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Exhibit 10.3

STOCK OPTION AGREEMENT
FOR THE GRANT OF
NON-QUALIFIED STOCK OPTIONS UNDER THE
POOL CORPORATION
AMENDED AND RESTATED 2007 LONG-TERM INCENTIVE PLAN
THIS AGREEMENT is entered into and effective as of _DATE_by and between Pool Corporation, a Delaware corporation (the “Company”), and First Name Last Name (the “Optionee”).
WHEREAS Optionee is a key employee of the Company and the Company considers it desirable and in its best interest that Optionee be given an inducement to acquire a proprietary interest in the Company and an incentive to advance the interests of the Company by possessing an option to purchase shares of the common stock of the Company, $.001 par value per share (the “Common Stock”) in accordance with the Pool Corporation Amended and Restated 2007 Long-Term Incentive Plan (the “Plan”).
NOW, THEREFORE, in consideration of the premises, it is agreed by and between the parties as follows:
I
Grant of Option
In consideration of future services and other covenants contained herein, the Company hereby grants to Optionee effective as of the date hereof (the “Date of Grant”) the right, privilege and option to purchase # shares of Common Stock (the “Option”) at an exercise price of $$$$ per share (the “Exercise Price”).  The Option shall be exercisable at the time specified in Section II below.  The Option is a non-qualified stock option and shall not be treated as an incentive stock option under Section 422 of the Internal Revenue Code.  Any capitalized term used herein, but not defined herein, shall have the meaning provided in the Plan.
II
Time of Exercise
2.1Subject to the provisions of the Plan and the other provisions of this Section II, the Option shall become vested and exercisable beginning on the dates set forth below, provided Optionee continues to be an employee or to perform services for the Company on such dates:

[50% of the Option will vest on Vesting Date 1 and the other 50% of the Option will vest on Vesting Date 2]

[the Option will vest on Vesting Date1]
2.2During Optionee's lifetime, the Option may be exercised only by him, his guardian if he has been declared incompetent or by a permitted transferee under Article VI hereof.  In the event of death, the Option may be exercised as provided herein by the Optionee’s estate or by the person to whom such right devolves as a result of the Optionee’s death.
2.3If the Optionee ceases to be an employee of, or to perform other services for, the Company or a Subsidiary of the Company:
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(a)due to death or Disability, the Option shall become fully vested and exercisable and shall remain exercisable for, and shall otherwise terminate on the original expiration date of such Option; 
(b)as a result of termination by the Company or a Subsidiary for Cause, the Option shall be forfeited immediately upon such cessation, whether or not then exercisable;
(c)unless Section 2.3(e) applies, due to Retirement, provided that the Optionee does not engage in Competition directly or indirectly with the Company, as determined by the Compensation Committee (“the Committee”) or the President of the Company (i) the Option, to the extent vested and exercisable on the date of Retirement, shall remain exercisable for, and shall otherwise terminate on the original expiration date of such Option; and (ii) the portion of the Option that was not vested and exercisable on the date of Retirement shall continue to vest in accordance with the original vesting schedule and shall remain exercisable for, and shall otherwise terminate on the original expiration date of such Option; and 
(d)unless Section 2.3(e) applies, for any reason other than death, Disability, Retirement or Cause, provided that the Optionee does not engage in Competition directly or indirectly with the Company, as determined by the Committee or the President of the Company (i) the portion of the Option that was vested and exercisable on the date of such cessation shall remain exercisable for, and shall otherwise terminate (x) 90 days from the date of such cessation of employment or if earlier, the original expiration date of such Option or (y) if so determined by the Committee upon the recommendation of the President of the Company, for a period not to exceed the original expiration date of such Option and (ii) the portion of the Option that was not vested and exercisable on the date of such cessation shall immediately terminate, except that such unvested portion of the Option may continue to vest in accordance with the original vesting schedule and remain exercisable for, and otherwise terminate on the original expiration date of such Option, if so determined by the Committee upon the recommendation of the President of the Company.
(e)as a result of the Optionee’s termination by the Company or a Subsidiary without Cause or by the Optionee for Good Reason, in either case within 2 years following a Change of Control, the Option shall become fully vested and exercisable and shall remain exercisable for, and shall otherwise terminate on the original expiration date of such Option.
provided, however, that under no circumstances may the Option be exercised later than ten years after the Date of Grant.
2.4For purposes of this Agreement:
(a)“Cause” shall mean (i) conviction of a felony or any crime or offense lesser than a felony involving the property of the Company or a Subsidiary; (ii) conduct that has caused demonstrable and serious injury to the Company or a Subsidiary, monetary or otherwise; (iii) willful refusal to perform or substantial disregard of duties properly assigned, as determined by the Board of Directors (“the Board”); or (iv) breach of duty of loyalty to the Company or a Subsidiary or other act of fraud or dishonesty with respect to the Company or a Subsidiary.  The determination as to whether the Optionee was terminated for Cause shall be made by the President and/or the Board in his/her/its sole discretion.
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(b)“Competition” is deemed to occur if an Optionee, who ceases to be employed by the Company or its Subsidiaries or who ceases to provide services to the Company or its Subsidiaries, engages in activity that is competitive with any business conducted by the Company.  The following non-exclusive activities are deemed to be “competitive with” the Company:  
(i) Optionee obtains a position as a full-time or part-time employee of a corporation, partnership, firm or other entity that engages in any of the businesses of the Company or any Subsidiary; 
(ii) Optionee obtains a position as a full-time or part-time employee of a corporation, partnership, firm or other entity doing or seeking to do business with the Company or any Subsidiary; 
(iii) Optionee serves as a member of the board of directors of a corporation, partnership, firm or other entity that engages in any of the businesses of the Company or any Subsidiary; 
(iv) Optionee serves as a member of the board of directors of a corporation, partnership, firm or other entity doing or seeking to do business with the Company or any Subsidiary; 
(v) Optionee serves as a consultant or advisor to a corporation, partnership, firm or other entity that engages in any of the businesses of the Company or any Subsidiary; 
(vi) Optionee serves as a consultant or advisor to a corporation, partnership, firm or other entity doing or seeking to do business with the Company or any Subsidiary; 
(vii) Optionee acquires an ownership interest in the lesser of 5% or $1 million of a corporation, partnership, firm or other entity that engages in any of the businesses of the Company or any Subsidiary; or 
(viii) Optionee acquires an ownership interest in the lesser of 5% or $1 million of a corporation, partnership, firm or other entity doing or seeking to do business with the Company or any Subsidiary. 
(c)“Disability” shall mean a disability that would entitle Optionee to payment of disability payments under the Company’s or a Subsidiary’s long-term disability plan or as otherwise determined by the Committee.
(d)“Good Reason” shall mean either of the following (without Optionee’s express written consent): (i) a diminution in Optionee’s base salary as of the day immediately preceding the Change of Control, (ii) a diminution in the Optionee’s authority, duty or responsibilities as they existed immediately preceding the Change of Control, or (iii) the Company’s requiring Optionee to be based at any office or location more than 50 miles from Optionee’s principal office or location as of the day immediately preceding the Change of Control. Notwithstanding the foregoing, Optionee shall not have the right to terminate Optionee’s employment hereunder for Good Reason unless (1) within 30 days of the initial existence of the condition or conditions giving rise to such right Optionee provides written notice to the Company of the existence of such condition or conditions, and (2) the Company fails to remedy such condition or conditions within 30 days following the receipt of such written notice (the “Cure 
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Period”). If any such condition is not remedied within the Cure Period, Optionee must terminate Optionee’s employment with the Company within a reasonable period of time, not to exceed 30 days, following the end of the Cure Period.  
(e)“Retirement” shall mean termination of the Optionee’s employment if the Optionee has been employed by the Company or a Subsidiary on a continuous basis for a period of at least ten years the Optionee has attained the age of 55 years and if Retirement shall occur within one year of the date of this grant [2 years in the case of the CEO], the Optionee has provided the Company with a minimum of one year advance written notice of Optionee’s intention to retire.
(f) “Subsidiary” shall mean any corporation or other entity of which the Company owns securities having a majority of the ordinary voting power in electing the board of directors or similar governing body, either directly or through one or more Subsidiaries.
2.5The Option shall expire and may not be exercised later than ten years following the Date of Grant.
III
Method of Exercise of Option
3.1(a)    Optionee may exercise all or a portion of the Option by delivering to the Company a signed written notice of his intention to exercise the Option, specifying therein the number of shares to be purchased.  Upon receiving such notice, and after the Company has received full payment of the Exercise Price, the appropriate officer of the Company shall cause the transfer of title of the shares purchased to Optionee on the Company's stock records and cause to be issued to Optionee a stock certificate for the number of shares being acquired.  Optionee shall not have any rights as a shareholder until the stock certificate is issued to him.
(b)    Optionee acknowledges and understands that the Company prohibits the exercise of any options on or within five (5) business days of any record date set by the Company and Optionee agrees that it will not exercise all or a portion of the Option on or within five (5) business days of any record date set by the Company.  If the Option shall expire within such period, Optionee further understands and agrees that the Option must be exercised prior to such period.
3.2The Option may be exercised, as provided in the Plan, by the payment of the Exercise Price in cash, in shares of Common Stock held for six months or in a combination of cash and shares of Common Stock held for six months.  The Optionee may also pay the Exercise Price by delivering a properly executed exercise notice together with irrevocable instructions to a broker approved by the Company (with a copy to the Company) to promptly deliver to the Company the amount of sale or loan proceeds to pay the Exercise Price or by a Net Share Exercise.
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IV
No Contract of Employment Intended
Nothing in this Agreement shall confer upon Optionee any right to continue in the employment of the Company or any of its subsidiaries, or to interfere in any way with the right of the Company or any of its subsidiaries to terminate Optionee's employment relationship with the Company or any of its subsidiaries at any time.
V
Binding Effect
This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, administrators and successors.
VI
Non-Transferability
The Option granted hereby may not be transferred, assigned, pledged or hypothecated in any manner, by operation of law or otherwise, other than by will, by the laws of descent and distribution or pursuant to a domestic relations order, as defined in the Code, or (i) to Family Members, (ii) to a partnership in which the participant and/or Family Members, or entities in which the participant and/or Family Members are the sole owners, members or beneficiaries, as appropriate, are the sole partners, (iii) to a limited liability company in which the participant and/or Family Members, or entities in which the participant and/or Family Members are the sole owners, members or beneficiaries, as appropriate, are the sole members, (iv) to a trust for the sole benefit of the participant and/or Family Members or (v) to a charitable organization.  Any attempted assignment, transfer, pledge, hypothecation or other disposition of Incentives, or levy of attachment or similar process upon Incentives not specifically permitted herein, shall be null and void and without effect. 

VII
Electronic Delivery and Signatures
    Optionee hereby consents and agrees to electronic delivery of any Plan documents, proxy materials, annual reports and other related documents.  If the Company establishes procedures for an electronic signatures system for delivery and acceptance of Plan documents (including documents relating to any programs adopted under the plan), Optionee hereby consents to such procedures and agrees that his or her electronic signatures is the same as, and shall have the same force and effect as, his or her manual signature.  Optionee consents and agrees that any such procedures and delivery may be effected by a third party engaged by the Company to provide administrative services related to the Plan, including any program adopted under the Plan.
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VIII
Inconsistent Provisions
The Option granted hereby is subject to the provisions of the Plan as in effect on the date hereof and as it may be amended.  In the event any provision of this Agreement conflicts with such a provision of the Plan, the Plan provision shall control.
IX
Governing Law
This Agreement shall be governed and construed in accordance with the laws of the State of Delaware, without regard to principles of conflict of laws, to the extent federal law does not supersede and preempt Delaware law.  The parties acknowledge and agree that Delaware has a material relationship to this Agreement because, among other reasons, the Company is organized and existing under the laws of the State of Delaware.  
X
Severability
    In the event that any provision of this Agreement shall be held illegal, invalid, or unenforceable for any reason, such provision shall be fully severable, but shall not affect the remaining provisions of this Agreement and this Agreement shall be construed and enforced as if the illegal, invalid, or unenforceable provision had never been included herein.

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IN WITNESS WHEREOF the parties hereto have caused this Agreement to be executed on the day and year first above written.

    POOL CORPORATION

    By:    
    Name:
           Title:

        
    Optionee

[Optionee acknowledges and agrees that by clicking the "ACCEPT" button on the E*TRADE on-line Grant Acceptance page, it will act as Optionee's electronic signature to this Agreement and will constitute Optionee's acknowledgement and agreement that the Optionee has read the Stock Option Agreement and the Plan Documents and agrees to their terms and conditions.]

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Exhibit 10.4

THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING SECURITIES THAT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933.

PERFORMANCE-BASED RESTRICTED STOCK AGREEMENT
(PURSUANT TO THE TERMS OF THE
POOL CORPORATION 
AMENDED AND RESTATED 2007 LONG-TERM INCENTIVE PLAN)

This PERFORMANCE-BASED RESTRICTED STOCK AGREEMENT (this “Agreement”) is between Pool Corporation, a Delaware corporation (“Company”), and _____________(“Recipient”), and is dated as of the date set forth immediately above the signatures below.

1.    Grant of Performance-Based Restricted Stock. The Company hereby grants to Recipient all rights, title and interest in the record and beneficial ownership of ________ shares (the “Performance-Based Restricted Stock” or the “Incentive”) of common stock, $.001 par value per share, of Company (“Common Stock”) subject to the conditions described in Paragraphs 4 and 5 as well as the other provisions of this Agreement. The Performance-Based Restricted Stock is granted pursuant to and to implement in part Pool Corporation’s Amended and Restated 2007 Long-Term Incentive Plan (as amended and in effect from time to time, the “Plan”) and is subject to the provisions of the Plan, which is hereby incorporated herein and is made a part hereof, as well as the provisions of this Agreement. Recipient agrees to be bound by all of the terms, provisions, conditions and limitations of the Plan and this Agreement and in the event of any inconsistency, the provisions of the Plan shall control. All capitalized terms have the meanings set forth in the Plan unless otherwise specifically provided. All references to specified paragraphs pertain to paragraphs of this Agreement unless otherwise specifically provided. 

2.    Custody of Performance-Based Restricted Stock. Upon satisfaction of the vesting conditions set forth in Paragraph 4 or as otherwise set forth in Paragraph 5(b) or 5(c), Company shall issue and deliver to Recipient a certificate or certificates for such number of shares of Common Stock as are required to be issued and delivered under this Agreement. Prior to the satisfaction of such vesting conditions or the occurrence of such events, the Performance-Based Restricted Stock is not transferable and shall be held in trust. 

3.    Risk of Forfeiture. Subject to Paragraph 5, should Recipient's employment (defined below) with Company and each Subsidiary (defined below) terminate prior to the vesting dates set forth in Paragraph 4, Recipient shall forfeit the Performance-Based Restricted Stock that would otherwise have vested on such dates. 

4.    Vesting Dates. 
a.    Subject to Paragraph 5, if the Performance Goal set forth in Section 4(b) has been met as of the end of the Initial Performance Period or, if applicable, the end of the Extended Performance Period ending December 31, 20[ ] (as such terms are defined below), the shares of Performance-Based Restricted Stock subject to this Agreement shall vest as follows: [in full on the 5th anniversary of the date of grant OR 50% on the anniversary of the grant date immediately 

following the end of performance period in which the Performance Goal is met and 50% on the 5th anniversary of the date of grant].  If the Performance Goal set forth in Section 4(b) has been met as of the end of an Extended Performance Period ending December 31, 20[ ] or after, the shares of Performance-Based Restricted Stock subject to this Agreement shall vest in full on the anniversary of the grant date immediately following the end of such performance period.  Notwithstanding the above, no shares shall vest unless and until the Compensation Committee (the “Committee”) has made the certification required by Paragraph 4(d).
b.    Except as otherwise provided in this Agreement, the Performance-Based Restricted Stock shall not vest as of the vesting dates set forth in Paragraph 4(a) unless the Company’s return on invested capital for the three-year period beginning January 1, 20[ ] through December 31, 20[ ] (the “Initial Performance Period”) equals or exceeds [10%] (the “Performance Goal”). If the Performance Goal is not met as of the end of the Initial Performance Period, the Initial Performance Period will be extended for additional one-year periods (each, an “Extended Performance Period”), until the earlier of (i) the end of the Extended Performance Period during which the Performance Goal has been met, or (ii) December 31, 20[ ].  If the Performance Goal is not met as of the end of the Extended Performance Period ending December 31, 20[ ], then all shares of Performance-Based Restricted Stock will be immediately forfeited and canceled.  
c.    For purposes of this Agreement, “return on invested capital” shall be defined as net income before interest and other non-operating expenses, net of taxes divided by total long-term debt plus stockholders equity at the end of the calendar year, subject to any adjustments pursuant to Section 8.2 of the Plan.
d.    Following the end of the Initial Performance Period, and any Extended Performance Period, if applicable, the Committee shall determine whether the Performance Goal has been achieved as of the end of such period.  

5.    Termination of Employment; Change of Control. Voluntary or involuntary termination of employment, retirement, death or Disability of Recipient, or termination of employment for Cause or with Good Reason following a Change of Control, shall affect Recipient's rights under this Agreement as follows: 
a.    Voluntary or Involuntary Termination. If, other than as specified below or as otherwise determined by the Committee, Recipient voluntarily terminates employment (defined below) or if Recipient's employment is terminated involuntarily, then Recipient shall forfeit the right to receive all shares of Performance-Based Restricted Stock that have not theretofore vested pursuant to Paragraph 4.  
b.    Change of Control. If a Change of Control shall occur, then the performance condition in Paragraph 4(b) shall be waived, but the conditions set forth in Paragraph 4(a) shall continue to apply, except as set forth below. If the Recipient’s employment is terminated by the Company or a Subsidiary without Cause or by the Recipient for Good Reason within two years following the Change of Control, then all non-vested Incentives granted under this Agreement shall fully vest as of such termination date, all restrictions (other than those described in Paragraph 9) applicable to such Incentives shall terminate and Company shall release from escrow or trust and shall transfer to Recipient via book entry the shares of Common Stock represented by such vested Incentives and, upon Recipient’s request, the Company shall cause a stock certificate or certificates to be issued in the name of Recipient. 
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c.    Death or Disability. If Recipient's employment is terminated by death or Disability, then immediately all nonvested Performance-Based Restricted Stock shall fully vest, all restrictions (other than described in Paragraph 9) applicable to Performance-Based Restricted Stock shall terminate and Company shall release from escrow or trust and transfer to Recipient, or in the case of death, to the person or persons to whom Recipient's rights under this Agreement shall pass by will or by the applicable laws of descent and distribution, or in the case of Disability, to Recipient's personal representative, via book entry the shares of Common Stock represented by such vested Performance-Based Restricted Stock  and, upon request, the Company shall cause a stock certificate or certificates to be issued in the name of such person or persons.  
d.    Retirement.  If Recipient’s employment is terminated by Retirement, provided that the Recipient does not engage in Competition directly or indirectly with the Company, as determined by the Committee or the President of the Company, the Performance-Based Restricted Stock not vested on the date of Retirement shall not be forfeited but shall continue to vest subject to the vesting schedule and attainment of the performance condition set forth in Paragraph 4, and provided the other conditions of Paragraph 4 are met, all restrictions (other than described in Paragraph 9) applicable to Performance-Based Restricted Stock shall terminate and Company shall release from escrow or trust and shall transfer to Recipient, via book entry the shares of Common Stock represented by such vested Performance-Based Restricted Stock  and, upon request, the Company shall cause a stock certificate or certificates to be issued in the name of Recipient. 
e.    Definition of Employment. For purposes of this Agreement, “employment” means employment by Company or a Subsidiary. In this regard, neither the transfer of Recipient from employment by Company to employment by a Subsidiary nor the transfer of Recipient from employment by a Subsidiary to employment by Company shall be deemed to be a termination of employment of Recipient. Moreover, the employment of Recipient shall not be deemed to have been terminated because of absence from active employment on account of temporary illness or during authorized vacation or during temporary leaves of absence from active employment granted by Company or a Subsidiary for reasons of professional advancement, education, health, or government service, or during military leave for any period if Recipient returns to active employment within 90 days after the termination of military leave, or during any period required to be treated as a leave of absence by virtue of any valid law or agreement. The Committee’s determination in good faith regarding whether a termination of employment of any type or Disability has occurred shall be conclusive and determinative. 
f.    Definition of Competition.  For purposes of this Agreement, “Competition” is deemed to occur if a Recipient, who ceases to be employed by the Company or its Subsidiaries or who ceases to provide services to the Company or its Subsidiaries, engages in activity that is competitive with any business conducted by the Company.  The following non-exclusive activities are deemed to be “competitive with” the Company:  
(i) Optionee obtains a position as a full-time or part-time employee of a corporation, partnership, firm or other entity that engages in any of the businesses of the Company or any Subsidiary; 
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(ii) Optionee obtains a position as a full-time or part-time employee of a corporation, partnership, firm or other entity doing or seeking to do business with the Company or any Subsidiary; 
(iii) Optionee serves as a member of the board of directors of a corporation, partnership, firm or other entity that engages in any of the businesses of the Company or any Subsidiary; 
(iv) Optionee serves as a member of the board of directors of a corporation, partnership, firm or other entity doing or seeking to do business with the Company or any Subsidiary; 
(v) Optionee serves as a consultant or advisor to a corporation, partnership, firm or other entity that engages in any of the businesses of the Company or any Subsidiary; 
(vi) Optionee serves as a consultant or advisor to a corporation, partnership, firm or other entity doing or seeking to do business with the Company or any Subsidiary; 
(vii) Optionee acquires an ownership interest in the lesser of 5% or $1 million of a corporation, partnership, firm or other entity that engages in any of the businesses of the Company or any Subsidiary;  or 
(viii) Optionee acquires an ownership interest in the lesser of 5% or $1 million of a corporation, partnership, firm or other entity doing or seeking to do business with the Company or any Subsidiary. 
g.    Definition of Retirement.  For purposes of this Agreement, “Retirement” shall mean termination of the Recipient’s employment if the Recipient has been employed by the Company or a Subsidiary on a continuous basis for a period of at least ten years, the Recipient has attained the age of 55 years, and if Retirement shall occur within one year of the date of this grant [2 years in the case of the CEO], the Recipient has provided the Company with a minimum of one year advance written notice of Recipient’s intention to retire.
h.    Definition of Disability.    For purposes of this Agreement, “Disability” shall mean a disability that would entitle the Recipient to the payment of disability payments under the Company’s or Subsidiary’s long-term disability plan or as otherwise determined by the Committee.
i.    Definition of Subsidiary.    For purposes of this Agreement, “Subsidiary” shall mean any corporation or other entity of which the Company owns securities having a majority of the ordinary voting power in electing the board of directors or similar governing body, either directly or through one or more Subsidiaries.
j.    Definition of Cause.    For purposes of this Agreement, “Cause” shall mean (i) conviction of a felony or any crime or offense lesser than a felony involving the property of the Company or a Subsidiary; (ii) conduct that has caused demonstrable and serious injury to the Company or a Subsidiary, monetary or otherwise; (iii) willful refusal to perform or substantial disregard of duties properly assigned, as determined by the Board of Directors (“the Board”); or (iv) breach of duty of loyalty to the Company or a Subsidiary or other act of fraud or 
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dishonesty with respect to the Company or a Subsidiary.  The determination as to whether the Recipient was terminated for Cause shall be made by the President and/or the Board in its sole discretion. 
k.    Definition of Good Reason.    For purposes of this Agreement, “Good Reason” shall mean either of the following (without Recipient’s express written consent): (i) a material diminution in Recipient’s base salary as of the day immediately preceding the Change of Control, (ii) a material diminution in the Recipient’s authority, duty or responsibilities as they existed the day immediately preceding the Change of Control, or (iii) the Company’s requiring Recipient to be based at any office or location more than 50 miles from Recipient’s principal office or location as of the day immediately preceding the Change of Control. Notwithstanding the foregoing, Recipient shall not have the right to terminate Recipient’s employment hereunder for Good Reason unless (1) within 30 days of the initial existence of the condition or conditions giving rise to such right Recipient provides written notice to the Company of the existence of such condition or conditions, and (2) the Company fails to remedy such condition or conditions within 30 days following the receipt of such written notice (the “Cure Period”). If any such condition is not remedied within the Cure Period, Recipient must terminate Recipient’s employment with the Company within a reasonable period of time, not to exceed 30 days, following the end of the Cure Period.  

6.    Ownership Rights. Subject to the restrictions set forth herein and subject to Paragraph 9, Recipient is entitled to all voting and ownership rights applicable to the Performance-Based Restricted Stock, including the right to receive any dividends that may be paid on Performance-Based Restricted Stock, whether or not vested.  

7.    Reorganization of Company and Subsidiaries. The existence of this Agreement shall not affect in any way the right or power of Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in Company's capital structure or its business, or any merger or consolidation of Company or any issue of bonds, debentures, preferred or prior preference stock ahead of or affecting the Performance-Based Restricted Stock or the rights thereof, or the dissolution or liquidation of Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 

8.    Adjustment of Shares. Except in the case of a Change of Control as otherwise provided in the Plan or herein, in the event of stock dividends, spin-offs of assets or other extraordinary dividends, stock splits, combinations of shares, recapitalizations, mergers, consolidations, reorganizations, liquidations, issuances of rights or warrants and similar transactions or events involving Company (“Recapitalization Events”), then for all purposes references herein to Common Stock or to Performance-Based Restricted Stock shall mean and include all securities or other property that holders of Common Stock of Company are entitled to receive in respect of Common Stock by reason of each successive Recapitalization Event, which securities or other property shall be treated in the same manner and shall be subject to the same restrictions as the underlying Performance-Based Restricted Stock. 

9.     Certain Restrictions. By accepting the Performance-Based Restricted Stock, Recipient agrees that if at the time of delivery of certificates for shares of Performance-
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Based Restricted Stock issued hereunder any sale of such shares is not covered by an effective registration statement filed under the Securities Act of 1933 (the “Act”), Recipient will acquire the Performance-Based Restricted Stock for Recipient's own account and without a view to resale or distribution in violation of the Act or any other securities law, and upon any such acquisition Recipient will enter into such written representations, warranties and agreements as Company may reasonably request in order to comply with the Act or any other securities law or with this Performance-Based Restricted Stock Agreement. 

10.     Nontransferability of Incentive. This Incentive is not transferable other than by will, the laws of descent and distribution or by domestic relations order, as defined in the Code. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, or torts of Recipient.

11.     Amendment and Termination. No amendment or termination of this Agreement which would impair the rights of Recipient shall be made by the Committee at any time without the written consent of Recipient. No amendment or termination of the Plan will adversely affect the right, title and interest of Recipient under this Agreement or to Performance-Based Restricted Stock granted hereunder without the written consent of Recipient. If the Performance-Based Restricted Stock is intended to qualify as performance-based compensation under Section 162(m) of the Internal Revenue Code (“the Code”), the Committee may not use its discretion to increase the compensation payable to Recipient hereunder in violation of the “performance-based compensation” requirements of Section 162(m) of the Code.

12.     No Guarantee of Employment. This Agreement shall not confer upon Recipient any right with respect to continuance of employment or other service with Company or any Subsidiary, nor shall it interfere in any way with any right Company or any Subsidiary would otherwise have to terminate such Recipient's employment or other service at any time.

13.     Withholding of Taxes. Company shall have the right to (i) make deductions from the number of shares of Common Stock otherwise deliverable upon satisfaction of the conditions precedent under this Agreement (and other amounts payable under this Agreement) in an amount sufficient to satisfy required withholding of any federal, state or local taxes required by law, or (ii) take such other action as may be necessary or appropriate to satisfy any such tax withholding obligations.

14.     No Guarantee of Tax Consequences. Neither Company nor any Subsidiary nor the Committee makes any commitment or guarantee that any federal or state tax treatment will apply or be available to any person eligible for benefits under this Agreement.

15.     Severability. In the event that any provision of this Agreement shall be held illegal, invalid, or unenforceable for any reason, such provision shall be fully severable, but shall not affect the remaining provisions of this Agreement and this Agreement shall be construed and enforced as if the illegal, invalid, or unenforceable provision had never been included herein.
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16.     Governing Law. This Agreement shall be governed and construed in accordance with the laws of the State of Delaware, without regard to principles of conflict of laws, to the extent federal law does not supersede and preempt Delaware law.  The parties acknowledge and agree that Delaware has a material relationship to this Agreement because, among other reasons, the Company is organized and existing under the laws of the State of Delaware.  

17.     Section 83(b) Election.  Recipient has reviewed with Recipient’s own tax advisors the federal, state, local and foreign tax consequences of this investment and the transactions contemplated by this Agreement.  Recipient is relying solely on such advisors and not on any statements or representations of Company or any of its agents.  Recipient understands that Recipient (and not Company) shall be responsible for Recipient’s own tax liability that may arise as a result of the transactions contemplated by this Agreement.  Recipient understands that Recipient may elect to be taxed at the time the shares are granted by filing an election under Section 83(b) of the Code with the IRS within thirty days from the date of grant.  Recipient acknowledges that it is Recipient’s sole responsibility and not Company’s to file timely the election under Section 83(b), even if Recipient requests Company or its representatives, to make this filing on Recipient’s behalf.

18.    Clawback Policy.    This Agreement and the Performance-Based Restricted Stock granted hereunder shall be subject to the clawback policy included in Company’s Corporate Governance Guidelines, to the extent such policy is applicable to Recipient.

19.     Miscellaneous Provisions.
(a)     Not a Contract of Employment; No Acquired Rights. The adoption and maintenance of the Plan or this Agreement shall not be deemed to be a contract of employment between Company or any of its Subsidiaries and any person. Receipt of an Incentive under the Plan at any given time shall not be deemed to create the right to receive in the future an Incentive under the Plan, or any other incentive awards granted to an employee of Company or any of its Subsidiaries, and shall not constitute an acquired labor right for purposes of any foreign law. The Plan shall not afford any recipient of an Incentive any additional right to severance payments or other termination awards or compensation under any foreign law as a result of the termination of such recipient's employment for any reason whatsoever.
(b)     Not a Part of Salary. The value of the Performance-Based Restricted Stock granted pursuant to this Agreement shall not be included as compensation, earnings, salaries or other similar terms used when calculating Recipient’s benefits under any employee benefit plan sponsored by Company except as such plan otherwise expressly provides.
(c)     Electronic Delivery and Signatures. Recipient hereby consents and agrees to electronic delivery of any Plan documents, proxy materials, annual reports and other related documents. If Company establishes procedures for an electronic signature system for delivery and acceptance of Plan documents (including documents relating to any programs adopted under the Plan), Recipient hereby consents to such procedures and agrees that his or her electronic signature is the same as, and shall have the same force and effect as, his or her manual signature. Recipient consents and agrees that any such procedures and delivery may be 
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effected by a third party engaged by Company to provide administrative services related to the Plan, including any program adopted under the Plan. 

IN WITNESS WHEREOF, the parties have entered into this Performance-Based Restricted Stock Agreement as of the [  ] day of [          ], 20___.
 
“COMPANY”
POOL CORPORATION
By: __________________________________
Name:
Title:
 
“Recipient”
_____________________________________
Name: 

[Recipient acknowledges and agrees that by clicking the "ACCEPT" button on the E*TRADE on-line Grant Acceptance page, it will act as Recipient 's electronic signature to this Agreement and will constitute Recipient 's acknowledgement and agreement that the Recipient has read the Performance-Based Restricted Stock Agreement and the Plan Documents and agrees to their terms and conditions.]

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