Document:

Form of Restricted Stock Unit Agreement

 Exhibit 10.47 
 2003 STOCK INCENTIVE PLAN 
 OF RF MICRO DEVICES, INC. 

Restricted Stock Unit Agreement 
 (Performance-Based and Service-Based Award for Senior Officers) 
 THIS
AGREEMENT (together with Schedule A and Schedule B, attached hereto, the “Agreement”), made effective as of                     
(the “Effective Date”) between RF MICRO DEVICES, INC., a North Carolina corporation (the “Company”), and
                    , an employee of, or individual in service to, the Company or a related entity (the “Participant”); 

R E C I T A L S: 
 WHEREAS, the Compensation Committee (the “Committee”) of the Board of Directors has approved the grant to the Participant of a contingent right to receive an award of restricted stock units (as
defined in Section 4, below, the “Award”) for shares of the Company’s common stock (the “Common Stock”) issuable under the RF Micro Devices, Inc. 2003 Stock Incentive Plan, as amended (or any successor plan)
(collectively, the “Plan”), the grant of which Award is subject to the attainment of certain performance objectives and the vesting of which Award is subject to certain service requirements, as further described in this Agreement;

 NOW, THEREFORE, in furtherance of the purposes of the Plan, the Company and the Participant hereby agree as follows:

 1. Incorporation of Plan. The rights and duties of the Company and the Participant under this Agreement shall in all
respects be subject to and governed by the provisions of the Plan, the terms of which are incorporated herein by reference. In the event of any conflict between the provisions in the Agreement and those of the Plan, the provisions of the Plan shall
govern. Unless otherwise defined herein, capitalized terms in this Agreement shall have the same definitions as set forth with the Plan. 
 2. Certain Defined Terms. The following terms used in this Agreement shall have the meanings set forth in this Section 2: 

(a) The “Award Date” is the date on which the Award or any portion of the Award is or may be granted to the
Participant following the Administrator’s determination regarding whether all or a portion of the Performance Objectives have been attained and completion of such other action as may be necessary to complete the grant of the Award or a portion
of the Award. Performance Objectives may have separate Award Dates. 
 (b) The “Effective Date” is the
effective date of the Agreement, as stated above. 
 (c) The “Participant” is
                    . Employee ID#             . 

(d) “Performance Objectives” are the specific performance objectives identified in Schedule B attached hereto.

 (e) The “Performance Period” “ or “Performance Periods” shall be the Performance
Period or Performance Periods as described in Schedule B. Performance Objectives may have different Performance Periods, if so provided in Schedule B. 
  

 (f) The “Restriction Period” is the period beginning on the Award
Date and ending on such date or dates and occurrence of such conditions as described in Section 3 of Schedule A attached hereto. 
 (g) The “Shares” shall be that number, if any, of shares of Common Stock subject to the Award which are or may be granted under this Agreement, as such number may be determined in accordance
with Section 1 of Schedule A. 
 3. Award Opportunity; Incorporation of the Terms of Schedule A and Schedule B
of the Agreement. 
 (a) The Company hereby grants to the Participant an opportunity to be granted the Award
for a certain number of shares of Common Stock (as defined above, the “Shares”) based upon the attainment of at least one and up to five of the Performance Objectives, all as described in Schedule A and Schedule B, during the applicable
Performance Period. The number, if any, of shares of Common Stock subject to the Award shall be determined by the Administrator based on the achievement by the Company of the Performance Objectives described in Schedule B. No Award of Shares is
being granted at this time, and no Award shall be granted unless and until the Administrator, in its sole discretion and in accordance with the terms of the Plan and this Agreement, determines whether and to what extent the Award has been earned
(including but not limited to determining whether and to what extent the Performance Objectives have been met), determines the number of Shares that shall be subject to the Award and takes any other action it deems necessary or advisable in order to
complete the grant. 
 (b) The Participant expressly acknowledges that the terms of Schedule A and
Schedule B shall be incorporated herein by reference and shall constitute part of this Agreement. The Company and the Participant further acknowledge that the Company’s signature on the signature page hereof, and the Participant’s
signature on the Grant Letter contained in Schedule A, shall constitute their acceptance of all of the terms of this Agreement. 
 4. Grant of Award of Restricted Stock Units. Subject to the terms of this Agreement and the Plan, the Company shall grant the Participant an award of restricted stock units (the “Award”)
for that number of Shares of Common Stock as is determined in accordance with Schedule A and Schedule B if and only if a minimum of one (and up to five) of the Performance Objectives are met during the Performance Period, as further described in
Schedule A and Schedule B. The number of Shares, if any, subject to the Award shall be determined by the Administrator in its sole discretion in accordance with the Plan and this Agreement (including Schedule A and Schedule B) following completion
of the applicable Performance Period. The Award Date shall be as soon as practicable after the end of each applicable Performance Period and the Administrator’s determination of the extent, if any, to which the Performance Objectives have been
met and the Award has been earned. The Company shall give notice to the Participant after each Performance Period regarding whether the Award applicable to that Performance Period has been granted and the number of Shares subject to the Award.

 5. Dividends and Voting Rights. The Participant or his legal representatives, legatees or distributees shall not be
deemed to be the holder of any Shares subject to the Award and shall not have any dividend rights, voting rights or other rights as a shareholder unless and until (and then only to the extent that) the Award has been earned and vested and
certificates for such Shares have been issued and delivered to him or them (or, in the case of uncertificated shares, other written evidence of ownership in accordance with applicable laws shall have been provided). 

  
  

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 6. Vesting of Award. 

(a) Subject to the terms of the Plan and the Agreement, the Shares subject to the Award shall be deemed vested, and such
Shares shall be distributable as provided in Section 8 herein, upon such date or dates, and subject to such conditions, as are described in this Agreement, including Section 3 of Schedule A. Without limiting the effect of the foregoing,
the Shares subject to the Award may vest in installments over a period of time, if so provided in Schedule A. The Participant expressly acknowledges that the Award shall vest only upon such terms and conditions as are provided in Schedule A
of this Agreement and otherwise in accordance with the terms of the Plan. 
 (b) The Administrator has sole
authority to determine whether and to what degree the Award has been earned and vested and to interpret the terms and conditions of this Agreement and the Plan. 
 7. Effect of Termination of Employment; Forfeiture of Award. Except as may be otherwise provided in the Plan or the Agreement (including but not limited to Schedule A), in the event that the
employment or service of the Participant is terminated for any reason and the Award has not been earned and vested pursuant to the terms of this Agreement, then the Award, to the extent not earned and vested as of the Participant’s termination
date, shall be forfeited immediately upon such termination, and the Participant shall have no further rights with respect to the Award or the Shares underlying that portion of the Award that has not yet been earned and vested. The Participant
expressly acknowledges and agrees that the termination of his employment or service shall (except as may otherwise be provided in the Agreement or the Plan) result in forfeiture of the Award and the Shares to the extent the Award has not been earned
and vested as of the date of his termination of employment or service. 
 8. Settlement of Award. The Award, if earned
and vested in accordance with the terms of the Agreement, shall be payable in whole shares of Common Stock. A certificate or certificates for Shares subject to the Award shall be issued in the name of the Participant (or his beneficiary) as soon as
practicable after, and only to the extent that, the Award (or portion thereof) has vested. 
 9. No Right of Continued
Employment or Service. Nothing contained in this Agreement or the Plan shall confer upon the Participant any right to continue in the employment or service of the Company or a related entity or to interfere in any way with the right of the
Company or a related entity to terminate the Participant’s employment or service at any time. Except as otherwise expressly provided in the Plan and this Agreement (including but not limited to Schedule A), all rights of the Participant
under the Plan with respect to the unearned or unvested portion of his Award shall terminate upon the termination of employment or service of the Participant with the Company or a related entity. 

10. Nontransferability of Award and Shares. The Award shall not be transferable (including by sale, assignment, pledge or
hypothecation) other than by will or the laws of intestate succession. The designation of a beneficiary does not constitute a transfer. The Participant shall not sell, transfer, assign, pledge or otherwise encumber the Shares subject to the Award
until all conditions to vesting have been met. 

  
  

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 11. Withholding; Tax Consequences. 

(a) The Participant acknowledges that the Company shall require the Participant to pay the Company the amount of any
federal, state, local, foreign or other tax or other amount required by any governmental authority to be withheld and paid over by the Company to such authority for the account of the Participant, and the Participant agrees, as a condition to the
grant of the Award, to satisfy such obligations. Without limiting the effect of the foregoing, the Participant understands and agrees that the Administrator may delay the vesting of the Award (or portion thereof) and the issuance of the underlying
Shares in order to comply with applicable federal, state, local, foreign or other tax and securities laws, rules and regulations or applicable policies of the Company implemented to ensure compliance with such laws (including but not limited to
insider trading provisions and the Company’s insider trading policy); provided, however, that any such delay in vesting of the Award or issuance of Shares shall not apply to any Shares subject to an effective Rule 10b5-1 trading plan.

 (b) The Participant acknowledges that the Company has made no warranties or representations to the
Participant with respect to the tax consequences (including but not limited to income tax consequences) with respect to the transactions contemplated by this Agreement, and the Participant is in no manner relying on the Company or its
representatives for an assessment of such tax consequences. The Participant acknowledges that there may be adverse tax consequences upon the grant of the Award and/or the acquisition or disposition of the Shares subject to the Award and that the
Participant has been advised that he should consult with his own attorney, accountant and/or tax advisor regarding the decision to enter into this Agreement and the consequences thereof. The Participant also acknowledges that the Company has no
responsibility to take or refrain from taking any actions in order to achieve a certain tax result for the Participant. 
 12.
Administration. The authority to construe and interpret this Agreement and the Plan, and to administer all aspects of the Plan, shall be vested in the Administrator, and the Administrator shall have all powers with respect to this Agreement
as are provided in the Plan. Any interpretation of the Agreement by the Administrator and any decision made by it with respect to the Agreement is final and binding. 
 13. Superseding Agreement; Binding Effect. This Agreement supersedes any statements, representations or agreements of the Company with respect to the grant of the Award or any related rights, and
the Participant hereby waives any rights or claims related to any such statements, representations or agreements. Except as may be otherwise provided in Section 18 of the Plan, this Agreement does not supersede or amend any existing Change in
Control Agreement, Inventions, Confidentiality and Nonsolicitations Agreement, Employment Agreement or any other similar agreement between the Participant and the Company, including, but not limited to, any restrictive covenants contained in such
agreements. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective executors, administrators, next-of-kin, successors and assigns. 

14. Governing Law. Except as otherwise provided in the Plan or herein, this Agreement shall be construed and enforced according to
the laws of the State of North Carolina, without regard to the conflict of laws provisions of any state, and in accordance with applicable federal laws of the United States. 
 15. Amendment and Termination; Waiver. Subject to the terms of the Plan and this Agreement, this Agreement may be modified or amended only by the written agreement of the parties hereto.
Notwithstanding the foregoing, the Administrator shall have unilateral authority to amend the 

  
  

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Agreement (without Participant consent) to the extent necessary to comply with applicable law or changes to applicable law (including but not limited to Code Section 409A). The waiver by the
Company of a breach of any provision of the Agreement by the Participant shall not operate or be construed as a waiver of any subsequent breach by the Participant. 
 16. Notices. Except as may be otherwise provided by the Plan, any written notices provided for in this Agreement or the Plan shall be in writing and shall be deemed sufficiently given if either
hand delivered or if sent by fax or overnight courier, or by postage paid first class mail. Notices sent by mail shall be deemed received three business days after mailed but in no event later than the date of actual receipt. Notice may also be
provided by electronic submission, if and to the extent permitted by the Administrator. Notices shall be directed, if to the Participant, at the Participant’s address indicated by the Company’s records, or if to the Company, at the
Company’s principal office, attention Treasurer, RF Micro Devices, Inc. 
 17. Severability. The provisions of this
Agreement are severable and if any one or more provisions may be determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable. 

18. Restrictions on Award and Shares. The Company may impose such restrictions on the Award and any Shares issued pursuant to the
Award as it may deem advisable, including without limitation restrictions under the federal securities laws, the requirements of any stock exchange or similar organization and any blue sky or state securities laws applicable to such Award or Shares.
Notwithstanding any other provision in the Plan or the Agreement to the contrary, the Company shall not be obligated to issue, deliver or transfer shares of Common Stock, to make any other distribution of benefits, or to take any other action,
unless such delivery, distribution or action is in compliance with all applicable laws, rules and regulations (including but not limited to the requirements of the Securities Act). The Company may cause a restrictive legend to be placed on any
certificate for Shares issued pursuant to the Award in such form as may be prescribed from time to time by applicable laws and regulations or as may be advised by legal counsel. The Administrator may delay the right to receive or dispose of shares
of Common Stock (or other benefits) upon settlement of the Award at any time if the Administrator determines that allowing issuance of shares of Common Stock (or distribution of other benefits) would violate any federal, state or foreign securities
laws or applicable policies of the Company, and the Administrator may provide in its discretion that any time periods to receive shares of Common Stock (or other benefits) subject to the Award are tolled or extended during a period of suspension or
delay; provided, however, that any such delay, suspension, tolling or extension shall not apply to any Shares subject to an effective Rule 10b5-1 trading plan. 
 19. Counterparts; Further Instruments. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the
same instrument. The parties hereto agree to execute such further instruments and to take such further action as may be reasonably necessary to carry out the purposes and intent of this Agreement. 

[Signature Page to Follow] 

  
  

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 IN WITNESS WHEREOF, this Agreement has been executed on behalf of the Company and by the
Participant effective as of the Effective Date stated on page one of this Agreement. 
  

			
	RF MICRO DEVICES, INC.
		
	By:	 	  

		 	Robert A. Bruggeworth
		 	President and Chief Executive Officer

  

	
	Attest:
	
	 
	William Priddy
	Secretary & Chief Financial Officer

 [Signature page of Participant to follow on Schedule A/Grant Letter] 

 

  
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 2003 Stock Incentive Plan of RF Micro Devices, Inc. 

Restricted Stock Unit Agreement 
 (Performance-Based and Service-Based Award for Senior Officers) 

Schedule A/Grant Letter 
 1. Award Opportunity. 
 (a) Pursuant to the terms and
conditions of the Company’s 2003 Stock Incentive Plan, as amended (the “Plan”), you (the “Participant”) are eligible to be granted an award of restricted stock units (the “Award”) for that number of Shares (the
“Shares”) of Common Stock as may be determined pursuant to Section 1 herein. 
 (b) No Award will
be granted unless at least one of the Performance Objectives is met during the applicable Performance Period. Each of the Performance Objectives is expressed as a fixed or variable percentage of the Target number of shares shown in Section 1(c)
below. If a Performance Objective is met, the Participant shall be granted an Award for a number of shares equal to the Target multiplied by the percentage assigned to such Performance Objective. One or more of the Performance Objectives may contain
a variable percentage of the Target shares based on performance of criteria applicable to such Performance Objective, and the Administrator has the sole discretion to determine if, and to what extent on a percentage basis, any such Performance
Objectives are met. If all five of the Performance Objectives are fully met, the Participant shall be granted an Award for the Maximum number of shares (125% of Target) shown in Section 1(c) below. The Award shall not be granted for a
particular Performance Objective until following the end of the Performance Period for that Performance Objective and then only if the terms and conditions described in the Agreement have been met. The actual number of shares which may be subject to
the Award shall be as provided in Section 1(c) below. 
 (c) Number of Shares Potentially Subject to Award:

       Target Number of Shares (100% of Target): 

      Maximum Number of Shares (125% of Target): 

(d) The Performance Objectives must be met, if at all, during the applicable Performance Period. The Administrator has
sole discretion to determine if, and to what extent, any or all Performance Objectives are met and to interpret the other terms and conditions of this Agreement. 
 2. Performance Objectives. The Performance Objectives for the applicable Performance Period pursuant to this Agreement, and the applicable weighting of each Performance Objective expressed as a
percentage of the Target shares, shall be as stated in Schedule B, attached hereto, the terms of which shall be incorporated in and constitute a part of the Agreement. 
 3. Vesting of Award. If the Award is granted in accordance with this Agreement, the Award shall vest as follows: 

(a) General: 
 (i) The Award shall be deemed vested with respect to fifty percent (50%) of the Shares subject to the Award on the Award Date, subject to the continued employment or service of the Participant with
the Company or a related entity through such vesting date; 
 (ii) The Award shall be deemed vested with respect
to an additional twenty-five percent (25%) (for a total of seventy-five percent (75%)) of the Shares subject to the Award on the first anniversary of the earliest Award Date applicable to any Performance Objective covered by this
Agreement, subject to the continued employment or service of the Participant with the Company or a related entity through such vesting date; and 

  
 A-1

 (iii) The Award shall be deemed vested with respect to an additional
twenty-five percent (25%) (for a total of one hundred percent (100%)) of the Shares subject to the Award on the second anniversary of the earliest Award Date applicable to any Performance Objective covered by this Agreement, subject to the
continued employment or service of the Participant with the Company or a related entity through such vesting date. 
 (b) Special Post-Termination Vesting Terms: Notwithstanding the provisions of Section 3(a), the following terms shall apply: 

(i) In the event of the Participant’s termination of employment or service for cause (as defined in the Plan), the
Award (and any remaining right to underlying Shares) shall be forfeited immediately. 
 (ii) In the event of the
Participant’s termination of employment or service due to death, the Award (and any remaining right to underlying shares) shall be forfeited automatically effective as of the date of the Participant’s death.  

(iii) In the event of the Participant’s termination of employment or service for any reason other than death or for
cause (including termination due to disability), the Award shall continue to vest according to the Vesting Schedule stated in Section 3(a) above of this Schedule A as if the Participant had remained an employee of, or service provider to, the
Company, but only if the Participant enters into a noncompetition agreement (the “Noncompetition Agreement”), and, if so determined by the Company, a severance or other similar agreement (the “Severance Agreement”) with the
Company, in each case in form acceptable to the Company and containing such terms as may be specified by the Company in the exercise of its discretion, within twenty (20) days following termination of employment or service (or, if later, by the
end of any applicable statutory revocation period) and abides by the terms of such Noncompetition Agreement and, if applicable, Severance Agreement. In the event that the Participant fails to enter into such Noncompetition Agreement and, if
applicable, Severance Agreement, within twenty (20) days following his termination of employment or service (or, if later, by the end of any applicable statutory revocation period), the Award (and any remaining right to underlying Shares) shall
be deemed forfeited in its entirety as of the date of the Participant’s termination of employment or service. If the Participant enters into the Noncompetition Agreement and, if applicable, the Severance Agreement, and the Administrator
determines in the exercise of its discretion that the Participant has committed a material breach or violation of the Noncompetition Agreement, the Severance Agreement or the Inventions, Confidentiality and Nonsolicitation Agreement previously
entered into between the Company and the Participant (the “ICN Agreement”) at any time on or prior to the date the last installment of Shares covered by the Award vests under this Agreement (without regard to when the Administrator first
discovers or has notice of such breach or violation), then, in addition to any other remedies available to the Company at law or in equity as a result of such breach or violation, (A) the Award (and any remaining right to underlying Shares)
shall immediately be forfeited in its entirety; (B) any Shares subject to the Award that vested following termination of employment or service shall immediately be forfeited and returned to the Company (without the payment of any consideration
for such Shares, including repayment of any amount paid by the Participant with respect to taxes related to the grant or vesting of the Award), and the Participant shall cease to have any interest in or right to such Shares and shall cease to be
recognized as the legal owner of such Shares; and (C) any Gain (as defined herein) realized by the Participant with respect to any Shares issued 

  
 A-2

 
following termination of employment shall immediately be paid by the Participant to the Company. For the purposes herein, “Gain” shall mean the fair market value (as defined in the
Plan) of the Company’s Common Stock on the date of sale or other disposition, multiplied by the number of Shares sold or disposed of. If the Participant terminates service for reasons other than death or cause, and subsequently dies, to the
extent the Award is not fully vested as of the date of the Participant’s death, the Award shall automatically fully vest effective as of the date of Participant’s death. The Administrator shall have discretion to determine the basis for
termination, whether any breach of the Noncompetition Agreement, the Severance Agreement or the ICN Agreement has occurred and to otherwise interpret this Section 3. 

(iv) Any shares of Common Stock issuable to the Participant following termination of employment or service pursuant to
Section 3(b) herein shall be issued in accordance with the vesting schedule stated in Section 3(a) above and shall be distributed on such vesting dates or a later date(s) within the same taxable year of the Participant, or, if later, by
the 15th day of the third calendar month following the date(s) specified in Section 3(a) and the Participant shall not be permitted, directly or indirectly, to designate the taxable year of distribution, or shall otherwise be made in accordance
with Code Section 409A and related regulations. 
 By my signature below, I, the Participant, hereby acknowledge receipt of
this Grant Letter and the Restricted Stock Unit Agreement (the “Agreement”) effective as of                     , between the
Participant and the Company which is attached to this Grant Letter. I understand that the Grant Letter and other provisions of Schedule A and Schedule B herein are incorporated by reference into the Agreement and constitute a part of the
Agreement. By my signature below, I further agree to be bound by the terms of the Plan and the Agreement, including but not limited to the terms of this Grant Letter and the other provisions of Schedule A and Schedule B contained herein. The
Company reserves the right to treat the Award and the Agreement as cancelled, void and of no effect if the Participant fails to return a signed copy of the Grant Letter within 30 days of receipt. 

 

									
	Signature:	 	  
	 		 	Date:	 	 

 Note: If there are any discrepancies in the name shown above, please make the appropriate corrections on this form and
return to Todd Bender, RF Micro Devices, Inc., 7628 Thorndike Road, Greensboro, NC 27409-9421. Please retain a copy of the Agreement, including this Grant Letter, for your files. 

  
 A-3

 2003 Stock Incentive Plan of RF Micro Devices, Inc. 

Restricted Stock Unit Agreement 
 (Performance-Based and Service-Based Award for Senior Officers) 

Schedule B 
 Performance Period and Performance Objectives 
 Performance Period

 The Performance Period is the period beginning
                    , 20    , and ending on
                    , 20    ; provided that for the
            Performance Objective identified in Schedule B attached hereto, the “Performance Period” is the period beginning
                    , 20     and ending on the earlier of (i) the date following the end of the Performance
Period for the other Performance Objectives as specified above on which the Administrator determines that such Performance Objective has been met, or
(ii)                     , 20    . 
 [Identify any Objectives that have different Performance Periods and specify the Period(s)] 
 Performance Objectives 
 The Performance Objectives for the Performance Period(s)
applicable to the Participant pursuant to the Agreement are as follows: 
 [Insert Performance Objectives]

  
 B-1EX-10.1

 Exhibit 10.1 

 
 

 
 Novelis - 2013 Long-Term Incentive Plan (“2013 LTIP”) 

Key features of the plan: 
  

	1.	 Title and Administration: The plan shall be referred to as the 2013 LTIP. The plan will be administered by Novelis Corporate Human Resources.

  

	2.	 Performance Period: For this plan, the performance period will be FY 2013, FY 2014, FY 2015 and FY 2016. The exact period of assessment will
be April 1, 2012 to March 31, 2016. 

  

	3.	 Eligibility: Eligibility for this plan will be Band 5 and above. High potential and critical resource employees at Band 6 and below will
participate on an exception basis. 

  

	4.	 Opportunity: The target opportunity for each Band as approved by the Compensation Committee or the Board as appropriate.

  

	5.	 Plan Design Summary: 

 The opportunity will be in the form of Stock Appreciation Rights (SARs) and Restricted Stock Units (RSUs) with 80% of the opportunity in SARs and 20% of the opportunity in RSUs. 

Details on the SARs: 
  

	 	•	 	 Each SAR will be equivalent to one Hindalco share. 

 

	 	•	 	 The exercise price of the SARs will be determined by using the average of the high and low of the stock price of Hindalco shares on the date
of grant (May 22, 2012). 

  

	 	•	 	 The SARs would vest 25% each year for 4 years, subject to performance criteria being fulfilled. 

 

	 	•	 	 The performance criterion for vesting is actual vs. target performance of Normalized EBITDA for Overall Novelis as approved each year.

  

	 	•	 	 The threshold would be 75% performance of target each year, at which point 75% of all SARs due that year, would vest — there would be
straight line vesting up to 100%. 

  

	 	•	 	 Vested SARs could be exercised and paid in cash at any time during the seven-year life of the plan by the employee.

  

	 	•	 	 The value of the SARs is dependent on the share price of Hindalco at the time of exercise. 

 

	 	•	 	 Cash payouts for SARs will be restricted to a maximum of 2.5 times target if exercised within one year of vesting and a maximum of 3 times
target if exercised after the first year. 

 Details on RSUs: 

 

	 	•	 	 Each RSU will be equivalent to one Hindalco share. 

  

	 	•	 	 The initial value of each RSU will be determined by using the average of the high and low of the stock price of Hindalco shares on the date
of grant (May 22, 2012). 

  

	 	•	 	 The RSUs will vest in full on the third anniversary of the grant, May 22, 2015 at which time the value will be paid in cash to the
participant subject to a cap of 3 times the initial value. 

  

	6.	 Measures to be used for vesting of SARs: The SARs will vest subject to the target Normalized EBITDA threshold being achieved. Normalized
EBIDTA is defined as Net Revenues — COGS without depreciation — S&AE — R&D + Realized G/L on Derivatives. 

  

	7.	 Other aspects of the plan: 

  

	 	a.	 Valuation: The Black Scholes method of valuation will be used. This valuation will be used as an input to arrive at the number of SARs to be granted
to employees. 

  

	 	b.	 Date of Grant: The SARs are granted on the date of approval from the Board which is May 22, 2012. 

 

	 	c.	 Hires after May 2012 will be treated in the following manner: 

 

	 	i.	 Employees who join between June 1 and September 30, 2012 will be granted SAR and RSU opportunities at 90% of the target amount for the
employee’s Band. The grant date will be the following October 1 and will be determined by using the average of the high and low of the stock price of Hindalco shares on the date of grant. 

 

	 	ii.	 Employees who join between October 1 and December 31 will be granted SAR and RSU opportunities at 75% of the target amount for the
employee’s Band. The grant date will be the following January 1 and will be determined by using the average of the high and low of the stock price of Hindalco shares on the date of grant. 

 

	 	iii.	 Employees who join between January 1 and March 31 will not be eligible for SAR or RSU opportunities under this plan.

  

	 	d.	 Promotions into an LTI eligible band during the year will be treated in the following manner: 

 

	 	i.	 Employees who are promoted into an eligible band between April 1 and May 30, 2012, will be eligible for a full LTI award in the current
fiscal year. 

  

	 	ii.	 Employees who are promoted into an eligible band between June 1 and September 30, 2012 will be granted SAR and RSU opportunities at 90% of
the target amount for the employee’s Band. The grant date will be the following October 1 and will be determined by using the average of the high and low of the stock price of Hindalco shares on the date of grant.

  

	 	iii.	 Employees who are promoted into an eligible band between October 1 and December 31 will be granted SAR and RSU opportunities at 75% of the
target amount for the employee’s Band. The grant date will be the following January 1 and will be determined by using the average of the high and low of the stock price of Hindalco shares on the date of grant. 

 

	 	iv.	 Employees who are promoted into an eligible band between January 1 and March 31 will not be eligible for SAR or RSU opportunities under
this plan. 

  

	 	e.	 Promotions into a higher LTI eligible band during the year will be treated in the following manner: 

 

	 	i.	 Employees who are promoted into a higher LTI eligible band between April 1 and May 30, 2012 will be eligible for a full LTI award in the
current FY cycle. 

  
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	 	ii.	 Employees who are promoted into a higher LTI eligible band after May 30, will not be eligible for SAR or RSU opportunities under this plan.

  

	8.	 Below are the treatment rules governing separation from the Company: 

 

					
	 Event
	  	 Issue
	  	 LTIP Treatment

	 Death
	  	 SARs — Vesting treatment for unvested SARs
	  	 There will be immediate vesting of all SARs.

			
		  	 SARs — Time allowed to exercise
	  	 One year to exercise, not to exceed the term of the award.

			
		  	 RSUs — Vesting
	  	 RSUs will vest on a prorated* basis and cashed out 30 days following the date of death.

			
	 Disability
	  	 SARs — Vesting treatment for unvested SARs
	  	 There will be immediate vesting of all SARs.

			
		  	 SARs — Time allowed to exercise
	  	 One year to exercise, not to exceed the term of the award.

			
		  	 RSUs — Vesting
	  	 RSUs will vest on a prorated* basis and cashed out 30 days following the date of disability.

			
	 Retirement
	  	 SARs — Vesting treatment for unvested SARs
	  	 If an employee retires more than one year from the date of grant, SARs will continue to vest and must be exercised no later than the third anniversary of
retirement. Previously vested SARs must be exercised prior to the end of the term of the award. In the event Participant terminates employment due to Retirement before May 22, 2013, all unvested SARs shall expire in their entirety at the close
of business on the date of such Retirement.

			
		  	 SARs — Time allowed to exercise
	  	 If an employee retires more than one year from the date of grant, SARs will continue to vest and must be exercised no later than the third anniversary of
retirement. Previously vested SARs must be exercised prior to the end of the term of the award. In the event Participant terminates employment due to Retirement before May 22, 2013, all vested SARs shall expire in their entirety at the close of
business on the date of such Retirement.

			
		  	 RSUs — Vesting
	  	 RSUs will vest on a prorated* basis and the vested portion will be cashed out at the earlier of 6 months following the date of retirement or May 22,
2015.

			
	 Change in Control
	  	 SARs — Vesting treatment for unvested SARs
	  	 There would be immediate vesting of all unvested SARs.

			
		  	 SARs — Time allowed to exercise
	  	 All SARs will be cashed-out 30 days following the change in control.

			
		  	 RSUs — Vesting
	  	 There would be immediate vesting and cash-out of RSUs within 30 days following the change in control.

  
 3 

					
	 Event
	  	 Issue
	  	 LTIP Treatment

	 Voluntary
	  	 SARs — Vesting treatment for unvested SARs
	  	 Unvested SARs will lapse.

			
		  	 SARs — Time allowed to exercise
	  	 90 days to exercise, not to exceed the term of the award.

			
		  	 RSUs — Vesting
	  	 RSUs will be forfeited.

			
	Involuntary — Not For Cause	  	 SARs — Vesting treatment for unvested SARs
	  	 There would be prorated* vesting.

			
		  	 SARs — Time allowed to exercise
	  	 90 days to exercise, not to exceed the term of the award.

			
		  	 RSUs — Vesting
	  	 RSUs will vest on a prorated* basis and cashed out 30 days following the date of termination (or in the case of an employee who is eligible for retirement
at the time of termination, the earlier of 6 months following the date of separation or May 22, 2015).

			
	 For Cause
	  	 SARs — Vesting treatment for unvested SARs
	  	 Unvested SARs will lapse.

			
		  	 SARs — Time allowed to exercise
	  	 Forfeit

			
		  	 RSUs — Time allowed to exercise
	  	 RSUs will be forfeited

			
		  	 *  Proration — will be determined based on the number of full months completed specific to each
tranche.
	  	

  

	9.	 Interpretation. Novelis shall have the exclusive discretion to interpret and construe the terms and conditions of the plan, including but not
limited to the exclusive discretion to make all decisions regarding eligibility for and the amount of benefits payable under the plan. 

  

	10.	 Definitions. The following terms will have the meaning ascribed to them below. 

 

	 	a.	 Retirement: For the purposes of this plan, retirement is defined as separation from the Company at 65 years of age or a combination of
age and service greater than or equal to 65 with a minimum age of 55. 

  

	 	b.	 Change in Control: For purposes of this plan, a change in control means the first to occur of any of the following events: (i) any
person or entity (excluding any person or entity affiliated with the Aditya Birla Group) is or becomes the beneficial owner, directly or indirectly through any parent entity of the Company or otherwise, of securities of the Company (not including in
the securities beneficially owned by such person or entity any securities acquired directly from the Company or its affiliates, other than in connection with the acquisition by the Company or its affiliates of a business) representing 35% or more of
either the then outstanding shares of common stock of the Company or the combined voting power of the Company’s then outstanding securities; or (ii) the majority of the members of the Board of Directors of the Company is replaced during
any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election; or (iii) the consummation of a merger or consolidation of the Company
with any other entity not affiliated with the Aditya Birla Group, other than (a) 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 by being converted into voting securities of the surviving entity or any parent thereof), in combination with the ownership of any trustee or other fiduciary holding securities under an employee benefit
plan of the Company, 50% or more of the combined voting power of the voting securities of the Company or such surviving entity or any parent thereof outstanding immediately after such merger or consolidation, or (b) a merger or consolidation
effected to implement a recapitalization of the Company 

  
 4 

	 	 
(or similar transaction) in which no person or entity is or becomes the beneficial owner, directly or indirectly, of securities of the Company (not including in the securities beneficially owned
by such person or entity any securities acquired directly from the Company or its affiliates, other than in connection with the acquisition by the Company or its affiliates of a business) representing 50% or more of either the then outstanding
shares of common stock of the Company or the combined voting power of the Company’s then outstanding securities; or (iv) the sale or disposition of all or substantially all of the Company’s assets, other than a sale or disposition by
the Company of all or substantially all of its assets to a member of the Aditya Birla Group. Notwithstanding the foregoing, no “Change in Control” shall be deemed to have occurred if there is consummated any transaction or series of
integrated transactions immediately following which the record holders of the common stock of the Company immediately prior to such transaction or series of transactions continue to have substantially the same proportionate ownership in an entity
which owns all or substantially all of the assets of the Company immediately following such transaction or series of transactions. For purposes of this Section, “beneficial ownership” shall be determined in accordance with Rule 13d-3
under the Securities Exchange Act of 1934, as amended. 

  

	11.	 Compliance with §409A of the U.S. Internal Revenue Code of 1986, as amended: To the extent applicable, this plan shall be
interpreted and administered in a manner so that any amount or benefit payable hereunder shall be paid or provided in a manner that is either exempt from or compliant with the requirements Section 409A of the Internal Revenue Code of 1986, as
amended (“Section 409A”), and applicable Internal Revenue Service guidance and Treasury Regulations issued thereunder. Notwithstanding anything in this plan to the contrary, all payments and benefits under this plan that would
constitute non-exempt “deferred compensation” for purposes of Section 409A and that would otherwise be payable or distributable hereunder by reason of an individual’s termination of employment, will not be payable or
distributable to individual unless the circumstances giving rise to such termination of employment meet any description or definition of “separation from service” in Section 409A and applicable regulations (without giving effect to
any elective provisions that may be available under such definition). If this provision prevents the payment or distribution of any amount or benefit, such payment or distribution shall be made on the date, if any, on which an event occurs that
constitutes a Section 409A-compliant “separation from service.” Further, to the extent the individual is a “specified employee” within the meaning of Section 409A, then payment may not be made before the date which is
six (6) months after the date of separation from service (or, if earlier, the date of death of individual). 

  
 5

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