Document:

Exhibit 10.4

    

     

    

    
      MODINE MANUFACTURING COMPANY

      2020 INCENTIVE COMPENSATION PLAN

      RESTRICTED STOCK UNIT AWARD

      AWARD AGREEMENT

      

      

      We are pleased to inform you that you have been granted a Restricted Stock Unit 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, you are hereby granted a Restricted Stock Unit Award (“Award”), subject to the terms and conditions of this Award Agreement and the Plan.  Accordingly,
        you are hereby granted the aggregate number of Restricted Stock Units (“RSUs”) set forth above, subject to the restrictions and conditions set forth in this Award Agreement.

      

      

      2.  Restricted Period.  Upon the expiration of the Restricted Period (as described in the chart below) applicable to the number of RSUs specified in the chart below, you shall receive one share of Common Stock
        for each RSU for which the Restricted Period has expired.  For purposes of this Award Agreement, the Restricted Period shall mean the period beginning on the date of this Award set forth above and ending as set forth below:

       

      
        	 	 
	
                Number of RSUs that Vest

              	
                Restricted Period Expiration

              
	 	 
	 	 
	
                33% of the total number of RSUs

              	 
	 	 
	 	 
	
                33% of the total number of RSUs

              	 
	 	 
	 	 
	
                34% of the total number of RSUs

              	 
	 	 

      

      

      

      Except as otherwise provided in Section 8.02(f) or Section 11.02 of the Plan, in the event of your termination of employment with the Company or a Subsidiary for any reason (other than due to Disability (as defined below), death, or (with
        Committee approval) your retirement) prior to the expiration of the Restricted Period for any RSUs, you shall forfeit to the Company all RSUs for which the Restricted Period has not expired and the right to receive any Common Stock with respect to
        such RSUs.  If you separate from service with the Company or a Subsidiary due to Disability, death, or (with Committee approval) your retirement prior to the end of the Restricted Period for any RSUs, your Restricted Stock Unit Award shall vest in
        full.  For purposes of this Award Agreement, “Disability” shall mean “permanent and total disability” as defined in Section 22 (e)(3) of the Code.

      

      

      3.  Shareholder Status.  You shall not have any voting or other ownership rights in the Company arising from the grant of RSUs under this Agreement, unless and until such RSUs are settled pursuant to Section 4,
        below.  Further, you shall not be entitled to dividend equivalents during the period you hold RSUs.

       

      
        
          

      

      
      4.  Settlement and Delivery.  As soon as administratively practicable after the expiration of the Restricted Period, the Company shall ascribe to you (or, in the event of your death, your beneficiary) a share
        of Common Stock for each RSU that vests as a result of the expiration of the Restricted Period in a 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, as
        determined by the Committee.

       

      5.  Transfer.  This Restricted Stock Unit 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 after the expiration of the Restricted Period.

      

      

      6.    No Obligation of Employment.  This Restricted Stock Unit Award shall not impose any obligation on the Company to continue your employment with the Company or any Subsidiary.

      

      

      7.    Controlling Provisions; Plan Controls. In the event of a conflict between the terms of this Award Agreement and any employment agreement or change in control agreement between you and the Company,
        this Award Agreement shall control.   This Award Agreement 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.    Change in Control.  The vesting of the Award in the event of a Change in Control is governed by Section 11.02 of the Plan.  Involuntary termination of your employment by the Company would be termination
        of your employment by the Company without Cause or termination by you of your employment for Good Reason.  “Good Reason” means a material diminution in your base salary; material diminution in your annual target bonus opportunity; material
        diminution in your authority, duties or responsibilities; material diminution in authority, duties or responsibilities of the supervisor to whom you report; material diminution in the budget over which you retain authority; or material change in
        the geographic location at which you must perform services.

       

      

      9.    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 vesting of any 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.

      

      

      10.  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.

      

      

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

      

      

      12.  Taxes.  The Company may require payment of or withhold any tax which it believes is required as a result of the Award and/or the issuance of Common Stock resulting from the vesting of the RSUs that are the
        subject of this 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.

      
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      13.  No Legal or Tax Advice.  Notwithstanding anything stated in this Award Agreement, the Company is not providing any legal or tax advice related to this Award or any Common Stock that may be obtained upon
        vesting of this Award. Nothing stated in this Award 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 this Award or any
        Common Stock that may be obtained upon vesting of this Award.

      

      

      14.  Personal Information.  Solium Capital LLC and Equiniti Trust Company assist the Company in the operation of the Plan and the administration of the Restricted Stock Unit 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 Restricted Stock Unit Award under this Award Agreement with both Solium Capital
        LLC and Equiniti Trust Company.

      

      

      By your electronic agreement and the signature of the Company’s representative below, you and the Company agree that the Restricted Stock Unit Award 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 this Award Agreement to be executed as of ____________, 2022.

      

      

      	 	
              MODINE MANUFACTURING COMPANY

            
	 	 	 
	 	
              By:

            	
              /s/Neil D. Brinker

            
	 	 	
              Neil D. Brinker

            
	 	 	
              President and Chief Executive Officer

            

      
         

          

         

          

        3Exhibit 10.6

    

    

      MODINE MANUFACTURING COMPANY

      2020 INCENTIVE COMPENSATION PLAN

      NON-EMPLOYEE DIRECTOR

      DEFERRED 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 that certain Annual Stock Grant RSU Election Form (the “Election Form”) that you delivered to the Company during the
        calendar year prior to the date of this Award, 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 one-year anniversary of the Grant Date regardless of whether you have a separation from service with the Company for any
        reason prior to such anniversary date.

      

      

      2.   Settlement and Delivery.  The above RSUs shall be settled as of the date you elected in the Election Form (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.

      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.  You shall not have any voting or other ownership rights in the Company arising from the grant of RSUs under
        this Award Agreement, unless and until such RSUs are settled pursuant to the terms hereof. For the avoidance of doubt, to the extent the Settlement Date occurs prior to the vesting of the Award as a result of a “Termination of Service” (as defined
        in the Election Form), such shares will be delivered to you within thirty (30) days of such Termination of Service.

      

      

      3.    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 be settled at the same time as all other RSUs are settled under this Award Agreement.

      

      

      
        
          

      

      4.    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 any shares of Common Stock issued hereunder following the issuance of such shares in settlement of this Award.

      

      

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

      

      

      6.    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.

      

      

      7.    Forfeiture Under Recoupment Policy.  The Company shall have the power and the right to require you to forfeit and return any shares of Common Stock issued pursuant to this 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.

      

      

      8.    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.

      

      

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

      

      

      10.  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.

      

      

      11.  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.

      

      

      12.  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

      

      

      
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      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 __________, 2022.

       

      

      	 	
              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.

       

      

      
        	
                 

              	
                 

              

      

       

      

       

      

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