Navistar Deferred Share Unit Award Agreement under Executive Stock Ownership Program
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Summary
This agreement is between Navistar International Corporation and an employee, granting the employee a specified number of Deferred Share Units under the company's 2004 Performance Incentive Plan and Executive Stock Ownership Program. The units vest on certain dates and convert to common stock upon the employee's termination or qualified retirement. The units are non-voting and subject to forfeiture and transfer restrictions as outlined in the plan and program. Both parties agree to the terms by signing the agreement.
EX-10.55 17 ex10-55.htm EX 10.55 ex 10.55
EXHIBIT 10.55
Deferred Share Unit Certificate
NAVISTAR EXECUTIVE STOCK OWNERSHIP PROGRAM
Adopted As Of February 17, 2004
EMPLOYEE:
ADDRESS:
SOCIAL SECURITY NUMBER:
TOTAL OF DEFERRED SHARES:
DATE OF GRANT:DATE VESTED:
This is an award agreement (the "Award Agreement") between Navistar International Corporation, a Delaware corporation (the "Corporation"), and the individual named above (the "Employee"). The Corporation hereby credits to the Employee's account, the above-stated number of Deferred Share Units, which are issuable as Common Stock of the Corporation in accordance with the terms and conditions of the Corporation’s 2004 Performance Incentive Plan approved by the shareholders February 17, 2004, as amended from time to time (the "Plan").
The Deferred Share Units awarded hereunder are further subject to the terms and conditions of the Corporation’s Executive Stock Ownership Program, as amended and restated September 1, 2004, as amended from time to time (the "Program"), a copy of which is attached. Subject to the terms and conditions of the Program and the Plan, including the provisions regarding forfeiture of the shares and restrictions on transferability, these Deferred Share Units will vest on the dates set forth above. Deferred Share Units which have been fully vested will convert to the Corporation’s Common Stock and be distributed to the Employee upon termination of employment or such other mutually agreed upon date if such termination of employment is through qualified retirement. These Deferred Share Units shall have the same r ights as Common Stock of the Corporation except the units shall be non-voting.
The Corporation and the Employee hereby agree to the terms and conditions of this Award Agreement and have executed it as of the date set forth above.
NAVISTAR INTERNATIONAL CORPORATION
By:__________________________________
Terry M. Endsley
Vice President & Treasurer
Attest:
_________________________________
Assistant Secretary
_________________________________
Employee
E-92
