SEC Contract Filing

Filing Date: 2018-10-26

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>ex_126501.htm
<DESCRIPTION>EXHIBIT 10.5
<TEXT>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:right;text-transform:uppercase;"><b>EXHIBIT 10.5</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;text-transform:uppercase;"><b>PERFORMANCE UNIT AGREEMENT</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>BIO-TECHNE CORPORATION</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SECOND </b><b>AMENDED AND RESTATED</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>2010 EQUITY INCENTIVE PLAN</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">THIS AGREEMENT is made effective as of [&#9679;], by and between Bio-Techne Corporation, a Minnesota corporation (the &ldquo;Company&rdquo;), and [&#9679;] (&ldquo;Participant&rdquo;).</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;text-indent:0pt;"><b>W I T N E S S E T H:</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">WHEREAS, Participant on the date hereof is a key employee, officer, director of or consultant or advisor to the Company or one of its Subsidiaries; and</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">WHEREAS, the Company wishes to grant a performance unit award to Participant pursuant to the Bio-Techne Corporation Second Amended and Restated 2010 Equity Incentive Plan (the &ldquo;Plan&rdquo;); and</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">WHEREAS, the Administrator of the Plan has authorized the grant of a performance unit to Participant;</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">NOW, THEREFORE, in consideration of the premises and of the mutual covenants herein contained, the parties hereto agree as follows:</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">1.&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; <u>Grant of </u><u>Performance</u><u> Unit Award; Term</u>. The Company hereby grants to Participant on the date set forth above a performance unit (the &ldquo;Award&rdquo;) for [&#9679;] dollars ($[&#9679;]), on the terms and conditions set forth herein.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">2.&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; <u>Vesting of </u><u>Performance Unit</u>.</p>

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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify; text-indent: 63pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>General</u>.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><i><b>Time-Based Awards: </b></i>[The Award shall vest on the following dates (the &ldquo;Vesting Dates&rdquo;), provided that Participant remains employed by the Company on the applicable Vesting Date as set forth in Section 2(b) of this Agreement:</p>

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 <td style="width: 65%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><u><b>Date</b></u></td>
 <td style="width: 35%; text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><u><b>Performance Unit</b></u><u><b> Vesting</b></u></td>
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