SEC Contract Filing

Filing Date: 2018-12-21

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>d675344dex101.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SHILOH INDUSTRIES, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CHANGE IN CONTROL SEVERANCE PLAN </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Board of Directors of Shiloh Industries, Inc. (the &#147;<U>Board</U>&#148;) considers the maintenance of a sound management to be
essential to protecting and enhancing the best interests of Shiloh Industries, Inc. (the &#147;<U>Company</U>&#148;) and its stockholders, including maximizing the value of the Company upon a Change in Control (as defined in <U>ARTICLE I</U> below).
In this regard, the Board recognizes that the possibility of a Change in Control may exist from time to time, and that this possibility, and the personal uncertainties and risks created by a potential Change in Control, may result in the departure
or distraction of the Company&#146;s management personnel to the detriment of the Company and its stockholders. Accordingly, the Board has determined that appropriate steps be taken to encourage the present and future continuity, objectivity, and
dedication of the Company&#146;s management personnel to their assigned duties without the distraction which may arise from the possibility of a Change in Control. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE I </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DEFINITIONS
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Capitalized terms used but not otherwise defined herein have the meanings set forth in this <U>ARTICLE I</U> (including the table
listed immediately prior to <U>ARTICLE II</U>). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Administrator</U>&#148; means the Compensation Committee or any subcommittee
thereof duly authorized by the Compensation Committee and/or the Board to administer the Plan. The Board may at any time administer the Plan, in whole or in part, notwithstanding that the Board has previously appointed a committee to act as the
Administrator. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Affiliate</U>&#148; means any corporation, partnership, joint venture or other entity, directly or indirectly,
through one or more intermediaries, controlling, controlled by, or under common control with the Company or the Successor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Severance Multiplier</U>&#148; means the multiplier contained in a Participant&#146;s Participation Agreement that is used
to determine the amount of severance the Participant may receive if a Qualifying Termination occurs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Benefit Continuation
Period</U>&#148; means the earliest of: (a)&nbsp;the end of the time period specified in a Participant&#146;s Participation Agreement during which the Participant may receive COBRA continuation coverage pursuant to
<U>Section</U><U></U><U>&nbsp;3.01(c)</U> following a Qualifying Termination (which, if designated as such in the Participation Agreement, may be zero (0)&nbsp;days); (b) the date on which the Participant becomes eligible to receive substantially
similar coverage from another employer; and (c)&nbsp;the date the Participant is no longer eligible to receive COBRA continuation coverage pursuant to <U>Section</U><U></U><U>&nbsp;3.01(c)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Business Combination</U>&#148; means the consummation of a reorganization, merger, statutory share exchange or consolidation or
similar transaction involving the Company or sale or other disposition of all or substantially all of the assets of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Cause</U>&#148; means, except as otherwise prescribed in the Participation Agreement of a Participant, any of the following: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

</DIV></Center>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;a material breach by the Participant of any agreement then in
effect between the Participant, on one hand, and the Company or the Successor or any of their respective Affiliates, on the other hand; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;the Participant&#146;s conviction of or plea of &#147;guilty&#148; or &#147;no contest&#148; to a felony under the
laws of the United States or any state thereof; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font