FORM OF LYDALL, INC. PERFORMANCE SHARE AWARD AGREEMENT (One–Year Period)Performance Share Award Agreement • February 26th, 2010 • Lydall Inc /De/ • Motor vehicle parts & accessories • Connecticut
THIS PERFORMANCE SHARE AWARD AGREEMENT (this “Agreement”) is made between Lydall, Inc., a Delaware corporation (the “Company”), and the recipient (the “Recipient”) of Performance Shares (the “Award”) granted under the Amended and Restated Lydall 2003 Stock Incentive Compensation Plan (the “Plan”). The specific terms and conditions of the Award, including (i) the date of grant of the Award (the “Date of Grant”), (ii) the number of Performance Shares awarded, (iii) the Performance Period applicable to the Award, (iv) the Performance Objectives applicable to the Award, and (v) the time-based vesting requirements for the Award, are set forth in the award letter (the “Award Letter”), dated , from the President and Chief Executive Officer of the Company to the Recipient. The terms and conditions set forth in the Award Letter, together with the applicable terms and conditions set forth in this Agreement and the Plan, will be binding upon the Recipient’s acceptance of the Award in accordance w
