SEC Contract Filing

Filing Date: 2022-08-25

Document Content:
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<TYPE>EX-10.2
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<FILENAME>d394488dex102.htm
<DESCRIPTION>EX-10.2
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<TITLE>EX-10.2</TITLE>
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<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 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMERISAFE, INC. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2022
EQUITY AND INCENTIVE COMPENSATION PLAN </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RESTRICTED SHARE UNITS AWARD AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS RESTRICTED SHARE UNITS AWARD AGREEMENT (this &#147;Agreement&#148;), dated as of ____________, 20__, is entered into by and between
AMERISAFE, Inc., a Texas corporation (the &#147;Company&#148;), and ____________ (the &#147;Grantee&#148;). Where the context permits, references to the Company shall include any successor to the Company. Any capitalized term that is used, but not
defined, in this Agreement shall have the meaning assigned to such term in the AMERISAFE, Inc. 2022 Equity and Incentive Compensation Plan (as amended from time to time, the &#147;Plan&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Grant of RSUs</U>. The Company has granted to the Grantee, effective as of ________, 20__ (the &#147;Grant Date&#148;), _____ Restricted
Share Units, subject to all of the terms and conditions of this Agreement (the &#147;RSUs&#148;). Each RSU shall represent the right of the Grantee to receive one Common Share, subject to the terms and conditions set forth in this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>Restrictions on Transfer</U>. Subject to Section&nbsp;16 of the Plan, neither the RSUs evidenced hereby nor any interest therein or in
the Common Shares underlying such RSUs shall be transferable prior to payment to the Grantee pursuant to Section&nbsp;4 hereof other than by will or pursuant to the laws of descent and distribution. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <U>Vesting of RSUs</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Normal Vesting. Subject to the terms of Sections 3(b) and 3(c), all of the RSUs shall become nonforfeitable<I>
</I>(&#147;Vested,&#148; or similar terms) on ____________, 20__ (the &#147;Normal Vesting Date&#148;), provided that the Grantee remains employed by the Company or a Subsidiary through the Normal Vesting Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Accelerated Vesting. Notwithstanding anything set forth in Section&nbsp;3(a) to the contrary, if the Grantee dies or
becomes Disabled prior to the Normal Vesting Date, then the following percentage of the RSUs (rounded to the nearest whole RSU) shall become Vested as of the date of such death or Disability (the &#147;Applicable Termination Percentage&#148;): </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" WIDTH="8%"></TD>
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<TD VALIGN="bottom"><B>Date of Termination</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><B>Applicable<BR>Percentage</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>

<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Within six months following the Grant Date</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">After six months following the Grant Date but within 18 months following the Grant Date</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">33&nbsp;1/3</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">After 18 months following the Grant Date but within 30 months following the Grant Date</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">66&nbsp;2/3</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">After 30 months following the Grant Date</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nb