Document:

Briggs & Stratton Corporation Incentive Compensation Plan Performance Share

 BRIGGS & STRATTON CORPORATION AND SUBSIDIARIES 

2010 ANNUAL REPORT ON FORM 10-K 
  

EXHIBIT 10.9 
  

BRIGGS & STRATTON CORPORATION 

INCENTIVE COMPENSATION PLAN 

PERFORMANCE SHARE AWARD AGREMENT 

 BRIGGS & STRATTON CORPORATION 

INCENTIVE COMPENSATION PLAN 

PERFORMANCE SHARE AWARD AGREEMENT 
  

			
	 Participant:
	  	[Insert name]
	 Performance Share Award at Target:
	  	         Performance Shares
	 Performance Period:
	  	Plan Year          through Plan Year         
	 Performance Measures:
	  	Relative Total Shareholder Return (“TSR”)

  

BRIGGS & STRATTON CORPORATION (the “Company”), a Wisconsin corporation, hereby awards to the
above-named employee (the “Participant”) under The Briggs & Stratton Corporation Incentive Compensation Plan (the “Plan”) the number of performance shares at target set forth above, all in accordance with and subject to
the attached Performance Share Terms and Conditions. 
 If there is any inconsistency between this Agreement and
the Plan, the Plan shall supersede the conflicting terms and conditions of this Agreement. All capitalized terms shall have the meanings ascribed to them in the Plan, unless specifically set forth otherwise herein. 

IN WITNESS WHEREOF, this Performance Share Award Agreement has been duly executed as of August
            . 
  

					
		  	BRIGGS & STRATTON CORPORATION
			
		  	By	  	  

		  	Todd J. Teske
		  	President and CEO
		
		  	PARTICIPANT
		
	Date                    	  	  

		  	«Name»

  

 2 

 Briggs & Stratton Corporation 

Performance Share Terms and Conditions 

Section 1.  Performance Period 

The Performance Period commences on the first day of the three-year performance period stated on the first page of the
award and ends on the last day of such period. 
 Section 2.  Value of Performance Shares

 Each Performance Share has a value for purposes of this Agreement equal to one share of Stock of the Company.

 Section 3.  Performance Shares and Achievement of Performance Measures 

(a)  The number of Performance Shares to be earned under this Agreement shall be based upon the achievement of
pre-established TSR percentile ranking performance as approved by the Compensation Committee of the Company’s Board of Directors (the “Committee”) for the Performance Period, based on the following table: 

 

				
	 Total Shareholder
Return
	 
	 %ile

Ranking
	  	 % of Target

Earned
	 
	 380th
	  	200	% 
	 75th
	  	175	% 
	 70th
	  	150	% 
	 60th
	  	125	% 
	 50th
	  	100	% 
	 40th
	  	50	% 
	 <40th
	  	0	% 

(b)  Interpolation shall be used to determine the Company’s percentile ranking in the event the ranking
does not fall directly on one of the ranks listed in the above chart, by rounding to the nearest 0.1% for the Percentile Ranking and the nearest 1% for the Percent of Target Earned. 

(c)  TSR shall be determined as follows: 

 

							
	 TSR
	  	=	    	Change in Stock Price	  	
		  		    	Beginning FMV	  	

 (i)  “Beginning FMV” means the average
closing price of the Company Stock for the 20 trading days preceding the start of the Performance Period; 

 (ii)  “Ending FMV” means the average
closing price for the 20 trading days prior to the last trading day of the Performance Period; 

(iii)  “Change in Stock Price” means the difference between the Beginning FMV and
the Ending FMV plus Dividends Paid; and 
 (iv)  “Dividends Paid” means
the total of all dividends paid on one (1) share of Stock during the applicable calendar quarter(s) during the Performance Period, provided that dividends shall be treated as though they are reinvested at the end of each calendar quarter based
on the stock price at the end of each calendar quarter. 
 (d)  Following the TSR determination, the
Company’s TSR percentile ranking against the Peer Group shall be determined. Once the ranking is determined, the Performance Shares relative to the target award shall be determined based on the table in section 3(a) above. 

(e)  “Peer Group” means the companies listed below. If two companies in the Peer Group merge or one
is acquired, the new company will be included in the Peer Group. If a company merges with a company not in the Peer Group, the company will be removed and its TSR will not be included as part of the Peer Group. If a company declares bankruptcy, is
delisted or its stock otherwise ceases to be publicly traded during the Performance Period, its TSR will be included as part of the Peer Group up until the point it ceases trading, at which point no further changes in that company’s TSR for
that Performance Period shall be considered. If the same peer company emerges from bankruptcy during the Performance Period, the company will not be reinstated into the Peer Group for that Performance Period but, if it is deemed appropriate by the
Committee, will be included as part of the Peer Group for the next Performance Period. 
  

			
	 	 
	 Company
	  	Company
	 ACTUANT CORP -CL A
	  	MUELLER INDUSTRIES
	 BALDOR ELECTRIC CO
	  	MUELLER WATER PRODUCTS INC
	 BLACK & DECKER CORP
	  	NORDSON CORP
	 CLARCOR INC
	  	PALL CORP
	 CRANE CO
	  	PENTAIR INC
	 DONALDSON CO INC
	  	POLARIS INDUSTRIES, INC.
	 DOVER CORP
	  	SNAP-ON INC
	 ENPRO INDUSTRIES INC
	  	SPX CORP
	 FLOWSERVE CORP
	  	STANLEY BLACK & DECKER INC
	 GARDNER DENVER INC
	  	TIMKEN CO
	 GENERAC HOLDINGS INC
	  	TORO CO
	 IDEX CORP
	  	VALMONT INDUSTRIES INC
	 KENNAMETAL INC
	  	WATTS WATER TECHNOLOGIES INC
	 LINCOLN ELECTRIC HLDGS INC
	  	WHIRLPOOL CORP
	 MAKITA CORP -ADR
	  	

 (f)  No Participant may receive awards under the Plan covering
more than 160,000 shares of Restricted and/or Deferred Stock or more than $3 million in any fiscal year. In the event that the maximum number of Performance Shares that may be issued under this Agreement, when combined with any other awards to the
Participant for a fiscal year, would cause the Participant to exceed either limit, the maximum number of Performance Shares that may be issued to the Participant shall be reduced so that both limits are met. The number of Performance Shares subject
to such reduction shall be paid to the Participant in the following fiscal year if the Participant continues in employment for 12 months, provided that any payment in the following fiscal year shall also be subject to the foregoing limits and, if
either limit would be exceeded, the same process shall be repeated until the shares can be issued without exceeding the limits of the Participant’s employment is terminated. 

Section 4.  Covenant of Non-Disclosure, Non-Solicitation and Non-Competition 

4.1  Non-Competition During Employment.  The Participant agrees during his/her employment with
the Company he/she shall not, directly or indirectly, either individually or as an employee, agent, partner, shareholder, consultant or in any other capacity, participate in, engage in or have a financial or other interest in any business which is
in competition with the Company or any successor or assignee of the Company. The ownership of less than 1% of the outstanding securities of a publicly-traded company or 20% of a private company’s securities or profits, even though that
corporation may be a competitor of the Company, shall not be deemed financial participation in a competitor. 

4.2  Non-Competition After Employment.  The Participant agrees that, upon voluntary or
involuntary termination of employment with the Company and for a period of two (2) years thereafter, he/she will not, directly or indirectly, individually or as an employee, agent, partner, shareholder, consultant, or in any other capacity,
canvass, contact, solicit or accept any of the Company’s customers with whom the Participant had contact during the two (2) year period preceding his/her termination for the purpose of providing services, products or business that are in
competition with the services, products or business which the Company provides to such customers. It is understood and agreed that the fluid customer list limitation contemplated by the parties closely approximates the area of the Company’s
vulnerability to unfair competition by Participant and does not deprive Participant of legitimate competitive opportunities to which he/she is entitled. 

4.3  Impairment of Company’s Relationships.  The Participant further agrees that during
the term of his/her employment and for a period of two (2) years thereafter, he/she will not interfere with or attempt to impair the relationship between the Company and any of its employees nor will the Participant attempt, directly or
indirectly, to solicit, entice, or otherwise induce any other employee to terminate his/her association with the Company. The term “solicit, entice or induce” includes, but is not limited to, the following: (a) initiating
communications with an employee of the Company relating to possible employment; (b) offering bonuses or additional compensation to encourage employees of the Company to terminate their employment and accept employment with a competitor,
supplier or customer of the Company; (c) referring employees of the Company to personnel or agents employed or engaged by competitors, 

 
suppliers or customers of the Company; or (d) referring personnel or agents employed or engaged by competitors, suppliers or customers of the Company to employees of the Company. 

4.4.  Non-Disclosure of Information. 

(a)    Confidential Information.    As used in this Agreement,
“Confidential Information” shall mean any and all information whether generated by the Company or by a third party at the Company’s request, disclosed by the Company to Participant during the period of the Participant’s employ
with the Company, including, without limitation, trade secrets, design documents, copyright material, inventions, technology, processes, marketing data, business strategies, financial information and records, product information (including, without
limitation, any product designs, specifications, capabilities, drawings, diagrams, blueprints, models and similar items), customer and prospective customer lists, supplier and vendor lists, product pricing formulas, software and similar information,
in any form (whether oral, electronic, written, graphic or other printed form or obtained from access to or observation of the Company’s facilities or operations). Confidential Information does not include information or data which is:

 (1)    at the time of disclosure, or thereafter becomes, available to the general public
by publication or otherwise through (i) no fault or negligence of the Participant or (ii) no breach of this Agreement by Participant; 

(2)  in the possession of the Participant prior to disclosure thereof by the Company as evidenced by written
records of the Participant prepared prior to the date of disclosure of such information to the Participant; 

(3)  independently developed by the Participant without the benefit of any of the Confidential Information as
evidenced by the written records of the Participant prepared to the date of disclosure of such information to the Participant; or 

(4)    disclosed to Participant by a third party having no obligation of confidentiality to the
Company with respect to the information so disclosed. 
 (b)  Trade
Secrets.  The parties also acknowledge that certain of the Company’s Confidential Information is a trade secret (“Trade Secret”) as that term is defined in Sec. 134.90(1)(c) of the Wisconsin Uniform Trade Secrets
Act, i.e. information, including a formula, pattern, compilation, program, device, method, technique or process, that (i) derives independent economic value, actual or potential, from not being generally known to, and not being readily
ascertainable by proper means by other persons who can obtain economic value from its disclosure, and (ii) is the subject of efforts that are reasonable under the circumstance to maintain its secrecy. 

(c)    Disclosure of Confidential Information.    Except as
required in the performance of his or her duties of employment, and for a period of two (2) years following the termination of his or her employment with the Company, Participant shall not disclose to a third party or use any of the
Company’s Confidential Information and shall not remove any of the 

 
Company’s Confidential Information in any form or media from the Company’s offices, unless he or she first obtains the written consent of the Company. 

(d)  Disclosure of Trade Secrets.  Participant shall never disclose to a third party
or use any of the Company’s Trade Secrets and shall not remove any of the Company’s Trade Secrets in any form or media from the Company’s offices, unless he or she first obtains the written consent of the Company. The parties
acknowledge that this obligation has no termination date. 
 4.5  Waiver of Unintended
Effects.  It is not the purpose of the Agreement to preclude Participant from engaging in employment that is not competitive with the Company, does not pose a competitive threat to the Company, and does not interfere with the
Company’s protectable business interests. If during the term of this Agreement Participant wishes to engage in a business that may involve a violation of the literal terms of this Agreement but Participant believes it will not pose a
competitive threat to the Company, Participant agrees to submit to the Company in writing a request to engage in this business. Any such request must specifically refer to this Agreement. The Company agrees that it will respond to the request with
reasonable promptness and that it will not unreasonably withhold permission to engage in the business specified in the request, regardless of the terms of this Agreement, if the business sought to be engaged in is not competitive with that of the
Company and does not pose a competitive threat to the Company. Any such permission granted by the Company must be in writing, shall extend only to the business specifically identified in Participant’s written request, and shall not otherwise
constitute a wavier of the Company’s rights under this Agreement. 
 4.6.  Common Law of Torts
and Trade Secrets.  The parties agree that nothing in this Agreement shall be construed to limit or negate the common law of torts or trade secrets where it provides the Company with broader protection than that provided herein.

 Section 5.  Termination Provisions 

(a)  Except as provided below, the Participant shall be eligible for payment of awarded Performance Shares as
determined in section 3 only if the Participant’s employment with the Company continues through the end of the Performance Period. 

(b)  If the Participant’s employment with the Company terminates prior to the end of the Performance
Period by reason of the occurrence of such Participant’s Disability or death, a pro-rated payment will be provided. In the event of Disability, the pro-rated payment will be computed as of the end of the Performance Period. The proration shall
be based on the number of full months that the Participant was employed during the Performance Period prior to the Disability. In the event of death, TSR and the corresponding percentile ranking will be computed as of the end of the Company’s
fiscal quarter subsequent to the date of death. The proration shall be based on the number of full months that the Participant was employed during the Performance Period prior to death. The number of earned shares, if any, shall be delivered to the
estate of the Participant as soon as practicable after the computations described above. 

 (c)  If the Participant’s employment with the Company
terminates prior to the end of the Performance Period by reason of Normal Retirement or Early Retirement, or if the Participant’s employment with the Company terminates without cause, the Committee, in its sole discretion and taking into
consideration the performance of the Participant and the performance of the Company during the Performance Period, may authorize payment to the Participant (or his legal representative) at the end of the Performance Period of all or any portion of
the Performance Share award which would have been paid to the Participant for such Performance Period. 

(d)  If the Committee determines that (i) the Participant has breached any of the obligations stated in
section 4 of the Agreement during the Performance Period or (ii) the Performance Shares were awarded with respect to (A) a Plan Year for which there has been a material restatement of the Company’s annual report to the SEC due to
negligence or misconduct by one or more persons or (B) any subsequent Plan Year having awards materially affected by the restatement, the Company shall be entitled to declare all or any portion of any Performance Shares awarded under this
Agreement to be forfeited. 
 Section 6.  Dividends 

The Participant shall have no right to any dividends which may be paid with respect to shares of Company Stock until any
such shares are paid to the Participant following the completion of the Performance Period. However, any dividends declared during the Performance Period shall be credited to the Performance Shares and shall be reinvested as additional Performance
Shares subject to this Agreement on the date the dividends are paid. 
 Section 7.  Form and
Timing of Payment of Performance Shares 
 (a)  The Performance Shares as finally calculated
herein shall be paid to the Participant no later than two and one-half months after the end of the Performance Period, subject to the following: 

(i)  The Participant shall have no right with respect to any award until such award shall be
paid to such Participant. 
 (ii)  The number of Performance Shares paid to the
Participant shall be rounded up or down to the nearest 10 shares. 
 (b)  Performance Shares awarded,
if any, will only be paid out in shares of Company Stock. 

Section 8.  Nontransferability 

Performance Shares may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by
will or by the laws of descent and distribution. Further, except as otherwise provided in this Agreement, the Participant’s rights under the Plan shall be exercisable during the Participant’s lifetime only by the Participant or the
Participant’s legal representative. 

 Section 9.  Administration 

This Agreement and the rights of the Participant hereunder are subject to all the terms and conditions of the Plan as
amended from time to time, as well as such rules and regulations as the Committee may adopt for administration of the Plan. It is expressly understood that the Committee is authorized to administer, construe, and make all determinations necessary or
appropriate to the administration of the Plan and this Agreement, all of which shall be binding upon the Participant. Any inconsistency between the Agreement and the Plan shall be resolved in favor of the Plan. 

Section 10.  Miscellaneous 

(a)  This Agreement shall not give the Participant any right to be retained in the employ of the Company. The
right and power of the Company to dismiss or discharge the Participant is specifically reserved. The Participant or any person claiming under or through the Participant shall not have any right or interest in the Plan or any award thereunder, unless
and until all terms, conditions, and provisions of the Plan that affect the Participant have been complied with as specified herein. 

(b)  This Agreement shall be subject to all applicable laws, rules, and regulations, and to such approvals by
any governmental agencies or national securities exchanges as may be required. To the extent not preempted by federal law, this Agreement shall be governed by, and construed in accordance with, the laws of the State of Wisconsin. 

(c)  The Company shall have the power and right to deduct or withhold, or require the Participant to remit to
the Company, the minimum statutory amount to satisfy federal, state, and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising under this Agreement. With respect to withholdings
required upon payment of Company Stock in satisfaction of all of the Performance Shares awarded, the Company will withhold Company Stock having an aggregate Fair Market Value on the date the tax is to be determined equal to the minimum statutory
total tax that could be imposed on the transaction. 
 (d)  In the event of a Change in Control, the
Performance Period will be deemed to have ended. TSR will be computed as of the last trading day preceding the date of the Change in Control, and awards will be paid on a pro rata basis. Such deemed earned Performance Shares shall be paid out as
soon as practicable.Amendment to the Briggs & Stratton Product Program

 BRIGGS & STRATTON CORPORATION AND SUBSIDIARIES 

2010 ANNUAL REPORT ON FORM 10-K 

EXHIBIT 10.17(a) 

AMENDMENT TO THE BRIGGS & STRATTON 

PRODUCT PROGRAM 

The Board of Directors approved the elimination of the tax gross up on the purchase of company products. The directors
will continue to receive up to $10,000 annually for the purchase of company products.

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