Exhibit 10.1
SUPERIOR ESSEX
INC.
PERFORMANCE-CONTINGENT SHARE
AWARD CERTIFICATE
Non-transferable
G R
A N T T O
(“Grantee”)
by Superior Essex Inc.
(the “Company”) of the right (“Performance
Shares”) to receive shares of the Company’s $.01 par
value common stock (“Shares”), pursuant to and subject
to the provisions of the Superior Essex Inc. 2005 Incentive Plan
(the “Omnibus Plan”) and to the terms and conditions
set forth on the following pages of this award certificate (this
“Certificate”).
The target number of
Shares subject to this award is
(the “Target Award”). Depending on the
Company’s level of attainment of the performance targets set
forth in Exhibit A for the period beginning January 1, 2007
and ending December 31, 2009 (the “Performance
Period”), Grantee may earn up to 200% of the Target Award, as
set forth in greater detail in Exhibit A , subject to
availability of shares under the Omnibus Plan and in reliance on
Compensation Committee Resolution 07-14 which reserves the maximum
number of shares for this Award upon shareowner approval of
amendments to the Omnibus Plan at the 2007 annual meeting of
shareowners.
By accepting this
award, Grantee shall be deemed to have agreed to the terms and
conditions of this Certificate and the Plan.
IN WITNESS WHEREOF,
Superior Essex Inc., acting by and through its duly authorized
officers, has caused this Certificate to be executed as of the
Grant Date.
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SUPERIOR ESSEX INC.
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Grant Date:
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By:
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Accepted by
Grantee:
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Its: Authorized
Officer
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TERMS
AND CONDITIONS
1. Defined Terms
. Capitalized terms used herein and not otherwise defined
shall have the meanings assigned to such terms in the Plan.
In addition, certain terms are defined in Exhibit A
.
2. Vesting and
Settlement of Performance Shares . The Performance Shares
have been credited to a bookkeeping account on behalf of
Grantee. The Performance Shares will vest and will be
converted to actual Shares of Stock (one Share per vested
Performance Share) on the dates and to the extent set forth in
Exhibit A.
If Grantee’s
employment terminates prior to the end of the Performance Period
for any reason other than as set forth in Exhibit A, Grantee shall
forfeit all right, title and interest in and to the Performance
Shares as of the date of such termination. In addition,
Grantee shall have no rights to any Performance Shares that fail to
vest in accordance with the terms of this Certificate.
Vested Performance
Shares will be registered on the books of the Company in
Grantee’s name on the earlier of March 15, 2010 (the
“Scheduled Pay-Out Date”) or the date of the occurrence
of a Change in Control (a “Pay-Out Date”), and will be
delivered to Grantee as soon as practical thereafter, in
certificated or uncertificated form, as Grantee shall
direct.
3. Determination of
Performance . The Committee shall, as soon as practicable
after the end of the Performance Period certify the Company’s
performance against the Performance Objectives, but in no event
later than (i) March 15, 2010 or (ii) the date of filing of the
Company’s Annual Report on Form 10-K for 2009. If for
any reason the Committee shall not have certified the
Company’s performance against the Performance Objectives by
March 15, 2010, the conversion date for vested Performance Shares
and the Pay-Out Date shall be delayed, in the discretion of the
Committee, for such period as may be required to avoid liability
under Code Section 409A, but shall in no event extend beyond
December 31, 2010.
4. No Dividend
Equivalents . Prior to a Pay-Out Date, Grantee shall have
no rights to cash dividends or other cash distributions paid with
respect to Performance Shares.
5. Limitation of
Rights . This Certificate does not confer to Grantee or
Grantee’s Beneficiary, executors or administrators any rights
of a stockholder of the Company unless and until Shares of Stock
are in fact registered in such person’s name on the Pay-Out
Date. Prior to the Pay-Out Date, no right or interest of
Grantee in Performance Shares may be pledged, encumbered, or
hypothecated or be made subject to any lien, obligation, or
liability of Grantee to any other party other than the Company or
an Affiliate. Prior to the Pay-Out Date, Performance Shares
may not be sold, assigned, transferred or otherwise disposed of by
Grantee other than by will or the laws of descent and
distribution.
Nothing in this
Certificate shall interfere with or limit in any way the right of
the Company or any Affiliate to terminate Grantee’s
employment at any time, nor confer upon Grantee any right to
continue in employment of the Company or any Affiliate.
6. Payment of
Taxes . Grantee will, no later than the date as of which
any amount related to the Performance Shares first becomes
includable in Grantee’s gross income for federal income tax
purposes, pay to the Company, or make other arrangements
satisfactory to the Company regarding payment of, any federal,
state and local taxes of any kind required by law to be withheld
with respect to such amount. The Committee hereby approves
Grantee’s surrender to the Company of a number of Shares
earned under this award (or the withholding of such Shares) as
necessary to pay the minimum applicable withholding tax obligation,
and Grantee hereby consents to such method of tax withholding if
requested by the Company. The obligations of the Company
under this Certificate will be conditional on such payment or
arrangements, and the Company, and, where applicable, its
Affiliates will, to the extent permitted by law, have the right to
deduct any such taxes from any payment of any kind otherwise due to
Grantee.
7. Restrictions on
Issuance of Shares . If at any time the Committee shall
determine, in its discretion, that registration, listing or
qualification of the Shares of Stock underlying the Performance
Shares upon any securities exchange or similar self-regulatory
organization or under any federal or state securities law, or the
consent or approval of any governmental regulatory body, is
necessary or desirable as a condition to the settlement of the
Performance Shares, the Performance Shares will not be converted to
Shares in whole or in part unless and until such registration,
listing, qualification, consent or approval shall have been
effected or obtaine