Form of Restricted Share Unit Award Agreement for Non-Employee Directors to be used for awards granted after May 8, 2025

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EX-10.3 3 d11552dex103.htm EX-10.3 EX-10.3

Exhibit 10.3

NOTICE OF GRANT

to

 

 

(“Grantee”)

by

NUCOR CORPORATION

of

[      ]

Non-Transferable Restricted Share Units (“Units”)

each of which shall represent the right to receive, when and as provided herein, one (1) Common Share.

This grant shall be subject in all respects to the provisions of the Nucor Corporation 2025 Omnibus Incentive Compensation Plan and the terms and conditions set forth in the Restricted Share Unit Award Agreement attached hereto and incorporated herein by reference.

IN WITNESS WHEREOF, Nucor Corporation, acting by and through its duly authorized officer, has caused this Notice of Grant to be executed as of the Date of Grant set forth below.

 

NUCOR CORPORATION
By:  
Name:   Stephen D. Laxton
Title:  

Chief Financial Officer and

Executive Vice President

Date of Grant: [           ]

NUCOR CORPORATION

2025 Omnibus Incentive Compensation Plan

Restricted Share Unit Award Agreement

THIS RESTRICTED SHARE UNIT AWARD AGREEMENT (this “Award Agreement”) is made and entered into as of [grant date], by and between Nucor Corporation, a Delaware corporation (the “Company”), and the individual (the “Grantee”) identified in the accompanying Notice of Grant of Restricted Share Units (the “Notice”).

TERMS AND CONDITIONS

1. Grant of Units. The Company hereby grants to the Grantee, subject to the restrictions and the other terms and conditions set forth in the Nucor Corporation 2025 Omnibus Incentive Compensation Plan (the “Plan”) and in this Award Agreement, the number of restricted share units (the “Units”) set forth in the Notice, each of which shall represent the right to receive, when and as provided herein, one (1) Common Share. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Plan.

2. Vesting of Units. The Units shall be fully and immediately vested on the Date of Grant.

3. Account; Dividend Equivalent Payments. The Units shall be credited to a bookkeeping account in the name of Grantee on the books and records of the Company (the “Restricted Share Unit Account”). The Company shall pay to the Grantee in cash, within thirty (30) days after the payment date of any cash dividend with respect to Common Shares, a dividend equivalent payment equal to the number of Units credited to the Grantee’s Restricted Share Unit Account as of the record date for such dividend multiplied by the per share amount of the dividend.

4. Receipt of Shares. The Company shall issue the Common Shares represented by the Units to the Grantee, or to the Grantee’s estate in the event of Grantee’s death, within ninety (90) days after the termination of the Grantee’s service on the Board of Directors.

5. Limitation of Rights. The Units do not confer upon the Grantee, or the Grantee’s estate in the event of Grantee’s death, any rights as a stockholder of the Company unless and until Common Shares are in fact issued to such person in respect of the Units.

6. Restrictions on Transfer and Pledge. No right or interest of Grantee in the Units may be pledged, encumbered, or hypothecated to or in favor of any party other than the Company or an affiliate, or shall be subject to any lien, obligation, or liability of Grantee to any other party other than the Company or an affiliate. The Units are not assignable or transferable by Grantee other than by will or the laws of descent and distribution.

7. Plan Controls. The terms contained in the Plan (including without limitation its per annum limit on shares awarded and provisions regarding changes in capital structure of the Company) are incorporated into and made a part of this Award Agreement and this Award Agreement shall be governed by and construed in accordance with the Plan. In the event of any actual or alleged conflict between the provisions of the Plan and the provisions of this Award Agreement, the provisions of the Plan shall be controlling and determinative.

8. Amendment. The Company may amend or terminate this Award Agreement without the consent of Grantee; provided, however, that such amendment or termination shall not, without Grantee’s consent, reduce or diminish the value of this award determined on the date of such amendment or termination.

9. Successors. This Award Agreement shall be binding upon any successor of the Company, in accordance with the terms of this Award Agreement and the Plan.

10. Severability. If any one or more of the provisions contained in this Award Agreement are invalid, illegal or unenforceable, the other provisions of this Award Agreement will be construed and enforced as if the invalid, illegal or unenforceable provision had never been included.

11. Notice. Notices and communications under this Award Agreement must be in writing and either personally delivered or sent by registered or certified United States mail, return receipt requested, postage prepaid. Notices to the Company must be addressed to:

Nucor Corporation

1915 Rexford Road

Charlotte, North Carolina 28211

Attn: Corporate Secretary

or any other address designated by the Company in a written notice to Grantee. Notices to the Grantee will be directed to the address of Grantee then currently on file with the Company, or at any other address given by Grantee in a written notice to the Company.

12. Incorporation of Notice. The Notice is incorporated by reference and made a part of this Award Agreement.

13. Governing Law. This Agreement shall be construed, interpreted and governed and the legal relationships of the parties determined in accordance with the internal laws of the State of North Carolina without reference to rules relating to conflicts of law.