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EXHIBIT 10.4

                                        
HNI Corporation 2021 Stock-Based Compensation Plan:
Performance Share Unit Award Agreement

Congratulations on your selection as a Participant who will receive Performance Share Units under the HNI Corporation 2021 Stock-Based Compensation Plan (the “Plan”).  This Award Agreement provides a brief summary of your rights under the Plan.  Capitalized terms found but not defined in this Award Agreement are defined in the Plan.

The Plan provides complete details of all of your rights under the Plan and this Award Agreement, as well as all of the conditions and limitations affecting your rights.  If there is any inconsistency between the terms of this Award Agreement and the terms of the Plan, the Plan’s terms shall completely supersede and replace the conflicting terms of this Award Agreement.

Overview of Your Performance Share Unit Grant

1.Number of Performance Share Units Granted:  Number of Awards Granted

2.Grant Date:  Grant Date

3.Vesting of Performance Share Units:  Subject to the terms of Section 7 and 8 below, the Performance Share Units shall vest on Cliff Vesting Date (the “Vesting Date”), provided that (i) you remain continuously employed by the Company through such Vesting Date and (ii) the Performance Measures determined by the Committee and set forth on Exhibit A for the period between January 1, 20[21]and the Vesting Date (the “Performance Period”) have been met as of such Vesting Date.

4.Impact of Vesting of Performance Share Units:  Within 21⁄2 months after the Vesting Date, or such earlier date on which the Performance Share Units vest pursuant to Section 8 below, the Company shall issue or deliver to you, subject to the achievement or deemed achievement of the Performance Measures set forth on Exhibit A and the other conditions of this Award Agreement, unrestricted Shares equal to the number of Performance Share Units that become vested, rounded up or down to the nearest whole number.  A portion of these Shares will be withheld to pay applicable withholding taxes.

5.Shareholder Rights:  Prior to the time that your Performance Share Units vest and the Company has issued Shares relating to such Performance Share Units, you will not be deemed to be the holder of, or to have any of the rights of a holder with respect to, any Shares deliverable with respect to such Performance Share Units.  However, as of each date on which a cash dividend is paid to holders of Shares, a Divided Equivalent in an amount equal to the cash dividend that is paid on each Share, multiplied by the number of Performance Share Units that remain unvested and outstanding or otherwise have not been settled as of 

EXHIBIT 10.4

the dividend payment date (the “Dividend Equivalent Amount”) shall be credited to an unfunded account for your benefit.  The aggregate Dividend Equivalent Amount, if any, credited to such account shall vest and be paid in cash at the same time and subject to the same vesting and performance conditions as the corresponding Performance Share Units to which the Dividend Equivalent Amount relates.   From and after the date Shares are actually issued or delivered upon settlement of the Performance Share Units, you then will have dividend rights with respect to those Shares.

6.Non-Transferability of Performance Share Units: 
(a)No assignment or transfer of Performance Share Units, whether voluntary or involuntary, by operation of law or otherwise, can be made except by will or the laws of descent and distribution or pursuant to beneficiary designation procedures approved by the Company. 

(b)Notwithstanding the preceding paragraph, you may transfer your Restricted Stock Units to one or more family members (as such term is defined in the General Instructions to Form S-8, (or any successor to such instructions or such form) under the Securities Act of 1933, as amended) or to one or more trusts established solely for the benefit of one or more family members or to one or more partnerships in which the only partners are family members; provided, however, that (i) no such transfer shall be effective unless you deliver reasonable prior notice thereof to the Company and such transfer is thereafter effected subject to the specific authorization of, and in accordance with any terms and conditions that shall have been made applicable thereto by, the Committee or the Board, (ii) any such transferee shall be subject to the same terms and conditions hereunder as you are and (iii) such transfer cannot be made for value. 

7.Termination of Employment:

(a)By Death or Disability:   If your employment terminates due to your death or Disability, a prorated number of your outstanding Performance Share Units shall become vested at the end of the Performance Period, which prorated number shall be determined by multiplying the number of Performance Share Units that are earned at the end of the Performance Period, based on the extent to which the Performance Measures set forth on Exhibit A are achieved, by a fraction, the numerator of which is the number of months in the Performance Period that occurred prior to such termination of employment, and the denominator of which is the total number of months in the Performance Period.  For this purpose, you will be credited with a month of employment during the Performance Period only if you are employed for at least 15 days during such month.  Any Performance Share Units that do not become vested pursuant to this Section 7(a) shall be forfeited.  The Performance Share Units that become vested pursuant to this Section 7(a) shall be issued to you or your beneficiary or estate within 21⁄2 months after the last day of the Performance Period.  

EXHIBIT 10.4

(b)By Retirement:   If your employment terminates after your Retirement Eligible Date for a reason other than Cause, as defined below, a prorated number of your outstanding Performance Share Units shall become vested as of the end of the Performance Period. The prorated number shall be determined by multiplying the number of Performance Share Units that are earned at the end of the Performance Period, based on the extent to which the Performance Measures set forth on Exhibit A are achieved, by a fraction, the numerator of which is the number of months in the Performance Period that occurred prior to such termination of employment, and the denominator of which is the total number of months in the Performance Period.  For this purpose, you will be credited with a month of employment during the Performance Period only if you are employed for at least 15 days during such month.  Any Performance Share Units that do not become vested pursuant to this Section 7(b) shall be forfeited.  The Performance Share Units that become vested pursuant to this Section 7(b) shall be issued to you within 21⁄2 months after the last day of the Performance Period.   

(c)For Other Reasons:  Performance Share Units which are not vested as of the date of employment termination for reasons other than those specified in Section 7(a) or 7(b) and which have not become vested pursuant to Section 8 shall immediately terminate and shall be forfeited to the Company.

(d)Definition of Cause:  For purposes of this Award Agreement, “Cause” shall have the meaning described in your employment or severance agreement with the Company, or if no such agreements exists, then it shall mean your: (i) repeated failure to perform a substantial part of your duties and responsibilities; (ii) willful misconduct, illegal act, fraud or dishonesty; (iii) material violation of the rules of conduct of the Company or (iv) violation of your duty of confidentiality and loyalty to the Company, which in each case shall be determined by the Company in its sole and absolute discretion. 

8.Change in Control:  In the event of a Change in Control, the achievement of the Performance Measures shall be determined, and the Performance Share Units shall vest in accordance with the terms of the Plan.

9.Section 409A.  The Performance Share Units are intended to be exempt from Section 409A of the Code, and this Award Agreement shall be interpreted and construed accordingly.  

Please acknowledge your agreement to participate in the Plan and this Award Agreement, and to abide by all of the governing terms and provisions, by providing your digital signature on the Agreement to Participate attached hereto as Exhibit B.  Please print a copy of the Agreement to Participate for your files.

Refer any questions you may have regarding your grant of Performance Share Units to the Vice President, Member and Community Relations.  Once again, congratulations on the receipt of your Performance Share Unit award.

EXHIBIT 10.4

Sincerely,

Jeff Lorenger
Chairman, President and Chief Executive Officer
HNI Corporation

    
    

EXHIBIT 10.4

EXHIBIT A

Performance Share Unit Award
Performance Measures for the Performance Period

EXHIBIT 10.4

EXHIBIT B

HNI Corporation 2021 Stock-Based Compensation Plan:
Performance Share Unit Award
Agreement to Participate

By signing this Agreement to Participate, I acknowledge that I have read the Award Agreement and the Plan, and that I fully understand all of my rights thereunder, as well as all of the terms and conditions which may limit the vesting of the Performance Share Units.

Electronic Signature                        Date of Signature 
Participant NameDocument

Exhibit 10.2
									
	
		5405 Windward Parkway
Alpharetta, GA 30004
T  1-844-425-9273
avanos.com

May 21, 2021 

Ms. Mojirade James
1900 Hamilton Street
Apt D18
Philadelphia, PA 19130

Dear Mojirade:

We are pleased to extend to you an offer of employment to join Avanos Medical, Inc. (“Avanos”) in the position of Senior Vice President & General Counsel.  In this role, you will report directly to Joe Woody, the Chief Executive Officer of Avanos.

Start Date
Your anticipated start date is July 12, 2021.  

Compensation
As discussed, your target total annual compensation is $1,370,000, consisting of base salary, short-term incentive compensation, and long-term incentive compensation, as follows:

Base Salary
Your starting salary will be $425,000 per year and is subject to applicable withholdings and deductions. Consistent with our practices for salaried officers, your salary will be paid semi-monthly on the 15th and last working day of the month.

Short-Term Incentive Compensation
You will be eligible to participate in Avanos’s Management Achievement Award Plan (MAAP). Your bonus incentive target will be 60% of your base pay earned during the year (annual target = $255,000). Your actual bonus for 2021 will be prorated for the year.

Bonus criteria are established each year by the Compensation Committee. For the year 2021, your bonus will be based on Avanos performance for the year against targets established by the Compensation Committee in March, 2021. In early 2022, the Committee will assess the extent to which those performance targets have been met and then approve the resulting payouts to officers. The complete terms and conditions of MAAP are set forth in Avanos’s plan document.
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Exhibit 10.2

Long-Term Incentive Compensation
Beginning in 2022, you will be eligible for annual long-term incentive grants under Avanos’ Equity Participation Plan.  For 2022, your target annual award value is $700,000. Your award will be granted as soon as administratively feasible after your start date and consists of a combination of the following:
 
•time-based restricted share units, with a grant date value of $525,000. The target number of time-based share units to be granted will be equal to the grant date value ($525,000) divided by the closing stock price for Avanos shares on the grant date.  
 
•performance-based restricted share units, with a grant date value of $175,000. The target number of performance-based share units to be granted will be equal to the grant date value ($175,000) divided by the closing stock price for Avanos shares on the grant date. Performance-based restricted share units will vest at the end of the three-year performance period (1/1/2022 – 12/31/2024). The number of performance-based restricted share units that will ultimately vest will depend on the extent to which the performance metrics for those units have been met, as determined by the Compensation Committee after the end of the three-year performance period.

Future annual long-term incentive target grant amounts, along with the grant type and mix, are subject to change by the Board of Directors in their discretion. The complete terms and conditions of Avanos’ Equity Participation Plan are set forth in Avanos’ plan document.

Sign-on Award
You will also be awarded a one-time sign-on award in the amount of $350,000. This award will be granted as of your start date and will consist of cash in the amount of $100,000 and time-based restricted share units in the amount of $250,000. The cash award will be paid to you within 90 days of your start date. The number of time-based restricted share units to be granted will be equal to the sign-on equity award amount ($250,000) divided by the closing stock price for Avanos shares on the grant date. These time-based restricted share units will vest in 1/3rd increments on the first, second and third anniversaries of the grant date. The sign-on equity award will be subject to applicable state and federal tax withholdings when paid.

Benefits
Avanos offers a comprehensive benefits package that includes medical, dental, vision, life insurance, flexible spending accounts, company-paid disability programs, employee stock purchase plan, and a matching 401(k) plan. You will be provided a benefits guide with details of these programs.
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Exhibit 10.2

Vacation
As an employee of Avanos, you will receive three (3) weeks of vacation and four (4) personal holidays per year. Vacation and personal holidays are prorated based on your date of hire.

Relocation 
Avanos’s corporate headquarters are based in Alpharetta, Georgia and you are expected to relocate to that area within 18 months of your acceptance of this offer. You will be eligible to participate in Avanos’s Relocation Program. Weichert Workforce Mobility Inc. administers Avanos’s relocation services. A Weichert representative will contact you following your acceptance of this employment offer to review the Relocation Program with you. 

In the unlikely event that you voluntarily leave the organization before your second anniversary, you will be obligated to repay to Avanos any relocation payments you have received under the Relocation Program.

Pending your relocation, Avanos will provide you with corporate housing rental or extend-stay reimbursements associated with temporary housing for six months.  All costs under the relocation program will be grossed up to satisfy all federal, state, and local taxes on actual and/or imputed income taxable to you,

Travel
Prior to your relocation to Alpharetta, GA, air travel expenses (up to 6 flights) from and to your home in Philadelphia to Alpharetta, GA will be covered by the company as needed to come into the office.  You should discuss your plans with your Manager before doing so and you will book all flights through the Avanos Travel partner.  These trips are separate from the benefits covered under the Avanos Relocation Program.

Severance
You will be eligible to participate in Avanos’s existing Severance Plan. The general terms of the plan are described in Avanos’s proxy statement, and the complete terms and conditions are set forth in Avanos’s plan documents.   

Other Considerations
This offer is contingent upon: (1) the satisfactory completion of a background check and drug test; (2) verification of your legal right to work in the United States; (3) acknowledgment that you are not under any non-compete, non-solicitation or any other agreements that would prevent you from working for Avanos; and (4) your acceptance of Avanos’s Confidentiality, Non-Solicitation and Assignment of Business Ideas Agreement.  This agreement is required of all new hires of Avanos because of an employee's potential access to confidential information, customer lists and trade secrets.
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Exhibit 10.2

You agree to devote your best efforts, business time, attention and energies to the business and interests of the Avanos on an exclusive basis during your employment.  The above notwithstanding, Avanos will support you serving on the board of directors of one (1) non-profit or for profit entity provided that such entity does not represent a business or competitive conflict of interest with Avanos and is approved by the Board of Directors.

Employment at Avanos is at-will and can be ended by you or the company for any reason at any time.  Furthermore, this letter is simply intended to provide a general description of the terms of your at-will employment.  It does not constitute a contract or give rise to any contractual or quasi-contractual rights, and the offer of employment or the terms of the employment may be changed or rescinded by Avanos at any time.

We look forward to your acceptance of this offer and would appreciate your prompt response.

If you have any questions or need additional information, please give me or Joe Woody a call.

Sincerely,

/s/ John W. Cato

John W. Cato
Director, Human Resources

 

To indicate your acceptance of this offer and its terms and conditions, please sign in the space provided below.  

ACCEPTED:

/s/ Mojirade James
___________________
Mojirade James
May 21, 2021
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