CAVCO INDUSTRIES, INC. 2005 STOCK INCENTIVE PLAN PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD AGREEMENT (FOR EMPLOYEES)Performance-Based Restricted Stock Unit Award Agreement • May 31st, 2022 • Cavco Industries Inc. • Mobile homes • Delaware
This Performance-Based Restricted Stock Unit Award Agreement (the “Agreement”) is made and entered into as of ______, 20__ (the “Grant Date”) by and between Cavco Industries, Inc., a Delaware corporation (the “Company”) and _______ (the “Grantee”), an employee of the Company, pursuant to the Cavco Industries, Inc. 2005 Stock Incentive Plan, as amended (the “Plan”). In light of the repeal of the performance-based compensation exception to the Internal Revenue Service Code, Section 162(m) (“IRS 162(m)”). This Award is not intended to qualify as performance-based compensation for purposes of IRS 162(m), as a result, it is not subject to the restrictions set forth in the Plan that are applicable to Awards designed to comply with IRS 162(m). Except as defined herein (or as provided in Exhibit “A” attached hereto), capitalized terms used but not defined in this Agreement shall have the same meanings ascribed to them in the Plan.
