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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/07/14 Unifi Inc 10-Q 12/29/13 134:19M RDG Filings/FA |
Document/Exhibit Description Pages Size
1: 10-Q Quarterly Report HTML 1.53M
2: EX-10 Exhibit 10.1 HTML 56K
3: EX-10 Exhibit 10.3 HTML 93K
4: EX-10 Exhibit 10.4 HTML 81K
5: EX-31 Exhibit 31.1 HTML 45K
6: EX-31 Exhibit 31.2 HTML 45K
7: EX-32 Exhibit 32.1 HTML 40K
8: EX-32 Exhibit 32.2 HTML 40K
90: R1 Document And Entity Information HTML 65K
68: R2 Condensed Consolidated Balance Sheets (Unaudited) HTML 144K
85: R3 Condensed Consolidated Balance Sheets (Unaudited) HTML 45K
(Parentheticals)
94: R4 Condensed Consolidated Statements of Income HTML 95K
(Unaudited)
122: R5 Condensed Consolidated Statements of Comprehensive HTML 73K
Income (Unaudited)
72: R6 Condensed Consolidated Statements of Shareholders' HTML 91K
Equity (Unaudited)
84: R7 Condensed Consolidated Statements of Cash Flows HTML 157K
(Unaudited)
61: R8 Note 1 - Background HTML 43K
49: R9 Note 2 - Basis of Presentation; Condensed Notes HTML 45K
124: R10 Note 3 - Recent Accounting Pronouncements HTML 41K
96: R11 Note 4 - Acquisition HTML 65K
95: R12 Note 5 - Receivables, Net HTML 81K
103: R13 Note 6 - Inventories HTML 63K
104: R14 Note 7 - Other Current Assets HTML 60K
100: R15 Note 8 - Property, Plant and Equipment, Net HTML 94K
105: R16 Note 9 - Intangible Assets, Net HTML 106K
86: R17 Note 10 - Other Non-Current Assets HTML 59K
91: R18 Note 11 - Accrued Expenses HTML 67K
98: R19 Note 12 - Long-Term Debt HTML 201K
133: R20 Note 13 - Other Long-Term Liabilities HTML 85K
114: R21 Note 14 - Income Taxes HTML 49K
78: R22 Note 15 - Shareholders' Equity HTML 64K
97: R23 Note 16 - Stock Based Compensation HTML 179K
81: R24 Note 17 - Fair Value of Financial Instruments and HTML 115K
Non-Financial Assets and Liabilities
37: R25 Note 18 - Accumulated Other Comprehensive Income HTML 134K
116: R26 Note 19 - Computation of Earnings Per Share HTML 102K
129: R27 Note 20 - Other Operating Expense, Net HTML 116K
55: R28 Note 21 - Investments in Unconsolidated Affiliates HTML 265K
and Variable Interest Entities
54: R29 Note 22 - Commitments and Contingencies HTML 48K
59: R30 Note 23 - Related Party Transactions HTML 138K
60: R31 Note 24 - Business Segment Information HTML 480K
62: R32 Note 25 - Subsequent Events HTML 41K
25: R33 Note 26 - Supplemental Cash Flow Information HTML 53K
112: R34 Accounting Policies, by Policy (Policies) HTML 47K
76: R35 Note 4 - Acquisition (Tables) HTML 56K
79: R36 Note 5 - Receivables, Net (Tables) HTML 79K
43: R37 Note 6 - Inventories (Tables) HTML 61K
132: R38 Note 7 - Other Current Assets (Tables) HTML 58K
15: R39 Note 8 - Property, Plant and Equipment, Net HTML 94K
(Tables)
65: R40 Note 9 - Intangible Assets, Net (Tables) HTML 104K
120: R41 Note 10 - Other Non-Current Assets (Tables) HTML 58K
39: R42 Note 11 - Accrued Expenses (Tables) HTML 65K
53: R43 Note 12 - Long-Term Debt (Tables) HTML 199K
58: R44 Note 13 - Other Long-Term Liabilities (Tables) HTML 84K
69: R45 Note 15 - Shareholders' Equity (Tables) HTML 55K
24: R46 Note 16 - Stock Based Compensation (Tables) HTML 174K
48: R47 Note 17 - Fair Value of Financial Instruments and HTML 105K
Non-Financial Assets and Liabilities (Tables)
18: R48 Note 18 - Accumulated Other Comprehensive Income HTML 135K
(Tables)
118: R49 Note 19 - Computation of Earnings Per Share HTML 99K
(Tables)
38: R50 Note 20 - Other Operating Expense, Net (Tables) HTML 116K
113: R51 Note 21 - Investments in Unconsolidated Affiliates HTML 258K
and Variable Interest Entities (Tables)
44: R52 Note 23 - Related Party Transactions (Tables) HTML 132K
66: R53 Note 24 - Business Segment Information (Tables) HTML 482K
17: R54 Note 26 - Supplemental Cash Flow Information HTML 49K
(Tables)
21: R55 Note 4 - Acquisition (Details) HTML 57K
57: R56 Note 4 - Acquisition (Details) - Fair Value Of HTML 61K
Assets Acquired And Liabilities Assumed
29: R57 Note 5 - Receivables, Net (Details) - Receivables HTML 59K
125: R58 Note 5 - Receivables, Net (Details) - Allowance HTML 52K
for Uncollectible Accounts and Reserve for Yarn
Quality Claims
74: R59 Note 6 - Inventories (Details) HTML 40K
101: R60 Note 6 - Inventories (Details) - Inventories HTML 58K
47: R61 Note 7 - Other Current Assets (Details) HTML 41K
51: R62 Note 7 - Other Current Assets (Details) - Other HTML 53K
Current Assets
110: R63 Note 8 - Property, Plant and Equipment, Net HTML 55K
(Details) - Property, Plant and Equipment, Net
106: R64 Note 8 - Property, Plant and Equipment, Net HTML 48K
(Details) - Other Property, Plant and Equipment
Costs and Expenses
77: R65 Note 9 - Intangible Assets, Net (Details) HTML 41K
108: R66 Note 9 - Intangible Assets, Net (Details) - HTML 51K
Intangible Assets, Net
45: R67 Note 9 - Intangible Assets, Net (Details) - HTML 47K
Amortization Expense For Intangible Assets
82: R68 Note 10 - Other Non-Current Assets (Details) - HTML 53K
Other Non-current Assets
128: R69 Note 11 - Accrued Expenses (Details) - Accrued HTML 70K
Expenses
20: R70 Note 12 - Long-Term Debt (Details) HTML 120K
36: R71 Note 12 - Long-Term Debt (Details) - Long-term HTML 59K
Debt
67: R72 Note 12 - Long-Term Debt (Details) - Scheduled HTML 69K
Maturities Of Outstanding Debt Obligations
27: R73 Note 12 - Long-Term Debt (Details) - Debt HTML 48K
Financing Fees
131: R74 Note 12 - Long-Term Debt (Details) - Interest HTML 62K
Expense Components
41: R75 Note 12 - Long-Term Debt (Details) - Components Of HTML 45K
Loss On Extinguishment of Debt
31: R76 Note 13 - Other Long-Term Liabilities (Details) - HTML 59K
Other Long-term Liabilities
35: R77 Note 13 - Other Long-Term Liabilities (Details) - HTML 44K
Supplement Post-employment Plan Expenses
22: R78 Note 14 - Income Taxes (Details) HTML 47K
26: R79 Note 15 - Shareholders' Equity (Details) HTML 47K
92: R80 Note 15 - Shareholders' Equity (Details) - HTML 46K
Repurchases And Retirements Of Common Stock
33: R81 Note 16 - Stock Based Compensation (Details) HTML 97K
126: R82 Note 16 - Stock Based Compensation (Details) - HTML 50K
Stock Option Valuation Assumptions
63: R83 Note 16 - Stock Based Compensation (Details) - HTML 88K
Summary Of Stock Option Activity
99: R84 Note 16 - Stock Based Compensation (Details) - HTML 69K
Summary Of RSU Activity
107: R85 Note 16 - Stock Based Compensation (Details) - HTML 45K
Stock Based Compensation Total Cost Charged
Against Income
32: R86 Note 16 - Stock Based Compensation (Details) - HTML 52K
Number Of Securities Remaining Available For
Future Issuance Under Equity Compensation Plans
34: R87 Note 17 - Fair Value of Financial Instruments and HTML 54K
Non-Financial Assets and Liabilities (Details)
123: R88 Note 17 - Fair Value of Financial Instruments and HTML 58K
Non-Financial Assets and Liabilities (Details) -
Fair Values Of Derivative Financial Instruments
28: R89 Note 17 - Fair Value of Financial Instruments and HTML 50K
Non-Financial Assets and Liabilities (Details) -
Effect Of Marked-To-Market Hedging Derivative
Instruments
93: R90 Note 18 - Accumulated Other Comprehensive Income HTML 49K
(Details) - Accumulated Other Comprehensive Income
89: R91 Note 18 - Accumulated Other Comprehensive Income HTML 79K
(Details) - Pre-Tax, Tax, And After-Tax Effects Of
Components Of Other Comprehensive Income (Loss)
111: R92 Note 19 - Computation of Earnings Per Share HTML 43K
(Details)
88: R93 Note 19 - Computation of Earnings Per Share HTML 62K
(Details) - Computation Of Basic and Diluted
Earnings Per Share
73: R94 Note 20 - Other Operating Expense, Net (Details) HTML 42K
117: R95 Note 20 - Other Operating Expense, Net (Details) - HTML 55K
Components Of Other Operating Expense, Net
70: R96 Note 20 - Other Operating Expense, Net (Details) - HTML 44K
Components Of Restructuring Charges, Net
42: R97 Note 20 - Other Operating Expense, Net (Details) - HTML 50K
Changes To Severance Reserves
80: R98 Note 21 - Investments in Unconsolidated Affiliates HTML 73K
and Variable Interest Entities (Details)
75: R99 Note 21 - Investments in Unconsolidated Affiliates HTML 53K
and Variable Interest Entities (Details) -
Reconciliation between Company's Share of the
Underlying Equity of PAL and Its Investment
56: R100 Note 21 - Investments in Unconsolidated Affiliates HTML 43K
and Variable Interest Entities (Details) - Raw
Material Purchases Under Supply Agreement
134: R101 Note 21 - Investments in Unconsolidated Affiliates HTML 68K
and Variable Interest Entities (Details) -
Unaudited, Condensed Balance Sheet Information for
Unconsolidated Affiliates
109: R102 Note 21 - Investments in Unconsolidated Affiliates HTML 70K
and Variable Interest Entities (Details) -
Unaudited, Condensed Income Statement Information
for Unconsolidated Affiliates
87: R103 Note 22 - Commitments and Contingencies (Details) HTML 42K
23: R104 Note 23 - Related Party Transactions (Details) HTML 60K
119: R105 Note 23 - Related Party Transactions (Details) - HTML 53K
Related Party Receivables And Payables
127: R106 Note 23 - Related Party Transactions (Details) - HTML 52K
Related Party Transactions
121: R107 Note 24 - Business Segment Information (Details) HTML 45K
83: R108 Note 24 - Business Segment Information (Details) - HTML 69K
Selected Financial Information For Polyester,
Nylon And International Segments
30: R109 Note 24 - Business Segment Information (Details) - HTML 70K
Reconciliations From Segment Operating Profit To
Consolidated Income Before Income Taxes
102: R110 Note 24 - Business Segment Information (Details) - HTML 69K
Reconciliation Of Other Significant Reconciling
Items From Segments To Consolidated
46: R111 Note 24 - Business Segment Information (Details) - HTML 57K
Reconciliation Of Segment Total Assets To
Consolidated Total Assets
16: R112 Note 24 - Business Segment Information (Details) - HTML 45K
Geographic Information For Net Sales
71: R113 Note 24 - Business Segment Information (Details) - HTML 44K
Geographic Information For Long-lived Assets
64: R114 Note 24 - Business Segment Information (Details) - HTML 45K
Geographic Information For Total Assets
115: R115 Note 26 - Supplemental Cash Flow Information HTML 54K
(Details)
50: R116 Note 26 - Supplemental Cash Flow Information HTML 43K
(Details) - Cash Payments For Interest And Taxes
130: XML IDEA XML File -- Filing Summary XML 208K
19: EXCEL IDEA Workbook of Financial Reports XLSX 283K
52: EXCEL IDEA Workbook of Financial Reports (.xls) XLS 3.78M
9: EX-101.INS XBRL Instance -- ufi-20131229 XML 4.24M
11: EX-101.CAL XBRL Calculations -- ufi-20131229_cal XML 173K
12: EX-101.DEF XBRL Definitions -- ufi-20131229_def XML 1.30M
13: EX-101.LAB XBRL Labels -- ufi-20131229_lab XML 1.83M
14: EX-101.PRE XBRL Presentations -- ufi-20131229_pre XML 1.25M
10: EX-101.SCH XBRL Schema -- ufi-20131229 XSD 349K
40: ZIP XBRL Zipped Folder -- 0001437749-14-001695-xbrl Zip 318K
Exhibit 10.3
[FORM OF RSU AGREEMENT FOR EMPLOYEES]
RESTRICTED STOCK UNIT AGREEMENT
This Restricted Stock Unit Agreement (this “Agreement”) is made by and between Unifi, Inc., a New York corporation (the “Company”), and ______________________, a key employee (the “Grantee”) of the Company.
WITNESSETH:
WHEREAS, the Company has adopted the Unifi, Inc. 2013 Incentive Compensation Plan (the “Plan”), which became effective on October 23, 2013; and
WHEREAS, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of the Company has determined that it is desirable and in the best interests of the Company to grant to the Grantee restricted stock units (“RSUs”) as an incentive for the Grantee to advance the interests of the Company;
NOW, THEREFORE, the parties agree as follows:
Section 1. Incorporation of Plan. The Plan is incorporated by reference and made a part of this Agreement, and this Agreement shall be subject to the terms of the Plan, as the Plan may be amended from time to time, provided that any such amendment of the Plan must be made in accordance with Section 15 of the Plan. Unless otherwise defined herein, capitalized terms used in this Agreement shall have the meanings ascribed to them in the Plan.
Section 2. Grant of RSU; Notice of Grant. Pursuant to the Plan and subject to the terms and conditions set forth herein and therein, the Company has granted to the “Grantee,” and effective as of the “Grant Date,” a certain number of RSUs, all as set forth on the Notice of Grant attached hereto as Annex A, which Notice of Grant is incorporated by reference herein.
Section 3. Terms of Restricted Stock Units. The RSUs granted under this Agreement are subject to the following terms, conditions and restrictions:
(a) No Ownership. The Grantee shall not possess any incidents of ownership (including, without limitation, dividend and voting rights) in shares of the Company Stock in respect of the RSUs until such RSUs have been converted into shares of Company Stock and such shares have been distributed to the Grantee in the form of shares of Company Stock.
(b) Transfer of RSUs. Except as provided in this Section 3(b), the RSUs and any interest therein may not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of, except by will or the laws of descent and distribution and subject to the conditions set forth in the Plan and this Agreement. Any attempt to transfer RSUs in contravention of this Section is void ab initio. RSUs shall not be subject to execution, attachment or other process.
(c) Vesting and Conversion of RSUs. If the Grantee remains in the continuous employment of the Company from the Date of Grant through the applicable “Vesting Date” listed below, the last of which is the “Final Vesting Date”, the corresponding percentage of the total number of RSUs awarded under this Agreement will become fully vested.
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Vesting Date |
Percentage of RSUs Vested |
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[DATE] |
33.33% |
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[DATE] |
33.33% |
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[DATE] |
33.34% |
There shall be no vesting of the RSUs to result in a fraction under this vesting schedule. If the vesting schedule would otherwise result in a fractional RSU, such RSU shall be rounded up to the next whole number, subject to the next sentence with respect to the Final Vesting Date. If the number of vested RSUs is rounded up on any Vesting Date prior to the Final Vesting Date, the number of RSUs in which the Grantee becomes vested on the Final Vesting Date shall be adjusted so that the total number of vested RSUs equals the number of RSUs set forth in the Notice of Grant. For example, if the Grantee was awarded 100 RSUs under this Agreement, the Grantee would become vested in 34, 34 and 32 RSUs on the respective Vesting Dates listed above.
On each Vesting Date, the vested RSUs shall be converted into an equivalent number of shares of Company Stock, and all such shares of Company Stock will be distributed to the Grantee within 30 days following the applicable Vesting Date, subject to following possible deferral election by the Grantee. The Grantee may irrevocably elect, on or before the “Deferral Election Date” indicated on Annex A, to instead receive distributions of shares of Company Stock upon the Grantee’s “separation from service” (as such term is defined in Section 409A and described in Section 7, a “Separation from Service”), in either a single distribution or substantially equal annual distributions over a period of up to five years following the Grantee’s Separation from Service. Such an election must be made by completing and submitting to the Company a Deferral Election Form in substantially the form included as part of Annex B hereto.
Upon any distribution of shares of Company Stock in respect of the RSUs, the Company shall (i) issue (or make available via electronic means) to the Grantee or the Grantee’s personal representative a stock certificate representing such shares of Company Stock, or (ii) cause such number of shares to be registered in the name of the Grantee or the Grantee’s personal representative via a book-entry or other share registry process that is effective to constitute the uncertificated delivery thereof, in either case free of any restrictions.
(d) Additional Vesting Provisions.
(i) If, prior to the Final Vesting Date, the Grantee dies or has a Separation from Service as a result of Disability, all RSUs shall become fully vested, converted into an equivalent number of shares of Company Stock and distributed to the Grantee in a single distribution within 30 days following the Grantee’s death or such Separation from Service, as the case may be, in either case without regard to any distribution deferral election.
(ii) If, thirteen months after the Grant Date and prior to the Final Vesting Date, the Grantee has a Separation from Service by the Company without Cause (as defined below), all remaining unvested RSUs shall become fully vested, and all RSUs shall be converted into an equivalent number of shares of Company Stock and distributed to the Grantee in a single distribution within 30 days following such Separation from Service, without regard to any distribution deferral election.
(iii) If, prior to the Final Vesting Date, Grantee has a Separation from Service for any reason not covered in Section 3(d)(i) or Section 3(d)(ii) above, then the Grantee shall forfeit any unvested RSUs and shall not be entitled to receive any shares of Company Stock under this Agreement with respect to such forfeited RSUs.
(iv) Notwithstanding the foregoing, the Grantee shall immediately forfeit all RSUs (whether or not vested) and any underlying shares of Company Stock for which distribution has been deferred pursuant to Section 3(c) upon the Grantee’s Separation from Service for Cause, whether before or after the Final Vesting Date.
(v) In the event of a Change in Control (as defined in the Plan), all RSUs shall become fully vested, be converted into shares of Company Stock and be immediately distributed to the Grantee in a single distribution within 30 days following the Change in Control, without regard to any distribution deferral election.
(vi) For purposes of this Agreement, “Cause” means any of the following, as determined in good faith by the Committee: (A) an act of embezzlement, theft or misappropriation by the Grantee of any property of the Company or any Related Company; (B) any breach by the Grantee of any material provision of any material agreement to which the Grantee is a party with the Company or any Related Company that is not cured, to the extent the breach is susceptible to being cured, within fourteen (14) days after the Company gives express notice to the Grantee describing such breach; (C) gross negligence by the Grantee in the discharge of his or her lawful duties to the Company or any Related Company (after receiving express notice from the Company specifying the manner in which he or she is alleged to have been grossly negligent and having had the opportunity to cure the same within thirty (30) days from receipt of such notice); (D) any act by the Grantee constituting a felony or a crime that otherwise involves dishonesty or misrepresentation; (E) the Grantee’s breach of any fiduciary duty, under applicable law, to the Company or any Related Company, regardless of whether such conduct constitutes gross negligence; or (F) any chemical or alcohol dependence by the Grantee that materially and adversely affects the performance of his or her duties or responsibilities to the Company or any Related Company.
Section 4. Equitable Adjustment. The aggregate number of shares of Company Stock subject to the RSUs shall be proportionately adjusted for any increase or decrease in the number of issued and outstanding shares of Company Stock resulting from a subdivision or consolidation of shares or other capital adjustment, or the payment of a stock dividend or other increase or decrease in such shares, effected without the receipt of consideration by the Company, or other change in corporate or capital structure. The Committee shall make the foregoing changes and any other changes, including changes in the classes of securities available, to the extent reasonably necessary or desirable to preserve the intended benefits under this Agreement in the event of any other reorganization, recapitalization, merger, consolidation, spin-off, extraordinary dividend or other distribution or similar transaction involving the Company.
Section 5. Taxes. Distributions with respect to RSUs may be subject to Applicable Withholding Taxes as provided in the Plan.
Section 6. No Right to Continued Employment. Nothing contained herein shall be deemed to confer upon the Grantee any right to continue in the employment of the Company.
Section 7. Section 409A.
(a) It is intended that this Agreement comply in all respects with the requirements of Section 409A of the Code and applicable Treasury Regulations and other generally applicable guidance issued thereunder (collectively, “Section 409A”), and this Agreement shall be interpreted for all purposes in accordance with this intent.
(b) Notwithstanding any other term or provision of this Agreement (including any term or provision of the Plan incorporated herein by reference), the parties hereto agree that, from time to time, the Company may, without prior notice to or consent of the Grantee, amend this Agreement to the extent determined by the Company, in the exercise of its discretion in good faith, to be necessary or advisable to prevent the inclusion in the Grantee’s gross income pursuant to the applicable Treasury Regulations of any compensation intended to be deferred hereunder. The Company shall notify the Grantee as soon as reasonably practicable of any such amendment affecting the Grantee.
(c) If the amounts payable under this Agreement are subject to any taxes, penalties or interest under Section 409A, the Grantee shall be solely liable for the payment of any such taxes, penalties or interest.
(d) Except as otherwise specifically provided herein, the time and method for payment of the RSUs as provided in Section 3 and the Deferral Election Form shall not be accelerated or delayed for any reason, unless to the extent necessary to comply with, or as may be permitted under, Section 409A.
(e) If the Grantee is deemed on the date of a Separation from Service to be a “specified employee” (within the meaning of that term under Section 409A(a)(2)(B) of the Code and determined using any identification methodology and procedure selected by the Company from time to time, or the default methodology and procedure specified under Code Section 409A, if none has been selected by the Company), then with regard to any payment or the provision of any benefit that is “nonqualified deferred compensation” within the meaning of Section 409A and that is paid as a result of the Grantee’s Separation from Service, such payment or benefit shall not be made or provided prior to the date that is the earlier of (i) the expiration of the six (6)-month period measured from the date of such Separation from Service of the Grantee, and (ii) the date of the Grantee’s death (the “Delay Period”). Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this provision (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to the Grantee in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. For purposes of Section 409A, a distribution of shares of Company Stock following conversion of an RSU shall constitute a “payment” thereof.
Section 8. Recoupment of RSUs/Shares of Stock. Notwithstanding any provision in the Plan or this Agreement to the contrary, all RSUs and underlying shares of Company Stock awarded pursuant to this Agreement shall be subject to recoupment by the Company pursuant to the Company’s Compensation Recoupment Policy, as it may be amended from time to time (or any successor policy thereto) (the “Recoupment Policy”). The terms of the Recoupment Policy are hereby incorporated by reference into this Agreement.
Section 9. General Matters.
(a) Heirs and Successors. This Agreement shall be binding upon, and inure to the benefit of, the Company and its successors and assigns, and upon any person acquiring, whether by merger, consolidation, purchase of assets or otherwise, all or substantially all of the Company’s assets and business. Subject to the terms of the Plan, any benefits distributable to the Grantee under this Agreement that are not distributed at the time of the Grantee’s death shall be distributed, at the time and in the form determined in accordance with the provisions of this Agreement and the Plan, to the beneficiary designated by the Grantee in writing filed with the Company in such form and at such time as the Committee shall require. If a deceased Grantee failed to designate a beneficiary, or if the designated beneficiary of the deceased Grantee dies before the Grantee or before complete distribution of the benefits due under this Agreement, the amounts to be distributed under this Agreement shall be distributed to the legal representative or representatives of the estate of the last to die of the Grantee and any designated beneficiary.
(b) Amendments by the Committee. The Committee may, at any time prior to the Final Vesting Date, amend this Agreement, provided that no amendment may, in the absence of written consent by the Grantee, adversely affect the rights of the Grantee under this Agreement prior to the date of such amendment.
(c) Administration. The authority to manage and control the operation and administration of this Agreement has been vested in the Committee, and the Committee shall have all powers with respect to this Agreement that it has with respect to the Plan. Any interpretation of the Agreement by the Committee, and any decision made by it with respect to the Agreement, are final and binding.
(d) Governing Law. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of North Carolina without reference to principles of conflict of laws.
(e) Resolution of Disputes. Any disputes arising under or in connection with this Agreement shall be resolved by binding arbitration before a single arbitrator, to be held in North Carolina in accordance with the commercial rules and procedures of the American Arbitration Association. Judgment upon the award by the arbitrator shall be final and subject to appeal only to the extent permitted by law. Each party shall bear such party’s own expenses incurred in connection with any arbitration; provided, however, that the cost of the arbitration to the Grantee, including, without limitation, reasonable attorneys’ fees of the Grantee, shall be borne by the Company if the Grantee is the prevailing party in the arbitration. Anything to the contrary notwithstanding, each party hereto has the right to proceed with a court action for injunctive relief or relief from violations of law not within the jurisdiction of an arbitrator. If any costs of the arbitration borne by the Company in accordance herewith would constitute compensation to the Grantee for Federal tax purposes, then (i) the amount of any such costs reimbursed to the Grantee in one taxable year shall not affect the amount of such costs reimbursable to the Grantee in any other taxable year, (ii) the Grantee’s right to reimbursement of any such costs shall not be subject to liquidation or exchange for any other benefit, and (iii) the reimbursement of any such costs incurred by the Grantee shall be made as soon as administratively practicable, but in any event within ten (10) days, after the date the Grantee is determined to be the prevailing party in the arbitration. The Grantee shall be responsible for submitting claims for reimbursement in a timely manner to enable payment within the timeframe provided herein.
(f) Notices. Any notice or other communication required or permitted under this Agreement, to be effective, shall be in writing and, unless otherwise expressly provided herein, shall be deemed to have been duly given (i) on the date delivered in person, (ii) on the date indicated on the return receipt if mailed postage prepaid, by certified or registered U.S. Mail, with return receipt requested, (iii) on the date transmitted by facsimile or e-mail, if sent by 5:00 P.M., Eastern Time, and confirmation of receipt thereof is reflected or obtained, or (iv) if sent by Federal Express, UPS or other nationally recognized overnight courier service or overnight express U.S. Mail, with service charges or postage prepaid, then on the next business day after delivery to the courier service or U.S. Mail (in time for and specifying next day delivery). In each case (except for personal delivery), any such notice or other communication shall be sent, as appropriate, (v) to the Grantee at the last address or facsimile number specified in the Grantee’s records with the Company, or such other address or facsimile number as the Grantee may designate in writing to the Company, or (vi) to the Company, Attention: General Counsel, at its corporate headquarters address or main facsimile number at such address or such other address as the Company may designate in writing to the Grantee.
(g) Failure to Enforce Not a Waiver. The failure of either party hereto to enforce at any time any provision of this Agreement shall in no way be construed to be a waiver of such provision or of any other provision hereof.
(h) Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be an original but all of which together shall represent one and the same agreement.
(i) Modifications; Entire Agreement; Headings. This Agreement cannot be changed or terminated orally. This Agreement and the Plan contain the entire agreement between the parties relating to the subject matter hereof. The section headings herein are intended for reference only and shall not affect the interpretation hereof.
IN WITNESS WHEREOF, the parties have executed this Agreement, including the Notice of Grant attached hereto as Annex A, effective as of the Grant Date set forth on Annex A.
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By:_________________________________________ |
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Name:_______________________________________ |
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Title:________________________________________ |
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Annex A
NOTICE OF GRANT OF
RESTRICTED STOCK UNITS
The following employee of Unifi, Inc. has been granted Restricted Stock Units pursuant to the Unifi, Inc. 2013 Incentive Compensation Plan in accordance with terms as set forth in this Notice of Grant and the Restricted Stock Unit Agreement to which this Notice of Grant is attached.
The terms below shall have the following meanings when used in the Restricted Stock Unit Agreement.
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Address of Grantee
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Grant Date
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Deferral Election Date
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Aggregate Number of RSUs Granted
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Annex B
DEFERRAL ELECTION FORM AND INSTRUCTIONS
* * * INSTRUCTIONS * * *
You have been granted Restricted Stock Units (“RSUs”) pursuant to a the Restricted Stock Unit Award Agreement to which this Annex B is attached as a part thereof (the “Agreement”). Unless otherwise defined herein or in the attached Deferral Election Form, capitalized terms have the meanings given them in the Agreement, which also includes Annex A attached thereto.
Payment of RSUs is made in shares of Company Stock after the vesting of the RSUs as described in the Agreement. You are taxed at ordinary income rates on the value of the shares of Company Stock at the time of such payment, which is the time that shares are distributed to you pursuant to the Agreement. Following such a distribution, you can sell some or all the shares at any time, subject to any applicable securities law restrictions. Or, in connection with a distribution, you can choose to have the Company withhold an appropriate number of the shares to satisfy your tax obligation.
As a general rule, your vested RSUs under the Agreement will be converted to shares of Company Stock that will be distributed to you in a single distribution within 30 days following the applicable Vesting Date. However, under Section 3(c) of the Agreement, you may elect instead to defer receipt of such shares of Company Stock until your Separation from Service, and then have the shares distributed to you in either a single distribution or substantially equal annual distributions over a period of up to five years following your Separation from Service. Such an election must be made by completing and submitting to the Company, the attached Deferral Election Form on or before the Deferral Election Date.
However, if you become vested in your RSUs prior to a Vesting Date due to certain Separation from Service events as described in Section 3(d) of this Agreement or a Change in Control of the Company, you will receive your shares of Company Stock in a single distribution within 30 days following the date of such event, regardless of any deferral election that you may have made.
There may be advantages and disadvantages to making a deferral election, depending on your individual situation and future events, including future tax rates. You should consider your particular tax and financial situation before making a deferral election. You are encouraged to consult your personal tax or financial planning advisor in making a decision.
For a Deferral Election to be effective,
you must complete and return the attached form
NO LATER THAN THE DEFERRAL ELECTION DATE
TO W. RANDY EADDY
UNIFI, INC. RESTRICTED STOCK UNITS
DEFERRAL ELECTION FORM
Name of Grantee: _________________________________
Complete the information below if you wish to receive your shares of Company Stock at a time and in a form other than a single distribution within 30 days following the applicable Vesting Date. All capitalized terms not defined herein have the meanings assigned to them in your [DATE] Restricted Stock Unit Agreement.
I hereby elect to receive distribution of my shares of Company Stock pursuant to my [DATE] Restricted Stock Unit Agreement, in payment of my vested RSUs thereunder, as follows (check and initial the one option being elected):
EITHER
___________ single distribution within 30 days following the date of my Separation from Service
OR
___________ ____ (maximum of 5) equal annual installment distributions, commencing within 30 days following my Separation from Service for the first installment and with each subsequent distribution on the respective anniversary dates of my Separation from Service.
I understand and acknowledge that:
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If I become vested in all or a portion of my RSUs prior to the applicable Vesting Date due to certain events as described in Section 3(d) of my Restricted Stock Units Agreement or a Change in Control of the Company, my shares of Company Stock will be distributed to me in a single distribution within 30 days following the date of such event. |
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My deferrals will be subject to all requirements of Section 409A of the Internal Revenue Code and provisions of the Plan as amended to comply with Section 409A. |
I understand that this election is irrevocable. I also understand that I am making this election in accordance with the terms of the Plan and that the terms of the Plan will be used to resolve any ambiguity or inconsistency that may arise in connection with this election.
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| This ‘10-Q’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed on: | 2/7/14 | 4 | ||
| For Period end: | 12/29/13 | |||
| 10/23/13 | 4, 8-K, 8-K/A, DEF 14A, S-8 | |||
| List all Filings | ||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 8/25/23 Unifi Inc. 10-K 7/02/23 156:25M Donnelley … Solutions/FA 8/31/22 Unifi Inc. 10-K 7/03/22 156:23M ActiveDisclosure/FA 8/25/21 Unifi Inc. 10-K 6/27/21 159:25M ActiveDisclosure/FA 8/26/20 Unifi Inc. 10-K 6/28/20 160:23M ActiveDisclosure/FA |