Document:

EXHIBIT 10.6(c)

 

BRIGGS & STRATTON
CORPORATION AND SUBSIDIARIES

 

2005 Annual Report on Form 10-K

 

AMENDED FORM OF RESTRICTED
STOCK AWARD AGREEMENT UNDER THE

PREMIUM OPTION AND STOCK AWARD PROGRAM

 

Effective:  April 2005

 

 

BRIGGS &
STRATTON CORPORATION

RESTRICTED
STOCK AWARD AGREEMENT

 

THIS RESTRICTED STOCK AWARD AGREEMENT, dated
as of this ____ day of _______, 200_, is made by BRIGGS & STRATTON
CORPORATION (the “Company”) to ___________ (the “Employee”).

 

WHEREAS, the Company
believes it to be in the best interests of the Company and its shareholders to
provide an incentive for certain of its key employees to work for and manage
the affairs of the Company in such a way that its shares become more valuable;
and

 

WHEREAS,
the Employee is a key employee of the Company or one of its subsidiaries or
affiliates.

 

NOW, THEREFORE, in
consideration of the premises, the Company hereby awards Restricted Stock to
the Employee on the terms, conditions and restrictions hereinafter set forth.

 

1.                                       AWARD.  The Company hereby awards to the Employee
_____ shares of Restricted Stock on the date hereof (the “Award Date”).  Restricted Stock means shares of the common
stock of the Company, par value $0.01 per share, granted in accordance with
this Agreement and section 7 of the Company’s Incentive Compensation Plan.

 

2.                                       RESTRICTION.  The Restricted Stock shall be forfeitable as
described below until the shares become vested upon the first to occur, if any,
of the following events:

 

(a)                                  The termination of
the Employee’s employment with the Company or a subsidiary by reason of
disability or death.  For these purposes,
“disability” shall mean separation from the service of the Company or such
subsidiary because of such illness or injury as renders the Employee unable to
perform the material duties of the Employee’s job.

 

(b)                                 Five
(5) years from the Award Date.

 

(c)                                  A change in control
of the Company as defined in section 11(b) of the Company’s Incentive
Compensation Plan.

 

The period of time during which the Restricted Stock is forfeitable is
referred to as the “Restricted Period.” 
If the Employee’s employment with the Company or one of its subsidiaries
terminates during the Restricted Period for any reason other than retirement,
early retirement, disability or death, the Restricted Stock shall be forfeited
to the Company on the date of such termination, without any further obligations
of the Company to the Employee and all rights of the Employee with respect to
the Restricted Stock shall terminate. 
The Company may, in its sole discretion, choose to accelerate the
vesting of the Restricted Stock upon termination of the Employee’s employment
or

 

 

otherwise.  Notwithstanding any provisions to the
contrary, the Employee may not extend the Restricted Period.

 

3.                                       RIGHTS DURING RESTRICTED PERIOD.  During the Restricted Period, the Employee
shall have the right to vote the Restricted Stock and to receive cash
dividends, stock dividends and other distributions made with respect to the
Restricted Stock; however, all such stock dividends and other non-cash
distributions shall be forfeitable and subject to the same restrictions as
exist regarding the original shares of Restricted Stock.  The Restricted Stock may not be sold,
assigned, transferred, pledged or otherwise encumbered during the Restricted
Period, except by will or the laws of descent and distribution.

 

4.                                       CUSTODY.  The Restricted Stock may be credited to the
Employee in book entry form and held, along with any stock dividends relating
thereto, in custody by the Company or an agent for the Company until the
applicable restrictions have expired.  If
any certificates are issued for shares of Restricted Stock or any such stock
dividends during the Restricted Period, such certificates shall bear an appropriate
legend as determined by the Company referring to the applicable terms,
conditions and restrictions and the Employee shall deliver a signed, blank
stock power to the Company relating thereto. 
In no event will the issuance of shares occur later than two and
one-half months after the end of the fiscal year.

 

5.                                       TAX WITHHOLDING.  The Employee may satisfy any tax withholding
obligations arising with respect to the Restricted Stock in whole or in part by
tendering a check to the Company for any required amount, by election to have a
portion of the shares withheld to defray all or a portion of any applicable
taxes, or by election to have the Company or its subsidiaries withhold the
required amounts from other compensation payable to the Employee.

 

6.                                       IMPACT ON OTHER BENEFITS.  The value of the Restricted Stock awarded
hereunder, either on the Award Date or at the time such shares become vested,
shall not be includable as compensation or earnings for purposes of any other
benefit plan or program offered by the Company or its subsidiaries.

 

IN WITNESS WHEREOF,
this Restricted Stock Award Agreement is executed by the parties as of the date
set forth above.

 

	
   

  	
  BRIGGS & STRATTON CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  John S. Shiely

  
	
   

  	
   

  	
  Chairman, President and

  
	
   

  	
   

  	
  Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (Employee)EXHIBIT 10.6(d)

 

BRIGGS & STRATTON
CORPORATION AND SUBSIDIARIES

 

2005 Annual Report on Form 10-K

 

FORM OF DEFERRED STOCK
AWARD AGREEMENT UNDER THE

PREMIUM OPTION AND STOCK AWARD
PROGRAM

 

Effective:  April 2005

 

 

BRIGGS &
STRATTON CORPORATION

DEFERRED
STOCK AWARD AGREEMENT

 

THIS DEFERRED STOCK AWARD AGREEMENT, dated as
of this ____ day of _______, 200_, is made by BRIGGS & STRATTON
CORPORATION (the “Company”) to ___________ (the “Employee”).

 

WHEREAS, the Company
believes it to be in the best interests of the Company and its shareholders to
provide an incentive for certain of its key employees to work for and manage
the affairs of the Company in such a way that its shares become more valuable;
and

 

WHEREAS, the
Employee is a key employee of the Company or one of its subsidiaries or
affiliates.

 

NOW, THEREFORE, in
consideration of the premises, the Company hereby awards Deferred Stock to the
Employee on the terms, conditions and restrictions hereinafter set forth.

 

1.                                       AWARD.  The Company hereby awards to the Employee
_____ shares of Deferred Stock on the date hereof (the “Award Date”).  Deferred Stock means the right to receive in
the future common stock of the Company in accordance with this Agreement and section 8
of the Company’s Incentive Compensation Plan.

 

2.                                       DEFERRAL PERIOD.  The Deferred Stock shall be forfeitable as
described below until it becomes vested upon the first to occur, if any, of the
following events:

 

(a)                                  The termination of
the Employee’s employment with the Company or a subsidiary by reason of
disability or death.  For these purposes,
“disability” shall mean separation from the service of the Company or such
subsidiary because of such illness or injury as renders the Employee unable to
perform the material duties of the Employee’s job.

 

(b)                                 Five (5) years
from the Award Date.

 

(c)                                  A change in control
of the Company as defined in section 11(b) of the Company’s Incentive
Compensation Plan.

 

The period of time during which the Deferred Stock is forfeitable is
referred to as the “Deferral Period.”  If
the Employee’s employment with the Company or one of its subsidiaries or
affiliates terminates during the Deferral Period for any reason other than
retirement, early retirement, disability or death, the Deferred Stock shall be
forfeited to the Company on the date of such termination, without any further
obligations of the Company to the Employee and all rights of the Employee with
respect to the Deferred Stock shall terminate. 
The Company may, in its sole discretion, choose to accelerate the
vesting of the Deferred Stock upon termination of the Employee’s employment or

 

 

otherwise.  Notwithstanding any
provisions to the contrary, the Employee may not extend the Deferral Period.

 

3.                                       RIGHTS DURING DEFERRAL PERIOD.  During the Deferral Period, the Employee
shall not receive any certificate with respect to Deferred Stock and shall have
no right to vote the Deferred Stock or to receive cash dividends, stock
dividends and other distributions made with respect to the Deferred Stock;
however, amounts equal to any dividends or other distributions declared during
the Deferral Period with respect to the Deferred Stock will be awarded,
automatically deferred and deemed to be reinvested in additional Deferred
Stock.  The Deferred Stock may not be
sold, assigned, transferred, pledged or otherwise encumbered during the
Deferral Period, except by will or the laws of descent and distribution.

 

4.                                       BOOK ACCOUNTS AND SHARE CERTIFICATES.  The Deferred Stock, including the original
award and any additional shares attributable to cash dividends, stock dividends
or distributions relating to the Deferred Stock, shall be credited to a book
account for the Employee.  Upon
expiration of the Deferral Period, the Company shall issue and deliver to the
Employee certificates for shares of the Company’s common stock, par value $0.01
per share, equal to the total number of shares of Deferred Stock then credited
to the Employee, subject to Section 5 below.  In no event will the issuance of shares occur
later than two and one-half months after the end of the fiscal year.

 

5.                                       TAX WITHHOLDING.  The Employee may satisfy any tax withholding
obligations arising with respect to the Deferred Stock in whole or in part by
tendering a check to the Company for any required amount, by election to have a
portion of the shares withheld to defray all or a portion of any applicable
taxes, or by election to have the Company or its subsidiaries withhold the
required amounts from other compensation payable to the Employee.

 

6.                                       IMPACT ON OTHER BENEFITS.  The value of the Deferred Stock shall not be
includable as compensation or earnings for purposes of any other benefit plan
or program offered by the Company or its subsidiaries or affiliates.

 

IN WITNESS WHEREOF,
this Deferred Stock Award Agreement is executed by the parties as of the date
set forth above.

 

	
   

  	
  BRIGGS & STRATTON CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  John S. Shiely

  
	
   

  	
   

  	
  Chairman, President and

  
	
   

  	
   

  	
  Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (Employee)

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