SEC Contract Filing

Filing Date: 2023-02-24

Document Content:
<DOCUMENT>
<TYPE>EX-10.28
<SEQUENCE>5
<FILENAME>exhibit1028-psuawardtsrx20.htm
<DESCRIPTION>EX-10.28
<TEXT>
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<title>Document</title></head><body><div id="i58702717b957475988434ce574cfa53b_1"></div><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">REGAL REXNORD CORPORATION &#8211; 2018 EQUITY INCENTIVE PLAN</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">PERFORMANCE SHARE UNIT AWARD &#8211; TSR Based</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#91;Name&#93;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#91;Address&#93;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Dear _____________________&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">You have been granted an award of Performance Share Units (an &#8220;Award&#8221;) under the Regal Rexnord Corporation 2018 Equity Incentive Plan (the &#8220;Plan&#8221;) with the following terms and conditions&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:144pt;text-align:justify;text-indent:-144pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Grant Date&#58;&#160;&#160;&#160;&#160;____________</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Number of Performance Target PSUs&#58; _________</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Share Units (&#8220;PSUs&#8221;)&#58; Maximum PSUs&#58; 2x Target</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:144pt;text-align:justify;text-indent:-144pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Performance Period&#58; Fiscal Years 2023-2025</font></div><div><font><br></font></div><div style="padding-left:144pt;text-align:justify;text-indent:-144pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Performance Vesting for PSUs&#58;&#160;&#160;&#160;&#160;The performance metric that will determine the number of PSUs you earn will be the Company&#8217;s total shareholder return (&#8220;TSR&#8221;) over the performance period specified above relative to the Company&#8217;s designated peer group as set forth and modified from time to time by the Plan Administrator (the &#8220;Peer Group&#8221;). TSR will be calculated using the &#91;comparatively determined&#93; trading prices over equivalent measurement periods or points in time, both on or prior to the first day of the Performance Period and ending on or prior to the last day of the Performance Period.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:144pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">The number of PSUs earned will be as follows&#58;</font></div><div style="padding-left:144pt;text-align:justify"><font><br></font></div><div style="padding-left:144pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">TSR at 25th Percentile of the Peer Group &#61; Zero PSUs </font></div><div style="padding-left:144pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">TSR at 50th Percentile of the Peer Group &#61; Target PSUs</font></div><div style="padding-left:144pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">TSR at 75th Percentile of the Peer Group &#61; Maximum PSUs</font></div><div style="padding-left:144pt;text-align:justify"><font><br></font></div><div style="padding-left:144pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">The number of PSUs earned will be interpolated between (i) zero and Target PSUs for performance between the 25th Percentile of the Peer Group and the 50th Percentile of the Peer Group, or (ii) Target PSUs and Maximum PSUs for performance between the 50th Percentile of the Peer Group and the 75th Percentile of the Peer Group. Any PSUs that are earned based on performance will be earned on the date that the Administrator certifies the achievement of the applicable level of relative TSR. Any PSUs that are not earned on such date shall be forfeited.</font></div><div style="padding-left:144pt;text-align:justify"><font><br></font></div><div style="padding-left:144pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">If your employment with the Company and its Affiliates terminates due to Reti