2009 Form of Performance-Based Restricted Stock Unit Award Agreement



 Exhibit 10.47 to 2009 10-K 
 PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD 
 UNDER
THE PROVISIONS OF 
 THE CONVERGYS CORPORATION 
 1998 LONG TERM INCENTIVE PLAN, AS AMENDED 
 Pursuant to the provisions
of the Convergys Corporation 1998 Long Term Incentive Plan, as amended (the “Plan”), the Compensation and Benefits Committee of the Board of Directors of Convergys Corporation (the “Compensation Committee”) has granted you a
performance-based restricted stock unit award, on and subject to the terms of the Plan and your agreement to the following terms, conditions and restrictions. 
 1. Delivery of Shares. Subject to and upon the terms, conditions, and restrictions set forth in this Agreement, Convergys Corporation (the “Company”) shall deliver to you the number of
common shares, without par value, of Convergys Corporation (the “Shares”) equal to the product determined by multiplying (a) the number of Shares indicated on your Notice of Performance-Based Restricted Stock Unit Award form
(“Notice of Award”) by (b) the percentage (from 0% to 100%) determined in accordance with the provisions of Section 2 below, which delivery of Shares shall occur 30 days following December 31, 2011 (the “Vest
Date”). The Compensation Committee shall determine the extent to which the performance criteria has been satisfied. 
 2.
Performance Criteria. You are eligible to earn a percentage of the number of Shares indicated on your Notice of Award, which percentage shall be determined based on (a) the Company’s Total Shareholder Return (“TSR”) over
the three consecutive calendar year period commencing January 1, 2009 (the “performance period”) relative to the TSR of the peer group companies over the same period and (b) the schedule attached hereto as Attachment A. For
purposes of this award, the peer group companies consist of each company (other than the Company) that is in the S&P 500 as of the last trading day of the performance period and was publicly traded as of the trading day immediately preceding the
first day of the performance period. In no event shall more Shares than the maximum number listed in your Notice of Award be delivered to you or on your behalf pursuant to this award. 
 “TSR” means the rate of stock price appreciation/depreciation plus the reinvestment of dividends and the
compounding effect of dividends paid on reinvested dividends over the term of the performance period. Stock price appreciation/depreciation over the term of the performance period for the Company will be determined by comparing (c) the average
close price of the stock of the Company for each trading day occurring during the calendar quarter ending on the day immediately preceding the start of the performance period to (d) the average close price of the stock of the Company for each
trading day occurring during the calendar quarter ending on the last day of the performance period. Stock price appreciation/depreciation over the term of the performance period for the peer group companies will be determined by comparing
(e) the average close price of the stock of the applicable company for each trading day occurring during the calendar quarter ending on the day immediately preceding the start of the performance period to (f) the average close price of the
stock of the applicable company for each trading day occurring during the calendar quarter ending on the last day of the performance period. 
 3. Forfeiture of Award. 
  

	 	a.	Your right to receive Shares that are the subject of this award that have not yet been delivered, shall be forfeited automatically and without further notice if you
cease to be an employee of the Company and its affiliates prior to the Vest Date for any reason other than death, disability, retirement or involuntary termination without cause. For purposes of this Agreement: 

  

	 	(i)	“disability” has the same meaning as in the Company’s long-term disability plan; 

  


			
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	 	(ii)	“retirement” means termination of employment after (I) attaining age 55 and completing at least ten years of service with the Company or any of its
subsidiaries or (II) completing thirty years of service with the Company or any of its subsidiaries; and 

  

	 	(iii)	“cause” means a determination by the Company that you have been involved in fraud, misappropriation, embezzlement, commission of a crime or an act of moral
turpitude, or have violated the Code of Business Conduct, recklessly or willfully injured an employee, company property, business, or reputation, or have acted recklessly in the performance of your duties. 

 Your right to receive Shares that are the subject of this award shall be forfeited automatically and without further notice if you cease to
be an employee of the Company and its affiliates before the last day of the calendar year in which this Award is granted to you due to death, disability, retirement or involuntary termination without cause. 
  

	 	b.	 If the Company determines that you engaged in any Detrimental Activity during your employment with Convergys Corporation or during the two-year period
following the termination of such employment for any reason, (i) to the extent the Shares subject to this award have not yet been delivered, your right to receive such Shares shall be forfeited and (ii) to the extent that Shares have been
delivered to you pursuant to this award, the Company, in its sole discretion, may require you to pay back to it an amount equal to the income recognized for federal income tax purposes, as reflected on form W-2, by reason of the issuance of such
Shares to you, provided that such Shares were delivered within the six-month period immediately preceding the termination of your employment or following your termination. For purposes of this Section 3b, “Detrimental Activity” shall
include: (1) disclosing proprietary, confidential or trade secret information; (2) becoming involved in any business activity in competition with Convergys Corporation in the geographical area where Convergys Corporation is engaged in such
business activity; (3) interfering with Convergys Corporation’s relationships with any person or entity or attempting to divert or change any such relationship to the detriment of Convergys Corporation or the benefit of any other person or
entity; (4) failing to disclose and assign to Convergys Corporation any ideas, inventions, discoveries and other developments conceived by you during your employment, whether or not during working hours, which are within the scope of or related
to Convergys Corporation’s existing or planned business activities; (5) disparaging or acting in any manner which may damage the business of Convergys Corporation or which would adversely affect the goodwill, reputation or business
relationships of Convergys Corporation; (6) inducing any employee of Convergys Corporation to terminate his or her



  


			
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employment relationship with Convergys Corporation; or (7) taking or retaining without authorization any property of Convergys Corporation. Convergys Corporation shall be entitled to set-off
against any payment called for under this paragraph any amount otherwise owed to you by the Company. Nothing in this Section is intended to supersede or otherwise affect any Non-Disclosure and Non-Competition agreement or other employment-related
agreement between you and Convergys Corporation. References to Convergys Corporation in this paragraph shall include all direct and indirect subsidiaries of Convergys Corporation. 


 4. Death, Disability, Retirement and Involuntary Termination Without Cause. If you cease to be an employee of the
Company and its affiliates on or after the last day of the calendar year in which this award was granted to you due to (I) death, (II) disability, (III) retirement, or (IV) involuntary termination without cause (except as may be otherwise
provided under the terms of an employment agreement), then the number of Shares that are covered by this award shall be automatically reduced to a number of Shares (the “Adjusted Shares”) that bears the same ratio to the total number of
Shares covered by the award as the number of months from the first day of the calendar year in which the award is made through the date of your termination of employment bears to 36. The remaining Shares shall be forfeited automatically and without
further notice as of the date of your retirement. You will be entitled to receive the number of Adjusted Shares earned, if any, based on the schedule attached as Attachment A and the Company’s level of satisfaction of the performance criteria
described in Section 2 over the period beginning January 1, 2009 and ending on the last day of the calendar year coinciding with or preceding the date your employment terminates. For the avoidance of doubt, if you terminate employment on
December 31st, performance criteria for the year
ending on your termination date shall be included in the calculation. Shares earned, if any, pursuant to the provisions of this section 4 will be delivered 30 days following the date your employment terminates. 
 5. Rights as a Shareholder. You shall not have any rights as a shareholder of the Company with respect to any Shares that may be
deliverable hereunder unless and until such Shares have been delivered to you. 
 6. Transferability. Your right to
receive the Shares shall not be transferable nor assignable by you other than by will or by the laws of descent and distribution. 
 7. Tax Withholding. In connection with the delivery of Shares to you, the Company will withhold or cause to be withheld from your salary payments or other sources such amounts of tax at such times as may be required by law to be
withheld with respect to the Shares, provided that if your salary or such other sources are not sufficient for such purpose, you shall remit to the Company, on request, the amount required for such withholding taxes. In the alternative, you may
elect, in accordance with applicable rules and procedures, to surrender your right to receive the number of Shares necessary to cover the required tax withholding obligation. 
 8. No Employment Contract. Nothing contained in this Agreement shall confer upon you any right with respect to continuance of
employment by the Company or any subsidiary, nor limit or affect in any manner the right of the Company or any subsidiary to terminate your employment or adjust your compensation. 
  


			
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 9. Compliance with Law. The Company shall make reasonable efforts to comply with all
applicable federal and state securities laws; provided, however, notwithstanding any other provision of this Agreement, the Shares shall not be delivered if the delivery thereof would result in a violation of any such law. This award is designed to
be exempt from the provisions of Section 409A of the Code as a short term deferral. This award shall be construed, administered, and governed in a manner that effects such intent, provided that the Company does not represent or
guarantee that any particular federal or state income, estate, payroll, or other tax consequences will occur because of this award and the compensation provided hereunder. In the event that any other agreement serves to modify this award in a
manner that causes the award to not be exempt from Section 409A as a short term deferral, any issuance of Stock to a “specified employee” within the meaning of Treas. Reg. 1.409A-1(i) (or any successor thereto) on account of
termination of employment shall be made six months after the date of termination, and termination of employment shall not be considered to occur until there is a termination of employment within the meaning of Treasury Regulation
Section 1.409(h)(1)(ii), where the Employee’s services permanently decrease to less than 50% of the average level of services performed over the preceding 36 month period.
 10. Amendments. Any amendment to the Plan shall be deemed to be an amendment to this Agreement to the extent that the amendment is
applicable hereto; provided, however, that no amendment shall adversely affect your rights under this Agreement without your consent. Notwithstanding the forgoing, to the extent necessary to preserve the Company’s federal tax deduction that
would otherwise be denied due to Section 162(m) of the Internal Revenue Code (applicable only to certain top senior executives), the Company may elect (without your consent) to delay delivery of your award shares until 30 days following your
termination of employment. If the Company so elects to delay payment, all other deferred compensation payments for the year that would be nondeductible under 162(m) will also be delayed to avoid negative tax consequences to you. 
 11. Severability. In the event that one or more of the provisions of this Agreement shall be invalidated for any reason by a court of
competent jurisdiction, any provision so invalidated shall be deemed to be separable from the other provisions hereof, and the remaining provisions hereof shall continue to be valid and fully enforceable. 
 12. Relation to Plan. This Agreement is subject to the terms and conditions of the Plan. In the event of any inconsistency between the
provisions of this Agreement and the Plan, the Plan shall govern. Capitalized terms used herein without definition shall have the meanings assigned to them in the Plan. The Compensation Committee acting pursuant to the Plan, as constituted from time
to time, shall, except as expressly provided otherwise herein, have the right to determine any questions which arise in connection with the grant of this award. 
 13. Successors and Assigns. Without limiting Section 6 hereof, the provisions of this Agreement shall inure to the benefit of, and be binding upon, your successors, administrators, heirs,
legal representatives and assigns, and the successors and assigns of the Company. 
 14. Governing Law. The
interpretation, performance, and enforcement of this Agreement shall be governed by the laws of the State of Ohio, without giving effect to the principles of conflict of laws thereof. 
  


			
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 ATTACHMENT A 
 TO 
 PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD 
  

				
	 Performance
 Percentile
	  	Shares Earned as a
Percent of the Number
of Shares Covered
by the Award	 
	 Below 25th percentile
	  	0	% 
	 25th percentile
	  	50	% 
	 30th percentile
	  	60	% 
	 40th percentile
	  	80	% 
	 50th percentile or above
	  	100	% 

 If the performance is between
the percentiles listed above, the number of shares earned will be extrapolated based on the information provided. 
  


			
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