Exhibit 10.31
Global Partners LP
2018 Long-Term Cash Incentive Plan
Award Agreement (with Confidentiality, Non-Solicitation & Non-Competition Agreement) (Form for Colorado Employees)
Grantee: [GRANTEE] (the “Grantee” or “you”)
Grant Date: [DATE] (the “Grant Date”)
| Vesting Date | | Vested Percentage | |
| | | | |
| | | | |
Except as otherwise provided in this Agreement or the Plan, on the date you cease providing services to the Company or its Affiliates, any unvested portion of the Award shall automatically terminate and cease to be outstanding but the remainder of the Agreement shall continue in full force and effect.
[Signature Page Follows]
IN WITNESS WHEREOF, the Company and the Grantee each have caused this Agreement to be executed and effective as of the Grant Date.
GLOBAL GP LLC
By: _____________________________________
Name:
Title:
By: _____________________________________
Name:
Title:
GRANTEE
_____________________________________
Name:
Title:
EXHIBIT A
CONFIDENTIALITY, NON-SOLICITATION AND NON-COMPETITION AGREEMENT
This Confidentiality, Non-Solicitation and Non-Competition Agreement (this “Agreement”) is executed and agreed to on [Date and Year] by and between [__________] (“Employee”), an individual, and Global GP LLC, together with any successor or assign (the “Company”). Employee’s obligations under this Agreement survive the termination of Employee’s employment with the Company or any Affiliate regardless of the reason for such termination. As a condition of the Company’s entry into the Long-Term Cash Incentive Plan Award Agreement (the “Award Agreement”) to which this Agreement is attached, and as a condition of Employee’s receipt of any benefit set forth in the Award Agreement, Employee knowingly and voluntarily enters into this Agreement.
Further, in the event Employee files a lawsuit for retaliation by the Company or any of its Affiliates for Employee’s reporting of a suspected violation of law, Employee may (i) disclose a trade secret to Employee’s attorney and (ii) use the trade secret information in the court proceeding related to such lawsuit, in each case, if Employee (x) files any document containing such trade secret under seal; and (y) does not otherwise disclose such trade secret, except pursuant to court order.
11.Entire Agreement. This Agreement (including the Award Agreement to which it is attached and, as referenced herein, the Arbitration Agreement) represents the entire agreement between the parties regarding the subject matter herein. Notwithstanding the foregoing, this Agreement is in addition to, and shall complement (and not supersede or replace) any other agreement between Employee and the Company or any of its Affiliates that creates obligations for Employee with respect to confidentiality, non-disclosure, or non-solicitation (whether such obligation arises by contract, statute or common law); provided, however, this Agreement shall supersede and replace any agreement between Employee and the
Company or any of its Affiliates solely to the extent such agreement creates obligations for Employee with respect to non-competition, or rights with respect to non-competition, or rights with respect to any garden leave payments in connection with such obligations.
I HAVE READ THIS AGREEMENT CAREFULLY, AND I UNDERSTAND AND ACCEPT THE OBLIGATIONS THAT IT IMPOSES UPON ME WITHOUT RESERVATION. I SIGN THIS AGREEMENT VOLUNTARILY AND FREELY.
GLOBAL GP LLC
By: _____________________________________
Name:
Title:
By: _____________________________________
Name:
Title:
EMPLOYEE
_____________________________________
Name:
Title:
NOTICE OF RESTRICTIVE COVENANTS – COLORADO EMPLOYEE
Global GP LLC, a Delaware limited liability company (the “Company”), hereby gives notice to [___________] (“Restricted Party”) that, as a condition of Restricted Party’s receipt of a cash incentive award awarded pursuant to the Global Partners LP 2018 Long-Term Cash Incentive Plan, Restricted Party shall be required to enter into certain non-competition and non-solicitation covenants (the “Restrictive Covenants”) contained in that certain Confidentiality, Non-Solicitation & Non-Competition Agreement by and between Restricted Party and the Company (the “Covenant Agreement”) attached to that certain 2018 Long-Term Cash Incentive Plan Award Agreement by and between Restricted Party and the Company, dated [Date and Year] (the “Award Agreement”).
By signing below, Restricted Party hereby acknowledges and agrees that:
| 1. | A copy of the Award Agreement (which includes the Covenant Agreement) has been provided to Restricted Party, and is provided to Restricted Party along with this notice; |
| 2. | Section 2(a) of the Covenant Agreement contains non-competition restrictions and Sections 2(c)-(d) of the Covenant Agreement contains non-solicitation restrictions. |
| 4. | If Restricted Party accepts the terms of the Award Agreement (including the Covenant Agreement), Restricted Party shall be doing so voluntarily (and Restricted Party has not been subjected to force, threats or other intimidation in connection therewith), and with Restricted Party’s full understanding and acceptance of the Award Agreement’s and the Covenant Agreement’s terms (including the terms of the Restrictive Covenants). |
Restricted Party acknowledges that this notice has been provided to Restricted Party at least 14 days before the earlier to occur of: (i) the effective date of the Restrictive Covenants, or (ii) the effective date of any additional compensation or change in the terms or conditions of employment that provided consideration for the Restrictive Covenants. Restricted Party further acknowledges and agrees that this notice is clear and conspicuous and that Restricted Party fully understands the Restrictive Covenants that Restricted Party is being asked to enter.
ACKNOWLEDGED AND AGREED BY RESTRICTED PARTY:
_______________________________
Signature
_______________________________
Name
_______________________________
Date