Motorola Solutions, Inc. 2021-2023 Long Range Incentive Plan Terms
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Summary
This agreement outlines the terms of Motorola Solutions, Inc.'s 2021-2023 Long Range Incentive Plan (LRIP) 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 range from 0% to 250% depending on performance, with the Compensation and Leadership Committee retaining discretion to reduce payouts if TSR is negative. Only companies publicly traded as of July 1, 2022, are included in the comparison group.
EX-10.5 6 msiex105q12021.htm EX-10.5 Document
Exhibit 10.5
Motorola Solutions, Inc.
2021-2023 Long Range Incentive Plan (LRIP) Terms
As Approved by the Compensation and Leadership Committee On February 11, 2021
Design Feature | 2021-2023 LRIP | |||||||||||||
Performance Cycle | Three years from January 1, 2021 through December 31, 2023 | |||||||||||||
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. | |||||||||||||
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, 2022 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% | |||||||||||||
