EX-10.3 4 grmn-ex10_3.htm EX-10.3 EX-10.3

 

附件10.3

 

garmin ltd.
2005股權激勵計劃

修訂並於2024年10月25日重新制定
限制股票單位獎勵協議

(對於加拿大受助者)

 

致： _______________________ (“您” 或“公司”受獎人”)

授予日期： _______________________

撥款通知書:

您已被授予garmin ltd股份 (“限制性股票單位）與garmin ltd註冊股票有關，每股面值為美元指數$0.10。股份）受Garmin Ltd. 2005股權激勵計劃條款和條件的約束，該計劃於2024年10月25日生效，經修訂和重述（或者為法定目的而成立的人士，其業務或活動（“法定機構”）包括對各種公共機構的員工福利計劃、養老金計劃、保險計劃開展投資基金管理；”)以及您與Garmin Ltd之間簽署的獎勵協議（該權益代理「附件A」為本證明書，若你滿足本授予通知書和附件A中設定的條件，公司同意支付你股份如下：

獲得的RSU數量

 

應付款日期

 

受贈者必須保持在職日期

需保持在職才可獲得獎勵

 

 

 

 

 

__________ 股份

 

__________, 20__

 

______________, 20__

__________ 股份

 

__________, 20__

 

______________, 20__

__________ 股份

 

__________, 20__

 

______________, 20__

 

為了充分了解計劃（附件中附有副本）和獎勵協議（下文簽署的「獎勵協議」），附件A的展示，建議您仔細閱讀計劃和本文件。 請參閱計劃文件以瞭解本協議中使用的大寫字母定義。

為了正確接受這些RSU，您必須點擊"接受"按鈕。接受必須在您收到本通知和獎勵協議後的十（10）天內進行電子方式。 通過接受這些限制性股票，您也同意受《附件A》的約束，包括《附件A》第6條的限制契約。.

garmin ltd.

作者：

姓名：Clifton A. Pemble

標題：總裁兼首席執行官

 

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展覽A

協議：

鑑於受讓方向公司支付的對價以及本文件中包含的雙方承諾和契約，受讓方和公司同意如下：

第1節。
計劃的合併

所有條款均受本獎勵協議的規定和受託人在此享有的權利，完全受計劃的規定和董事會在其中提供的權力的約束。在本獎勵協議中使用的大寫術語但未予定義的，應具有計劃中所載的含義。

第二節。
授予受限股份權

根據上文所述的授予日期，在所載條款和條件以及計劃中，公司授予您機會，接收下面標題為“RSU授予數量”的通知書中確認的不受限制股份數目。 假如您被公司或附屬公司僱用（並且自授予日以來一直被僱用），且未根據第3條被剝奪獲取RSU的權利，那麼（依據第12條）您將在下面提到的日期支付與您剩餘RSU總數相等的不受限制股份數目，該數目位於通知書上標題為“支付日期”的日期上。 如果“支付日期”下的日期是星期六、星期日或任何其他非業務日，那麼應支付給您的股份將在下一個業務日支付給您。限制性股票單位如果“支付日期”是星期六或星期日或任何其他非業務日，則應於該日期支付給您的股份將於下一個業務日支付給您。

第三部分。
終止隸屬關係的影響

如果您因任何原因被公司終止聯繫，包括具或不具有本第3條所定義的原因（如下文所述），自願辭職、死亡或殘障，該終止對所有或RSUs的任何部分的影響如下。

(a)
如果因死亡或殘障而結束聯繫，您在此種結束聯繫之前應立即可放棄的RSU，在此期間成為不可放棄的，公司將立即透過交付，交付無限制股份的方式，將您(或在您死後，將賠償交付給您的個人代表或指定受益人)剩餘RSU股份總數交付給您。
(b)
如果您在該期間有關係終止（」更改控制期」) 從控制權變更開始，並於控制權變更的一周年結束，該公司或其他附屬公司因原因以外的關係終止，或由受助人出於理由正當原因發起的終止關係，則您的可撤銷的 RSU 將在此時變為不被遺棄，並且公司將立即交付所有 RSU，通過交付等於您剩餘的總數量的不限制股份數量 SUS;
(c)
如果您因有原因終止關聯，或在除了死亡或殘廢以外的任何其他原因情況下，或根據上述第3(b)條中立即描述的情況，您的限售股份（RSUs）將

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在合作終止前可喪失的範圍，將自動被喪失，您將不再享有本獎勵協議下的其他權利；
(d)
儘管計畫中“起因”一詞的定義，但對於這份獎勵協議，該詞彙的意思是，並不以任何方式限制其在普通法下的定義（明確地包括在此定義中），您的任何對公司或任何子公司有重大不利影響的不當行為，包括但不限於：
1.
您對任何重罪或其他涉及欺詐、不誠實或道德敗壞的罪行的堅定信念或有罪認罪;
2.
您有意行為或不作為，若根據公司或您所在子公司的僱員政策，構成即時被解僱的理由，包括但不限於在公司或任何子公司場所酗酒或吸毒，或違反適用的性騷擾法律或您所在子公司的內部性騷擾政策；
3.
您習慣性忽略職責，包括但不限於未經授權多次未經合理理由缺席工作；或
4.
您蓄意或故意的職務上不當行為，導致公司或任何附屬公司蒙受財務損失。
第4節
投資意向

受讓人同意根據RSU一個或多個董事會股份發放而取得的股份僅以自己的名義作為投資而取得，並非出於對其根據1933年證券法（即“" 」或其他適用的證券法律意義內）所作的任何分銷或公開提供的意圖或目的而取得。1933法案當董事會確定時，根據此獎勵協議發行的任何股票證書應載有該股票已經被這樣獲得的說明。公司可以承擔遵守1933年法案、其他適用證券法律或任何國家證券交易所規則和相關監管機構的費用，但在任何情況下均不得要求承擔這些費用，以在此獎勵協議或根據此協議收購的任何股票的註冊、資格或轉讓方面進行合規性。如果（a）公司先前已經獲得了對其令人滿意的律師意見，即此類轉讓將不涉及違反1933年法案和其他適用證券法律，或者（b）股票已經依照1933年法案和其他適用州或聯邦證券法合規註冊，那麼對於股票的轉讓限制將失效。如果根據1933年法案，此獎勵協議或根據此獎勵協議獲得的股份已在所需的情況下註冊，受獎人同意他將不得對該等股票進行公開發行，除非在該公開交易所上進行，該交易所上正好列有公司的普通股。

受让方还承认并同意根据 RSU 的一项或多项兑现而获得的股份，将不得按加拿大各省和地区的证券法转让或转售，除非根据有限

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遵守適用證券法律和監管政策下的豁免條款，並符合適用法律的其他要求。

第5節。
員工不可轉讓的限制股票單位（RSUs）

根據本獎勵協議，關於RSUs的任何權利不得出售、轉讓、質押、轉讓、或以其他方式讓與或抵押，包括但不限於，除非經公司明確批准，任何聲稱將RSUs轉讓給目前配偶或前配偶以解決法律分居或離婚程序的轉移。對於授予Grantee的RSUs的所有權利僅在其有生之年內才可供Grantee使用。

第6節。
限制性契約

作為這份獎勵協議的控制項，受贈人對限制性股票單位的權利，以及除了受贈人可能與公司訂立的任何限制性協議外，受贈人接受並同意遵守以下內容：

(a)
獎勵協議條款的保密. 受贈人同意不得在任何時候揭露或使得他人揭露有關此獎勵協議的任何資訊，除非：(i)法律要求，或(ii)同意受約束於本第6(a)段的受贈人法律和財務顧問。
(b)
非競爭。 在受让人受僱期間及受让人停止受僱或擔任公司或任何子公司顧問或獨立承包商後的一年內，受让人不得直接或間接擁有、管理、控制或參與擁有、管理、操作或控制，或與任何涉及以下活動、產品或服務的公司或組織有關或擁有任何利益（不論是股東、合夥人、成員、董事、官員、僱員、代理、顧問，或以其他任何資格）：
1.
個人和團隊活動監控系統，包括速度、距離和節奏監控系統，運動分析系統以及相關的手錶顯示和其他顯示，心率監控系統以及相關的手錶顯示和其他顯示，以及假肢監控和控制系統；或
2.
針對低功耗應用設計的無線通信系統和通訊協定;

in any province, state or country in which the Company or any Subsidiary conducts business (or, to the knowledge of the Grantee any additional location in which the Company or any Subsidiary intends to conduct business).

Nothing in this Section 6(b) 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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(c)
Noninterference. 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, entice away, or otherwise interfere with any employee, 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.
(d)
Nonsolicitation. 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, hire, recruit, employ, or attempt to hire, recruit or employ, or facilitate any such acts by others, any person then currently employed by the Company or any Subsidiary.
(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 6(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)
No Detrimental Communications. The Grantee agrees not to disclose or cause to be disclosed at any time any untrue, negative, adverse or derogatory comments or information about the Company or any Subsidiary, about any product or service provided by the Company or any Subsidiary, or about prospects for the future of the Company or any Subsidiary.
(g)
Remedy. The Grantee acknowledges the consideration provided herein (absent the Grantee's agreement to this Section 6) is more than the Company is obligated to pay, and the Grantee further acknowledges that irreparable harm would result from any breach of this Section and monetary damages 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 6, the Company and any Subsidiary shall be entitled to injunctive relief therefor, and in particular, without limiting the generality of the foregoing, neither the Company nor any Subsidiary shall be precluded from pursuing any and all remedies they may have at law or in equity for breach of such obligations. In addition, this Award Agreement and all of Grantee's right hereunder shall terminate immediately the first date on which the Grantee engages in such activity and the Board shall be entitled on or after the first date on which the Grantee engages in such activity to require the Grantee to return any Shares obtained by the Grantee's upon vesting of any RSUs to the Company and to require the Grantee to repay any proceeds received at any time from the sale of Shares obtained by the Grantee pursuant to the vesting of any RSUs (plus interest on such amount from the date received at a rate equal to the prime lending rate as announced from time to time in The Wall Street Journal) and to recover all reasonable attorneys' fees and expenses incurred in terminating this Award Agreement and recovering such Shares and proceeds.

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Section 7.
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 certificates for 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 and (ii) does not have nor may he or she exercise any voting rights with respect to any of the RSUs, in both cases (i) and (ii) above, unless and until the actual Shares underlying the RSUs have been delivered pursuant to this Award Agreement.

Section 8.
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 9.
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 10.
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 11.
Board Authority

Any questions concerning the interpretation of this Award Agreement, any adjustments required to be made under Sections 9 or 10 of this Award Agreement, and any controversy which arises under this Award Agreement shall be settled by the Board in its sole discretion.

Section 12.
Withholding

Notwithstanding Article 14 of the Plan, this Section 12 will apply to the Company's withholding obligations related to this Award Agreement. At the time the RSUs are delivered to you pursuant to this Award Agreement, the Company will be obligated to pay withholding taxes on your

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behalf. Accordingly, and at the Company's discretion, such Federal, Provincial, local or foreign withholding tax requirements may be satisfied by you providing specific written authorization to deduct, from any earnings owed or accruing to you, the appropriate sum of money required for such withholding or remittance or, at the Company's discretion, such withholdings may be satisfied by reducing the number of RSUs delivered to you. In the event of your neglect or refusal to provide the Company with your personal authorization in writing to deduct the appropriate withholdings from your earnings, the Company shall have no obligation to deliver the relevant RSUs to you. If the Company reduces the number of RSUs deliverable to you and less than the full value of an RSU 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 RSU.

Section 13.
Notice

Whenever any notice is required or permitted hereunder, such notice must be given in writing by (a) personal delivery, or (b) expedited, recognized delivery service with proof of delivery, or (c) United States Mail, postage prepaid, certified mail, return receipt requested, or (d) telecopy or email (provided that the telecopy or email is confirmed). Any notice required or permitted to be delivered hereunder shall be deemed to be delivered on the date which it was personally delivered, sent to the intended addressee, or, whether actually received or not, on the third business day after it is deposited in the United States mail, certified or registered, postage prepaid, addressed to the person who is to receive it at the address which such person has theretofore specified by written notice delivered in accordance herewith. 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 13.

 

Section 14.
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 6 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 have the power to 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 15.
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.

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Section 16.
Governing Law

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.

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