The Macerich Company執行副總裁變更控制養老金計劃和The Macerich Company高級執行官變更控制養老金計劃各自由公司(如下所定義)進行修改和重訂,生效日期為2024年3月1日(「生效日期」),轉為組成單一結合計劃,並經公司在此進行修改和重訂,並更名為「或者為法定目的而成立的人士,其業務或活動(“法定機構”)包括對各種公共機構的員工福利計劃、養老金計劃、保險計劃開展投資基金管理;計劃旨在成為根據ERISA為一組特定的管理人員或高度報酬員工提供福利的特殊福利計劃。
(i)任何個人、實體或團體(在1934年修訂的《證券交易法》第13(d)(3)或14(d)(2)條的意義下)獲得對公司普通股的持有權益(在《交易法》下頒布的第13d-3條規定的意義下)達到33%或更多,則為《該條款》中的任何個人、實體或團體對公司的普通股擁有的截至時已發行的股份(“證券交易所法案”)(該個人、實體或團體,為“Person”)公司現有普通股的持股33%或更多者(“Outstanding Company Common Stock)或(B)公司現有投票權普遍具有投票權的股份的總投票權,在董事選舉中能夠投票(“優秀公司投票證券”); 提供, however在此定義中,為了本定義,以下收購不構成控制權變更:(i)從公司直接收購、(ii)公司收購、(iii)由公司或公司的任何聯屬公司或繼承人贊助或維護的任何員工福利計劃(或相關信託)的收購,或(iv)由任何實體根據符合(f)(iii)(1)、(f)(iii)(2)或(f)(iii)(3)的交易收購
(o)“合理理由” 意指僱主未經符合資格員工書面同意而採取的行動,導致就業關係產生重大負面變化。 就這些目的而言,“就業關係產生重大負面變化”應包括但不限於以下原因之一或多個,但僱主自收到符合資格員工提供給公司的書面通知後30天內未予以補救:“治療期”) of the Eligible Employee’s knowledge of the occurrence of an event or circumstance set forth in clauses (i) through (vi) below specifying in reasonable detail such occurrence:
(i)the assignment to the Eligible Employee of any duties materially inconsistent in any respect with the Eligible Employee’s position (including status, offices, titles and
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reporting requirements), authority, duties or responsibilities, or any other material diminution in such position, authority, duties or responsibilities (whether or not occurring solely as a result of the Company’s ceasing to be a publicly traded entity);
(ii)a change in the Eligible Employee’s principal office location to a location further away from the Eligible Employee’s home which is more than 30 miles from the Eligible Employee’s current principal office;
(iii)any one or more material reductions (individually or in the aggregate) in the Eligible Employee’s Base Salary, Target Bonus and/or the formula for determining the amount of cash severance for which the Eligible Employee is eligible under this Plan;
(iv)any material breach by the Employer of the Eligible Employee’s service agreement (if one exists); or
(v)solely in the event of a Change in Control, the taking of any action following the Change in Control by the Employer to eliminate long-term incentive compensation or benefit plans in which the Eligible Employee participated in or was eligible to participate in immediately prior to such Change in Control without providing substitutes therefor, to materially reduce benefits thereunder or to substantially diminish other fringe benefits; 儘管管理人可能指定在參與者死亡、殘疾或退休(由管理人定義)或其他管理人指定的情況下,將獎勵的全部或部分金額的支付取決於在管理人指定的期間內實現或部分實現一個或多個績效目標,但管理人必須要求支付所有或任何部分的長期激勵獎金受到長期激勵獎金範圍內金額部分實現的限制。 若生存實體或其母公司在變更控制後皆非上市公司,則若以公認的估值方法替代具有相當價值的股權激勵補償或福利,則不得視為良好理由未提供補償或福利;此外,與雇主或合併組織中類似職級的相關人員跨越全面降低或修改總員工福利總額不超過10%的情況下,不構成良好理由。
The treatment of any outstanding and unvested equity awards (the “Unvested Equity Awards”) held by the Eligible Employee on the Date of Termination under this Section 5 shall be governed by the terms of the applicable Long-Term Incentive Plan award agreement between the Company and the Eligible Employee; provided, however, that if the Date of Termination occurs for any reason other than for Cause, death or Disability for any Tier 1, Tier 2 or Tier 3 Executive, then, subject to the Eligible Employee’s execution and non-revocation of the Release Agreement within the time period set forth in the Release Agreement, but in no event more than sixty (60) days after the Date of Termination, and subject to the Eligible Employee complying with the Release Agreement, and notwithstanding anything
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to the contrary in the appliable Long-Term Incentive Plan award agreement or any other applicable option or other stock-based award agreement, the Company shall cause 100% of the Unvested Equity Awards subject to time-based vesting conditions to immediately become fully vested, exercisable and/or nonforfeitable as of the later of (i) the Date of Termination or (ii) the effective date of the Release Agreement (the “持續授權日期”). In order to effectuate the accelerated vesting contemplated by this Section, the termination or forfeiture of the unvested portion of the Eligible Employee’s Unvested Equity Awards that would otherwise terminate or be forfeited on the Date of Termination will be delayed until the earlier of (A) the effective date of the Release Agreement (at which time acceleration will occur), or (B) the date that the Release Agreement can no longer become fully effective (at which time the Eligible Employee’s Unvested Equity Awards will terminate or be forfeited). For purposes of clarity, no additional vesting of the Unvested Equity Awards shall occur during the period between the Date of Termination and the Accelerated Vesting Date.
第6節。TERMINATION IN CONNECTION WITH A CHANGE IN CONTROL
(c)支付不足或支付過多由於在會計事務所根據本計劃作出初步決定時對法典第4999條的應用存在不確定性,因此公司可能已向符合資格的員工支付或轉讓根據本計劃而不應支付或轉讓的金額(“支付過多”),或者公司可能未向符合資格的員工支付或轉讓根據本計劃應支付或轉讓的額外金額(“支付不足”支付過多即不應支付或轉讓的額外金額可能已支付或轉讓,或公司可能未向符合資格的員工支付或轉讓根據本計劃應支付或轉讓的額外金額(“支付不足”)支付不足”), in each case, consistent with the calculation of the Reduced Amount hereunder. In the event that the Accounting Firm, based upon the assertion of a deficiency by the Internal Revenue Service against either the Company or a Subsidiary or the Eligible Employee which the Accounting Firm believes has a high probability of success, determines that an Overpayment has been made, the Eligible Employee shall pay any such Overpayment to the Company together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code; 提供, however, that no amount shall be payable by the Eligible Employee to the Company if and to the extent such payment would not either reduce the amount on which the Eligible Employee is subject to tax under Section 1 and Section 4999 of the Code or generate a refund of such taxes. In the event that the Accounting Firm, based upon controlling precedent or substantial authority, determines that an Underpayment has occurred, any such Underpayment shall be paid promptly (and in no event later than 60 days following the date on which the Underpayment is determined) by the Company to or for the benefit of the Eligible Employee together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code.
(d)Reduced Amount and After-Tax Receipt. For purposes hereof, the following terms have the meanings set forth below: (i) “減少金額” shall mean the greatest amount of Payments that can be paid that would not result in the imposition of the excise tax under Section 4999 of the Code if the Accounting Firm determines to reduce Payments pursuant to this Section 12 and (ii) “經稅後淨收入「”應指依據代碼第280G(b)(2)(A)(ii)和280G(d)(4)條的規定確定的現值,支付金額扣除根據代碼第1條和4999條以及適用的州和地方法律對符合資格的員工徵收的所有稅款,通過適用代碼第1條和適用於符合資格的員工前一個課稅年度的課稅收入的最高邊際率以及適用于其在相關課稅年度的概率等其他率,符合資格的員工自行判斷,可能應用於他/她。
If any part of any provision of this Plan shall be invalid or unenforceable under applicable law, such part shall be ineffective to the extent of such invalidity or unenforceability only, without in any way affecting the remaining parts of such provision or the remaining provisions of this Plan.
第15章。DISCLAIMER OF RIGHTS
No provision in this Plan shall be construed to confer upon any individual the right to remain in the employ or service of the Employer, or to interfere in any way with any contractual or other right or authority of the Employer either to increase or decrease the compensation or other payments to any individual at any time, to terminate any employment or other relationship between any individual and the Employer or to require the Employer to pay severance for any termination of employment prior to a Change in Control. The obligation of the Employer to pay any benefits pursuant to this Plan shall be
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interpreted as a contractual obligation to pay only those amounts described herein, in the manner and under the conditions prescribed herein. The Plan shall in no way be interpreted to require the Employer to transfer any amounts to a third party trustee or otherwise hold any amounts in trust or escrow for payment to any participant or beneficiary under the terms of the Plan.
(d)To the extent that any payment or benefit described in this Plan constitutes “non-qualified deferred compensation” under Section 409A of the Code, and to the extent that such payment or benefit is payable upon the Eligible Employee’s termination of employment, then such payments or benefits shall be payable only upon the Eligible Employee’s “separation from service.” All references to an Eligible Employee’s termination of employment under this Plan shall only occur if the same also constitutes a “separation from service” as defined under Section 409A of the Code. The determination of whether and when a separation from service has occurred shall be made in accordance with the presumptions set forth in Treasury Regulation Section 1.409A-1(h).
(e)The Company makes no representation or warranty and shall have no liability to the Eligible Employee or any other person if any provisions of this Plan are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from, or the conditions of, such Section.
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附表A
解僱協議
THIS RELEASE AGREEMENt is entered into by ____________ (the “員工”) as a condition of and as consideration for the promise to provide the severance payments and other consideration (collectively, the “遣散費由The Macerich Company(以下簡稱“公司”)支付給員工的權益代理根據The Macerich Company修訂和重訂的遣散安置計劃(以下簡稱“計劃”)或者為法定目的而成立的人士,其業務或活動(“法定機構”)包括對各種公共機構的員工福利計劃、養老金計劃、保險計劃開展投資基金管理;本解除協議中使用的所有大寫詞彙,除非另有定義,否則應根據該計劃的定義。