Other Clause Example with 4 Variations from Business Contracts

Other. In the absence of any specific agreement to the contrary, the grant of this Award to you will not affect any right of the Company or its subsidiaries to terminate your employment or your right to resign from employment. This Award is intended to comply with the requirements of Section 162(m) of the Internal Revenue Code for performance-based compensation. This Award is entered into and accepted in Carthage, Missouri. The Award will be governed by Missouri law, excluding any conflicts or choice o...f law provision that might otherwise refer construction or interpretation of the Award to the substantive law of another jurisdiction. Any action or proceeding arising from or related to this Award is subject to the exclusive venue and subject matter jurisdiction of the Circuit Court for Jasper County, Missouri or the United States District Court for the Western District of Missouri, and the parties agree to submit to the jurisdiction of such Courts. The parties also waive the defense of an inconvenient forum and agree not to seek any change of venue from such Courts. 8 EX-10.7 6 d471937dex107.htm 9 EX-10.5 7 d136701dex105.htm EXHIBIT 10.7 10.5 - 2018 2021 FORM OF PERFORMANCE STOCK UNIT AWARD AGREEMENT EXHIBIT 10.7 10.5 - 2018 Form of Performance Stock Unit Award Agreement Exhibit 10.7 2018 2021 FORM OF PERFORMANCE STOCK UNIT AWARD AGREEMENT [3-Year Exhibit 10.5 2021 FORM OF PERFORMANCE STOCK UNIT AWARD AGREEMENT Relative TSR and EBIT CAGR [3-year Performance Period] [Name] Congratulations! On , [2018], _____________, [2021], Leggett & Platt, Incorporated (the "Company") granted you a Performance Stock Unit Award (the "Award") under the Company's Flexible Stock Plan (the "Plan"). The Award is granted subject to the enclosed Terms and Conditions – [2021-2023] Performance Stock Unit Award ([2018-2020]) – Relative TSR and EBIT CAGR (the "Terms and Conditions"). You have been granted a base award of [ ] Performance Stock Units. The number of PSUs for your base Award was determined by multiplying your current annual base salary by your Award multiple (set by Senior Management and approved by the Compensation Committee), Committee) and dividing this amount by the average closing share price of the Company's stock for the 10 business trading days following the [2017] [2020] fourth quarter earnings release. A percentage of your base award will vest on December 31, [2020] [2023] and will be paid out by March 15, [2021]. [2024]. Fifty percent of your vested Award will be paid out in cash, and the Company intends to pay out the remaining 50% in shares of the Company's common stock. As described in the Terms and Conditions, the payout you ultimately receive from this Award depends on the level of achievement of two performance objectives: 50% of your Award will vest based upon on the Company's Total Shareholder Return compared to our Peer Group ("Relative TSR"), and 50% of your Award will vest based upon [the Company's] [the Segment's] [your Profit Centers'] compound annual growth rate of Earnings Before Interest and Taxes ("EBIT CAGR"), according to the schedules below. Relative TSRPercentile Relative TSRVesting % EBIT CAGR% EBIT CAGRVesting % 25% 25% 25 % 30% 35 % 35% 35% 45 % 40% 55 % 45% 40% 65 % 50% 75 % 2 % 75 % 55% 45% 100 % 4 % 100 % 60% 125 % 6 % 125 % 65% 50% 150 % 8 % 150 % 70% 175 % 10 % 175 % 75% 2% 75% 55% 100% 4% 100% 60% 125% 6% 125% 65% 150% 8% 150% 70% 175% 10% 175% 75% 200% 12% 200% 200 % 12 % 200 % You are not required to accept the Award. By signing below, you confirm that you understand and agree that this Award of Performance Stock Units is granted in exchange for you agreeing to the Terms and Conditions and the Plan, that the Terms and Conditions and the Plan are included in this Agreement by reference, and that you are not otherwise entitled to the Award. A summary of the Plan and the Company's most recent Annual Report to Shareholders are available upon request to the Corporate Human Resources Department. Accepted and Agreed: Date: This award letter and the enclosed materials are part of a prospectus covering securities that have been registered under the Securities Act of 1933. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved these securities or determined if this prospectus is truthful or complete. TERMS AND CONDITIONS - PERFORMANCE CONDITIONS—PERFORMANCE STOCK UNIT AWARD [2018-2020] Relative TSR and EBIT CAGR [2021-2023] 1. Performance Period. Your payout under this Performance Stock Unit Award (the "Award") will depend on (i) the base award shown on your Award Agreement and (ii) the Company's, or applicable Segment's, Profit Centers', performance during the three-year period beginning January 1, [2018] [2021] and ending December 31, [2020] [2023] (the "Performance Period"). View More

Other. In the absence of any specific agreement to the contrary, the grant of this Award to you will not affect any right of the Company or its subsidiaries to terminate your employment or your right to resign from employment. This Award is intended to comply with the requirements of Section 162(m) of the Internal Revenue Code for performance-based compensation. This Award is entered into and accepted in Carthage, Missouri. The Award will be governed by Missouri law, excluding any conflicts or choice o...f law provision that might otherwise refer construction or interpretation of the Award to the substantive law of another jurisdiction. Any action or proceeding arising from or related to this Award is subject to the exclusive venue and subject matter jurisdiction of the Circuit Court for Jasper County, Missouri or the United States District Court for the Western District of Missouri, and the parties agree to submit to the jurisdiction of such Courts. The parties also waive the defense of an inconvenient forum and agree not to seek any change of venue from such Courts. 8 EX-10.7 6 d471937dex107.htm EX-10.8 7 d471937dex108.htm EXHIBIT 10.7 10.8 - 2018 FORM OF INTERIM PERFORMANCE STOCK UNIT AWARD AGREEMENT EXHIBIT 10.7 10.8 - 2018 Form of Interim Performance Stock Unit Award Agreement Exhibit 10.7 10.8 2018 FORM OF INTERIM PERFORMANCE STOCK UNIT AWARD AGREEMENT [3-Year Performance Period] 2018-2019 [Name] Congratulations! On , [2018], 2018, Leggett & Platt, Incorporated (the "Company") granted you a Performance Stock Unit Award (the "Award") under the Company's Flexible Stock Plan (the "Plan"). The Award is granted subject to the enclosed Terms and Conditions – Performance Stock Unit Award ([2018-2020]) (2018-2019) (the "Terms and Conditions"). You have been granted a base award of [ ] Performance Stock Units. The number of PSUs for your base Award was determined by multiplying your current annual base salary by your Award multiple (set by Senior Management and approved by the Compensation Committee), and dividing this amount by the average closing share price of the Company's stock for the 10 business days following the [2017] 2017 fourth quarter earnings release. A percentage of your base award will vest on December 31, [2020] 2019 and will be paid out by March 15, [2021]. 2021. Fifty percent of your vested Award will be paid out in cash, and the Company intends to pay out the remaining 50% in shares of the Company's common stock. As described in the Terms and Conditions, the payout you ultimately receive from this Award depends on the level of achievement of two performance objectives: 50% of your Award will vest based upon on the Company's Total Shareholder Return compared to our Peer Group ("Relative TSR"), and 50% of your Award will vest based upon [the Company's] [the Segment's] compound annual growth rate of Earnings Before Interest and Taxes ("EBIT CAGR"), according to the schedules schedule below. Relative TSRPercentile Relative TSRVesting % EBIT CAGR% EBIT CAGRVesting % 25% 25% 30% 35% 35% 45% 40% 55% 45% 65% 50% 75% 2% 75% 55% 100% 4% 100% 60% 125% 6% 125% 65% 150% 8% 150% 70% 175% 10% 175% 75% 200% 12% 200% You are not required to accept the Award. By signing below, you confirm that you understand and agree that this Award of Performance Stock Units is granted in exchange for you agreeing to the Terms and Conditions and the Plan, that the Terms and Conditions are included in this Agreement by reference, and that you are not otherwise entitled to the Award. A summary of the Plan and the Company's most recent Annual Report to Shareholders are available upon request to the Corporate Human Resources Department. Accepted and Agreed: Date: This award letter and the enclosed materials are part of a prospectus covering securities that have been registered under the Securities Act of 1933. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved these securities or determined if this prospectus is truthful or complete. TERMS AND CONDITIONS - INTERIM PERFORMANCE STOCK UNIT AWARD [2018-2020] 2018-2019 1. Performance Period. Your payout under this Performance Stock Unit Award (the "Award") will depend on (i) the base award shown on your Award Agreement and (ii) the Company's, or applicable Segment's, performance during the three-year period beginning January 1, [2018] 2018 and ending December 31, [2020] 2019 (the "Performance Period"). View More

Other. In the absence of any specific agreement to the contrary, the grant of this Award to you will not affect any right of the Company or its subsidiaries to terminate your employment or your right to resign from employment. This Award is intended to comply with the requirements of Section 162(m) of the Internal Revenue Code for performance-based compensation. This Award is entered into and accepted in Carthage, Missouri. The Award will be governed by Missouri law, excluding any conflicts or choice o...f law provision that might otherwise refer construction or interpretation of the Award to the substantive law of another jurisdiction. Any action or proceeding arising from or related to this Award is subject to the exclusive venue and subject matter jurisdiction of the Circuit Court for Jasper County, Missouri or the United States District Court for the Western District of Missouri, and the parties agree to submit to the jurisdiction of such Courts. The parties also waive the defense of an inconvenient forum and agree not to seek any change of venue from such Courts. 8 EX-10.7 6 d471937dex107.htm EXHIBIT 10.7 - 2018 EX-10.2 3 d892027dex102.htm 2020 FORM OF PERFORMANCE STOCK UNIT AWARD AGREEMENT EXHIBIT 10.7 - 2018 Form of Performance Stock Unit Award Agreement Exhibit 10.7 2018 2020 FORM OF PERFORMANCE STOCK UNIT AWARD AGREEMENT Exhibit 10.2 2020 FORM OF PERFORMANCE STOCK UNIT AWARD AGREEMENT Relative TSR and EBIT CAGR [3-Year Performance Period] [Name] Congratulations! On , [2018], _____________, [2020], Leggett & Platt, Incorporated (the "Company") granted you a Performance Stock Unit Award (the "Award") under the Company's Flexible Stock Plan (the "Plan"). The Award is granted subject to the enclosed Terms and Conditions – [2020-2022] Performance Stock Unit Award ([2018-2020]) – Relative TSR and EBIT CAGR (the "Terms and Conditions"). You have been granted a base award of [ ] Performance Stock Units. The number of PSUs for your base Award was determined by multiplying your current annual base salary by your Award multiple (set by Senior Management and approved by the Compensation Committee), Committee) and dividing this amount by the average closing share price of the Company's stock for the 10 business trading days following the [2017] [2019] fourth quarter earnings release. A percentage of your base award will vest on December 31, [2020] [2022] and will be paid out by March 15, [2021]. [2023]. Fifty percent of your vested Award will be paid out in cash, and the Company intends to pay out the remaining 50% in shares of the Company's common stock. As described in the Terms and Conditions, the payout you ultimately receive from this Award depends on the level of achievement of two performance objectives: 50% of your Award will vest based upon on the Company's Total Shareholder Return compared to our Peer Group ("Relative TSR"), and 50% of your Award will vest based upon [the Company's] [the XXX Segment's] compound annual growth rate of Earnings Before Interest and Taxes ("EBIT CAGR"), according to the schedules below. Relative TSRPercentile TSR Percentile Relative TSRVesting TSR Vesting % EBIT CAGR% CAGR % EBIT CAGRVesting CAGR Vesting % 25% 25% 30% 35% 35% 45% 40% 55% 45% 65% 50% 75% 2% 75% 55% 100% 4% 100% 60% 125% 6% 125% 65% 150% 8% 150% 70% 175% 10% 175% 75% 200% 12% 200% You are not required to accept the Award. By signing below, you confirm that you understand and agree that this Award of Performance Stock Units is granted in exchange for you agreeing to the Terms and Conditions and the Plan, that the Terms and Conditions and the Plan are included in this Agreement by reference, and that you are not otherwise entitled to the Award. A summary of the Plan and the Company's most recent Annual Report to Shareholders are available upon request to the Corporate Human Resources Department. Accepted and Agreed: Date: This award letter and the enclosed materials are part of a prospectus covering securities that have been registered under the Securities Act of 1933. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved these securities or determined if this prospectus is truthful or complete. TERMS AND CONDITIONS - PERFORMANCE STOCK UNIT AWARD [2018-2020] Relative TSR and EBIT CAGR [2020-2022] 1. Performance Period. Your payout under this Performance Stock Unit Award (the "Award") will depend on (i) the base award shown on your Award Agreement and (ii) the Company's, or applicable Segment's, performance during the three-year period beginning January 1, [2018] [2020] and ending December 31, [2020] [2022] (the "Performance Period"). View More

Other. In the absence of any specific agreement to the contrary, the grant of this Award to you will not affect any right of the Company or its subsidiaries to terminate your employment or your right to resign from employment. This Award is intended to comply with the requirements of Section 162(m) of the Internal Revenue Code for performance-based compensation. 7 This Award is entered into and accepted in Carthage, Missouri. The Award will be governed by Missouri law, excluding any conflicts or choice... of law provision that might otherwise refer construction or interpretation of the Award to the substantive law of another jurisdiction. Any action or proceeding arising from or related to this Award is subject to the exclusive venue and subject matter jurisdiction of the Circuit Court for Jasper County, Missouri or the United States District Court for the Western District of Missouri, and the parties agree to submit to the jurisdiction of such Courts. The parties also waive the defense of an inconvenient forum and agree not to seek any change of venue from such Courts. 8 EX-10.7 6 d471937dex107.htm EXHIBIT 10.7 - 2018 EX-10.8 4 d785510dex108.htm 2020 FORM OF PERFORMANCE STOCK UNIT AWARD AGREEMENT 2020 FORM OF PERFORMANCE STOCK UNIT AWARD AGREEMENT EXHIBIT 10.7 - 2018 Form of Performance Stock Unit Award Agreement Exhibit 10.7 2018 10.8 2020 FORM OF PERFORMANCE STOCK UNIT AWARD AGREEMENT Relative TSR and EBIT CAGR [3-Year Performance Period] [Name] Congratulations! On , [2018], _____________, [2020], Leggett & Platt, Incorporated (the "Company") granted you a Performance Stock Unit Award (the "Award") under the Company's Flexible Stock Plan (the "Plan"). The Award is granted subject to the enclosed Terms and Conditions – [2020-2022] Performance Stock Unit Award ([2018-2020]) – Relative TSR and EBIT CAGR (the "Terms and Conditions"). You have been granted a base award of [ ] Performance Stock Units. The number of PSUs for your base Award was determined by multiplying your current annual base salary by your Award multiple (set by Senior Management and approved by the Compensation Committee), Committee) and dividing this amount by the average closing share price of the Company's stock for the 10 business trading days following the [2017] [2019] fourth quarter earnings release. A percentage of your base award will vest on December 31, [2020] [2022] and will be paid out by March 15, [2021]. [2023]. Fifty percent of your vested Award will be paid out in cash, and the Company intends to pay out the remaining 50% in shares of the Company's common stock. As described in the Terms and Conditions, the payout you ultimately receive from this Award depends on the level of achievement of two performance objectives: 50% of your Award will vest based upon on the Company's Total Shareholder Return compared to our Peer Group ("Relative TSR"), and 50% of your Award will vest based upon [the Company's] [the XXX Segment's] compound annual growth rate of Earnings Before Interest and Taxes ("EBIT CAGR"), according to the schedules below. Relative TSRPercentile Relative TSRVesting % EBIT CAGR% EBIT CAGRVesting % 25% 25% 30% 35% 35% 45% 40% 55% 45% 65% 50% 75% 2% 75% 55% 100% 4% 100% 60% 125% 6% 125% 65% 150% 8% 150% 70% 175% 10% 175% 75% 200% 12% 200% You are not required to accept the Award. By signing below, you confirm that you understand and agree that this Award of Performance Stock Units is granted in exchange for you agreeing to the Terms and Conditions and the Plan, that the Terms and Conditions and the Plan are included in this Agreement by reference, and that you are not otherwise entitled to the Award. A summary of the Plan and the Company's most recent Annual Report to Shareholders are available upon request to the Corporate Human Resources Department. Accepted and Agreed: Date: This award letter and the enclosed materials are part of a prospectus covering securities that have been registered under the Securities Act of 1933. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved these securities or determined if this prospectus is truthful or complete. TERMS AND CONDITIONS - – PERFORMANCE STOCK UNIT AWARD [2018-2020] Relative TSR and EBIT CAGR [2020-2022] 1. Performance Period. Your payout under this Performance Stock Unit Award (the "Award") will depend on (i) the base award shown on your Award Agreement and (ii) the Company's, or applicable Segment's, performance during the three-year period beginning January 1, [2018] [2020] and ending December 31, [2020] [2022] (the "Performance Period"). View More