Document:

EX-10.7

 

Exhibit 10.7

LTIP AWARD AMENDMENT TO THE

FEDERAL HOME LOAN BANK OF CINCINNATI BENEFIT EQUALIZATION PLAN

(2002 Restatement)

          In order to permit participants in the Federal Home Loan Bank of Cincinnati
Long-Term Incentive Plans (the “LTIP”) to defer compensation attributable to the LTIP, the Federal
Home Loan Bank of Cincinnati (the “FHLBank”) hereby amends its Benefit Equalization Plan (2002
Restatement) (the “Plan”) as follows:

1.      Effective Date. The provisions of this Amendment shall be effective as of the date of
its adoption, set forth below.

2.       Deferral of LTIP Award. A new Section 4.11 is hereby added to the current end of
Article IV to provide in its entirety as follows:

          4.11       An employee who is a Member in this Plan, pursuant to Article II and Section 4.01,
and who is also a participant in the Federal Home Loan Bank of Cincinnati Executive
Long-Term Incentive Plan (the “LTIP”) may make an irrevocable election to defer all or any
portion of the participant’s LTIP award, provided, however, in order for an election to be
valid, the Member must complete and sign the form(s) specified by the Committee, and timely
return the form(s) to the Committee, in accordance with the Committee’s rules and
procedures. For an election regarding an amount that is Performance-Based Compensation (as
that term is defined in Code Section 409A and the final regulations promulgated thereunder)
to be timely, it must be made not later than the date that is six (6) months before the end
of the performance period. At the time of the deferral election, the Member must specify
the time and method of payment of the deferred amount. If the Member fails to timely
complete and return the required form(s), the deferral amount shall be zero for that LTIP
award. A Member’s election may be changed at any time prior to the last permissible date
for making the election as permitted in this Section 4.11, and shall thereafter be
irrevocable. The Committee may from time to time establish policies and rules consistent
with the requirements of Section 409A of the Code to govern the manner in which deferral
elections may be made. In accordance with its policies and rules, the Committee has
determined that the Members may generally elect to defer LTIP awards
during June of each year.

3.       Effect of Amendment on Plan. Except as provided in this Amendment, the provisions of
the Plan shall remain unchanged.

          IN WITNESS WHEREOF, the Federal Home Loan Bank of Cincinnati has caused this LTIP Award
Amendment to its Benefit Equalization Plan (2002 Restatement) to be
executed this 20th day of
March, 2008.

	 	 	 	 	 	 	 	 	 
	 	 	THE FEDERAL HOME LOAN BANK OF CINCINNATI	 	 
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 		/s/ David H. Hehman	 	 
	 	 	 	 	 	 
	 

	 		David H.
Hehman             
                
         Presidentexv10w1

 

	 	 	 	 	 

EXHIBIT 10.1

MOBILITY ELECTRONICS, INC.

2008 EXECUTIVE BONUS PLAN

Summary

     Mobility Electronics, Inc.’s Executive Bonus Plan (the “Plan”) is a discretionary cash
incentive program designed to motivate participants to achieve the company’s financial and other
performance objectives and to reward them for their achievements when those objectives are met.

Eligibility

     Participants are approved solely at the discretion of the Compensation and Human Resources
Committee of Mobility Electronics, Inc.’s Board of Directors (the “Committee”). No person
is automatically entitled to participate in the Plan in any year, and any eligible participant may
choose not to participate in the Plan in any year for any reason.

Administration

     The Committee is ultimately responsible for administering the Plan. The Committee has all
powers and discretion necessary or appropriate to review and approve the Plan and its operation,
including, but not limited to, the power to (a) determine which eligible participants shall be
granted bonus awards, (b) prescribe the terms and conditions of bonus awards, (c) interpret the
Plan, (d) adopt rules for the administration, interpretation and application of the Plan as are
consistent therewith, and (e) interpret, amend or revoke any such rules. All determinations and
decisions made by the Committee and any delegate of the Committee shall be final, conclusive, and
binding on all persons, and shall be given the maximum deference permitted by law. The Committee,
in its sole discretion and on such terms and conditions as it may provide, may delegate all or part
of its authority and powers under the Plan to one or more directors, officers and/or managers of
the Company. The Committee, in its sole discretion, may amend or terminate the Plan, or any part
thereof, at any time and for any reason.

Award Determination

     The Committee, in its sole discretion, will approve target bonuses for each participant.
Bonuses will be calculated using a formula that includes: (a) the executive’s salary, (b) the
executive’s target bonus, and (c) such other discretionary factors as the Committee determines
appropriate given the performance of the Company, and the participant’s contribution to the
Company’s overall performance, including, without limitation, the growth and creation of increased
stockholder value through the efficient use of Company assets.

Award Payouts

     Unless otherwise determined by the Committee, bonuses will be paid on an annual basis,
typically in February, and the bonus period is currently the fiscal year period.

1exv10w2

 

EXHIBIT 10.2

Amendment No. 1

To

Mobility Electronics, Inc.

Omnibus Long-Term Incentive Plan

Restricted Stock Unit Award Agreement

     This Amendment No. 1 to Restricted Stock Unit Award Agreement (the “Amendment”) is made this
19th day of March, 2008 (the “Amendment Date”) by and between Mobility Electronics, Inc.
(the “Company”) and Michael D. Heil (the “Participant”).

     WHEREAS, Participant and Company previously entered into that certain Restricted Stock Unit
Award Agreement, dated June 11, 2007 (the “Agreement”); and

     WHEREAS, Participant and Company desire to amend the terms of the Agreement pursuant to the
terms and conditions of this Amendment;

     NOW THEREFORE, in consideration of the mutual covenants contained herein and for other good
and valuable consideration, the Company and Participant agree that the Agreement shall be amended
as follows and, except as expressly amended pursuant to the terms contained herein, all other terms
and conditions of the Agreement shall remain in full force and effect:

     1. Vesting Schedule. Exhibits A and B to the Agreement shall be terminated, and
Section 2 of the Agreement shall be amended and restated in its entirety to read as follows:

     “Subject to the terms and conditions of this Agreement, the Units shall vest upon the earliest
to occur, and subject to the terms and conditions, of the following (the occurrence of such event
referred to herein as the “Vesting Date”):

     A. Time Based Vesting: Twenty-five percent (25%) of the Units shall
automatically vest each year over the next four (4) years immediately upon the anniversary
of the Amendment Date (i.e. 25% of the Units shall automatically vest on each of March 19,
2009, March 19, 2010, March 19, 2011 and March 19, 2012) (the “Time Based Vesting Date”);

     B. Death; Disability; Termination Without Cause; or Retirement: If the
Participant ceases to be employed by the Company by reason of his or her death, total and
permanent disability (as certified by an independent medical advisor appointed by the
Company prior to such termination), termination without “Cause” (as defined below), or
“Retirement” (as defined below), a prorated number of unvested Units shall vest
automatically upon such death, disability, termination without Cause, or Retirement,
determined by multiplying the number of Units by a fraction, the numerator of which is the
number of complete months of continuous employment by the Participant with the Company from
the Amendment Date until the date of termination and the denominator of which is the number
of complete months between the Amendment Date and the Time Based Vesting Date. The balance
of the Units subject to the provisions of this Agreement

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which have not vested shall automatically be forfeited by the Participant. “Cause”
means (i) Participant’s conviction of a felony or commission of any act of fraud, moral
turpitude or dishonesty, (ii) Participant’s breach of any of the terms or conditions of, or
the failure to perform any covenant contained in, the Company’s Employee Handbook or Code of
Business Conduct and Ethics, as modified from time to time, or (c) Participant’s violation
of reasonable instructions or policies established by the Company with respect to the
operation of its business and affairs or Participant’s failure to carry out the reasonable
instructions required in connection with his or her employment. “Retirement” means the
point in time at which the Participant retires from the Company and either: (1) (a)
Participant’s age is fifty-five (55) years or greater, and (b) Participant has been employed
by the Company for ten (10) years or more; or (2) Participant’s age is sixty-two (62) years
or greater; and

     C. Change in Control: Upon a “Change in Control,” as defined below, one hundred
percent (100%) of the Units shall vest automatically. A “Change in Control” shall mean the
occurrence of one or more of the following events: (i) any person within the meaning of Section
13(d) and 14(d) of the Securities Exchange Act or 1934, as amended (the “Exchange Act”), other than
the Company (including its subsidiaries, directors or executive officers) has become the beneficial
owner, within the meaning of Rule 13d-3 under the Exchange Act, of 50 percent or more of the
combined voting power of the Company’s then outstanding common stock or equivalent in voting power
of any class or classes of the Company’s outstanding securities ordinarily entitled to vote in
elections of directors (“voting securities”); (ii) shares representing 50 percent or more of the
combined voting power of the Company’s voting securities are purchased pursuant to a tender offer
or exchange offer (other than an offer by the Company or its subsidiaries, directors or executive
officers); (iii) as a result of, or in connection with, any tender offer or exchange offer, merger
or other business combination, sale of assets or contested election, or any combination of the
foregoing transactions (a “Transaction”), the persons who were directors of the Company before the
Transaction shall cease to constitute a majority of the Board or of any successor to the Company;
(iv) following the date hereof, the Company is merged or consolidated with another corporation and
as a result of such merger or consolidation less than 50 percent of the outstanding voting
securities of the surviving or resulting corporation shall then be owned in the aggregate by the
former stockholders of the Company, other than (1) any party to such merger or consolidation, or
(2) any affiliates of any such party; or (v) the Company transfers more than 50 percent of its
assets, or the last of a series of transfers results in the transfer of more than 50 percent of the
assets of the Company, or the Company transfers a business unit and/or business division
responsible for more than 35% of the Company’s revenue for the twelve-month period preceding the
month in which such transfer occurred, in either case, to another entity that is not wholly-owned
by the Company. Any determination required above in this subsection (v) shall be made by the
Compensation Committee of the Board of Directors of the Company, as constituted immediately prior
to the occurrence of such event.”

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     IN WITNESS WHEREOF, the Company has executed this Agreement as of the day and year first above
written.

	 	 	 	 	 
	 	 	

MOBILITY ELECTRONICS, INC.

 	 
	 	By:  	 	 
	 	Name:  	Joan W. Brubacher 	 
	 	Title:  	EVP & CFO 	 
	 

     The undersigned Participant hereby accepts, and agrees to, all terms and provisions of the
foregoing Agreement. If you do not sign and return this Agreement, you will not be entitled to the
Units.

			
	 
	 

Signature

	 	 
	 
	 	 
	Michael D. Heil
 

Print Name

	 	 
	 
	 	 
	 

Social Security Number or

	 	 
	Commerce ID Number
	 	 

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