Document:

EX-10.1

 Exhibit 10.1 

 

							
	 

  
	 	 RESTRICTED STOCK AGREEMENT

	
GRANTED TO
	 	      GRANT DATE      	  	  

NUMBER OF
 SHARES OF RESTRICTED
STOCK
	 	  

EMPLOYEE

      IDENTIFICATION      

NUMBER

	 	 	 	 
	 [Name]

 
 [Street Address]

 
 [City, State Zip Code]
	 	mm/dd/yyyy	  	xxxx	 	[EID]

  

	1.	 This Grant. Apogee Enterprises, Inc., a Minnesota corporation (the “Company”),
hereby grants to the individual named above (the “Employee”), as of the above grant date and subject to the terms and conditions set forth in this restricted stock agreement (this “Agreement”) and in the Apogee
Enterprises, Inc. 2019 Stock Incentive Plan, as amended from time to time (the “Plan”), the number of shares of restricted stock set forth above (the “Shares of Restricted Stock”). Capitalized terms used in this
Agreement which are not defined herein shall have the meanings given to such terms in the Plan. 

  

	2.	 Vesting and Forfeiture. Except as provided below, the Shares of Restricted Stock shall vest
as follows: 

  

									
	 	  	Vesting Date	  	 	  	 Number of

Shares Vested
	  	 
		  	
            , 20 
   
	  		  	        	  	
	     
	  	
            , 20 
   
	  		  	        	  	    
		  	
            , 20 
   
	  	     
	  	        	  	
		  	
            , 20 
   
	  		  	        	  	

 Termination of Employment. Upon the Employee’s Termination of Employment, any remaining unvested
Shares of Restricted Stock shall cease vesting immediately, and shall be irrevocably forfeited on the 30th day following the Employee’s Termination of Employment, unless vesting is accelerated as provided below. 

Retirement or Involuntary Termination Without Cause. In the event the Employee incurs an involuntary Termination of Employment by the
Company without Cause, or a voluntary Termination of Employment by reason of the Employee’s Retirement, the Committee reserves the right, exercisable by the Committee prior to or within 30 days following the date of the Employee’s
Termination of Employment, to cause vesting of the remaining unvested Shares of Restricted Stock to be accelerated, in whole or in part, as of the date of such Termination of Employment. 

Disability or Death. In the event the Employee incurs a Termination of Employment by reason of the Employee’s Disability or death,
any remaining unvested Shares of Restricted Stock shall vest as of the date of such Disability or death. 
 Change in Control. In the
event of a Change in Control of the Company and the Employee simultaneously or subsequently incurs a Termination of Employment by the Company without Cause, or by the Employee for Good Reason, any remaining unvested Shares of Restricted Stock shall
vest as of the date of such Termination of Employment. 
 The terms “Cause,” “Good Reason,” and “Termination of
Employment” are defined in the attached Exhibit A. 
  

	3.	 Rights as Shareholder and Restrictions During the Vesting Period. Except as provided below, upon
issuance of the Shares of Restricted Stock and prior to vesting, the Employee shall have all of the rights of a shareholder with respect to the Shares of Restricted Stock, including the right to vote the Shares of Restricted Stock, unless and until
the Employee forfeits the Shares of Restricted Stock as provided in Section 2. Notwithstanding the foregoing, during the vesting period, the Shares of Restricted Stock shall be subject to the following restrictions: 

 

	 	●	 	 The Company will issue the Shares of Restricted Stock in the Employee’s name and may, at its option, issue
the Shares of Restricted Stock by book-entry registration or issuance of a stock certificate or 

	 	 
certificates, which certificate or certificates shall be held by the Company. The Shares of Restricted Stock shall be restricted from transfer and shall be subject to an appropriate stop-transfer
order. If any certificate is issued, the certificate shall bear an appropriate legend referring to the restrictions applicable to the Shares of Restricted Stock. If any certificate is issued, the Employee shall be required to execute and deliver to
the Company a stock power relating to the Shares of Restricted Stock as a condition to the receipt of this award. 

  

	 	●	 	 Until the Shares of Restricted Stock vest as provided in Section 2, the Employee may not sell, transfer,
pledge or otherwise encumber unvested Shares of Restricted Stock. Neither the right to receive the Shares of Restricted Stock nor any interest under the Plan may be transferred by the Employee, and any attempted transfer shall be void.

  

	 	●	 	 The Employee shall accumulate an unvested right to dividend amounts on the Shares of Restricted Stock if cash
dividends are declared on the shares on or after the Grant Date. Each time a dividend is paid on Shares, the Employee shall accrue an amount equal to the amount of the dividend payable on the Employee’s Restricted Stock on the dividend record
date. The accrued amounts shall be subject to the same vesting, forfeiture and share delivery terms in Sections 2 and 3 herein as if they had been awarded on the Grant Date. The Employee shall not be entitled to amounts with respect to dividends
declared prior to the Grant Date. All dividend amounts accumulated with respect to forfeited Restricted Stock shall also be irrevocably forfeited. 

  

	 	●	 	 Any securities or property (other than cash) that may be issued with respect to the Shares of Restricted Stock as
a result of any stock dividend, stock split, business combination or other event shall be subject to the restrictions and other terms and conditions contained in this Agreement. 

 

	 	●	 	 The Employee shall not be entitled to receive any Shares of Restricted Stock prior to the completion of any
registration or qualification of the Shares of Restricted Stock under any federal or state law or governmental rule or regulation that the Company, in its sole discretion, determines to be necessary or advisable. In addition, all Shares of
Restricted Stock issued hereunder remain subject to all other restrictions provided in the Plan. 

  

	4.	 Income Taxes. The Employee is liable for any federal, state and local income or other taxes (“Tax-Related Items”) upon the receipt of the Shares of Restricted Stock, the lapse of restrictions relating to the Shares of Restricted Stock or the subsequent disposition of any of the Shares of
Restricted Stock, and the Employee acknowledges that he or she should consult with his or her own tax advisor regarding the applicable tax consequences. Upon vesting of the Shares of Restricted Stock, the Employee shall promptly pay to the Company
in cash, and/or the Company may withhold from the Employee’s compensation, all applicable taxes required by the Company to be withheld or collected upon such vesting. Absent a timely election of a withholding method, all withholding shall be
accomplished by withholding of Shares that would otherwise be released upon vesting having a Fair Market Value equal to the required withholding amounts for Tax-Related Items. 

 

	5.	 Effectiveness; Acknowledgment. This grant of Shares of Restricted Stock shall not be effective
unless and until the Employee signs the form of Acknowledgment below through DocuSign or such other electronic means prescribed by the Company. By signing the Acknowledgment, the Employee agrees to the terms and conditions of this Agreement and the
Plan and acknowledges receipt of a copy of the prospectus related to the Plan. 

  

							
	ACKNOWLEDGMENT:	  		 		 	APOGEE ENTERPRISES, INC.
				
	  
	  		 	By:	 	     

	EMPLOYEE’S SIGNATURE	  		 		 	[Name]
	  

    
	  	    	 		 	[Title]
	DATE	  		 		 	
		  		 	                                    
                                         
                               
		  		 		 	DATE                    

 EXHIBIT A 

DEFINED TERMS USED IN THE 

RESTRICTED STOCK AGREEMENT 
 The following
terms used in this Agreement have the following meanings: 
 “Cause” shall mean: 

(i)    the willful and continued failure by the Employee substantially to perform his or her duties and
obligations (other than any such failure resulting from his or her incapacity due to physical or mental illness or any such actual or anticipated failure resulting from the Employee’s termination for Good Reason), 

(ii)    the Employee’s conviction or plea bargain of any felony or gross misdemeanor involving moral
turpitude, fraud or misappropriation of funds, or 
 (iii)    the willful engaging by the Employee in
misconduct which causes substantial injury to the Company or its Affiliates, its other employees or the employees of its Affiliates or its clients or the clients of its Affiliates, whether monetarily or otherwise. For purposes of this paragraph, no
action or failure to act on the Employee’s part shall be considered “willful” unless done, or omitted to be done, by the Employee in bad faith and without reasonable belief that his or her action or omission was in the best interests
of the Company. 
 “Good Reason” shall mean the occurrence of any of the following events, in each case, after the Employee has provided
written notice to the Company within 30 days of the occurrence of such event and the Company has failed to cure, to the Employee’s reasonable satisfaction, the cause of such event within 30 days after the date of such written notice (and the
Employee terminates employment within 30 days of the expiration of such cure period), except for the occurrence of such an event in connection with the termination or reassignment of the Employee’s employment by the Company (or any Affiliate
then employing the Employee) for Cause, for Disability or for death: 
 (i)    the assignment to the
Employee of employment duties or responsibilities which are not at least of materially comparable responsibility and status as the employment duties and responsibilities held by the Employee immediately prior to a Change in Control, or any removal
of the Employee from or any failure to reelect or reappoint the Employee to any positions held by the Employee immediately prior to a Change in Control, except in connection with the termination of his or her employment for Disability, Retirement or
Cause, or as a result of the Employee’s death, or by the Employee other than for Good Reason; 

(ii)    a material reduction by the Company (or any Affiliate then employing the Employee) in the
Employee’s base salary as in effect immediately prior to a Change in Control or as the same may be increased from time to time during the term of this Agreement; or 

(iii)    the Company’s (or any Affiliate then employing the Employee) requiring the Employee to be
based anywhere other than within 50 miles of the Employee’s office location immediately prior to a Change in Control, except for requirements of temporary travel on the Company’s business to an extent substantially consistent with the
Employee’s business travel obligations immediately prior to a Change in Control. 
 “Termination of Employment” shall mean the
Employee’s termination of employment with the Company and all Affiliates. For avoidance of doubt, if the Employee is employed by an Affiliate that is sold or otherwise ceases to be an Affiliate of the Company, the Employee shall incur a
Termination of Employment.EX-10.2

 Exhibit 10.2 
  

							
	 

  
	 	PERFORMANCE AWARD AGREEMENT
	
GRANTED TO
	 	    GRANT DATE    	  	AMOUNT OF AWARD	 	  

EMPLOYEE

    IDENTIFICATION    

NUMBER

	 	 	 	 
	 [Name]

 
 [Street]

 
 [City], [State] [Postal]

 
	 	__/__/20__	  	 Target Cash Award: $
            
  

Target Unit Award:             Units
	 	[EID]

  

	1.	 The Grant. Apogee Enterprises, Inc, a Minnesota corporation (“the Company“),
hereby grants to the individual named above (the “Employee”) as of the above Grant Date the right to receive: (i) the target dollar value specified above (the “Target Cash Award”) and (ii) the target
number of units representing the right to receive shares of common stock of the Company specified above (the “Target Unit Award”) on the terms and conditions contained herein (together, the “Performance Award”). The
dollar amount that may actually become payable, and the number of shares that may actually become issuable, may be between 0% and 200% of the target values specified above, depending on the extent to which the threshold, target or maximum
performance levels of the performance goals are achieved. 

  

	2.	 This Agreement. This agreement, together with Exhibit A and Exhibit B (collectively, the
“Agreement”), sets forth the terms and conditions of the Performance Award. The portion of this Performance Award pertaining to the Target Unit Award is issued pursuant to the Apogee Enterprises, Inc. 2019 Stock Incentive Plan, as
amended from time to time (the “Plan”), and subject to its terms. 

  

	3.	 Performance Period. The “Performance Period” for purposes of determing the extent to
which amounts will be paid under this Performance Award shall be fiscal year 20__ through and including fiscal year 20__. 

  

	4.	 Performance Goals. The performance goals for purposes of determining the extent to which amounts will be
paid under this Performance Award are set forth in the attached Exhibit B. 

  

	5.	 Payment. Subject to the terms and conditions of this Agreement, the amount of cash to be paid (the
“Cash Payment”) and shares to be issued (the “Share Payment”) to the Employee pursuant to this Performance Award will be based on whether and to what extent the threshold, target or maximum performance levels of the
performance goals are achieved, as set forth in the attached Exhibit B and as determined by the Compensation Committee of the Company’s Board of Directors (the “Committee”) in its sole discretion. The Employee will not receive
a payment pursuant to this Performance Award unless one or more performance goals is achieved at or above the threshold level. The determination of the payment amount will occur as soon as practicable after the Committee determines, in its sole
discretion after the end of the Performance Period (or, in the case of a Change in Control (as defined in the Plan), after the Truncated Performance Period, as applicable), whether, and the extent to which, the performance goals have been achieved
(the “Determination Date”). As soon as administratively feasible following the Determination Date (but in no event later than 75 days following the end of the Performance Period), the Company shall pay to the Employee any Cash
Payment or Share Payment to which the Employee has become entitled. 

  

	6.	 Termination of Employment. In the event the Employee’s employment is terminated prior to the end of
the Performance Period, this Performance Award and any payment pursuant to this Agreement shall be immediately and irrevocably forfeited, unless the Employee’s employment is terminated under the circumstances described below.

 In the event the Employee’s employment is terminated prior to the end of the Performance Period by reason of
Retirement (as defined in the attached Exhibit A), Disability (as defined in the attached Exhibit A) or death, the Employee or the Employee’s estate, as applicable, shall be entitled to receive a pro-rata
portion (based on the amount of time elapsed between the beginning of the Performance Period and the date of termination) of the Cash Payment and Share Payment earned, if any, after the end of the Performance Period to the extent that the threshold,
target or maximum performance level of the performance goals is achieved, as set forth in the attached 

 
Exhibit B and as determined by the Committee in its sole discretion. In the event the Employee’s employment is terminated after the Performance Period by reason of Retirement, Disability or
death, the Employee or the Employee’s estate, as applicable, shall be entitled to receive the Cash Payment and Share Payment earned (if not yet paid to the Employee). Any payment to be paid to the Employee pursuant to this paragraph shall be
paid in accordance with paragraph 5 above. 
  

	7.	 Recoupment. Employee acknowledges, understands and agrees that, notwithstanding anything to the contrary
contained herein, any Cash Payment or Share Payment to which Employee is otherwise entitled (or which has been paid) is subject to forfeiture or recoupment, in whole or in part, at the direction of the Company’s Board of Directors (the
“Board”) if, in the judgment of the Board, events have occurred that are covered by the Company’s Clawback Policy (as it exists on the date hereof, and as it may be amended from time to time by the Board, the “Clawback
Policy”) and the Board further determines, in its sole discretion, that forfeiture or recoupment of all or part of the Cash Payment or Share Payment is appropriate under all of the circumstances considered by the Board. A copy of Clawback
Policy may be obtained from the General Counsel upon the Employee’s request. 

  

	8.	 Change in Control. If a Change in Control of the Company occurs during the Performance Period, then the
Performance Period shall be deemed to end on the date of the Change in Control (the shortened Performance Period is referred to herein as the “Truncated Performance Period”). Payment amounts will be based on the extent of
achievement of the threshold, target or maximum performance level of the performance goals, as adjusted for the Truncated Performance Period and determined by the Committee in its sole discretion. The Cash Payment and Share Payment to be paid to the
Employee pursuant to this paragraph shall be paid in full in a single lump sum payment as soon as administratively feasible following the Determination Date (but in no event later than 60 days following the end of the Truncated Performance Period).

 If a Change in Control of the Company occurs after the Performance Period, then the Employee shall be entitled to
receive the Cash Payment and Share Payment earned (if not yet paid to the Employee) as soon as administratively feasible following the date of the Change in Control (but in no event later than 60 days following the date of the Change in Control).

  

	9.	 Restrictions on Transfer. Neither this Performance Award, nor any right with respect to this Performance
Award under this Agreement, may be sold, assigned, transferred or pledged, other than by will or the laws of descent and distribution, and any such attempted transfer shall be void. 

 

	10.	 Rights as Shareholder and Restrictions. Prior to the issuance of shares of common stock of the Company
hereunder, the Employee shall not have ownership or rights of ownership of any shares underlying the Target Unit Award. However, the Employee shall accumulate an unvested right to dividend amounts on the Target Unit Award if cash dividends are
declared on the underlying shares on or after the Grant Date. Each time a dividend is paid on shares, the Employee shall accrue an amount equal to the amount of the dividend payable on the number of units specified in the Employee’s Target Unit
Award on the dividend record date (a “Dividend Equivalent”). The accrued Dividend Equivalent amounts shall be subject to the same vesting, forfeiture and payment terms in Sections 5 through 8 herein as if they had been awarded on
the Grant Date. If the number of units actually vested differs from the Target Unit Award, the accrued Dividend Equivalent amount shall be trued up at payment if necessary to reflect the actual number of units vested. In all events, (i) the
Employee shall not be entitled to Dividend Equivalents with respect to dividends declared prior to the Grant Date; and (ii) all Dividend Equivalent amounts accumulated with respect to units that do not vest and become payable shall also be
irrevocably forfeited. 

  

	11.	 Income Taxes. The Employee is liable for any federal, state and local income or other taxes applicable
upon the grant of this Performance Award and the receipt of any payments pursuant to this Performance Award, and the Employee acknowledges that he or she should consult with his or her own tax advisor regarding the applicable tax consequences. The
Company will satisfy any applicable tax withholding obligations arising from any payment of this Performance Award by withholding a portion of the cash or shares otherwise to be delivered equal to the amount of such taxes. 

 

	12.	 Section 409A. Notwithstanding anything in this Agreement to the contrary, to the
extent that this Performance Award constitutes “deferred compensation” subject to Section 409A of the Internal Revenue Code (the “Code”), this Performance Award will not be payable or distributable upon a Change in
Control unless the Company determines in good faith that the Change in Control meets the definition of a change in ownership or effective control (or change in ownership of a substantial portion of assets) in Section 409A(a)(2)(A)(v) of the
Code and applicable guidance thereunder. 

  

	13.	 Effectiveness; Acknowledgment. This Performance Award shall not be effective unless and until the
Employee signs the form of Performance Award through DocuSign or such other electronic means prescribed by the 

	 	 
Company. By signing the Performance Award, the Employee agrees to the terms and conditions of this Agreement and the Plan and acknowledges receipt of a copy of the prospectus related to the Plan.

  

							
	ACKNOWLEDGMENT:	  		  		 	APOGEE ENTERPRISES, INC.
				
	  
	  		  	By:	 	     

	EMPLOYEE’S SIGNATURE	  		  		 	[Name]
	  

    
	  	    	  		 	[Title]
	DATE	  		  		 	
		  		  	                                    
                                         
                               
		  		  		 	DATE                    

 EXHIBIT A 

DEFINED TERMS USED IN THE 

PERFORMANCE AWARD AGREEMENT 
 The following
terms used in this Agreement have the following meanings: 
 “Affiliate” shall have the meaning ascribed to such term in Rule 12b-2 promulgated under the Securities Exchange Act of 1934, as amended. 
 “Disability” shall mean any
physical or mental condition which would qualify the Employee for a disability benefit under any long-term disability plan maintained by the Company or any Affiliate then employing the Employee. 

“Retirement” shall mean the Employee’s termination of his or her employment relationship with the Company under such circumstances
determined to constitute retirement by the Committee in its sole discretion. 

  
 A-1 

 EXHIBIT B 

PERFORMANCE GOALS UNDER THE 

PERFORMANCE AWARD AGREEMENT 

Performance Goals for Three-Year Performance Period 

(____________, 20__ – _____________, 20__) 
  

									
	 	 	 	 	 
	Performance Goal	 	    Weighting    	 	      Threshold      	 	        Target        	 	      Maximum      
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 Payment
Levels
	 	 	 	 	 	 	 	 

  

	 	●	 	 The amount earned by the Employee for performance between the threshold, target and maximum performance levels
will be linearly interpolated. 

  
 B-1

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