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Exhibit 10.24
Performance Award AGREEMENT (Shares)

THIS PERFORMANCE AWARDS AGREEMENT (this “Agreement”) is made as of January 6, 2021 (the “Grant Date”), between Commercial Vehicle Group, Inc., a Delaware corporation (the “Company”), and Harold Bevis (“Grantee”).
WHEREAS, the Grantee is an employee of the Company; and
WHEREAS, the Company’s Compensation Committee (the “Committee”) has awarded to the Grantee 185,185 Performance Shares, subject to the terms and conditions of this Agreement and the Company’s Amended and Restated 2014 Equity Incentive Plan (the “Plan”)).
NOW, THEREFORE, pursuant to this Agreement and the Plan, the Company, shall issue the number of shares of its Common Stock, par value $.01 (“Common Stock”), of the Company in settlement of the Performance Shares that vests in accordance with and subject to the terms and conditions of this Agreement.  
1.Definitions. All capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to them in the Plan.
2.Nontransferability and Restrictions on Transfer of Shares. Neither the Performance Shares nor the right to receive any shares of Common Stock that may be issued upon settlement of the Performance Shares may be sold, assigned, transferred, conveyed, pledged, exchanged or otherwise encumbered or disposed of (each, a “Transfer”) by the Grantee, except to the Company, unless and until the Performance Shares vest and shares of Common Stock are issued in settlement of such Performance Shares as provided in Section 4 hereof.  Any purported encumbrance or disposition in violation of the provisions of this Section 2 shall be void AB INITIO, and the other party to any such purported transaction shall not obtain any rights to or interest in the Performance Shares.  Notwithstanding the foregoing, Grantee may not Transfer shares of Common Stock which are issued in settlement of the Performance Shares as provided in Section 4 hereof unless such shares of Common Stock are registered pursuant to the Securities Act of 1933 (the “Securities Act”), are sold under Rule 144 promulgated under the Securities Act or unless the Company, after consultation with counsel, and its counsel agree with Grantee that such Transfer is not required to be registered under the Securities Act. 
3.Vesting and Forfeiture.  Subject to acceleration of vesting pursuant to the terms of the Grantee’s employment agreement with the Company dated September 9, 2020 (the “Employment Agreement”), the Performance Shares are subject to both performance vesting conditions and service vesting conditions as follows. The 

Performance Shares will be subject to three performance periods (each a “Performance Period”). The first Performance Period will be from March 24, 2020 to March 23, 2021. The second Performance Period will be from March 24, 2020 to March 23, 2022. The third Performance Period will be from March 24, 2020 to March 23, 2023. The number of shares of Common Stock that may be issued to the Grantee in settlement of the Performance Shares (“Earned Shares”) for each Performance Period is the percentage (ranging from 0% to 200%) multiplied by one-third of the number of Performance Shares granted herein as determined in the table below based on the Company’s total shareholder return (“TSR”) during the applicable Performance Period relative to the TSR of the Company’s peer group identified in Exhibit 1 over the applicable Performance Period. If any member of the peer group files for bankruptcy, such member shall be moved to the bottom of the peer group. Additionally, if any member of the peer group ceases to have publicly traded common stock prior to the end of the applicable Performance Period or if in the discretion of the Compensation Committee a member of the peer group should be removed as a member of the peer group due to a merger, consolidation, split-up, or spin-off prior to the end of the applicable Performance Period, the Compensation Committee shall add a new member to the peer group that is similar to the member that is removed in order to maintain a minimum of fifteen companies in the peer group during every Performance Period.
						
	Company’s TSR Ranking Relative to Peer Group	Percentage of the Number Performance Shares
	Top Quartile	200%
	Second Quartile	100%
	Third Quartile	50%
	Bottom Quartile	0%

Thus, for avoidance of doubt, if the Company’s TSR ranking relative to its peer group during the applicable Performance Period is in the top quartile, the Earned Shares that may be issued to the Grantee (subject to satisfaction of the service vesting conditions) for that Performance Period will be 123,456 shares of Common Stock.
The Grantee will vest in the Earned Shares for each Performance Period on March 23, 2021, March 23, 2022 and March 23, 2023 (each a “Vesting Date”), provided that the Grantee remain in continuous service as an employee or director of the Company through the applicable Vesting Date. Except as provided herein, if the Grantee ceases to be an employee or director of the Company prior to any Vesting Date, the remaining unvested Performance Shares shall be immediately forfeited.   Notwithstanding the foregoing, the Grantee will vest in the remaining portion of the Performance Shares (determined assuming maximum performance (200%) for any Performance Period not yet completed) upon the Grantee’s termination of employment due to (i) the Grantee’s death, Disability, Retirement or resignation for Good Reason 
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(each as defined in the Employment Agreement) or (ii) by the Company without Cause (as defined in the Employment Agreement). 
Notwithstanding the provisions of Section 3 above, in connection with a Change in Control, the provisions set forth in Section 13 of the Plan shall govern with respect to the acceleration of the vesting of the Performance Shares.
4.Settlement.  On or as soon as practicable after each Vesting Date but no later than the 15th day of the third month following the end of the year that includes the Vesting Date, the Company shall issue to the Grantee the Earned Shares of Common Stock that vest as of such Vesting Date.
5.Compliance with Law. The Company shall make reasonable efforts to comply with all applicable federal and state securities laws, provided, however, notwithstanding any other provision of this Agreement, the Company shall not be obligated to issue any shares of Common Stock pursuant to this Agreement if such issuance or release would result in a violation of any such law.
6.Withholding Taxes. If the Company shall be required to withhold any federal, state, local or foreign tax in connection with any issuance or vesting of Restricted Shares or other securities pursuant to this Agreement, including any employment taxes (collectively, the “Tax Withholding Obligation”), and the amounts available to the Company for such withholding are insufficient, the Grantee shall pay the tax or make provisions that are satisfactory to the Company for the payment thereof.  Unless Grantee elects to satisfy the Tax Withholding Obligation by an alternative means that is then permitted by the Committee, Grantee’s acceptance of this Agreement constitutes Grantee’s instruction and authorization to the Company to withhold on Grantee’s behalf the number of shares of Common Stock from those shares issuable to Grantee under this Agreement as the Company determines to be sufficient to satisfy the Tax Withholding Obligation as and when any such Tax Withholding Obligation becomes due. The shares of Common Stock so surrendered by the Grantee shall be credited against any such withholding obligation at the market value (determined with reference to the then current price of the Company’s Common Stock as quoted on The Nasdaq Global Select Market) as of the date on which shares of Common Stock are issued in settlement of the Performance Shares.
7.Conformity with Plan.  The Agreement and the shares of Common Stock issuable pursuant to this Agreement are intended to conform in all respects with, and are subject to all applicable provisions of, the Plan (which is incorporated herein by reference).  Inconsistencies between this Agreement and the Plan shall be resolved in accordance with the terms of this Agreement.  By executing this Agreement, the Grantee acknowledges and agrees to be bound by all of the terms of this Agreement and the Plan.
8.Amendments. The provisions of this Agreement may be amended and waived only with the prior written consent of the Company and the Grantee.
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9.Severability. In the event that one or more of the provisions of this Agreement shall be invalidated for any reason by a court of competent jurisdiction, any provision so invalidated shall be deemed to be separable from the other provisions hereof, and the remaining provisions hereof shall continue to be valid and fully enforceable.
10.Successors and Assigns. The provisions of this Agreement shall inure to the benefit of, and be binding upon, the successors, administrators, heirs, legal representatives and assigns of the Grantee and the successors and assigns of the Company.
11.Notices. Any notice to the Company provided for herein shall be in writing to the attention of the Secretary of the Company at Commercial Vehicle Group, Inc., 7800 Walton Parkway, New Albany, Ohio 43054, and any notice to the Grantee shall be addressed to the Grantee at his address currently on file with the Company.  Except as otherwise provided herein, any written notice shall be deemed to be duly given if and when hand delivered, or five business days after having been mailed by United States registered or certified mail, return receipt requested, postage prepaid, or three business days after having been sent by a nationally recognized overnight courier service, addressed as aforesaid.  Any party may change the address to which notices are to be given hereunder by written notice to the other party as herein specified, except that notices of changes of address shall be effective only upon receipt.
12.Governing Law. The laws of the State of Delaware, without giving effect to the principles of conflict of laws thereof, shall govern the interpretation, performance and enforcement of this Agreement.
* * * * *
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        IN WITNESS WHEREOF, this Agreement is effective as of the date set forth above.

COMMERCIAL VEHICLE GROUP, INC.

By:    /s/ Laura Macias                
Name:  Laura L. Macias 
Title  __Chief Human Resources Officer

ACKNOWLEDGED AND AGREED:

/s/ Harold Bevis                

Grantee
EXHIBIT 1

									
	Peer Group Members for any Performance Period between March 24, 2020 to March 23, 2023
	Company	 	TSR
	Commercial Vehicle Group	CVGI	 
	Altra Industrial Motion Corp	AIMC	 
	Modine Manufacturing	MOD	 
	Spartan Motors Inc. (aka:  The Shyf Group)	SHYF	 
	ASTEC Industries Inc.	ASTE	 
	LCI Industries Inc.	LCII	 
	Freightcar America Inc.	RAIL	 
	EnPro Industries	NPO	 
	Dorman Products Inc.	DORM	 
	Gentherm Inc.	THRM	 
	Stoneridge Inc.	SRI	 
	Columbus Mckinnon Corp.	CMCO	 
	Standard Motor Products Inc.	SMP	 
	L.B. Foster Company	FSTR	 
	Federal Signal Corp.	FSS	 
	Shiloh Industries Inc.	SHLO	 
	American Railcar Industries Inc.	ARII	ACQUIRED
	Supreme Industries	STS	ACQUIRED

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Exhibit 10.25
RESTRICTED Stock AGREEMENT

THIS RESTRICTED STOCK AGREEMENT (this “Agreement”) is made as of December 31, 2020, between Commercial Vehicle Group, Inc., a Delaware corporation (the “Company”), and Harold Bevis (“Grantee”).
WHEREAS, the Grantee is an employee of the Company; and
WHEREAS, the grant of the shares of restricted stock (as governed by the Company’s 2020 Equity Incentive Plan (the “Plan”)) to the Grantee described herein has been approved by the Company’s Compensation Committee (the “Committee”).
NOW, THEREFORE, pursuant to the Plan, the Company, upon the terms and conditions set forth herein, hereby grants to the Grantee 86,009 restricted shares of Common Stock, par value $.01 (“Common Stock”), of the Company (the “Restricted Shares”) effective as of the date hereof (the “Date of Grant”), and subject to the terms and conditions of the Plan and the terms and conditions of this Agreement.
1.Definitions. All capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to them in the Plan.
2.Issuance of Shares. In consideration of the Grantee’s service as an employee of the Company, the Restricted Shares shall be issued to the Grantee, and, upon payment to the Company by the Grantee of the aggregate par value thereof, shall be fully paid and non-assessable and shall be represented by a certificate or certificates issued in the name of the Grantee and endorsed with an appropriate legend referring to the restrictions hereinafter set forth.
3.Restrictions on Transfer of Shares. The Restricted Shares may not be sold, assigned, transferred, conveyed, pledged, exchanged or otherwise encumbered or disposed of (each, a “Transfer”) by the Grantee, except to the Company, unless and until they have become nonforfeitable as provided in Section 4 hereof.  Any purported encumbrance or disposition in violation of the provisions of this Section 2 shall be void AB INITIO, and the other party to any such purported transaction shall not obtain any rights to or interest in the Restricted Shares.  As and when permitted by the Plan, the Committee may in its sole discretion waive the restrictions on transferability with respect to all or a portion of the Restricted Shares.  Notwithstanding the foregoing, Grantee may not Transfer Restricted Shares which have become nonforfeitable as provided in Section 4 hereof unless such Restricted Shares are registered pursuant to the Securities Act of 1933 (the “Securities Act”), are sold under Rule 144 promulgated under the Securities Act or unless the Company, after consultation with counsel, and its 

counsel agree with Grantee that such Transfer is not required to be registered under the Securities Act. 
4.Vesting of Shares.
(a)Subject to the terms of the Grantee’s employment agreement with the Company dated September 9, 2020 (the “Employment Agreement”) and subject to paragraph Section 5 hereof, the Restricted Shares shall vest and become nonforfeitable if the Grantee remains an employee of the Company through the vesting dates set forth below with respect to the percentage of Restricted Shares (rounded to the nearest whole share) set forth next to such date:
						
	

Vesting Date
	Percentage of Restricted Shares Vesting on such Vesting Date
	December 31, 2021	331⁄3%
	December 31, 2022	331⁄3%
	December 31, 2023	331⁄3%

(b)Notwithstanding the provisions of Section 4(a) above, in connection with a Change in Control, the provisions set forth in Section 13 of the Plan shall govern with respect to the acceleration of the vesting of the Restricted Shares.
(c)Notwithstanding the provisions of Section 4(a) above, the Committee may, in its sole discretion, vest or accelerate the vesting of the Restricted Shares at any time.
5.Forfeiture of Shares.  If the Grantee ceases to be an employee or director of the Company due to Grantee’s death, Disability, Retirement or resignation for Good Reason (each as defined in the Employment Agreement) or a termination by the Company without Cause (as defined in the Employment Agreement) during any period of restriction, any non-vested Restricted Shares shall immediately vest and all restrictions on the Restricted Shares shall lapse and certificate(s) representing such Restricted Shares shall be delivered by the Company reasonably promptly upon a request by the Grantee.  If the Grantee ceases to be an employee of the Company for any other reason, any non-vested Restricted Shares shall be forfeited by the Grantee and the certificate(s) representing the non-vested portion of the Restricted Shares so forfeited shall be canceled.
6.Dividend, Voting and Other Rights.  Except as otherwise provided in this Agreement, from and after the Date of Grant, the Grantee shall have all of the rights of a stockholder with respect to the Restricted Shares, including the right to vote the Restricted Shares and receive any dividends that may be paid thereto, provided, however, that any additional Common Stock or other securities that the Grantee may become entitled to receive pursuant to a stock dividend, stock split, recapitalization, combination of shares, merger, consolidation, separation or reorganization or any other 
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change in the capital structure of the Company shall be subject to the same risk of forfeiture, certificate delivery provisions and restrictions on transfer as the forfeitable Restricted Shares in respect of which they are issued or transferred and shall become Restricted Shares for the purposes of this Agreement, and provided further that, any dividend paid with respect to unvested Restricted Shares for which an election under Section 83(b) of the Code has not been made (i) constitutes compensation income subject to all applicable tax withholding and (ii) shall be paid on or about the Vesting Date on which the underlying Restricted Shares vest, but in any event not later than the fifteenth (15th) day of the third month of the calendar year following the calendar year of such Vesting Date.
7.Retention of Stock Certificate(s) by the Company. The certificate(s) representing the Restricted Shares shall be held in custody by the Company, together with a stock power in the form of Exhibit A hereto which shall be endorsed in blank by the Grantee and delivered to the Company within 10 days of the date hereof, until such shares have become nonforfeitable in accordance with Section 4.  
8.Compliance with Law. The Company shall make reasonable efforts to comply with all applicable federal and state securities laws, provided, however, notwithstanding any other provision of this Agreement, the Company shall not be obligated to issue or release from restrictions on transfer any Restricted Shares pursuant to this Agreement if such issuance or release would result in a violation of any such law.
9.Withholding Taxes. If the Company shall be required to withhold any federal, state, local or foreign tax in connection with any issuance or vesting of Restricted Shares or other securities pursuant to this Agreement, including any employment taxes (collectively, the “Tax Withholding Obligation”), and the amounts available to the Company for such withholding are insufficient, the Grantee shall pay the tax or make provisions that are satisfactory to the Company for the payment thereof.  Unless Grantee elects to satisfy the Tax Withholding Obligation by an alternative means that is then permitted by the Committee, Grantee’s acceptance of this Agreement constitutes Grantee’s instruction and authorization to the Company to withhold on Grantee’s behalf the number of Restricted Shares from those shares issuable to Grantee under this Agreement as the Company determines to be sufficient to satisfy the Tax Withholding Obligation as and when any such Tax Withholding Obligation becomes due. Restricted Shares so surrendered by the Grantee shall be credited against any such withholding obligation at the market value (determined with reference to the then current price of the Company’s Common Stock as quoted on The Nasdaq Global Select Market) per share of such Restricted Shares on the date of such surrender.
10.Conformity with Plan.  The Agreement and the Restricted Shares granted pursuant hereto are intended to conform in all respects with, and are subject to all applicable provisions of, the Plan (which is incorporated herein by reference).  Inconsistencies between this Agreement and the Plan shall be resolved in accordance 
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with the terms of this Agreement.  By executing this Agreement, the Grantee acknowledges and agrees to be bound by all of the terms of this Agreement and the Plan.
11.Amendments. The provisions of this Agreement may be amended and waived only with the prior written consent of the Company and the Grantee.
12.Severability. In the event that one or more of the provisions of this Agreement shall be invalidated for any reason by a court of competent jurisdiction, any provision so invalidated shall be deemed to be separable from the other provisions hereof, and the remaining provisions hereof shall continue to be valid and fully enforceable.
13.Successors and Assigns. The provisions of this Agreement shall inure to the benefit of, and be binding upon, the successors, administrators, heirs, legal representatives and assigns of the Grantee and the successors and assigns of the Company.
14.Notices. Any notice to the Company provided for herein shall be in writing to the attention of the Secretary of the Company at Commercial Vehicle Group, Inc., 7800 Walton Parkway, New Albany, Ohio 43054, and any notice to the Grantee shall be addressed to the Grantee at his address currently on file with the Company.  Except as otherwise provided herein, any written notice shall be deemed to be duly given if and when hand delivered, or five business days after having been mailed by United States registered or certified mail, return receipt requested, postage prepaid, or three business days after having been sent by a nationally recognized overnight courier service, addressed as aforesaid.  Any party may change the address to which notices are to be given hereunder by written notice to the other party as herein specified, except that notices of changes of address shall be effective only upon receipt.
15.Governing Law. The laws of the State of Delaware, without giving effect to the principles of conflict of laws thereof, shall govern the interpretation, performance and enforcement of this Agreement.
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        IN WITNESS WHEREOF, this Agreement is effective as of the date set forth above.

COMMERCIAL VEHICLE GROUP, INC.

By:    /s/ Laura Macias                
Name:  Laura L. Macias 
Title  __Chief Human Resources Officer

ACKNOWLEDGED AND AGREED:

/s/ Harold Bevis            

Grantee
EXHIBIT A
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Form OF ASSIGNMENT SEPARATE FROM CERTIFICATE
FOR VALUE RECEIVED, ___________________ hereby sells, assigns and transfers unto _________________________________, ____ shares of the Common Stock, par value $0.01 per share, of Commercial Vehicle Group, Inc., a Delaware corporation (the “Company”) standing in its name on the books of said Company represented by Certificate Number ____, and does hereby irrevocably constitute and appoint ________________ as attorney to transfer the said stock on the books of the Company with full power of substitution in the premises.

						
	Date:  ___________________	    
Holder

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