Document:

Exhibit

EXHIBIT 10.1

Thomas G. Musial
2400 S. 44th Street
P.O. Box 66
Manitowoc, WI  54221-0066

April 26, 2016

David  Antoniuk
77 Goldfinch Circle
Phoenixville, PA 19460

Dear David:
This is to confirm our offer of employment accepted by you today.  As Chief Financial Officer for Manitowoc Cranes, you are scheduled to report to Barry Pennypacker, President and CEO of Manitowoc Cranes at a starting salary of $490,000.00 per year with a tentative starting date of May 31, 2016.
  
This offer is contingent upon your passing the Company pre-employment drug and background screens and the return of a signed copy of the following agreements:

		
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	Non-Solicitation Agreement 

		
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	Non-Disclosure/Confidentiality Agreement

In addition to your starting salary, as dictated by the applicable plan or program, all of which are subject to change from time to time, you will be eligible to participate in the Manitowoc benefit programs listed below:
		
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	Immediate participation in The Manitowoc Company 401 (k) Retirement Plan.

		
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	The company will match your contributions to your 401(k) Retirement Plan as follows:

		
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	100% company matching contribution on the first 3% of pay that you contribute.

		
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	50% company matching contribution on the next 2% of pay that you contribute.

In addition to the 401(k) match described above, you may receive an annual company retirement contribution if you participate in the Company 401(k) Plan and if the company meets certain financial targets.  The payment formula for 2016 is based on your level of deferral contribution and how the Company performs relative to established criteria. 

		
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	Participation in the Manitowoc Company, Inc. Short Term Incentive Plan (STIP) effective on your date of hire. Your target bonus is 75% of your eligible earnings (your prorated earnings during your first year of employment with Manitowoc) for meeting 100% of the (STIP) Target in your first year with Manitowoc.   The Plan allows for payment beyond the target percent up to 200% of your job’s targeted percent, which would be equivalent to 150% of your eligible earnings.  In addition, in accordance with the Manitowoc Short-Term Incentive Plan, you must remain employed with Manitowoc through the end of the Plan/calendar year in order to receive a payout.  

		
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	Upon commencement of your employment with the Company, you will be granted an initial award of restricted stock units under the Company’s 2013 Omnibus Incentive Plan.  The fair market value of the restricted stock units comprising the initial award will equal $500,000 -- determined in the same manner that grant value (and the number of restricted stock units awarded) was determined for the annual grants to other executive officers of the Company for 2016.  This initial grant would be made shortly after your start date.  The restricted stock units awarded under this section shall vest 100% in three year on the anniversary of the grant date.  These restricted stock units will be administered by Charles Schwab as all Company grants. 

   
		
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	Positions at this level have historically been eligible for our equity grant review by The Manitowoc Company Board of Directors. For this role, your long term incentive award grant target is Seven Hundred Ninety-One Thousand Dollars ($791,000.00) per year.  The past practice has been to approve the grants during the Board meeting in late February.  All grants are determined by the Company’s board of directors and are subject to the terms of an award agreement consistent with award agreements provided to other Manitowoc Cranes executives, including similar vesting and performance 

conditions.  However, you will receive a pro-rata  2016 grant equivalent to $462,000 in value of which 50% will be delivered in non-qualified stock options and 50% in performance shares. This initial grant would be made shortly after your start date as well. 
 
		
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	You will be provided a two year (Double Trigger) Change in Control Agreement upon hire.

		
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	In addition, you are eligible to participate in the Deferred Compensation Plan.  Attached are details of the plan as in effect today.  To participate in the Deferred Compensation Plan, complete the deferral agreement and return to Nancy Musial, Human Resources Manager, P. O. Box 66, Manitowoc, WI  54221-0066. 

            
		
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	The first day of the month after a one calendar month waiting period, you will be eligible for the Company Life Insurance, Health Coverage, Vision Care Plan, Flexible Spending Account, and Dental Plan (Plan 1 or Plan 2).  The costs below are the 2016 biweekly pretax deductions: 

	
			
	 
	Bi-weekly Employee Contribution

	 
	Medical, Dental Plan 1, Vision
	Medical, Dental Plan 2, Vision

	Employee Only
	$60.52
	N/A

	Employee + Child
	$111.96
	$118.24

	Employee + Spouse
	$160.44
	$166.72

	Employee + Children
	$164.84
	$172.46

	Employee + Family
	$235.96
	$243.58

		
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	The Company currently observes 11 paid holidays per year.

		
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	Vacation policy is as follows*:

3 Weeks     -      Effective upon hire date in 2016**
4 Weeks     -      Effective January 1, 2017**
5 Weeks    -    After twenty-five (25) full years of continuous service
* should either you or the Company terminate your employment for any reason during the first calendar year of employment, any unused vacation will be forfeited
** The normal company policy is 2 weeks of vacation upon date of hire; however, the company will offer an accelerated vacation schedule consisting of three weeks of vacation eligibility beginning 2016 and four weeks each year thereafter, until the next level is reached per the normal schedule (five weeks after twenty-five years of continuous service).

You will be eligible for relocation services provided per enclosed Corporate Policy 905E The Employee Reimbursement Agreement and the Relocation Benefits Authorization Form must be completed and returned to my attention to initiate the relocation process.

We’re proud of the way we’ve built a strong, values-based organization and continue to do the right thing in all our actions and decisions.  That’s why we’ve enclosed our policies regarding the Company’s commitment to Global Ethics in order to help you become familiar with how we do business at Manitowoc. Please review these policies and return the Global Ethics Certification on your first day of employment.  Additional materials will be provided to you on your first day of employment regarding the Company’s policies and procedures.

While we hope you accept our offer, nothing in this letter should be construed as creating an employment contract or guaranteeing any benefit for a definite period of time, as all employees of the Company are employed at-will.  

We look forward to you accepting your new role and building a successful future with the Manitowoc team.  Should you have any questions or desire any additional information, please feel free to call me at 1.920.652.1738 (office) or 1.920.860.0484 (cell).

This offer is valid until May 2, 2016.  If you intend to accept this offer, please sign below and return a copy of this offer to me by that date, along with signed copies of the documents identified above.  

Sincerely,

THE MANITOWOC COMPANY, INC. 
	
	
	/s/ Thomas G. Musial

Thomas G. Musial 
SVP Human Resources & Administration 

    
Accepted By:

	
			
	/s/ David Antoniuk
	 
	April 27, 2016

	 David Antoniuk
	 
	Date

    
Cc: Barry PennypackerExhibit

DIRECTOR RESTRICTED STOCK UNIT AWARD AGREEMENT 
This Agreement is entered into as of January 1, 2016, between Northwest Natural Gas Company, an Oregon corporation (the “Company”), and _________________ (“Recipient”).
Pursuant to the Company’s Non-Employee Director Compensation Policy, the Organization and Executive Compensation Committee (the “Committee”) of the Company’s Board of Directors (the “Board”) has awarded restricted stock units to Recipient pursuant to Section 6 of the Company’s Long Term Incentive Plan (the “Plan”).  Recipient desires to accept the award subject to the terms and conditions of this Agreement.
NOW, THEREFORE, the parties agree as follows:
1.Grant of Restricted Stock Units.  Subject to the terms and conditions of this Agreement, the Company hereby grants to the Recipient ____ restricted stock units (the “RSUs”).  The grant of RSUs obligates the Company, upon vesting in accordance with this Agreement, to deliver to the Recipient one share of Common Stock of the Company (a “Share”) for each RSU.  The RSUs do not include a right to any dividend equivalent cash payments.  The RSUs are subject to forfeiture as set forth in Section 2.5 below.
2.Vesting; Forfeiture Restriction.
1.Vesting Schedule.  All of the RSUs shall initially be unvested.  Subject to Sections 2.2, 2.3, and 2.5, all of the RSUs shall vest on the day before the date of the Company’s 2016 annual meeting of shareholders.
2.Effect of Death or Disability.  If Recipient’s service as a director of the Company terminates because of death or physical disability (within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986 (the “Code”)), all of the RSUs shall immediately vest.
3.Acceleration on Change in Control.  All of the RSUs shall immediately vest if a Change in Control (as defined in Section 2.4 below) occurs.
4.Change in Control.  For purposes of this Agreement, a “Change in Control” of the Company shall mean the occurrence of any of the following events:
(a)    The consummation of:
(1)    any consolidation, merger or plan of share exchange involving the Company (a “Merger”) as a result of which the holders of outstanding securities of the Company ordinarily having the right to vote for the election of directors (“Voting Securities”) immediately prior to the Merger do not continue to hold at least 50% of the combined voting power of the outstanding Voting Securities of the surviving corporation or a parent corporation of the surviving corporation immediately after the Merger, disregarding any Voting Securities issued to or retained by such holders in respect of securities of any other party to the Merger; or
(2)    any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all, or substantially all, the assets of the Company;
(b)    At any time during a period of two consecutive years, individuals who at the beginning of such period constituted the Board (“Incumbent Directors”) shall cease for any reason to constitute at least a majority thereof; provided, however, that the term “Incumbent Director” shall also include each new director elected during such two-year period whose nomination or election was approved by two-thirds of the Incumbent Directors then in office; or 

(c)    Any person (as such term is used in Section 14(d) of the Securities Exchange Act of 1934, other than the Company or any employee benefit plan sponsored by the Company) shall, as a result of a tender or exchange offer, open market purchases or privately negotiated purchases from anyone other than the Company, have become the beneficial owner (within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934), directly or indirectly, of Voting Securities representing twenty percent (20%) or more of the combined voting power of the then outstanding Voting Securities.
5.Forfeiture; Possible Restoration.  If Recipient ceases to be a director of the Company for any reason or for no reason, with or without cause, other than because of death or physical disability (within the meaning of Section 22(e)(3) of the Code), any RSUs that did not vest pursuant to this Section 2 at or prior to the time of such termination of board service shall be forfeited to the Company.
3.Delivery.  As soon as practicable after the RSUs become vested, the Company shall deliver to Recipient the number of Shares underlying the RSUs.  Notwithstanding the foregoing, if Recipient shall have made a valid election to defer receipt of the Shares underlying the RSUs pursuant to the terms of the Company’s Deferred Compensation Plan for Directors and Executives (the “DCP”), payment of the award shall be made in accordance with that election.
4.Changes in Capital Structure.
1.If, prior to the vesting of the RSUs granted under this Agreement, the outstanding Common Stock of the Company is increased or decreased or changed into or exchanged for a different number or kind of shares or other securities of the Company by reason of any stock split, combination of shares or dividend payable in shares, recapitalization or reclassification, appropriate adjustment shall be made by the Committee in the number and kind of shares subject to the unvested RSUs so that Recipient’s proportionate interest before and after the occurrence of the event is maintained.  Notwithstanding the foregoing, the Committee shall have no obligation to effect any adjustment that would or might result in the issuance of fractional shares, and any fractional shares resulting from any adjustment may be disregarded or provided for in any manner determined by the Committee.  Any such adjustments made by the Committee shall be conclusive.
2.If the outstanding Common Stock of the Company is hereafter converted into or exchanged for all of the outstanding Common Stock of a corporation (the “Parent Successor”) as part of a transaction (the “Transaction”) in which the Company becomes a wholly-owned subsidiary of Parent Successor, then (a) the obligations under this Agreement shall be assumed by Parent Successor and references in this Agreement to the Company shall thereafter generally be deemed to refer to Parent Successor, (b) Common Stock of Parent Successor shall be issued in lieu of Common Stock of the Company under this Agreement, (c) service as a director of the Company for purposes of Section 2 of this Agreement shall include service as a director of either the Company or Parent Successor.
5.Approvals.  The issuance by the Company of authorized and unissued shares or reacquired shares under this Agreement is subject to the approval of the Oregon Public Utility Commission and the Washington Utilities and Transportation Commission, but no such approvals shall be required for the purchase of shares on the open market for delivery to Recipient in satisfaction of its obligations under this Agreement.  The obligations of the Company under this Agreement are otherwise subject to the approval of state and federal authorities or agencies with jurisdiction in the matter.  The Company will use its best efforts to take steps required by state or federal law or applicable regulations, including rules and regulations of the Securities and Exchange Commission and any stock exchange on which the Company’s shares may then be listed, in connection with the award under this Agreement.  The foregoing notwithstanding, the Company shall not be obligated to issue or deliver Common Stock under this Agreement if such issuance or delivery would violate applicable state or federal law.

6.Miscellaneous.
1.Entire Agreement; Amendment.  This Agreement constitutes the entire agreement of the parties with regard to the subjects hereof and may be amended only by written agreement between the Company and Recipient.
2.Notices.  Any notice required or permitted under this Agreement shall be in writing and shall be deemed sufficient when delivered personally to the party to whom it is addressed or when deposited into the United States Mail as registered or certified mail, return receipt requested, postage prepaid, addressed to the Company, Attention:  Corporate Secretary, at its principal executive offices or to Recipient at the address of Recipient in the Company’s records, or at such other address as such party may designate by ten (10) days’ advance written notice to the other party.
3.Assignment; Rights and Benefits.  Recipient shall not assign this Agreement or any rights hereunder to any other party or parties without the prior written consent of the Company.  The rights and benefits of this Agreement shall inure to the benefit of and be enforceable by the Company’s successors and assigns and, subject to the foregoing restriction on assignment, be binding upon Recipient’s heirs, executors, administrators, successors and assigns.
4.Further Action.  The parties agree to execute such further instruments and to take such further action as may reasonably be necessary to carry out the intent of this Agreement.
5.Applicable Law; Attorneys’ Fees.  The terms and conditions of this Agreement shall be governed by the laws of the State of Oregon.  In the event either party institutes litigation hereunder, the prevailing party shall be entitled to reasonable attorneys’ fees to be set by the trial court and, upon any appeal, the appellate court.
6.Counterparts.  This Agreement may be executed in two or more counterparts, each of which shall be deemed an original.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.  
NORTHWEST NATURAL GAS COMPANY 

By: _________________________________        

Title    Chief Executive Officer

__________________

_________________________________

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