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VIASAT, INC. 1996 EQUITY PARTICIPATION PLAN EXECUTIVE RESTRICTED STOCK UNIT AWARD AGREEMENT

Shareholder Agreement

VIASAT, INC. 1996 EQUITY PARTICIPATION PLAN EXECUTIVE RESTRICTED STOCK UNIT AWARD AGREEMENT | Document Parties: VIASAT INC You are currently viewing:
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VIASAT INC

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Title: VIASAT, INC. 1996 EQUITY PARTICIPATION PLAN EXECUTIVE RESTRICTED STOCK UNIT AWARD AGREEMENT
Date: 10/2/2008
Industry: Communications Equipment     Sector: Technology

VIASAT, INC. 1996 EQUITY PARTICIPATION PLAN EXECUTIVE RESTRICTED STOCK UNIT AWARD AGREEMENT, Parties: viasat inc
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Exhibit 10.4

VIASAT, INC.
1996 EQUITY PARTICIPATION PLAN
EXECUTIVE RESTRICTED STOCK UNIT AWARD AGREEMENT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Grant:                                     shares of Restricted Stock Units

 

Name:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Grant Date:

 

 

 

Signature:

 

 

 

 

 

 

 

 

 

 

 

 

 

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.

4. Vesting .

     (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).

 


 

6. Deferral Election

     (a)  Initial Election .

          (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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