Document:

Exhibit

Exhibit 10.6
Ally Financial Inc.

ALLY FINANCIAL INC. 
NON-EMPLOYEE DIRECTORS DEFERRED 
COMPENSATION PLAN

SECTION 1. Purpose. The purpose of the Ally Financial Inc. Non-Employee Directors Deferred Compensation Plan (the “Plan”) is to attract and retain the services of experienced non-employee directors for Ally Financial Inc. (the “Company”) by providing them with the opportunity to defer compensation payable for their services, thereby furthering the best interests of the Company and its shareholders. More specifically, the Plan establishes a mechanism for non-employee directors to voluntarily defer certain cash-based compensation (hereinafter “Cash Compensation” defined in Section 3 below) paid to them for serving as Company directors. The Plan is an unfunded deferred compensation plan that is intended to (a) comply with Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and guidance thereunder (“Section 409A”) and will be interpreted accordingly, and (b) be exempt from the provisions of the Employee Retirement Income Security Act of 1974, as amended. Non-employee directors’ equity-based compensation will be governed by the Ally Financial Inc. 2014 Non-Employee Directors Equity Compensation Plan or any successor plan under which such equity compensation is provided (the “Director Equity Compensation Plan”).
SECTION 2. Effective Date. The Plan is effective January 1, 2016. Cash Compensation paid to or earned by non-employee directors for services performed on or prior to December 31, 2015 is not subject to deferral. Cash Compensation earned by non-employee directors for services performed on or after January 1, 2016 may be deferred subject to the terms and conditions of the Plan.
SECTION 3. Eligibility.
		
	(A)
	Each non-employee director is eligible to defer Cash Compensation in accordance with the terms of the Plan.

		
	(B)
	Cash Compensation paid to non-employee directors that is eligible for deferral is comprised of:

		
	(1)
	the annual board retainer;

		
	(2)
	committee chair and member retainers; and

		
	(3)
	for the chairperson of the Company’s Board of Directors, the non-executive chairman retainer.

		
	(C)
	Cash Compensation paid to non-employee directors not eligible for deferral includes:

		
	(1)
	meeting fees; and

		
	(2)
	expense reimbursements.

SECTION 4.  Election of Deferral.
		
	(A)
	On or before December 31 of each year, any non-employee director, or nominee for election to the Company’s Board of Directors who is not an employee of Company or a Company affiliate, must (if he or she wishes to defer Cash Compensation) make an irrevocable election to defer receipt of all or a specified portion of his or her Cash Compensation (in accordance with Section 5) otherwise payable during the following year. The deferral election must be made on form(s) approved by the Company for this purpose. Deferred Cash Compensation will be credited to a “Deferred Compensation Account” on the date the Cash Compensation would, but for the deferral, otherwise be payable as determined by the Company, and subject to Section 6(B) below.

		
	(B)
	For a newly elected non-employee director, the election under the Plan for the remainder of the calendar year in which the non-employee director joins the Board must be made, if at all, 

within 30 days of his or her election to the Board and, in any event, prior to the month in which any initial Cash Compensation is payable to him or her.
		
	(C)
	Each annual election will include the method by which the value of amounts deferred will be measured and paid in accordance with Sections 6 and 7 below, respectively.

(D) An election under this Section 4 will be effective only with respect to Cash Compensation earned after the effective date of the election.
SECTION 5.  Elective Deferral.
		
	(A)
	Each non-employee director may defer all or any portion of his or her Cash Compensation in accordance with Section 4 above. The notice of deferral election, executed copies of which are made part of the Plan, will include:

		
	(1)
	the percentage (0% to 100% in 25% increments) of his or her Cash Compensation; or

		
	(2)
	the authorization to receive Cash Compensation for the year it is earned when it is earned, it being understood that if the non-employee director submits no election, he or she will also receive Cash Compensation when it is earned.

		
	(B)
	Deferred Cash Compensation will be valued in accordance with Section 6 and payable in accordance with Section 7.

		
	(C)
	A non-employee director may change his or her election to defer from year to year, but may not change elections made during any prior year.

SECTION 6.  Value of Deferred Compensation Accounts.
		
	(A)
	Cash Compensation may be deferred by means of:

		
	(1)
	“DSUs” as that term is defined in the Directors Equity Compensation Plan (i.e., a contractual right denominated in fully vested shares of the Company’s common stock); or

		
	(2)
	a market-based account that is credited with interest quarterly (i.e., no above- market or preferential earnings) as determined and identified by the Company prior to the deferral period, as elected by the deferring non-employee director at the time of his or her deferral election.

		
	(B)
	Cash Compensation deferred in the form of DSUs will be tracked as a quarterly allocation to the non-employee director’s Deferred Compensation Account of DSUs equal to the quotient of (i) all Cash Contribution for the applicable quarter divided by (ii) the “Fair Market Value” of a “Share” (as such terms are defined in the Directors Equity Compensation Plan) on the date of close of the quarter in which the Cash Contribution was earned, with each fractional DSU rounded up to the nearest whole DSU.

		
	(C)
	A non-employee director who has deferred Cash Compensation will not have access to or any interest in the Deferred Compensation Account until it is paid in accordance with Section 7.

SECTION 7. Payment of Deferred Cash Compensation.
		
	(A)
	The Deferred Compensation Account is payable in cash if carried as a market-based account, and in shares of Company common stock if carried as DSUs.

		
	(B)
	The Deferred Compensation Account will be paid in accordance with each non- employee director’s election (made in accordance with Sections 4 and 5 above):

		
	(1)
	in a lump sum within 75 days of the termination of the non-employee director’s service; or

		
	(2)
	in two to five annual installments commencing within 75 days of the termination of the non-employee director’s service and payable annually on or about the anniversary of the first installment until the total of the Deferred Compensation Account is paid.

		
	(C)
	Cash Compensation deferred in the form of DSUs per Section 6(A)(1) above will be settled as follows:

		
	(1)
	if payable in a lump sum in accordance with Section 7(B)(1) above, in the same manner and at the same time as DSUs awarded to non-employee directors in accordance with the Directors Equity Compensation Plan; or

		
	(2)
	if payable in annual installments in accordance with Section 7(B)(2) above, in tranches based on the number of installments elected by the non-employee director on an annual basis on or about the anniversary of the settlement of the first tranche paid and with each tranche valued as of the anniversary of the valuation date of the first tranche.

		
	(D)
	Cash Compensation deferred in the form of a market-based account per Section 6(A)(2) above will be paid as follows:

		
	(1)
	if payable in one lump sum in accordance with Section 7(B)(1) above, based on the full value of the Deferred Compensation Account as of the date of termination of service; or

		
	(2)
	if payable in annual installments in accordance with Section 7(B)(2) above, based on the quotient of (a) the value of the remainder of the Deferred Compensation Account as of the date of termination of service divided by (b) the number of installments remaining in the non-employee director’s election, it being understood that the value of the Deferred Compensation Account used in the numerator of this formula is reduced annually by the installment(s) paid during the prior year but that the remainder of the Deferred Compensation Account will continue to be credited with interest in accordance with the terms of the account provided under Section 6(A)(2).

SECTION 8.  Distribution Upon Death or Change in Control.
		
	(A)
	If any non-employee director dies before receiving all Deferred Cash Compensation, the unpaid amount will be paid to his or her “Beneficiary” (as defined under the Directors Equity Compensation Plan) in a lump sum as of the date 180 days following the date of the non-employee director’s death.

		
	(B)
	In the event of a “Change in Control” as defined in the Directors Equity Compensation Plan (and provided that such event constitutes a permissible payment event under Section 409A), the then unpaid balance of each non-employee director’s Deferred Cash Compensation will be distributed to such non-employee director (or his or her Beneficiary) in a lump sum as of the date of such Change in Control.

		
	(C)
	Under either of these circumstances ((A) or (B)), Deferred Cash Compensation will be valued in accordance with Section 6 of the Plan.

SECTION 9. Rights Unsecured. The right of any non-employee director or any Beneficiary to receive payment in respect of all amounts credited to his or her Deferred Compensation Account under the Plan will at all times be an unsecured claim against the general assets of the Company and the obligation of the Company under the Plan will be solely contractual. At all times, the Deferred Compensation Accounts referred to in the Plan will be unfunded, notional accounts maintained by the Company in its records the value of which will be tracked in accordance with the terms and conditions of the Plan.
SECTION 10. Non-Assignability. Rights under the Plan may not be assigned, transferred, pledged, or encumbered or be subject in any manner to alienation or anticipation except by will or by the laws of descent and distribution.
SECTION 11. Statement of Account. Once established, each non-employee director will be able to view his or her Deferred Compensation Account on-line at any time.
SECTION 12. Administration. The Plan will be administered by the Ally Financial Inc. Compensation Nominating and Governance Committee (the “Committee”), which has authority to adopt rules and regulations for carrying out the Plan and to interpret, construe, and implement the Plan’s provisions. The Committee may delegate its administrative authority over the Plan and, per its recommendation for approval of the Plan to the Company’s Board of Directors, has delegated day-to-day administration of the Plan, consistent with its terms, to the Company’s Compensation Director and such person(s) as she may designate to carry out Plan administration functions from time to time. That delegation is, therefore, imbedded in the terms of the Plan. All decisions of the Committee, or its delegate, will be final, conclusive, and binding upon all parties with an interest in the Plan.  The Plan will be administered on a calendar year basis for all purposes.
SECTION 13. Section 409A. The Plan is intended to comply with and all Plan provisions will be interpreted to satisfy the requirements of Section 409A.  “Termination of service” and similar terms used in the Plan to refer to a non-employee director’s termination of service will mean a “separation from service” as defined under Section 409A. For purposes of Section 409A, each payment to be made pursuant to the Plan is designated as a separate payment.   If any provision, term, or condition of the Plan 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. Any provision of the Plan will cease to be operable and any action which may be taken under the terms of the Plan (including without limitation any investment or distribution elections) will cease to be available, to the extent such provision or permitted action would cause deferrals and earnings under the Plan to be treated as immediately taxable for U.S. federal income tax purposes for one or more participating non-employee directors, as determined by the Company, in its sole discretion. The Company will notify non-employee directors of any determination under this Section 13 as soon as practicable thereafter.  In no event will the  Company reimburse a non-employee director for any taxes or penalties that may be imposed on him or her as a result of Section 409A.
SECTION 15. Amendment and Termination. The Plan may at any time be amended, modified, or terminated by the Company’s Board of Directors. No amendment, modification, or termination will, without the consent of a participating non-employee director, adversely affect such non-employee director’s rights with respect to amounts accrued in his or her Deferred Cash Compensation Account.
SECTION 16.  Incapacity. If a non-employee director or Beneficiary entitled to a distribution under the Plan is living under guardianship or conservatorship, distributions payable under the Plan’s terms to such individual will be paid to his or her appointed guardian or conservator and such payment will be a completed discharge of any liability of the Company under the Plan.
SECTION 17. Successors in Interest. The obligations of the Company under the Plan will be binding upon any successor or successors of the Company, whether by merger, consolidation, sale of assets or otherwise, and for this purpose any reference to the Company in the Plan will be deemed to include any such successor or successors.

SECTION 18. Governing Law; Interpretation. The Plan will be governed by, and interpreted and enforced in accordance with, the laws of the State of Michigan, without application of the conflicts of law principles thereof.Exhibit

Exhibit 10.7
Ally Financial Inc.

Ally Financial Inc.
500 Woodward Avenue, MC : MI-01-10-HR Detroit, MI 48226

<DATE>

<NAME>

Re:   Ally Financial Inc. Incentive Compensation Plan – 2018 PSU Award

Dear <FIRST NAME>:

		
	1.
	You have been granted an Award under the Ally Financial Inc. Incentive Compensation Plan (the “Plan”).  A copy of the Plan is included in your email. Capitalized terms not defined in this Award Agreement will have the meaning set forth in the Plan.

		
	2.
	Your Award is granted to you as a matter of separate inducement and is not in lieu of salary or other compensation for your services. By accepting this Award, you consent to any and all Plan amendments, vesting restrictions, and revisions to any other term or condition of this Award Agreement that may be required to comply with federal law or regulation governing compensation, whether such amendments, restrictions, or revisions are applied prospectively or retroactively to this or prior Awards. By accepting this Award, you also acknowledge and agree that it is subject to all of the requirements set forth in the Enterprise Compensation Policy and that you are subject to all of the restrictive covenants set forth in Section 13 of the Plan (i.e., non-solicit, confidentiality, non-disparagement).

		
	3.
	Your Award is initially being made in the form of Performance Stock Units (“PSUs”). Your Award will vest 100% on the third anniversary of the Grant Date (the “Vesting Date”), subject to your continued employment with the Company or one of its Affiliates through the Vesting Date (or as otherwise set forth herein or in the Plan); provided, that the actual number of PSUs vesting and converting to Shares (such number of PSUs to be within a range of 0% to 150% of the number of the Target PSUs (as defined below)) (the “Adjusted PSUs”) shall be determined based on the achievement of the Performance Metrics (as defined in Exhibit A attached hereto) during the Performance Period (as defined below). For purposes of this Award Agreement, the “Performance Period” means the period commencing on January 1, 2018 and ending on December 31, 2019. Immediately following the end of the Performance Period, your Adjusted PSUs may, at the discretion of the Company, convert into a number of Shares of Restricted Stock equal to the number of Adjusted PSUs. Your Adjusted PSUs or Shares of Restricted Stock (as the case may be) will remain subject to your continued employment with the Company and its Affiliates through the Vesting Date and will be forfeited and cancelled if you do not remain employed with the Company and its Affiliates through the Vesting Date, except as otherwise explicitly provided below.

Grant Date:    «Date»
Number of Target PSUs Granted: «Total_Shares» (“Target PSUs”)

		
	4.
	This Award Agreement will become effective after you have printed, signed, dated one copy of this Award Agreement, and returned the signed copy (all pages) to: Brett Harrison at Ally Financial, e-mail Brett.Harrison@ally.com.  If you do not accept this Award Agreement within 45 days of notification, [INSERT DATE] you will be deemed to have rejected the Award and this Award Agreement will be null and void and without any further force or effect.

		
	5.
	Subject to requirements of any federal laws or regulations and Ally policy that govern compensation (see paragraph 2 above), and subject to the terms of the Plan and this Agreement, the Company will deliver the Shares earned with respect to the Adjusted PSUs or will remove the restrictions imposed on any Shares of Restricted Stock delivered in respect of your Adjusted PSUs as of the Vesting Date, in accordance with paragraph 3 above.

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«First_and_Last_Name» 
«Date»

		
	6.
	If on the Grant Date you are considered a material risk taker (MRT), in connection with regulatory guidance and in support of its corporate governance principles, to the extent that any portion of the Award remains unpaid, Ally reserves the right to adjust downward the amount of this Award without your consent to reflect adverse outcomes attributable to inappropriate, excessive, or imprudent risk taking in which you participated and which was the basis for this Award. Your Award is also subject to cancellation, recovery, forfeiture, or repayment consistent with Ally’s recoupment policy contained in the Enterprise Compensation Policy.

		
	7.
	Sections 11 and 12 of the Plan provide for the treatment of Awards in the event of a Termination of Service or Change in Control; provided, however:

If you experience a Termination of Service without Cause by the Company or a Qualifying Termination (whether as a result of a Sale of your Business Unit or otherwise), in each case, other than in connection with a Change in Control, your unvested PSUs or Shares of Restricted Stock under this Award (as the case may be) will become nonforfeitable on the date of such Termination of Service and your Award will continue to be earned and vest in accordance with paragraph 3 of this Award Agreement based on the achievement of the Performance Metrics (even though you are not employed by the Company or one of its Affiliates on the Vesting Date) and will be settled as of the Vesting Date in accordance with paragraph 5 above; provided, however, that if, as of the Vesting Date, the number of Shares underlying the Adjusted PSUs or the number of Shares of Restricted Stock that you hold under this Award (as the case may be) exceeds the number of Shares underlying the Target PSUs (the number of such excess Shares, the “Above Target Shares”), then the number of Above Target Shares that will be delivered to you will be determined by multiplying (a) the number of Above Target Shares by (b) a fraction, (i) the numerator of which is the number of calendar days during the Performance Period prior the date your termination of employment and (ii) the denominator of which is the number of calendar days during the Performance Period and any PSUs or Shares under this Award in excess of this amount will be forfeited and cancelled (the “Excess Adjustment”).

		
	8.
	If the Company pays a dividend on Shares prior to the Vesting Date, you will be entitled to a dividend equivalent payment in the same amount as the dividend you would have received if you held the number of Shares, if any, as earned and vested as of the Vesting Date. These dividends will vest and be paid to you on the Vesting Date (or such other vesting and settlement date applicable under paragraph 7 (above), subject to the vesting of your Award. No dividends or dividend equivalents will be paid to you with respect to any portion of your Award that is canceled or forfeited. The Company will decide on the form of payment and may pay dividends or dividend equivalents in Shares, in cash or in a combination thereof, subject to applicable law.

		
	9.
	You will have no voting rights with respect to the Shares underlying your Award unless and until you become the record owner of the Shares underlying your Award.

		
	10.
	You may designate a beneficiary using the Beneficiary Designation Form located on the Executive Deferred Compensation (EDC) Website. If no beneficiary is designated, or if the Ally determines that the beneficiary designation is unclear or that the designated beneficiary cannot be located, any settlement as a result of your death will be made to your estate. The EDC Website may also be used for any subsequent change in your beneficiary designation.

		
	11.
	The restrictions in Section 13(a) of the Plan on your ability to solicit any Ally client, customer, or employee for 24 months following your Termination of Service is grounded in Ally’s significant investment of time, effort, and expense in establishing client, customer, and employee relationships across Ally’s lines of business.  As this applies to you, the scope of the restriction on your ability to solicit Ally clients or customers will run commensurate with the scope of your responsibilities while employed by Ally.  That is, the terms “client or customer” as used in Section 13(a) (i.e., “(i) solicit any client or customer of the Company or any Affiliate with respect to a Competitive Activity”) shall  mean those clients or customers (whether current or prospective):  (i) with whom you had direct or indirect personal contact within the last 12 months of your employment with Ally; or (ii) about whom you learned confidential or proprietary information (including trade secrets) by virtue of your employment with Ally during the last 12 months of your employment with Ally.  The term “solicit” also shall include any communication or other interaction between you and a client or customer (whether current or prospective) that takes place to make sales to, perform services for, or otherwise further the business relationship with that client or customer (whether current or prospective).  Notwithstanding Section 21 of the Plan, Section 13(a) is governed by Michigan law without regard to its conflict of laws provision.  An action to enforce or 

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«First_and_Last_Name» 
«Date»

seek damages for breach of Section 13(a) may only be brought in a federal or state court of competent jurisdiction in Michigan.

		
	12.
	By accepting this Award, you understand and acknowledge that your Award is subject to the rules under Internal Revenue Code Section 409A, and agree and accept all risks (including increased taxes and penalties) resulting from Internal Revenue Code Section 409A.

		
	13.
	Except as prohibited by any federal law or regulation that governs compensation, see paragraph 2 above, your Award is subject to and governed by the terms and conditions of this Award Agreement and the Plan.  

		
	14.
	By accepting this Award, as evidenced by your signature below, you agree to abide by the terms and conditions of this Award Agreement and the Plan.

Sincerely yours,
                

Kathleen Patterson    
Chief HR Officer
«Date»

I HAVE READ THE PLAN DOCUMENT AND THIS AWARD AGREEMENT AND I ACCEPT THE AWARD REFERENCED ABOVE SUBJECT TO THE TERMS AND CONDITIONS OF THIS AWARD AGREEMENT AND THE ALLY FINANCIAL INC. INCENTIVE COMPENSATION PLAN.

	
					
	 
	 
	 

	Participant Signature (Required)
	 
	Date (Required)

	 
	 
	 
	 
	 

	 
	 
	 

	Last Four Digits of SSN or National ID (Required)
	 
	 

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EXHIBIT A

PERFORMANCE METRICS

The number of Adjusted PSUs will be based on the Company’s achievement during the Performance Period of the Core ROTCE and TSV (each as defined below) performance metrics (collectively, the “Performance Metrics”), determined in accordance with the following formula:
	
							
	Number of Target PSUs
	x
	Core ROTCE Adjustment 
Percentage
	x
	50%
	=
	Number of  
Core ROTCE Adjusted PSUs

	
							
	Number of Target PSUs
	x
	TSV
 Adjustment 
Percentage
	x
	50%
	=
	Number of  
TSV Adjusted PSUs

	
					
	Number of Core ROTCE Adjusted PSUs
	+
	Number of TSV Adjusted PSUs
	=
	Number of  
Adjusted PSUs

The “ROTCE Adjustment Percentage” and the “TSV Adjustment Percentage” will each be derived as set forth in the tables below and any fractional Shares resulting from the application of the ROTCE Adjustment Percentage or TSV Adjustment Percentage, as applicable, will be rounded up.
	
					
	Core ROTCE
	 
	TSV

	2-Year Average Annual Core ROTCE Achievement Level
(%)
	ROTCE Adjustment Percentage 
(%)
	 
	2-Year Average Annual TSV Growth Rate Achievement Level
(%)
	TSV Adjustment Percentage 
(%)

	>13.50
	150
	 
	>14.50
	150

	11.51 – 13.50
	125
	 
	11.51 – 14.50
	125

	9.51 – 11.50
	100
	 
	8.51 – 11.50
	100

	7.51 – 9.50
	75
	 
	5.51 – 8.50
	75

	5.51 – 7.50
	50
	 
	2.51 – 5.50
	50

	< 5.51
	0
	 
	< 2.51
	0

The below listed definitions will apply for purposes of this Award Agreement.
“Core ROTCE” means (i) Operating Net Income Available to Common divided by (ii) Normalized Common Equity.
“Core Net Income Available to Common” means: (i) pre-tax income from continuing operations, minus (ii) income tax expense, plus (iii) expense associated with original issue bond discount amortization (net of tax), minus (d) preferred dividends, plus (e) the impact of any disclosed repositioning items (net of tax).
“Normalized Common Equity” means the two period average of: (i) shareholder equity, minus (ii) book value of preferred stock outstanding, minus (iii) goodwill and other intangibles, minus (iv) remaining original issue bond discount, minus (v) remaining net deferred tax asset.
“Total Shareholder Value” or “TSV” means the sum of (i) Adjusted Tangible Book Value Per Share Growth, Year over Year, and (ii) Dividends Per Share.

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«First_and_Last_Name» 
«Date»

“Adjusted Tangible Book Value Per Share” means (i) Adjusted Tangible Book Value divided by (ii) end of period Shares outstanding.
“Adjusted Tangible Book Value” means: (i) shareholder equity, minus (ii) book value of preferred stock outstanding, minus (iii) goodwill and other intangibles, minus (iv) remaining original issue bond discount (net of tax).
“End of Period Shares Outstanding” means the number of common shares (Shares) outstanding at the end of the period.
“Dividend Per Share” means (i) the total annual dividend payout ($) per share divided by (ii) Average Adjusted Tangible Book Value Per Share.
“Total Annual Dividend payout ($) per Share” means (i)Total dollars paid for Common Dividends in the period divided by (ii) End of Period Shares Outstanding
“Average Adjusted Tangible Book Value per Share” means two period average of Adjusted Tangible Book Value.
The goals in setting target levels for ROTCE and TSV are to align the interests of management with those of Ally’s shareholders, to incent forward-looking and sustained performance, and to drive balanced risk-taking. Ally and its shareholders would not be well served by rewarding or penalizing management for items that impact ROTCE or TSV but that would not further the achievement of these goals. As a result, for purposes of calculating ROTCE and TSV for a fiscal year, each of the following items shall be excluded to the extent such item is material and was not taken into account in establishing the target levels:
(i)litigation and regulatory judgments, charges or settlements and any accruals or reserves relating to litigation or regulatory matters;
(ii) the effect of changes in law applicable to Ally which shall be measured based on the effect of the changes on revenue, income, assets and liabilities demonstrably caused by such changes in law;
(iii) the effect of changes in accounting principles, including any related accounting restatements;
(iv) income, expenses, gains or losses from discontinued operations;
(v) the charges and other costs and balance sheet impacts associated with any acquisition, divestiture, restructuring or pre-payment or other early retirement of outstanding debt, and, in the case of an acquisition, any income or loss associated with the acquired business or assets during the same fiscal period; and
 (vi) any items that are categorized as unusual in nature or infrequently occurring within the meaning of GAAP. Adjustments for these excluded items will be made in a manner so that participants are neither penalized nor rewarded for these items. Adjustments for these excluded items will be applied formulaically consistent with principles historically applied and in a manner that will not trigger a modification or new measurement date with respect to any award under GAAP.
The Compensation, Nominating and Governance Committee of the Board of Directors of the Company shall have sole and exclusive authority and discretion to make all determinations and resolve all ambiguities, questions and disputes relating to the calculation of Core ROTCE and TSV and the level of earning and vesting of this Award.

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