RESTRICTED STOCK UNIT
AWARD
MONSTER WORLDWIDE, INC., a Delaware corporation
(the “Company”), hereby notifies [Participant Name]
(the “Participant”) of a grant of Restricted Stock
Units (“RSUs”) by the Committee to the Participant on
[Grant Date] (the “Grant Date”) pursuant to the
Company’s 2008 Equity Incentive Plan, as amended (the
“Plan”), upon the terms and conditions set forth in
this Grant Notice and the Plan. Capitalized terms not otherwise
defined herein shall have the same meanings as in the
Plan.
1. Grant of RSUs . Subject to the
terms and conditions of this Grant Notice and the Plan, the
Participant has been granted [Number of RSUs] RSUs. The RSUs shall
vest and payment in respect of such RSUs shall be made, if at all,
in accordance with Section 2 hereof.
(a) The RSUs granted to the Participant
shall vest and payment in respect of such number of RSUs shall be
made as to the percentage of the RSUs indicated on the dates
specified below (each an “RSU Vesting Date”), provided
that the Participant has remained in the continuous employment of
the Company or any of its Affiliates from the Grant Date through
and including each applicable RSU Vesting Date:
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Incremental
Percentage
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Date
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of Award Being
Vested
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First Anniversary of Grant Date
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25
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%
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Second Anniversary of Grant Date
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25
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%
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Third Anniversary of Grant Date
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25
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%
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Fourth Anniversary of Grant Date
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25
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%
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Any fractional
RSUs resulting from the strict application of the incremental
percentages set forth above will be disregarded and the actual
number of RSUs becoming vested on any specific RSU Vesting Date
will cover only the full number of RSUs determined by applying the
relevant incremental percentage.
(b) In the event that during the period of
the Participant’s employment with the Company or one of its
Affiliates after the Grant Date:
(i) the
Participant dies, or
(ii) the
Participant incurs a Disability,
(such events
are collectively referred to as “Acceleration Events”),
then all outstanding unvested RSUs shall immediately vest as of the
date of the applicable Acceleration Event, subject to Section
2(d) below.
(c) In the event that during the period of
the Participant’s employment with the Company or one of its
Affiliates after the Grant Date a Change in Control shall occur,
then all outstanding unvested RSUs that have not been forfeited
prior to the date of such Change in Control shall vest on the date
of such Change in Control. In the event that the Change in Control
occurs on a date prior to the date that a Participant is determined
to be Disabled for purposes of the Plan and this Grant Notice, but
the Committee, in its sole determination expects the Participant to
be Disabled at the end of the 9-month period referred to in
Section 4(a) of this Grant Notice, then all of the
unvested RSUs of such Participant, to the extent not previously
forfeited, shall vest upon the date of the Change in
Control.
(d) In the event that any calendar date on
which vesting is purportedly scheduled pursuant to the terms of
Sections 2(a), 2(b) or 2(c) above is not a Business Day
(as defined below), the vesting shall automatically be delayed
until the first Business Day following that calendar date.
“Business Day” means a date on which commercial banks
in New York, New York are open for general business.
(e) On or as soon as reasonably practicable
following the applicable RSU Vesting Date (but in no event later
than the end of the calendar year in which such date occurs), the
Company shall deliver to the Participant’s account with the
third party administering the Company’s equity awards
programs (currently Charles Schwab) (the
“Administrator”) one share of Common Stock with respect
to each whole RSU that vests on such date, subject to
Sections 3 and 7 below. Upon such delivery, all
obligations of the Company with respect to each such RSU shall be
deemed satisfied in full. It is a condition to the Company’s
obligation to deliver any evidence of the shares of Common Stock to
the Participant pursuant to this Grant Notice that the Participant
shall have opened an account with the Administrator.
3. Certain Changes; Rights as a
Stockholder . The number and class of shares of Common Stock or
other securities which are distributable to the Participant with
respect to any RSU covered by this Grant Notice shall be adjusted
proportionately or as otherwise appropriate to reflect any increase
or decrease in the number of issued shares of Common Stock
resulting from a stock split, spin-off, split-off, split-up,
recapitalization, capital reorganization, reclassification of
shares of Common Stock, merger or consolidation, or any like
capital adjustment, or the payment of any stock dividend, and/or to
reflect a change in the character or class of shares covered by the
Plan arising from a readjustment or recapitalization of the
Company’s capital stock, in each case as determined by the
Committee. The Participant shall not have any rights to cash
dividends, voting rights or other rights of a stockholder with
respect to the RSUs covered by this Grant Notice until the Company
delivers Common Stock to the Participant’s account in
accordance with Section 2(e) .
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4.
Definitions . The following term shall have the following
meaning:
(a) “Disability” or
“Disabled” means, notwithstanding any definition in the
Plan, that, in the determination of the Committee, the Participant
is both (i) unable to engage in any substantial gainful
activity by reason of any medically determinable physical or mental
impairment which can be expected to result in death or can be
expected to last for a continuous period of not less than
12 months and (ii) (x) in case the Participant is
eligible for the long term disability program offered to United
States-based employees by the Company or its Affiliates, the
Participant has actually received long term disability benefits for
no less than 9&nb
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