Document:

Exhibit 10.3

      

     

      

    
      FIRST AMENDMENT TO ERIC S. MCGINNIS OFFER LETTER

      

      

      This FIRST AMENDMENT TO ERIC S. MCGINNIS OFFER LETTER is effective as of August 25, 2021.

       

      WHEREAS, Modine Manufacturing Company, a Wisconsin corporation
          (the “Company”), and Eric S. McGinnis previously entered into that certain Offer Letter dated as of July 16, 2021 (the “Offer Letter”); and

       

      WHEREAS, the Company and Mr. McGinnis desire to amend the Offer Letter to set forth a revised date of grant of certain equity and
        incentive cash awards under the Offer Letter, as approved by the Company’s Human Capital and Compensation Committee.

       

      NOW, THEREFORE, the Offer Letter is hereby amended as follows:

       

      1.           Amendment to Grant Dates in
            Exhibit A of the Offer Letter.  Exhibit A to the Offer Letter shall be amended as follows:

       

      (a)          The phrase
          “upon the commencement of employment” in the first sentence of Exhibit A to the Offer Letter shall be deleted and replaced with “following the commencement of employment.”

       

      (b)          Each
          reference to “upon effective date of employment” or “upon effective day of employment” in Exhibit A to the Offer Letter shall be deleted and replaced with “on August 25, 2021.”

       

      2.          Remainder of Offer Letter in
            Full Force and Effect.  The remaining terms of the Offer Letter, except as specifically amended herein, shall remain in full force and effect.

       

      [Signature page follows]

       

      

      
        
          

      

      
      IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to Eric S. McGinnis Offer Letter to be executed as of the date
        first above written.

       

      	 	
              MODINE MANUFACTURING COMPANY

            
	 	 	 
	 	
              By:

            	
              /s/ Brian J. Agen

            
	 	
              Name:

            	
               Brian J. Agen

            
	 	
              Title:

            	
              Vice President, Human Resources

            
	 	 	 
	 	
              By:

            	
               /s/ Eric S. McGinnis

            
	 	
              Name:

            	
               Eric S. McGinnis

            

      

      

      [Signature page to First Amendment to Eric S. McGinnis Offer Letter]

       

      

       

      

      
        2Exhibit 10.4

    

    

    

    
      MODINE MANUFACTURING COMPANY

      2020 INCENTIVE COMPENSATION PLAN

      NON-EMPLOYEE DIRECTOR

      RESTRICTED STOCK UNIT AWARD

      

      

      We are pleased to inform you that you have been granted a Restricted Stock Unit Award (the “Award”) subject to the terms and conditions of
        the Modine Manufacturing Company 2020 Incentive Compensation Plan (the “Plan”) and of this Award Agreement.  Unless otherwise defined herein, all terms used in this Award Agreement shall have the same meanings as set forth in the Plan.

       

      Full name of Grantee:

      

      

      Date of Award:

      

      

      Total number of

      Restricted Stock Units:

      

      

      1.  Restricted Stock Unit Award.  Pursuant to the Plan and your election pursuant to the Modine Manufacturing Company Non-Employee
        Director Compensation Policy (the “Policy”), you are hereby granted an Award, subject to the terms and conditions of this Award Agreement and the Plan.  Accordingly, you are hereby granted the number of restricted stock units set forth above (the
        “RSUs”), effective as of the date of Award set forth above (the “Grant Date”).  All RSUs granted hereunder shall vest as of the Grant Date.

      

      

      2.  Settlement of RSUs.  The above RSUs shall be settled as of the date you elected in that certain Annual Stock Grant RSU Election
        Form for 2021 that you delivered to the Company in advance of the Grant Date pursuant to the Policy (such date that you elected, the “Settlement Date”), provided you may delay the date the RSUs are settled if you submit a new Settlement Date to
        Modine Manufacturing Company (the “Company”) in accordance with the procedures set forth in the Annual Stock Grant RSU Election Form.

      

      

      3.  Delivery of Shares.  As of the Settlement Date, each RSU awarded to you under this Award Agreement shall be settled by ascribing
        to you (or in the event of your death, your beneficiary) a share of Common Stock in book entry on the records kept by the Company’s transfer agent or such other method of delivering shares of Common Stock subject to this Award Agreement, as
        determined by the Committee.

      

      

      4.  Dividend Equivalents.  If any dividends are paid by the Company on the Company’s Common Stock between the Grant Date and the
        Settlement Date, then on the date of such a dividend payment, you shall be granted an additional number of RSUs equal to the amount of dividends you would have received if your RSUs had been outstanding shares of Common Stock on the date of the
        dividend payment to the Company’s shareholders, divided by the average closing price of a share of Common Stock for the one-month period prior to the dividend payment date.   Such dividend RSUs shall vest on
        the date of such grant, and shall be settled at the same time as all other RSUs are settled under this Award Agreement.

      

      

      
        
          

      

      
      5.  Transfer.  The Award shall not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by you
        other than in the event of your death.  Except for the designation of your beneficiary in the event of your death, the purported assignment, alienation, pledge, attachment, transfer or encumbrance of the Award or this Award Agreement shall be void
        and unenforceable against the Company.  This provision shall not prevent you from transferring the shares of Common Stock issued hereunder upon the Settlement Date.

      

      

      6.  No Obligation of Service.  The Award shall not impose any obligation on the Company to continue your service with the Company.

      

      

      7.  Provisions of the Plan Control.  The Award is qualified in its entirety by reference to the terms and conditions of the Plan
        under which it is granted, a copy of which you may request from the Company.  The Plan empowers the Committee to make interpretations, rules and regulations thereunder and, in general, provides that the determinations of such Committee with respect
        to the Plan shall be binding upon you.  The Plan is incorporated herein by reference.

      

      

      8.  Forfeiture Under Recoupment Policy.  The Company shall have the power and the right to require you to forfeit and return the
        shares of Common Stock issued as a result of the settlement of the Award or any proceeds therefrom consistent with any recoupment policy maintained by the Company under applicable law, as such policy is amended from time to time.

      

      

      9.  Use of Words.  The use of words of the masculine gender in this Award Agreement is intended to include, wherever appropriate, the
        feminine or neuter gender and vice versa.

      

      

      10.  Successors.  This Award Agreement shall be binding upon and inure to the benefit of any successor or successors of the Company.

      

      

      11.  Taxes.  The Company may require payment of or withhold any minimum tax which it believes it is required to withhold, if any, as
        a result of the Award, and the Company may defer making delivery with respect to shares issuable hereunder until arrangements satisfactory to the Company have been made with respect to such tax withholding obligations.

      

      

      12.  No Legal or Tax Advice.  Notwithstanding anything stated in this Award Agreement, the Company is not providing any legal or tax
        advice related to the Award or any Common Stock that may be obtained upon settlement of the Award. Nothing stated in this Award Agreement is intended to cover any legal or tax situation. You are encouraged to consult your own legal and/or tax
        advisors to address any questions or concerns you may have regarding the Award or any Common Stock that may be obtained upon settlement of the Award.

      

      

      13.  Personal Information.  Solium Capital LLC and Equiniti Trust Company assist the Company in the operation of the Plan and the
        administration of the Award granted pursuant to this Award Agreement.  If you choose to participate in the Plan, you acknowledge and consent to the Company sharing your name, email, and information regarding the grant of the Award under this Award
        Agreement with both Solium Capital LLC and Equiniti Trust Company.

      

      

      SIGNATURES ON THE FOLLOWING PAGE

      

      

      
        2

        
          

      

      By your signature and the signature of the Company’s representative below, you and the Company agree that the RSUs awarded to you under this
        Award Agreement are subject to the terms and conditions of the Plan, a copy of which is available to you upon request.  As provided in the Plan, you hereby agree to accept as binding any decision of the Committee with respect to the interpretation
        of the Plan and this Award Agreement, or any other matters associated therewith.

      

      

      IN WITNESS WHEREOF, the Company has caused these presents to be executed as of ___________, 2021.

      

      

      	 	
              MODINE MANUFACTURING COMPANY

            
	 	 	 
	 	
              By:

            	
              /s/ Neil D. Brinker

            
	 	 	
              Neil D. Brinker

            
	 	 	
              President and Chief Executive Officer

            

      

      

      The undersigned hereby accepts the foregoing Restricted Stock Unit Award and agrees to the terms and conditions of this Award Agreement and
        of the Plan.

      

      

      	 	 

      

      

      

      

      
        3

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