Form of Award Letter, Tower Automotive, LLC Special Incentive Program



 Exhibit 10.36 

 

			
	



	  	 17672 N. Laurel Park Drive

Suite 400E
 Livonia,
MI 48152


 [Date] 

[Name] 
 [Address] 

 

	 	Re:	Tower Automotive, LLC Special Incentive Program 


Dear [Name]: 
 I am pleased to
announce that you have been selected to participate in this new cash bonus program established by the Board of Managers of Tower Automotive, LLC (“Tower”). As an employee of Tower, or one of its affiliates, you may earn a one-time
cash bonus upon the occurrence of a Qualifying Event (as defined below) of Tower. The terms of the one-time cash bonus are described in this letter. 

Eligibility 
 If Tower
consummates a Qualifying Event and you meet the eligibility requirements described below, Tower will pay you a special one-time cash bonus in an amount of $[—] following the consummation of the
Qualifying Event. 
 You will be eligible to receive the cash bonus described in this letter if you remain employed by Tower or
one of its affiliates through the consummation of the Qualifying Event. You are not eligible for any portion of the cash bonus if you cease to be employed by Tower or any of its affiliates for any reason prior to the consummation of the Qualifying
Event, including by reason of retirement, resignation, death, disability or involuntary termination. 
 Qualifying Event 

A “Qualifying Event” will have occurred if Tower either (i) converts to corporate form and consummates an initial
public offering of shares of common stock to the public in an underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended or (ii) repays its existing First Lien Senior Indebtedness
in full. 
 The Board of Managers shall determine whether a Qualifying Event has occurred in its reasonable discretion.










			
	



	  	 17672 N. Laurel Park Drive

Suite 400E
 Livonia,
MI 48152


  

 Payment Mechanics 

The cash bonus will be payable to eligible recipients as a lump sum within thirty (30) days of the consummation of the Qualifying
Event. In no event may you designate the calendar year of payment. 
 Other Information About Your Cash Bonus 

Your cash bonus will not be considered in calculating your eligibility for (or the amount of) any other compensation or benefits,
including, without limitation, bonuses, disability, life insurance, retirement benefits or contributions, severance or any other benefit or coverage. 

This letter does not create a vested right to a cash bonus and nothing in this letter or any other communication, verbal or written, may
be interpreted as a guarantee of a cash bonus, any bonus or other payment whatsoever to any person. 

*        *        * 

Please confirm your acceptance of the foregoing terms of this program by executing this letter in the place provided below. Please return
this letter with your original signature to Bill Cook by April 15, 2010 and retain a copy for your records. 
 Any amount
payable to you pursuant to this letter will be subject to applicable tax withholdings. Tower reserves the right to condition any payment pursuant to this letter upon your execution of a general release of any all claims against the Tower, and its
respective members, shareholders, directors, officers and affiliates. 
 This letter shall be construed under the laws of the
State of Delaware, without regard to conflict of laws principles. 
 If you have any questions concerning the bonus opportunity
presented by this letter, please contact me. 
 Regards, 

  
  

Mark Malcolm, 
 President & CEO

  

							
	  
 Your Signature
	  		  		  	  

Date