Restricted Share Agreement
Exhibit 10.9
On this, the
_____
day of
_____, 20_____, ICG Group, Inc, a Delaware corporation (the “Company”),
hereby grants to
_____
a Restricted Share Award (the “Award”), of
_____
shares (the
“Shares”) of the common stock in the Company subject to the restrictions below and pursuant to and
subject to the terms and conditions of the ICG 2005 Omnibus Equity Compensation Plan, as amended
(the “Plan”). Capitalized terms used but not otherwise defined herein shall have the respective
meanings ascribed to such terms in the Plan.
General Provisions
1. Vesting and Term.
(a) Except as provided in Paragraph 1(b) below, you will vest in your right to the Shares
granted under this Award according to the following vesting schedule
| Vesting Date | Percentage of Shares Vesting | |||
| 100% |
(b) Vesting upon Termination. No Shares shall be vested on an accelerated basis if
you incur a Termination of Service on account of any reason.
Additional Provisions
2. Non-Transferability of Award. During the period before the Shares vest, you may
not assign, transfer, pledge or otherwise dispose of the Shares prior to vesting. Any attempt to
assign, transfer, pledge or otherwise dispose of the unvested Shares contrary to the provisions
hereof, and the levy of any execution, attachment or similar process upon the unvested Shares,
shall be null and void and without effect.
3. Right to Vote and to Receive Dividends. You will have the right to vote unvested
Shares and receive any dividends or other distributions paid on unvested Shares. In the event of a
dividend or distribution payable in stock or other property or a reclassification, split up or
similar event during the period in which the Shares are unvested, the shares or other property
issued or delivered with respect to the unvested Shares shall be subject to the same terms and
conditions relating to vesting as the Shares to which they relate.
4. Forfeiture of Shares. If you incur a Termination of Service for any reason before
the Shares are fully vested, the Shares that are not then vested shall be forfeited and must be
immediately returned to the Company. In addition, if the Committee determines, in good faith, that
you have breached any non-compete, non-solicitation or confidentiality agreement with the Company
at any time, you will immediately forfeit all unvested Shares and all vested Shares, and all Shares
must be immediately returned to the Company.
5. Change of Control. The provisions of the Plan applicable to a Change of Control
shall apply to the Shares, and, in the event of a Change of Control, the Committee may take such
actions as it deems appropriate pursuant to the Plan.
6. Incorporation by Reference; Definitions. This Award shall be subject to the terms,
conditions and limitations of the Plan, which are incorporated herein by reference. In the event
of any contradiction, distinction or difference between this Award Agreement and the terms of the
Plan, the terms of the Plan will control. Except as otherwise defined in this Award Agreement, the
terms used in this Award Agreement shall have the meanings set forth in the Plan. The Award is
subject to the interpretations, regulations and determinations concerning the Plan established from
time to time by the Committee in accordance with the provisions of the Plan, including, but not
limited to, provisions pertaining to (i) rights and obligations with respect to the withholding of
taxes, (ii) the registration, qualification or listing of the shares, (iii) changes in
capitalization of the Company, and (iv) other requirements of applicable law. The Committee shall
have the authority to interpret and construe the Award pursuant to the terms of the Plan, its
decisions shall be conclusive as to any questions arising hereunder, and your acceptance of this
Award is you agreement to be bound by the interpretations and decisions of the Committee with
respect to this Award and the Plan.
7. Issuance of Certificates.
(a) The Company will hold non-certificated shares until the Shares vest.
(b) When you obtain a vested right to the Shares, the vested Shares shall be issued to you in
electronic form, free of the restrictions under Paragraph 1 of this Award.
8. Withholding. You are required to pay to the Company, or make other arrangements
satisfactory to the Company to provide for the payment of, any federal, state, local or other taxes
that the Company is required to withhold with respect to the grant or vesting of this Award.
Subject to Committee approval, you may elect to satisfy any tax withholding obligation of the
Company with respect to this Award by having shares withheld up to an
amount that does not exceed the minimum applicable withholding tax rate for federal (including
FICA), state, local and other tax liabilities.
9. No Employment or Other Rights. This Award shall not confer upon you any right to
be retained by or in the employ or service of the Company or its parent or subsidiaries, and shall
not interfere in any way with the right of the Company or its parent or subsidiaries to terminate
your employment or service at any time. The right of the Company or its parent or subsidiaries to
terminate at will your employment or service at any time for any reason is specifically reserved.
10. Assignment by Company. The rights and protections of the Company hereunder shall
extend to any successors or assigns of the Company and to the Company’s parent or subsidiaries and
affiliates. This Award may be assigned by the Company without your consent.
11. Governing Law. This Agreement shall be deemed to be made under and shall be
construed in accordance with the laws of the State of Delaware.
12. Notice. All notices hereunder shall be in writing, and if to the Company or the
Committee, shall be delivered to the Board of Directors of the Company or mailed to its principal
office, addressed to the attention of the Board of Directors; and if to you, shall be delivered
personally sent by facsimile transmission or mailed to you at the address appearing in the records
of the Company. Such addresses may be changed at any time by written notice to the other party
given in accordance with this Paragraph 12.
| ICG Group, Inc. | ||||||
| By: | ||||||
| Chief Executive Officer | ||||||
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| Attest: | ||||
By: |
||||
| Vice President, Treasury and Tax | ||||
I hereby accept the Share Award described in this Restricted Share Agreement. I have read the
terms of the Plan and this Restricted Share Agreement, and agree to be bound by the terms of the
Plan and this Restricted Share Agreement and the interpretations of the Committee with respect
thereto.
| Accepted: | ||||||
| By: | ||||||
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