Document:

Exhibit 10.8

 

RESTRICTED STOCK UNIT AWARD AGREEMENT

 

BROADWIND ENERGY, INC.

2007 EQUITY INCENTIVE PLAN

 

THIS AGREEMENT, made effective as of this
       day of
                      ,
        , by and between Broadwind
Energy, Inc., a Delaware corporation (the “Company”), and
                        
(“Participant”).

 

RECITALS

 

WHEREAS, Participant on the date hereof is a key employee, officer,
director of, or consultant or advisor to, the Company or one of its
Subsidiaries; and

 

WHEREAS, the Company wishes to grant a restricted stock unit award to
Participant for shares of the Company’s Common Stock pursuant to the Company’s
2007 Equity Incentive Plan (the “Plan”); and

 

WHEREAS, the Administrator of the Plan has authorized the grant of a
restricted stock unit award to Participant;

 

AGREEMENTS

 

In consideration of the premises and of the mutual covenants herein
contained, the parties hereto agree as follows:

 

ARTICLE I.  GRANT OF RESTRICTED STOCK UNIT AWARD

 

The Company hereby grants to Participant restricted stock unit award
(the “Award”) for
                              
(                )
restricted stock units on the terms and conditions set forth herein.  Each restricted stock unit shall entitle the
Participant to receive one share of the Company’s Common Stock.  [If there is
performance-based vesting, include the following: This Award shall
expire                                                ,
unless terminated earlier under the provisions of Article II below.]

 

ARTICLE II.  VESTING OF RESTRICTED STOCK UNITS

 

A.            General. The
restricted stock units subject to this Award shall vest according to the
following schedule:

 

	
  Vesting Date

  	
   

  	
  Number of Shares

  
	
   

  	
   

  	
   

  
	
                ,
  2008

  	
   

  	
   

  
	
                ,
  2009

  	
   

  	
   

  
	
                ,
  2010

  	
   

  	
   

  

 

Subject
to such other terms and conditions set forth in this Agreement, the Participant
shall not be entitled to the issuance of shares for any portion of the
restricted stock units subject to this Award until the Administrator determines
the number of restricted stock units, if any, which have vested.

 

B.            Termination of
Relationship.  If, prior to the
vesting of all or any portion of the Award, Participant ceases to be [a key employee or officer] [a consultant or advisor] [a director]
of the Company or any Affiliate for any reason, the Participant shall forfeit
all restricted stock units subject to this Award which have not vested and this
Award shall terminate as of the date of the act giving rise to such
termination.

 

 

C.            Issuance of
Shares; Rights as a Stockholder.  On each Vesting Date, the Company shall cause
to be issued a stock certificate representing that number of shares of Common
Stock that have vested as of such Vesting Date, less any shares withheld for
payment of taxes as provided in Article IV below, and shall deliver such
certificate to Participant.  Until the
issuance of such shares, Participant shall not be entitled to receive dividends
attributable to such shares of Common Stock, and shall not have any other
rights as a stockholder with respect to such shares. No adjustment shall be
made for dividends (ordinary or extraordinary, whether in cash, securities or
other property), distributions or other rights for which the record date is
prior to the date such shares are issued, except as provided in Section 14
of the Plan and Article V of this Agreement.

 

ARTICLE
III.  NONTRANSFERABILITY

 

This Award shall not be transferable, in whole or in part, by
Participant, other than by will or by the laws of descent and distribution,
prior to the Vesting Date for each portion of the Award.  If Participant shall attempt any transfer of
this Award prior to such date, such transfer shall be void and this Award shall
terminate.

 

ARTICLE IV. WITHHOLDING TAXES

 

To permit the Company to comply with all applicable federal and state
income tax laws or regulations, the Company may take such action as it deems
appropriate to ensure that, if necessary, all applicable federal and state
payroll, income or other taxes attributable to this Award are withheld from any
amounts payable by the Company to the Participant.  If the Company is unable to withhold such
federal and state taxes, for whatever reason, the Participant hereby agrees to
pay to the Company an amount equal to the amount the Company would otherwise be
required to withhold under federal or state law prior to the issuance of any
certificates for the shares of Common Stock subject to this Award.  Subject to such rules as the
Administrator may adopt, the Administrator may, in its sole discretion, permit
Participant to satisfy such withholding tax obligations, in whole or in part,
by delivering shares of the Company’s Common Stock, including shares of Common
Stock received pursuant to this Award upon vesting.  Such shares shall have a Fair Market Value
equal to the minimum required tax withholding, based on the minimum statutory
withholding rates for federal and state tax purposes, including payroll taxes,
that are applicable to the supplemental income attributable to this Award.  In no event may the Participant deliver
shares having a Fair Market Value in excess of such statutory minimum required
tax withholding.  The Participant’s
election to deliver shares or to have shares withheld for this purpose shall be
made on or before the date that the amount of tax to be withheld is determined
under applicable tax law.  Such election
shall be approved by the Administrator and otherwise comply with such rules as
the Administrator may adopt to assure compliance with Rule 16b-3, or any
successor provision, as then in effect, of the General Rules and Regulations
under the Securities Exchange Act of 1934, if applicable.

 

ARTICLE V.  CAPITAL ADJUSTMENTS

 

Except as otherwise specifically provided in any employment, change of
control, severance or similar agreement executed by the Participant and the
Company, pursuant and subject to Section 14 of the Plan, certain changes
in the number or character of the Common Stock of the Company (through merger,
consolidation, exchange, reorganization, divestiture (including a spin-off),
liquidation, recapitalization, stock split, stock dividend or otherwise) shall
result in an adjustment, reduction or enlargement, as appropriate, in
Participant’s rights with respect to any restricted stock units subject to this
Award which continue to be subject to vesting (i.e., Participant shall
have such “anti-dilution” rights under the Award with respect to such events,
but shall not have “preemptive” rights).

 

2

 

ARTICLE VI.  BINDING EFFECT

 

This Agreement shall be binding upon the heirs, executors,
administrators and successors of the parties hereto.

 

ARTICLE VII.  2007 EQUITY INCENTIVE PLAN

 

The Award represented by this Agreement has been granted under, and is
subject to the terms of, the Plan.  The
terms of the Plan are hereby incorporated by reference herein in their entirety
and Participant, by execution hereof, acknowledges having received a copy of
the Plan.  Capitalized terms not defined
herein shall have the meaning set forth in the Plan.  The provisions of this Agreement shall be
interpreted as to be consistent with the Plan and any ambiguities herein shall
be interpreted by reference to the Plan. 
In the event that any provision hereof is inconsistent with the terms of
the Plan, the latter shall prevail.

 

ARTICLE VIII.  MISCELLANEOUS

 

A.            Employment or Other Relationship.  Nothing in this Agreement shall be construed
to (a) limit in any way the right of the Company or any Affiliate to
terminate the status of Participant as an employee of the Company at any time,
or (b) be evidence of any agreement or understanding, express or implied,
that the Company or any Affiliate will employ Participant in any particular
position, at any particular rate of compensation or for any particular period
of time.

 

B.            Securities Law Compliance.  Participant shall not transfer or otherwise
dispose of the shares of Common Stock received pursuant to this Agreement until
such time as counsel to the Company shall have determined that such transfer or
other disposition will not violate any state or federal securities laws.  Participant may be required by the Company,
as a condition of the effectiveness of this Award, to agree in writing that all
Common Stock subject to this Agreement shall be held, until such time that such
Common Stock is registered or otherwise freely tradable under applicable state
and federal securities laws, for Participant’s own account without a view to
any further distribution thereof, that the certificates for such shares shall
bear an appropriate legend to that effect and that such shares will be not
transferred or disposed of except in compliance with applicable state and
federal securities laws.

 

C.            Lockup Period
Limitation.  Participant agrees that
in the event the Company advises Participant that it plans an underwritten
public offering of its Common Stock in compliance with the Securities Act of
1933, as amended, and that the underwriter(s) seek to impose restrictions
under which certain stockholders may not sell or contract to sell or grant any
option to buy or otherwise dispose of part or all of their stock purchase
rights of the underlying Common Stock, Participant hereby agrees that for a
period not to exceed 180 days from the prospectus, Participant will not sell or
contract to sell or grant an option to buy or otherwise dispose of this Award
or any of the underlying  shares
of Common Stock without the prior written consent of the of the underwriter(s) or
its representative(s).

 

D.            Blue Sky
Limitation.  Notwithstanding anything
in this Agreement to the contrary, in the event the Company makes any public
offering of its securities and determines, in its sole discretion, that it is
necessary to reduce the number of issued but unexercised stock purchase rights
so as to comply with any state securities or Blue Sky law limitations with
respect thereto, the Administrator of the Company shall accelerate the vesting
of this restricted stock unit award, provided that the Company gives
Participant 15 days’ prior written notice of such acceleration.  Notice shall be deemed given when delivered
personally or when deposited in the United States mail, first class postage
prepaid and addressed to Participant at the address of Participant on file with
the Company.

 

3

 

E.             Accounting
Compliance.  Participant agrees that,
if a “transaction” (as defined in Section 14 of the Plan) occurs, and
Participant is an “affiliate” of the Company or any Affiliate (as defined in
applicable legal and accounting principles) at the time of such transaction,
Participant will comply with all requirements of Rule 145 of the
Securities Act of 1933, as amended, and the requirements of such other legal or
accounting principles, and will execute any documents necessary to ensure such
compliance.

 

F.             Stock Legend.  The Administrator may require that the
certificates for any shares of Common Stock issued to Participant (or, in the
case of death, Participant’s successors) 
under this Agreement shall bear an appropriate legend to reflect the
restrictions of this Article; provided, however, that failure to so endorse any
of such certificates shall not render invalid or inapplicable this Article VIII.

 

G.            Shares Reserved.  The Company shall at all times during the
term of this Award reserve and keep available such number of shares as will be
sufficient to satisfy the requirements of this Agreement.

 

H.            Arbitration.  Any dispute arising out of or relating to
this Agreement or the alleged breach of it, or the making of this Agreement,
including claims of fraud and inducement, shall be discussed between the
disputing parties in a good faith effort to arrive at a mutual settlement of
any such controversy.  If,
notwithstanding, such dispute cannot be resolved, such dispute shall be settled
by binding arbitration.  Judgment upon
the award rendered by the arbitrator may be entered in any court having
jurisdiction thereof.  The arbitrator
shall be a retired state or federal judge or an attorney who has practiced
securities or business litigation for at least ten (10) years.  If the parties cannot agree on an arbitrator
within twenty (20) days, any party may request that a judge of the Circuit
Court of Cook County, Illinois select an arbitrator.  Arbitration will be conducted pursuant to the
provisions of this Agreement and the commercial arbitration rules of the
American Arbitration Association, unless such rules are inconsistent with
the provisions of this Agreement. 
Limited civil discovery shall be permitted for the production of
documents and taking of depositions. 
Unresolved discovery disputes may be brought to the attention of the
arbitrator who may dispose of such disputes. 
The arbitrator shall have the authority to award any remedy or relief
that a court of this state could order or grant; provided, however, that
punitive or exemplary damages shall not be awarded.  The arbitrator may award to the prevailing
party, if any, as determined by the arbitrator, all of its costs and fees,
including the arbitrator’s fee, administrative fees, travel expenses,
out-of-pocket expenses and reasonable attorney’s fees.  Unless otherwise agreed by the parties, the
place of any arbitration proceedings shall be Chicago, Illinois.

 

I.              Right to Amend.  The Company hereby reserves the right to
amend this Agreement without Participant’s consent to the extent necessary or
desirable to comply with the requirements of Code Section 409A and the
regulations, notices and other guidance of general application issued
thereunder.

 

[If there is performance-based vesting, include the
following: J.               Delay
of Payment for Specified Employee. 
Notwithstanding anything herein to the contrary, if any payments to be
made to Participant hereunder are subject to the requirements of Code Section 409A
and the Company determines that Participant is a “specified employee” as
defined in Code Section 409A as of the date of the termination, such
payments shall not be paid or commence earlier than the date that is six months
after the termination.  Any payment not
made during the six month period shall be paid on the first day of the seventh
month following termination.]

 

4

 

ARTICLE IX.  GOVERNING LAW

 

This Agreement and all rights and obligations hereunder shall be
construed in accordance with the Plan and governed by the laws of the State of
Delaware.

 

[Signature page follows]

 

5

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement
effective the day and year first above written.

 

	
   

  	
   

  	
  BROADWIND
  ENERGY, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  
	
   

  	
   

  	
  Its:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  PARTICIPANT

  
	
  By
  execution hereof, the  Participant
  acknowledges having received a
  copy of the Plan. 

  	
   

  	
   

  

 

6Exhibit 10.9

 

PERFORMANCE
AWARD AGREEMENT

 

BROADWIND
ENERGY, INC.

2007 EQUITY
INCENTIVE PLAN

 

THIS AGREEMENT, is entered into and effective as of this
              
day of
                                ,
20        , by and between Broadwind
Energy, Inc., a Delaware corporation (the “Company”), and
                                        
(“Participant”).

 

RECITALS

 

A.                                   The Participant on the date hereof is a key
employee, officer or director of, or consultant or advisor to, the Company or
one of its Affiliates; and

 

B.                                     The Company wishes to grant a performance
share award to Participant pursuant to the Company’s 2007 Equity Incentive Plan
(the “Plan”) to entitle the Participant to shares of the Company’s Common Stock
upon the achievement of certain specified performance criteria; and

 

C.                                     The Administrator has authorized the grant of
such performance share award to Participant.

 

AGREEMENTS

 

In consideration of the premises and of the mutual covenants herein
contained, the parties hereto agree as follows:

 

ARTICLE I.  GRANT OF PERFORMANCE AWARDS

 

A.                                   Grant of Performance Share Award.  The
Company hereby grants to Participant on the date set forth above (the “Date of
Grant”) the right to receive up to
                        
(                  )
Performance Shares payable in shares of Common Stock on the terms and
conditions set forth herein (the “Performance Share Award”).

 

B.                                     Grant of Performance Unit Award.  The
Company hereby grants to Participant on the Date of Grant the right to receive
up to
                        
(                  )
Performance Units having a value of $                          
per Unit (the “Per Unit Value”) payable in cash or the terms and conditions set
forth herein (the “Performance Unit Award” and, together with the Performance Share
Award, the “Performance Award”).

 

ARTICLE II.  PERFORMANCE PERIOD

 

The Performance Period shall be the period beginning
                                        ,
20        , and ending
                                  ,
20      .

 

ARTICLE
III.  PERFORMANCE OBJECTIVES AND
VESTING OF

PERFORMANCE AWARD

 

A.                                   General.  Except as otherwise provided
herein, the Performance Shares or Performance Units subject to this Performance
Award shall vest only upon the achievement of all or a portion of certain
Performance Objectives, defined below, which must be achieved within the
Performance Period.

 

 

The
Performance Objectives and the extent to which achievement of all or a portion
of the Performance Objectives will result in the vesting of the Performance
Shares or Performance Units are as follows:

 

	
  Performance
  Objective(s)

  	
   

  	
  Achievement

  	
   

  	
  Percentage
  or Number of

  Shares or Units Vested

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

Notwithstanding
the foregoing schedule, the Administrator may delay the vesting of all or any
portion of the Performance Awards pursuant to Article X.J. herein;
provided, however, that such delay shall not extend the Performance Period
during which the above Performance Objectives must be achieved.  Subject to such other terms and conditions
set forth in this Agreement, the Participant shall not be entitled to the
issuance of any portion of the Performance Shares or Performance Units subject
to this Performance Award until the Administrator determines the number of
Performance Shares or Performance Units, if any, which have vested.

 

B.                                     Termination of
Employment Prior to Vesting.  If, prior to the vesting of any Performance
Shares or Performance Units, Participant ceases to be [a key
employee or officer] [a consultant or advisor] [a director] of the
Company or any Affiliate for any reason, the Participant shall forfeit all
unvested Performance Shares or Performance Units, and this Performance Award
shall terminate; provided, however, that if the Administrator delays the
vesting and issuance of any Performance Shares or Performance Units pursuant to
Article X.J., the Participant shall not forfeit any such Performance
Shares or Performance Units that otherwise would have vested prior to the
termination of Participant’s relationship had such vesting not been so delayed,
and, upon the issuance of such delayed vested Performance Shares or Performance
Units, this Performance Award shall terminate.

 

C.                                     Termination of
Employment After Vesting But Prior to Issuance.  If
Participant ceases to be [a key employee or
officer] [a consultant or advisor] [a director] of the Company or
any Affiliate for any reason after Performance Shares or Performance Units have
vested but prior to the date such Shares are issued or cash is distributed (as
described in Article III hereof), then Participant (or Participant’s
estate in the event of his death) shall be entitled to receive such vested
Performance Shares or Performance Units as if such termination of employment
had not occurred.  Upon the issuance of
the vested Performance Shares or Performance Units, this Performance Award
shall terminate.

 

ARTICLE IV.  FORM,
TIME OF ISSUANCE

 

The Administrator shall, within
          
(    ) days after the end of the Performance Period or at
such earlier times as described in Article III above, determine the number
of Performance Shares and Performance Units that have vested pursuant to Article III
above and shall calculate the amount of cash, if any, payable to Participant by
multiplying the Per Unit Value by such number of vested Performance Units.  Unless the Administrator delays the vesting
and issuance of such Performance Shares or Performance Units pursuant to Article X.J.,
such Performance Shares or cash shall be issued in the calendar year in which the date such Performance Shares or
Performance Units become vested; provided, however, that the Participant shall
receive cash equal to the Fair Market Value of any fractional shares.

 

ARTICLE
V.  NONTRANSFERABILITY

 

This Performance Award shall not be transferable, in whole or in part,
by Participant, other than by will or by the laws of descent and distribution,
prior to the date the risks of forfeiture described in this

 

2

 

Agreement
have lapsed.  If Participant shall
attempt any transfer of this Performance Award prior to such date, such
transfer shall be void and this Performance Award shall terminate.

 

ARTICLE VI. WITHHOLDING TAXES

 

To permit the Company to comply with all applicable federal and state
income tax laws or regulations, the Company may take such action as it deems
appropriate to ensure that, if necessary, all applicable federal and state
payroll, income or other taxes are withheld from any amounts payable by the
Company to Participant.  If the Company
is unable to withhold such federal and state taxes, for whatever reason,
Participant hereby agrees to pay to the Company an amount equal to the amount
the Company would otherwise be required to withhold under federal or state
law.  Subject to such rules as the Administrator may adopt, the Administrator
may, in its sole discretion, permit Participant to satisfy such withholding tax
obligations, in whole or in part (i) by delivering shares of common stock,
or (ii) by electing to have the Company withhold shares of Common Stock
otherwise issuable to Participant as a result of the grant of Performance
Shares, in either case having a Fair Market Value, as of the date the
amount of tax to be withheld is determined under applicable tax law, equal to the minimum amount required to be
withheld for tax purposes based on the minimum statutory withholding rates for
federal and state tax purposes, including payroll taxes, that are applicable to
the supplemental income resulting from such exercise.  Participant’s request to deliver shares or to
have shares withheld for purposes of such withholding tax obligations shall be
made on or before the date that triggers such obligations or, if later, the
date that the amount of tax to be withheld is determined under applicable tax
law.  Participant’s request shall be
approved by the Administrator and otherwise comply with such rules as the
Administrator may adopt to assure compliance with Rule 16b-3 or any
successor provision, as then in effect, of the General Rules and
Regulations under the Securities and Exchange Act of 1934, if applicable.

 

ARTICLE VII.  CAPITAL ADJUSTMENTS

 

Except as otherwise specifically provided in any employment, change of
control, severance or similar agreement executed by Participant and the
Company, pursuant and subject to Section 14 of the Plan, certain changes
in the number or character of the Common Stock of the Company (through sale,
merger, consolidation, exchange, reorganization, divestiture (including a
spin-off), liquidation, recapitalization, stock split, stock dividend or
otherwise) may result in an adjustment, reduction or enlargement, as
appropriate, in the number of shares subject to this Performance Award.  Any additional shares that are credited
pursuant to such adjustment shall be subject to the same restrictions as are
applicable to the shares with respect to which the adjustment relates.

 

ARTICLE  VIII.  BINDING
EFFECT

 

This Agreement shall be binding upon the heirs, executors,
administrators and successors of the parties hereto.

 

ARTICLE IX.  2007 EQUITY INCENTIVE PLAN

 

The Performance Award represented by this Agreement has been granted
under, and is subject to the terms of, the Plan.  The terms of the Plan are hereby incorporated
by reference herein in their entirety and Participant, by execution hereof,
acknowledges having received a copy of the Plan.  Capitalized terms not defined herein shall
have the meaning set forth in the Plan. 
The provisions of this Agreement shall be interpreted as to be consistent
with the Plan and any ambiguities herein shall be interpreted by reference to 

 

3

 

the
Plan.  In the event that any provision
hereof is inconsistent with the terms of the Plan, the latter shall prevail.

 

ARTICLE X.  MISCELLANEOUS

 

A.                                   Employment or Other
Relationship; Rights as a Stockholder.  Nothing in this Agreement
shall be construed to (a) limit in any way the right of the Company or any
Affiliate to terminate the status of Participant as an employee of the Company
at any time, or (b) be evidence of any agreement or understanding, express
or implied, that the Company or any Affiliate will employ Participant in any
particular position, at any particular rate of compensation or for any
particular period of time.  Participant
shall have no rights as a stockholder with respect to shares issued under this
Agreement until such shares have been issued to Participant.  No adjustment shall be made for dividends
(ordinary or extraordinary, whether in cash, securities or other property),
distributions or other rights for which the record date is prior to the date
such shares are issued, except as provided in Section 14 of the Plan.

 

B.                                     Securities Law
Compliance.  Participant shall not transfer or otherwise
dispose of the shares of Stock received pursuant to this Agreement until such
time as counsel to the Company shall have determined that such transfer or
other disposition will not violate any state or federal securities laws.  Participant may be required by the Company,
as a condition of the effectiveness of this Performance Award, to agree in
writing that all Stock subject to this Agreement shall be held, until such time
that such Stock is registered and freely tradable under applicable state and
federal securities laws, for Participant’s own account without a view to any
further distribution thereof, that the certificates for such shares shall bear
an appropriate legend to that effect and that such shares will be not
transferred or disposed of except in compliance with applicable state and
federal securities laws.

 

C.                                     Lockup Period Limitation. 
Participant agrees that in the event the Company advises Participant
that it plans an underwritten public offering of its Common Stock in compliance
with the Securities Act of 1933, as amended, and that the underwriter(s) seek
to impose restrictions under which certain stockholders may not sell or
contract to sell or grant any option to buy or otherwise dispose of part or all
of their stock purchase rights of the underlying Common Stock, Participant
hereby agrees that for a period not to exceed 180 days from the prospectus,
Participant will not sell or contract to sell or grant an option to buy or
otherwise dispose of this Performance Award or any of the underlying shares of
Common Stock without the prior written consent of the of the underwriter(s) or
its representative(s).

 

D.                                    Blue Sky Limitation. 
Notwithstanding anything in this Agreement to the contrary, in the event
the Company makes any public offering of its securities and determines, in its
sole discretion, that it is necessary to reduce the number of issued but
unexercised stock purchase rights so as to comply with any state securities or
Blue Sky law limitations with respect thereto, the Administrator of the Company
shall accelerate the vesting of this restricted stock award, provided that the Company
gives Participant 15 days’ prior written notice of such acceleration.  Notice shall be deemed given when delivered
personally or when deposited in the United States mail, first class postage
prepaid and addressed to Participant at the address of Participant on file with
the Company.

 

E.                                      Accounting Compliance. 
Participant agrees that, if a “transaction” (as defined in Section 14
of the Plan) occurs, and Participant is an “affiliate” of the Company or any
Affiliate (as defined in applicable legal and accounting principles) at the
time of such transaction, Participant will comply with all requirements of Rule 145
of the Securities Act of 1933, as amended, and the requirements of such other
legal or accounting principles, and will execute any documents necessary to
ensure such compliance.

 

F.                                      Stock Legend.  The
Administrator may require that the certificates for any shares of Common Stock
issued to Participant (or, in the case of death, Participant’s successors)  under this Agreement

 

4

 

shall
bear an appropriate legend to reflect the restrictions of this Article;
provided, however, that failure to so endorse any of such certificates shall
not render invalid or inapplicable this Article X.

 

G.                                     Shares Reserved.  The
Company shall at all times during the term of this Performance Award reserve
and keep available such number of shares as will be sufficient to satisfy the
requirements of this Agreement.

 

H.                                    Arbitration.  Any dispute arising out of or
relating to this Agreement or the alleged breach of it, or the making of this
Agreement, including claims of fraud and inducement, shall be discussed between
the disputing parties in a good faith effort to arrive at a mutual settlement
of any such controversy.  If, notwithstanding,
such dispute cannot be resolved, such dispute shall be settled by binding
arbitration.  Judgment upon the award
rendered by the arbitrator may be entered in any court having jurisdiction
thereof.  The arbitrator shall be a
retired state or federal judge or an attorney who has practiced securities or
business litigation for at least ten (10) years.  If the parties cannot agree on an arbitrator
within twenty (20) days, any party may request that a judge of the Circuit
Court of Cook County, Illinois select an arbitrator.  Arbitration will be conducted pursuant to the
provisions of this Agreement and the commercial arbitration rules of the
American Arbitration Association, unless such rules are inconsistent with
the provisions of this Agreement.  Limited
civil discovery shall be permitted for the production of documents and taking
of depositions.  Unresolved discovery
disputes may be brought to the attention of the arbitrator who may dispose of
such disputes.  The arbitrator shall have
the authority to award any remedy or relief that a court of this state could
order or grant; provided, however, that punitive or exemplary damages shall not
be awarded.  The arbitrator may award to
the prevailing party, if any, as determined by the arbitrator, all of its costs
and fees, including the arbitrator’s fee, administrative fees, travel expenses,
out-of-pocket expenses and reasonable attorney’s fees.  Unless otherwise agreed by the parties, the
place of any arbitration proceedings shall be Chicago, Illinois.

 

I.                                         Right to Amend.  The
Company hereby reserves the right to amend this Agreement without Participant’s
consent to the extent necessary or desirable to comply with the requirements of
Code Section 409A and the regulations, notices and other guidance of
general application issued thereunder.

 

J.                                        Delay in Payment
for Specified Employee.  Notwithstanding anything herein to the
contrary, if any payments to be made to Participant hereunder are subject to
the requirements of Code Section 409A and the Company determines that
Participant is a “specified employee” as defined in Code Section 409A as
of the date of the termination, such payments shall not be paid or commence
earlier than the date that is six months after the termination.  Any payment not made during the six month
period shall be paid on the first day of the seventh month following
termination.

 

ARTICLE XI.  GOVERNING LAW

 

This Agreement and all rights and obligations hereunder shall be
construed in accordance with the Plan and governed by the laws of the State of
Delaware.

 

[Signature page follows]

 

 

5

 

IN WITNESS WHEREOF, the
parties hereto have executed this Agreement effective the day and year first
above written.

 

	
   

  	
  BROADWIND ENERGY, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  
	
   

  	
  Its:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  PARTICIPANT

  
	
  By
  execution hereof, the  Participant
  acknowledges having  
 received a copy of the Plan. 

  	
   

  

 

6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00155-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00155-of-00352.parquet"}]]