Restricted Stock Unit Agreement – Extended Provisions – Exxon Mobil Corp.
November 30, 2011
Exxon Mobil Corporation
Extended Provisions for Restricted Stock Unit
Agreements : Settlement in Shares
|
1. |
Effective Date and Credit of Restricted Stock Units. |
|
2. |
Conditions. If credited, the units will be subject to |
|
3. |
Restrictions and Risk of Forfeiture. During the |
|
(a) |
the units under restriction may not be sold, assigned, transferred, pledged, |
|
(b) |
the units under restriction may be forfeited as provided in section 6. |
|
4. |
Restricted Periods. The restricted periods will |
|
(a) |
with respect to 50% of the units, on November 30, 2016; and |
|
(b) |
with respect to the remaining units, on the later to occur of |
|
(i) |
November 30, 2021, or |
|
(ii) |
the first day of the calendar year immediately following the year in which |
|
except |
that |
|
(c) |
the restricted periods will automatically expire with respect to all shares |
|
5. |
No Obligation to Credit Units. The Corporation will |
|
(a) |
Grantee terminates (other than by death) before standard retirement time |
|
(b) |
Grantee is determined to have engaged in detrimental activity within the |
|
(c) |
Grantee fails to provide the Corporation with cash for any required taxes due |
|
6. |
Forfeiture of Units After Crediting. Until the |
Termination
If Grantee terminates (other than by death) before standard retirement time
within the meaning of the Program, all units for which the applicable restricted
periods have not expired will be automatically forfeited as of the date of
termination, except to the extent the administrative authority determines
Grantee may retain units issued under this Agreement.
Detrimental activity
If Grantee is determined to have engaged in detrimental activity within the
meaning of the Program, either before or after termination, all units for which
the applicable restricted periods have not expired will be automatically
forfeited as of the date of such determination.
– 1 –
Attempted transfer
The units are subject to forfeiture in the discretion of the administrative
authority if Grantee attempts to sell, assign, transfer, pledge, or otherwise
dispose of or encumber them during the applicable restricted periods.
Applicable law
The units are subject to forfeiture in whole or in part as the administrative
authority deems necessary in order to comply with applicable law.
|
7. |
Taxes. Notwithstanding the |
|
8. |
Form of Units; No Shareholder |
|
9. |
Settlement of Units. If and when the |
|
10. |
Change in Capitalization. If during |
|
11. |
Limits on the Corporation153s |
|
12. |
Receipt or Access to Program. |
|
13. |
Dividend Equivalents. The |
|
14. |
Addresses for Communications. To |
– 2 –
|
15. |
Transfer of Personal Data. The administration of the |
|
16. |
No Employment Contract or Entitlement to Other or Future |
|
17. |
Governing Law and Consent to |
|
18. |
Entire Agreement. This Agreement |
– 3 –
Stay Up-to-Date With How the Law Affects Your Life
Enter your email address to subscribe:
Learn more about FindLaw’s newsletters, including our terms of use and privacy policy.