Document:

Exhibit 10-B

 

SHOE CARNIVAL, INC.

 

Restricted Stock Award Agreement

Under the 2017 Equity Incentive Plan

(Non-Employee Directors)

 

Shoe Carnival, Inc.
(the “Company”), pursuant to its 2017 Equity Incentive Plan (the “Plan”), hereby grants an award of Restricted
Stock to you, the Participant named below. The terms and conditions of this Restricted Stock Award are set forth in this Restricted
Stock Award Agreement (the “Agreement”), consisting of this cover page and the Terms and Conditions on the following
pages, and in the Plan document, a copy of which has been provided or otherwise made available to you and is incorporated herein
by reference and made a part of this Agreement. Any capitalized term that is not defined in this Agreement shall have the meaning
set forth in the Plan, as it currently exists or as it is amended in the future.

 

	Name
    of Participant: [_______________________]	 
	Number
    of Shares of Restricted Stock:  [_______]	Grant
    Date:                       __________, 20__	 
	Vesting
    Date:  [_________________]	 
	 	 
	 	 	 	 

By signing below
or otherwise evidencing your acceptance of this Agreement in a manner approved by the Company, you agree to all of the terms and
conditions contained in this Agreement and in the Plan document. You acknowledge that you have received and reviewed these documents
and that they set forth the entire agreement between you and the Company regarding your rights and obligations in connection with
this Restricted Stock Award.

 

	PARTICIPANT: 		SHOE CARNIVAL, INC.
	 	 	 
	 	 	By:
	[Name] 	 	Name:
	 	 	Title:

 

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Shoe Carnival, Inc.

2017 Equity Incentive Plan

Restricted Stock Award Agreement

 

Terms and Conditions

 

1.       Grant
of Restricted Stock. The Company hereby grants to you, as of the Grant Date specified on the cover page of this Agreement
(the “Grant Date”) and subject to the terms and conditions in this Agreement and the Plan, an Award of the number of
Shares of Restricted Stock specified on the cover page of this Agreement. Unless and until these Shares vest as provided in Section
4 of this Agreement, they are subject to the restrictions provided for in Section 3 of this Agreement and are referred to as “Restricted
Shares.”

 

2.       Issuance
of Restricted Shares. Until the Restricted Shares vest as provided in Section 4 of this Agreement, the Restricted Shares
will be evidenced either by a book-entry in your name with the Company’s transfer agent or by one or more stock certificates
issued in your name. Any such stock certificate(s) will be deposited with the Company or its designee and will bear the following
legend:

 

“This Certificate and
the shares of stock evidenced hereby are subject to the terms and conditions (including possible forfeiture and restrictions on
transfer) contained in the Shoe Carnival, Inc. 2017 Equity Incentive Plan (the “Plan”) and the Restricted Stock Award
Agreement (the “Agreement”) between the registered owner of the shares evidenced hereby and the Company. Release from
such terms and conditions shall be made only in accordance with the provisions of the Agreement and the Plan, copies of which are
on file in the office of the Company’s Secretary.”

 

Any book-entry will be accompanied by
a similar legend and shall be subject to such stop-transfer orders and other restrictions as the Company may deem advisable. Your
right to receive this Restricted Stock Award is conditioned upon your execution and delivery to the Company of any instructions
of assignment that may be necessary to permit transfer to the Company of all or a portion of the Restricted Shares if such Restricted
Shares are forfeited in whole or in part.

 

3.       Transfer
Restrictions, Possible Forfeiture and Rights as Shareholder.

 

(a)               
Until the Restricted Shares vest as provided in Section 4 of this Agreement, you are not
entitled to sell, assign, transfer, exchange or encumber the Restricted Shares, other than by will or the laws of descent and distribution,
and the Restricted Shares remain subject to possible forfeiture as provided in Section 5 of this Agreement. Any attempted transfer
in violation of this Agreement or the Plan shall be null and void and of no effect. 

 

(b)       Except
as otherwise provided in this Agreement or the Plan, you are entitled at all times on and after the Grant Date to all the rights
of a shareholder with respect to the Restricted Shares, including the right to vote the Restricted Shares. Any dividends or distributions,
including regular cash dividends, payable with respect to outstanding but unvested Restricted Shares, including any Shares or other
property or securities distributable as the result of any equity restructuring or other change in corporate capitalization described
in Section 12 of the Plan, shall be delivered to, retained and held by the Company subject to the same restrictions, vesting conditions
and other terms of this Agreement to which the underlying unvested Restricted Shares are subject. At the time the underlying Restricted
Shares vest, the Company shall deliver

 

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to you (without interest) such
retained dividends and distributions that relate to the Restricted Shares that have vested. You agree to execute and deliver to
the Company any instruments of assignment that may be necessary to permit transfer to the Company of all or any portion of any
dividends or distributions subject to this Section 3(b) that may be forfeited.

 

 4.        Vesting of Restricted Shares.

 

(a)               
Scheduled Vesting. If you remain a Service Provider continuously from the Grant Date,
then the Restricted Shares will vest on the Vesting Date specified on the cover page of this Agreement (the “Vesting Date”).

 

(b)              
Accelerated Vesting. Notwithstanding Section 4(a) of this Agreement:

 

(1)               
Death or Disability. If your Service terminates prior to the Vesting Date due to
your death or Disability, all of the Restricted Shares shall vest in full immediately upon such termination.

 

(2)              
Change in Control. If a Change in Control occurs prior to the Vesting Date, all of
the Restricted Shares shall vest in full immediately prior to the effective time of such Change in Control.

 

5.       Effect
of Termination of Service. Except as otherwise provided in accordance with Section 4(b) of this Agreement, if you cease
to be a Service Provider, you will immediately forfeit all unvested Restricted Shares and all retained dividends and distributions
that relate to such unvested Restricted Shares. Any Restricted Shares that are forfeited shall be returned to the Company for cancellation.
You shall have no further rights as a shareholder of the Company with respect to the forfeited Shares, including, without limitation,
any right to receive any dividend or distribution payable to shareholders of record on or after the date of such forfeiture.

 

6.       Delivery
of Unrestricted Shares. After any Restricted Shares vest pursuant to Section 4 of this Agreement, and after the Company
has determined that all conditions to the release of such vested Shares to you, including compliance with all applicable legal
requirements as provided in Section 18(c) of the Plan, have been satisfied, the Company shall, as soon as practicable, cause to
be delivered to you, or to your designated beneficiary or estate in the event of your death, the applicable number of unrestricted
Shares. Delivery of the unrestricted Shares shall be effected by the removal of restrictions on the book-entry in the stock register
maintained by the Company’s transfer agent with a corresponding notice provided to you, by the electronic delivery of the
Shares to a brokerage account you designate, or by delivery to you of a stock certificate without a restrictive legend.

 

7.       No
Right to Continued Service or Future Awards. This Agreement awards Restricted Stock to you, but does not impose any obligation
on the Company to make any future grants or issue any future awards to you or otherwise continue your participation under the Plan.
This Agreement will not give you a right to continued Service with the Company or any Affiliate, and the Company may terminate
your Service without regard to the effect it may have upon you under this Agreement.

 

8.       Tax
Consequences. You acknowledge that unless you make a proper and timely Section 83(b) election as described below, then
at the time the Restricted Shares vest, you will be obligated to recognize ordinary income and be taxed in an amount equal to the
Fair Market Value as of the date of

 

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vesting of the Restricted Shares then
vesting. You shall be solely responsible for any tax obligations that may arise as a result of this Award.

 

You understand that,
with respect to the grant of this Restricted Stock Award, you may file an election with the Internal Revenue Service, within 30
days of the Grant Date, electing pursuant to Section 83(b) of the Code to be taxed on the Fair Market Value of the Restricted Shares
as of the Grant Date. You acknowledge that it is your sole responsibility to timely file an election under Section 83(b) of the
Code. If you make such an election, you must promptly provide the Company with a copy.

 

9.       Governing
Plan Document. This Agreement and the Award are subject to all the provisions of the Plan, including the confidentiality,
non-solicitation, forfeiture and recovery provisions set forth in Section 17 of the Plan, and to all interpretations, rules and
regulations which may, from time to time, be adopted and promulgated by the Board or the Committee pursuant to the Plan. All interpretations
of the Committee and all related decisions or resolutions of the Board or the Committee shall be final and binding on the Company
and you. If there is any inconsistency between the provisions of this Agreement and the Plan, the provisions of the Plan will govern.

 

10.       Entire
Agreement. This Agreement and the Plan set forth the entire agreement and understanding of the parties hereto with respect
to the issuance and delivery of the Restricted Shares and supersede all prior agreements, arrangements, plans, and understandings
relating to the issuance and delivery of these Restricted Shares.

 

11.       Choice
of Law. This Agreement will be interpreted and enforced under the laws of the state of Indiana (without regard to its conflicts-of-law
principles).

 

12.       Binding
Effect. This Agreement will be binding in all respects on your heirs, representatives, successors and assigns, and on the
successors and assigns of the Company.

 

13.       Electronic
Delivery and Acceptance. The Company may deliver any documents related to this Restricted Stock Award by electronic means
and request your acceptance of this Agreement by electronic means. You hereby consent to receive all applicable documentation by
electronic delivery and to participate in the Plan through an on-line (and/or voice activated) system established and maintained
by the Company or the Company’s third-party stock plan administrator.

 

    4Exhibit 10-C

 

SHOE CARNIVAL, INC.

2017 EQUITY INCENTIVE PLAN

 

Restricted Stock Unit Award Agreement

(Executive Officers)

 

Shoe Carnival, Inc.
(the “Company”), pursuant to its 2017 Equity Incentive Plan (the “Plan”), hereby grants an award of Restricted
Stock Units to you, the Participant named below. The terms and conditions of this Award are set forth in this Restricted Stock
Unit Award Agreement (the “Agreement”), consisting of this cover page and the Terms and Conditions on the following
pages, and in the Plan document, a copy of which has been provided or otherwise made available to you and is incorporated by reference
and made a part of this Agreement. Any capitalized term that is used but not defined in this Agreement shall have the meaning set
forth in the Plan as it currently exists or as it is amended in the future.

 

	Name
    of Participant: [_______________________]	 
	Number
    of Restricted Stock Units: [_______]	Grant
    Date:                       [_________]	 
	Vesting
    Schedule:	 
	 

        Scheduled Vesting Dates

 
	 

        Number of Restricted Stock
        Units that Vest 

 

	 	 	 	 

By signing below
or otherwise evidencing your acceptance of this Agreement in a manner approved by the Company, you agree to all of the terms and
conditions contained in this Agreement and in the Plan document. You acknowledge that you have received and reviewed these documents.

 

	PARTICIPANT: 		SHOE CARNIVAL, INC.
	 	 	 
	 	 	By:
	[Name] 	 	Name:
	 	 	Title:

 

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Shoe Carnival, Inc.

2017 Equity Incentive Plan

Restricted Stock Unit Award Agreement

 

Terms and Conditions

 

1.       Grant
of Restricted Stock Units. The Company hereby grants to you, as of the Grant Date specified on the cover page of this Agreement
(the “Grant Date”) and subject to the terms and conditions in this Agreement and the Plan, an Award of the number of
Restricted Stock Units specified on the cover page of this Agreement (the “Units”). Each Unit represents the right
to receive one Share of the Company’s Stock. Prior to their settlement or forfeiture in accordance with the terms of this
Agreement, the Units granted to you will be credited to an account in your name maintained by the Company. This account shall be
unfunded and maintained for book-keeping purposes only, with the Units simply representing an unfunded and unsecured contingent
obligation of the Company.

 

2.       Restrictions
Applicable to Units. Neither this Award nor the Units subject to this Award may be sold, assigned, transferred, exchanged
or encumbered, voluntarily or involuntarily, other than a transfer upon your death in accordance with your will, by the laws of
descent and distribution or pursuant to a beneficiary designation submitted in accordance with Section 6(d) of the Plan. Following
any such transfer, this Award shall continue to be subject to the same terms and conditions that were applicable to this Award
immediately prior to its transfer. Any attempted transfer in violation of this Section 2 shall be void and without effect.
The Units and your right to receive Shares in settlement of the Units under this Agreement shall be subject to forfeiture as provided
in Section 4 of this Agreement until satisfaction of the vesting conditions set forth in Section 3 of this Agreement.

 

 3.        Vesting of Units. For purposes of this Agreement, “Vesting Date” means any date, including the Scheduled Vesting Dates specified in the Vesting Schedule on the cover page of this Agreement, on which Units subject to this Agreement vest as provided in this Section 3. Notwithstanding the vesting and subsequent settlement of this Award, it shall remain subject to the provisions of Section 17 of the Plan.

 

(a)               
Scheduled Vesting. If you remain a Service Provider continuously from the Grant Date,
then the Units will vest in the amounts and on the Scheduled Vesting Dates specified in the Vesting Schedule.

 

(b)              
Accelerated or Continued Vesting. The vesting of outstanding Units will be accelerated
or continued under the circumstances provided below:

 

(1)               
Death or Disability. If your Service terminates prior to the final Scheduled Vesting
Date due to your death or Disability, all of the unvested Units shall vest as of such termination date.

 

(2)              
Termination by the Company without Cause or Voluntarily by You for Good Reason. If
your Service is terminated by the Company without Cause or voluntarily by you for Good Reason in accordance with the procedures
set forth in your [Amended and Restated] Employment and Noncompetition Agreement dated [                     ]
(the “Employment Agreement”) prior to the final Scheduled Vesting Date, all of the unvested

 

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Units shall vest as of such termination
date. For purposes of this Agreement, “Cause” and “Good Reason” are each as defined in your Employment
Agreement.

 

(3)              
Change in Control. If a Change in Control occurs while you continue to be a Service
Provider and prior to the final Scheduled Vesting Date, the following provisions shall apply:

 

(i)                
If, within 24 months after a Change of Control (A) described in paragraphs (i) or (ii) of
Section 2(f) of the Plan or (B) that constitutes a Corporate Transaction as defined in paragraph (iii) of Section 2(f) of the Plan
and in connection with which the surviving or acquiring entity (or its parent entity) has continued, assumed or replaced this Award,
you cease to be a Service Provider due to a termination by the Company without Cause or voluntarily by you for Good Reason in accordance
with the procedures set forth in your Employment Agreement, then all unvested Units shall immediately vest in full upon such termination.

 

(ii)              
If this Award is not continued, assumed or replaced in connection with a Change in Control
that constitutes a Corporate Transaction, than all unvested Units shall immediately vest in full upon the occurrence of the Change
in Control. 

 

(iii)            
For purposes of this Section 3(b)(3), this Award will be considered assumed or replaced
under the circumstances specified in Section 12(b)(i) of the Plan.

 

4.       Effect
of Termination of Service. Except as otherwise provided in accordance with Section 3(b) of this Agreement, if you cease
to be a Service Provider, you will immediately forfeit all unvested Units.

 

5.         Settlement
of Units. After any Units vest pursuant to Section 3 of this Agreement, the Company shall, as soon as practicable (but
no later than the 15th day of the third calendar month following the Vesting Date), cause to be issued and delivered
to you (or to your personal representative or your designated beneficiary or estate in the event of your death, as applicable),
one Share in payment and settlement of each vested Unit. Delivery of the Shares shall be effected by the issuance of a stock certificate
to you, by an appropriate entry in the stock register maintained by the Company’s transfer agent with a notice of issuance
provided to you, or by the electronic delivery of the Shares to a brokerage account you designate, and shall be subject to the
tax withholding provisions of Section 8 of this Agreement and compliance with all applicable legal requirements as provided in
Section 18(c) of the Plan, and shall be in complete satisfaction and settlement of such vested Units. The Company will pay any
original issue or transfer taxes with respect to the issue and transfer of Shares to you pursuant to this Agreement, and all fees
and expenses incurred by it in connection therewith.

 

6.       Dividend
Equivalents. If the Company pays cash dividends on its Shares while any Units subject to this Agreement are outstanding,
then the Company shall credit, as of each dividend payment date, a dollar amount of dividend equivalents
to your account. The dollar amount of the dividend equivalents credited shall be determined by multiplying
the number of Units credited to your account pursuant to this Agreement as of the dividend record date times the dollar amount
of the cash dividend per Share. Your right to receive such accrued dividend equivalents shall vest, and
the amount of the accrued dividend equivalents shall be paid in cash, to the same extent and at the same time as the underlying
Units to which the dividend equivalents relate vest and are settled, as provided in Sections 3 and 5 of this Agreement. No interest
shall accrue on any unpaid dividend equivalents. Any dividend

 

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equivalents accrued on Units that are
forfeited in accordance with this Agreement shall also be forfeited.

 

7.       No
Right to Continued Service or Future Awards. This Agreement awards Units to you, but does not impose any obligation on
the Company to make any future grants or issue any future awards to you or otherwise continue your participation under the Plan.
This Agreement does not give you a right to continued Service with the Company or any Affiliate, and the Company or any such Affiliate
may terminate your Service at any time without regard to the effect it may have upon you under this Agreement.

 

8.       Tax
Consequences and Withholding. As a condition precedent to the delivery of Shares in settlement of vested Units, you are
required to make arrangements acceptable to the Company for payment of any federal, state, local or foreign withholding taxes that
may be due as a result of the delivery of the Shares. The Company will retain a portion of the Shares that would otherwise be delivered
to you in settlement of vested Units, which retained Shares shall have a Fair Market Value on the date the taxes are required to
be withheld equal to the amount of taxes required to be withheld, unless you provide notice to the Company prior to the vesting
date of the Units that you desire to pay cash or direct the Company (or any Affiliate) to withhold from payroll or other amounts
payable to you any sums required to satisfy such withholding tax obligations, and otherwise agree to satisfy such obligations in
accordance with the provisions of Section 14 of the Plan. Delivery of Shares in settlement of vested Units is subject to the satisfaction
of applicable withholding tax obligations.

 

9.       No
Shareholder Rights. The Units subject to this Award do not entitle you to any rights of a holder of the Company’s
Stock. You will not have any of the rights of a shareholder of the Company in connection with the grant of Units subject to this
Agreement unless and until Shares are issued to you in settlement of the Units as provided in Section 5 of this Agreement.

 

10.       Governing
Plan Document. This Agreement and the Award are subject to all the provisions of the Plan, including the confidentiality,
non-solicitation, forfeiture and recovery provisions set forth in Section 17 of the Plan, and to all interpretations, rules and
regulations which may, from time to time, be adopted and promulgated by the Board or the Committee pursuant to the Plan. All interpretations
of the Committee and all related decisions or resolutions of the Board or the Committee shall be final and binding on the Company
and you. If there is any conflict between the provisions of this Agreement and the Plan, the provisions of the Plan will govern.

 

11.       Choice
of Law. This Agreement, the parties’ performance hereunder, and the relationship between them shall be governed by,
construed, and enforced in accordance with the laws of the State of Indiana, without giving effect to the choice of law principles
thereof.

 

12.       Severability.
The provisions of this Agreement shall be severable and if any provision of this Agreement is found by any court to be unenforceable,
in whole or in part, the remainder of this Agreement shall nevertheless be enforceable and binding on the parties. You also agree
that any trier of fact may modify any invalid, overbroad or unenforceable provision of this Agreement so that such provision, as
modified, is valid and enforceable under applicable law.

 

13.       Binding
Effect. This Agreement will be binding in all respects on your heirs, representatives, successors and assigns, and on the
successors and assigns of the Company.

 

14.       Section
409A of the Code. The award of Units as provided in this Agreement and any issuance

 

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of Shares or payment pursuant to this
Agreement are intended to be exempt from Section 409A of the Code under the short-term deferral exception specified in Treas.
Reg. § 1.409A-l(b)(4).

 

15.       Electronic
Delivery and Acceptance. The Company may deliver any documents related to this Restricted Stock Unit Award by electronic
means and request your acceptance of this Agreement by electronic means. You hereby consent to receive all applicable documentation
by electronic delivery and to participate in the Plan through an on-line (and/or voice activated) system established and maintained
by the Company or the Company’s third-party stock plan administrator.

 

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