SEC Contract Filing

Filing Date: 2023-11-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>7
<FILENAME>ex-106q32023.htm
<DESCRIPTION>EX-10.6
<TEXT>
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<title>Document</title></head><body><div id="ic31daaf9f5774f7398efafd02d31d643_1"></div><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Exhibit 10.6</font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">Annual Executive Incentive </font></div><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">Compensation Plan (ExIP)</font></div><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-style:italic;font-weight:700;line-height:100%">L. B. FOSTER COMPANY<br></font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:100%"> 2023 EXECUTIVE ANNUAL INCENTIVE COMPENSATION PROGRAM</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%">The purpose of this document is to establish in writing the performance goals and other terms applicable to cash financial performance awards for each fiscal year of the Company that constitutes a Performance Period (the &#8220;Program&#8221; or &#8220;ExIP&#8221;) as authorized under the L.B. Foster Company Executive Annual Incentive Compensation Plan (the &#8220;Omnibus Annual Incentive Plan&#8221;).</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%">I.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:100%"> </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:100%;text-decoration:underline">DEFINITIONS</font></div><div style="margin-bottom:12pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%">a.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:8pt">Defined terms used but not defined herein shall have the meanings ascribed to them in the Omnibus Annual Incentive Plan under which each annual Program is established.</font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:100%">II. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:100%;text-decoration:underline">TERMS AND CONDITIONS</font></div><div style="margin-bottom:12pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%">a.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:8pt">Unless otherwise determined by the Committee, the Performance Period shall be one calendar year (January 1 through December 31). </font></div><div style="margin-bottom:12pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%">b.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:8pt">Each Participant shall receive a cash award in an amount equal to the Participant&#8217;s base compensation multiplied by a target percentage established by the Committee based upon the position held by the Participant as approved by the Committee and set forth on Exhibit B, on file with the Committee (the &#8220;Target Percentage&#8221;) (an &#8220;Award&#8221;). The amount of any Award earned and payable is calculated with reference to the percentage achievement of certain Performance Measures established by the Committee and as described below.</font></div><div style="margin-bottom:12pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%">c.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:8.67pt">A Participant&#8217;s base compensation shall be the Participant&#8217;s salary on March 1 of the applicable Performance Period, rounded to the nearest whole dollar.</font></div><div style="margin-bottom:12pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%">d.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:8pt">Participants in the Program are listed on Exhibit B on file with the Committee, which identifies each Participant&#8217;s title and Company operating unit, and Target Percentage for the applicable Performance Period.</font></div><div style="margin-bottom:12pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%">e.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:8pt">A Participant&#8217;s right, if any, to receive payout of an Award, if earned, shall be contingent upon the Participant having execut