Document:

Exhibit 10.16.3

 

December 1,
2009

 

Larry
D. Zimpleman

President
and Chief Executive Officer

Principal
Financial Group, Inc.

711
High Street

Des Moines, Iowa 50392

 

Dear Larry:

 

You,
Principal Financial Group, Inc., Principal Financial Services, Inc.
and Principal Life Insurance Company (collectively “Companies”) and the
Companies agree to amend the Amended and Restated Employment Agreement, by and
between the Companies and you dated May 1, 2008 (“Agreement”), effective
[as of the date] of this letter, as follows:

 

1.                                       Section 6.3
of your contract will be amended to read:

 

6.3                                 Termination Without Cause or
for Good Reason.  In the
event of a Termination Without Cause or a Termination for Good Reason (in
either case occurring during the Employment Period), Executive shall be
entitled to receive the following:

 

(a)                                     promptly after the Date of
Termination (but in no event later than ten business days after the Date of
Termination) a lump sum amount equal to the sum of Executive’s Accrued Base
Salary and Accrued Annual Bonus;

 

(b)                                    provided that the
performance criteria that would otherwise have been applicable to the payment
of annual bonus to Executive under Section 4.2 for the year in which the
Date of Termination occurs are satisfied, an amount equal to the Prorata Annual
Bonus, which shall be payable at the same time as annual bonuses are payable to
other members of Senior Management, but in no event later than March 15 in
the calendar year following the Date of Termination;

 

(c)                                         six months after the Date of
Termination a lump sum amount equal to the product of (i) the sum of Base
Salary plus Target Annual Bonus for the Fiscal Year during which the Date of
Termination occurs (provided that no effect shall be given to any reduction in
Target Annual Bonus that would qualify as Good Reason if Executive were to
terminate

 

 

his employment on account hereof), and multiplied by
(ii) 2;

 

(d)                                    until the earlier of the (i) 18
month anniversary of the date of Termination or (ii) the date Executive
becomes eligible to participate in any plan, program or other arrangement
providing benefits of a similar nature by reason of his employment or other
provision of services, the life insurance benefit specified in Section 5.1
to which Executive is entitled as of Date of Termination, subject to the terms
of applicable plans, programs or policies; provided
that the Executive shall pay the same amount for such benefits as covered
members of Senior Management who are actively employed would pay;

 

(e)                                     if the Date of Termination
occurs prior to the Executive’s 57th birthday, (1) for
the six-month period following the Date of Termination, the Companies shall
provide Executive and his eligible dependents the same medical benefits (on the
same terms and conditions) as would have been applied had Executive continued
to be an employee of the Companies for such period, and (2) monthly after
such six month period, for the remainder of the life of Executive, benefits
equivalent to those payable under the Principal Welfare Benefit Plan for
Employees calculated under the terms of such plan as if the Date of Termination
occurred after Executive’s 57th birthday, reduced by the amounts
actually payable under such plan, provided that, if either Executive of the Company
reasonably believes it is likely that the benefits under subclause (2) cannot
be provided on a tax favored basis, the Company shall pay the cost of the
insurance premium for such benefits on the same monthly basis as such benefits
would have been provided;

 

(f)                                       if the Date of
Termination occurs prior to Executive’s 57th birthday, for
purposes of calculating the retirement benefits payable to Executive under the
Supplemental Executive Retirement Plan for Employees, Executive will be treated
as though the Date of Termination occurred after Executive’s 57th birthday;

 

(g)                                    key executive level
outplacement services, the provider of which shall be selected by Executive, up
to a maximum of $10,000; provided that in no event shall any 

 

2

 

amount be payable to Executive in lieu of his
receipt of such services.

 

Notwithstanding
anything herein to the contrary, the benefits provided in Section 6.3
shall be provided only upon Executive’s execution of a release and waiver as
described in Section 6.5. For the avoidance of doubt, Executive’s rights
and entitlements with respect to any equity-based of other long-term incentive
compensation awards (including any LTIP Award) outstanding as of the Date of
Termination shall be determined in accordance with the terms of such awards and
the governing plan documents and shall not be enhanced or otherwise modified by
the terms of this Agreement.

 

2.                                       Except as
provided in this Amendment, all of the other terms and conditions of the
Agreement will remain in full force and effect.

 

 

	
  Principal
  Financial Group, Inc.

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ William T. Kerr

  	
   

  
	
   

  	
  William
  T. Kerr

  	
   

  
	
   

  	
  Chairman,
  Human Resources Committee of the Board of Directors

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Principal Financial Services, Inc.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ William T. Kerr

  	
   

  
	
   

  	
  William
  T. Kerr

  	
   

  
	
   

  	
  Director

  	
   

  
				

 

3

 

Principal
Life Insurance Company

 

 

	
  By:

  	
  /s/ William T. Kerr

  	
   

  
	
   

  	
  William
  T. Kerr

  	
   

  
	
   

  	
  Chairman,
  Human Resources Committee of the Board of Directors

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  

Agreed
to as of the 1st day of December, 2009:

 

 

	
   

  	
  /s/ Larry D. Zimpleman

  	
   

  
	
   

  	
  Larry
  D. Zimpleman

  	
   

  

 

4Exhibit 4.1

 

	
  

  	
  By AUTHORIZED
  SIGNATURE THIS CERTIFIES THAT is the owner of CUSIP DATED COUNTERSIGNED AND
  REGISTERED: COMPUTERSHARE TRUST COMPANY, N.A. TRANSFER AGENT AND REGISTRAR,
  FULLY-PAID AND NON-ASSESSABLE SHARES OF THE COMMON STOCK OF Global Geophysical
  Services, Inc. (hereinafter called the “Company”), transferable on the books
  of the Company in person or by duly authorized attorney, upon surrender of
  this Certificate properly endorsed. This Certificate and the shares
  represented hereby, are issued and shall be held subject to all of the
  provisions of the Articles of Incorporation, as amended, and the By-Laws, as
  amended, of the Company (copies of which are on file with the Company and
  with the Transfer Agent), to all of which each holder, by acceptance hereof,
  assents. This Certificate is not valid unless countersigned and registered by
  the Transfer Agent and Registrar. Witness the facsimile seal of the Company
  and the facsimile signatures of its duly authorized officers. COMMON STOCK
  PAR VALUE $0.01 COMMON STOCK THIS CERTIFICATE IS TRANSFERABLE IN CANTON, MA
  AND NEW YORK, NY SEE REVERSE FOR CERTAIN DEFINITIONS Certificate Number
  Shares GLOBAL GEOPHYSICAL SERVICES, INC. INCORPORATED UNDER THE LAWS OF THE
  STATE OF DELAWARE FACSIMILE SIGNATURE TO COME FACSIMILE SIGNATURE TO COME
  President Secretary 016570| 003590|127C|RESTRICTED||4|057-423 37946S 10 7
  <<Month Day, Year>> * * 600620* * * * * * * * * 600620* * * * * *
  * * * 600620* * * * * * * * * 600620* * * * * * * * * 600620* * * * * SIX HUNDRED
  THOUSAND SIX HUNDRED AND TWENTY* * * MR. SAMPLE & MRS. SAMPLE & MR.
  SAMPLE & MRS. SAMPLE ZQ 000000 Certificate Numbers 1234567890/1234567890
  1234567890/1234567890 1234567890/1234567890 1234567890/1234567890
  1234567890/1234567890 1234567890/1234567890 Total Transaction Num/No. 123456
  Denom. 123456 Total 1234567 MR A SAMPLE DESIGNATION (IF ANY) ADD 1 ADD 2 ADD
  3 ADD 4 Global Geophysical Services, Inc. PO BOX 43004, Providence, RI
  02940-3004 CUSIP XXXXXX XX X Holder ID XXXXXXXXXX Insurance Value
  1,000,000.00 Number of Shares 123456 DTC 12345678 123456789012345 

  

 

 

	
  

  	
  For value
  received, hereby sell, assign and transfer unto  Shares Attorney Dated: 20 Signature: Signature:
  Notice: The signature to this assignment must correspond with the name as
  written upon the face of the certificate, in every particular, without alteration
  or enlargement, or any change whatever. PLEASE INSERT SOCIAL SECURITY OR
  OTHER IDENTIFYING NUMBER OF ASSIGNEE (PLEASE PRINT OR TYPEWRITE NAME AND
  ADDRESS, INCLUDING POSTAL ZIP CODE, OF ASSIGNEE) of the common stock
  represented by the within Certificate, and do hereby irrevocably constitute
  and appoint to transfer the said stock on the books of the within-named
  Corporation with full power of substitution in the premises. GLOBAL
  GEOPHYSICAL SERVICES, INC. THE COMPANY WILL FURNISH WITHOUT CHARGE TO EACH
  SHAREHOLDER WHO SO REQUESTS, A SUMMARY OF THE POWERS, DESIGNATIONS,
  PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS OF
  EACH CLASS OF STOCK OF THE COMPANY AND THE QUALIFICATIONS, LIMITATIONS OR
  RESTRICTIONS OF SUCH PREFERENCES AND RIGHTS, AND THE VARIATIONS IN RIGHTS,
  PREFERENCES AND LIMITATIONS DETERMINED FOR EACH SERIES, WHICH ARE FIXED BY
  THE ARTICLES OF INCORPORATION OF THE COMPANY, AS AMENDED, AND THE RESOLUTIONS
  OF THE BOARD OF DIRECTORS OF THE COMPANY, AND THE AUTHORITY OF THE BOARD OF
  DIRECTORS TO DETERMINE VARIATIONS FOR FUTURE SERIES. SUCH REQUEST MAY BE MADE
  TO THE OFFICE OF THE SECRETARY OF THE COMPANY OR TO THE TRANSFER AGENT. THE
  BOARD OF DIRECTORS MAY REQUIRE THE OWNER OF A LOST OR DESTROYED STOCK
  CERTIFICATE, OR HIS LEGAL REPRESENTATIVES, TO GIVE THE COMPANY A BOND TO
  INDEMNIFY IT AND ITS TRANSFER AGENTS AND REGISTRARS AGAINST ANY CLAIM THAT
  MAY BE MADE AGAINST THEM ON ACCOUNT OF THE ALLEGED LOSS OR DESTRUCTION OF ANY
  SUCH CERTIFICATE. Signature(s) Guaranteed: Medallion Guarantee Stamp THE
  SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION
  (Banks, Stockbrokers, Savings and Loan Associations and Credit Unions) WITH
  MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO
  S.E.C. RULE 17Ad-15. The following abbreviations, when used in the
  inscription on the face of this certificate, shall be construed as though
  they were written out in full according to applicable laws or regulations:
  TEN COM - as tenants in common UNIF GIFT MIN ACT - Custodian (Cust) (Minor)
  TEN ENT - as tenants by the entireties under Uniform Gifts to Minors Act
  (State) JT TEN - as joint tenants with right of survivorship UNIF TRF MIN ACT
  - Custodian (until age ) (Cust) under Uniform Transfers to Minors Act (Minor)
  (State) Additional abbreviations may also be used though not in the above
  list.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00168-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00168-of-00352.parquet"}]]