Exhibit 10.43
PROVIDE COMMERCE,
INC.
AMENDED AND RESTATED 2003 STOCK
INCENTIVE PLAN
RESTRICTED STOCK AWARD GRANT
NOTICE AND
RESTRICTED STOCK AWARD
AGREEMENT
Provide Commerce, Inc., a Delaware
corporation (the “ Company ”), pursuant
to its Amended and Restated 2003 Stock Incentive Plan (the “
Plan ”), hereby grants to the individual listed
below (“ Participant ”), the right to
purchase the number of shares of the Company’s Stock set
forth below (the “ Shares ”) at the
purchase price set forth below. This Restricted Stock award is
subject to all of the terms and conditions as set forth herein and
in the Restricted Stock Award Agreement attached hereto as
Exhibit A (the “ Restricted Stock
Agreement ”) and the Plan, which are incorporated
herein by reference. Unless otherwise defined herein, the terms
defined in the Plan shall have the same defined meanings in this
Grant Notice and the Restricted Stock Agreement.
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Participant:
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___________________________________________________
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Grant Date:
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___________________________________________________
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Purchase Price per Share:
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$
per share
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Total Number
of Shares of Restricted Stock:
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___________________________________________________
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Vesting Schedule:
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[Vesting to be
specified in individual agreements].
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[The Shares
shall also be subject to accelerated vesting in accordance with
Section 3.2(b) of the Restricted Stock Agreement.]
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By his or her signature, Participant
agrees to be bound by the terms and conditions of the Plan, the
Restricted Stock Agreement and this Grant Notice. Participant has
reviewed the Restricted Stock Agreement, the Plan and this Grant
Notice in their entirety, has had an opportunity to obtain the
advice of counsel prior to executing this Grant Notice and fully
understands all provisions of this Grant Notice, the Restricted
Stock Agreement and the Plan. Participant hereby agrees to accept
as binding, conclusive and final all decisions or interpretations
of the Administrator of the Plan upon any questions arising under
the Plan, this Grant Notice or the Restricted Stock Agreement. If
Participant is married, his or her spouse has signed the Consent of
Spouse attached to this Grant Notice as Exhibit B
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PROVIDE
COMMERCE, INC.
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PARTICIPANT
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By:
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By:
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Print Name:
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Print Name:
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Title:
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Address:
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5005 Wateridge
Vista Drive
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Address:
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San Diego, CA
92121
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EXHIBIT A
TO RESTRICTED STOCK AWARD GRANT
NOTICE
RESTRICTED STOCK AWARD
AGREEMENT
Pursuant to the Restricted Stock
Award Grant Notice (“ Grant Notice ”) to
which this Restricted Stock Award Agreement (this “
Agreement ”) is attached, Provide Commerce,
Inc., a Delaware corporation (the “ Company
”), has granted to Participant the right to purchase the
number of shares of Restricted Stock under the Company’s
Amended and Restated 2003 Stock Incentive Plan (the “
Plan ”) indicated in the Grant
Notice.
ARTICLE I
GENERAL
1.1 Defined Terms .
Capitalized terms not specifically defined herein shall have the
meanings specified in the Plan and the Grant Notice.
1.2 Incorporation of Terms of
Plan . The Shares are subject to the terms and conditions of
the Plan which are incorporated herein by reference.
ARTICLE II
GRANT OF RESTRICTED
STOCK
2.1 Grant of Restricted Stock
. In consideration of Participant’s past and/or continued
employment with or service to the Company or a Parent or Subsidiary
and for other good and valuable consideration, effective as of the
Grant Date set forth in the Grant Notice (the “ Grant
Date ”), the Company irrevocably grants to
Participant the right to purchase the number of shares of Stock set
forth in the Grant Notice (the “ Shares
”), upon the terms and conditions set forth in the Plan and
this Agreement.
2.2 Purchase Price . The
purchase price per Share (the “ Purchase Price
”) shall be as set forth in the Grant Notice, without
commission or other charge. The payment of the Purchase Price shall
be paid by cash or check.
2.3 Issuance of Shares . The
issuance of the Shares under this Agreement shall occur at the
principal office of the Company, upon payment of the Purchase Price
by Participant, simultaneously with the execution of this Agreement
by the parties (the “ Issuance Date ”).
Subject to the provisions of Article IV below, on the Issuance
Date, the Company shall issue the Shares (which shall be issued in
Participant’s name).
2.4 Conditions to Issuance of
Stock Certificates . The Shares, or any portion thereof, may be
either previously authorized but unissued shares or issued shares
which have then been reacquired by the Company. Such Shares shall
be fully paid and nonassessable. The Company shall not be required
to issue or deliver any Shares prior to fulfillment of all of the
following conditions:
(a) The admission of such Shares to
listing on all stock exchanges on which such Stock is then listed;
and
A-1
(b) The completion of any
registration or other qualification of such shares under any state
or federal law or under rulings or regulations of the Securities
and Exchange Commission or of any other governmental regulatory
body, which the Administrator shall, in its absolute discretion,
deem necessary or advisable; and
(c) The obtaining of any approval or
other clearance from any state or federal governmental agency which
the Administrator shall, in its absolute discretion, determine to
be necessary or advisable; and
(d) The receipt by the Company of
full payment for such shares, including payment of all amounts
which, under federal, state, local or foreign tax law, the Company
(or other employer corporation) is required to withhold upon
issuance of such Shares; and
(e) The lapse of such reasonable
period of time following the Issuance Date as the Administrator may
from time to time establish for reasons of administrative
convenience.
2.5 Rights as Stockholder .
Except as otherwise provided herein, upon delivery of the Shares to
the escrow holder pursuant to Article IV, Participant shall have
all the rights of a stockholder with respect to said Shares,
subject to the restrictions herein, including the right to vote the
Shares and to receive all dividends or other distributions paid or
made with respect to the Shares; provided, however, that any
and all cash dividends paid on such Shares and any and all shares
of Stock, capital stock or other securities received by or
distributed to Participant with respect to the Shares as a result
of any stock dividend, stock split, reverse stock split,
recapitalization, combination, reclassification, or similar change
in the capital structure of the Company shall also be subject to
the Repurchase Option (as defined in Section 3.1 below) and
the restrictions on transfer in Section 3.4 below until such
restrictions on the underlying Shares lapse or are removed pursuant
to this Agreement.
2.6 Consideration to the
Company . In consideration of the issuance of the Shares by the
Company, Participant agrees to render faithful and efficient
services to the Company or any Parent or Subsidiary. Nothing in the
Plan or this Agreement shall confer upon Participant any right to
(a) continue in the employ of the Company or any Parent or
Subsidiary or shall interfere with or restrict in any way the
rights of the Company and its Parents and Subsidiaries, which are
hereby expressly reserved, to discharge Participant, if Participant
is an Employee, or (b) continue to provide services to the
Company or any Parent or Subsidiary or shall interfere with or
restrict in any way the rights of the Company or its Parents and
Subsidiaries, which are hereby expressly reserved, to terminate the
services of Participant, if Participant is a consultant, at any
time for any reason whatsoever, with or without Cause, except to
the extent expressly provided otherwise in a written agreement
between the Company, a Parent or a Subsidiary and Participant, or
(c) continue to serve as a member of the Board or shall
interfere with or restrict in any way the rights of the Company,
which are hereby expressly reserved, to discharge Participant in
accordance with the Company’s Bylaws.
ARTICLE III
RESTRICTIONS ON
SHARES
3.1 Repurchase Option .
Subject to the provisions of Section 3.2 below, if Participant
has a Termination of Employment, Termination of Directorship or
Termination of Consultancy before all of the Shares are released
from the Company’s Repurchase Option (as defined below), the
Company shall, upon the date of such Termination of Employment,
Termination of Directorship or Termination of Consultancy (as
reasonably fixed and determined by the Company), have an
irrevocable, exclusive option, but not the obligation, for a period
of ninety days after the date Participant has a Termination of
Employment,
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Termination of Directorship or Termination of
Consultancy, to repurchase all or any portion of the Unreleased
Shares (as defined below in Section 3.3) at such time (the
“ Repurchase Option ”) at the lesser of
(a) the Purchase Price per Share or (b) the Fair Market
Value per Share on the date of termination (the “
Repurchase Price ”). The Repurchase Option
shall lapse and terminate ninety days after the Participant’s
Termination of Employment, Termination of Directorship or
Termination of Consultancy. The Repurchase Option shall be
exercisable by the Company by written notice to Participant or
Participant’s executor (with a copy to the escrow agent
appointed pursuant to Section 4.1 below) and, at the
Company’s option, by delivery to Participant or
Participant’s executor with such notice of payment in cash or
a check in the amount of the Repurchase Price times the number of
Shares to be repurchased (the “ Aggregate Repurchase
Price ”). Upon delivery of such notice and the
payment of the Aggregate Repurchase Price, the Company shall become
the legal and beneficial owner of the Shares being repurchased and
all rights and interests therein or relating thereto, and the
Company shall have the right to retain and transfer to its own name
the number of Shares being repurchased by the Company. In the event
the Company repurchases any Shares under this Section 3.1, any
dividends or other distributions paid on such Shares and held by
the escrow agent pursuant to Section 4.1 and the Joint Escrow
Instructions shall be promptly paid by the escrow agent to the
Company.
3.2 Release of Shares from
Repurchase Restriction .
(a) Subject to Section 3.2(b),
the Shares shall be released from the Company’s Repurchase
Option on such dates and in such amounts as the Shares become
vested in accordance with the vesting schedule set forth in the
Grant Notice. Any of the Shares released from the Company’s
Repurchase Option shall thereupon be released from the restrictions
on transfer under Section 3.4. In the event any of the Shares
are released from the Company’s Repurchase Option, any
dividends or other distributions paid on such Shares and held by
the escrow agent pursuant to Section 4.1 and the Joint Escrow
Instructions shall be promptly paid by the escrow agent to
Participant.
[(b) To the extent the
Company’s Repurchase Option does not lapse in its entirety in
connection with a Change in Control, immediately upon an
Involuntary Termination of Participant’s employment or
service with the Company or any Parent or Subsidiary or successor
within 18 months following such Change in Control, the Shares (or
any cash dividends paid on such Shares and any and all shares of
Stock, capital stock or other securities received by or distributed
to Participant with respect to the Shares as a result of any stock
dividend, stock split, reverse stock split, recapitalization,
combination, reclassification, or similar change in the capital
structure of the Company) shall be released from the
Company’s Repurchase Option.]
3.3 Unreleased Shares . Any
of the Shares which, from time to time, have not yet been released
from the Company’s Repurchase Option are referred to herein
as “ Unreleased Shares .”
3.4 Restrictions on Transfer
.
(a) Subject to repurchase by the
Company pursuant to Section 3.1 and Section 3.4(b), no
Unreleased Shares or any dividends or other distributions thereon
or any interest or right therein or part thereof, shall be liable
for the debts, contracts or engagements of Participant or his or
her successors in interest or shall be subject to sale or other
disposition by Participant or his or her successors in interest by
transfer, alienation, anticipation, pledge, encumbrance, assignment
or any other means whether such sale or other disposition be
voluntary or involuntary or by operation of law by judgment, levy,
attachment, garnishment or any other legal or equitable proceedings
(including bankruptcy), and any attempted sale or other disposition
thereof shall be null and void and of no effect.
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(b) Notwithstanding any other
provision in this Agreement, with the consent of the Administrator,
the Unreleased Shares may be transferred to certain Permitted
Transferees, subject to the terms and conditions set forth in
Section 11.3(b) of the Plan.
ARTICLE IV
ESCROW OF SHARES
4.1 Escrow of Shares . To
ensure the availability for delivery of Participant’s
Unreleased Shares upon repurchase by the Company pursuant to the
Repurchase Option under Section 3.1, Participant hereby
appoints the Secretary of the Company, or any other person
designated by the Administrator as escrow agent, as his or her
attorney-in-fact to assign and transfer unto the Company, such
Unreleased Shares, if any, repurchased by the Company pursuant to
the Repurchase Option pursuant to Section 3.1 and any
dividends or other distributions thereon, and shall, upon execution
of this Agreement, deliver and deposit with the Secretary of the
Company, or such other person designated by the Administrator, any
share certificates representing the Unreleased Shares, together
with the stock assignment duly endorsed in blank, attached to the
Grant Notice as Exhibit C to the Grant Notice. The
Unreleased Shares and stock assignment shall be held by the
Secretary of the Company, or such other person designated by the
Administrator, in escrow, pursuant to the Joint Escrow Instructions
of the Company and Participant attached as Exhibit D to the
Grant Notice, until the Company exercises its Repurchase Option as
provided in Section 3.1, until such Unreleased Shares are
released from the Company’s Repurchase Option, or until such
time as this Agreement no longer is in effect. Upon release of the
Unreleased Shares from the Company’s Repurchase Option, the
escrow agent shall deliver to Participant the certificate or
certificates representing such Shares in the escrow agent’s
possession belonging to Participant in accordance with the terms of
the Joint Escrow Instructions attached as Exhibit D to the
Grant Notice, and the escrow agent shall be discharged of all
further obligations hereunder. If the Shares are held in book entry
form, then such entry will reflect that the Shares are subject to
the restrictions of this Agreement. If any dividends or other
distributions are paid on the Unreleased Shares held by the escrow
agent pursuant to this Section 4.1 and the Joint Escrow
Instructions, such dividends or other distributions shall also be
subject to the restrictions set forth in this Agreement and held in
escrow pending release of the Unreleased Shares with respect to
which such dividends or other distributions were paid from the
Company’s Repurchase Option.
4.2 Transfer of Repurchased
Shares . Participant hereby authorizes and directs the
Secretary of the Company, or such other person
designated