展覽10.1
披露語言
這些資料，可能包括公司股票計劃描述、招股說明書和其他信息文件，以及它們所含的信息，均由貴公司提供，而非由富達提供，並不代表富達就購買任何證券或金融工具提出要約或邀請。這些資料是貴公司編制的，貴公司對其內容以及遵守法律和監管要求負有唯一責任。富達不涉及任何提供或不會作為貴公司證券或金融工具募集的承銷人。富達不會審查、核准或背書這些資料的內容，亦不承擔其內容責任。
| 傑森·卡德維 | 回信： | 受限制股份授予通知書 | |||||||||
| 員工編號【故意省略】 | |||||||||||
| 授予日期： | 2024年8月14日 | ||||||||||
| 計劃： | 2019 LTSIP | ||||||||||
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有效日期為2024年8月14日 （授予日期），您已被授予代表 9,084 李爾公司普通股的限制性股份單位。
這些限制性股票單位在兩個基本相等的分期中發放，只要您在每個相應日期之前保持受僱於李爾公司或其附屬公司之一，或者您的受僱於每個相應日期之前未因某些特定原因而終止，並且滿足某些其他條件。 請查看附加的限制性股票單位條款與條件（“RSU條款”）以獲取有關您的限制性股票單位獎勵的更多信息。 當這些限制性股票單位發放時，您將有權根據特定情況接收一股李爾公司普通股作為每個已發放的限制性股票單位，但須繳納稅款，並在特定情況下進行調整。 295,212 和 288,984這些限制股票單位將以兩個基本相等的分期發放，只要您繼續受僱於李爾公司或其附屬公司直至每個日期，或者在每個日期之前基於某些特定原因而終止您的受僱，並滿足某些其他條件。有關您的限制股票單位獎項的更多信息，請參閱附上的限制股票單位條款和條件（RSU條款）。當這些限制股票單位到期時，您將有權按照每個已到期限制股票單位收到一股李爾公司普通股，但須扣除稅款並根據特定情況進行調整。
李爾向您發放受限制股票單位，前提是您及時接受RSU條款。請盡快通過富達系統內的線上授予接受流程，於上述授予日期後的60天內，但不得超過「接受期限」之限制日期，表示接受RSU條款。 如未於接受期限內接受RSU條款，將導致被取消受限制股票單位，若您未於接受期限內接受RSU條款，則您將無權獲得受限制股票單位。
請注意，此獎項受李爾公司激勵基於報償政策（適用於任何16條條款主管）和李爾公司不當行為報償政策的約束，每當有任何修訂時，在公司為了遵循相關法律或任何交易所規定，包括但不限於《道富-弗蘭克華爾街改革和消費者保護法案》或遵守任何企業治理實踐而採納的任何其他薪酬追索和/或收回政策，這些政策可能不時經修訂。
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受限股票單位已根據及受李爾汽車公司2019年長期股票激勵計劃的條款和條件授予，該計劃可能不時修訂或修訂並重新訂定（“2019 LTSIP”），並受這份文件附有並成為本文件一部分的RSU條款規定。
2019年LTSIP的一般信息聲明和信息可用性聲明，您可以通過您在富達股權賬戶可以電子訪問的方式來獲取。 https://nb.fidelity.com是一份根據1933年修訂版的《證券法》（“證券法”）註冊的證券所涵蓋的第10(a)條招股書的一部分。這些文件是為了為您提供進一步的信息和背景。非常重要的是，您應該將這些文件存放在安全的地方，因為它們描述了您在2019年LTSIP下的權利和責任，並解釋了您有權獲得其他文件和信息的地點和方式。
此外，特定其他公開備案文件，包括李爾最新的10-k表格年度報告和根據1934年證券交易法修訂案向證券交易委員會提交的委任書，構成《第10(a)條法》的第三部分和最後一部分招股說明書。
涵蓋2019年根據證券法已註冊的LTSIP證券。 最新的第10-k表格、代理人聲明和其他申報資料可在Lear網頁上找到。 http://ir.lear.com/。無需支付費用，亦可通過書面或口頭向Lear的 聯絡 ，提供第10-k表格、代理人聲明和其他公開申報文件的副本。 [有意刪除] 位於密西根州薩斯菲爾德的Telegraph Road 21557號，郵政編碼48033，或致電 [有意刪除]。
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| /S/ 哈利·A·肯普 | |||||
| 高級副總裁，首席行政主管和 | |||||
| 總法律顧問 | |||||
附件
李爾公司
2019年度長期股票激勵計畫
2024年受限制股票單位的條款和條件
1.定義. 在本獎勵協議（“獎勵協議”）中大寫的任何術語，若未有定義，將按照李爾公司2019年長期股票激勵計劃所列明的含義，該計劃可能不時經修訂或修訂及重立而定（“計劃”）。
2.授予和解除限制性股票單位.
(a)根據隨附本獎勵協議的賦予限制股本位獎單通知中所訂定和定義的授予日期，參與者將被記入隨附本獎勵協議信中訂定的限制股本位數量。 每個限制股本位是一個表徵一個未取得股份的虛擬金額。 每個限制股本位構成權利，須受計劃及本獎勵協議條款和條件約束，在該限制股本位取得授權和滿足此處包含的其他要求後發放股份。 如果參與者在所有限制股本位都取得授權之前與公司及其所有聯屬公司的雇佣結束，參與者接收限制股本位基礎股份的權利僅按照第4條款的規定提供。
(b)受限制股份將於2026年12月31日和2027年12月31日分兩個基本相等的分期生效，但需符合本文第4條的規定。儘管本文件中或根據授予參與者的授予項目之條款和條件以及授予日期之前對參與者作出的任何獎勵的任何條款相反，但如果（i）參與者因離職而受雇於公司或附屬公司的原因而被解僱；或（ii）參與者違反本文件第6條中所含的任何約束性契約，相應的或在參與者受雇於公司或其附屬公司之間的任何其他獎勵協定中，參與者所受約束或在自己與公司或其附屬公司之間的任何書面雇傭或離職協議中所含的任何類似契約。參與者有權收取受限制股份背後的股份以及根據計劃授予給參與者的任何獎勵而須支付給參與者的任何其他金額，包括但不限於根據下述第3條（b）款要求賬戶的任何金額，未分發或支付的金額將被取消。
3.股東的權利.
(a)除非限制性股票授權單位已經授予並且其擁有的股票已分配給參與者，否則參與者不得就該限制性股票授權單位或該股票行使投票權。
(b)如果公司對其股份宣佈現金股息，則在股息支付日，參與者將被記上與每股支付的現金股息相等的股息等值，乘以上一條所示日期通過記錄日記入參與者名下的受限股票單位的數量。在公司帳簿上僅供簿記目的建立的一個賬戶（“賬戶”）將記入參與者的美元金額，根據上述規定，每月最後一天將在賬戶中記入利息，按逐月複利，直到記入賬戶的金額支付給參與者。根據前述規定記入的利息率將是中西部版《華爾街日報》所報告的基準利率
每個季度的第二個業務日，按年計。 賬戶內的餘額將受到與附件信件和本獎勵協議下頒發的受限股票單位相同的授予和沒收條款規定的約束，將以現金形式一次性支付，時間為交付與受限股票單位相關的股份時（或者在受限股票單位被沒收時）。
4.接受授予時，您承認、了解並同意以下所有內容：依照上述第2(b)條款的沒收規定，參與者在終止參與者就業之後，將僅有以下權利收取受限股票單位下的股份：
(a)其他離職。 如果參與者因殘疾或參與者死亡而解除與公司的雇傭關係，參與者（或參與者的遺產）將立即獲得根據以上第2條未獲釋放的所有限制股票單位下所隱含的股份。 如果參與者因公司以除了原因或參與者死亡或殘疾以外的任何原因而被公司解雇，則參與者將有資格收到股份，其中（i）如果在授予日期的第一週年之前終止，則股份數等於通過參與者的雇傭終止日期計算的從授予日期到參與者雇傭終止的全月數的乘積，分子為12個整數中的滿月數，分母為12，或（ii）如果在授予日期的第一週年或之後終止，則根據上述第2條未獲釋放的所有限制股票單位下的股份，在（i）和（ii）的情況下，需要參與者在終止工作時簽署一份符合公司合理要求的概括解除協議（“解除”）。 （i）和（ii）中適用的股份數只有在參與者在參與者的離職後六十（60）日內向公司執行和遞交解除（並且撤回期過期）時才應支付，並且該股份僅在終止工作後六十（60）日後才應支付，而不管解除何時返回給公司。 如果參與者受撰寫的公司或其聯屬公司代表簽署的雇傭或遣散協議約束，並且以原因或參與者基於該協議中定義的重要理由（如在該協議中定義的重要理由）的其他任何原因被公司或其聯屬公司終止，則預述的兩句不適用，因為它們與該雇傭或遣散協議的條款相衝突，並且雇傭或遣散協議的條款將取而代之。 如果參與者因本第4條之前提供的除外原因以外的任何原因而與公司終止雇傭關係，則在參與者或參與者離職後的遺產（在參與者離職後死亡的情況下）將喪失接收任何未獲釋放的限制股票單位下隱含股份的權利。 如果參與者是公司或其聯屬公司代表簽署的書面雇傭或遣散協議的一方，就本第4條而言，“殘疾”一詞應根據參與者的雇傭或遣散協議（如適用）中定義的“無能力”一詞來解釋。
5.付款的時間和形式除非本部分或第2(b)條或第4條中另有規定，一旦限制股票單位獲得，參與者將有權獲得一定數量的股份。相關股份的交付將在關聯的限制性股票單位獲得後儘快進行。股份將記入爲參與者與公司行政代理人設立的帳戶。參與者將在那時對股份擁有全面的法律和實益所有權。
6.非競爭和非招攬.
(a)參與者不得在參與者與公司或其關聯公司之間的雇傭期間，或在參與者因任何原因終止與公司或其關聯公司的雇傭後的一（1）年內，直接或間接參與任何競爭活動。此處的“競爭活動”指的是參與者的(i)作為員工、董事、顧問、擁有者、經理或顧問，或(ii)以其他方式為任何商業企業提供服務，無論該企業在全球任何地方，如果該企業從事或計劃從事與公司的任何產品或服務競爭，其中特別包括但不限於adient、Aptiv、博世（運輸解決方案業務板塊）、博格華納、大陸、福維亞、gentherm、LG電子美國公司、萬能、Pangea Made Inc.、住友、泰科電子、偉世通、延峰汽車內飾、矢崎，以及其各自的母公司、子公司或關聯公司及所有或部分從事與公司產品或服務競爭的公司的繼承者或受讓人。“競爭活動”不包括僅擁有並行使權利於某公共上市公司證券的權利，該證券代表該企業總投票權的五 percent (5%)或更少，且該企業總價值的五 percent (5%)或更少。參與者同意公司是一個全球業務，並且適合本第6(a)條適用於在全球任何地方進行的競爭活動。
(b)在參與者與公司或其附屬機構的僱傭期間，以及在參與者因任何原因與公司或其附屬機構的僱傭終止後的兩（2）年內，參與者不得直接或間接地，無論是以參與者自己的名義，還是與任何其他人一起或爲任何人，招攬或試圖招攬任何商務機構，或僱傭、試圖僱傭或以任何方式參與僱傭或試圖僱傭公司的任何員工或作爲公司或其附屬機構的獨立承包商的個人，而該員工或個人是在此類招攬或僱傭日期前六（6）個月內與公司的業務或其附屬機構相關聯，或者以其他方式從公司或其附屬機構轉移或試圖轉移任何業務，或干擾公司或其附屬機構與任何其他人之間的任何業務關係。本小節（b）的禁止事項包括回應公司或其附屬機構的員工或作爲獨立承包商的個人發起的聯繫。
(c)在參與者與公司或其關聯公司僱傭關係期間，以及在參與者因任何原因與公司或其關聯公司的僱傭關係終止後的十二（1）個月期間，參與者不得與任何當時的公司或其關聯公司的客戶進行聯繫，這些客戶是參與者在與公司或其關聯公司的僱傭期間有過接觸或關聯的，或者是在與公司或其關聯公司的僱傭期間得知其身份的，或是公司或其關聯公司正在洽談或準備產品或服務提案的潛在客戶（統稱爲“客戶”），其目的包括：(i) 誘使任何此類客戶終止與公司或其關聯公司的業務關係，(ii) 阻止任何此類客戶與公司或其關聯公司進行業務往來，(iii) 提供與公司或其關聯公司的產品或服務類似或競爭的產品或服務。參與者還同意，在此期間無論是否有招攬，均不得接受任何客戶提供的涉及與公司或其關聯公司的產品或服務類似或競爭的業務。“接觸”客戶包括回應客戶發起的聯繫。
(d)參與者承認並同意，在本第6節的契約發生違約或可能發生違約時，損害賠償將會是一個難以判斷的問題，也不能提供充分和足夠的補救措施，因此同意公司除尋求實際損害賠償外，還可以在任何有管轄權的法庭尋求對這些契約的具體執行，包括但不限於通過法院頒發禁令，而無需
bond. The Participant and the Company agree that the provisions of this Section 6 are reasonable. However, should any court or arbitrator determine that any provision of the covenants of this Section 6 are unreasonable, either in period of time, geographical area, or otherwise, the parties agree that this Section 6 should be interpreted and enforced to the maximum extent which such court or arbitrator deems reasonable.
(e)The Participant agrees that while employed by the Company or its Affiliates and for twenty-four (24) months thereafter, Participant will communicate in writing the contents of the restrictions contained in this Section 6 to any person, firm, association, partnership, corporation or other entity which Participant intends to be employed by, associated with or represent. The Participant also agrees to promptly notify in writing the General Counsel and the Chief Human Resources Officer or other lead human resources executive of the Company if, at any time during the Participant’s employment with the Company or its Affiliates or within twenty-four (24) months following the termination thereof, the Participant accepts a position to be employed by, associated with or represent any person, firm, association, partnership, corporation, or other entity. The Participant further agrees that Participant will provide the Company with such information as the Company may request about the Participant’s new position to allow the Company to determine whether such position and duties would likely lead to a violation of this Section 6 (except that the Participant need not provide any information that would constitute confidential or trade secret information of the entity which Participant intends to be employed by, associated with, or represent).
(f)Notwithstanding anything contained herein to the contrary, if the Participant is a party to a written employment or severance agreement signed on behalf of the Company or its Affiliate that contains restrictive covenants that conflict with the covenants set forth in this Section 6, such conflicting provisions of this Section 6 shall not apply, but any non-conflicting provisions shall remain in force and will supplement and be read and construed in concert with such agreement.
7.Company Option to Pay Severance.
(a)If the Participant’s employment with the Company is terminated by the Company for any reason other than Cause or due to death or Disability and as a result of such termination, the Participant is not entitled to the payment of severance benefits pursuant to either (i) a written agreement signed on behalf of the Company or an Affiliate thereof or (ii) applicable local law, the Company may decide, in its sole discretion, to pay the Participant severance equal to the product of one month’s base salary at Participant’s then-current base salary rate, less applicable withholdings, and the number of months that the Company wishes the restrictions in Section 6(a) to apply following the date of termination, not to exceed twelve (12) months (the “Severance”), provided that the Participant executes and delivers the Release (and any revocation period expires) to the Company no later than sixty (60) calendar days after the Participant’s termination of employment. If the Participant does not execute and deliver the Release within sixty (60) calendar days of the Participant’s termination of employment, or if the Participant revokes the Release within any specified revocation period, the Participant will nevertheless remain subject to the restrictions in Section 6(a) for the number of months that the Company will require the restrictions to apply. At the Company’s option, the Severance will be paid in accordance with the Company’s customary local payroll practices, in either a lump sum or equal installments (with respect to employees located outside of the United States, to the extent administratively practicable in the jurisdiction in which the Participant works) beginning on the first payroll payment date following the sixtieth (60th) calendar day after the termination of employment, regardless of when the Release is returned to the Company, and ending on the payroll payment date that is nearest to the date as of which the restrictions in Section 6(a) no longer apply.
(b)Notwithstanding anything herein, or in any other Award Agreement to which the Participant is subject, to the contrary, to the extent that (i) the Company elects to pay the Severance described in Section 7(a) in lieu of waiving the provisions of Section 6(a) hereof, if applicable, and (ii) the Participant is subject to more than one Award Agreement that provides for the possibility of severance benefits upon a termination of the Participant’s employment in exchange for post-employment compliance with a restrictive covenant provision, then the payment by the Company of severance benefits under the Award Agreement with severance benefits most favorable to the Participant shall be deemed to satisfy the Company’s obligation to pay severance in exchange for post-employment compliance with a restrictive covenant under such provisions in all such Award Agreements, and the Participant will not be entitled to receive any additional severance.
8.Confidential Information.
(a)The Participant agrees to keep confidential and not use, publish, or otherwise disclose to any person, business, or other entity the trade secrets or other proprietary, confidential, and/or privileged information (“Confidential Information”) except as such disclosure or use may be required in connection with Participant’s work for the Company. This Confidential Information includes without limitation technical know-how and specifications, business know-how and information, product information, procedures, processes, formulas, designs, blueprints, notes, memoranda, documentation, works in process, experimental works, ideas, discoveries, inventions, customer information, strategic information and plans, sales and marketing plans, supplier information, financial information, proposed agreements, software applications, pricing or cost information, and any other secret or confidential matter relating to the products, sales or business of the Company, its Affiliates, and the Company and Affiliates’ customers, suppliers, or other third parties to which they have confidentiality obligations or use restrictions. Participant understands that Confidential Information may be communicated in writing, orally, electronically, or by other means, and may (or may not) be identified in writing as “Confidential” or “Proprietary.” Participant has no duty of confidentiality over Confidential Information disclosed publicly by the Company or that is otherwise lawfully known to the public.
(b)The Participant shall notify the Company in writing of any actual or suspected misuse, misappropriation, or unauthorized disclosure of Confidential Information that may come to the Participant’s attention during or after the Participant’s employment with the Company.
(c)At the end of the Participant’s employment, the Participant shall not download, send, copy, remove, transfer, or communicate in any manner any Confidential Information in electronic form or in any other form or solicit the assistance of any Company employee or contractor to assist the Participant in connection with such actions.
(d)The Participant agrees that this Section shall supplement and be read and construed in concert with any trade secrets, confidential information, or assignment of inventions agreement or provision signed or agreed to by the Participant during employment with the Company and shall be interpreted in a manner to provide the Company the maximum protection by all agreements the Participant has with the Company.
(e)Nothing in this Award Agreement shall be construed to prevent, limit or interfere with Participant’s ability, without providing prior notice to the Company, to (i) disclose Confidential Information or other information in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, solely for the purpose of reporting or investigating a suspected violation of law; (ii) disclose Confidential Information in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal; (iii) disclose
Confidential Information to Participant’s attorney and use the Confidential Information in a court proceeding or arbitration Participant brings against the Company, provided that Participant files any document containing Confidential Information under seal and does not otherwise disclose Confidential Information, except pursuant to court order; (iv) file a charge with, or participate or cooperate in any investigation or proceeding, conducted by the Equal Employment Opportunity Commission, Securities and Exchange Commission, or any other governmental agency or governmental entity (collectively “Governmental Agencies”); or (v) disclose the existence, terms, and underlying facts and circumstances of this Agreement to any Governmental Agency. Without prior authorization of the Company’s General Counsel, however, the Company does not authorize Participant to disclose to any third party (including any government official, governmental agencies, or any attorney Participant may retain) any communications that are covered by the Company’s attorney-client privilege.
9.Return of Company Property; Cooperation. Upon separation from employment with the Company for any reason, on the Company’s earlier request during the Participant’s employment, or at any time subsequent to the Participant’s employment upon request from the Company, the Participant shall:
a.promptly deliver to the Company, and will not keep in Participant’s possession, recreate, or deliver to anyone else, all Company property, including Confidential Information in any format, devices, and equipment belonging to the Company (including computers, handheld electronic devices, telephone equipment, and other electronic devices), and Company credit cards, badges, and keys;
b.promptly disclose to the Company all work-related passwords or passcodes used or created by Participant during employment;
c.to the extent permitted by law, cooperate with Company representatives and allow such representatives to oversee the process of erasing and/or permanently removing any Confidential Information or other Company property from: (i) any computer, personal digital assistant, phone, or other electronic device; or (ii) any cloud-based storage account or other electronic medium owned or controlled by Participant provided the Company has specific information about an unauthorized transfer of Confidential Information to such cloud-based storage account or other electronic medium; and
d.cooperate with Company representatives with respect to matters of which the Participant may have knowledge due to the Participant’s employment, including (i) the transition of the Participant’s work responsibilities, files, knowledge, customer information, and contacts; (ii) the defense of any claims, causes of action, or charges brought against the Company; and (iii) any other cooperation reasonably requested by the Company’s Board of Directors (or designee) or Chief Executive Officer (or designee).
10.Assignment and Transfers. The rights and interests of the Participant under this Award Agreement may not be assigned, encumbered, or transferred, except, in the event of the death of the Participant, by will or the laws of descent and distribution. The Company may assign any of its rights and interests hereunder.
11.Withholding Tax. The Company and any Affiliate shall, in accordance with the Plan, have the right to withhold or retain, or require the Participant to remit to the Company or such Affiliate thereof, cash or Shares that are distributable to the Participant hereunder to the extent necessary to satisfy any required withholding taxes, whether national, federal, state, local, domestic,
and/or foreign triggered by the payment of any amounts under this Award Agreement; provided, however, that such amount may not exceed the maximum statutory withholding rate.
12.Securities Law Requirements.
(a)The Restricted Stock Units are subject to the further requirement that, if at any time the People and Compensation Committee (the “Committee”) determines in its discretion that the listing or qualification of the Shares subject to the Restricted Stock Units under any securities exchange requirements or under any applicable law, or the consent or approval of any governmental regulatory body, is necessary as a condition of, or in connection with, the issuance of Shares under it, then Shares will not be issued under the Restricted Stock Units, unless the necessary listing, qualification, consent or approval has been effected or obtained free of any conditions not acceptable to the Committee.
(b)No person who acquires Shares pursuant to the Award reflected in this Award Agreement may, during any period of time that person is an affiliate of the Company (within the meaning of the rules and regulations of the Securities and Exchange Commission under the Securities Act of 1933 (the “1933 Act”)) sell the Shares, unless the offer and sale is made pursuant to (i) an effective registration statement under the 1933 Act, which is current and includes the Shares to be sold, or (ii) an appropriate exemption from the registration requirements of the 1933 Act, such as that set forth in Rule 144 promulgated under the 1933 Act. With respect to individuals subject to Section 16 of the Exchange Act, transactions under this Award are intended to comply with all applicable conditions of Rule 16b-3, or its successors under the Exchange Act. To the extent any provision of the Award or action by the Committee fails to so comply, the Committee may determine, to the extent permitted by law, that the provision or action will be null and void.
13.No Limitation on Rights of the Company. The grant of this Award will not in any way affect the right or power of the Company to make adjustments, reclassification or changes in its capital or business structure, or to merge, consolidate, dissolve, liquidate, sell, or transfer all or any part of its business or assets.
14.Plan, Restricted Stock Units and Award Not a Contract of Employment. Neither the Plan, the Restricted Stock Units nor any other right or interest that is part of the Award reflected in this Award Agreement is a contract of employment, and no terms of employment of the Participant shall be affected in any way by the Plan, the Restricted Stock Units, the Award, this Award Agreement or related instruments, except as specifically provided therein. Neither the establishment of the Plan nor the Award will be construed as conferring any legal rights upon the Participant for a continuation of employment, nor shall it interfere with the right of the Company or any Affiliate to discharge the Participant and to treat Participant without regard to the effect that such treatment might have upon Participant as an employee.
15.Participant to Have No Rights as a Stockholder. Except as provided in Section 3 above, the Participant will have no rights as a stockholder with respect to any Shares subject to the Restricted Stock Units prior to the date on which Participant is recorded as the holder of those Shares in the records of the Company.
16.No Guarantee of Future Awards. This Award Agreement does not guarantee the Participant the right to or expectation of future Awards under the Plan or any future plan adopted by the Company.
17.Notice. Any notice or other communication required or permitted hereunder must be in writing and must be delivered personally, or sent by certified, registered, or express mail,
postage prepaid. Any such notice will be deemed given when so delivered personally or, if mailed, three days after the date of deposit in the United States mail, in the case of the Company to 21557 Telegraph Road, Southfield, Michigan, 48033, Attention: Senior Vice President, Chief Administrative Officer and General Counsel and, in the case of the Participant, to the last known address of the Participant in the Company’s records.
18.Governing Law. This Award Agreement and the Award shall be construed and enforced in accordance with, and governed by, the laws of the State of Michigan, determined without regard to its conflict of law rules.
19.Code Section 409A. Notwithstanding any other provision in this Award Agreement, if the Participant is a “specified employee” (as such term is defined for purposes of Code Section 409A) at the time of Participant’s termination of employment, no amount that is subject to Code Section 409A and that becomes payable by reason of such termination of employment shall be paid to the Participant before the earlier of (i) the expiration of the six-month period measured from the date of the Participant’s termination of employment, and (ii) the date of the Participant’s death.
20.Incentive Compensation Recoupment Policies. Notwithstanding any provision in the Plan or in this Award Agreement to the contrary, the Award is subject to (i) the Lear Corporation Incentive Based Compensation Recoupment Policy (applicable to any Section 16 officer) and (ii) the Lear Corporation Improper Conduct Compensation Recoupment Policy, each as amended from time to time, and any other compensation recovery and/or recoupment policies adopted by the Company to comply with applicable law or any listing exchange requirement, including, without limitation, the Dodd-Frank Wall Street Reform and Consumer Protection Act, or to comport with any corporate governance practices, as such policies may be amended from time to time. The Lear Corporation Incentive Based Compensation Recoupment Policy and the Lear Corporation Improper Conduct Compensation Recoupment Policy are available on the Company’s intranet site under the “Policies and Standards” section of the “Employee Resources” page.
To the extent required by applicable law or any applicable securities exchange listing standards, or as otherwise determined by the Board or the Committee, all Awards granted under the Plan (or any successor plan), any Shares or cash issued pursuant to an Award (including from dividend equivalent units), any amount received with respect to any sale of any Shares issued pursuant to an Award, and any amounts received in respect of awards made under the Company’s Annual Incentive Plan (or any successor plan), shall be and remain subject to any incentive compensation clawback, recoupment or repayment policies or provisions currently in effect or, in each case, as may be adopted or amended by the Board or the Committee from time to time. Notwithstanding anything herein to the contrary, prior to the occurrence of a Change in Control, the Company reserves the right, without the Participant’s consent, to adopt any such policies or provisions with retroactive effect.
Following a Change in Control, no incentive compensation clawback, recoupment or repayment policies or provisions adopted by the Company shall apply to Awards granted under the Plan (or any successor plan) to the Participant, except and solely to the extent the application of such policy or provision is necessary to comply with applicable law or applicable securities exchange listing standards.
21.Plan Document Controls. The rights herein granted are in all respects subject to the provisions set forth in the Plan to the same extent and with the same effect as if set forth fully herein. In the event that the terms of this Award Agreement or the Award conflict with the terms of the Plan document, the Plan document shall control.
22.Acceptance of Terms. The Company’s issuance to the Participant of the Restricted Stock Units hereunder is conditioned upon the Participant’s timely electronic acceptance of the terms and conditions set forth in this Award Agreement, in no event later than sixty (60) days following the Grant Date (the “Acceptance Deadline”). Failure to accept these terms and conditions by the Acceptance Deadline will result in cancellation of the Restricted Stock Units, and the Participant shall have no rights to the Restricted Stock Units if Participant does not accept these terms and conditions by the Acceptance Deadline.
By electronically signing this Award Agreement, the Participant expressly agrees to the terms of this Award Agreement. For purposes of this Award only, any contrary provisions in the Participant’s employment agreement or in the Plan regarding the vesting of equity awards in the event of the Participant’s termination of employment or upon a Change in Control are hereby expressly superseded by the terms of this Award Agreement.
IN WITNESS WHEREOF, the parties enter into this Award Agreement as of the date and year first above written.