EXHIBIT 10.1
FORM OF
RESTRICTED STOCK
AGREEMENT
This Restricted Stock Agreement (the
“Agreement”) is made as of [date] between
Leggett & Platt, Incorporated, (the “Company”)
and [Director] (“you”).
1. Award. The Company has granted
you [
] shares of the Company’s $.01 par value common stock (the
“Award”) subject to the terms of this
Agreement.
2. Vesting. Except as provided in
Section 5, this Award will vest in its entirety the day before
the Company’s 2009 Annual Meeting of Shareholders (the
“Vesting Date”).
3. Stock Certificates. A certificate
for the shares represented by the Award, registered in your name,
will be issued and held in escrow by the Secretary of the Company
(the “Escrow Agent”) until the Award has vested in
accordance with Section 2 or upon the occurrence of one of the
events contemplated by Section 5. The Company may instruct its
transfer agent to place a restrictive legend on the certificate or
otherwise note in the Company’s records the restrictions on
transfer set forth in this Agreement. Upon vesting, the Escrow
Agent will deliver the certificate to you free of
restriction.
4. Termination of Service. Except as
provided in Section 5, if you cease to serve as a director of
the company for any reason before the Vesting Date, your right to
this Award will terminate immediately upon
