Document:

<PAGE>
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                                                                               .
                                                                               .
                                  EXHIBIT 10.35

                            Schedule to Exhibit 10.40

<TABLE>
<CAPTION>
Employee           Title                                   Amount as of 2/21/06
--------           -----                                   --------------------
<S>                <C>                                     <C>
Kevin J. McNamara  President and Chief Executive Officer        $484,186.00

                              Paid in full 2/22/06
</TABLE>EX-4.1

 

Exhibit 4.1

A CORPORATION ORGANIZED UNDER THE LAWS OF THE STATE OF OHIO

			
	 
	NUMBER
	 	SHARES  
	 	 	 
	3688
	 	CUSIP NO. 319459

FIRST CITIZENS BANC CORP.

SANDUSKY, OHIO

This Certifies That

is the owner of                                         Shares
                                         of the Common Capital Stock with a Par Value of Twenty Dollars ($20.00) each of
First Citizens Banc Corp., Sandusky, Ohio transferable only on the books of the
Corporation by the holder hereof in person or by Attorney upon surrender of this Certificate
properly endorsed.

In Witness Whereof, the said Corporation has caused this Certificate to be
signed by its duly authorized officers and its Corporate Seal be hereunto
affixed.

this                                          day of                                          19                                         

	 	 	 
	 

	 	 

	     SECRETARY

	 	PRESIDENTEX-10.22

 

EXHIBIT 10.22

STONERIDGE, INC.

DIRECTORS’ RESTRICTED SHARES PLAN

2005 GRANT AGREEMENT

     Stoneridge, Inc., an Ohio corporation (the “Company”), pursuant to the terms and conditions
hereof, hereby grants to ___(the “Grantee”) XXX Common Shares, without par value, of the
Company (the “Restricted Shares”).

	1.	 	The Restricted Shares are in all respects subject to the terms, conditions and provisions of
this Agreement and the Company’s Directors’ Restricted Shares Plan (the “Plan”).
	 
	2.	 	Until no longer subject to substantial risk of forfeiture (i.e., “vested”), the Restricted
Shares may not be sold, transferred, pledged, assigned or otherwise encumbered, whether
voluntarily, involuntarily or by operation of law, and, except as set forth below, will be
forfeited to the Company if the Grantee’s status as an Eligible Director (as defined in the
Plan) terminates prior to the earlier of the 2006 Annual Meeting of Shareholders or April 18,
2006. The certificate or certificates representing the Restricted Shares will bear a legend
evidencing the restrictions contained herein. The Restricted Shares granted hereby shall vest
and no longer be subject to a substantial risk of forfeiture on the earlier of the 2006 Annual
Meeting of Shareholders or April 18, 2006. Notwithstanding anything to the contrary in this
Agreement, the Restricted Shares awarded to the Grantee hereunder shall no longer be subject
to a substantial risk of forfeiture and shall immediately vest in the Grantee and a
certificate or certificates representing the Restricted Shares shall be delivered to the
Grantee or the Grantee’s estate, as the case may be, upon (i) the Grantee’s death or permanent
and total disability or (ii) a Change in Control or Potential Change of Control of the Company
(both as defined in the Plan). For purposes hereof, “permanent and total disability” means
that the Grantee is permanently and totally disabled if the Grantee is unable to engage in any
substantial gainful activity by reason of any medically determinable physical or mental
impairment which can be expected to result in death or which has lasted or can be expected to
last for a continuous period of not less than 12 months.
	 
	3.	 	The Restricted Shares will be issued in the name of the Grantee. The Company’s transfer
agent and/or share transfer records will show the Grantee as the owner of record of the
Restricted Shares. Except as otherwise provided in this Agreement, the Grantee will have all
the rights of a shareholder of the Company, including the right to vote and receive dividends.
	 
	4.	 	The Company or the Company’s agent will hold the Restricted Shares for the period of time
that the Restricted Shares are subject to forfeiture (until vested) and the certificate or
certificates representing the Restricted Shares will be delivered to the Grantee after the
Restricted Shares are no longer subject to substantial risk of forfeiture. The Grantee shall
execute and deliver to the Company one or more blank stock powers so that the Restricted
Shares that may be forfeited can be canceled.
	 
	5.	 	On any change in the number or kind of outstanding Common Shares of the Company by reason of
a recapitalization, merger, consolidation, reorganization, separation, liquidation, share
split, share dividend, combination of shares or any other change in the corporate structure or
Common Shares of the Company, the Company, by action of the Company’s Board of Directors
(“Board), is empowered to make such adjustment, if any, in the number and kind of Restricted
Shares subject to this Agreement as it considers appropriate for the protection of the Company
and of the Grantee.
	 
	6.	 	No later than the date as of which an amount first becomes includable in the gross income of
the Grantee for federal income tax purposes with respect to the Restricted Shares granted
hereunder, the Grantee shall pay to the Company, or make arrangements satisfactory to the
Board regarding the payment of, any federal, state or local taxes of any kind required by law
to be withheld with respect to that amount. Unless otherwise determined by the Board, minimum
statutory withholding obligations may be settled with previously owned Common Shares or
Restricted Shares that have vested. The making of that payment or those arrangements is a
condition to the obligations of the Company under the Plan, and the Company and its
subsidiaries and affiliates may, to the extent permitted by law, deduct any taxes from any
payment of any kind otherwise payable to the Grantee.
	 
	7.	 	The Grantee agrees and represents that Restricted Shares are not being acquired with a view
to resale or distribution and will not be sold or otherwise transferred by the Grantee except
in compliance with the Securities Act of 1933, as amended, and the rules and regulations
thereunder and any applicable state securities laws.

 

 

	8.	 	The laws of the State of Ohio govern this Agreement, the Plan and the Restricted Shares
granted hereunder.
	 
	9.	 	The granting of the Restricted Shares does not confer any right on the Grantee to continue as
a director of the Company.

     IN WITNESS WHEREOF, the Company has caused its corporate name to be subscribed by its duly
authorized officer as of the 18th day of April, 2005.

	 	 	 	 	 	 	 
	 	 	STONERIDGE, INC.
	 

	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 	 	 
	The
foregoing is hereby accepted by Grantee.

	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	(Signature)EX-10.23

 

EXHIBIT 10.23

STONERIDGE, INC.

LONG-TERM INCENTIVE PLAN

RESTRICTED SHARES GRANT AGREEMENT

     Stoneridge,
Inc., an Ohio corporation (the “Company”), pursuant to the terms and conditions
hereof, hereby grants to ___(the “Grantee”) XXX Common Shares, without par value, of the
Company (the “Restricted Shares”). As set forth below, the grant of Restricted Shares is comprised
of three separate mutually exclusive parts (Award I, Award II and Award III).

	1.	 	The Restricted Shares are in all respects subject to the terms, conditions and provisions of
this Agreement and the Company’s Long-Term Incentive Plan (the “Plan”).
	 
	2.	 	Until no longer subject to substantial risk of forfeiture (i.e., “vested”) (the “Vesting
Date”) in accordance with the schedule and/or performance criteria set forth below, the
Restricted Shares may not be sold, transferred, pledged, assigned or otherwise encumbered,
whether voluntarily, involuntarily or by operation of law, and will be forfeited to the
Company if the Grantee voluntarily terminates his employment with the Company; provided,
however, the Compensation Committee of the Board of Directors (the “Committee”), in its sole
discretion, may modify the terms of this grant at any time. The certificate or certificates
representing the Restricted Shares will bear a legend evidencing the restrictions contained
herein.
	 
	 	 	The Restricted Shares shall “vest” (i.e., become no longer subject to a substantial risk of
forfeiture) in the amounts and on the dates set forth below:

     Award
I — Time-Based Vesting

	 	 	 
	Vesting
Date	 	Number of Shares Vesting
	April 18, 2006

	 	XXX
	April 18, 2007

	 	XXX
	April 18, 2008

	 	XXX
	April 18, 2009

	 	XXX

     Award
II and III — Performance and Time-Based Vesting

     Subject to the achievement of the performance targets set forth below.

     Earning Per Share Target (Award II)

	 	 	 
	Vesting Date	 	Maximum Number of Shares that May
Vest
	April 18, 2008

	 	XXX

	 	 	If the Company’s aggregate fully diluted earnings per share calculated in accordance with GAAP
(but excluding any adjustments for goodwill impairments and the tax effect thereof) for fiscal
years 2005, 2006 and 2007 (the “Performance Period”) is equal to or greater than $3.74, then
all XXX Restricted Shares shall vest.
	 
	 	 	If the Company’s aggregate fully diluted earnings per share for the Performance Period is less
than $3.04, then all XXX Restricted Shares shall be forfeited.
	 
	 	 	If the Company’s aggregate fully diluted earnings per share for the Performance Period is equal
to $3.04, then XXX Restricted Shares shall vest and XXX Restricted Shares shall be forfeited.

 

 

	 	 	If the Company’s aggregate fully diluted earnings per share for the Performance Period is
greater than $3.04 but less than $3.74, then the number of Restricted Shares that shall vest
shall be XXX Restricted Shares plus the result of the following calculation (rounded to the
nearest whole share): XXX times (the Company’s aggregate earnings per share for the Performance
Period less $3.04) divided by .7.

     Peer Group Performance Target (Award III)

	 	 	 
	Vesting Date	 	Maximum Number of Shares that May
Vest
	April 18, 2008

	 	XXX

	 	 	If the Company’s total return to investors (as defined below) for the years 2005, 2006 and 2007
(the “Peer Group Performance Period”) is equal to or greater than the 75th
percentile of the peer group’s performance (also measured as total return to investors), then
all XXX Restricted Shares shall vest.
	 
	 	 	If the Company’s total return to investors for the Peer Group Performance Period is less than
the 33.33rd percentile of the peer group’s performance, then all XXX Restricted
Shares shall be forfeited.
	 
	 	 	If the Company’s total return to investors for the Peer Group Performance Period is equal to
the 33.33rd percentile of the peer group’s performance, then XXX Restricted Shares
shall vest and XXX Restricted Shares shall be forfeited.
	 
	 	 	If the Company’s total return to investors for the Peer Group Performance Period is greater
than the 33.33rd percentile of the peer group’s performance and less than the
50th percentile of the peer group’s performance, then the number of Restricted
Shares that shall vest shall be XXX Restricted Shares plus the result of the following
calculation (rounded to the nearest whole share): XXX times (the Company’s percentile in
comparison to the peer group of the Company’s total return to investors during the Peer Group
Performance Period (expressed as a decimal) less .3333) divided by .1667.
	 
	 	 	If the Company’s total return to investors for the Peer Group Performance Period is greater
than the 50th percentile of the peer group’s performance and less than the
75th percentile of the peer group’s performance then the number of Restricted Shares
that shall vest shall be XXX Restricted Shares plus the result of the following calculation
(rounded to the nearest whole share): XXX times (the Company’s percentile in comparison to the
peer group of the Company’s total return to investors during the Peer Group Performance Period
(expressed as a decimal) less .5) divided by .25.
	 
	 	 	The peer group shall be the same peer group used in the Company’s 2005 Proxy Statement
(Coredata – Industry Group 333 (Automotive Parts) Index) but shall be subject to modification
at the discretion of the Committee from time to time, when events warrant. Total return to
investors shall be calculated in accordance with Item 402(l) of Regulation S-K as of the date
hereof (i.e., by dividing: (i) the sum of (A) the cumulative amount of dividends for the
measurement period, and (B) the difference between the registrant’s share price at the end of
and the beginning of the measurement period; by (ii) the shares price at the beginning of the
measurement period).
	 
	3.	 	The Restricted Shares will be issued in the name of the Grantee. The Company’s transfer
agent and/or share transfer records will show the Grantee as the owner of record of the
Restricted Shares. Except as otherwise provided in this Agreement, the Grantee will have all
the rights of a shareholder of the Company, including the right to vote and receive dividends.
	 
	4.	 	The Company or the Company’s agent will hold the Restricted Shares for the period of time
that the Restricted Shares are subject to forfeiture (until vested) and the certificate or
certificates representing the Restricted Shares will be delivered to the Grantee after the
Restricted Shares are no longer subject to substantial risk of forfeiture. The Grantee shall
execute and deliver to the Company three or more blank stock powers so that the Restricted
Shares that may be forfeited can be canceled.
	 
	5.	 	Notwithstanding anything to the contrary in this Agreement, the Restricted Shares awarded to
the Grantee hereunder shall no longer be subject to a substantial risk of forfeiture and shall
immediately vest in the Grantee and a certificate or certificates representing the Restricted
Shares shall be delivered to the Grantee or the Grantee’s estate, as the case may be, upon the
Grantee’s death or disability (as determined by the Committee in accordance with the Plan),
but (i) only to the

 

 

	 	 	extent such Restricted Shares Part of Award I would have become vested
within one year from the time of death or disability, as the case may be, had the Grantee
continued to fulfill all of the conditions of this Agreement during such period, or (ii) in
proportion to the number of months, including any partial month, elapsed in the performance
period divided by 36 for such Restricted Shares Part of Award II or Award III, subject to the
proviso below, a Change in Control of the Company (as defined in the Plan), or the termination
“without cause” of the Grantee’s employment by the Company; provided, however, the Restricted
Shares granted as part of Award II and Award III shall not vest on a termination without cause
provided, however, those Restricted Shares subject to performance criteria (whether Award II
or Award III) vesting as a result of the Grantee’s death or disability or as a result of a
Change in Control shall vest in amounts which assume an earning per share during the
Performance Period of $3.39 per share and a total return to investors during the Peer Group
Performance Period at the 50th percentile of the peer group’s performance (or such
higher amounts if actual results to the date of such an event are higher than the targeted
performance results set forth in this sentence). Termination shall be deemed to be “without
cause” unless the Board of Directors of the Company, or its designee, in good faith determines
that termination is because of any one or more of the following:

	 
	 	 	The Grantee’s:

	 
	(a)	 	fraud;
	 
	(b)	 	misappropriation of funds;
	 
	(c)	 	commission of a felony or of an act or series of acts which result in
material injury to the business reputation of the Company;
	 
	(d)	 	commission of a crime or act or series of acts involving moral turpitude;
	 
	(e)	 	commission of an act or series of repeated acts of dishonesty that are
materially inimical to the best interests of the Company;
	 
	(f)	 	willful and repeated failure to perform his duties, which failure has not
been cured within fifteen (15) days after the Company gives notice thereof to the
Grantee;
	 
	(g)	 	material breach of any material provision of an employment agreement, if any,
which breach has not been cured in all substantial respects within ten (10) days after
the Company gives notice thereof to the Grantee; or
	 
	(h)	 	failure to carry out the reasonable directions or instructions of the
Grantee’s superiors, provided the directions or instructions are consistent with the
duties of the Grantee’s office, which failure has not been cured in all substantial
respects within ten (10) days after the Company gives notice thereof to the Grantee.

	 
	 	 	Provided, however, the Company’s obligation to provide notice and an opportunity to cure,
pursuant to subsections 5(f)-(h) above, shall only apply to the Grantee’s first breach, first
failure to perform or first failure to follow directions, as the case may be, of the nature
giving rise to the right of the Company to provide notice thereof. In addition, the Grantee
may terminate his employment with the Company, and such termination shall be deemed a
termination by the Company “without cause” if:

	 
	(a)	 	the Company reduces the Grantee’s title, responsibilities, power or authority
in comparison with his title, responsibilities, power or authority on the date hereof;
	 
	(b)	 	the Company assigns the Grantee duties which are inconsistent with the duties
assigned to the Grantee on the date hereof and which duties the Company persists in
assigning to the Grantee despite the prior written objection of the Grantee; or
	 
	(c)	 	the Company reduces the Grantee’s annual base compensation (unless such
decrease is proportionate with a decrease in the base compensation of the officers of
the Company as a group), or materially reduces his group health, life, disability or
other insurance programs, his pension, retirement or profit-sharing benefits or any

 

 

	 	 	benefits provided by the Company, or excludes him from any plan, program or
arrangement, including but not limited to bonus or incentive plans.

	 
	6.	 	On any change in the number or kind of outstanding common shares of the Company by reason of
a recapitalization, merger, consolidation, reorganization, separation, liquidation, share
split, share dividend, combination of shares or any other change in the corporate structure or
Common Shares of the Company, the Company, by action of the Committee, is empowered to make
such adjustment, if any, in the number and kind of Restricted Shares subject to this Agreement
as it considers appropriate for the protection of the Company and of the Grantee.
	 
	7.	 	No later than the date as of which an amount first becomes includable in the gross income of
the Grantee for federal income tax purposes with respect to the Restricted Shares granted
hereunder, the Grantee shall pay to the Company, or make arrangements satisfactory to the
Committee regarding the payment of, any federal, state or local taxes of any kind required by
law to be withheld with respect to that amount. Unless otherwise determined by the Committee,
minimum statutory withholding obligations may be settled with previously owned Common Shares
or Restricted Shares that have vested. The making of that payment or those arrangements is a
condition to the obligations of the Company under the Plan, and the Company and its
subsidiaries and affiliates may, to the extent permitted by law, deduct any taxes from any
payment of any kind otherwise payable to the Grantee.
	 
	8.	 	Nothing in this Agreement shall affect in any manner any conflicting or other provision of
any other agreement between the Grantee and the Company. Nothing contained in this Agreement
shall limit whatever right the Company might otherwise have to terminate the employment of the
Grantee.
	 
	9.	 	The laws of the State of Ohio govern this Agreement, the Plan and the Restricted Shares
granted hereunder.

     IN WITNESS WHEREOF, the Company has caused its corporate name to be subscribed by its duly
authorized officer as of the 18th day of April, 2005.

	 	 	 	 	 	 	 
	 	 	STONERIDGE, INC.
	 

	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 	 	 
	The
foregoing is hereby accepted.

	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	(Signature)

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