Motorola Solutions, Inc. 2023-2025 Long Range Incentive Plan (LRIP) Terms
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Summary
This agreement outlines the terms of Motorola Solutions, Inc.'s 2023-2025 Long Range Incentive Plan for Corporate Vice Presidents and above. The plan covers a three-year period and bases payouts on the company's relative total shareholder return (TSR) compared to S&P 500 companies. Payouts vary depending on Motorola's TSR percentile rank, with higher ranks earning greater rewards. If the company's TSR is negative, the Compensation and Leadership Committee may reduce payouts at its discretion.
EX-10.02 2 exhibit102-2023x2025lripte.htm EX-10.02 Document
Exhibit 10.2
Motorola Solutions, Inc.
2023-2025 Long Range Incentive Plan (LRIP) Terms
As Approved by the Compensation and Leadership Committee
On February 24, 2023
| Design Feature | 2023-2025 LRIP | ||||
| Performance Cycle | Three years from January 1, 2023 through December 31, 2025 | ||||
| Eligible Population | Corporate Vice Presidents and above | ||||
| Performance Criteria | Relative Total Shareholder Return (TSR) TSR Defined as: Ending stock price (Daily average during the final three months of the Performance Cycle) + Value of reinvested dividends = Total ending value – Beginning stock price (Daily average during the three months preceding the Performance Cycle) = Total value created ÷ Beginning share price (Daily average during the three months preceding the Performance Cycle) = Total shareholder return | ||||
| Negative TSR Component | If the resulting TSR performance for Motorola Solutions is negative, the Committee will have full discretion to reduce the final calculated payout. | ||||
Exhibit 10.2
Motorola Solutions, Inc.
2023-2025 Long Range Incentive Plan (LRIP) Terms
As Approved by the Compensation and Leadership Committee
On February 24, 2023
| Comparator Group | S&P 500 defined as companies in the S&P 500 at the beginning of the performance period; must be publically traded on or after July 1, 2024 to be included in the TSR percentile calculation at the end of the performance cycle. | ||||
Payout Scale | Relative TSR Payout Scale MSI 3-Year TSR Percentile Rank Payout Factor 90th – 100th Percentile 250% 80th – 89.99th Percentile 200% 70th – 79.99th Percentile 175% 60th – 69.99th Percentile 150% 55th – 59.99th Percentile 110% 50th – 54.99th Percentile 90% 45th – 49.99th Percentile 80% 35th – 44.99th Percentile 50% 30th – 34.99th Percentile 30% < 30.00th Percentile 0% | ||||
