EXHIBIT 10.02
Published on December 1, 2006
Exhibit 10.02
Award No. «GrantNumber»
INTUIT INC. 2005 EQUITY INCENTIVE PLAN GRANT AGREEMENT
Restricted Stock Unit
(MSPP Purchased Award)
Restricted Stock Unit
(MSPP Purchased Award)
Intuit Inc., a Delaware corporation (the Company), hereby grants you a restricted stock unit
award (Award) pursuant to the Companys 2005 Equity Incentive Plan (the 2005 Plan) and the
Management Stock Purchase Program (the MSPP) adopted under the 2005 Plan, for the number of
shares of the Companys Common Stock, $0.01 par value per share (Common Stock) set forth below.
All capitalized terms in this Grant Agreement (Agreement) that are not defined in this Agreement
have the meanings given to them in the MSPP or the 2005 Plan. This Award is subject to all of the
terms and conditions of the MSPP and the 2005 Plan, each of which is incorporated into this
Agreement by reference. This Agreement is not meant to interpret, extend, or change the MSPP or the
2005 Plan in any way, or to represent the full terms of the MSPP or the 2005 Plan. If there is any
discrepancy, conflict or omission between this Agreement and the provisions of either the MSPP or
the 2005 Plan, the provisions of the MSPP and/or the 2005 Plan, as applicable, shall apply.
Name of Participant:
Employee ID:
Address:
Number of Shares:
Date of Grant:
Settlement Date: [insert date three years from grant date]
Employee ID:
Address:
Number of Shares:
Date of Grant:
Settlement Date: [insert date three years from grant date]
This Award will be fully vested on the Date of Grant. This Award is being granted in respect of
your election to forgo the payment of cash bonus compensation equal to 100% of the Fair Market
Value of the of the Shares subject to this Award that would have otherwise become payable to you on
the Date of Grant.
1. | Issuance of Shares under this Award: The Company will issue you the Shares subject to this Award on the Settlement Date. In the event of your Termination prior to the Settlement Date, the Settlement Date under this Agreement will be your Termination Date. Until the date the shares are issued to you, you will have no rights as a stockholder of the Company. Notwithstanding anything herein to the contrary, in the event that the Settlement Date occurs as a result of your Termination for any reason other than death or disability (as such term is defined under Section 409A of the Code), and the Company determines that as of such Settlement Date you are a specified employee (as such term is defined under Section 409A of the Code), any Shares that would otherwise be issued to you on such Settlement Date will not be issued to you until the date that is six months following the Termination Date (or such earlier time permitted under Section 409A of the Code without the imposition of any accelerated or additional taxes under Section 409A of the Code), or, if earlier, the original Settlement Date set forth above. |
2. | Withholding Taxes: This Award is generally taxable for purposes of United States federal income and employment taxes upon settlement based on the Fair Market Value on Settlement Date. To the extent required by applicable federal, state or other law, you shall make arrangements satisfactory to the Company for the payment and satisfaction of any income tax, social security tax, payroll tax, payment on account or other tax related to withholding obligations that arise under this Award and, if applicable, any sale of Shares of the Common Stock. The Company shall not be required to issue shares of the Common Stock pursuant to this Award or to recognize any purported transfer of shares of the Common Stock until such obligations are satisfied. Unless otherwise agreed to by the Company and you, these obligations will be satisfied by the Company withholding a number of shares of Common Stock that would otherwise be issued under this Award that the Company determines has a Fair Market Value sufficient to meet the tax withholding obligations. For purposes of this Award, Fair Market Value is defined in Section 26(n) of the 2005 Plan. | |
You are ultimately liable and responsible for all taxes owed by you in connection with this Award, regardless of any action the Company takes or any transaction pursuant to this section with respect to any tax withholding obligations that arise in connection with this Award. The Company makes no representation or undertaking |
regarding the treatment of any tax withholding in connection with the grant, issuance, vesting or settlement of this Award or the subsequent sale of any of the shares of Common Stock underlying the shares that vest. The Company does not commit and is under no obligation to structure this Award to reduce or eliminate your tax liability. |
3. | Disputes: Any question concerning the interpretation of this Agreement, any adjustments to made thereunder, and any controversy that may arise under this Agreement, shall be determined by the Committee in accordance with its authority under Section 4 of the 2005 Plan and Section 7 of the MSPP. Such decision by the Committee shall be final and binding. | |
4. | Other Matters: |
(a) | The Award granted to an employee in any one year, or at any time, does not obligate the Company or any subsidiary or other affiliate of the Company to grant an award in any future year or in any given amount and should not create an expectation that the Company (or any subsidiary or other affiliate) might grant an award in any future year or in any given amount. | ||
(b) | Nothing contained in this Agreement creates or implies an employment contract or term of employment or any promise of specific treatment upon which you may rely. | ||
(c) | This Award is not part of your employment contract (if any) with the Company, your salary, your normal or expected compensation, or other remuneration for any purposes, including for purposes of computing benefits, severance pay or other termination compensation or indemnity. | ||
(d) | Because this Agreement relates to terms and conditions under which you may be issued shares of Common Stock of Intuit Inc., a Delaware corporation, an essential term of this Agreement is that it shall be governed by the laws of the State of Delaware, without regard to choice of law principles of Delaware or other jurisdictions. Any action, suit, or proceeding relating to this Agreement or the Award granted hereunder shall be brought in the state or federal courts of competent jurisdiction in Santa Clara County in the State of California. |
This Agreement (including the MSPP and the 2005 Plan, which is incorporated by reference)
constitutes the entire agreement between you and the Company with respect to this Award, and
supersedes all prior agreements or promises with respect to the Award. Except as provided in the
MSPP and/or the 2005 Plan, this Agreement may be amended only by a written document signed by the
Company and you. Subject to the terms of the MSPP and the 2005 Plan, the Company may assign any of
its rights and obligations under this Agreement, and this Agreement shall be binding on, and inure
to the benefit of, the successors and assigns of the Company. Subject to the restrictions on
transfer of an Award described in Section 14 of the 2005 Plan, this Agreement shall be binding on
your permitted successors and assigns (including heirs, executors, administrators and legal
representatives). All notices required under this Agreement or the MSPP or the 2005 Plan must be
mailed or hand-delivered, (1) in the case of the Company, to the Company at its address set forth
in this Agreement, or at such other address designated in writing by the Company to you, and (2) in
the case of you, at the address recorded in the books and records of the Company as your then
current home address.
The Company has signed this Award Agreement effective as the Date of Grant.
INTUIT INC. | ||||
2632 Marine Way | ||||
Mountain View, California 94043 | ||||
By: | ||||
Steve Bennett, Chief Executive Officer |
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