferable . Except to the limited extent provided in
paragraphs 5 and 6, this Award and the rights and privileges
conferred hereby will not be transferred, assigned, pledged or
hypothecated in any way (whether by operation of law or otherwise)
and will not be subject to sale under execution, attachment or
similar process. Upon any attempt to transfer, assign, pledge,
hypothecate or otherwise dispose of this Award, or any right or
privilege conferred hereby, or upon any attempted sale under any
execution, attachment or similar process, this Award and the rights
and privileges conferred hereby immediately will become null and
void.
12.
Restrictions on Sale of Securities . The Shares issued as
payment for vested Restricted Stock Units under this Award
Agreement will be registered under U.S. federal securities laws and
will be freely tradable upon receipt. However, a
Participant’s subsequent sale of the Shares may be subject to
any market blackout-period that may be imposed by the Company and
must comply with the Company’s insider trading policies, and
any other applicable securities laws.
13.
Binding Agreement . Subject to the limitation on the
transferability of this Award contained herein, this Award
Agreement will be binding upon and inure to the benefit of the
heirs, legatees, legal representatives, successors and assigns of
the parties hereto.
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14.
Additional Conditions to Issuance of Stock . The Company
will not be required to issue any certificate or certificates for
Shares hereunder prior to fulfillment of all the following
conditions: (a) the admission of such Shares to listing on all
stock exchanges on which such class of stock is then listed;
(b) the completion of any registration or other qualification
of such Shares under any U.S. state or federal law or under the
rulings or regulations of the Securities and Exchange Commission or
any other governmental regulatory body, which the Administrator
will, in its absolute discretion, deem necessary or advisable;
(c) the obtaining of any approval or other clearance from any
U.S. state or federal governmental agency, which the Administrator
will, in its absolute discretion, determine to be necessary or
advisable; and (d) the lapse of such reasonable period of time
following the date of vesting of the Restricted Stock Units as the
Administrator may establish from time to time for reasons of
administrative convenience.
15. Plan
Governs . This Award Agreement is subject to all terms and
provisions of the Plan. In the event of a conflict between one or
more provisions of this Award Agreement and one or more provisions
of the Plan, the provisions of the Plan will govern.
16.
Administrator Authority . The Administrator will have the
power to interpret the Plan and this Award Agreement and to adopt
such rules for the administration, interpretation and application
of the Plan as are consistent therewith and to interpret or revoke
any such rules (including, but not limited to, the determination of
whether or not any Restricted Stock Units have vested). All actions
taken and all interpretations and determinations made by the
Administrator in good faith will be final and binding upon
Participant, the Company and all other interested persons. No
member of the Board or its Committee administering the Plan will be
personally liable for any action, determination or interpretation
made in good faith with respect to the Plan or this Award
Agreement.
17.
Captions . Captions provided herein are for convenience only
and are not to serve as a basis for interpretation or construction
of this Award Agreement.
18.
Agreement Severable . In the event that any provision in
this Award Agreement will be held invalid or unenforceable, such
provision will be severable from, and such invalidity or
unenforceability will not be construed to have any effect on, the
remaining provisions of this Award Agreement.
19.
Modifications to the Award Agreement . This Award Agreement
constitutes the entire understanding of the parties on the subjects
covered. The Participant expressly warrants that he or she is not
accepting this Award Agreement in reliance on any promises,
representations, or inducements other than those contained herein.
Modifications to this Award Agreement or the Plan can be made only
in an express written contract executed by a duly authorized
officer of the Company. Notwithstanding anything to the contrary in
the Plan or this Award Agreement, the Company reserves the right to
revise this Award Agreement as it deems necessary or advisable, in
its sole discretion and without the consent of the Participant, to
comply with Section 409A or to otherwise avoid imposition of
any additional tax or income recognition under Section 409A
prior to the actual payment of Shares pursuant to this Award of
Restricted Stock Units.
6
20.
Amendment, Suspension or Termination of the Plan . By
accepting this Restricted Stock Unit award, the Participant
expressly warrants that he or she has received a right to receive
stock under the Plan, and has received, read and understood a
description of the Plan. The Participant understands that the Plan
is discretionary in nature and may be amended, suspended or
terminated by the Company at any time. Notwithstanding the
foregoing, no amendment, suspension or termination of the Plan
shall impair the Participant’s rights under this Award of
Restricted Stock Units, unless the Participant consents in writing
to such action.
21.
Notice of Governing Law . This award of Restricted Stock
Units shall be governed by the internal substantive laws, without
regard to the choice of law rules, of the State of
California.
22.
Electronic Delivery . The Company may, in its sole
discretion, decide to deliver any documents related to Restricted
Stock Units awarded under the Plan or future Restricted Stock Units
that may be awarded under the Plan by electronic means, or to
request the Participant’s consent to participate in the Plan
by electronic means. The Participant hereby consents to receive
such documents by electronic delivery and if requested, to agree to
participate in the Plan through an on-line or electronic system
established and maintained by the Company or another third party
designated by the Company.
7
(AS AMENDED AND RESTATED MAY 20,
2009)
NOTICE OF GRANT OF RESTRICTED
STOCK UNITS
Unless otherwise
defined herein, the terms defined in the Atmel Corporation 2005
Stock Plan (the “ Plan ”) shall have the same
defined meanings in this Notice of Grant of Restricted Stock Units
(the “ Notice of Grant ”).
You have been
granted an Award of restricted stock units (“ Restricted
Stock Units ”), subject to the terms and conditions of
the Plan and this Notice of Grant and the Restricted Stock Unit
Agreement, attached hereto as Exhibit A, including any country
specific appendix thereto (together, the “ Award
Agreement ”), as follows:
Number of
Restricted Stock Units : «RSU Shares»
Vesting
Commencement Date :
Vesting
Schedule : The Restricted Stock Units will vest, in whole or in
part, in accordance with the following schedule:
[Insert
vesting schedule]
Your signature
below indicates your agreement and understanding that this Award is
subject to and governed by the terms and conditions of the Plan and
this Award Agreement. For example, important additional information
on vesting and forfeiture of the Restricted Stock Units is
contained in paragraphs 3 through 5 of Exhibit A. PLEASE BE
SURE TO READ ALL OF EXHIBIT A AND THE APPENDIX, WHICH CONTAINS THE
SPECIFIC TERMS AND CONDITIONS OF THIS AWARD AGREEMENT. You further
represent that you have reviewed the Plan and this Award Agreement
in their entirety, have had an opportunity to obtain the advice of
counsel prior to executing this Award Agreement and fully
understand all provisions of the Plan and Award Agreement. You
hereby agree to accept as binding, conclusive and final all
decisions or interpretations of the Administrator upon
any
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This form of
Award Agreement is intended for Participants, including U.S.
citizens, working outside the U.S. at the time of grant.
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questions
relating to the Plan and Award Agreement. You further agree to
notify the Company upon any change in the residence address
indicated below.
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PARTICIPANT:
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ATMEL
CORPORATION:
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/s/ Steven
Laub
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Signature
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By: Steven
Laub
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President and
Chief Executive Officer
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Print
Name
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Title
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DATED:
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Residence
Address
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2
(AS AMENDED AND RESTATED MAY 20,
2009)
RESTRICTED STOCK UNIT
AGREEMENT
1.
Grant . The Company hereby grants to the Participant under
the Plan an Award of Restricted Stock Units, subject to all of the
terms and conditions in this Award Agreement, including any
country-specific appendix thereto, and the Plan. When Shares are
issued to the Participant in accordance with paragraph 5 for vested
Restricted Stock Units, par value will be deemed paid by the
Participant for each Restricted Stock Unit by services rendered by
the Participant to the Company or its Subsidiary or Affiliate, and
will be subject to the appropriate withholding for Tax-Related
Items (as defined in paragraph 7).
2.
Company’s Obligation to Pay . Each Restricted Stock
Unit has a value equal to the Fair Market Value of a Share on the
date it vests. Unless and until the Restricted Stock Units will
have vested in the manner set forth in paragraphs 3 and 4, the
Participant will have no right to settlement of any such Restricted
Stock Units. Prior to actual settlement 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. Settlement of any vested
Restricted Stock Units will be made in whole Shares only and not
cash.
3.
Vesting Schedule . Subject to paragraph 4 and any
country-specific vesting provisions set forth in the appendix, the
Restricted Stock Units awarded by this Award Agreement will vest in
the Participant according to the vesting schedule set forth on the
first page of this Award Agreement, subject to the
Participant’s continuing to be an active Service Provider
through each such date.
4.
Forfeiture upon Termination of Continuous Service .
Notwithstanding any contrary provision of this Award Agreement, if
the Participant ceases to be an active Service Provider for any or
no reason, then the unvested Restricted Stock Units (after taking
into account any accelerated vesting that may occur as the result
of any such termination) awarded by this Award Agreement will
thereupon be forfeited at no cost to the Company and the
Participant will have no further rights thereunder.
5.
Payment after Vesting . Any Restricted Stock Units that vest
in accordance with paragraph 3 will be paid to the Participant (or
in the event of the Participant’s death, to his or her heirs)
in whole Shares as soon as administratively practicable after
vesting, subject to paragraph 7, but in each such case no later
than the date that is two-and-one-
3
half months
from the end of the Company’s tax year that includes the
vesting date. 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 the Participant ceasing to be a
Service Provider (provided that such cessation is a
“separation from service” within the meaning of
Section 409A, as determined by the Company), other than due to
death, and if (x) the Participant is a “specified
employee” within the meaning of Section 409A at the time
of such cessation and (y) the payment of such accelerated
Restricted Stock Units will result in the imposition of additional
tax under Section 409A if paid to the Participant on or within
the six (6) month period following the Participant ceasing to
be 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 such cessation,
unless the Participant dies during such six (6) month period,
in which case, the Restricted Stock Units will be paid to the
Participant’s heirs as soon as practicable following his or
her death, subject to paragraph 7. 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 U.S. Internal Revenue Code of 1986, as amended (the
“Code”), and any proposed, temporary or final Treasury
Regulations and Internal Revenue Service guidance thereunder, as
each may be amended from time to time.
6.
Payments after Death . Any distribution or delivery to be
made to the Participant under this Award Agreement will, if the
Participant is then deceased, be made to the Participant’s
heirs. Any such transferee must furnish the Company with
(a) written notice of his or her status as transferee, and
(b) evidence satisfactory to the Company to establish the
validity of the transfer and compliance with any laws or
regulations pertaining to said transfer.
7.
Responsibility for Taxes . Notwithstanding any contrary
provision of this Award Agreement, no certificate representing the
Shares will be issued to the Participant, unless and until
satisfactory arrangements (as determined by the Administrator) will
have been made by the Participant with respect to the payment of
any or all income tax, social insurance, payroll tax, payment on
account or other tax-related withholding (“Tax-Related
Items”). The Administrator, in its sole discretion and
pursuant to such procedures as it may specify from time to time,
may satisfy such withholding for Tax-Related Items, in whole or in
part (without limitation) by one or more of the
following:
a)
accepting cash from the Participant;
b)
withholding from Shares otherwise del
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