Incentive Compensation Plan



 Exhibit 10.10 

GLOBAL POWER EQUIPMENT GROUP INC. 

Braden Manufacturing, Deltak Specialty Boiler Systems, Williams Industrial Services Group 

Incentive Compensation Plan Description 

Purpose 
 The Compensation
Committee (the “Committee”) of the Board of Directors of Global Power Equipment Group Inc. (the “Company”) has approved this Incentive Compensation Plan (the “Plan”) to reward employees for enhancing the value of the
Company. The purpose of the Plan is to motivate employees to increase the value of the Company, and, when appropriate and possible, to encourage them to think and act like stakeholders of the Company. 

The Plan will reward the Participants based upon (i) achievement against a Financial Performance Metric set forth by the Committee and
(ii) achievement of determined personal and departmental goals approved by each employee’s supervisor. 
 The Plan Year will coincide
with the fiscal year of the Company. Awards made under the Plan are in addition to Base Salary and Base Salary adjustments to maintain market competitiveness. 

The Committee reserves the right to amend, modify or revoke the Plan at its discretion, without prior notice to Participants; provided, however, any
amendments, modifications or revocations shall not be retroactive as to Awards granted in prior Plan Years. This is a discretionary program and no contractual right or property interest to any benefit described herein is intended to be created by
this document or any related action of the Company, and none should be inferred from the descriptions of the Plan. 
 Definitions 

 Award – Cash awarded to a Participant under the Plan, net of all required federal and state withholding taxes, due
to Corporate or Business Unit performance and results. 
 Base Salary – The aggregate amount of wages and/or salary
(but excluding any bonus, disability pay or severance pay) earned by a Participant during the applicable Plan Year in which the Participant was eligible to participate in the Plan. 

Business Unit – Refers to any particular business unit of the Company. 

Corporate – Refers to the Company and its Business Units in the aggregate. 







 Disability – The same meaning as such term or similar term as defined in the
disability insurance policy maintained by the Company which covers the Participant at the time of the alleged disability, or in the event the Company maintains more than one disability insurance policy which covers the Participant at such time, the
meaning in the disability policy most recently acquired by the Company. If the Company maintains no such disability insurance policy at such time, “Disability” shall mean a mental or physical impairment or illness, which, in the judgment
of the Chief Executive Officer of the Company, totally and presumably permanently prevents the individual from fully completing his normal job responsibilities for the Company. 

Maximum Annual Incentive % – A maximum value of annual incentive expressed as a percentage of a Participant’s Base
Salary. This value is equal to two times the Target Annual Incentive %. 
 Participant – Any person designated by
Business Unit Presidents and approved by the Global Power CEO or Human Resources Director. 
 Payout and Payout Date
– Is deemed to occur at the end of a Plan Year. Actual payout will be as soon as practicable after completion of audited financial statements for the Plan Year. 

Financial Performance Metric – Critical financial criteria against which the Committee decides to measure performance.

 Currently EBITDA is the Financial Performance Metric: 

EBITDA – Net income or (loss) for any period plus (a) the following to the extent deducted in calculating net income for
such period: (i) interest charges for such period; (ii) the provision for federal, state, local and foreign income taxes for such period; (iii) depreciation and amortization expense; (iv) letter of credit fees; (v) incentive
bonuses paid under the Plan and all other Incentive Plans; (vi) other costs related to the Chapter 11 cases filed by the Company and its Business Units; (vii) other non-recurring, non-cash expenses; and (viii) any other non-cash
write-downs or non-cash write-offs including fixed asset impairment or write-downs, intangible asset impairments, deferred tax asset write-offs and non-cash stock component expenses; and minus (b) the following, to the extent included in
calculating such net income: (i) federal, state, local and foreign income tax benefits recorded by the Company for such period; and (ii) all extraordinary, non-recurring, non-cash items increasing net income for such period. 

 

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 The Committee has the right to amend or change the Financial Performance Metrics at its
discretion, including amendments or changes in light of unforeseen events. 
 Performance Metric Hurdles – An
assigned threshold, target and maximum value that corresponds with each individual Financial Performance Metric against which performance is measured. 

Plan – Incentive Compensation Plan (“ICP”) as set forth in this document and as amended by the Committee from time
to time. 
 Plan Year – The fiscal year of the Company. 

Target Annual Incentive % – A target value of annual incentive expressed as a percentage of a Participant’s Base Salary
determined by the Committee prior to, or as soon as practicable after, the beginning of each Plan Year. 
 Threshold Annual
Incentive % – A threshold value of annual incentive expressed as a percentage of a Participant’s Base Salary. This value corresponds to the minimum performance criteria to receive any Payout under the Plan. This value is equal to
one-half the Target Annual Incentive %. 
 Administration 

The guidelines and procedures set forth herein will be followed by the management of the Company at the direction of the Compensation Committee with
respect to operation of the Plan. 
 Participation/Eligibility 

All employees of the Company (including its Business Units) are eligible to participate in the Plan (except certain employee groups already under another
incentive plan) as designated by the BU Presidents and approved by the Global Power CEO or Human Resources Director. 
 Each
Participant, whose employment is terminated due to death or Disability during a Plan Year, shall be eligible for an Award based upon the Base Salary earned by such Participant prior to termination. Such Award shall be paid in a lump sum on or before
March 15th of the year after such employment
termination due to death or Disability. Otherwise, no Participant shall be eligible to receive part or all of an Award unless the Participant is employed by the Company on the date Awards are paid under the Plan. 

 

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 Timing of Award Payments 

After the year-end internal financial statements have been audited for a Plan Year, the Awards generated, if any, will be determined. Participant must be
employed on the Payout Date or the Award will be forfeited, except in cases of death or Disability provided for above. 
 Award
Determination 
 The Awards for each Plan Year shall be calculated based on the Company’s or designated Business Unit’s actual
financial performance, per the audited internal financial statements, as compared to threshold, target and maximum Performance Metric Hurdle levels for the Financial Performance Metrics, determined for that Plan Year by the Committee for that
respective unit of the Company. The Participants will be granted a percentage of their calculated Incentive Award based on the results of their Financial Performance Metric, as established by the Committee and a percentage based upon achievement of
the employee’s personal goals. The total pool of overall Award dollars shall remain the same as originally calculated based on Financial Metric Performance regardless of whether employees achieve 100% of financial metrics and personal goals.

 Duration of Plan 
 The
Plan is an integral part of the Company’s compensation plan for the future. The Committee reserves the power and the right at any time, and from time to time, to modify, amend or terminate (in whole or in part) any or all of the provisions of
the Plan; provided, however, that no such modification or amendment shall be retroactive to reduce or affect any Awards otherwise due and payable under the provisions of the Plan for any Plan Year during which the Plan was in effect. 

Termination of Plan 
 The
incentive computation for the year in which the termination of the Plan occurs will be based on the period ending on the last business day immediately prior to the effective date of the Plan termination. All performance calculations will be adjusted
to coincide with such period. 
  

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 Additional Plan Provisions 

 

	•	 	 Nothing in the Plan shall be construed or interpreted as giving any employee the right to be employed or retained by the Company or impair the right of
the Company to control its employees or to terminate the services of any employee at any time. The Plan shall not create any rights of future participation herein. 



 

	•	 	 The Company shall deduct all required federal tax and any required state tax withholding from the Awards. 



 

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