Document:

RESTRICTED STOCK AGREEMENT

FORM OF RESTRICTED STOCK AGREEMENT

For Executive Officers

THIS AGREEMENT is made as of June 13, 2005 between _____________ ("Recipient") and NATCO Group Inc. (the "Company").  

1.As of June 13, 2005, the Company grants to Recipient _________ shares of Common Stock, $0.01 par value ("Common Stock"), of the Company (the "Shares") in accordance with and subject to the terms of the NATCO Group Inc. 2004 Stock Incentive Plan (the "Plan") and this Agreement.  It is understood that the consideration for the issuance of the Shares shall be Recipient's agreement to render future services as an employee of the Company, which services have a value not less than the par value of the Shares.  Recipient acknowledges receipt of a copy of the Plan and agrees that this award of Shares shall be subject to all the terms and provisions of the Plan.  In the event of any conflict between the terms of this Agreement and the Plan, the terms of the Plan shall govern.  Capitalized terms used but not defined in this Agreement have the respective meanings attributed to such terms under the Plan.

2.Promptly after the execution of this Agreement by Recipient, the Company shall cause Mellon Investor Services, LLC, the transfer agent for the Common Stock (together with its successors and assigns, the "Transfer Agent"), to issue a stock certificate showing ownership for the Shares in the name of Recipient subject to the terms and conditions of this Agreement and the Plan. The Shares shall be issued from Common Stock reserved for issuance pursuant to the Plan as grants under such plan ("Plan Shares").  The certificate or certificates evidencing the Shares subject hereto shall be delivered to and deposited with the Secretary of the Company as Escrow Agent in this transaction. Such certificates are to be held by the Escrow Agent until termination of the Restricted Period, at which time they shall be released by said Escrow Agent to Recipient.  All certificates representing any Shares subject to the provisions of this Agreement shall have endorsed thereon the following legend:

"The shares represented by this certificate are subject to an agreement between the Company and the registered holder, a copy of which is on file at the principal office of the Company."

3.During the Restricted Period (as defined below) for the Shares, Recipient shall not sell, assign, exchange, transfer, pledge, hypothecate or otherwise dispose of, transfer or encumber any of such Shares.  This prohibition against transfer and the obligation to forfeit and surrender Shares to the Company as provided herein are referred to as the "Forfeiture Restrictions."  A breach of the terms of this Agreement shall cause a forfeiture of the Shares.  During the Restricted Period, Recipient shall have all the rights of a shareholder with respect to the Shares except for the right to transfer the Shares.  Accordingly, Recipient shall have the right to vote the Shares and to receive any cash dividends paid to or made with respect to the Shares.

4.Recipient represents that the Shares are being acquired for investment and that Recipient has no present intention to transfer, sell or otherwise dispose of the Shares, except in compliance with applicable securities laws, and the parties agree that the Shares are being acquired in accordance with and subject to the terms, provisions and conditions of this Agreement and the Plan.  Recipient agrees that (a) the Company may refuse to register the transfer of the Restricted Shares on the stock transfer records of the Company if such proposed transfer would constitute a violation of the Forfeiture Restrictions or any applicable securities law and (b) the Company may give related instructions to the Transfer Agent to stop registration of the transfer of the Restricted Shares. 

5.The Forfeiture Restrictions shall lapse as to all of the Shares on the date that the Company has achieved an earnings per share of at least $1.10 calculated on a trailing twelve months basis as of the last day of a quarter, for three consecutive quarters; provided that (i) earnings per share may be normalized to exclude "special items" which in the opinion of the Audit Committee of the Company's Board of Directors are appropriate to exclude in consideration of the Company's financial performance and (ii) Recipient has continuously served as an employee of the Company or a direct or indirect subsidiary of the Company from the date of this Agreement until such date.  Notwithstanding the foregoing, the Forfeiture Restrictions may earlier lapse as to all of the Shares pursuant to Section VIII of the Plan or upon the occurrence of a Corporate Change.  A certificate for all Shares granted pursuant to this Agreement will be issued to Recipient following such date of release, or, at Recipient's election, may be transferred in book entry form to Recipient's brokerage account (subject to any adjustment to withhold Shares to pay taxes as provided below).  Any period during which Shares are subject to restriction under this Agreement is referred to as the "Restricted Period".  In the events (a) of termination of Recipient's service as an employee of the Company or a subsidiary for any reason during the Restricted Period, except as otherwise provided above, or (b) the performance goal is not attained on or before June 30, 2008, all Shares, for no consideration, shall be immediately forfeited to the Company.

6.The Company shall be required to withhold the amount of taxes required to satisfy any applicable federal, state and local tax withholding obligations arising from the lapse of restrictions on the Shares. Recipient may elect to satisfy any such tax obligation in cash or by authorizing the Company to withhold from the Shares issued to Recipient as a result of the lapse of the restrictions on Shares, the number of whole shares of Common Stock required to satisfy such tax obligation, the number to be determined by the Fair Market Value of the Shares on the date of the lapse of the restrictions on Shares.  If Recipient elects to withhold shares of Common Stock to satisfy any such tax obligation, Recipient shall pay in cash any obligation that remains after the application of whole shares that is less than the value of a whole share.

7.Recipient understands that the Company will, and Recipient hereby authorizes the Company to, issue such instructions to the Transfer Agent as the Company may deem necessary or proper to comply with the intent and purposes of this Agreement.  This instruction serves as a stock power by Recipient to the Company with respect to the Shares during the Restricted Period, which stock power shall expire at the end of the Restricted Period.

8.After the Forfeiture Restrictions have lapsed with respect to the Shares as provided above, for so long as Recipient remains an employee of the Company or a subsidiary, Recipient is required to retain at least one-third of the Shares for a period of three years following lapse of the Forfeiture Restrictions applicable to such Shares, unless the Governance, Nominating & Compensation Committee of the Company's Board of Directors (or successor committee under the Plan) shall approve a lower or no retention threshold a on a case-by-case basis after a showing of demonstrated need or special circumstance.

9.This Agreement shall be binding upon and inure to the benefit of the parties hereto and the successors and assigns of the Company and the successors, assigns, heirs and personal representatives of Recipient.

10.No provision contained in this Agreement shall in any way terminate, modify or alter, or be construed or interpreted as terminating, modifying or altering any of the powers, rights or authority vested in the Committee pursuant to the terms of the Plan, including, without limitation, the Committee's rights to make certain determinations and elections with respect to the Restricted Shares.

11.This Agreement shall not be deemed to (a) confer upon Recipient any right with respect to continuation of employment with the Company or a subsidiary or (b) affect the terms and conditions of any other agreement between the Company and Recipient except as expressly provided herein.

12.This Agreement shall be governed by the laws of the State of Delaware applicable to agreements made and to be performed entirely within such State.  This Agreement may not be altered, modified, changed or discharged, except by a writing signed by or on behalf of both the Company and Recipient.  This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which together will constitute one and the same Agreement.

IN WITNESS WHEREOF, the parties have signed this Agreement as of the date first written above.

 

	

NATCO Group Inc.

 
	

Recipient

	

By: ________________________________

Name:

Title:
	

________________________________

_________________Settlement Agreement

 Exhibit 10.1 
  
 SETTLEMENT AGREEMENT AND GENERAL RELEASE 
  
 This Settlement Agreement and General Release (“Agreement”) is made and entered into by and among Coach Industries
Group, Inc. and all affiliates of Coach (“Coach” or the “Company”) and John Gore (“Officer”) and all affiliates of Officer, (collectively, with Coach, the “Parties”), dated May 31st, 2005. 
  
 W I T N E S S E T H : 
  
 WHEREAS, Officer acted as Coach’s Chief Sales and Marketing
Officer, President of Coach Financial Services and served as a Director of Coach; and 
  
 WHEREAS, Officer no longer intends to act in the capacity as Coach’s Chief Sales and Marketing Officer, President of Coach Financial Services nor serve as a director of Coach; and 
  
 WHEREAS, the Parties intend to memorialize the transition of the
Officer to a different relationship with Coach, and; 
  
 NOW,
THEREFORE, in consideration of the premises and mutual promises contained herein, it is agreed as follows: 
  
 1. This Agreement is not and shall not in any way be construed as an admission by any party to this Agreement of any wrongdoing. The parties have entered
into this Agreement for the sole purpose of memorialize the transition and resolving any disputes between the Parties and to avoid the burden, expense, delay, and uncertainty of litigation. 
  
 2. In consideration of this Agreement, and in full and final settlement of
any claims which were or could have been made by any of the Parties to this Agreement, excluding any documented expenses incurred by Officer while performing his duties to the Company that are not yet paid, including but not limited to releasing
Coach from any obligations to the Officer and releasing the Officer from any Obligation to Coach, exclusive to those obligations agreed to herein, the Parties agree to the following: 
  
 (a) The Company will issue Six Hundred Thousand (600,000) shares of the Company’s common stock (the “Shares”)
to the Officer as consideration underlying this Agreement and the provisions hereunder, including but not limited to, Section 2(c) herein. The Shares may be issued to parties other than the Officer at the direction of the Officer. Further, Company
will pay to Mitchell L. Pashkin, Esq. as attorney for Officer at 25 Harriet Lane, Huntington, NY 11743 Fifty Thousand ($50,000) dollars in consideration for any and all unpaid salary. The payment will be made to the Officer by the Company within
five (5) business days from the execution of the Agreement; and 
  
 (b) Officer agrees not to stand for election to the Board of Directors; 
  
 (c) Officer agrees not to compete in the Limousine Manufacturing and Contract Settlement Processing industries for a period of three (3) years. Officer will not solicit any Coach customer for the purpose of selling a
limousine manufactured by the Officer, nor solicit any Coach employee to leave their employment with Coach, for a period of three (3) years; and 

 (d) The Company agrees to consider any previously identified compensation to the Officer for personal
guarantees null and void, and acknowledges that the Officer never received this compensation. The Company represents that it never filed with the IRS or any other taxing authority any 1099, W-2 or other document regarding the Officer’s receipt
of this compensation; and agrees at any time after this agreement upon demand to amend any such filing. Further, the Company shall use its best efforts to have terminated the personal guarantees provided by the Officer; however, in the event the
personal guarantees provided by the Officer are not terminated after ninety (90) days from the date herein, the Officer shall receive One Hundred Thousand (100,000) shares of the Company’s common stock (commencing after 90 days) for each one
million dollars guaranteed by a personal guarantee of the Officer. The Company agrees to provide monthly reporting on the status of any and all leases to the officer for any and all leases that the Officer has attached his personal guarantee no
later than ten (10) business days from the end of the calendar month. Upon the Company’s default under any agreement guaranteed by the Officer, the ownership of the portfolio of the Company under the agreement in default immediately and
automatically shall transfer to the Officer and Frank O’Donnell, as tenants in common or their assignee. 
  
 (e) Officer agrees and acknowledges that all times Officer shall not make any disparaging remarks, orally, in writing or in any other form and regardless
of the truth thereof regarding Coach, its affiliates, officers, directors, employees, agents or representatives; 
  
 (f) Coach agrees and acknowledges that all times Coach shall not make any disparaging remarks, orally, in writing or in any other form and regardless of
the truth thereof regarding the Officer and shall direct its affiliates, officers, directors, employees, agents or representatives to do the same; 
  
 (g) Officer will submit all documents and materials regarding Coach to the Company that are in the possession of Officer and agrees that such information
is confidential and proprietary to Coach. 
  
 General Release

  
 3. In consideration of the payments and undertakings
described above and in further consideration which is hereby acknowledged, the Parties to this Agreement hereby release and forever discharge each other, their predecessors, successors, assigns, affiliated companies, shareholders, administrators,
partners, officers, directors, employees, agents and attorneys from any and all claims and causes of action whatsoever, known or unknown, foreseen or unforeseen, which any party has or may have by reason of any matter, cause or thing whatsoever,
from the beginning of the world to the day of this Agreement. This Release includes but is not limited to any and all claims that were asserted pursuant to the terms and conditions of the Officer’s service to the Company. 
  
 Attorneys’ Fees 
  
 4. The Parties shall bear their own attorneys’ fees and costs.

  
 Cooperation 
  
 5. Neither Party nor individual referenced above shall take any action or
refrain from taking any action in a manner which is inconsistent with the intent and spirit of this Agreement. All Parties shall cooperate fully to implement the terms and conditions of this Agreement. This 
  

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 Agreement sets forth the entire agreement between the parties hereto and fully supercedes any and all prior agreements or
understandings between the Parties pertaining to the subject matter hereof. This Agreement may not be changed orally. 
  
 Choice of Law 
  
 6. This Agreement shall be interpreted and construed the laws of the State of Florida. 
  
 Prior Consultation 
  
 7. In signing this Agreement, the Parties expressly warrant that they have read and fully understood it. The Parties acknowledge that this Agreement is
voluntary and that no one is making or forcing any party to enter into it. All parties acknowledge that they have had an opportunity to and have consulted with an attorney before signing it. 
  
 Plain Meaning 
  
 8. This Agreement shall be interpreted in accordance with the plain meaning of its terms. 
  
 Counterparts 
  
 9. This Agreement may be executed simultaneously in counterparts, each of which shall be deemed an original, but which
collectively shall constitute one and the same instrument. 
  
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written. 
  

											
	COACH INDUSTRIES GROUP, INC.	 	 	 	 	 	OFFICER
						
	 By:
	 	 /s/ Francis O’Donnell

	 	 	 	 	 	 By:
	 	 /s/ John Gore

	 	 	 Francis O’Donnell
	 	 	 	 	 	 	 	 John Gore

	 	 	 Chief Executive Officer
	 	 	 	 	 	 	 	 

  

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