Document:

CAT_EX_10.1_3.31.2013

EXHIBIT 10.1

Terms Applicable to Awards of Restricted Stock to 
Directors pursuant to the Caterpillar Inc. 2006 Long-Term Incentive Plan

Name of Director:  
Number of Restricted Shares Granted: 
Grant Date:  

Pursuant to the terms and provisions of the Caterpillar Inc. 2006 Long-Term Incentive Plan (the “Plan”), Caterpillar Inc. (the “Company”) hereby grants you [      ] shares of restricted stock as described herein (the “Restricted Stock Award”). 

Vesting
The Restricted Stock Award is subject to a one-year cliff-vesting period. The Restricted Stock Award will become fully vested on the first anniversary of the Grant Date specified above (the “Vesting Date”). If your service on the Caterpillar Inc. Board of Directors (the “Board”) terminates for any reason other than long-service separation, disability, death or in connection with a change of control (as described more fully below) prior to the Vesting Date, the Restricted Stock Award will be forfeited.  Upon vesting of the Restricted Stock Award, the stock transfer records of the Company will be changed to note the vesting of your Restricted Stock Award.

Voting Rights
During the period between the Grant Date specified above and the Vesting Date (the “Restriction Period”), you will be entitled to full voting rights with respect to the restricted shares.  From and after the date the shares vest, you will continue to have full voting rights with respect to the shares.

Dividends and Other Distributions
During the Restriction Period, you will have dividend rights with respect to the Restricted Stock Award.  From and after the date the shares vest, you will continue to have dividend rights with respect to the shares.

Termination of Service as a Director
Your termination of service on the Board will impact the Restricted Stock Award as follows:

		
	•
	Long-Service Separation

If your service on the Board terminates by reason of long-service separation (i.e., after attainment of age 55 with 5 or more years of Board service), to the extent that your Board service has continued for at least six months immediately following the Grant Date, your Restricted Stock Award will become fully vested and the stock transfer records of the Company will reflect that vesting.

		
	•
	Change of Control

If your service on the Board terminates within a year after a Change of Control, as defined in the Plan, either without cause or for good reason, your Restricted Stock Award will become fully vested and the stock transfer records of the Company will reflect that vesting.

		
	•
	Disability 

If your service on the Board terminates by reason of disability, as defined in the Plan, your Restricted Stock Award will become fully vested and the stock transfer records of the Company will reflect that vesting.

		
	•
	Death 

If your service on the Board terminates by reason of death, your Restricted Stock Award will become fully vested and the stock transfer records of the Company will reflect that vesting.

		
	•
	Other 

If your service on the Board terminates for any reason other than long-service separation, disability, or death, the unvested portion of your Restricted Stock Award shall be immediately forfeited. 

Transferability of Award
Subject to certain exceptions set forth in the Plan, the Restricted Stock Award may not be assigned, transferred, pledged or hypothecated in any way.  The Restricted Stock Award is not subject to execution, attachment or similar process. Any attempt at such, contrary to the provisions of the Plan, will be null and void and without effect.  Note that once the Restricted Stock Award vests, you will have the ability to transfer those shares.

Designation of Beneficiary
If you have not done so already, you are encouraged to designate a beneficiary (or beneficiaries) to whom your vested shares will be transferred upon your death. If you do not designate a beneficiary, your vested shares will be transferred to your estate.

Administration of the Plan
The Restricted Stock Award shall at all times be subject to the terms and provisions of the Plan and the Plan shall be administered in accordance with the terms of, and as provided in, the Plan.  In the event of conflict between the terms and provisions of this document and the terms and provisions of the Plan, the provisions of the Plan shall control.

Code Section 409A 
It is intended that this Restricted Stock Award satisfies the terms of Section 409A of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations promulgated and other official guidance issued thereunder (“Code Section 409A”) so that the Restricted Stock Award does not constitute deferred compensation for purposes of Code Section 409A.  The Plan and this Restricted Stock Award document shall be interpreted and construed on a basis consistent with such intent.  Notwithstanding anything contained herein to the contrary, the Compensation Committee of the Board (the “Committee”) reserves the right (including the right to delegate such right) to unilaterally amend this Restricted Stock Award document (and thus the terms of the Restricted Stock Award) without your consent solely in order to maintain an exclusion from the application of, or to maintain compliance with, Code Section 409A.  Your acceptance of this Restricted Stock Award constitutes acknowledgement and consent to such rights of the Committee.

Tax Impact
Please refer to the Plan Prospectus for a general description of the U.S. federal tax consequences of a Restricted Stock Award. You may also wish to consult with your personal tax advisor regarding how the Restricted Stock Award impacts your individual tax situation.  Nothing contained in this Restricted Stock Award document or in the Plan Prospectus shall be construed as a guarantee of any particular tax effect for any benefits or amounts deferred or paid pursuant to this Restricted Stock Award document.

Withholding
The lapse of restrictions on stock is a taxable event in many taxing jurisdictions.  In some countries, the Company may be required to withhold taxes upon the taxable event.  The Company may withhold shares to satisfy the withholding requirement subject to the following conditions: (a) the value of the shares surrendered must equal the withholding requirement and (b) the value of the shares surrendered shall be the Fair Market Value (as defined in the Plan) determined as of the release date.  

Compliance with Securities Laws
The Company will take steps required to achieve compliance with all applicable U.S. federal and state securities laws (and other laws, including registration requirements) and with the rules and practices of the stock exchanges upon which the stock of the Company is listed and the Restricted Stock Award is subject to the requirements of such laws and rules.

Adjustment of Shares
Provisions are made within the Plan covering the effect of stock dividends, stock splits, changes in par value, changes in kind of stock, sale, merger, recapitalization, reorganization, etc.  If there are changes to the shares of Company common stock during the Restriction Period, such as a stock split, all of your shares, adjusted for those changes, will be subject to the same restrictions and vesting terms as the Restricted Stock Award.

Acceptance of Award
Your acceptance of this Restricted Stock Award constitutes acknowledgement and consent to the terms of the Restricted Stock Award as described in this Restricted Stock Award document.

Further Information
For more detailed information about the Plan, please refer to the Plan Prospectus or the Plan itself. If you have any questions regarding your equity compensation under the Plan, please contact the Director of Compensation + Benefits.

Caterpillar Inc.
Douglas R. Oberhelman
Chairman of the Boardex10_3.htm

CURTISS-WRIGHT CORPORATION

RESTRICTED STOCK UNIT AGREEMENT

THIS AGREEMENT, dated as of April 1, 2013, ("Grant Date") by and between Curtiss-Wright Corporation, a Delaware Corporation ("Company"), and Thomas Quinly ("Employee"), is entered into as follows:

WHEREAS, the Company has established the Curtiss-Wright Corporation 2005 Omnibus Long-Term Incentive Plan ("Plan"), a copy of which has been provided and can be found in the Company’s 2005 Proxy Statement or by written or telephonic request to the Company Secretary, and which Plan made a part hereof; and

              WHEREAS, the Executive Compensation Committee of the Board of Directors of the Company ("Committee") determined that the Employee be granted restricted stock units subject to the restrictions stated below;

              NOW, THEREFORE, the parties hereby agree as follows:

1.           Grant of Units.

Subject to the terms and conditions of this Agreement and of the Plan, the Company hereby credits to a separate account maintained on the books of the Company ("Account") 24,818 restricted stock units ("Units") which had a value of One Million Dollars based on the closing price of the Company’s $1.00 par value Common Stock ("Stock") on April 1, 2013.  On any date, the value of each Unit shall equal the market value of a share of Stock.

2.              Vesting Schedule.

The interest of the Employee in the Units shall be 100% vested on April 1, 2021 (“Vesting Date”), conditioned upon the Employee's continued employment with the Company as of the vesting date. Notwithstanding the foregoing, the interest of the Employee in the Units shall immediately vest as to:

                      (a)           the pro-rated portion of the unvested Units upon the Employee's termination of employment due to death or disability (i.e. if executive dies or becomes disabled in year 3 then 3/8ths of the total units shall be accelerated); or

(b)           the pro-rated portion of the unvested Units upon a "Change of Control" (as defined in the Plan) and Mr. Quinly’s termination of employment within 18 months from the date of said Change of Control, subject to the aggregate award restrictions provided for under Section 3.3 of the Plan, and the discretion of the Committee to approve such payment pursuant to Section 7.5 of the Plan.

  

  

  

3.              Restrictions.

(a)           The Units granted hereunder may not be sold, pledged or otherwise               transferred and may not be subject to lien, garnishment, attachment or other legal process. The period of time between the date hereof and the date the Units become vested is referred to herein as the "Restriction Period."

(b)           If the Employee's employment with the Company is terminated for any reason by the Company or voluntarily (including retirement) by the Employee, the Units subject to the provisions of this Agreement which have not vested at the time of the Employee's termination of employment shall be forfeited by the Employee.

(c) If the Employee’s employment with the Company is terminated by the Company “For Cause” as defined below then any unvested Units or any vested Units deferred to Section 6(b) below shall be forfeited, or Employee shall reimburse the Company all awarded Units under this Agreement.

4.              Dividends.

Employee shall have no rights or privileges of a stockholder of the Company with respect to the Units during the Restricted Period.  After the Vesting Date, Employee’s Account shall be credited for any cash dividends paid on the Stock.

5.              Changes in Stock.

In the event of any change in the number and kind of outstanding shares of Stock by reason of any recapitalization, reorganization, merger, consolidation, stock split or any similar change affecting the Stock (other than a cash dividend payable in Stock) the Company shall make an appropriate adjustment in the number and terms of the Units credited to the Employee's Account so that, after such adjustment, the Units shall represent a right to receive the same consideration (or if such consideration is not available, other consideration of the same value) that the Employee would have received in connection with such recapitalization, reorganization, merger, consolidation, stock split or any similar change if she had owned on the applicable record date a number of shares of   Stock equal to the number of Units credited to the Employee's Account prior to such adjustment.

  

  

  

6.              Form and Timing of Payment.

The Company shall pay to the Employee a number of shares of Stock equal to the aggregate number of vested Units credited to the Employee as of such date upon either:

                      (a)           The Vesting Date;

                      (b)           Any date after the Vesting Date by which the Employee elects to defer the receipt of the Units in the year prior to the Vesting Date, but in no event later than the fifth anniversary of the Vesting Date; or

                      (c)  The first date on which occurs a Change of Control.

 

 

7.              Disability Termination of Employee.

In the event of disability of the Employee, any unpaid but vested Units shall be paid to the Employee if legally competent or to a legally designated guardian or representative if the Employee is legally incompetent.

8.              Death of Employee.

In the event of the Employee's death after the vesting date but prior to the payment of the Units, said Units shall be paid to the Employee's estate or designated beneficiary.

9.              Taxes.

The Employee shall be liable for any and all taxes, including withholding taxes, arising out of this grant or the vesting of Units hereunder.

10.           Definition.

 

For purposes of this Agreement, a termination of employment is for “Cause” if the Employee

 

(i)   has been convicted of a felony; or

 

(ii)   intentionally engaged in illegal conduct, fraud or, willful misconduct that is demonstrably and materially injurious to the Company or any of its businesses; or

 

(iii)   failed to satisfactorily perform the duties of his position as determined solely by the Company.

 

  

  

  

11.                      Disputes.

 

 

In the event that a dispute shall arise as to whether a termination was for cause, or over whether a voluntary retirement, resignation or other voluntary termination of employment is the direct and proximate result of a substantial adverse change in the terms or conditions of employment, that dispute shall be settled and finally determined by arbitration in the City of New York under the then existing rules of the American Arbitration Association, and judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.

12.  Miscellaneous.

(a)           All amounts credited to the Employee's Account under this Agreement shall continue for all purposes to be a part of the general assets of the Company. The Employee's interest in the Account shall make him only a general, unsecured creditor of the Company.

(b)           The parties agree to execute such further instruments and to take such action as may reasonably be necessary to carry out the intent of this Agreement.

(c)           Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon delivery to the Employee at his address then on file with the Company.

(d)           Neither the Plan nor this Agreement nor any provisions under either shall be construed so as to grant the Employee any right to remain in the employ of the Company.

(e)           This Agreement and the Employment Agreement constitute the entire            agreement of the parties with respect to the subject matter hereof.

                                                 CURTISS-WRIGHT CORPORATION

                       By:/s/ David Adams

                                           -------------------------------------------

    David Adams

                              President and Chief Operating Officer

              /s/ Thomas Quinly

-------------------------------------------

                                                       Thomas Quinly

     RETAIN THIS AGREEMENT FOR YOUR RECORDS

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