Document:

exv10w11w3

 

EXHIBIT 10.11.3

TRINITY INDUSTRIES, INC.

RESTRICTED STOCK GRANT AGREEMENT

THIS RESTRICTED STOCK GRANT AGREEMENT (the “Agreement”), by and between TRINITY INDUSTRIES,
INC. (hereinafter called the “Company”) and ___(hereinafter called the “Grantee”);

WITNESSETH:

WHEREAS, the Grantee complies with the requirements of eligibility for the award of Restricted
stock under the Trinity Industries, Inc. 2004 Stock Option and Incentive Plan (the “Plan”); and

WHEREAS, the Company has determined to award to the Grantee ___(___) shares of
Common Stock of the Company, subject to the terms and conditions hereinafter set forth, as a
retention incentive, to encourage a sense of proprietorship by the Grantee and to stimulate the
active interest of the Grantee in promoting the development, growth, performance and financial
success of the Company by affording the Grantee an opportunity to obtain an increased proprietary
interest in the Company so as to assure a closer identification between the Grantee’s interest and
the interest of the Company;

NOW, THEREFORE, in consideration of the premises and the covenants and agreements herein contained,
the parties hereto agree as follows:

1. Grant of Restricted Shares.

Subject to the terms and conditions of the Plan, this Agreement and the restrictions set forth
below, the Company hereby grants to the Grantee the total number of shares of common stock of the
Company set forth above (the “Restricted Shares”).

2. Shareholder Status.

Effective upon the date of grant, Grantee has become the holder of record of the Restricted Shares
and has all rights of a stockholder with respect to the Restricted Shares, including the right to
vote the Restricted Shares and the right to receive all dividends paid with respect to the
Restricted Shares, subject to the terms and conditions set forth in this Agreement.

 

 

3. Restrictions.

The Restricted Shares may not be sold, assigned, transferred, pledged or otherwise disposed of or
encumbered (the “Restrictions on Transferability”) until the Restrictions on Transferability shall
lapse. The Restrictions on Transferability shall lapse upon the first to occur of the following:

	 	(i)  	4 years from grant for 33 1/3% of the Restricted Shares;
	 
	 	(ii)  	6 years from grant for 33 1/3% of the Restricted Shares;
	 
	 	(iii)  	8 years from grant for 33 1/3% of the Restricted Shares;
	 
	 	(iv)  	Retirement as defined in the Plan;
	 
	 	(v)  	death;
	 
	 	(vi)  	Disability as defined in the Plan;
	 
	 	(vii)  	a Change in Control as defined in the Plan; or
	 
	 	(viii)  	the consent, at any time after three years from the date of this grant, to the
removal of the restrictions by the Human Resources Committee in its sole discretion.

All of the Restricted Shares shall be forfeited by the Grantee to the Company if prior to the lapse
of the Restrictions on Transferability the Grantee’s employment with the Company terminates for any
reason other than death, disability or retirement under the Trinity Standard Pension Plan or as
provided by paragraph 7 hereof. Upon forfeiture, the Company shall have all right, title and
interest in the Restricted Shares and the Grantee shall have no further right, title or interest
therein. Until the Restrictions on Transferability shall lapse, the certificates representing the
Restricted Shares shall bear a legend giving notice of such restrictions as follows:

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE RESTRICTED PURSUANT TO A
RESTRICTED STOCK GRANT AGREEMENT DATED AS OF ___, 2004, AND MAY
NOT BE SOLD, ASSIGNED, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF OR
ENCUMBERED AT ANYTIME WITHOUT THE PRIOR WRITTEN APPROVAL OF THE COMPANY.

Upon the lapse of the Restrictions on Transferability with respect to any of the Restricted Shares,
a certificate representing such shares and without the restrictive legend noted above shall be
delivered to Grantee or Grantee’s personal representative, provided that the Grantee or Grantee’s
personal representative has made appropriate arrangements with the Company for applicable taxes
which are required to be withheld under federal, state or local law or the tax withholding
requirement has otherwise been satisfied. The Grantee may elect, in accordance with Company policy
in effect at the time, to pay in shares of Common Stock of the Company a portion or all of the
amount of the federal, state or local, income or other taxes required by law to be withheld in

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connection with the lapse of Restrictions on Transferability. To make such election the Grantee
shall authorize the Company to withhold, on or about the date such withholding tax liability is
determinable, a portion of the shares that were or otherwise would be distributed to the Grantee
upon the lapse of Restrictions on Transferability having a fair market value equal to the amount of
such required withholding taxes that the Grantee elects to pay in shares.

4. No Rights of Continued Service.

Nothing herein shall confer upon Grantee any right to remain an officer or employee of the Company
or one of its Subsidiaries, and nothing herein shall be construed in any manner to interfere in any
way with the right of the Company or its Subsidiaries to terminate the Grantee’s service at any
time.

5. Interpretation of this Agreement.

The administration of the Company’s Plan has been vested in the Plan Committee of the Board of
Directors, and all questions of interpretation and application of this grant shall be subject to
determination by a majority of the members of the Committee, which determination shall be final and
binding on Grantee.

6. Subject to Plan.

The Restricted Shares are granted subject to the terms and provisions of the Plan of the Company,
which plan is incorporated herein by reference. In case of any conflict between this Agreement and
the Plan, the terms and provisions of the Plan shall be controlling.

7. Confidentiality

This Restricted Stock Grant is to be treated as STRICTLY CONFIDENTIAL. A Grantee who shares
information regarding this Restricted Stock Grant with other employees or outside persons, other
than as required to comply with applicable laws or as necessary to manage his or her personal
finances, is subject to his or her rights hereunder being forfeited upon a determination by the
Human Resources Committee that the Grantee has violated this paragraph.

8. Acceptance and Stock Power.

The grant of the Restricted Shares under this Agreement is subject to and conditioned upon:
(i) Grantee’s acceptance of the terms hereof by the return of an executed copy of this Agreement to
the Company and (ii) delivery of an executed stock power in the attached form.

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DATED as of the
___day of September, 2004.

	 	 	 
	

	 	TRINITY INDUSTRIES, INC.
	 
	 	 
	

	 	

	

	 	NAME:
	

	 	TITLE:
	 
	 	 
	

	 	GRANTEE
	 
	 	 
	

	 	

	

	 	NAME:

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IRREVOCABLE STOCK POWER

FOR VALUE RECEIVED, the undersigned does hereby sell, assign and transfer, to Trinity Industries,
Inc., ___(___) shares of the common stock of Trinity Industries, Inc. awarded to
the undersigned and for which restrictions have not lapsed pursuant to a Restricted Stock Grant
Agreement dated as of September 8, 2004 represented by certificate No(s). ___for ___
shares standing in the name of the undersigned on the books of said Company.

	 	 	 
	

	 	

	DATE

	 	NAMEexv10w11w4

 

EXHIBIT 10.11.4

TRINITY INDUSTRIES, INC.

NONQUALIFIED STOCK OPTION AGREEMENT

NON-EMPLOYEE DIRECTORS

     THIS AGREEMENT, by and between Trinity Industries, Inc. (hereinafter called the “Company”) and
Optionee (hereinafter called the “Optionee”);

W I T N E S S E T H:

     WHEREAS, the Optionee is a non-employee director of the Company in a capacity which complies
with the requirements of eligibility of the Company’s 2004 Stock Option and Incentive Plan, and the
Company desires that the Optionee remain a non-employee director of the Company; and

     WHEREAS, the Company has determined to grant to the Optionee an option to encourage the
Optionee to remain a non-employee director of the Company and to afford the Optionee an opportunity
to obtain an increased proprietary interest in the Company so as to assure a closer identification
between the Optionee’s interest and the interest of the Company;

     NOW, THEREFORE, in consideration of the premises and the covenants and agreements herein
contained, the parties hereto agree as follows:

     l. Grant of Option. Subject to the terms and conditions of the Trinity Industries,
Inc. 2004 Stock Option and Incentive Plan (the “Plan”), the Company hereby grants to the Optionee
the option to purchase from the Company the $1.00 par value Common Stock of the Company over a
period of time. The price per share (the “Exercise Price”), the total number of shares subject to
the option (the “Optioned Shares”), and the periods of time during which such Optioned Shares may
be purchased are as set forth in Exhibit A attached hereto and made a part hereof.

     The options granted hereunder are not intended to constitute incentive stock options
within the meaning of Section 422A of the Internal Revenue Code of 1986, as amended from time to
time.

     2. Manner of Exercising Option. The option granted herein shall be exercised by the
Optionee only in the State of Texas at the principal office of the Company by:

(a) Delivering to the Controller of the Company a written notice specifying the
number of Optioned Shares the Optionee then desires to purchase, which written
notice shall be in substantially the following form and shall be signed by the
Optionee:

 

 

“To Trinity Industries, Inc.:

I hereby exercise my option to purchase from Trinity Industries, Inc. (the
“Company”) at Dallas, Texas ___shares of its Common Stock in
accordance with the Company’s 2004 Stock Option and Incentive Plan and in
accordance with my Non-Qualified Stock Option Agreement dated [the date of
this Agreement] and hereby tender in payment therefore cash and/or stock in
the amount of, and/or with an aggregate value equal to $___, being
$___ per share.

	 	 	 
	

	 	

	

	 	“(Name of Optionee)”
	

	 	“(Date)”

(b) Tendering the full exercise price of such Optioned Shares either: (1) in cash
(including check, bank draft, or money order); or (2) by the delivery of shares of
Common Stock of the Company already owned by the Optionee; or (3) tendering shares
of Common Stock of the Company owned by the Optionee by delivery of a completed and
signed Trinity Industries, Inc. “Stock Option Exercise Attestation Form”; (4) by
providing herewith an order for a designated broker to sell part or all of the
Optioned Shares and deliver sufficient proceeds to the Company to pay the full
exercise price of the Optioned Shares; or (5) by a combination of items b(1), b(2),
b(3) or b(4) above .

(c) Tendering the amount of any federal, state, or local tax required to be withheld
by the Company due to the exercise of an option granted hereunder which shall be
satisfied, at the election of the Optionee but subject to change by the Human
Resources Committee, (the “Committee”), either (a) by payment by the Optionee to the
Company of the amount of such withholding obligation in cash (the “Cash Method”), or
(b) through the retention by the Company of a number of shares of Common Stock out
of the Shares being purchased through the exercise of the option having a fair
market value equal to the amount of the minimum withholding obligation (the “Share
Retention Method”).

          Shares of Common Stock of the Company delivered or tendered to exercise the option must be
held for at least six months prior to the date of exercise of the option if the shares were
acquired by previous exercise of a stock option. Shares acquired by methods other than exercise of
a stock option (e.g. open market purchase, gift, etc.) do not have the six month holding
requirement.

          As soon as practicable after such exercise of the option in whole or in part by the Optionee,
the Company will deliver to the Optionee at the Company’s principal office in the State of Texas a
certificate or certificates for the number of shares with respect to which the option shall be so
exercised minus the number of shares to be withheld, if any, issued in the Optionee’s

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name. Each purchase of stock hereunder shall be a separate and divisible transaction and a
complete contract in and of itself.

     3. Compliance with Securities and Other Laws. The Company shall not be required to
sell or issue shares of Common Stock under option if the issuance thereof would constitute a
violation by either the Optionee or the Company of any provision of any law or regulation of any
governmental authority or any national securities exchange. As a condition of any sale or issuance
of the shares of Common Stock under option, the Company may place legends on shares, issue stop
transfer orders and require such agreements or undertakings from the Optionee as the Company may
deem necessary or advisable to assure compliance with any such law or regulation, including, if the
Company or its counsel deems it appropriate, representations from the Optionee that the Optionee is
acquiring the shares of Common Stock solely for investment and not with a view to distribution and
that no distribution of such shares acquired by the Optionee will be made unless registered
pursuant to applicable federal and state securities laws, or in the opinion of counsel of the
Company, such registration is unnecessary.

     4. Early Termination of Option. Unless otherwise extended by the Board, in the event
that the Optionee ceases to be a director of the Company, then this option shall continue with
respect to those shares which the Optionee had not purchased, under the terms hereof, at the date
of such cessation of service for thirty-six (36) months; except in case the Optionee shall die
while a director or within thirty-six (36) months after termination, the personal representatives,
heirs, legatees, or distributes of the Optionee, as appropriate, shall have the right up to twelve
(12) months from the date of death to exercise any such option to the extent that the option was
exercisable prior to death and had not been so exercised. Provided however, no option shall be
exercisable under any condition after the dates specified in Section 1.

     5. Nontransferability of Option. Except as provided in the 2004 Plan, this option

shall not be transferable otherwise than by will or the laws of descent and distribution, and this
option may be exercised, during the lifetime of the Optionee, only by the Optionee. Any attempted
assignment, transfer, pledge, hypothecation, or other disposition of this option contrary to the
provisions hereof, or the levy of any execution, attachment, or similar process upon this option
shall be null and void and without effect.

     6. Adjustments upon Changes in Capitalization. The Committee may make adjustments in
the number of shares subject to option for any subdivision or consolidation of shares of Common
Stock of the Company as provided in the 2004 Plan.

     Except as expressly provided in the 2004 Plan and in Section 7, Optionee shall have no rights
by reason of any subdivision or consolidation of stock of any class or the payment of any stock
dividend or any other increase or decrease in the number of shares of stock of any class or by
reason of any dissolution, liquidation, reorganization, merger, or consolidation, or spin-off of
assets or stock of another corporation, and any issue by the Company of shares of stock of any
class, or securities convertible into shares of stock of any class, shall not affect, and no
adjustment by reason thereof shall be made with respect to, the number of Optioned Shares or the
Exercise Price.

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     The granting of this option shall not affect in any way the right or power of the Company to
make adjustments, reclassifications, reorganizations, or changes of its capital or business
structure or to merge or to consolidate or to dissolve, liquidate, or sell, or transfer all or any
part of its business or assets.

     7. No Rights of a Stockholder or of Continued Employment. Optionee shall not have any
of the rights of a stockholder of the Company with respect to the Optioned Shares except to the
extent that one or more certificates for Optioned Shares shall have been delivered to Optionee, or
Optionee has been determined to be a stockholder of record by the Company’s Transfer Agent, upon
due exercise of the option. Further, nothing herein shall confer upon Optionee any right to remain
in the employ or continue as a director of the Company or one of its Affiliates, and nothing herein
shall be construed in any manner to interfere in any way with the right of the Company or its
Affiliates to terminate the Optionee’s employment or directorship at any time.

     8. Substitution for Stock Appreciation Rights. As provided in the 2004 Plan, the
Committee, at any time when the Company is subject to fair value accounting for equity-based
compensation granted to its employees and/or directors, shall have the right to substitute Stock
Appreciation Rights for outstanding Options granted to Optionee, provided the substituted Stock
Appreciation Rights call for settlement by the issuance of Shares, and the terms and conditions of
the substituted Stock Appreciation Rights are equivalent to the terms and conditions of the Options
being replaced, as determined by the Committee.

     9. Interpretation of this Agreement. The administration of the Company’s 2004 Plan
has been vested in the Committee, and all questions of interpretation and application of this
option shall be subject to the determination by a majority of such Committee members, which
determination shall be final and binding on Optionee.

     10. Option Subject to Stock Option Plan. This option is granted subject to the terms,
conditions and provisions of the 2004 Plan, which 2004 Plan is incorporated herein by reference.
In case of any conflict between this Agreement and the 2004 Plan, the terms, conditions and
provisions of the 2004 Plan shall be controlling.

     EXECUTED as of ___, ___.

	 	 	 	 	 
	

	 	 	 	Trinity Industries, Inc.
	 
	 	 	 	 
	

	 	By:
	 	

	 	 	 
	

	 	Optionee:
	 
	 	 
	

	 	

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Exhibit A

TRINITY INDUSTRIES, INC.

Nonqualified Stock Option Agreement

Dated

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