Exhibit 10.1


 


HOUSTON WIRE & CABLE COMPANY

2006 STOCK PLAN

(As Amended and Restated Effective March 1, 2015)


 


RESTRICTED STOCK UNIT AWARD AGREEMENT

FOR NON-EMPLOYEE DIRECTORS


 


A Restricted Stock Unit
(“RSU”) Award (the “Award”) is hereby granted by Houston Wire & Cable Company, a Delaware corporation
(the “Company”), to the non-employee Director named below (the “Grantee”), relating to the Common Stock
of the Company:


 


Director:

Date of Award:

Number of RSUs Subject to Award:


End of Vesting Period:


 


The Award shall be subject
to the following terms and conditions and the provisions of the Houston Wire & Cable Company 2006 Stock Plan, as amended and
restated effective March 1, 2015 (the “Plan”), a copy of which is attached hereto and the terms of which
are hereby incorporated by reference:


 


1.          Grant
of RSUs. The Company hereby grants to the Grantee the Award of RSUs. An RSU is the right, subject to the terms and conditions
of the Plan and this Agreement, to receive a distribution of a share of Common Stock for each RSU as described in Section 6 of
this Agreement.


 


2.          Acceptance
by Grantee. The receipt of the Award is conditioned upon its acceptance by the Grantee in the space provided therefor at the
end of this Agreement and the return of an executed copy of this Agreement to the Secretary of the Company no later than _______________.
If the Grantee shall fail to return this executed Agreement by the due date, the Grantee’s Award shall be forfeited to the
Company.


 


3.          RSU
Account. The Company shall maintain an account (“RSU Account”) on its books in the name of the Grantee which shall
reflect the number of RSUs awarded to the Grantee and any dividend equivalents paid to the Grantee as described in Section 4.


 


4.          Dividend
Equivalents. Upon the payment of any dividends on Common Stock occurring during the period beginning on the date of the Award
and ending on the date the RSUs are settled in Common Stock and distributed to the Grantee as described in Section 6 (or if earlier,
the date the RSUs are forfeited), the Company shall credit the Grantee’s RSU Account with an amount equal in value to the
dividends that the Grantee would have received had the Grantee been the actual owner of the number of shares of Common Stock represented
by the RSUs in the Grantee’s RSU Account on that date. Such amounts shall be paid to the Grantee in cash at the time and
to the extent the RSU Account is distributed to the Grantee. Any dividend equivalents relating to RSUs that are forfeited shall
also be forfeited.


 




    	 



    	 



    

 


5.          Vesting.


 


(a)          Except
as described in (b) and (c) below, the Grantee shall become vested in his Award on the date of the Company’s ____ Annual
Meeting of Stockholders if he remains in continuous service on the Board until such date.


 


(b)          If
the Grantee’s service on the Board terminates prior to the date of the Company’s ____ Annual Meeting of Stockholders
due to death or disability, the Award shall become vested on the date of such death or disability. For this purpose “disability”
means (as determined by the Committee in its sole discretion) the inability of the Grantee to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment which is expected to result in death or disability
or which has lasted or can be expected to last for a continuous period of not less than 12 months.


 


(c)          The
Award shall be forfeited to the Company upon the Grantee’s termination of service on the Board for any reason other than
the Grantee’s death or disability (as described in Section 3(b) above) that occurs prior to the date the RSUs vest as provided
in Section 3(a) above.


 


6.          Settlement
of Award. Within 30 days following the date of the Grantee’s termination of service on the Board, the Company shall distribute
to him, or his personal representative, beneficiary or estate, as applicable, (a) a number of shares of Common Stock equal to the
number of vested RSUs subject to the Award and held in his RSU Account, and (b) a cash payment equal to the dividend equivalents
credited to his RSU Account attributable to such vested RSUs.


 


7.          Change
in Control. Notwithstanding the foregoing provisions of the Agreement:


 


(a)          Upon
a Change in Control of the Company where the Award is not assumed or continued, (i) the Grantee shall become vested in any then
unvested Award and (ii) the Company shall immediately distribute to the Grantee his RSU Account as described in Section 6(a) and
(b); provided, however, that if the Change in Control does not constitute a “change in control” as described in Treas.
Reg. §1.409A-3(i)(5), then distribution of the RSU Account shall be deferred until the date of the Grantee’s termination
of service on the Board.


 


(b)          If
any Award is assumed or continued after a Change in Control of the Company, the vesting provisions of Section 5 shall continue
in effect, provided that if the Grantee’s service on the Board terminates on or after the Change in Control, (i) the Grantee
shall become vested in any then unvested Award and (ii) the Company shall immediately distribute to the Grantee his RSU Account
as described in Section 6(a) and (b).


 


8.          Rights
as Stockholder. The Grantee shall not be entitled to any of the rights of a stockholder of the Company with respect to the
Award, including the right to vote and to receive dividends and other distributions, until and to the extent the Award is settled
in shares of Common Stock.


 




    	2



    	 



    

 


9.          Award
Not Transferable. The Award may not be transferred other than by will or the applicable laws of descent or distribution or
pursuant to a qualified domestic relations order. The Award shall not otherwise be assigned, transferred, or pledged for any purpose
whatsoever and is not subject, in whole or in part, to attachment, execution or levy of any kind. Any attempted assignment, transfer,
pledge, or encumbrance of the Award, other than in accordance with its terms, shall be void and of no effect.


 


10.         Share
Delivery. Delivery of the shares of Common Stock subject to the Award will be by book-entry credit to an account in the Grantee’s
name established by the Company with the Company’s transfer agent; provided that the Company shall, upon written request
from the Grantee (or his estate or personal representative, as the case may be), issue certificates in the name of the Grantee
(or his estate or personal representative) representing such Award shares.


 


11.         Administration.
The Award shall be administered in accordance with such regulations as the Committee shall from time to time adopt.


 


12.         Plan
Governs. If there is any inconsistency between the terms of this Agreement and the terms of the Plan, the Plan’s terms
shall govern. All capitalized terms shall have the meanings ascribed to them in the Plan, unless specifically set forth otherwise
herein.


 


13.         Governing
Law. This Agreement, and the Award, shall be construed, administered and governed in all respects under and by the laws of
the State of Delaware.


 


IN WITNESS WHEREOF, this
Agreement is executed by the Company this __th day of ________, _____, effective as of the ___day of ________, _____.


 


	 	HOUSTON WIRE & CABLE COMPANY
	 	 	 
	 	By:	 


 


AGREED AND ACCEPTED:


 


I acknowledge receipt of
the Houston Wire & Cable Company 2006 Stock Plan, as amended and restated effective March 1, 2015 (the “Plan”)
and hereby accept this Restricted Stock Unit Award subject to all the terms and conditions thereof. I agree to accept as binding,
conclusive and final all decisions and interpretations of the Committee regarding any questions arising under the Plan or this
Award Agreement.


 


GRANTEE


 


	Print Name:	 	 
	 	 	 
	Signature:	 	 
	 	 	 
	Date:	 	 


 




    	3