Performance Share Award Grant. The Company hereby grants to the Grantee an award of Performance Shares (the “Award”) under the Enerpac Tool Group 2017 Omnibus Incentive Plan (the “Plan”). The Award entitles the Grantee to payment in the form of shares of Common Stock following the attainment of certain Performance Objectives (as defined in Paragraph 4 below) and subject to satisfaction of certain employment requirements set forth below. Performance Shares Awarded under this PSA Agreement are forfeitable until they are both earned and vested in accordance with this PSA Agreement. The period of time during which the Performance Shares Awarded are forfeitable (because they are not both earned and vested) is referred to as the “Restricted Period”. Performance Shares shall become vested if the Grantee remains continuously employed for the entire Performance Period set forth in the Plan’s online administrative system (at the conclusion of the current and two subsequent fiscal reporting years) (the “Performance Period”). A xxxxx xxxxx of US$“____”, reflecting the Company’s stock price at the close of trading on “_______________”, was used to determine the number of Performance Awards granted related to the TSR performance award. The date of grant of this Award, “________________”, and the target number of Performance Shares subject to this Award (the “Target Award”) are provided on the Plan’s online administrative system, but the actual number of shares of Common Stock to be issued under the Award will be determined as described below in this PSA Agreement. After the end of the Performance Period, the Compensation Committee of the Board of Directors of the Company (the “Committee”) will review the Performance Objectives and determine the actual numbers of shares of Common Stock which the Grantee has earned under this PSA Agreement. No stock certificates will be issued with respect to any Award of Performance Shares until the date set forth in Paragraph 6, if applicable. The Performance Shares are granted under and are subject to the terms of the Plan and this PSA Agreement, including any additional terms and conditions set forth in the appendices attached hereto. In the event of any conflict between any provisions of this PSA Agreement and the provisions of the Plan, the provisions of the Plan shall control. Terms defined in the Plan where used herein shall have the meanings as so defined. The Grantee hereby acknowledges receipt of a copy of the Plan. 2. Definition: Total Shareholder Return (T...
Performance Share Award Grant. Actuant Corporation (hereinafter called the “Company”) hereby grants to the Grantee an award of Performance Shares (the “Award”) under the Actuant Corporation 2009 Omnibus Incentive Plan as amended (the “Plan”). The Award entitles the Grantee to payment in the form of shares of Common Stock following the attainment of certain Performance Objectives and subject to satisfaction of certain employment requirements set forth below. The target number of Performance Shares subject to this Award is stated above (the “Target Award”), but the actual number of shares of Common Stock to be issued under the Award will be determined as described below in this agreement (the “Agreement”). After the end of the Performance Period, the Compensation Committee of the Board of Directors of the Company (the “Committee”) will review the Performance Objectives and determine the actual numbers of Shares of Common Stock which Grantee has earned under this Agreement. The Performance Shares are granted under and are subject to the terms of the Plan and this Agreement. In the event of any conflict between any provisions of this Agreement and the provisions of the Plan, the provisions of the Plan shall control. Terms defined in the Plan where used herein shall have the meanings as so defined. Grantee hereby acknowledges receipt of a copy of the Plan.
