Document:

exhibit10_24x05282022

  June 13, 2021     Christopher Baldwin  3235 Meadow Ln  Collegeville, PA  19426    Dear Chris,     We are excited about the acquisition of Knoll, Inc. (“Knoll”) by Herman Miller,  Inc. (“Herman Miller”) and we believe that your leadership role is essential to  the transition and future long terms growth of the combined organization and  will be a key to its future success.  We are pleased to extend this offer for you  to join Herman Miller as our Group President – Newco (Company name to be  determined), reporting to our Chief Executive Officer, effective upon the  completion of the acquisition. Your responsibilities will include, but not be  limited to, the Knoll brand, the Group brands and the International business  unit.    Reference is made to the Agreement and Plan of Merger (the “Merger  Agreement”) among Herman Miller, Heat Merger Sub, Inc. (“Merger Sub”) and  Knoll, dated as of April 19, 2021, pursuant to which Merger Sub will merge with  and into Knoll (the “Merger”) with Knoll surviving as a wholly owned subsidiary  of Herman Miller.  This letter (this “Letter”) is intended to memorialize our  agreement regarding the terms of your employment with Herman Miller, and  your related compensation and benefits, upon and following the closing of the  Merger (the “Closing”).  In the event that (i) your employment with Knoll  terminates for any reason prior to the date on which the Closing occurs (the  “Effective Date”), or (ii) the Merger Agreement is terminated without the  occurrence of the Merger, this Letter will be void ab initio and will have no  further force or effect and none of the parties will have any obligations  hereunder.  Capitalized terms used but not otherwise defined herein will have  the meanings given to them in the Merger Agreement    Base Salary  Your annual base salary will be $561,000 (less deductions required by law)  payable every other week in accordance with Herman Miller’s standard payroll  procedures.  Any future base pay increases will be driven by job performance,  pay administration program guidelines and review of competitive market data.     Bonus  In accordance with the terms of the Merger Agreement, in respect of calendar  year 2021 you will receive an annual cash bonus payment of $500,000, which  is equal to your target bonus opportunity under the Knoll annual bonus  program, subject to your continued employment with Herman Miller through  December 31, 2021.  Such annual cash bonus payment will also be payable to  

 

  2    you if experience a Qualifying Termination (as defined below) on or after the  Effective Date and prior to December 31, 2021.  If the requirements for  payment are met, this bonus will be paid to you within 30 days following the  earlier of December 31, 2021 and your Qualifying Termination.    Beginning in January 2022, you will be eligible to participate in Herman Miller’s  annual Executive Cash Incentive Bonus, with a target award equal to 70% of  your annual base salary.  The amount of the award will be based on the level of  achievement of such corporate and/or individual performance goals as are  determined by the Herman Miller Board Executive Compensation Committee  (“BECC”) from time to time.  Your actual bonus award payout for Herman  Miller’s 2022 fiscal year will be prorated for the period from January 2022  through May 2022 to avoid duplication with respect to your Knoll annual bonus  payment for calendar year 2021, and will be paid to you at the same time as  fiscal year 2022 bonuses are paid to other executives who participate in  Herman Miller’s annual Executive Cash Incentive Bonus.  The details of the  Executive Cash Incentive Bonus are provided separately and are governed by  the BECC.      Long-Term Incentive  You will also be eligible to participate in our Long-Term Incentive (“LTI”)  Program; the first grant will be provided on the later of (i) the date that other  Herman Miller executives receive their 2021 annual LTI award, which is  expected to occur in in the third quarter of the 2021 calendar year and (ii) the  first business day following the Effective Date.  The target grant date value for  your first LTI grant is $315,600, which represents an annualized opportunity of  135% of your annual base salary, prorated for the period from January 2022  through May 2022 to avoid duplication with respect to your Knoll long-term  incentive award granted in calendar year 2021. The targeted award value,  amount granted, and type of equity-based instrument used to deliver award  value is subject to annual adjustment by the BECC. The LTI grant award  agreements include a confidentiality covenant that applies during employment  and for 12 months thereafter, as well as a non-competition and non-solicitation  covenant that applies during employment and for 12 months thereafter.      Assumed Awards  Upon the Closing, the equity awards granted to you by Knoll prior to the  Closing (the “Assumed Awards”) will be assumed by Herman Miller in  accordance with the terms of the Merger Agreement and will otherwise  continue to be subject to their terms and conditions in effect as of immediately  prior to the Closing, except that for purposes of each such award, the  definitions of “Qualifying Termination,” “Cause” and “Good Reason” are hereby  superseded and replaced in their entirety with the corresponding definitions set  forth in this Letter.    

 

  3    Stock Ownership Requirement   Herman Miller believes that ownership aligns the interest of employees with  that of shareholders.  In support of this belief, and given the nature of your role,  your stock ownership requirement is equal to four times  your base salary or  $2,244,000.00.  Detail of the requirements may be found in The Stock  Ownership Guidelines located in Appendix 1.    Cash Retention Award  On the Effective Date, you will be granted a cash retention award (the “Cash  Retention Award”) in the aggregate amount of $2,100,000.  The Cash  Retention Award will vest as follows: (i) one-third on the date that is one month  following the Effective Date; (ii) one-third on the first anniversary of the  Effective Date; and (iii) one-third on the second anniversary of the Effective  Date, subject, in each case, to your continued employment with Herman Miller  through the applicable vesting date.  Any vested portion of the Cash Retention  Award will be paid within 30 days following the applicable vesting date.       If you experience a Qualifying Termination (as defined below), then, subject to  your execution and delivery of the Herman Miller Termination and Mutual  Release Agreement and such agreement becoming effective and irrevocable  within 60 days following your Qualifying Termination (the “Release  Requirement”), any then-unvested portion of the Cash Retention Award will  vest and be paid no later than 60 days following the Qualifying Termination.      Severance  If you experience a Qualifying Termination (as defined below in this Letter)  during the period commencing on the Effective Date and ending on the second  anniversary of the Effective Date (the “Initial Employment Period”), you will  be entitled to receive, subject to your satisfaction of the Release Requirement,  (i) continuation of certain employee benefits in accordance with Section 4(c) of  the Knoll, Inc. Management Continuity Plan (as in effect immediately prior to  the Effective Date) (the “Management Continuity Plan”), (ii) payment for  outplacement services in accordance with Section 4(d) of the Management  Continuity Plan, and (iii) vesting and payment of the Assumed Awards in  accordance with Section 4(g) of the Management Continuity Plan.  You  acknowledge and agree that the payments and benefits described in the  preceding sentence are the exclusive severance payments and benefits for  which you will be eligible during the Initial Employment Period and you hereby  waive any and all rights that you may have to receive any other severance  payments or benefits under the terms of the Management Continuity Plan or  otherwise.  For avoidance of doubt, nothing in the preceding this paragraph is  intended to limit or alter your ability to participate in the Herman Miller LTI  Program following the Closing or your ability, after the Initial Employment  Period, to participate in the Herman Miller Salary Continuation Program in  accordance with the following paragraph and any other provisions of this Letter.   

 

  4    Following the Initial Employment Period, you will be eligible to participate in the  Herman Miller Salary Continuation Program in accordance with its terms as in  effect from time to time.  Currently, your position would be eligible for 18- months of salary continuation, subject to satisfaction of the Release  Requirement.  For purposes of clarity, given that you will have been employed  by Herman Miller for two years before becoming eligible for the Herman Miller  Salary Continuation Program, the proration that would otherwise apply under  the program to new executives during the first two years of employment will not  apply to you.    Restrictive Covenants  You acknowledge and agree that you remain subject to the restrictive  covenants set forth in Section 6 of the Management Continuity Plan.  In  addition, due to the nature of your role, and as an express condition to this  offer, you hereby accept and agree to comply with the Special Terms of  Employment outlined in Appendix 2.  The same terms and conditions will be  included in your annual executive compensation statement.  These terms may  be adjusted from time to time due to business or legal requirements.    Retirement Planning  We have a great retirement plan available to you as an employee of Herman  Miller: The Herman Miller Profit Sharing and 401(k) Plan.  This plan currently  provides an 8% Herman Miller contribution to your retirement account.  There  are two (2) parts to this retirement opportunity: (i) an automatic contribution and  (ii) a matching contribution, each up to 4%, which are described separately in  the Profit Sharing and 401(k) Plan materials.  • Herman Miller will automatically enroll you in the 401(k) Plan at a 3%  deferral rate after 30 days of employment.  You may change this  deferral percentage at any time by logging into your account at  www.vanguard.com    You will also be eligible for the Herman Miller Executive Equalization Plan.   This non-qualified plan allows you to defer up to 50% of your base salary and  100% of your executive bonus.  In addition, Herman Miller may make  contributions to this plan on your behalf to equalize any lost contributions due  to the $290,000 annual IRS limitation on the Profit Sharing and 401(k) Plan.   Enrollment for this Plan is conducted annually in November of each year.      Vacation   You will be given discretionary paid time off (“PTO”), also referred to as  unlimited PTO; there are no hours, or days, to track or manage.    Start Date and At-Will Employment  Your start date in this new role will be the Effective Date.     

 

  5    Because of the executive level of this position, you will serve at the will of the  President and Chief Executive Officer and the Herman Miller Board of  Directors.  Your severance arrangements are as described above in this Letter.      Certain Definitions   “Cause”  means (i) your material breach of the duties and responsibilities  reasonably assigned to you and commensurate with your position (other than  as a result of incapacity due to physical or mental illness) which is (A)  demonstrably willful and deliberate on your part, (B) committed in bad faith or  without reasonable belief that such breach is in the best interests of Herman  Miller, and (C) not remedied in a reasonable period of time after receipt of  written notice from Herman Miller specifying such breach or (ii) your  commission of a felony involving moral turpitude.    “Good Reason”  means the occurrence of any one or more of the following  without your written consent:    (i) a material diminution in your position or reporting  relationship as set forth in this Letter;    (ii) a material breach by Herman Miller of the terms of this  Letter relating to your annual base salary, annual bonus opportunity, or  annual LTI opportunity; or      (iii) any requirement of Herman Miller that you be based  at a location in excess of 50 miles from the facility which is your principal  business office at the Effective Date.    The existence of Good Reason shall not be affected by your disability.   Notwithstanding anything to the contrary, in order to be eligible to resign for  Good Reason, you must give written notice of the event or circumstance  claimed to constitute Good Reason within 90 days after you first become  aware of such event or circumstance, after which Herman Miller will have a  period of 45 days to cure such event or circumstance, and you may resign for  Good Reason only after the end of such cure period and only if Herman Miller  has not cured such event or circumstance.    “Qualifying Termination” means your termination of employment (i) by  Herman Miller without Cause (other than due to your death or permanent  disability) or (ii) due to your resignation for Good Reason.    Section 280G; Section 409A  The provisions of Section 5 (Maximum Payments) and Section 12 (Compliance  with Section 409A) of the Management Continuity Plan are hereby incorporated  

 

  6    by reference herein, mutatis mutandis, and shall apply to this Letter as if set  forth at length herein.     Entire Agreement; Amendments  This Letter represents the complete understanding between you and Herman  Miller regarding the subject matter of this Letter and supersedes all prior  agreements and understandings, whether written or oral, regarding the subject  matter of this Letter.  Without limiting the generality of the preceding sentence,  you agree that, as of the Effective Date and except to the extent expressly  provided herein, this Letter will supersede your rights and entitlements under  the Management Continuity Plan in their entirety.  No amendment to this Letter  shall be binding upon either party unless in writing and signed by or on behalf  of such party.      Chris, we are excited about the potential of you joining Herman Miller in this  critical role and look forward to the contributions we know you will make.      [Signature Page Follows.] 

 

  [Signature Page to C. Baldwin Offer Letter]    To accept this offer, please sign and pdf a copy of this letter to Andi Owen at  andi_owen@hermanmiller.com and retain the original for your own records.     Regards      __________________________   __________________  Andrea Owen       Date  President & Chief Executive Officer      Acceptance of Offer:      __________________________   ____________________  Name       Date                                6/13/2021 

 

  A-1  Appendix 1   Stock Ownership Guidelines  1) The total value of the individual executive’s holdings is determined by  using the current share price of Herman Miller stock multiplied by the  total shares held.  Shares that will be used in the calculation of  ownership will consist of:    Certificates, Dividend Reinvestment and ESPP in  Computershare  Unvested RSUs and Restricted Stock  Appreciated value of vested and unvested Stock Options  Unvested Performance Share Units (PSUs)  Shares held in Deferred Compensation Plan  Shares held in the 401(k) and Profit Sharing Plans  Shares held in street name/spouse  Shares held in trust for the benefit of the executive or his/her  family  Shares owned by any immediate dependent family member  residing in the same household     2) The target ownership requirement is a multiple of current base  compensation.  The CEO target ownership requirement is 6X base  salary.  There is a 4X base salary for those executives with target long  term incentive award value equal to or greater than 100% of base  salary.  Remaining members of the  Leadership Team have an  ownership requirement of 3X base salary.     3) When selling shares executives who have not met applicable ownership  guidelines are required to retain a minimum 40% of the pretax value of  vested restricted stock, performance shares, restricted stock units,  deferred stock and 40% of the pretax spread value of exercised stock  options.  Ownership level will be calculated at any time an executive  exercises options and/or sells shares.    The BECC has also authorized the CEO to make exceptions as needed, but  with the guidance that this should occur only in extraordinary circumstances.        

 

  A-2    Appendix 2   Special Terms of Your Employment  [See accompanying PDF.]exhibit10_25x05282022

1  RESTRICTED STOCK AGREEMENT  UNDER THE  KNOLL INC.  2018 STOCK INCENTIVE PLAN  THIS AGREEMENT (the “Agreement”) is made effective as of the day of , 20  (the “Grant Date”), between  Knoll, Inc., a Delaware corporation (the “Company”), and  (the “Grantee”). Except as otherwise specifically provided  herein, capitalized terms used herein shall have the meanings attributed thereto in the Knoll, Inc. 2018 Stock Incentive  Plan (the “Plan”).   WHEREAS, pursuant to the Plan, the Company desires to grant the Grantee Restricted Stock on the terms and  conditions set forth herein.  NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other good and  valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties hereto hereby agree as  follows:  1. Grant of Restricted Stock. Subject to the terms and conditions set forth herein and in the Plan, the Company hereby grants to the Grantee _________ shares of Restricted Stock (the “Restricted Stock”). Upon request, the  Grantee shall execute a stock power, in blank, with respect to such Restricted Stock and deliver the same to the  Company. The Grantee expressly acknowledges receipt of a copy of the Plan and agrees to be bound by all of the  provisions of this Agreement and the Plan.  2. Non‐Transferability. During the period prior to the vesting of such Shares as set forth in Section 3 hereof (the “Restriction Period”), the Grantee may not sell, transfer, pledge, or otherwise encumber or dispose of the Restricted  Stock.  3. Vesting and Lapse of Restrictions; Forfeiture. (a) Vesting Schedule. Except as otherwise specifically provided in this Section 3, the vesting of the Restricted Stock is contingent on the Grantee’s Continuous Service from the Grant Date through the vesting date. The  Restriction Period with respect to any Restricted Stock shall commence on the Grant Date and shall lapse as to such  Restricted Stock on the date that such Share becomes vested pursuant to this Section 3. Except as otherwise provided in  this Section 3, as set forth below, the Restricted Stock shall vest, and the restrictions imposed thereon shall lapse, on the  ______ anniversary of the Grant Date.  (b) Change in Control. Section 14.6 of the Plan (or a successor provisions) shall apply in the event of a Change in Control, and for purposes of such section, the term “cause” shall have the meaning set forth in Section 3(f)  below.    (c) Accelerated Vesting on Termination of Employment.  If the Grantee’s Continuous Service terminates due to the Grantee’s death, by the Company due to the Grantee’s Disability or by the Company other than for “cause,” a  pro rata portion of the Restricted Stock shall immediately vest and the Restriction Period thereon shall lapse on a pro rata  basis as follows:  (i) The number of Shares of Restricted Stock that shall vest shall be determined by multiplying all of the Shares or Restricted Stock (including vested and unvested) by a fraction, the numerator of which shall be the  number of full months of Continuous Service from the Grant Date through the date of termination of Continuous Service  and the denominator of which shall be ___.  (ii) The date of such pro rata vesting in the event of such a termination of Continuous Service shall be the date on which such termination occurs.  (d) Forfeiture on Termination of Continuous Service. If the Grantee’s Continuous Service is terminated for any reason, except as specifically provided in this Section 3 or Section 14.6 of the Plan (or a successor provisions) or an  Exhibit 10.25 

 

2  employment or other agreement between the Grantee and the Company or a Subsidiary, the Restricted Stock, to the extent  not vested prior to such termination, shall be immediately forfeited to the Company and the Grantee shall have no further  rights with respect to such Shares, but all vested Shares shall continue to be owned by the Grantee.  (e) Committee Determination. Except as otherwise provided in Section 3, whether Continuous Service has been terminated for the purposes of this Agreement, and the reasons therefore, shall be determined by the Committee,  whose determination shall be final, binding and conclusive.  (f) Definition of Cause.  For the purposes of the Restricted Stock and Section 14.6  of Plan (or a successor provision), “cause” shall mean cause as defined in any employment agreement between the Grantee and the  Company or any Subsidiary or, in the absence of any such definition, means (i) the substantial and continued failure of the  Grantee to perform material duties reasonably required of the Grantee by the Company or any Subsidiary or the Board, as  applicable (it being understood that a failure to attain performance objectives shall not in and of itself be treated as a failure  to perform material duties for purpose of this clause (i)) for a period of not less than thirty (30) consecutive days, provided  notice in writing from the Company or the Board, as applicable, is given to the Grantee specifying in reasonable detail the  circumstances constituting such substantial and continued failure, (ii) conduct by the Grantee substantially disloyal to the  Company which conduct is identified in reasonable detail by notice in writing from the Company or the Board, as  applicable, and which conduct, if susceptible of cure, is not cured by the Grantee within 30 days of the Grantee’s receipt of  such notice, (iii) any act of fraud, embezzlement or misappropriation by the Grantee against the Company or any  Subsidiary, (iv) the conviction of the Grantee of a felony (or the equivalent under applicable law) or plea by the Grantee of  guilty or “nolo contendere” to the charge of a felony (or equivalent under applicable law), or (v) in the case of a Grantee  who is a director of the Company, removal of the Grantee from the Board for cause under applicable law. The definition of  “cause” herein shall not modify, amend or otherwise affect the definition of “cause” in any employment or other agreement  with the Company or any Subsidiary.  4. Delivery of Restricted Stock. The Restricted Stock shall be delivered to Grantee in accordance with Section 9.5 of the Plan.  5. Voting and Dividend Right. (a) Voting.  Neither the Grantee nor any person claiming under or through the Grantee will have any of the right to vote the Shares of Restricted Stock unless and until such Restricted Stock vests.  (b) Dividend Rights. If the Company declares a normal cash dividend on its Shares and the record date of such dividend occurs during the Restriction Period, such dividend shall be accumulated and shall be subject to  the same terms and conditions as are applicable to the Restricted Stock to which the dividends relate, including, without  limitation, the restrictions on transfer, forfeiture and vesting provisions contained in this Agreement. For avoidance of  doubt, all such accumulated dividends shall be paid in cash only if and when the Shares of Restricted Stock to which  they relate vests.  6. Binding Effect. This Agreement shall be binding upon the heirs, executors, administrators and successors of the parties hereto.  7. Governing Law. This Agreement shall be construed and interpreted in accordance with the internal laws of the State of Delaware, without reference to the principles of conflicts of law thereof. Each party hereby irrevocably  consents and submits to the personal jurisdiction of and venue in the United States District Court - District of Delaware  and the Delaware State courts, in any legal action, equitable suit or other proceeding arising out of or related to this  Agreement.  8. Tax Withholding. The Company or any Subsidiary thereof shall have the power and right to deduct or withhold, or require the Grantee to remit to the Company or any Subsidiary all federal, state, local or foreign taxes  required by law to be withheld by the Company or a Subsidiary with respect to the Restricted Stock.  The Grantee may  satisfy all or part of such withholding requirement (provided that such amount, consistent with Accounting Standards  Codification 718 as amended from time to time, shall not be in excess of the maximum statutory federal, state and local  withholding requirements) by tendering previously-owned Shares or by having the Company withhold Shares of  

 

  3   Restricted Stock that would otherwise vest.    9. No Right to Continuous Service.  The establishment of the Plan and the grant of the Restricted Stock  hereunder shall not be construed as granting to the Grantee the right to Continuous Service, nor shall the Plan or this  Agreement be construed as limiting the right of the Company or any Subsidiary to terminate the Grantee’s Continuous  Service at any time for any reason whatsoever, with or without cause.    10. No Liability. No member of the Committee or the Board shall be personally liable by reason of any contract  or other instrument executed by such member or on his or her behalf in his or her capacity as a member of the Committee  or Board nor for any mistake of judgment made in good faith, and the Company shall indemnify and hold harmless each  member of the Committee, each member of the Board and each other employee, officer or director of the Company to  whom any duty or power relating to the administration or interpretation of the Plan or this Agreement may be allocated or  delegated, against any cost or expense (including counsel fees) or liability (including any sum paid in settlement of a  claim) arising out of any act or omission to act in connection with the Plan or this Agreement unless arising out of such  person’s own fraud or bad faith; provided, however, that approval of the Board shall be required for the payment of any  amount in settlement of a claim against any such person. The foregoing right of indemnification shall not be exclusive of  any other rights of indemnification to which such persons may be entitled under the Company’s certificate of  incorporation or by-laws, as a matter of law, or otherwise, or any power that the Company may have to indemnify them or  hold them harmless.    11. Headings. Headings are for the convenience of the parties and are not deemed to be a part of this Agreement.    12. Plan and Compensation Recoupment Policy. The terms of the Plan, a copy of which is provided with  this Agreement, and the Knoll, Inc. Compensation Recoupment Policy (the “Policy) which is made part of this Agreement and  incorporated herein by reference.  In the event of any conflict between the terms of the Plan and the terms of this Agreement or  the Policy, the terms of the Plan shall govern.    13. Nature of Award. In accepting the Restricted Stock, the Grantee acknowledges and agrees that:    (a) the Plan is established voluntarily by the Company, it is discretionary in nature, and it may be  modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this  Agreement;    (b) the grant is voluntary and occasional and does not create any contractual or other right to receive  future grants of Restricted Stock, or benefits in lieu of Restricted Stock, even if Restricted Stock has been awarded  repeatedly in the past;    (c) all decisions with respect to future awards, if any, will be at the sole discretion of the Company;    (d) the Grantee’s participation in the Plan is voluntary;    (e) the grant is not part of normal or expected compensation or salary for any purposes, including, but  not limited to, calculating any severance, resignation, termination, redundancy, end of service payments, bonuses, long-  service awards, pension or retirement or welfare benefits or similar payments and in no event should be considered as  compensation for, or relating in any way to, past services for the Company or any Subsidiary;    (f) in the event that the Grantee is not an employee of the Company or any Subsidiary, this grant and the  Grantee’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with  the Company or any Subsidiary;    (g) the future value of the Restricted Stock is unknown and cannot be predicted with certainty;    (h) in consideration of this grant, no claim or entitlement to compensation or damages shall arise from  termination of this Agreement or diminution in value of the Restricted Stock acquired upon vesting, resulting from  termination of the Grantee’s Continuous Service by the Company or any Subsidiary (for any reason whatsoever and  whether or not in breach of local labor laws) and in consideration of this grant, the Grantee irrevocably releases the  

 

  4   Company and any Subsidiary from any such claim that may arise; if, notwithstanding the foregoing, any such claim is  found by a court of competent jurisdiction to have arisen, then, by signing this Agreement, the Grantee shall be deemed  irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlement;    (i) in the event of termination of the Grantee’s Continuous Service (whether or not in breach of local  labor laws), the Grantee’s right to receive grants under the Plan and to vest in such grants, if any, will terminate effective  as of the date that the Grantee is no longer providing services and will not be extended by any notice period mandated  under local law (e.g., providing services would not include a period of “garden leave” or similar period pursuant to local  law); furthermore, in the event of termination of the Grantee’s Continuous Service (whether or not in breach of local  labor laws) the Committee shall have the exclusive discretion to determine when the Grantee is no longer providing  services for purposes of this grant;    (j) the Company is not providing any tax, legal or financial advice, nor is the Company making any  recommendations regarding the Grantee’s participation in the Plan or the Grantee’s acquisition or sale of the Restricted  Stock; and    (k) the Grantee is hereby advised to consult with the Grantee’s own personal tax, legal and financial  advisers regarding the Grantee’s participation in the Plan before taking any action related to the Plan.    14. Data Privacy.    (a) The Grantee hereby explicitly and unambiguously consents to the collection, use and transfer, in  electronic or other form, of the Grantee’s personal data as described in this Agreement by and among, as applicable,  the Grantee’s employer, the Company and any Subsidiary for the exclusive purpose of implementing, administering  and managing the Grantee’s participation in the Plan.  (b) The Grantee understands that the Company and the Grantee’s employer may hold certain personal  information about the Grantee, including, but not limited to, the Grantee’s name, home address and telephone number, date  of birth, social insurance or other identification number, salary, nationality, job title, any shares of Common Stock or  directorships held in the Company, details of all Stock Units or any other entitlement to shares of Common Stock awarded,  canceled, vested, unvested or outstanding in the Grantee’s favor, for the exclusive purpose of implementing, administering  and managing the Plan (“Data”).  (c) The Grantee understands that Data will be transferred to any third party assisting the Company with  the implementation, administration and management of the Plan. The Grantee understands that the recipients of the Data  may be located in the Grantee’s country, or elsewhere, and that the recipients’ country may have different data privacy  laws and protections than the Grantee’s country. The Grantee understands that the Grantee may request a list with the  names and addresses of any potential recipients of the Data by contacting the Grantee’s local human resources  representative. The Grantee authorizes the Company and any other possible recipients which may assist the Company  (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and  transfer the Data, in electronic or other form, for the sole purpose of implementing, administering and managing the  Grantee’s participation in the Plan. The Grantee understands that Data will be held only as long as is necessary to  implement, administer and manage the Grantee’s participation in the Plan. The Grantee understands that the Grantee may,  at any time, view Data, request additional information about the storage and processing of Data, require any necessary  amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing the  Grantee’s local human resources representative. The Grantee understands, however, that refusal or withdrawal of consent  may affect the Grantee’s ability to participate in the Plan. For more information on the consequences of the Grantee’s  refusal to consent or withdrawal of consent, the Grantee understands that the Grantee may contact the Grantee’s local  human resources representative.  15. Language. If the Grantee has received this Agreement or any other document related to the Plan translated  into a language other than English and if the translated version is different than the English version, the English version  will control, unless otherwise prescribed by applicable law.    16. Section 409A. To the extent applicable, the provisions of this Agreement shall be interpreted and construed  in a manner intended to be exempt from Section 409A of the Internal Revenue Code of 1986, as amended, the regulations  issued thereunder (“Section 409A”). The Company makes no representation that the Restricted Stock will be exempt from  

 

  5   Section 409A and makes no undertaking to prevent Section 409A from applying to the Restricted Stock or to mitigate its  effects on any deferrals or payments made in respect of this grant.    Effective as of the day and year first written above.    KNOLL, INC.               By:        Name:    Title:              GRANTEE:                    Name:

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