Document:

EME-EX10(e)(e)_2013.12.31-Q4

EXHIBIT 10(e)(e)

EMCOR GROUP, INC.
VOLUNTARY DEFERRAL PLAN
First Amendment 

Pursuant to Section 7.1 of the EMCOR Group, Inc. Voluntary Deferral Plan (the "Plan"), the Company hereby amends the Plan, effective with respect to deferrals for Plan Years commencing on or after January 1, 2014, as follows:
		
	1.
	Section 3.1(a) is hereby amended to read in its entirety as follows:

"Deferred Compensation Agreement. For each Plan Year, an Eligible Employee may elect to defer up to 50% of the amount by which his or her Base Pay exceeds the dollar limitation in effect for the Plan Year under Section 401(a)(17) of the Code and up to 100% of his or her Bonus Compensation for the Plan Year, by entering into a Deferred Compensation Agreement with the Company in accordance with this Section 3.1. Elective Credits equal to the amounts, if any, deferred from Base Pay or Bonus Compensation, as the case may be, shall be credited to the Participant's Account as soon as practicable after the deferral is withheld. Each such election with respect to a Plan Year beginning on or after January 1, 2014 shall also specify a payment option from among the choices described in Section 5.1(a) of the Plan."
		
	2.
	Section 3.1(b) is hereby amended by inserting the words "(including, for deferral elections with respect to Plan Years beginning on or after January 1, 2014, any provisions thereof specifying a payment method)" immediately after the words "Deferral elections under Section 3.1(a)."

		
	3.
	Section 5.1 is hereby amended to read in its entirety as follows:

"Time and form of payment. Subject to Section 5.4, each Account shall be paid to the Participant (or, in the event of the Participant's death, to his or her Beneficiary) in accordance with this Section 5.1 following the earlier to occur of the Participant's Separation from Service (a "payment on account of Separation from Service") or the occurrence of a Change in Control (a "payment on account of a Change in Control").
(a)    Payment on account of Separation from Service. A payment on account of a
Participant's Separation from Service shall be made as follows, subject in each case to Section 5.4 below:
(i) If the Participant's Separation from Service occurs after the Participant has attained age 59%, payment will be made pursuant to whichever of payment option 1 or payment option 2 below the Participant elected under
Section 3.1(a) at the time of initial deferral:
		
	•
	Option 1: payment shall be made in a single lump-sum cash payment to the Participant on the first business day of the month following the end of the six-month period following the Separation from Service (or, if earlier, upon the death of the Participant).

		
	•
	Option 2: payment shall be made in five (5) annual installments, with the first installment to be paid on the first business day of the month following the end of the six-month period following the Separation from Service, the second installment to be paid on July 1 of the calendar year following the calendar year in which the first installment is paid, and the third through fifth installments to be paid on the first, second and third anniversaries, respectively, of the July 1 payment date for the second installment. Each installment payment shall be in an amount determined by dividing (i) the balance of the Participant's account as of the last day of the month immediately preceding the payment date by (ii) the number of remaining scheduled installments.

(ii) If the Participant's Separation from Service occurs prior to the date the Participant attains age 591,4 payment shall be made in a single lump-sum cash payment to the Participant on the first business day of the month following the end of the six-month period following the Separation from Service (or, if earlier, upon the death of the Participant).
(b)    Payment on account of a Change in Control. If a Change in Control occurs prior
to a Participant's Separation from Service, payment shall be made at or within thirty (30) days prior to the Change in Control. If a Change in Control occurs at any later time and before the Participant's vested Account is fully distributed, any remaining portion of the Participant's vested Account shall be distributed in accordance with the immediately preceding sentence; provided, that if the Change in Control occurs prior to the end of the six-month period following the Separation from Service, any such accelerated payment shall, to the extent, if any, required by Section 409A and the regulations thereunder, as determined by the Administrator, be made on the first business day following the expiration of such six-month period."
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IN WITNESS WHEREOF, the Company has caused this instrument to be executed by its duly
authorized officer as of the    day of    , 2013.
EMCOR GROUP, INC.
By:
Name:
Title:EME-EX10(g)(g)_2013.12.31-Q4

EXHIBIT 10(g)(g)

Restricted Stock Unit Award Agreement 
October 23, 2013

EMCOR GROUP, INC.
301 Merritt Seven
Norwalk, Connecticut 06851-1092

Agreement made this 23rd day of October, 2013, between EMCOR GROUP, INC., a Delaware corporation (the “Company”), and Stephen W. Bershad (“Bershad”). 
1.    Restricted Stock Unit Award.
Bershad is hereby awarded, pursuant to the Company’s 2010 Incentive Plan (the “Plan”) and subject to its terms, a Restricted Stock Unit (“RSU”) award (the “Award”) as hereinafter described. The Award gives Bershad the conditional right to receive, without payment but subject to the conditions and limitations set forth in this Agreement and the Plan, (i) 1,881 Shares (the “Basic Shares”) and (ii) an additional whole number of Shares (rounded down to the nearest whole number) (the “Dividend Equivalent Shares”) equal in value (determined as hereinafter provided) to the dividends, if any, that would have been paid with respect to the Basic Shares had the Basic Shares been issued to Bershad on the date hereof.  For purposes of (ii), the number of Dividend Equivalent Shares with respect to any dividend shall be calculated as of the date on which the dividend is paid to holders of Company common stock.  For the avoidance of doubt, no Shares (including Dividend Equivalent Shares) shall be payable in respect of the Award if the Award is forfeited, as hereafter provided, and no Dividend Equivalent Shares shall be payable in respect of any dividend for which the record date falls on or after the date on which Bershad or any other person entitled to the Basic Shares becomes the record owner of such Shares for dividend record-date purposes.  Except as otherwise expressly provided, all terms used herein shall have the same meaning as in the Plan.
2.    Vesting.
One-half of Award shall vest on the date hereof, one-fourth of the Award shall vest on January 1, 2014 and the balance of the Award shall vest on April 1, 2014.  
Upon any termination of Bershad’s services as Chairman of the Board of Directors of the Company, all RSUs then held by him that have not previously vested (determined after taking into account the previous paragraph) shall be immediately forfeited.

3.    Delivery of Shares.
Subject to Section 4 below, the Company shall effect delivery of the Shares with respect to this Award to Bershad (or, in the event of Bershad’s death, to the person to whom the Award has passed by will or the laws of descent and distribution) on the date Bershad ceases to be a director of the Company.  No Shares will be issued pursuant to this Award unless and until all legal requirements applicable to the issuance or transfer of such Shares have been complied with to the satisfaction of the Board of Directors of the Company.  
4.    Dividends; Other Rights. 
The Award shall not be interpreted to bestow upon Bershad any equity interest or ownership in the Company or any Affiliate prior to the date on which the Company delivers Shares to Bershad.  Bershad is not entitled to vote any Shares by reason of the granting of this Award or to receive or be credited (other than as provided in Section 1 above) with any dividends declared and payable on any Share prior to the delivery of such Shares.
5.    Certain Tax Matters.  
Bershad expressly acknowledges that because this Award consists of an unfunded and unsecured conditional promise by the Company to deliver Shares in the future, subject to the terms hereof, it is not possible to make a so-called “83(b) election” with respect to the Award. By accepting this Award, Bershad agrees to be responsible for all taxes (including any withholding taxes) to which he may be subject by reason of the vesting of or payment under the Award.
6.    Nontransferability.
Neither this Award nor any rights with respect thereto may be sold, assigned, transferred (other than by will or the laws of descent and distribution), pledged or otherwise encumbered, except as the Board of Directors of the Company may otherwise determine.  
7.    Effect on Right to Be Continued as a Director.
This Award shall not confer upon Bershad any right to be continued as Chairman of the Board or as a director of the Company or derogate from any right of the Company or its stockholders to decline to nominate Bershad for election as a director, to decline to elect Bershad as a director, or, subject to the provisions of the bylaws of the Company and applicable law, to remove Bershad as a director, with or without cause.
8.    Amendments.
No amendment of any provision of this Agreement shall be valid unless the same shall be in writing.

9.    Governing Law.
This Agreement shall be governed and construed by and determined in accordance with the laws of the State of Delaware, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware.

The Company, by its duly authorized officer, and Bershad have executed this Agreement as of the date first set forth above.
                            
EMCOR GROUP, INC.

By:_____________________________
      Anthony J. Guzzi
Title: President and Chief Executive Officer

Agreed and Accepted:

_______________________________
Stephen W. Bershad

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