VIASAT, INC.
1996 EQUITY PARTICIPATION PLAN
EXECUTIVE RESTRICTED STOCK UNIT AWARD AGREEMENT
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Grant:
shares of Restricted Stock
Units
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Name:
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Signature:
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1. Grant
. Effective on the Grant Date, you have been granted the number of
shares indicated above of Restricted Stock Units (the
“RSU”), providing you the entitlement to receive Common
Stock of ViaSat, Inc., a Delaware corporation (the
“Company”), in accordance with the provisions of this
Agreement and the provisions of the 1996 Equity Participation Plan
of ViaSat, Inc. (as amended from time to time, the
“Plan”).
2.
Forfeiture Upon Termination . Until vested, the RSU shall be
subject to forfeiture in the event of the termination of your
employment or service with the Company and all of its Subsidiaries
for any reason, whether such termination is occasioned by you, by
the Company or any of its Subsidiaries, with or without cause or by
mutual agreement (“Termination of
Employment”).
3.
Transferability . Until vested and issued upon settlement,
the RSU or any right or interest therein is not transferable except
by will or the laws of descent and distribution. Until Common Stock
is issued upon settlement of the RSU, you will not be deemed for
any purpose to be, or have rights as, a Company shareholder by
virtue of this award. You are not entitled to vote any shares of
Common Stock by virtue of this award.
(a) The RSU
will vest and no longer be subject to the restrictions of and
forfeiture under this Agreement in one-fourth (1/4
th or 25%) increments. The first one-fourth will
vest on the 13 th month anniversary of the Grant Date and the
remaining three-fourths will vest on the second, third and fourth
anniversaries of the Grant Date.
(b) Notwithstanding
the foregoing, the RSU shall be fully vested upon your Termination
of Employment by reason of death or permanent disability.
“Permanent disability” means that you are unable to
perform your duties by reason of any medically determined physical
or mental impairment which can be expected to result in death or
which has lasted or is expected to last for a continuous period of
at least 12 months, as reasonably determined by the
Compensation and Human Resources Committee of the Board (the
“Committee”) in their discretion.
5.
Payment . Except as provided in paragraph 6, upon vesting of
the RSU, you will be issued shares of Common Stock equal to the
number of shares vested, in settlement of the RSU (subject to the
withholding requirements described in paragraph 7 below, as
applicable).
(i) If
you make a valid initial deferral election, then you can elect to
defer the timing of receipt of the Common Stock otherwise
deliverable under paragraph 5 to a later date. You may make a
separate initial deferral election with respect to each one-fourth
portion of your RSU award. The initial deferral election must be
made within 30 days of the Grant Date.
(ii) If
you are a “specified employee” (as determined in
accordance with Section 409A(a)(2)(B)(i) of the Code and
Treasury Regulation Section 1.409A-1(i)) on the date of your
“separation from service” (as defined in
Section 1.409A-1(h) of the Treasury Regulations), the delivery
of any of your Common Stock to be delivered upon such
“separation from service” shall be delayed to the
extent necessary to avoid a prohibited distribution under
Section 409A(a)(2)(B)(i) of the Code, and such payment shall
be paid or distributed to you on the earlier of (a) the
expiration of the six-month period measured from the date of your
“separation from service” or (b) the date of your
death.
(b)
Subsequent Deferral Election . Under certain circumstances,
you may make one additional deferral election with respect to
receipt of the Common Stock otherwise deliverable. That second
deferral election:
(i) must
be made at least 12 months prior to the scheduled delivery
date;
(ii) will
not be effective for at least 12 months after you make it;
and
(iii) must
postpone delivery for at least five years but no more than 10 years
from the scheduled delivery date.
Notwithstanding
any deferral election you make, all Common Stock will be delivered
in satisfaction of the RSU upon a Change in Control (so long as
such Change in Control also constitutes a change in the ownership
or effective control of the corporation, or a change in the
ownership of a substantial portion of the assets of the
corporation, within the meaning of Section 409A(a)(2)(A)(v) of
the Code and the Section 1.409A-3(i
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