EXHIBIT 10ix
COMMON STOCK GRANT AGREEMENT
WHEREAS,________________ (the "Grantee") is a Non-Employee
Director (as defined in the 1997 Equity Plan for Non-Employee
Directors (the "Plan"), of HON INDUSTRIES Inc., an Iowa
corporation (the "Company"); and
WHEREAS, the execution of a Common Stock Grant Agreement in
the form hereof and the Common Stock Grant effected hereby have
been duly authorized by a resolution of the Board of Directors of
the Company duly adopted on February 12, 1997; and
WHEREAS, the Company has determined that it would be in the
best interests of the Company to issue the shares of Common Stock
provided herein to the Grantee in consideration of services to be
performed for the Company.
NOW, THEREFORE, in consideration and as additional
compensation for services to be performed for the Company and for
other good and valuable consideration, on the date hereof the
Company issues to Grantee ____ shares of its Common Stock, par
value $1.00 per share ("Common Stock"), and agrees to cause
certificates for the shares granted hereunder to be delivered to
the Grantee, subject to the terms and conditions hereinafter set
forth.
This grant of Common Stock is made pursuant to the Plan, a
copy of which is attached hereto. This Agreement is subject to
all the terms and conditions of the Plan, which are incorporated
herein by reference. Capitalized terms used herein and not
defined are used as defined in the Plan.
EXECUTED at Muscatine, Iowa, this ___ day of _________, 199__.
HON INDUSTRIES Inc.
By_____________________
The undersigned Grantee hereby acknowledges receipt of an
executed original of the Common Stock Grant Agreement and the
1997 Equity Plan for Non-Employee Directors of HON INDUSTRIES
Inc., and accepts the grant made thereunder.
________________________
Grantee
