SEC Contract Filing

Filing Date: 2018-05-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>tkr33118exhibit104.htm
<DESCRIPTION>EXHIBIT 10.4
<TEXT>
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<div><a name="s1F908256A0D553DB8AE00250B4061A78"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Exhibit 10.4</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:Times New Roman;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;padding-left:18px;text-indent:-2px;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;color:#181717;font-weight:bold;">THE TIMKEN COMPANY </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#181717;">&#160;</font></div><div style="line-height:120%;text-align:center;padding-left:1px;text-indent:0px;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;text-decoration:underline;">Deferred Shares Agreement</font><font style="font-family:Arial;font-size:12pt;font-weight:bold;">&#32;</font></div><div style="line-height:120%;padding-bottom:14px;text-align:justify;padding-left:48px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div><div style="line-height:120%;padding-bottom:15px;text-align:justify;text-indent:48px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">WHEREAS, ______ (&#8220;Grantee&#8221;) is an employee of The Timken Company (the &#8220;Company&#8221;) or a Subsidiary; and </font></div><div style="line-height:120%;padding-bottom:15px;text-align:justify;text-indent:48px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">WHEREAS, the Company hereby grants the Deferred Shares, evidenced by this Deferred Shares Agreement (this &#8220;Agreement&#8221;), to Grantee, effective as of </font><font style="font-family:Arial;font-size:9pt;font-weight:bold;">_______</font><font style="font-family:Arial;font-size:9pt;">,</font><font style="font-family:Arial;font-size:9pt;font-weight:bold;">&#32;</font><font style="font-family:Arial;font-size:9pt;">20__ (the &#8220;Date of Grant&#8221;). </font></div><div style="line-height:120%;padding-bottom:17px;text-align:justify;text-indent:48px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#32;NOW, THEREFORE, pursuant to the Company&#8217;s 2011 Long-Term Incentive Plan, as amended and restated as of February 13, 2015 (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 the right to receive (i) ____</font><font style="font-family:Arial;font-size:9pt;font-weight:bold;">&#32;</font><font style="font-family:Arial;font-size:9pt;">Common Shares and (ii) dividend equivalents payable in cash on a deferred basis (the &#8220;Deferred Cash Dividends&#8221;) with respect to the Common Shares covered by this Agreement. 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><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:9pt;padding-left:0px;"><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;">Three-Year Vesting of Awards</font><font style="font-family:Arial;font-size:9pt;">. </font></div></td></tr></table><div style="line-height:120%;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:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:9pt;padding-left:48px;"><font style="font-family:Arial;font-size:9pt;">(a)</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;">Normal Vesting</font><font style="font-family:Arial;font-size:9pt;">: Subject to the terms and conditions of Sections 2 and 3 hereof, </font></div></td></tr></table><div style="line-height:120%;padding-bottom:15px;text-align:justify;padding-left:96px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Grantee&#8217;s right to receive the Common Shares covered by this Agreement and any Deferred Cash Dividends accumulated with respect thereto shall become nonforfeitable on the third anniversary of the Date of Grant if Grantee has been in the continuous employ of the Company or a Subsidiary from the Date of Grant until the date of said third anniversary. </font></div><div style="line-height:120%;padding-bottom:0px;text-align:justify;padding-left:96px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">For purposes of this Agreement, Grantee&#8217;s continuous employment with the </font></div><div style="line-height:120%;padding-bottom:17px;text-align:justify;padding-left:96px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Company or a Subsidiary shall not be deemed to have been interrupted, and Grantee shall not be deemed to have ceased to be an employee of the Company