TREEHOUSE FOODS,
INC.
RESTRICTED STOCK UNIT
AGREEMENT
THIS AGREEMENT (the “Agreement”),
effective as of the date indicated on the attached Notice of Grant,
is made and entered into by and between TreeHouse Foods, Inc., a
Delaware corporation (the “Company”), and the
individual named on the attached Notice of Grant (the
“Participant”).
WITNESSETH:
WHEREAS, the Board of Directors of the Company
has adopted and approved the TreeHouse Foods, Inc. Equity and
Incentive Plan (the “Plan”), which was approved, as
required, by the Company’s stockholders and provides for the
grant of stock-based awards and cash incentive awards to certain
eligible Employees, Consultants and non-Employee Directors of the
Company and its Affiliates; and
WHEREAS, the Compensation Committee (the
“Committee”) has selected the Participant to
participate in the Plan and has awarded the restricted stock units
described in this Agreement (the “Units”) to the
Participant; and
WHEREAS, the parties hereto desire to evidence
in writing the terms and conditions of the Units; and
WHEREAS, capitalized terms used herein and not
otherwise defined in this Agreement shall have the meanings set
forth in the Plan.
NOW, THEREFORE, in consideration of the
foregoing and of the mutual covenants and agreements herein
contained, and as an inducement to the Participant to continue as
an Employee of the Company (or an Affiliate) and to promote the
success of the business of the Company and its Affiliates, the
parties hereby agree as follows:
1. Grant of
Units. The Company hereby grants to the Participant,
effective as of the date shown on the attached Notice of Grant (the
“Date of Grant”), and on the terms and subject to the
conditions, limitations and restrictions set forth in the Plan and
in this Agreement, the number of Units shown on the attached Notice
of Grant. The Participant hereby accepts the Units from
the Company.
2. Transfer
Restrictions. None of the Units shall be sold, assigned,
pledged or otherwise transferred, voluntarily or involuntarily, by
the Participant prior to vesting of Units pursuant to
paragraph 3, and until permitted pursuant to the terms of the
Plan.
3.
Vesting. Subject to paragraph 4, the Units shall
vest in _______________________________________________________
provided the Participant continues to be employed by the Company
(or an Affiliate) on ___________________________.
4. Upon the
termination of the Participant’s Service to death, Disability
or Retirement, a pro rata portion of the Units shall
vest. Such pro rata portion shall be based on the number
of full calendar months of Particpant’s Service since the
Date of Grant or anniversary thereof, as applicable, divided by
twelve.
5.
Forfeiture. All of the Units that have not vested
pursuant to paragraph 3 or 4 shall be forfeited to the Company
upon the Participant’s termination of Service with the
Company and its Affiliates for any reason.
6.
Payment. The Units shall be converted to Stock or cash,
at the discretion of the Committee, and paid to the Participant as
soon as practicable after the date on which Units vest (but no
later than 45 days following such vesting).
7.
Rights as a
Stockholder. During the restriction period, the
Participant shall not be entitled to any of the rights of a
stockholder with respect to the Units until such Units vest and are
converted to shares of Stock, including without limitation the
right to vote and tender Stock and the right to receive dividends
and other distributions payable with respect to Stock.
8. Tax
Withholding. The Company shall have the right to require
the Participant to remit to the Company, or to withhold from other
amounts payable to the Participant, as compensation or otherwise,
an amount sufficient to satisfy all federal, state and local
withholding tax requirements as provided in the Plan, or the
Company shall have the right to retain (or the Participant may be
offered the opportunity to elect to tender) the number of shares of
stock whose Fair Market Value equals such
amount required to be withheld.
9. Plan
Incorporated. The Participant accepts the Units subject to
all the provisions of the Plan, which are incorporated into this
Agreement, including the provisions that authorize the Committee to
administer and interpret the Plan and which provide that the
Committee’s decisions, determinations and interpretations
with respect to the Plan are final and conclusive on all persons
affected thereby. Except as otherwise set forth in this
Agreement, terms defined in the Plan have the same meanings
herein.
(a) No Guaranteed
Service or Employment. Neither the granting of the
Units, nor any provision of this Agreement or the Plan, shall
(a) affect the right of the Company to terminate the
Participant at any time, with or without Cause, or
(b) s