Document:

EX-10.1:

 

Exhibit 10.1

4 October 2005

«Name»

«Address_1»

«Address_2»

«Address_3»

«Address_4»

Long-Term Incentive Plan — Fiscal Year 2006 Awards

Dear      :

One of the priorities of our Management Compensation Program is to provide you with the opportunity
to share in the long-term success of Air Products. You play an important role in the present and
future performance of our Company. As a result of your performance during the past year, I am
pleased to present your 2006 stock awards under the Company’s Long-Term Incentive Program.

As in the past, our long-term incentive awards recognize your contributions to the business, align
individual goals and performance with shareholder interests and the longer-term Company focus, and
provide you with a competitive pay opportunity. Your 2006 awards include:

	•	 	A Nonstatutory Stock Option to purchase «Stock_Option» shares of
Common Stock at a purchase price of $55.33 per share, which is
100% of the 3 October 2005 Fair Market Value of a share of Common
Stock; and
	 
	•	 	An award of «Rest_Shares» Restricted Shares of Company Common
Stock issued to you as of 4 October 2005; and
	 
	•	 	«Perf_Share» Deferred Stock Units with a three year ORONA
performance period, each Unit (a “Performance Share”) being
equivalent in value to one share of common Stock.

We are committed to offering long-term incentive awards for our employees who contribute to our
success — both now and in the future. Thank you again for your dedication and on-going
contributions to Air Products.

 

 

Your 2006 Awards are subject to and contingent upon your agreement to the conditions described in
Paragraph 17 of Exhibit 1 (the “Conditions”). In order for your 2006 Awards to become effective,
please print and countersign this letter, make a copy for your records, and return a copy of the
letter to Jim Bell, Manager of Compensation, by 21 November 2005 in acknowledgment of your
agreement to the Conditions.

This letter, together with its Exhibit, constitutes the agreement governing your 2006 Awards (this
“Awards Agreement”). Your 2006 Awards are also at all times subject to the applicable provisions
of the Long-Term Incentive Plan (the “Plan”) and to any determinations made by the Management
Development and Compensation Committee of the Board of Directors (or its delegate) with respect to
your 2006 Awards as contemplated or permitted by the Plan or the Conditions. In addition, the
Committee has established a one-year holding period for a portion of your Nonstatutory Stock
Option. You are expected to hold, for one year, 50% of the net shares (after taxes and
commissions) that you receive upon an exercise of the Stock Option.

Neither your 2006 Awards, this Awards Agreement or the Plan constitute a contract of employment,
nor do they guarantee your continued employment for any period required for all or any of your 2006
Awards to vest or become exercisable, or to be earned or paid out. Except as otherwise indicated
all capitalized words used in this Awards Agreement have the meanings described in the Plan.

WITNESSETH the due execution of this Awards Agreement at Allentown, Pennsylvania effective as of
the 3rd day of October 2005 intending to be legally bound hereby.

	 	 	 	 	 
	 	AIR PRODUCTS AND CHEMICALS, INC. 

 	 
	 	By:  	 	 
	 	 	
 	 
	 	 	John P. Jones III 	 
	 

ACKNOWLEDGED AND AGREED this

                     day of                                              
          ,
200   .

                                                                                                    

          «Name»

 

 

Exhibit

 

 

EXHIBIT I

AIR PRODUCTS AND CHEMICALS, INC. (the “Company”)

LONG TERM INCENTIVE PLAN

FY2006 AWARD AGREEMENT

	1.	 	As described in the foregoing grant letter, you are hereby granted FY2006 Awards consisting
of Stock Options (“Options”), shares of Company Common Stock (“Restricted Shares”), and
Deferred Stock Units to be called “Performance Shares” under the Air Products and Chemicals,
Inc. Long Term Incentive Plan as amended and restated on January 23, 2003 (the “Plan”). The
Options are “Nonstatutory Stock Options” as described in Section 6 of the Plan. The
Restricted Shares are described in Section 8 of the Plan. The Deferred Stock Units are
described in Section 9 of the Plan. The Management Development and Compensation Committee of
the Company’s Board of Directors has approved these Awards subject to the applicable
provisions of the Plan and the terms of this Agreement, and contingent upon your execution of
this Agreement. All capitalized terms used in this Agreement have the meaning ascribed to
them in the Plan.
	 
	2.	 	Each Option entitles you to purchase one share of Common Stock (“Share”) at a purchase
price of $55.33 as described below. You can first purchase Shares as follows: (i) up to
one-third of the Shares may be purchased on or after 1 October 2006 and (ii) up to an
additional one-third of such Shares may be purchased on or after 1 October 2007 and 2008,
respectively. The Options cannot be exercised with respect to fractional Shares, and,
accordingly, the number of Shares will be rounded down to the nearest Share on the first two
of the foregoing dates and up to the nearest Share on the third such date to eliminate
fractional Shares. The Options were granted on 3 October 2005 and will continue for a period
of ten (10) years and one day from such grant date and will expire and no longer be
exercisable on 4 October 2015.

 

 

	3.	 	You may purchase Shares by delivering to the Company, at its principal offices in
Allentown, Pennsylvania, written notice of exercise of the Option on forms to be provided by
the Company and the full purchase price of the Shares. Payment of the purchase price may be
made in cash, by the delivery of an irrevocable exercise notice coupled with irrevocable
instructions to a designated broker to simultaneously sell the Shares and deliver to the
Company on the settlement date the portion of the proceeds representing the purchase price
and any taxes to be withheld, or by delivery or attestation of ownership of other shares of
Common Stock owned by you. Payment of any taxes required to be withheld at the time of
exercise may be made in cash (including from a broker on the settlement date) or by having
the number of Shares acquired in the exercise reduced by an amount equal in value to the
amount of such taxes required to be withheld.
	 
	4.	 	Your Options terminate as of the close of business on the last day of your employment with
the Company or a Subsidiary, unless your employment ends due to your death, Disability or
Retirement. However, Options which have been held for less than one year from the date of
grant terminate when employment ends for any reason. Upon your death, Disability or
Retirement on or after 30 September 2006, any unexercisable portion of the Options will be
extended for the remaining term of the award (that is, will become vested and be exercisable)
as if you had continued to be an active employee of the Company or a Subsidiary.
	 
	5.	 	In the event of a Change in Control, the Options become exercisable on the later of the
Change in Control or the first date more than six months from grant. Further, during the
30-day period following a Change in Control, Options may be surrendered for payment of 100%
of the “spread” between the value of the Shares (as defined in Section 11(a)(A) of the Plan),
and the purchase price.

 

 

	6.	 	Options are nonassignable and nontransferable except to your Designated Beneficiary, by
will or by the laws of descent and distribution, or by gift to family members or to trusts of
which only family members are beneficiaries. Transfers by gift can be made only after the
Option has become exercisable and subject to such administrative procedures and to such
restrictions and conditions as the officers of the Company shall determine to be consistent
with the purposes of the Plan and the interests of the Company and/or to be necessary or
appropriate for compliance with all applicable tax and other legal requirements. Subject to
the foregoing, you may transfer Options by gift only by delivering to the Company at its
principal offices in Allentown, Pennsylvania, written notice of the intent to transfer the
Options on forms to be provided by the Company.
	 
	7.	 	The Restricted Shares shall be issued to you, contingent upon your execution of this
Agreement, as of 4 October 2005. Upon issuance of the Restricted Shares, you shall have all
the rights of a shareholder with respect to the Restricted Shares, including the right to
vote such Restricted Shares and receive all dividends or other distributions paid with
respect to the Restricted Shares, subject only to the restrictions contained in Paragraph 8
below. In the event of any change in the outstanding shares of Common Stock of the Company
or the occurrence of certain other events described in Section 12 of the Plan, an equitable
adjustment of the number of Restricted Shares covered by this Agreement shall be made
consistent with the impact of such change or event upon the rights of the Company’s other
shareholders, and any additional shares of Common Stock issued to you as a result of such
adjustment shall be Restricted Shares subject to this Agreement, including, without
limitation, the restrictions contained in Paragraph 8.
	 
	8.	 	The “Restriction Period” with respect to the Restricted Shares shall be the period
beginning 4 October 2005 and ending upon the earliest of six months following your death,
Disability, Retirement, or immediately following a Change in Control of the Company. During
the Restriction Period, the

 

 

	    	    	Restricted Shares may not be sold, assigned, transferred, encumbered, or otherwise disposed of
by you; provided however, that upon your exercise of Stock Options, such Restricted Shares may
be used to pay the purchase price by attestation, with the stipulation that the Restricted
Shares attested will remain subject to the restrictions of this Paragraph 8 and the terms of
this Agreement. If your employment by the Company and all its Subsidiaries is terminated for
any reason prior to 1 October 2006, or for any reason other than death, Disability or
Retirement after 30 September 2006, the Restricted Shares shall be returned to the Company and
forfeited in their entirety; provided that, in the event of a Change in Control of the
Company, your rights to the Restricted Shares shall become immediately transferable and
nonforfeitable.

	9.	 	At the end of the Restriction Period, and, if earlier, upon your election to include the
value of the Restricted Shares in your federal taxable income pursuant to Internal Revenue
Code Section 83(b), payment of taxes required to be withheld by the Company must be made.
When taxation occurs at the end of the Restriction Period, applicable taxes will be withheld
by reducing the number of the Restricted Shares issued to you by an amount equal in market
value to the taxes required to be withheld. In the event you make a section 83(b) election,
applicable taxes must be paid in cash to the Company at the time the election is filed with
the Internal Revenue Service.
	 
	10.	 	In the event your employment is terminated due to your death on or after 30 September 2006,
the Restricted Shares shall be transferred free of restriction, net of any applicable taxes,
to your Designated Beneficiary or, if none, to your legal representative.
	 
	11.	 	The Performance Shares granted to you will be earned at the percentage indicated on the
attached Schedule for the level of average annual ORONA achieved for a three year performance
cycle ending 30 September 2008. Subject to the forfeiture conditions contained in Paragraph
12, each earned Performance Share will entitle you to receive, at the end of the Deferral
Period

 

 

(as defined below), a payment equal to the value of one share of Company Common Stock.

	12.	 	The Deferral Period will begin on the date of this Agreement and will end on the respective
date your Performance Shares are paid as described in Paragraph 13. If your employment by the
Company and all its affiliates is terminated for any reason prior to 1 October 2006, all your
Performance Shares will be automatically forfeited in their entirety. If your employment by
the Company and all its affiliates terminates after 30 September 2006 other than due to death,
Disability or Retirement, you will forfeit all of your Performance Shares for which the
performance cycle is not completed. If your employment by the Company and all its affiliates
is terminated after 30 September 2006 due to death, Disability, or Retirement, you will
forfeit a pro-rata portion of your earned Performance Shares which portion in each case shall
be based on the number of full months you worked following the grant date.
	 
	13.	 	Performance Shares earned and not forfeited shall be paid as follows, as soon as
administratively practical after the due date: one-half shall be paid in a cash payment at the
end of the performance cycle which shall be equal to the Fair Market Value, as of the last day
of the performance cycle, of the number of shares of Company Common Stock representing half of
the Performance Shares earned; and the remaining half of the earned Performance Shares shall
be paid in shares of Company Common Stock (“Deferred Shares”) at the end of the two-year
period following the end of the performance cycle. No portion of the Deferred Shares will be
distributed to you if you terminate employment by the Company and all its affiliates prior to
the end of the Deferral Period other than due to death, Disability, or Retirement. No cash
dividends or other amounts shall be payable with respect to the Performance Shares during the
Deferral Period. If your employment by the Company and all affiliates is terminated during
the Deferral Period due to death, Disability, or Retirement, your earned Deferred Shares will
be paid as follows: Deferred Shares for

 

 

	 	 	which the performance cycle is complete will be paid on the earlier of the date they would
have been paid if you remained employed or six months after your employment terminates, and
Deferred Shares for which the performance cycle is not complete will be paid on the later of
six months after the termination of your employment or the completion of the performance
cycle. At the end of the Deferral Period for each earned and nonforfeited Performance Share,
the Company will also pay to you, an additional cash payment equal to the dividends which
would have been paid on a share of Common Stock during the Deferral Period, net of applicable
taxes.
	 
	14.	 	If your employment by the Company or a Subsidiary terminates during the Deferral Period due
to death, payment in respect of earned Performance Shares that are not forfeited and of
related Dividend Equivalents shall be made to your Designated Beneficiary or, if none, your
legal representative.
	 
	15.	 	Following or in connection with a Change in Control, all outstanding Performance Shares,
together with any Dividend Equivalents for the period for which such Performance Shares have
been outstanding, shall be paid in accordance with Section 11(e) of the Plan.
	 
	16.	 	In the event of any change in the outstanding shares of Common Stock of the Company or the
occurrence of certain other events as described in Section 12 of the Plan, an equitable
adjustment of the number of Performance Shares covered by this Agreement shall be made as
provided in the Plan.
	 
	17.	 	Notwithstanding the above, your FY2006 Awards are granted subject to forfeiture for breach of
the following conditions (“Conditions”):

	 	(i)	 	You continue to comply with the terms of your employee patent and trade secret
agreement and with all other agreements with, and obligations and duties to, the
Company and any of its subsidiaries and affiliates (hereafter, together, the
“Company”), and refrain from conducting yourself in a manner adversely affecting the
Company;

 

 

	 	(ii)	 	Without limiting the generality of the foregoing, while employed by the Company and
for two years following your separation from service with the Company for any reason, you

	 	o	 	Refrain from engaging in any activity in competition with the
Company, whether as an officer, director, employee, consultant, advisor, agent,
broker, independent contractor, partner, shareholder, or principal of any
corporation, partnership, proprietorship, firm, association, person or other
entity;
	 
	 	o	 	Refrain from undertaking any employment or activity wherein the
fulfillment of your duties would call upon you to reveal, to make judgments on, or
otherwise to use any “confidential information” of the Company;
	 
	 	o	 	Refrain from directly or indirectly, either for yourself or for any
other person, diverting or taking away or attempting to divert or take away (or
calling on or soliciting or attempting to call on or solicit) any of the Company’s
customers or patrons, including but not limited to those upon whom you called or
whom you solicited or with whom you became acquainted while employed by the
Company; and
	 
	 	o	 	Refrain from directly or indirectly or by action in concert with
others, inducing or influencing (or seeking to induce or influence) any person who
is engaged (as an employee, agent, independent contractor, or otherwise) by the
Company to terminate his or her employment or engagement.

If, in the Committee’s sole discretion, it is determined that you have breached any of the
foregoing Conditions, after notice by registered mail directed to your last known address, all
of your outstanding awards under the Plan, including any unexercised Options and any
Restricted Shares which are still subject to

 

 

restriction will be completely terminated. Notwithstanding any other provisions hereof,
following or in connection with a Change in Control, the foregoing Conditions shall lapse and
be of no further force or effect.

	18.	 	Neither your FY2006 Awards, this Award Agreement, nor the Plan constitute a contract of
employment; nor do they guarantee your continued employment for any period required for all or
any of your Options to vest or become exercisable.

 

 

ATTACHMENT I

ORONA Schedule for Performance Period

3 October 2005- 30 September 2008

	 	 	 	 	 	 	 
	ORONA	 	Earnout Factor	 	 
	11.0%

	 	 	200	%	 	 
	10.0%

	 	 	100	%	 	 
	9.5%

	 	 	50	%	 	 
	9.0%

	 	 	35	%	 	subject to further reduction at
	 

	 	 	 	 	 	the discretion of the CommitteeEX-10.1

 

Exhibit 10.1

	 	 	 	 	 
	DATE:

	 	                    , 2006	 	 
	 
	 	 	 	 
	TO:

	 	[insert Name]	 	 
	 

	 	 	 	 
	 

	 	[insert Business Unit]	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	FROM:
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	SUBJ:

	 	SSAR and Cash Performance Award
	 	 

We are pleased to inform you that the Compensation Committee of Dover Corporation (“Dover”) has
granted you a stock appreciation right settled upon exercise by the issuance of shares of Dover
stock (“SSARs”) and a cash performance program award under the terms of the Dover Corporation 2005
Equity and Cash Incentive Plan (the “Plan”). Congratulations!

Grants are made only to key officers and employees who are in a position to materially affect the
profitability and growth of their organizations. Grants are given to those recognized as key to
their operations, but the actual reward can only be earned in the future, as Dover stock
appreciates and your business performs well.

SSAR

Here are the details for your SSAR grant:

Number of shares of Dover Common Stock — [   ]

SSAR base price per share — $ [   ]

Date of Grant — [   ]

Your SSAR is subject to all of the terms and provisions of the Plan (other than those terms and
provisions contained in Parts C or D thereof or that otherwise relate solely to restricted stock or
the cash performance program), which terms and provisions are expressly incorporated into and made
a part of your SSAR as if set forth in full herein. A copy of the Plan is included with this award
agreement. In addition, your SSAR is subject to the following:

     1. Your SSAR shall expire on the tenth anniversary of the Date of Grant (the “Expiration
Date”), subject to earlier termination as provided in the Plan. It is your responsibility to keep track
of your SSAR grants and to ensure that you exercise your SSARs before they expire. Dover does not intend to remind or
notify you that your SSAR is nearing its expiration date.

     2. Subject to the other provisions of the Plan regarding the exercisability of SSARs granted
thereunder, including without limitation Paragraphs 11 through 15 thereof, your SSAR may be
exercised, in whole or in part (but not with respect to fewer than 500 shares) to receive full
shares of Dover Common Stock, at any time commencing on the third anniversary of the Date of Grant
(or, if earlier, the occurrence of a change in control as defined in Paragraph 35 of the Plan), and
on or prior to the Expiration Date by giving written notice to Dover of the number of SSARs being
exercised. No payment is required to exercise SSARs.

 

 

     Upon exercise of your SSAR, you will be entitled to receive from Dover that number of whole
shares of Dover stock equal in value, on the date of exercise of the SSAR, to the excess of (A) the
value of a share of Dover stock on the date of exercise of the SSAR multiplied by the number of
SSARs being exercised over (B) the sum of (i) the base price of the SSAR being exercised multiplied
by the number of SSARs being exercised, plus (ii) unless the holder elects to pay such tax in cash,
any amount of tax that must be withheld in connection with such exercise. Fractional shares shall
be disregarded.

     3. As provided in Paragraph 32 of the Plan, at the time you exercise your SSAR, in whole or in
part, or at any time thereafter as requested by Dover, you hereby authorize withholding from
payroll and any other amounts payable to you, and otherwise agree to make adequate provision as
directed by Dover, for any sums required to satisfy the minimum federal, state, local and foreign
tax withholding obligations of Dover or any of its affiliates, if any, which arise in connection
with the exercise of your SSAR. Dover may, in its sole discretion, and in compliance with any
applicable conditions or restrictions of law, withhold from fully vested shares of Dover Common
Stock otherwise issuable to you upon the exercise of your SSAR that number of whole shares of Dover
Common Stock having a fair market value, determined by Dover as of the date of exercise, not in
excess of the minimum amount of tax required to be withheld by law.

     4. Your SSAR is not transferable by you other than by will or the laws of descent and
distribution.

Cash Performance Program Award 

Here are the details for your cash performance program award.

Your business unit is [   ]

The base year is [   ]

The performance period is the three-year period commencing [     ]

Your performance grant at the 100% level is [US$]. The actual cash distribution will be derived from the Cash Performance Award Matrix attached hereto.

Your cash performance program award is subject to all the terms and provisions of the Plan (other
than those terms and provisions contained in Part B or C thereof or that otherwise relate solely to
stock options or restricted stock), which terms and conditions are expressly incorporated into and
made a part of the award as if set forth in full herein. A copy of the Plan is included with this
award agreement. In addition, your award is subject to the following:

     1. Within 90 days following the end of the performance period, Dover will pay you a cash
performance payment if your Business Unit has reached certain performance targets, as more fully
described below, and the other conditions of your award are satisfied.

          If your Business Unit’s average annual percentage rate of growth in earnings during the
performance period (determined by applying the Implicit Price Deflator for Gross Domestic Product,
as calculated by the U.S. Commerce Department, or other applicable service, as may be appropriate
for Business Units based outside the U.S., to nominal earnings) over base year earnings is not less
than 0% and if your Business Unit’s average return on capital employed is not less than 10%, you
will be entitled to receive your cash performance payment as derived from the attached Cash
Performance Award Matrix, on a sliding grid scale with interpolations to the nearest 1/10 of 1%
between the percentage points with respect to earnings and return on total capital employed. The
base year earnings (from which earnings

2

 

growth is measured) for each Business Unit shall be not less than an amount equal to a 10%
return on capital employed by such Business Unit during the base year.

     2. For purposes of the New York Corporate Office Business Unit, earnings shall mean Dover’s
consolidated fully diluted earnings per share after taxes and after the cost of this Plan. For
purposes of any other Business Unit, earnings shall mean before-tax earnings of that particular
Business Unit after its applicable share of the cost of the Plan, but excluding gains and losses
from the disposition of businesses. For all Business Units, extraordinary gains shall be excluded
from earnings. Extraordinary gains shall be determined under generally accepted accounting
principles and shall apply only to material items and transactions that are distinguished both by
their unusual nature and by the infrequency of their occurrence.

     3. For purposes of New York Corporate Office Business Unit participants, average return on
capital means the average annual consolidated net earnings of Dover after the cost of the Plan, but
before extraordinary gains, during the performance period, divided by the average sum of the
stockholders’ equity at the beginning and end of each calendar quarter during the performance
period. For purposes of participants at any other Business Unit, return on capital shall be
computed in the manner indicated in Dover’s Accounting Manual as amended from time to time.

     4. The aggregate maximum cash payout for each Business Unit shall not exceed 30% of its annual
earnings increase over the performance period. In no event will your cash performance payment
exceed US$2 million (or the equivalent amount in local currency) as provided in Paragraph 26 of the
Plan.

     5. The following rules will apply if you are transferred from one Business Unit (the
"Transferor Business Unit”) in the Dover Controlled Group to another Business Unit (the “Transferee
Business Unit”) in such group during the performance period. The term “Dover Controlled Group”
means Dover and its subsidiaries and divisions.

     (a) If the transfer occurs during the third year of the performance period, your cash
performance payment, if any, shall be based on the performance of the Transferor Business
Unit.

     (b) If the transfer occurs during the first two years of the performance period, your
cash performance payment, if any, shall be based on the performance of the Transferor
Business Unit or the Transferee Business Unit, whichever you choose, provided that,
if you have chosen to have the payout of any other Cash Performance Program award based on
the performance of the Transferee Business Unit, then the payout of this award, if any,
shall also be based on the performance of the Transferee Business Unit.

     (c) In both (a) and (b) above, your cash performance payment, if any, will be based
upon the original performance grant dollar amount.

     6. The following rules will apply in the event of a change of control (as defined in Paragraph
35 of the Plan) of Dover.

     (a) The performance period will end on the last day of the month prior to the month in
which the change of control occurs.

3

 

     (b) The cash performance payment, if any, to which you will be entitled will be equal
to the cash performance payment, as determined under the provisions of the Plan and as set
forth herein (but without regard to this subparagraph 6 (b)), multiplied by a fraction, the
numerator of which is the number of months in the performance period as shortened by
subparagraph 6(a) and the denominator of which is 36.

     (c) Any cash performance payment to which you are entitled will be made promptly, but,
except to the extent required by Section 409A of the Code to avoid any penalties on you, in
no event more than five days after the change of control.

*     *     *     *     *

The SSAR and cash performance program awards made to you do not confer any benefits, rights or
privileges on you other than those explicitly set forth in the Plan or this award agreement. By
accepting this award, you agree that any benefits that you may realize under the Plan shall not be
treated as wages, salary or any other form of remuneration in the event of severance, redundancy,
or resignation, or for purposes of calculating any pension, benefits or other remuneration to which
you may become entitled. You also acknowledge that benefits provided under the Plan are ex gratia
and entirely at the discretion of Dover and your employer. Dover and your employer reserve the
right to amend, modify or terminate the Plan at any time in their discretion without notice. By
accepting this award, you consent to the transfer of any information relating to your participation
in the Plan to Dover and its affiliates.

In consideration of the benefits conferred on you by this instrument, as well as your continued
employment by Dover Corporation or one or more of its affiliates, you expressly recognize the
obligations you may have under Paragraph 36 (Non-compete) of the Plan with respect to all your
SSARs and cash performance program awards under the Plan.

You expressly acknowledge that neither Dover nor any of its affiliates shall be responsible for, or
have any liability to you or any other person with respect to, any taxes or penalties which may be
imposed on you in connection with any SSAR or cash performance program awards granted under the
Plan, in the event that such award becomes subject to Section 409A of the Code and the regulations
promulgated thereunder.

If and to the extent required by Section 409A of the Code to avoid any penalties on you, any
“payments” (within the meaning of such Section) to you hereunder after termination of your
employment may be distributed on the later of (i) the dates specified in this award agreement or
any other agreement with Dover, and (ii) six (6) months after the date your employment with Dover
or any of its affiliates terminates.

4

 

Please acknowledge receipt of a copy of the Plan and your agreement to the terms and conditions set
forth herein and therein by signing and returning one copy of this award agreement, whereupon your
SSAR and cash performance program award will become a binding agreement between you and Dover
Corporation. The other copy is for your files.

	 	 	 	 	 
	 
	 	 	 	 
	 	 	 
	Employee	 	[insert Title]
	 

	 	For Dover	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	Date
	 	 	 	 

5

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