Document:

Exhibit

Exhibit 10.9.3
AMENDMENT NO. 3 TO
 1998 STOCK OPTION AND INCENTIVE PLAN
     The Trinity Industries, Inc. 1998 Stock Option and Incentive Plan (the “1998 Plan”) is hereby amended as follows:

	
			
	1.
	 
	The first sentence in Section 2 of the Plan is amended to read in its entirety as follows:

“A committee designated by the Board of Directors which shall consist of not less than two members of the Board who shall be appointed by or in accordance with authority delegated by the Board,”

	
			
	2.
	 
	The effective date of this Amendment to the 1998 Plan shall be May 3, 2002.

     IN WITNESS WHEREOF, the Company has caused this Amendment to be executed by a duly authorized officer of the Company as of May 3, 2002.
	
					
	 
	 
	 
	 
	 

	 
	 
	TRINITY INDUSTRIES, INC.

	 
	 
	 
	 
	 

	 
	 
	By:
	 
	/s/ Michael G. FortadoExhibit

Exhibit 10.9.4
AMENDMENT NO. 4
 TO
 TRINITY INDUSTRIES, INC.
 1998 STOCK OPTION AND INCENTIVE PLAN
     WHEREAS, TRINITY INDUSTRIES, INC. (the “Company”) adopted the TRINITY INDUSTRIES, INC. 1998 STOCK OPTION AND INCENTIVE PLAN (the “Plan”); and
     WHEREAS, pursuant to Section 22 of the Plan, the Board reserved the right to amend any provision of the Plan; and
     WHEREAS, the Board has determined that it is appropriate to amend Section 25 of the Plan to allow greater flexibility for Participants who are subject to tax withholding obligations related to Awards under the Plan;
     NOW, THEREFORE, the Plan is amended as follows:
I.
     Section 25 of the Plan is amended by adding a new paragraph (c) and (d) to read as follows:
     “(c) With respect to any Award, other than a Stock Option award, unless the Committee shall otherwise determine, the recipient of the Award may elect to provide for withholding of federal, state and local taxes and federal payroll taxes at a rate up to the maximum marginal rate for such taxes, in addition to withholding for such taxes required under Section 25(a) above. Any such additional tax withheld at the election of the recipient shall be satisfied either (a) by payment by the recipient to the Company of an amount of such withholding obligation in cash; (b) in the case of cash Awards, through retention by the Company of cash equal to the amount of the additional withholding requested; or (c) in the case of Awards deliverable in Shares, through retention by the Company of a number of Shares having a Fair Market Value equal to the amount of the additional withholding requested. The cash payment or amount equal to the Fair Market Value of the Shares so withheld, as the case may be, shall be remitted by the Company to the appropriate taxing authorities. The Committee may determine from time to time the time and manner in which the recipient may elect to satisfy such additional withholding requested by either the Cash Method or the Share Retention Method.”
     “(d) With respect to Stock Option awards, unless the Committee shall otherwise determine, the Participant may elect to provide for withholding of federal, state and local taxes and federal payroll taxes beyond the withholding for such taxes as required under Section 25(a) above up to the maximum marginal rate for such taxes. Any such additional tax withheld shall be satisfied, at the
 

 

election of the recipient of the Stock Option award, either (a) by payment by the recipient to the Company of an amount of such withholding in cash or (b) through delivery to the Company of a number of Shares that have been owned for at least six months having a Fair Market Value equal to the amount of the additional withholding requested. The cash payment or amount equal to the Fair Market Value of the Shares so withheld, as the case may be, shall be remitted by the Company to the appropriate taxing authorities. The Committee may determine from time to time the time and manner in which the recipient may elect to satisfy any such additional withholding by the delivery of either cash or shares. Notwithstanding the foregoing, in the event a recipient of a Stock Option award elects to provide for additional withholding, as described above, and the Committee determines, in its sole discretion, that such additional withholding would result in (i) a modification of the recipient’s Stock Option award and (ii) a violation of Section 409A of the Code, and as a result, such Stock Option award would be subject to the taxes described in Section 409A(a)(1) of the Code, no additional withholding shall be permitted with respect to such Stock Option award.
II.
     In all other respects, the terms of the Plan are ratified and confirmed.
     Executed this                                         day of                                        , 2005.
	
					
	 
	 
	 
	 
	 

	 
	 
	TRINITY INDUSTRIES, INC.

	 
	 
	 
	 
	 

	 
	 
	By:
	 
	 

	 
	 
	 
	 
	 

	 
	 
	Name:
	 
	 

	 
	 
	 
	 
	 

	 
	 
	Title:Exhibit

Exhibit 10.10.6 
TRINITY INDUSTRIES, INC.
PERFORMANCE RESTRICTED STOCK UNIT
GRANT AGREEMENT
PERFORMANCE PERIOD __________ 
THIS PERFORMANCE RESTRICTED STOCK UNIT GRANT AGREEMENT (the “Agreement”), is made by and between TRINITY INDUSTRIES, INC. (hereinafter called the “Company”) and __________________ (hereinafter called the “Grantee”), is made as of the ____ day of _____, 20___ (the “Date of Grant”); the Performance Period for this award is the ______-year period from ____________ through ________________. 
WITNESSETH: 
WHEREAS, the Grantee complies with the requirements of eligibility for the award of performance-based restricted stock units under the Amended and Restated Trinity Industries, Inc. 2004 Stock Option and Incentive Plan (the “Plan”); and 
WHEREAS, the Company has determined to grant to the Grantee a target award of ______________ Restricted Stock Units, denominated in Common Stock of the Company, so that one unit is valued as one Common Share, subject to the terms and conditions hereinafter set forth, as a performance incentive affording the Grantee an opportunity to obtain an increased proprietary interest in the Company thereby promoting a closer nexus between the Grantee’s interest and the interests of the Company, and to stimulate Grantee’s enthusiastic participation in the development, growth, performance, and financial success 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 Performance-Based Restricted Stock Units. 
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 Restricted Stock Units set forth above as a target award (the “Target Performance Units”); provided that the actual number of Restricted Stock Units that may be earned under this Agreement will be between zero (0) and _______% of the Target Performance Units, based upon the achievement of the goals and objectives during the Performance Period, as set forth on the attached Appendix (such actual number of Restricted Stock Units earned referred to herein as “Earned Performance Units”). Each Earned Performance Unit shall be converted into one share of Common Stock of the Company, in accordance with and subject to the terms and conditions of the Plan and this Agreement. 
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2. Stockholder Status. 
The Grantee will have no rights as a stockholder with respect to any units covered by this Agreement until shares are delivered to the Grantee. The Restricted Stock Units awarded under this Agreement shall be subject to the terms and conditions of this Agreement and the Plan. The Grantee, by his or her execution of this Agreement, agrees to execute any documents requested by the Company in connection with the delivery of the Target Performance Units, Earned Performance Units, and shares of Common Stock based on conversion of Earned Performance Units. 
3. Vesting, Timing of Delivery of Shares of Common Stock

Subject to special vesting and forfeiture rules in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Restricted Stock Units shall become vested (i.e., become Earned Performance Units) effective as of ____________, upon certification by the Human Resources Committee of the Board of Directors (the “Committee”) of the achievement of the requirements/targets set forth on the Appendix attached to this Agreement as of the end of the Performance Period, which Appendix is by this reference made a part hereof. 
In addition, the following special rules shall apply: 
	
			
	(i)
	 
	In the event of the death or Disability (as defined in the Plan) of the Grantee prior to the ________ anniversary of the date of this Agreement, the performance goals set forth on the attached Appendix shall be assumed to have been met at the target level on the date of such death or Disability, and the Grantee (or the Grantee’s personal representative) shall be vested in Earned Performance Units on such date equal to the Target Performance Units multiplied by a fraction, the numerator of which is the number of days from the Date of Grant to the date of death or Disability, and the denominator of which is the number of days in the full Performance Period;

	 
	 
	 

	(ii)
	 
	In the event a Change in Control (as defined in the Plan) occurs, the level of performance of the performance goals set forth on the attached Appendix shall be assumed to have been met at the target level on the date of such Change in Control, and the Grantee (or the Grantee’s personal representative) shall be vested in Earned Performance Units on such date equal to the Target Performance Units;

	 
	 
	 

	(iii)
	 
	Subject to item (iv) below, in the event the Grantee’s employment terminates due to termination without cause or Retirement (as defined in the Plan) prior to the ________ anniversary of the date of this Agreement, the Grant of Target Performance Units shall not be immediately forfeited and Grantee shall be vested in Earned Performance Units based on the level of achievement of the performance goals set forth on the attached

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	Appendix at the end of the Performance Period as determined by the Committee, multiplied by a fraction, the numerator of which is the number of days from the Date of Grant to the date of termination without cause or Retirement, as applicable, and the denominator of which is the number of days in the full Performance Period; or

	(iv)
	 
	If, prior to the _________ anniversary date of this Agreement, Grantee’s employment terminates due to termination without cause or Retirement and Grantee is at such time serving as a director, officer, employee, owner, partner, advisor, agent, or consultant for (a) any business or entity that competes, directly or indirectly, with the Company or its affiliated entities; or (b) any business or entity that is a supplier or customer of the Company or its affiliated entities, any Target Performance Units (and any Earned Performance Units), as well as any shares of Common Stock payable with respect thereto, will be subject to forfeiture at the discretion of the Committee.

Restricted Stock Units that are not vested in accordance with this Section 3 shall be forfeited on the earlier of the date of the Grantee’s termination of employment, death, Disability, Change in Control of the Company or the expiration of the Performance Period. Upon forfeiture, all of the Participant’s rights with respect to the forfeited Restricted Stock Units shall cease and terminate, without any further obligations on the part of the Company. The Restricted Stock Units awarded hereunder shall be forfeited if the Grantee fails to comply with paragraph 7 hereof. The Target Performance Units (and any Earned Performance Units) may also be forfeited in order to satisfy amounts recoverable by the Company that the Committee determines pursuant to the Policy for Repayment on Restatement of Financial Statements as may be in effect at the time of the determination, which Policy is incorporated herein by reference. 
Subject to the provisions of the Plan and this Agreement, upon the vesting of Restricted Stock Units in accordance with this Section 3, or as soon as practicable following such vesting, and in no event later than sixty (60) days after vesting of Restricted Stock Units, the Company shall convert the Earned Performance Units into the number of whole shares of Common Stock equal to the number of Earned Performance Units and shall deliver such shares to the Grantee or the Grantee’s personal representative, provided that the Grantee or Grantee’s personal representative has made appropriate arrangements with the Company in accordance with Section 27 of the Plan for applicable taxes which are required to be withheld under federal, state or local law or the tax withholding requirement has otherwise been satisfied. From and after the date of receipt of such shares, the Grantee or the Grantee’s estate, personal representative or beneficiary, as the case may be, shall have full rights of transfer or resale with respect to such stock subject to applicable state and federal regulations. 
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 
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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 Committee, 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. 
Each payment under this Agreement is intended to be exempt from Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”) or in compliance with Section 409A, including, but not limited to, being paid pursuant to a fixed schedule or specified date pursuant to Treas. Reg. § 1.409A-3(a) and the provisions of this Agreement will be administered, interpreted and construed accordingly. Without limiting the generality of the foregoing, the term “termination of employment” or any similar term under the Agreement will be interpreted to mean “separation from service” within the meaning of Section 409A to the extent necessary to comply with Section 409A. 
6. Subject to Plan. 
The Target Performance Units (and any Earned Performance Units) 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. Capitalized terms used herein, if not defined herein, shall be as defined in the Plan. 
7. Confidentiality. 
This Performance Restricted Stock Unit Grant is to be treated as STRICTLY CONFIDENTIAL. A Grantee who shares information regarding this Performance Restricted Stock Unit 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 Committee that the Grantee has violated this paragraph. 
8. Acceptance. 
The grant of the Restricted Stock Units under this Agreement is subject to and conditioned upon Grantee’s acceptance of the terms hereof by the return of an executed copy of this Agreement to the Company. 
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DATED as of the _______ day of _____, 20__. 
	
					
	 
	 
	 
	 
	 

	 
	TRINITY INDUSTRIES, INC.
 
	 

	 
	By:  
	 
	 

	 
	 
	Name:  
	 
	 

	 
	 
	Title:  
	 
	 

	 

	 
	GRANTEE
 
	 

	 
	  
	 
	 

	 
	 
	NAME: 
	 

	 
	 
	ID: 
	 

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APPENDIX 
PERFORMANCE GOALS AND METRICS 
Performance Period: _____________________ 
[Metrics] 
Note: Payout percentage will be interpolated for performance between Threshold and Target, and for performance between Target and Maximum. 
For the avoidance of doubt, there will be no payout and no Earned Performance Units if the Threshold performance level set forth above is not reached.

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