Second Amendment to Lear Corporation Long-Term Stock Incentive Plan (as Amended and Restated Effective May 3, 2001)
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Summary
This amendment updates the Lear Corporation Long-Term Stock Incentive Plan, effective November 10, 2005. It changes the terms for payment upon the exercise of Stock Appreciation Rights (SARs), allowing payment to be made in cash, company shares of equivalent value, or a combination of both. The amendment clarifies how participants may receive compensation when exercising SARs under the plan.
EX-10.22 5 k02496exv10w22.txt SECOND AMENDMENT TO THE LEAR CORPORATION LONG-TERM STOCK INCENTIVE PLAN EXHIBIT 10.22 SECOND AMENDMENT 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 10, 2005, in the following particulars: 1. By substituting the following for the last sentence of Section 7.6: "The payment upon SAR exercise may be made in cash, in Shares of equivalent Fair Market Value or in some combination of the two." * * * * *