Document:

Exhibit 10.1

Exhibit 10.1

LINDSAY CORPORATION

2010 LONG-TERM INCENTIVE PLAN

(Effective January 25, 2010)

1. Purpose. The purpose of the Lindsay Corporation 2010 Long-Term Incentive Plan (the “Plan”)
is to attract and retain employees and directors for Lindsay Corporation and its subsidiaries and
to provide such persons with incentives and rewards for superior performance.

2. Definitions. As used in this Plan, the following terms shall be defined as set forth
below:

2.1 “Award” means any Options, Stock Appreciation Rights, Restricted Shares, Deferred
Shares (Restricted Stock Units), Performance Shares or Performance Units granted under the
Plan.

2.2 “Award Agreement” means an agreement, certificate, resolution or other form of
writing or other evidence approved by the Committee which sets forth the terms and
conditions of an Award. An Award Agreement may be in an electronic medium, may be limited
to a notation on the Company’s books and records and, if approved by the Committee, need
not be signed by a representative of the Company or a Participant.

2.3 “Base Price” means the price to be used as the basis for determining the Spread
upon the exercise of a Freestanding Stock Appreciation Right.

2.4 “Board” means the Board of Directors of the Company.

2.5 “Code” means the Internal Revenue Code of 1986, as amended from time to time.

2.6 “Committee” means the committee of the Board described in Section 4.

2.7 “Company” means Lindsay Corporation, a Delaware corporation, or any successor
corporation.

2.8 “Deferral Period” means the period of time during which Deferred Shares
(Restricted Stock Units) are subject to deferral limitations under Section 8.

2.9 “Deferred Shares” or “Restricted Stock Units” means an Award pursuant to Section
8 of the right to receive Shares at the end of a specified Deferral Period.

2.10 “Employee” means any person, including an officer, employed by the Company or a
Subsidiary.

2.11 “Fair Market Value” means the fair market value of the Shares as determined by
the Committee from time to time. Unless otherwise determined by the Committee, the fair
market value shall be the closing price for the Shares reported on a consolidated basis on
the New York Stock Exchange on the relevant date or, if there were no sales on such date,
the closing price on the nearest preceding date on which sales occurred.

2.12 “Freestanding Stock Appreciation Right” means a Stock Appreciation Right granted
pursuant to Section 6 that is not granted in tandem with an Option or similar right.

2.13 “Grant Date” means the date specified by the Committee on which a grant of an
Award shall become effective, which shall not be earlier than the date on which the
Committee takes action with respect thereto.

2.14 “Incentive Stock Option” means any Option that is intended to qualify as an
“incentive stock option” under Code Section 422 or any successor provision.

2.15 “Nonemployee Director” means a member of the Board who is not an Employee.

 

 

 

2.16 “Nonqualified Stock Option” means an Option that is not intended to qualify as
an Incentive Stock Option.

2.17 “Option” means any option to purchase Shares granted under Section 5.

2.18 “Optionee” means the person so designated in an agreement evidencing an
outstanding Option.

2.19 “Option Price” means the purchase price payable upon the exercise of an Option.

2.20 “Participant” means an Employee or Nonemployee Director who is selected by the
Committee to receive benefits under this Plan, provided that only Employees shall be
eligible to receive grants of Incentive Stock Options.

2.21 “Performance Objectives” means the performance objectives established pursuant
to this Plan for Participants who have received Awards. Performance Objectives may be
described in terms of Company-wide objectives or objectives that are related to the
performance of the individual Participant or the Subsidiary, division, department or
function within the Company or Subsidiary in which the Participant is employed.
Performance Objectives may be measured on an absolute or relative basis. Relative
performance may be measured by a group of peer companies or by a financial market index.
Any Performance Objectives applicable to a Qualified Performance–Based Award shall be
limited to specified levels of or increases in the Company’s or Subsidiary’s return on
equity, earnings per share, total earnings, earnings growth, return on capital, return on
assets, earnings before interest, taxes, depreciation and/or amortization, sales, sales
growth, gross margin, return on investment, increase in the fair market value of the
Shares, share price (including but not limited to, growth measures and total stockholder
return), operating income or profit, net earnings, cash flow (including, but not limited
to, operating cash flow and free cash flow), cash flow return on investment (which equals
net cash flow divided by total capital), inventory turns, financial return ratios, total
return to shareholders, market share, earnings measures/ratios, economic or incremental
value added, economic profit, balance sheet measurements such as receivable turnover,
internal rate of return, increase in net present value or expense targets, working capital
measurements (such as average working capital divided by sales), customer or dealer
satisfaction surveys and productivity. Any Performance Objectives may provide for
adjustments to exclude the impact of any significant acquisitions or dispositions of
businesses by the Company, one-time non-operating charges, or accounting changes
(including the early adoption of any accounting change mandated by any governing body,
organization or authority). Except in the case of a Qualified Performance–Based Award, if
the Committee determines that a change in the business, operations, corporate structure or
capital structure of the Company, or the manner in which it conducts its business, or
other events or circumstances render the Performance Objectives unsuitable, the Committee
may modify such Performance Objectives or the related minimum acceptable level of
achievement, in whole or in part, as the Committee deems appropriate and equitable. In
the case of a Qualified Performance-Based Award, any such modifications may not increase
the amount payable under such Award.

2.22 “Performance Period” means a period of time established under Section 9 within
which the Performance Objectives relating to Performance Shares, Performance Units,
Deferred Shares (Restricted Stock Units) or Restricted Shares are to be achieved.

2.23 “Performance Share” means a bookkeeping entry that records the equivalent of one
Share awarded pursuant to Section 9.

2.24 “Performance Unit” means a bookkeeping entry that records a unit equivalent to
$1.00 awarded pursuant to Section 9.

2.25 “Predecessor Plan” means the Lindsay Manufacturing Co. 2006 Long-Term Incentive
Plan.

2.26 “Qualified Performance–Based Award” means an Award or portion of an Award that
is intended to satisfy the requirements for “qualified performance–based compensation”
under Code Section 162(m). The Committee shall designate any Qualified Performance–Based
Award as such at the time of grant.

2.27 “Restricted Shares” means Shares granted under Section 7 subject to a
substantial risk of forfeiture.

 

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2.28 “Shares” means shares of the Common Stock of the Company, $1.00 par value, or
any security into which Shares may be converted by reason of any transaction or event of
the type referred to in Section 11.

2.29 “Spread” means, in the case of a Freestanding Stock Appreciation Right, the
amount by which the Fair Market Value on the date when any such right is exercised exceeds
the Base Price specified in such right or, in the case of a Tandem Stock Appreciation
Right, the amount by which the Fair Market Value on the date when any such right is
exercised exceeds the Option Price specified in the related Option.

2.30 “Stock Appreciation Right” means a right granted under Section 6, including a
Freestanding Stock Appreciation Right or a Tandem Stock Appreciation Right.

2.31 “Subsidiary” means a corporation or other entity in which the Company has a
direct or indirect ownership or other equity interest, provided that for purposes of
determining whether any person may be a Participant for purposes of any grant of Incentive
Stock Options, “Subsidiary” means any corporation (within the meaning of the Code) in
which the Company owns or controls directly or indirectly more than 50 percent of the
total combined voting power represented by all classes of stock issued by such corporation
at the time of such grant.

2.32 “Tandem Stock Appreciation Right” means a Stock Appreciation Right granted
pursuant to Section 6 that is granted in tandem with an Option or any similar right
granted under any other plan of the Company.

3. Shares Available Under the Plan.

3.1 Reserved Shares. Subject to adjustments as provided in Sections 3.2, 3.5 and 11,
the maximum number of Shares that may be (i) issued or transferred upon the exercise of
Options or Stock Appreciation Rights, (ii) awarded as Restricted Shares and released from
substantial risk of forfeiture, (iii) issued or transferred in payment of Deferred Shares
(Restricted Stock Units) or Performance Shares, or (iv) issued or transferred in payment
of dividend equivalents paid with respect to Awards, shall not in the aggregate exceed
400,000 Shares, provided that, in addition, the Shares which remain available for Awards
under the Predecessor Plan on the effective date of this Plan (but not to exceed 35,000
Shares) shall also be available for Awards under this Plan. Such Shares may be Shares of
original issuance, Shares held in Treasury, or Shares that have been reacquired by the
Company.

3.2 Accounting for Shares. For purposes of Section 3.1, the following rules will
apply for counting Shares issued or transferred under the Plan:

(a) If an Award (other than a Dividend Equivalent) is denominated and payable in
Shares, the number of Shares covered by such Award, or to which such Award relates,
shall be counted on the date of grant of such Award against the aggregate number of
Shares available for granting Awards under the Plan.

(b) With respect to Performance Shares (including Awards described as
performance stock units) which are payable in Shares, the target number of
Performance Shares shall be counted on the date of grant of such Award against the
aggregate number of Shares available for granting Awards under the Plan. If more
than the target number of Performance Shares is issued in satisfaction of such Award,
the difference will be added to the number of Shares counted against the aggregate
number of Shares available for granting Awards under the Plan at the time when the
Award is settled in Shares. If less than the target number of Performance Shares is
issued in satisfaction of such Award, the difference will be added back to the number
of Shares available for granting Awards under the Plan at the time when the Award is
settled in Shares.

(c) Dividend Equivalents denominated in Shares and Awards not denominated, but
potentially payable, in Shares shall be counted against the aggregate number of
Shares available for granting Awards under the Plan in such amount and at such time
as the Dividend Equivalents and such Awards are settled in Shares; provided, however,
that Awards that operate in tandem with (whether granted simultaneously with or at a
different time from), or that are substituted for, other Awards may only be counted
once against the aggregate number of Shares available, and the Committee shall adopt
procedures, as it deems appropriate, in order to avoid double counting.

 

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(d) Any Shares that are delivered by the Company, and any Awards that are
granted by, or become obligations of, the Company through the assumption by the
Company of, or in substitution for, outstanding awards previously granted by an
acquired company, shall not be counted against the Shares available for granting
Awards under this Plan.

(e) Notwithstanding anything herein to the contrary, any Shares related to
Awards which terminate by expiration, forfeiture, cancellation, or otherwise without
the issuance of such Shares, are settled in cash in lieu of Shares, or are exchanged
with the Committee’s permission, prior to the issuance of Shares, for Awards not
involving Shares, shall be available again for grant under this Plan.

(f) Shares subject to an Award under the Plan will be treated as having been
issued and transferred and may not again be made available for issuance under the
Plan if such Shares are: (i) Shares that were subject to an Option or a stock-settled
Stock Appreciation Right and were not issued upon the net settlement or net exercise
of such Option or Stock Appreciation Right, (ii) Shares delivered to the Company to
pay the Option Price upon exercise of an Option, (iii) Shares delivered to or
withheld by the Company to satisfy withholding taxes, or (iv) Shares repurchased on
the open market with the proceeds of an Option exercise.

3.3 ISO Maximum. In no event shall the number of Shares issued upon the exercise of
Incentive Stock Options exceed 400,000 Shares, subject to adjustment as provided in
Section 11.

3.4 Maximum Awards. No Participant may receive Awards representing more than 350,000
Shares in any rolling 36-month period, subject to adjustment as provided in Section 11.
In addition, the maximum number of Performance Units that may be granted to a Participant
in any rolling 36-month period is 5,000,000.

3.5 Expired, Forfeited and Unexercised Awards. If any Award granted under this Plan
expires, is forfeited or becomes unexercisable for any reason without having been
exercised or paid in full, the Shares subject thereto which were not exercised or paid in
full shall be available for future Awards under the Plan. Likewise, if any Award that was
outstanding on December 3, 2009 under the Company’s Predecessor Plan or 2001 Long-Term
Incentive Plan expires, is forfeited or becomes unexercisable for any reason without
having been exercised or paid in full, the Shares subject thereto which were not exercised
or paid in full shall be added to the number of Shares which are available for Awards
under Section 3.1. An Award of Performance Shares (including Awards described as
performance stock units) shall be treated as not having been paid in full whenever less
than the target number of Performance Shares is issued in satisfaction of such Award, and
the difference will be added to the number of Shares available for Awards under Section
3.1.

4. Plan Administration.

4.1 Board Committee Administration. This Plan shall be administered by the
Compensation Committee appointed by the Board from among its members, provided that the
full Board may at any time act as the Committee. The interpretation and construction by
the Committee of any provision of this Plan or of any Award Agreement and any
determination by the Committee pursuant to any provision of this Plan or any such
agreement, notification or document shall be final and conclusive. No member of the
Committee shall be liable to any person for any such action taken or determination made in
good faith. It is intended that the Compensation Committee will consist solely of persons
who, at the time of their appointment, each qualified as a “Non-Employee Director” under
Rule 16b-3(b)(3)(i) promulgated under the Securities Exchange Act of 1934 and, to the
extent that relief from the limitation of Code Section 162(m) is sought, as an “Outside
Director” under Section 1.162-27(e)(3)(i) of the Treasury Regulations issued under Code
Section 162(m).

4.2 Committee Delegation. The Committee may delegate to one or more officers of the
Company the authority to grant Awards to Participants who are not directors or executive
officers of the Company, provided that the Committee shall have fixed the total number of
Shares or Performance Units subject to such grants. Any such delegation shall be subject
to the limitations of Section 157(c) of the Delaware General Corporation Law.

4.3 Awards to Non-Employee Directors. Notwithstanding any other provision of this
Plan to the contrary, all Awards to Non-Employee Directors must be authorized by the full
Board pursuant to recommendations made by the Compensation Committee.

 

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5. Options. The Committee may from time to time authorize grants to Participants of Options
to purchase Shares upon such terms and conditions as the Committee may determine in accordance with
the following provisions:

5.1 Number of Shares. Each grant shall specify the number of Shares to which it
pertains.

5.2 Option Price. Each grant shall specify an Option Price per Share, which shall be
equal to or greater than the Fair Market Value per Share on the Grant Date, except as
provided in Section 11.

5.3 Consideration. Each grant shall specify the form of consideration to be paid in
satisfaction of the Option Price and the manner of payment of such consideration, which
may include (i) cash in the form of currency or check or other cash equivalent acceptable
to the Company, (ii) nonforfeitable, unrestricted Shares owned by the Optionee which have
a value at the time of exercise that is equal to the Option Price, (iii) any other legal
consideration that the Committee may deem appropriate on such basis as the Committee may
determine in accordance with this Plan, or (iv) any combination of the foregoing.

5.4 Cashless Exercise. To the extent permitted by applicable law, the Option Price
and any applicable statutory minimum withholding taxes may be paid from the proceeds of
sale through a bank or broker on the date of exercise of some or all of the Shares to
which the exercise relates.

5.5 Performance–Based Options. Any grant of an Option may specify Performance
Objectives that must be achieved as a condition to exercise of the Option.

5.6 Vesting. Each Option grant may specify a period of continuous employment of the
Optionee by the Company or any Subsidiary (or, in the case of a Nonemployee Director,
service on the Board) that is necessary before the Options or installments thereof shall
become exercisable, and any grant may provide for the earlier exercise of such rights in
the event of a change in control of the Company or other similar transaction or event.

5.7 ISO Dollar Limitation. Options granted under this Plan may be Incentive Stock
Options, Nonqualified Stock Options or a combination of the foregoing, provided that only
Nonqualified Stock Options may be granted to Nonemployee Directors. Each grant shall
specify whether (or the extent to which) the Option is an Incentive Stock Option or a
Nonqualified Stock Option. Notwithstanding any such designation, to the extent that the
aggregate Fair Market Value of the Shares with respect to which Options designated as
Incentive Stock Options are exercisable for the first time by an Optionee during any
calendar year (under all plans of the Company) exceeds $100,000, such Options shall be
treated as Nonqualified Stock Options.

5.8 Exercise Period. No Option granted under this Plan may be exercised more than
ten years from the Grant Date.

5.9 Award Agreement. Each grant shall be evidenced by an Award Agreement containing
such terms and provisions as the Committee may determine consistent with this Plan.

6. Stock Appreciation Rights. The Committee may also authorize grants to Participants of
Stock Appreciation Rights. A Stock Appreciation Right is the right of the Participant to receive
from the Company an amount, which shall be determined by the Committee and shall be expressed as a
percentage (not exceeding 100 percent) of the Spread at the time of the exercise of such right.
Any grant of Stock Appreciation Rights under this Plan shall be upon such terms and conditions as
the Committee may determine in accordance with the following provisions:

6.1 Payment in Cash or Shares. Any grant may specify that the amount payable upon
the exercise of a Stock Appreciation Right will be paid by the Company in cash, Shares or
any combination thereof or may grant to the Participant or reserve to the Committee the
right to elect among those alternatives.

6.2 Maximum SAR Payment. Any grant may specify that the amount payable upon the
exercise of a Stock Appreciation Right shall not exceed a maximum specified by the
Committee on the Grant Date.

6.3 Exercise Period. Any grant may specify (i) a waiting period or periods before
Stock Appreciation Rights shall become exercisable and (ii) permissible dates or periods
on or during which Stock Appreciation Rights shall be exercisable.

 

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6.4 Change in Control. Any grant may specify that a Stock Appreciation Right may be
exercised only in the event of a change in control of the Company or other similar
transaction or event.

6.5 Dividend Equivalents. On or after the Grant Date of any Stock Appreciation
Rights, the Committee may provide for the payment to the Participant of dividend
equivalents thereon in cash or Shares on a current, deferred or contingent basis with
respect to any or all dividends or other distributions paid by the Company.

6.6 Award Agreement. Each grant shall be evidenced by an Award Agreement which shall
describe the subject Stock Appreciation Rights, identify any related Options, state that
the Stock Appreciation Rights are subject to all of the terms and conditions of this Plan
and contain such other terms and provisions as the Committee may determine consistent with
this Plan.

6.7 Tandem Stock Appreciation Rights. Each grant of a Tandem Stock Appreciation
Right shall provide that such Tandem Stock Appreciation Right may be exercised only (i) at
a time when the related Option (or any similar right granted under any other plan of the
Company) is also exercisable and the Spread is positive and (ii) by surrender of the
related Option (or such other right) for cancellation.

6.8 Exercise Period. No Stock Appreciation Right granted under this Plan may be
exercised more than ten years from the Grant Date.

6.9 Freestanding Stock Appreciation Rights. Regarding Freestanding Stock
Appreciation Rights only:

(a) Each grant shall specify in respect of each Freestanding Stock Appreciation
Right a Base Price per Share, which shall be equal to or greater than the Fair Market
Value on the Grant Date, except as provided in Section 11;

(b) Successive grants may be made to the same Participant regardless of whether
any Freestanding Stock Appreciation Rights previously granted to such Participant
remain unexercised; and

(c) Each grant shall specify the period or periods of continuous employment of
the Participant by the Company or any Subsidiary (or, in the case of a Nonemployee
Director, service on the Board) that are necessary before the Freestanding Stock
Appreciation Rights or installments thereof shall become exercisable, and any grant
may provide for the earlier exercise of such rights in the event of a change in
control of the Company or other similar transaction or event.

7. Restricted Shares. The Committee may also authorize grants to Participants of Restricted
Shares upon such terms and conditions as the Committee may determine in accordance with the
following provisions:

7.1 Transfer of Shares. Each grant shall constitute an immediate transfer of the
ownership of Shares to the Participant in consideration of the performance of services,
subject to the substantial risk of forfeiture and restrictions on transfer hereinafter
referred to.

7.2 Consideration. To the extent permitted by Delaware law, each grant may be made
without additional consideration from the Participant or in consideration of a payment by
the Participant that is less than the Fair Market Value on the Grant Date.

7.3 Substantial Risk of Forfeiture. Each grant shall provide that the Restricted
Shares covered thereby shall be subject to a “substantial risk of forfeiture” within the
meaning of Code Section 83 for a period to be determined by the Committee on the Grant
Date, and any grant or sale may provide for the earlier termination of such risk of
forfeiture in the event of a change in control of the Company or other similar transaction
or event.

7.4 Dividend, Voting and Other Ownership Rights. Unless otherwise determined by the
Committee, an award of Restricted Shares shall entitle the Participant to dividend, voting
and other ownership rights during the period for which such substantial risk of forfeiture
is to continue.

 

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7.5 Restrictions on Transfer. Each grant shall provide that, during the period for
which such substantial risk of forfeiture is to continue, the transferability of the
Restricted Shares shall be prohibited or restricted in the manner and to the extent
prescribed by the Committee on the Grant Date. Such restrictions may include, without
limitation, rights of repurchase or first refusal in the Company or provisions subjecting
the Restricted Shares to a continuing substantial risk of forfeiture in the hands of any
transferee.

7.6 Performance–Based Restricted Shares. Any grant or the vesting thereof may be
further conditioned upon the attainment of Performance Objectives established by the
Committee in accordance with the applicable provisions of Section 9 regarding Performance
Shares and Performance Units.

7.7 Dividends. Any grant may require that any or all dividends or other
distributions paid on the Restricted Shares during the period of such restrictions be
automatically sequestered and paid on a deferred basis when the restrictions lapse or
reinvested on an immediate or deferred basis in additional Shares, which may be subject to
the same restrictions as the underlying Award or such other restrictions as the Committee
may determine.

7.8 Award Agreements. Each grant shall be evidenced by an Award Agreement containing
such terms and provisions as the Committee may determine consistent with this Plan.
Unless otherwise directed by the Committee, all certificates representing Restricted
Shares, together with a stock power that shall be endorsed in blank by the Participant
with respect to such Shares, shall be held in custody by the Company until all
restrictions thereon lapse.

8. Deferred Shares (Restricted Stock Units). The Committee may authorize grants of Deferred
Shares (Restricted Stock Units) to Participants upon such terms and conditions as the Committee may
determine in accordance with the following provisions:

8.1 Deferred Compensation. Each grant shall constitute the agreement by the Company
to issue or transfer Shares to the Participant in the future in consideration of the
performance of services, subject to the fulfillment during the Deferral Period of such
conditions as the Committee may specify.

8.2 Consideration. Each grant may be made without additional consideration from the
Participant or in consideration of a payment by the Participant that is less than the Fair
Market Value on the Grant Date.

8.3 Deferral Period. Each grant shall provide that the Deferred Shares (Restricted
Stock Units) covered thereby shall be subject to a Deferral Period, which shall be fixed
by the Committee on the Grant Date, and any grant or sale may provide for the earlier
termination of such period in the event of a change in control of the Company or other
similar transaction or event.

8.4 Dividend Equivalents and Other Ownership Rights. During the Deferral Period, the
Participant shall not have any right to transfer any rights under the subject Award, shall
not have any rights of ownership in the Deferred Shares and shall not have any right to
vote such shares, but the Committee may on or after the Grant Date authorize the payment
of dividend equivalents on such shares in cash or additional Shares on a current, deferred
or contingent basis with respect to any or all dividends or other distributions paid by
the Company.

8.5 Performance Objectives. Any grant or the vesting thereof may be further
conditioned upon the attainment of Performance Objectives established by the Committee in
accordance with the applicable provisions of Section 9 regarding Performance Shares and
Performance Units.

8.6 Award Agreement. Each grant shall be evidenced by an Award Agreement containing
such terms and provisions as the Committee may determine consistent with this Plan.

 

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9. Performance Shares and Performance Units. The Committee may also authorize grants of
Performance Shares and Performance Units, which shall become payable to the Participant upon the
achievement of specified Performance Objectives, upon such terms and conditions as the Committee
may determine in accordance with the following provisions:

9.1 Number of Performance Shares or Units. Each grant shall specify the number of
Performance Shares or Performance Units to which it pertains, which may be subject to
adjustment to reflect changes in compensation or other factors.

9.2 Performance Period. The Performance Period with respect to each Performance
Share or Performance Unit shall be determined by the Committee and set forth in the Award
Agreement and may be subject to earlier termination in the event of a change in control of
the Company or other similar transaction or event.

9.3 Performance Objectives. Each grant shall specify the Performance Objectives that
are to be achieved by the Participant.

9.4 Threshold Performance Objectives. Each grant may specify in respect of the
specified Performance Objectives a minimum acceptable level of achievement below which no
payment will be made and may set forth a formula for determining the amount of any payment
to be made if performance is at or above such minimum acceptable level but falls short of
the maximum achievement of the specified Performance Objectives.

9.5 Payment of Performance Shares and Units. Each grant shall specify the time and
manner of payment of Performance Shares or Performance Units that shall have been earned,
and any grant may specify that any such amount will be paid by the Company in cash, Shares
or any combination thereof or may grant to the Participant or reserve to the Committee the
right to elect among those alternatives.

9.6 Maximum Payment. Any grant of Performance Shares may specify that the amount
payable with respect thereto may not exceed a maximum specified by the Committee on the
Grant Date. Any grant of Performance Units may specify that the amount payable, or the
number of Shares issued, with respect thereto may not exceed maximums specified by the
Committee on the Grant Date.

9.7 Dividend Equivalents. Any grant of Performance Shares may provide for the
payment to the Participant of dividend equivalents thereon in cash or additional Shares on
a current, deferred or contingent basis with respect to any or all dividends or other
distributions paid by the Company.

9.8 Adjustment of Performance Objectives. If provided in the terms of the grant, the
Committee may adjust Performance Objectives and the related minimum acceptable level of
achievement if, in the sole judgment of the Committee, events or transactions have
occurred after the Grant Date that are unrelated to the performance of the Participant and
result in distortion of the Performance Objectives or the related minimum acceptable level
of achievement; provided, however, in the case of a Qualified Performance-Based Award any
such modifications may not increase the amount payable under such Award.

9.9 Award Agreement. Each grant shall be evidenced by an Award Agreement which shall
state that the Performance Shares or Performance Units are subject to all of the terms and
conditions of this Plan and such other terms and provisions as the Committee may determine
consistent with this Plan.

10. Transferability.

10.1 Transfer Restrictions. Except as provided in Sections 10.2 and 10.4, no Award
granted under this Plan shall be transferable by a Participant other than upon death by
will or the laws of descent and distribution or designation of a beneficiary in a form
acceptable to the Committee, and Options and Stock Appreciation Rights shall be
exercisable during a Participant’s lifetime only by the Participant or, in the event of
the Participant’s legal incapacity, by his guardian or legal representative acting in a
fiduciary capacity on behalf of the Participant under state law. Any attempt to transfer
an Award in violation of this Plan shall render such Award null and void.

10.2 Limited Transfer Rights. The Committee may expressly provide in an Award
Agreement (or an amendment to an Award Agreement) that a Participant may transfer such
Award (other than an Incentive Stock Option), in whole or in part, to a spouse or lineal
descendant (a “Family Member”), a trust for the exclusive benefit of Family Members, a
partnership or other entity in which all the beneficial owners are Family Members, or any
other entity affiliated with the Participant that may be approved by the Committee.
Subsequent transfers of Awards shall be prohibited except in accordance with this Section
10.2. All terms and conditions of the Award,
including provisions relating to the termination of the Participant’s employment or
service with the Company or a Subsidiary, shall continue to apply following a transfer
made in accordance with this Section 10.2.

 

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10.3 Restrictions on Transfer. Any Award made under this Plan may provide that all
or any part of the Shares that are (i) to be issued or transferred by the Company upon the
exercise of Options or Stock Appreciation Rights, upon the termination of the Deferral
Period applicable to Deferred Shares (Restricted Stock Units) or upon payment under any
grant of Performance Shares or Performance Units, or (ii) no longer subject to the
substantial risk of forfeiture and restrictions on transfer referred to in Section 7,
shall be subject to further restrictions upon transfer.

10.4 Domestic Relations Orders. Notwithstanding the foregoing provisions of this
Section 10, any Award made under this Plan may be transferred as necessary to fulfill any
domestic relations order as defined in Code Section 414(p)(1)(B).

11. Adjustments. The Committee shall make or provide for such adjustments in the (a) number
of Shares covered by outstanding Options, Stock Appreciation Rights, Deferred Shares (Restricted
Stock Units), Restricted Shares and Performance Shares granted hereunder, (b) prices per share
applicable to such Options and Stock Appreciation Rights, and (c) kind of shares covered thereby
(including shares of another issuer), as the Committee in its sole discretion may in good faith
determine to be equitably required in order to prevent dilution or enlargement of the rights of
Participants that otherwise would result from (x) any stock dividend, stock split, combination or
exchange of Shares, recapitalization or other change in the capital structure of the Company, (y)
any merger, consolidation, spin–off, spin–out, split–off, split–up, reorganization, partial or
complete liquidation or other distribution of assets (other than a normal cash dividend), issuance
of rights or warrants to purchase securities or (z) any other corporate transaction or event having
an effect similar to any of the foregoing. Moreover, in the event of any such transaction or
event, the Committee may provide in substitution for any or all outstanding Awards under this Plan
such alternative consideration as it may in good faith determine to be equitable under the
circumstances and may require in connection therewith the cancellation or surrender of all Awards
so replaced. The Committee shall also make or provide for such adjustments in each of the
limitations specified in Section 3 as the Committee in its sole discretion may in good faith
determine to be appropriate in order to reflect any transaction or event described in this Section
11. In the event the Company shall assume outstanding employee awards or the right or obligation
to make such awards in connection with the acquisition of another business or another corporation
or business entity, the Committee may make such adjustments, not inconsistent with the terms of the
Plan, in the terms of Awards as it shall deem appropriate in order to achieve reasonable
comparability or other equitable relationship between the assumed awards and the Awards granted
under the Plan as so adjusted.

11.1 Change in Control. The Committee shall also be authorized to determine and
specify in any Award Agreement provisions which shall apply upon a change in control of
the Company. A “Change in Control” of the Company for purposes of Awards made under this
Plan shall mean any of the following events: (a) a dissolution or liquidation of the
Company, (b) a sale of substantially all of the assets of the Company, (c) a merger or
combination involving the Company after which the owners of Common Stock of the Company
immediately prior to the merger or combination own less than 50% of the outstanding shares
of common stock of the surviving corporation, or (d) the acquisition of more than 50% of
the outstanding shares of Common Stock of the Company, whether by tender offer or
otherwise, by any “person” (as such term is used in Section 13(d) and 14(d) of the
Securities Exchange Act of 1934) other than a trustee or other fiduciary holding
securities under an employee benefit plan of the Company. The decision of the Committee
as to whether a Change in Control has occurred shall be conclusive and binding.

11.2 Cash-Out. In connection with any change in control, the Committee, without the
consent of Participants, may determine that (i) any or all outstanding Options or Stock
Appreciation Rights shall be automatically exercised and cashed out in exchange for a cash
payment for such Options and Stock Appreciation Rights which may not exceed the Spread
between the Option Price or Base Price and Fair Market Value on the date of exercise, and
(ii) any or all other outstanding Awards shall be cashed out in exchange for such
consideration as the Committee may in good faith determine to be equitable under the
circumstances.

12. Fractional Shares. The Company shall not be required to issue any fractional Shares
pursuant to this Plan. The Committee may provide for the elimination of fractions or for the
settlement thereof in cash.

 

9

 

13. Withholding Taxes. To the extent that the Company is required to withhold federal, state,
local or foreign taxes in connection with any payment made or benefit realized by a Participant or
other person under this Plan, it shall be a
condition to the receipt of such payment or the realization of such benefit that the
Participant or such other person make arrangements satisfactory to the Company for payment of all
such taxes required to be withheld. At the discretion of the Committee, such arrangements may
include relinquishment of a portion of such benefit. The Fair Market Value of any Shares withheld
or tendered to satisfy any such tax withholding obligations shall not exceed the amount determined
by the applicable minimum statutory tax withholding rates.

14. Certain Terminations of Employment, Hardship and Approved Leaves of Absence.
Notwithstanding any other provision of this Plan to the contrary, in the event of termination of
employment by reason of death, disability, normal retirement, early retirement with the consent of
the Company or leave of absence approved by the Company, or in the event of hardship or other
special circumstances, of a Participant who holds an Option or Stock Appreciation Right that is not
immediately and fully exercisable, any Restricted Shares as to which the substantial risk of
forfeiture or the prohibition or restriction on transfer has not lapsed, any Deferred Shares
(Restricted Stock Units) as to which the Deferral Period is not complete, any Performance Shares or
Performance Units that have not been fully earned, or any Shares that are subject to any transfer
restriction pursuant to Section 10.3, the Committee may in its sole discretion take any action that
it deems to be equitable under the circumstances or in the best interests of the Company,
including, without limitation, waiving or modifying any limitation or requirement with respect to
any Award under this Plan. However, any such actions taken by the Committee must comply with the
provisions of Section 21 and the requirements of Code Section 409A and with Code Section 162(m) for
Qualified Performance-Based Awards.

15. Foreign Participants. In order to facilitate the making of any grant or combination of
grants under this Plan, the Committee may provide for such special terms for Awards to Participants
who are foreign nationals, or who are employed by or perform services for the Company or any
Subsidiary outside of the United States of America, as the Committee may consider necessary or
appropriate to accommodate differences in local law, tax policy or custom. Moreover, the Committee
may approve such supplements to, or amendments, restatements or alternative versions of, this Plan
as it may consider necessary or appropriate for such purposes without thereby affecting the terms
of this Plan as in effect for any other purpose, provided that no such supplements, amendments,
restatements or alternative versions shall include any provisions that are inconsistent with the
terms of this Plan, as then in effect, unless this Plan could have been amended to eliminate such
inconsistency without further approval by the stockholders of the Company.

16. Amendments and Other Matters.

16.1 Plan Amendments. This Plan may be amended from time to time by the Board, but
no such amendment shall increase any of the limitations specified in Section 3, other than
to reflect an adjustment made in accordance with Section 11, without the further approval
of the stockholders of the Company. The Board may condition any amendment on the approval
of the stockholders of the Company if such approval is necessary or deemed advisable with
respect to the applicable listing or other requirements of a national securities exchange
or other applicable laws, policies or regulations.

16.2 Award Deferrals. The Committee may permit Participants to elect to defer the
issuance of Shares or the settlement of Awards in cash under the Plan pursuant to such
rules, procedures or programs as it may establish for purposes of this Plan. In the case
of an award of Restricted Shares, the deferral may be effected by the Participant’s
agreement to forego or exchange his or her award of Restricted Shares and receive an award
of Deferred Shares (Restricted Stock Units). The Committee also may provide that deferred
settlements include the payment or crediting of interest on the deferral amounts, or the
payment or crediting of dividend equivalents where the deferral amounts are denominated in
Shares. However, any Award deferrals which the Committee permits must comply with the
provisions of Section 21 and the requirements of Code Section 409A.

16.3 Conditional Awards. The Committee may condition the grant of any award or
combination of Awards under the Plan on the surrender or deferral by the Participant of
his or her right to receive a cash bonus or other compensation otherwise payable by the
Company or any Subsidiary to the Participant, provided that any such grant must comply
with the provisions of Section 21 and the requirements of Code Section 409A.

16.4 Repricing Prohibited. The terms of outstanding Awards may not be amended to
reduce the Option Price of outstanding Options or Base Price of outstanding Stock
Appreciation Rights or cancel outstanding Options or Stock Appreciation Rights in exchange
for cash, other Awards or Options or Stock Appreciation Rights with an Option Price or
Base Price that is less than the Option Price or Base Price of the original Options or
Stock Appreciation Rights without stockholder approval, provided that nothing herein shall
prevent the Committee from taking any action provided for in Section 11.

 

10

 

16.5 No Employment Right. This Plan shall not confer upon any Participant any right
with respect to continuance of employment or other service with the Company or any
Subsidiary and shall not interfere in any way with any right that the Company or any
Subsidiary would otherwise have to terminate any Participant’s employment or other service
at any time.

16.6 Tax Qualification. To the extent that any provision of this Plan would prevent
any Option that was intended to qualify under particular provisions of the Code from so
qualifying, such provision of this Plan shall be null and void with respect to such
Option, provided that such provision shall remain in effect with respect to other Options,
and there shall be no further effect on any provision of this Plan.

16.7 Amendments to Comply with Laws, Regulations or Rules. Notwithstanding any other
provision of the Plan or any Award Agreement to the contrary, in its sole and absolute
discretion and without the consent of any Participant, the Board may amend the Plan, and
the Committee may amend any Award Agreement, to take effect retroactively or otherwise as
it deems necessary or advisable for the purpose of conforming the Plan or such Award
Agreement to any present or future law, regulation or rule applicable to the Plan,
including, but not limited to, Code Section 409A.

17. Effective Date. This Plan shall become effective upon its approval by the stockholders of
the Company.

18. Termination. This Plan shall terminate on the tenth anniversary of the date upon which it
is approved by the stockholders of the Company, and no Award shall be granted after that date.

19. Limitations Period. Any person who believes he or she is being denied any benefit or
right under the Plan may file a written claim with the Committee. Any claim must be delivered to
the Committee within forty-five (45) days of the specific event giving rise to the claim. Untimely
claims will not be processed and shall be deemed denied. The Committee, or its designated agent,
will notify the Participant of its decision in writing as soon as administratively practicable.
Claims not responded to by the Committee in writing within ninety (90) days of the date the written
claim is delivered to the Committee shall be deemed denied. The Committee’s decision shall be
final, conclusive and binding on all persons. No lawsuit relating to the Plan may be filed before
a written claim is filed with the Committee and is denied or deemed denied, and any lawsuit must be
filed within one year of such denial or deemed denial or be forever barred.

20. Governing Law. The validity, construction and effect of this Plan and any Award hereunder
will be determined in accordance with the Delaware General Corporation Law, except to the extent
governed by applicable federal law.

21. Compliance with Code Section 409A.

21.1 Awards Subject to Section 409A. The provisions of this Section 21 shall apply
to any Award or portion thereof that is or becomes subject to Code Section 409A (“Section
409A”), notwithstanding any provision to the contrary contained in the Plan or the Award
Agreement applicable to such Award. Awards subject to Section 409A include, without
limitation:

(a) Any Nonqualified Stock Option or Stock Appreciation Right that permits the
deferral of compensation other than the deferral of recognition of income until the
exercise of the Award.

(b) Any other Award that either (i) provides by its terms for settlement of all
or any portion of the Award on one or more dates following the Short-Term Deferral
Period (as defined below) or (ii) permits or requires the Participant to elect one or
more dates on which the Award will be settled.

Subject to any applicable U.S. Treasury Regulations promulgated pursuant to Section 409A
or other applicable guidance, the term “Short-Term Deferral Period” means the period
ending on the later of (i) the date that is two and one-half months from the end of the
Company’s fiscal year in which the applicable portion of the Award is no longer subject to
a substantial risk of forfeiture or (ii) the date that is two and one-half months from the
end of the Participant’s taxable year in which the applicable portion of the Award is no
longer subject to a substantial risk of forfeiture. For this purpose, the term
“substantial risk of forfeiture” shall have the meaning set forth in any applicable U.S.
Treasury Regulations promulgated pursuant to Section 409A or other applicable guidance.

 

11

 

21.2 Deferral and/or Distribution Elections. Except as otherwise permitted or
required by Section 409A or any applicable U.S. Treasury Regulations promulgated pursuant
to Section 409A or other applicable guidance, the following rules shall apply to any
deferral and/or distribution elections (each, an “Election”) that may be permitted or
required by the Committee pursuant to an Award subject to Section 409A:

(a) All Elections must be in writing and specify the amount of the distribution
in settlement of an Award being deferred, as well as the time and form of
distribution as permitted by this Plan.

(b) All Elections shall be made by the end of the Participant’s taxable year
prior to the year in which services commence for which an Award may be granted to
such Participant; provided, however, that if the Award qualifies as
“performance-based compensation” for purposes of Section 409A and is based on
services performed over a period of at least twelve (12) months, then the Election
may be made no later than six (6) months prior to the end of such period.

(c) Elections shall continue in effect until a written election to revoke or
change such Election is received by the Company, except that a written election to
revoke or change such Election must be made prior to the last day for making an
Election determined in accordance with paragraph (b) above or as permitted by Section
21.3.

21.3 Subsequent Elections. Any Award subject to Section 409A which permits a
subsequent Election to delay the distribution or change the form of distribution in
settlement of such Award shall comply with the following requirements:

(a) No subsequent Election may take effect until at least twelve (12) months
after the date on which the subsequent Election is made;

(b) Each subsequent Election related to a distribution in settlement of an Award
not described in Section 21.4(b), 21.4(c) or 21.4(f) must result in a delay of the
distribution for a period of not less than five (5) years from the date such
distribution would otherwise have been made; and

(c) No subsequent Election related to a distribution pursuant to Section 21.4(d)
shall be made less than twelve (12) months prior to the date of the first scheduled
payment under such distribution.

21.4 Distributions Pursuant to Deferral Elections. No distribution in settlement of
an Award subject to Section 409A may commence earlier than:

(a) Separation from service (as determined pursuant to U.S. Treasury Regulations
or other applicable guidance);

(b) The date the Participant becomes Disabled (as defined below);

(c) Death;

(d) A specified time (or pursuant to a fixed schedule) that is either (i)
specified by the Committee upon the grant of an Award and set forth in the Award
Agreement evidencing such Award or (ii) specified by the Participant in an Election
complying with the requirements of Section 21.2 and/or 21.3, as applicable;

(e) To the extent provided by U.S. Treasury Regulations promulgated pursuant to
Section 409A or other applicable guidance, a change in the ownership or effective
control or the Company or in the ownership of a substantial portion of the assets of
the Company; or

(f) The occurrence of an Unforeseeable Emergency (as defined below).

 

12

 

Notwithstanding anything else herein to the contrary, to the extent that a Participant is
a “Specified Employee” (as defined in Code Section 409A(a)(2)(B)(i)), no distribution
pursuant to Section 21.4(a) in settlement of an Award
subject to Section 409A may be made before the date which is six (6) months after such
Participant’s date of separation from service, or, if earlier, the date of the
Participant’s death.

21.5 Unforeseeable Emergency. The Committee shall have the authority to provide in
the Award Agreement evidencing any Award subject to Section 409A for distribution in
settlement of all or a portion of such Award in the event that a Participant establishes,
to the satisfaction of the Committee, the occurrence of an Unforeseeable Emergency (as
defined in Section 409A). In such event, the amount(s) distributed with respect to such
Unforeseeable Emergency cannot exceed the amounts necessary to satisfy such Unforeseeable
Emergency plus amounts necessary to pay taxes reasonably anticipated as a result of such
distribution(s), after taking into account the extent to which such hardship is or may be
relieved through reimbursement or compensation by insurance or otherwise or by liquidation
of the Participant’s assets (to the extent the liquidation of such assets would not itself
cause severe financial hardship). All distributions with respect to an Unforeseeable
Emergency shall be made in a lump sum as soon as practicable following the Committee’s
determination that an Unforeseeable Emergency has occurred. The occurrence of an
Unforeseeable Emergency shall be judged and determined by the Committee. The Committee’s
decision with respect to whether an Unforeseeable Emergency has occurred and the manner in
which, if at all, the distribution in settlement of an Award shall be altered or modified,
shall be final, conclusive, and not subject to approval or appeal.

21.6 Disabled. The Committee shall have the authority to provide in the Award
Agreement evidencing any Award subject to Section 409A for distribution in settlement of
such Award in the event that the Participant becomes Disabled. A Participant shall be
considered “Disabled” if either:

(a) the Participant is unable to engage in any substantial gainful activity by
reason of any medically determinable physical or mental impairment which can be
expected to result in death or can be expected to last for a continuous period of not
less than twelve (12) months, or

(b) the Participant is, by reason of any medically determinable physical or
mental impairment which can be expected to result in death or can be expected to last
for a continuous period of not less than twelve (12) months, receiving income
replacement benefits for a period of not less than three (3) months under an accident
and health plan covering employees of the Participant’s employer.

All distributions payable by reason of a Participant becoming Disabled shall be paid in a
lump sum or in periodic installments as established by the Participant’s Election,
commencing as soon as practicable following the date the Participant becomes Disabled. If
the Participant has made no Election with respect to distributions upon becoming Disabled,
all such distributions shall be paid in a lump sum as soon as practicable following the
date the Participant becomes Disabled.

21.7 Death. If a Participant dies before complete distribution of amounts payable
upon settlement of an Award subject to Section 409A, such undistributed amounts shall be
distributed to his or her beneficiary under the distribution method for death established
by the Participant’s Election as soon as administratively possible following receipt by
the Committee of satisfactory notice and confirmation of the Participant’s death. If the
Participant has made no Election with respect to distributions upon death, all such
distributions shall be paid in a lump sum as soon as practicable following the date of the
Participant’s death.

21.8 No Acceleration of Distributions. Notwithstanding anything to the contrary
herein, this Plan does not permit the acceleration of the time or schedule of any
distribution under this Plan in settlement of an Award subject to Section 409A, except as
provided by Section 409A and/or U.S. Treasury Regulations promulgated pursuant to Section
409A or other applicable guidance.

22. Predecessor Plan. Upon stockholder approval of this Plan pursuant to Section 17, no new
awards will be granted under the Predecessor Plan; provided that the annual grants of Restricted
Stock Units to Nonemployee Directors will be made under the Predecessor Plan on the effective date
of this Plan, and all outstanding awards under the Predecessor Plan on the effective date of this
Plan will be satisfied from the Shares which are available and have been reserved under the
Predecessor Plan.

 

13

 

LINDSAY CORPORATION

Restricted Stock Units

Granted Pursuant to the

2010 Long-Term Incentive Plan 

Agreement with U.S. Employee

Lindsay Corporation (“Company”) grants to you, as a matter of separate inducement and not in lieu
of salary or other compensation for services, the following award of Restricted Stock Units
(“Units”) pursuant to the Lindsay Corporation 2010 Long-Term Incentive Plan (“Plan”). Except as
otherwise specified in the attached Terms and Conditions or herein, vesting of the Units is
conditioned upon you being continuously employed by the Company or a subsidiary from the Grant Date
to each relevant vesting date.

Restricted Stock Units

You are awarded the following Restricted Stock Units. Each Unit is the equivalent of one Share of
Common Stock and will be distributed on the relevant vesting date (or as soon thereafter as
practicable) in the form of Shares of Common Stock. The Units will vest ratably (one-third each
year) on November 1st of the next three calendar years following the Grant Date.

	 	 	 	 	 	 	 	 	 
	Grantee:
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Grant Date:	 	 	 	 	 	 
	 	 	 	 	   	 	 
	 
	 	 	 	 	 	 	 	 
	Units Awarded:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

You acknowledge that you have received this Agreement with the attached Terms and Conditions, and
you agree to accept and be bound by the provisions of the Plan and this Agreement including the
Terms and Conditions effective as of the Grant Date.

	 	 	 	 	 	 	 	 	 
	 	 	LINDSAY CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

I have received, and agree to comply with, the Lindsay Corporation Code of Business Conduct and
Ethics policy, including the section concerning Insider Trading.

	 	 	 	 	 	 	 	 	 
	 	 	GRANTEE	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

 

14

 

GRANT DATE:                                         

LINDSAY CORPORATION

2010 LONG-TERM INCENTIVE PLAN

TERMS AND CONDITIONS OF RESTRICTED STOCK UNITS

GRANTED TO U.S. EMPLOYEES

These terms and condition are made part of the Agreement dated as of the Grant Date indicated above
awarding Restricted Stock Units pursuant to the terms of the Lindsay Corporation 2010 Long-Term
Incentive Plan (“Plan”). All capitalized terms used herein shall have the meaning set forth in the
Plan, unless the Agreement (including these terms and conditions) specifies a different meaning.

Section 1. Form and Purpose of Award. Each Restricted Stock Unit (“Unit”) represents
a non-transferable right to receive one Share of the Company’s Common Stock ($1.00 par value) on
the applicable vesting date (or as soon thereafter as practicable). The purpose of this award is
to motivate your future performance and to align your interests with those of the Company and its
shareholders.

Section 2. Special Cash Dividend Equivalents. If any special cash dividend (other
than regular quarterly dividends) is paid by the Company on its Common Stock while Restricted Stock
Units under this award are outstanding, you will be credited with additional Units, the number of
which shall be determined by first (i) multiplying the number of your outstanding Units on the
payment date of the special cash dividend (“Dividend Payment Date”) by the per share dollar amount
of the special cash dividend, and then (ii) dividing the resulting amount by the Fair Market Value
of a Share of Common Stock on the Dividend Payment Date (such additional Units being referred to
herein as “Special Cash Dividend Equivalents”). Additional Units which are credited as Special
Cash Dividend Equivalents will be treated for purposes of vesting and payment (and any other
applicable terms and conditions) as if part of the original Units in relation to which such
additional Units are credited as Special Cash Dividend Equivalents. No cash payment or dividend
equivalent shall be payable in connection with any regular quarterly dividends which are paid by
the Company on its Common Stock.

Section 3. Vesting Dates/Vesting Periods.

3.1 The Units will vest according to the vesting schedule in your Agreement, provided that you
are continuously employed by the Company through the relevant vesting date or you meet the
requirements for vesting described below. The period from the Grant Date to each vesting date will
be a separate vesting period.

3.2 All outstanding Units shall become fully vested and immediately payable upon a Change in
Control (as such term is defined in the Plan) of the Company.

3.3 All outstanding Units shall become fully vested and immediately payable if your employment
with the Company is terminated due to your death or permanent and total disability. In the event
of your death, your outstanding Units will be distributed in Shares of Common Stock to your
designated beneficiary on file with the Company, or if no beneficiary has been designated or
survives you, then to your estate.

3.4 Except as provided in this Section 3, all of your outstanding Units shall be forfeited if
your employment with the Company terminates for any reason (including retirement) prior to the
relevant vesting date set forth in the vesting schedule in your Agreement.

Section 4. Withholding Taxes. The Company will retain from each distribution the
number of Shares of Common Stock required to satisfy the statutory minimum required amount of
Federal and State tax withholding obligations.

 

15

 

Section 5. Miscellaneous Provisions.

5.1 Restricted Stock Units do not convey the rights of ownership of Shares of Common Stock and
do not carry voting rights. Shares of Common Stock will not be issued to you until Units have
vested, and Shares will be issued in accordance with the Company’s procedures for issuing Common
Stock. The Company’s obligation hereunder is unfunded.

5.2 All outstanding Units shall be appropriately adjusted as determined by the Committee in
the event of any stock dividends, stock splits or reverse stock splits of Common Stock of the
Company. No fractional Shares of Common Stock will be issued. The Company may make such
adjustments as it deems appropriate to eliminate fractional Share interests.

5.3 The Agreement may only be amended in writing with the approval of the Committee. The
Agreement will be binding upon any successor in interest to Lindsay Corporation by merger or
otherwise.

5.4 Nothing contained in the Agreement shall confer on the Grantee any right with respect to
continuation of employment with the Company, or interfere with the right of the Company to
terminate at any time and for any reason the employment of the Grantee.

5.5 The Units and rights under the Agreement may not be sold, conveyed, assigned, transferred,
pledged or otherwise disposed of or encumbered at any time, except upon the Grantee’s death by will
or the laws of descent and distribution or written designation of a beneficiary by the Grantee in a
form acceptable to the Company. Any attempted action in violation of this paragraph shall be null,
void and without effect.

5.6 The Company intends that the grant of Units under the Agreement will not be subject to
Section 409A of the Internal Revenue Code of 1986, as amended, because all payments with respect to
the Units will qualify for the exception from coverage under Section 409A for short-term deferrals.
The Agreement shall be interpreted in a manner which is consistent with the foregoing intent. The
Committee may not take any action or exercise any discretion under the Plan in a manner which will
cause the Units granted under the Agreement to be subject to Code Section 409A. Each payment which
becomes due under the Agreement shall be made as soon as practicable on or after the date when the
right to receive the payment vests. The latest date for any payment shall be the end of the
calendar year in which the Grantee’s right to receive the payment becomes vested, or if this is not
practicable, not later than the 15th day of the third month following the end of such
calendar year.

 

16

 

LINDSAY CORPORATION

Performance Stock Units

Granted Pursuant to the

2010 Long-Term Incentive Plan 

Agreement with U.S. Employee

Lindsay Corporation (“Company”) grants to you, as a matter of separate inducement and not in lieu
of salary or other compensation for services, the following award of Performance Stock Units
(“Units”) pursuant to the Lindsay Corporation 2010 Long-Term Incentive Plan (“Plan”). Except as
otherwise specified in the attached Appendix A or Terms and Conditions or herein, vesting of the
Units is conditioned upon you being continuously employed by the Company or a subsidiary from the
Grant Date to the vesting date.

Performance Stock Units

You are awarded the target number of Performance Stock Units set forth below. Each Unit is the
equivalent of one Share of Common Stock. You can earn up to a maximum of 200% of the target number
of Units awarded based on the performance goals and the payout schedule for the Performance Period
which are set forth in Appendix A and Chart A to this Agreement. As soon as practicable after the
end of the Performance Period, the Compensation Committee of the Board of Directors of the Company
(the “Committee”) will determine and certify in writing the extent to which Units have been earned
based on the Company’s actual performance in relation to the established performance goals and the
payout schedule set forth in Appendix A and Chart A. All Units which the Committee determines have
been earned will be distributed on the vesting date (or as soon thereafter as practicable) in the
form of Shares of Common Stock. The Units will vest on November 1st following the end of the
Performance Period.

Grantee:                                                                                 

Grant Date:                                                                              

Target Number of Units Awarded:                                       

Performance Period:                                                             

You acknowledge that you have received this Agreement with the attached Terms and Conditions, and
you agree to accept and be bound by the provisions of the Plan and this Agreement including the
Terms and Conditions effective as of the Grant Date.

	 	 	 	 	 	 	 	 	 
	 	 	LINDSAY CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

I have received, and agree to comply with, the Lindsay Corporation Code of Business Conduct and
Ethics policy, including the section concerning Insider Trading.

I acknowledge and agree that if any of the Company’s financial statements are restated, as a result
of errors, omissions or fraud, the Company may recover from me the portion of any annual or
long-term incentive payment that was made to me within three years preceding the restatement which
exceeded the amount that would have been payable had the financial results been initially filed as
restated. The Company may recover any such amount (i) by seeking repayment from me, (ii) by
reducing the amount that would otherwise be payable to me under any compensation plan, program or
arrangement of the Company, (iii) by withholding payment of future increases in compensation or
grants of compensatory awards, or (iv) by any combination of the foregoing or otherwise.

	 	 	 	 	 	 	 	 	 
	 	 	GRANTEE	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

 

17

 

PERFORMANCE PERIOD:                                         

LINDSAY CORPORATION

2010 LONG-TERM INCENTIVE PLAN

TERMS AND CONDITIONS OF PERFORMANCE STOCK UNITS

GRANTED TO U.S. EMPLOYEES

These terms and condition are made part of the Agreement for the Performance Period indicated above
awarding Performance Stock Units pursuant to the terms of the Lindsay Corporation 2010 Long-Term
Incentive Plan (“Plan”). All capitalized terms used herein shall have the meaning set forth in the
Plan, unless the Agreement (including these terms and conditions) specifies a different meaning.

Section 1. Form and Purpose of Award. Each Performance Stock Unit (“Unit”) represents
a non-transferable right to receive one Share of the Company’s Common Stock ($1.00 par value) on
the vesting date (or as soon thereafter as practicable). The number of Units which become payable
to you will be determined pursuant to the provisions of the Agreement. The purpose of this award
is to motivate your future performance and to align your interests with those of the Company and
its shareholders.

Section 2. Special Cash Dividend Equivalents. If any special cash dividend (other
than regular quarterly dividends) is paid by the Company on its Common Stock while Performance
Stock Units under this award are outstanding, you will be credited with additional Units, the
number of which shall be determined by first (i) multiplying the number of your outstanding Units
on the payment date of the special cash dividend (“Dividend Payment Date”) which become payable to
you under the provisions of the Agreement by the per share dollar amount of the special cash
dividend, and then (ii) dividing the resulting amount by the Fair Market Value of a Share of Common
Stock on the Dividend Payment Date (such additional Units being referred to herein as “Special Cash
Dividend Equivalents”). Additional Units which are credited as Special Cash Dividend Equivalents
will be treated for purposes of vesting and payment (and any other applicable terms and conditions)
as if part of the original Units in relation to which such additional Units are credited as Special
Cash Dividend Equivalents. No cash payment or dividend equivalent shall be payable in connection
with any regular quarterly dividends which are paid by the Company on its Common Stock.

Section 3. Vesting Dates.

3.1 All outstanding Units that are earned under the provisions of the Agreement will vest on
the date set forth in your Agreement, provided that you are continuously employed by the Company
through the vesting date or you meet the requirements for vesting described below.

3.2 All outstanding Units that are earned under the provisions of the Agreement shall become
fully vested and immediately payable upon a Change in Control (as such term is defined in the Plan)
of the Company.

3.3 All outstanding Units that are earned under the provisions of the Agreement shall become
fully vested and immediately payable if your employment with the Company is terminated due to your
death or permanent and total disability. In the event of your death, your outstanding Units which
are earned will be distributed in Shares of Common Stock to your designated beneficiary on file
with the Company, or if no beneficiary has been designated or survives you, then to your estate.

3.4 Except as provided in this Section 3, all of your outstanding Units shall be forfeited if
your employment with the Company terminates for any reason (including retirement) prior to the
vesting date set forth in your Agreement.

 

18

 

Section 4. Withholding Taxes. The Company will retain from each distribution the
number of Shares of Common Stock required to satisfy the statutory minimum required amount of
Federal and State tax withholding obligations.

Section 5. Miscellaneous Provisions.

5.1 Performance Stock Units do not convey the rights of ownership of Shares of Common Stock
and do not carry voting rights. Shares of Common Stock will not be issued to you until Units have
vested, and Shares will be issued in accordance with the Company’s procedures for issuing Common
Stock. The Company’s obligation hereunder is unfunded.

5.2 All outstanding Units shall be appropriately adjusted as determined by the Committee in
the event of any stock dividends, stock splits or reverse stock splits of Common Stock of the
Company. No fractional Shares of Common Stock will be issued. The Company may make such
adjustments as it deems appropriate to eliminate fractional Share interests.

5.3 The Agreement may only be amended in writing with the approval of the Committee. The
Agreement will be binding upon any successor in interest to Lindsay Corporation by merger or
otherwise.

5.4 Nothing contained in the Agreement shall confer on the Grantee any right with respect to
continuation of employment with the Company, or interfere with the right of the Company to
terminate at any time and for any reason the employment of the Grantee.

5.5 The Units and rights under the Agreement may not be sold, conveyed, assigned, transferred,
pledged or otherwise disposed of or encumbered at any time, except upon the Grantee’s death by will
or the laws of descent and distribution or written designation of a beneficiary by the Grantee in a
form acceptable to the Company. Any attempted action in violation of this paragraph shall be null,
void and without effect.

5.6 The Company intends that the grant of Units under the Agreement will not be subject to
Section 409A of the Internal Revenue Code of 1986, as amended, because all payments with respect to
the Units will qualify for the exception from coverage under Section 409A for short-term deferrals.
The Agreement shall be interpreted in a manner which is consistent with the foregoing intent. The
Committee may not take any action or exercise any discretion under the Plan in a manner which will
cause the Units granted under the Agreement to be subject to Code Section 409A. Each payment which
becomes due under the Agreement shall be made as soon as practicable on or after the date when the
right to receive the payment vests. The latest date for any payment shall be the end of the
calendar year in which the Grantee’s right to receive the payment becomes vested, or if this is not
practicable, not later than the 15th day of the third month following the end of such
calendar year.

 

19

 

LINDSAY CORPORATION

Restricted Stock Units

Granted Pursuant to the

2010 Long-Term Incentive Plan 

Agreement with New U.S. Employee

Lindsay Corporation (“Company”) grants to you, as a matter of separate inducement and not in lieu
of salary or other compensation for services, the following award of Restricted Stock Units
(“Units”) pursuant to the Lindsay Corporation 2010 Long-Term Incentive Plan (“Plan”). Except as
otherwise specified in the attached Terms and Conditions or herein, vesting of the Units is
conditioned upon you being continuously employed by the Company or a subsidiary from the Grant Date
to each relevant vesting date.

Restricted Stock Units

You are awarded the following Restricted Stock Units. Each Unit is the equivalent of one Share of
Common Stock and will be distributed on the relevant vesting date (or as soon thereafter as
practicable) in the form of Shares of Common Stock. The Units will vest ratably (one-third each
year) on the next three November 1 following the Grant Date.

	 	 	 	 	 	 	 	 	 
	Grantee:
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Grant Date:	 	 	 	 	 	 
	 	 	 	 	   	 	 
	 
	 	 	 	 	 	 	 	 
	Units Awarded:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

You acknowledge that you have received this Agreement with the attached Terms and Conditions, and
you agree to accept and be bound by the provisions of the Plan and this Agreement including the
Terms and Conditions effective as of the Grant Date.

	 	 	 	 	 	 	 	 	 
	 	 	LINDSAY CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

I have received, and agree to comply with, the Lindsay Corporation Code of Business Conduct and
Ethics policy, including the section concerning Insider Trading.

	 	 	 	 	 	 	 	 	 
	 	 	GRANTEE	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

 

20

 

GRANT DATE:                                         

LINDSAY CORPORATION

2010 LONG-TERM INCENTIVE PLAN

TERMS AND CONDITIONS OF RESTRICTED STOCK UNITS

GRANTED TO U.S. EMPLOYEES

These terms and condition are made part of the Agreement dated as of the Grant Date indicated above
awarding Restricted Stock Units pursuant to the terms of the Lindsay Corporation 2010 Long-Term
Incentive Plan (“Plan”). All capitalized terms used herein shall have the meaning set forth in the
Plan, unless the Agreement (including these terms and conditions) specifies a different meaning.

Section 1. Form and Purpose of Award. Each Restricted Stock Unit (“Unit”) represents
a non-transferable right to receive one Share of the Company’s Common Stock ($1.00 par value) on
the applicable vesting date (or as soon thereafter as practicable). The purpose of this award is
to motivate your future performance and to align your interests with those of the Company and its
shareholders.

Section 2. Special Cash Dividend Equivalents. If any special cash dividend (other
than regular quarterly dividends) is paid by the Company on its Common Stock while Restricted Stock
Units under this award are outstanding, you will be credited with additional Units, the number of
which shall be determined by first (i) multiplying the number of your outstanding Units on the
payment date of the special cash dividend (“Dividend Payment Date”) by the per share dollar amount
of the special cash dividend, and then (ii) dividing the resulting amount by the Fair Market Value
of a Share of Common Stock on the Dividend Payment Date (such additional Units being referred to
herein as “Special Cash Dividend Equivalents”). Additional Units which are credited as Special
Cash Dividend Equivalents will be treated for purposes of vesting and payment (and any other
applicable terms and conditions) as if part of the original Units in relation to which such
additional Units are credited as Special Cash Dividend Equivalents. No cash payment or dividend
equivalent shall be payable in connection with any regular quarterly dividends which are paid by
the Company on its Common Stock.

Section 3. Vesting Dates/Vesting Periods.

3.1 The Units will vest according to the vesting schedule in your Agreement, provided that you
are continuously employed by the Company through the relevant vesting date or you meet the
requirements for vesting described below. The period from the Grant Date to each vesting date will
be a separate vesting period.

3.2 All outstanding Units shall become fully vested and immediately payable upon a Change in
Control (as such term is defined in the Plan) of the Company.

3.3 All outstanding Units shall become fully vested and immediately payable if your employment
with the Company is terminated due to your death or permanent and total disability. In the event
of your death, your outstanding Units will be distributed in Shares of Common Stock to your
designated beneficiary on file with the Company, or if no beneficiary has been designated or
survives you, then to your estate.

3.4 Except as provided in this Section 3, all of your outstanding Units shall be forfeited if
your employment with the Company terminates for any reason (including retirement) prior to the
relevant vesting date set forth in the vesting schedule in your Agreement.

Section 4. Withholding Taxes. The Company will retain from each distribution the
number of Shares of Common Stock required to satisfy the statutory minimum required amount of
Federal and State tax withholding obligations.

 

21

 

Section 5. Miscellaneous Provisions.

5.1 Restricted Stock Units do not convey the rights of ownership of Shares of Common Stock and
do not carry voting rights. Shares of Common Stock will not be issued to you until Units have
vested, and Shares will be issued in accordance with the Company’s procedures for issuing Common
Stock. The Company’s obligation hereunder is unfunded.

5.2 All outstanding Units shall be appropriately adjusted as determined by the Committee in
the event of any stock dividends, stock splits or reverse stock splits of Common Stock of the
Company. No fractional Shares of Common Stock will be issued. The Company may make such
adjustments as it deems appropriate to eliminate fractional Share interests.

5.3 The Agreement may only be amended in writing with the approval of the Committee. The
Agreement will be binding upon any successor in interest to Lindsay Corporation by merger or
otherwise.

5.4 Nothing contained in the Agreement shall confer on the Grantee any right with respect to
continuation of employment with the Company, or interfere with the right of the Company to
terminate at any time and for any reason the employment of the Grantee.

5.5 The Units and rights under the Agreement may not be sold, conveyed, assigned, transferred,
pledged or otherwise disposed of or encumbered at any time, except upon the Grantee’s death by will
or the laws of descent and distribution or written designation of a beneficiary by the Grantee in a
form acceptable to the Company. Any attempted action in violation of this paragraph shall be null,
void and without effect.

5.6 The Company intends that the grant of Units under the Agreement will not be subject to
Section 409A of the Internal Revenue Code of 1986, as amended, because all payments with respect to
the Units will qualify for the exception from coverage under Section 409A for short-term deferrals.
The Agreement shall be interpreted in a manner which is consistent with the foregoing intent. The
Committee may not take any action or exercise any discretion under the Plan in a manner which will
cause the Units granted under the Agreement to be subject to Code Section 409A. Each payment which
becomes due under the Agreement shall be made as soon as practicable on or after the date when the
right to receive the payment vests. The latest date for any payment shall be the end of the
calendar year in which the Grantee’s right to receive the payment becomes vested, or if this is not
practicable, not later than the 15th day of the third month following the end of such
calendar year.

 

22

 

LINDSAY CORPORATION

Restricted Stock Units

Granted Pursuant to the

2010 Long-Term Incentive Plan 

Agreement with Director

Lindsay Corporation (“Company”) grants to you, as a matter of separate inducement and not in lieu
of other compensation for services, the following award of Restricted Stock Units (“Units”)
pursuant to the Lindsay Corporation 2010 Long-Term Incentive Plan (“Plan”). Except as otherwise
specified in the attached Terms and Conditions or herein, vesting of the Units is conditioned upon
you continuing to serve as a Director of the Company from the Grant Date to the vesting date.

Restricted Stock Units

You are awarded the following Restricted Stock Units. Each Unit is the equivalent of one Share of
Common Stock and will be distributed on the vesting date (or as soon thereafter as practicable) in
the form of Shares of Common Stock. The Units will vest on November 1 next following the Grant
Date.

	 	 	 	 	 	 	 	 	 
	Grantee:
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Grant Date:	 	 	 	 	 	 
	 	 	 	 	   	 	 
	 
	 	 	 	 	 	 	 	 
	Units Awarded:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

You acknowledge that you have received this Agreement with the attached Terms and Conditions, and
you agree to accept and be bound by the provisions of the Plan and this Agreement including the
Terms and Conditions effective as of the Grant Date.

	 	 	 	 	 	 	 	 	 
	 	 	LINDSAY CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

I have received, and agree to comply with, the Lindsay Corporation Code of Business Conduct and
Ethics policy, including the section concerning Insider Trading.

	 	 	 	 	 	 	 	 	 
	 	 	GRANTEE	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

 

23

 

GRANT DATE:                                         

LINDSAY CORPORATION

2010 LONG-TERM INCENTIVE PLAN

TERMS AND CONDITIONS OF RESTRICTED STOCK UNITS

GRANTED TO DIRECTORS

These terms and condition are made part of the Agreement dated as of the Grant Date indicated above
awarding Restricted Stock Units pursuant to the terms of the Lindsay Corporation 2010 Long-Term
Incentive Plan (“Plan”). All capitalized terms used herein shall have the meaning set forth in the
Plan, unless the Agreement (including these terms and conditions) specifies a different meaning.

Section 1. Form and Purpose of Award. Each Restricted Stock Unit (“Unit”) represents
a non-transferable right to receive one Share of the Company’s Common Stock ($1.00 par value) on
the vesting date (or as soon thereafter as practicable). The purpose of this award is to motivate
your future performance and to align your interests with those of the Company and its shareholders.

Section 2. Special Cash Dividend Equivalents. If any special cash dividend (other
than regular quarterly dividends) is paid by the Company on its Common Stock while Restricted Stock
Units under this award are outstanding, you will be credited with additional Units, the number of
which shall be determined by first (i) multiplying the number of your outstanding Units on the
payment date of the special cash dividend (“Dividend Payment Date”) by the per share dollar amount
of the special cash dividend, and then (ii) dividing the resulting amount by the Fair Market Value
of a Share of Common Stock on the Dividend Payment Date (such additional Units being referred to
herein as “Special Cash Dividend Equivalents”). Additional Units which are credited as Special
Cash Dividend Equivalents will be treated for purposes of vesting and payment (and any other
applicable terms and conditions) as if part of the original Units in relation to which such
additional Units are credited as Special Cash Dividend Equivalents. No cash payment or dividend
equivalent shall be payable in connection with any regular quarterly dividends which are paid by
the Company on its Common Stock.

Section 3. Vesting Dates/Vesting Periods.

3.1 The Units will vest on November 1 next following the Grant Date, provided that you are
continuing to serve as a Director of the Company through the vesting date or you meet the
requirements for vesting described below.

3.2 All outstanding Units shall become fully vested and immediately payable upon a Change in
Control (as such term is defined in the Plan) of the Company.

3.3 All outstanding Units shall become fully vested and immediately payable if your service as
a Director of the Company is terminated due to your death or permanent and total disability. In
the event of your death, your outstanding Units will be distributed in Shares of Common Stock to
your designated beneficiary on file with the Company, or if no beneficiary has been designated or
survives you, then to your estate.

3.4 Except as provided in this Section 3, all of your outstanding Units shall be forfeited if
your service as a Director of the Company terminates for any reason (including retirement) prior to
the vesting date set forth in Section 3.1 above.

Section 4. No Withholding Taxes. There are no withholding taxes applicable to this
award.

 

24

 

Section 5. Miscellaneous Provisions.

5.1 Restricted Stock Units do not convey the rights of ownership of Shares of Common Stock and
do not carry voting rights. Shares of Common Stock will not be issued to you until Units have
vested, and Shares will be issued in accordance with the Company’s procedures for issuing Common
Stock. The Company’s obligation hereunder is unfunded.

5.2 All outstanding Units shall be appropriately adjusted as determined by the Committee in
the event of any stock dividends, stock splits or reverse stock splits of Common Stock of the
Company. No fractional Shares of Common Stock will be issued. The Company may make such
adjustments as it deems appropriate to eliminate fractional Share interests.

5.3 The Agreement may only be amended in writing with the approval of the Board upon
recommendation of the Committee. The Agreement will be binding upon any successor in interest to
Lindsay Corporation by merger or otherwise.

5.4 Nothing contained in the Agreement shall confer on the Grantee any right with respect to
continuation of service as a Director of the Company.

5.5 The Units and rights under the Agreement may not be sold, conveyed, assigned, transferred,
pledged or otherwise disposed of or encumbered at any time, except upon the Grantee’s death by will
or the laws of descent and distribution or written designation of a beneficiary by the Grantee in a
form acceptable to the Company. Any attempted action in violation of this paragraph shall be null,
void and without effect.

5.6 The Company intends that the grant of Units under the Agreement will not be subject to
Section 409A of the Internal Revenue Code of 1986, as amended, because all payments with respect to
the Units will qualify for the exception from coverage under Section 409A for short-term deferrals.
The Agreement shall be interpreted in a manner which is consistent with the foregoing intent. The
Committee and Board may not take any action or exercise any discretion under the Plan in a manner
which will cause the Units granted under the Agreement to be subject to Code Section 409A. Each
payment which becomes due under the Agreement shall be made as soon as practicable on or after the
date when the right to receive the payment vests. The latest date for any payment shall be the end
of the calendar year in which the Grantee’s right to receive the payment becomes vested, or if this
is not practicable, not later than the 15th day of the third month following the end of
such calendar year.

 

25

 

LINDSAY CORPORATION

Restricted Stock Units

Granted To New Director Pursuant to the

2010 Long-Term Incentive Plan

Agreement with New Director

Lindsay Corporation (“Company”) grants to you, as a matter of separate inducement to become a
Director and not in lieu of other compensation for services, the following award of Restricted
Stock Units (“Units”) pursuant to the Lindsay Corporation 2010 Long-Term Incentive Plan (“Plan”).
Except as otherwise specified in the attached Terms and Conditions or herein, vesting of the Units
is conditioned upon you continuing to serve as a Director of the Company from the Grant Date to
each relevant vesting date.

Restricted Stock Units

You are awarded the following Restricted Stock Units. Each Unit is the equivalent of one Share of
Common Stock and will be distributed on the relevant vesting date (or as soon thereafter as
practicable) in the form of Shares of Common Stock. The Units will vest ratably (one-third each
year) on the next three November 1 following the Grant Date.

	 	 	 	 	 	 	 	 	 
	Grantee:
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Grant Date:	 	 	 	 	 	 
	 	 	 	 	   	 	 
	 
	 	 	 	 	 	 	 	 
	Units Awarded:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

You acknowledge that you have received this Agreement with the attached Terms and Conditions, and
you agree to accept and be bound by the provisions of the Plan and this Agreement including the
Terms and Conditions effective as of the Grant Date.

	 	 	 	 	 	 	 	 	 
	 	 	LINDSAY CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

I have received, and agree to comply with, the Lindsay Corporation Code of Business Conduct and
Ethics policy, including the section concerning Insider Trading.

	 	 	 	 	 	 	 	 	 
	 	 	GRANTEE	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

 

26

 

GRANT DATE:                                         

LINDSAY CORPORATION

2010 LONG-TERM INCENTIVE PLAN

TERMS AND CONDITIONS OF RESTRICTED STOCK UNITS

GRANTED TO NEW DIRECTORS

These terms and condition are made part of the Agreement dated as of the Grant Date indicated above
awarding Restricted Stock Units pursuant to the terms of the Lindsay Corporation 2010 Long-Term
Incentive Plan (“Plan”). All capitalized terms used herein shall have the meaning set forth in the
Plan, unless the Agreement (including these terms and conditions) specifies a different meaning.

Section 1. Form and Purpose of Award. Each Restricted Stock Unit (“Unit”) represents
a non-transferable right to receive one Share of the Company’s Common Stock ($1.00 par value) on
the applicable vesting date (or as soon thereafter as practicable). The purpose of this award is
to motivate your future performance and to align your interests with those of the Company and its
shareholders.

Section 2. Special Cash Dividend Equivalents. If any special cash dividend (other
than regular quarterly dividends) is paid by the Company on its Common Stock while Restricted Stock
Units under this award are outstanding, you will be credited with additional Units, the number of
which shall be determined by first (i) multiplying the number of your outstanding Units on the
payment date of the special cash dividend (“Dividend Payment Date”) by the per share dollar amount
of the special cash dividend, and then (ii) dividing the resulting amount by the Fair Market Value
of a Share of Common Stock on the Dividend Payment Date (such additional Units being referred to
herein as “Special Cash Dividend Equivalents”). Additional Units which are credited as Special
Cash Dividend Equivalents will be treated for purposes of vesting and payment (and any other
applicable terms and conditions) as if part of the original Units in relation to which such
additional Units are credited as Special Cash Dividend Equivalents. No cash payment or dividend
equivalent shall be payable in connection with any regular quarterly dividends which are paid by
the Company on its Common Stock.

Section 3. Vesting Dates/Vesting Periods.

3.1 The Units will vest according to the vesting schedule in your Agreement, provided that you
are continuing to serve as a Director of the Company through the relevant vesting date or you meet
the requirements for vesting described below. The period from the Grant Date to each vesting date
will be a separate vesting period.

3.2 All outstanding Units shall become fully vested and immediately payable upon a Change in
Control (as such term is defined in the Plan) of the Company.

3.3 All outstanding Units shall become fully vested and immediately payable if your service as
a Director of the Company is terminated due to your death or permanent and total disability. In
the event of your death, your outstanding Units will be distributed in Shares of Common Stock to
your designated beneficiary on file with the Company, or if no beneficiary has been designated or
survives you, then to your estate.

3.4 Except as provided in this Section 3, all of your outstanding Units shall be forfeited if
your service as a Director of the Company terminates for any reason (including retirement) prior to
the relevant vesting date set forth in the vesting schedule in your Agreement.

Section 4. No Withholding Taxes. There are no withholding taxes applicable to this
award.

 

27

 

Section 5. Miscellaneous Provisions.

5.1 Restricted Stock Units do not convey the rights of ownership of Shares of Common Stock and
do not carry voting rights. Shares of Common Stock will not be issued to you until Units have
vested, and Shares will be issued in accordance with the Company’s procedures for issuing Common
Stock. The Company’s obligation hereunder is unfunded.

5.2 All outstanding Units shall be appropriately adjusted as determined by the Committee in
the event of any stock dividends, stock splits or reverse stock splits of Common Stock of the
Company. No fractional Shares of Common Stock will be issued. The Company may make such
adjustments as it deems appropriate to eliminate fractional Share interests.

5.3 The Agreement may only be amended in writing with the approval of the Board upon
recommendation of the Committee. The Agreement will be binding upon any successor in interest to
Lindsay Corporation by merger or otherwise.

5.4 Nothing contained in the Agreement shall confer on the Grantee any right with respect to
continuation of service as a Director of the Company.

5.5 The Units and rights under the Agreement may not be sold, conveyed, assigned, transferred,
pledged or otherwise disposed of or encumbered at any time, except upon the Grantee’s death by will
or the laws of descent and distribution or written designation of a beneficiary by the Grantee in a
form acceptable to the Company. Any attempted action in violation of this paragraph shall be null,
void and without effect.

5.6 The Company intends that the grant of Units under the Agreement will not be subject to
Section 409A of the Internal Revenue Code of 1986, as amended, because all payments with respect to
the Units will qualify for the exception from coverage under Section 409A for short-term deferrals.
The Agreement shall be interpreted in a manner which is consistent with the foregoing intent. The
Committee and Board may not take any action or exercise any discretion under the Plan in a manner
which will cause the Units granted under the Agreement to be subject to Code Section 409A. Each
payment which becomes due under the Agreement shall be made as soon as practicable on or after the
date when the right to receive the payment vests. The latest date for any payment shall be the end
of the calendar year in which the Grantee’s right to receive the payment becomes vested, or if this
is not practicable, not later than the 15th day of the third month following the end of
such calendar year.

 

28exv10w10

Exhibit 10.10

INDEMNIFICATION AGREEMENT

     THIS INDEMNIFICATION AGREEMENT (this “Agreement”) is made as of ___, by and
between LPL Investment Holdings Inc., a Delaware corporation (“Holdings” or the “Company”)
and ___(the “Indemnitee”), an officer and/or director of the Company.

RECITALS

     WHEREAS, although the Amended Certificate of Incorporation and the By-Laws of Holdings provide
for advancement and indemnification of the officers and directors of Holdings and the Indemnitee
may also be entitled to advancement and indemnification pursuant to the Delaware General
Corporation Law, the Delaware General Corporation Law expressly contemplates that
contracts may be entered into between Holdings and officers of Holdings and/or members of the Board
of Directors of Holdings with respect to advancement and indemnification of officers and directors;
and

     WHEREAS, the Indemnitee’s continued service to the Company substantially benefits the Company;
and

     WHEREAS, the Board of Directors of Holdings has determined that it is in the best interest of
the Company to obligate itself contractually to indemnify, and to pay, on a current basis, expenses
in advance of a final disposition of any Proceeding on behalf of the Indemnitee to the fullest
extent permitted by applicable law in order to induce the Indemnitee to serve or continue to serve
the Company free from undue concern that the Indemnitee will not be so indemnified or that any
indemnification obligation will not be met; and

     WHEREAS, this Agreement is a supplement to and in furtherance of the certificate and bylaws or
partnership agreement, as the case may be, of Holdings and any Enterprise (as defined below) and
any resolutions adopted pursuant thereto, and shall not be deemed a substitute therefor, nor to
diminish or abrogate any rights of the Indemnitee thereunder; and

     WHEREAS, the Indemnitee is willing to serve, continue to serve and to take on additional
service for or on behalf of the Company and certain other Enterprises on the condition that the
Indemnitee is indemnified by the Company;

     NOW, THEREFORE, in consideration of the promises and the covenants contained herein, the
Company and the Indemnitee do hereby covenant and agree as follows:

     1. Definitions. For purposes of this Agreement, the following terms shall have the
meanings hereafter assigned to them:

          (a) “Corporate Status” describes the status of a person who is or was a
director, trustee, partner, managing member, officer, employee, agent or fiduciary of the Company
or of any other Enterprise.

          (b) A “Disinterested Director” shall mean a director of the applicable
Company who, at the time of a vote referred to in the definition of Reviewing Party is not (i) the
Indemnitee, (ii) a Party to (or a participant in) the Proceeding for which indemnification is
sought or (iii) an individual having a significant familial, financial, professional or employment
relationship with the Indemnitee, which relationship would, in the circumstances, reasonably be

1

 

expected to exert an influence on such director’s judgment when voting on the decision being
made.

          (c) “Enterprise” shall mean (i) Holdings; or (ii) any other corporation,
partnership, limited liability company, joint venture, trust, employee benefit plan or other
enterprise which is a controlled affiliate or wholly or partially owned direct or indirect
subsidiary, or employee benefit plan, of the Company and of which the Indemnitee is or was serving
as a director, trustee, general partner, managing member, officer, employee, agent or fiduciary; or
(iii) any other corporation, partnership, limited liability company, joint venture, trust, employee
benefit plan or other enterprise, in each case, of which Indemnitee is or was serving at the
request of the Company. “Enterprise” shall specifically include, without limitation, LPL Holdings,
Inc.; LPL Financial Corporation; and UVEST Financial Services Group Inc.

          (d) “Expenses” shall mean all reasonable expenses, including, but not
limited to, attorneys’ fees, retainers, court costs, transcript costs, fees of experts, witness
fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage,
delivery service fees, and all other disbursements or expenses of the types customarily incurred in
connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or
preparing to be a witness in, or otherwise participating in, a Proceeding.

          Expenses shall include such fees and expenses, and costs incurred in connection with any
appeal resulting from any Proceeding, including without limitation the premium, security for, and
other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent.
Expenses, however, shall not include amounts paid in settlement by the Indemnitee or the amount of
judgments or fines against the Indemnitee.

          (e) An “Indemnifiable Matter” shall mean any Proceeding in which the
Indemnitee was, is or will be involved as a Party, witness or otherwise by reason of Indemnitee’s
Corporate Status, by reason of any acts or omissions on his part while acting as an officer or
director of such Company, or by reason of the fact that he is or was serving as a director,
trustee, general partner, managing member, officer, employee, agent or fiduciary of any other
Enterprise, in each case whether or not serving in such capacity at the time any Expense, judgment,
fine or amount paid in settlement is incurred for which indemnification, reimbursement, or
advancement of Expenses can be provided under this Agreement.

          (f) “Indemnitee-Related Entities” means any corporation, partnership,
limited liability company, joint venture, trust, employee benefit plan or other enterprise (other
than the Company, any other Enterprise or the insurer under and pursuant to an insurance policy
issued to or insuring either Company or any Enterprise) from whom the Indemnitee may be entitled to
indemnification, reimbursement, or advancement of Expenses.

          (g) An “Indemnitee Statement” shall mean a written demand by the Indemnitee
to the Company for a payment pursuant to Section 2(c) of this Agreement, accompanied by a written
statement from the Indemnitee to the Company in which the Indemnitee (i) affirms, with respect to
the applicable Indemnifiable Matter, the Indemnitee’s good faith belief that the Indemnitee has met
the relevant standard of conduct described in Section 145 of the Delaware General Corporation
Law or that the Proceeding involves conduct for which liability has been eliminated under such
Company’s certificate of incorporation or bylaws and (ii) undertakes to repay any funds paid in
advance of a final disposition of a Proceeding (or funds paid directly by the Company advance of a
final disposition of a Proceeding) if, with respect to

2

 

the applicable Indemnifiable Matter, the Indemnitee is not entitled to indemnification under
applicable law as ultimately determined by a court of competent jurisdiction.

          (h) Jointly Indemnifiable Claims” shall be broadly construed and shall
include, without limitation, any Proceeding for which the Indemnitee shall be entitled to
indemnification, reimbursement, or advancement of Expenses from (i) either the Company and/or any
other Enterprise pursuant to the Indemnification Sources, on the one hand, and (ii) any
Indemnitee-Related Entity under any other agreement or arrangement between any Indemnitee-Related
Entity and the Indemnitee pursuant to which the Indemnitee is indemnified or entitled to
advancement of Expenses, the laws of the jurisdiction of incorporation or organization of any
Indemnitee-Related Entity and/or the certificate of incorporation, certificate of organization,
bylaws, partnership agreement, operating agreement, certificate of formation, certificate of
limited partnership or other organizational or governing documents of any Indemnitee-Related
Entity, on the other hand.

          (i) A “Liability” shall mean an obligation to pay a loss, liability, cost,
judgment, settlement, penalty, and/or fines (including an excise tax assessed with respect to an
employee benefit plan) in connection with an Indemnifiable Matter and any Expenses incurred in
connection with an Indemnifiable Matter.

          (j) A “Party” shall mean an individual who was, is, or is threatened to be
made, a defendant or respondent in a Proceeding, or a subject, target, person of interest, or other
person within the scope of any Proceeding. The Indemnitee shall be considered a “Party” in a
Proceeding in which the Indemnitee seeks a declaratory judgment with respect to matters related to
an Indemnifiable Matter.

          In addition, the Indemnitee shall be considered a Party for all aspects of an Indemnifiable
Matter even though the Indemnitee asserts counter-claims or cross-claims.

          (k) “Person” means an individual, a corporation, a limited liability
company, an association, a partnership, an estate, a trust and any other entity or organization,
other than the Company or any of its subsidiaries.

          (l) A “Proceeding” shall mean any threatened, pending or completed action,
suit, arbitration, mediation, alternate dispute resolution proceeding, investigation, inquiry,
administrative hearing or any other actual, threatened or completed proceeding, whether brought in
the right of the Company or otherwise, whether informal or formal, and whether of a civil,
criminal, administrative or investigative nature, including, without limitation, any such
proceeding pending as of the date of this Agreement.

          (m) The “Reviewing Party” in connection with an Indemnifiable Matter shall be
selected by the Indemnitee from the following persons:

               (i) if there are two or more Disinterested Directors on the Board of Directors of
the applicable Company, such Board of Directors acting by majority vote of all Disinterested
Directors, or by a majority of the members of a committee of the Board of Directors of such Company
consisting of two or more Disinterested Directors; or

               (ii) a Special Legal Counsel selected by the Indemnitee and approved by:

3

 

                    (a) if there are two or more Disinterested Directors on the Board
of Directors of
the applicable Company, the Board of Directors of such Company acting by majority vote of all
Disinterested Directors, or by a majority of the members of a committee of the Board of Directors
of such Company consisting of two or more Disinterested Directors; or

                    (b) if there are fewer than two Disinterested Directors on the
Board of Directors of
the applicable Company, the full Board of Directors of the Company, with directors who do not
qualify as Disinterested Directors eligible to vote; or

          (n) “Special Legal Counsel” shall mean, at any time, any law firm, or a
member of a law firm, that (a) is experienced in matters of corporation law and (b) is not, at such
time, or has not been in the five years prior to such time, retained to represent: (i) any Company
or Enterprise or the Indemnitee in any matter material to either such party (other than as Special
Legal Counsel), or (ii) any other Party to (or participant in) the Proceeding giving rise to a
claim for indemnification hereunder. Notwithstanding the foregoing, the term “Special Legal
Counsel” shall not include any person who, under the applicable standards of professional conduct
then prevailing, would have a conflict of interest in representing the Company or any Enterprise or
the Indemnitee in an action to determine the Indemnitee’s rights under this Agreement. The Company
agrees to pay the reasonable fees and expenses of the Special Legal Counsel referred to above and
to fully indemnify such counsel against any and all Expenses, claims, liabilities and damages
arising out of or relating to this Agreement or its engagement pursuant hereto and to be liable
therefor.

     2. Indemnification and Advancement in General.

          (a) In the event the Indemnitee is a Party, witness or otherwise a participant in an
Indemnifiable Matter, the Company shall be obligated to indemnify the Indemnitee for any associated
Liabilities to the fullest extent permitted by law. Subject to Section 2(d) and in accordance with
the procedures set forth in Section 3, any indemnification pursuant to this Section 2(a) must be
determined by the Reviewing Party to be permissible under the Delaware General Corporation Law in
the specific Proceeding. The Company shall make any such payment to which the Indemnitee is
entitled pursuant to this Section 2(a) as soon as practicable but in no event later than ten (10)
days after a determination by the Reviewing Party that Indemnitee is entitled to indemnification.

          (b) The Company shall be liable to indemnify the Indemnitee and pay for or reimburse
Expenses and other amounts incurred by or on behalf of the Indemnitee (i) in taking any action to
enforce any provision of this Agreement, including all Expenses incurred bringing a claim,
counterclaim or cross claim in a legal proceeding, arbitration or otherwise to enforce this
Agreement or any provisions of this Agreement or (ii) for recovery under any directors’ and
officers’ liability insurance policy maintained by the Company.

          (c) Notwithstanding anything herein to the contrary, the Company shall, to the
fullest extent permitted by law, be obligated to pay, on a current and as-incurred basis, any and
all Expenses incurred by Indemnitee in an Indemnifiable Matter (an “Expense Advance”)
within ten (10) days after the receipt by the Company of a statement or statements requesting such
advances from time to time, provided that the Indemnitee has delivered to the Company an Indemnitee
Statement. Such Expense Advances shall (i) be unsecured and interest free; (ii) be made without
regard to the Indemnitee’s ability to repay the advances; (iii) be made without regard to the
Indemnitee’s ultimate entitlement to indemnification under the other provisions of this Agreement;
and (iv) include any and all Expenses incurred pursuing an action to enforce any

4

 

rights under this Agreement, including Expenses incurred preparing and forwarding statements
to the Company to support the advances claimed. The Indemnitee shall qualify for advancement of
Expenses solely upon the execution and delivery to the Company of the Indemnitee Statement.

          (d) Notwithstanding any other provisions of this Agreement, to the extent that the
Indemnitee is a Party to (or a participant in) and is successful, on the merits or otherwise, in
any Proceeding in connection with an Indemnifiable Matter or in defense of any claim, issue or
matter therein, in whole or in part, the Company shall be obligated to indemnify the Indemnitee
against all Expenses incurred by him in connection therewith. If the Indemnitee is not wholly
successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but
less than all claims, issues or matters in such Proceeding, the Company shall be obligated to
indemnify Indemnitee against all Expenses incurred by the Indemnitee or on the Indemnitee’s behalf
in connection with each successfully resolved claim, issue or matter. If the Indemnitee is not
wholly successful in such Proceeding, the Company also shall be liable to indemnify the Indemnitee
against all Expenses incurred in connection with any claim, issue or matter that is related to any
claim, issue, or matter on which the Indemnitee was successful. For purposes of this Section and
without limitation, the termination of any claim, issue or matter in such a Proceeding by
dismissal, with or without prejudice, or settlement of any such claim prior to a final judgment by
a court of competent jurisdiction with respect to such Proceeding, shall be deemed to be a
successful result as to such claim, issue or matter.

          (e) This Agreement shall constitute authorization to provide indemnification, pay
funds, on a current basis, and reimburse expenses under Section 145 of the Delaware General
Corporation Law. Any limitation under any law applicable to any Enterprise concerning
indemnification or advancement shall not limit the indemnification and advancement obligations of
any Enterprise to which such law does not apply.

          (f) For purposes of this Section 2, the meaning of the phrase “to the fullest extent
permitted by law” shall include, but not be limited to:

               (1) to the fullest extent permitted by the provision of the Delaware General
Corporation Law that permits a corporation to indemnify its officers and directors,

               (2) to the fullest extent permitted by the provision of the Delaware General
Corporation Law that authorizes or contemplates additional indemnification by agreement; and

               (3) to the fullest extent authorized or permitted by any amendments to or
replacements of the Delaware General Corporation Law adopted after the date of this Agreement that
increase the extent to which a corporation may indemnify its officers and directors.

     3. Procedure for Indemnification.

          (a) In order to obtain indemnification under this Agreement, the Indemnitee shall,
anytime following Indemnitee’s submission of an Indemnitee Statement to the Company, and consistent
with the time period of this Agreement as set forth in Section 5 of this Agreement, submit to the
Company a written request for indemnification pursuant to this Section 3(a). No determination of
Indemnitee’s entitlement to indemnification shall be made until such written request for a
determination is submitted by Indemnitee to the Company pursuant to this Section 3(a).

5

 

          (b) No written request for indemnification or determination of Indemnitee’s entitlement to
indemnification shall be required in order to obtain advancement of Expenses pursuant to Section
2(c).

          (c) The failure to submit a written request to the Company will relieve the Company of its
indemnification obligations under this Agreement only to the extent the Company can establish that
such failure to make a written request resulted in actual material prejudice to it, and the failure
to make a written request will not relieve the Company from any liability which it may have to
indemnify the Indemnitee otherwise than under this Agreement.

          (d) The Company shall, promptly upon receipt of such a request for indemnification, advise the
Board of Directors of the Company in writing that the Indemnitee has requested indemnification.

          (e) The Indemnitee shall cooperate with the Reviewing Party making such
determination with respect to the Indemnitee’s entitlement to indemnification, including providing
to such Reviewing Party upon request any documentation or information which is not privileged or
otherwise protected from disclosure and which is reasonably available to the Indemnitee and
reasonably necessary to such determination.

          (f) Any costs or expenses (including attorneys’ fees and disbursements) incurred by the
Indemnitee in so cooperating with the Reviewing Party, as the case may be, making such
determination shall be advanced and borne by the Company (where the Indemnitee executes and
delivers to the Company the Indemnitee Statement) irrespective of the determination as to the
Indemnitee’s entitlement to indemnification) and the Company should be obligated to indemnify and
hold the Indemnitee harmless therefrom.

          (g) In making a determination with respect to Indemnitee’s entitlement to
indemnification hereunder, the Reviewing Party making such determination shall presume that the
Indemnitee is entitled to indemnification under this Agreement if the Indemnitee has submitted an
Indemnitee Statement, and the Company shall have the burden of proof to overcome that presumption
in connection with the making by any person, persons or entity of any determination contrary to
that presumption. Neither the failure of the Company (including by its Board of Directors) or of
Special Legal Counsel to have made a determination prior to the commencement of any judicial
proceeding or arbitration pursuant to this Agreement that indemnification is proper in the
circumstances because the Indemnitee has met the applicable standard of conduct, nor an actual
determination by the Company (including by its Board of Directors) or by Special Legal Counsel that
the Indemnitee has not met such applicable standard of conduct, shall create a presumption that the
Indemnitee has not met the applicable standard of conduct.

          (h) If the Reviewing Party shall not have made a determination within sixty (60)
days after receipt by the Company of the Indemnitee’s written request for indemnification pursuant
to Section 3(a) of this Agreement, the requisite determination of entitlement to indemnification
shall be deemed to have been made and the Indemnitee shall be entitled to such indemnification,
absent (i) a failure by the Indemnitee to comply with Section 3(e) hereof, (ii) a misstatement by
the Indemnitee of a material fact, or an omission of a material fact necessary to make the
Indemnitee’s statement not materially misleading, in connection with the request for
indemnification, or (iii) a prohibition of such indemnification under applicable law; provided,
however, that such 60-day period may be extended for a reasonable time, not to exceed an additional
thirty (30) days, if the Special Legal Counsel making the determination with respect to

6

 

entitlement to indemnification in good faith requires such additional time for the obtaining
or evaluating of documentation and/or information relating thereto.

          (i) The termination of any Proceeding or of any claim, issue or matter therein, by
judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent,
shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the
right of the Indemnitee to indemnification or create a presumption that the Indemnitee did not meet
any particular standard of conduct required pursuant to this Agreement.

          (j) For purposes of any determination of good faith, the Indemnitee shall be deemed
to have acted in good faith if the Indemnitee’s action or failure to act is based on the records or
books of account of the Enterprise, including financial statements, or on information supplied to
the Indemnitee by the officers, employees or committees of the board of directors of the Enterprise
in the course of their duties, or on the advice of legal counsel for the Enterprise or on
information or records given or reports made to the Enterprise by an independent certified public
accountant or by an appraiser or other expert selected by the Enterprise. The provisions of this
Section 3(j) shall not be deemed to be exclusive or to limit in any way the other circumstances in
which the Indemnitee may be deemed or found to have met the applicable standard of conduct set
forth in this Agreement.

          (k) The knowledge and/or actions, or failure to act, of any other director, partner,
managing member, officer, agent, employee or trustee of the Enterprise shall not be imputed to the
Indemnitee for purposes of determining his right to indemnification under this Agreement.

     4. Remedies.

          (a) In the event that (i) a determination is made pursuant to Section 2(a) of this
Agreement that the Indemnitee is not entitled to indemnification under this Agreement, (ii) payment
of Expenses is not timely made pursuant to Section 2(c) or Section 3(f) of this Agreement within
ten (10) days after receipt by the Company of a written request therefor, (where the Indemnitee has
executed and delivered to the applicable Company the Indemnitee Statement), (iii) payment of
indemnification is not made within ten (10) days after a determination has been made by the
Reviewing Party that the Indemnitee is entitled to indemnification pursuant to Section 2(a) of this
Agreement, (iv) an Enterprise or any other person takes or threatens to take any action to declare
this Agreement void or unenforceable, or institutes any litigation or other action or Proceeding
designed to deny, or to recover from, the Indemnitee the benefits provided or intended to be
provided to the Indemnitee hereunder, or (v) there is any breach of this Agreement, the Indemnitee
shall be entitled to seek an adjudication by a court of competent jurisdiction as to his
entitlement to such indemnification or payment of Expenses, on a current basis, or may seek an
award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration
Rules of the American Arbitration Association. The Company shall not oppose the Indemnitee’s right
to seek any such adjudication or award in arbitration.

          (b) If the Indemnitee has commenced adjudication or arbitration to secure a determination,
with respect to an Indemnifiable Matter, that the Indemnitee is entitled to indemnification under
this Agreement, any determination made by the Reviewing Party that indemnification of the
Indemnitee is not permissible under the Delaware General Corporation Law with respect to
such Indemnifiable Matter shall not be binding, and (where the Indemnitee has executed and
delivered to the applicable Company the Indemnitee Statement) the Indemnitee shall not be required
to reimburse the Company for any Expense Advance until a final judicial

7

 

determination (as to which all rights of appeal therefrom have been exhausted or lapsed) that
indemnification is not legally permissible is made with respect to such matter.

          (c) In the event that a determination shall have been made pursuant to Section 2(a)
of this Agreement that the Indemnitee is not entitled to indemnification, any judicial proceeding
or arbitration, commenced pursuant to this Section 4, shall be conducted in all respects as a de
novo trial, or arbitration, on the merits, and the Indemnitee shall not be prejudiced by reason of
that adverse determination. In any judicial proceeding or arbitration commenced pursuant to this
Section 4, the Company shall have the burden of proving the Indemnitee is not entitled to
indemnification or advancement of Expenses, as the case may be.

          (d) If a determination shall have been made pursuant to Section 2(a) of this
Agreement that the Indemnitee is entitled to indemnification, the Company shall be bound by, and
shall have no right to challenge, such determination in any judicial proceeding or arbitration
commenced pursuant to this Section 4, absent a misstatement by the Indemnitee of a material fact,
or an omission of a material fact necessary to make the Indemnitee’s statement not materially
misleading, in connection with Indemnitee’s request for indemnification.

          (e) In the event that the Indemnitee is a Party to (or a witness or otherwise a
participant in) a judicial proceeding or arbitration pursuant to this Section 4 concerning the
Indemnitee’s rights under, or to recover damages for breach of, this Agreement, the Indemnitee
shall be entitled to recover from the Company, and shall be indemnified by the Company against, any
and all Expenses incurred by the Indemnitee (where, with respect to an Indemnifiable Matter, the
Indemnitee has executed and delivered to the Company the Indemnitee Statement) in such judicial
adjudication or arbitration.

          If it shall be determined in said judicial adjudication or arbitration that the Indemnitee is
entitled to receive part but not all of the indemnification or advancement of Expenses sought, the
Indemnitee shall be entitled to recover from the Company (who shall be liable therefor), and shall
be indemnified by the Company against, any and all Expenses incurred by the Indemnitee in
connection with such judicial adjudication or arbitration.

          (f) The Company shall be precluded from asserting in any judicial proceeding or
arbitration commenced pursuant to this Section 4 that the procedures and presumptions of this
Agreement are not valid, binding and enforceable and shall stipulate in any such court or before
any such arbitrator that the Company is bound by all the provisions of this Agreement.

          (g) Notwithstanding anything in this Agreement to the contrary, no determination as to
Indemnitee’s entitlement to indemnification under this Agreement shall be required to be made prior
to the final disposition of the Proceeding.

     5. Duration of the Agreement. This Agreement shall continue until and terminate
upon the later of: (a) 10 years after the date that the Indemnitee shall have ceased to serve as a
director of the Company or as a director, partner, managing member, officer, employee, agent or
trustee of any other Enterprise; or (b) 1 year after the final termination (i) of any Proceeding
(including any rights of appeal) then pending in respect of which the Indemnitee requests
indemnification or advancement of Expenses hereunder and (ii) of any judicial proceeding or
arbitration pursuant to Section 4 of this Agreement (including any rights of appeal) involving the
Indemnitee. This Agreement shall be binding upon the Company and its successors and assigns and
shall inure to the benefit of the Indemnitee and his heirs, executors and administrators.

8

 

     6. Non-exclusivity, Etc. The rights of indemnification and to receive payment of
Expenses, on a current basis, as provided by this Agreement shall not be deemed exclusive of any
other rights to which the Indemnitee may at any time be entitled under applicable law, the
Company’s or any other Enterprise’s certificate of incorporation, the Company’s or any other
Enterprise’s Bylaws, any agreement, a vote of stockholders or a resolution of directors, or
otherwise.

     No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or
restrict any right of the Indemnitee under this Agreement in respect to any action taken or omitted
by such Indemnitee prior to such amendment, alteration or repeal.

     To the extent that a change in Delaware law, whether by statute or judicial decision, permits
greater indemnification or advancement of Expenses than would be afforded currently under the
Company’s or any other Enterprise’s Bylaws and this Agreement, it is the intent of the parties
hereto that the Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such
change. No right or remedy herein conferred is intended to be exclusive of any other right or
remedy, and every other right and remedy shall be cumulative and in addition to every other right
and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The
assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the
concurrent assertion or employment of any other right or remedy.

     7. Liability Insurance. To the extent that the Company maintains an insurance
policy or policies providing liability insurance for directors, partners, managing members,
officers, employees, agents or trustees of the Company or of any other Enterprise, the Indemnitee
shall be covered by such policy or policies in accordance with its or their terms to the maximum
extent of the coverage available for any such director, partner, managing member, officer,
employee, agent or trustee under such policy or policies.

     If, at the time of the receipt of a notice of a claim pursuant to Section 2 hereof, the
Company has director and officer liability insurance in effect, the Company shall give prompt
notice of the commencement of such Proceeding to the insurers in accordance with the procedures set
forth in the respective policies. The Company shall thereafter take all necessary or desirable
action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result
of such Proceeding in accordance with the terms of such policies. The Company shall maintain an
insurance policy or policies for directors, partners, managing members, officers, employees, agents
or trustees of the Company and of all Enterprises in an amount reasonably acceptable to the Chief
Executive Officer of the Company.

     8. Amendments, Etc. No supplement, modification or amendment of this Agreement
shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the
provisions of this Agreement shall constitute a waiver of any other provisions hereof (whether or
not similar) nor shall such waiver constitute a continuing waiver.

     9. Subrogation. Subject to Section 11(b) of this Agreement, in the event of
payment under this Agreement, the Company shall be subrogated to the extent of such payment to all
of the rights of recovery of the Indemnitee, who shall execute all such papers and do all such
things as may be necessary or desirable to secure such rights.

     10. No Duplication of Payments. Subject to Section 11(b) of this Agreement, the
Company shall not be liable under this Agreement to make any payment in connection with any

9

 

Proceeding involving the Indemnitee to the extent the Indemnitee has otherwise received
payment (under any insurance policy, the Company’s certificate of incorporation or by-laws or
otherwise) of the amounts otherwise indemnifiable hereunder.

     11. Contribution; Jointly Indemnifiable Claims.

          (a) To the fullest extent permissible under applicable law, if the indemnification
provided for in this Agreement is unavailable to the Indemnitee for any reason whatsoever, the
Company, in lieu of indemnifying the Indemnitee, shall contribute to the amount incurred by the
Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in
settlement and/or for Expenses, in connection with any claim relating to an Indemnifiable Matter
under this Agreement, in such proportion in order to reflect (i) the relative benefits received by
the Company and the Indemnitee as a result of the event(s) and/or transaction(s) giving cause to
such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officer,
employees and agents) and the Indemnitee in connection with such event(s) and/or transaction(s).

          (b) Given that certain Jointly Indemnifiable Claims may arise, the Company
acknowledges and agrees that the Company shall be fully and primarily responsible for the payment
to the Indemnitee in respect of indemnification or advancement of Expenses in connection with any
such Jointly Indemnifiable Claim, whether Indemnitee’s right to indemnification or advancement
arises, pursuant to and in accordance with (as applicable) the terms of (i) the Delaware General
Corporation Law, (ii) the Amended and Restated Certificate of Incorporation and the By-Laws of the
Company, (iii) this Agreement, (iv) any other agreement between either Company or any other
Enterprise and the Indemnitee pursuant to which the Indemnitee is indemnified, (v) the laws of the
jurisdiction of incorporation or organization of any other Enterprise and/or (vi) the certificate
of incorporation, certificate of organization, bylaws, partnership agreement, operating agreement,
certificate of formation, certificate of limited partnership or other organizational or governing
documents of any other Enterprise ((i) through (vi) collectively, the “Indemnification
Sources”), without regard to any right of recovery the Indemnitee may have from the
Indemnitee-Related Entities. Under no circumstance shall either Company or any other Enterprise be
entitled to any right of subrogation or contribution from the Indemnitee-Related Entities pursuant
to any right of indemnification Indemnitee has under a contract between Indemnitee and any
Indemnitee-Related Entities, and no right of indemnification or advancement of Expenses or any
other right of recovery the Indemnitee may have from the Indemnitee-Related Entities shall reduce
or otherwise alter the rights of the Indemnitee or the obligations of either Company or any other
Enterprise under the Indemnification Sources.

          (c) In the event that any of the Indemnitee-Related Entities shall make any payment to the
Indemnitee in respect of indemnification or advancement of Expenses with respect to any Jointly
Indemnifiable Claim, (i) the Company shall, and to the extent applicable shall cause the other
Enterprises to, reimburse, indemnify and hold harmless each Indemnitee-Related Entity making such
payment to the extent of such payment promptly upon written demand from such Indemnitee-Related
Entity, (ii) to the extent not previously and fully reimbursed by the Company and/or any other
Enterprise pursuant to clause (i), the Indemnitee-Related Entity making such payment shall be
subrogated to the extent of the outstanding balance of such payment to all of the rights of
recovery of the Indemnitee against the Company and/or any other Enterprise, as applicable, and
(iii) Indemnitee shall execute all papers reasonably required and shall do all things that may be
reasonably necessary to secure such rights, including

10

 

the execution of such documents as may be necessary to enable the Indemnitee-Related Entities
effectively to bring suit to enforce such rights.

          (d) The Company and Indemnitee agree that each of the Indemnitee-Related Entities shall be
third-party beneficiaries with respect to this Agreement entitled to enforce this Agreement as
though each such Indemnitee-Related Entity were a party to this Agreement. The Company shall cause
each of the other Enterprises to perform the terms and obligations of this Agreement as though each
such Enterprise was a party to this Agreement.

     12. Joint and Several Liability. To the extent that both the Company and one or
more Enterprises are obligated to indemnify the Indemnitee, the Company shall be jointly and
severally obligated with such Enterprise(s) to indemnify the Indemnitee pursuant to the terms of
this Agreement.

     13. Binding Effect, Etc. This Agreement shall be binding upon and inure to the benefit of and
be enforceable by the parties hereto and their respective successors, assigns, including, with
respect to the Company, any direct or indirect successor by purchase, merger, consolidation or
otherwise to all or substantially all of the business or assets of the Company, and including, with
respect to the Indemnitee, the Indemnitee’s estate, heirs and personal representatives. This
Agreement shall continue in effect regardless of whether the Indemnitee continues to serve as an
officer or director of the Company or of any other Enterprise.

     14. Severability. If any provision or provisions of this Agreement shall be held to
be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and
enforceability of the remaining provisions of this Agreement (including, without limitation, each
portion of any Section of this Agreement containing any such provision held to be invalid, illegal
or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be
affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law;
(b) such provision or provisions shall be deemed reformed to the extent necessary to conform to
applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the
fullest extent possible, the provisions of this Agreement (including, without limitation, each
portion of any section of this Agreement containing any such provision held to be invalid, illegal
or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to
give effect to the intent manifested thereby.

     15. Notices. All notices, requests, demands and other communications under this
Agreement shall be in writing and shall be deemed to have been duly given (a) if delivered by hand
and receipted for by the party to whom said notice or other communication shall have been directed,
or (b) mailed by certified or registered mail with postage prepaid, on the third business day after
the date on which it is so mailed:

          (a) If to the Indemnitee, at the address indicated on the signature page of this
Agreement, or such other address as the Indemnitee shall provide in writing to the Company.

          (b) If to the Company to: LPL Holdings, Inc., One Beacon Street, 22nd Floor, Boston,
MA 02108, Attn: Secretary (or, if the Indemnitee is at such time the Secretary, to the President of
the Company).

     16. Governing Law. This Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of Delaware applicable to contracts made and to be performed
in such state without giving effect to the principles of conflicts of law.

11

 

     17. References. References to statutes, regulations and documents shall be deemed to
mean such statutes, regulations and documents as amended from time to time and any successor
statutes, regulations and documents.

12

 

     IN WITNESS WHEREOF, the parties have caused this Agreement to be signed as of the day and year
first above written.

	 	 	 	 	 

	INDEMNITEE	 	 
	 

	 	 	 	 
	By:

	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 
	Address:	 	 

 

 

     IN WITNESS WHEREOF, the parties have caused this Agreement to be signed as of the day and year
first above written.

	 	 	 	 	 
	 	LPL INVESTMENT HOLDINGS INC.

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}]]