SEC Contract Filing

Filing Date: 2020-03-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>3
<FILENAME>a1042019psutemplate.htm
<DESCRIPTION>AMENDED AND RESTATEDSTANDARD FORM OF PSU AGREEMENT UNDER 2014 PLAN
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 <title>Exhibit</title>
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<div><a name="s80D6E2B93BC6F0D84C1C83F51F84A16C"></a></div><div></div><div><br></div><div style="line-height:150%;padding-bottom:16px;padding-top:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Performance Share Unit Agreement</font></div><div style="line-height:150%;padding-bottom:16px;padding-top:16px;text-align:left;text-indent:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Performance Share Unit Agreement (this "</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Agreement</font><font style="font-family:inherit;font-size:12pt;">") is made and entered into as of xxxxxx, 2019 (the "</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Grant Date</font><font style="font-family:inherit;font-size:12pt;">") by and between HomeStreet, Inc., a Washington corporation (the "</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:12pt;">") and [EXECUTIVE NAME] (the "</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Grantee</font><font style="font-family:inherit;font-size:12pt;">").</font></div><div style="line-height:150%;padding-bottom:16px;padding-top:16px;text-align:left;text-indent:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, the Company has adopted the HomeStreet, Inc. 2014 Equity Incentive Plan (the "</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Plan</font><font style="font-family:inherit;font-size:12pt;">") pursuant to which Performance Share Units may be granted; and</font></div><div style="line-height:150%;padding-bottom:16px;padding-top:16px;text-align:left;text-indent:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, the Committee has determined that it is in the best interests of the Company and its shareholders to grant the award of Performance Share Units provided for herein.</font></div><div style="line-height:150%;padding-bottom:16px;padding-top:16px;text-align:left;text-indent:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, the parties hereto, intending to be legally bound, agree as follows:</font></div><div style="line-height:150%;padding-left:0px;padding-top:16px;text-align:left;text-indent:0px;"><font style="padding-top:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:0px;">1.</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Grant of Performance Share Units</font><font style="font-family:inherit;font-size:12pt;">. Pursuant to Sections 7.3 and 7.4 of the Plan, the Company hereby grants to the Grantee an Award for a target number [NUMBER] Performance Share Units (the "</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Target Award</font><font style="font-family:inherit;font-size:12pt;">"). Each Performance Share Unit ("</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">PSU</font><font style="font-family:inherit;font-size:12pt;">") represents the right to receive one share of Common Stock, subject to the terms and conditions set forth in this Agreement and the Plan. The number of PSUs that the Grantee actually earns for the Performance Period will be determined by the level of achievement of the Performance Goal(s) in accordance with </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exhibit I</font><font style="font-family:inherit;font-size:12pt;">&#32;attached hereto. Capitalized terms that are used but not defined herein have the meanings ascribed to them in the Plan.</font></div><div style="line-height:150%;padding-top:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Performance Period</font><font style="font-family:inherit;font-size:12pt;">. For purposes of this Agreement, the term "Performance Period" shall be the period commencing on January 1, 2019 and ending on December 31, 2021.</font></div><div style="line-height:150%;padding-top:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Performance Goals</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:150%;padding-top:16px;text-align:left;text-indent:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3.1</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The number of PSUs earned by the Grantee for the Performance Period will be determined at the end of the Performance Period based on the level of achievement of the Performance Goal(s) in accordance with Exhibit I. All determinations of whether Performance Goal(s) have been achieved, the number of PSUs earned by the Grantee, and all other matters related to this </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 3</font><