SEC Contract Filing

Filing Date: 2018-05-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.5.6
<SEQUENCE>5
<FILENAME>strl_033118xexhibit1056.htm
<DESCRIPTION>EXHIBIT 10.5.6
<TEXT>
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<div><a name="s5bd61dd566394207abb7cb1307ff319b"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:6px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:6px;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">STERLING CONSTRUCTION COMPANY, INC</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:6px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">2018 Long-Term Incentive Award Agreement</font></div><div style="line-height:120%;padding-bottom:6px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Long-Term Incentive Award Agreement (this "</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Agreement</font><font style="font-family:inherit;font-size:12pt;">") is made effective as of January 1, 2018 (the "</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Effective Date</font><font style="font-family:inherit;font-size:12pt;">") and is entered into between you, </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">[Name of Participant]</font><font style="font-family:inherit;font-size:12pt;">, and </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Sterling Construction Company, Inc</font><font style="font-family:inherit;font-size:12pt;">. (the "</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Company</font><font style="font-family:inherit;font-size:12pt;">") pursuant to the Company&#8217;s 2018 Senior Executive Incentive Compensation Plan, a copy of a description of which has been furnished to you (the </font><font style="font-family:inherit;font-size:12pt;font-style:italic;">&#8220;Plan Description.&#8221;</font><font style="font-family:inherit;font-size:12pt;">) The restricted stock units referred to in this Agreement (the </font><font style="font-family:inherit;font-size:12pt;font-style:italic;">&#8220;Award&#8221;</font><font style="font-family:inherit;font-size:12pt;">) are issued under the Company&#8217;s Stock Incentive Plan, which is incorporated into this Agreement by this reference. In the event of a conflict between the terms of this Agreement and the Plan Description, the terms of this Agreement will govern. In the event of a conflict between the Plan Description and the Stock Incentive Plan, the terms of the Stock Incentive Plan will govern. </font></div><div style="line-height:120%;padding-bottom:6px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By signing this Agreement, you acknowledge that you have received a copy of the Plan Description, the Stock Incentive Plan, and that you accept this award. </font></div><div style="line-height:120%;padding-bottom:6px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">In consideration of the foregoing recitals and the covenants made in this Agreement, you and the Company agree as follows:</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">1.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">The 2018 Long-Term Incentive</font><font style="font-family:inherit;font-size:12pt;">. On January 17, 2018, the Compensation Committee of the Board of Directors of the Company (the "</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Committee</font><font style="font-family:inherit;font-size:12pt;">") established the 2018 Senior Executive Incentive Compensation Plan, which includes a Long-Term Incentive (the "</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">LTI</font><font style="font-family:inherit;font-size:12pt;">") which gives you and other participants the opportunity to earn shares of common stock of the Company. References in this Agreement to "common stock" mean the Company's common stock, $0.01 par value per share. The LTI is a stock award that vests over a three-year period. Each three-year period, which begins on January 1</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">st</sup></font><font style="font-family:inherit;font-size:12pt;">&#32;and ends on December 31</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">st</sup></font><font style="font-family:inherit;font-size:12pt;">&#32;is referred to in this Agreement as the "</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Program Cycle.</font><font style="font-family:inherit;font-size:12pt;">" The LTI consists of two awards made as part of the Program Cycle, as follows:</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New