Form of Amended and Restated Change of Control Employment Agreement for Executive Officers

EX-10.27 9 a1027formofamended.htm EXHIBIT 10.27 a1027formofamended

Exhibit 10.27 (;FH[YZKWP(; ([KLELW $0(1'('$1'5(67$7(' &+$1*(2)&21752/(03/2<0(17$*5((0(17 AGREEMENT by and between BorgWarner Inc., a Delaware corporation (the “Company”) and WKH “Executive”) dated as of the GD\RI The Board of Directors of the Company (the “Board”), has determined that it is in the best interests of the &RPSDQ\DQGLWVVWRFNKROGHUVWRDVVXUHWKDWWKH&RPSDQ\ZLOOKDYHWKHFRQWLQXHGGHGLFDWLRQRIWKH([HFXWLYH QRWZLWKVWDQGLQJWKHSRVVLELOLW\WKUHDWRURFFXUUHQFHRID&KDQJHRI&RQWURODVGHILQHGEHORZRIWKH&RPSDQ\7KH %RDUGEHOLHYHVLWLVLPSHUDWLYHWRGLPLQLVKWKHLQHYLWDEOHGLVWUDFWLRQRIWKH([HFXWLYHE\YLUWXHRIWKHSHUVRQDO uncertainties and risks created by a pending or threatened Change of Control and to encourage the Executive’s full DWWHQWLRQDQGGHGLFDWLRQWRWKH&RPSDQ\FXUUHQWO\DQGLQWKHHYHQWRIDQ\WKUHDWHQHGRUSHQGLQJ&KDQJHRI&RQWURO DQGWRSURYLGHWKH([HFXWLYHZLWKFRPSHQVDWLRQDQGEHQHILWVDUUDQJHPHQWVXSRQD&KDQJHRI&RQWUROZKLFKHQVXUH WKDWWKHFRPSHQVDWLRQDQGEHQHILWVH[SHFWDWLRQVRIWKH([HFXWLYHZLOOEHVDWLVILHGDQGZKLFKDUHFRPSHWLWLYHZLWK WKRVHRIRWKHUFRUSRUDWLRQV7KHUHIRUHLQRUGHUWRDFFRPSOLVKWKHVHREMHFWLYHVDQGLQFRQVLGHUDWLRQRIWKH Executive’s covenants in Section WKH%RDUGKDVFDXVHGWKH&RPSDQ\WRHQWHULQWRWKLV$JUHHPHQW 12:7+(5()25(,7,6+(5(%<$*5(('$6)2//2:6 &HUWDLQ'HILQLWLRQV D The “Effective Date” shall mean the first date during the Change of Control Period DVGHILQHGLQ6HFWLRQERQZKLFKD&KDQJHRI&RQWURODVGHILQHGLQ6HFWLRQRFFXUV$Q\WKLQJLQWKLV $JUHHPHQWWRWKHFRQWUDU\QRWZLWKVWDQGLQJLIL the Executive’s employment with the Company is terminated by WKH&RPSDQ\LLWKH'DWHRI7HUPLQDWLRQLVSULRUWRWKHGDWHRQZKLFKD&KDQJHRI&RQWURORFFXUVDQGLLLLWLV UHDVRQDEO\GHPRQVWUDWHGE\WKH([HFXWLYHWKDWVXFKWHUPLQDWLRQRIHPSOR\PHQW$ZDVDWWKHUHTXHVWRIDWKLUG SDUW\WKDWKDVWDNHQVWHSVUHDVRQDEO\FDOFXODWHGWRHIIHFWD&KDQJHRI&RQWURORU%RWKHUZLVHDURVHLQFRQQHFWLRQ ZLWKRUDQWLFLSDWLRQRID&KDQJHRI&RQWUROWKHQIRUDOOSXUSRVHVRIWKLV$JUHH ment the “Effective Date” shall mean WKHGDWHLPPHGLDWHO\SULRUWRVXFK'DWHRI7HUPLQDWLRQ E The “Change of Control Period” shall mean the period commencing on the date hereof and ending on the WKLUGDQQLYHUVDU\RIWKHGDWHKHUHRISURYLGHG KRZHYHU WKDWFRPPHQFLQJRQWKHGDWHRQH\HDUDIWHUWKHGDWHKHUHRI DQGRQHDFKDQQXDODQQLYHUVDU\RIVXFKGDWHVXFKGDWHDQGHDFKDQQXDODQQLYHUVDU\WKHUHRIVKDOOEHKHUHLQDIWHU referred to as the “Renewal Date”), unless previously terminated, the Chan JHRI&RQWURO3HULRGVKDOOEH DXWRPDWLFDOO\H[WHQGHGVRDVWRWHUPLQDWHWKUHH\HDUVIURPVXFK5HQHZDO'DWHXQOHVVDWOHDVWGD\VSULRUWRWKH 5HQHZDO'DWHWKH&RPSDQ\VKDOOJLYHQRWLFHWRWKH([HFXWLYHWKDWWKH&KDQJHRI&RQWURO3HULRGVKDOOQRWEHVR H[WHQGHG &KDQJHRI&RQWURO . For the purpose of this Agreement, a “Change of Control” shall mean: D7KHDFTXLVLWLRQE\DQ\LQGLYLGXDOHQWLW\RUJURXSZLWKLQWKHPHDQLQJRI6HFWLRQGRUGRI WKH6HFXULWLHV([FKDQJH$FWRIDV

amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of 5XOHG SURPXOJDWHGXQGHUWKH([FKDQJH$FWRIRUPRUHRIHLWKHULWKHWKHQRXWVWDQGLQJVKDUHVRIFRPPRQVWRFNRI the Company (the “Outstanding Company Common Stock”) or (ii) WKHFRPELQHGYRWLQJSRZHURIWKHWKHQ RXWVWDQGLQJYRWLQJVHFXULWLHVRIW he Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); SURYLGHG KRZHYHU WKDWIRUSXUSRVHVRIWKLVVXEVHFWLRQDWKHIROORZLQJDFTXLVLWLRQV VKDOOQRWFRQVWLWXWHD&KDQJHRI&RQWURO:DQ\DFTXLVLWLRQGLUHFWO\IURPWKH&RPSDQ\;DQ\DFTXLVLWLRQE\WKH &RPSDQ\<DQ\DFTXLVLWLRQE\DQ\HPSOR\HHEHQHILWSODQRUUHODWHGWUXVWVSRQVRUHGRUPDLQWDLQHGE\WKH &RPSDQ\RUDQ\HQWLW\FRQWUROOHGE\WKH&RPSDQ\=DQ\DFTXLVLWLRQSXUVXDQWWRDWUDQVDFWLRQZKLFKFRPSOLHV ZLWKFODXVHVLLLDQGLLLRIVXEVHFWLRQFRIWKLV6HFWLRQ E Individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason WRFRQVWLWXWHDWOHDVWDPDMRULW\RIWKH%RDUGSURYLGHG KRZHYHU WKDWDQ\LQGLYLGXDOEHFRPLQJDGLUHFWRUVXEVHTXHQW to the date hereof whose election, or nomination for election by the Company’s stockholders, was approved by a YRWHRIDWOHDVWDPDMRULW\RIWKHGLUHFWRUVWKHQFRPSULVLQJWKH,QFXPEHQW%RDUGVKDOOEHFRQVLGHUHGDVWKRXJKVXFK LQGLYLGXDOZHUHDPHPEHURIWKH,QFXPEHQW%RDUGEXWH[FOXGLQJIRUWKLVSXUSRVHDQ\VXFKLQGLYLGXDOZKRVHLQLWLDO DVVXPSWLRQRIRIILFHRFFXUVDVDUHVXOWRIDQDFWXDORUWKUHDWHQHGHOHFWLRQFRQWHVWZLWKUHVSHFWWRWKHHOHFWLRQRU UHPRYDORIGLUHFWRUVRURWKHUDFWXDORUWKUHDWHQHGVROLFLWDWLRQRISUR[LHVRUFRQVHQWVE\RURQEHKDOIRID3HUVRQRWKHU WKDQWKH%RDUG F&RQVXPPDWLRQE\WKH&RPSDQ\RIDUHRUJDQL]DWLRQVWDWXWRU\VKDUHH[FKDQJHPHUJHURUFRQVROLGDWLRQRU VLPLODUWUDQVDFWLRQLQYROYLQJWKH&RPSDQ\RUDQ\RILWVVXEVLGLDULHVRUVDOHRURWKHUGLVSRVLWLRQRIDOORUVXEVWDQWLDOO\ DOORIWKHDVVHWVRIWKH&RPSDQ\RUWKHDFTXLVLWLRQRIDVVHWVRUVWRFNRIDQRWKHUHQWLW\E\WKH&RPSDQ\RUDQ\RILWV subsidiaries (each of the foregoing, a “Business Combination”), in each case, unless, following such Business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or substantially all of the Company’s assets eith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date (the “Employment Period”). The Employment Period shall terminate upon the Executive’s termination of HPSOR\PHQWIRUDQ\UHDVRQ 7HUPVRI(PSOR\PHQW D3RVLWLRQDQG'XWLHV L'XULQJWKH(PSOR\PHQW3HULRG$WKH([HFX tive’s SRVLWLRQLQFOXGLQJVWDWXVRIILFHVWLWOHVDQGUHSRUWLQJUHTXLUHPHQWVDXWKRULW\GXWLHVDQGUHVSRQVLELOLWLHVVKDOOEHDW OHDVWFRPPHQVXUDWHLQDOOPDWHULDOUHVSHFWVZLWKWKHPRVWVLJQLILFDQWRIWKRVHKHOGH[HUFLVHGDQGDVVLJQHGWRWKH ([HFXWLYHDWDQ\WLPHGXULQJWKHGD\SHULRGLPPHGLDWHO\SUHFHGLQJWKH(IIHFWLYH'DWHDQG% the Executive’s VHUYLFHVVKDOOEHSHUIRUPHGDWWKHORFDWLRQZKHUHWKH([HFXWLYHZDVHPSOR\HGLPPHGLDWHO\SUHFHGLQJWKH(IIHFWLYH 'DWHRUDQ\RIILFHRUORFDWLRQOHVVWKDQPLOHVIURPVXFKORFDWLRQ LL'XULQJWKH(PSOR\PHQW3HULRGDQGH[FOXGLQJDQ\SHULRGVRIYDFDWLRQDQGVLFNOHDYHWRZKLFKWKH ([HFXWLYHLVHQWLWOHGWKH([HFXWLYHDJUHHVWRGHYRWHUHDVRQDEOHDWWHQWLRQDQGWLPHGXULQJQRUPDOEXVLQHVVKRXUVWR WKHEXVLQHVVDQGDIIDLUVRIWKH&RPSDQ\DQGWRWKHH[WHQWQHFHVVDU\WRGLVFKDUJHWKHUHVSRQVLELOLWLHVDVVLJQHGWRWKH Executive hereunder, to use the Executive’s reasonable best efforts to perform faithfully and efficiently such UHVSRQVLELOLWLHV'XULQJWKH(PSOR\PHQW3HULRGLWVKDOOQRWEHDYLRODWLRQRIWKLV$JUHHPHQWIRUWKH([HFXWLYHWR$ VHUYHRQFRUSRUDWHFLYLFRUFKDULWDEOHERDUGVRUFRPPLWWHHV%GHOLYHUOHFWXUHVIXOILOOVSHDNLQJHQJDJHPHQWVRU WHDFKDWHGXFDWLRQDOLQVWLWXWLRQVDQG&PDQDJHSHUVRQDOLQYHVWPHQWVVRORQJDVVXFKDFWLYLWLHVGRQRWVLJQLILFDQWO\ interfere with the performance of the Executive’s responsibilities as an employee of the Company in accordance ZLWKWKLV$JUHHPHQW,WLVH[SUHVVO\XQGHUVWRRGDQGDJUHHGWKDWWRWKHH[WHQWWKDWDQ\VXFKDFWLYLWLHVKDYHEHHQ FRQGXFWHGE\WKH([HFXWLYHSULRUWRWKH(IIHFWLYH'DWHWKHFRQWLQXHGFRQGXFWRIVXFKDFWLYLWLHVRUWKHFRQGXFWRI DFWLYLWLHVVLPLODULQQDWXUHDQGVFRSHWKHUHWRVXEVHTXHQWWRWKH(IIHFWLYH'DWHVKDOOQRWWKHUHDIWHUEHGHHPHGWR interfere with the performance of the Executive’s responsibilities to the Company. E&RPSHQVDWLRQ L%DVH6DODU\ 'XULQJWKH(PSOR\PHQW3HULRGWKH([HFXWLYHVKDOOUHFHLYHDQDQQXDOEDVH salary (“Annual Base Salary”), wh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

$JUHHPHQW$QQXDO%DVH6DODU\VKDOOQRWEHUHGXFHGDIWHUDQ\VXFKLQFUHDVHDQGWKHWHUP$QQXDO%DVH6DODU\DV XWLOL]HGLQWKLV$JUHHPHQWVKDOOUHIHUWR$QQXDO%DVH6DODU\DVVRLQFUHDVHG$VXVHGLQWKLV$JUHHPHQWWKHWHUP “affiliated companies” shall include any company controlled by, controlling or under common control with the &RPSDQ\ LL$QQXDO%RQXV ,QDGGLWLRQWR$QQXDO%DVH6DODU\WKH([HFXWLYHVKDOOEHDZDUGHGIRUHDFKILVFDO\HDU ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to the Executive’s average of the bonuses paid or payable under the Company’s Management Incentive Bonus Plan, or any FRPSDUDEOHDQQXDOERQXVXQGHUDQ\SUHGHFHVVRURUVXFFHVVRUSODQLQUHVSHFWRIWKHODVWWKUHHIXOOILVFDO\HDUVSULRU WRWKH(IIHFWLYH'DWHRULIWKH([HFXWLYHZDVILUVWHPSOR\HGE\WKH&RPSDQ\DIWHUWKHEHJLQQLQJRIWKHHDUOLHVWRI VXFKWKUHHILVFDO\HDUVWKHDYHUDJHRIWKHERQXVHVSDLGRUSD\DEOHXQGHUVXFKSODQVLQUHVSHFWRIWKHILVFDO\HDUV HQGLQJEHIRUHWKH(IIHFWLYH'DWHGXULQJZKLFKWKH([HFXWLYHZDVHPSOR\HGE\WKH&RPSDQ\ZLWKVXFKERQXVEHLQJ DQQXDOL]HGZLWKUHVSHFWWRDQ\VXFKILVFDO\HDULIWKH([HFXWLYHZDVQRWHPSOR\HGE\WKH&RPSDQ\IRUWKHZKROHRI such fiscal year) (the “Recent Average Bonus”). If the Executive has not been eligible to earn such a bonus for any SHULRGSULRUWR the Effective Date, the “Recent Annual Bonus” shall mean the Executive’s target annual bonus for WKH\HDULQZKLFKWKH(IIHFWLYH'DWHRFFXUV(DFKVXFK$QQXDO%RQXVVKDOOEHSDLGQRODWHUWKDQWZRDQGDKDOI PRQWKVDIWHUWKHHQGRIWKHILVFDO\HDUIRUZKLFKWKH$QQXDO%RQXVLVDZDUGHGXQOHVVWKH([HFXWLYHVKDOOHOHFWWR GHIHUWKHUHFHLSWRIVXFK$QQXDO%RQXVSXUVXDQWWRDQDUUDQJHPHQWWKDWPHHWVWKHUHTXLUHPHQWVRI6HFWLRQ$RI the Internal Revenue Code of 1986, as amended (the “Code”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uring the Employment Period, the Executive and/or the Executive’s family, as WKHFDVHPD\EHVKDOOEHHOLJLEOHIRUSDUWLFLSDWLRQLQDQGVKDOOUHFHLYHDOOEHQHILWVXQGHUZHOIDUHEHQHILWSODQV SUDFWLFHVSROLFLHVDQGSURJUDPVSURYLGHGE\WKH&RPSDQ\DQGLWVDIILOLDWHGFRPSDQLHVLQFOXGLQJZLWKRXW OLPLWDWLRQPHGLFDOSUHVFULSWLRQGHQWDOGLVDELOLW\VDODU\FRQWLQXDQFHHPSOR\HHOLIHJURXSOLIHDFFLGHQWDOGHDWK and travel accident insurance plans and programs) (“Company Welfare Benefit Plans”) to the extent applicable JHQHUDOO\WRRWKHUSHHUH[HFXWLYHVRIWKH&RPSDQ\DQGLWVDIILOLDWHGFRPSDQLHVEXWLIWKH&RPSDQ\:HOIDUH%HQHILW 3ODQVSURYLGHWKH([HFXWLYHZLWKEHQHILWVZKLFKDUHOHVVIDYRUDEOHLQWKHDJJUHJDWHWKDQWKHPRVWIDYRUDEOHRIVXFK SODQVSUDFWLFHVSROLFLHVDQGSURJUDPVLQHIIHFWIRUWKH([HFXWLYHDWDQ\WLPHGXULQJWKHGD\SHULRGLPPHGLDWHO\ SUHFHGLQJWKH

Effective Date (the “Former Company Welfare Benefit Plans”), the Company shall provide the Executive with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he Executive’s employment shall terminate DXW omatically upon the Executive’s death during the Employment Period. If the Company determines in good faith WKDWWKH'LVDELOLW\RIWKH([HFXWLYHKDVRFFXUUHGGXULQJWKH(PSOR\PHQW3HULRGSXUVXDQWWRWKHGHILQLWLRQRI 'LVDELOLW\VHWIRUWKEHORZLWPD\JLYHWRWKH([HFXWLYHZULWWHQQRWLFHLQDFFRUGDQFHZLWK6HFWLRQERIWKLV Agreement of its intention to terminate the Executive’s employment.

In such event, the Executive’s employment with the Company shall terminate effective on the 30th day after receipt of such notice by the Executive (the “Disability Effective Date”), SURYLGHG WKDWZLWKLQWKHGD\VDIWHUVXFK UHFHLSWWKH([HFXWLYHVKDOOQRWKDYHUHWXUQHGWRIXOO time performance of the Executive’s duties. For purposes of this Agreement, “Disability” shall mean the absence of the Executive from the Executive’s duties ZLWKWKH&RPSDQ\RQ DIXOOWLPHEDVLVIRUFRQVHFXWLYHEXVLQHVVGD\VRUIRUEXVLQHVVGD\VLQDQ\FRQVHFXWLYHGD\VDVDUHVXOW RILQFDSDFLW\GXHWRPHQWDORUSK\VLFDOLOOQHVVZKLFKLVGHWHUPLQHGWREHWRWDODQGSHUPDQHQWE\DSK\VLFLDQVHOHFWHG by the Company or its insurers and acceptable to the Executive or the Executive’s legal representative. E&DXVH . The Company may terminate the Executive’s employment during the Employment Period with or ZLWKRXW&DXVH)RUSXUSRVHVRIWKLV$J reement, “Cause” shall mean: (i) the willful and continued failure of the Executive to perform substantially the Executive’s duties with the &RPSDQ\RURQHRILWVDIILOLDWHVRWKHUWKDQDQ\VXFKIDLOXUHUHVXOWLQJIURPLQFDSDFLW\GXHWRSK\VLFDORUPHQWDO illness or following the Executive’s delivery of a Notice of Termination for Good Reason), after a written demand IRUVXEVWDQWLDOSHUIRUPDQFHLVGHOLYHUHGWRWKH([HFXWLYHE\WKH%RDUGRUWKH&KLHI([HFXWLYH2IILFHURIWKH &RPSDQ\ZKLFKVSHFLILFDOO\LGHQWLILHVWKHPDQQHULQZKLFKWKH%RDUGRU&KLHI([HFXWLYH2IILFHURIWKH&RPSDQ\ believes that the Executive has not substantially performed the Executive’s duties, or LLWKHZLOOIXOHQJDJLQJE\WKH([HFXWLYHLQLOOHJDOFRQGXFWRUJURVVPLVFRQGXFWZKLFKLVPDWHULDOO\DQG GHPRQVWUDEO\LQMXULRXVWRWKH&RPSDQ\ For purposes of this provision, no act or failure to act, on the part of the Executive, shall be considered “willful” XQOHVVLWLVGRQHRURPLWWHGWREHGRQHE\WKH([HFXWLYHLQEDGIDLWKRUZLWKRXWUHDVRQDEOHEHOLHIWKDWWKH Executive’s action or omission was in the best interests of the Company. Any act, or failure to act, based upon DXWKRULW\JLYHQSXUVXDQWWRDUHVROXWLRQGXO\DGRSWHGE\WKH%RDUGRULIWKH&RPSDQ\LVQRWWKHXOWLPDWHSDUHQW HQWLW\DQGLVQRWSXEOLFO\WUDGHGWKHERDUGRIGLUHFWRUVRUIRUDQRQFRUSRUDWHHQWLW\HTXLYDOHQWJRYHUQLQJERG\RI the ultimate parent of the Company (the “Applicable Board”)or upon the instructions of the Chief Executive Officer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

RSLQLRQRIWKH$SSOLFDEOH%RDUGWKH([HFXWLYHLVJXLOW\RIWKHFRQGXFWGHVFULEHGLQVXESDUDJUDSKLRULLDERYH DQGVSHFLI\LQJWKHSDUWLFXODUVWKHUHRILQGHWDLO F*RRG5HDVRQ . The Executive’s employment may be terminated by tKH([HFXWLYHIRU*RRG5HDVRQRUE\ the Executive voluntarily without Good Reason. For purposes of this Agreement, “Good Reason” shall mean: LWKHDVVLJQPHQWWRWKH([HFXWLYHRIDQ\GXWLHV inconsistent in any respect with the Executive’s position LQFOXGLQJVWDWXVRIILFHVWLWOHVDQGUHSRUWLQJUHTXLUHPHQWVDXWKRULW\GXWLHVRUUHVSRQVLELOLWLHVDVFRQWHPSODWHGE\ 6HFWLRQDRIWKLV$JUHHPHQWRUDQ\RWKHUGLPLQXWLRQLQVXFKSRVLWLRQDXWKRULW\GXWLHVRUUHVSRQVLELOLWLHV (whether or not occurring solely as a result of the Company’s ceasing to be a publicly traded entity), excluding for WKLVSXUSRVHDQLVRODWHGLQVXEVWDQWLDODQGLQDGYHUWHQWDFWLRQQRWWDNHQLQEDGIDLWKDQGZKLFKLVUHPHGLHGE\WKH &RPSDQ\SURPSWO\DIWHUUHFHLSWRIQRWLFHWKHUHRIJLYHQE\WKH([HFXWLYH LLDQ\IDLOXUHE\WKH&RPSDQ\WRFRPSO\ZLWKDQ\RIWKHSURYLVLRQVRI6HFWLRQERIWKLV$JUHHPHQWRWKHU WKDQDQLVRODWHGLQVXEVWDQWLDODQGLQDGYHUWHQWIDLOXUHQRWRFFXUULQJLQEDGIDLWKDQGZKLFKLVUHPHGLHGE\WKH &RPSDQ\SURPSWO\DIWHUUHFHLSWRIQRWLFHWKHUHRIJLYHQE\WKH([HFXWLYH (iii) the Company’s requiring the Executive to be based at any office or location other than as provided in 6HFWLRQ 4(a)(i)(B) hereof or the Company’s requiring the Executive to travel on Company business to a substantially JUHDWHUH[WHQWWKDQUHTXLUHGLPPHGLDWHO\SULRUWRWKH(IIHFWLYH'DWH LYDQ\SXUSRUWHGWHUPLQDWLRQE\WKH&RPSDQ\RIWKH([HFXWLYH ’s employment otherwise than as expressly SHUPLWWHGE\WKLV$JUHHPHQWRU YDQ\IDLOXUHE\WKH&RPSDQ\WRFRPSO\ZLWKDQGVDWLVI\6HFWLRQFRIWKLV$JUHHPHQW )RUSXUSRVHVRIWKLV6HFWLRQ 5(c), any good faith determination of “Good Reason” made by the Executive shall be FRQFOXVLYH G,QFDSDFLW\ . The Executive’s mental or physical incapacity following the occurrence of an event described DERYHLQFODXVHVLWKURXJKY of Section 5(c) shall not affect the Executive’s ability t RWHUPLQDWHHPSOR\PHQWIRU Good Reason and the Executive’s death following delivery of a Notice of Termination for Good Reason shall not DIIHFWWKHHQWLWOHPHQWRIWKHHVWDWHRIWKH([HFXWLYHWRVHYHUDQFHSD\PHQWVRUEHQHILWVSURYLGHGKHUHXQGHUXSRQD WHUPLQDWLRQRIHPSOR\PHQWIRU*RRG5HDVRQ H1RWLFHRI7HUPLQDWLRQ $Q\WHUPLQDWLRQRIHPSOR\PHQWE\WKH&RPSDQ\IRU&DXVHRUE\WKH([HFXWLYH IRU*RRG5HDVRQVKDOOEHFRPPXQLFDWHGE\1RWLFHRI7HUPLQDWLRQWRWKHRWKHUSDUW\KHUHWRJLYHQLQDFFRUGDQFH with Section 12(b) of this Agreement. For purposes of this Agreement, a “Notice of Termination” means a written QRWLFHZKLFKLLQGLFDWHVWKHVSHFLILFWHUPLQDWLRQSURYLVLRQLQWKLV$JUHHPHQW

UHOLHGXSRQLLWRWKHH[WHQWDSSOLFDEOHVHWVIRUWKLQUHDVRQDEOHGHWDLOWKHIDFWVDQGFLUFXPVWDQFHVFODLPHGWR provide a basis for termination of the Executive’ VHPSOR\PHQWXQGHUWKHSURYLVLRQVRLQGLFDWHGDQGLLLLIWKH'DWH RI7HUPLQDWLRQDVGHILQHGEHORZLVRWKHUWKDQWKHGDWHRIUHFHLSWRIVXFKQRWLFHVSHFLILHVWKH'DWHRI7HUPLQDWLRQ ZKLFKGDWHVKDOOEHQRWPRUHWKDQWKLUW\GD\VDIWHUWKHJLYLQJRIVXFKQRWLFH7KHIDLOXUHE\WKH([HFXWLYHRUWKH &RPSDQ\WRVHWIRUWKLQWKH1RWLFHRI7HUPLQDWLRQDQ\IDFWRUFLUFXPVWDQFHZKLFKFRQWULEXWHVWRDVKRZLQJRI*RRG 5HDVRQRU&DXVHVKDOOQRWZDLYHDQ\ULJKWRIWKH([HFXWLYHRUWKH&RPSDQ\UHVSHFWLYHO\KHUHXQGHURUSUHFOXGHWKH Executive or the Company, respectively, from asserting such fact or circumstance in enforcing the Executive’s or the Company’s rights hereunder. I'DWHRI7HUPLQDWLRQ . “Date of Termination” means (i) if the Executive’s empl R\PHQWLVWHUPLQDWHGE\WKH &RPSDQ\IRU&DXVHRUE\WKH([HFXWLYHIRU*RRG5HDVRQWKHGDWHRIUHFHLSWRIWKH1RWLFHRI7HUPLQDWLRQRUDQ\ later date specified therein, as the case may be, (ii) if the Executive’s employment is terminated by the Company RWKHUWKDQIRU&DXVHRU'LVDELOLW\WKHGDWHRQZKLFKWKH&RPSDQ\QRWLILHVWKH([HFXWLYHRIVXFKWHUPLQDWLRQLLLLI WKH([HFXWLYHUHVLJQVZLWKRXW*RRG5HDVRQWKHGDWHRQZKLFKWKH([HFXWLYHQRWLILHVWKH&RPSDQ\RIVXFK WHUPLQDWLRQDQGLYLIWKH([HFXWL ve’s employment is terminated by reason of death or Disability, the date of death RIWKH([HFXWLYHRUWKH'LVDELOLW\(IIHFWLYH'DWHDVWKHFDVHPD\EH1RWZLWKVWDQGLQJWKHIRUHJRLQJLQQRHYHQW VKDOOWKH'DWHRI7HUPLQDWLRQRFFXUXQWLOWKH([HFXWLYHH[SH riences a “separation from service” within the meaning RI6HFWLRQ$RIWKH&RGHDQGQRWZLWKVWDQGLQJDQ\WKLQJFRQWDLQHGKHUHLQWRWKHFRQWUDU\WKHGDWHRQZKLFKVXFK separation from service takes place shall be the “Date of Termination.” 2EOLJDWLRQVRIWKH&RPSDQ\XSRQ7HUPLQDWLRQ D*RRG5HDVRQ2WKHU7KDQIRU&DXVH'HDWKRU 'LVDELOLW\ . If, during the Employment Period, the Company shall terminate the Executive’s employment other than IRU&DXVH'HDWKRU'LVDELOLW\RUWKH([HFXWLYHVKDOOWHUPLQDWHHPSOR\PHQWIRU*RRG5HDVRQ LWKH&RPSDQ\VKDOOSD\WRWKH([HFXWLYHLQDOXPSVXPLQFDVKZLWKLQGD\VDIWHUWKH'DWHRI7HUPLQDWLRQ WKHDJJUHJDWHRIWKHIROORZLQJDPRXQWV $WKHVXPRI the Executive’s Annual B DVH6DODU\WKURXJKWKH'DWHRI7HUPLQDWLRQWRWKHH[WHQWQRW WKHUHWRIRUHSDLG the Executive’s business expenses that are reimbursable pursuant to Section EYEXWKDYH QRWEHHQUHLPEXUVHGE\WKH&RPSDQ\DVRIWKH'DWHRI7HUPLQDWLRQWKH([HFXW ive’s Annual Bonus for the fiscal \HDULPPHGLDWHO\SUHFHGLQJWKHILVFDO\HDULQZKLFKWKH'DWHRI7HUPLQDWLRQRFFXUVLIVXFKERQXVKDVEHHQ GHWHUPLQHGEXWQRWSDLGDVRIWKH'DWHRI7HUPLQDWLRQDQ\DFFUXHGYDFDWLRQSD\WRWKHH[WHQWQRWWKHUHWRIRUH SDLGWKHVXPRIWKHDPRXQWVGHVFULEHGLQVXEFODXVHV and (4), the “Accrued Obligations”) and (5) DQ DPRXQWHTXDOWRWKHSURGXFWRI[WKH5HFHQW$YHUDJH%RQXVDQG\DIUDFWLRQWKHQXPHUDWRURIZKLFKLVWKH QXPEHURIGD\VLQWKHFXUUHQWILVFDO\HDUWKURXJKWKH'DWHRI7HUPLQDWLRQDQGWKHGHQRPLQDWRURIZKLFKLVWKH “Pro Rata Bonus”); SURYLGHG WKDWQRWZLWKVWDQGLQJWKHIRUHJRLQJLIWKH([HFXWLYHKDVPDGHDQLUUHYRFDEOHHOHFWLRQ XQGHUDQ\GHIHUUHGFRPSHQVDWLRQDUUDQJHPHQWVXEMHFWWR6HFWLRQ$RIWKH&RGHWRGHIHUDQ\SRUWLRQRIWKH $QQXDO%DVH6DODU\RUWKH$QQXDO%RQXVGHVFULEHGLQFODXVHVRUDERYH

WKHQIRUDOOSXUSRVHVRIWKLV6HFWLRQLQFOXGLQJZLWKRXWOLPLWDWLRQ6HFWLRQVEWKURXJKGVXFKGHIHUUDO HOHFWLRQDQGWKHWHUPVRIWKHDSSOLFDEOHDUUDQJHPHQWVKDOODSSO\WRWKHVDPHSRUWLRQRIWKHDPRXQWGHVFULEHGLQVXFK FODXVH or clause (3), and such portion shall not be considered as part of the “Accrued Obligations” but shall instead be an “Other Benefit” (as defined below); and %WKHDPRXQWHTXDOWRWKHSURGXFWRI>WZRWKUHH@DQGWKHVXPRI (x) the Executive’s Annual Base 6DODU\DQG\WKH5HFHQW$YHUDJH%RQXVDQG &DQDPRXQWHTXDOWRWKHSURGXFWRI>WZRWKUHH@DQGWKHVXPRIDWKH&RPSDQ\5HWLUHPHQW &RQWULEXWLRQVDVGHILQHGLQWKH%RUJ:DUQHU,QF5HWLUHPHQW6D vings Plan (“RSP”)) that would have been made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b)(ii) of this Agreement (“Limitations” meaning limitations contained in the RSP, the Em SOR\HH Retirement Income Security Act (“ERISA”) or the Code (including without limitation the $150,000 cap on &RPSHQVDWLRQ (ii) for two years following the Date of Termination (the “Benefits Period”), the Company shall provide the ([HFXWLYH and his eligible dependents with medical and dental insurance coverage (the “Health Care Benefits”) and OLIHLQVXUDQFHEHQHILWVQROHVVIDYRUDEOHWRWKRVHZKLFKWKH([HFXWLYHDQGKLVVSRXVHDQGHOLJLEOHGHSHQGHQWVZHUH UHFHLYLQJLPPHGLDWHO\SULRUWRWKH'DWHRI7HUPLQDWLRQRULIPRUHIDYRUDEOHWRVXFKSHUVRQVDVLQHIIHFWJHQHUDOO\ DWDQ\WLPHWKHUHDIWHUZLWKUHVSHFWWRRWKHUSHHUH[HFXWLYHVRIWKH&RPSDQ\DQGWKH$IILOLDWHG&RPSDQLHVSURYLGHG KRZHYHU WKDWWKH+HDOWK&DUH%HQHILWVVKDOOEHSURYLGHGGXULQJWKH%HQHILWV3HULRGLQVXFKDPDQQHUWKDWVXFK benefits are excluded from the Executive’s income for federal income tax purposes; SURYLGHG IXUWKHU KRZHYHU WKDW LIWKH([HFXWLYHEHFRPHVUHHPSOR\HGZLWKDQRWKHUHPSOR\HUDQGLVHOLJLEOHWRUHFHLYHKHDOWKFDUHEHQHILWVXQGHU DQRWKHUHPSOR\HUSURYLGHGSODQWKHKHDOWKFDUHEHQHILWVSURYLGHGKHUHXQGHUVKDOOEHVHFRQGDU\WRWKRVHSURYLGHG XQGHUVXFKRWKHUSODQGXULQJVXFKDSSOLFDEOHSHULRGRIHOLJLELOLW\7KHUHFHLSWRIWKH+HDOWK&DUH%HQHILWVVKDOOEH FRQGLWLRQHGXSRQWKH([HFXWLYHFRQWLQXLQJWRSD\WKH$SSOLFDEOH&REUD3UHPLXPZLWKUHVSHFWWRWKHOHYHORI coverage that the Executive has elected for the Executive and the Executive’s spouse and eligible dependents ( e.g. VLQJOHVLQJOHSOXVRQHRUIDPLO\'XULQJWKHSRUWLRQRIWKH%HQHILWV3HULRGLQZKLFKWKH([HFXWLYHDQGKLVHOLJLEOH GHSHQGHQWVFRQWLQXHWRUHFHLYHFRYHUDJHXQGHUWKH

Company’s Health Care Benefits plans, the Company shall pay to the Executive a monthly amount equal to the $SSOLFDEOH&2%5$3UHPLXPLQUHVSHFWRIWKHPD[LPXPOHYHORIFRYHUDJHWKDWWKH([HFXWLYHFRXOGKDYHHOHFWHGWR receive for the Executive and the Executive’s spouse and eligible dependents if the Executive were still an employee RIWKH&RPSDQ\GXULQJWKH%HQHILWV3HULRG e.g. VLQJOHVLQJOHSOXVRQHRUIDPLO\UHJDUGOHVVRIZKDWOHYHORI FRYHUDJHLVDFWXDOO\HOHFWHGZKLFKSD\PHQWVKDOOEHSDLGLQDGYDQFHRQWKHILUVWSD\UROOGD\RIHDFKPRQWK commencing with the month immediately following the Executive’s Date of Termination. The Company shall use LWVUHDVRQDEOHEHVWHIIRUWVWRHQVXUHWKDWIROORZLQJWKHHQGRI the Benefit Period, the Executive and the Executive’s VSRXVHDQGHOLJLEOHGHSHQGHQWVVKDOOEHHOLJLEOHWRHOHFWFRQWLQXHGKHDOWKFRYHUDJHSXUVXDQWWR6HFWLRQ%RIWKH Code or other applicable law (“COBRA Coverage”), as if the Executive’s employment wi WKWKH&RPSDQ\KDG WHUPLQDWHGDVRIWKHHQGRIVXFKSHULRG)RUSXUSRVHVRIGHWHUPLQLQJHOLJLELOLW\EXWQRWWKHWLPHRIFRPPHQFHPHQW of benefits) of the Executive for retiree welfare benefits pursuant to the Company’s retiree welfare benefit plans, if DQ\WKH([HFXWLYHVKDOOEHFRQVLGHUHGWRKDYHUHPDLQHGHPSOR\HGXQWLOWKHHQGRIWKH%HQHILW3HULRGDQGWRKDYH retired on the last day of such period. For purposes of this Provision, “Applicable COBRA Premium” means the PRQWKO\SUHPLXPLQHIIHFWIURPWLPHWRWLPHIRUFRYHUDJHSURYLGHGWRIRUPHUHPSOR\HHVXQGHU6HFWLRQ%RI WKH&RGHDQGWKHUHJXODWLRQVWKHUHXQGHUZLWKUHVSHFWWRDSDUWLFXODUOHYHORIFRYHUDJH e.g. VLQJOHVLQJOHSOXVRQHRU IDPLO\ LLLWKH&RPSDQ\VKDOODWLWVVROHH[SHQVHDVLQFXUUHGSURYLGHWKH([HFXWLYHZLWKRXWSODFHPHQWVHUYLFHVWKH scope and provider of which shall be selected by the Executive in the Executive’s sole discretion, but the cost WKHUHRIVKDOOQRWH[FHHGSURYLGHG IXUWKHU WKDWVXFKRXWSODFHPHQWEHQHILWVVKDOOHQGQRWODWHUWKDQWKHODVW GD\RIWKHVHFRQGFDOHQGDU\HDUWKDWEHJLQVDIWHUWKH'DWHRI7HUPLQDWLRQDQG LYH[FHSWDVRWKHUZLVHVHWIRUWKLQWKHODVWVHQWHQFHRI6HFWLRQWRWKHH[WHQWQRWWKHUHWRIRUHSDLGRUSURYLGHG WKH&RPSDQ\VKDOOWLPHO\SD\RUSURYLGHWRWKH([HFXWLYHDQ\RWKHUDPRXQWVRUEHQHILWVUHTXLUHGWREHSDLGRU SURYLGHGRUZKLFKWKH([HFXWLYHLVHOLJLEOHWRUHFHLYHXQGHUDQ\SODQSURJUDPSROLF\RUSUDFWLFHRUFRQWUDFWRU DJUHHPHQWRIWKH&RPSDQ\DQGLWVDIILOLDWHGFRPSDQLHVVXFKRWKHUDPRXQWVDQGEHQHILWVVKDOOEHKHUHLQDIWHU referred to as the “Other Benefits”) in accordance with the terms of the underlying plans or agreements. 1RWZLWKVWDQGLQJWKHIRUHJRLQJSURYLVLRQVRI6HFWLRQDLDQG6HFWLRQDLLLQWKHHYHQWWKDWWKH([HFXWLYHLVD “specified employee” within the meaning of Section $RIWKH&RGHDVGHWHUPLQHGLQDFFRUGDQFHZLWKWKH PHWKRGRORJ\HVWDEOLVKHGE\WKH&RPSDQ\DVLQH ffect on the Date of Termination) (a “Specified Employee”), amounts that constitute “nonqualified deferred compensation” within the meaning of Section $RIWKH&RGHWKDW ZRXOGRWKHUZLVHEHSD\DEOHDQGEHQHILWVWKDWZRXOGRWKHUZLVHEHSURYLGHGXQGHU6HFWLRQDLRU6HFWLRQDLL GXULQJWKHVL[PRQWKSHULRGLPPHGLDWHO\IROORZLQJWKH'DWHRI7HUPLQDWLRQRWKHUWKDQWKH$FFUXHG2EOLJDWLRQV VKDOOLQVWHDGEHSDLGZLWKLQWHUHVWRQDQ\GHOD\HGSD\PHQWDWWKHDSSOLFDEOHIHGHUDOUDWHSURYLGHGIRULQ 6HFWLRQ 7872(f)(2)(A) of the Code (“Interest”) determined as of the Date of Termination,

RUSURYLGHGRQWKHILU st business day after the date that is six months following the Executive’s Date of Termination (the “Delayed Payment Date”); E'HDWK . If the Executive’s employment is terminated by reason of the Executive’s death during the (PSOR\PHQW3HULRG the Company shall provide the Executive’s estate or beneficiaries with the Accrued Obligations DQGWKH3UR5DWD%RQXVDQGWKHWLPHO\SD\PHQWRUGHOLYHU\RIWKH2WKHU%HQHILWVDQGVKDOOKDYHQRRWKHUVHYHUDQFH REOLJDWLRQVXQGHUWKLV$JUHHPHQW7KH$FFUXHG2EOLJDWLRQVVXEMHFWWRWKHSURYLVRVHWIRUWKLQ6HFWLRQD$WR the extent applicable) and the Pro Rata Bonus shall be paid to the Executive’s estate or beneficiary, as applicable, in DOXPSVXPLQFDVKZLWKLQGD\VRIWKH'DWHRI7HUPLQDWLRQ:LWKUHVSHFWWRWKHSURYLVLRQRIWKH2WKHU%HQHILWV the term “Other Benefits” as utilized in this Section 6(b) shall include, without limitation, and the Executive’s estate DQGRUEHQHILFLDULHVVKDOOEHHQWLWOHGWRUHFHLYHEHQHILWVHLWKHUSXUVXDQWWRDSODQSURJUDPSUDFWLFHRUSROLF\RUDQ LQGLYLGXDODUUDQJHPHQWDWOHDVWHTXDOWRWKHPRVWIDYRUDEOHEHQHILWVSURYLGHGE\WKH&RPSDQ\DQGWKHDIILOLDWHG FRPSDQLHVWRWKHHVWDWHVDQGEHQHILFLDULHVRISHHUH[HFXWLYHVRIWKH&RPSDQ\DQGVXFKDIILOLDWHGFRPSDQLHVXQGHU VXFKSODQVSURJUDPVSUDFWLFHVDQGSROLFLHVUHODWLQJWRGHDWKEHQHILWVLIDQ\DVLQHIIHFWZLWKUHVSHFWWRRWKHUSHHU H[HFXWLYHVDQGWKHLUEHQHILFLDULHVDWDQ\WLPHGXULQJWKHGD\SHULRGLPPHGLDWHO\SUHFHGLQJWKH(IIHFWLYH'DWH RULIPRUHI avorable to the Executive’s estate and/or the Executive’s beneficiaries, as in effect on the date of the Executive’s death with respect to other peer executives of the Company and its affiliated companies and their EHQHILFLDULHV F'LVDELOLW\ If the Executive’s employment is terminated by reason of the Executive’s Disability during the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ayment Date. With respect to the provision of the Other Benefits, the term “Other Benefits” as utilized in this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favorable to the Executive and/or the Executive’s IDPLO\DVLQHIIHFWDWDQ\WLPHWKHUHDIWHUJHQHUDOO\ZLWKUHVSHFWWRRWKHUSHHUH[HFXWLYHVRIWKH&RPSDQ\DQGWKH DIILOLDWHGFRPSDQLHVDQGWKHLUIDPLOLHV G&DXVH2WKHUWKDQIRU*RRG5HDVRQ If the Executive’s employment is terminated for Cause during the Employment Period, the Company shall provide the Executive with the Executive’s Annual Base Salary (subject to WKHSURYLVRVHWIRUWKLQ6HFWLRQD$WRWKHH[WHQWDSSOLFDEOHWKURXJKWKH'DWHRI7HUPLQDWLRQDQGWKHWLPHO\ SD\PHQWRUGHOLYHU\RIWKH2WKHU%HQHILWVDQGVKDOOKDYHQRRWKHU

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othing in this Agreement shall prevent or limit the Executive’s continuing or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limiting the generality of the foregoing, the Executive’s resignation under this Agreement w LWKRUZLWKRXW*RRG Reason, shall in no way affect the Executive’s ability to terminate employment by reason of the Executive’s “retirement” under any compensation and benefits plans, programs or arrangements of the affiliated companies, LQFOXGLQJZLWKRXWOLPLWDWLRQDQ\UHWLUHPHQWRUSHQVLRQSODQVRUDUUDQJHPHQWVRUWREHHOLJLEOHWRUHFHLYHEHQHILWV XQGHUDQ\FRPSHQVDWLRQRUEHQHILWSODQVSURJUDPVRUDUUDQJHPHQWVRIWKH&RPSDQ\RUDQ\RILWVDIILOLDWHG FRPSDQLHVLQFOXGLQJZLWKRXWOLPLWDWLRQDQ\UHWLUHPHQWRUSHQVLRQSODQRUDUUDQJHPHQWRIWKH&RPSDQ\RUDQ\RILWV DIILOLDWHGFRPSDQLHVRUVXEVWLWXWHSODQVDGRSWHGE\WKH&RPSDQ\RULWVVXFFHVVRUVDQGDQ\WHUPLQDWLRQZKLFK otherwise qualifies as Good Reason shall be treated as such even if it is also a “retirement” for purposes of any such SODQ1RWZLWKVWDQGLQJWKHIRUHJRLQJLIWKH([HFXWLYHUHFHLYHVSD\PHQWVDQGEHQHILWVSXUVXDQWWR6HFWLRQDRIWKLV $JUHHPHQWWKH([HFXWLYHVKDOOQRWEHHQWLWOHGWRDQ\VHYHUDQFHSD\RUEHQHILWVXQGHUDQ\VHYHUDQFHSODQSURJUDP RUSROLF\RIWKH&RPSDQ\DQGWKHDIILOLDWHGFRPSDQLHVXQOHVVRWKHUZLVHVSHFLILFDOO\SURYLGHGWKHUHLQLQDVSHFLILF UHIHUHQFHWRWKLV$JUHHPHQW )XOO6HWWOHPHQW/HJDO)HHV . The Company’s obligation to make the payments provided for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days following the Company’s receipt of an invoice from the Executive), at any time from the Effective Date through the Executive’s remai QLQJOLIHWLPHRULIORQJHU WKURXJKWKHWKDQQLYHUVDU\RIWKH(IIHFWLYH'DWHWRWKHIXOOH[WHQWSHUPLWWHGE\ODZDOOOHJDOIHHVDQGH[SHQVHV ZKLFKWKH([HFXWLYHPD\UHDVRQDEO\LQFXUDVDUHVXOWRIDQ\FRQWHVWUHJDUGOHVVRIWKH

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xecutive’s estate shall have submitted an invoice for such fees and expenses at least 10 GD\VEHIRUHWKHHQGRIWKH FDOHQGDU\HDUQH[WIROORZLQJWKHFDOHQGDU\HDULQZKLFKVXFKIHHVDQGH[SHQVHVZHUHLQFXUUHG7KHDPRXQWRIVXFK OHJDOIHHVDQGH[SHQVHVWKDWWKH&RPSDQ\LVREOLJDWHGWRSD\LQDQ\JLYHQFDOHQGDU\HDUVKDOOQRWDIIHFWWKHOHJDO fees and expenses that the Company is obligated to pay in any other calendar year, and the Executive’s r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a “Payment”) would be subject to the excise tax imposed by Section RIWKH&RGHRUDQ\LQWHUHVW RUSHQDOWLHVDUHLQFXUUHGE\WKH([HFXWLYHZLWKUHVSHFWWRVXFKH[FLVHWD[VXFKH[FLVHWD[WRJHWKHUZLWKDQ\VXFK interest and penalties, are hereinafter collectively referred to as the “Excise Tax”), then the Executive shall be HQWLWOHGWRUHFHLYHDQDGGLWLRQDOSD\ ment (a “Gross Up Payment”) in an amount such that after payment by the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such other certified public accounting firm as may be designated by the Executive (the “Accounting Firm”), which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

WKH&RPSDQ\$Q\GHWHUPLQDWLRQE\WKH$FFRXQWLQJ)LUPVKDOOEHELQGLQJXSRQWKH&RPSDQ\DQGWKH([HFXWLYH$V DUHVXOWRIWKHXQFHUWDLQW\LQWKHDSSOLFDWLRQRI6HFWLRQRIWKH&RGHDWWKHWLPHRIWKHLQLWLDOGHWHUPLQDWLRQE\ WKH$FFRXQWLQJ)LUPKHUHXQGHULWLVSRVVLEOHWKDW*URVV8S3D\PHQWVZKLFKZLOOQRWKDYHEHHQPDGHE\WKH Company should have been made (“Underpayment”), consistent with the calculations required to be made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

([HFXWLYHWRVXHIRUDUHIXQGWKH&RPSDQ\VKDOOLQGHPQLI\DQGKROGWKH([HFXWLYHKDUPOHVVRQDQDIWHUWD[EDVLV IURPDQ\([FLVH7D[RULQFRPHWD[LQFOXGLQJLQWHUHVWRUSHQDOWLHVZLWKUHVSHFWWKHUHWRLPSRVHGZLWKUHVSHFWWR VXFKSD\PHQWRUZLWKUHVSHFWWRDQ\LPSXWHGLQFRPHZLWKUHVSHFWWRVXFKSD\PHQWDQGIXUWKHUSURYLGHGWKDWDQ\ H[WHQVLRQRIWKHVWDWXWHRIOLPLWDWLRQVUHODWLQJWRSD\PHQWRIWD[HVIRUWKHWD[DEOH\HDURIWKH([HFXWLYHZLWKUHVSHFW WRZKLFKVXFKFRQWHVWHGDPRXQWLVFODLPHGWREHGXHLVOLPLWHGVROHO\WRVXFKFRQWHVWHGDPRXQW)XUWKHUPRUHWKH Company’s control of the contest shall be limited to issues with respect to which a Gross 8S3D\PHQWZRXOGEH SD\DEOHKHUHXQGHUDQGWKH([HFXWLYHVKDOOEHHQWLWOHGWRVHWWOHRUFRQWHVWDVWKHFDVHPD\EHDQ\RWKHULVVXHUDLVHG E\WKH,QWHUQDO5HYHQXH6HUYLFHRUDQ\RWKHUWD[LQJDXWKRULW\ G,IDIWHUWKHUHFHLSWE\WKH([HFXWLYHRID*URVV8S3D\PHQWRUSD\PHQWE\WKH&RPSDQ\RIDQDPRXQWRQ the Executive’s behalf pursuant to Section FWKH([HFXWLYHEHFRPHVHQWLWOHGWRUHFHLYHDQ\UHIXQGZLWKUHVSHFWWR WKH([FLVH7D[WRZKLFKVXFK*URVV8S3D\PHQWUHODWHVRUZLWKUHVSHFWWRVXFKFODLPWKH([HFXWLYHVKDOOVXEMHFW to the Company’s complying with the requirements of Section FSURPSWO\SD\WRWKH&RPSDQ\WKHDPRXQWRI VXFKUHIXQGWRJHWKHUZLWKDQ\LQWHUHVWSDLGRUFUHGLWHGWKHUHRQDIWHUWD[HVDSSOLFDEOHWKHUHWR,IDIWHUSD\PHQWE\ WKH&RPSDQ\RIDQDPRXQ t on the Executive’s behalf pursuant to Section FDGHWHUPLQDWLRQLVPDGHWKDWWKH ([HFXWLYHVKDOOQRWEHHQWLWOHGWRDQ\UHIXQGZLWKUHVSHFWWRVXFKFODLPDQGWKH&RPSDQ\GRHVQRWQRWLI\WKH ([HFXWLYHLQZULWLQJRILWVLQWHQWWRFRQWHVWVXFKGHQLDORIUHIXQGSULRUWRWKHH[SLUDWLRQRIGD\VDIWHUVXFK GHWHUPLQDWLRQWKHQWKHDPRXQWRIVXFKSD\PHQWVKDOORIIVHWWRWKHH[WHQWWKHUHRIWKHDPRXQWRI*URVV8S3D\PHQW UHTXLUHGWREHSDLG H$Q\*URVV8S3D\PHQWDVGHWHUPLQHGSXUVXDQWWRWKLV6HFWLRQVKDOOEHSDLGE\WKH&RPSDQ\WRWKH Executive within five days of the receipt of the Accounting Firm’s determination; SURYLGHG WKDWWKH*URVV8S Payment shall in all events be paid no later than the end of the Executive’s taxable year next fo OORZLQJWKH Executive’s taxable year in which the Excise Tax (and any income or other related taxes or interest or penalties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and their respective businesses, which shall have been obtained by the Executive during the Executive’s HPSOR\PHQWE\WKH&RPSDQ\RUDQ\RILWVDIILOLDWHGFRPSDQLHVDQGZKLFKVKDOOQRWEHRUEHFRPHSXEOLFNQRZOHGJH RWKHUWKDQE\DFWVE\WKH([HFXWLYHRUUHSUHVHQWDWLYHVRIWKH([HFXWLYHLQYLRODWLRQRIWKLV$JUHHPHQW$IWHU termination of the Executive’s employment with the Company, the Executive shall not, without the prior written FRQVHQWRIWKH&RPSDQ\RUDVPD\RWKHUZLVHEHUHTXLUHGE\ODZRUOHJDOSURFHVVFRPPXQLFDWHRUGLYXOJHDQ\VXFK LQIRUPDWLRQNQRZOHGJHRUGDWDWRDQ\RQHRWKHUWKDQWKH&RPSDQ\DQGWKRVHSHUVRQVGHVLJQDWHGE\LW,QQRHYHQW VKDOODQDVVHUWHGYLRODWLRQRIWKH

SURYLVLRQVRIWKLV6HFWLRQFRQVWLWXWHDEDVLVIRUGHIHUULQJRUZLWKKROGLQJDQ\DPRXQWVRWKHUZLVHSD\DEOHWRWKH ([HFXWLYHXQGHUWKLV$JUHHPHQWEXWWKH&RPSDQ\RWKHUZLVHVKDOOEHHQWLWOHGWRDOORWKHUUHPHGLHVWKDWPD\EH DYDLODEOHWRLWDWODZRUHTXLW\ 6XFFHVVRUV D7KLV$JUHHPHQWLVSHUVRQDOWRWKH([HFXWLYHDQGZLWKRXWWKHSULRUZULWWHQFRQVHQWRIWKH &RPSDQ\VKDOOQRWEHDVVLJQDEOHE\WKH([HFXWLYHRWKHUWKDQE\ZLOORUWKHODZVRIGHVFHQWDQGGLVWULEXWLRQ7KLV Agreement shall inure to the benefit of and be enforceable by the Executive’s legal representatives. E7KLV$JUHHPHQWVKDOOLQXUHWRWKHEHQHILWRIDQGEHELQGLQJXSRQWKH&RPSDQ\DQGLWVVXFFHVVRUVDQG DVVLJQV([FHSWDVSURYLGHGLQ6HFWLRQFZLWKRXWWKHSULRUZULWWHQFRQVHQWRIWKH([HFXWLYHWKLV$JUHHPHQWVKDOO QRWEHDVVLJQDEOHE\WKH&RPSDQ\ F7KH&RPSDQ\ZLOOUHTXLUHDQ\VXFFHVVRUZKHWKHUGLUHFWRULQGLUHFWE\SXUFKDVHPHUJHUFRQVROLGDWLRQRU RWKHUZLVHWRDOORUVXEVWDQWLDOO\DOORIWKHEXVLQHVVDQGRUDVVHWVRIWKH&RPSDQ\WRDVVXPHH[SUHVVO\DQGDJUHHWR SHUIRUPWKLV$JUHHPHQWLQWKHVDPHPDQQHUDQGWRWKHVDPHH[WHQWWKDWWKH&RPSDQ\ZRXOGEHUHTXLUHGWRSHUIRUP it if no such succession had taken place. As used in this Agreement, “Company” shall mean the Company as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he Executive’s or the Company’s failure to insist upon strict compliance with any provision hereof or any RWKHUSURYLVLRQRIWKLV$JUHHPHQWRUWKHIDLOXUHWRDVVHUWDQ\ULJKWWKH([HFXWLYHRUWKH&RPSDQ\PD\KDYH KHUHXQGHULQFOXGLQJZLWKRXWOLPLWDWLRQWKHULJKWRIWKH([HFXWLYHWRWHUPLQDWHHPSOR\PHQWIRU*RRG5HDVRQ SXUVXDQWWR6HFWLRQFLYRIWKLV$JUHHPHQWVKDOOQRWEHGHHPHGWREHDZDLYHURIVXFKSURYLVLRQRUULJKWRU DQ\RWKHUSURYLVLRQRUULJKWRIWKLV$JUHHPHQW I7KH([HFXWLYHDQGWKH&RPSDQ\DFNQRZOHGJHWKDWH[FHSWDVPD\RWKHUZLVHEHSURYLGHGXQGHUDQ\RWKHU ZULWWHQDJUHHPHQWEHWZHHQWKH([HFXWLYHDQGWKH&RPSDQ\WKHHPSOR\PHQWRIWKH([HFXWLYHE\WKH&RPSDQ\LV “at will” and, subject to Section 1(a) of this Agreement, prior to the Effective Date, the Executive’s employment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of the Code, such amounts shall be paid to the personal representative of the Executive’s estate within 30 days after the date of the Executive’s death. All reimbursements and in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

DQGH[SHQVHVZHUHLQFXUUHGLLWKHDPRXQWRILQNLQGEHQHILWVWKDWWKH&RPSDQ\LVREOLJDWHGWRSD\RUSURYLGHLQ DQ\JLYHQFDOHQGDU\HDUVKDOOQRWDIIHFWWKHLQNLQGEHQHILWVWKDWWKH&RPSDQ\LVREOLJDWHGWRSD\RUSURYLGHLQDQ\ RWKHUFDOHQGDU\HDULLL the Executive’s right to have the Company pay or provide such reimbursements and in NLQG EHQHILWVPD\QRWEHOLTXLGDWHGRUH[FKDQJHGIRUDQ\RWKHUEHQHILWDQGLY in no event shall the Company’s REOLJDWLRQVWRPDNHVXFKUHLPEXUVHPHQWVRUWRSURYLGHVXFKLQ kind benefits apply later than the Executive’s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greement or the Executive’s employment, WKHUHVSHFWLYHULJKWVDQGREOLJDWLRQVRIWKHSDUWLHVKHUHWRVKDOOVXUYLYHWRWKHH[WHQWQHFHVVDU\WRFDUU\RXWWKH LQWHQWLRQVRIWKHSDUWLHVXQGHUWKLV$JUHHPHQW ,1:,71(66:+(5(2)WKH([HFXWLYHKDVKH reunto set the Executive’s hand and, pursuant to the DXWKRUL]DWLRQIURPLWV%RDUGRI'LUHFWRUVWKH&RPSDQ\KDVFDXVHGWKLV$JUHHPHQWWREHH[HFXWHGLQLWVQDPHRQLWV EHKDOIDOODVRIWKHGD\DQG\HDUILUVWDERYHZULWWHQ %25*:$51(5,1& %\