EX-4.2



 Exhibit 4.2 

DELPHI TECHNOLOGIES PLC LONG-TERM INCENTIVE PLAN 

Section 1. Purpose. The purpose of the Delphi Technologies PLC Long-Term Incentive Plan (the “Plan”) is to
motivate and reward those employees, directors, consultants, advisors and other individuals who are expected to contribute significantly to the success of Delphi Technologies PLC (the “Company”) and its Affiliates to perform at the highest
level and to further the best interests of the Company and its shareholders. In addition, the Plan permits grants of awards in adjustment of, substitution for or conversion of awards relating to the ordinary shares of Delphi Automotive PLC and any
successor thereto (“Former Parent”) immediately prior to the spin-off of the Company by Former Parent (the “Spinoff”), in accordance with the terms of an Employee Matters Agreement into which Former Parent and the Company enter
in connection with the Spinoff (the “Employee Matters Agreement”). 
 Section 2. Eligibility.  

(a) Any employee, Non-Employee Director, consultant or other advisor of, or any other individual who provides services to, the Company or any
Affiliate shall be eligible to be selected to receive an Award under the Plan. 
 (b) Holders of equity compensation awards granted by a
company acquired by the Company (or whose business is acquired by the Company) or with which the Company combines are eligible for grants of Replacement Awards under the Plan. 

Section 3. Administration. 

(a) The Plan shall be administered by the Committee. The Committee shall be appointed by the Board and shall consist of not less than three
directors of the Board. To the extent necessary to comply with applicable regulatory regimes, any action by the Committee shall require the approval of Committee members who are (i) independent, within the meaning of and to the extent required
by applicable rulings and interpretations of the principal stock market or exchange on which the Shares are quoted or traded; (ii) each a non-employee director within the meaning of Rule 16b-3 under the Exchange Act; and (iii) each an
outside director within the meaning of Section 162(m) of the Code. The Board may designate one or more directors as a subcommittee who may act for the Committee if necessary to satisfy the requirements of this Section. To the extent permitted
by applicable law, the Committee may delegate to one or more officers of the Company the authority to grant Awards, except that such delegation shall not be applicable to any Award for a person then covered by Section 16 of the Exchange Act or
for a Non-Employee Director. The Committee may issue rules and regulations for administration of the Plan. For the purposes of this Section 3(a), “officer” means an executive of the Company who is elected to his or her position by the
Board. 
 (b) Subject to the terms of the Plan and applicable law, the Committee (or its delegate) shall have full power and authority to:
(i) designate Participants; (ii) determine the type or types of Awards (including Replacement Awards) to be granted to each Participant under the Plan; (iii) determine the number of Shares to be covered by (or with respect to which
payments, rights or other matters are to be calculated in connection with) Awards; (iv) determine the terms and conditions of any Award; (v) determine whether, to what extent and under what circumstances Awards may be settled or exercised
in cash, Shares, other Awards, other property, net settlement (including broker-assisted cashless exercise) or any combination thereof, or canceled, forfeited or suspended, and the method or methods by which Awards may be settled, exercised,
canceled, forfeited or suspended; (vi) determine whether, to what extent and under what circumstances cash, Shares, other Awards, other property and other amounts payable with respect to an Award under the Plan shall be deferred either
automatically or at the election of the holder thereof or of the Committee; (vii) interpret and administer the Plan and any instrument or agreement relating to, or Award made under, the Plan; (viii) establish, amend, suspend or waive such
rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan; and (ix) make any other determination and take any other action that the Committee deems necessary or desirable for the
administration of the Plan. 
 (c) All decisions of the Committee shall be final, conclusive and binding upon all parties, including the
Company, its shareholders and Participants and any Beneficiaries thereof. 







 Section 4. Shares Available for Awards.  

(a) Subject to adjustment as provided in Section 4(c), (i) the maximum number of Shares available for issuance under the Plan shall
not exceed 7,500,000 Shares, (ii) no Participant may receive under the Plan in any calendar year (A) Options and SARs that relate to more than 750,000 Shares or (B) if and to the extent that any such Awards are intended to constitute
Section 162(m) Compensation and denominated in Shares, Restricted Stock, RSUs, Performance Awards or Other Stock-Based Awards that relate to more than 750,000 Shares. Shares underlying Replacement Awards and Shares remaining available for grant
under a plan of an acquired company or of a company with which the Company combines, appropriately adjusted to reflect the acquisition or combination transaction, shall not reduce the number of Shares remaining available for grant hereunder. The
maximum number of Shares available for issuance under Incentive Stock Options shall be 7,500,000 and shall not be increased by operation of Section 4(b). 

(b) Any Shares subject to an Award (other than a Replacement Award and any Award granted out of the authorized shares of an acquired plan),
that expires, is canceled, forfeited or otherwise terminates without the delivery of such Shares, including any Shares subject to such Award to the extent that such Award is settled without the issuance of Shares, shall again be, or shall become,
available for issuance under the Plan. For the avoidance of doubt, any Shares surrendered or withheld in payment of any grant, acquisition, exercise or hurdle price of such Award or taxes related to such Award shall not become available for issuance
under the Plan. 
 (c) In the event that, as a result of any dividend or other distribution (whether in the form of cash, Shares or other
securities), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase or exchange of Shares or other securities of the Company, issuance of warrants or other rights to
acquire Shares or other securities of the Company, issuance of Shares pursuant to the anti-dilution provisions of securities of the Company, or other similar corporate transaction or event affecting the Shares, or of changes in applicable laws,
regulations or accounting principles, an adjustment is necessary in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Committee shall, subject to Section 18,
adjust equitably any or all of: 
 (i) the number and type of Shares (or other securities) which thereafter may be made the
subject of Awards, including the aggregate and individual limits specified in Section 4(a); 
 (ii) the number and type
of Shares (or other securities) subject to outstanding Awards; and 
 (iii) the grant, acquisition, exercise or hurdle price
with respect to any Award or, if deemed appropriate, make provision for a cash payment to the holder of an outstanding Award; 
 provided,
however, that the number of Shares subject to any Award denominated in Shares shall always be a whole number. 
 (d) Any Shares
delivered pursuant to an Award may consist, in whole or in part, of authorized and unissued Shares or Shares acquired by the Company. 

Section 5. Options. The Committee is authorized to grant Options to Participants with the following terms and conditions and with
such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee shall determine. 

(a) The exercise price per Share under an Option shall be determined by the Committee; provided, however, that, except in the case of
Replacement Awards and Adjusted Awards, such exercise price shall not be less than the Fair Market Value of a Share on the date of grant of such Option. 

(b) The term of each Option shall be fixed by the Committee but shall not exceed 10 years from the date of grant of such Option. 

(c) The Committee shall determine the time or times at which an Option may be exercised in whole or in part. 

  
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 (d) The Committee shall determine the method or methods by which, and the form or forms,
including cash, Shares, other Awards, other property, net settlement (including broker-assisted cashless exercise) or any combination thereof, having a Fair Market Value on the exercise date equal to the relevant exercise price, in which payment of
the exercise price with respect thereto may be made or deemed to have been made. 
 (e) Options shall not be granted under the Plan in
consideration for and shall not be conditioned upon the delivery of Shares to the Company in payment of the exercise price and/or tax withholding obligation under any other stock option. 

(f) The terms of any Incentive Stock Option granted under the Plan shall comply in all respects with the provisions of Section 422 of the
Code. 
 Section 6. Stock Appreciation Rights. The Committee is authorized to grant SARs to Participants with the following
terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee shall determine. 

(a) SARs may be granted under the Plan to Participants either alone (“freestanding”) or in addition to other Awards granted under
the Plan (“tandem”) and may, but need not, relate to a specific Option granted under Section 5. 
 (b) The exercise or hurdle
price per Share under a SAR shall be determined by the Committee; provided, however, that, except in the case of Replacement Awards and Adjusted Awards, such exercise or hurdle price shall not be less than the Fair Market Value of a Share on
the date of grant of such SAR (or if granted in connection with an Option, on the grant date of such Option). 
 (c) The term of each SAR
shall be fixed by the Committee but shall not exceed 10 years from the date of grant of such SAR. 
 (d) The Committee shall determine the
time or times at which a SAR may be exercised or settled in whole or in part. 
 (e) Upon the exercise of a SAR, the Company shall pay to
the Participant an amount equal to the number of Shares subject to the SAR multiplied by the excess, if any, of the Fair Market Value of one Share on the exercise date over the exercise or hurdle price of such SAR. The Company shall pay such excess
in cash, in Shares valued at Fair Market Value, or any combination thereof, as determined by the Committee. 
 Section 7. Restricted
Stock and RSUs. The Committee is authorized to grant Awards of Restricted Stock and RSUs to Participants with the following terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions
of the Plan, as the Committee shall determine. 
 (a) The applicable Award Document shall specify the vesting schedule and, with respect to
RSUs, the delivery schedule (which may include deferred delivery later than the vesting date) and whether the Award of Restricted Stock or RSUs is entitled to dividends or dividend equivalents, voting rights or any other rights. 

(b) Shares of Restricted Stock and RSUs shall be subject to such restrictions as the Committee may impose (including any limitation on the
right to vote a Share of Restricted Stock or the right to receive any dividend, dividend equivalent or other right), which restrictions may lapse separately or in combination at such time or times, in such installments or otherwise, as the Committee
may deem appropriate. Without limiting the generality of the foregoing, if the Award relates to Shares on which dividends are declared during the period that the Award is outstanding, the Award shall not provide for the payment of such dividend (or
a dividend equivalent) to the Participant prior to the time at which such Award, or applicable portion thereof, becomes nonforfeitable, unless otherwise provided in the applicable Award Document. 

(c) Any share of Restricted Stock granted under the Plan may be evidenced in such manner as the Committee may deem appropriate, including
book-entry registration or issuance of a stock certificate or certificates. In the event that any stock certificate is issued in respect of shares of Restricted Stock granted under the Plan, such certificate shall be registered in the name of the
Participant and shall bear an appropriate legend referring to the terms, conditions and restrictions applicable to such Restricted Stock. 

  
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 (d) If and to the extent that the Committee intends that an Award granted under this
Section 7 shall constitute or give rise to Section 162(m) Compensation, such Award may be structured in accordance with the requirements of Section 8, including the performance criteria and the Award limitation set forth therein, and
any such Award shall be considered a Performance Award for purposes of the Plan. 
 (e) The Committee may provide in an Award Document that
an Award of Restricted Stock is conditioned upon the Participant making or refraining from making an election with respect to the Award under Section 83(b) of the Code. If a Participant makes an election pursuant to Section 83(b) of the
Code with respect to an Award of Restricted Stock, the Participant shall be required to file promptly a copy of such election with the Company and the Internal Revenue Service. 

(f) The Committee may determine the form or forms (including cash, Shares, other Awards, other property or any combination thereof) in which
payment of the amount owing upon settlement of any RSU Award may be made. 
 Section 8. Performance Awards. The Committee is
authorized to grant Performance Awards to Participants with the following terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee shall determine. 

(a) Performance Awards may be denominated as a cash amount, a number of Shares or a combination thereof and are Awards which may be earned
upon achievement or satisfaction of performance conditions specified by the Committee. In addition, the Committee may specify that any other Award shall constitute a Performance Award by conditioning the right of a Participant to exercise the Award
or have it settled, and the timing thereof, upon achievement or satisfaction of such performance conditions as may be specified by the Committee. The Committee may use such business criteria and other measures of performance as it may deem
appropriate in establishing any performance conditions. Subject to the terms of the Plan, the performance goals to be achieved during any Performance Period, the length of any Performance Period, the amount of any Performance Award granted and the
amount of any payment or transfer to be made pursuant to any Performance Award shall be determined by the Committee. If the Performance Award relates to Shares on which dividends are declared during the Performance Period, the Performance Award
shall not provide for the payment of such dividend (or dividend equivalent) to the Participant prior to the time at which such Performance Award, or the applicable portion thereof, is earned. 

(b) Every Performance Award shall, if the Committee intends that such Award should constitute Section 162(m) Compensation, include a
pre-established formula, such that payment, retention or vesting of the Award is subject to the achievement during a Performance Period or Performance Periods, as determined by the Committee, of a level or levels of, or increases in, in each case as
determined by the Committee, one or more of the following performance measures with respect to the Company: market capitalization, stock price, value appreciation, total shareholder return, revenue, sales, bookings, unit volume, production, pre-tax
income, earnings, earnings per share, net income, operating income, EBIT (earnings before interest and taxes), EBITDA (earnings before interest, taxes, depreciation and amortization), operating or profit margin, cost structure, restructuring,
expense control, overhead costs, general and administration expense, economic value added, net capital employed, net asset value, reserve value, market share, customer satisfaction or service quality, capacity utilization, reserve replacement,
increase in customer base, customer diversification, cash flow, cash from operations, debt leverage, debt to equity ratio, return on assets or RONA, return on equity, return on capital, assets levels, asset turnover, inventory turnover,
environmental health and safety, diversity, productivity, risk mitigation, corporate compliance, employee retention or engagement, and goals relating to acquisitions or divestitures. Performance criteria may be measured on an absolute (e.g., plan or
budget) or relative basis, and may be established on a corporate-wide basis or with respect to one or more business units, divisions, subsidiaries or business segments. Relative performance may be measured against a group of peer companies, a
financial market index or other acceptable objective and quantifiable indices. Except in the case of an Award intended to qualify as Section 162(m) Compensation, if the Committee determines that a change in the business, operations, corporate
structure or capital structure of the Company, or the manner in which the Company conducts its business, or other events or circumstances render the performance objectives unsuitable, the Committee may modify the minimum acceptable level of
achievement, in whole or in part, as the 

  
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Committee deems appropriate and equitable. Performance objectives shall be adjusted for material items not originally contemplated in establishing the performance target for items resulting from
discontinued operations, extra-ordinary gains and losses, the effect of changes in accounting standards or principles, acquisitions or divestitures, changes in tax rules or regulations, capital transactions, restructuring, nonrecurring gains or
losses or unusual items. Performance measures may vary from Performance Award to Performance Award, and from Participant to Participant, and may be established on a stand-alone basis, in tandem or in the alternative. The Committee shall have the
power to impose such other restrictions on Awards subject to this Section 8(b) as it may deem necessary or appropriate to ensure that such Awards satisfy all requirements for Section 162(m) Compensation or requirements of any applicable
law, stock market or exchange rules and regulations or accounting or tax rules and regulations. The maximum amount of any Performance Award denominated in cash that is intended to constitute Section 162(m) Compensation that may be earned in any
calendar year shall not exceed $10,000,000. 
 (c) Settlement of Performance Awards; Other Terms. Settlement of Performance Awards
shall be in cash, Shares, other Awards, other property, net settlement or any combination thereof, as determined in the discretion of the Committee. Performance Awards will be settled only after the end of the relevant Performance Period. The
Committee may, in its discretion, increase or reduce the amount of a settlement otherwise to be made in connection with a Performance Award but may not exercise discretion to increase any amount payable to a Covered Employee in respect of a
Performance Award intended to qualify as Section 162(m) Compensation. Any settlement that changes the form of payment from that originally specified shall be implemented in a manner such that the Performance Award and other related Awards do
not, solely for that reason, fail to qualify as Section 162(m) Compensation. 
 Section 9. Other Share-Based Awards. The
Committee is authorized, subject to limitations under applicable law, to grant to Participants such other Awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related to, Shares or
factors that may influence the value of Shares, including convertible or exchangeable debt securities, other rights convertible or exchangeable into Shares, acquisition rights for Shares, Awards with value and payment contingent upon performance of
the Company or business units thereof or any other factors designated by the Committee. The Committee shall determine the terms and conditions of such Awards. Shares delivered pursuant to an Award in the nature of an acquisition right granted under
this Section 9 shall be acquired for such consideration, paid for at such times, by such methods and in such forms, including cash, Shares, other Awards, other property, net settlement (including broker-assisted cashless exercise) or any
combination thereof, as the Committee shall determine; provided that the acquisition price therefor shall not be less than the Fair Market Value of such Shares on the date of grant of such right. 

Section 10. Minimum Vesting. Notwithstanding any provisions of this Plan to the contrary and except as provided in this
Section 10 or pursuant to Section 11, Awards (other than Replacement Awards and Adjusted Awards) that are granted under the Plan shall not vest in full prior to the one-year anniversary of the applicable grant date; provided,
however, that no more than five percent (5%) of the Shares available for issuance under the Plan as of the Distribution Date may be granted subject to such Awards with such other vesting requirements, if any, as the Committee may
establish in its sole discretion (which number of Shares shall not include any Shares subject to Awards granted pursuant to Section 8). 

Section 11. Effect of Termination of Service or a Change in Control on Awards.  

(a) The Committee may provide, by rule or regulation or in any Award Document, or may determine in any individual case, the circumstances in
which, and the extent to which, an Award may be exercised, settled, vested, paid or forfeited in the event of a Participant’s Termination of Service prior to the end of a Performance Period or the vesting, exercise or settlement of such Award.

 (b) The Committee may set forth the treatment of an Award upon a Change in Control in the applicable Award Document. 

(c) In the case of an Option or SAR Award, except as otherwise provided in the applicable Award Document, upon a Change in Control, a merger
or consolidation involving the Company or any other event with respect to which the Committee deems it appropriate, the Committee may cause such Award to be canceled in consideration of (i) the full acceleration of such Award and either
(A) a period of at least 10 days prior to such Change in Control, merger, consolidation or other event to exercise the Award or (B) a payment in cash or other 

  
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consideration to the Participant who holds such Award in an amount equal to the Intrinsic Value of such Award (which may be equal to but not less than zero), which, if in excess of zero, shall be
payable upon the effective date of such Change in Control, merger, consolidation or other event or (ii) a substitute award (which immediately upon grant shall have an Intrinsic Value equal to the Intrinsic Value of such Award and shall include
terms and conditions not less favorable to the Participant than the terms and conditions of such Award). 
 Section 12. General
Provisions Applicable to Awards.  
 (a) Awards shall be granted for no cash consideration or for such minimal cash consideration as may
be required by applicable law. 
 (b) Awards may, in the discretion of the Committee, be granted either alone or in addition to or in tandem
with any other Award or any award granted under any other plan of the Company. Awards granted in addition to or in tandem with other Awards, or in addition to or in tandem with awards granted under any other plan of the Company, may be granted
either at the same time as or at a different time from the grant of such other Awards or awards. 
 (c) Subject to the terms of the Plan and
Section 18, payments or transfers to be made by the Company upon the grant, exercise or settlement of an Award may be made in the form of cash, Shares, other Awards, other property, net settlement or any combination thereof, as determined by
the Committee in its discretion, and may be made in a single payment or transfer, in installments or on a deferred basis, in each case in accordance with rules and procedures established by the Committee. Such rules and procedures may include
provisions for the payment or crediting of reasonable interest on installment or deferred payments or the grant or crediting of dividend equivalents in respect of installment or deferred payments. 

(d) Except as may be permitted by the Committee or as specifically provided in an Award Document, (i) no Award and no right under any
Award shall be assignable, alienable, saleable or transferable by a Participant otherwise than by will or pursuant to Section 12(e) and (ii) during a Participant’s lifetime, each Award, and each right under any Award, shall be
exercisable only by the Participant or, if permissible under applicable law, by the Participant’s guardian or legal representative; provided, however, that the Committee shall not permit, and an Award Document shall not provide for, any Award
to be transferred or transferable to a third party for value or consideration without the approval of the Company’s shareholders. The provisions of this Section 12(d) shall not apply to any Award that has been fully exercised or settled,
as the case may be, and shall not preclude forfeiture of an Award in accordance with the terms thereof. 
 (e) A Participant may designate a
Beneficiary or change a previous Beneficiary designation at such times prescribed by the Committee by using forms and following procedures approved or accepted by the Committee for that purpose. 

(f) All certificates for Shares and/or other securities delivered under the Plan pursuant to any Award or the exercise thereof shall be
subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations and other requirements of the Securities and Exchange Commission, any stock market or exchange upon which such
Shares or other securities are then quoted, traded or listed, and any applicable securities laws, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. 

(g) Without limiting the generality of Section 12(h), the Committee may impose restrictions on any Award with respect to noncompetition,
confidentiality and other restrictive covenants, or requirements to comply with minimum stock ownership requirements, as it deems necessary or appropriate in its sole discretion. 

(h) The Committee may specify in an Award Document that the Participant’s rights, payments and benefits with respect to an Award shall be
subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an Award. Such events may include a Termination of Service
with or without Cause (and, in the case of any Cause that is resulting from an indictment or other non-final determination, the Committee may provide for such Award to be held in escrow or abeyance until a final resolution of the matters related to
such event occurs, at which time the Award shall either be reduced, cancelled or forfeited (as provided in such Award Document) or remain in effect, 

  
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depending on the outcome), violation of material policies, breach of noncompetition, confidentiality or other restrictive covenants that may apply to the Participant, or other conduct by the
Participant that is detrimental to the business or reputation of the Company and/or its Affiliates. 
 (i) If the Company is required to
prepare an accounting restatement due to the material noncompliance of the Company, as a result of misconduct, with any financial reporting requirement under the securities laws, and if the Participant knowingly or grossly negligently engaged in the
misconduct, or knowingly or grossly negligently failed to prevent the misconduct, or if the Participant is one of the individuals subject to automatic forfeiture under Section 304 of the United States Sarbanes-Oxley Act of 2002 (and not
otherwise exempted), the Participant shall reimburse the Company the amount of any payment in settlement of any Award earned or accrued during the 12-month period following the first public issuance or filing with the United States Securities and
Exchange Commission (whichever first occurred) of the financial document not in compliance with such financial reporting requirement. Rights, payments and benefits under any Award shall be subject to repayment to or recoupment (clawback) by the
Company in accordance with such policies and procedures as the Committee or Board may adopt from time to time, including policies and procedures to implement applicable law, stock market or exchange rules and regulations or accounting or tax rules
and regulations. 
 Section 13. Amendments and Termination.  

(a) Except to the extent prohibited by applicable law and unless otherwise expressly provided in an Award Document or in the Plan, the Board
may amend, alter, suspend, discontinue or terminate the Plan or any portion thereof at any time; provided, however, that no such amendment, alteration, suspension, discontinuation or termination shall be made without
(i) shareholder approval, if such approval is required by applicable law or the rules of the stock market or exchange, if any, on which the Shares are principally quoted or traded or (ii) the consent of the affected Participant, if such
action would materially adversely affect the rights of such Participant under any outstanding Award, except to the extent any such amendment, alteration, suspension, discontinuance or termination is made to cause the Plan to comply with applicable
law, stock market or exchange rules and regulations or accounting or tax rules and regulations, or to impose any recoupment provisions on any Awards in accordance with Section 12(i). Notwithstanding anything to the contrary in the Plan, the
Committee may amend the Plan in such manner as may be necessary to enable the Plan to achieve its stated purposes in any jurisdiction in a tax-efficient manner and in compliance with local laws, rules and regulations. 

(b) The Committee may waive any conditions or rights under, amend any terms of, or amend, alter, suspend, discontinue or terminate any Award
theretofore granted, prospectively or retroactively, without the consent of any relevant Participant or holder or Beneficiary of an Award; provided, however, that, subject to Sections 4(c) and 11(c), no such action shall materially adversely affect
the rights of any affected Participant or holder or Beneficiary under any Award theretofore granted under the Plan, except to the extent any such action is made to cause the Plan to comply with applicable law, stock market or exchange rules and
regulations or accounting or tax rules and regulations, or to impose any recoupment provisions on any Awards in accordance with Section 12(i); provided further that, except as provided in Section 4(c), the Committee shall not
without the approval of the Company’s shareholders (a) lower the exercise price per Share of an Option or SAR after it is granted or take any other action that would be treated as a repricing of such Award under the rules of the principal
stock market or exchange on which the Company’s Shares are quoted or traded, or (b) cancel an Option or SAR when the exercise price per Share exceeds the Fair Market Value in exchange for cash or another Award (other than in connection
with a Change in Control); and provided further, that the Committee’s authority under this Section 13(b) is limited by the provisions of Section 12(d) and, in the case of Awards subject to Section 8(b), as provided in
Section 8(b). 
 (c) Except as provided in Section 8(b), the Committee shall be authorized to make adjustments in the terms and
conditions of, and the criteria included in, Awards in recognition of events (including the events described in Section 4(c)) affecting the Company, or the financial statements of the Company, or of changes in applicable law, stock market or
exchange rules and regulations or accounting or tax rules and regulations, whenever the Committee determines that such adjustments are appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made
available under the Plan. 
 (d) The Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan or any
Award in the manner and to the extent it shall deem desirable to carry the Plan into effect. 

  
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 Section 14. Prohibition on Option and SAR Repricing. Except as provided in
Section 4(c), the Committee may not, without prior approval of the Company’s shareholders, seek to effect any re-pricing of any previously granted “underwater” Option or SAR by: (i) amending or modifying the terms of the
Option or SAR to lower the exercise price; (ii) cancelling the underwater Option or SAR and granting either (A) replacement Options or SARs having a lower exercise price or (B) Restricted Stock, RSU, Performance Award or Other
Stock-Based Award in exchange; or (iii) cancelling or repurchasing the underwater Options or SARs for cash or other securities. An Option or SAR will be deemed to be “underwater” at any time when the Fair Market Value of the Shares
covered by such Award is less than the exercise price of the Award. 
 Section 15. Miscellaneous.  

(a) No employee, Participant or other person shall have any claim to be granted any Award under the Plan, and there is no obligation for
uniformity of treatment of employees, Participants or holders or Beneficiaries of Awards under the Plan. The terms and conditions of Awards need not be the same with respect to each recipient. Any Award granted under the Plan shall be a one-time
Award that does not constitute a promise of future grants. The Company, in its sole discretion, maintains the right to make available future grants under the Plan. 

(b) The grant of an Award shall not be construed as giving a Participant the right to be retained in the employ of, or to continue to provide
services to, the Company or any Affiliate. Further, the Company or the applicable Affiliate may at any time dismiss a Participant, free from any liability, or any claim under the Plan, unless otherwise expressly provided in the Plan or in any Award
Document or in any other agreement binding the parties. The receipt of any Award under the Plan is not intended to confer any rights on the receiving Participant except as set forth in the applicable Award Document. 

(c) Nothing contained in the Plan shall prevent the Company from adopting or continuing in effect other or additional compensation
arrangements, and such arrangements may be either generally applicable or applicable only in specific cases. 
 (d) The Company shall be
authorized to withhold from any Award granted or any payment due or transfer made under any Award or under the Plan or from any compensation or other amount owing to a Participant the amount (in cash, Shares, other Awards, other property, net
settlement or any combination thereof) of applicable withholding taxes due in respect of an Award, its exercise or settlement or any payment or transfer under such Award or under the Plan and to take such other action (including providing for
elective payment of such amounts in cash or Shares by the Participant) as may be necessary in the opinion of the Committee to satisfy all obligations for the payment of such taxes. 

(e) If any provision of the Plan or any Award Document is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction,
or as to any person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to applicable laws, or if it cannot be so construed or deemed
amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award Document, such provision shall be stricken as to such jurisdiction, person or Award, and the remainder of the Plan and any such Award
Document shall remain in full force and effect. 
 (f) Neither the Plan nor any Award shall create or be construed to create a trust or
separate fund of any kind or a fiduciary relationship between the Company and a Participant or any other person. To the extent that any person acquires a right to receive payments from the Company pursuant to an Award, such right shall be no greater
than the right of any unsecured general creditor of the Company. 
 (g) No fractional Shares shall be issued or delivered pursuant to the
Plan or any Award, and the Committee shall determine whether cash or other securities shall be paid or transferred in lieu of any fractional Shares, or whether such fractional Shares or any rights thereto shall be canceled, terminated or otherwise
eliminated. 
 (h) Awards may be granted to Participants who are non-United States nationals or employed or providing services outside the
United States, or both, on such terms and conditions different from those applicable to Awards to Participants who are employed or providing services in the United States as may, in the judgment of the Committee, be necessary or desirable to
recognize differences in local law, tax policy or custom. The Committee also may impose conditions on the exercise or vesting of Awards in order to minimize the Company’s obligation with respect to tax equalization for Participants on
assignments outside their home country. 

  
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 (i) The Company shall take responsibility for the information set out in the Plan. 

Section 16. Effective Date of the Plan. The Plan is effective as of the Distribution Date. 

Section 17. Term of the Plan. No Award shall be granted under the Plan after the earliest to occur of (i) the date on which a
10-year period measured from and including the effective date expires; provided that to the extent permitted by the listing rules of any stock exchanges on which the Company is listed, such 10-year term may be extended indefinitely so long as
the maximum number of Shares available for issuance under the Plan have not been issued, (ii) the maximum number of Shares available for issuance under the Plan have been issued or (iii) the Board terminates the Plan in accordance with
Section 13(a). However, unless otherwise expressly provided in the Plan or in an applicable Award Document, any Award theretofore granted may extend beyond such date, and the authority of the Committee to amend, alter, adjust, suspend,
discontinue or terminate any such Award, or to waive any conditions or rights under any such Award, and the authority of the Board to amend the Plan, shall extend beyond such date. 

Section 18. Section 409A of the Code. With respect to Awards subject to Section 409A of the Code, the Plan is intended
to comply with the requirements of Section 409A of the Code, and the provisions of the Plan and any Award Document shall be interpreted in a manner that satisfies the requirements of Section 409A of the Code, and the Plan shall be operated
accordingly. If any provision of the Plan or any term or condition of any Award would otherwise frustrate or conflict with this intent, the provision, term or condition will be interpreted and deemed amended so as to avoid this conflict. If an
amount payable under an Award as a result of the Participant’s Termination of Service (other than due to death) occurring while the Participant is a “specified employee” under Section 409A of the Code constitutes a deferral of
compensation subject to Section 409A of the Code, then payment of such amount shall not occur until six months and one day after the date of the Participant’s Termination of Service, except as permitted under Section 409A of the Code.
If the Award includes a “series of installment payments” (within the meaning of Section 1.409A-2(b)(2)(iii) of the Treasury Regulations), the Participant’s right to the series of installment payments shall be treated as a right
to a series of separate payments and not as a right to a single payment, and if the Award includes “dividend equivalents” (within the meaning of Section 1.409A-3(e) of the Treasury Regulations), the Participant’s right to the
dividend equivalents shall be treated separately from the right to other amounts under the Award. Notwithstanding the foregoing, the tax treatment of the benefits provided under the Plan or any Award Document is not warranted or guaranteed, and in
no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Participant on account of non-compliance with Section 409A of the Code. 

Section 19. Data Protection. By participating in the Plan, the Participant consents to the holding and processing of personal
information provided by the Participant to the Company or any Affiliate, trustee or third party service provider, for all purposes relating to the operation of the Plan. These include, but are not limited to: 

(i) administering and maintaining Participant records; 

(ii) providing information to the Company, Affiliates, trustees of any employee benefit trust, registrars, brokers or third
party administrators of the Plan; 
 (iii) providing information to future purchasers or merger partners of the Company or
any Affiliate, or the business in which the Participant works; and 
 (iv) transferring information about the Participant to
any country or territory that may not provide the same protection for the information as the Participant’s home country. 

  
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 Section 20. Governing Law. The Plan and each Award Document shall be governed by the
laws of the state of New York, without application of the conflicts of law principles thereof. 
 Section 21. Definitions. As
used in the Plan, the following terms shall have the meanings set forth below: 
 (a) “Adjusted Award” means an Award that
is issued under the Plan in accordance with the terms of the Employee Matters Agreement in adjustment of, substitution for or conversion of a time-based restricted stock unit or performance-based restricted stock unit award (or other Former Parent
award outstanding at the time of the Spinoff) that was granted under a Former Parent Plan. Notwithstanding anything in the Plan to the contrary, subject to the Award Documents for the Adjusted Awards, the Adjusted Awards will reflect substantially
the original terms of the awards being so adjusted or converted, and they need not comply with other specific terms of the Plan. 
 (b)
“Affiliate” means (i) any entity that, directly or indirectly, is controlled by the Company, (ii) any entity in which the Company, directly or indirectly, has a significant equity interest, in each case as determined by
the Committee and (iii) any other entity which the Committee determines should be treated as an “Affiliate.” 
 (c)
“Award” means any Option, SAR, Restricted Stock, RSU, Performance Award or Other Stock-Based Award granted under the Plan. 

(d) “Award Document” means any agreement, contract or other instrument or document, which may be in electronic format,
evidencing any Award granted under the Plan, which may, but need not, be executed or acknowledged by a Participant. With respect to Adjusted Awards, the term also includes any writing or memorandum or summary of terms that may be specified by the
Former Parent Committee, together with any evidence of award under any Former Parent Plan that may be referred to therein. 
 (e)
“Beneficiary” means a person entitled to receive payments or other benefits or exercise rights that are available under the Plan in the event of the Participant’s death. If no such person is named by a Participant, or if no
Beneficiary designated by the Participant is eligible to receive payments or other benefits or exercise rights that are available under the Plan at the Participant’s death, such Participant’s Beneficiary shall be such Participant’s
estate. 
 (f) “Board” means the board of directors of the Company. 

(g) “Cause” means, with respect to any Participant, “cause” as defined in such Participant’s Employment
Agreement, if any, or if not so defined, except as otherwise provided in such Participant’s Award Document, such Participant’s: 

(i) indictment for any crime (A) constituting a felony, or (B) that has, or could reasonably be expected to result
in, an adverse impact on the performance of a Participant’s duties to the Company, or otherwise has, or could reasonably be expected to result in, an adverse impact to the business or reputation of the Company; 

(ii) having been the subject of any order, judicial or administrative, obtained or issued by the Securities and Exchange
Commission for any securities violation involving fraud, including, for example, any such order consented to by the Participant in which findings of facts or any legal conclusions establishing liability are neither admitted nor denied; 

(iii) conduct, in connection with his or her employment or service, which is not taken in good faith and has, or could
reasonably be expected to result in, material injury to the business or reputation of the Company; 
 (iv) willful violation
of the Company’s Code of Conduct or other material policies set forth in the manuals or statements of policy of the Company; 

(v) willful neglect in the performance of a Participant’s duties for the Company or willful or repeated failure or refusal
to perform such duties; or 
 (vi) material breach of any applicable Employment Agreement. 

  
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 The occurrence of any such event that is susceptible to cure or remedy shall not constitute Cause if such
Participant cures or remedies such event within 30 days after the Company provides notice to such Participant. 
 (h) “Change in
Control” means the occurrence of any one or more of the following events: 
 (i) a direct or indirect change in
ownership or control of the Company effected through one transaction or a series of related transactions within a 12-month period commencing after the Spinoff, whereby any “person” (as defined in Section 3(a)(9) of the Exchange Act)
or any two or more persons deemed to be one “person” (as used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act) (in each case a “Person”) other than the Company or an employee benefit plan maintained by the Company, directly
or indirectly acquire or maintain “beneficial ownership” (within the meaning of Rule 13d-3 under the Exchange Act) of securities of the Company constituting more than 30% of the total combined voting power of the Company’s equity
securities outstanding immediately after such acquisition; 
 (ii) at any time during a period of 12 consecutive months
commencing after the Spinoff, individuals who at the beginning of such period constituted the Board cease for any reason to constitute a majority of members of the Board; provided, however, that any new member of the Board whose
election or nomination for election was approved by a vote of at least a majority of the directors then still in office who either were directors at the beginning of such period or whose election or nomination for election was so approved, shall be
considered as though such individual were a member of the Board at the beginning of the period, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest
with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; 

(iii) the consummation, commencing after the Spinoff, of a merger or consolidation of the Company or any of its subsidiaries
with any other corporation or entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining
outstanding or being converted into voting securities of the surviving entity or, if applicable, the ultimate parent thereof) at least 50% of the combined voting power and total fair market value of the securities of the Company or such surviving
entity or parent outstanding immediately after such merger or consolidation; or 
 (iv) the consummation of any sale, lease,
exchange or other transfer to any Person (other than an Affiliate of the Company), in one transaction or a series of related transactions within a 12-month period commencing after the Spinoff, of all or substantially all of the assets of the Company
and its subsidiaries. 
 Notwithstanding the foregoing or any provision of any Award Document to the contrary, for any Award that provides for accelerated
distribution on a Change in Control of amounts that constitute “deferred compensation” (as defined in Section 409A of the Code), if the event that constitutes such Change in Control does not also constitute a change in the ownership
or effective control of the Company, or in the ownership of a substantial portion of the Company’s assets (in either case, as defined in Section 409A of the Code), such amount shall not be distributed on such Change in Control but instead
shall vest as of the date of such Change in Control and shall be paid on the scheduled payment date specified in the applicable Award Document, except to the extent that earlier distribution would not result in the Participant who holds such Award
incurring any additional tax, penalty, interest or other expense under Section 409A of the Code. 
 (i) “Code” means
the United States Internal Revenue Code of 1986, as amended from time to time, and the rules, regulations and guidance thereunder. Any reference to a provision in the Code shall include any successor provision thereto. 

(j) “Committee” means the Compensation Committee of the Board or such other committee as may be designated by the Board;
provided that, with respect to any Award granted to any Non-Employee Director, the “Committee” means the Nominating and Governance Committee of the Board or such other committee as may be designated by the Board. If the Board does
not designate the Committee, references herein to the “Committee” shall refer to the Board. 

  
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 (k) “Covered Employee” means an individual who is (i) either a
“covered employee” or expected by the Committee to be a “covered employee,” in each case within the meaning of Section 162(m)(3) of the Code or (ii) expected by the Committee to be the recipient of compensation (other
than Section 162(m) Compensation) in excess of $1,000,000 for the tax year of the Company with regard to which a deduction in respect of such individual’s Award would be claimed. 

(l) “Disability” means, with respect to any Participant, “disability” as defined in such Participant’s
Employment Agreement, if any, or if not so defined, except as otherwise provided in such Participant’s Award Document: 

(i) a permanent and total disability that entitles the Participant to disability income payments under any long-term disability
plan or policy provided by the Company under which the Participant is covered, as such plan or policy is then in effect; or 

(ii) if such Participant is not covered under a long-term disability plan or policy provided by the Company at such time for
whatever reason, then a “permanent and total disability” as defined in Section 22(e)(3) of the Code and, in this case, the existence of any such Disability will be certified by a physician acceptable to the Company. 

(m) “Distribution Date” means the effective date of the distribution in connection with the Spinoff. 

(n) “Employment Agreement” means any employment, severance, consulting or similar agreement (including any offer letter)
between the Company or any of its Affiliates and a Participant. 
 (o) “Exchange Act” means the United States Securities
Exchange Act of 1934, as amended from time to time, and the rules, regulations and guidance thereunder. Any reference to a provision in the Exchange Act shall include any successor provision thereto. 

(p) “Fair Market Value” means (i) with respect to a Share, the closing price of a Share on the date in question (or, if
there is no reported sale on such date, on the last preceding date on which any reported sale occurred) on the principal stock market or exchange on which the Shares are quoted or traded, or if Shares are not so quoted or traded, the fair market
value of a Share as determined by the Committee, and (ii) with respect to any property other than Shares, the fair market value of such property determined by such methods or procedures as shall be established from time to time by the
Committee. 
 (q) “Former Parent Committee” means the Compensation and Human Resources Committee of the Board of Directors
of Former Parent. 
 (r) “Former Parent Plans” means the Delphi Automotive PLC Long-Term Incentive Plan (as amended and
restated effective April 23, 2015), or any similar or predecessor plan sponsored by Former Parent or any of its subsidiaries, as applicable, under which any awards remain outstanding as of the date immediately prior to the Distribution Date.

 (s) “Good Reason” means, with respect to any Participant, “good reason” as defined in such Participant’s
Employment Agreement, if any, or if not so defined, except as otherwise provided in such Participant’s Award Document, the occurrence of any one or more of the following events: 

(i) a material diminution in the Participant’s base salary; 

(ii) a material diminution in the Participant’s authority, duties, or responsibilities; 

(iii) a relocation of the Participant’s principal place of employment more than fifty (50) miles from its location;
or 
 (iv) any other action or inaction that constitutes a material breach by the Company of the Participant’s
Employment Agreement, if any; 

  
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 in each case, without the Participant’s consent. A Participant must provide notice to the Company of the
existence of any one or more of the conditions described in (i) through (iv) above within sixty (60) days of the initial existence of the condition, upon the notice of which the Company will have a period of thirty (30) days
during which it may remedy the condition before the condition gives rise to Good Reason. 
 (t) “Incentive Stock Option”
means an option representing the right to acquire Shares from the Company, granted in accordance with the provisions of Section 5, that meets the requirements of Section 422 of the Code. 

(u) “Intrinsic Value” with respect to an Option or SAR Award means (i) the excess, if any, of the price or implied price
per Share in a Change in Control or other event over the exercise or hurdle price of such Award multiplied by (ii) the number of Shares covered by such Award. 

(v) “Non-Employee Director” means a member of the Board who is not an employee of the Company or an Affiliate. 

(w) “Non-Qualified Stock Option” means an option representing the right to acquire Shares from the Company, granted in
accordance with the provisions of Section 5, that is not an Incentive Stock Option. 
 (x) “Option” means an Incentive
Stock Option or a Non-Qualified Stock Option; provided, however, that any Option granted to a Non-Employee Director, consultant or other advisor shall be a Non-Qualified Stock Option. 

(y) “Other Stock-Based Award” means an Award granted in accordance with the provisions of Section 9. 

(z) “Participant” means the recipient of an Award granted under the Plan. 

(aa) “Performance Award” means an Award granted in accordance with the provisions of Section 8. 

(bb) “Performance Period” means the period established by the Committee at the time any Performance Award is granted or at
any time thereafter during which any performance goals specified by the Committee with respect to such Award are measured. 
 (cc)
“Replacement Award” means an Award granted in assumption of, or in substitution for, an outstanding award previously granted by a company or business acquired by the Company or with which the Company, directly or indirectly,
combines. 
 (dd) “Restricted Stock” means any Share granted in accordance with the provisions of Section 7. 

(ee) “RSU” means a contractual right granted in accordance with the provisions of Section 7 that is denominated in
Shares. Each RSU represents a right to receive the value of one Share. Awards of RSUs may include the right to receive dividend equivalents. 

(ff) “SAR” means any right granted in accordance with the provisions of Section 6 to receive upon exercise by a
Participant or settlement the excess of (i) the Fair Market Value of one Share on the date of exercise or settlement over (ii) the exercise or hurdle price of the right on the date of grant, or if granted in connection with an Option, on
the date of grant of the Option. 
 (gg) “Section 162(m) Compensation” means “qualified performance-based
compensation” within the meaning of Section 162(m) of the Code. 
 (hh) “Shares” means ordinary shares of the
Company. 
 (ii) “Termination of Service” means: 

(i) in the case of a Participant who is an employee of the Company or an Affiliate, cessation of the employment relationship
such that the Participant is no longer an employee of the Company or Affiliate; 

  
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 (ii) in the case of a Participant who is a Non-Employee Director, the date that
the Participant ceases to be a member of the Board for any reason; or 
 (iii) in the case of a Participant who is a
consultant or other advisor, the effective date of the cessation of the performance of services for the Company or an Affiliate; 
 provided,
however, that in the case of an employee, the transfer of employment from the Company to an Affiliate, from an Affiliate to the Company, from one Affiliate to another Affiliate or, unless the Committee determines otherwise, the cessation of
employee status but the continuation of the performance of services for the Company or an Affiliate as a member of the Board or a consultant or other advisor shall not be deemed a cessation of service that would constitute a Termination of Service;
and provided further, that a Termination of Service will be deemed to occur for a Participant employed by an Affiliate when an Affiliate ceases to be an Affiliate, unless such Participant’s employment continues with the Company or
another Affiliate. Notwithstanding the foregoing, with respect to any Award subject to Section 409A of the Code (and not exempt therefrom), a Termination of Service occurs when a Participant experiences a “separation from service” (as
such term is defined under Section 409A of the Code). 

  
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