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Exhibit 10.3

Cash Performance Award

/$CurrentDate$/

TO:    /$ParticipantName$/

«Name»

Here are the details for your Cash Performance Award:

Your business unit -                        /$UserCode3$/
The Performance Period is the three-year period -            2021 - 2023
Your target Cash Performance Award payout at the 100% level -    /$AwardsGranted$//$GrantCode4$/

The actual Cash Performance Award amount to be paid to you, if any, will be derived from the Cash Performance Payout Table included in this Award agreement.

Your Cash Performance Award is subject to all the terms and provisions of the Dover Corporation ("Dover") 2012 Equity and Cash Incentive Plan, as amended from time to time ("Plan"), which terms and provisions are expressly incorporated into and made a part of the award as if set forth in full herein. Capitalized terms used but not defined herein have the meanings ascribed to them in the Plan. A copy of the Plan and any Plan amendments can be found at www.dovercorporation.com in the Investor Information area, under SEC Filings, in the Proxy Statement filed on March 19, 2012, Appendix A.

In addition, your Cash Performance Award is subject to the following:

1.Within two and one-half months following the end of the Performance Period, your Dover Operating Company will pay you a Cash Performance Award payout if your business unit has reached certain levels of internal total shareholder return (“iTSR”), as set forth in the Cash Performance Payout Table, and the other conditions of your Cash Performance Award are satisfied.

2.A summary of the definition of iTSR for your business unit is set forth in the Definition of iTSR included in this Award agreement.

3.The aggregate maximum cash payout for each business unit (determined after applying the individual payout limitation noted in the next sentence, if applicable) in respect of all Cash Performance Awards for a specific Performance Period shall not exceed the product of (i) 1.75%, times (ii) the sum of the business unit’s change in entity value plus free cash flow (as such terms are defined in the Definition of iTSR) for that Performance Period. In no event will the Cash Performance Award payout to any one individual exceed $10 million for the Performance Period.

4.As a condition of receiving your Cash Performance Award, you agree to be bound by the terms and conditions of Dover’s Anti- hedging and Anti-pledging Policy (which is part of Dover’s Securities Trading and Confidentiality Policy) and by Dover’s Clawback Policy, as such policies may be in effect from time to time. The Anti-hedging and Anti-pledging Policy prohibits hedging or pledging any Dover equity securities held by you or certain designees, whether such Dover securities are, or have been, acquired under the Plan, another compensation plan sponsored by Dover, or otherwise. Please review the Anti-hedging and Anti-pledging Policy to make sure that you are in compliance. You may obtain a copy of the current version of the Anti-hedging Policy and Anti-pledging Policy, and the Clawback Policy, by contacting the Benefits Department at 630-541-1540.

5.For Non-US Employees, your Cash Performance Award is subject to the terms and conditions of the Addendum for Non-US Employees.

TO:    «/$ParticipantName$/

6.Your Cash Performance Award is not transferrable by you other than by will or the laws of descent and distribution and in accordance with the applicable terms and conditions of the Plan.

7.Dover reserves the right to amend, modify, or terminate the Plan at any time in its discretion without notice.

Cash Performance Payout Table
						
	iTSR for Performance Period	Payout (% of target)
	<5%	0%
	5%	25%
	8%	100%
	16%	300%
	>30%	500%

The payout formula will be applied on a sliding scale based on the business unit’s iTSR for the Performance Period.

    ---------------------------------------------------------------------------------------------------------------------------------------

Definition of iTSR

Conceptual formula for iTSR calculation:

Explanation of iTSR formula:

Change in entity value is nine times the change in EBITDA values, comparing the full base year to the full final year of the performance period. The base year iTSR is the minimum value of an Operating Company, to which the 9X multiple is applied to calculate an EV. The base year iTSR is calculated using the highest of the following:

(i)    Base-Year EBITDA
(ii)    10% of Base-Year Sales
(iii)    90% of Prior-to-Base-Year iTSR Base

Free cash flow is cash flow generated by your Operating Company that is returned to Dover and is operating profit (EBIT) of the business plus depreciation and amortization, minus taxes, minus the change in working capital, and investments made for future growth (capital spending). 

EBITDA is pre-tax income adjusted for non-operating and non-recurring items plus depreciation and amortization.

TO:    «/$ParticipantName$/

Mathematical Formula for 3 Year iTSR Cash Performance Plan payout:

Rules for Transfers/Promotions

The following rules will apply to you if you are transferred from one Dover business unit to another Dover business unit. These rules apply to all Cash Performance payments you may be entitled to under this and any other Cash Performance Award under the Plan you may have, as if part of your original Award.

(i)      For the first Cash Performance payment date that occurs after your transfer, any Cash Performance payment that may be due will be based on the performance of your old business unit.

(ii)     For the second Cash Performance payment date that occurs after your transfer, any Cash Performance payment that may be due will be based on the performance of either your old business unit or your new business unit, whichever results in the higher payment to you.

(iii)    For the third Cash Performance payment date that occurs after your transfer, any Cash Performance payment that may be due will be based on the performance of your new business unit.

(iv)    Any Cash Performance payment under an award made at one business unit that becomes payable after you transfer to another business unit will still be based on that Award’s original dollar amount.

For purposes of these rules your old business unit is the business unit indicated on your Award. Your new business unit is the business unit where you are employed on the payment date.Document

Exhibit 10.4

Performance Share Award

/$CurrentDate$/

TO:    /$ParticipantName$/

Here are the details for your Performance Share Award:
The Performance Period is the three-year period -    2021 - 2023
Your target Performance Share Award at the 100% level -    /$AwardsGranted$/ Shares

The actual Performance Shares to be paid to you, if any, will be derived from the Performance Share Payout Table included in this Award agreement.

Your Performance Share Award is subject to all the terms and provisions of the Dover Corporation ("Dover") 2012 Equity and Cash Incentive Plan, as amended from time to time ("Plan"), which terms and provisions are expressly incorporated into and made a part of the Award as if set forth in full herein. Capitalized terms used but not defined herein have the meanings ascribed to them in the Plan. A copy of the Plan and any Plan amendments can be found at www.dovercorporation.com, in the Investor Information area, under SEC Filings, in the Proxy Statement filed on March 19, 2012, Appendix A.

In addition, your Performance Share Award is subject to the following:

1.Within two and one-half months following the end of the Performance Period, Dover will issue you Common Stock based on Dover’s TSR Ranking, as set forth in the Performance Share Payout Table included in this Award agreement, and if the other conditions of your Performance Share Award are satisfied. For any Section 16 Person, Dover shall issue shares of Common Stock for the vested Performance Share Award less applicable tax withholding.

2.A summary of the components of the Dover’s TSR Ranking is set forth in the Definitions Section included in this Award agreement.

3.In no event will the performance payout to any one individual exceed 500,000 shares of Common Stock for the Performance Period.

4.As a condition of receiving your Performance Share Award, you agree to be bound by the terms and conditions of Dover’s Anti-hedging and Anti-pledging Policy (which is part of Dover’s Securities Trading and Confidentiality Policy) and by Dover’s Clawback Policy, as such policies may be in effect from time to time. The Anti-hedging and Anti-pledging Policy prohibits hedging or pledging any Dover equity securities held by you or certain designees, whether such Dover securities are, or have been, acquired under the Plan, another compensation plan sponsored by Dover, or otherwise. Please review the Anti-hedging and Anti-pledging Policy to make sure that you are in compliance. You may obtain a copy of the current version of the Anti- hedging and Anti-pledging Policy, and the Clawback Policy, by contacting the Benefits Department at 630- 541-1540.

5.For Non-US Employees, your Performance Share Award is subject to the terms and conditions of the Addendum for Non-US Employees.

6.Your Performance Share Award is not transferrable by you other than by will or the laws of descent and distribution and in accordance with the applicable terms and conditions of the Plan.

7.Dover reserves the right to amend, modify, or terminate the Plan at any time in its discretion without notice.

Performance Share Payout Table

						
	Dover’s TSR Ranking for Performance Period
	Payout (% of target)

	90th Percentile or above
	300%

	75th Percentile
	200%

	50th Percentile
	100%

	25th Percentile
	50%

	Below 25th Percentile
	0%

If Dover’s TSR Ranking for the Performance Period is between two of the levels set forth in the table above, the Payout percentage shall be determined using linear interpolation. In the event Dover’s TSR for the Performance Period is negative, the Payout percentage shall not exceed 100%.

Definitions

For purposes of this Award, the terms below have the following meanings:

Beginning Stock Price: The closing price of a share of stock, as reported in transactions on the applicable stock exchange or market, on the trading day immediately prior to the first trading day of the Performance Period.

Change in Stock Price: The Ending Stock Price minus the Beginning Stock Price.

TSR: (Change in Stock Price + Dividends Paid)/Beginning Stock Price

Dividends Paid: The total of all dividends paid on one share of stock during the Performance Period, provided that dividends shall be treated as though they are reinvested on the date the dividend is paid.

Ending Stock Price: The average closing price of a share of stock, as reported in transactions on the applicable stock exchange or market, during the last 30 trading days of the Performance Period.

Peer Group: The companies in the S&P 500 Industrials Sector; provided, that (i) the Peer Group will not include any company that is not publicly traded (i.e., has no ticker symbol) at the end of the Performance Period; (ii) the performance of the surviving entities will be used in the event there is a combination of any of the Peer Group companies during the Performance Period; and (iii) no new companies will be added to the Peer Group during the Performance Period (including a company that is not a Peer Group member which acquires a member of the Peer Group). Notwithstanding the foregoing, the Dover Compensation Committee may disregard any of these guidelines when evaluating changes in the membership of the Peer Group during the Performance Period in any particular situation, as it deems reasonable in the exercise of its discretion.

TSR Ranking: The percentage of companies in the Peer Group that have a lower TSR for the Performance Period than Dover.

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