Fifth Amendment to Lear Corporation Long-Term Stock Incentive Plan (Effective November 1, 2006)
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Summary
This amendment updates the Lear Corporation Long-Term Stock Incentive Plan, effective November 1, 2006. It changes the thresholds in the definition of "Change in Control" by increasing the percentage in paragraph (a) from twenty to twenty-five percent and decreasing the percentage in paragraph (c) from eighty to seventy-five percent. These changes apply to all awards granted under the plan on or after the effective date.
EX-10.12 3 k12678exv10w12.htm FIFTH AMENDMENT TO LONG-TERM STOCK INCENTIVE PLAN exv10w12
Exhibit 10.12
Fifth Amendment
to the
Lear Corporation Long-Term Stock Incentive Plan
(As Amended and Restated Effective May 3, 2001)
to the
Lear Corporation Long-Term Stock Incentive Plan
(As Amended and Restated Effective May 3, 2001)
The Lear Corporation Long-Term Stock Incentive Plan (As Amended and Restated Effective May 3, 2001) is amended, effective November 1, 2006, in the following particulars:
1. By deleting the words “twenty percent” and inserting in lieu thereof “twenty-five percent” in paragraph (a) of the definition of “Change in Control” in Article 2 of the Plan, which revised definition shall apply to all Awards under the Plan granted on or after November 1, 2006.
2. By deleting the words “eighty percent” and inserting in lieu thereof “seventy-five percent” in paragraph (c) of the definition of “Change in Control” in Article 2 of the Plan, which revised definition shall apply to all Awards under the Plan granted on or after November 1, 2006.
