SEC Contract Filing

Filing Date: 2021-03-12

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>exhibit103.htm
<DESCRIPTION>EX-10.3
<TEXT>
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<title>Document</title></head><body><div id="i59d2cf9214ec47faa472e57a093d1969_1"></div><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">EXHIBIT 10.3</font></div><div><font><br></font></div><div style="text-indent:315pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#91;For Participant who holds Only Common Stock&#93;</font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">RESTRICTED STOCK AWARD</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">UNDER THE</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">INCENTIVE COMPENSATION PLAN</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(2021)</font></div><div><font><br></font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Long Term Incentive Plan Shares</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To&#58;&#160;&#160;&#160;&#160;</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Date&#58;&#160;&#160;&#160;&#160;</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:justify;text-indent:38.25pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Dixie Group, Inc. (the &#8220;Company&#8221;) hereby awards you ________ shares of restricted stock, as an award of Long Term Incentive Plan Shares (LTIP Shares) pursuant to the Incentive Compensation Plan, subject to the terms and conditions set forth below&#58;</font></div><div><font><br></font></div><div style="text-align:justify;text-indent:38.25pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.&#160;&#160;&#160;&#160;Restricted Stock. All LTIP Shares are shares of restricted stock and are actual shares of common stock of the Company. A stock certificate representing LTIP Shares will be issued in your name, but will be held by the Company.</font></div><div><font><br></font></div><div style="text-align:justify;text-indent:38.25pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.&#160;&#160;&#160;&#160;Ownership Rights. Immediately upon effectiveness of this Award, you will have all the rights of ownership with respect to the shares represented by the Award, except that such shares cannot be sold, pledged or transferred until the restrictions are removed, and such shares are subject to forfeiture, as described in this Award document.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> You are entitled to vote shares of restricted stock and to receive any dividends paid on such shares.</font></div><div><font><br></font></div><div style="text-align:justify;text-indent:38.25pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.&#160;&#160;&#160;&#160;Vesting. Shares of Restricted Stock subject to this Award vest in accordance with the schedule set forth in</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> Annex A</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> , subject to earlier vesting upon your death, disability, or upon a change of control of the Company, in which case such Award shall be 100% vested. That portion, if any, of the restricted shares subject to this Award that is equal to the portion of the award that has been expensed pursuant to the terms hereof, shall vest upon your reaching age 65 (or upon your termination without cause, if sooner), and shall be payable to you no later than 3&#47;15 of the following year.</font></div><div><font><br></font></div><div style="text-align:justify;text-indent:38.25pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4.&#160;&#160;&#160;&#160;Effects of Termination on Unvested Restricted Stock. All unvested shares of Restricted Stock subject to this Award will be forfeited if and to the extent such shares have not vested before or upon your voluntary termination of employment (other than by retirement) or involuntary termination by the Company for cause.</font></div><div><font><br></font></div><div style="text-align:justify;text-indent:38.25pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:12