Restricted Shares Unit Contract (Shares-Settled) (Public Company) (Non-Employee Directors)

The Restricted Shares Unit Contract (Shares-Settled) (Public Company) (Non-Employee Directors) is a legal template that outlines an agreement between a public company and its non-employee directors regarding the issuance of restricted shares units (RSUs).

RSUs are a form of equity compensation granted to non-employee directors as a means to incentivize their continued service and align their interests with that of the company's shareholders. This contract sets out the terms and conditions under which these RSUs are granted and vested.

The template includes several key provisions that cover various aspects of the RSU grant. These provisions may include the number of RSUs to be granted, the vesting schedule, and any performance-based or time-based conditions that must be met for the RSUs to fully vest. It also outlines the settlement process for these RSUs, which may involve the delivery of shares of the company's stock or the equivalent cash value.

Furthermore, the template addresses other important aspects such as rights and restrictions on the RSUs, including any limitations on transferability or rights to dividends and voting. It may also include provisions regarding the treatment of RSUs upon certain events, such as a change of control or the termination of the director's position.

Overall, this legal template provides a standardized framework for the issuance and administration of RSUs to non-employee directors in a public company. It ensures clarity and fairness for both parties involved and helps maintain transparency and compliance with applicable laws and regulations governing equity-based compensation.