SEC Contract Filing

Filing Date: 2019-05-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.34
<SEQUENCE>35
<FILENAME>tkr33119exhibit1034.htm
<DESCRIPTION>EXHIBIT 10.34
<TEXT>
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<div><a name="s148848173152476a9209c4b4953363dd"></a></div><div><div style="line-height:120%;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">NEW MEMBER</font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Exhibit 10.34</font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div><div style="line-height:120%;padding-top:5px;text-align:center;padding-left:222px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;">THE TIMKEN COMPANY</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div><div style="line-height:120%;text-align:center;padding-left:69px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;">Time-Based Restricted Stock Unit Agreement for Nonemployee Directors</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div><div style="line-height:120%;padding-top:0px;text-align:justify;padding-left:6px;text-indent:48px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">WHEREAS,</font><font style="font-family:Arial;font-size:9pt;">&#32;</font><font style="font-family:Arial;font-size:9pt;text-decoration:underline;">______________________________</font><font style="font-family:Arial;font-size:9pt;">(&#8220;Grantee&#8221;) is a nonemployee director of The Timken Company (the &#8220;Company&#8221;); and</font></div><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div><div style="line-height:120%;padding-top:0px;text-align:justify;padding-left:6px;text-indent:48px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">WHEREAS, the Company granted the Restricted Stock Units evidenced by this Time- Based Restricted Stock Unit Agreement (this &#8220;Agreement&#8221;) effective as of_____, 20_____(the &#8220;Date of Grant&#8221;).</font></div><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:6px;text-indent:46px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">NOW, THEREFORE, pursuant to The Timken Company 2019 Equity and Incentive Compensation Plan (the &#8220;Plan&#8221;) and subject to the terms and conditions thereof, in addition to the terms and conditions of this Agreement, the Company confirms to Grantee the grant of ________&#160;&#160;&#160;&#160;Restricted Stock Units (the &#8220;RSUs&#8221;). All terms used in this Agreement with initial capital letters that are defined in the Plan and not otherwise defined herein shall have the meanings assigned to them in the Plan.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:56px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:9pt;padding-left:8px;"><font style="font-family:Arial;font-size:9pt;">1.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;text-decoration:underline;">Payment of RSUs</font><font style="font-family:Arial;font-size:9pt;">. The RSUs will become payable if the Restriction Period lapses and Grantee&#8217;s right to receive payment for the RSUs becomes nonforfeitable (&#8220;Vest,&#8221; &#8220;Vesting&#8221; or &#8220;Vested&#8221;) in accordance with Section 3 and Section 4 of this Agreement.</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:56px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:9pt;padding-left:8px;"><font style="font-family:Arial;font-size:9pt;">2.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;text-decoration:underline;">RSUs Not Transferrable</font><font style="font-family:Arial;font-size:9pt;">. None of the RSUs nor any interest therein or in any Common Shares underlying such RSUs will be transferable other than by will or the laws of descent and distribution prior to payment.</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:56px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:9pt;padding-left:8px;"><font style="font-family:Arial;font-size:9pt;">3.</fo