Document:

EX-10.3

 Exhibit 10.3 

 

									
	 Gardner
	 		 		 	
	            Denver	 		 		 	 Gardner Denver, Inc.
 Long-Term Cash Bonus Award
 Agreement

 This Long-Term Cash Bonus Award Agreement (“Agreement”) is made by and between «FirstName»
«LastName» (the “Participant”) and Gardner Denver, Inc, a Delaware corporation (the “Company”). 

WITNESSETH: 
 WHEREAS, the Management Development and Compensation Committee of the Board of Directors of the Company (the “Committee”) desires to benefit the Company by increasing motivation on the part of
the Participant by creating an incentive to remain employed by the Company and to work to the very best of the Participant’s abilities; and 
 WHEREAS, to further this purpose, the Company desires to make a Long-Term Cash Bonus Award (the “Award”) to the Participant under the terms of the Gardner Denver, Inc. Long-Term Incentive Plan,
as amended and restated (the “Plan”); and 
 WHEREAS, pursuant to official action of the Committee on
[                    ], 20[    ] (the “Grant Date”), the Company granted the Award contemplated by this Agreement to
the Participant. 
 NOW, THEREFORE, in consideration of the premises, and of the mutual agreements hereinafter set forth, it is
covenanted and agreed as follows: 
 1. Benefits. Participant shall be eligible to receive any and all benefits to which
he or she is entitled to receive for this Long-Term Cash Bonus Award under the terms and subject to the conditions of the Plan, as amended from time to time, which terms and conditions are hereby made a part hereof and are incorporated herein by
reference. In the event of any inconsistency or conflict between the terms of the Plan and those of this Award Agreement, the terms of the Plan shall prevail. Terms which are not specifically defined herein shall have the meanings ascribed to them
in the Plan. 
 2. Terms of Award. The following terms used in this Agreement shall have the meanings set forth below:

 (a) Performance Period. The “Performance Period” is the period beginning on
[                    ] and ending on
[                    ]. 

(b) Base Salary and Base Salary Factor. “Base Salary” means the base salary of the Participant as defined in
Section 2.4 of the Plan. The “Base Salary Factor” to be used in 

  
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calculating the Participant’s Award granted hereunder by application to the Participant’s Base Salary in effect as of the end of the Performance Period, is [«BonusTarget»%].

 (c) Performance Targets. The “Performance Targets” which must be met by the end of the Performance Period in
order for the Participant to receive an Award hereunder are the following percentage increases in [the compound growth rate of Earnings Before Taxes for the Company’s industrial and engineered products businesses since the commencement of the
Performance Period (the “Earnings Growth Rate”)]: 
  

					
	Threshold Performance	  	Target Performance	  	Maximum Performance
	 [        %]
	  	[        %]	  	[        %]

 (d) Payment Opportunity. The Participant’s “Payment Opportunity” is determined by
the extent to which the Performance Targets set forth in paragraph 1(c) are met by the end of the Performance Period in accordance with the following table: 
  

			
	Performance Target Achieved	  	Payment Opportunity
	 Threshold Performance
	  	[        %]
	 Target Performance
	  	[        %]
	 Maximum Performance
	  	[        %]

 The Payment Opportunity for an Earnings Growth Rate occurring between stated Performance Targets at the end of any
Performance Period shall be determined through simple interpolation. An Earnings Growth Rate below the Threshold Performance in any Performance Period will result in no Award payment for that Performance Period. 

(e) Date of Termination. The Participant’s “Date of Termination” shall be the first day occurring on or after the
Grant Date on which the Participant is no longer employed by the Company or any subsidiary or affiliate of the Company, regardless of the reason for the cessation of employment; provided that such a cessation of employment shall not be deemed to
occur by reason of a transfer of the Participant between the Company and a subsidiary or between two subsidiaries. All determinations regarding employment shall be made by the Committee, subject to the rules set forth in Section 15 of the Plan.

 (f) Target Performance. Target Performance means the Earnings Growth Rate Performance Target for the Performance
Period, the attainment of which is necessary for the payment of a [        %] Payment Opportunity. 
 (g) Threshold Performance. Threshold Performance means the Earnings Growth Rate Performance Target for the Performance Period, the attainment of which is necessary for the payment of a
[        %] Payment Opportunity and for the payment of any Award at the conclusion of a Performance Period. 
 (h) Maximum Performance. Maximum Performance means the Earnings Growth Rate Performance Target for the Performance Period, the attainment of which is necessary for the payment of a
[        %] Payment Opportunity. 

  
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 (i) [Earnings Before Taxes. <<Insert Year>> Long-Term Cash Bonus Award
based on <<Insert Year>> earnings before taxes (“EBT”) for the Company’s industrial and engineered businesses of $<<Insert EBT>>.] 
 (j) Retirement. “Retirement” means cessation of employment following a Participant’s attainment of age 55 and completion of five years of service. 

3. Award. The Participant is hereby granted a Long-Term Cash Bonus Award under the Plan in an amount to be determined in
accordance with the terms set forth in paragraph 2 above, subject to the achievement of the Performance Targets set forth therein. The Committee shall compute the specific amount of Award payable to the Participant hereunder by applying the Base
Salary Factor set forth above to the Participant’s Base Salary in effect as of the end of the Performance Period and multiplying that product by the applicable Payment Opportunity as of the end of the Performance Period in accordance with the
following formula: 
 Award amount = Payment Opportunity x (Base Salary Factor x Base Salary) 

In the event the Award calculated in accordance with this Agreement exceeds the maximum Award permissible under the terms of the Plan, then such Award
shall automatically be reduced to the maximum permitted under the terms of the Plan. 
 4. Payment. Unless the
Participant’s Date of Termination occurs during the Performance Period, then, as soon as practicable following the end of the Performance Period, but no later than March 15th of the following calendar year, the Participant shall be paid a
lump sum in [cash], an Award amount calculated in accordance with the terms and methodology set forth in paragraphs 2 and 3 hereof. In the event the Participant’s Date of Termination occurs prior to the end of the Performance Period for any
reason other than death, Disability (as defined in the Plan) or Retirement, the Award granted hereunder, if any, shall be forfeited as of the Date of Termination, unless the Committee determines otherwise in its sole and absolute discretion; if the
Committee makes such a determination, then the Participant shall receive a prorated payment of the Award payable hereunder, if any, as soon as practicable following the end of the Performance Period, but no later than March 15th of the
following calendar year, based on the portion of the Performance Period elapsed as of the Date of Termination and the achievement of the Performance Targets as of the end of the Performance Period. In the event the Participant’s Date of
Termination occurs prior to the end of the Performance Period due to the Participant’s death, Disability or Retirement, then the Participant shall receive a prorated payment of the Award payable hereunder, if any, as soon as practicable
following the end of the Performance Period, but no later than March 15th of the following calendar year, based on the portion of the Performance Period elapsed as of the Date of Termination and the achievement of the Performance Targets as of
the end of the Performance Period. 
 5. Transfer. Participant shall not sell, transfer, assign, hypothecate, pledge,
grant a security interest in, or in any other way alienate any Award granted hereunder, or any interest or right therein, except by will or the laws of descent and distribution, and any such attempted transfer, assignment, hypothecation, pledge or
grant of a security interest shall be null and void and of no legal force or effect. 

  
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 6. Community Interest of Spouse. The community interest, if any, of any spouse of the
Participant in any of the Long-Term Cash Bonus Award shall be subject to all of the terms, conditions and restrictions of this Agreement and the Plan, and shall be forfeited and surrendered to the Company upon the occurrence of any of the events
requiring the Participant’s interest in such Long-Term Cash Bonus Award to be so forfeited and surrendered pursuant to this Agreement. 
 7. Payment Upon Change in Control. In the event of a Change in Control, then the Participant shall receive a payment of the Award payable hereunder, if any, as provided in Section 21 of the
Plan. 
 8. Non-competition, Non-solicitation, and Non-disclosure. The Committee in its sole discretion, may require the
Participant to reimburse immediately, without consideration from the Company, the sum total of the last Award made hereunder, and forfeit any Award earned but not paid hereunder if any of the following events occur: (a) the Participant, as
individual or as a partner, employee, agent, advisor, consultant or in any other capacity of or to any person, firm, corporation or other entity, directly or indirectly, carries on any business, or becomes involved in any business activity,
competitive with the Company or any subsidiary, in violation of the Company’s Code of Ethics and Business Conduct (CP-10-002), as may be amended from time (or any successor policy); (b) the Participant solicits or entices any other
employee of the Company or its affiliates to leave the Company or its affiliates to go to work for any other business or organization which is in direct or indirect competition with the Company or any of its affiliates, or request or advises a
customer or client of the Company or its affiliates to curtail or cancel such customer’s business relationship with the Company or its affiliates; or (c) the Participant fails to abide by the contractual terms of the Employee
Non-disclosure Agreement and/or Invention Assignment Agreement, as applicable, which were executed in accordance with the Company’s Security of Confidential and Proprietary Information Policy (CP-10-013), as may be amended from time (or any
successor policy), during the Participant’s employment with the Company. 
 9. Unearned Awards. In the event the
Company restates its financial results within 12 months of an Award made hereunder due to material non-compliance by the Company with any financial reporting requirements of the federal securities laws, (as determined by the members of the
Compensation Committee and/or the Board who are “independent” under the Company’s corporate governance guidelines), the Company may recover from the Participant, in such manner as the Company deems appropriate under the circumstances,
the excess, if any, of (x) the sum total of the Award actually awarded to the Participant over (y) the amount of the Award such Participant would have received had the Award been calculated based on the restated financial statements.

 10. Arbitration. The Company and the Participant agree that any claim, dispute or controversy arising under or in
connection with this Agreement (including, without limitation, any such claim, dispute or controversy arising under any federal, state or local statute, regulation or ordinance or any of the Company’s employee benefit plans, policies or
programs) shall be resolved solely and exclusively by binding arbitration. The arbitration shall be held in the city of Philadelphia (or at such other location as shall be mutually agreed by the parties). The arbitration shall be conducted in
accordance with the Expedited Employment Arbitration Rules 

  
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(the “Rules”) of the American Arbitration Association (the “AAA”) in effect at the time of the arbitration, except that the arbitrator shall be selected by alternatively
striking from a list of five arbitrators supplied by the AAA. All fees and expenses of the arbitration, including a transcript if either requests, shall be borne equally by the parties. If the Participant prevails as to any material issue presented
to the arbitrator, the entire cost of such proceedings (including, without limitation, Participant’s reasonable attorneys’ fees) shall be borne by the Company. If the Participant does not prevail as to any material issue, each party will
pay for the fees and expenses of its own attorneys, experts, witnesses, and preparation and presentation of proofs and post-hearing briefs (unless the party prevails on a claim for which attorney’s fees are recoverable under the Rules). Any
action to enforce or vacate the arbitrator’s award shall be governed by the Federal Arbitration Act, if applicable, and otherwise by applicable state law. If either the Company or the Participant pursues any claim, dispute or controversy
against the other in a proceeding other than the arbitration provided for herein, the responding party shall be entitled to dismissal or injunctive relief regarding such action and recovery of all costs, losses and attorney’s fees related to
such action. Notwithstanding the provisions of this paragraph, either party may seek injunctive relief in a court of competent jurisdiction, whether or not the case is then pending before the panel of arbitrators. Following the court’s
determination of the injunction issue, the case shall continue in arbitration as provided herein. 
 11. Withholding. All
payments and distributions under this Agreement are subject to withholding of all applicable taxes. 
 12. Governing Law.
This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware without reference to its principles of conflict of laws. 
 13. Binding Effect. This Agreement shall be binding upon, and inure to the benefit of, the Company and its successors and assigns, and upon any person acquiring, whether by merger, consolidation,
purchase of assets or otherwise, all or substantially all of the Company’s assets and business. If any rights exercisable by the Participant or benefits deliverable to the Participant under this Agreement have not been exercised or delivered,
respectively, at the time of the Participant’s death, such rights shall be exercisable by the Designated Beneficiary, and such benefits shall be delivered to the Designated Beneficiary, in accordance with the provisions of this Agreement and
the Plan. The “Designated Beneficiary” shall be the beneficiary or beneficiaries designated by the Participant in a writing filed with the Committee in such form and at such time as the Committee shall require. If a deceased Participant
fails to designate a beneficiary, or if the Designated Beneficiary does not survive the Participant, any benefits distributable to the Participant hereunder shall be distributed to the legal representative or the estate of the Participant. If a
deceased Participant designates a beneficiary but the Designated Beneficiary dies before the complete distribution of benefits to the Designated Beneficiary under this Agreement, then any benefits that would have been distributed to the Designated
Beneficiary shall be distributed to the legal representative or the estate of the Designated Beneficiary. 
 14. Committee
Discretion. The Committee shall have authority, subject to the express provisions of the Plan, to construe this Agreement and the Plan, to establish, amend and rescind rules and regulations relating to the Plan, and to make all other
determinations in the judgment of the Committee necessary or desirable for the administration of the Plan. The 

  
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Committee may correct any defect or supply any omission or reconcile any inconsistency in the Plan or in this Agreement in the manner and to the extent it shall deem expedient to carry the Plan
into effect. All action by the Committee under the provisions of this paragraph shall be conclusive for all purposes. 
 15.
Interpretation and Savings Clause. All terms and conditions of this Agreement applicable to qualified performance-based compensation shall be construed to be in accordance with the qualified performance-based compensation requirements of
Section 162(m) of the Internal Revenue Code, and any offending or non-compliant terms shall be amended, voided and/or reformed to the extent necessary to comply with Section 162(m). Likewise, all terms and conditions of this Agreement
applicable to any non-qualified deferred compensation shall be construed to be in accordance with the non-qualified deferred compensation requirements of Section 409A of the Internal Revenue Code, including but not limited to its short term
deferral exception, and any offending or non-compliant terms shall be amended, voided and/or reformed to the extent necessary to comply with Section 409A. 
 16. No Right to Continued Service. Nothing in this Agreement shall be deemed to create any limitation or restriction on such rights as the Company otherwise would have to terminate the employment
of the Participant. For purposes of this Agreement, employment by a parent or subsidiary of or a successor to the Company shall be considered employment by the Company. 
 17. Amendment. This Agreement may be amended by written agreement of the Participant and the Company, without the consent of any other person. 

18. Entire Agreement. This Agreement sets forth the entire agreement of the parties with respect to its subject matter, and
supersedes all other agreements and understandings, whether oral or written, by and between the parties relating to the subject matter hereof. 
 19. Severability. In the event any provision of this Agreement is found to be unlawful, void or unenforceable, the remaining provisions of this Agreement shall remain in force and valid.

 PARTICIPANT ACKNOWLEDGES AND UNDERSTANDS THAT THIS AGREEMENT CONTAINS A BINDING ARBITRATION PROVISION THAT MAY BE ENFORCED BY
THE PARTIES. 
 [Remainder of page intentionally left blank] 

  
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 IN WITNESS WHEREOF, the Participant has executed this Agreement, and the Company has caused
these presents to be executed in its name and on its behalf, all as of the Grant Date. 
  

			
	GARDNER DENVER, INC.
		
	By:	 	  

		
	Title:	 	  

	
	PARTICIPANT
		
	Signed:	 	  

		
	Date:	 	  

  
 7EX-10.10

 Exhibit 10.10 

 
 

 
 REGIONS FINANCIAL CORPORATION 

2012 Annual Salary Stock Unit Award Agreement 
 AWARD AGREEMENT dated as of the 14th day of December, 2011 by and between Regions Financial Corporation and
[                    ]. The Company has awarded you annual salary stock units (“Salary Stock Units”) in the form of
restricted stock units (“RSUs”). This Award Agreement sets forth the terms and conditions of the RSUs underlying your Annual Salary Stock Units. 
 1. Annual Salary Stock Units. 
 (a) Beginning as of January 1, 2012,
your Annual Salary Stock Units will accrue and be earned equally over the course of the year, subject to your continued employment. Your Annual Salary Stock Units may be changed from time to time by the Committee, including to increase, decrease or
terminate your Annual Salary Stock Units. Your Annual Salary Stock Units will be given effective January 1, 2012. 
 (b) On
each Grant Date you will be issued RSUs equal to (1) the amount of your Annual Salary Stock Units earned over the relevant payroll period, net of any applicable tax withholdings and deductions (e.g., FICA and FUTA) pursuant to Paragraph 4(a),
divided by (2) the closing price of a share of Common Stock on the New York Stock Exchange on that date (or, if the New York Stock Exchange is closed on the Grant Date, on the last preceding date on which the Common Stock was traded on
that exchange). 
 2. Vesting; Settlement. 
 (a) RSUs granted pursuant to the Award shall be immediately vested on the applicable Grant Date and will be payable solely in cash. 

(b) RSUs granted in respect of a Grant Date will be payable in a single installment, on January 1, 2013, or, if earlier, your death
(a “Payout Date”). If the New York Stock Exchange is closed on a Payout Date, then the applicable installment will be calculated using the closing price of a share of Common Stock on the New York Stock Exchange on the last preceding
date on which the Common Stock was traded on that exchange. If a Payout Date does not occur on a regular payroll date, the payment will be made on the payroll date immediately following the relevant Payout Date, in each case, net of any applicable
tax withholdings and deductions (e.g., income taxes) pursuant to Paragraph 4(a).
 3. Termination. Your rights in respect
of future grants under the Award shall immediately terminate if at any time your employment with the Company terminates for any reason, except that you shall be entitled to receive a final grant of RSUs determined in accordance with Paragraph 1 for
any portion of your Annual Salary Stock Units that you had accrued through the date of your termination of employment but had not yet been paid. In addition, your right to future Annual Salary Stock Units under this Award Agreement will terminate on
December 31, 2012. 
 4. Withholding. 
 (a) The Company will satisfy applicable tax withholdings and make applicable deductions in respect of Annual Salary Stock Units earned by you over a payroll period and issue RSUs pursuant to Paragraph
1(b) in respect of the remainder. On a Payment Date, the Company will satisfy any additional tax withholding applicable to the cash paid to you upon settlement of the RSUs. 
 (b) In all cases, you shall be solely responsible for any applicable taxes (including, without limitation, income and excise taxes) and penalties, and any interest that accrues thereon, that may be
incurred in connection with the issuance of RSUs and the payment of cash upon settlement of the RSUs. 
 5. No Rights to
Continued Employment; Impact on Other Plans. Nothing in this Award Agreement shall be construed as giving you any right to continued employment by the Company or affect any right that the Company may have to terminate or alter the terms and
conditions of your employment. Your Annual Stock Salary Units will be taken into account for purposes of determining benefits under other compensation and benefit plans, programs, policies and arrangements maintained by the Company as provided for
in each such plan as determined by the Company in its sole discretion. 

  
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 6. Amendment; Committee Discretion. The Committee may at any time amend the terms and
conditions set forth in this Award Agreement; provided that, notwithstanding the foregoing, no such amendment shall materially adversely affect your rights and obligations under this Award Agreement with respect to amounts that you have
already earned and accrued without your prior written consent (or the consent of your estate, if such consent is obtained after your death) and any such amendment shall be made in accordance with Section 409A of the Internal Revenue Code of
1986, as amended. Any amendment of this Award Agreement shall be in writing signed by an authorized member of the Committee or a person or persons designated by the Committee. Subject to the other provisions of this Paragraph 6, the Committee shall
have full discretion with respect to any actions to be taken or determinations to be made in connection with this Award Agreement, and its determinations shall be final, binding and conclusive.

7. Governing Law. THIS AWARD SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT
REGARD TO PRINCIPLES OF CONFLICTS OF LAWS. 
 8. TARP Restrictions. Compensation under this Award Agreement is
subject to applicable regulations issued by the U.S. Department of the Treasury and applicable requirements of agreements between the Company and the U.S. government, as the same are in effect from time to time. You may receive compensation under
this Award Agreement only to the extent that it is consistent with those regulations and requirements. 
 9. Definitions.
The following terms shall have the meanings set forth below: 
 “Award” means the award of Annual Salary
Stock Units pursuant to this Award Agreement. 
 “Award Agreement” means this award agreement, as it may
be amended, supplemented or replaced from time to time. 
 “Committee” means the Compensation Committee
of the Board of Directors of Regions, including any substitute or successor committee or any action by the Board of Directors of Regions in the capacity of such committee. 
 “Common Stock” means the common stock of Regions, par value $.01 per share, and any other securities or property issued in exchange therefor or in lieu thereof. 

“Grant Date” means each date that your base salary with the Company is payable in accordance with
the Company’s payroll practices then in effect. 
 “Regions” or the
“Company” means Regions Financial Corporation. 
 IN WITNESS
WHEREOF, the Company has caused this Award Agreement to be duly executed and delivered as of December 14, 2011. 

 

			
	REGIONS FINANCIAL CORPORATION
	
	  

	By:	 	O. B. Grayson Hall, Jr.
	Title:	 	President and Chief Executive Officer

  

					
	Recipient:	  	<name>	  	
			
	Annual Salary Stock Units:	  	$ per year	  	
			
	Agreed:	  	  
	  	
		  	Signature	  	

  
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