Document:

exhibit10w.htm

    Exhibit
      10(w)

    

    [Missing
      Graphic
      Reference] 

    AWARD
      AGREEMENT

    (For
      Restricted Stock
      Award)

    

    To:           
      Number:

    (Name
      of Award Recipient)

               
      Date of Grant:

    

    

    There
      hereby is granted to you, as a key employee of Invacare Corporation (
“Invacare” ) or  of  a subsidiary, a restricted award for
______ Invacare
      Common Shares, no par value, at an award price of $0.0 per Share. This award
      is
      granted to you pursuant to the Invacare Corporation 2003 Performance Plan
      (the “Plan”) and
      is
      subject to the terms and conditions set forth below.  This award is
      granted for valuable future services
      to be rendered by you to Invacare Corporation.
      Please acknowledge your acceptance
      of the terms of this award by signing on  the
      reverse
      side.

    
      	 	 	 
	 	 	 	 
	
               

            	
               

            	
              /s/ A.
                Malachi Mixon, III

            	 
	 	 	
              A.
                Malachi Mixon, III

            	 
	 	 	
              Chairman
                and Chief Executive Officer

            	 
	 	 	 	 

    I.  VESTING
      AND DELIVERY OF
      SHARES

        You
      shall vest and will receive a certificate for  the percentage of
      shares indicated on the date shown opposite such percentage, rounded to the
      nearest whole share:

    

      Percentage
      of Award

      Shares
      to be delivered

    On
      the corresponding

           Date
      indicated                                           
Date of Delivery
      of
      Shares

              25%                                           
      

              25%                                           
      

              25%                                           
      

              25%                                
      

    

    Except
      as
      provided herein, the award will not vest, and you shall not receive a
      certificate on each vesting date indicated above unless you are a current
      employee of Invacare or a subsidiary on a continuous basis from the date hereof
      through such vesting date.

    

    II.  TERM
      OF
      AWARD

         Your
      award shall not be affected by any temporary leave of absence approved in
      writing by Invacare and described in Section 1.421-7(h) of the Federal Income
      Tax Regulations.  If you cease to be an employee for any reason other
      than death, you  will forfeit any unvested shares you have not
      received as of the date you terminate your employment.

    

        If
      you die while you are an employee, your estate or personal representative shall
      receive the award and be entitled to all remaining award rights pursuant to
      Paragraph I, until the award has fully vested and your estate or personal
      representative has received all of the remaining shares not delivered to you
      as
      of the date of your death.

     

        If
      the Invacare Compensation Committee (the “Committee”) finds that you
      intentionally committed an act materially inimical to the interests of Invacare
      or a subsidiary, your unexercised purchase rights will terminate as of the
      time
      you committed such act, as determined by the Committee.

    

    
      	
               

            	
              III.
                TERMINATION OF AWARD UNDER 

            

    

    
      	
               

            	
                    CERTAIN
                CIRCUMSTANCES

            

    

    

          The
      Committee may cancel your award at any time, in which case you shall forfeit
      any
      unvested shares as of the date of such cancellation, if you are not in
      compliance with all applicable provisions of this Agreement or the Plan or
      if
      you, without the prior written consent of the Committee, engage in any of the
      following activities:  (i)  you render services for an
      organization, or engage in a business, that is, in the judgment of the
      Committee, in competition with Invacare; or (ii) you disclose to anyone outside
      of Invacare, or use for any purpose other than Invacare's business, any
      confidential  information or material relating to  Invacare,
      whether acquired by you during or after employment with Invacare, in a fashion
      or with a result that is or may be injurious to the best interests of Invacare,
      as determined by the Committee.

    

       The
      Committee may, in its discretion and as a condition to the continuance of this
      award, require you to represent in writing that you are in compliance with
      all
      applicable provisions of this Agreement and the Plan and have not engaged in
      any
      activities referred to in clauses (i) and (ii) above.

     

    IV.  DIVIDENDS

         You
      shall  be entitled to all dividends with respect to all of the shares
      comprising this award as of the date of the grant of this award, irrespective
      of
      whether the shares have become vested.  Such amount shall be paid to
      you and treated appropriately for tax purposes.

    

    V.  CHANGE
      IN
      CONTROL

         Upon  a
      change in control (as such term is defined in the Plan), unless and to the
      extent otherwise determined by Invacare's Board of Directors, the vesting of
      this award will accelerate and you shall receive all shares not previously
      vested and delivered to you.

    

    VI.  TRANSFERABILITY

           This
      Agreement shall be binding upon and inure to the benefit of any successor of
      Invacare and your heirs, estate and personal representative.  Your
      award shall not be transferable other than by  Will or the laws of
      descent and distribution.

    

    VII.  ADJUSTMENTS
      OR
      AMENDMENTS

            In
      the event that, subsequent to the date of this Agreement, the outstanding common
      shares of Invacare are, as a result of a stock split, stock dividend,
      combination or exchange of shares, exchange of other securities,
      reclassification, reorganization, redesignation, merger, consolidation,
      recapitalization, liquidation, dissolution, sale of assets or other such change,
      including, without limitation, any transaction described in Section 424(a)
      of
      the Code, increased, decreased, changed into or exchanged for a different number
      or kind of shares of stock or other securities of Invacare or another entity
      or
      converted into cash, then, except as otherwise provided below, there shall
      automatically be substituted for each Invacare common share subject to the
      unvested portion of the award, the amount of cash or other securities or
      property into which each outstanding Invacare Common Share shall be converted
      or
      exchanged. Notwithstanding the preceding provisions of this Article VII, the
      Committee may, in its sole discretion, make other adjustments or amendments
      to
      the securities subject to the award and/or amend the provisions of the Plan
      and/or this Agreement (including, without limitation, accelerating the date
      on
      which shares shall vest), to the extent appropriate, equitable and in compliance
      with the provisions of Section 424(a) of the Code to the extent applicable
      and
      any such adjustment or amendment shall be final, binding and
      conclusive.  Any such adjustment or amendment shall provide for the
      elimination of fractional shares.

    

    VIII.  PROVISIONS
      OF PLAN
      CONTROL

             This
      Agreement is subject to all of the terms, conditions and provisions of the
      Plan
      (all of which are incorporated herein by reference) and to such rules,
      regulations, and interpretations related to the Plan as may be adopted by the
      Committee and as may be in effect from time to time.  In the event and
      to the extent that this Agreement conflicts or is inconsistent with the terms,
      conditions, and provisions of the Plan, the Plan shall control, and this
      Agreement shall be deemed to be modified accordingly.  The Committee
      has authority to interpret and construe any provision of this Agreement and
      its
      interpretation and construction shall be binding and conclusive.

    

    IX.   LIABILITY

            The
      liability of Invacare under this Agreement and any distribution of shares made
      hereunder is limited to the obligations set forth herein with respect to such
      distribution and no term or provision of this Agreement shall be construed
      to
      impose any liability on Invacare, its officers, employees or any subsidiary
      with
      respect to any loss, cost or expense which you may incur in connection with
      or
      arising out of any transaction in connection with this Agreement.

    

    X.  WITHHOLDING

          You
      agree that, as a condition to your receipt of the shares awarded
      hereunder,  Invacare may make appropriate provision for tax
      withholding with respect to the transactions contemplated by this
      Agreement.

    

    XI.  EXECUTION
      OF STOCK
      POWERS

          Four
      stock certificates, each prepared in your name, shall be produced as of the
      date
      of this award.  Each certificate shall correspond to the number of
      shares you shall receive on a specific vesting date pursuant to paragraph I,
      and
      will be retained by Invacare until such vesting date.  You agree that,
      as a condition to your receipt of this award, that you will execute a blank
      stock power  to be referenced to and attached to each certificate, and
      you further agree and understand that in the event you forfeit any unvested
      shares for any reason as further described in this award, Invacare will use
      such
      stock power you have exercised to transfer title of the certificate to Invacare
      Corporation.  Upon delivery of any certificate on the appropriate
      vesting date, the related executed stock power shall also be delivered to you,
      or in the event of your death, to your estate or personal representative.

    

    

    ACCEPTANCE

    

    The
      undersigned hereby accepts the terms of the restricted stock award granted
      herein and acknowledges receipt of a copy of the Invacare Corporation 2003
      Performance Plan.

    

    _________________________        ___________________

    (Signature
      of Award
      Recipient)                                           
(Date)exhibit10x.htm

    Exhibit
      10(x)

    [Missing
      Graphic Reference] 

    

    

    AWARD
      AGREEMENT

    (For
      Non-Qualified Stock
      Option)

    

    To:           
                 
Number:

    (Name
      of Optionee)

    Date
      of Grant:

    

    There
      hereby is granted to you, as a key employee of Invacare Corporation ( “Invacare”
) or  of  a subsidiary, an option to purchase ______
      Invacare Common Shares, no par value, at an option price of $_____ per Share.
      This option is granted to you pursuant to the Invacare Corporation 2003
      Performance Plan (the “Plan”) and is subject to the terms and conditions set
      forth below.  This option is not an incentive stock option
as
      defined in Section 422 of the Internal Revenue Code
      (the
“Code”).  Please acknowledge your acceptance
      of the terms of this option by signing on  the
      reverse side.

    
      	 	 	 
	 	 	 	 
	
               

            	
               

            	
              /s/ A.
                Malachi Mixon, III

            	 
	 	 	
              A.
                Malachi Mixon, III

            	 
	 	 	
              Chairman
                and Chief Executive Officer

            	 
	 	 	 	 

    I.  PURCHASE
      RIGHTS &
EXERCISE DATES

        You
      shall be entitled to exercise this option with respect to the percentage of
      shares indicated on or after the date shown opposite such percentage, rounded
      to
      the nearest whole share:

    

       Cumulative
      Maximum

    Percentage
      of Optioned

      Shares
      which may be

     purchased
      by
      exercise                       Date
      beginning on which

           of
      the
      Option                                
Option may
      be
      exercised

              25%                                           
      

              50%                                           
      

              75%                                           
      

             100%                                            
      

    

        To
      the extent that the option becomes exercisable with respect to any shares,
      as
      shown above, the option may thereafter be exercised by you either with respect
      to all or any number of such shares at any time or from time to time prior
      to
      the expiration of the option.  However, no fractional shares may be
      purchased.  Except as provided herein, the option may not be exercised
      unless you are an employee at the time of exercise.

    

    II.  TERM
      OF
      OPTION

         The
      term of the option shall be for a period of ten (10) years commencing on the
      Date of Grant as set forth above.  The option shall expire at the
      close of regular business hours at Invacare's principal office on the last
      day
      of the term of the option, or, if earlier, on the applicable expiration date
      provided in this Agreement.

    

         (a)  Your
      option shall not be affected by any temporary leave of absence approved in
      writing by Invacare and described in Section 1.421-7(h)
      of
      the Federal Income Tax Regulations.  If you cease to be an
employee
      for any reason other than death or retirement as defined
      by
      Invacare’s Compensation Committee (the “Committee”), (in which case you shall
      become a Retired employee), you may exercise your option only to the extent
      of
      such purchase rights as may exist pursuant to Paragraph I as of the date you
      cease to be an employee and which have not been exercised.  Upon your
      ceasing to be an employee, other than by Retirement as defined by the Committee,
      such purchase rights shall in any event terminate upon the earlier of (a) three
      (3) months [one (1) year if you ceased to be an employee, because of a
      disability (as such term is defined in Section 72(m) (7) of the Code)] after
      the
      date you ceased to be an employee, or (b) the last day of the term of the
      option.  If you become a  Retired employee, as defined, you
      retain your purchase rights  pursuant to Paragraph I, until the option
      terminates pursuant to Paragraph II.

    

         (b)  If
      you die while you are an employee, a Retired employee or within three (3) months
      of your having ceased to be an employee, a personal representative may exercise
      the option to the extent of your purchase rights as may exist pursuant to
      Paragraph I at the date of your death and which have not been exercised; provided, however,
      that such purchase rights shall in any event terminate upon the earlier
      of:  (i)  one (1) year after you cease to be an employee,
      unless you are a Retired employee in which case you shall have one (1) year
      subsequent to your death; or (ii)  the last day of the term of the
      option.

    

        (c)  If
      the Committee finds that you intentionally committed an act materially inimical
      to the interests of Invacare or a subsidiary, your unexercised purchase rights
      will terminate as of the time you committed such act, as determined by the
      Committee.

     

    
      	
               

            	
              III.
                TERMINATION OF OPTION UNDER 

            

    

    
      	
               

            	
                    CERTAIN
                CIRCUMSTANCES

            

    

          The
      Committee may cancel your option at any time if you are not in compliance with
      all applicable provisions of this Agreement or the Plan or if you, without
      the
      prior written consent of the Committee, engage in any of the following
      activities:  (i)  you render services for an organization,
      or engage in a business, that is, in the judgment of the Committee, in
      competition with Invacare; or (ii) you disclose to anyone outside of Invacare,
      or use for any purpose other than Invacare's business, any
      confidential  information or material relating to  Invacare,
      whether acquired by you during or after employment with Invacare, in a fashion
      or with a result that is or may be injurious to the best interests of Invacare,
      as determined by the Committee.

    

       The
      Committee may, in its discretion and as a condition to the exercise of your
      option, require you to represent in writing that you are in compliance with
      all
      applicable provisions of this Agreement and the Plan and have not engaged in
      any
      activities referred to in clauses (i) and (ii) above.

    

    IV.  EXERCISE
      OF
      OPTION

          The
      option may be exercised by delivering to the Invacare Finance Department, at
      Invacare's principal office, a completed Notice of Exercise of Option
      (obtainable from the Finance Department) setting forth the number of shares
      with
      respect to which your option is being exercised.  Such Notice shall be
      accompanied by either  payment in full for the  shares, or
      the execution of a cashless exercise in accordance with the procedures
      established by the Committee.

    

    V.  CHANGE
      IN
      CONTROL

         Upon  a
      change in control (as such term is defined in the Plan), unless and to the
      extent otherwise determined by Invacare's Board of Directors, you may exercise
      your option with respect to all shares covered therein.

    

    VI.  TRANSFERABILITY

           This
      Agreement shall be binding upon and inure to the benefit of any successor of
      Invacare and your heirs, estate and personal representative.  Your
      option shall not be transferable other than by  Will or the laws of
      descent and distribution, and your option may be exercised during your lifetime
      only by you provided that a guardian or other legal representative, who has
      been
      duly appointed may,  except as otherwise provided in the Plan,
      exercise the option on your behalf.  Your personal representative
      shall act in your place with respect to exercising the option or taking any
      other action pursuant to the Agreement.

    

    VII.  ADJUSTMENTS
      OR
      AMENDMENTS

            In
      the event that, subsequent to the date of this Agreement, the outstanding common
      shares of Invacare are, as a result of a stock split, stock dividend,
      combination or exchange of shares, exchange of other securities,
      reclassification, reorganization, redesignation, merger, consolidation,
      recapitalization, liquidation, dissolution, sale of assets or other such change,
      including, without limitation, any transaction described in Section 424(a)
      of
      the Code, increased, decreased, changed into or exchanged for a different number
      or kind of shares of stock or other securities of Invacare or another entity
      or
      converted into cash, then, except as otherwise provided below, (i) there shall
      automatically be substituted for each Invacare common share subject to an
      unexercised option, the amount of cash or other securities into which each
      outstanding Invacare common share shall be converted or exchanged and (ii)
      the
      option price per common share or unit of securities shall be increased or
      decreased proportionally so that the aggregate purchase price for any securities
      subject to the option shall remain the same as immediately prior to such
      event.  Notwithstanding the preceding provisions of this Article VII,
      the Committee may, in its sole discretion, make other adjustments or amendments
      to the securities subject to options and/or amend the provisions of the Plan
      and/or this Agreement (including, without limitation, accelerating the date
      on
      which unexercised options shall expire or terminate), to the extent appropriate,
      equitable and in compliance with the provisions of Section 424(a) of the Code
      to
      the extent applicable and any such adjustment or amendment shall be final,
      binding and conclusive.  Any such adjustment or amendment shall
      provide for the elimination of fractional shares.

    

    VIII.  PROVISIONS
      OF PLAN
      CONTROL

             This
      Agreement is subject to all of the terms, conditions and provisions of the
      Plan
      (all of which are incorporated herein by reference) and to such rules,
      regulations, and interpretations related to the Plan as may be adopted by the
      Committee and as may be in effect from time to time.  In the event and
      to the extent that this Agreement conflicts or is inconsistent with the terms,
      conditions, and provisions of the Plan, the Plan shall control, and this
      Agreement shall be deemed to be modified accordingly.  The Committee
      has authority to interpret and construe any provision of this Agreement and
      its
      interpretation and construction shall be binding and conclusive.

    

    IX.   LIABILITY

            The
      liability of Invacare under this Agreement and any distribution of shares made
      hereunder is limited to the obligations set forth herein with respect to such
      distribution and no term or provision of this Agreement shall be construed
      to
      impose any liability on Invacare, its officers, employees or any subsidiary
      with
      respect to any loss, cost or expense which you may incur in connection with
      or
      arising out of any transaction in connection with this Agreement.

    

    X.  WITHHOLDING

          You
      agree that, as a condition to your exercise of this Option,  Invacare
      may make appropriate provision for tax withholding with respect to the
      transactions contemplated by this Agreement.

    

    ACCEPTANCE

    

    The
      undersigned hereby accepts the terms of the stock option granted herein and
      acknowledges receipt of a copy of the Invacare Corporation 2003 Performance
      Plan.

    

    _________________________        ___________________

    (Signature
      of
      Optionee)                                
(Date)

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