Document:

EX-10.17

 Exhibit 10.17 
 STANCORP FINANCIAL GROUP, INC. 
 LONG-TERM INCENTIVE AWARD
AGREEMENT 

(                    
Performance Period) 
  
 This Long-Term Incentive
Award Agreement (this “Agreement”) is made effective as of February 11, 2013 between StanCorp Financial Group, Inc., an Oregon corporation (the “Company”) and
                         (the “Employee”). 

 
 On
                                , the Organization and Compensation Committee (the
“Committee”) of the Company’s Board of Directors (the “Board”) gave final approval for a performance-based award to the Employee pursuant to Section 8 of the Company’s 2002 Stock Incentive Plan (the
“Plan”). Compensation paid pursuant to the award is intended to qualify as performance-based compensation under Section 162(m) of the Internal Revenue Code of 1986 (the “Code”). Employee desires to accept the award subject
to the terms and conditions of this Agreement. 
  
 In
consideration of the agreements set forth below, the Company and the Employee agree as follows: 
  
 1.     Award.    Subject to the terms and conditions of this Agreement, the Company shall issue to the Employee the number of shares of common stock
(“Common Stock”) of the Company (“Performance Shares”) determined under this Agreement based on (a) the Company’s performance during the three-year period from
                                 to
                             (the “Performance Period”) as described in Section 2, and
(b) Employee’s continued employment through the Performance Period as described in Section 3. Recipient’s “Target Share Amount” for purposes of this Agreement is
                                 shares. 

 
 2.     Performance Conditions.

  
 2.1    Subject to
Section 3 and Section 4, the number of Performance Shares to be issued to the Employee shall be determined by multiplying the Target Share Amount by the Payout Factor determined under the following formula: 

 
 Payout Factor = (40% * TSR PF) +
(40% * ROE PF) + (20% * Premium Growth PF) 
  

where the “TSR PF,” the “ROE PF” and the “Premium Growth PF” are determined under the following table based on the
Company’s TSR Rank, ROE Rank and Premium Growth Rank, respectively (each as defined below), for the Performance Period. 

  
 1 

															
	TSR Rank	  	TSR PF	  	 	  	ROE Rank	  	ROE PF	  	 	  	 Premium
 Growth Rank
	  	 Premium
 Growth PF

	 1
	  	200%	  	 	  	1	  	200%	  	 	  	1	  	200%
	 2
	  	200%	  	 	  	2	  	200%	  	 	  	2	  	200%
	 3
	  	167%	  	 	  	3	  	167%	  	 	  	3	  	167%
	 4
	  	133%	  	 	  	4	  	133%	  	 	  	4	  	133%
	 5
	  	100%	  	 	  	5	  	100%	  	 	  	5	  	100%
	 6
	  	75%	  	 	  	6	  	75%	  	 	  	6	  	75%
	 7
	  	50%	  	 	  	7	  	50%	  	 	  	7	  	50%
	 8
	  	25%	  	 	  	8	  	25%	  	 	  	8	  	25%
	 9
	  	0%	  	 	  	9	  	0%	  	 	  	9	  	0%
	 10
	  	0%	  	 	  	10	  	0%	  	 	  	10	  	0%

  
 If the number of companies to be ranked for
purposes of determining the TSR PF, the ROE PF or the Premium Growth PF is reduced below 10 pursuant to the last two sentences of Section 2.2.2 or the last two sentences of Section 2.4.2, the applicable PF shall be determined under the
relevant columns of the following tables based on the total number of companies remaining to be ranked: 
  

															
	9 Companies to be Ranked	  	 	  	8 Companies to be Ranked	  	 	  	7 Companies to be Ranked
	Rank	 	PF	  	 	  	Rank	  	PF	  	 	  	Rank	  	PF
	1	 	200%	  	 	  	1	  	200%	  	 	  	1	  	200%
	2	 	200%	  	 	  	2	  	167%	  	 	  	2	  	167%
	3	 	167%	  	 	  	3	  	133%	  	 	  	3	  	133%
	4	 	133%	  	 	  	4	  	100%	  	 	  	4	  	100%
	5	 	100%	  	 	  	5	  	75%	  	 	  	5	  	63%
	6	 	63%	  	 	  	6	  	50%	  	 	  	6	  	25%
	7	 	25%	  	 	  	7	  	25%	  	 	  	7	  	0%
	8	 	0%	  	 	  	8	  	0%	  	 	  	 	  	 
	9	 	0%	  	 	  	 	  	 	  	 	  	 	  	 

  

															
	6 Companies to be Ranked	  	 	  	5 Companies to be Ranked	  	 	  	4 Companies to be Ranked
	Rank	 	PF	  	 	  	Rank	  	PF	  	 	  	Rank	  	PF
	1	 	200%	  	 	  	1	  	200%	  	 	  	1	  	200%
	2	 	150%	  	 	  	2	  	150%	  	 	  	2	  	100%
	3	 	100%	  	 	  	3	  	100%	  	 	  	3	  	25%
	4	 	63%	  	 	  	4	  	25%	  	 	  	4	  	0%
	5	 	25%	  	 	  	5	  	0%	  	 	  	 	  	 
	6	 	0%	  	 	  	 	  	 	  	 	  	 	  	 

  

2.2        TSR Rank. 

 
 2.2.1    To determine the Company’s
“TSR Rank,” the TSR (as defined below) of the Company and each of the Peer Group Companies (as defined below) shall be calculated, and the Company and the Peer Group Companies shall be ranked from “1” to “10” based on
their respective TSRs with “1” being the company with the highest TSR. 

  
 2 

 2.2.2    The “Peer Group Companies” are: 

 

			
	 Assurant, Inc.
	  	The Hartford Financial Services Group, Inc.
	 Lincoln National Corporation
	  	MetLife, Inc.
	 Principal Financial Group, Inc.
	  	Protective Life Corporation
	 Prudential Financial, Inc.
	  	Symetra Financial Corporation
	 Unum Group
	  	 

  
 If prior to the end of the Performance
Period, any Peer Group Company ceases to be a public reporting company for any reason, then such company shall not be considered a Peer Group Company. In addition, if as of the last day of the Performance Period, any Peer Group Company is a party to
an agreement pursuant to which all or substantially all of the stock or assets of the Peer Group Company will be acquired by a third party, then such company shall not be considered a Peer Group Company for purposes of determining the Company’s
TSR Rank, but shall remain a Peer Group Company for purposes of determining the Company’s ROE Rank. 
  

2.2.3    The “TSR” for the Company and each Peer Group Company shall be calculated by (a) assuming
that $100 is invested in the common stock of the company at a price equal to the closing market price of the stock on the last trading day of             , (b) assuming that for
each dividend paid on the stock during the Performance Period, the amount equal to the dividend paid on the assumed number of shares held is reinvested in additional shares at a price equal to the closing market price of the stock on the ex-dividend
date for the dividend, and (c) determining the final dollar value of the total assumed number of shares based on the closing market price of the stock on the last trading day of
            . The TSR shall then equal the amount determined by subtracting $100 from the foregoing final dollar value, dividing the result by 100 and expressing the resulting
fraction as a percentage. 
  

2.3        ROE Rank. 

 
 2.3.1    To determine the Company’s
“ROE Rank,” the Average ROE (as defined below) of the Company and each of the Peer Group Companies (as defined in Section 2.2.2 above) shall be calculated, and the Company and the Peer Group Companies shall be ranked from
“1” to “10” based on their respective Average ROEs with “1” being the company with the highest Average ROE. 
  

2.3.2    The “Average ROE” of the Company and each Peer Group Company for the Performance Period shall be
calculated by averaging the Adjusted ROEs determined for the applicable company for each of the three years of the Performance Period. “Adjusted ROE” of any company for any year shall mean the company’s net income return on average
equity (excluding accumulated other comprehensive income (loss)) as publicly reported by the Company and calculated as follows. Adjusted ROE for any year shall be calculated by dividing the company’s net income for the year by the
company’s Average Equity for the year. For this purpose, a company’s net income for any year shall be that amount as set forth in the audited consolidated income statement of the company for the year or, if the audited income statement is
not available, as set forth in the financial or statistical supplement published by the company for the last quarter of the applicable year; provided, however, that if there are 

  
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noncontrolling interests in any company’s subsidiaries or if any company has outstanding preferred stock, net income shall mean net income after giving effect to income or loss attributable
to noncontrolling interests but without giving effect to dividends or other amounts attributable to preferred shareholders. “Average Equity” of any company for any year shall mean the average of the company’s Adjusted Equity (as
defined below) as of the last day of the year and the company’s Adjusted Equity as of the last day of the prior year. “Adjusted Equity” of any company as of any date shall be calculated by subtracting the company’s accumulated
other comprehensive income (loss) from the company’s total shareholders’ equity (which excludes noncontrolling interests, if any), in each case as set forth on the audited consolidated balance sheet of the company as of the applicable date
or, if the audited balance sheet is not available, as set forth in the financial or statistical supplement published by the company for the last quarter of the applicable year. If a company restates its audited consolidated financial statements for
any applicable year or as of any applicable date, the latest publicly available restated data on the date the Committee certifies the ROE Rank pursuant to Section 4.1 shall be used for the calculations under this Section 2.3.2. 

 

2.4        Premium Growth Rank. 
  
 2.4.1    To determine the Company’s “Premium Growth Rank,” the Premium
Growth (as defined below) of the Company and each of the PG Peer Companies (as defined below) shall be calculated, and the Company and the PG Peer Companies shall be ranked from “1” to “10” based on their respective Premium
Growths with “1” being the company with the highest Premium Growth. 
  
 2.4.2    The Company’s “Premium Growth” shall be calculated by dividing the total ____ premium revenues for the Company’s group life and AD&D, group long term
disability and group short term disability product lines by the total ____ premium revenues for the same product lines (in each case as set forth in the notes to audited consolidated financial statements of the Company and its subsidiaries for the
applicable year), subtracting one from the result and then expressing the resulting fraction as a percentage. The “Premium Growth” for each of the companies listed in the following table (the “PG Peer Companies”) shall be
calculated by dividing the amount of ____ revenues for the company’s segment or product line(s) listed in the table by the total ____ revenues for the same segments or product line(s), subtracting one from the result and then expressing the
resulting fraction as a percentage. All revenue information for each PG Peer Company shall be obtained from the financial or statistical supplement published by the company for the last quarter of the applicable year; provided, however, that if the
____ revenue information for any PG Peer Company is subsequently revised, the latest publicly available ____ revenue information on the date the Committee certifies the Premium Growth Rank pursuant to Section 4.1 shall be used for the
calculations under this Section 2.4.2. 

  
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	PG Peer Company	  	Comparative Premium Revenue Line Item(s)
		
	 Aetna Inc.
	  	Group Insurance—Premiums of the Disability and Life product lines
		
	 Assurant, Inc.
	  	Employee Benefits—Net earned premiums and other considerations of the Group Disability Single Premiums for Closed Blocks, All Other Group Disability, and Group Life product
lines
		
	 CIGNA Corporation
	  	Disability and Life—Premiums and fees of the Disability and Life product lines
		
	 The Hartford Financial Services Group, Inc.
	  	Group Benefits—Premiums of the Group Disability and Group Life product lines
		
	 Lincoln National Corporation
	  	Group Protection—Premiums of the Disability and Life product lines
		
	 MetLife, Inc.
	  	The Americas: Group, Voluntary & Worksite Benefits— Operating premiums, fees and other revenues of the Group Life product line
		
	 Principal Financial Group, Inc.
	  	U.S. Insurance Solutions: Specialty Benefits Insurance— Premiums and Fees of the Group Disability and Group Life product lines
		
	 Prudential Financial, Inc.
	  	U.S. Individual Life and Group Insurance: Group Insurance— Earned premiums, policy charges and fee income of the Group Disability Insurance and Group Life Insurance product
lines
		
	 Unum Group
	  	Unum US—Premiums of the Group Disability (Group Long-term Disability and Group Short-term Disability), Group Life and Accidental Death & Dismemberment product
lines

  
 If prior to the end of the Performance
Period, any PG Peer Company ceases to be a public reporting company for any reason, or if it ceases to report premium revenues for the segment or product lines listed in the above table, then such company shall not be considered a PG Peer Company.
In addition, if prior to the end of the Performance Period, any PG Peer Company acquires (including an acquisition by reinsurance) any other PG Peer Company, any of the companies listed in the following table, or the group life and disability
product lines of any of those companies, then such company shall not be considered a PG Peer Company. 
  

					
	Guardian Life of America	  	Mutual of Omaha	  	Liberty Mutual
	ING Employee Benefits	  	AIG Benefit Solutions	  	New York Life
	Minnesota Life	  	WellPoint Life & Disability	  	Fort Dearborn Life
	United Healthcare Specialty Benefits	  	OneAmerica (AUL)	  	Liberty Life of Boston

  
 5 

 3.    Employment Condition. 

 
 3.1    In order to receive the full
number of Performance Shares determined under Section 2, the Employee must not have a Termination of Employment (as defined below) prior to the last day of the Performance Period (the “Vesting Date”). 

 
 3.2    If the Employee has a Termination
of Employment prior to the Vesting Date as a result of Total Disability, Death or Retirement as such terms are defined in Sections 6.1-4(b), 6.1-4(c) and 6.1-4(f), respectively, of the Plan, the Employee or beneficiary shall be entitled to receive
an award payout following the completion of the Performance Period as determined under this Agreement based on a reduced Target Share Amount. The Target Share Amount following Total Disability, Death or Retirement of the Employee shall be determined
by multiplying the Target Share Amount before such event by a fraction, the numerator of which is the number of days in the period starting on the first day of the Performance Period and ending on the date of the Employee’s Termination of
Employment and the denominator of which is the number of days in the Performance Period. 
  
 3.3    If the Employee has a Termination of Employment prior to the Vesting Date, other than by reason of Total Disability, Death or Retirement, the Employee shall forfeit all rights
to receive any Performance Shares. 
  

3.4    A “Termination of Employment” shall be deemed to occur on the date on which the Employee ceases to
be employed on a continuous full time basis by the Company or a subsidiary of the Company for any reason or no reason, with or without cause. The Employee shall not be treated as having a Termination of Employment during the time the Employee is
receiving long term disability benefits provided by the Company or a subsidiary of the Company, unless the Employee has received formal written notice of termination. 

 
 4.    Certification and Payment.

  
 4.1    As soon as
practicable following the release of earnings by the Company, the Peer Group Companies and the PG Peer Companies for the last year of the Performance Period, the Company shall calculate the Payout Factor and the corresponding number of Performance
Shares issuable to the Employee based on the Payout Factor, and shall submit these calculations to the Committee. Notwithstanding anything to the contrary in this Agreement, the Committee may, in its sole discretion, reduce by up to 50% the
calculated numbers of Performance Shares to be issued based on circumstances relating to the performance of the Company or the Employee. No later than the March 15 immediately following the Vesting Date the Committee shall certify in writing
(which may consist of approved minutes of a Committee meeting) the TSR Rank, ROE Rank and Premium Growth Rank attained by the Company for the Performance Period, and the number of Performance Shares issuable to the Employee based on those
performance levels. Subject to applicable tax withholding, the number of Performance Shares so certified shall be issued to the Employee as soon as practicable following such certification, but no Performance Shares shall be issued prior to
certification. No fractional shares shall be issued and the number of Performance Shares deliverable shall be rounded to the nearest whole share. 

  
 6 

 4.2    If, after the certification and payment under this Agreement,
any Peer Group Company restates its financial statements for any year of the Performance Period for a reason other than a change in accounting principles or guidance, and if such restatement would result in an improvement in the Company’s ROE
Rank or Premium Growth Rank, the Company shall recalculate the Payout Factor and submit it for certification at the next meeting of the Committee, and promptly following such certification any additional Performance Shares resulting from the
recalculation shall be issued to the Employee, subject to applicable tax withholding. 
  
 5.    Tax Withholding.    The Employee acknowledges that, on the date the Performance Shares are issued to the Employee (the “Payment Date”), the
Value (as defined below) on that date of the Performance Shares will be treated as ordinary compensation income for federal and state income and FICA tax purposes, and that the Company will be required to withhold taxes on these income amounts. To
satisfy the required minimum withholding amount, the Company shall withhold the number of Performance Shares having a Value equal to the minimum withholding amount. For purposes of this Section 5, the “Value” of a Performance Share
shall be equal to the closing market price for Common Stock on the last trading day preceding the Payment Date. 
  

6.    Change of Control. 

 
 6.1    Notwithstanding any other
provision of this Agreement, if a Change of Control (as defined below) occurs before the Vesting Date and the Employee has not previously forfeited the Employee’s Performance Shares under Section 3, the Company shall, within 5 business
days thereafter and subject to applicable tax withholding as provided for in Section 5, issue to the Employee a number of Performance Shares determined by multiplying the Target Share Amount by a fraction, the numerator of which is the number
of days in the period starting on the first day of the Performance Period and ending on the date of the Change in Control and the denominator of which is the number of days in the Performance Period; provided, however, that if the Employee had a
Termination of Employment due to Total Disability, Death or Retirement prior to the date of the Change in Control, the number of Performance Shares to be issued shall be equal to the Target Share Amount (as previously adjusted under
Section 3.2). Amounts delivered or paid under this Section 6 shall be in satisfaction of any and all obligations of the Company to issue Performance Shares under this Agreement. 
  
 6.2    For purposes of this Agreement, a Change of Control shall have occurred if:

  
 (a)    Any
“Person,” as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (other than the Company, any trustee or other fiduciary holding securities under an employee
benefit plan of the Company, or any company owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of stock of the Company), is or becomes the “beneficial owner” (as
defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 30% or more of the combined voting power of the Company’s then outstanding securities; 

  
 7 

 (b)    The Company completes a merger or other consolidation of the
Company with any other company, other than (i) a merger or consolidation which results in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted
into voting securities of the surviving entity) 51% or more of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation or (ii) a merger or
consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no Person acquires more than 30% of the combined voting power of the Company’s then outstanding securities; 

 
 (c)    The Company completes a sale or
disposition of all or substantially all of its assets; or 
  
 (d)    During any period of twelve months or less, individuals who at the beginning of such period constituted a majority of the Board cease for any reason to constitute a majority of
the Board unless the nomination or election of such new directors was approved by a vote of at least two-thirds of the directors then still in office who were directors at the beginning of such period. 

 
 7.    Mergers, Consolidations or
Changes in Capital Structure.    If, after the date of this Agreement, the outstanding Common Stock is increased or decreased or changed into or exchanged for a different number or kind of shares or other securities of the
Company or of another corporation by reason of any reorganization, merger, consolidation, plan of exchange, recapitalization, reclassification, stock split, combination of shares or dividend payable in shares, or in the event of any consolidation,
merger or plan of exchange involving the Company pursuant to which the Common Stock is converted into cash, securities or other consideration, then appropriate adjustment shall be made by the Committee in the number and kind of shares subject to
this Agreement so that the Employee’s proportionate interest before and after the occurrence of the event is maintained. 
  

8.    No Right to Employment.    Nothing in this Agreement or the Plan shall
(i) confer upon the Employee any right to be continued in the employment of the Employee’s employer or interfere in any way with the right of such employer to terminate the Employee’s employment at any time, for any reason or no
reason, with or without cause, or to decrease the Employee’s compensation or benefits, or (ii) confer upon the Employee any right to the continuation, extension, renewal, or modification of any compensation, contract or arrangement with or
by the Company or any subsidiary of the Company. 
  

9.    Approval.    The obligations of the Company under this Agreement and the Plan are
subject to the approval of state, federal or foreign authorities or agencies with jurisdiction in the matter. The Company will use its reasonable best efforts to take steps required by state, federal or foreign law or applicable regulations,
including rules and regulations of the Securities and Exchange Commission and any stock exchange on which the Company’s shares may then be listed, in connection with the grant evidenced by this Agreement. The foregoing notwithstanding, the
Company shall not be obligated to deliver the Performance Shares if such delivery would violate or result in a violation of applicable state or federal securities laws. 

  
 8 

 10.    Miscellaneous. 

 
 10.1    Governing
Law.    This Agreement shall be governed by and construed under the laws of the State of Oregon, without regard to the choice of law principles applied in the courts of such state. 

 

10.2    Severability.    If any provision or provisions of this Agreement are found to be
unenforceable, the remaining provisions shall nevertheless be enforceable and shall be construed as if the unenforceable provisions were deleted. 
  

10.3    Entire Agreement.    This Agreement constitutes the entire agreement between the
parties with respect to the subject matter hereof and supersedes all prior and contemporaneous oral or written agreements between the Company and the Employee relating to the subject matter hereof. 

 

10.4    Amendment.    This Agreement may be amended or modified only by written consent of
the Company and the Employee. 
  

10.5    Assignment.    The Employee may not assign this Agreement or any rights hereunder
to any other party or parties without the prior written consent of the Company. This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. 
  
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above. 

 

			
	STANCORP FINANCIAL GROUP, INC.
		
	 By:
	 	 
	
	 EMPLOYEE

	
	 

  
 9EX-10.1

 Exhibit 10.1 
 GLOBAL POWER EQUIPMENT GROUP INC. 
 SHORT-TERM INCENTIVE PLAN

 1. Purpose. The purpose of this Short-Term Incentive Plan (this “STI Plan”) is to reward designated
employees of Global Power Equipment Group Inc. (the “Company”) and its Subsidiaries for the achievement of each year’s business plan objectives and individual performance goals in a manner consistent with the Company’s strategies
for achieving sustainable long-term stockholder value. 
 2. Definitions. The following capitalized words as used in this
STI Plan shall have the following meanings: 
 “Award Opportunity” means a cash award opportunity established under the
STI Plan for a Participant by the Committee pursuant to such terms, conditions, restrictions and/or limitations, if any, as the Committee may establish. 
 “Board” means the Board of Directors of the Company. 
 “Chief
Executive Officer” means the Chief Executive Officer of the Company. 
 “Code” means the Internal Revenue Code of
1986, as amended. 
 “Committee” means the Compensation Committee of the Board. 

“Company” has the meaning given such term in Section 1 of this STI Plan. 

“Discretionary Bonus” has the meaning given such term in Section 7 of this STI Plan. 

“Employee” means any person employed by the Company or its Subsidiaries, whether such Employee is so employed at the time the
STI Plan is adopted or becomes so employed subsequent to the adoption of the STI Plan. 
 “Participant” means, as to
any Performance Period, any Employee who is selected by the Committee to be eligible to participate in the STI Plan for that Performance Period, as provided herein. 
 “Payout Formula” means the formula established by the Committee for determining Award Opportunities for a Performance Period based on the level of achievement of the Performance Objectives for
the Performance Period. 
 “Performance Objectives” means the measurable or subjective performance objective or
objectives established pursuant to this STI Plan for Participants who have received Award Opportunities. Performance Objectives may be described in terms of Company-wide objectives or objectives that are related to the performance of a Subsidiary,
division, business unit, department, region or function within the Company or Subsidiary in which the Participant is 

 
employed (i.e., “financial objectives”) or in terms of the performance of the individual Participant (i.e., “individual objectives”) and may be based on the
following criteria: revenues, earnings from operations, operating income, earnings before or after interest and taxes, net income, cash flow, earnings per share, return on total capital, return on invested capital, return on equity, return on
assets, total return to shareholders, earnings before or after interest, taxes, depreciation, amortization or extraordinary or special items, return on investment, free cash flow, cash flow return on investment (discounted or otherwise), net cash
provided by operations, cash flow in excess of cost of capital, operating margin, profit margin, contribution margin, stock price, new customers, cost controls, operating efficiencies, product development, strategic partnering, research and
development, market penetration, geographic business expansion, cost targets, productivity, employee satisfaction, management of employment practices and employee benefits, supervision of litigation or labor negotiations, dealings with regulatory
bodies, acquisitions or divestitures, customer satisfaction, program development, avoidance of environmental, public or employee safety problems, and/or strategic business criteria related to a Participant’s area or areas of responsibility. The
Performance Objectives may be made relative to the performance of other corporations or entities. 
 “Performance
Period” means the Company’s fiscal year or such other period as determined by the Committee in its discretion, within which the Performance Objectives relating to an Award Opportunity are to be achieved. The Committee may establish
different Performance Periods for different Participants, and the Committee may establish concurrent or overlapping Performance Periods. 
 “STI Plan” means this Global Power Equipment Group Inc. Short-Term Incentive Plan, as amended from time to time. 
 “Subsidiary” means any corporation or other entity (including, but not limited to, partnerships, limited liability companies and joint ventures) controlled by the Company. 

3. Administration. The Committee shall be responsible for administration of the STI Plan. The Committee, by majority action, is
authorized to interpret the STI Plan, to prescribe, amend, and rescind regulations relating to the STI Plan, to provide for conditions and assurances deemed necessary or advisable to protect the interests of the Company and its Subsidiaries, and to
make all other determinations necessary or advisable for the administration of the STI Plan, but only to the extent not contrary to the express provisions of the STI Plan. Determinations, interpretations, or other actions made or taken by the
Committee pursuant to the provisions of the STI Plan shall be final, binding and conclusive for all purposes and upon all Participants. No member of the Committee shall be liable for any such action or determination made in good faith. The Committee
may delegate to the Chief Executive Officer or other senior officers or senior managers of the Company, subject to such terms as the Committee shall determine, authority to administer all or any portion of the STI Plan, or the authority to perform
certain functions, including administrative functions. In the event of such delegation, all references to the Committee in this STI Plan shall be deemed references to such senior officers or senior managers as it relates to those aspects of the STI
Plan that have been delegated. In this regard, the Committee specifically authorizes each senior officer and senior manager to establish the individual Performance Objectives for his or her direct reports who participate in the STI Plan and
determine whether and to what extent the individual Performance Objectives for those 

  
 2 

 
direct reports have been achieved. Notwithstanding the foregoing, and to the extent required by the Committee charter or the applicable exchange listing standards, the Committee shall retain
exclusive authority to establish and administer Award Opportunities and determine payouts for any Board-appointed officers of the Company who are designated by the Board as “Section 16 officers.” 

4. Eligibility. The Committee, in its sole discretion, shall determine which Employees will be eligible to participate in the STI
Plan for any given Performance Period. When making this determination, the Committee shall consider the recommendations of the Chief Executive Officer. Eligible Participants shall be designated by the Committee either before or within 90 days
following the beginning of the Performance Period. An Employee who is a Participant for a given Performance Period is neither guaranteed nor assured of being selected for participation in any subsequent Performance Period. 

5. Award Opportunities. 
 a. No later than the first 90 days following the beginning of each Performance Period, the Committee shall establish the Award Opportunity for each Participant, including the applicable Performance
Objectives and Payout Formula. Each Performance Objective will be weighted by the Committee to reflect its relative importance to the Company in the applicable Performance Period. The Payout Formulas, Performance Objectives and weighting of the
Performance Objectives need not be uniform with respect to any or all Participants. The Committee shall consider the recommendations of the Chief Executive Officer in determining the applicable Payout Formulas, Performance Objectives or weighting of
the Performance Objectives with respect to Participants other than the Chief Executive Officer. The Committee may also establish Award Opportunities for newly hired or newly promoted employees without compliance with such timing and other
limitations as provided herein, which Award Opportunities may be based on performance during less than the full Performance Period and may be pro-rated in the discretion of the Committee. 

b. Participants must achieve the Performance Objectives established by the Committee in order to receive payment of an Award Opportunity
under the STI Plan. However, the Committee may determine that only a threshold level relating to a Performance Objective must be achieved for Award Opportunities to be paid under the STI Plan. Similarly, the Committee may establish a minimum
threshold performance level, a maximum performance level, and one or more intermediate performance levels or ranges, with target award levels or ranges that will correspond to the respective performance levels or ranges included in the Payout
Formula. 
 c. The Committee may in its sole discretion modify the Payout Formulas, Performance Objectives or the related
minimum acceptable level of achievement, in whole or in part, as the Committee deems appropriate and equitable (i) to reflect a change in the business, operations, corporate structure or capital structure of the Company or its Subsidiaries, the
manner in which it conducts its business, or other events or circumstances or (ii) in the event that a Participant’s responsibilities materially change during a Performance Period or the Participant is transferred to a position that is not
designated or eligible to participate in the STI Plan. 

  
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 6. Determination of Award Opportunities. 

a. Following the end of each Performance Period, the Committee shall determine in writing whether and to what extent the Performance
Objectives with respect to each Participant for the applicable Performance Period have been achieved and, if such Performance Objectives have been achieved, to approve actual payment of each Award Opportunity under the STI Plan pursuant to the
applicable Payout Formulas. The Committee shall consider the recommendations of the Chief Executive Officer when determining whether the Performance Objectives have been achieved with respect to Participants other than the Chief Executive Officer.

 b. To receive payment of an Award Opportunity for a Performance Period, a Participant must be employed by the Company or a
Subsidiary on the date of payment of the award as set forth in Section 8 below. Except as otherwise provided in the immediately following sentence, in the event a Participant terminates employment with the Company and its Subsidiaries for any
reason prior to payment of an Award Opportunity for a Performance Period, the Participant shall not be entitled to payment of an Award Opportunity with respect to that Performance Period. However, in the case of a Participant’s termination of
employment by reason of death or disability (as defined by reference to the long-term disability plan covering the Participant) prior to payment of an Award Opportunity for a Performance Period, the Participant (or the Participant’s estate or
legal representative, as applicable) shall be eligible to receive a pro-rated Award Opportunity based on actual financial results for the entire Performance Period and assuming that the Participant’s individual objectives, if any, were achieved
at the “target” level. 
 c. Notwithstanding anything in this STI Plan to the contrary, the Committee may, in its sole
discretion, reduce (but not increase) the resulting Award Opportunity otherwise payable to any Participant for a particular Performance Period, regardless of the level of attainment of the Performance Objectives, at any time prior to the payment of
the Award Opportunity, in light of such Participant’s individual performance during the Performance Period, the quality of the financial results, or such other factors as the Committee deems relevant, including changed or special circumstances
that arose during the Performance Period. The Committee shall consider the recommendations of the Chief Executive Officer when determining whether to reduce an Award Opportunity under this Section 6(c), and the amount of any such reduction,
with respect to Participants other than the Chief Executive Officer. 
 7. Discretionary Bonus. Notwithstanding anything
in this STI Plan to the contrary, after the end of each Performance Period, the Committee may, in its sole discretion, make a discretionary bonus award (a “Discretionary Bonus”) to any Participant in light of such Participant’s
individual performance during the Performance Period, the quality of financial results, or such other factors as the Committee deems relevant, including changed or special circumstances that arose during the Performance Period. The Committee shall
consider the recommendations of the Chief Executive Officer when determining whether to award a Discretionary Bonus under this Section 7, and the amount of any such award, with respect to Participants other than the Chief Executive Officer.

  
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 8. Payment. Any Award Opportunity or Discretionary Bonus earned by a Participant for
a particular Performance Period shall be paid in cash after the end of the Performance Period, but in no event later than 90 days after the end of the Performance Period. The Committee may, in its sole discretion, determine that all or part of an
Award Opportunity or Discretionary Bonus shall be paid in the form of an equivalent amount of Company common shares; provided that the shares shall be issued under the Company’s equity compensation plans in existence at the time of grant.

 9. Tax Withholding. The Company and its Subsidiaries shall have the right to deduct from all payments made to any
person under the STI Plan any federal, state, local, foreign or other taxes which, in the opinion of the Company and its Subsidiaries, are required to be withheld with respect to such payments. 

10. No Employment Contract. Nothing contained in this STI Plan shall confer upon a Participant any right with respect to
continuance of employment by the Company and its Subsidiaries, nor limit or affect in any manner the right of the Company and its Subsidiaries to terminate the employment or adjust the compensation of a Participant. For purposes of the STI Plan, the
transfer of employment of a Participant between the Company and any one of its Subsidiaries (or between Subsidiaries) shall not be deemed a termination of the Participant’s employment. 

11. Transferability. No right or benefit under this STI Plan will be subject to anticipation, alienation, sale, assignment,
pledge, encumbrance, or charge, and any attempt to anticipate, alienate, sell, assign, pledge, encumber, or charge such right or benefit will be void. No such right or benefit will in any manner be liable for or subject to the debts, liabilities, or
torts of a Participant. 
 12. Successors. All obligations of the Company under the STI Plan shall be binding on any
successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business or assets of the Company. 

13. Governing Law. The STI Plan and all Award Opportunities shall be construed in accordance with and governed by the laws of the
State of Delaware, but without regard to its conflict of law provisions. 
 14. Amendment or Termination. The Committee
reserves the right, at any time, to amend, suspend or terminate the STI Plan, in whole or in part, in any manner, and for any reason, and without the consent of any Participant, Employee or other person; provided, that no such amendment, suspension
or termination shall adversely affect the payment of any amount for a Performance Period ending prior to the action of the Board amending, suspending or terminating the STI Plan. 

15. Source of Payment. Each Award Opportunity that may become payable under the STI Plan will be paid solely from the general
assets of the Company and its Subsidiaries. Nothing in this STI Plan will be construed to create a trust or to establish or evidence any Participant’s claim of any right to payment of an Award Opportunity other than as an unsecured general
creditor with respect to any payment to which he or she may be entitled. 

  
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 16. Clawback. In addition to any other remedies available to the Company or a
Subsidiary, any Award Opportunity granted or paid to a Participant shall be subject to forfeiture or repayment pursuant to the terms of any applicable compensation recovery policy adopted by the Company, including any such policy that may be adopted
to comply with the Dodd-Frank Wall Street Reform and Consumer Protection Act or any rules or regulations issued by the Securities and Exchange Commission rule or applicable securities exchange. 

17. Section 409A. The Company intends that Award Opportunities granted under the STI Plan be exempt from the requirements of
Section 409A of the Code, and the STI Plan shall be interpreted, administered and governed in accordance with that intent. In that regard, in no event shall an Award Opportunity be paid to a Participant later than two and one-half months after
the end of the calendar year in which the Award Opportunity is no longer subject to a substantial risk of forfeiture (within the meaning of Section 409A of the Code). Although the Company intends to administer the STI Plan so that Award
Opportunities will be exempt from the requirements of Section 409A of the Code, the Company does not warrant that any Award Opportunity under the STI Plan will qualify for favorable tax treatment under Section 409A of the Code or any other
provision of federal, state, local, or non-United States law. The Company shall not be liable to any Participant for any tax, interest, or penalties the Participant might owe as a result of the grant, vesting or payment of any Award Opportunity
under the STI Plan. 
 [END OF DOCUMENT] 

  
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