Document:

EX-10.4

 EXHIBIT 10.4 

FORM OF RESTRICTED STOCK UNIT AGREEMENT 

FOR RETIREMENT ELIGIBLE PARTICIPANTS 

H.B. FULLER COMPANY 

RESTRICTED STOCK UNIT AWARD AGREEMENT 

(Under the H.B. Fuller Company 2013 Master Incentive Plan) 

THIS AGREEMENT, dated as of                ,
20        , is entered into between H.B. Fuller Company, a Minnesota corporation (the “Company”),
and                     , an employee of the Company or an affiliate of the Company (“Participant”). 

WHEREAS, the Company, pursuant to the H.B. Fuller Company 2013 Master Incentive Plan (the “Plan”), wishes to award to
Participant Restricted Stock Units, representing the right to receive shares of common stock, par value $1.00 per share, of the Company (“Common Stock”), subject to certain restrictions and on the terms and conditions contained in this
Agreement and the Plan; 
 NOW, THEREFORE, in consideration of the premises and agreements set forth herein, the parties hereto
hereby agree as follows: 
 1. Award of Restricted Stock Units. The Company, effective as of the date of this Agreement, hereby grants to Participant
an award of             Restricted Stock Units, each Restricted Stock Unit representing the right to receive one share of Common Stock on such date as set forth herein, plus an additional
amount pursuant to Section 2(b) hereof, subject to the terms and conditions set forth in this Agreement. 
 2. Rights of Participant with Respect to
the Restricted Stock Units. 
 (a) No Shareholder Rights. The Restricted Stock Units granted pursuant to this Agreement 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, and the
restrictions with respect to the Restricted Stock Units lapse, in accordance with Section 3 hereof. 
 (b) Dividend Equivalents.
As long as Participant holds Restricted Stock Units granted pursuant to this Agreement, the Company shall credit to Participant, on each date that the Company pays a cash dividend to holders of Common Stock generally, an additional number of
Restricted Stock Units (“Additional Restricted Stock Units”) equal to the total number of whole Restricted Stock Units and Additional Restricted Stock Units previously credited to Participant under this Agreement multiplied by the dollar
amount of the cash dividend paid per share of Common Stock by the Company on such date, divided by the Fair Market Value of a share of Common Stock on such date. Any fractional Restricted Stock Unit resulting from such calculation shall be included
in the Additional Restricted Stock Units. A report showing the number of Additional Restricted Stock Units so credited shall be sent to Participant periodically, as determined by the Company. The Additional Restricted Stock Units so credited shall
be subject to the same terms and conditions as the Restricted Stock Units granted pursuant to this Agreement and the Additional Restricted Stock Units shall be forfeited in the event that the Restricted Stock Units with respect to which the dividend
equivalents were credited are forfeited. 

 (c) Issuance of Shares; Conversion of Restricted Stock Units. 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 3 hereof. Neither this Section 2(c) nor any action
taken pursuant to or in accordance with this Section 2(c) shall be construed to create a trust of any kind. After any Restricted Stock Units vest pursuant to Section 3 hereof, the Company shall promptly cause to be issued, in either
certificated or uncertificated form, shares of Common Stock registered in Participant’s name or in the name of Participant’s legal representatives, beneficiaries or heirs, as the case may be, in payment of such vested whole Restricted
Stock Units and any Additional Restricted Stock Units and shall cause such certificated or uncertificated shares to be delivered to Participant or Participant’s legal representatives, beneficiaries or heirs, as the case may be. In no event
shall issuance of shares occur more than ninety (90) days after the applicable vesting date. The value of any fractional Restricted Stock Unit shall be cancelled at the time certificated or uncertificated shares are delivered to Participant in
payment of the Restricted Stock Units and any Additional Restricted Stock Units. 
 3. Vesting; Forfeiture. 

(a) Vesting Dates. 
  

					
	 Date
	  	 Percentage of Restricted Stock Units to Vest
	 
	             , 20    
	  	 	    	% 
	             , 20    
	  	 	    	% 
	             , 20    
	  	 	    	% 
	             , 20    
	  	 	    	% 
	             , 20    
	  	 	    	% 

 (b) Subject to the terms and conditions of this Agreement, the Restricted Stock Units shall vest in full in
                     annual installments and the restrictions with respect to the Restricted Stock Units shall lapse on the vesting dates set forth
in Sec. 3(a) above, if any one of the following conditions exists on each applicable date, 
 (i) Participant remains
continuously employed by the Company or an Affiliate of the Company, or 
 (ii) Participant is eligible for retirement (as
defined hereafter) and retired from the Company or any Affiliate of Company prior to the applicable vesting date, or 
 (iii)
A “Change in Control” (as defined below) has occurred, or 
 (iv) Participant is permanently disabled (within the
meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended). 
 (c) Early Vesting. Notwithstanding the vesting
provision contained in Section 3(b) above, but subject to the other terms and conditions set forth herein, upon the occurrence of Participant’s death, Participant or Participant’s legal representatives, beneficiaries or heirs, as the
case may be, shall become immediately vested in all of the Restricted Stock Units, and the restrictions with respect to the Restricted Stock Units shall lapse, as of the date of such death. Issuance of the shares shall occur as soon as
administratively feasible after the Participant’s death but in no event more than ninety (90) days after death. 

  
 2 

 (d) For the purposes of this Agreement, a “Change in Control” shall be deemed to have
occurred upon any of the following events: 
  

	 	(1)	a public announcement (which, for purposes hereof, shall include, without limitation, a report filed pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) that
any individual, corporation, partnership, association, trust or other entity becomes the beneficial owner (as defined in Rule 13(d)(3) promulgated under the Exchange Act), directly or indirectly, of securities of the Company representing 30% or more
of the voting power of the Company then outstanding; 

  

	 	(2)	the individuals who, as of the date of this Agreement, are members of the Board of Directors of the Company (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board
(provided, however, that if the election or nomination for election by the Company’s shareholders of any new director was approved by a vote of at least a majority of the Incumbent Board, such new director shall be considered to be a member of
the Incumbent Board); 

  

	 	(3)	the approval of the shareholders of the Company, and consummation, of (i) any consolidation, merger or statutory share exchange of the Company with any person in which the surviving entity would not have as its
directors at least 60% of the Incumbent Board and as a result of which those persons who were shareholders of the Company immediately prior to such transaction would not hold, immediately after such transaction, at least 60% of the voting power of
the Company then outstanding or the combined voting power of the surviving entity’s then outstanding voting securities; (ii) any sale, lease, exchange or other transfer in one transaction or series of related transactions substantially all
of the assets of the Company; or (iii) the adoption of any plan or proposal for the complete or partial liquidation or dissolution of the Company; or 

  

	 	(4)	a determination by a majority of the members of the Incumbent Board, in their sole and absolute discretion, that there has been a Change in Control of the Company. 

For purposes of this Section 3(c), “voting power” when used with reference to the Company shall mean the voting power of all classes and series
of capital stock of the Company now or hereafter authorized. 
 (d) Forfeiture. If Participant ceases to be employed by the Company or
an Affiliate of the Company for any reason. other than “retirement” as defined below or Participant’s death as specified in Section 3(c) hereof, prior to the vesting of the Restricted Stock Units pursuant to Section 3(b)
hereof, Participant’s rights to all of the unvested Restricted Stock Units shall be immediately and irrevocably forfeited, including the right to receive any Additional Restricted Stock Units. 

  
 3 

 For purposes of this Section 3, “retirement” shall mean the voluntary or involuntary termination
of Participant’s employment for any reason other than gross and willful misconduct, disability or death, after the Participant has completed at least ten years of service as an employee of the Company and/or an Affiliate of the Company, and has
attained age 55, so long as the Participant has at all times that Restricted Stock Units are outstanding under this Agreement complied with the terms of any applicable confidentiality, non-disclosure and/or non-competition agreement between the
Company and the Participant. In all other cases, any unvested Restricted Stock Units and Additional Restricted Stock Units shall terminate upon retirement. 

4. Restrictions on Transfer. The Restricted Stock Units shall not be transferable other than by will or by the laws of descent and distribution.
Notwithstanding the foregoing, Participant may, in the manner established by the Committee, designate a beneficiary or beneficiaries to exercise the rights of Participant and receive any property distributable with respect to the Restricted Stock
Units upon the death of Participant. Each right under this Agreement shall be exercisable during Participant’s lifetime only by Participant or, if permissible under applicable law, by Participant’s legal representative. The Restricted
Stock Units and any rights under this Agreement may not be sold, assigned, transferred, pledged, alienated, attached or otherwise encumbered and any purported sale, assignment, transfer, pledge, alienation, attachment or encumbrance shall be void
and unenforceable against the Company or any Affiliate. 
 5. Income Tax Matters. In order to comply with all applicable federal, foreign, state or
local income tax laws or regulations, the Company may take such action as it deems appropriate to ensure that all applicable federal, foreign, state or local payroll, withholding, income or other taxes, which are the sole and absolute responsibility
of Participant, are withheld or collected from Participant. Upon vesting of the Restricted Stock Units and the lapse of the restrictions with respect to the Restricted Stock Units under the terms of this Award Agreement, Participant shall be
obligated to pay any applicable withholding taxes arising from such vesting and lapse of restrictions. Unless the Company receives an irrevocable written instruction, addressed to the attention of the Secretary of the Company, from Participant prior
to the date that the Restricted Stock Units vest and the restrictions lapse, the Company shall automatically withhold as payment the number of shares of Common Stock, determined by the Fair Market Value on the applicable vesting date as set forth in
Section 3 and lapse of restrictions, required to pay the applicable withholding taxes (but only to the extent necessary to satisfy minimum statutory witholding requirements). The Company shall not be required to deliver any fractional share of
Common Stock but will pay, in lieu thereof, the Fair Market Value (as of the date the Restricted Stock Units vest and the restrictions lapse) of such fractional share. 

6. Securities Matters. No shares of Common Stock shall be issued pursuant to this Agreement prior to such time as counsel to the Company shall have
determined that the issuance of such shares will not violate any securities or other laws, rules or regulations. The Company shall not be required to deliver any shares of Common Stock until the requirements of any applicable securities or other
laws, rules or regulations (including the rules of any securities exchange) as may be determined by the Company to be applicable are satisfied. In addition, the grant of these Restricted Stock Units and/or the delivery of any shares of Common Stock
under this Agreement are subject to the Company’s Executive and Key Manager Compensation Clawback Policy and any other clawback policies the Company may adopt in the future to conform to the Dodd-Frank Wall Street Reform and Consumer Protection
Act of 2010 (or any other applicable law) and any applicable rules and regulations of the Securities and Exchange Commission. 

  
 4 

 7. Tax Consequences. Participant agrees that the Company does not have a duty to design or administer the
Plan or its other compensation programs in a manner that minimize the Participant’s tax liabilities. Participant will not make any claim against the Company, or any of its officers, directors, employees or Affiliates related to tax liabilities
arising from the Restricted Stock Units or the Participant’s other compensation. 
 8. Adjustments. In the event that the Committee shall
determine that any dividend or other distribution (whether in the form of cash, shares, other securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination,
repurchase or exchange of shares or other securities of the Company, issuance of warrants or other rights to purchase shares or other securities of the Company or other similar corporate transaction or event affects the Common Stock such that an
adjustment is necessary in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under this Agreement, then the Committee shall, in such manner as it may deem equitable, in its sole discretion,
adjust any or all of the number and type of shares subject to the Restricted Stock Units. 
 9. General Provisions. 

(a) Interpretations. This Agreement is subject in all respects to the terms of the Plan. Terms used herein which are defined in the Plan
shall have the respective meanings ascribed to such terms in the Plan, unless otherwise defined herein. In the event that any provision of this Agreement is inconsistent with the terms of the Plan, the terms of the Plan shall govern. Any question of
administration or interpretation arising under this Agreement shall be determined by the Committee, and such determination shall be final and conclusive upon all parties in interest. The rules of section 409A of the Internal Revenue Code shall apply
to this Agreement, and this Agreement shall be construed and administered accordingly. Notwithstanding the foregoing, neither the Company nor any of its officers, directors, agents or affiliates shall be obligated, directly or indirectly, to any
Participant or any other person for any taxes, penalties, interest or like amounts that may be imposed on the Participant or other person on account of any amounts under this Agreement or on account of any failure to comply with any section of the
Internal Revenue Code. 
 (b) No Right to Employment. The grant of the Restricted Stock Units shall not be construed as giving
Participant the right to be retained as an employee of the Company or any Affiliate. In addition, the Company or an Affiliate may at any time dismiss Participant from employment, free from any liability or any claim under this Agreement, unless
otherwise expressly provided in this Agreement or the Plan. 
 (c) Headings. Headings are given to the sections and subsections of
this Agreement solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of this Agreement or any provision hereof. 

(d) Severability. If any provision of this Agreement is or becomes or is deemed to be invalid, illegal or unenforceable in any
jurisdiction under any law deemed to be applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable law, or if it cannot be so construed or amended without, in the determination of the Committee,
materially altering the purpose or intent of this Agreement, such provision shall be stricken as to such jurisdiction or this Agreement, and the remainder of this Agreement shall remain in full force and effect. 

  
 5 

 (e) Governing Law. The internal law, and not the law of conflicts, of the State of
Minnesota will govern all questions concerning the validity, construction and effect of this Agreement. 
 IN WITNESS WHEREOF, the parties
hereto have caused this Agreement to be executed as of the date first set forth above. 
  

			
	H.B. FULLER COMPANY
		
	 By:
	 	  

	
	  

	Participant
	
	Date:                                   
                                         
                

  
 6EX-10.5

 Exhibit 10.5 

CEO FORM OF RESTRICTED STOCK UNIT AGREEMENT 

H.B. FULLER COMPANY 

RESTRICTED STOCK UNIT AWARD AGREEMENT 

(Under the H.B. Fuller Company 2013 Master Incentive Plan) 

THIS AGREEMENT, dated as of             , 20    , is
entered into between H.B. Fuller Company, a Minnesota corporation (the “Company”), and                     , an employee of the Company or
an affiliate of the Company (“Participant”). 
 WHEREAS, the Company, pursuant to the H.B. Fuller Company 2013 Master
Incentive Plan (the “Plan”), wishes to award to Participant Restricted Stock Units, representing the right to receive shares of common stock, par value $1.00 per share, of the Company (“Common Stock”), subject to certain
restrictions and on the terms and conditions contained in this Agreement and the Plan; 
 NOW, THEREFORE, in consideration of the
premises and agreements set forth herein, the parties hereto hereby agree as follows: 
 1.   Award of Restricted Stock Units. The Company,
effective as of the date of this Agreement, hereby grants to Participant an award of                      Restricted Stock Units, each Restricted
Stock Unit representing the right to receive one share of Common Stock on such date as set forth herein, plus an additional amount pursuant to Section 2(b) hereof, subject to the terms and conditions set forth in this Agreement. 

2.   Rights of Participant with Respect to the Restricted Stock Units. 

(a) No Shareholder Rights. The Restricted Stock Units granted pursuant to this Agreement 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, and the restrictions with respect to the
Restricted Stock Units lapse, in accordance with Section 3 hereof. 
 (b) Dividend Equivalents. As long as Participant holds
Restricted Stock Units granted pursuant to this Agreement, the Company shall credit to Participant, on each date that the Company pays a cash dividend to holders of Common Stock generally, an additional number of Restricted Stock Units
(“Additional Restricted Stock Units”) equal to the total number of whole Restricted Stock Units and Additional Restricted Stock Units previously credited to Participant under this Agreement multiplied by the dollar amount of the cash
dividend paid per share of Common Stock by the Company on such date, divided by the Fair Market Value of a share of Common Stock on such date. Any fractional Restricted Stock Unit resulting from such calculation shall be included in the Additional
Restricted Stock Units. A report showing the number of Additional Restricted Stock Units so credited shall be sent to Participant periodically, as determined by the Company. The Additional Restricted Stock Units so credited shall be subject to the
same terms and conditions as the Restricted Stock Units granted pursuant to this Agreement and the Additional Restricted Stock Units shall be forfeited in the event that the Restricted Stock Units with respect to which the dividend equivalents were
credited are forfeited. 

 (c) Issuance of Shares; Conversion of Restricted Stock Units. 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 3 hereof. Neither this Section 2(c) nor any action
taken pursuant to or in accordance with this Section 2(c) shall be construed to create a trust of any kind. After any Restricted Stock Units vest pursuant to Section 3 hereof, the Company shall promptly cause to be issued, in either
certificated or uncertificated form, shares of Common Stock registered in Participant’s name or in the name of Participant’s legal representatives, beneficiaries or heirs, as the case may be, in payment of such vested whole Restricted
Stock Units and any Additional Restricted Stock Units and shall cause such certificated or uncertificated shares to be delivered to Participant or Participant’s legal representatives, beneficiaries or heirs, as the case may be. The value of any
fractional Restricted Stock Unit shall be cancelled at the time certificated or uncertificated shares are delivered to Participant in payment of the Restricted Stock Units and any Additional Restricted Stock Units. 

3.   Vesting; Forfeiture. 
 (a)
Vesting. Subject to the terms and conditions of this Agreement, in the event that any one or more of the performance measures for the Participant set forth under the Company’s Short-Term Incentive Program are met (at the threshold level
or above) for the fiscal year ending             , 20     as determined by the Compensation Committee of the Board of Directors of the Company, the Restricted Stock
Units shall vest in full and the restrictions with respect to the Restricted Stock Units shall lapse if Participant remains continuously employed by the Company or an Affiliate of the Company until the date of such vesting and lapse of restrictions,
as set forth below: 
  

					
	 Date
	  	Percentage of Restricted Stock Units to Vest	 
	             , 20    
	  	 	    	% 
	             , 20    
	  	 	    	% 
	             , 20    
	  	 	    	% 
	             , 20    
	  	 	    	% 
	             , 20    
	  	 	    	% 

 (b) Early Vesting. Notwithstanding the vesting provision contained in Section 3(a) above, but
subject to the other terms and conditions set forth herein, upon the occurrence of a “Change in Control” (as defined below) or in the event of Participant’s death or permanent disability (within the meaning of Section 22(e)(3) of
the Internal Revenue Code of 1986, as amended) Participant or Participant’s legal representatives, beneficiaries or heirs, as the case may be, shall become immediately vested in all of the Restricted Stock Units, and the restrictions with
respect to the Restricted Stock Units shall lapse, as of the date of such Change in Control, death or permanent disability. 
 (c) For the
purposes of this Agreement, a “Change in Control” shall be deemed to have occurred upon any of the following events: 
  

	 	(1)	a public announcement (which, for purposes hereof, shall include, without limitation, a report filed pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) that
any individual, corporation, partnership, association, trust or other entity becomes the beneficial owner (as defined in Rule 13(d)(3) promulgated under the Exchange Act), directly or indirectly, of securities of the Company representing 30% or more
of the voting power of the Company then outstanding; 

  
 2 

	 	(2)	the individuals who, as of the date of this Agreement, are members of the Board of Directors of the Company (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board
(provided, however, that if the election or nomination for election by the Company’s shareholders of any new director was approved by a vote of at least a majority of the Incumbent Board, such new director shall be considered to be a member of
the Incumbent Board); 

  

	 	(3)	the approval of the shareholders of the Company, and consummation, of (i) any consolidation, merger or statutory share exchange of the Company with any person in which the surviving entity would not have as its
directors at least 60% of the Incumbent Board and as a result of which those persons who were shareholders of the Company immediately prior to such transaction would not hold, immediately after such transaction, at least 60% of the voting power of
the Company then outstanding or the combined voting power of the surviving entity’s then outstanding voting securities; (ii) any sale, lease, exchange or other transfer in one transaction or series of related transactions substantially all
of the assets of the Company; or (iii) the adoption of any plan or proposal for the complete or partial liquidation or dissolution of the Company; or 

  

	 	(4)	a determination by a majority of the members of the Incumbent Board, in their sole and absolute discretion, that there has been a Change in Control of the Company. 

For purposes of this Section 3(c), “voting power” when used with reference to the Company shall mean the voting power of all classes and series
of capital stock of the Company now or hereafter authorized. 
 (d) Forfeiture. In the event that (i) none of the performance measures
for the Participant set forth under Section 3(a) hereof are met for the fiscal year ending 20    ; or (ii) Participant ceases to be employed by the Company or an Affiliate of the Company for any reason other than those
reasons specified in Section 3(b) hereof prior to the vesting of the Restricted Stock Units pursuant to Section 3(a) hereof, Participant’s rights to all of the unvested Restricted Stock Units shall be immediately and irrevocably
forfeited, including the right to receive any Additional Restricted Stock Units. 
 4.   Restrictions on Transfer. The Restricted Stock
Units shall not be transferable other than by will or by the laws of descent and distribution. Notwithstanding the foregoing, Participant may, in the manner established by the Committee, designate a beneficiary or beneficiaries to exercise the
rights of Participant and receive any property distributable with respect to the Restricted Stock Units upon the death of Participant. Each right under this Agreement shall be exercisable during Participant’s lifetime only by Participant or, if
permissible under applicable 

  
 3 

 
law, by Participant’s legal representative. The Restricted Stock Units and any rights under this Agreement may not be sold, assigned, transferred, pledged, alienated, attached or otherwise
encumbered and any purported sale, assignment, transfer, pledge, alienation, attachment or encumbrance shall be void and unenforceable against the Company or any Affiliate. 

5.   Income Tax Matters. In order to comply with all applicable federal, foreign, state or local income tax laws or regulations, the Company
may take such action as it deems appropriate to ensure that all applicable federal, foreign, state or local payroll, withholding, income or other taxes, which are the sole and absolute responsibility of Participant, are withheld or collected from
Participant. Upon vesting of the Restricted Stock Units and the lapse of the restrictions with respect to the Restricted Stock Units under the terms of this Award Agreement, Participant shall be obligated to pay any applicable withholding taxes
arising from such vesting and lapse of restrictions. Unless the Company receives an irrevocable written instruction, addressed to the attention of the Secretary of the Company, from Participant prior to the date that the Restricted Stock Units vest
and the restrictions lapse, the Company shall automatically withhold as payment the number of shares of Common Stock, determined by the Fair Market Value on the applicable vesting date as set forth in Section 3 and lapse of restrictions,
required to pay the applicable withholding taxes (but only to the extent necessary to satisfy minimum statutory withholding requirements). The Company shall not be required to deliver any fractional share of Common Stock but will pay, in lieu
thereof, the Fair Market Value (as of the date the Restricted Stock Units vest and the restrictions lapse) of such fractional share. 
 6.  
Securities Matters. No shares of Common Stock shall be issued pursuant to this Agreement prior to such time as counsel to the Company shall have determined that the issuance of such shares will not violate any securities or other laws, rules
or regulations. The Company shall not be required to deliver any shares of Common Stock until the requirements of any applicable securities or other laws, rules or regulations (including the rules of any securities exchange) as may be determined by
the Company to be applicable are satisfied. In addition, the grant of these Restricted Stock Units and/or the delivery of any shares of Common Stock under this Agreement are subject to the Company’s Executive and Key Manager Compensation
Clawback Policy and any other clawback policies the Company may adopt in the future to conform to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (or any other applicable law) and any applicable rules and regulations of the
Securities and Exchange Commission.  
 7.   Adjustments. In the event that the Committee shall determine that any dividend or other
distribution (whether in the form of cash, shares, other securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase or exchange of shares or
other securities of the Company, issuance of warrants or other rights to purchase shares or other securities of the Company or other similar corporate transaction or event affects the Common Stock such that an adjustment is necessary to prevent
dilution or enlargement of the benefits or potential benefits intended to be made available under this Agreement, then the Committee shall, in such manner as it may deem equitable, in its sole discretion, adjust any or all of the number and type of
shares subject to the Restricted Stock Units. 
 8.   Tax Consequences. Participant agrees that the Company does not have a duty to design
or administer the Plan or its other compensation programs in a manner that minimize the Participant’s tax liabilities. Participant will not make any claim against the Company, or any of its officers, directors, employees or Affiliates related
to tax liabilities arising from the Restricted Stock Units or the Participant’s other compensation. 

  
 4 

 9.   General Provisions. 

(a) Interpretations. This Agreement is subject in all respects to the terms of the Plan. Terms used herein which are defined in the Plan
shall have the respective meanings ascribed to such terms in the Plan, unless otherwise defined herein. In the event that any provision of this Agreement is inconsistent with the terms of the Plan, the terms of the Plan shall govern. Any question of
administration or interpretation arising under this Agreement shall be determined by the Committee, and such determination shall be final and conclusive upon all parties in interest. 

(b) No Right to Employment. The grant of the Restricted Stock Units shall not be construed as giving Participant the right to be
retained as an employee of the Company or any Affiliate. In addition, the Company or an Affiliate may at any time dismiss Participant from employment, free from any liability or any claim under this Agreement, unless otherwise expressly provided in
this Agreement or the Plan. 
 (c) Headings. Headings are given to the sections and subsections of this Agreement solely as a
convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of this Agreement or any provision hereof. 

(d) Severability. If any provision of this Agreement is or becomes or is deemed to be invalid, illegal or unenforceable in any
jurisdiction under any law deemed to be applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable law, or if it cannot be so construed or amended without, in the determination of the Committee,
materially altering the purpose or intent of this Agreement, such provision shall be stricken as to such jurisdiction or this Agreement, and the remainder of this Agreement shall remain in full force and effect. 

(e) Governing Law. The internal law, and not the law of conflicts, of the State of Minnesota will govern all questions concerning the
validity, construction and effect of this Agreement. 
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as
of the date first set forth above. 
  

			
	 H.B. FULLER COMPANY

		
	 By:
	 	  

	
	 
	 Participant

		
	 Date:
	 	  

  
 5

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