First Amendment to Lear Corporation Outside Directors Compensation Plan (2016 Restatement)

Summary

This amendment, approved by the Board of Directors of Lear Corporation on September 13, 2017, modifies the Outside Directors Compensation Plan originally restated effective January 1, 2016. The changes clarify that payments are to be made in annual installments and reduce a specified period from ten years to five years in Section 6.3. All other terms of the plan remain unchanged.

EX-10.3 3 lea-2017930xexx103.htm EXHIBIT 10.3 Exhibit

Exhibit 10.3

FIRST AMENDMENT TO THE LEAR CORPORATION

OUTSIDE DIRECTORS COMPENSATION PLAN

(As Amended and Restated Effective January 1, 2016)

THIS FIRST AMENDMENT to the Lear Corporation Outside Directors Compensation Plan, as amended and restated effective January 1, 2016 (the “Plan”), was approved on September 13, 2017 by the Board of Directors of Lear Corporation, pursuant to the authority reserved to it under Section 9.1 of the Plan, effective September 13, 2017.

WITNESSETH THAT:


1.	The word “annual” is hereby inserted prior to the word “installment” or “installments” wherever the latter appears in the second and third paragraphs of Section 6.3 (other than where it appears in the defined term “Installment Payments”).


2.	The phrase “ten years” is hereby replaced with the phrase “five years” where the former phrase appears in Section 6.3.


3.	Except to the extent hereby amended, the Plan shall remain in full force and effect.