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. All RSUs covered by this Grant
Notice are intended to qualify for favorable treatment under French
tax and social security legislation related to “attribution
d’actions gratuites” (as defined by Article L.
225-197-1 to 5 of the French Commercial Code), with respect to
Participants who are residents of France for tax purposes.
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:
|
|
|
|
|
|
|
|
|
Incremental
Percentage
|
|
|
Date
|
|
of Award Being
Vested
|
|
Second Anniversary of Grant Date
|
|
|
50
|
%
|
Third Anniversary of Grant Date
|
|
|
25
|
%
|
Fourth Anniversary of Grant Date
|
|
|
25
|
%
|
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, and shall be settled in shares of Common Stock that
are not subject to the restrictions on transfer described in
Section 2(e) , as required by article L. 225-197-3 and
article L. 225-197-1-I, 5 th and 6 th paragraphs of the French Commercial Code,
respectively. Notwithstanding the foregoing, as required by article
L. 225-197-3 of the French Commercial Code, in the event of a
Participant’s death, unless a beneficiary shall notify the
Company of such beneficiary’s entitlement to the
Participant’s RSUs within six months following the death of
the Participant, all RSUs that vested as a result of the
Participant’s death shall be forfeited.
(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 the Committee may provide for one or more of the following:
(i) that all outstanding unvested RSUs shall immediately vest
on the date of such Change in Control, subject to
Section 2(d) below, and shall be settled in shares of
Common Stock that are not subject to the restrictions on transfer
described in Section 2(e) , (ii) that all of the terms
and provisions of this Grant Notice shall continue in effect
without change as a result of such Change in Control,
(iii) that each RSU be converted into the right to receive the
same consideration with respect to each RSU as the stockholders of
the Company receive for each share of Common Stock upon the Change
in Control except that the Committee may provide that the
consideration may be subject to the same vesting conditions and
restrictions on transfer to which the Common Stock would have been
subject pursuant to Section 2(e) , and/or (iv) any of
the other events referenced in Section 6(k) of the Plan.
(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 each RSU Vesting Date, 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 RSU Vesting Date. The
Common Stock delivered to the Participant’s account with the
Administrator shall be “non-transferable” (referred to
as the “Non-Transferable Stock”) during the period
beginning on each RSU Vesting Date until the expiration of the
two-year period following such RSU Vesting Date. Such
Non-Transferable Stock may be maintained in
“book-entry” form, registered in the
Participant’s name on the books of the Company and no actual
certificates therefore shall be delivered by the Company, or the
Company may make other arrangements with the Administrator with
respect to the form of the Non-Transferable Stock as the Company
deems necessary to comply with the provisions of this Grant Notice.
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. For purposes of this Grant Notice,
“non-transferable” shall mean that the
2
Participant is
not allowed to sell, assign, transfer, pledge, hypothecate or
otherwise dispose of the Non-Transferable Stock. The Participant
shall have all rights of a stockholder in respect of the
Non-Transferable Stock, including, without limitation, the right to
vote the Non-Transferable Stock and the right to receive any
dividends on the Non-Transferable Stock, except that any and all
shares of Common Stock or other securities received by the
Participant with respect to the Non-Transferable Stock as a result
of a stock dividend, stock split, spin-off, split-off,
recapitalization, capital reorganization, reclassification of
shares of Common Stock, merger or consolidation shall be deemed to
be Non-Transferable Stock subject to all of the applicable
provisions of this Grant Notice and shall cease being
Non-Transferable Stock at the same time as the Non-Transferable
Stock giving rise to such additional shares or securities
received.
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 unless and until
the Company delivers the Non-Transferable Stock to the
Participant’s account in accordance with
Section 2(e) .
4. Definitions .
“Disability” or “Disabled” means that, in
the determination of the Committee, the Participant is totally and
permanently disabled, as established by the Labor doctor
(“médecin du travail”) and corresponding to the
second or third rank as provided under Article L. 341-4 of the
French social security code. “Specific Action” means a
specific action not included in, but authorized under, the Plan and
which is required to comply with the French tax and social security
legislation related to “attribution d’actions
gratuites” (as defined by Article L. 225-197-1 to 5 of
the French Commercial Code).
5. No Employment Rights; Termination of
Employment . Nothing in this Grant Notice shall give the
Participant any right to continue in the employment of the Company
or any Affiliate or to interfere in any way with the right of the
Company or any Affiliate to terminate the employment of the
Participant. Except as otherwise expressly provided in
Sections 2(b) and 2(c) hereof, RSUs that are not vested
as of the date the Participant’s employment with the Company
and its Affiliates terminates or ceases for any reason or no
reason, whether voluntary or involuntary (including, without
limitation, termination or cessation of employment with or without
cause or arising out of or in connection with a reduction in force,
sale or shutdown of certain operations, or otherwise), shall
immediately and automatically terminate and be forfeited in their
entirety.
6. Plan Provisions . The provisions
of the Plan shall govern, and if or to the extent that there are
inconsistencies between those provisions and the provisions hereof,
the provisions of the Plan shall govern. A copy of the Plan is
available on the Company’s global Intranet Web site,
currently located at http://insideworldwide.com . For the
avoidance of doubt, if this Grant Notice provides for a Specific
Action authorized under the Plan, then this Grant Notice and not
the Plan shall control as to the Specific Action to be
taken.
3
7. Withholding . In the event that
prior to the date that any withholding tax is due hereunder, the
Participant has not provided the Company with notice (which may be
by written notice or by an election made via the website operated
by the Administrator) (the “Payment Notice”) to the
effect that the Participant will provide the Company (or the
Administrator on the Company’s behalf) payment of the amount,
if any, deemed necessary by the Company in its reasonable
discretion to enable the Company and its Affiliates to satisfy the
minimum federal, foreign or other tax withholding or similar
obligations of the Company and its Affiliates with respect to the
shares of Common Stock (and/or any other items which may be
distributable to the Participant pursuant to Section 2(c),
2(e) or 3 hereof), or in the event the Participant provides the
Payment Notice but does not timely deliver payment of the
appropriate amount to the Company (or the Administrator on the
Company’s behalf), then the Company shall satisfy the minimum
federal, foreign or other tax withholding or similar obligation of
the Company and its Affiliates with respect to such vesting by
withholding the number of whole shares of Common Stock (on and
valued as of the applicable date) (and/or other items which may be
distributable to the Participant on the such date pursuant to
Section 2(c), 2(e) or 3 hereof) sufficient to satisfy
such minimum withholding and other obligations.
8. Notices . All notices or other
communications to be given or delivered in connection with this
Grant Notice shall be either in electronic format or in writing and
shall be deemed to have been properly served if delivered
electronically, personally, by courier, or by certified or
registered mail, return receipt requested and first class postage
prepaid, in the case of notices to the Company, to the attention of
Director of Human Resources, at the Company’s offices at 5
Clock Tower Place, Suite 500, Maynard, MA 01754 and in the
case of notices to the Participant, to the Participant’s last
known address (as noted in the Participant’s personnel file)
or such other addresses (including any electronic email addresses)
as the recipient party has specified by prior notice to the sending
party. All such notices and communications shall be deemed received
upon the actual delivery thereof in accordance with the
foregoing.
9. Binding Effect; Headings; Status
. This Grant Notice shall be binding upon and shall inure to the
benefit of the Company, the Participant and their respective
successors and permitted assigns. The subject headings of Sections
are included for the purpose of convenience only and shall not
affect the construction or interpretation of any of the provisions
of this Grant Notice. The Participant’s rights under this
Grant Notice, including, without limitation, rights to RSUs, shall
at all times that such rights exist represent a general obligation
of the Company. The Participant shall be a general creditor of the
Company with respect thereto and shall not have a secured or
preferred position with respect thereto. Nothing in this Grant
Notice or the Plan shall be deemed to create an escrow, trust,
custodial account or fiduciary relationship of any kind.
10. Non-Assignability, Etc. The
Participant’s rights under this Grant Notice, including,
without limitation, rights to RSUs, are not assignable or
transferable except upon the Participant’s death to a
beneficiary designated by the Participant in a written beneficiary
designation filed with the Company or, if no duly designated
beneficiary shall survive the Participant, pursuant to the
Participant’s will and/or by the laws of descent and
distribution. Any and all such rights shall not be subject to
anticipation, alienation, sale, transfer, encumbrance except as
otherwise expressly permitted herein.
4
11. Securities Laws; Insider
Trading . The Committee may from time to time impose any
conditions on the RSUs and shares of Common Stock as it deems
necessary or advisable to ensure that the Plan, this Grant Notice
and the issuance and resale or any securities comply with all
applicable securities laws, including without limitation the
Securities Act and Rule 16b-3 under the Exchange Act. Such
conditions may include, among other things, the requirement that
certificates for shares of Common Stock to be issued to the
Participant hereunder contain a restrictive legend in such form and
substance as may be determined by the Committee. Without limiting
the foregoing, it is understood that Affiliates of the Company may
resell Common Stock only pursuant to an effective registration
statement under the Securities Act, pursuant to Rule 144 under
the Securities Act, or pursuant to another exemption from
registration under the Securities Act. The Participant understands
and agrees that any and all transactions involving shares of Common
Stock or other securities of the Company must comply with
applicable laws, rules, regulations and policies, including but not
limited to the Company’s policy regarding insider trading,
which policy, among other things, prohibits transactions involving
shares of Common Stock or other securities of the Company by
individuals who have material non-public information relating to
the Company.
12. Black-Out Period . As provided
by article L. 225-197-1-I 8 th paragraph of the French Commercial Code, the
Participant shall not sell, assign, transfer, pledge, hypothecate
or otherwise dispose of the shares of Common Stock delivered
pursuant to this Grant Notice during (1) the ten
(10) trading days preceding and following the date on which
the Company’s Form 10-K is filed with the U.S. Securities and
Exchange Commission and (2) the period between the date on
which the Company’s Board of Directors (“organes
sociaux”) become aware of information which, if made public,
could have a material impact on the price of the shares of the
Company’s Common Stock, and the date ten (10) trading
days after such information is made public.
(a) This Grant Notice shall be deemed to be
an Award Agreement as defined in the Plan. It is understood and
agreed that for purposes of administering this Grant Notice and the
RSUs granted to the Participant, the records of the Company and/or
the Administrator may reflect a separate award and a separate award
identification number for the RSUs scheduled to vest on each
separate RSU Vesting Date.
(b) This Grant Notice shall be governed by
and construed in accordance with the laws of the State of New York
(other than the conflict of laws provisions thereof). This Grant
Notice constitutes the entire understanding of the legal
obligations between the parties with respect to the subject matter
hereof and controls and supersedes any prior understandings,
agreements or representations by or between the parties, written or
oral with respect to its subject matter, including but not limited
to the provisions of any and all employment agreements and offer
letters (such as terms providing for acceleration or other
enhancement to restricted stock or other equity interests in the
event of the occurrence of specified events), except and only to
the extent of any rights of the Company or its Affiliates relating
to Section 280G of the Internal Revenue Code of 1986, as
amended.
5
(c) The
Participant should not rely on any representation not set forth in
this Grant Notice.
(d) The Participant has received a copy of
a French language translation of this Grant Notice (attached as
Annex A) and a French language “Brochure” explaining
the provisions of the RSUs covered by this Grant Notice (attached
as Annex B). In addition, a French language translation of the Plan
is available on the Company’s global Intranet Web site,
currently located at http://insideworldwide.com . The
provisions of this Grant Notice (and the Plan as provided in
Section 6 of this Grant Notice) shall govern, and if or
to the extent that there are inconsistencies between those
provisions and the provisions of the French language translation of
this Grant Notice and/or the Brochure, the provisions of this Grant
Notice and the Plan shall govern.
14. Amendment . This Grant Notice
may be unilaterally amended by the Company without
Participant’s consent as provided in the Plan or to conform
the Grant Notice to any changes required by the Administrator or as
a result of the change of Administrator.
6
[French language translation of
the Grant Notice]
MONSTER WORLDWIDE, INC.
NOTIFICATION D’ATTRIBUTION D’ACTIONS GRATUITES A DES
RESIDENTS FRANCAIS
MONSTER WORLDWIDE, INC., une
société de droit du Delaware (ci-après
désignée la “Société”)
notifie par la présente à [Participant Name] (le
“Participant”) l’attribution d’Actions
Gratuites (ci-après désignées
“AG”) par le Comité au Participant le [Grant
Date] (la “Date d’Attribution”)
conformément au Plan d’Intéressement par
Attribution d’Actions 2008 de la Société, dans
sa dernière version applicable (le “Plan”) et
aux termes et conditions stipulés dans la présente
Notification et dans le Plan. Toutes les AG attribuées en
application de la présente Notification.sont appelées
à ouvrir droit à un traitement favorable aux termes
de la législation française fiscale et
régissant la sécurité sociale relative
à « l’attribution d’actions gratuites
» (telle que cette expression est définie par
l’article L. 225-197-1 à 5 du Code du Commerce
français), au bénéfice des Participants qui
résident fiscalement en France. Les termes commençant
par une majuscule, s’ils ne font pas l’objet
d’une autre définition dans les présentes,
auront le même sens que dans le Plan.
1. Attribution des AG . Sous
réserve des termes et conditions de la présente
Notification et du Plan, le Participant s’est vu
attribué [Number of RSUs] AG. Les AG seront acquises et les
paiements correspondant à ces AG seront effectués,
s’ils le sont, conformément à la
Section 2 des présentes.
(a) Les AG attribuées au Participant
seront acquises et le paiement correspondant à ce nombre
d’AG sera effectué à concurrence du pourcentage
d’AG indiqué en face des dates figurant
ci-après (chacune étant une “Date
d’Acquisition d’AG”), sous réserve que le
Participant soit resté sans interruption salarié de
la Société ou de l’une des
Sociétés Affiliées de cette dernière
entre la Date d’Attribution et la Date d’Acquisition
d’AG considérée :
|
|
|
|
|
|
|
|
|
Pourcentage progressif
de
|
|
|
|
|
l’attribution ouverte
à
|
|
|
Date
|
|
l’acquisition
|
|
Second Anniversaire de la Date
d’Attribution
|
|
|
50
|
%
|
Troisième Anniversaire de la Date
d’Attribution
|
|
|
25
|
%
|
Quatrième Anniversaire de la Date
d’Attribution
|
|
|
25
|
%
|
Il ne sera pas
tenu compte de toute fraction d’AG résultant de la
stricte application des pourcentages progressifs susvisés et
le nombre réel d’AG acquis à toute Date
d’Acquisition d’AG donnée correspondra au seul
nombre entier d’AG déterminé en appliquant le
pourcentage progressif pertinent.
A-1
(b) Si, pendant que le Participant est
employé par la Société ou par l’une des
Sociétés Affiliées de cette dernière
après la Date d’Attribution :
(i) le
Participant décède, ou
(ii) le
Participant encourt une Incapacité,
(ces
événements étant collectivement
désignés ci-après des «
Evénements d’Accélération »),
toutes les AG non encore acquises le deviendront
immédiatement à compter de la date de
l’Evénement d’Accélération
considéré, sous réserve des termes de la
Section 2(d) ci-après, et elles seront
réglées en actions ordinaires qui ne seront pas
assujetties aux restrictions limitant la cession, décrites
à la Section 2(e) , tel que le prescrit
l’article L. 225-197-3 et l’article L. 225-197-1-I,
5 ème
et 6 ème paragraphes du Code du Commerce français,
respectivement. Nonobstant ce qui précède, comme le
prescrit l’article L. 225-197-3 du Code du Commerce
français, en cas de décès d’un
Participant, toutes les AG acquises en conséquence du
décès du Participant deviendront caduques si,
écoulé le délai de six mois suivant le
décès du Participant, aucun
bénéficiaire n’a notifié la
Société de son droit aux AG du
Participant.
(c) Si, pendant que le Participant est
employé par la Société ou par l’une des
Sociétés Affiliées de cette dernière
après la Date d’Attribution, un Changement de
Contrôle a lieu, le Comité pourra prendre l’une
des dispositions suivantes ou plusieurs : (i) toutes les AG
non encore acquises le deviendront immédiatement à la
date du Changement de Contrôle considéré, sous
réserve de la Section 2(d) ci-après, et
seront réglées en Actions Ordinaires qui ne sont
assujetties à aucune des restrictions limitant leur
transfert, décrites à la Section 2(e) ,
(ii) tous les termes et stipulations de la présente
Notification continueront de prendre effet sans changement à
la suite du Changement de Contrôle, (iii) chaque AG sera
convertie en un droit de recevoir la même rétribution
au titre de chaque AG que celle que reçoivent les
actionnaires de la Société au titre de chaque Action
Ordinaire au moment du Changement de Contrôle. Toutefois, le
Comité pourra prévoir que ledit droit à
rétribution soit assujetti aux mêmes conditions
d’acquisition et aux mêmes restrictions limitant le
transfert, que celles auxquelles sont le cas échéant
assujetties les Actions Ordinaires aux termes de la
Section 2(e) , et/ou (iv) le Comité pourra
prendre l’une des autres dispositions
visées
|