Attached files
Exhibit 99.17
INGRAM MICRO INC.
Amended and Restated 2003 Equity Incentive Plan
Restricted Stock Unit Award Agreement (Award Agreement)
For Employees in France
(Time Vested)
Restricted Stock Unit Award Agreement (Award Agreement)
For Employees in France
(Time Vested)
Section 1. Grant of Restricted Stock Unit Award. As of [INSERT DATE OF GRANT], Ingram
Micro Inc., a Delaware corporation (Micro) hereby grants [INSERT LEGAL NAME OF AWARDEE]
(Awardee) a Restricted Stock Unit Award (the Restricted Stock Unit Award). This Restricted
Stock Unit Award represents the right to receive a total of up to X,XXX shares of Class A Common
Stock, $.01 par value per share, of Micros common stock (the Common Stock), subject to the
fulfillment of the vesting conditions set forth below and pursuant to and subject to the terms and
conditions set forth in the Ingram Micro Inc. Amended and Restated 2003 Equity Incentive Plan (the
U.S. Plan), and the Rules of the Ingram Micro Inc. Amended and Restated 2003 Equity Incentive
Plan for RSU Awards Granted to Employees in France (the French Plan) (collectively, with the U.S.
Plan, the Plan) (a copy of which has been provided to you). Capitalized terms used and not
otherwise defined herein are used with the same meanings as in the Plan.
Section 2. Vesting. Subject to the provisions of this Award Agreement, this
Restricted Stock Unit Award shall become vested as set forth below, provided Awardee remains
employed with Micro or any of its Affiliates (collectively, the Employer) through the respective
Vesting Date:
Vesting Date | ||||
(Date that Restrictions | Vesting Period and/or | |||
Number Of Shares Awarded | Lapse) | Other Conditions | ||
2/3 of the Restricted Stock Units granted will vest 24 months from the Effective Grant Date | ||||
1/3 of the Restricted Stock Units granted will vest 36 months from the Effective Grant Date |
Section 3. Time and Form of Payment. Subject to satisfaction of any Tax-Related Items
as provided for in Section 7 of this Award Agreement, any vested Restricted Stock Unit Awards shall
be paid by Micro in Shares (on a one-to-one basis) within 30 days after the applicable Vesting Date
stated above (which for purposes of this Section 3 includes the date of any accelerated vesting
under Section 5 below).
Section 4. Nontransferability of Restricted Stock Unit Award. This Restricted Stock
Unit Award shall not be assigned, alienated, pledged, attached sold or otherwise transferred by
Awardee except by will or by the laws of descent and distribution. The terms of this Restricted
Stock Unit Award shall be binding on the executors, administrators, heirs and successors of
Awardee.
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Section 5. Termination or Suspension of Employment or Service. The following
provisions shall apply in the event of Awardees termination of employment, or with respect to a
member of the Board who is not an Employee, Awardees termination of service as a member of the
Board, as applicable (hereinafter referred to as a termination of employment or service,
respectively).
(a) Termination of Employment or Service for any reason other than death or
Disability. Except as the Committee may at any time otherwise provide or as required to comply
with applicable law, if Awardees employment with the Employer, or service with Micro, as
applicable, is terminated for any reason other than death or Disability, the unvested Restricted
Stock Unit Award shall be cancelled (forfeited) on the Termination Date (as defined in Section 5(d)
below) and Awardee shall not be entitled to receive any payment thereunder.
(b) Death. If Awardees employment with the Employer, or service with Micro, as
applicable, is terminated due to death, the unvested Restricted Stock Unit Award will immediately
vest and become transferable to Awardees heirs as of the effective date of Awardees death. The
Company shall issue the underlying Shares to the Awardees heirs, at their request, within six
months following the death. If Awardees heirs do not request the issuance of the underlying
Shares within six months of Awardees death, the Restricted Stock Unit Award will be forfeited.
(c) Disability. If Awardees employment with the Employer, or service with Micro, as
applicable, is terminated due to Disability (as defined in the French Plan), Awardees unvested
Restricted Stock Unit Award will immediately vest as of the effective date of such Awardees
Disability.
(d) Termination Date. Except as the Committee may otherwise determine, for purposes
hereof, (i) any termination of Awardees employment for any reason shall occur on the date such
Awardee ceases to be actively employed by the Employer without regard to whether such Awardee
continues thereafter to receive any compensatory payments therefrom or is paid salary thereby in
lieu of notice of termination, and (ii) with respect to a member of the Board who is not also an
Employee, any termination of Awardees service with Micro shall occur on the date such Awardee
ceases to be a member of the Board, in each case, such date shall be known as the Termination
Date. The Termination Date will not be extended by any notice period mandated under local law
(e.g., active employment would not include a period of garden leave or similar period pursuant to
local law); Micro shall have the exclusive discretion to determine the Termination Date for
purposes of the Restricted Stock Unit Award.
Section 6. Restrictions on Issuance and Sale of Shares of Common Stock.
(a) Micro shall not be obligated to issue any Shares prior to the fulfillment of all of the
following conditions:
(i) The admission of such Shares to listing on all stock exchanges on which the Common Stock
is then listed;
(ii) The completion of any registration or other qualification of such Shares under any state
or federal law or under rulings or regulations of the U.S. Securities and Exchange Commission or of
any other governmental regulatory body, which the Committee shall, in its absolute discretion, deem
necessary or advisable;
(iii) The obtaining of any approval or other clearance from any state or federal governmental
agency which the Committee shall, in its absolute discretion, determine to be necessary or
advisable;
(iv) The receipt by Micro of full payment for such Shares, including payment of any applicable
withholding tax; and
(v) The lapse of such reasonable period of time following the vesting of the Restricted Unit
Awards as the Committee may from time to time establish for reasons of administrative convenience.
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(b) The sale or transfer of the Shares issued pursuant to the Restricted Stock Unit Awards
held by the Awardee must not occur prior to the relevant anniversary of the Vesting Date specified
by the Committee and in no case prior to the second anniversary of each Vesting Date or such other
period as is required to comply with the minimum mandatory holding period applicable to shares
underlying French-qualified awards under Section L. 225-197-1 of the French Commercial Code, the
French Tax Code or the French Social Security Code, as amended. Notwithstanding the above, the
Awardees heirs, in case of the Awardees death, or the Awardee in case of the Awardees Disability
(as defined in the French Plan), are not subject to this restriction on the sale of Shares. In
addition, the underlying Shares cannot be sold during certain Closed Periods as provided for by
Section L. 225-197-1 of the French Commercial Code, as amended, so long as those Closed Periods are
applicable to shares underlying French-qualified awards, as interpreted by the French
administrative guideline, to the extent applicable. These restrictions apply even if the Awardee
is no longer an employee or a corporate officer of the French Entity.
(c) If the Awardee qualifies as a managing director under French law (mandataires sociaux,
(i.e., Président du Conseil dAdministration, Directeur Général, Directeur Général Délégué, Membre
du Directoire, Gérant de Sociétés par actions)), the Awardee is required to hold 20% of the Shares
issued upon the vesting of the Restricted Stock Unit Award in a nominative account under the
procedure implemented by Micro and not to sell or transfer the Shares until he or she ceases to
serve as a managing director, as long as this restriction is a requirement under French law and
unless law or regulations provide for a lower percentage (in which case these requirements apply to
the lower percentage of Shares held).
Section 7. Responsibility for Taxes. Regardless of any action Micro or Awardees
employer (the Employer) takes with respect to any or all income tax, social insurance, payroll
tax, payment on account or other tax-related items related to Awardees participation in the Plan
and legally applicable to Awardee or deemed by Micro or the Employer to be an appropriate charge to
Awardee even if technically due by Micro or the Employer (Tax-Related Items), Awardee
acknowledges that the ultimate liability for all Tax-Related Items is and remains Awardees
responsibility and may exceed the amount actually withheld by Micro or the Employer. Awardee
further acknowledges that Micro and/or the Employer (1) make no representations or undertakings
regarding the treatment of any Tax-Related Items in connection with any aspect of the Restricted
Stock Unit Award, including, but not limited to, the grant, vesting or settlement of the Restricted
Stock Unit Award, the issuance of Shares upon settlement of the Restricted Stock Unit Award, the
subsequent sale of Shares acquired pursuant to the Restricted Stock Unit Award and the receipt of
any dividends or other distributions, if any; and (2) do not commit to and are under no obligation
to structure the terms of the grant or any aspect of the Restricted Stock Unit Award to reduce or
eliminate Awardees liability for Tax-Related Items or achieve any particular tax result. Further,
if Awardee has become subject to tax in more than one jurisdiction between the date of grant and
the date of any relevant taxable or tax withholding event, as applicable, Awardee acknowledges that
Micro and/or the Employer (or former employer, as applicable) may be required to withhold or
account for Tax-Related Items in more than one jurisdiction.
Prior to any relevant taxable or tax withholding event, as applicable, Awardee will pay or
make adequate arrangements satisfactory to Micro and/or the Employer to satisfy all Tax-Related
Items. In this regard, Awardee authorizes Micro and/or the Employer, or their respective agents,
at their sole discretion and pursuant to such procedures as they may specify from time to time, to
satisfy the obligations with regard to all applicable Tax-Related Items by one or a combination of
the following: (1) withholding from Awardees wages or other cash compensation paid to Awardee by
Micro and/or the Employer, within legal limits; (2) withholding from proceeds of the sale of Shares
acquired pursuant to the Restricted Stock Unit Award, either through a voluntary sale or mandatory
sale arranged by Micro (on Awardees behalf pursuant to this authorization); or (3) withholding in
Shares acquired pursuant to the Restricted Stock Unit Award. To avoid negative accounting
treatment, Micro may withhold or account for Tax-Related Items by considering applicable minimum
statutory withholding amounts or other applicable withholding rates. If the obligation for
Tax-Related Items is satisfied by withholding in Shares as described herein, for tax purposes,
Awardee is deemed to have been issued the full number of Shares subject to the vested Restricted
Stock Unit Award, notwithstanding that a number of the Shares are held back solely for the purpose
of paying the Tax-Related Items due as a result of any aspect of Awardees participation in the
Plan.
Finally, Awardee will pay to Micro or the Employer any amount of Tax-Related Items that Micro
or the Employer may be required to withhold or account for as a result of Awardees participation
in the Plan or
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Awardees
acquisition of Shares that cannot be satisfied by the means previously described. Awardee
acknowledges and agrees that should the amount of withholding for Tax-Related Items be in excess of
the actual tax due, Micro and/or the Employer will refund the excess amount to him or her as soon
as administratively practicable and without any interest. Micro may refuse to issue or deliver the
Shares or the proceeds of the sale of Shares if Awardee fails to comply with his or her obligations
in connection with the Tax-Related Items.
Section 8. Adjustment. The number of Shares subject to this Restricted Stock Unit
Award may be adjusted by Micro from time to time pursuant to the Plan.
Section 9. Nature of the Award. By accepting this Restricted Stock Unit Award,
Awardee acknowledges, understands and agrees that:
(1) | the Plan is established voluntarily by Micro, it is discretionary in nature and it may be modified, amended, suspended or terminated by Micro at any time; | ||
(2) | the grant of the Restricted Stock Unit Award is voluntary and occasional and does not create any contractual or other right to receive future grants of Restricted Stock Unit Award, or benefits in lieu of Restricted Stock Unit Awards, even if Restricted Stock Unit Awards have been granted repeatedly in the past; | ||
(3) | all decisions with respect to future Restricted Stock Unit Award grants, if any, will be at the sole discretion of Micro; | ||
(4) | participation in the Plan shall not create a right to further employment or service with Micro or the Employer and shall not interfere with the ability of Micro or the Employer to terminate Awardees employment or service relationship at any time; | ||
(5) | participating in the Plan is voluntary; | ||
(6) | the Restricted Stock Unit Award and the Shares subject to the Restricted Stock Unit Award are extraordinary items that do not constitute compensation of any kind for services of any kind rendered to Micro or the Employer, and which is outside the scope of Awardees employment contract, if any; | ||
(7) | the Restricted Stock Unit Award and the Shares subject to the Restricted Stock Unit Award are not intended to replace any pension rights or compensation; | ||
(8) | the Restricted Stock Unit Award and the Shares subject to the Restricted Stock Unit Award are not part of normal or expected compensation or salary for any purpose, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal, end of service payments, bonuses, long-service awards, pension, welfare or retirement benefits or similar payments, and in no event should be considered as compensation for, or relating in any way to, past services to Micro, the Employer or any subsidiary or Affiliate of Micro; | ||
(9) | the Restricted Stock Unit Award and Awardees participation in the Plan will not be interpreted to form an employment or service contract or relationship with Micro, the Employer or any subsidiary or Affiliate of Micro; | ||
(10) | the future value of the underlying Shares is unknown and cannot be predicted with certainty; | ||
(11) | no claim or entitlement to compensation or damages shall arise from forfeiture of the Restricted Stock Unit Award resulting from the termination of Awardees employment with the Employer or |
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the termination of Awardees service with Micro, as applicable, and in consideration of the grant of the Restricted Stock Unit Award to which Awardee is otherwise not entitled, Awardee irrevocably agrees never to institute any claim against Micro or the Employer, and agrees to waive his or her ability, if any, to bring any such claim, and agrees to release Micro and the Employer from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then by participating in the Plan, Awardee shall be deemed irrevocably to have agreed not to pursue such claim and agree to execute any and all documents necessary to request dismissal or withdrawal of such claims; |
(12) | the vesting of any Restricted Stock Unit Award ceases upon the Termination Date, or other cessation of eligibility to vest for any reason, except as may otherwise be explicitly provided in the Plan or this Award Agreement; | ||
(13) | Awardee acknowledges that this Award Agreement is between Awardee and Micro, and that the Employer is not a party to this Award Agreement; | ||
(14) | Awardee agrees to provide Micro with any data requested if Awardee is a mobile employee to facilitate the proper withholding and reporting by Micro and/or the Employer, as applicable; and | ||
(15) | Awardee acknowledges that the Plan and this Award Agreement are intended to conform to the extent necessary with all provisions of the U.S. Securities Act of 1933, a amended, and the U.S. Securities Exchange Act of 1934, as amended (the Exchange Act), and any and all regulations and rules promulgated by the Securities and Exchange Commission thereunder, and state securities laws and regulations. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the Restricted Stock Unit Award is granted, only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by applicable law, the Plan and this Award Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and regulations. |
Section 10. No Advice Regarding Grant. Micro is not providing any tax, legal or
financial advice, nor is Micro making any recommendations regarding Awardees participation in the
Plan or the acquisition or the sale of the underlying Shares. Awardee is hereby advised to consult
with personal tax, legal and financial advisors regarding participation in the Plan before taking
any action related to the Plan.
Section 11. Data Privacy. Awardee explicitly and unambiguously consents to the
collection, use and transfer, in electronic or other form, of Awardees personal data as described
in this Award Agreement and any other Restricted Stock Unit Award grant materials by and among, as
applicable, the Employer, Micro and its subsidiaries and Affiliates for the exclusive purpose of
implementing, administering and managing Awardees participation in the Plan.
Awardee hereby understands that Micro and the Employer may hold certain personal information
about the Awardee, including, but not limited to, Awardees name, home address and telephone
number, date of birth, employee identification number or other identification number, salary,
nationality, job title, any shares of stock or directorships held in Micro, details of all
restricted stock units or any other entitlement to shares of stock awarded, canceled, exercised,
vested, unvested or outstanding in Awardees favor, for the exclusive purpose of implementing,
administering and managing the Plan (Data). Awardee hereby understands that Data may be
transferred to any third parties assisting Micro with the implementation, administration and
management of the Plan, that these recipients may be located in Awardees country or elsewhere, and
that the recipients country may have different data privacy laws and protections than Awardees
country. Awardee hereby understands that Awardee may request a list with the names and addresses
of any potential recipients of the Data by contacting Awardees local human resources
representative. Awardee authorizes the recipients to receive, possess, use, retain and transfer
the Data, in electronic or other form, for the sole purpose of implementing, administering and
managing the Awardees participation in the Plan, including any requisite transfer of such Data as
may be required to a broker or other third party with whom Awardee may elect to deposit any Shares
acquired upon
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vesting of the Restricted Stock Unit Award. Awardee hereby understands that Data will be held
only as long as is necessary to implement, administer and manage the Awardees participation in the
Plan as determined by Micro. Awardee hereby understands that Awardee may, at any time, view Data,
request additional information about the storage and processing of Data, require any necessary
amendments to Data or refuse or withdraw the consents herein, in any case without cost, by
contacting in writing Awardees local human resources representative. Awardee hereby understands,
however, that refusing or withdrawing the Awardees consent may affect the Awardees ability to
participate in the Plan. For more information on the consequences of Awardees refusal to consent
or withdrawal of consent, Awardee understands that he or she may contact his or her human resources
representative responsible for Awardees country at the local or regional level.
Section 12. No Rights Until Issuance. Awardee shall have no rights hereunder as a
shareholder with respect to any Shares subject to this Restricted Stock Unit Award until the date
of the issuance of the stock certificate for such Shares.
Section 13. Entire Agreement. The Plan is incorporated herein by reference. The Plan
and this Award Agreement constitute the entire agreement of the parties with respect to the subject
matter hereof and supersede in their entirety all prior undertakings and agreements between the
Awardee and Micro with respect to the subject matter hereof, and may not be modified adversely to
the Awardees interest except by means of a writing signed by the Awardee and Micro.
Section 14. Governing Law and Venue. The grant of this Restricted Stock Unit Award
and this Award Agreement shall be governed by and construed according to the laws of the State of
Delaware, U.S.A., without regard to its principles of conflicts of laws as provided in the Plan.
Any proceeding arising out of or relating to this Restricted Stock Unit Award, this Award Agreement
or the Plan may be brought only in the state or federal courts located in Orange County,
California, U.S.A., where this grant is made and/or to be performed, and the parties to this Award
Agreement hereby submit to and consent to the exclusive jurisdiction of such courts.
Section 15. Amendment. This Restricted Stock Unit Award may be amended as provided in
the Plan.
Section 16. Plan and Prospectus. This Restricted Stock Unit Award is subject to all
the terms of the Plan and the related prospectus, a copy of which has been received by the Awardee.
Section 17. Binding Agreement; Interpretation. By accepting the grant of this
Restricted Stock Unit Award evidenced hereby, the Awardee and Micro agree that this Restricted
Stock Unit Award is granted under and governed by the terms and conditions of the Plan and this
Award Agreement. The Awardee has reviewed the related prospectus and this Award Agreement in their
entirety, has had an opportunity to obtain the advice of counsel prior to accepting the Restricted
Stock Unit Award and fully understands all provisions of the related prospectus and Award
Agreement. The Awardee agrees to accept as binding, conclusive and final all decisions or
interpretations of the Committee upon any questions relating to the Plan and Award Agreement.
Section 18. Language. Awardee acknowledges that Awardee may be executing part or all
of the Award Agreement in English and agrees to be bound accordingly. If the Awardee has received
this or any other document related to the Plan translated into a language other than English and if
the meaning of the translated version is different than the English version, the English version
will control.
Section 19. Electronic Delivery. Micro may, in its sole discretion, decide to deliver
any documents related to current or future participation in the Plan by electronic means. The
Awardee hereby consents to receive such documents by electronic delivery and agree to participate
in the Plan through an on-line or electronic system established and maintained by Micro or another
third party designated by Micro.
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Section 20. Severability. The provisions of this Award Agreement are severable and if
any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in
part, the remaining provisions shall nevertheless be binding and enforceable.
Section 21. Code Section 409A. To the extent applicable, this Award Agreement shall
incorporate the terms and conditions required by Section 409A of the Code and be interpreted in
accordance with Section 409A of the Code and Department of Treasury regulations and other
interpretive guidance issued thereunder. Notwithstanding any provision of this Award Agreement or
the Plan to the contrary, in the event that following the date of grant, the Committee determines
that it may be necessary or appropriate to do so, the Committee may adopt such amendments to this
Award Agreement or the Plan or adopt other policies and procedures (including amendments, policies
and procedures with retroactive effect), or take any other actions, that the Committee determines
are necessary or appropriate to (a) exempt the Restricted Stock Unit Award from Section 409A of the
Code and/or preserve the intended tax treatment of the benefits provided with respect to the
Restricted Stock Unit Award, or (b) comply with the requirements of Section 409A of the Code and
related Department of Treasury guidance and thereby avoid the application of penalty taxes under
Section 409A of the Code.
Section 22. Acknowledgment. En acceptant le présent document décrivant les termes et
conditions mon attribution des Actions de Récompense Gratuites, je confirme ainsi avoir lu et
compris les documents relatifs à cette attribution (le Plan U.S. tel quamendé par le Plan pour la
France et ce Contrat de Récompense) qui mont été communiqués en langue anglaise. Jen accepte les
termes en connaissance de cause.
By accepting this document providing for the terms and conditions of the Restricted Stock
Unit Award grant, I confirm having read and understood the documents relating to this grant (the
U.S. Plan, as amended, the French Plan and this Award Agreement) which were provided to me in
English. I accept the terms of those documents accordingly.
Section 23. Exchange Control Information. Awardee must comply with the exchange
control regulations in France. Currently, Awardee may hold stock outside France, provided Awardee
declares any bank or stock account opened, held or closed abroad to the French tax authorities on
an annual basis.
Section 24. Addendum A. Notwithstanding any provisions in this Award Agreement, the
grant of the Restricted Stock Unit Award shall be subject to any special terms and conditions set
forth in the Addendum A to this Award Agreement for Awardees country. Moreover, if Awardee
relocates to another country for which there is an Addendum A, the special terms and conditions of
the Addendum A for such country will apply to Awardee, to the extent Micro determines that the
application of such terms and conditions is necessary or advisable in order to comply with local
law or facilitate the administration of the Plan. The Addendum A constitutes part of this Award
Agreement.
Section 25. Imposition of Other Requirements. Micro reserves the right to impose
other requirements on Awardees participation in the Plan, on the Restricted Stock Unit Award and
on any Shares acquired under the Plan, to the extent Micro determines it is necessary or advisable
in order to comply with local law or facilitate the administration of the Plan, and to require
Awardee to sign any additional agreements or undertakings that may be necessary to accomplish the
foregoing.
Section 26. Limitations Applicable to Section 16 Persons. Notwithstanding any other
provision of the Plan or this Award Agreement, if Awardee is subject to Section 16 of the Exchange
Act, the Plan, the Restricted Stock Unit Award and this Award Agreement shall be subject to any
additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange
Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the
application of such exemptive rule. To the extent permitted by applicable law, this Award
Agreement shall be deemed amended to the extent necessary to conform to such applicable exemptive
rule.
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INGRAM MICRO INC. |
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Lynn Jolliffe Executive Vice President, Human Resources |
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Accepted and agreed as to the foregoing:
AWARDEE
AWARDEE
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