Document:

Exhibit 10.19

 

Hayward
Holdings, Inc.

2021
Cash Incentive Plan

 

1.            Defined
Terms

 

Exhibit A,
which is incorporated by reference, defines certain terms used in the Plan and sets forth operational rules related to those
terms.

 

2.            Purpose

 

The Plan has been established
to advance the interests of the Company by providing for the grant of cash-based incentive Awards to Participants that will attract,
retain, and reward such persons and incentivize them to attain key Company performance criteria and metrics.

 

3.            Administration

 

The Plan will be administered
by the Administrator. The Administrator has discretionary authority, subject only to the express provisions of the Plan, to administer
and interpret the Plan and any Award; to determine eligibility for and grant Awards; to adjust the performance criterion or criteria
applicable to Awards; to determine, modify or waive the terms and conditions of any Award; to prescribe forms, rules and procedures
relating to the Plan and Awards; and to otherwise do all things necessary or desirable to carry out the purposes of the Plan or
any Award. Determinations of the Administrator made with respect to the Plan or any Award are conclusive and bind all persons.

 

4.            Eligibility;
Participation

 

The Administrator may
select Participants from among executive officers and employees of the Company and its subsidiaries.

 

5.            Grant
of Awards

 

A Participant who is
granted an Award will be entitled to a payment, if any, in respect of the Award only if all conditions to payment have been satisfied
in accordance with the Plan and the terms of the Award. By accepting (or being deemed to have accepted) an Award, the Participant
agrees or will be deemed to have agreed to the terms and condition of the Award and the Plan. The Administrator will select the
Participants, if any, who receive Awards for each Performance Period and, for each Award, will establish the following:

 

(a)            the
Performance Criterion or Criteria applicable to the Award;

 

(b)           the
amount or amounts that will be payable (subject to adjustment in accordance with Section 6) if the performance criterion or
criteria are achieved in whole or in part; and

 

(c)            such
other terms and conditions as the Administrator determines with respect to the Award.

 

     

     

    

 

6.            Determination
of Performance; Amounts Payable under Awards

 

As soon as practicable
after the end of the applicable Performance Period, the Administrator will determine whether and to what extent, if at all, the
performance criterion or criteria applicable to each Award granted for such Performance Period have been satisfied. The Administrator
will then determine the amount payable, if any, under each Award. The Administrator may, in its sole discretion and with or without
specifying its reasons for doing so, after determining the amount that would otherwise be payable in respect of any Award, adjust
the actual payment, if any, to be made with respect to such Award. The Administrator may exercise the discretion described in the
immediately preceding sentence either in individual cases or in ways that affect more than one Participant. In each case, the Administrator’s
discretionary determination, which may affect different Awards differently, is conclusive and binds all persons.

 

7.            Payments
under Awards

 

The Administrator will
determine the payment dates for Awards under the Plan. Except as otherwise determined by the Administrator or set forth in an effective
individual employment or other agreement with a Participant:

 

(a)            all
payments under the Plan will be made, if at all, not later than March 15th of the calendar year immediately following
the calendar year in which the Performance Period ends; provided, however, that the Administrator may authorize
elective deferrals of any Award payments in accordance with the deferral rules of Section 409A;

 

(b)          payment
will not be made with respect to an Award unless the Participant has remained employed with the Company and its subsidiaries through
the date of payment; and

 

(c)         awards
under the Plan are intended to qualify for exemption from Section 409A of the Code and shall be construed and administered
accordingly.

 

8.            Tax
Withholding; Limitation on Liability

 

All
payments under the Plan will be reduced by all tax and other amounts required to be withheld with respect to the payment. Any
amounts withheld pursuant to this Section 8 will be treated as though such payment had been made directly to the Participant.

 

9.            Amendment
and Termination

 

The Administrator may
at any time or times amend the Plan or any outstanding Award for any purpose which may at the time be permitted by applicable law,
and may at any time terminate the Plan as to any future grants of Awards.

 

    -2-

     

    

 

10.          Recovery
of Compensation

 

The Administrator
may provide in any case that any outstanding Award and any amounts received in respect of any Award will be subject to forfeiture
and disgorgement to the Company, with interest and other related earnings, if the Participant to whom the Award was granted is
not in compliance with any provision of the Plan or any applicable Award, any non-competition, non-solicitation, no-hire, non-disparagement,
confidentiality, invention assignment or any other restrictive covenant by which he or she is bound. In addition, each Award will
be subject to any policy of the Company or any of its affiliates that provides for forfeiture, disgorgement or clawback with respect
to incentive compensation that includes Awards under the Plan and will be further subject to forfeiture and disgorgement to the
extent required by law or applicable stock exchange listing standards, including, without limitation, Section 10D of the
Securities Exchange Act of 1934, as amended. Each Participant, by accepting (or being deemed to have accepted) an Award under
the Plan, agrees or will be deemed to have agreed to the provisions of this Section 10 and any clawback, recoupment or similar
policy of the Company or any of its subsidiaries and further agrees (or will be deemed to have further agreed) to cooperate fully
with the Administrator to effectuate any forfeiture or disgorgement described in this Section 10. Neither the Administrator
nor the Company nor any other person, other than the Participant, will be responsible for any adverse tax or other consequences
to a Participant that may arise in connection with this Section 10.

 

11.          Miscellaneous

 

(a)           Waiver
of Jury Trial. By accepting or being deemed to have accepted an Award under the Plan,
each Participant waives (or will be deemed to have waived), to the maximum extent permitted under applicable law, any right to
a trial by jury in any action, proceeding or counterclaim concerning any rights under the Plan or any Award, or under any amendment,
waiver, consent, instrument, document or other agreement delivered or which in the future may be delivered in connection therewith,
and agrees (or will be deemed to have agreed) that any such action, proceedings or counterclaim will be tried before a court and
not before a jury. By accepting or being deemed to have accepted an Award under the Plan, each Participant certifies that no officer,
representative, or attorney of the Company has represented, expressly or otherwise, that the Company would not, in the event of
any action, proceeding, or counterclaim, seek to enforce the foregoing waivers. Notwithstanding anything to the contrary in the
Plan, nothing herein is to be construed as limiting the ability of the Company and a Participant to agree to submit any dispute
arising under the terms of the Plan or any Award to binding arbitration or as limiting the ability of the Company to require any
individual to agree to submit such disputes to binding arbitration as a condition of receiving an Award hereunder.

 

(b)           Limitation
of Liability. Notwithstanding anything to the contrary in the Plan or any Award,
neither the Company, nor any of its subsidiaries, nor the Administrator, nor any person acting on behalf of the Company, any
of its subsidiaries, or the Administrator, will be liable to any Participant or to any other person by reason of any
acceleration of income, any additional tax, or any penalty, interest or other liability asserted by reason of the failure of
an Award to satisfy the requirements of Section 409A or by reason of Section 4999 of the Code, or otherwise asserted with
respect to any Award.

 

(c)           Unfunded
Plan. The Company’s obligations under the Plan are unfunded, and no Participant
will have any right to specific assets of the Company in respect of any Award. Participants will be general unsecured creditors
of the Company with respect to any amounts due or payable under the Plan.

 

    -3-

     

    

 

(d)           Governing
Law. Except as otherwise provided by the express terms of an Award, the domestic substantive
laws of the State of New Jersey govern the provisions of the Plan and of Awards under the Plan and all claims or disputes arising
out of or based upon the Plan or any Award under the Plan or relating to the subject matter hereof or thereof, without giving effect
to any choice or conflict of laws provision or rule that would cause the application of the domestic substantive laws of any
other jurisdiction.

 

(e)          Jurisdiction.
By accepting (or being deemed to have accepted) an Award, each Participant agrees or will
be deemed to have agreed to (i) submit irrevocably and unconditionally to the jurisdiction of the federal and state courts
located within the geographic boundaries of the United States District Court for the District of New Jersey for the purpose of
any suit, action or other proceeding arising out of or based upon the Plan or any Award; (ii) not commence any suit, action
or other proceeding arising out of or based upon the Plan or any Award, except in the federal and state courts located within the
geographic boundaries of the United States District Court for the District of New Jersey; and (iii) waive, and not assert,
by way of motion as a defense or otherwise, in any such suit, action or proceeding, any claim that he or she is not subject personally
to the jurisdiction of the above-named courts, that his or her property is exempt or immune from attachment or execution, that
the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper
or that the Plan or any Award or the subject matter thereof may not be enforced in or by such court.

 

(f)            Other
Compensation Arrangements. The existence of the Plan or the grant of any Award will
not affect the right of the Company or any of its subsidiaries to grant any person bonuses or other compensation in addition to
Awards under the Plan.

 

(g)           Rights
Limited. Nothing in the Plan or any Award will be construed as giving any person the
right to be granted an Award or to continued employment or service with the Company or any of its subsidiaries. The loss of any
Award will not constitute an element of damages in the event of a termination of a Participant’s employment for any reason,
even if the termination is in violation of an obligation of the Company or any of its subsidiaries to the Participant.

 

(h)           Effective
Date. The Plan will be effective upon adoption of the Plan by the Administrator and
will supersede and replace the Company’s annual cash bonus program with respect to awards granted to eligible executive officers
and employees for fiscal years beginning after the date of adoption.

 

[The remainder of this page is
intentionally left blank.]

 

    -4-

     

    

 

Exhibit A

 

Definition of Terms

 

The following terms,
when used in the Plan, will have the meanings and be subject to the provisions set forth below:

 

“Administrator”:
 The Compensation Committee, except with respect to such matters that are not delegated to the Compensation Committee
by the Board (whether pursuant to committee charter or otherwise). The Compensation Committee (or the Board, with respect to such
matters over which it retains authority under the Plan or otherwise) may delegate (i) to one or more of its members (or one
or more other members of the Board) such of its duties, powers and responsibilities as it may determine; (ii) to one or more
officers of the Company the power to grant Awards to the extent permitted by applicable law; and (iii) to such employees or
other persons as it determines such ministerial tasks as it deems appropriate. For purposes of the Plan, the term “Administrator”
will include the Board, the Compensation Committee, and the person or persons delegated authority under the Plan to the extent
of such delegation, as applicable.

 

“Award”:
 A cash bonus award that is granted to a Participant with respect to a Performance Period. An Award opportunity may
be expressed as a percentage of the Participant’s base salary, as a fixed dollar amount, or in such other form determined
by the Administrator.

 

“Board”:
The Board of Directors of the Company.

 

“Code”:
The U.S. Internal Revenue Code of 1986, as from time to time amended and in effect, or any successor statute as from
time to time in effect.

 

“Company”:
Hayward Holdings, Inc., a Delaware corporation.

 

“Compensation
Committee”:  The Compensation Committee of the Board.

 

“Participant”:
 A person who is granted an Award under the Plan.

 

“Performance
Criteria”: Specified criteria, other than the mere continuation of employment or the mere passage of time, the
satisfaction of which is a condition for the grant, exercisability, vesting, or full enjoyment of an Award. A Performance Criterion
and any targets with respect thereto need not be based upon an increase, a positive or improved result, or avoidance of loss and
may be applied to a Participant individually, or to a business unit or division of the Company or to the Company as a whole. A
Performance Criterion may also be based on individual performance and/or subjective performance criteria. The Administrator may
provide that one or more of the Performance Criteria applicable to such Award will be adjusted in a manner to reflect events (for
example, but without limitation, acquisitions or dispositions) occurring during the Performance Period that affect the applicable
Performance Criterion or Criteria.

 

“Performance
Period”: A specified performance period, consisting of the Company’s fiscal year or such other period as
the Administrator determines.

 

“Plan”:
The Hayward Holdings, Inc. 2021 Cash Incentive Plan, as from time to time amended and in effect.

 

“Section 409A”:
 Section 409A of the Code and the regulations thereunder.

 

    A-1Exhibit 10.1

 

SiteOne Landscape
Supply, Inc.

 

Form of Performance
Stock Unit Agreement

 

This Performance Stock
Unit Agreement (this "Agreement") is made and entered into as of __________, 202_ (the "Grant Date")
by and between SiteOne Landscape Supply, Inc., a Delaware corporation (the "Company") and _____________________________
(the "Participant").

 

1.                  
Grant of Performance Share
Units. Effective as of the Grant Date, the Company hereby grants to Participant an Award of Performance Stock
Units (“PSUs”) in the amount of ______________________________PSUs (the “Target Award”),
each of which represents the right to receive one share of Company Common Stock (the “Share”) upon vesting of
such PSU, subject to and in accordance with the terms, conditions and restrictions set forth in the SiteOne Landscape Supply, Inc.
2020 Omnibus Equity Incentive Plan (as it may be amended from time to time, the “Plan”) and this Agreement.
The number of PSUs that Participant may earn hereunder shall range between zero to 200% of the Target Award and shall be determined
based on the level of achievement of the performance conditions set forth in Exhibit A attached hereto (the “Performance
Goals”) over the Performance Cycle (as defined in Section 2). In consideration of the receipt of this Award, Participant
agrees to be bound by the covenants set forth in Exhibit B governing Competitive Activity. Capitalized terms not otherwise
defined herein shall have the same meanings as in the Plan.

 

2.                  
Performance Cycle.
For purposes of this Agreement, the term "Performance Cycle" shall mean the period commencing on ___________________
and ending on ___________________.

 

3.                  
Performance Goals.

 

3.1 The number of PSUs
earned by Participant for the Performance Cycle shall be determined at the end of the Performance Cycle based on the level of achievement
of the Performance Goals in accordance with Exhibit A. All determinations of whether Performance Goals have been achieved,
the number of PSUs earned by Participant, and all other matters related to this Section 3.1 shall be made by the Administrator
in its sole discretion.

 

3.2 As soon as practicable
following completion of the Performance Cycle, but no later than May 31, 202_, the Administrator shall review and certify in writing
(a) whether, and to what extent, the Performance Goals for the Performance Cycle have been achieved, and (b) the number of PSUs
earned by Participant, if any, subject to satisfaction of the requirements of Section 4 (the “Determination Date”).
Such certification shall be final, conclusive and binding on Participant, and on all other persons, to the maximum extent permitted
by law.

 

4.                  
Vesting of PSUs.
The PSUs are subject to forfeiture until they vest. Except as otherwise provided in Sections 5 and 6, the PSUs shall vest and become
nonforfeitable on the last day of the Performance Period, subject to (a) the achievement of the minimum threshold Performance Goal
for payout set forth in Exhibit A, and (b) Participant's continuous employment (“Continuous Service”)
from the Grant Date through the last day of the Performance Period (the “Vesting Date”). The number of PSUs
that vest and become payable under this Agreement shall be determined by the Administrator based on the level of achievement of
the Performance Goals set forth in Exhibit A and shall be rounded down to the nearest whole PSU.

 

5.                  
Termination of Continuous
Service.

 

5.1 Except as
otherwise provided in Sections 5.2, 5.3, 5.4 and 6, if Participant's Continuous Service terminates for any reason at any time
before the Vesting Date, Participant's unvested PSUs shall be automatically forfeited upon such termination of Continuous
Service and neither the Company nor any Affiliate shall have any further obligations to Participant under this Agreement.

 

     

     

    

 

5.2 If Participant’s
Continuous Service is terminated by the Company without Cause (provided Participant has not engaged in any Competitive Activity),
Participant shall vest in the number of PSUs that would otherwise have vested (if any) based on actual performance level at the
end of the Performance Cycle, determined by multiplying such number of PSUs by a fraction, the numerator of which equals the number
of completed months that Participant was employed with the Company during the Performance Cycle and the denominator of which equals
36 months, provided, however, that the payout of such PSUs shall remain subject to all other terms and conditions
of this Agreement, including the payment date described in Section 7 and the opportunity to earn a greater or lesser number of
PSUs (subject to pro-ration as provided in this Section) as provided in Exhibit A.

 

5.3 If Participant's
Continuous Service terminates during the Performance Cycle as a result of Participant's death or Disability, Participant shall
vest on such date in a portion of the Target Award (based on target level performance), determined by multiplying the Target Award
by a fraction, the numerator of which equals the number of completed months that Participant was employed with the Company during
the Performance Cycle and the denominator of which equals 36 months, provided, however, the payout of such prorated
Target Award shall remain subject to all other terms and conditions of this Agreement, including the payment dates described in
Section 7.

 

5.4 In the event Participant’s
Continuous Service terminates due to Retirement and Participant has not violated any of the terms set forth in Exhibit B,
Participant shall vest in a pro-rated number of PSUs that would otherwise have vested (if any) based on actual performance level
at the end of the Performance Cycle determined based on the following schedule:

 

	Retirement Occurs During	Pro-Ration Factor
	Year 1 of Performance Cycle	33%
	Year 2 of Performance Cycle	67%
	Year 3 of Performance Cycle	100%

 

provided, however,
that such PSUs shall remain subject to all other terms and conditions of this Agreement, including the payment date described in
Section 7 and the opportunity to earn a greater or lesser number of PSUs (subject to pro-ration as provided in this Section) as
provided in Exhibit A.

 

As used in this Agreement:
“Retirement” means Participant’s voluntarily resignation (a) at or after attaining the age of 60, (b)
after providing at least 10 years of service to the Company as an Employee (or, if approved by the Administrator, as a Consultant
or Director), and (c) after providing Continuous Service for 6 or more months during the Performance Cycle.

 

6.              Effect
of a Change in Control. In the event of a Change in Control during the Performance Cycle, the PSUs subject
to this Agreement shall convert into one Restricted Stock Unit (the “Conversion Ratio”) and vest at the
end of the Performance Cycle as follows: (a) if the Change in Control occurs prior to the completion of 2-years of the
Performance Cycle, the Conversion Ratio shall be based on PSUs at target level performance, or (b) if the Change in Control
occurs after completion of 2-years of the Performance Cycle, the Conversion Ratio shall be based on PSUs at
performance-to-date level if reasonably measurable or target performance level if performance-to-date level shall not be
reasonably measurable, as determined in the sole discretion of the Administrator. Provided, however, such
Restricted Stock Units shall vest immediately if the (x) the continuing entity fails to provide an Alternative Award at the
time of the Change in Control, or (y) the Company terminates Participant’s employment without Cause or Participant
terminates Participant’s employment for Good Reason within the 12-month period following the Change in Control; provided, further,
that the payout of such Restricted Stock Units shall remain subject to all other terms and conditions of this Agreement,
including the payment date described in Section 7.

 

     

     

    

 

7.                  
Payment of PSUs.
Payment in respect of the PSUs earned for the Performance Cycle shall be made in Shares and shall be issued to Participant as soon
as practicable following the end of the Performance Cycle, but no later than May 31, 2023. The Company shall (a) issue and deliver
to Participant the number of Shares equal to the number of vested PSUs, and (b) enter Participant's name on the books of the Company
as the shareholder of record with respect to the Shares delivered to Participant. Notwithstanding anything herein to the contrary,
payment in respect of any PSUs vested as a result of Participant’s death pursuant to Section 5.3 shall be made as soon as
practical, but no later than 30 days following the date of Participant’s death.

 

8.                  
Transferability.
Subject to any exceptions set forth in this Agreement or the Plan, the PSUs or the rights relating thereto may not be assigned,
alienated, pledged, attached, sold or otherwise transferred or encumbered by Participant, except by will or the laws of descent
and distribution, and upon any such transfer by will or the laws of descent and distribution, the transferee shall hold such PSUs
subject to all of the terms and conditions that were applicable to Participant immediately prior to such transfer.

 

9.                  
Rights as Shareholder; Dividend
Equivalents.

 

9.1 Participant shall
not have any rights of a shareholder with respect to the Shares underlying the PSUs, including, but not limited to, voting rights
and the right to receive or accrue dividends or dividend equivalents.

 

9.2 Upon and following
the vesting of the PSUs and the issuance of Shares, Participant shall be the record owner of such Shares unless and until such
Shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including
voting and dividend rights).

 

10.              
No Right to Continued Service.
Neither the Plan nor this Agreement shall confer upon Participant any right to be retained in any position, as a Service Provider.
Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate Participant's
Continuous Service at any time, with or without Cause.

 

11.              
Adjustments.
If any change is made to the outstanding Common Stock or the capital structure of the Company, if required, this Award shall be
adjusted or terminated in any manner as contemplated by Section 4.3 of the Plan.

 

12.              
Tax Liability and Withholding.

 

12.1           Participant
shall be required to pay to the Company, and the Company shall have the right to deduct from any compensation paid to
Participant pursuant to the Plan, the amount of any required withholding taxes in respect of the PSUs and to take all such
other action as the Administrator deems necessary to satisfy all obligations for the payment of such withholding taxes.
Notwithstanding the preceding sentence, unless previously satisfied, the Company shall retain a number of Shares issued in
respect of the vested PSU that have an aggregate Fair Market Value as of the Settlement Date equal to the amount of such
taxes required to be withheld; provided that the number of such Shares retained shall not be in excess of the maximum amount
required to satisfy the statutory withholding tax obligations. The number of Shares to be issued in respect of PSUs shall
thereupon be reduced by the number of Shares so retained. The method of withholding set forth in the immediately preceding
sentence shall not be available if withholding in this manner would violate any financing instrument of the Company or any of
the Subsidiaries or result in material adverse accounting treatment for the Company as determined by the Administrator in its
sole discretion.

 

     

     

    

 

12.2          
Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll tax, or other
tax-related withholding ("Tax-Related Items"), the ultimate liability for all Tax-Related Items is and remains
Participant's sole responsibility and the Company (a) makes no representation or undertakings regarding the treatment of any Tax-Related
Items in connection with this Award, vesting or settlement of the PSUs or the subsequent sale of any Shares, and (b) does not commit
to structure the PSUs to reduce or eliminate Participant's liability for Tax-Related Items.

 

13.              
Compliance with Law.
The issuance and transfer of Shares in connection with the PSUs shall be subject to compliance by the Company and Participant with
all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange on
which the Shares may be listed. No Shares of Common Stock shall be issued or transferred unless and until any then applicable requirements
of state and federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel.

 

14.              
Authorization to Share Personal Data. Participant authorizes the Company or any Affiliate of the Company that has
or lawfully obtains personal data relating to Participant to divulge or transfer such personal data to the Company or to a third
party, in each case in any jurisdiction, if and to the extent reasonably appropriate in connection with this Agreement or the administration
of the Plan.

 

15.              
PSUs Subject to Plan.
This Agreement is subject to the Plan. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated
herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan,
the applicable terms and provisions of the Plan will govern and prevail.

 

16.              
Successors and Assigns.
The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of
the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding
upon Participant and Participant's beneficiaries, executors, administrators and the person(s) to whom the PSUs may be transferred
by will or the laws of descent or distribution.

 

17.              
Severability.
The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability
of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and
enforceable to the extent permitted by law.

 

18.              
Discretionary Nature of Plan.
The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion. The grant
of the PSUs in this Agreement does not create any contractual right or other right to receive any PSUs or other Awards in the future.
Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination of the Plan shall
not constitute a change or impairment of the terms and conditions of Participant's employment with the Company.

 

19.              
Amendment.
The Administrator has the right to amend, alter, suspend, discontinue or cancel the PSUs, prospectively or retroactively; provided,
however, that, no such amendment shall adversely affect Participant's material rights under this Agreement without Participant's
consent.

 

20.               Section
409A. This Agreement is intended to comply with Section 409A of the Code or an exemption thereunder and
shall be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes or
penalties under Section 409A of the Code. Notwithstanding the foregoing, the Company makes no representations that the
payments and benefits provided under this Agreement comply with Section 409A of the Code and in no event shall the Company be
liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by Participant on
account of non-compliance with Section 409A of the Code.

 

     

     

    

 

21.              
No Impact on Other Benefits.
The value of Participant's PSUs is not part of Participant’s normal or expected compensation for purposes of calculating
any severance, retirement, welfare, insurance or similar employee benefit.

 

22.              
Acknowledgments.
Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. Participant has read and understands the terms
and provisions thereof and accepts this Award subject to all of the terms and conditions of the Plan and this Agreement, including,
but not limited to, the covenants set forth in Exhibit B governing Competitive Activity. Participant acknowledges that there
may be adverse tax consequences upon the vesting or settlement of the PSUs or disposition of the underlying Shares and that Participant
has been advised to consult a tax advisor prior to such vesting, settlement or disposition.

 

23.              
Interpretation. The Administrator shall have full power and discretion to construe and interpret the Plan (and any
rules and regulations issued thereunder) and this Award. Any determination or interpretation by the Administrator under or pursuant
to the Plan or this Award shall be final and binding and conclusive on all persons affected hereby.

 

24.              
Waiver of Jury Trial. The Company and Participant each hereby waives, to the fullest extent permitted by applicable
law, any right the Company or Participant may have to a trial by jury in respect of any suit, action or proceeding arising out
of this Agreement or any transaction contemplated hereby. The Company and Participant each (a) certifies that no representative,
agent or attorney of any other party has represented, expressly or otherwise, that such other party would not, in the event of
litigation, seek to enforce the foregoing waiver and (b) acknowledges that each party has been induced to enter into the Agreement
by, among other things, the mutual waivers and certifications in this section.

 

25.              
Forfeiture. Except as otherwise set forth in Exhibit B, the PSUs granted hereunder (and any Shares received,
and gains earned or accrued in connection therewith) shall be subject to potential cancellation, recoupment, rescission, payback
or other action in accordance with the terms of the Company’s clawback policy, as it may be amended from time to time (the
“Policy”). The Participant hereby appoints the Company as the Participant’s attorney-in-fact to take such
actions as may be necessary or appropriate to effectuate the Policy.

 

26.              
Acceptance of Agreement. Participant has indicated Participant’s consent and acknowledgement of the terms of
this Agreement pursuant to the instructions provided to Participant by or on behalf of the Company. Participant acknowledges receipt
of the Plan, represents to the Company that Participant has read and understood this Agreement and the Plan, and, as an express
condition to the grant of the PSUs under this Agreement, agrees to be bound by the terms of both this Agreement (including, but
not limited to, the covenants set forth in Exhibit B governing Competitive Activity) and the Plan. Participant and the Company
each agrees and acknowledges that the use of electronic media (including, without limitation, a clickthrough button or checkbox
on a website of the Company or a third-party administrator) to indicate Participant’s confirmation, consent, signature, agreement
and delivery of this Agreement and the PSUs is legally valid and has the same legal force and effect as if Participant and the
Company signed and executed this Agreement in paper form. The same use of electronic media may be used for any amendment or waiver
of any provision of this Agreement.

 

*          *          *

 

     

     

    

 

SiteOne
Landscape Supply, Inc.

 

Form
of Performance Stock Unit Agreement

 

exhibit
a

PERFORMANCE
GOALS

 

PSUs
shall be earned based on 3-year relative EBTA growth and absolute ROIC. The Company’s EBTA shall be measured relative to
the Peers plus the BICs. Relative performance shall be measured using the 12 most recent quarters reported as of the end
of the Performance Cycle (as reported after all Form 10-K Annual Reports have been filed by the Peers reporting theirs results
for such period). Absolute ROIC performance shall be measured over the Performance Cycle. Actual PSUs earned, if any, shall range
from 0% to 200% of the Target Award based upon performance relative the Performance Goals. One hundred percent (100%) of the Company’s
EBTA growth shall be measured relative to the Peers plus BIC. The 3-year average ROIC shall modify (plus/minus 20%) the
PSUs earned for EBTA growth for performance above or below the range set forth in this Exhibit. Performance within the target range
for ROIC set forth in this Exhibit shall have zero impact on PSUs earned for EBTA growth. Earned PSUs on EBTA growth shall be capped
at 100% of the Target Award if absolute EBTA growth is negative. The ROIC modifier shall not result in a payout which exceeds 200%
of the Target Award. 

 

For
purposes of this Award, the following terms shall have the following meanings:

 

“BICs”
shall mean the four best-in-class distributors set forth in Schedule 1 to this Exhibit. 

 

“EBTA”
shall mean the generally accepted accounting principles (GAAP) pre-tax income, adjusted to exclude unusual and infrequent non-operating
items, including, but not limited to, merger and related restructuring charges, goodwill impairments, gain/loss on sale of assets,
gain/loss on sale of investments, insurance settlements and legal settlements, as reported in the financial statements, plus amortization. 
In determining the magnitude and appropriateness of such adjustments, the Administrator may utilize data sourced from a third-party
financial data vendor for both the Company’s performance and the performance of the Peers.

 

“Peers”
shall mean the  16 benchmarking peers set forth in Schedule 1 to this Exhibit. 

 

“ROIC”
shall mean the annual percentage return on invested capital calculated as follows:

 

ROIC
= (Annual EBITA) / (Average Net Assets for the year)

 

EBITA
= earnings before interest, taxes and amortization

 

Net
Assets = Shareholder Equity + Net Debt (Net Debt = Debt + Capital Leases – Cash)

 

Average
is the average for the 4-reporting quarter that fiscal year.

 

		·	Annual ROIC shall be independently calculated
for each of the three years during the Performance Cycle.

 

		·	Three annual ROIC values shall then be
averaged to calculate average ROIC over the Performance Cycle to determine if the modifier shall have an impact.

 

     

     

    

 

“Performance
goals” shall mean: 

 

	Perf. Level	Relative EBTA Growth	% Target Award	Perf. Level	Avg. ROIC	Modifier to PSUs Earned

 based on Relative EBTA

 Growth*
	Maximum	>=75th percentile	200%	Above Target	>20%	+20%
	Target	50th percentile	100%	Target	12%-20%	0%
	Threshold	25th percentile	50%	Below Target	<12%	-20%
	<Threshold	<25th percentile	0%	 	 	 

 

		·	Payout on EBTA growth performance capped at 100% of target if Company’s absolute EBTA growth
is negative.

		·	Payout for performance between levels noted above shall be determined using straight-line interpolation.

		·	Total payout shall be capped at 200% of target.

 

Footnotes (for EBTA calculations):

 

		1.	Source: Standard & Poor's Capital IQ or other third-party financial database

		2.	Growth rates calculated as a 3-year cumulative compound annual growth rate (CAGR) such that growing
the base year by the CAGR for each of the three years results in the sum of 3-year cumulative performance (i.e., all three years
are included, not just the base and ending year)

		3.	Cumulative negative actual performance off of a positive base year shown as -100%
		4.	Any Peer or BIC company that (a) does not have 4-years
of data or growth is not calculable due to a negative base year, shall be excluded from the percentile calculations, (b) is acquired
by another company, including through a management buy-out or going-private transaction, will no longer be considered a Peer or
BIC company for the Performance Cycle, (c) files a petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code or
liquidation under Chapter 7 of the U.S. Bankruptcy Code will remain a Peer or BIC company but EBTA for such company will be deemed
to be -100% growth, and (d) does not file its Form 10-K or 10-Q, as applicable, within three months of the Company’s fiscal
year end will no longer be considered a Peer or BIC company for the Performance Cycle.

 

*     *     *

 

     

     

    

 

SiteOne Landscape Supply, Inc.

Form of Performance Stock Unit Agreement

 

EXHIBIT A

PERFORMANCE GOALS

SCHEDULE 1

PEERS AND BIC

 

 

Advanced Drainage Systems, Inc.

Applied Industrial Technologies, Inc.

Beacon Roofing Supply, Inc.

BMC Stock Holdings, Inc.

Central Garden & Pet Company

DXP Enterprises, Inc.

Eagle Materials Inc.

Fastenal Company*

GMS Inc.

H&E Equipment Services, Inc.

Installed Building Products, Inc.

MSC Industrial Direct Co., Inc.

Pool Corporation

Summit Materials, Inc.

The Scotts Miracle-Gro Company

TopBuild Corp.

Univar Inc.*

W.W. Grainger, Inc.*

Watsco, Inc.

WESCO International, Inc.*

______________________________________________________________________________

*BICs.

 

     

     

    

 

SiteOne
Landscape Supply, Inc.

 

Form
of Performance Stock Unit Agreement

 

exhibit
B

RESTRICTIVE
COVENANTS

 

All section references
in this Exhibit B shall refer to the designated section(s) of this Exhibit B.

 

Section
1 Confidential Information. Except as otherwise provided in Section 5, Participant agrees not to disclose, divulge,
publish, communicate, publicize, disseminate or otherwise reveal, either directly or indirectly, any Confidential Information to
any person, natural or legal, except as required in the performance of Participant’s authorized employment duties to the
Company. For the avoidance of doubt, Participant’s duty to hold the Confidential Information in confidence as set forth in
this Section 1 shall remain in effect until the Confidential Information no longer qualifies as Confidential Information or until
the Company provides written notice to Participant releasing Participant from such duty, whichever occurs first. The term “Confidential
Information” means all information not generally known to the public in any form relating to the past, present or future
business affairs of the Company or any of its Subsidiaries, including without limitation: all business plans and marketing strategies;
information concerning existing and prospective markets, suppliers and customers; financial information; information concerning
the development of new products and services; and technical and non-technical data related to software programs, design, specifications,
compilations, inventions, improvements, patent applications, studies, research, methods, devices, prototypes, processes, procedures
and techniques. Such Confidential Information includes all such information of the Company or a person not a party to this Agreement
whose information the Company has in its possession under obligations of confidentiality, which is disclosed by the Company to
Participant or which is produced or developed while Participant is an employee or director of the Company. “Confidential
Information” shall also include trade secrets (as defined under applicable law) as well as information that does not rise
to the level of a trade secret and includes information that has been entrusted to the Company by a third party under an obligation
of confidentiality. The term “Confidential Information” shall not include any information of the Company which (i)
becomes publicly known through no wrongful act of Participant, (ii) is received from a person not a party to this Agreement who
is free to disclose it to Participant, or (iii) is lawfully required to be disclosed to any governmental agency or is otherwise
required to be disclosed by law, subpoena or court order but only to the extent of such requirement, provided that before making
such disclosure Participant shall give the Company an adequate opportunity to interpose an objection or take action to assure confidential
handling of such information.

 

Section
2 Return of Company Property. Participant acknowledges that all tangible items containing any Confidential Information
or any other proprietary information of the Company or any of its Subsidiaries, including without limitation memoranda, photographs,
records, reports, manuals, drawings, blueprints, prototypes, notes, documents, drawings, specifications, software, media and other
materials, including any copies thereof (including electronically recorded copies), are the exclusive property of the Company and
its Subsidiaries, and Participant shall deliver to the Company all such material in Participant’s possession or control upon
the Company’s request and in any event upon the termination of Participant’s employment with the Company. Participant
shall also return any keys, equipment, identification or credit cards, or other property belonging to the Company or its Subsidiaries
upon termination of Participant’s employment or the Company’s request.

 

     

     

    

 

Section
3 Non-competition and Non-solicitation.

 

3.1              Participant
agrees that during Participant’s employment with the Company, Participant will not, directly or indirectly: (i) as an
employee, consultant, owner, officer, director, manager, operator, or controlling person (including indirectly through a debt
or equity investment), provide to a Competing Business services of the same or similar type provided by Participant to the
Company during Participant’s employment with the Company; (ii) solicit, recruit, aid or induce any employee of the
Company or its Subsidiaries to leave his or her employment with the Company or its Subsidiary in order to accept employment
with or render services to another person or entity unaffiliated with the Company or its Subsidiaries; (iii) solicit, aid, or
induce any customer of the Company or its Subsidiaries to purchase goods or services then sold by the Company or its
Subsidiaries from another person or entity, or assist or aid any other person or entity in identifying or soliciting any such
customer, or (iv) otherwise interfere with the relationship of the Company or any of its Subsidiaries with any of its
employees, customers, agents, representatives or suppliers.

 

3.2             
Participant agrees that during the 18-month period following the date on which Participant’s employment with the Company
terminates for any reason (the “Non-compete Period”), Participant will not directly or indirectly, as an employee,
consultant, owner, officer, director, manager, operator, or controlling person (including indirectly through a debt or equity investment),
provide a Competing Business anywhere in the Territory services of the same or similar type provided by Participant to the Company
within 2 years of the termination of Participant’s employment with the Company. Notwithstanding anything to the contrary
in the preceding sentence, (i) if Participant’s employment terminates for any reason within the 1-year period following a
Change in Control, the Non-compete Period shall be a 12-month period, and (ii) this Section 3.2 shall not apply if Participant’s
employment is terminated by the Company without Cause. The term “Competing Business” means the sale or distribution
of landscaping or irrigation products or supplies. The term “Territory” means those states, cities, and other
regions of the United States, Canada, and any other country within which Participant had substantial responsibilities while employed
by the Company. For the avoidance of doubt, if Participant is a senior officer of the Company, the restriction contained herein
shall relate to all of the businesses of the Company and its Subsidiaries.

 

3.3             
Participant agrees that during the 18-month period following the date on which Participant’s employment with the Company
terminates for any reason, Participant will not, directly or indirectly, on Participant’s own behalf or on behalf of another,
or in assistance or aid of another: (i) solicit, recruit, aid or induce any employee of the Company or its Subsidiaries to leave
his or her employment with the Company or its Subsidiaries in order to accept employment with or render services to another person
or entity unaffiliated with the Company or its Subsidiaries, (ii) solicit, aid, or induce any customer of the Company or its Subsidiaries,
with whom Participant had material contact during the 2-year period prior to the date of termination of Participant’s employment
with the Company, to purchase goods or services then sold by the Company or its Subsidiaries from another person or entity, or
assist or aid any other person or entity in identifying or soliciting any such customer, or (iii) otherwise interfere with the
relationship of the Company or any of its Subsidiaries with any of its employees, customers, agents, representatives or suppliers
with whom Participant had material contact during the 2-year period prior to the date of termination of Participant’s employment
with the Company.

 

3.4             
For the avoidance of doubt, Participant’s agreement to the covenants set forth in Sections 3.2 and 3.3 of this Exhibit
B are not a condition of continued employment with the Company; rather, agreement to these covenants is a condition of Participant’s
participation in the Plan. With respect to any Participant who primarily resides or works in California at the time of his or her
execution of this Agreement or at the time of his or her termination of employment from the Company, the provisions of Sections
3.2 and 3.3 of this Exhibit B will not apply.

 

     

     

    

 

Section
4 Remedies.

 

4.1              The
Company and Participant agree that the provisions of this Exhibit B do not impose an undue hardship on Participant and
are not injurious to the public; that these provisions are necessary to protect the business of the Company and its
Subsidiaries; that the nature of Participant’s responsibilities with the Company provide and/or will provide
Participant with access to Confidential Information that is valuable to the Company and its Subsidiaries; that the Company
would not grant this Award to Participant if Participant did not agree to the provisions of this Exhibit B; that the
provisions of this Exhibit B are reasonable in terms of length of time and scope; and that adequate consideration
supports the provisions of this Exhibit B. In the event that a court determines that any provision of this Exhibit
B is unreasonably broad or extensive, Participant agrees that such court should narrow such provision to the extent
necessary to make it reasonable and enforce the provisions as narrowed. The Company reserves all rights to seek any and all
remedies and damages permitted under law, including, but not limited to, injunctive relief, equitable relief and compensatory
damages for any breach of Participant’s obligations under this Exhibit B.

 

4.2             
Without limiting the generality of the remedies available to the Company pursuant to Section 4.1, if Participant, except
with the prior written consent of the Company, materially breaches the restrictive covenants contained in this Exhibit B,
Participant shall forfeit any PSU’s that vested during the 12-month period prior to the date of termination of Participant’s
employment with the Company, and any Shares acquired on settlement of such PSU’s (including the proceeds from the sale of
any such Shares) shall be subject to clawback or recoupment by the Company. These rights of forfeiture and recoupment are in addition
to any other remedies the Company may have against Participant for Participant’s breach of the restrictive covenants contained
in this Exhibit B. Participant’s obligations under this Exhibit B shall be cumulative (but not operate to extend
the length of any such obligations) of any similar obligations Participant has under the Plan, the Agreement or any other agreement
with the Company or any Affiliate.

 

Section
5 Protected Rights

 

5.1       Notwithstanding
any other provision of this Agreement, nothing contained in this Agreement limits Participant’s ability to file a charge
or complaint with the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and
Health Administration, the Securities and Exchange Commission or any other federal, state or local governmental agency or commission
(collectively, “Government Agencies”), or prevents Participant from providing truthful information in response
to a lawfully issued subpoena or court order. Further, this Agreement does not limit Participant’s ability to communicate
with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government
Agency, including providing documents or other information, without notice to the Company.

 

5.2       Participant
is hereby notified that under the Defend Trade Secrets Act: (i) no individual will be held criminally or civilly liable under
federal or state trade secret law for disclosure of a trade secret (as defined in the Economic Espionage Act) that is: (A) made
in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and made solely
for the purpose of reporting or investigating a suspected violation of law; or (B) made in a complaint or other document filed
in a lawsuit or other proceeding, if such filing is made under seal so that it is not made public; and (ii) an individual who pursues
a lawsuit for retaliation by an employer for reporting a suspected violation of the law may disclose the trade secret to the attorney
of the individual and use the trade secret information in the court proceeding, if the individual files any document containing
the trade secret under seal, and does not disclose the trade secret, except as permitted by court order.

 

*     *     *

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