Document:

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                                                                    Exhibit 10.1

                         MAX & ERMA'S RESTAURANTS, INC.

                             INDEPENDENT CONTRACTOR
                              CONSULTING AGREEMENT

      THIS AGREEMENT (the "Agreement") is made by and between Max & Erma's
Restaurants, Inc., an Ohio corporation with its principal offices located at
4849 Evanswood Drive, Columbus, Ohio 43229 (the "Company"), and Bonnie Brannigan
residing 7112 Timberview Drive, Dublin, Ohio 43017 ("Consultant").

                                    RECITALS

      A. Company owns, operates and franchises Max & Erma's casual theme
restaurants (the "Company's Business").

      B. Consultant has been employed by the Company since 1996 as its Vice
President of Marketing and Strategic Planning and has submitted her resignation
as an officer and employee of the Company and any of its subsidiaries effective
July 25, 2005, and thereafter intends to be self employed as a business
consultant in the areas of marketing, strategic planning and corporate
communications.

      C. Company wishes to retain certain consulting services of Consultant on
the terms described below, and Consultant has agreed to provide such services.

                                    AGREEMENT

      In consideration of the foregoing, and of their mutual promises contained
herein, the parties agree as follows:

      1. ENGAGEMENT; SCOPE OF SERVICES. Company hereby engages Consultant to
assist Company in its marketing, strategic planning and intranet development as
may be determined from time to time by Company's President and Chief Executive
Officer (the "Services"), and Consultant agrees to render the Services under the
terms and conditions set forth in this Agreement.

      2. METHOD AND TIME OF PERFORMING THE SERVICES. Consultant shall exercise
her best efforts to perform the Services, and shall determine the method,
details, and means of performing the Services.

<PAGE>

      3. CONSULTING FEE AND EXPENSES.

            (a) Company shall pay Consultant a consulting fee at an hourly rate
of $125.00 for the Services, which will be invoiced to Company within 10 days
after the conclusion of each month of the contract term.

            (b) During the first six months of this Agreement, Company will
request that Consultant expend, and the Consultant agrees to expend, at least
260 hours rendering the Services, on such dates and times as the Company
reasonably requests, and Company will incur a liability to Consultant for at
least $32,500.00 during the six-month period this Agreement remains in effect
from July 25, 2005 through January 25, 2006.

            (c) Company will reimburse Consultant for direct, reasonable and
necessary out-of-pocket expenses incurred in the performance of this Agreement
(such as out of town travel expenses, long distance telephone charges, copy
expenses, etc.), upon receipt of an invoice from Consultant and, if requested,
supporting documentation therefore; provided, however, that any expense item
exceeding $500 shall require pre-approval by Company.

      4. SERVICES NOT EXCLUSIVE; LIMITATIONS ON SERVICES TO OTHERS. Company
acknowledges that Consultant intends to and may seek engagement by other clients
for consulting services, including services in the areas of marketing, strategic
planning and intranet development, during the Term (as defined below) of this
Agreement. However, Consultant agrees that during the Term of this Agreement,
Consultant shall not, directly or indirectly, in any capacity, for the benefit
of herself or any other party, provide services similar to the Services rendered
or to be rendered to Company hereunder to any competitive restaurant business as
defined in Exhibit A hereto without the express prior written consent of the
Company.

      5. NO CONFLICT WITH OTHER AGREEMENTS. Consultant represents and warrants
to Company that the execution, delivery and performance by Consultant of this
Agreement will not conflict with or result in a breach of any of the terms,
conditions or provisions of, or constitute (with due notice or lapse of time or
both) a default under, any agreement or instrument to which Consultant is a
party or by which she is bound or any other legally enforceable duty of
Consultant to any former employer other than Company or person or entity for
whom she has previously provided consulting or employment services.

      6. TERM AND TERMINATION; SURVIVAL.

            (a) The initial term of this Agreement shall commence on the date it
is signed, which shall not be before July 25, 2005 (the "Effective Date"). This
Agreement shall terminate on the earliest of the following: (i) death or
disability of Consultant, rendering Consultant unable to perform her duties
under this Agreement; (ii) termination of this Agreement by Company by reason of
the breach thereof by Consultant; or (iii) January 25, 2006 (the "Term"). After
December 31, 2005, this Agreement shall automatically continue unless and until
either party gives at least fourteen (14) days advance written notice of
termination or Company gives written notice of breach of this Agreement by
Consultant.

<PAGE>

            (b) The agreements set forth in paragraphs 3, 8, 10, 11, 12, and 16
of this Agreement shall survive termination of this Agreement.

      7. INDEPENDENT CONTRACTOR. The parties acknowledge and agree that
Consultant is an independent contractor with full rights to govern her own
conduct and agree that the Consultant shall have no authority to bind Company in
any respect whatsoever. Consultant is not an employee, partner or joint venturer
of Company. Consultant shall not be treated as an employee of Company for
federal or state tax purposes, unemployment or disability benefits, or for any
other withholding tax or insurance purposes. Consultant shall pay, when and as
due, any and all taxes and related assessments incurred as a result of payments
by Company to Consultant hereunder, including estimated taxes. Company shall
have no obligation to compensate Consultant or provide Consultant with benefits
in respect of sickness or accident, whether or not resulting from the
performance by Consultant of the obligations under this Agreement; retirement or
pension; or any other benefits provided by Company to any of its employees.
Consultant shall indemnify and hold harmless Company from and against all
assessments, claims, liabilities, costs, expenses, and damages that Company may
suffer or incur with respect to any of the foregoing matters.

      8. RELEASE OF CLAIMS. In exchange for engaging Consultant as a consultant
to Company hereunder and the promise to pay the fees provided in this Agreement,
and other valuable consideration expressed in this Agreement, the adequacy of
which Consultant expressly acknowledges, Consultant hereby releases and forever
discharges Company, and all of its affiliates, parent corporations,
subsidiaries, divisions, predecessors, successors, and assigns, and all of their
respective directors, officers, agents and employees, personally and in their
representative and official capacities, from any and all local, state and
federal lawsuits, claims, remedies, damages, demands, discrimination suits or
charges, costs and attorneys fees, and any causes of action of whatever type or
nature, whether legal or equitable, whether known, unknown or unforeseen and
existing as of July 25, 2005. The rights, liabilities, claims and actions
released, waived and extinguished here by Consultant, and with respect to which
Consultant covenants not to sue, shall include but not be limited to those
arising or which might arise under Title VII of the Civil Rights Act of 1964;
any and all claims under the Civil Rights Act of 1866; any and all claims under
the Americans With Disabilities Act of 1990; any and all claims under the Age
Discrimination in Employment Act, as amended, including the Older Workers
Benefit Protection Act of 1990; any and all claims under Family Medical Leave
Act of 1993; any and all claims under the Employment Retirement Income Security
Act; any and all claims for attorneys fees; any and all contract, tort or common
law claims, included but not limited to, any and all claims for compensation or
bonuses under any of Company's compensation plans; and any and all claims under
any federal, state or local statute or ordinance or under any federal, state or
local common law.

      9. TIME PERIOD TO CONSIDER AGREEMENT AND TO REVOKE AGREEMENT; CONSULTATION
WITH COUNSEL. This Agreement was given to Consultant on July 14, 2005 to review,
with the agreement that Consultant have up to 21 days within which to consider
and sign the Agreement but in no event would the Agreement be signed by
Consultant before July

<PAGE>

25, 2005. CONSULTANT AND COMPANY AGREE AND ACKNOWLEDGE THAT CONSULTANT HAS BEEN
ADVISED BY THIS WRITING THAT SHE HAS BEEN GIVEN UP TO TWENTY-ONE (21) DAYS
WITHIN WHICH TO CONSIDER THE TERMS OF THIS AGREEMENT, THAT SHE WAS ADVISED TO
CONSULT WITH LEGAL COUNSEL PRIOR TO SIGNING THIS AGREEMENT, AND THAT SHE HAS THE
RIGHT TO REVOKE THIS AGREEMENT, BY DELIVERING A WRITTEN REVOCATION NOTICE TO
COMPANY, FOR A PERIOD NOT TO EXCEED SEVEN DAYS AFTER THE DATE ON WHICH SHE
SIGNED THE AGREEMENT. Consultant and Company further agree that they have had
the opportunity to discuss the terms of this Agreement with their respective
attorneys, that this Agreement is written in a manner that they both understand,
and that they have fully reviewed with their attorneys the legal claims and
rights that are being released and the obligations of each party under this
Agreement. Consultant and Company further acknowledge that they fully and
completely understand and accept the terms of this Agreement and enter into it
freely, voluntarily, and of their own free will.

      10. NON-COMPETITION. Consultant will not during the term of this
Agreement:

            (a) engage or participate, directly or indirectly, either as
principal, agent, employer, employee, consultant, stockholder (except as the
holder of not more than two percent (2%) of the stock of any publicly traded
corporation), or in any other individual or representative capacity whatsoever,
in the operation, management or ownership of any business, firm, corporation,
association, or other entity engaged in any competitive restaurant business as
defined in Exhibit A hereto without the express prior written consent of the
Company;

            (b) for herself or in conjunction with or on behalf of any other
individual or entity, solicit, divert, take away or endeavor to take away from
Company any employee of Company who was an employee of Company at any time
during the term of this Agreement.

      11. CONFIDENTIAL INFORMATION; ASSIGNMENT OF INVENTIONS.

            (a) As used herein, the term "Confidential Information" includes,
but is not limited to, all information and materials belonging to, used by, or
in the possession of Company (i) which have been disclosed or made known to, or
has come into the possession of Consultant as a consequence of or through
Consultant's relationship with Company before or after the date hereof, (ii)
which are related to Company's customers, potential customers, suppliers,
distributors, business strategies or policies, operating practices, operating
manuals, recipes, financial or sales results, sales and management techniques,
marketing plans, strategic plans, research or development, reports, records,
software, systems, source or object code, software documentation or instruction
or user manuals, and (iii) which have not generally been made available to the
general public by Company pursuant to a specific authorization in the ordinary
course of business by Company of the release of such information to the general
public or otherwise published and released by Company to the general public.
Notwithstanding the foregoing, Consultant may release Confidential Information
if (1) required by law, (2) necessary to establish a lawful claim or defense
against Company, (3) necessary to establish a lawful claim or defense against a
person or entity other than Company, but only with the permission, which shall
not be unreasonably withheld, of Company, or (4) necessary to respond to process
or appropriate governmental inquiry, but in each case of items (1) to (4)
hereof, only with prompt

<PAGE>

and reasonable prior notice to Company to enable Company to seek appropriate
protective orders or otherwise protect the Confidential Information.

            (b) Consultant agrees:

                  (i) that Consultant will promptly disclose and grant and does
      hereby grant to Company its entire right, title and interest in and to all
      customer lists, discoveries, developments, plans, designs, improvements,
      inventions, formulae, software, documentation, processes, techniques,
      know-how, patents, trade secrets and trademarks, copyrights and all other
      data conceived, developed or acquired by her during the term of this
      Agreement, whether or not patentable or registrable under copyright or
      similar statutes, made or conceived or reduced to practice or learned by
      Consultant, either alone or jointly with others, that result from or are
      conceived during the performance of tasks assigned to Consultant by
      Company or result from use of property, equipment, or premises owned,
      leased or contracted for by Company ("Inventions"). Consultant agrees to
      execute and deliver, from time to time, such documents as may be necessary
      or convenient to effectuate the transfer of such Confidential Information
      to Company and shall cooperate with and assist Company in every proper way
      (at the expense of Company) in obtaining and from time to time enforcing
      patents, copyrights, trade secrets, other proprietary rights and
      protections relating to Inventions in any and all countries;

                  (ii) that Consultant will during the term of this Agreement
      and thereafter safeguard all Confidential Information and, except as
      specifically permitted below, Consultant will never disclose or use for
      any purpose or benefit (other than for the purpose or benefit of Company)
      any Confidential Information;

                  (iii) that, except in connection with the ordinary course of
      Company's business, Consultant will not, either during the term of this
      Agreement or thereafter directly or indirectly, disclose, disseminate or
      otherwise make known or provide any Confidential Information, whether in
      original form or in duplicated or copied form or extracts therefrom, and
      whether orally or in writing, to any individual, partnership, company or
      other entity, unless Company has given its prior written consent thereto;

                  (iv) that, except in connection with the ordinary course of
      the performance of the Services, Consultant will not, either during the
      term of this Agreement or thereafter, remove any Confidential Information
      from the premises of Company either in original form or in duplicated or
      copied form or extracts therefrom; and that upon termination of this
      Agreement, Consultant will immediately surrender to Company, without
      request, all Confidential Information, whether in original or duplicated
      or copied form or extracts therefrom.

      12. ASSIGNMENT. This Agreement shall be binding upon, and inure to the
benefit of, the successors and assigns of Company. Neither this Agreement nor
the rights or duties hereunder may be assigned or delegated by Consultant
without the prior written consent of Company.

<PAGE>

      13. MODIFICATION; WAIVER. This Agreement cannot be amended, changed,
modified, or discharged except by an agreement in writing signed by both Company
and Consultant. The failure by a party to insist upon strict performance of any
terms and provisions of this Agreement will not be deemed a waiver of any
subsequent default in the terms or provisions of this Agreement.

      14. SEVERABILITY. The invalidity or unenforceability of any provisions
hereof shall in no way affect the validity or enforceability of any other
provision of this Agreement.

      15. GOVERNING LAW. This Agreement and the performance of this Agreement
shall be governed by the laws of the State of Ohio without reference to its
conflict of laws rules.

      16. NOTICES. All notices, consents, waivers or communications which are
required or permitted under this Agreement shall be sufficient if given in
writing and delivered personally or by registered or certified mail, return
receipt requested, postage prepaid as follows (or to such other addressee or
address as shall be set forth in a notice given in the same manner):

      If to Company:                           If to Consultant:

      MAX & ERMA'S RESTAURANTS, INC.           BONNIE BRANNIGAN
      P.O. Box 297830                          7112 Timberview Drive
      4849 Evanswood Drive                     Dublin, Ohio 43017
      Columbus, Ohio 43229                     Ph: (614) ____________
      Ph: (614) 291-5300                       Fax: (614) ___________
      Fax: (614) 291-0959

All such notices shall be deemed to have been given on the date delivered or
mailed in the manner provided above.

      17. ENTIRE AGREEMENT. This Agreement contains the entire agreement of the
parties on the subject matter, and no representations, inducement, promises, or
agreements, oral or otherwise, between the parties, not embodied herein shall
have any force or effect.

      18. COUNTERPARTS. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original but all of which shall
together constitute but one instrument, which may be sufficiently evidenced by
any counterpart.

<PAGE>

      IN WITNESS WHEREOF, the parties hereto have executed this Agreement
effective on the date last written below.

CONSULTANT:                                  COMPANY:
                                             MAX & ERMA'S RESTAURANTS, INC.

/s/ Bonnie Brannigan                         By: /s/ Todd B. Barnum
--------------------------------------           -------------------------------
Bonnie Brannigan                                 Todd B. Barnum, Chairman,
                                                 Chief Executive Officer and
                                                 President

Date Signed: July 25, 2005                   Date Signed: July 25, 2005

<PAGE>

                                    Exhibit A

                 DEFINITION OF COMPETITIVE RESTAURANT BUSINESSES

Each of the restaurants listed below is recognized by the parties to be an
"American Casual Theme Restaurant" as defined in this Agreement, is competitive
to Max & Erma's Restaurants, and is illustrative of the definition of a
restaurant business which is competitive with the business of Max & Erma's
Restaurants, but not by way of limitation (the "Competitive Restaurant
Businesses"). There are other common and some well known restaurants that
unquestionably fit the definition of "American Casual Theme Restaurant" that are
not included in this list because of oversight or lack of knowledge. The lack of
inclusion of such restaurants in no way affects their relevance, importance, or
legal standing in this Agreement as Competitive Restaurant Businesses. The list
below is intended to act as an aid to categorize other restaurants that should
be included in the list of Competitive Restaurant Businesses, as well as to
clearly state that those restaurants listed below are specifically deemed
competitive with the business of Max & Erma's Restaurants.

"American Casual Theme Restaurant" shall include, but not be limited to the
following:

All Star Cafe               Damon's                 Montana's
American Bandstand          Fado                    Mountain Jack's
Applebee's                  Fatburger               Ninety-Nine Restaurant & Pub
Atria's                     Fox and Hound           O'Charley's
Bennigan's                  Fuddrucker's            Pizzeria Uno
Bill Bateman's Bistro       Garfield's              Planet Hollywood
Black-Eyed Pea              Grindstone Charlie's    Rainforest Cafe
Boston's                    Ground Round            Red Robin
Boulevard Grille            Hamburger Hamlet        Rocky's
Champp's Americana          Hard Rock Cafe          Ruby Tuesday's
Cheddar's                   Harrigan's              Rusty Bucket
Cheers                      Houlihan's              Smokey Bones
Cheeseburger in Paradise    Lucky 32                TGI Friday's
Chili's                     Johnny Rockets          T.K. Tipp's
Cladaugh's                  Kelsey's                Ted's Montana Grill
Coco's                      McGuffy's               Tony Roma's
Cooker                      Mick's                  Trio
Dalt's                      Midtown Sundries        Village Tavern
                            Mi Mi's Cafe            Yo's Yo's/Yahoo'sEX-10.1

 

Exhibit 10.1

RESTRICTED STOCK AGREEMENT (EMPLOYEE)

Pursuant to the JLG Industries, Inc.

Long Term Incentive Plan

     THIS AGREEMENT made as of this ___day of ___, 20___, by and between JLG
Industries, Inc., a Pennsylvania corporation (the “Company”) and ___(“Grantee”).

     WITNESSETH, that:

     WHEREAS, the Company has duly adopted the JLG Industries, Inc. Long Term Incentive Plan, a
copy of which as presently in effect is on file with the Company (the “Plan”); and

     WHEREAS, the Committee, pursuant to authority vested in it by the Board of Directors and by
the Plan, has approved the granting to the Grantee of an award of Restricted Shares (the “Award”),
upon the terms and subject to the conditions hereinafter set forth, and the Company desires by this
instrument to grant said Award and to specify the terms and conditions thereof.

     NOW, THEREFORE, it is hereby covenanted and agreed by and between the Company and the Grantee
as follows (capitalized terms used but not defined herein shall have the same meanings as set forth
in the Plan):

     Section 1. Grant of Award. Pursuant to the Plan, the Company hereby awards to the Grantee
___Shares of the Company’s capital stock (the “Award Shares”). The Award Shares shall
be Restricted Shares subject to all the terms and conditions in the Plan and hereinafter set forth.

     Section 2. Transfer Restrictions. None of the Award Shares shall be sold, assigned, conveyed,
transferred, pledged, hypothecated or otherwise disposed of, voluntarily or involuntarily, by the
Grantee other than pursuant to the terms of this Agreement.

     Section 3. Release of Restrictions.

[use the following sections (a) through (e) for price-based vesting with 5-year cliff vesting]

          (a) The restrictions set forth in Section 2 above with respect to Award Shares, to the extent
not previously forfeited to the Company, shall lapse (i) with respect to 50% thereof, upon the
first day immediately following the first period (A) that begins more than six months from the date
of this Agreement and (B) of 20 consecutive Trading Days (defined below) for which the average
closing price of the Company’s Shares on the New York Stock Exchange for such 20 consecutive
Trading Days equals or exceeds [___] Dollars ([$___]) [Insert amount equal to 75% increase
over share price on date of grant] and (ii) with respect to the remaining 50% thereof, upon the
first day immediately following the first period (A) that begins more than six months from the date
of this Agreement and (B) of 20 consecutive Trading Days for which

1

 

the average closing price of the Company’s Shares on the New York Stock Exchange for such 20
consecutive Trading Days equals or exceeds [___] Dollars ([$___]) [Insert amount equal to 100%
increase over share price on date of grant]. (Such Share prices of as set forth herein are defined
as the “Accelerated Vesting Prices”.)

          (b) The restrictions set forth in Section 2 above, to the extent they have not lapsed in
accordance with subsection (a) of this Section 3 and to the extent not related to Shares which
previously have been forfeited to the Company, shall lapse on the fifth anniversary of the date of
this Agreement, provided that the Grantee has remained in continuous employment with the Company
throughout such period.

          (c) The restrictions set forth in Section 2 above with respect to the Award Shares, to the
extent they have not lapsed in accordance with subsections (a) and (b) of this Section 3 and to the
extent not related to Shares which previously have been forfeited to the Company, shall lapse on
the first to occur of (each a “Vesting Event”): (i) the date of the Grantee’s death or Disability,
provided that the Grantee has remained in continuous employment with the Company between the date
of this Agreement and such date, (ii) the date on which the Company obtains actual knowledge that a
Change in Control has occurred, or (iii) an action by the Committee, in its sole discretion,
terminating such restrictions.

          (d) Notwithstanding any other provision of this Section 3, if the Grantee is an “officer” of
the Company (as such term is defined in Rule 16a-1(f) promulgated by the U.S. Securities and
Exchange Commission) as of or within six months prior to any Vesting Event, and such Vesting Event
shall occur prior to the expiration of six months after the date of this Agreement, lapse of the
restrictions set forth in Section 2 shall be postponed until expiration of such six-month period.

          (e) “Trading Days” shall mean days on which Shares are traded on the New York Stock Exchange.

[use the following sections (a) through (c) for 5-year cliff vesting]

          (a) The restrictions set forth in Section 2 above, with respect to Award Shares not previously
forfeited to the Company, shall lapse on the fifth anniversary date of the date of this Agreement,
provided that the Grantee has remained in continuous employment with the Company throughout such
period.

          (b) The restrictions set forth in Section 2 above with respect to the Award Shares, to the
extent they have not lapsed in accordance with subsection (a) of this Section 3 and to the extent
not related to Shares which previously have been forfeited to the Company, shall lapse on the first
to occur of (each a “Vesting Event”): (i) the date of the Grantee’s death or Disability, provided
that the Grantee has remained in continuous employment with the Company between the date of this
Agreement and such date, (ii) the date on which the Company obtains actual knowledge that a Change
in Control has occurred, or (iii) an action by the Committee, in its sole discretion, terminating
such restrictions.

2

 

          (c) Notwithstanding any other provision of this Section 3, if the Grantee is an “officer” of
the Company (as such term is defined in Rule 16a-1(f) promulgated by the U.S. Securities and
Exchange Commission) as of or within six months prior to any Vesting Event, and such Vesting Event
shall occur prior to the expiration of six months after the date of this Agreement, lapse of the
restrictions set forth in Section 2 shall be postponed until expiration of such six-month period.

[use the following sections (a) through (c) for ratable three year annual vesting]

          (a) The restrictions set forth in Section 2 above shall lapse on the [___] anniversary date
of the Date of Award with respect to one-third of the Award Shares (rounded to the nearest whole
number of Award Shares), on the [___] anniversary date of the Date of Award with respect to
one-third of the Award Shares (rounded to the nearest whole number of Award Shares) and on the
[___] anniversary of the Date of Award with respect to the remaining Award Shares.

          (b) The restrictions set forth in Section 2 above with respect to the Award Shares, to the
extent they have not lapsed in accordance with subsection (a) of this Section 3 and to the extent
not related to Shares which previously have been forfeited to the Company, shall lapse on the first
to occur of (each a “Vesting Event”): (i) the date of the Grantee’s death or Disability, provided
that the Grantee has remained in continuous employment with the Company between the date of this
Agreement and such date, (ii) the date on which the Company obtains actual knowledge that a Change
in Control has occurred, or (iii) an action by the Committee, in its sole discretion, terminating
such restrictions.

          (c) Notwithstanding any other provision of this Section 3, if the Grantee is an “officer” of
the Company (as such term is defined in Rule 16a-1(f) promulgated by the U.S. Securities and
Exchange Commission) as of or within six months prior to any Vesting Event, and such Vesting Event
shall occur prior to the expiration of six months after the date of this Agreement, lapse of the
restrictions set forth in Section 2 shall be postponed until expiration of such six-month period.

     [use the following sections (a) through (c) (and (d) and (e), if applicable) for performance-based
restricted shares]

          (a) The restrictions set forth in Section 2 above shall lapse on the date that the Committee
certifies in writing, in accordance with the Plan, that the pre-established performance target(s)
stated in subparagraph (b) have been met with respect to the performance period stated in
subparagraph (c). If the Committee determines that the performance target(s) stated in
subparagraph (b) have not been achieved, or have not been fully achieved, then any Award Shares for
which the restrictions do not lapse shall be deemed immediately forfeited as of the end of the
performance period stated in subparagraph (c).

          (b) The performance target(s) for this Award shall be:

3

 

	   	[Set forth target and criteria. If target will provide for partial
lapse because of partial achievement of targets, set forth here.
Plan’s allowed performance criteria: (i) increase in net sales; (ii)
pretax income before allocation of corporate overhead and/or bonus;
(iii) budget; (iv) earnings per share; (v) net income; (vi)
attainment of division, group or corporate financial goals; (vii)
return on stockholders’ equity; (viii) return on assets; (ix)
attainment of strategic and operational initiatives; (x)
appreciation in or maintenance of the price of the common stock or
any other publicly-traded securities of the Company; (xi) increase
in market share; (xii) gross profits; (xiii) earnings before
interest and taxes; (xiv) earnings before interest, taxes,
depreciation and amortization; (xv) economic value-added models;
(xvi) comparisons with various stock market indices; (xvii)
comparisons with performance metrics of peer companies; or (xviii)
reductions in costs.]

          (c) The performance period for this Award shall be the period commencing on ___, 20___and
ending on ___, 20___.

[if providing for additional vesting on death, disability, and change in control, add the following
sections (d) and (e)]

          (d) The restrictions set forth in Section 2 above with respect to the Award Shares, to the
extent they have not lapsed in accordance with subsection (a) and (b) of this Section 3 and to the
extent not related to Shares which previously have been forfeited to the Company, shall lapse on
the first to occur of (each a “Vesting Event”): (i) the date of the Grantee’s death or Disability,
provided that the Grantee has remained in continuous employment with the Company between the date
of this Agreement and such date, or (ii) the date on which the Company obtains actual knowledge
that a Change in Control has occurred.

          (e) Notwithstanding any other provision of this Section 3, if the Grantee is an “officer” of
the Company (as such term is defined in Rule 16a-1(f) promulgated by the U.S. Securities and
Exchange Commission) as of or within six months prior to any Vesting Event, and such Vesting Event
shall occur prior to the expiration of six months after the date of this Agreement, lapse of the
restrictions set forth in Section 2 shall be postponed until expiration of such six-month period.

[add the following subparagraph if providing for vesting upon retirement in addition to death and
disability]

          (_) In addition to the Vesting Events listed above, the restrictions set forth in Section 2
above with respect to the Award Shares, to the extent they have not lapsed in accordance with the
preceding subparagraphs of this Section 3 and to the extent not related to Shares which previously
have been forfeited to the Company, shall lapse on the date of the Grantee’s retirement provided
that the Grantee has remained in continuous employment with the Company between the date of this
Agreement and such date[; but only if such retirement does

4

 

not occur before [e.g., specific date, first anniversary of the date of this agreement, attainment
of age __] (and the date of such lapse shall also be considered a “Vesting Event”). For this
purpose, the Grantee shall be deemed to have retired if the Grantee terminates employment with the
Company after becoming eligible for normal or early retirement under the JLG Industries, Inc.
Employees’ Retirement Savings Plan.

     Section 4. Forfeiture. The Award Shares shall be forfeited to the Company upon the termination
of Grantee’s employment with the Company and its Subsidiaries for any reason prior to the date the
restrictions lapse as provided in Section 3 above.

Section 5. Tender Offer/Merger.

     (a) Notwithstanding anything contained herein to the contrary, Award Shares (i) may be
tendered in response to a tender offer for or a request or invitation to tenders of greater than
50% of the Company’s outstanding Shares or (ii) may be surrendered in a merger, consolidation or
share exchange involving the Company; provided, in each case, that the securities or other
consideration received in exchange therefor shall thereafter be subject to the restrictions and
conditions set forth herein.

     (b) In the event of any change in the outstanding Shares resulting from a subdivision or
consolidation of Shares, whether through reorganization, recapitalization, share split, reverse
share split, share distribution or combination of shares or the payment of a share dividend, the
Award Shares shall be treated in the same manner in such transaction as other outstanding Shares,
except as may be otherwise provided by the Board of Directors. Any Shares or other securities
received by the Grantee with respect to the Award Shares in any such transaction shall be subject
to the restrictions and conditions set forth herein. Also in such event, the Committee shall adjust
the Accelerated Vesting Prices in such manner as the Committee deems equitable in its absolute
discretion to preserve the purpose and intent of Section 3(a) hereof, [use if price-based vesting
provisions apply].

Section 6. Restrictive Legend; Escrow of Share Certificates.

     (a) Award Shares shall be evidenced by one or more Share certificates registered in the name
of the Grantee which shall bear the following restrictive legend, in addition to such other legends
(if any) as the Company may deem necessary of desirable under any applicable law:

“Restricted Shares”

	   	The shares represented by this certificate are subject to the restrictions and
other conditions contained in the JLG Industries, Inc. Long Term Incentive Plan
and the Restricted Stock Agreement dated _________, between JLG
Industries, Inc. and the person named on this certificate, including but not
limited to restrictions on the sale, encumbrance or transfer of the shares
represented by this certificate.

5

 

          (b) The Grantee shall execute and deliver to the Secretary of the Company (the “Escrow
Holder”) a stock power designating the Company as the transferee of an unspecified number of
Shares, which stock power may be completed by the Escrow Holder as specified herein. The Grantee
and the Company each waive any requirement that the signature of the Grantee on the stock power be
guaranteed. Upon receipt of a copy of this Agreement and the stock power, each signed by the
Grantee, the Escrow Holder shall promptly notify the proper officers of the Company who shall cause
one or more share certificates evidencing the Award Shares to be deposited with the Escrow Holder,
to be held in accordance with the terms of this Agreement.

          (c) The share certificates and associated stock powers delivered to the Escrow Holder pursuant
to subparagraph (b) of this Section 6 shall be held in escrow until (i) receipt by the Escrow
Holder of a certificate of the Company certifying that restrictions set forth in Section 2 of this
Agreement with respect to some or all of the Award Shares have lapsed, or (ii) receipt by the
Escrow Holder of a certificate of the Company certifying that some or all of the Award Shares have
been forfeited to the Company pursuant to Section 4. Upon receipt by the Escrow Holder of one of
the foregoing certificates, the Escrow Holder shall deliver to the Grantee or the Company, as
appropriate, share certificates representing all of the Award Shares to which the Grantee or the
Company, as applicable, is entitled due to lapse of restrictions under Section 3 of this Agreement
or forfeiture under Section 4 of the Agreement. Subject to Section 7 of this Agreement, share
certificates delivered to the Grantee shall be free of restrictive legends.

          (d) The Escrow Holder is hereby authorized by the Grantee to utilize the stock power delivered
by the Grantee to transfer all forfeited Award Shares to the Company or to transfer to the Company
or its designee Award Shares used to satisfy the Grantee’s obligation under Section 8 of this
Agreement. The Grantee and the Company agree that the Escrow Holder shall not be liable to any
party to this Agreement for any actions or omissions relating to the escrow created hereby unless
the Escrow Holder is grossly negligent or engages in willful misconduct with respect thereto.

     Section 7. Government Regulations. Notwithstanding anything contained herein to the contrary,
the Company’s obligation to issue Award Shares or deliver certificates evidencing the Award Shares
shall be subject to the Company’s determination that such issuance or delivery will be in
compliance with all applicable laws, rules and regulations and the Company shall have obtained all
necessary approvals required by any governmental agencies, the New York Stock Exchange or other
national securities exchanges to effect the registration or listing of the Award Shares.

Section 8. Withholding Taxes.

          (a) The Company shall have the right to require the Grantee to remit to the Company, or to
withhold from other amounts payable to the Grantee, as compensation or otherwise (including
dividends on Award Shares or delivery of Award Shares upon lapse of restrictions hereunder), an
amount sufficient to satisfy all federal, state and local withholding tax requirements.

6

 

          (b) In the event that the Grantee shall elect to recognize income with respect to Award Shares
in accordance with Section 83(b) of the Code, the Grantee (i) shall furnish the Company with a
completed and signed copy of such election within ten days of its filing; and (ii) shall pay to the
Company the taxes which the Company is required to withhold as a result of such election, in the
amount and on such terms and conditions as the Committee may determine.

     Section 9. Captions. The description of headings of the sections of this Agreement are for
convenience only and shall not control or affect the meaning or construction of any provision of
this Agreement.

     Section 10. Rights as Shareholder. Except as limited by Section 2 hereof, the Grantee shall be
entitled to all of the rights of a shareholder with respect to the Award Shares including the right
to vote such Shares, to receive dividends in cash or stock and other distributions payable with
respect to such Shares since the date hereof, and the right to receive shares in any
recapitalization of the Company. If the Grantee receives any additional shares by reason of being a
holder of the shares issued or transferred under this Agreement, all the additional shares shall be
Restricted Shares and subject to the provisions of this Agreement and all certificates evidencing
ownership of the additional shares shall bear the legend described in Section 6.

     Section 11. Effect of Certain Transactions. The effects on the terms of any Share evidenced
hereby and on the rights and obligations of the Grantee and Company hereunder of a merger,
consolidation, reorganization, recapitalization or otherwise, or any dividend on the Shares,
payable in Shares, or stock split or combination of Shares, shall be determined in the manner
provided in Sections 22 and 23 of the Plan.

     Section 12. No Effect on Employment. Nothing contained in this Agreement shall confer upon the
Grantee any right to remain an employee of the Company. Nothing contained in this Agreement shall
be deemed by implication or otherwise to impose any limitation on any right of the Company or any
Subsidiary to terminate the Grantee’s employment at any time.

     Section 13. Notices. Any notice to be given hereunder by the Grantee shall be either hand
delivered to the office of the General Counsel of the Company, sent by facsimile transmission to
the attention of the General Counsel of the Company at (240) 313-1807, or sent by mail or overnight
delivery service addressed to the Company for the attention of the General Counsel of the Company,
and any notice by the Company to the Grantee shall be hand delivered to the Grantee or sent by mail
or overnight delivery service addressed to the Grantee at the address shown on the signature page
hereof. Either party may, by notice given to the other in accordance with the provisions of this
Section, change the address to which subsequent notices shall be sent.

     Section 14. Plan Controls. The Award Shares evidenced hereby have been awarded pursuant to the
Plan, and the Grantee hereby acknowledges receipt of a copy of the Plan and agrees to be bound by
all the terms and provisions thereof. The Award Shares evidenced hereby are subject to all other
terms and provisions of the Plan, which are hereby incorporated into this Agreement by reference.
Subject to certain limitations set forth in Section 24 of the Plan, the Board of Directors may at
any time terminate, suspend, or modify the Plan,

7

 

which such actions shall be binding upon the Grantee. In the event of any conflict between the
Plan and this Agreement, the terms of the Plan shall be determinative. This Award and the Plan are
intended to, and shall comply with the requirements of, and shall be operated, administered, and
interpreted in accordance with, a good faith interpretation of Code Section 409A and Section 885 of
the American Jobs Creation Act of 2004 (the “AJCA”) to the extent applicable. If any provision of
this Award is inconsistent with the restrictions imposed by Code Section 409A or the AJCA, that
provision shall be deemed to be amended to the extent necessary to bring it into compliance with
Code Section 409A and the AJCA.

     Section 15. Governing Law. This Agreement shall be governed by the laws of Pennsylvania
without regard to conflicts of laws, except to the extent that such laws may be superseded by any
federal law.

     Section 16. Counterparts. This Agreement may be executed in one or more counterparts, all of
which together shall constitute one and the same instrument.

[Signatures Follow]

     IN WITNESS WHEREOF, JLG Industries, Inc. has caused this Agreement to be executed in its
corporate name and the Grantee has executed the same in evidence of the Grantee’s acceptance hereof
upon the terms and conditions herein set forth, as of the day and year first above written.

	 	 	 	 	 	 
	 	 	JLG INDUSTRIES,
INC.

	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Authorized Officer

	 	 	 	 
	 

	 	GRANTEE:

	 

	 	

Grantee

	 

	 	Address of Grantee:

	 

	 	

	 
	 

	 	

	 
	 

	 	

	 

	 	(tel): 

	 

	 	(fax): 

	 

	 	 

8

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