Document:

Exhibit 10.14

 

AMENDMENT TO THE

UNOVA, INC. RESTORATION PLAN

 

This amendment
to the UNOVA, Inc. Restoration Plan (the “Plan”) is made in accordance
with Section 11.1 of the Plan, and is effective as of the dates provided
herein.

 

1.             Section 3.6
of the Plan is amended by adding the following sentence at the end thereof:

 

Notwithstanding the foregoing, and solely for purposes of the 2002
calendar year, Annual Compensation shall also include all amounts of cash
compensation payable in the 2002 calendar year, whether as base salary or bonus
amounts, that an Affected Employee elects to forgo in order to receive stock
options pursuant to a Board resolution granting stock options to officers of
UNOVA, Inc. in lieu of cash compensation.

 

2.             The
Plan is amended by adding the following Supplement A at the end thereof:

 

Supplement A - Open Windows and Other Special
Benefits 

 

A.1.         Corporate
Office Open Windows.  Effective for
years beginning on or after January 1, 2000, and notwithstanding anything
to the contrary in the Plan, the Board may, by resolution, extend to certain
Affected Employees a package of benefits, including certain enhancements of
existing benefits under the Plan, as well as under other pension and retirement
plans and arrangements sponsored by the Company, as an inducement to make a
decision to retire from the Company. 
Eligibility criteria for such benefits shall be set forth in such
resolution.  If specified in such
resolution, such enhancements shall include (a) deeming an eligible
Affected Employee to have satisfied the vesting requirement of Section 6.4,
and (b) calculating and distributing to such Affected Employee the Annual
Benefit as described under Section 6.1 without the reduction otherwise
described in Section 6.2.  As a
result, the Annual Benefit in such case would commence as soon as is
practicable after the Termination of Employment of such Affected Employee.

 

A.2.         Special Benefit
Relating to Daniel S. Bishop

 

Effective July 30, 2004, the Annual Benefit payable to Daniel S.
Bishop shall be calculated and distributed as described under Section 6.1
without the reduction otherwise described in Section 6.2.  As a result, the Annual Benefit payable to Mr. Bishop
shall commence as soon as is practicable after such date.

 

 

IN WITNESS
WHEREOF, UNOVA, Inc., by its duly authorized representatives, has caused
this Amendment to be executed in its name and on its behalf on this
     day of August, 2004.

 

	
   

  	
  UNOVA, INC.

  
	
   

  	
   

  
	
   

  	
  By 

  	
  /s/ MICHAEL E. KEANE

  	
   

  
	
   

  	
  Michael E. Keane

  
	
   

  	
   

  
	
  WITNESS

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
  /s/ KENNETH L. COHEN

  	
   

  
	
   

  	
  Kenneth L. Cohen

  
	
   

  	
   

  
	
  WITNESS

  	
   

  	
   

  	
   

  
						

 

2Exhibit 10.20

 

AMENDMENT TO THE

UNOVA, INC. SUPPLEMENTAL
EXECUTIVE RETIREMENT PLAN

 

This amendment to the UNOVA, Inc. Supplemental Executive
Retirement Plan (the “Plan”) is made in accordance with Section 11.1 of
the Plan, and is effective as of the dates provided herein.

 

1.             Section 2.3
of the Plan is amended by adding the following sentence at the end thereof:

 

(f)            Notwithstanding the
foregoing, and pursuant to a Board resolution granting stock options to
officers of UNOVA, Inc. in lieu of cash compensation, (1) any amounts
of base salary that a Participant elects to forego during the 2002 fiscal year
in order to receive stock options shall be regarded as part of the Participant’s
“gross base salary” for 2002, and (2) any amounts of a bonus award with
respect to the 2001 fiscal year but payable during 2002 that a Participant
elects to forego in order to receive stock options shall be regarded as part of
the Participant’s “Bonus” and shall be deemed to have been paid to the
Participant in equal monthly installments during the 2001 fiscal year.

 

2.             The
Plan is amended by adding the following Supplement A at the end thereof:

 

Supplement A - Open Windows and Other Special
Benefits 

 

A.1.         Corporate
Office Open Windows.  Effective for
years beginning on or after January 1, 2000, and notwithstanding anything
to the contrary in the Plan, the Board may, by resolution, extend to certain
Participants a package of benefits, including certain enhancements of existing
benefits under the Plan, as well as under other pension and retirement plans
and arrangements sponsored by the Company, as an inducement to make a decision
to retire from the Company.  Eligibility
criteria for such benefits shall be set forth in such resolution.  If specified in such resolution, such
enhancements shall include (a) deeming an eligible Participant to have
attained the age of 60 for purposes of the vesting requirement under Section 4.3,
and (b) calculating and distributing to such Participant the annual
Retirement Benefit as described under Section 4.2 without the reduction
otherwise described in Section 4.1(b) and (c).  As a result, the annual Retirement Benefit in
such case would commence as soon as is practicable after the Participant’s
termination of employment with the Company.

 

A.2.         Special Benefit
Relating to Daniel S. Bishop

 

Effective July 30, 2004, Daniel S. Bishop shall be deemed to have
attained the age of 60 for purposes of the vesting requirement under Section 4.3,
and the annual Retirement Benefit payable to Mr. Bishop shall be calculated
and distributed to him as described under Section 4.2 without the
reduction otherwise described in Section 4.1(b) and (c).  As a result, the annual Retirement Benefit
payable to Mr. Bishop shall commence as soon as is practicable after such
date.

 

 

IN WITNESS
WHEREOF, UNOVA, Inc., by its duly authorized representatives, has caused
this Amendment to be executed in its name and on its behalf on this     
day of August, 2004.

 

	
   

  	
  UNOVA, INC.

  
	
   

  	
   

  
	
   

  	
  By 

  	
  /s/ MICHAEL E. KEANE

  	
   

  
	
   

  	
  Michael E. Keane

  
	
   

  	
   

  
	
  WITNESS

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
  /s/ KENNETH L. COHEN

  	
   

  
	
   

  	
  Kenneth L. Cohen

  
	
   

  	
   

  
	
  WITNESS

  	
   

  	
   

  	
   

  
						

 

2Exhibit 10.27

 

Intermec, Inc. 

2004 Long-Term Performance Share Program

 

	
  Name of Program

  	
   

  	
  The
  program will be called the Intermec, Inc. 2004 Long-Term Performance Share
  Program, and will be considered a “sub-plan” under the 2004 Omnibus Incentive
  Compensation Plan (the “Plan”).

  
	
   

  	
   

  	
   

  
	
  Purpose

  	
   

  	
  The primary purposes of the program are to: 

   

  •  Reward officers and key employees for the overall
  success of Intermec, Inc. (the “Company”) as reflected through the Company’s
  financial performance and stock price; and 

   

  •  Provide a competitive long-term incentive program.

  
	
   

  	
   

  	
   

  
	
  Effective Date

  	
   

  	
  The
  effective date of the program is May 6, 2004. The program will remain in
  effect until terminated by the Compensation Committee (the “Committee”) of
  the Board.

  
	
   

  	
   

  	
   

  
	
  Performance Period

  	
   

  	
  The
  performance period under the program is three years, with the first
  performance period running from January 1, 2004 to December 31, 2006.

  
	
   

  	
   

  	
   

  
	
  Grant Frequency

  	
   

  	
  A
  new three-year performance period will begin annually, which will create
  overlapping performance periods.

  
	
   

  	
   

  	
   

  
	
  Size of Awards

  	
   

  	
  Target
  awards will be established for each participant, denominated in shares.
  Target award levels will be approved annually by the Committee.

  
	
   

  	
   

  	
   

  
	
  Program Structure

  	
   

  	
  Participants
  can earn from 0 percent to 200 percent of their target shares based
  on Company financial performance.

  
	
   

  	
   

  	
   

  
	
  Performance Measure(s)

  	
   

  	
  Before
  the commencement of each performance period, the Committee shall select
  performance measures from those set forth in Section 10(a) of the Plan. The
  Committee may choose to include or exclude any of the events set forth in
  Section 10(b) of the Plan to the evaluation of performance for such period.

  
	
   

  	
   

  	
   

  
	
  Dividends

  	
   

  	
  Dividends,
  if any, declared during the performance period will be converted into
  additional performance shares, based on each participant’s target award.

  

 

1

 

	
  Form and Timing of Payout

  	
   

  	
  Payouts
  will be made in shares of the Company’s common stock as soon as practicable
  following the end of the performance period.

  
	
   

  	
   

  	
   

  
	
  Certain Terminations of Employment

  	
   

  	
  In
  the event of a participant’s death, disability, or retirement at age 65 or
  later, pro rata awards based on the number of full months worked during the
  performance period will be calculated. Such awards will be based on goal
  achievement over the entire performance period. Awards in these situations
  will be calculated and paid after the end of the performance period. In the
  case of death, however, the performance during the next-ending performance period
  after death will be calculated as the performance for all open performance
  periods. 

   

  Amounts
  paid on account of death will be paid to a beneficiary designated by the
  participant. If no beneficiary has been designated, amounts will be paid to
  the participant’s estate.

  
	
   

  	
   

  	
   

  
	
  Other Terminations of Employment

  	
   

  	
  In
  the event of a termination of employment not constituting a disability,
  death, or retirement, as discussed above, the participant will forfeit any
  right to any payout for all performance periods in progress under the
  program.

  
	
   

  	
   

  	
   

  
	
  Tax Withholding

  	
   

  	
  The
  Company has the right to deduct any taxes or statutory deductions required by
  law to be withheld from all payments under the program.

  
	
   

  	
   

  	
   

  
	
  Change in Capitalization

  	
   

  	
  Any
  change in capitalization which results in a material change in the value of
  the Company’s common stock (e.g., special dividend, spin-off) will result in
  an adjustment in the number of shares earned at target to reflect the
  recapitalization. While individual recapitalization “events” will be assessed
  by the Committee on a case-by-case basis, the overriding objective will be to
  avoid rewarding or penalizing participants specifically as a function of the
  event.

  
	
   

  	
   

  	
   

  
	
  Change in Control

  	
   

  	
  If a
  change in control occurs (as defined in the Plan), then all outstanding award
  cycles will automatically vest and be paid out (in cash) at the target level
  or the actual performance level as of the change in control, whichever is
  higher.

  
	
   

  	
   

  	
   

  
	
  Accounting Considerations

  	
   

  	
  The
  employer must recognize an expense for compensation over the performance
  period. An estimated expense is accrued by amortizing the initial value of
  the awards and any subsequent appreciation over the performance period based
  upon preestablished goals. The approach to expensing may
  change.

  

 

2

 

	
  Tax Considerations

  	
   

  	
  The
  Company will receive a tax deduction in the year in which the actual payout
  is determinable. The employee must report taxable income in the year the
  award is paid.

  

 

3

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