3COM CORPORATION
2003 STOCK PLAN
FORM OF RESTRICTED STOCK
AGREEMENT
(TIME-BASED
VESTING)
THIS STOCK GRANT AGREEMENT (the
“Award Agreement”) is made on
<<date>> , by and between 3Com Corporation (the
“Company”), and <<recipient>> (the
“Participant”).
The Company desires to issue and the
Participant desires to acquire shares of the Common Stock as herein
described, pursuant to the Company’s 2003 Stock Plan, as
amended (the “Plan”), on the terms and conditions set
forth in this Award Agreement and the Plan, the terms and
conditions of which are incorporated herein by reference. Unless
otherwise defined herein, capitalized terms shall have the meaning
given to them in the Plan.
|
IT IS AGREED
between the parties as follows:
|
1.
Issuance of Shares . On the effective date of this Award
Agreement as set forth above (the “Grant Date”), the
Company shall issue to Participant, subject to the provisions
hereof and the Plan, << insert number>> shares
of Common Stock (the “Shares”) in consideration for the
Participant’s past service with the Company.
No Shares shall be issued pursuant
to this Award Agreement if the issuance and delivery of such Shares
would constitute a violation of any applicable federal or state
securities law or other law or regulation, or would fail to satisfy
the requirements of any stock exchange upon which the Shares may
then be listed. As a condition to the issuance and delivery of the
Shares, the Company may require the Participant to satisfy any
qualifications that may be necessary or appropriate, to evidence
compliance with any applicable law or regulation and to make any
representation or warranty with respect thereto as may be requested
by the Company.
2.
Administration . All questions of interpretation concerning
this Award Agreement shall be determined by the Administrator. All
determinations by the Administrator shall be final and binding upon
all persons having an interest in this Award Agreement.
|
3.
|
Vesting and Unvested Share Reacquisition
Right .
|
(a)
Vesting . Provided the Participant remains a Service
Provider through each vesting date, the Shares shall become
“Vested Shares” for purposes of this Award Agreement in
[_________] equal [________] installments, commencing on the
[_________] anniversary of the Grant Date.
(b)
Unvested Share Reacquisition Right . In the event the
Participant’s Service Provider relationship with the Company
is terminated for any reason, with or without cause, the Company
shall automatically reacquire Shares that are not then Vested
Shares (the “Unvested Shares”) and the Participant
shall not be entitled to any payment therefore (the “Unvested
Share Reacquisition Right”).
4.
Legends . The Company may at any time place legends
referencing the Unvested Share Reacquisition Right set forth in
Section 3 above and any applicable federal and/or state securities
law restrictions on all certificates representing Shares subject to
the provisions of this Award Agreement. The Participant shall, at
the request of the Company, promptly present to the Company any and
all certificates representing Shares acquired under this Award
Agreement in the possession of the participant in order to carry
out the provisions of this Section 4. Unless otherwise specified by
the Company, legends placed on such certificates may include, but
shall not be limited to, the following:
“THE SECURITIES REPRESENTED BY
THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS SET FORTH IN THIS
AWARD AGREEMENT BETWEEN THE CORPORATION AND THE REGISTERED HOLDER,
OR SUCH HOLDER’S PREDECESSOR IN INTEREST, A COPY OF WHICH IS
ON FILE AT THE PRINCIPAL OFFICE OF THE
CORPORATION.”
(a)
Establishment of Escrow . To insure that the Shares subject
to the Unvested Share Reacquisition Right will be available for
reacquisition, the Company may require the Participant to deposit
the certificate or certificates evidencing the Unvested Shares with
an escrow agent designated by the Company under the terms and
conditions of an escrow agreement approved by the Company. If the
Company does not require such deposit as a condition of the
issuance of Shares to the Participant, the Company reserves the
right at any time to require the Participant to so deposit the
Unvested Share certificate or certificates in escrow. The Company
shall bear the expenses of the escrow.
(b)
Delivery of Shares to Participant . As soon as practicable
after the expiration of the Unvested Share Reacquisition Right, the
escrow agent shall deliver to the Participant the Shares no longer
subject to such restriction.
6.
Transfers in Violation of Award Agreement . The Company
shall not be required (a) to transfer on its books any Shares which
are sold or transferred in violation of any of the provisions set
forth in this Award Agreement, or (b) to treat as the owner of the
Shares or to accord the right to vote as such owner or to pay
dividends to any transferee to whom the Shares shall have been so
transferred.
7.
Rights as a Stockholder or Employee . The Participant shall
have no rights as a stockholder with respect to the Shares until
such time the Shares are issued to the Participant in the form of a
certificate or certificates for the Shares. Except as provided in
Section 14(a) of the Plan, no adjustment shall be made for
dividends or distributions or other rights for which the record
date is prior to the date such certificate or certificates are
issued. Nothing in the Plan or in this Award Agreement shall confer
upon the Participant any right to continue as a Service Provider,
alter the Participant’s at-wi