Document:

Exhibit 10.6(a)

 

BRIGGS &
STRATTON CORPORATION

 

FORM 10-Q for
Quarterly Period Ended April 2, 2006

 

AMENDED AND
RESTATED

FORM OF STOCK
OPTION AGREEMENT UNDER THE

PREMIUM OPTION AND
STOCK AWARD PROGRAM

 

Effective April
19, 2006

 

 

[Date]

 

[Name]

 

You have been awarded a
stock option, restricted stock and/or deferred stock under the Briggs &
Stratton Corporation Premium Option and Stock Award Program (“Program”) as
follows:

 

	
  Stock Option:

  	
   

  	
   

  
	
  Type
  of Option:

  	
   

  	
  Premium Stock Option

  
	
  Date
  of Grant:

  	
   

  	
  [Date]

  
	
  Exercise
  Price:

  	
   

  	
  $[110% of Fair Market
  Value on grant date]

  
	
  Number of Shares:

  	
   

  	
  [Number] shares - Incentive stock option under IRC
  Sec. 422

  
	
   

  	
   

  	
  [Number] shares -
  Non-qualified stock options

  
	
  Exercise
  Period:

  	
   

  	
  [Date] to [Date]

  
	
   

  	
   

  	
   

  
	
  Restricted Stock:

  	
   

  	
   

  
	
  Date
  of Grant:

  	
   

  	
  [Date]

  
	
  Number
  of Shares:

  	
   

  	
   

  
	
  Vesting
  Date:

  	
   

  	
  [Date]

  
	
   

  	
   

  	
   

  
	
  Deferred Stock:

  	
   

  	
   

  
	
  Date
  of Grant

  	
   

  	
  [Date]

  
	
  Number
  of Shares:

  	
   

  	
   

  
	
  Vesting
  Date:

  	
   

  	
  [Date]

  

 

These stock awards are
subject to the terms and conditions of the Program. In addition, stock options
are subject to the Stock Option Agreement, restricted stock is subject to the
Restricted Stock Award Agreement, and deferred stock is subject to the Deferred
Stock Award Agreement.

 

Please acknowledge your
acceptance of the terms of these awards by signing two copies of each of the
attached agreements and returning one signed copy of each to the company’s
Secretary.

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  BRIGGS & STRATTON
  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  John S. Shiely

  
	
   

  	
   

  	
  Chairman, President and

  
	
   

  	
   

  	
  Chief Executive Officer

  

 

 

BRIGGS
& STRATTON CORPORATION

INCENTIVE
COMPENSATION PLAN

STOCK
OPTION AGREEMENT

 

	
  Optionee:

  	
   

  	
  [Name]

  
	
  No. of Shares:

  	
   

  	
  [Number]

  
	
  Date of Grant:

  	
   

  	
  [Date]

  
	
  Expiration Date:

  	
   

  	
  [Date]

  
	
  Exercise Price:

  	
   

  	
  $[110% of Fair Market
  Value on grant date]

  

 

BRIGGS & STRATTON CORPORATION
(the “Company”), a Wisconsin corporation, hereby grants to the above-named
employee (the “Optionee”) under The Briggs & Stratton Corporation Stock
Incentive Plan as amended and restated in the Incentive Compensation Plan (the “Plan”)
a stock option to purchase from the Company during the period commencing
(except as otherwise provided herein) on [Date] and ending (except as otherwise
provided herein) on the expiration date set forth above (the “option term”) up
to but not exceeding in the aggregate the number of shares set forth above of
the Common Stock, $0.01 par value, of the Company (“Common Stock”) at the price
per share set forth above, all in accordance with and subject to the following
terms and conditions:

 

1.                                       No
shares subject to this option may be purchased before [Date]. On such date and
from time to time thereafter, the shares subject to this option may be
purchased during the option term. If the Optionee’s employment is terminated
for any reason prior to [Date], then, unless otherwise determined by (or
pursuant to authority granted by) the Compensation Committee (the “Committee”)
of the Board of Directors of the Company, this option shall not be exercisable.

 

2.                                       If
the effective date of retirement of the Optionee is before [Date], the Optionee
may make application (at least one month prior to retirement) to the Committee
for this option to become exercisable on such effective date. Such application
may be denied or granted in whole or in part.

 

 

The following additional
provisions shall apply with respect to the exercise of the option following
termination of employment:  (i) In the
event that the Optionee’s employment shall be terminated by reason of death
before the option is exercisable, the option may thereafter be exercised for a
period of one year from the date of death. (ii) In the event that the Optionee’s
employment shall be terminated by reason of Disability or Retirement, the
option shall remain in effect in accordance with its terms, except that (x) the
Committee may accelerate the date on which the option may first be exercised,
(y) if the Optionee dies within three years of such termination of employment,
the unexercised portion of any remaining option shall be exercisable
immediately for a period of one year from the date of death of the Optionee,
and (z) in no event may any option be exercised more than three years after the
date of termination of employment or the expiration of the original option
term, whichever period is shorter. (iii) In the event that an Optionee’s employment
is terminated for any other reason, no shares may be purchased after the date
of termination of employment; except that the option, to the extent then
exercisable, may be exercised for the balance of the option term. However,
nothing in (i), (ii) or (iii) above shall permit the purchase of any shares
after the expiration date set forth above. The Optionee’s employment shall be
deemed to be terminated when he or she is no longer employed by (i) the
Company, a subsidiary or an affiliate thereof, or (ii) a corporation, or a
parent or subsidiary thereof, substituting a new option for the option granted
by this Agreement (or assuming the option granted by this Agreement) by reason
of a merger, consolidation, acquisition of property or stock, separation,
reorganization or liquidation. Leaves of absence shall not constitute
termination of employment.

 

Notwithstanding anything
in the foregoing to the contrary, to the extent permitted under Section 422 of
the Code, if the Optionee’s employment is terminated by reason of death,
Disability or Retirement and the portion of this option that is otherwise
exercisable during the post-termination period as provided above and as
specified under Sections 5(f), (g) or (h) of the Plan, applied without regard
to Section 5(j) of the Plan, is greater than the portion that is exercisable as
an incentive stock option during such post-termination period under Section
422, such post-termination period shall automatically be extended (but not
beyond the original option term) to the extent necessary to permit the Optionee
to exercise this option either as an incentive stock option or, if exercised
after 

 

 

the expiration periods that apply for purposes of Section 422, as a
non-qualified stock option.

 

3.                                       Exercise
of this option shall occur on the date (the “Date of Exercise”) the Company
receives at its principal executive offices (i) a written notice (the “Notice
of Exercise”) specifying the number of shares to be purchased, and (ii) payment
by certified check, cashier’s check or confirmation of a wire transfer for the
purchase price for such shares. In lieu of such payment by certified check,
cashier’s check or wire transfer, the Optionee may tender to the Company (i)
outstanding shares of Common Stock, having a Fair Market Value, determined on
the Date of Exercise, equal to the purchase price for the number of shares
being purchased, or (ii) a combination of shares of outstanding Common Stock,
as described above, so valued and payment as aforesaid which equals said
purchase price, together, in each case, with payment of any applicable stock
transfer tax. If the Fair Market Value, as so determined, of the shares
tendered to the Company shall exceed the purchase price applicable to the
number of shares being purchased, an appropriate cash adjustment will be made
by the Company for any fractional share remaining. The Company will not deliver
shares of Common Stock being purchased upon any exercise of this option unless
it has received an acceptable form of payment for all applicable withholding
taxes or arrangements satisfactory to the Company for the payment thereof have
been made. Withholding taxes may be paid with outstanding shares of Common
Stock (including Common Stock delivered upon exercise of this option), such
Common Stock being valued at Fair Market Value on Date of Exercise. The
Optionee shall have no rights as a stockholder with respect to any shares
covered by this option until the date of the issuance of a stock certificate
for such shares.

 

4.                                       This
option is not transferable by the Optionee otherwise than by will or the laws
of descent and distribution and is exercisable during the Optionee’s lifetime
only by the Optionee or by the guardian or legal representative of the
Optionee.

 

5.                                       The
terms and provisions of this Agreement (including, without limiting the
generality of the foregoing, terms and provisions relating to the option price
and the number and class of shares subject to this option) shall be subject to
appropriate adjustment in the event of any recapitalization, merger,
consolidation, disposition of 

 

 

property or stock, separation, reorganization, stock dividend, issuance
of rights, combination or split-up or exchange of shares, or the like.

 

6.                                       Whenever
the word “Optionee” is used herein under circumstances such that the provision
should logically be construed to apply to the executors, the administrators, or
the person or persons to whom this option may be transferred by will or by the
laws of descent and distribution, it shall be deemed to include such person or
persons.

 

7.                                       The
terms and provisions of the Plan (a copy of which will be furnished to the
Optionee upon written request to the Briggs & Stratton Corporation, 12301
West Wirth Street, Wauwatosa, Wisconsin 53222) are incorporated herein by
reference. To the extent any provision of this Agreement is inconsistent or in
conflict with any term or provision of the Plan, the Plan shall govern. Capitalized
terms not otherwise defined herein have the meaning set forth in the Plan.

 

IN WITNESS WHEREOF, this
Incentive Stock Option Agreement has been duly executed as of [Date].

 

 

	
   

  	
   

  	
  BRIGGS & STRATTON
  CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  John
  S. Shiely

  
	
   

  	
   

  	
   

  	
  Chairman,
  President and

  
	
   

  	
   

  	
   

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  [Optionee Name]Exhibit 10.12(a)

 

BRIGGS & STRATTON CORPORATION

 

FORM 10-Q for Quarterly Period Ended April 2, 2006

 

AMENDED AND RESTATED

FORM OF DIRECTOR’S STOCK OPTION AGREEMENT
UNDER THE

DIRECTOR’S PREMIUM OPTION AND STOCK GRANT
PROGRAM

 

Effective April 19, 2006

 

 

[Date]

 

[Name]

 

You have been granted a nonqualified stock option on 4,000 shares of
company stock under the Briggs & Stratton Corporation Director’s Premium
Option and Stock Grant Program as follows:

 

	
  Type of Option:

  	
   

  	
  Premium Stock Option

  
	
  Date of Grant:

  	
   

  	
  [Date]

  
	
  Exercise Price:

  	
   

  	
  [110% of Fair Market Value on grant date]

  
	
  Exercise Period:

  	
   

  	
  [Date] to [Date]

  

 

 

This option is subject to the terms and conditions of the Director’s
Program and the attached Stock Option Agreement. This option is not
transferable during your life, and must be exercised within specified time
limits.

 

Please acknowledge your acceptance of the terms of this grant by
signing two copies of the attached Agreement and returning one signed copy in
the attached envelope.

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  BRIGGS & STRATTON CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  John S. Shiely

  
	
   

  	
   

  	
  Chairman, President

  
	
   

  	
   

  	
  and Chief Executive Officer

  

 

 

BRIGGS & STRATTON CORPORATION

DIRECTOR’S STOCK OPTION AGREEMENT

 

	
  Optionee:

  	
   

  	
  [Name]

  
	
  No. of Shares:

  	
   

  	
  4,000

  
	
  Date of Grant:

  	
   

  	
  [Date]

  
	
  Expiration Date:

  	
   

  	
  [Date]

  
	
  Exercise Price:

  	
   

  	
  $[110% of Fair Market Value on grant date]

  

 

BRIGGS & STRATTON CORPORATION (the “Company”), a Wisconsin
corporation, hereby grants to the above-named director (the “Optionee”) under
the Briggs & Stratton Corporation Director’s Premium Option and Stock Grant
Program (the “Program”) a stock option to purchase from the Company during the
period commencing (except as otherwise provided herein) on [Date] and ending
(except as otherwise provided herein) on the expiration date set forth above
(the “option term”) up to but not exceeding in the aggregate the number of
shares set forth above of the Common Stock, $0.01 par value, of the Company (“Common
Stock”) at the price per share set forth above, all in accordance with and
subject to the following terms and conditions:

 

1.                                       No
shares subject to this option may be purchased before [Date]. On such date and
from time to time thereafter, the shares subject to this option may be
purchased during the option term. If the Optionee’s service as a director is
terminated for any reason prior to [Date], then, unless otherwise determined by
(or pursuant to authority granted by) the Board of Directors of the Company
(the “Board”), this option shall not be exercisable.

 

2.                                       If
the Optionee’s service as a director terminates by reason of death before the
option becomes exercisable, this option may be exercised for a period of one
year from the date of death. If the Optionee’s service as a director terminates
by reason of death after the option becomes exercisable, this option may be
exercised until the expiration of the option.

 

 

If the Optionee’s service as a director terminates due to reaching the
mandatory retirement age or due to retirement upon reaching the end of the term
for which elected, the option shall remain in effect in accordance with its
terms, except that (x) the Board may accelerate the date on which the option
may first be exercised, (y) if the Optionee dies within three years of such
termination of service, the unexercised portion of any remaining option shall
be exercisable immediately for a period of one year from the date of death of
the Optionee, and (z) in no event may any option be exercised more than three
years from the date of termination of service or the expiration of the original
option term, whichever period is shorter.

 

If the Optionee’s service as a director terminates for any reason other
than death or retirement as described above, the option shall thereupon
terminate, except that the option, to the extent then exercisable, may be
exercised for the balance of the option term. Notwithstanding the foregoing, if
Optionee’s service as a director terminates at or after a Change in Control (as
defined in the Incentive Compensation Plan), other than by death or retirement
(as described above), this option shall be exercisable for the lesser of (x)
six months and one day, and (y) the balance of the option term.

 

3.                                       Exercise
of this option shall occur on the date (the “Date of Exercise”) the Company
receives at its principal executive offices (i) a written notice (the “Notice
of Exercise”) specifying the number of shares to be purchased, and (ii) payment
by certified check, cashier’s check or confirmation of a wire transfer for the
purchase price for such shares. In lieu of such payment by certified check,
cashier’s check or wire transfer, the Optionee may tender to the Company (i)
outstanding shares of Common Stock, having a Fair Market Value, determined on
the Date of Exercise, equal to the purchase price for the number of shares
being purchased, or (ii) a combination of shares of outstanding Common Stock,
as described above, so valued and payment as aforesaid which equals said
purchase price, together, in each case, with payment of any applicable stock
transfer tax. If the Fair Market Value, as so determined, of the shares
tendered to the Company shall exceed the purchase price applicable to the
number of shares being purchased, an appropriate cash adjustment will be made
by the Company for any fractional share 

 

 

remaining. The Company will not
deliver shares of Common Stock being purchased upon any exercise of this option
unless it has received an acceptable form of payment for all applicable
withholding taxes or arrangements satisfactory to the Company for the payment
thereof have been made. Withholding taxes may be paid with outstanding shares
of Common Stock (including Common Stock delivered upon exercise of this
option), such Common Stock being valued at Fair Market Value on Date of
Exercise. The Optionee shall have no rights as a shareholder with respect to
any shares covered by this option until the date of the issuance of a stock
certificate for such shares.

 

4.                                       This
option is not transferable by the Optionee otherwise than by will or the laws
of descent and distribution and is exercisable during the Optionee’s lifetime
only by the Optionee or by the guardian or legal representative of the
Optionee.

 

5.                                       The
terms and provisions of this Agreement (including, without limiting the
generality of the foregoing, terms and provisions relating to the option price
and the number and class of shares subject to this option) shall be subject to
appropriate adjustment in the event of any recapitalization, merger,
consolidation, disposition or property or stock, separation, reorganization,
stock dividend, issuance of rights, combination or split-up or exchange of
shares, or the like.

 

6.                                       Whenever
the word “Optionee” is used herein under circumstances such that the provision
should logically be construed to apply to the executors, the administrators, or
the person or persons to whom this option may be transferred by will or by the
laws of descent and distribution, it shall be deemed to include such person or
persons.

 

7.                                       The
terms and provisions of the Plan (a copy of which will be furnished to the
Optionee upon written request to Briggs & Stratton Corporation, 12301 West
Wirth Street, Wauwatosa, Wisconsin 53222) are incorporated herein by reference.
To the extent any provision of this Agreement is inconsistent or in conflict
with any term or 

 

 

provision of the Plan, the Plan
shall govern. Capitalized terms not otherwise defined herein have the meaning
set forth in the Plan.

 

IN WITNESS WHEREOF, this Stock Option Agreement has been duly executed
as of [Date].

 

 

	
   

  	
  BRIGGS & STRATTON CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
   

  	
  John S. Shiely

  
	
   

  	
   

  	
  Chairman, President and

  
	
   

  	
   

  	
  Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Optionee:  [Name]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}]]