FORM OF PERFORMANCE SHARE UNIT AWARD AGREEMENTPerformance Share Unit Award Agreement • April 28th, 2023 • Marine Products Corp • Ship & boat building & repairing • Georgia
This Performance Share Unit Award Agreement (this “Agreement”) evidences the grant by Marine Products Corporation, a Delaware corporation (the “Company”), pursuant to the Marine Products Corporation 2014 Stock Incentive Plan (the “Plan”), to _______________ (“Participant”), an employee of the Company, of a “target” amount of __________ Performance Share Units, with each such Performance Share Unit representing the right to receive, to the extent then vested, an amount payable in Stock, with such amount determined as provided in Section 3 below, subject to the terms and conditions of this Agreement. This award (this “Award”) of Performance Share Units is granted effective as of ________________ (the “Grant Date”).
