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MONSTER WORLDWIDE, INC. RESTRICTED STOCK UNIT AWARD GRANT NOTICE FOR RESIDENTS OF FRANCE

Equity Incentive Plan Agreement

MONSTER WORLDWIDE, INC. RESTRICTED STOCK UNIT AWARD GRANT NOTICE FOR RESIDENTS OF FRANCE | Document Parties: MONSTER WORLDWIDE, INC You are currently viewing:
This Equity Incentive Plan Agreement involves

MONSTER WORLDWIDE, INC

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Title: MONSTER WORLDWIDE, INC. RESTRICTED STOCK UNIT AWARD GRANT NOTICE FOR RESIDENTS OF FRANCE
Governing Law: New York     Date: 7/31/2009
Industry: Business Services     Sector: Services

MONSTER WORLDWIDE, INC. RESTRICTED STOCK UNIT AWARD GRANT NOTICE FOR RESIDENTS OF FRANCE, Parties: monster worldwide  inc
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Exhibit 10.4

MONSTER WORLDWIDE, INC.

RESTRICTED STOCK UNIT AWARD

GRANT NOTICE

FOR RESIDENTS OF FRANCE

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.

2. Vesting .

(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

 

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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.

13. General .

(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.

 

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(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


 

ANNEX A

[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.

2. Acquisition .

(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


 
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