Document:

EX-10.39

Exhibit 10.39

DANA HOLDING CORPORATION

RESTRICTED STOCK UNIT AWARD AGREEMENT

Award Date:                                         

     1. The Award and the Plan. As of the Award Date set forth in the Award Notification
preceding or accompanying this Restricted Stock Unit Award Agreement (the “Agreement”), Dana
Holding Corporation (“Dana”) grants to you the right to earn the number of restricted stock units
set forth in such Award Notification (“RSUs”). Any undefined terms in this Agreement appearing as
defined terms will have the same meaning as they do in the Dana Holding Corporation 2008 Omnibus
Incentive Plan, as amended and/or restated from time to time (the “Plan”). Dana will provide a
copy of the Plan to you upon request.

     2. Payment of RSUs. The RSUs covered by this Agreement will become payable to you if
they become nonforfeitable in accordance with Sections 3, 4, or 5 below.

     3. Vesting of RSUs. Subject to the terms and conditions of Sections 4, 5 and 6 below,
your right to receive one hundred percent (100%) of the shares of Common Stock or cash subject to
the RSUs will become nonforfeitable on the ___anniversary of the Award Date (the “Vesting Date”)
if you remain continuously employed by Dana or any of its Subsidiaries until such time.

     4. Effect of Change in Control. In the event a Change in Control occurs prior to the
RSUs becoming nonforfeitable as provided in Section 3 above and while you are an employee of Dana
or any Subsidiary, the RSUs covered by this Agreement will become nonforfeitable and payable to
you. However, if the Change in Control does not constitute a “change in control” for purposes of
Section 409A(a)(2)(A)(v) of the Code, then issuance of the Common Shares underlying the RSUs (or
payment of any other form of consideration into which the Common Shares underlying the RSUs may
have been converted in connection with the Change in Control) will be made, to the extent necessary
to comply with the provisions of Section 409A of the Code, to you on the earlier of (a) your
“separation from service” with Dana and its Subsidiaries (determined in accordance with Section
409A(a)(2)(A)(i) of the Code) (or, if you are a “specified employee” as determined pursuant to
procedures adopted by Dana in compliance with Section 409A of the Code, the date of issuance or
payment will be the first day of the seventh month after the date of your separation from service
with Dana and its Subsidiaries within the meaning of Section 409A(a)(2)(A)(i) of the Code), (b) the
Vesting Date under Section 3, or (c) your death.

     5. Effect of Termination Due to Death, Disability, Normal Retirement or Termination
without Cause. Notwithstanding Section 3 above, if you die, become Disabled while in the
employ of Dana or any Subsidiary, in the event of your Normal Retirement of or you are terminated
without Cause, a prorated portion of the RSUs covered by this Agreement will become nonforfeitable,
based on the number of full or partial months you were employed during the three-year performance
period ending on the Vesting Date. Any such RSUs awarded will become payable on the Vesting Date.
If the event triggering the right to payment under this Agreement is the your Normal Retirement or
Termination without Cause and you are a “specified employee” as determined pursuant to procedures
adopted by Dana in compliance with Section 409A of the Code, the date of issuance will be the first
day of the seventh month after the date of your separation from service with Dana or any of its
Subsidiaries within the meaning of Section 409A(a)(2)(A)(i) of the Code.

     6. Other Employment Terminations. In the event that your employment will terminate in
a manner other than any specified in Sections 4 or 5 above, you will forfeit any RSUs that have not
become nonforfeitable by you at the time of such termination.

     7. Form and Time of Payment of RSUs. Except as otherwise provided for in Section 10,
payment for the RSUs will be made in form of shares of Common Stock or cash, at the discretion of

 

 

Dana, at the time they become nonforfeitable or otherwise become payable in accordance with
Sections 3, 4 or 5 above. To the extent that Dana is required to withhold any federal, state,
local or foreign taxes in connection with the delivery of shares of Common Stock to you or any
other person under this Agreement, and the amounts available to Dana for such withholding are
insufficient, it will be a condition to the receipt of such delivery that you will pay such taxes
or make arrangements that are satisfactory to Dana for payment thereof. You may elect to have the
number of shares of Common Stock to be delivered to you or such other person reduced (based on the
Market Value Per Share as of the date the RSUs become payable) to provide for the taxes required to
be withheld, with any fractional shares that would otherwise be delivered being rounded up to the
next nearest whole share. In no event, however, will the Market Value Per Share of the shares of
Common Stock to be withheld and/or delivered pursuant to this Section to satisfy applicable
withholding taxes in connection with the benefit exceed the minimum amount of taxes required to be
withheld. The Board (or the Compensation Committee) may, at its discretion, adopt any alternative
method of providing for taxes to be withheld.

     8. Payment of Dividend Equivalents. From and after the Award Date and until the
earlier of (a) the time when the RSUs become nonforfeitable and payable in accordance with Sections
3, 4, or 5 above or (b) the time when your right to receive shares of Common Stock upon payment of
RSUs is forfeited in accordance with Section 6 above, on the date that Dana pays a cash dividend
(if any) to holders of shares of Common Stock generally, you will be entitled to a number of
additional whole RSUs determined by dividing (i) the product of (A) the dollar amount of the cash
dividend paid per share of Common Stock on such date and (B) the total number of RSUs (including
dividend equivalents paid thereon) previously credited to you as of such date, by (ii) the Market
Value Per Share on such date. Such dividend equivalents (if any) will be subject to the same terms
and conditions and will be settled or forfeited in the same manner and at the same time as the RSUs
to which the dividend equivalents were credited.

     9. RSUs Nontransferable. Neither the RSUs granted hereby nor any interest therein or
in the shares of Common Stock related thereto will be transferable or assignable other than by will
or the laws of descent and distribution prior to payment.

     10. Adjustments. Dana will make any adjustments in the number of RSUs or other
securities covered by this Agreement that Dana may determine to be equitably required to prevent
any dilution or expansion of your rights under this Agreement that otherwise would result from any
(a) stock dividend, stock split, reverse stock split, combination of shares, recapitalization or
other change in the capital structure of Dana, (b) merger, consolidation, spin-off, split-off,
spin-out, split-up, separation, reorganization, partial or complete liquidation involving Dana or
other distribution of assets, issuance of rights or warrants to purchase securities of Dana, or (c)
other transaction or event having an effect similar to any of those referred to in Sections 10(a)
or 10(b). Furthermore, in the event that any transaction or event described or referred to in the
immediately preceding sentence will occur, Dana may provide in substitution of any or all of your
rights under this Agreement such alternative consideration as Dana may determine in good faith to
be equitable under the circumstances.

     11. Compliance with Section 409A of the Code. To the extent applicable, it is
intended that this Agreement and the Plan comply with the provisions of Section 409A of the Code,
so that the income inclusion provisions of Section 409A(a)(1) of the Code do not apply to you.
This Agreement and the Plan will be administered in a manner consistent with this intent.
Reference to Section 409A of the Code is to Section 409A of the Internal Revenue Code of 1986, as
amended, and will also include any regulations or any other formal guidance promulgated with
respect to such Section by the U.S. Department of the Treasury or the Internal Revenue Service.

     12. Right to Terminate Employment. Nothing contained in this Agreement will confer
upon you any right with respect to continuance of employment by Dana or any Subsidiary, nor limit
or affect in

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any manner the right of Dana or any Subsidiary to terminate the employment or adjust your
compensation.

     13. Information. Information about you and your participation in the Plan may be
collected, recorded and held, used and disclosed for any purpose related to the administration of
the Plan. You understand that such processing of this information may need to be carried out by
Dana and its Subsidiaries and by third party administrators whether such persons are located within
your country or elsewhere, including the United States of America. You consent to the processing
of information relating to you and your participation in the Plan in any one or more of the ways
referred to above.

     14. Relation to Plan. This Agreement is subject to the terms and conditions of the
Plan. In the event of any inconsistency between the provisions of this Agreement and the Plan, the
Plan will govern. The Board (or a committee of the Board) acting pursuant to the Plan, as
constituted from time to time, will, except as expressly provided otherwise herein, have the right
to determine any questions which arise in connection with the grant of the RSUs. By your
acceptance of the award under this Agreement, you acknowledge receipt of a copy of the Prospectus
for the Plan and your agreement to the terms and conditions of the Plan and this Agreement.

     15. Amendments. Any amendment to the Plan will be deemed to be an amendment to this
Agreement to the extent that the amendment is applicable hereto; provided, however,
that no amendment will adversely affect your rights under this Agreement without your consent
(provided, however, that your consent will not be required to an amendment that is deemed necessary
by Dana to ensure compliance with Section 409A of the Code).

     16. Severability. If any provision of this Agreement or the application of any
provision in this Agreement to any person or circumstances is held invalid, unenforceable or
otherwise illegal, the remainder of this Agreement and the application of such provision to any
other person or circumstances will not be affected, and the provisions so held to be invalid,
unenforceable or otherwise illegal will be reformed to the extent (and only to the extent)
necessary to make it enforceable, valid and legal.

     17. Compliance with Law. Dana will make reasonable efforts to comply with all
applicable federal and state securities laws; provided, however, that
notwithstanding any other provision of this Agreement, the RSUs covered by this Agreement will not
be paid if the payment thereof would result in violation of any such law.

     18. Successors and Assigns. Without limiting Section 9 above, the provisions of this
Agreement will inure to the benefit of, and be binding upon, your successors, administrators,
heirs, legal representatives and assigns, and the successors and assigns of Dana.

     19. Governing Law. This Agreement will be governed by and construed in accordance
with the internal substantive laws of the State of Delaware, without giving effect to any
principles of conflict of laws thereof.

[signature page follows]

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     IN WITNESS WHEREOF, this Agreement has been executed by an appropriate officer of Dana
Holding Corporation and by you, both as of the day and year first above written.

DANA HOLDING CORPORATION

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

	 	 

	 	 	 	 	 
	Name:
	 	 	 	 
	 

	 	 

	 	 

	 	 	 	 	 
	Title:
	 	 	 	 
	 

	 	 

	 	 

	 	 	 
	 

Recipient Signature

	 	 

	 	 	 
	 

Print Name

	 	 

4EX-10.40

 

Exhibit 10.40

DANA HOLDING CORPORATION

PERFORMANCE SHARE AWARD AGREEMENT

Award Date:                     

     1. The Award and the Plan. As of the Award Date set forth in the Award Notification
preceding or accompanying this Performance Share Award Agreement (the “Agreement”), Dana Holding
Corporation (“Dana”) grants to you the right to earn the number of its Shares set forth in such
Award Notification (the “Performance Shares”), to be issued to you if you earn all of, any portion
of, or more than, the Performance Shares by Dana meeting certain specified performance goals (“Dana
Performance Goals”) approved by Dana. Any undefined terms in this Agreement appearing as defined
terms will have the same meaning as they do in the Dana Holding Corporation 2008 Omnibus Incentive
Plan, as amended and/or restated from time to time (the “Plan”). Dana will provide a copy of the
Plan to you upon request.

     2. Earning of Performance Shares.

          (a) Performance Measure: Your right to receive all of, any portion of, or more than,
the Performance Shares will be contingent upon the achievement of the Dana Performance Goals and
will be measured over the period from January 1, 20
___ through December 31, 20 ___ (the “Performance
Period”).

          (b) Below Threshold: If, upon the conclusion of the Performance Period, Dana’s
performance for the Performance Period falls below the threshold level, as set forth in the Dana
Performance Goals, no Performance Shares for the Performance Period will become earned.

          (c) Threshold: If, upon the conclusion of the Performance Period, Dana’s performance
for the Performance Period equals the threshold level, as set forth in the Dana Performance Goals,
a certain portion of the Performance Shares, as previous approved by the Board of Directors or
committee thereof, for the Performance Period will become earned.

          (d) Between Threshold and Target: If, upon the conclusion of the Performance Period,
Dana’s performance exceeds the threshold level, but is less than the target level, as set forth in
the Dana Performance Goals, the Performance Shares will become earned based on performance during
the Performance Period, as previously set by the Board of Directors or committee thereof.

          (e) Target: If, upon the conclusion of the Performance Period, Dana’s performance for
the Performance Period equals the target level, as set forth in the Dana Performance Goals, 100% of
the Performance Shares for the Performance Period will become earned.

          (f) Between Target and Maximum: If, upon the conclusion of the Performance Period,
Dana’s performance exceeds the target level, but is less than the maximum level, as set forth in
the Dana Performance Goals, the Performance Shares will become earned based on performance during
the Performance Period, as previously approved by the Board of Directors or committee thereof.

          (g) Equals or Exceeds Maximum: If, upon the conclusion of the Performance Period,
Dana’s performance for the Performance Period equals or exceeds the maximum level, as set forth in
the Dana Performance Goals, a previously approved portion of the Performance Shares will become
earned, subject to any cap set by the Board.

          (h) Conditions; Determination of Earned Award: Except as otherwise provided in this
Agreement, your right to receive any Performance Shares is contingent upon you remaining in the
continuous employ of Dana or a Subsidiary through the end of the Performance Period. Following the

 

 

Performance Period, the Board will determine whether and to what extent the goals relating to
Dana Performance Goals have been satisfied for the Performance Period and will determine the number
of Performance Shares that will have become earned hereunder.

          (i) Modification of Management Objectives: If Dana determines that a change in the
business, operations, corporate structure or capital structure of Dana, the manner in which it
conducts business or other events or circumstances render the measurement of the Dana Performance
Goals to be unsuitable, Dana may modify the calculation of the Dana Performance Goals or the
related minimum acceptable level of achievement, in whole or in part, as Dana deems appropriate.

     3. Prorated Earning of Performance Shares.

          (a) Effect of Termination Due to Death, Disability, Normal Retirement or Termination
without Cause: Notwithstanding Section 2(j), if, during the Performance Period, but before the
payment of any Performance Shares as set forth in Section 5, you die or becomes Disabled while in
the employ of Dana or any Subsidiary, in the event of your Normal Retirement or you are terminated
without cause during the Performance Period, then you will be entitled to receive such number of
the Performance Shares as is determined pursuant to Section 2 at the conclusion of the Performance
Period as if you had remained in the continuous employ of Dana or a Subsidiary through the end of
the Performance Period, based on the Dana Performance Goals during the Performance Period,
prorated, based on the number of whole months that you were employed by Dana or any Subsidiary
during the Performance Period. Any Performance Shares awarded will become payable after the
Performance Period has concluded. Notwithstanding the foregoing, with respect to Performance
Shares intended to qualify as “performance-based compensation” within the meaning of section
162(m)4(C), in the event of a Normal Retirement, there will be no distribution of such Performance
Shares prior to the attainment of the relevant performance objectives.

          (b) Change in Control: Notwithstanding Section 2(j), if, during the Performance
Period, but before the payment of any Performance Shares as set forth in Section 5, a Change in
Control of Dana occurs while you are an employee of Dana or any Subsidiary, then you will be
entitled to receive a prorated number of the Performance Shares provided for under Section 2(e).

     4. Forfeiture of Award. Except to the extent you have earned the right to receive
Performance Shares pursuant to Sections 2 or 3 hereof, your right to receive Performance Shares
will be forfeited automatically and without further notice on the date that you cease to be an
employee of Dana or any Subsidiary prior to the last day of the Performance Period or, in the event
that Section 3(b) applies, on the date on which the Change in Control occurs. In the event that
you intentionally commit an act that the Compensation Committee and/or Board determines to be
materially adverse to the interests of Dana or any Subsidiary, your right to receive Performance
Shares covered by this Agreement will be forfeited at the time of that determination
notwithstanding any other provision of this Agreement.

     5. Payment of Performance Shares.

          (a) Except as provided in Sections 5(b) and 5(c), Performance Shares earned as provided in
Section 2 hereof will be paid to you in shares of Common Stock or cash, at the discretion of Dana,
in the calendar year immediately following the close of the Performance Period to which the award
relates, but in no event later than two and one-half (2 1/2) months after the close of the
Performance Period.

          (b) The prorated portion of the Performance Shares earned pursuant to Section 3(a) hereof will
be paid to you or your executor or administrator, as the case may be, in shares of Common Stock or
cash, in the discretion of Dana, in the calendar year immediately following the last day of the

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Performance Period, but in no event later than two and one-half (2 1/2) months after the close
of the Performance Period to which the award relates.

          (c) The prorated portion of the Performance Shares earned pursuant to Section 3(b) will be
paid to you in shares of Common Stock or cash, in the discretion of Dana, as soon as practicable
following the Change in Control, but in no event later than two and one-half (2 1/2) months
following the end of the year in which the Change in Control occurs.

     6. Transferability. Your right to receive any Performance Shares will not be
transferable nor assignable by you other than by will or by the laws of descent and distribution.

     7. Right to Terminate Employment. Nothing contained in this Agreement will confer
upon you any right with respect to continuance of employment by Dana or any Subsidiary, nor limit
or affect in any manner the right of Dana or any Subsidiary to terminate the employment or adjust
your compensation.

     8. Taxes and Withholding. To the extent that Dana is required to withhold any
federal, state, local or foreign taxes in connection with the payment of any Performance Shares in
shares of Common Stock or cash, and the amounts available to Dana for such withholding are
insufficient, it will be a condition to the payment of any Performance Shares that you will pay
such taxes or make arrangements that are satisfactory to Dana for the payment thereof.

     9. Payment of Dividends. No dividends will be accrued or earned with respect to any
Performance Shares until such Performance Shares are earned by you as provided in this Agreement.

     10. Adjustments. In the event of any change in the aggregate number of outstanding
shares of Common Stock by reason of (a) any stock dividend, extraordinary dividend, stock split,
reverse stock split, combination of shares, recapitalization or other change in the capital
structure of Dana, or (b) any Change in Control, merger, consolidation, spin-off, split-off,
spin-out, split-up, reorganization or partial or complete liquidation, or other distribution of
assets, issuance of rights or warrants to purchase securities, or (c) any other corporate
transaction or event having an effect similar to any of the foregoing, then the Board will adjust
the number of Performance Shares or Performance Shares then held by you in such manner as to
prevent dilution or enlargement of the rights of you that otherwise would result from such event.
Moreover, in the event of any such transaction or event, the Board (or a committee of the Board),
in its discretion, may provide in substitution for any or all of your rights under this Agreement
such alternative consideration as it may determine to be equitable in the circumstances.

     11. Compliance with Section 409A of the Code. To the extent applicable, it is
intended that this Agreement and the Plan comply with the provisions of Section 409A of the Code,
so that the income inclusion provisions of Section 409A(a)(1) of the Code do not apply to you.
This Agreement and the Plan will be administered in a manner consistent with this intent.
Reference to Section 409A of the Code is to Section 409A of the Internal Revenue Code of 1986, as
amended, and will also include any proposed, temporary or final regulations, or any other guidance
promulgated with respect to such Section by the U.S. Department of the Treasury or the Internal
Revenue Service.

     12. Compliance with Law. Dana will make reasonable efforts to comply with all
applicable federal and state securities laws; provided, however, that
notwithstanding any other provision of this Agreement, no Performance Shares will be paid if the
payment thereof would result in a violation of any such law.

     13. Amendments. Any amendment to the Plan will be deemed to be an amendment to this
Agreement to the extent that the amendment is applicable hereto; provided, however,
that no amendment will adversely affect your rights under this Agreement without your consent
(provided, however, that your

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consent will not be required to an amendment that is deemed necessary by Dana to ensure
compliance with Section 409A of the Code).

     14. Information. Information about you and your participation in the Plan may be
collected, recorded and held, used and disclosed for any purpose related to the administration of
the Plan. You understand that such processing of this information may need to be carried out by
Dana and its Subsidiaries and by third party administrators whether such persons are located within
your country or elsewhere, including the United States of America. You consent to the processing
of information relating to you and your participation in the Plan in any one or more of the ways
referred to above.

     15. Severability. In the event that one or more of the provisions of this Agreement
will be invalidated for any reason by a court of competent jurisdiction, any provision so
invalidated will be deemed to be separable from the other provisions hereof, and the remaining
provisions hereof will continue to be valid and fully enforceable.

     16. Relation to Plan. This Agreement is subject to the terms and conditions of the
Plan. In the event of any inconsistency between the provisions of this Agreement and the Plan, the
Plan will govern. The Compensation Committee and/or Board acting pursuant to the Plan, as
constituted from time to time, will, except as expressly provided otherwise herein or in the plan,
have the right to determine any questions which arise in connection with the grant of Performance
Shares. By your acceptance of the award under this Agreement, you acknowledge receipt of a copy of
the Prospectus for the Plan and your agreement to the terms and conditions of the Plan and this
Agreement.

     17. Successors and Assigns. Without limiting Section 6 above, the provisions of this
Agreement will inure to the benefit of, and be binding upon, your successors, administrators,
heirs, legal representatives and assigns, and the successors and assigns of Dana.

     18. Governing Law. The interpretation, performance, and enforcement of this Agreement
will be governed by the laws of the State of Delaware, without giving effect to the principles of
conflict of laws thereof.

[signature page follows]

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IN WITNESS WHEREOF, this Agreement has been executed by an appropriate officer of Dana Holding
Corporation and by you, both as of the day and year first above written.

DANA HOLDING CORPORATION

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

	 	 
	Name:
	 	 	 	 
	 

	 	 

	 	 
	Title:
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 	 	 
	Recipient Signature	 	 
	 
	 	 	 	 
	 	 	 
	Print Name	 	 

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