BROADPOINT SECURITIES GROUP, INC.
2007 INCENTIVE COMPENSATION PLAN
RESTRICTED STOCK UNITS AGREEMENT
Executive Compensation Plan Agreement
You are currently viewing:
This Executive Compensation Plan Agreement involves
BROADPOINT SECURITIES GROUP, INC.
. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.
Title: BROADPOINT SECURITIES GROUP, INC.
2007 INCENTIVE COMPENSATION PLAN
RESTRICTED STOCK UNITS AGREEMENT Governing Law: New York Date: 3/26/2009 Industry: Investment Services Sector: Financial
50 of the Top 250 law firms use our Products every day
EXHIBIT 10.83
BROADPOINT SECURITIES GROUP,
INC.
2007 INCENTIVE COMPENSATION
PLAN
RESTRICTED STOCK UNITS AGREEMENT
THIS
RESTRICTED STOCK UNITS AGREEMENT (the “Agreement”)
confirms the grant on February 13, 2009 (the “Grant
Date”) by Broadpoint Securities Group, Inc . , a New
York corporation (the “Company”), to Robert Turner
(“Employee”) of Restricted Stock Units (the
“Units”), including rights to Dividend Equivalents as
specified herein, as follows:
Number Granted: 41,322 Units
How Units Vest: 33-1/3% of the Units if not
previously forfeited, will vest on the first anniversary of the
Grant Date, 33-1/3% of the Units if not previously forfeited, will
vest on the second anniversary of the Grant Date and 33-1/3% of the
Units, if not previously forfeited, will vest on the third
anniversary of the Grant Date, provided that Employee
continues to be employed by the Company or a subsidiary on each
vesting date (each, a “Stated Vesting Date”) .
In addition, if not previously forfeited, the Units will become
vested upon the occurrence of certain events relating to
Termination of Employment to the extent provided in Section 4
of the Terms and Conditions of Restricted Stock Units attached
hereto (the “Terms and Conditions”) . The terms
“vest” and “vesting” mean that the Units
have become non-forfeitable . If Employee has a Termination
of Employment prior to the Stated Vesting Date and the Units are
not otherwise deemed vested by that date, the Units will be
immediately forfeited except as otherwise provided in
Section 4 of the Terms and Conditions.
Settlement Date: Settlement of vested Units will occur on the
earlier of the third anniversary of the Grant Date or when an
Employee has had a Termination of Employment (such date being the
“Settlement Date”), except settlement shall be deferred
in certain cases if required or permitted in accordance with
Section 8(a) of the Terms and Conditions, and Units that become
vested after Termination of Employment shall be settled at the
later of vesting or the date determined in accordance with Section
8(a) of the Terms and Conditions. Units granted hereunder will be
settled by delivery of one Share for each Unit being settled
(together with any cash or Shares resulting from Dividend
Equivalents).
The
Units are subject to (i) the terms and conditions of the
Company’s 2007 Incentive Compensation Plan (the
“Plan”), and (ii) this Agreement, including the
Terms and Conditions attached hereto. The number of Units, the kind
of shares deliverable in settlement of Units, and other terms
relating to the Units are subject to adjustment in accordance with
Section 5 of the Terms and Conditions and Section 5.3 of
the Plan .
Employee
acknowledges and agrees that (i) Units are nontransferable,
except as provided in Section 3 of the Terms and Conditions
and Section 9.2 of the Plan, (ii) Units are subject to
forfeiture upon Employee’s Termination of Employment in
certain circumstances and, following certain Terminations of
Employment, failure of Employee to comply with non-competition and
related conditions set forth in Section 4(e)(iv) prior to
vesting, as specified in Section 4 of the Terms and
Conditions, and (iii) sales of shares delivered in settlement
of Units will be subject to the Company’s policies regulating
trading by employees .
IN
WITNESS WHEREOF, BROADPOINT SECURITIES GROUP, INC . has
caused this Agreement to be executed by its officer thereunto duly
authorized, and Employee has duly executed this Agreement, by which
each has agreed to the terms of this Agreement .