Document:

EX-1028

		
			Exhibit 10.28
		

		
			 
		

		
			ANTERO RESOURCES CORPORATION
		

		
			LONG-TERM INCENTIVE PLAN
		

		
			RESTRICTED STOCK UNIT GRANT NOTICE
		

		
			Pursuant to the terms and conditions of the Antero Resources Corporation Long-Term Incentive Plan, as amended from time to time (the “Plan”), Antero Resources Corporation (the “Company”) hereby grants to the individual listed below (“you” or the “Participant”) the number of Restricted Stock Units (the “RSUs”) set forth below.  This award of RSUs (this “Award”) is subject to the terms and conditions set forth herein and in the Restricted Stock Unit Agreement attached hereto as Exhibit A (the “Agreement”) and the Plan, each of which is incorporated herein by reference.  Capitalized terms used but not defined herein shall have the meanings set forth in the Plan.
		

			
					
						 

					
					
						 

				
	
					
						Participant:

					
					
						[___________________________________]

				
	
					
						Date of Grant:

					
					
						[________________], 20___

				
	
					
						Total Number of Restricted Stock Units:

					
					
						[___________]

				
	
					
						Vesting Commencement Date:

					
					
						[________________], 20___

				
	
					
						Vesting Schedule:

					
						 

					
						 

					
					
						Subject to the Agreement, the Plan and the other terms and conditions set forth herein, 25% of the RSUs (rounded to the nearest whole number of RSUs, except in the case of the final vesting date) shall vest on each of the first, second, third and fourth anniversaries of the Vesting Commencement Date identified above so long as you remain continuously employed by the Company from the Date of Grant through each such anniversary date.  Notwithstanding anything in the preceding sentence to the contrary, the RSUs granted hereunder shall immediately become fully vested if Employee’s employment with the Company terminates by reason of Employee’s disability (within the meaning of section 22(e)(3) of the Code) or death so long as Employee remains continuously employed by the Company from the Date of Grant through the date of such termination.

				

		
			 
		

		
			By your signature below, you agree to be bound by the terms and conditions of the Plan, the Agreement and this Restricted Stock Unit Grant Notice (this “Grant Notice”).  You acknowledge that you have reviewed the Agreement, the Plan and this Grant Notice in their entirety and fully understand all provisions of the Agreement, the Plan and this Grant Notice.  You hereby agree to accept as binding, conclusive and final all decisions or interpretations of the Committee regarding any questions or determinations arising under the Agreement, the Plan or this Grant Notice.  This Grant Notice may be executed in one or more counterparts (including portable document format (.pdf) and facsimile counterparts), each of which shall be deemed to be an original, but all of which together shall constitute one and the same agreement.
		

		
			[Remainder of Page Intentionally Blank;
		

		
			Signature Page Follows]
		

		
			 
		

		

		

		 

 

		IN WITNESS WHEREOF, the Company has caused this Grant Notice to be executed by an officer thereunto duly authorized, and the Participant has executed this Grant Notice, effective for all purposes as provided above.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						ANTERO RESOURCES CORPORATION

					
						 

					
						 

					
						By:

					
						Alvyn A. Schopp

					
						Chief Administrative Officer and Regional 

					
						Vice President

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						PARTICIPANT

					
						 

					
						 

					
						

					
						[Name of Employee]

				

		
			 
		

		
			 
		

		

		

		 

 

		EXHIBIT A
		

		
			RESTRICTED STOCK UNIT AGREEMENT
		

		
			This Restricted Stock Unit Agreement (this “Agreement”) is made as of the Date of Grant set forth in the Grant Notice to which this Agreement is attached by and between Antero Resources Corporation, a Delaware corporation (the “Company”), and [__________________] (“Employee”).Capitalized terms used but not specifically defined herein shall have the meanings specified in the Plan or the Grant Notice.
		

			
	
			
				 1.
			Award.  In consideration of Employee’s past and/or continued employment with, or service to, the Company or a Subsidiary and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, effective as of the Date of Grant set forth in the Grant Notice (the “Date of Grant”), the Company hereby grants to Employee the number of RSUs set forth in the Grant Notice on the terms and conditions set forth in the Grant Notice, this Agreement and the Plan, which is incorporated herein by reference as a part of this Agreement.In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan shall control.  To the extent vested, each RSU represents the right to receive one share of Common Stock, subject to the terms and conditions set forth in the Grant Notice, this Agreement and the Plan.  Unless and until the RSUs have become vested in the manner set forth in the Grant Notice, Employee will have no right to receive any Common Stock or other payments in respect of the RSUs.  Prior to settlement of this Award, the RSUs and this Award represent an unsecured obligation of the Company, payable only from the general assets of the Company.

			
	
			
				 2.
			Vesting of RSUs.  The RSUs shall vest in accordance with the vesting schedule set forth in the Grant Notice.  Unless and until the RSUs have vested in accordance with such vesting schedule, Employee will have no right to receive any dividends or other distribution with respect to the RSUs. In the event of the termination of Employee’s employment prior to the vesting of all of the RSUs (but after giving effect to any accelerated vesting pursuant to the Grant Notice), any unvested RSUs (and all rights arising from such RSUs and from being a holder thereof) will terminate automatically without any further action by the Company and will be forfeited without further notice and at no cost to the Company.

			
	
			
				 3.
			Settlement of RSUs.  As soon as administratively practicable following the vesting of RSUs pursuant to Section 2, but in no event later than 30 days after such vesting date, the Company shall deliver to Employee (or Employee’s permitted transferee, if applicable) a number of shares of Common Stock equal to the number of RSUs subject to this Award that become vested on the applicable vesting date and cash equal to any DERs credited with respect to such vested RSUs or, at the discretion of the Committee, shares of Common Stock having a Fair Market Value equal to such DERs as of the applicable vesting date. Any fractional RSU that becomes vested hereunder shall be rounded down at the time shares of Common Stock are issued in settlement of such RSU.  No fractional shares of Common Stock, nor the cash value of any fractional shares of Common Stock, will be issuable or payable to Employee pursuant to this Agreement.  All shares of Common Stock issued hereunder shall be delivered either by delivering one or more certificates for such shares to Employee or by entering such shares in book-entry form, as determined by the Committee in its sole discretion.  The value of shares of Common Stock shall not bear any interest owing to the passage of time.  Neither this Section 3 nor any action taken pursuant to or in accordance with this Agreement shall be construed to create a trust or a funded or secured obligation of any kind.

			
	
			
				 4.
			Dividend Equivalent Rights.  Each RSU subject to this Award is hereby granted in tandem with a corresponding Dividend Equivalent (“DER”), which DER shall remain outstanding from the Date of Grant until the earlier of the settlement or forfeiture of the RSU to which it corresponds. Each vested DER shall entitle Employee to receive payments, subject to and in accordance with this Agreement, in an amount equal to any dividends paid by the Company in respect of the shares of Common Stock underlying the RSUs to which such DER relates. The Company shall establish, with respect to each RSU, a separate DER bookkeeping account for such RSU (a “DER Account”), which shall be credited (without interest) on the applicable dividend payment dates with an amount equal to any dividends paid during the period that such RSU remains outstanding with respect to the shares of Common Stock underlying the RSU to which such DER relates. Upon the vesting of an RSU, the DER (and the DER Account) with respect to such vested RSU shall also become vested. Similarly, upon the forfeiture of an RSU, the DER (and the DER Account) with respect to such forfeited RSU shall also be forfeited. DERs shall not entitle Employee to any payments relating to dividends paid after the earlier to occur of the applicable RSU settlement date or the forfeiture of the RSU underlying such DER.

			
	
			
				 5.
			Rights as Stockholder.  Neither Employee nor any person claiming under or through Employee shall have any of the rights or privileges of a holder of shares of Common Stock in respect of any shares that may become deliverable hereunder unless and until certificates representing such shares have been issued or recorded in book entry form on the records of the Company or its transfer agents or registrars, and delivered in certificate or book entry form to Employee or any person claiming under or through Employee.

			
	
			
				 6.
			Tax Withholding.  To the extent that the receipt or vesting of the RSUs results in compensation income or wages to Employee for federal, state, local or foreign tax purposes, Employee shall deliver to the Company or to any Affiliate nominated by the 
		

		 

 

			Company at the time of such receipt or lapse, as the case may be, such amount of money or, if permitted by the Committee in its sole discretion, shares of Common Stock as the Company or any Affiliate nominated by the Company may require to meet its minimum obligation under applicable tax or social security laws or regulations, and if Employee fails to do so, the Company and its Affiliates are authorized to withhold, or cause to be withheld, from any cash or stock remuneration (including withholding any shares of Common Stock otherwise deliverable to Employee under this Agreement) then or thereafter payable to Employee in an amount equal to any tax or social security required to be withheld by reason of such resulting compensation income or wages, and to take such other action as may be necessary in the opinion of the Company to satisfy such withholding obligation.  Employee acknowledges and agrees that none of the Board, the Committee, the Company or any of its Affiliates have made any representation or warranty as to the tax consequences to Employee as a result of the receipt of the RSUs, the vesting of the RSUs or the forfeiture of any of the RSUs.  Employee represents that he is in no manner relying on the Board, the Committee, the Company or any of its Affiliates or any of their respective managers, directors, officers, employees or authorized representatives (including, without limitation, attorneys, accountants, consultants, bankers, lenders, prospective lenders and financial representatives) for tax advice or an assessment of such tax consequences. Employee represents that he has consulted with any tax consultants that Employee deems advisable in connection with the RSUs.

			
	
			
				 7.
			Non-Transferability.  During the lifetime of Employee, the RSUs may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, unless and until the shares of Common Stock underlying the RSUs have been issued, and all restrictions applicable to such shares have lapsed.  Neither the RSUs nor any interest or right therein shall be liable for the debts, contracts or engagements of Employee or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition is permitted by the preceding sentence.

			
	
			
				 8.
			Compliance with Securities Law.  Notwithstanding any provision of this Agreement to the contrary, the issuance of shares of Common Stock hereunder will be subject to compliance with all applicable requirements of applicable law with respect to such securities and with the requirements of any stock exchange or market system upon which the Common Stock may then be listed.  No shares of Common Stock will be issued hereunder if such issuance would constitute a violation of any applicable law or regulation or the requirements of any stock exchange or market system upon which the Common Stock may then be listed.  In addition, shares of Common Stock will not be issued hereunder unless (a) a registration statement under the Securities Act is in effect at the time of such issuance with respect to the shares to be issued or (b) in the opinion of legal counsel to the Company, the shares to be issued are permitted to be issued in accordance with the terms of an applicable exemption from the registration requirements of the Securities Act.  The inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal counsel to be necessary for the lawful issuance and sale of any shares of Common Stock hereunder will relieve the Company of any liability in respect of the failure to issue such shares as to which such requisite authority has not been obtained.  As a condition to any issuance of Common Stock hereunder, the Company may require Employee to satisfy any requirements that may be necessary or appropriate to evidence compliance with any applicable law or regulation and to make any representation or warranty with respect to such compliance as may be requested by the Company.

			
	
			
				 9.
			Legends.  If a stock certificate is issued with respect to shares of Common Stock delivered hereunder, such certificate shall bear such legend or legends as the Committee deems appropriate in order to reflect the restrictions set forth in this Agreement and to ensure compliance with the terms and provisions of this Agreement, the rules, regulations and other requirements of the Securities and Exchange Commission, any applicable laws or the requirements of any stock exchange on which the Common Stock is then listed.  If the shares of Common Stock issued hereunder are held in book-entry form, then such entry will reflect that the shares are subject to the restrictions set forth in this Agreement.

			
	
			
				 10.
			Execution of Receipts and Releases.  Any payment of cash or any issuance or transfer of shares of Common Stock or other property to Employee or Employee’s legal representative, heir, legatee or distributee, in accordance with this Agreement shall be in full satisfaction of all claims of such person hereunder.  As a condition precedent to such payment or issuance, the Company may require Employee or Employee’s legal representative, heir, legatee or distributee to execute a release and receipt therefor in such form as it shall determine appropriate; provided, however, that any review period under such release will not modify the date of settlement with respect to vested RSUs.

			
	
			
				 11.
			No Right to Continued Employment or Awards.

			
	
			
				 (a)
			For purposes of this Agreement, Employee shall be considered to be employed by the Company as long as Employee remains an Employee, or an employee of a corporation or other entity (or a parent or subsidiary of such corporation or other entity) assuming or substituting a new award for this Award.  Without limiting the scope of the preceding sentence, it is specifically provided that Employee shall be considered to have terminated employment with the Company at the time of the termination of the “Affiliate” status of the entity or other organization that employs Employee.  Nothing in the adoption of the Plan, nor the award of the RSUs thereunder pursuant to the Grant Notice and this Agreement, shall confer upon Employee the right to continued employment by, 
		

		 

 

			or a continued service relationship with, the Company or any such Affiliate, or any other entity, or affect in any way the right of the Company or any such Affiliate, or any other entity to terminate such employment at any time.  Unless otherwise provided in a written employment agreement or by applicable law, Employee’s employment by the Company, or any such Affiliate, or any other entity shall be on an at-will basis, and the employment relationship may be terminated at any time by either Employee or the Company, or any such Affiliate, or other entity for any reason whatsoever, with or without cause or notice.  Any question as to whether and when there has been a termination of such employment, and the cause of such termination, shall be determined by the Committee or its delegate, and such determination shall be final, conclusive and binding for all purposes.

			
	
			
				 (b)
			The grant of the RSUs is a one-time benefit and does not create any contractual or other right to receive a grant of Awards or benefits in lieu of Awards in the future. Future plans will be at the sole discretion of the Company.

			
	
			
				 12.
			Notices.  Any notices or other communications provided for in this Agreement shall be sufficient if in writing.  In the case of Employee, such notices or communications shall be effectively delivered if hand delivered to Employee at Employee’s principal place of employment or if sent by registered or certified mail to Employee at the last address Employee has filed with the Company.  In the case of the Company, such notices or communications shall be effectively delivered if sent by registered or certified mail to the Company at its principal executive offices.

			
	
			
				 13.
			Agreement to Furnish Information.  Employee agrees to furnish to the Company all information requested by the Company to enable it to comply with any reporting or other requirement imposed upon the Company by or under any applicable statute or regulation.

			
	
			
				 14.
			Entire Agreement; Amendment.  This Agreement constitutes the entire agreement of the parties with regard to the subject matter hereof, and contains all the covenants, promises, representations, warranties and agreements between the parties with respect to the RSUs granted hereby; provided ̧ however, that the terms of this Agreement shall not modify and shall be subject to the terms and conditions of any employment and/or severance agreement between the Company (or an Affiliate or other entity) and Employee in effect as of the date a determination is to be made under this Agreement.  Without limiting the scope of the preceding sentence, except as provided therein, all prior understandings and agreements, if any, among the parties hereto relating to the subject matter hereof are hereby null and void and of no further force and effect.  The Committee may, in its sole discretion, amend this Agreement from time to time in any manner that is not inconsistent with the Plan; provided, however, that except as otherwise provided in the Plan or this Agreement, any such amendment that materially reduces the rights of Employee shall be effective only if it is in writing and signed by both Employee and an authorized officer of the Company.

			
	
			
				 15.
			Governing Law.  This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without regard to conflicts of law principles thereof.

			
	
			
				 16.
			Successors and Assigns.  The Company may assign any of its rights under this Agreement without Employee’s consent.  This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company.  Subject to the restrictions on transfer set forth herein and in the Plan, this Agreement will be binding upon Employee and Employee's beneficiaries, executors, administrators and the person(s) to whom the RSUs may be transferred by will or the laws of descent or distribution.

			
	
			
				 17.
			Clawback.  Notwithstanding any provision in this Agreement, the Grant Notice or the Plan to the contrary, to the extent required by (a) applicable law, including, without limitation, the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, any Securities and Exchange Commission rule or any applicable securities exchange listing standards and/or (b) any policy that may be adopted or amended by the Board from time to time, all shares of Common Stock issued hereunder shall be subject to forfeiture, repurchase, recoupment and/or cancellation to the extent necessary to comply with such law(s) and/or policy.

			
	
			
				 18.
			Counterparts.  The Grant Notice may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument.  Delivery of an executed counterpart of the Grant Notice by facsimile or pdf attachment to electronic mail shall be effective as delivery of a manually executed counterpart of the Grant Notice.

			
	
			
				 19.
			Severability.  If a court of competent jurisdiction determines that any provision of this Agreement is invalid or unenforceable, then the invalidity or unenforceability of such provision shall not affect the validity or enforceability of any other provision of this Agreement, and all other provisions shall remain in full force and effect.

			
	
			
				 20.
			Code Section 409A. None of the RSUs, DERs or any amounts payable pursuant to this Agreement are intended to constitute or provide for a deferral of compensation that is subject to Section 409A of the Code and the Treasury regulations and other interpretive guidance issued thereunder (collectively, “Section 409A”). Nevertheless, to the extent that the Committee determines that the RSUs or DERs may not be exempt from Section 409A, then, if Employee is deemed to be a “specified employee” within the meaning of Section 409A, as determined by the Committee, at a time when Employee becomes eligible for settlement of the RSUs 
		

		 

 

			upon his “separation from service” within the meaning of Section 409A, then to the extent necessary to prevent any accelerated or additional tax under Section 409A, such settlement will be delayed until the earlier of: (a) the date that is six months following Employee’s separation from service and (b) Employee’s death.  Notwithstanding the foregoing, the Company makes no representations that the payments provided under this Agreement are exempt from or compliant with Section 409A and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by Employee on account of non-compliance with Section 409A.

		
			[Remainder of Page Intentionally Blank]CONMED CORPORATION

AMENDED AND RESTATED LONG-TERM INCENTIVE
PLAN

PERFORMANCE SHARE UNIT AGREEMENT

AGREEMENT (this “Agreement”),
dated as of February 24, 2015, between CONMED Corporation (the “Company”) and the employee (as herein defined) of the
Company named on Schedule I (the “Employee”). Capitalized terms not defined herein shall have the meanings ascribed
to them in the Company’s Amended and Restated Long-Term Incentive Plan (the “Plan”).

The parties hereto agree as follows:

1.          Grant of Performance Share Unit.
In accordance with the Plan, there is hereby granted on the date hereof to the Employee performance share units (each, a “Unit”)
in respect of the number of shares of the Company’s Common Stock set forth on Schedule I hereto under the terms and conditions
set forth in this Agreement and the Plan, including Schedule I. A Unit constitutes an unfunded and unsecured promise of the Company
to deliver (or cause to be delivered) to the Employee, subject to the terms and conditions of this Agreement, including the performance
and vesting conditions set forth in Schedule I, a share of the Company’s Common Stock, or, at the option of the Company cash
equal to the Fair Market Value thereof, on the Vesting Date (as defined below). Until such delivery, the Employee has only the
rights of a general unsecured creditor, and no rights as a shareholder, of the Company.

2.          General Vesting and Delivery.
Except as to accelerated vesting for death and disability and as otherwise required as specified in Sections 3 and 4, the Units
shall be earned and vest based on achievement of the performance goals for the applicable period (the “Performance Period”)
as set forth on Schedule I, and shall be payable on or no later than 15 days following the date or dates on which the Committee
certifies achievement of the applicable performance goals through the dates set forth on Schedule I (each, a “Vesting
Date”), subject in each case to the Employee’s continuous employment with the Company through such Vesting Date (and
in no event later than March 15 of the year following the year in which such Vesting Date occurs).

    	1

    	 

    

3.          Termination of Employment.
Except as provided in Section 4, upon the termination of the Employee’s employment with the Company and its subsidiaries
for any reason other than death or disability, the Employee’s rights in respect of any Units that are not vested shall immediately
terminate and such unvested Units shall cease to be outstanding and no shares of the Company’s Common Stock or cash will
be delivered in respect of such unvested Units. In the event that employment with the Company is terminated as a result of the
Employee’s death or disability (as determined under the applicable Company long-term disability plan as may be in effect
from time to time), unvested Units will immediately become vested on a pro rata basis measured based on the number of months completed
from the beginning of the Performance Period set forth on Schedule I until the effective date of such termination, relative to
sixty (60) months, with the number of such vested Units deemed to be earned based on the level of performance actually achieved
through the date of such termination as set forth on Schedule I ), and shall be payable as soon as practicable, but no later
than 15 days, following the date on which the Committee certifies achievement of the applicable performance goals through the termination
date (and in no event later than March 15 of the year following the year in which such employment termination occurs).

4.          Change
in Control. Notwithstanding anything in the Plan to the contrary, the unvested Units will not automatically vest (and will
not automatically be paid out) in the event of a Change in Control. Upon a Change in Control, outstanding unvested Units will
be deemed to be earned based on the level of performance actually achieved through the date of the Change in Control, pursuant
to the terms set forth on Schedule I, and will continue to vest, subject to the Employee’s continuous employment with
the Company, upon the Vesting Dates as described on Schedule I. 

    	2

    	 

    

In the event of a termination of Employee’s employment
by the Company other than for Cause, by the Employee for Good Reason or due to the Employee’s disability or death, in either
case, within two (2) years following a Change in Control, the number of unvested Change in Control Units (as defined on Schedule I)
will become fully vested, and shall be payable as soon as practicable, but no later than 15 days, following the termination date
(and in no event later than March 15 of the year following the year in which such employment termination occurs).

In the event of a Change in Control, the
Compensation Committee may take any such actions as are permitted under the Plan, including, but not limited to, providing that
the Units may be assumed or substituted by the acquiring company (or its parent company); provided that, in the event of a Change
in Control in which shareholders of the Company solely receive cash consideration for their shares of Common Stock and the Units
are assumed or substituted by the acquiring company (or its parent company), then, unless otherwise determined by the Compensation
Committee, the Units will be converted into a right to receive a cash payment equal to the cash consideration per share of Common
Stock paid to the Company’s shareholders in the Change in Control transaction. For purposes of this Agreement, the following
terms shall have the meanings set forth below:

(a)          “Change in Control”
means the occurrence of any one of the following events:

    	3

    	 

    

(i)          any “person”
(as such term is defined in Section 3(a)(9) of the Exchange Act and as used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act)
is or becomes a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities
of the Company representing 25% or more of the combined voting power of the Company’s then outstanding securities eligible
to vote for the election of the Board of Directors (the “Company Voting Securities”); provided, however,
that the event described in this paragraph (i) shall not be deemed to be a Change in Control by virtue of any of the following
acquisitions: (A) by the Company or any of its subsidiaries, (B) by any employee benefit plan sponsored or maintained by the Company
or any of its subsidiaries, (C) by any underwriter temporarily holding securities pursuant to an offering of such securities, or
(D) pursuant to a Non-Control Transaction (as defined in clause (ii) below); or

(ii)          the consummation of a merger,
consolidation, share exchange or similar form of corporate reorganization of the Company (or any such type of transaction involving
the Company or any of its subsidiaries that requires the approval of the Company’s stockholders, whether for the transaction
or the issuance of securities in the transaction or otherwise) (a “Business Combination”), unless immediately
following such Business Combination: (a) more than 60% of the total voting power of the corporation resulting from such Business
Combination (including, without limitation, any corporation which directly or indirectly has beneficial ownership of 100% of the
Company Voting Securities) eligible to elect directors of such corporation is represented by shares that were Company Voting Securities
immediately prior to such Business Combination (either by remaining outstanding or being converted), and such voting power is in
substantially 

    	4

    	 

    

the same proportion as the voting power of such Company Voting Securities immediately prior to the Business Combination,
(b) no person (other than any holding company resulting from such Business Combination, any employee benefit plan sponsored or
maintained by the Company (or the corporation resulting from such Business Combination)) immediately following the consummation
of the Business Combination becomes the beneficial owner, directly or indirectly, of 25% or more of the total voting power of the
outstanding voting securities eligible to elect directors of the corporation resulting from such Business Combination, and (c)
at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were Incumbent
Directors at the time of the approval of the execution of the initial agreement providing for such Business Combination (any Business
Combination which satisfies the conditions in clauses (a), (b) and (c) is referred to hereunder as a “Non-Control Transaction”).
Notwithstanding the foregoing, a Change in Control of the Company shall not be deemed to occur solely because any person acquires
beneficial ownership of more than 25% of the Company Voting Securities as a result of the acquisition of Company Voting Securities
by the Company which reduces the number of Company Voting Securities outstanding; provided, that if after such acquisition
by the Company such person becomes the beneficial owner of additional Company Voting Securities that increases the percentage of
outstanding Company Voting Securities beneficially owned by such person, a Change in Control of the Company shall then occur.

(b)          “Cause” means (i) the
willful and continued failure of Employee to perform substantially his duties with the Company (other than any such failure resulting
from Employee’s incapacity due to physical or mental illness or any such failure subsequent to Employee being delivered a
notice of termination without Cause by the Company or delivering a notice of termination for Good Reason to the Company) after
a written demand for substantial performance is delivered to Employee by the Board of Directors of the Company (the “Board”)
which specifically identifies the manner in which the Board believes that Employee has not substantially performed Employee’s
duties, or (ii) the willful engaging by Employee in illegal conduct or gross misconduct which is demonstrably and materially injurious
to the Company or its affiliates. 

    	5

    	 

    

For purpose of this paragraph (a), no act or failure to act by Employee shall be considered “willful”
unless done or omitted to be done by Employee in bad faith and without reasonable belief that Employee’s action or omission
was in the best interests of the Company or its affiliates. Any act, or failure to act, based upon authority given pursuant to
a resolution duly adopted by the Board, based upon the advice of counsel for the Company shall be conclusively presumed to be done,
or omitted to be done, by Employee in good faith and in the best interests of the Company. Cause shall not exist unless and until
the Company has delivered to Employee a copy of a resolution duly adopted by three−quarters (3/4) of the entire Board (excluding
Employee if Employee is a Board member) at a meeting of the Board called and held for such purpose (after reasonable notice to
Employee and an opportunity for Employee, together with counsel, to be heard before the Board), finding that in the good faith
opinion of the Board an event set forth in clauses (i) or (ii) has occurred and specifying the particulars thereof in detail.

(c)          “Good Reason” means,
without Employee’s express written consent, the occurrence of any of the following events after a Change in Control: (i)
(A) any change in the duties or responsibilities (including reporting responsibilities) of Employee that is inconsistent in any
material and adverse respect with Employee’s position(s), duties, responsibilities or status with the Company immediately
prior to such Change in Control (including any material and adverse diminution of such duties or responsibilities); 

    	6

    	 

    

provided, however,
that Good Reason shall not be deemed to occur upon a change in duties or responsibilities (other than reporting responsibilities)
that is solely and directly a result of the Company no longer being a publicly traded entity and does not involve any other event
set forth in this paragraph (b) or (B) a material and adverse change in Employee’s titles or offices with the Company as
in effect immediately prior to such Change in Control; (ii) a material reduction by the Company in Employee’s rate of annual
base salary or annual target bonus opportunity (including any material and adverse change in the formula for such annual bonus
target), as in effect immediately prior to such Change in Control or as the same may be increased from time to time thereafter;
(iii) any requirement of the Company that Employee (A) be based anywhere more than fifty (50) miles from the office where Employee
is located at the time of the Change in Control or (B) travel on Company business to an extent substantially greater than the travel
obligations of Employee immediately prior to such Change in Control; or (iv) the failure of the Company to continue in effect any
material employee benefit compensation welfare benefit or fringe benefit plan in which Employee is eligible to participate in immediately
prior to such Change in Control or the taking of any action by the Company which would materially adversely affect Employee’s
contribution level or ability to participate in or materially reduce Employee’s benefits under any such plan, unless Employee
is permitted to participate in other plans providing Employee with substantially equivalent benefits in the aggregate (at substantially
equivalent Employee contribution levels with respect to welfare benefit plans). An isolated, insubstantial and inadvertent action
taken in good faith and which is remedied by the Company within ten (10) days after receipt of notice thereof given by Employee
shall not constitute Good Reason. Employee’s right to terminate employment for Good Reason shall not be affected by Employee’s
incapacities due to mental or physical illness and Employee’s continued employment shall not constitute consent to, or a
waiver of rights with respect to, any event or condition constituting Good Reason; provided, however, that such event shall not
constitute Good Reason under this Agreement unless (i) Employee provides notice to the Company within the ninety (90) days following
the initial existence of an event constituting Good Reason, (ii) the Company does not remedy such event (if remediation is possible)
within thirty (30) days following the Company’s receipt of notice of such event, and (iii) Employee separates from service
with the Company within two (2) years following the initial existence of such an event constituting Good Reason.

    	7

    	 

    

5.          No Dividend Equivalents.
With respect to each Unit, if, prior to the Vesting Date, there occurs a distribution of any regular cash dividend paid by the
Company in respect of the Common Stock the record date for which occurs on or after the Vesting Date, the Employee shall not be
entitled to receive on the Vesting Date an amount in cash or stock equal to such regular dividend payment as would have been made
in respect of the shares of the Company’s Common Stock underlying the Unit not yet delivered.

6.          Withholding. The vesting
and payment of the Unit is conditioned on the Employee’s payment of the amount of the federal, state and local taxes, if
any, required to be withheld and paid by the Company as a result of such vesting and payment by check or, with the approval of
the Committee, by the Company’s retaining the number of shares of Common Stock, the Fair Market Value of which is equal to
the minimum amount required to be withheld, or, at the option of the Company, cash.

7.          Authority. The Committee
shall have final authority to interpret and construe this Agreement and to make all determinations thereunder, and its decisions
shall be final, binding and conclusive upon all persons, including the Employee and the Employee’s legal representative.

    	8

    	 

    

8.          Amendment. This Agreement
may not be amended in any manner, except by an instrument in writing signed by the parties hereto.

9.          Transferability. The Units
are not assignable or transferable, and no right or interest of the Employee shall be subject to any lien, obligation or liability
of the Employee, except by will or the laws of descent and distribution. Notwithstanding the immediately preceding sentence, the
Committee may, subject to the terms and conditions it may specify, permit the Employee to transfer the Unit to one or more of his
immediate family members (i.e., his spouse and issue, including adopted and step children) or to trusts established in whole or
in part for the benefit of the Employee and/or one or more of such immediate family members. During the lifetime of the Employee,
the Unit shall be payable only by the Employee or by the immediate family member or trust to whom such Unit has been transferred
pursuant to the immediately preceding sentence.

10.          No Rights of Employment.
This Agreement shall not be construed as giving the Employee any right to continue in the employ of the Company or any subsidiary
or limit in any way the rights of the Company, or any subsidiary, to terminate employment of the Employee at any time.

11.          Entire Agreement. The Plan
is incorporated herein by reference. This Agreement, the Plan and such other documents as may be executed in connection with the
payment of the Units constitute the entire agreement and understanding of the parties hereto with respect to the subject matter
hereof and supersede all prior understandings and agreements with respect to such subject matter.

    	9

    	 

    

12.          Governing Law. This Agreement
shall be governed by, and construed in accordance with, the laws of the State of New York without giving effect to any choice or
conflict of laws provisions hereof.

13.          Successors. This Agreement
shall be binding upon the Company and the Employee and their respective legal representatives, heirs, beneficiaries, successors
and assigns and upon all other persons claiming under or through any of them.

The parties hereto have executed this
Performance Share Unit Agreement effective as of the date first set forth above.

	 	CONMED CORPORATION
	 	 	 
	 	 	 
	 	By:	 
	 	 	Daniel S. Jonas – Executive Vice President
	     	 	Legal Affairs & General Counsel

 

 

	Attest:	 
	 	 
	 	 
	 	 
	Terence Berge - Treasurer, Assistant Corporate	 
	Controller	 

 

	 	Accepted and Agreed by:
	 	 
	 	By:	 
	 	 	Curt R. Hartman
	 	 	 

 

 

    	10

    	 

    

SCHEDULE I

TO

PERFORMANCE SHARE UNIT AGREEMENT

with

Curt R. Hartman

	Performance Period:	January 1, 2015 to December 31, 2019
	Number of Units Granted:	100,000 (the “Target Units”), up to 200,000 Units at maximum performance as set forth in Performance Measures.
	Performance Goal:	Company performance relative to the S&P 1500 Health Care Equipment Select Index (SPSIHE), with the Company’s total shareholder return (“TSR”) determined based on the period from the beginning through the end of the Performance Period (or applicable Vesting Date) using a 30-day trading average stock price prior to the beginning and end of the Performance Period (with dividends assumed to be re-invested at the ex-dividend date).
	
        Vesting Dates:

         
	Units will be earned based on the table set forth below, subject to the Employee’s continued employment through the following Vesting Dates (subject to Sections 2, 3 and 4 of the Agreement):
	Tranche	Units	Vesting Date
	I	20,000	December 31, 2017
	II	20,000	December 31, 2018
	III	100,000*	December 31, 2019
	 	 	(*less the number of Units earned at Target from Tranche I and II)

    	A-1

    	 

    

 

	Performance Measures:
	Relative Performance	Percentage of Target Units Earned
	+15.8% above index	200%
	+11.0% above index	150%
	+8.2% above index	125%
	+5.7% above index	100%
	+3.6% above index	75%
	+2.0% above index	50%
	Below +2.0% above index	0%

 

	Determination of Units

 Earned:	
        On each of the Tranche I and Tranche II Vesting Dates, the
        number of Target Units in the corresponding Tranche (20,000 Units) will be multiplied by the “Percentage of Target Units
        Earned” for the actual TSR achieved through the applicable Vesting Date to determine the number of Units earned for such
        Tranche on the Vesting Date.

        On the Tranche III Vesting Date, the number of Target Units
        earned (which may not be less than zero) will be determined as (1) the product of (x) 100% of the Target Units (100,000 Units)
        multiplied by (y) the “Percentage of Target Units Earned” for the actual TSR achieved through the Tranche III
        Vesting Date, less (2) the number of Units that paid out based on actual performance in respect of each of the Tranche I
        and Tranche II Vesting Dates in accordance with the preceding paragraph.

         

 

    	A-2

    	 

    

  

	Determination of Units

 Earned (Change in 

Control):	 	Percentage of Units Earned for a Change in 

Control (within the following periods after 

commencement of the Performance Period):
	 	Price at 

Change in 

Control Date	0-12

 months	13-24 

months	25-36 

months	37-48 

months	49-60 

months
	 	$60 or less	20%	40%	60%	80%	100%
	 	$60-$80	30%	40%	60%	80%	100%
	 	$80-$105	45%	50%	60%	80%	100%
	 	Above $105 	60%	60%	60%	80%	100%

 

 

	 	Upon a Change in Control, the number of Units earned (which may not be less than zero) will be determined as (1) the product of (x) 100% of the Target Units (100,000) multiplied by (y) the “Percentage of Target Units Earned” for the actual TSR achieved through the Change in Control date, multiplied by (z) the “Percentage of Units Earned for a Change in Control” for both the share price achieved upon the Change in Control date and the date of the Change in Control relative to the commencement of the Performance Period, less (2) the number of Units paid out based on actual performance in respect of each of the Tranche I and Tranche II Vesting Dates in accordance with the preceding section (such Units, the “Change in Control Units”).

 

    	A-3

    	 

    

	Vesting of Change in

 Control Units:	
        The Change in Control Units as determined above will vest
        as follows (subject to earlier vesting pursuant to Section 4 of the Agreement):

        If the Change in Control date occurs prior to the Tranche
        I Vesting Date, then the Change in Control Units will vest (subject to continued employment or earlier termination in accordance
        with Section 4 of the Agreement), 20% on each of December 31, 2017 and December 31, 2018 and 60% on December 31, 2019;

        If the Change in Control date occurs after the Tranche I
        Vesting Date and prior to the Tranche II Vesting Date, then 25% of the Change in Control Units will vest (subject to continued
        employment or earlier termination in accordance with Section 4 of the Agreement) on December 31, 2018 and 75% of the Change
        in Control Units will vest on December 31, 2019; and

        If the Change in Control date occurs after the Tranche II
        Vesting Date and prior to the Tranche III Vesting Date, then 100% of the Change in Control Units will vest (subject to continued
        employment or earlier termination in accordance with Section 4 of the Agreement) on December 31, 2019.
 
	Determination of Units

 Earned (Termination for 

Death or Disability/Non-

Change in Control):	Upon a termination of employment due to disability or death, in each case prior to (or more than two (2) years after) a Change in Control, the number of Units earned (which may not be less than zero) will be determined as (1) the product of (x) 100% of the Target Units (100,000) multiplied by (y) the “Percentage of Target Units Earned” for the actual TSR achieved through the date of such termination, less (2) the number of Units paid out based on actual performance in respect of each of the Tranche I and Tranche II Vesting Dates in accordance with the terms described above (prorated as set forth in Section 3 of the Agreement).

    	A-4

    	 

    

In each of the foregoing cases, the percentage of Target Units
earned will be interpolated (on a straight-line basis) for achievement of relative performance between the results in the table
above. Notwithstanding anything to the contrary, the maximum number of Units earned under this Agreement may not exceed 200% of
the aggregate number of Target Units.

    	A-5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00240-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00240-of-00352.parquet"}]]