SEC Contract Filing

Filing Date: 2019-08-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>6
<FILENAME>a10-qx20190628xex106.htm
<DESCRIPTION>EXHIBIT 10.6
<TEXT>
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<div><a name="sbfd1547d70674dfdaccf71bd1bf27085"></a></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Exhibit 10.6</font></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%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">IEC ELECTRONICS CORP.</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">2019 STOCK INCENTIVE PLAN</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">PERFORMANCE RESTRICTED STOCK UNIT AWARD AGREEMENT</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Performance Restricted Stock Unit Award Agreement (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Award Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) is made and entered into as of [_______________], 20__ (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Date of Grant</font><font style="font-family:inherit;font-size:12pt;">&#8221;), by and between IEC Electronics Corp. (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and ___________________ (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Participant</font><font style="font-family:inherit;font-size:12pt;">&#8221;). Capitalized terms not defined in this Award Agreement shall have the respective meanings given such terms by the IEC Electronics Corp. 2019 Stock Incentive Plan (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Plan</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-left:0px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Award</font><font style="font-family:inherit;font-size:12pt;">. The Company hereby grants to the Participant an Award (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Award</font><font style="font-family:inherit;font-size:12pt;">&#8221;) of Restricted Stock Units (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">PSUs</font><font style="font-family:inherit;font-size:12pt;">&#8221;) covering [____________] shares of Stock, subject to the provisions of the Plan and to the terms and conditions of this Award Agreement.</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-left:0px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">2.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Vesting and Payment</font><font style="font-family:inherit;font-size:12pt;">. Except as otherwise provided by the Participant&#8217;s employment agreement (if any), subject to the provisions of the Plan and this Award Agreement, and subject to the Participant&#8217;s continued service with the Company or any of its Affiliates through the end of the Performance Period, the number of PSUs that will vest shall be based on the level of achievement of the performance goal(s) set forth on Exhibit A to this Award Agreement for the Performance Period set forth on Exhibit A, rounded to the nearest whole PSU. Upon vesting, each vested PSU will convert at that time into the right to receive one share of Stock, which, less the number of shares of Stock (if any) withheld to satisfy tax withholding pursuant to Section 7 below, will be issued to the Participant no later than the later of (i) December 31 of the year in which the Performance Period ends, and (ii) the 15th day of the third calendar month following the last day of the Performance Period. </font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-left:0px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">3.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Acceleration of Vesting and Payment</font><font style="font-family:inherit;font-size:12pt;">. </f