EX-10.5 6 grmn-ex10_5.htm EX-10.5 EX-10.5

 

第10.5展示

ガーミン
2005年の株式報酬プラン
2024年10月25日に修正および改訂されました
株式制限付ユニット配分契約書

(業績ベースと期間ベースのベスティング)

(重役向け)

 

 

宛先：_______________________ (“あなたにランブルGranteeは、本計画で表彰された従業員、取締役、またはコンサルタントを意味します。”)

授与日: _______________________

パフォーマンス年： _______________________

RSUの対象となる株式の合計： _______________________（「適格株”)
 

「通知書」とは、個別の受賞の条件を示す書面です。通知書は受賞契約の一部です。:

ガーミン社の株式、株式1株当たりのUSD $0.10に関連する制限付き株式ユニット（"RSU”）が付与されました。株式Garmin Ltd. 2005年に改訂し再編成された株式インセンティブ計画の条件に従い、承諾条件に従います（"プラン）およびガーミン社との賞与契約（"会社従って、この付録Aに添付された書類に基づき、本通知書、付録Aおよび付録bに規定された適用条件を満たした場合、会社は以下のように株を支払うことに同意します:

•
この契約の下で発行可能な株式数は、許容された株式の一定割合（0％から100％以上、またはExhibit Bに示されているように）です。発行可能な許容された株式の割合（あれば）は、1つ以上の事前に設定された業績目標（ “取得株式”）の達成に基づいています。会社の会計年度に関する業績目標と、各目標の適用割合が記載されています。業績目標と各目標の適用割合は、この契約のExhibit bに記載および説明されています。取得株式パフォーマンス目標
•
会社の報酬委員会の会議で、パフォーマンスイヤーの終了後（「認定日」と呼ばれる日）に、報酬委員会は達成されたパフォーマンスレベルを評価し、目標の達成を認定します。認証日会社の報酬委員会は、目標の達成を認定する際、達成レベルを評価します。
•
獲得した株式は、認定日から30日以内に開始する3回の均等割で発行され、それぞれの記念日に従います。ただし、それらの日に会社に雇用されている場合に限ります。

プラン（添付されているコピー）および賞与契約書（以下、「賞与契約書」といいます）の下でのあなたの権利を完全に理解するために、プランおよびこの文書を注意深くお読みいただくことをお勧めします。この契約で使用されている大文字で表記された用語の定義については、プラン文書を参照してください。授与契約書『別紙A』として添付されていますので、計画書とこの文書を注意深くお読みください。この契約で使用されている大文字で定義されていない用語の定義については、計画書を参照してください。

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これらのRSUを受け入れることで、Exhibits Aおよびbに拘束されることに同意することにも同意しています。 Exhibit Aのセクション7に規定された制限的契約も含まれます。.

ガーミン

 

署名:

名前：クリフトン・A・ペンブル

タイトル: 社長兼最高経営責任者

 

受取人:__________________________

 

日付：______________________

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EXHIBIT A

契約：

この契約書に含まれる相互の約束と契約、およびGranteeがCompanyに支払ったその他の良い価値ある対価を考慮して、GranteeとCompanyは以下の通り合意する。

セクション1。
プランの組込み

本協定の全セクター条項と当該被授与者の権利は、計画の条項および取締役会の権限の全セクターに準拠します。この協定で使用される大文字の用語は定義されていないものがある場合、計画に記載された意味を持ちます。

セクション2。
「RSUの付与」
(a)
獲得株式の計算上記の授与日付時点で、会社はここに規定された条件と計画に基づき、（i）対象株式および（ii）セクション3に基づいて算出された「累積ベスティング割合」の積である「獲得株式」を受け取る機会を提供します。このセクション2(a)の適用により、獲得株式が小数点となった場合、獲得株式の数は最寄りの整数の株式に切り上げられます。
(b)
取得した株式のベスティングおよび引き渡し会社またはその子会社に雇用されている（および授与日以来常に雇用されている）場合、かつ3または4節で没収された権利を受け取る権利がない場合、（13節に基づく）認定日（授与通知書の定義に従う）から30日以内に取得した株式の3分の1（1/3）が支払われ、認定日の最初の記念日に取得した株式の3分の1（1/3）が支払われ、認定日の2周年に取得した株式の3分の1が支払われます。 認定日の最初または2周年が土曜日または日曜日またはその他の非営業日の場合、その日に支払われる取得済み株式は次の営業日に支払われます。
第3条
割り当てられたベスティング割合の計算；未獲得株の没収

修正オファーの「全セクターの連動分割率”は、展示物bに示されているパフォーマンスイヤーの各達成目標の個々の分割率の合計です。連動分割率が100％未満であるため、全株主申込み株が獲得株にならない場合、認証日をもって即座に喪失されます。

第4条
所属終了の影響

契約の終了が起こった場合、会社による理由の有無にかかわらずの終了、自発的な辞職、死亡、または障害を含む全セクターへの契約終了の影響は以下の通りです。

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(a)
認証日の後に死亡または障害による所属の解除がある場合、その所属の解除直前に受け取れる株式は非受取不可となり、すぐに全ての受け取れる株式を、残り株式の総数と等しい無制限の株式をあなた（または死後はあなたの遺族または指定された受益者）に納付することになります。
(b)
もしあなたが認定日前に死亡または障害による所属の終了がある場合、認定日の翌30日以内に、会社はあなたの口座に入る予定だった、しかし死亡または障害がなかった場合に獲得シェアとなるはずだった有資格株式数を決済します。
(c)
認定日以降、その期間中に提携が解除された場合（」管理期間の変更」）支配権の変更から始まり、支配権変更の1周年に終了する（提携の終了が当社または子会社が正当な理由によらず行うか、譲受人が正当な理由で開始する）場合、そのような提携の終了時に没収可能だった獲得株式は、その後没収できなくなり、当社はお客様に引き渡すことですべての獲得株式を直ちに決済するものとします。制限なし株式の数は、残りの獲得株式の総数と同じです。
(d)
認定日前に所属が終了し、かつ変更管理期間中に、会社または子会社が原因以外で開始する所属終了、またはGranteeが正当な理由により開始した場合、認定日の時点で獲得株となるはずだったすべての対象株は、そのような所属終了によって報酬株となり無放棄の状態となり、会社は認定日から30日以内に、あなたにすべての報酬株を提供することで解決しなければなりません。この時、あなたに提供する無制限株数は、あなたの報酬株の総数に等しいものとします。
(e)
If you have a Termination of Affiliation for Cause or for any reason other than for (i) death or Disability or (ii) under the circumstances described above in Section 4(c) or (d), then your Eligible Shares (to the extent such Termination of Affiliation occurs before the Certification Date) or your Earned Shares (to the extent such Termination of Affiliation occurs after the Certification Date), to the extent forfeitable immediately before such Termination of Affiliation, shall thereupon automatically be forfeited and you shall have no further rights under this Award Agreement.
Section 5.
Investment Intent

The Grantee agrees that the Shares acquired pursuant to the vesting of one or more tranches of Earned Shares shall be acquired for his/her own account for investment only and not with a view to, or for resale in connection with, any distribution or public offering thereof within the meaning of the Securities Act of 1933 (the “1933 Act”) or other applicable securities laws. The Company may, but in no event shall be required to, bear any expenses of complying with the 1933 Act, other applicable securities laws or the rules and regulations of any national securities exchange or other regulatory authority in connection with the registration, qualification, or transfer, as the case may be, of this Award Agreement or any Shares acquired hereunder. The

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foregoing restrictions on the transfer of the Shares shall be inoperative if (a) the Company previously shall have been furnished with an opinion of counsel, satisfactory to it, to the effect that such transfer will not involve any violation of the 1933 Act and other applicable securities laws or (b) the Shares shall have been duly registered in compliance with the 1933 Act and other applicable state or federal securities laws. If this Award Agreement, or the Shares subject to this Award Agreement, are so registered under the 1933 Act, the Grantee agrees that he will not make a public offering of the said Shares except on a national securities exchange on which the shares of the Company are then listed.

Section 6.
Nontransferability of RSUs, Eligible Shares and Earned Shares

No rights under this Award Agreement relating to the RSUs or any undelivered Eligible Shares or Earned Shares may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, including, unless specifically approved by the Company, any purported transfer to a current spouse or former spouse in connection with a legal separation or divorce proceeding. All rights with respect to the RSUs or any undelivered Eligible Shares or Earned Shares granted to the Grantee shall be available during his or her lifetime only to the Grantee.

Section 7.
Restrictive Covenants

In consideration of the RSUs granted to the Grantee under this Award Agreement and in and in addition to any restrictive agreements the Grantee may have entered into with the Company, the Grantee accepts and agrees to be bound by the restrictive covenants set forth below in this Section 7, and acknowledges that these restrictive covenants are fair and reasonable in light of the Company’s legitimate business interest in protecting the Company’s and its Subsidiaries’ trade secrets, other commercially sensitive business information, and their customer, employee, and other business relationships. The Grantee hereby agrees to the following restrictive covenants:

(a)
Noncompetition. During the Grantee's employment and until one year after the Grantee ceases being employed by or acting as a consultant or independent contractor to the Company or any Subsidiary, the Grantee will not perform executive, managerial, professional, engineering, technical, business development, supply chain or sales services worldwide as an employee, director, officer, consultant, independent contractor or advisor, or invest in, whether in the form of equity or debt, or otherwise have an ownership interest in any company, entity or person that directly competes with the Company in any of its operating segments. The Grantee expressly acknowledges that the Company and its Subsidiaries have a worldwide business and customer base in each of its operating segments. The Grantee expressly acknowledges and agrees that a worldwide restriction is reasonable under the circumstances and necessary in order to protect the legitimate business interests of the Company and its Subsidiaries. Nothing in this Section 7(a) shall, however, restrict the Grantee from making an investment in and owning up to one-percent (1%) of the common stock of any company whose stock is listed on a national securities exchange or actively traded in an over-the-counter market; provided that such investment does not give the Grantee the right or ability to control or influence the policy decisions of any direct competitor of the Company or a Subsidiary.

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(b)
Nonsolicitation of Customers, Suppliers, Business Partners and Vendors. During the Grantee's employment and until one year after the Grantee ceases being employed by or acting as a consultant or independent contractor to the Company or any Subsidiary, the Grantee will not, either directly or indirectly through another business or person, solicit or assist others in soliciting or attempt to solicit any customer, prospective customer, vendor, prospective vendor, supplier or other similar business relation or (to the Grantee's knowledge) prospective business relation of the Company or any Subsidiary with whom the Grantee had contact with during the last two years of the Grantee’s employment.
(c)
Nonsolicitation of Employees. During the Grantee's employment and until one year after the Grantee ceases being employed by or acting as a consultant or independent contractor to the Company or any Subsidiary, the Grantee will not, either directly or indirectly through another business or person, solicit, hire, recruit, employ, or attempt to solicit, hire, recruit or employ, or facilitate any such acts by others, any person then currently employed by the Company or any Subsidiary.
(d)
No Application in Certain States or Jurisdictions. Sections 7(a), 7(b) and 7(c) do not apply to employment in California, Oklahoma or Minnesota or in any other state or jurisdiction where such provisions are prohibited by law.
(e)
Confidentiality. The Grantee acknowledges that it is the policy of the Company and its Subsidiaries to maintain as secret and confidential all valuable and unique information and techniques acquired, developed or used by the Company and its Subsidiaries relating to their businesses, operations, employees and customers (“Confidential Information”). The Grantee recognizes that the Confidential Information is the sole and exclusive property of the Company and its subsidiaries, and that disclosure of Confidential Information would cause damage to the Company and its Subsidiaries. The Grantee shall not at any time disclose or authorize anyone else to disclose any Confidential Information or proprietary information that (A) is disclosed to or known by the Grantee as a result or as a consequence of or through the Grantee's performance of services for the Company or any Subsidiary, (B) is not publicly or generally known outside the Company and (C) relates in any manner to the Company's business. This obligation will continue even though the Grantee's employment with the Company or a Subsidiary may have terminated. This paragraph 7(e) shall apply in addition to, and not in derogation of any other confidentiality agreements that may exist, now or in the future, between the Grantee and the Company or any Subsidiary.
(f)
Remedy. The Grantee acknowledges that irreparable harm would result from any breach of this Section and that monetary damages alone would not provide adequate relief or remedy. Accordingly, the Grantee specifically agrees that, if the Grantee breaches any of the Grantee's obligations under this Section 7, the Company and any Subsidiary shall be entitled to injunctive relief. Without limiting the generality of the foregoing, neither the Company nor any Subsidiary shall be precluded from pursuing any remedies they may have at law or in equity for any breach of Grantee’s restrictive covenants in this Section 7.

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Section 8.
Status of the Grantee

The Grantee shall not be deemed a shareholder of the Company with respect to any of the Shares subject to this Award Agreement until such time as the underlying Shares shall have been issued to him or her. The Company shall not be required to issue or transfer any Shares pursuant to this Award Agreement until all applicable requirements of law have been complied with and such Shares shall have been duly listed on any securities exchange on which the Shares may then be listed. Grantee (i) is not entitled to receive any dividends or dividend equivalents, whether such dividends would be paid in cash or in kind, or receive any other distributions made with respect to the RSUs or any undelivered Eligible Shares or Earned Shares, and (ii) does not have nor may he or she exercise any voting rights with respect to any of the RSUs or any undelivered Eligible Shares or Earned Shares, in both cases (i) and (ii) above, unless and until the actual Shares underlying any Earned Shares have been delivered pursuant to this Award Agreement.

Section 9.
No Effect on Capital Structure

This Award Agreement shall not affect the right of the Company to reclassify, recapitalize or otherwise change its capital or debt structure or to merge, consolidate, convey any or all of its assets, dissolve, liquidate, windup, or otherwise reorganize.

Section 10.
Adjustments

Notwithstanding any provision herein to the contrary, in the event of any change in the number of outstanding Shares effected without receipt of consideration therefor by the Company, by reason of a merger, reorganization, consolidation, recapitalization, separation, liquidation, stock dividend, stock split, share combination or other change in the corporate structure of the Company affecting the Shares, the aggregate number and class of Shares subject to this Award Agreement shall be automatically adjusted to accurately and equitably reflect the effect thereon of such change; provided, however, that any fractional share resulting from such adjustment shall be eliminated. In the event of a dispute concerning such adjustment, the decision of the Board shall be conclusive.

Section 11.
Amendments

This Award Agreement may be amended only by a writing executed by the Company and the Grantee which specifically states that it is amending this Award Agreement; provided that this Award Agreement is subject to the power of the Board to amend the Plan as provided therein. Except as otherwise provided in the Plan, no such amendment shall materially adversely affect the Grantee's rights under this Award Agreement without the Grantee's consent.

Section 12.
Board Authority

Any questions concerning the interpretation of this Award Agreement, any adjustments required to be made under Sections 10 or 11 of this Award Agreement, and any controversy which arises under this Award Agreement shall be settled by the Board in its sole discretion.

Section 13.
Withholding

At the time any of the Earned Shares are delivered to you pursuant to this Award Agreement, the Company will be obligated to pay withholding and social taxes on your behalf. Accordingly, the

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Company shall have the power to withhold, or require you to remit to the Company, an amount sufficient to satisfy any such federal, state, local or foreign withholding tax or social tax requirements. At the Company's discretion, withholding may be taken from other compensation payable to you or may be satisfied by reducing the number of Shares deliverable to you. If the Company elects to reduce the number of Shares deliverable to you and less than the full value of a Share is needed to satisfy any applicable withholding taxes, the Company will distribute to you the value of the remaining fractional share in cash in an amount equal to the Fair Market Value of a Share as of the Settlement Date multiplied by the remaining fractional Share.

Section 14.
Notice

Whenever any notice is required or permitted hereunder, such notice must be given in writing Any notice required or permitted to be delivered hereunder shall be effective upon receipt thereof by the addressee The Company or the Grantee may change, at any time and from time to time, by written notice to the other, the address specified for receiving notices. Until changed in accordance herewith, the Company's address for receiving notices shall be Garmin Ltd., Attention: General Counsel, Mühlentalstrasse 2, 8200 Schaffhausen, Switzerland. Unless changed, the Grantee's address for receiving notices shall be the last known address of the Grantee on the Company's records. It shall be the Grantee's sole responsibility to notify the Company as to any change in his or her address. Such notification shall be made in accordance with this Section 14.

 

Section 15.
Severability

If any part of this Award Agreement is declared by any court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity shall not serve to invalidate any part of this Award Agreement not declared to be unlawful or invalid. Any part so declared unlawful or invalid shall, if possible, be construed in a manner which gives effect to the terms of such part to the fullest extent possible while remaining lawful and valid. Additionally, if any of the covenants in Section 7 are determined by a court to be unenforceable in whole or in part because of such covenant's duration or geographical or other scope, such court shall modify the duration or scope of such provision as the case may be, so as to cause such covenant, as so modified, to be enforceable.

Section 16.
Binding Effect

This Award Agreement shall bind, and, except as specifically provided herein, shall inure to the benefit of the respective heirs, legal representatives, successors and assigns of the parties hereto.

Section 17.
Governing Law and Jurisdiction

This Award Agreement and the rights of all persons claiming hereunder shall be construed and determined in accordance with the laws of the State of Kansas without giving effect to the principles of the Conflict of Laws to the contrary. Except as otherwise provided by mandatory forum requirements of the applicable law, the courts of the State of Kansas shall have exclusive jurisdiction with regard to any disputes under the Plan. The Company shall retain, however, in addition the right to bring any claim in any other appropriate forum.

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Section 18. Shareholder Approval and Company Clawback or Recoupment Policies

 

You acknowledge that any award under the Notice of Grant may be subject to certain provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank”) that could require the Company to recover certain amounts of incentive compensation paid to certain executive officers if the Company is required to prepare an accounting restatement due to the material noncompliance of the Company with any financial reporting requirements under any applicable securities laws. By accepting this grant, whether or not any compensation is ultimately paid hereunder, you agree and consent to any forfeiture or required recovery or reimbursement obligations of the Company with respect to any compensation paid to you that is forfeitable or recoverable by the Company pursuant to Dodd-Frank and in accordance with any Company policies and procedures adopted by the Compensation Committee in order to comply with Dodd Frank, as the same may be amended from time to time.

 

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EXHIBIT B

[PERFORMANCE GOALS AND WEIGHTING PERCENTAGE]

 

 

 

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APPENDIX TO RESTRICTED STOCK AWARD AGREEMENT

 

 

 

This Appendix includes additional terms and conditions that govern the Restricted Stock Unit awards if the Grantee is a member of the Company’s Executive Management.

 

You acknowledge that any award under this Notice of Grant is, to the extent required by applicable Swiss law and the articles of association of the Company subject to approval by the general meeting of shareholders of the Company and subject to recovery, forfeiture or clawback by the Company if and to the extent (i) the award is granted prior to approval by the general meeting of shareholders and (ii) the first general meeting of shareholders to whom the Company's board of directors submits for approval the proposed amount of compensation for the period for which the awards have been granted does not approve the proposal.

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