Document:

exhibit10_10x05282022

MILLERKNOLL, INC. 2020 LONG-TERM INCENTIVE PLAN  NON-FINANCIAL METRIC(S) PERFORMANCE SHARE UNIT WITH TSR  MULTIPLIER AWARD AGREEMENT  Participant: [INSERT NAME]  Award Date: [INSERT AWARD DATE]  Number of Performance Share Units: [INSERT TOTAL PSUs]  This certifies MillerKnoll, Inc. (the “Company”) has on the Date of the Performance Share  Unit Grant set forth above (the “Award Date”) granted to the Participant named above (the  “Participant”) a grant of Performance Share Units (the “Award”) as summarized above and as  detailed in the Executive Compensation Equity Award Notice (the “Award Notice”).  The Award is granted under the MillerKnoll, Inc. 2020 Long-Term Incentive Plan (the  “Plan”) and subject to the terms set forth in this Award Agreement.  A copy of the Plan Prospectus  has been delivered to Participant, and a copy of the Plan is available from the Company on request.  The Plan is incorporated into this Award Agreement by reference, and in the event of any conflict  between the terms of the Plan and this Award Agreement, the terms of the Plan will govern;  provided, however, that definitions under this Award Agreement shall govern.  Any capitalized  terms not defined herein will have the meaning set forth in the Plan.  1. Definitions. “Actual Performance Share Units” means the number of Performance Share Units earned  in accordance with Section 2 of this Award Agreement.  “Award Agreement” means the terms and conditions of the Award set forth in this  agreement.   “Common Stock” means the Company’s $.20 par value per share common stock.  “Earnout Percentage” means the percentage for the relevant Tranche Period by which the  number of the Target Performance Share Units subject to such Tranche Period is multiplied to  determine the Actual Performance Share Units, as determined under Section 2 of this Award  Agreement.  “Manual” shall mean the Incentive Technical Manual as approved by the Committee.  “Non-Financial Metric(s)” shall mean goals or objectives approved by the Committee that  are key priorities for the Company. This may include, but not limited to, any objective included to  the Company’s Corporate Scorecard, employee engagement results, any category or metric related  to customer service scores, attainment of strategic customer or product opportunities, human  capital management (including diversity, equity, and inclusion), environmental, social, governance  priorities or other non-financial priorities.   Exhibit 10.10 

 

  “Peer Group” means the companies approved by the Committee as peer group companies,  listed on the attached Appendix A of this Award Agreement. For the sake of clarity, the Company  is not included in the Peer Group.     “Performance Period” means the period of three (3) consecutive fiscal years beginning  with the fiscal year in which the Award Date occurs.    “Performance Share Unit” means the right to receive one (1) share of Common Stock on a  future date subject to certain restrictions and on the terms and conditions contained in this Award  Agreement.    “Retirement” means for purposes of this Award Agreement the Participant’s resignation  on or after attaining (A) age 55 and 5 or more years of service, or (B) 30 or more years of service.  For clarity, a Company-initiated termination of the employment of the Participant shall not be  considered a “Retirement”.    “Tranche Period” means a portion of the Performance Period, as follows (A) the first being  the first fiscal year of the Performance Period , (B) the second being the second fiscal year of the  Performance Period, and (C) the third being the third fiscal year of the Performance Period.     “Tranche Schedule” means that thirty-three percent (33%) of the Target Performance Share  Units are subject to the first Tranche Period, thirty-three percent (33%) of the Target Performance  Share Units are subject to the second Tranche Period, and the remaining Target Performance Share  Units are subject to the third Tranche Period.    “Total Shareholder Return” or “TSR” with respect to the Company and each member of  the Peer Group shall mean the quotient of (a) the Beginning Price (as defined below) divided by  (b) the Ending Price (as defined below).  The “Beginning Price” shall equal the average closing  price of a share of common stock during the twenty (20) trading day period ending on the last day  before the start of the Performance Period.  The “Ending Price” shall equal the average closing  price of a share of common stock during the twenty (20) day trading period ending on the last day  of the Performance Period.  The Beginning Price and Ending Price shall be adjusted to reflect any  and all cash, stock or in-kind dividends paid on the stock of such company during the Performance  Period, or any stock splits or reverse stock splits that occur during the Performance Period. For the  avoidance of doubt, dividends paid throughout the Performance Period for the Company and Peer  Group companies will be reinvested as of the ex-dividend date.    “TSR Multiplier” means the adjustment to the initial sum of Performance Share Units  earned for each Tranche Period, determined by the Company’s TSR relative to the Peer Group.    2. Determination of Actual Performance Share Units.  The Actual Performance Share  Units that the Participant may earn shall equal the sum of the Performance Share Units earned with  respect to each Tranche Period, as adjusted under subsection (d) below.  For each Tranche Period,  the Performance Share Units earned shall equal (a) the number of Target Performance Share Units  subject to such Tranche Period as specified in the Tranche Schedule, multiplied by (b) the Earnout  Percentage of such Tranche Period, as determined under this Section 2.    

 

  (a) Determination of Non-Financial Metric(s) Results.     (i) Tranche Period Determinations. Within ninety (90) days after the  end of each Tranche Period, the Committee will determine the Non-Financial  Metric(s) results for such Tranche Period consistent with the Manual.     (b) Calculation of Earnout Percentage. Within ninety (90) days after the end  of each Tranche Period, the Committee will determine the Earnout Percentage applicable  to the relevant portion of the Target Performance Share Units specified in the Tranche  Schedule based on the Non-Financial Metric(s) target specified by the Committee for  such Tranche Period, subject to adjustment in accordance with the Manual.     If the Non-Financial Metric(s) results are between the approved performance levels, then  the Earnout Percentage will be determined based on straight line interpolation.    (c) Determination of TSR.    (i) Determination of Company TSR.  Within ninety (90) days after the  end of the Performance Period, the Committee will determine the Company’s TSR  during the Performance Period, in accordance with the Manual.    (ii) Determination of Peer Group TSRs.  Within ninety (90) days after  the end of the Performance Period, the Committee will determine the TSR for each  member of the Peer Group during the Performance Period, in accordance with the  Manual.    (iii) Determination of Percentile Rank.  Following the determination of  Company’s TSR and the TSR of each member of the Peer Group, the Committee  shall determine the percentile rank of the Company within the Peer Group  companies. The Committee will include the Company in its determination of the  Company’s percentile ranking.     (d) Calculation of TSR Multiplier.  The initial sum of the Performance Share  Units earned with respect to all Tranche Periods determined in Section 2 shall be adjusted  based on the Company’s TSR relative to the TSR of the Peer Group in accordance with the  following, applying a multiplier approach:    Relative TSR Ranking: TSR Multiplier Percentage:  75th percentile or above 125%  50th percentile (target performance) 100% (no adjustment)  25th percentile or below 75%    If the Company’s relative TSR ranking is between performance levels, the TSR Multiplier  percentage shall be determined based on straight line interpolation.  Notwithstanding any  other provision of this Agreement, in no event shall the Actual Performance Share Units  (as modified under this Section 2(d)) exceed two hundred percent (200%) of the Target  Performance Share Units.   

 

  (e) Calculation of Actual Performance Share Units after a Change in Control.   If a Change in Control occurs, the Committee will determine the Participant’s Actual  Performance Share Units as of the date of such Change in Control in accordance with  Section 2(a)-(d), subject to the following:    (i) the Performance Period will end (the “Adjusted Performance  Period”) on the effective date of the Change in Control;    (ii) with respect to any Tranche Period that is fully completed by the  effective date of the Change in Control, the Participant’s Actual Performance Share  Units earned with respect to such Tranche Period shall be determined in accordance  with Section 2(a)-(d); and    (iii) with respect to any Tranche Period that is either partially completed  or not started as of the effective date of the Change in Control, the deemed Non- Financial Metric(s) results for such Tranche Period shall equal the targeted Non- Financial Metric(s) performance for a one hundred percent (100%) initial Earnout  Percentage for such Tranche Period (for clarity, subject to adjustment in accordance  with Section 2(c)-(d)).    (f) Certification.  Not later than ninety (90) days after the end of the  Performance Period or the Adjusted Performance Period, as applicable, the Committee  shall determine the Actual Performance Share Units and shall certify such finding to the  Company and the Participant.    3. Adjustments Following Termination of Employment.    (a) Termination Due to Death.  Notwithstanding anything in this Award  Agreement to the contrary, in the event that the Participant’s employment with the  Company or a Subsidiary terminates prior to the end of the Performance Period due to the  Participant’s death, the Participant’s Actual Performance Share Units shall equal the  Participant’s Target Performance Share Units multiplied by a fraction, the numerator of  which is the number of days that Participant was employed by the Company or a Subsidiary  from the Award Date until the date of the Participant's death, and the denominator of which  is the number of days from the Award Date until the original vest date as set forth in the  Award Notice, and such Actual Performance Share Units shall vest immediately upon the  Participant’s death.    (b) Termination Due to Disability or Termination Without Cause.  In the event  that the Participant’s employment with the Company or a Subsidiary terminates prior to  the end of the Performance Period due to Disability or termination by the Company or a  Subsidiary without Cause, the Participant’s Target Performance Share Units will be  adjusted by multiplying the Participant’s Target Performance Share Units by a fraction, the  numerator of which is the number of days that Participant was employed by the Company  or a Subsidiary from the Award Date until the date of the termination of Participant's  employment, and the denominator of which is the number of days from the Award Date  

 

  until the original vest date as set forth in the Award Notice.  Actual Performance Share  Units shall continue to be calculated according to Section 2.    (c) Termination Due to Retirement.  In the event that the Participant’s  employment with the Company or a Subsidiary terminates prior to the end of the  Performance Period due to Retirement, the Participant’s Target Performance Share Units  will be adjusted as follows:    (i) If the Participant’s Retirement occurs prior to the end of the first  twelve (12) months after the Award Date, the Participant’s Target Performance  Share Units will be adjusted by multiplying the Participant’s Target Performance  Share Units by a fraction, the numerator of which is the number of full calendar  months that the Participant was employed by the Company or a Subsidiary,  beginning on the Award Date and ending on the date of the Participant’s  Retirement, and the denominator of which is 12;     (ii) No adjustment to the Participant’s Target Performance Share Units  will be made if the Participant’s Retirement occurs on or after the end of the first  twelve (12) months after the Award Date.    Actual Performance Share Units shall continue to be calculated according to Section 2.    (d) Termination of Employment for Other Reasons.  In the event that the  Participant’s employment with the Company or a Subsidiary terminates prior to the end of  the Performance Period for any reason other than death, Disability, Retirement, or  Termination by the Company or a Subsidiary without Cause, the Participant’s rights to all  of the Target Performance Share Units granted under this Award Agreement will be  immediately and irrevocably forfeited upon such termination of employment and the  Participant shall earn no Actual Performance Share Units.     (e) Termination After a Change in Control.  Notwithstanding any term to the  contrary in this Award Agreement or the Plan, the Participant shall retain the right to earn  all of the Participant’s Target Performance Share Units if, within two (2) years following  a Change in Control, the Participant’s employment (i) is terminated without Cause  (including death or Disability), (ii) terminates with Good Reason, or (iii) terminates under  circumstances that entitle the Participant to accelerated vesting under any individual  employment agreement between the Participant and the Company, a Subsidiary, or any  successor thereof, and Actual Performance Share Units shall be calculated in accordance  with Section 2(e).  For all other terminations of employment that occur after a Change in  Control, the Participant’s Target Performance Share Units shall be adjusted in accordance  with subsections (a)-(c) of this Section 3, and Actual Performance Share Units shall be  calculated in accordance with Section 2(e).    4. Issuance of Common Stock; Shareholder Rights.    (a) Conversion of Performance Shares to Common Stock.  Within ninety (90)  days after the end of the Performance Period (or, in the case of the Participant’s Retirement  

 

  prior to the end of the Performance Period, within ninety (90) days after the later of the end  of the Performance Period or the expiration of the duration of the restrictive covenant set  forth in Section 9(b)(ii), as applicable), the Company shall cause to be issued to the  Participant or the Participant’s legal representatives, beneficiaries or heirs, as the case may  be, a stock certificate or book entry representing the number of shares of Common Stock  in payment of such whole Actual Performance Share Units, unless a valid deferral has been  made pursuant to Section 7, in which case such distribution will be made within sixty  (60) days after the date to which distribution has been deferred, in either case, provided  that the Participant has satisfied any tax withholding obligations related to such Actual  Performance Share Units.      (b) No Shareholder Rights.  No shares of Common Stock will be issued to  Participant prior to the date on which the Target Performance Share Units become Actual  Performance Share Units under the provisions of Section 2 of this Award Agreement.  The  Target Performance Share Units granted pursuant to this Award Agreement represent a  contingent right to receive Common Stock in the future, are not issued shares of Common  Stock and do not and will not entitle Participant to any rights of a shareholder of Common  Stock, including the right to vote or receive dividends.  Except as otherwise provided in  Section 2, the rights of the Participant with respect to the Target Performance Share Units  will remain forfeitable at all times prior to the end of the Performance Period as provided  in this Award Agreement.  Prior to conversion of some or all of the Target Performance  Share Units into Common Stock, such Target Performance Share Units will represent only  an unsecured obligation of the Company.  Neither this Section 4(b) nor any action taken  pursuant to or in accordance with this Section 4(b) will be construed to create a trust of any  kind.    5. Restriction on Transfer.  Any rights under this Award Agreement may not be sold,  assigned, transferred, pledged, hypothecated, or otherwise disposed of by Participant otherwise  than by will or by the laws of descent and distribution, and any such purported sale, assignment,  transfer, pledge, hypothecation or other disposition will be void and unenforceable against the  Company.    6. Adjustments to Target Performance Share Units for Certain Corporate  Transactions.  Adjustments to Target Performance Share Units will be determined in accordance  with this Section 6.    (a) The Committee will make an appropriate and proportionate adjustment to  the number of Target Performance Share Units granted under this Award Agreement if:    (i) The outstanding shares of Common Stock are increased or  decreased, as a result of merger, consolidation, sale of all or substantially all of the  assets of the Company, reclassification, stock dividend, stock split, reverse stock  split with respect to such shares of Common Stock or other securities, or    (ii) Additional shares or new or different shares or other securities are  distributed with respect to such shares of Common Stock or other securities or  exchanged for a different number or kind of shares or other securities through  

 

  merger, consolidation, sale of all or substantially all of the assets of the Company,  reorganization, recapitalization, reclassification, stock dividend, stock split, reverse  stock split or other distribution with respect to such shares of Common Stock or  other securities.    (b) The Committee may make an appropriate and proportionate adjustment in  the number of Target Performance Share Units granted under this Award Agreement if the  outstanding shares of Common Stock are increased or decreased as a result of a  recapitalization or reorganization not included within Section 6(a) above.    7. Deferral of Distribution.  Participant may elect to defer the conversion of Actual  Performance Share Units granted under this Award Agreement into Common Stock and the  issuance of such Common Stock with respect thereto to a time later than that provided under  Section 4(a).  The Participant must file such election with the Committee at least 12 months prior  to the end of the Performance Period.  The Participant must specify in the election the date on  which the Actual Performance Share Units earned under this Award Agreement will be converted  to Common Stock and issued to Participant.  The date elected must be at least five (5) years later  than the date on which the Actual Performance Share Units would have been converted to  Common Stock and issued to the Participant under Section 4(a).      8. Tax Withholding.    (a) (a) In order to comply with all applicable federal, state, and local tax  withholding laws or regulations, the Company may take such action as it deems appropriate  to ensure that all applicable federal, state, and local payroll, withholding, income or other  taxes, which are the sole and absolute responsibility of Participant are withheld or collected  from Participant.    (b) The Company shall have the authority to cause the required tax withholding  obligation to be satisfied, in whole or in part, by:    (i) The Participant tendering a payment to the Company in the form of  cash, check (bank check, certified check or personal check) or money order payable  to the Company;    (ii) Withholding from shares of Common Stock to be issued to  Participant a number of shares of Common Stock with an aggregate Fair Market  Value that would satisfy the withholding amount due; or     (iii) Delivering to the Company unencumbered shares of Common Stock  already owned by Participant, or causing the broker to sell from the number of shares  of Common Stock to be issued to the Participant, the number of shares of Common  Stock with an aggregate Fair Market Value necessary to satisfy the withholding  amount due. Any shares of Common Stock already owned by Participant referred  to in this Section 8(b)(iii) must have been owned by Participant for no less than six  (6) months prior to the date delivered to the Company.    

 

  9. Participant Covenants.  In consideration of the grant of this Award by the Company,  Participant agrees to the following:    (a) Confidentiality.  In the course of Participant’s employment with the  Company, Participant may be making use of, acquiring, or adding to the Company’s  confidential information, trade secrets, and Protected Information; accordingly, Participant  agrees and promises:    (i) to protect and maintain the confidentiality of Protected Information  while employed by the Company;    (ii) to return (and not retain) any and all materials reflecting Protected  Information that Participant may possess (including all Company-owned  equipment) immediately upon end of employment or upon demand by the  Company; and    (iii) not to use or disclose, except as necessary for the performance of  Participant’s services on behalf of the Company or as required by law or legal  process, any Protected Information where such use or disclosure would be  detrimental to the interests of the Company. This promise applies only for so long  as such Protected Information remains confidential and not generally known to the  Company’s competitors, or 18 months following the end of Participant’s  employment with the Company, whichever occurs first.    (b) Restrictive Covenants.  Participant understands and agrees that the  Company has legitimate interests in protecting its goodwill, its relationships with  customers and business partners, and in maintaining its confidential information, trade  secrets and Protected Information, and hereby agrees that the following restrictions are  appropriate to meet such goals.     (i) Non-Solicitation.  Participant acknowledges that the relationships  and goodwill that Participant develops with Company Customers as a result of  Participant’s employment belong to the Company.  Participant therefore agrees that  while employed by the Company and for a period of 12 months after Participant’s  employment with the Company ends, for whatever reason, Participant will not, and  will not assist anyone else to, (1) solicit or encourage any Company Customer to  terminate or diminish its relationship with the Company relating to Competitive  Services or Products; or (2) seek to persuade any Company Customer to conduct  with anyone other than the Company any business or activity relating to  Competitive Services or Products that such Company Customer conducts or could  conduct with the Company.    (ii) Non-Competition.  Participant agrees that while employed by the  Company and for a period of 12 months after Participant’s employment with the  Company ends for any reason, Participant will not, for himself or herself, or on  behalf of any other person or entity, directly or indirectly, provide services to a  Direct Competitor in a role where Participant’s knowledge of Protected Information  

 

  is likely to affect Participant’s decisions or actions for the Direct Competitor to the  detriment of the Company.    (c) Definitions.  For purposes of this Section 9, the following terms shall be  defined as follows:     (i) Protected Information.  “Protected Information” means Company  information not generally known to, and not readily ascertainable through proper  means by, the Company’s competitors on matters such as customer information,  partner information, and the relative skills and experience of the Company’s other  Participants or agents; nonpublic information; strategic plans; business methods;  investment strategies and plans; intellectual property; sales and marketing plans;  Company (not individual) know-how; trade secrets; and other information of a  technical or economic nature relating to the Company’s business.    Protected Information does not include information that (i) was in the public  domain, (ii) was independently developed or acquired by Participant, (iii) was  approved by the Company for use and disclosure by Participant without restriction,  or (iv) is the type of information which might form the basis for protected concerted  activity under the National Labor Relations Act (for example, Participant pay or  Participant terms and conditions of employment).    (ii) Company Customer.  “Company Customer” is limited to those  customers or partners who did business with the Company within the most recent  18 months of Participant’s employment (or during the period of Participant’s  employment, if Participant was employed for less than 18 months) and with whom  Participant personally dealt on behalf of the Company in the 12 months  immediately preceding the last day of Participant’s employment and Participant had  business contact or responsibility with such Company Customer as a result of his  or her employment with the Company.  “Company Customer” shall not, however,  include any individual who purchased a Competitive Product from the Company  by direct purchase from one of its retail establishments or via on-line over the  Internet, unless such purchase was of such quantity that the purchase price exceeded  $15,000.     (iii) Competitive Services.  “Competitive Services” means services of  the type that the Company provided or offered to its customers or partners at any  time during the 12 months immediately preceding the last day of Participant’s  employment with the Company (or at any time during Participant’s employment if  Participant was employed for less than 12 months), and for which Participant was  involved in providing or managing the provision of such services.    (iv) Competitive Products.  “Competitive Products” means products that  serve the same function as, or that could be used to replace, products the Company  provided to, offered to, or was in the process of developing for a present, former,  or future possible customer/partner at any time during the twelve (12) months  immediately preceding the last day of Participant’s employment (or at any time  

 

  during Participant’s employment if Participant was employed for less than 12  months), with which Participant had direct responsibility for the sale or  development of such products or managing those persons responsible for the sale  or development of such products.    (v) Direct Competitor.  “Direct Competitor” means a person, business  or company providing Competitive Products or Competitive Services.  “Direct  Competitor” does not include any business which the parties have agreed in writing  to exclude from the definition, and the Company will not unreasonably or arbitrarily  withhold such agreement.    (d) Non-disparagement.  Participant agrees that, while employed with the  Company and thereafter, Participant will not, directly or indirectly, individually or in  concert with others, engage in any conduct or make any statement calculated or likely to  have the effect of undermining, disparaging or otherwise reflecting poorly upon the  Company, any member of its Board of Directors or any executive officer of the Company  (the “Protected Persons”) or the Company’s business.  Without limitation, Participant shall  not publish, communicate, post or blog disparaging or confidential information about the  Protected Persons.  However, the Participant may give truthful and non-malicious  testimony if properly subpoenaed to testify under oath.      (e) Exception.  Nothing in this Award Agreement is intended to prevent the  Participant from making disclosures of Protected Information if required by applicable law,  regulation, or legal process, provided that the Participant provide the Company with prior  notice of the contemplated disclosure and reasonably cooperate with the Company, at its  expense, in seeking a protective order or other appropriate protection of such information.   In addition, nothing in this Award Agreement is intended interfere with the whistleblower  provisions of any United States federal, state or local law or regulation, including but not  limited to Rule 21F-17 of the Securities Exchange Act of 1934 or § 1833(b) of the Defend  Trade Secrets Act of 2016. Accordingly, notwithstanding anything to the contrary therein,  nothing in this Award Agreement prohibits, restricts or prevents the Participant from  reporting possible violations of United States federal, state or local law or regulation to any  United States federal, state or local governmental agency or entity, including but not  limited to the Department of Justice, the Securities and Exchange Commission, the  Congress, and any agency Inspector General, or to an attorney, or from making other  disclosures that are protected under the whistleblower provisions of federal law or  regulation, or from disclosing trade secrets and other Protected Information in the course  of such reporting; provided, however, that the Participant use the Participant’s reasonable  best efforts to (i) disclose only information that is reasonably related to such possible  violations or that is requested by such agency or entity, and (ii) request that such agency or  entity treat such information as confidential. The Participant does not need the prior  authorization from the Company to make any such whistleblower reports or disclosures  and is not required to notify the Company that the Participant has made such reports or  disclosures.        

 

  10. Miscellaneous.    (a) Neither this Award Agreement nor the Plan confers on Participant any right  with respect to the continuance of employment by the Company or any Subsidiary, nor will  there be a limitation in any way on the right of the Company or any Subsidiary by which  Participant is employed to terminate his or her employment at any time.    (b) In the event of a restatement of the Company’s consolidated financial  statements for any interim or annual period (“Restatement”), the Committee may determine  that the Award exceeds the amount that would have been awarded or received had the  Restatement been known at the time of the Award Date or at the time of earning any Actual  Performance Share Units. In the event that the Committee makes such a determination, the  Company shall have the right: (i) in the instance of a Participant whose misconduct or  violation of a Company policy causes such Restatement, or; (ii) in the instance where a  Participant is an officer subject to Section 16 of the Securities and Exchange Act of 1934,  and without regard to whether Participant caused the Restatement, to (A) forfeit this  Award, and/or (B) to require repayment or return of any benefit derived from this Award.   Both the cause and the amount of adjustment and/or repayment shall be determined by the  Committee in its sole discretion, and its decision shall be final and binding upon the  Participant.     (c) An original record of this Award Agreement and of the Participant’s  acceptance and acknowledgement will be held on file by the Company. This Award  Agreement and the Participant’s acknowledgement may be made either in paper or  electronic format as specified by the Company. To the extent there is any conflict between  the terms contained in this Award Agreement and the terms contained in the original held  by the Company, the terms of the original held by the Company will control.    (d) Notwithstanding anything to the contrary herein, upon a Change in Control  in which the surviving entity does not assume this Award (or replace this Award with an  award having substantially similar terms), this Award shall be treated in accordance with  Section 14.3(b) of the Plan.     11. Section 409A Compliance.  To the extent applicable, it is intended that this Award  Agreement to be exempt from or comply with the provisions of Section 409A of the Internal  Revenue Code (“Section 409A”).  This Award Agreement will be administered and interpreted in  a manner consistent with this intent, and any provision that would cause the Award Agreement to  fail to satisfy Section 409A will have no force and effect until amended to comply therewith (which  amendment may be retroactive to the extent permitted by Section 409A).  If any payments under  this Award Agreement constitute nonqualified deferred compensation subject to the requirements  of Section 409A and are payable upon a termination of the Participant’s employment, then (a) all  such payments shall be made only upon a “separation from service” within the meaning of  Section 409A, (b) for purposes of determining the timing of such payments, Participant’s  termination shall not be considered to occur until he or she has incurred such a separation from  service, and (c) to the extent required for compliance with Section 409A if Participant is a  “specified employee” within the meaning of Section 409A, payments will be delayed by six  months.    

 

  12. Section 280G.  Notwithstanding anything contained in this Award Agreement to  the contrary, to the extent that any of the payments and benefits provided for under this Award  Agreement, together with any payments or benefits under any other agreement or arrangement  between the Company or any of its affiliates and the Participant (collectively, the “Payments”)  would constitute a “parachute payment” within the meaning of Section 280G of the Code, the  amount of such Payments shall be reduced (to the extent any reduction is necessary) to the amount  that would result in no portion of the Payments being subject to the excise tax imposed pursuant  to Section 4999 of the Code if and only if such reduction would provide the Participant with an  after-tax amount greater than if there was no reduction. Any reduction shall be done in a manner  that maximizes the amount to be retained by the Participant, provided that to the extent any order  is required to be set forth herein, then such reduction shall be applied in the following order: (a)  payments that are payable in cash that are valued at full value under Treasury Regulation Section  1.280G-1, Q&A 24(a) will be reduced (if necessary, to zero), with amounts that are payable last  reduced first; (b) payments due in respect of any equity valued at full value under Treasury  Regulation Section 1.280G-1, Q&A 24(a) will be reduced next (if necessary, to zero), with  amounts that are payable or deliverable last reduced first; (c) payments that are payable in cash  that are valued at less than full value under Treasury Regulation Section 1.280G- 1, Q&A 24 will  be reduced next (if necessary, to zero), with the highest values reduced first (as such values are  determined under Treasury Regulation Section 1.280G-1, Q&A 24); (d) payments due in respect  of any equity valued at less than full value under Treasury Regulation Section 1.280G-1, Q&A 24  will be reduced next (if necessary, to zero), with the highest values reduced first (as such values  are determined under Treasury Regulation Section 1.280G-1, Q&A 24); and (v) all other non-cash  benefits will be next reduced pro-rata.    IN WITNESS WHEREOF, the parties have executed this Award Agreement effective as  of the Award Date.    MillerKnoll, Inc.     By:_____________________________________   Jeffrey M. Stutz   Chief Financial Officer      ACCEPTANCE AND ACKNOWLEDGEMENT    Via electronic ACCEPT, I accept the Award Agreement described herein and in the Plan,  acknowledge receipt of a copy of this Award Agreement and the Plan Prospectus, and  acknowledge that I have read them carefully and that I fully understand their contents.     

 

  APPENDIX A    Peer Group      1.  Peer Group.  The Peer Group shall consist of the following companies:     American Woodmark Corporation Masonite International Corporation  Bed Bath & Beyond Inc.  RH  Floor & Décor Holdings, Inc. Sleep Number Corporation  Fortune Brands Home & Security, Inc. Steelcase Inc.  HNI Corporation Tempur Sealy International, Inc.  JELD-WEN Holdings, Inc. UFP Industries, Inc.  La-Z-Boy Incorporated Wayfair Inc.  Leggett & Platt, Incorporate Williams-Sonoma, Inc.     2. Adjustments to the Peer Group.  The Committee may decide to adjust, in its sole  discretion, the Peer Group at any time during the Performance Period to reflect the  occurrence of certain extraordinary events.  The Committee will generally make the  determination to adjust (or not adjust) the Peer Group in accordance with the following  guidelines but reserves the right to make adjustments in addition to, or that conflict with,  such guidelines if it determines such adjustments are equitable.    a.  If a Peer Group company becomes bankrupt, the bankrupt company will remain in  the Peer Group and will positioned at one level below the lowest performing non- bankrupt Peer Group company.  In the case of multiple bankruptcies, the bankrupt  companies will be positioned below the non-bankrupt companies in reverse  chronological order by bankruptcy date.     b. If a Peer Group company is acquired by another company, the acquired company  will be removed from the Peer Group for the entire Performance Period.     c. If a Peer Group company sells, spins-off, or disposes of a portion of its business,  the selling Peer Group company will remain in the Peer Group for the entire  Performance Period unless such disposition(s) results in the disposition of more  than 50% of the company’s total assets during the Performance Period, in which  case the Peer Group company shall be removed from the Peer Group.    d. If a Peer Group company acquires another company, the acquiring Peer Group  company will remain in the Peer Group.     e. If the price of a Peer Company’s common stock (or its equivalent) is not available  on a consistent, reliable basis due to delisting on all major stock exchanges and  over-the-counter markets, such delisted Peer Group company will be removed from  the Peer Group for the entire Performance Period; provided, however, that if the  company becomes bankrupt prior to the end of the Performance Period, it shall be  treated as in (a) above.  

 

  f. If the Company’s and/or any Peer Group company’s stock splits, then the  Committee shall adjust such company’s performance in a manner that it deems  equitable so as not to give an advantage or disadvantage to such Peer Group  company by comparison to the other Peer Group companies.exhibit10_11x05282022

HERMAN MILLER, INC. 2020 LONG-TERM INCENTIVE PLAN  PERFORMANCE RESTRICTED STOCK UNIT AWARD AGREEMENT  This certifies that Herman Miller, Inc. (the "Company") has on  %%OPTION_DATE,'Month DD, YYYY'%-% (the "Award Date"), granted to  %%FIRST_NAME%-% %%LAST_NAME%-% (the "Participant") an award (the "Award") as  set forth under the Executive Compensation Equity Award Notice dated  %%OPTION_DATE,'Month DD, YYYY'%-% (the "Award Notice"). The Award is granted under  the Herman Miller, Inc. 2020 Long-Term Incentive Plan (the "Plan") and subject to the terms set  forth in this agreement (the "Award Agreement"). A copy of the Plan Prospectus has been  delivered to Participant, and a copy of the Plan is available from the Company on request. The  Plan is incorporated into this Award Agreement by reference, and in the event of any conflict  between the terms of the Plan and this Award Agreement, the terms of the Plan shall govern;  provided, however, that definitions under this Award Agreement shall govern. Any capitalized  terms not defined herein shall have the meaning set forth in the Plan.  1. Rights of the Participant with Respect to the Restricted Stock Units. (a) No Shareholder Rights. The Restricted Stock Units granted pursuant to this Award are not shares of Common Stock, but instead are the contingent right to receive  shares of Common Stock and do not and shall not entitle Participant to any rights of a  shareholder of Common Stock. The rights of Participant with respect to the Restricted  Stock Units shall remain forfeitable at all times prior to the date on which such rights  become vested in accordance with Section 2, 3 or 4.  (b) TSR Modifier. (i) Determination of TSR. Within ninety (90) days after the end of the Performance Period, the Committee will determine the Company's Total  Shareholder Return during the Performance Period, and the Total Shareholder  Return for each member of the Peer Group during the Performance Period, in  accordance with the Incentive Technical Manual as approved by the Committee.   (1) "Peer Group" means the companies approved by the Committee as peer group companies, listed on the attached Appendix A of  this Award Agreement (for the sake of clarity, the Company is not included  in the Peer Group).   (2) "Performance Period" means the period of three (3) consecutive fiscal years beginning with the fiscal year in which the Award Date occurs. (3) "Total Shareholder Return" or "TSR" with respect to the Company and each member of the Peer Group shall mean the quotient of  (a) the Beginning Price (as defined below) divided by (b) the Ending Price (as defined below). The "Beginning Price" shall equal the average closing price of a share of common stock during the twenty (20) trading day period ending on the last day before the start of the Performance Period. The Exhibit 10.11 

 

    "Ending Price" shall equal the average closing price of a share of common  stock during the twenty (20) day trading period ending on the last day of the  Performance Period. The Beginning Price and Ending Price shall be  adjusted to reflect any and all cash, stock or in-kind dividends paid on the  stock of such company during the Performance Period, or any stock splits  or reverse stock splits that occur during the Performance Period. For the  avoidance of doubt, dividends paid throughout the Performance Period for  the Company and Peer Group companies will be reinvested as of the ex- dividend date.   (ii) Calculation of TSR Modifier. Following the determination of  Company's TSR and the TSR of each member of the Peer Group, the Committee  shall determine the percentile rank of the Company within the Peer Group  companies. The Committee will include the Company in its determination of the  Company's percentile ranking. The TSR Modifier shall be a percentage based on  the Company's TSR relative to the TSR of the Peer Group in accordance with the  following, applying a multiplier approach:  Company TSR Percentile Ranking: TSR Modifier:  75th percentile or above 125%  50th percentile (target performance) 100% (no modification)  25th percentile or below 75%    If the Company's relative TSR ranking is between the above performance levels,  the TSR Modifier shall be determined based on straight line interpolation.  (c) Conversion of Restricted Stock Units; Issuance of Common Stock. No  shares of Common Stock shall be issued to Participant prior to the date on which the  Restricted Stock Units vest, and the restrictions with respect to the Restricted Stock Units  lapse, in accordance with Section 2, 3 or 4. Neither this Section 1(c) nor any action taken  pursuant to or in accordance with this Section 1(c) shall be construed to create a trust of  any kind. After any Restricted Stock Units vest pursuant to Section 2, 3 or 4, all restrictions  with respect to the distribution of the Restricted Stock Units have lapsed, the Performance  Period has ended, and any tax withholding obligations related to such Restricted Stock  Units have been satisfied pursuant to Section 8, the Company shall, within sixty (60) days,  cause to be issued to the Participant or the Participant's legal representatives, beneficiaries  or heirs, as the case may be, a stock certificate or book entry representing the number of  shares of Common Stock in payment of such vested whole Restricted Stock Units,  multiplied by the TSR Modifier percentage, unless a valid deferral has been made pursuant  to Section 7, in which case such distribution shall be made within sixty (60) days after the  date to which distribution has been deferred.   2. Vesting. Subject to the terms and conditions of this Award, the Restricted Stock  Units shall vest as set forth in the Award Notice.  

 

    3. Forfeiture or Early Vesting Upon Termination of Employment.  (a) Termination of Employment Generally. Except as provided in Sections  3(b), 3(c), 3(d), and 3(e), if, prior to full vesting of the Restricted Stock Units pursuant to  Section 2 or 4, Participant ceases to be an employee of the Company or a Subsidiary, then  Participant's rights to all of the unvested Restricted Stock Units shall be immediately and  irrevocably forfeited.  (b) Death or Disability. If the Participant's employment with the Company or a  Subsidiary terminates due to the Participant's death or Disability, then a portion of his or  her unvested Restricted Stock Units shall become immediately vested as of the date of  termination. The portion of Restricted Stock Units that shall vest upon the termination of  the Participant's employment due to death or Disability is determined by multiplying the  sum of Participant's Restricted Stock Units granted under this Award by a fraction, the  numerator of which is the number of days that Participant was employed by the Company  or a Subsidiary from the Award Date until the date of the termination of Participant's  employment, and the denominator of which is the number of days from the Award Date  until the original vest date as set forth in the Award Notice. Issuance of Common Stock in  payment of the vested Restricted Stock Units shall continue to be governed by Section 1(c)  of this Agreement and shall not occur until after the Performance Period has ended to  provide for calculation of the TSR Modifier.  (c) Retirement.  (i) Except as provided in 3(d)(ii) below, if Participant's employment by  the Company or Subsidiary is terminated by reason of Participant's Retirement (as  defined below) during the first 12 months after the Award Date and prior to the  time that his or her Restricted Stock Units have otherwise become fully vested, then  a portion of his or her unvested Restricted Stock Units shall become immediately  vested as of the date the Participant Retires. The portion of the Restricted Stock  Units that shall vest upon the date of the Participant's Retirement will be determined  by multiplying the sum of Participant's Restricted Stock Units granted under this  Award by a fraction, the numerator of which is the number of full calendar months,  beginning on the Award Date and ending on the date the Participant Retires during  which the Participant was employed by the Company, and the denominator of  which is 12. If Participant terminates his or her employment by reason of  Retirement after the initial 12 month period, all of his or her Restricted Stock Units  will be fully vested. "Retires" or "Retirement" means for purposes of this Award  Agreement the Participant's resignation on or after attaining (A) age 55 and 5 or  more years of service, or (B) 30 or more years of service. For clarity, a Company- initiated termination of the employment of the Participant shall not be considered a  "Retirement". Subject to Participant's compliance with the covenants set forth in  Section 9 below and to applicable policies of the Company, the Restricted Stock  Units shall, to the extent the right to receive shares has vested in accordance with  the preceding sentences, be sellable any time. Issuance of Common Stock in  payment of the vested Restricted Stock Units shall continue to be governed by  

 

    Section 1(c) of this Agreement and shall not occur until after the Performance  Period has ended to provide for calculation of the TSR Modifier.  (ii)  Notwithstanding (i), if the Participant is a "Key Employee" (as  defined below), such pro rata portion of Participant's Restricted Stock Units shall  become vested as provided above, but the conversion to Common Stock and the  distribution of Common Stock to the Participant shall not occur until the earlier of:  (A) The date which is six (6) months after the date of the  Participant's Retirement, or  (B) The date of Participant's death.  (iii)  For purposes of Section 3, a "Key Employee" is a Participant who,  at any time during the year in which his or her employment with the Company  terminated, was:  (A) An officer of the Company whose compensation from the  Company for the year was more than $180,000, as adjusted pursuant to  Code Section 416(i)(1)(A);  (B) A more than 5% owner of the Company; or  (C) A more than 1% owner of the Company with annual  compensation from the Company of more than $150,000. For purposes of  this Section 3, the term "owner" will include ownership attributed to the  Participant under the rules of Code Section 318; provided, however, that the  rules of Code Section 414(b), (c), and (m) do not apply for purposes of  determining ownership of the Company.  (d) Termination of Employment without Cause.   (i) Except as provided in Section 3(e)(ii) below, if the Company or a  Subsidiary terminates the Participant's employment without "Cause" prior to the  time that Participant's Restricted Stock Units become vested, then a portion of his  or her unvested Restricted Stock Units shall become immediately vested as of the  date the Company or a Subsidiary terminates the Participant's employment without  Cause. The portion of Restricted Stock Units that shall vest upon the Company's or  a Subsidiary's termination of the Participant's employment without Cause is  determined by multiplying the sum of Participant's Restricted Stock Units granted  under this Award by a fraction, the numerator of which is the number of days that  Participant was employed by the Company or a Subsidiary from the Award Date  until the date of Company's or Subsidiary's termination of Participant's employment  without Cause, , and the denominator of which is the number of days from the  Award Date until the original vest date as set forth in the Award Notice. Issuance  of Common Stock in payment of the vested Restricted Stock Units shall continue  to be governed by Section 1(c) of this Agreement and shall not occur until after the  Performance Period has ended to provide for calculation of the TSR Modifier.  

 

    (ii) Notwithstanding the foregoing, if the Participant is a "Key  Employee," such pro rata portion of Participant's Restricted Stock Units shall  become vested as provided above, but the conversion to Common Stock and the  distribution of Common Stock to the Participant shall not occur until the earlier of:  (A) The date which is six (6) months after the date the Company  terminates the Participant's employment without Cause, or  (B) The date of Participant's death.  (iii) Subject to Participant's compliance with the covenants set forth in  Section 9 below and to applicable policies of the Company, the Restricted Stock  Units shall, to the extent the right to receive shares has vested in accordance with  this Section 3(e), be sellable any time.   4. Change in Control. Notwithstanding any term to the contrary in this Agreement or  the Plan, if within two (2) years after a Change in Control the Participant's employment (a) is  terminated without Cause, (b) terminates with Good Reason or (c) terminates under circumstances  that entitle the Participant to accelerated vesting under any individual employment agreement  between the Participant and the Company, a Subsidiary, or any successor thereof, then this Award  (or its replacement) shall become fully vested upon the date of such termination of employment.  Notwithstanding the foregoing, if upon the occurrence of a Change in Control this Award is not  assumed or continued, then this Award shall be treated in accordance with Section 14.3(a) of the  Plan. If a Change in Control occurs during the Performance Period, then the Performance Period  will end (the "Adjusted Performance Period") on the effective date of the Change in Control, and  the TSR Modifier in Section 1(b) above will be calculated using the Adjusted Performance Period  instead of the Performance Period.  5. Restriction on Transfer. Any rights under this Award may not be sold, assigned,  transferred, pledged, hypothecated, or otherwise disposed of by Participant otherwise than by will  or by the laws of descent and distribution, and any such purported sale, assignment, transfer,  pledge, hypothecation or other disposition will be void and unenforceable against the Company.  6. Adjustments to Restricted Stock Units for Certain Corporate Transactions.   (a) The Committee will make an appropriate and proportionate adjustment to  the number of Restricted Stock Units granted under this Award, if (i) the outstanding shares  of Common Stock are increased or decreased, as a result of merger, consolidation, sale of  all or substantially all of the assets of Company, reclassification, stock dividend, stock split,  reverse stock split, with respect to such shares of Common Stock or other securities, or  (ii) additional shares or new or different shares for other securities are distributed with  respect to such shares of Common Stock or other securities or exchanged for a different  number or kind of shares or other securities to merger, consolidation, sale of all or  substantially all of the assets of the Company, reorganization, recapitalization,  reclassification, stock dividend, stock split, reverse stock split or other distribution with  respect to such shares of Common Stock or other securities.   

 

    (b) The Committee may make an appropriate and proportionate adjustment in  the number of Restricted Stock Units granted under this Award if the outstanding shares  of Common Stock are increased or decreased as a result of a recapitalization or  reorganization not included within Section 6(a) above.   7. Deferral of Distribution. A Participant may elect to defer the conversion of  Restricted Stock Units granted under this Award into Common Stock and the issuance of such  Common Stock with respect thereto to a time later than that provided under Section 1(c). The  Participant must file such election with the Committee at least 12 months prior to the date provided  under Section 1(c) that such Restricted Stock Units are scheduled to be converted into Common  Stock and issued to the Participant. The Participant must specify in the election the date on which  the Restricted Stock Units granted under this Award and the related Additional Restricted Stock  Units will be converted to Common Stock and issued to Participant. The date elected must be at  least five (5) years later than the date on which the Restricted Stock Units would have been  converted to Common Stock and issued to the Participant under Section 1(c).   8. Tax Withholding.  (a) In order to comply with all applicable federal, state, and local tax  withholding laws or regulations, the Company may take such action as it deems appropriate  to ensure that all applicable federal, state, and local payroll, withholding, income or other  taxes, which are the sole and absolute responsibility of Participant, are withheld or  collected from Participant.  (b) In accordance with the terms of the Plan, and such rules as may be adopted  by the Committee under the Plan, Participant may elect to satisfy Participant's federal, state,  and local tax obligations arising from the receipt of, the lapse of restrictions relating to, or  any other event relating to, the Restricted Stock Units, by any of the following means or  by a combination of such means set forth below. If the Participant fails to notify the  Company of his or her election prior to the Tax Date (defined below), the Company may  take such action as it deems appropriate to ensure taxes are withheld and collected.   (i) Tendering a payment to the Company in the form of cash, check  (bank check, certified check or personal check) or money order payable to the  Company;  (ii) Authorizing the Company to withhold from the shares of Common  Stock otherwise issuable to the Participant a number of shares having a Fair Market  Value as of the Tax Date up to the amount of the Company's withholding tax  obligation; or  (iii) Delivering to the Company unencumbered shares of Common Stock  already owned by Participant having a Fair Market Value, as of the Tax Date, up to  the amount of the withholding tax obligation. Any shares of Common Stock already  owned by Participant referred to in this Section 8(b)(iii) must have been owned by  Participant for no less than six (6) months prior to the date delivered to the  Company.  

 

    9. Participant Covenants. In consideration of the grant of this Award by the Company,  Participant agrees to the following:  (a) Confidentiality. In the course of Participant's employment with the  Company, Participant may be making use of, acquiring, or adding to the Company's  confidential information, trade secrets, and Protected Information; accordingly, Participant  agrees and promises:  (i) to protect and maintain the confidentiality of Protected Information  while employed by the Company;  (ii) to return (and not retain) any and all materials reflecting Protected  Information that Participant may possess (including all Company-owned  equipment) immediately upon end of employment or upon demand by the  Company; and  (iii) not to use or disclose, except as necessary for the performance of  Participant's services on behalf of the Company or as required by law or legal  process, any Protected Information where such use or disclosure would be  detrimental to the interests of the Company. This promise applies only for so long  as such Protected Information remains confidential and not generally known to the  Company's competitors, or 18 months following the end of Participant's  employment with the Company, whichever occurs first.  (b) Restrictive Covenants. Participant understands and agrees that the  Company has legitimate interests in protecting its goodwill, its relationships with  customers and business partners, and in maintaining its confidential information, trade  secrets and Protected Information, and hereby agrees that the following restrictions are  appropriate to meet such goals.  (i) Non-Solicitation. Participant acknowledges that the relationships  and goodwill that Participant develops with Company Customers as a result of  Participant's employment belong to the Company. Participant therefore agrees that  while employed by the Company and for a period of 12 months after Participant's  employment with the Company ends, for whatever reason, Participant will not, and  will not assist anyone else to, (1) solicit or encourage any Company Customer to  terminate or diminish its relationship with the Company relating to Competitive  Services or Products; or (2) seek to persuade any Company Customer to conduct  with anyone other than the Company any business or activity relating to  Competitive Services or Products that such Company Customer conducts or could  conduct with the Company.  (ii) Non-Competition. Participant agrees that while employed by the  Company and for a period of 12 months after Participant's employment with the  Company ends for any reason, Participant will not, for himself or herself, or on  behalf of any other person or entity, directly or indirectly, provide services to a  Direct Competitor in a role where Participant's knowledge of Protected Information  

 

    is likely to affect Participant's decisions or actions for the Direct Competitor to the  detriment of the Company.  (c) Definitions. For purposes of this Section 9, the following terms shall be  defined as follows:   (i) Protected Information. "Protected Information" means Company  information not generally known to, and not readily ascertainable through proper  means by, the Company's competitors on matters such as customer information,  partner information, and the relative skills and experience of the Company's other  Participants or agents; nonpublic information; strategic plans; business methods;  investment strategies and plans; intellectual property; sales and marketing plans;  Company (not individual) know-how; trade secrets; and other information of a  technical or economic nature relating to the Company's business.  Protected Information does not include information that (i) was in the public  domain, (ii) was independently developed or acquired by Participant, (iii) was  approved by the Company for use and disclosure by Participant without restriction,  or (iv) is the type of information which might form the basis for protected concerted  activity under the National Labor Relations Act (for example, Participant pay or  Participant terms and conditions of employment).  (ii) Company Customer. "Company Customer" is limited to those  customers or partners who did business with the Company within the most recent  18 months of Participant's employment (or during the period of Participant's  employment, if Participant was employed for less than 18 months) and with whom  Participant personally dealt on behalf of the Company in the 12 months  immediately preceding the last day of Participant's employment and Participant had  business contact or responsibility with such Company Customer as a result of his  or her employment with the Company. "Company Customer" shall not, however,  include any individual who purchased a Competitive Product from the Company  by direct purchase from one of its retail establishments or via on-line over the  Internet, unless such purchase was of such quantity that the purchase price exceeded  $15,000.  (iii) Competitive Services. "Competitive Services" means services of the  type that the Company provided or offered to its customers or partners at any time  during the 12 months immediately preceding the last day of Participant's  employment with the Company (or at any time during Participant's employment if  Participant was employed for less than 12 months), and for which Participant was  involved in providing or managing the provision of such services.  (iv) Competitive Products. "Competitive Products" means products that  serve the same function as, or that could be used to replace, products the Company  provided to, offered to, or was in the process of developing for a present, former,  or future possible customer/partner at any time during the twelve (12) months  immediately preceding the last day of Participant's employment (or at any time  

 

    during Participant's employment if Participant was employed for less than 12  months), with which Participant had direct responsibility for the sale or  development of such products or managing those persons responsible for the sale  or development of such products.  (v) Direct Competitor. "Direct Competitor" means a person, business or  company providing Competitive Products or Competitive Services anywhere in the  United States. "Direct Competitor" does not include any business which the parties  have agreed in writing to exclude from the definition, and the Company will not  unreasonably or arbitrarily withhold such agreement.  (d) Non-disparagement. Participant agrees that, while employed with the  Company and thereafter, Participant will not, directly or indirectly, individually or in  concert with others, engage in any conduct or make any statement calculated or likely to  have the effect of undermining, disparaging or otherwise reflecting poorly upon the  Company, any member of its Board of Directors or any executive officer of the Company  (the "Protected Persons") or the Company's business. Without limitation, Participant shall  not publish, communicate, post or blog disparaging or confidential information about the  Protected Persons. However, the Participant may give truthful and non-malicious  testimony if properly subpoenaed to testify under oath.   (e) Exception. Nothing in this Award Agreement is intended to prevent the  Participant from making disclosures of Protected Information if required by applicable law,  regulation, or legal process, provided that the Participant provide the Company with prior  notice of the contemplated disclosure and reasonably cooperate with the Company, at its  expense, in seeking a protective order or other appropriate protection of such information.  In addition, nothing in this Award Agreement is intended interfere with the whistleblower  provisions of any United States federal, state or local law or regulation, including but not  limited to Rule 21F-17 of the Securities Exchange Act of 1934 or § 1833(b) of the Defend  Trade Secrets Act of 2016. Accordingly, notwithstanding anything to the contrary therein,  nothing in this Award Agreement prohibits, restricts or prevents the Participant from  reporting possible violations of United States federal, state or local law or regulation to any  United States federal, state or local governmental agency or entity, including but not  limited to the Department of Justice, the Securities and Exchange Commission, the  Congress, and any agency Inspector General, or to an attorney, or from making other  disclosures that are protected under the whistleblower provisions of federal law or  regulation, or from disclosing trade secrets and other Protected Information in the course  of such reporting; provided, however, that the Participant use the Participant's reasonable  best efforts to (i) disclose only information that is reasonably related to such possible  violations or that is requested by such agency or entity and (ii) request that such agency or  entity treat such information as confidential. The Participant does not need the prior  authorization from the Company to make any such whistleblower reports or disclosures  and is not required to notify the Company that the Participant has made such reports or  disclosures.  

 

    10. Miscellaneous.  (a) Neither this Award Agreement nor the Plan confers on Participant any right  with respect to the continuance of employment by the Company or any Subsidiary, nor will  there be a limitation in any way on the right of the Company or any Subsidiary by which  Participant is employed to terminate his or her employment at any time.  (b) In the event of a restatement of the Company's consolidated financial  statements for any interim or annual period ("Restatement"), the Committee may determine  that the Award exceeds the amount that would have been awarded or received had the  Restatement been known at the time of the Award Date or at the time of conversion of the  Restricted Stock Units to shares of Common Stock. In the event that the Committee makes  such a determination, the Company shall have the right: (i) in the instance of a Participant  whose misconduct or violation of a Company policy causes such Restatement, or; (ii) in  the instance where a Participant is an officer subject to Section 16 of the Securities and  Exchange Act of 1934, and without regard to whether Participant caused the Restatement,  to (A) forfeit this Award, and/or (B) to require repayment or return of any benefit derived  from this Award. Both the cause and the amount of adjustment and/or repayment shall be  determined by the Committee in its sole discretion, and its decision shall be final and  binding upon the Participant.   (c) An original record of this Award Agreement and all the terms hereof,  executed by the Company and accepted and acknowledged by the Participant, is held on  file by the Company. This Award Agreement and the Participant's acknowledgment may  be made in paper or in electronic format as specified by the Company. To the extent there  is any conflict between the terms contained in this Award and the terms contained in the  original held by the Company, the terms of the original held by the Company shall control.  11. Section 409A Compliance. To the extent applicable, it is intended that this Award  Agreement be exempt from or comply with the provisions of Section 409A of the Internal Revenue  Code ("Section 409A"). This Award Agreement will be administered and interpreted in a manner  consistent with this intent, and any provision that would cause the Award Agreement to fail to  satisfy Section 409A will have no force and effect until amended to comply therewith (which  amendment may be retroactive to the extent permitted by Section 409A). If any payments under  this Award Agreement constitute nonqualified deferred compensation subject to the requirements  of Section 409A and are payable upon a termination of the Participant's employment, then (a) all  such payments shall be made only upon a "separation from service" within the meaning of  Section 409A, (b) for purposes of determining the timing of such payments, Participant's  termination shall not be considered to occur until he or she has incurred such a separation from  service and (c) to the extent required for compliance with Section 409A if Participant is a  "specified employee" within the meaning of Section 409A, payments will be delayed by six  months.  12. Section 280G. Notwithstanding anything contained in this Award Agreement to the  contrary, to the extent that any of the payments and benefits provided for under this Award  Agreement, together with any payments or benefits under any other agreement or arrangement  between the Company or any of its affiliates and the Participant (collectively, the "Payments")  

 

    would constitute a "parachute payment" within the meaning of Section 280G of the Code, the  amount of such Payments shall be reduced (to the extent any reduction is necessary) to the amount  that would result in no portion of the Payments being subject to the excise tax imposed pursuant  to Section 4999 of the Code if and only if such reduction would provide the Participant with an  after-tax amount greater than if there was no reduction. Any reduction shall be done in a manner  that maximizes the amount to be retained by the Participant, provided that to the extent any order  is required to be set forth herein, then such reduction shall be applied in the following order: (a)  payments that are payable in cash that are valued at full value under Treasury Regulation Section  1.280G-1, Q&A 24(a) will be reduced (if necessary, to zero), with amounts that are payable last  reduced first; (b) payments due in respect of any equity valued at full value under Treasury  Regulation Section 1.280G-1, Q&A 24(a) will be reduced next (if necessary, to zero), with  amounts that are payable or deliverable last reduced first; (c) payments that are payable in cash  that are valued at less than full value under Treasury Regulation Section 1.280G- 1, Q&A 24 will  be reduced next (if necessary, to zero), with the highest values reduced first (as such values are  determined under Treasury Regulation Section 1.280G-1, Q&A 24); (d) payments due in respect  of any equity valued at less than full value under Treasury Regulation Section 1.280G-1, Q&A 24  will be reduced next (if necessary, to zero), with the highest values reduced first (as such values  are determined under Treasury Regulation Section 1.280G-1, Q&A 24); and (e) all other non-cash  benefits will be next reduced pro-rata.  [Signatures appear on the following page]     

 

    IN WITNESS WHEREOF, the parties have executed this Award Agreement effective as  of the Award Date.  Herman Miller, Inc.     By:_____________________________________   Jeffrey M. Stutz   Chief Financial Officer              ACCEPTANCE AND ACKNOWLEDGEMENT  Via electronic ACCEPT, I accept the Award Agreement described herein and in the Plan,  acknowledge receipt of a copy of this Award Agreement and the Plan Prospectus, and  acknowledge that I have read them carefully and that I fully understand their contents.        17414879.2     

 

    APPENDIX A  Peer Group  1. Peer Group. The Peer Group shall consist of the following companies:  American Woodmark Corporation  Ethan Allen Interiors, Inc.  Floor & Décor Holdings  HNI Corporation  Interface, Inc.  JELD-WEN Holdings, Inc.  Kimball International, Inc.  Knoll, Inc.  La-Z-Boy, Inc.  Leggett & Platt, Inc.  Masonite International Corporation  RH aka Restoration Hardware Holdings, Inc.  Sleep Number Corporation  Steelcase, Inc.  Tempur Sealy International, Inc.  Universal Forest Products, Inc.  Williams-Sonoma, Inc.  Wayfair, Inc.  2. Adjustments to the Peer Group. The Committee may decide to adjust, in its sole  discretion, the Peer Group at any time during the Performance Period to reflect the occurrence of  certain extraordinary events. The Committee will generally make the determination to adjust (or  not adjust) the Peer Group in accordance with the following guidelines but reserves the right to  make adjustments in addition to, or that conflict with, such guidelines if it determines such  adjustments are equitable.  a.  If a Peer Group company becomes bankrupt, the bankrupt company will  remain in the Peer Group and will positioned at one level below the lowest performing  non-bankrupt Peer Group company. In the case of multiple bankruptcies, the bankrupt  companies will be positioned below the non-bankrupt companies in reverse chronological  order by bankruptcy date.   b. If a Peer Group company is acquired by another company, the acquired  company will be removed from the Peer Group for the entire Performance Period.   c. If a Peer Group company sells, spins-off, or disposes of a portion of its  business, the selling Peer Group company will remain in the Peer Group for the entire  Performance Period unless such disposition(s) results in the disposition of more than 50%  of the company's total assets during the Performance Period, in which case the Peer Group  company shall be removed from the Peer Group.  

 

    d. If a Peer Group company acquires another company, the acquiring Peer  Group company will remain in the Peer Group.   e. If the price of a Peer Company's common stock (or its equivalent) is not  available on a consistent, reliable basis due to delisting on all major stock exchanges and  over-the-counter markets, such delisted Peer Group company will be removed from the  Peer Group for the entire Performance Period; provided, however, that if the company  becomes bankrupt prior to the end of the Performance Period, it shall be treated as in (a)  above.  f. If the Company's and/or any Peer Group company's stock splits, then the  Committee shall adjust such company's performance in a manner that it deems equitable  so as not to give an advantage or disadvantage to such Peer Group company by comparison  to the other Peer Group companies.

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