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Form of OFFICEMAX INCORPORATED 2009 Director Restricted Stock Unit Award Agreement

Shareholder Agreement

Form of OFFICEMAX INCORPORATED 2009 Director Restricted Stock Unit Award Agreement | Document Parties: OFFICEMAX INC | OFFICEMAX INCORPORATED You are currently viewing:
This Shareholder Agreement involves

OFFICEMAX INC | OFFICEMAX INCORPORATED

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Title: Form of OFFICEMAX INCORPORATED 2009 Director Restricted Stock Unit Award Agreement
Date: 7/28/2009
Industry: Retail (Specialty)     Sector: Services

Form of OFFICEMAX INCORPORATED 2009 Director Restricted Stock Unit Award Agreement, Parties: officemax inc , officemax incorporated
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Exhibit 99.1

 

Form of OFFICEMAX INCORPORATED

2009 Director Restricted Stock Unit Award Agreement

 

This Restricted Stock Unit Award (the “Award”) is granted on << insert award date >> (the “Award Date”) by OfficeMax Incorporated (“OfficeMax”) to << insert name >> (“Director” or “you”) pursuant to the 2003 OfficeMax Incentive and Performance Plan, as may be amended from time to time (the “Plan”), and pursuant to the following terms of this agreement (the “Agreement”):

 

1.                                        Terms and Conditions.   The Award is subject to all the terms and conditions of the Plan.  All capitalized terms not defined in this Agreement shall have the meaning stated in the Plan.  If there is any inconsistency between the terms of this Agreement and the terms of the Plan, the terms of the Plan shall control unless this Agreement explicitly states that an exception to the Plan is being made.

 

2.                                        Award.   You are hereby awarded << insert RSUs >> restricted stock units, at no cost to you, subject to the restrictions set forth in the Plan and this Agreement.

 

3.                                        Vesting.   Your Award will vest six months following the Award Date, << insert award date >>, if you are then still an OfficeMax Director.  Your Award will vest immediately if you terminate service as a director prior to the six month anniversary of the Award Date due to your death or total and permanent disability.  Vested units will be payable six months following the date of your termination of service as a director due to your (i) retirement or resignation from the Board, (ii) death or (iii) total and permanent disability, as determined by OfficeMax in its sole and complete discretion, provided that such termination constitutes a separation from service under Section 409A of the Internal Revenue Code of 1986, as amended, including applicable regulations and other guidance promulgated thereunder (“Code”), or, if later, upon the first date that payment may be made without violating the requirements of Code Section 409A.  Unless otherwise approved by the Board of Directors or as set forth in Section 4 below, if you terminate service as a director prior to six months following the Award Date for a reason other than death or total and permanent disability, your Award will be forfeited.

 

4.                                        Change in Control. In the event of a Change in Control prior to the end of the vesting period pursuant to paragraph 3, the continuing entity may either continue this Award or replace this Award with an award of at least equal value with terms and conditions not less favorable than the terms and conditions provided in this Agreement, in which case the new award will vest and become payable according to the terms of the applicable award agreement. Notwithstanding any provisions of this Agreement or the Plan to the contrary, if the continuing entity does not so continue or replace this Award, all restrictions described in this Agreement will lapse with respect to all unvested restricted stock units held by you at the time of the Change in Control, so that all such restricted stock units will vest upon the Change in Control; payment of your Award will be made in the common stock of the continuing entity (or the parent thereof, as


 
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