Document:

EX-10.4.4

 

EXHIBIT 10.4.4

AMENDED AND RESTATED

CHART INDUSTRIES, INC.

2005 STOCK INCENTIVE PLAN

PERFORMANCE UNIT AGREEMENT

     THIS
PERFORMANCE UNIT AGREEMENT (the “Agreement”), is entered into as of this ___ day
of                     , 2008 (the “Grant Date”), by and between Chart Industries, Inc., a Delaware
corporation (the “Company”), and                                          (the “Grantee”).

WITNESSETH:

     WHEREAS, the Compensation Committee of the Board of Directors of the Company (the
“Committee”) administers the Amended and Restated Chart Industries, Inc. 2005 Stock
Incentive Plan (the “Plan”); and

     WHEREAS, the Committee desires to provide the Grantee with Performance Units under the Plan
upon the terms and conditions set forth in this Agreement.

     NOW, THEREFORE, the Company and the Grantee agree as follows:

     1. Definitions. Unless the context otherwise indicates, the following words used
herein shall have the following meanings wherever used in this Agreement:

	 	a.	 	“Performance Period” means the period set forth in
Exhibit A.
	 
	 	b.	 	“Performance Requirements” means the performance
measures set forth in Exhibit A.
	 
	 	c.	 	“Performance Unit” means a unit representing the right
to receive a Share after completion of the Performance Period provided that the
Performance Requirements have been satisfied.
	 
	 	d.	 	“Retirement” (or variations thereof) means a voluntary
separation from service with the Company, its Subsidiaries and its Affiliates,
under circumstances indicative of retirement, after attaining age 60 and
completing 10 years of service with such entities.

Notwithstanding this Section, and unless otherwise specified in the Agreement, capitalized terms
shall have the meanings attributed to them under the Plan.

     2. Grant of Performance Units. As of the Grant Date, the Company grants to the
Grantee, upon the terms and conditions set forth in this Agreement,                      (___)
Performance Units. The Performance Units are granted in accordance with, and subject to, all

 

 

the terms, conditions and restrictions of the Plan, which is hereby incorporated by reference in
its entirety. In the event of a conflict between any term or provision contained herein and a term
or provision of the Plan, the applicable terms and provisions of the Plan will govern. The Grantee
irrevocably agrees to, and accepts, the terms, conditions and restrictions of the Plan and this
Agreement on his own behalf and on behalf of any beneficiaries, heirs, legatees, successors and
assigns.

     3. Restrictions on Transfer of Performance Units. The Grantee and his or her
beneficiaries, heirs, legatees, successors and assigns cannot sell, transfer, assign, pledge,
hypothecate or otherwise directly or indirectly dispose of the Performance Units (whether with or
without consideration and whether voluntarily or involuntarily or by operation of law) or any
interest therein.

     4. Termination of Employment.

	 	a.	 	Retirement, Death or Disability. If the Grantee
terminates Employment as a result of Retirement, death or Disability prior to
the last day of the Performance Period, the Grantee (or his or her beneficiary
or beneficiaries) shall be entitled to a pro-rated number of Shares or, if the
Committee so elects, the cash equivalent, calculated by multiplying (x) by (y)
where:

	 	(x)	 	is the number of Shares, if any, that would
have been earned by the Grantee as the result of the satisfaction of
the Performance Requirements; and
	 
	 	(y)	 	is the number of months that the Grantee was
employed (rounded up to the nearest whole number) during the
Performance Period divided by the number of months in the Performance
Period.

	 	 	 	The Committee shall determine in its sole and exclusive discretion whether
the Grantee’s Employment has terminated because of his or her Disability.
The distribution or payment of the pro-rated award shall occur (if at all)
at the same time as the distribution or payment specified in Section 6.
	 
	 	b.	 	Reasons Other Than Retirement, Death or Disability.
Except as otherwise provided in Section 5, if the Committee determines in its
sole and exclusive discretion that the Grantee’s Employment has terminated
prior to the end of the Performance Period for reasons other than those
described in Section 4(a) above, the Grantee will forfeit his or her
Performance Units. If the Performance Units are forfeited, the Grantee and all
persons who might claim through him or her will have no further interests under
this Agreement.

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     5. Change in Control. Upon a Change in Control prior to the end of the Performance
Period:

	 	a.	 	the Performance Requirements shall be deemed to have been
satisfied at the greater of either: (i) the target level of the Performance
Requirements as set forth on Exhibit A as if the entire Performance Period had
elapsed; or (ii) the level of actual achievement of the Performance
Requirements as of the date of the Change in Control; and
	 
	 	b.	 	the appropriate number of Shares, or, if the Committee so
elects, cash, determined in accordance with subsection (a) above shall be
issued or paid to the Grantee not later than 30 days after the date of the
Change in Control.

     6. Distributions. Within 60 days after satisfaction or deemed satisfaction of the
Performance Requirements:

	 	a.	 	with respect to Shares earned under Sections 4 or 5, the
Company will deliver to Grantee (or his or her beneficiary or beneficiaries)
certificates for the Shares to which Grantee is entitled, subject to any
applicable securities law restrictions or, if the Committee so elects, the cash
equivalent; and
	 
	 	b.	 	with respect to Shares otherwise earned under this Agreement,
the Company will issue to the Grantee the Shares to which Grantee is entitled,
subject to any applicable securities law restrictions or, if so elected, the
cash equivalent, and provided that the Grantee is in active Employment on the
last day of the Performance Period.

For purposes of this Section 6, “earned” Shares are those Shares to which the Grantee is entitled
based upon the Earned Performance Units (as described in Exhibit A) and the terms of Section 4 or
5, if applicable. For purposes of this Agreement, the cash equivalent of Shares is their Fair
Market Value on the date of payment. Upon payment of the cash equivalent of Shares, the recipient
and all persons who might claim through him or her shall have no remaining interest under this
Agreement.

     7. Dividend and Voting Rights. The Grantee will not have any voting rights or be
entitled to any dividends with respect to Performance Units unless and until the Performance
Requirements are timely satisfied, the Committee elects not to make payments in cash and Shares
have actually been issued to the Grantee. No dividends or dividend equivalents will be paid to the
Grantee based upon interests in the Performance Units during the Performance Period.

     8. Designation of Beneficiary. By properly executing and delivering a Designation of
Beneficiary Form to the Company, the Grantee may designate an individual or individuals as his or
her beneficiary or beneficiaries with respect to his or her interest under this Agreement. If

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the Grantee fails to properly designate a beneficiary, his or her interests under this Agreement
will pass to the person or persons in the first of the following classes (who shall be deemed a
beneficiary or beneficiaries) in which there are any survivors: (i) spouse at the time of death;
(ii) issue, per stirpes; (iii) parents; and (iv) the estate. Except as the Company may determine
in its sole and exclusive discretion, a properly completed Designation of Beneficiary Form shall be
deemed to revoke all prior designations with respect to this Agreement (or, if the form so
provides, the Plan) upon its receipt and approval by the designated representative of the Company.

     9. Non-Transferability of Shares; Legends. Upon the acquisition of any Shares
pursuant to this Agreement, if the Shares have not been registered under the Securities Act of
1933, as amended (the “Act”), they may not be sold, transferred or otherwise disposed of unless a
registration statement under the Act with respect to the Shares has become effective or unless the
Grantee establishes to the satisfaction of the Company that an exemption from such registration is
available. The Shares will bear a legend stating the substance of such restrictions, as well as
any other restrictions the Committee deems necessary or appropriate. In addition, the Grantee will
make or enter into such written representations, warranties and agreements as the Committee may
reasonably request in order to comply with applicable securities laws or this Agreement.

     10. Effect of Corporate Reorganization or Other Changes Affecting Number or Kind of
Shares. The provisions of this Agreement will be applicable to the performance units, Shares
or other securities, if any, which may be acquired by the Grantee related to the Performance Units
as a result of a liquidation, recapitalization, reorganization, redesignation or reclassification,
split-up, reverse split, merger, consolidation, dividend, combination or exchange of Performance
Units or Shares, exchange for other securities, a sale of all or substantially all assets or the
like. The Committee may appropriately adjust the number and kind of performance units or Shares
described in this Agreement to reflect such a change. Section 9 of the Plan shall control in the
event of any inconsistency between that section and this Section 10.

     11. Plan Administration. The Plan is administered by the Committee, which has sole
and exclusive power and discretion to interpret, administer, implement and construe the Plan and
this Agreement. All elections, notices and correspondence relating to the Plan should be directed
to the Secretary at:

Chart Industries, Inc.

One Infinity Corporate Centre, Suite 300

Garfield Heights, OH 44125

Attn.: Secretary

     12. Notices. Any notice relating to this Agreement intended for the Grantee will be
sent to the address appearing in the personnel records of the Company, its Affiliate or its
Subsidiary. Either party may designate a different address in writing to the other. Any notice
shall be deemed effective upon receipt by the addressee.

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     13. Termination of Agreement. This Agreement will terminate on the earliest of: (a)
the last day of the Performance Period if the Performance Requirements are not satisfied; (b) the
date of termination of the Grantee’s Employment for reasons referenced in Section 4(b) prior to the
last day of the Performance Period; or (c) the date that Shares are delivered to the Grantee (or
his or her beneficiary or beneficiaries) or the date of payment of the cash equivalent thereof to
the Grantee (or his or her beneficiary or beneficiaries). Any terms or conditions of this
Agreement that the Company determines are reasonably necessary to effectuate its purposes will
survive the termination of this Agreement.

     14. Successors and Legal Representatives. This Agreement will bind and inure to the
benefit of the Company and the Grantee and their respective heirs, beneficiaries, executors,
administrators, estates, successors, assigns and legal representatives.

     15. Integration. This Agreement, together with the Plan, constitutes the entire
agreement between the Grantee and the Company with respect to the subject matter hereof and may not
be modified, amended, renewed or terminated, nor may any term, condition or breach of any term or
condition be waived, except pursuant to the terms of the Plan or by a writing signed by the person
or persons sought to be bound by such modification, amendment, renewal, termination or waiver. Any
waiver of any term, condition or breach thereof will not be a waiver of any other term or condition
or of the same term or condition for the future, or of any subsequent breach.

     16. Separability. In the event of the invalidity of any part or provision of this
Agreement, such invalidity will not affect the enforceability of any other part or provision of
this Agreement.

     17. Incapacity. If the Committee determines that the Grantee is incompetent by reason
of physical or mental disability or a person incapable of handling his or her property, the
Committee may deal directly with or direct any payment to the guardian, legal representative or
person having the care and custody of the incompetent or incapable person. The Committee may
require proof of incompetence, incapacity or guardianship, as it may deem appropriate before making
any payment. In the event of a payment, the Committee will have no obligation thereafter to
monitor or follow the application of the amounts so paid. Payments pursuant to this paragraph
shall completely discharge the Company with respect to such payments.

     18. No Further Liability. The liability of the Company, its Affiliates, its
Subsidiaries and the Committee under this Agreement is limited to the obligations set forth herein
and no terms or provisions of this Agreement shall be construed to impose any liability on the
Company, its Affiliates, its Subsidiaries or the Committee in favor of any person or entity with
respect to any loss, cost, tax or expense which the person or entity may incur in connection with
or arising from any transaction related to this Agreement.

     19. Section Headings. The section headings of this Agreement are for convenience and
reference only and are not intended to define, extend or limit the contents of the sections.

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     20. No Right to Continued Employment. Nothing in this Agreement will be construed to
confer upon the Grantee the right to continue in the employment or service of the Company, its
Subsidiaries or Affiliates, or to be employed or serve in any particular position therewith, or
affect any right which the Company, its Subsidiaries or an Affiliate may have to terminate the
Grantee’s employment or service with or without cause.

     21. Governing Law. Except as may otherwise be provided in the Plan, this Agreement
will be governed by, construed and enforced in accordance with the internal laws of the State of
Delaware, without giving effect to its principles of conflict of laws.

     22. Signature in Counterparts. This Agreement may be signed in counterparts, each of
which shall be an original, with the same effect as if the signatures were upon the same
instrument.

     23. Amendment. The Committee may waive any conditions or rights under, amend any
terms of, or alter, suspend, discontinue, cancel or terminate this Agreement, but no such waiver,
amendment, alteration, suspension, discontinuance, cancellation or termination shall materially
adversely affect the rights of the Grantee hereunder without the consent of the Grantee.

     24. Withholding. The Grantee may be required to pay to the Company or any Affiliate
and the Company or any Affiliate shall have the right and is hereby authorized to withhold, any
applicable withholding taxes in respect of the Performance Units or Shares, or any payment or
transfer under or with respect to the Performance Units or Shares and to take such other action as
may be necessary in the opinion of the Committee to satisfy all obligations for the payment of such
withholding taxes. The Participant may elect to pay any or all such withholding taxes as provided
for in Section 4 of the Plan.

     25. Code Section 409A. It is intended that this Agreement and the compensation and
benefits hereunder either be exempt from, or comply with, Internal Revenue Code Section 409A, and
this Agreement shall be so construed and administered. If the Company reasonably determines that
any compensation or benefits awarded or payable under this Agreement may be subject to taxation
under Section 409A, the Company, after consultation with the Grantee, shall have the authority to
adopt, prospectively or retroactively, such amendments to this Agreement or to take any other
actions it determines necessary or appropriate to: (a) exempt the compensation and benefits
payable under this Agreement from Section 409A; or (b) comply with the requirements of Section
409A. In no event, however, shall this Section or any other provisions of the Plan or this
Agreement be construed to require the Company to provide any gross-up for the tax consequences of
any provisions of, or awards or payments under, this Agreement and the Company shall have no
responsibility for tax consequences of any kind, whether or not such consequences are contemplated
at the time of entry into this Agreement, to Grantee (or his beneficiary) resulting from the terms
or operation of this Agreement.

6

 

IN WITNESS WHEREOF, the Company has caused this Agreement to be executed on its behalf by its duly
authorized officer and the Grantee has hereunto set his hand.

	 	 	 	 	 	 	 	 	 	 	 
	Grantee	 	 	 	Chart Industries, Inc.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Print Name:

	 	 	 	 	 	Its:	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	Date:

	 	 	 	 	 	Date:	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 

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EXHIBIT A

PERFORMANCE REQUIREMENTS

Performance Period

The Performance Period begins on January 1, 2008 and ends on December 31, 2010.

Performance Measures

The Performance Measures are:

	 	1.	 	Relative Total Shareholder Return (“RTSR”) - RTSR is determined by comparing
the total shareholder return of the Company with the total shareholder return of the
peer group of companies designated on Exhibit B. Total shareholder return is the
result of (a) minus (b), plus (c), divided by (d), where:

	 	a.	 	is the Share price on December 31, 2010;
	 
	 	b.	 	is the Share price on January 1, 2008;
	 
	 	c.	 	is the Dividends over the Performance Period; and
	 
	 	d.	 	is the Share price on January 1, 2008.

	 	 	 	For purposes of this formula, (x) the Share price on any given day shall be
the average daily closing price for the Shares over the ten-trading-day period
ending on that day, based on reported closing prices for the Shares for the ten
trading days (on which the Shares traded regular way in the market) ending on that
day (or, if that day is not a trading day on which the Shares traded regular way in
the market, then ending on the last trading day on which the Shares traded regular
way in the market immediately preceding that day), and (y) “Dividends” includes
regular dividends, special or one-time dividends, Share buybacks and other payments
or distributions from the Company to holders of Shares and, in the case of peer
group companies, from each of those companies to the holders of their common stock
of any class.
	 
	 	 	 	The Committee may, in the exercise of its discretion in good faith and in a manner
consistent with the purposes of this Agreement, make such adjustments in calculating
the RTSR as it deems necessary or appropriate to account for extraordinary or
non-recurrent events affecting the Company or the peer group companies. Without
limiting the foregoing, the Committee may make appropriate adjustments to the RTSR
to reflect a merger, asset sale, spin-off, stock split, stock dividend, public
offering, bankruptcy or liquidation affecting the Company or any peer group company.

 

 

	 	2.	 	EBITDA Growth - EBITDA Growth is determined by reference to the adjusted
compounded annual growth rate of adjusted earnings of the Company before interest,
taxes, depreciation and amortization (“EBITDA”) over the Performance Period. For this
purpose, adjustments shall include stock-based compensation expenses, expenses related
to stock offerings, acquisitions, dispositions, restructuring charges, gain or loss on
sale of non-operating assets, income or expenses related to the adoption of accounting
principles, income or loss from discontinued operations and any other extraordinary
items (e.g., hurricane losses, etc.) deemed to be adjustments by the Committee.

Earned Performance Units

The Performance Units subject to, respectively, the RTSR and EBITDA Growth Performance Measures
shall become, respectively, RTSR Earned Performance Units and EBITDA Earned Performance Units
(collectively, the “Earned Performance Units”), as determined pursuant to the methodologies set
forth below:

	 	1.	 	RTSR Earned Performance Units
	 
	 	 	 	RTSR Earned Performance Units are determined as follows:

	 	a.	 	Measure total shareholder return for the Performance Period for
the Company and for each entity that makes up the peer group (the companies
listed on Exhibit B are the “Peer Group”).
	 
	 	b.	 	Determine the percentile ranking of the Company compared to the
Peer Group based upon the cumulative total shareholder return over the
Performance Period.
	 
	 	c.	 	Determine the percentage of earned Performance Units (the “RTSR
Earned Percentage”) as follows:

	 	 	 	 	 
	Levels	 	Percentage Ranking	 	RTSR Earned Percentage
	Threshold
	 	50th
	 	35%
	Target
	 	75th
	 	100%
	Maximum
	 	90th
	 	150%

	 	 	 	With respect to performance levels that fall between these percentiles, the
RTSR Earned Percentage will be interpolated on a straight-line basis. In no
event will the RTSR Earned Percentage exceed 150%.
	 
	 	d.	 	Determine the number of earned Performance Units (“RTSR Earned
Performance Units”) as follows:

	 	 	 	50%     X     RTSR Earned Percentage     X     Number of Performance Units

2

 

	 	2.	 	EBITDA Earned Performance Units 
	 
	 	 	 	EBITDA Earned Performance Units are determined as follows:

	 	a.	 	Measure the Company’s adjusted EBITDA (i) for the final year of
the Performance Period (the “Final LTM EBITDA”) and (ii) for the year ended
December 31, 2007 (the “Base LTM EBITDA”).
	 
	 	b.	 	Calculate the compound annual percentage growth rate (the
“EBITDA Growth”) for the Performance Period based on the relationship of Final
LTM EBITDA to Base LTM EBITDA, and giving effect to a 3.0-year period.
	 
	 	c.	 	Based on such EBITDA Growth, determine the percentage of earned
Performance Units (the “EBITDA Earned Percentage”) as provided on Exhibit C.
	 
	 	d.	 	Determine the number of earned Performance Units (“EBITDA
Earned Performance Units”) as follows:

	 	 	 	50%     X     EBITDA Earned Percentage     X     Number of Performance Units

3

 

EXHIBIT B

PEER GROUP

Air Products & Chemicals Inc.

Airgas Inc.

Altra Holdings Inc.

Ampco-Pittsburgh Corp.

Barnes Group Inc.

Cameron International Corp.

Circor Intl. Inc.

Columbus McKinnon Corp.

Dresser-Rand Group Inc.

Enpro Industries Inc.

Gorman-Rupp Co.

Kaydon Corp.

Lufkin Industries, Inc.

National Oilwell Varco Inc.

Powell Industries Inc.

Praxair Inc.

Robbins & Myers Inc.

Exterran Holdings, Inc.

 

EXHIBIT C

EBITDA GROWTH

PERFORMANCE MEASURES

The EBITDA Growth Performance Measures for the Performance Period:

	 	 	 	 	 
	Levels	 	Attained EBITDA Growth%	 	EBITDA Earned Percentage
	Threshold
	 	___%
	 	35%
	Target
	 	___%
	 	100%
	Maximum
	 	___%
	 	150%

With respect to performance levels that fall between these attained percentages, the EBITDA Earned
Percentage will be interpolated on a straight-line basis. In no event will the EBITDA Earned
Percentage exceed 150%.

2EX-10.4.6

 

EXHIBIT 10.4.6

AMENDED AND RESTATED

CHART INDUSTRIES, INC.

2005 STOCK INCENTIVE PLAN

STOCK AWARD AGREEMENT AND

DEFERRAL ELECTION FORM

(For Non-Employee Directors)

Participant:                     

Award Period: 20___

     1. Award. In consideration for services as a member of Chart Industries, Inc.’s (the
“Company’s”) Board of Directors (the “Board”) in the next fiscal year, the Company
hereby agrees to make four installment payments of shares of common stock of the Company (the
“Shares”) to the Participant during such fiscal year. Alternatively, the Participant may
elect to receive the Shares at the time indicated in the Deferral Election Form below (such date of
later delivery of such Shares pursuant to the Deferral Election Form is referred to herein as the
“Delivery Date”).

     The Company’s obligation to make any such payments shall be subject to, and on the terms and
conditions set forth in, this Stock Award Agreement and Deferral Election Form (this
“Agreement”) and the Amended and Restated Chart Industries, Inc. 2005 Stock Incentive Plan
(the “Plan”) which, as amended from time to time, is incorporated herein by reference and
made a part of this Agreement. Capitalized terms not otherwise defined herein shall have the
meanings attributed to them under the Plan.

     2. Payment of Shares.

     (a) Timing. Except as otherwise provided in a valid and timely submitted
Deferral Election Form, an installment payment will be made on the first business day of
each quarter (each, a “Grant Date”) in the next fiscal year provided that the
Participant continues to serve as a non-employee member of the Board on the applicable Grant
Date. If the Participant elects to defer payment of Shares until a later fiscal year,
Shares will be credited to a bookkeeping account as deferred shares (“Deferred
Shares”, the number of which credited to the bookkeeping account on the Grant Date shall
equal the number of Shares then deferred) maintained for the Participant in installments on
each Grant Date provided that the Participant continues to serve as a non-employee member of
the Board on the applicable Grant Date.

     (b) Amount. An installment payment will consist of a number of Shares with a
value of $10,000 on the applicable payment date. The precise number of Shares to which the
Participant will be entitled will be determined by reference to the closing price of a
common share of the Company on the first business day of the applicable quarter or, if the
first business day of the applicable quarter falls on a date on which the Shares are not
regularly traded, the closing price on the most recent trading date for such Shares prior to
the first

 

 

business day of the applicable quarter. Any partial Shares shall be rounded down to
the next whole Share.

     3. Dividends. Should the Participant elect the deferral of payment of Shares, then
this Section 3 shall apply. If on any date while Deferred Shares are held in the bookkeeping
account hereunder the Company shall pay any cash dividend on the Shares (with a record date after
the Grant Date), the Company shall credit to the Participant’s bookkeeping account and the
Participant shall be entitled to receive, on the Delivery Date, a cash payment equal to the product
of (a) the number of Deferred Shares held by the Participant as of the related dividend record
date, multiplied by (b) the per Share amount of such cash dividend. In the case of any dividend
declared on Shares (with a record date after the Date of Grant) that is payable in the form of
Shares, the Company shall credit to the Participant’s bookkeeping account and the Participant shall
be granted, as of the Delivery Date, a number of additional Deferred Shares (rounded down to the
next whole Share) equal to the product of (x) the aggregate number of Deferred Shares that have
been held by the Participant through the related dividend record date, multiplied by (y) the number
of Shares (including any fraction thereof) payable as a dividend on a Share.

     4. Adjustments Upon Certain Events. The Committee shall make certain substitutions or
adjustments to any Deferred Shares subject to this Agreement pursuant to Section 9(a) of the Plan
as it deems equitable, but such substitution or adjustment shall not duplicate the value of any
benefit the Participant shall be entitled to receive under this Agreement.

     5. No Right to Continued Employment. The award evidenced by this Agreement shall
impose no obligation on the Company or any Affiliate to continue the Employment of the Participant
and shall not lessen or affect the Company’s or its Affiliate’s right to terminate the Employment
of such Participant.

     6. No Voting Rights. The Participant shall not have any voting or similar rights with
respect to any Shares or Deferred Shares unless and until Shares have been registered in the
Company’s register of shareholders. Without limiting the foregoing, the Participant shall not have
any voting or similar rights with respect to any Deferred Shares during any period such shares are
subject to a deferral election.

     7. Legend on Certificates. Any Shares issued or transferred to the Participant
pursuant to this Agreement shall be subject to such stop transfer orders and other restrictions as
the Committee may deem advisable under the Plan or the rules, regulations, and other requirements
of the Securities and Exchange Commission, any stock exchange upon which such Shares are listed,
and any applicable federal or state laws or relevant securities laws of the jurisdiction of the
domicile of the Participant, and the Committee may cause a legend or legends to be put on any
certificates representing such Shares to make appropriate reference to such restrictions.

     8. Transferability. Rights hereunder may not be assigned, alienated, pledged,
attached, sold or otherwise transferred or encumbered by the Participant other than by will or by
the laws of descent and distribution, and any purported assignment, alienation, pledge, attachment,
sale, transfer or encumbrance not permitted by this Section 8 shall be void and unenforceable
against the Company and any Affiliate.

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     9. Notices. Any notice under this Agreement shall be addressed to the Company in care
of its Secretary at the principal executive office of the Company and to the Participant at the
address appearing in the records of the Company or its Affiliates for the Participant or to either
party at such other address as either party hereto may hereafter designate in writing to the other.
Any such notice shall be deemed effective upon receipt thereof by the addressee.

     10. Choice of Law. THE INTERPRETATION, PERFORMANCE AND ENFORCEMENT OF THIS AGREEMENT
SHALL BE GOVERNED BY THE LAWS OF THE STATE OF DELAWARE WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF
LAW.

     11. Shares Subject to Plan. By entering into this Agreement, the Participant agrees
and acknowledges that the Participant has received and read a copy of the Plan. All Shares are
subject to the Plan. In the event of a conflict between any term or provision contained herein and
a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and
prevail.

     12. Modifications. Notwithstanding any provision of this Agreement to contrary, the
Company reserves the right to modify the terms and conditions of this Agreement including, without
limitation, the timing or circumstances of the issuance or transfer of Shares to the Participant
hereunder, to the extent such modification is determined by the Company to be necessary to comply
with applicable law or preserve any intended deferral of income recognition until the issuance or
transfer of Shares hereunder.

     13. Signature in Counterparts. This Agreement may be signed in counterparts, each of
which shall be an original, with the same effect as if the signatures thereto and hereto were upon
the same instrument.

     14. Compliance with Section 409A of the Code. Notwithstanding any other provisions of
this Agreement or the Plan, the Shares shall not be deferred, accelerated, extended, paid out or
modified in a manner that would result in the imposition of an additional tax under Section 409A of
the Code upon the Participant. In the event it is reasonably determined by the Committee that, as
a result of Section 409A of the Code, the transfer of Shares under this Agreement may not be made
at the time contemplated hereunder without causing the Participant to be subject to taxation under
Section 409A of the Code, the Company will make such payment on the first day that would not result
in the Participant incurring any tax liability under Section 409A of the Code.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of                      ___, 20___.

	 	 	 	 	 	 	 	 	 
	PARTICIPANT	 	 	 	CHART INDUSTRIES, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

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AMENDED AND RESTATED

CHART INDUSTRIES, INC.

2005 STOCK INCENTIVE PLAN

STOCK AWARD AGREEMENT AND

DEFERRAL ELECTION FORM

(For Non-Employee Directors)

     I understand that, as a non-employee director of Chart Industries, Inc. (the
“Company”), I will be entitled to four installment payments of shares of common stock of
the Company (the “Shares”) in the next fiscal year, to the extent specified in the above
Agreement. An installment payment will consist of a number of Shares with a value of $10,000 on
the applicable payment date, as specified in the above Agreement.

Normal Time and Form of Payment

     In the absence of a contrary election below, I will receive an installment payment on the
first business day of each quarter in the next fiscal year, to the extent specified in the above
Agreement.

Complete the election below only if you wish to defer all or a portion of each payment until a date
after 2008.

Election to Defer Payment

     I hereby elect to have                     % (enter a whole percentage between 1% and 100%; if less than
100% the number of Shares deferred will be rounded up to the next whole share) of the Shares (and
any related dividend equivalents, if any, to the extent specified in Section 3 of the Agreement)
paid to me at the following time:

          On [the earli[er][est] of]:

	 	o 	 	____________
______, 20___) [[or][,]
	 
	 	o 	 	The first day of January following my separation from service with the
Company’s Board of Directors [or]
	 
	 	o 	 	The date of the occurrence of a “change in ownership or effective control”
(as defined under Section 409A of the Internal Revenue Code) of the Company.

An election to defer payments must be submitted to the Company by the last day of the fiscal year
immediately preceding the fiscal year to which the election applies.

	 	 	 	 	 	 	 	 	 	 	 
	Participant:

	 	 	 	 	 	ACKNOWLEDGED	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 
	Print Name:
	 	 	 	 	 	 	 	, 	 	 
	 

	 	 
	 	 	 	 
for Chart Industries, Inc.	 	 	 	 
	Date:

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 

-4-

 

AMENDED AND RESTATED

CHART INDUSTRIES, INC.

2005 STOCK INCENTIVE PLAN

STOCK AWARD AGREEMENT AND

DEFERRAL ELECTION FORM

(For Non-Employee Directors)

(Mid-Year Elections)

Participant:                     

Award Period: 20___

     1. Award. In consideration for services as a member of Chart Industries, Inc.’s (the
“Company’s”) Board of Directors (the “Board”) in this fiscal year, the Company
hereby agrees to make installment payments of shares of common stock of the Company (the
“Shares”) to the Participant during the remainder of the current fiscal year.
Alternatively, the Participant may elect, subject to the limitations below, to receive the Shares
at the time indicated in the Deferral Election Form below (such date of later delivery of such
Shares pursuant to the Deferral Election Form is referred to herein as the “Delivery
Date”).

     The Company’s obligation to make any such payments shall be subject to, and on the terms and
conditions set forth in, this Stock Award Agreement and Deferral Election Form (this
“Agreement”) and the Amended and Restated Chart Industries, Inc. 2005 Stock Incentive Plan
(the “Plan”) which, as amended from time to time, is incorporated herein by reference and
made a part of this Agreement. Capitalized terms not otherwise defined herein shall have the
meanings attributed to them under the Plan.

     2. Payment of Shares.

     (a) Timing. Generally, unless a Participant elects otherwise in a valid and
timely submitted Deferral Election Form, the first installment payment will be made on the
earlier of (i) the date of the first meeting of the Board attended by Participant as a
non-employee director or (ii) the first business day of the calendar quarter after
Participant becomes a non-employee director, with each succeeding installment payment during
the current fiscal year made to Participant on the first business day of each remaining
quarter (each such payment date, a “Grant Date”) of the current fiscal year,
provided that the Participant continues to serve as a non-employee member of the Board on
the applicable Grant Date. If the Participant validly elects to defer payment of Shares
until a later fiscal year, Shares will be credited to a bookkeeping account as deferred
shares (“Deferred Shares”, the number of which credited to the bookkeeping account
on the Grant Date shall equal the number of Shares then deferred) maintained for the
Participant in installments on each Grant Date provided that the Participant continues to
serve as a non-employee member of the Board on the applicable Grant Date.

     (b) Amount. An installment payment will consist of a number of Shares with a
value of $10,000 on the applicable payment date. The precise number of Shares to which a
Participant will be entitled will be determined by reference to the closing price of a Share
on the applicable Grant Date or, if the Grant Date falls on a date on which the Shares are
not

-5-

 

     regularly traded, the closing price on the most recent trading date for such Shares
prior to the Grant Date. Any partial Shares shall be rounded down to the next whole Share.

     (c) Mid-Year Elections. Special rules apply if a Participant enters the plan
in the middle of a fiscal year. First, the Participant must elect to defer installment
payments within 30 days of becoming a director. If no election is made in this time frame,
installment payments will be made quarterly in that fiscal year as provided above. The
Participant will have another opportunity to defer installment payments for the next fiscal
year. Second, a deferral election may only apply to installment payments to be made with
respect to calendar quarters beginning after the date of the election.

     For example, suppose a Participant became a director on April 15 and attended a Board
meeting on that date. The Participant would have to make a deferral election within 30 days
(i.e., before May 15). That election would only become effective for the installment
payments otherwise scheduled to be made for the third and fourth calendar quarters. The
Participant would receive an installment payment for the second calendar quarter despite the
deferral election.

     3. Dividends. Should the Participant validly elect the deferral of payment of Shares,
then this Section 3 shall apply. If on any date while Deferred Shares are held in the bookkeeping
account hereunder the Company shall pay any cash dividend on the Shares (with a record date after
the Grant Date), the Company shall credit to the Participant’s bookkeeping account and the
Participant shall be entitled to receive, on the Delivery Date, a cash payment equal to the product
of (a) the number of Deferred Shares held by the Participant as of the related dividend record
date, multiplied by (b) the per Share amount of such cash dividend. In the case of any dividend
declared on Shares (with a record date after the Date of Grant) that is payable in the form of
Shares, the Company shall credit to the Participant’s bookkeeping account and the Participant shall
be granted, as of the Delivery Date, a number of additional Deferred Shares (rounded down to the
next whole Share) equal to the product of (x) the aggregate number of Deferred Shares that have
been held by the Participant through the related dividend record date, multiplied by (y) the number
of Shares (including any fraction thereof) payable as a dividend on a Share.

     4. Adjustments Upon Certain Events. The Committee shall make certain substitutions or
adjustments to any Deferred Shares subject to this Agreement pursuant to Section 9(a) of the Plan
as it deems equitable, but such substitution or adjustment shall not duplicate the value of any
benefit the Participant shall be entitled to receive under this Agreement.

     5. No Right to Continued Employment. The award evidenced by this Agreement shall
impose no obligation on the Company or any Affiliate to continue the Employment of the Participant
and shall not lessen or affect the Company’s or its Affiliate’s right to terminate the Employment
of such Participant.

     6. No Voting Rights. The Participant shall not have any voting or similar rights with
respect to any Shares or Deferred Shares unless and until Shares have been registered in the
Company’s register of shareholders. Without limiting the foregoing, the Participant shall not have
any voting or similar rights with respect to any Deferred Shares during any period such shares are
subject to a deferral election.

-6-

 

     7. Legend on Certificates. Any Shares issued or transferred to the Participant
pursuant to this Agreement shall be subject to such stop transfer orders and other restrictions as
the Committee may deem advisable under the Plan or the rules, regulations, and other requirements
of the Securities and Exchange Commission, any stock exchange upon which such Shares are listed,
and any applicable federal or state laws or relevant securities laws of the jurisdiction of the
domicile of the Participant, and the Committee may cause a legend or legends to be put on any
certificates representing such Shares to make appropriate reference to such restrictions.

     8. Transferability. Rights hereunder may not be assigned, alienated, pledged,
attached, sold or otherwise transferred or encumbered by the Participant other than by will or by
the laws of descent and distribution, and any purported assignment, alienation, pledge, attachment,
sale, transfer or encumbrance not permitted by this Section 8 shall be void and unenforceable
against the Company and any Affiliate.

     9. Notices. Any notice under this Agreement shall be addressed to the Company in care
of its Secretary at the principal executive office of the Company and to the Participant at the
address appearing in the records of the Company or its Affiliates for the Participant or to either
party at such other address as either party hereto may hereafter designate in writing to the other.
Any such notice shall be deemed effective upon receipt thereof by the addressee.

     10. Choice of Law. THE INTERPRETATION, PERFORMANCE AND ENFORCEMENT OF THIS AGREEMENT
SHALL BE GOVERNED BY THE LAWS OF THE STATE OF DELAWARE WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF
LAW.

     11. Shares Subject to Plan. By entering into this Agreement, the Participant agrees
and acknowledges that the Participant has received and read a copy of the Plan. All Shares are
subject to the Plan. In the event of a conflict between any term or provision contained herein and
a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and
prevail.

     12. Modifications. Notwithstanding any provision of this Agreement to contrary, the
Company reserves the right to modify the terms and conditions of this Agreement including, without
limitation, the timing or circumstances of the issuance or transfer of Shares to the Participant
hereunder, to the extent such modification is determined by the Company to be necessary to comply
with applicable law or preserve any intended deferral of income recognition until the issuance or
transfer of Shares hereunder.

     13. Signature in Counterparts. This Agreement may be signed in counterparts, each of
which shall be an original, with the same effect as if the signatures thereto and hereto were upon
the same instrument.

-7-

 

     14. Compliance with Section 409A of the Code. Notwithstanding any other provisions of
this Agreement or the Plan, the Shares shall not be deferred, accelerated, extended, paid out or
modified in a manner that would result in the imposition of an additional tax under Section 409A of
the Code upon the Participant. In the event it is reasonably determined by the Committee that, as
a result of Section 409A of the Code, the transfer of Shares under this Agreement may not be made
at the time contemplated hereunder without causing the Participant to be subject to taxation under
Section 409A of the Code, the Company will make such payment on the first day that would not result
in the Participant incurring any tax liability under Section 409A of the Code.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement.

	 	 	 	 	 	 	 	 	 
	PARTICIPANT	 	 	 	CHART INDUSTRIES, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

-8-

 

AMENDED AND RESTATED

CHART INDUSTRIES, INC.

2005 STOCK INCENTIVE PLAN

STOCK AWARD AGREEMENT AND

DEFERRAL ELECTION FORM

(For Non-Employee Directors)

(Mid-Year Elections)

     I understand that, as a non-employee director of Chart Industries, Inc. (the
“Company”), I will be entitled to installment payments of shares of common stock of the
Company (the “Shares”) in this fiscal year, to the extent and as specified in the above
Agreement. An installment payment will consist of a number of Shares with a value of $10,000 on
the applicable payment date, as specified in the above Agreement.

Normal Time and Form of Payment

     In the absence of a contrary election below, I will receive an installment payment on the
first business day of each quarter remaining in this fiscal year, to the extent specified in the
above Agreement.

     Complete the election below only if you wish to defer all or a portion of a payment until a date
after 2008.

Election to Defer Payment

     I hereby elect to have ___% (enter a whole percentage between 1% and 100%; if less than
100% the number of Shares deferred will be rounded up to the next whole share) of the Shares (and
any related dividend equivalents, if any, to the extent specified in Section 3 of the Agreement)
paid to me at the following time:

          On [the earli[er][est] of]:

	 	o 	 	                     ___, 20___) [[or][,]
	 
	 	o 	 	The first day of January following my separation from service with the
Company’s Board of Directors [or]
	 
	 	o 	 	The date of the occurrence of a “change in ownership or effective control”
(as defined under Section 409A of the Internal Revenue Code) of the Company.

An election to defer payments scheduled to be made in this fiscal year must be submitted to the
Company within 30 days of the date a Participant becomes a director.

	 	 	 	 	 	 	 	 	 	 	 
	Participant:

	 	 	 	 	 	ACKNOWLEDGED	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 
	Print Name:
	 	 	 	 	 	 	 	, 	 	 
	 
	 	 
	 	 	 	 
for Chart Industries, Inc.	 	 		 
	Date:

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 

-9-

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