L-3 Communications Holdings, Inc. 2008 Long Term Plan Performance Unit Award Notice (2012 Grant)

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement is between L-3 Communications Holdings, Inc. and a designated participant, granting performance units under the company's 2008 Long Term Plan. The award is based on the company's diluted earnings per share (EPS) performance from January 1, 2012, to December 31, 2014. Depending on the EPS achieved, the participant may receive shares of L-3 stock, with the number of shares determined by specific performance targets and multipliers. The agreement outlines the performance measures, targets, and the method for calculating the final award.

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EX-10.21 7 d300800dex1021.htm FORM OF L-3 COMMUNICATIONS HOLDINGS, INC. 2008 LONG TERM PLAN Form of L-3 Communications Holdings, Inc. 2008 Long Term Plan

Exhibit 10.21

Performance Unit Award Notice

 

A. Participant:   

 

   
B. Grant Date:    February 22, 2012   
C. Performance Period:    1/1/2012 through 12/31/2014   
D. Aggregate Target Dollar Award:   

 

   
E. Initial Value Per Performance Unit:   

 

   
F. Aggregate Target Performance Units:   

 

   

G. Performance Measures:

 

  1. Diluted Earnings per Share: “Diluted EPS” means earnings per common share on a fully diluted basis, determined in accordance with generally accepted accounting principles and as derived from L-3’s audited consolidated financial statements prepared in the ordinary course of business. Diluted EPS shall be adjusted as contemplated by the terms of the Performance Unit Agreement to exclude certain items specified therein.

Portion of Aggregate Target Dollar Award for this Performance Measure: 100%

Target Units for this Performance Measure:                     

Performance Scale:

 

Performance Levels

    Cumulative
Diluted
EPS Required 		     Unit
Multiplier		  

Maximum

      ³ $    27.12         200 % 
     $    26.24         150 % 

Target

      $    25.35         100 % 
     $    24.46         75 % 

Threshold

      $    23.58         50 % 

Below Threshold

    <  $    23.58         0 % 

In the event that the level of actual performance exceeds the Threshold and falls between two of the stated performance levels listed above, the Unit Multiplier will be calculated on a straight-line basis between the two stated Unit Multipliers for those performance levels.

Payment Method: Shares of L-3 stock. Subject to the terms of the Performance Unit Agreement, the number of shares will be determined by multiplying (1) the Target Units for this Performance Measure, by (2) the applicable Unit Multiplier.