SEC Contract Filing

Filing Date: 2015-06-15

Document Content:
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<TYPE>EX-10.16
<SEQUENCE>4
<FILENAME>profireexh1016.htm
<DESCRIPTION>FORM OF EQUITY GRANT AGREEMENT, RESTRICTED STOCK UNITS
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<div style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: bold">EXHIBIT 10.16</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FORM OF EQUITY GRANT AGREEMENT, RESTRICTED STOCK UNITS</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">PROFIRE ENERGY, INC.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">2014 EQUITY INCENTIVE PLAN</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">RESTRICTED STOCK UNIT AWARD AGREEMENT</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">This <font style="DISPLAY: inline; FONT-WEIGHT: bold">RESTRICTED STOCK UNIT AWARD AGREEMENT</font> (this &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Agreement</font>&#8221;) is made this _____ day of _____, _____ (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Effective Date</font>&#8221;), by and between <font style="DISPLAY: inline; FONT-WEIGHT: bold">Profire Energy, Inc.</font>, a Nevada corporation (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Company</font>&#8221;) and _______________ (&#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Participant</font>&#8221;). All capitalized terms used herein but not defined herein shall have the meanings given to them in the Profire Energy, Inc. 2014 Equity Incentive Plan (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Plan</font>&#8221;).</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">6. <font style="DISPLAY: inline; TEXT-DECORATION: underline">Award</font></font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">. The Company hereby grants to Participant a restricted stock unit award (the &#8220;Award&#8221;) covering _____ shares (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Shares</font>&#8221;) of Common Stock, par value $0.001 per share, of the Company according to the terms and conditions set forth herein and in the Plan. Each restricted stock unit (a &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Unit</font>&#8221;) represents the right to receive one Share, subject to the vesting requirements of this Agreement and the terms of the Plan. The Units are granted under Section 6(c) of the Plan. A copy of the Plan will be furnished upon request of Participant.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">7. <font style="DISPLAY: inline; TEXT-DECORATION: underline">Vesting</font></font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">. Except as otherwise provided in this Agreement, so long as Participant is providing service as an Eligible Person for the Company or any Affiliate (&#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Service</font>&#8221;), the Units shall vest in accordance with the following schedule:</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On each of</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">the following dates</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Number of Units</font></div>

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