SEC Contract Filing

Filing Date: 2021-09-02

Document Content:
<DOCUMENT>
<TYPE>EX-10.34
<SEQUENCE>4
<FILENAME>brc-20210731xex1034.htm
<DESCRIPTION>FISCAL 2022 NONQUALIFIED EMPLOYEE STOCK OPTION AGREEMENT
<TEXT>
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<title>Document</title></head><body><div id="ifb95cb7dc1f448adaae8ce32e8e14b4e_1"></div><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">EXHIBIT 10.34</font></div><div style="padding-left:49.35pt;padding-right:49.35pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">BRADY CORPORATION </font></div><div style="padding-left:49.35pt;padding-right:49.35pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">NONQUALIFIED STOCK OPTION</font></div><div><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon management&#8217;s recommendation, the Management Development and Compensation Committee (the &#8220;Committee&#8221;) of the Brady Corporation Board of Directors has awarded to </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (&#8220;Employee&#8221;) a non-qualified stock option (the &#8220;Option&#8221;) effective </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, 20__, pursuant to the terms of the Brady Corporation 2017 Omnibus Incentive Plan (the &#8220;Plan&#8221;). The Corporation&#8217;s records shall be the official record of the Option grant described herein and, in the event of any conflict between this description and the Corporation&#8217;s records, the Corporation&#8217;s records shall control.</font></div><div><font><br></font></div><div style="padding-left:41pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">1.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:28.5pt;text-decoration:underline">Number of Shares Optioned&#59; Grant Price</font></div><div><font><br></font></div><div style="padding-left:40.95pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Corporation grants to the Employee the right and option to purchase, on the terms and conditions hereof, all or any part of an aggregate of X,XXX Shares of the presently authorized Class A Common Stock of the Corporation, $.01 par value, whether unissued or issued and reacquired by the Corporation, at the price of $XX.XX per Share (the &#8220;Grant Price&#8221;).</font></div><div><font><br></font></div><div style="padding-left:41pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:28.5pt;text-decoration:underline">Conditions of Exercise of Options During Employee's Lifetime&#58; Vesting of Option</font></div><div><font><br></font></div><div style="padding-left:40.5pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Except as provided in this Section and in Section 3, this Option may not be exercised (a) unless Employee is at the date of the exercise in the employ of the Corporation or an Affiliate, and (b) until Employee shall have been continuously so employed for a period of at least one year from the date hereof. Thereafter, this Option shall be exercisable for any amount of Shares up to the maximum percentage of Shares covered by this Option (rounded up to the nearest whole Share), as follows (but in no event shall this Option be exercisable for any Shares after the expiration date provided in Section 7)&#58;</font></div><div style="padding-left:40.5pt;text-align:justify"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:76.900%"><tr><td style="width:1.0%"></td><td style="width:47.188%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:50.612%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:0.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Number of Completed Years</font></div><div style="margin-top:0.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">After Grant Date</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:1.45pt;padding-left:39.9pt;padding-right:11.4pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"