NEENAH ENTERPRISES, INC. MANAGEMENT EQUITY INCENTIVE PLAN DIRECTORS RESTRICTED STOCK UNIT AGREEMENT
Exhibit 10.3
NEENAH ENTERPRISES, INC. MANAGEMENT EQUITY INCENTIVE PLAN
DIRECTORS RESTRICTED STOCK UNIT AGREEMENT
This Agreement (the “Agreement”) is made as of , 2008 by and between Neenah
Enterprises, Inc., a Delaware corporation (the “Company”),
and (the
“Director”).
I AWARD OF RESTRICTED STOCK UNITS
1.01
Grant of Restricted Stock Units. This Award applies to ___ shares of
Common Stock that will be reflected in a book account maintained by the Company until they have
been distributed following Director’s termination of service (the “Restricted Stock Units”). This
Award is granted pursuant to the terms of the Neenah Enterprises, Inc. Management Equity Incentive
Plan (the “Plan”). Capitalized terms used in this Agreement and not defined herein shall have the
meaning given to such terms in the Plan.
1.02 Distribution of Restricted Stock Units. The Restricted Stock Units granted under
this Agreement shall be fully vested upon grant. The Restricted Stock Units shall be distributed
to Director within sixty (60) days following the date Director ceases to be a member of the Board.
The Company shall deliver to the Director one Share for each Restricted Stock Unit.
II RIGHTS PRIOR TO DISTRIBUTION
2.01 No Voting, Dividend Rights. The Director will not have any right to vote the
Restricted Stock Units or to receive credit for cash dividends prior to distribution.
2.02 Units are not Transferable. The Director shall not be deemed a stockholder of
the Company with respect to any of the Restricted Stock Units prior to distribution. The
Restricted Stock Units may not be sold, assigned, pledged, encumbered or otherwise transferred.
III OTHER PROVISIONS
3.01 Not a Retention Agreement. This Agreement does not confer upon Director any
right to continuation of service in any capacity by the Company and does not constitute a service
agreement of any kind.
3.02 Successors. This Agreement shall be binding upon and inure to the benefit of any
successor or successors of the Company.
3.03 Construction. This Agreement shall be administered, interpreted and enforced
under the laws of the state of Delaware, without regard to conflicts of laws provisions that would
give effect to the laws of another jurisdiction.
IN WITNESS WHEREOF, this Agreement has been executed and delivered by the parties hereto as of
the day, month and year first set forth above.
THE COMPANY: NEENAH ENTERPRISES, INC. | ||||||
By: Print Name: Title: |
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DIRECTOR: | ||||||
Signature: | ||||||
Print Name: | ||||||
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