{"id":40356,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/restricted-stock-unit-agreement-extended-provisions-exxon.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"restricted-stock-unit-agreement-extended-provisions-exxon","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/restricted-stock-unit-agreement-extended-provisions-exxon.html","title":{"rendered":"Restricted Stock Unit Agreement – Extended Provisions – Exxon Mobil Corp."},"content":{"rendered":"

November 30, 2011 <\/em><\/strong><\/p>\n

Exxon Mobil Corporation <\/strong><\/p>\n

Extended Provisions for Restricted Stock Unit
\nAgreements : Settlement in Shares <\/strong><\/p>\n\n\n\n
\n

1.<\/strong><\/p>\n<\/td>\n

<\/td>\n\n

Effective Date and Credit of Restricted Stock Units<\/u><\/strong>.
\nIf Grantee completes, signs, and returns the signature page of this Agreement to
\nthe Corporation in Dallas County, Texas, U.S.A. on or before March 9, 2012, this
\nAgreement will become effective the date the Corporation receives and accepts
\nthe signature page in Dallas County, Texas, U.S.A. After this agreement becomes
\neffective, the Corporation will credit to Grantee the number of restricted stock
\nunits specified on the signature page. Subject to the terms and conditions of
\nthis Agreement, each restricted stock unit (“unit”) will entitle Grantee to
\nreceive in settlement of the unit one share of the Corporation153s common stock.\n<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

2.<\/strong><\/p>\n<\/td>\n

<\/td>\n\n

Conditions<\/u><\/strong>. If credited, the units will be subject to
\nthe provisions of this Agreement, and to such regulations and requirements as
\nthe administrative authority of the Program may establish from time to time. The
\nunits will be credited to Grantee only on the condition that Grantee accepts
\nsuch provisions, regulations, and requirements.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

3.<\/strong><\/p>\n<\/td>\n

<\/td>\n\n

Restrictions and Risk of Forfeiture<\/u><\/strong>. During the
\napplicable restricted periods specified in section 4 of this Agreement,<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

(a)<\/p>\n<\/td>\n

<\/td>\n\n

the units under restriction may not be sold, assigned, transferred, pledged,
\nor otherwise disposed of or encumbered, and any attempt to do so will be null
\nand void; and<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

(b)<\/p>\n<\/td>\n

<\/td>\n\n

the units under restriction may be forfeited as provided in section 6.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

4.<\/strong><\/p>\n<\/td>\n

<\/td>\n\n

Restricted Periods<\/u><\/strong>. The restricted periods will
\ncommence when the units are credited to Grantee and, unless the units have been
\nforfeited earlier under section 6, will expire as follows, whether or not
\nGrantee is still an employee:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

(a)<\/p>\n<\/td>\n

<\/td>\n\n

with respect to 50% of the units, on November 30, 2016; and<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

(b)<\/p>\n<\/td>\n

<\/td>\n\n

with respect to the remaining units, on the later to occur of<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

(i)<\/p>\n<\/td>\n

<\/td>\n\n

November 30, 2021, or<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

(ii)<\/p>\n<\/td>\n

<\/td>\n\n

the first day of the calendar year immediately following the year in which
\nGrantee terminates;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

except<\/p>\n<\/td>\n

\n

that<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

(c)<\/p>\n<\/td>\n

<\/td>\n\n

the restricted periods will automatically expire with respect to all shares
\non the death of Grantee.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

5.<\/strong><\/p>\n<\/td>\n

<\/td>\n\n

No Obligation to Credit Units<\/u><\/strong>. The Corporation will
\nhave no obligation to credit any units and will have no other obligation to
\nGrantee with respect to the subject matter of this Agreement if Grantee fails to
\ncomplete, sign, and return the signature page of this Agreement on or before
\nMarch 9, 2012. In addition, whether or not Grantee has completed, signed, and
\nreturned the signature page, the Corporation will have no obligation to credit
\nany units and will have no other obligation to Grantee with respect to the
\nsubject matter of this Agreement if, before the units are credited:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

(a)<\/p>\n<\/td>\n

<\/td>\n\n

Grantee terminates (other than by death) before standard retirement time
\nwithin the meaning of the Program, except to the extent the administrative
\nauthority of the Program determines Grantee may receive units under this
\nAgreement; or<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

(b)<\/p>\n<\/td>\n

<\/td>\n\n

Grantee is determined to have engaged in detrimental activity within the
\nmeaning of the Program; or<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

(c)<\/p>\n<\/td>\n

<\/td>\n\n

Grantee fails to provide the Corporation with cash for any required taxes due
\nupon crediting the units, if Grantee is required to do so under section 7.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

6.<\/strong><\/p>\n<\/td>\n

<\/td>\n\n

Forfeiture of Units After Crediting<\/u><\/strong>. Until the
\napplicable restricted period specified in section 4 has expired, the units under
\nrestriction will be forfeited or subject to forfeiture in the following
\ncircumstances:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Termination <\/em><\/strong><\/p>\n

If Grantee terminates (other than by death) before standard retirement time
\nwithin the meaning of the Program, all units for which the applicable restricted
\nperiods have not expired will be automatically forfeited as of the date of
\ntermination, except to the extent the administrative authority determines
\nGrantee may retain units issued under this Agreement.<\/p>\n

Detrimental activity <\/em><\/strong><\/p>\n

If Grantee is determined to have engaged in detrimental activity within the
\nmeaning of the Program, either before or after termination, all units for which
\nthe applicable restricted periods have not expired will be automatically
\nforfeited as of the date of such determination.<\/p>\n

– 1 –<\/p>\n

\n

Attempted transfer <\/em><\/strong><\/p>\n

The units are subject to forfeiture in the discretion of the administrative
\nauthority if Grantee attempts to sell, assign, transfer, pledge, or otherwise
\ndispose of or encumber them during the applicable restricted periods.<\/p>\n

Applicable law <\/em><\/strong><\/p>\n

The units are subject to forfeiture in whole or in part as the administrative
\nauthority deems necessary in order to comply with applicable law.<\/p>\n\n\n\n
\n

7.<\/strong><\/p>\n<\/td>\n

<\/td>\n\n

Taxes<\/u><\/strong>.<\/strong> Notwithstanding the
\nrestrictions on transfer that otherwise apply, the Corporation in its sole
\ndiscretion may withhold units or shares, either at the time of issuance, at the
\ntime the applicable restricted periods expire, or at any other time in order to
\nsatisfy any required withholding, social security, and similar taxes or
\ncontributions (collectively, “required taxes”). Withheld units or shares may be
\nretained by the Corporation or sold on behalf of Grantee. If the Corporation
\ndoes not withhold units or shares to satisfy required taxes, in the alternative
\nthe Corporation may require Grantee to deposit with the Corporation cash in an
\namount determined by the Corporation to be necessary to satisfy required taxes.
\nNotwithstanding any other provision of this Agreement, the Corporation will be
\nunder no obligation to credit units or to deliver shares to Grantee in
\nsettlement of any units if Grantee fails timely to deposit such amount with the
\nCorporation. The Corporation in its sole discretion may also withhold any
\nrequired taxes from dividends paid on the units.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

8.<\/strong><\/p>\n<\/td>\n

<\/td>\n\n

Form of Units; No Shareholder
\nStatus<\/u><\/strong>.<\/strong> The units will be represented by
\nbook-entry credits in records maintained by or on behalf of the Corporation.
\nUnits will be unfunded and unsecured promises by the Corporation to deliver
\nshares in the future upon the terms and subject to the conditions of this
\nAgreement. Grantee will not be a shareholder of the Corporation with respect to
\nunits prior to the time shares are actually registered in Grantee153s name in
\nsettlement of such units in accordance with section 9.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

9.<\/strong><\/p>\n<\/td>\n

<\/td>\n\n

Settlement of Units<\/u><\/strong>.<\/strong> If and when the
\napplicable restricted period expires with respect to any units, subject to
\nsection 7, the Corporation will issue shares, free of restriction and registered
\nin the name of Grantee, in settlement of such units. Such shares will be
\ndelivered promptly after such expiration to or for the account of Grantee either
\nin certificated form or by book-entry transfer in accordance with the procedures
\nof the administrative authority in effect at the time.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

10.<\/strong><\/p>\n<\/td>\n

<\/td>\n\n

Change in Capitalization<\/u><\/strong>.<\/strong> If during
\nthe applicable restricted periods a stock split, stock dividend, or other
\nrelevant change in capitalization of the Corporation occurs, the administrative
\nauthority will make such adjustments in the number of units credited to Grantee,
\nor in the number and type of securities deliverable to Grantee in settlement of
\nsuch units and used in determining dividend equivalent amounts, as the
\nadministrative authority may determine to be appropriate. Any resulting new
\nunits or securities credited with respect to previously credited units that are
\nstill restricted under this Agreement will be delivered to and held by or on
\nbehalf of the Corporation and will be subject to the same provisions,
\nrestrictions, and requirements as those previously credited units.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

11.<\/strong><\/p>\n<\/td>\n

<\/td>\n\n

Limits on the Corporation153s
\nObligations<\/u><\/strong>.<\/strong> Notwithstanding anything else
\ncontained in this Agreement, under no circumstances will the Corporation be
\nrequired to credit any units or issue or deliver any shares in settlement of
\nunits if doing so would violate any law or listing requirement that the
\nadministrative authority determines to be applicable, or if Grantee has failed
\nto provide for required taxes pursuant to section 7.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

12.<\/strong><\/p>\n<\/td>\n

<\/td>\n\n

Receipt or Access to Program<\/u><\/strong>.<\/strong>
\nGrantee acknowledges receipt of or access to the full text of the Program.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

13.<\/strong><\/p>\n<\/td>\n

<\/td>\n\n

Dividend Equivalents<\/u><\/strong>.<\/strong> The
\nCorporation will pay to Grantee cash with respect to each credited unit
\ncorresponding in amount, currency, and timing to cash dividends that would be
\npayable with respect to a share of common stock outstanding on each record date
\nthat occurs during the applicable restricted period. Alternatively, the
\nadministrative authority may determine to reinvest such dividend equivalents in
\nadditional units which will be held subject to all the terms and conditions
\notherwise applicable to units under this Agreement.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

14.<\/strong><\/p>\n<\/td>\n

<\/td>\n\n

Addresses for Communications<\/u><\/strong>.<\/strong> To
\nfacilitate communications regarding this Agreement, Grantee agrees to notify the
\nCorporation promptly of changes in current mailing and email addresses.
\nCommunications to the Corporation in connection with this Agreement should be
\ndirected to the Incentive Processing Office at the address given on the
\nsignature page of this Agreement, or to such other address as the Corporation
\nmay designate by further notice to Grantee.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

– 2 –<\/p>\n

\n\n\n\n
\n

15.<\/strong><\/p>\n<\/td>\n

<\/td>\n\n

Transfer of Personal Data.<\/u><\/strong> The administration of the
\nProgram and this Agreement, including any subsequent ownership of shares,
\ninvolve the collection, use, and transfer of personal data about Grantee between
\nand among the Corporation, selected subsidiaries and other affiliates of the
\nCorporation, and third-party service providers such as Morgan Stanley Smith
\nBarney and Computershare (the Corporation153s transfer agent), as well as various
\nregulatory and tax authorities around the world. This data includes Grantee153s
\nname, age, date of birth, contact information, work location, employment status,
\ntax status, social security number, salary, nationality, job title, share
\nownership, and details of incentive awards granted, cancelled, vested or
\nunvested, and related information. By accepting this award, Grantee authorizes
\nsuch collection, use, and transfer of this data. Grantee may, at any time and
\nwithout charge, view such data and require necessary corrections to it. Such
\ndata will at all times be held in accordance with applicable laws, regulations,
\nand agreements.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

16.<\/strong><\/p>\n<\/td>\n

<\/td>\n\n

No Employment Contract or Entitlement to Other or Future
\nAwards<\/u><\/strong>.<\/strong> This Agreement, the Corporation153s
\nincentive programs, and Grantee153s selection for incentive awards do not imply or
\nform a part of any contract or assurance of employment, and they do not in any
\nway limit or restrict the ability of Grantee153s employer to terminate Grantee153s
\nemployment. Grantee acknowledges that the Corporation maintains and administers
\nits incentive programs entirely in its discretion and that Grantee is not
\nentitled to any other or future incentive awards of any kind in addition to
\nthose that have already been granted.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

17.<\/strong><\/p>\n<\/td>\n

<\/td>\n\n

Governing Law and Consent to
\nJurisdiction<\/u><\/strong>.<\/strong> This Agreement and the Program are
\ngoverned by the laws of the State of New York without regard to any conflict of
\nlaw rules. Any dispute arising out of or relating to this Agreement or the
\nProgram may be resolved in any state or federal court located within Dallas
\nCounty, Texas, U.S.A. Grantee accepts that venue and submits to the personal
\njurisdiction of any such court. Similarly, the Corporation accepts such venue
\nand submits to such jurisdiction.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

18.<\/strong><\/p>\n<\/td>\n

<\/td>\n\n

Entire Agreement<\/u><\/strong>.<\/strong> This Agreement
\nconstitutes the entire understanding between Grantee and the Corporation with
\nrespect to the subject matter of this Agreement.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

– 3 –<\/p><\/p>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7496],"corporate_contracts_industries":[9412],"corporate_contracts_types":[9539,9545],"class_list":["post-40356","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-exxon-mobil-corp","corporate_contracts_industries-energy__refining","corporate_contracts_types-compensation","corporate_contracts_types-compensation__esp"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/40356","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=40356"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40356"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40356"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}