Document:

Chart Industries, Inc. 2004 Stock Option and Incentive Plan

 Exhibit 10.9 
  
 CHART INDUSTRIES, INC. 
 2004 STOCK OPTION AND INCENTIVE PLAN 
  
 Section 1. Purpose 
  
 The Chart Industries, Inc.
2004 Stock Option and Incentive Plan, as the same may be amended (the “Plan”), is designed to foster the long-term growth and performance of the Company by: (a) enhancing the Company’s ability to attract and retain highly qualified
employees; and (b) motivating employees to serve and promote the long-term interests of the Company and its stockholders through stock ownership and performance-based incentives. To achieve this purpose, the Plan provides authority for the grant of
Stock Options. 
  
 Section 2. Definitions 
  
 (a) “Acquisition Consideration” shall have the meaning set
forth in Section 12(a) hereof. 
  
 (b)
“Affiliate” shall have the meaning ascribed to that term in Rule 12b-2 promulgated under the Exchange Act. 
  
 (c) “Award” shall mean a grant of Stock Options under this Plan. 
  
 (d) “Award Agreement” shall mean any agreement between the Company and a Participant that sets forth terms,
conditions, and restrictions applicable to an Award. 
  
 (e)
“Board” or “Board of Directors” shall mean the Board of Directors of the Company. 
  
 (f) “Change in Control” shall have the meaning set forth in Section 12(b) hereof. 
  
 (g) “Code” shall mean the Internal Revenue Code of 1986, or
any law that supersedes or replaces it, as amended from time to time. 
  
 (h) “Committee” shall mean the Board of Directors or any committee of the Board authorized by the Board of Directors to administer this Plan. 
  
 (i) “Common Stock” shall mean shares of Common Stock, par value $.01 per share, of the Company, including
authorized and unissued shares and treasury shares. 
  
 (j)
“Company” shall mean Chart Industries, Inc., a Delaware corporation. 
  
 (k) “Director” shall mean a member of the Board of Directors. 
  
 (l) “Exchange Act” shall mean the Securities Exchange Act of 1934, and any law that supersedes or replaces it, and the rules and
regulations thereunder, as such law, rules and regulations may be amended from time to time. 

 (m) “Fair Market Value” of Common Stock shall mean, solely for purposes of this Plan, as
of any particular date, the fair market value of the Common Stock as determined by the Committee, or pursuant to rules established by the Committee. 
  
 (n) “Investor Rights Agreement” shall mean the Investor Rights Agreement, dated as of September 15, 2003, among the Company, OCM
Principal Opportunities Fund II, L.P., Audax Chart LLC, and the other Stockholder parties thereto. 
  
 (o) “Notice of Award” shall mean any notice by the Committee to a Participant that advises the participant of the grant of an Award or
sets forth terms, conditions, and restrictions applicable to an Award. 
  
 (p) “Participant” shall mean any person to whom an Award has been granted under this Plan. 
  
 (q) “Person” shall mean an individual, partnership, corporation (including a business trust), joint stock company, trust, unincorporated
association, joint venture or other entity, or a governmental authority. 
  
 (r) “Related Person” means each of OCM Principal Opportunities Fund II, L.P., Audax Chart LLC, each other person who is a “Stockholder” party to the Investor Rights Agreement (as the term
“Stockholder” is defined in the Investor Rights Agreement) as of the date of adoption of this Plan, and the Affiliates of each of the foregoing. 
  
 (s) “Stock Equivalent Unit” shall mean an Award that is valued by reference to the value of shares of Common Stock. 
  
 (t) “Stock Option” shall mean an Award granted pursuant to
Section 6 hereof. 
  
 (u) “Subsidiary” means a
corporation, company or other entity (i) more than 50 percent of whose outstanding shares or securities (representing the right to vote for the election of directors or other managing authority) are, or (ii) which does not have outstanding shares or
securities (as may be the case in a partnership, joint venture or unincorporated association), but more than 50 percent of whose ownership interest representing the right generally to make decisions for such other entity is, now or hereafter, owned
or controlled, directly or indirectly, by the Company. 
  
 (v)
“Voting Power” shall mean, at any time, the total votes relating to the then-outstanding securities entitled to vote generally in the election of Directors. 
  
 (w) “Voting Stock” shall mean, at any time, the then-outstanding securities entitled to vote generally in
the election of Directors. 
  

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 Section 3. Eligibility 
  

All employees of the Company and its Affiliates are eligible for the grant of Awards. The selection of any such persons to receive Awards will be
within the discretion of the Committee. More than one Award may be granted to the same person. 
  
 Notwithstanding the foregoing, any individual who renounces in writing any right that he or she may have to receive Awards under the Plan shall not be eligible to receive any Awards hereunder. 
  
 Section 4. Shares of Common Stock Available for Awards; Adjustment 
  
 (a) Number of Shares of Common Stock. The maximum aggregate number of
shares of Common Stock that may be subject to Awards granted under this Plan during the term of this Plan is 494,703 shares of Common Stock, subject to any adjustments made in accordance with the terms of this Section 4. 
  
 The assumption of obligations in respect of awards granted by an organization
acquired by the Company, or the grant of Awards under this Plan in substitution for any such awards, will not reduce the number of shares of Common Stock available for the grant of Awards under this Plan. 
  
 Shares of Common Stock subject to an Award that is forfeited, terminated, or
canceled without having been exercised will again be available for grant under this Plan, without reducing the number of shares of Common Stock available for grant of Awards under this Plan. 
  
 (b) No Fractional Shares. No fractional shares of Common Stock will be
issued, and the Committee will determine the manner in which the value of fractional shares of Common Stock will be treated. 
  
 (c) Adjustment. In the event of any change in the Common Stock by reason of a merger, consolidation, reorganization, recapitalization, or similar
transaction, or in the event of a stock dividend, stock split, or distribution to stockholders (other than normal cash dividends), the Committee will have authority to adjust, in any manner that it deems equitable, the number of shares specified in
Section 4(a) and the number and class of shares of Common Stock subject to outstanding Awards, the exercise price applicable to outstanding Awards, and the Fair Market Value of the shares of Common Stock and other value determinations applicable to
outstanding Awards. 
  
 Section 5. Administration 
  
 (a) Committee. This Plan will be administered by the Committee. The
Committee will, subject to the terms of this Plan, have the authority to: (i) select the eligible employees who will receive Awards; (ii) grant Awards; (iii) determine the number and types of Awards to be granted to eligible employees; (iv)
determine the terms, conditions, vesting periods, and restrictions applicable to Awards, including timing and price; (v) adopt, alter, and repeal administrative rules and practices governing this Plan; (vi) interpret the terms and provisions of this
Plan and any Awards granted 
  

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 under this Plan, including, where applicable, determining the method of valuing any Award and certifying as to the
satisfaction of such Awards; (vii) prescribe the forms of any Notices of Award, Award Agreements, or other instruments relating to Awards; and (viii) otherwise supervise the administration of this Plan. 
  
 (b) Delegation. The Committee may delegate any of its authority to any
other Person or Persons that it deems appropriate. 
  
 (c)
Decisions Final. All decisions by the Committee, and by any other Person or Persons to whom the Committee has delegated authority, to the extent permitted by law, will be final and binding on all Persons. 
  
 (d) No Liability. Neither the Committee nor any of its members shall
be liable for any act taken by the Committee pursuant to the Plan. No member of the Committee shall be liable for the act of any other member. 
  
 Section 6. Awards 
  
 (a) Grant of Awards. The Committee will determine the Awards to be granted to each Participant and will set forth in the related Notice of Award or
Award Agreement the terms, conditions, vesting periods, and restrictions applicable to each Award. Awards may be granted in replacement of, or in substitution for, other awards granted by the Company, whether or not granted under this Plan. The
Company may assume obligations in respect of awards granted by any Person acquired by the Company or may grant Awards in replacement of, or in substitution for, any such awards. 
  
 (b) Types of Awards. Awards of Stock Options may be granted under the Plan. A Participant who is granted an Award of
a Stock Option shall have the right to purchase a specified number of shares of Common Stock, during a specified period, and at a specified exercise price, all as determined by the Committee. All Stock Options shall be non-qualified stock options
subject to the provisions of Section 83 of the Code. No Stock Option shall be intended to qualify as an incentive stock option under Section 422 of the Code. 
  
 (c) Termination of Awards. Any Award granted under this Plan shall expire, and the Participant to whom such Award was granted shall have no further
rights with respect thereto, on the tenth anniversary of the date of grant of such Award, or on such earlier date as may be established by the Committee and provided in the Notice of Award or Award Agreement with respect to such Award. 

 
 Section 7. Deferral of Payment 
  
 With the approval of the Committee, the delivery of the shares of Common
Stock, cash, or any combination thereof subject to an Award may be deferred, either in the form of installments or a single future delivery. The Committee may also permit selected Participants to defer the receipt of some or all of their Awards, as
well as other compensation, in accordance with procedures established by the Committee to assure that the recognition of taxable income is deferred under the 
  

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 Code. Deferred amounts may, to the extent permitted by the Committee, be credited as cash or Stock Equivalent Units. The
Committee may also establish rules and procedures for the crediting of interest on deferred cash payments and dividend equivalents on Stock Equivalent Units. 
  
 Section 8. Payment of Exercise Price 
  
 The exercise price of an Award may be paid in cash, by the transfer of shares of Common Stock, by the surrender of all or part of an Award (including the
Award being exercised), or by a combination of these methods, as and to the extent permitted by the Committee. The Committee may prescribe any other method of paying the exercise price that it determines to be consistent with applicable law and the
purpose of this Plan. 
  
 Section 9. Taxes Associated with Awards

  
 Prior to the payment of an Award or upon the exercise or
release thereof, the Company may withhold, or require a Participant to remit to the Company, an amount sufficient to pay any federal, state, and local taxes associated with the Award. The Committee may, in its discretion and subject to such rules as
the Committee may adopt, permit a Participant to pay any or all taxes associated with the Award in cash, by the transfer of shares of Common Stock, by the surrender of all or part of an Award (including the Award being exercised), or by a
combination of these methods. 
  
 Section 10. Termination of Employment

  
 If the employment of a Participant terminates for any
reason, all unexercised, deferred, and unpaid Awards may be exercisable or paid only in accordance with rules established by the Committee or as specified in the particular Award Agreement or Notice of Award. Such rules may provide, as the Committee
deems appropriate, for the expiration, continuation, or acceleration of the vesting of all or part of the Awards. 
  
 Section 11. Termination of Awards Under Certain Conditions 
  
 The Committee may cancel any unexpired, unpaid, or deferred Awards at any time if the Participant is not in compliance with all applicable provisions of
this Plan or with any Notice of Award or Award Agreement, or if the Participant, without the prior written consent of the Company, engages in any of the following activities: 
  
 (a) Renders services for an organization, or engages in a business, that is, in the judgment of the
Committee, in competition with the Company or its Subsidiaries; or 
  
 (b) Discloses to anyone outside of the Company or its Affiliates, or uses for any purpose other than the Company’s business any confidential information or material relating to the Company, whether acquired by
the Participant during or after employment with the Company, in a fashion or with a result that the Committee, in its judgment, deems is or may be injurious to the best interests of the Company. 
  
 The Committee may, in its discretion and as a condition to the exercise of an
Award, require 
  

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 a Participant to acknowledge in writing that he or she is in compliance with all applicable provisions of this Plan and
of any Notice of Award or Award Agreement and has not engaged in any activities referred to in clauses (a) and (b) above. 
  
 Section 12. Change in Control 
  
 (a) General. In the event of a Change in Control of the Company, the Committee shall have the right, in its sole discretion, to: (i) accelerate the
exercisability of any Stock Options, notwithstanding any limitations set forth in the Plan; (ii) cancel all outstanding Stock Options in exchange for the kind and amount of shares of the surviving or new corporation, cash, securities, evidences of
indebtedness, other property or any combination thereof receivable in respect of one share of Common Stock upon consummation of the transaction in question (the “Acquisition Consideration”) that the Participant would have received had the
Stock Option been exercised prior to such transaction, less the applicable exercise price therefor; (iii) cause the Participant to have the right thereafter and during the term of the Stock Option to receive upon exercise thereof the Acquisition
Consideration receivable upon the consummation of such transaction by a holder of the number of shares of Common Stock which might have been obtained upon exercise of all or any portion thereof; or (iv) take such other action as it deems appropriate
to preserve the value of the Award to the Participant. Alternatively, the Committee shall also have the right to require any purchaser of the Company’s assets or stock, as the case may be, to take any of the actions set forth in the preceding
sentence as such purchaser may determine to be appropriate or desirable. 
  
 (b) Definition. As used in this Plan, the term “Change in Control” shall mean the occurrence at any time after the date of this Plan of any of the following events: 
  
 (i) The Company is merged or consolidated or reorganized
into or with another corporation or other legal person or entity, other than a Related Person, and as a result of such merger, consolidation or reorganization less than a majority of the combined voting power of the then-outstanding securities of
such corporation, person or entity immediately after such transaction is held in the aggregate by the holders of Voting Stock immediately prior to such transaction; 
  
 (ii) The Company sells or otherwise transfers all or substantially all of its assets to any other
corporation or other legal person or entity, other than a Related Person, and less than a majority of the combined voting power of the then-outstanding securities of such corporation, person or entity immediately after such sale or transfer is held
in the aggregate by the holders of Voting Stock immediately prior to such sale or transfer; 
  
 (iii) Any person (as the term “person” is used in Section 13(d)(3) of the Exchange Act) other than a Related Person becomes the
beneficial owner (as the term “beneficial owner” is defined under Rule 13d-3 or any successor rule or regulation promulgated under the Exchange Act) of securities representing more than 50% of the Voting Power, unless such beneficial
ownership results solely from arrangements under which such person does not control the power to vote a majority of the Voting Power; 
  

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 (iv) The Company files a report or proxy statement with the Securities and Exchange
Commission pursuant to the Exchange Act disclosing in response to Form 8-K or Schedule 14A (or any successor schedule, form or report or item therein) that a change in control of the Company has or may have occurred or will or may occur in the
future pursuant to any then-existing contract or transaction other than a contract or transaction with a Related Person; or 
  
 (v) Such other or alternative event or events as the Committee shall, in its sole and absolute discretion, deem to be a “Change in
Control” for purposes of this Plan or any Notice of Award or Award Agreement entered into pursuant hereto. 
  
 Notwithstanding the foregoing provisions of paragraphs (iii) and (iv) of this Section 12(b), a “Change in Control” shall not be deemed to
have occurred (i) solely because (A) the Company, (B) a Subsidiary, (C) a Related Person, or (D) any Company-sponsored employee stock ownership plan or other employee benefit plan of the Company or any Subsidiary, or any entity holding shares of
Voting Stock for or pursuant to the terms of any such plan, becomes the beneficial owner (as the term “beneficial owner” is defined under Rule 13d-3 or any successor rule or regulation promulgated under the Exchange Act) of securities
representing more than 50% of the Voting Power or because the Company files a report or proxy statement disclosing that a change in control of the Company has or may have occurred or will or may occur in the future by reason of such beneficial
ownership, or (ii) solely because of a change in control of any Subsidiary. 
  
 The manner of application and interpretation of the foregoing provisions of this Section 12(b) shall be determined by the Committee in its sole and absolute discretion. 
  

	Section	13. Amendment, Suspension, or Termination of this Plan; Amendment of Outstanding Awards  

  
 (a) Amendment, Suspension, or Termination of this Plan. The Board of Directors may amend, suspend, or terminate this
Plan at any time; provided, however, that no action of the Board of Directors may result, without the approval of the Company’s stockholders, in making any change to the Plan that requires the approval of the Company’s stockholders in
order to comply with applicable law or the rules of the principal securities exchange (if any) upon which the Common Stock may then be traded or quoted. 
  
 (b) Amendment of Outstanding Awards. The Committee may, in its discretion, amend the terms of any Award, prospectively or retroactively, but no
such amendment may impair the rights of any Participant without his or her consent. The Committee may, in whole or in part, waive any restrictions or conditions applicable to, or accelerate the vesting of, any Award. 
  
 Section 14. Awards to Foreign Nationals and Employees Outside the United States

  
 To the extent that the Committee deems appropriate to
comply with foreign law or practice and to further the purpose of this Plan, the Committee may, without amending this Plan, (a) establish special rules applicable to Awards granted to Participants who are foreign nationals, are employed outside the
United States, or both, including rules that differ from those established generally under this Plan, and (b) grant Awards to such Participants in accordance with those rules. 
  

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 Section 15. Nonassignability 
  
 Unless otherwise determined by the Committee, (a) no Award granted under the Plan may be transferred or assigned by the
Participant to whom it is granted other than by will, pursuant to the laws of descent and distribution or pursuant to a qualified domestic relations order as defined in the Code, and (b) an Award granted under this Plan may be exercised, during the
Participant’s lifetime, only by the Participant or by the Participant’s guardian or legal representative. The Committee, in its sole discretion, may provide for the transferability of particular Awards under this Plan on such terms and
conditions as the Committee may determine. 
  
 Section 16. Terms of Awards and
Related Agreements Need not be Identical 
  
 The form and
substance of Awards, Award Agreements and Notices of Awards, whether granted at the same or different times, need not be identical. The determinations made by the Committee under the Plan need not be uniform and may be made selectively among persons
who receive or are eligible to receive Awards under the Plan, whether or not such persons are similarly situated. Without limiting the generality of the foregoing, the Committee shall be entitled, among other things, to make non-uniform and
selective determinations, and to enter into non-uniform and selective Award Agreements, in respect of (a) the persons eligible to receive awards under the Plan, (b) the terms and provisions of Awards under the Plan, and (c) the exercise by the
Committee of its sole discretion in respect of the Plan or any Award Agreement. 
  
 Subject only to the terms of the Plan, the Committee shall have the authority to prescribe the terms of any Awards and the provisions of any Award Agreements, Notices of Award or other instruments entered into with
respect to the same; it being expressly understood that the Committee shall have the authority to include in any such Award Agreements, Notices of Award or other instruments relating to Awards, such representations, warranties, covenants and
agreements on behalf of the Company or the Participant as it deems necessary or appropriate, including, without limitation, covenants relating to non-competition, non-solicitation and non-disclosure of confidential information and covenants
providing that part or all of the shares of Common Stock purchased upon the exercise of any Stock Option shall be or may be subject to restrictions on transfer in form and substance designated by the Committee. 
  
 Section 17. Securities Law and Related Matters 
  
 The Committee may, if it deems appropriate in its sole discretion, condition
any grant of an Award or sale of Common Stock to any Participant upon a receipt of an appropriate investment representation from the Participant in compliance with applicable securities laws, rules and regulations, and may require any Participant to
make such representations and furnish such information as it may, in its sole discretion, deem appropriate in connection with the grant of an Award or issuance of Common Stock in compliance with applicable law. 
  
 All certificates representing shares of Common Stock issued under this Plan
shall bear such legends as the Committee may deem appropriate in order to assure compliance with applicable securities laws, rules and regulations, applicable restrictions on transfer and any applicable provision of the Company’s Certificate of
Incorporation or By-Laws, as in effect from time to time. 
  

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 Section 18. Governing Law 
  
 The interpretation, validity, and enforcement of this Plan will, to the extent not otherwise governed by the Code or the
securities laws of the United States, be governed by the laws of the State of Delaware. 
  
 Section 19. No Rights as Employees/Stockholders 
  
 Nothing in the Plan or in any Award Agreement or Notice of Award shall confer upon any Participant any right to continue in the employ of the Company or an Affiliate of the Company or to be entitled to receive any remuneration or benefits
not set forth in the Plan or such Award Agreement or Notice of Award, or to interfere with or limit either the right of the Company or an Affiliate of the Company to terminate the employment of such Participant at any time with or without cause.
Nothing contained in the Plan or in any Award Agreement or Notice of Award shall be construed as entitling any Participant to any rights of a stockholder as a result of the grant of an Award until such time as shares of Common Stock are actually
issued to such Participant pursuant to the exercise of a Stock Option. 
  
 Section 20. Effective and Termination Dates 
  
 (a) Effective Date. This Plan was approved by the Board of Directors on February 12, 2004 and becomes effective upon that date. 
  
 (b) Termination Date. This Plan will continue in effect until midnight on February 12, 2014; provided, however, that Awards granted on or before
that date may extend beyond that date and restrictions and other terms and conditions imposed on any Award granted on or before that date may extend beyond such date. 
  

 9Trust Agreement

 Exhibit 10.10 
  
 TRUST UNDER “Chart Industries” 
  
 This Agreement made as of the date indicated below by and between Chart Industries, Inc. (the “Company”) and
Security Trust Company (the “Trustee”); 
  
 WHEREAS,
Company previously adopted a nonqualified deferred compensation plan effective November 6, 1997, and has amended and restated the plan as the Amended and Restated Chart Industries, Inc. Voluntary Deferred Income Plan (the “Plan”) effective
August 1, 2000; 
  
 WHEREAS, Company has incurred or expects to
incur liability under the terms of such Plan with respect to the individuals participating in such Plan; 
  
 WHEREAS, Company wishes to establish a trust (hereinafter called “Trust”) and to contribute to the Trust assets that shall be held therein,
subject to the claims of Company creditors in the event of Company Insolvency, as herein defined, until paid to Plan participants and their beneficiaries in such manner and at such times as specified in the Plan; 
  
 WHEREAS, it is the intention of the parties that this Trust shall constitute
an unfunded arrangement and shall not affect the status of the Plan as an unfunded plan maintained for the purpose of providing deferred compensation for a select group of management or highly compensated employees for purposes of Title I of the
Employee Retirement Income Security Act of 1974; 
  
 WHEREAS, it
is the intention of Company to make contributions to the Trust to provide itself with a source of funds to assist it in the meeting of its liabilities under the Plan; 
  
 NOW, THEREFORE, the parties do hereby establish the Trust and agree that the Trust shall be comprised, held and disposed of
as follows: 

 Section 1. Establishment of Trust. 
  
 (a) Company hereby deposits with Trustee in trust (an amount to be determined), which shall become the principal of the
Trust to be held, administered and disposed of by Trustee as provided in this Trust Agreement. 
  
 (b) The Trust hereby established shall be irrevocable. 
  
 (c) The Trust is intended to be a grantor trust, of which Company is the grantor, within the meaning of Subpart B, Part I, Subchapter J, Chapter 1, Subtitle A of the Internal Revenue Code of 1986, as amended, and
shall be construed accordingly. 
  
 (d) The principal of the
Trust, and any earnings thereon, shall be held separate and apart from other funds of Company and shall be used exclusively for the uses and purposes of Plan participants and general creditors as herein set forth. Plan participants and their
beneficiaries shall have no preferred claim on, or any beneficial ownership interest in, any assets of the Trust. Any rights created under the Plan and this Trust Agreement shall be mere unsecured contractual rights of Plan participants and their
beneficiaries against Company. Any assets held by the Trust will be subject to the claims of Company general creditors under federal and state law in the event of Insolvency, as defined in Section 3(a) herein. 
  
 (e) Company, in its sole discretion, may at any time, or from time to time,
make additional deposits of cash or other property in trust with Trustee to augment the principal to be held, administered and disposed of by Trustee as provided in this Trust Agreement. Neither Trustee nor any Plan participant or beneficiary shall
have any right to compel such additional deposits. 
  
 (f) Upon a
Change of Control, Company shall, as soon as possible, but in no event longer than sixty (60) days following the Change of Control, as defined herein, make an 
  

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 Irrevocable contribution to the Trust in an amount that is sufficient to pay each Plan participant or beneficiary the
benefits to which Plan participants or their beneficiaries would be entitled pursuant to the terms of the Plan as of the date on which the Change of Control occurred. 
  
 Section 2. Payments to Plan Participants and Their Beneficiaries. 
  
 (a) Company shall deliver to Trustee a schedule (the “Payment
Schedule”) that indicates the amounts payable in respect of each Plan participant (and his or her beneficiaries), that provides a formula or other instructions acceptable to Trustee for determining the amounts so payable, the form in which such
amount is to be paid (as provided for or available under the Plan), and the time of commencement for payment of such amounts. Except as otherwise provided herein, Trustee shall make payments to the Plan participants and their beneficiaries in
accordance with such Payment Schedule. The Trustee shall make provision for the reporting and withholding of any federal, state or local taxes that may be required to be withheld with respect to the payment of benefits pursuant to the terms of the
Plan and shall pay amounts withheld to the appropriate taxing authorities or determine that such amounts have been reported, withheld and paid by Company. 
  
 (b) The entitlement of a Plan participant or his or her beneficiaries to benefits under the Plan shall be determined by Company or such party as it shall
designate under the Plan, and any claim for such benefits shall be considered and reviewed under the procedures set out in the Plan. 
  
 (c) Company may make payment of benefits directly to Plan participants or their beneficiaries as they become due under the terms of the Plan. Company
shall notify Trustee of its decision to make payment of benefits directly prior to the time amounts are payable to participants or their beneficiaries. In addition, if the principal of the Trust, and any earnings 
  

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 thereon, are not sufficient to make payments of benefits in accordance with the terms of the Plan, Company shall make the
balance of each such payment as it falls due. Trustee shall notify Company where principal and earnings are not sufficient. 
  
 Section 3. Trustee Responsibility Regarding Payments to Trust Beneficiary When Company Is Insolvent. 
  
 (a) Trustee shall cease payment of benefits to Plan participants and their
beneficiaries if the Company is Insolvent. Company shall be considered Insolvent for purposes of this Trust Agreement if (i) Company is unable to pay its debts as they become due, or (ii) Company is subject to a pending proceeding as a debtor under
the United States Bankruptcy Code. 
  
 (b) At all times during the
continuance of this Trust, as provided in Section 1(d) hereof, the principal and income of the Trust shall be subject to claims of general creditors of Company under federal and state law as set forth below. 
  
 (1) The Board of Directors and the Chief Executive Officer
of Company shall have the duty to inform Trustee in writing of Company Insolvency. If a person claiming to be a creditor of Company alleges in writing to Trustee that Company has become Insolvent, Trustee shall determine whether Company is Insolvent
and, pending such determination, Trustee shall discontinue payment of benefits to Plan participants or their beneficiaries. 
  
 (2) Unless Trustee has actual knowledge of Company’s Insolvency, or has received notice from Company or a person claiming to be a
creditor alleging that Company is Insolvent, Trustee shall have no duty to inquire whether Company is Insolvent. Trustee may in all events rely on such evidence concerning Company’s solvency as may be furnished to Trustee 
  

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 and that provides Trustee with a reasonable basis for making a determination concerning Company’s
solvency. 
  
 (3) If at any time Trustee has
determined that Company is Insolvent, Trustee shall discontinue payments to Plan participants or their beneficiaries and shall hold the assets of the Trust for the benefit of Company’s general creditors. Nothing in this Trust Agreement shall in
any way diminish any rights of Plan participants or their beneficiaries to pursue their rights as general creditors of Company with respect to benefits due under the Plan or otherwise. 
  
 (4) Trustee shall resume the payment of benefits to Plan participants or their beneficiaries in accordance
with Section 2 of this Trust Agreement only after Trustee has determined that Company is not Insolvent (or is no longer Insolvent). 
  
 (c) Provided that there are sufficient assets, if Trustee discontinues the payment of benefits from the Trust pursuant to Section 3(b) hereof and
subsequently resumes such payments, the first payment following such discontinuance shall include the aggregate amount of all payments due to Plan participants or their beneficiaries under the terms of the Plan for the period of such discontinuance,
less the aggregate amount of any payments made to Plan participants or their beneficiaries by Company in lieu of the payments provided for hereunder during any such period of discontinuance. 
  
 Section 4. Payments to Company. 
  
 Except as provided in Section 3 hereof, Company shall have no right or power
to direct Trustee to return to Company or to divert to others any of the Trust assets before all payment of benefits have been made to Plan participants and their beneficiaries pursuant to the terms of the Plan. 
  

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 Section 5. Investment Authority. 
  
 (a) Trustee may invest in securities (including stock or rights to acquire stock) or obligations issued by Company. All
rights associated with assets of the Trust shall be exercised by Trustee or the person designated by Trustee, and shall in no event be exercisable by or rest with Plan participants, except that voting rights with respect to Trust assets will be
exercised by Company and dividend rights with respect to Trust assets will rest with Company. 
  
 (b) Company shall have the right at anytime, and from time to time in its sole discretion, to substitute assets of equal fair market value for any asset held by the Trust. This right is exercisable by Company in a
nonfiduciary capacity without the approval or consent of any person in a fiduciary capacity. 
  
 Section 6. Disposition of Income. 
  
 (a) During the term of this Trust, all of the income received by the Trust, net of expenses and taxes, shall be returned to Company. 
  
 Section 7. Accounting by Trustee. 
  
 Trustee shall keep accurate and detailed records of all investments, receipts, disbursements, and all other transactions
required to be made, including such specific records as shall be agreed upon in writing between Company and Trustee. Within thirty (30) days following the close of each calendar year and within thirty (30) days after the removal or resignation of
Trustee, Trustee shall deliver to Company a written account of its administration of the Trust during such year or during the period from the close of the last preceding year to the date of such removal or resignation, setting forth all investments,
receipts, disbursements and other transactions effected by it, including a description of all securities and investments purchased and sold with the cost or net proceeds of such purchases or sales (accrued interest paid or 
  

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 receivable being shown separately), and showing all cash, securities and other property held in the Trust at the end of
such year or as of the date of such removal or resignation, as the case may be. 
  
 Section 8. Responsibility of Trustee. 
  
 (a) Trustee shall act with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in like capacity and familiar with such matters would use in the conduct of an
enterprise of a like character and with like aims, provided, however, that Trustee shall incur no liability to any person for any action taken pursuant to a direction, request or approval given by Company which is contemplated by, and in conformity
with, the terms of the Plan or this Trust and is given in writing by Company. In the event of a dispute between Company and a party, Trustee may apply to a court of competent jurisdiction to resolve the dispute. 
  
 (b) If Trustee undertakes or defends any litigation arising in connection
with this Trust, Company agrees to indemnify Trustee against Trustee’s costs, expenses and liabilities (including, without limitation, attorneys’ fees and expenses) relating thereto and to be primarily liable for such payments. If Company
does not pay such costs, expenses and liabilities in a reasonably timely manner, Trustee may obtain payment from the Trust. 
  
 (c) Trustee may consult with legal counsel (who may also be counsel for Company generally) with respect to any of its duties or obligations hereunder.

  
 (d) Trustee may hire agents, accountants, actuaries,
investment advisors, financial consultants or other professionals to assist it in performing any of its duties or obligations hereunder. 
  

 7 

 (e) Trustee shall have, without exclusion, all powers conferred on Trustees by applicable law, unless
expressly provided otherwise herein, provided, however, that if an insurance policy is held as an asset of the Trust, Trustee shall have no power to name a beneficiary of the policy other than the Trust, to assign the policy (as distinct from
conversion of the policy to a different form) other than to a successor Trustee, or to loan to any person the proceeds of any borrowing against such policy. 
  
 (f) However, notwithstanding the provisions of Section 8(e) above, Trustee may loan to Company the proceeds of any borrowing against an insurance policy
held as an asset of the Trust. 
  
 (g) Notwithstanding any powers
granted to Trustee pursuant to this Trust Agreement or to applicable law, Trustee shall not have any power that could give this Trust the objective of carrying on a business and dividing the gains therefrom, within the meaning of section 301.7701-2
of the Procedure and Administrative Regulations promulgated pursuant to the Internal Revenue Code. 
  
 Section 9. Compensation and Expenses of Trustee. 
  
 Company shall pay all administrative and Trustee’s fees and expenses. If not so paid, the fees and expenses shall be paid from the Trust. 

 
 Section 10. Resignation and Removal of Trustee. 
  
 (a) Trustee may resign at any time by written notice to Company, which shall
be effective sixty (60) days after receipt of such notice unless Company and Trustee agree otherwise. 
  
 (b) Trustee may be removed by Company on sixty (60) days notice or upon shorter notice accepted by Trustee. 
  

 8 

 (c) Upon resignation or removal of Trustee and appointment of a successor Trustee, all assets shall
subsequently be transferred to the successor Trustee. The transfer shall be completed within thirty (30) days after receipt of notice of resignation, removal or transfer, unless Company extends the time limit. 
  
 (d) If Trustee resigns or is removed, a successor shall be appointed, in
accordance with Section 11 hereof, by the effective date of resignation or removal under paragraph(s) (a) or (b) of this Section. If no such appointment has been made, Trustee may apply to a court of competent jurisdiction for appointment of a
successor or for instructions. All expenses of Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust. 
  
 (e) Upon a Change of Control, as defined herein, Trustee may not be removed by Company for two (2) year(s). If Trustee resigns within two (2) year(s) of a
Change of Control, as defined herein, Trustee shall select a successor Trustee in accordance with the provisions of Section 11(b) hereof prior to the effective date of Trustee’s resignation. 
  
 Section 11. Appointment of Successor. 
  
 (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b)
hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be
effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably
requested by Company or the successor Trustee to evidence the transfer. 
  
 (b) If Trustee resigns pursuant to the provisions of Section 10(e) hereof and selects a successor Trustee, Trustee may appoint any third party such as a bank trust department or other 
  

 9 

 party that may be granted corporate trustee powers under state law. The appointment of a successor Trustee shall be
effective when accepted in writing by the new Trustee. The new Trustee shall have all the rights and powers of the former Trustee, including ownership rights in Trust assets. The former Trustee shall execute any instrument necessary or reasonably
requested by the successor Trustee to evidence the transfer. 
  
 (c) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company
shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee. 
  
 Section 12. Amendment or Termination. 
  
 (a) This Trust Agreement may be amended by a written instrument executed by
Trustee and Company. Notwithstanding the foregoing, no such amendment shall conflict with the terms of the Plan or shall make the Trust revocable after it has become irrevocable in accordance with Section 1(b) hereof. 
  
 (b) The Trust shall not terminate until the date on which Plan participants
and their beneficiaries are no longer entitled to benefits pursuant to the terms of the Plan. Upon termination of the Trust any assets remaining in the Trust shall be returned to Company. 
  
 (c) Upon written approval of participants or beneficiaries entitled to payment of benefits pursuant to the terms of the
Plan, Company may terminate this Trust prior to the time all benefit payments under the Plan have been made. All assets in the Trust at termination shall be returned to Company. 
  

 10 

 (d) Section(s) 10(e) and 11(b) of this Trust Agreement may not be amended by the Company for two (2)
year(s) following a Change of Control, as defined herein. 
  
 Section 13. Miscellaneous. 
  
 (a) Any provision
of this Trust Agreement prohibited by law shall be ineffective to the extent of any such prohibition, without invalidating the remaining provisions hereof. 
  
 (b) Benefits payable to Plan participants and their beneficiaries under this Trust Agreement may not be anticipated, assigned (either at law or in
equity), alienated, pledged, encumbered or subjected to attachment, garnishment, levy, execution or other legal equitable process. 
  
 (c) This Trust Agreement shall be governed by and construed in accordance with the laws of Delaware. 
  
 (d) For purposes of this Trust, Change of Control shall mean an occurrence in
which: 
  
 (1) a person, including any syndicate
or group deemed to be a person, other than the Company’s Employee Stock Ownership Trust, becomes the beneficial owner, directly or indirectly, of securities of the Company having 51% or more of the total number of votes which may be cast
for Directors of the Company (as the terms “person,” “directly or indirectly” and “beneficial owner” are used in Section 13(d)(1) of the Securities Exchange Act of 1934); or 
  
 (2) during any period of two consecutive years, individuals
who constitute the Board of Directors at the beginning of such period cease for any reason to constitute at least a majority thereof unless the election, or the nomination for election by the Company’s shareholders, of each new director was
approved by a vote of at least two-thirds of 
  

 11 

 the Board of Directors then still in office who were Board of Director members at the beginning of such
period. 
  
 Section 14. Effective Date. 
  
 The effective date of this Trust Agreement shall be August 1, 2000 EXECUTED
as this 27 day of September, 2000. 
  

			
	Chart Industries
		
	By:	 	/s/    Mark H. Ludwig        
	 	 	

	 Title:
	 	Corporate Director, Human Resources

  

			
	
	Security Trust Company
		
	By:	 	/s/    M. McDermott        
	 	 	

	 Title:
	 	VP

  

 12

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