Document:

exv10w35

 

Exhibit 10.35

Form 10-K

AMENDMENT TO THE CITIZENS BANKING CORPORATION STOCK COMPENSATION PLAN

Pursuant to section 7.07(b) of the Citizens Banking Corporation Stock Compensation Plan (“Plan”),
and in accordance with authority granted by the Compensation and Human Resources Committee of the
Board of Directors on February 21, 2007, Citizens Republic Bancorp hereby adopts this Amendment to
the Plan.

	1.	 	Section 1.03(p) of the Plan is amended to read as follows:

(p) “Fair Market Value” means, with respect to a share of Common Stock on the Grant
Date, the closing price of the Common Stock on the Nasdaq Stock Market (“NSM”) as
reported in The Wall Street Journal for the Grant Date. In the event that
there were no Common Stock transactions on such date, the Fair Market Value shall be
determined as of the immediately preceding date on which there were Common Stock
transactions. Unless otherwise specified in the Plan, “Fair Market Value” for purposes
of determining the value of Common Stock on the date of exercise means the closing
price of such Common Stock on the NSM on the last date preceding the exercise on which
there were Common Stock transactions, as reported in The Wall Street Journal.
If the Common Stock is not listed for trading on the NSM on the relevant date, (1) the
closing price on the securities exchange (or, if there is more than one, the principal
such exchange) on which the Common Stock is traded as reported in The Wall Street
Journal for the relevant date; (2) if the shares are not listed for trading on any
securities exchange or the NSM on such date but closing price information is reported
by Nasdaq or another generally accepted reporting service, the closing price of the
shares, as so reported by Nasdaq or, if not reported by Nasdaq, another generally
accepted reporting service, for the relevant date; (3) if none of the foregoing is
applicable, the fair market value of the shares as of the relevant date, as determined
by the Committee.

	2.	 	1.03(q) of the Plan is amended to read as follows:

(q) “Grant Date” means the date on which the Committee authorizes an individual Option,
Restricted Stock Award, Restricted Stock Unit or Performance Award, which date shall be
generally restricted to the third Thursday of May of each year. The preceding
restriction on the Grant Date shall not be applicable to the Grant of Options,
Restricted Stock Awards, Restricted Stock Units and Performance Awards which, in the
discretion of the Committee, are necessary or appropriate for the hiring, continued
retention or promotion of Employees and/or Non-Employee Directors, in which situations the Grant
Date means the date on which the Committee authorizes an individual Option, Restricted
Stock Award, Restricted Stock Unit or Performance Award, or such later date as shall be
designated by the Committee.

     Except as otherwise stated above, this Amendment is effective as of February 21, 2007.

     In Witness Whereof, Citizens Republic Bancorp has caused this amendment to be executed as of
February 21, 2007.

	 	 	 	 	 	 	 
	 

	 	 	 	CITIZENS REPUBLIC BANCORP	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	Witness Thomas W. Gallagher

	 	 	 	William R. Hartman

Chief Executive Officerexv10wnw1

 

Exhibit 10-N-1

AMENDMENTS TO FORD MOTOR COMPANY

DEFERRED COMPENSATION PLAN

(Effective as of December 1, 2006)

Paragraph (a) of Section 9 is amended in its entirety to read as follows:

“(a) General. Except as otherwise provided in paragraph (b) of this Section 9 or in
Section 11, or as otherwise determined by the Committee, distribution of all or any part of
a participant’s Deferred Compensation Account shall be made upon the earliest of the
following:

	 	(i)	 	If the participant selected to receive the distribution in a lump sum
payment in a particular year when the participant is an active employee, such
payment shall be made on the March 15th of the year selected by the
participant, or as soon thereafter as practicable.
	 
	 	(ii)	 	Upon termination of employment with the Company, including retirement,
in either a lump sum payment or in no more than ten annual installment payments, as
selected by the participant, with such lump sum payment being made on, or such
annual installments beginning on, the March 15th following the
participant’s termination of employment, or as soon thereafter as practicable. If
the participant selected annual installments, the annual installment payments
following the first installment shall be made on the applicable number of
consecutive anniversaries of the first March 15th annual installment
payment date, or as soon thereafter as practicable. If a participant selected to
receive a lump sum payment in a particular year, upon termination of employment
prior to such year, the participant shall receive a lump sum payment on the March
15th following the participant’s termination of employment, or as soon
thereafter as practicable.
	 
	 	(iii)	 	Notwithstanding any prior selection by the participant, upon a
participant’s death, the participant’s Deferred Compensation Account shall be
distributed in its entirety on the March 15th following the
participant’s death, or as soon thereafter as practicable.

Unless otherwise determined by the Committee, a Deferred Compensation Account, or part
thereof, relating to a particular distribution shall be valued for purposes of the
distribution as of the following date, or as soon thereafter as practicable: the March
15th of the year of distribution, or the next preceding day for which valuation
information is available. Notwithstanding anything contained in the Plan to the contrary,
no distribution of any or all of a Deferred Compensation Account held by a “specified
employee” (as defined for purposes of Section 409A of the Internal Revenue Code of 1986, as
amended) shall occur earlier than the first day of the seventh month following the specified
employee’s termination of employment, except in the case of death. In addition, the
Compensation Committee shall determine the extent, if any, to which participants may be
allowed to elect to change the method and/or timing of their distributions in accordance
with Section 409A of the Internal Revenue Code of 1986, as amended.”

Paragraph (d) of Section 9 is amended in its entirety to read as follows:

 

 

“(d) Election to Change Method and/or Timing of Distributions. Notwithstanding anything
contained in the Plan to the contrary, elections by active participants to change the method
and/or timing of distributions may be allowed in accordance with Internal Revenue Service
Notice 2005-1, Q&A-19, such that such elections shall not be treated as a change in the form
and timing of a payment under Section 409A(a)(4) of the Internal Revenue Code of 1986, as
amended, or an acceleration of a payment under Section 409A(a)(3) of the Internal Revenue
Code of 1986, as amended; provided, that such elections are made on or before December 31,
2006 and that no such election results in (i) an acceleration of a distribution into the
year of the election, or (ii) the deferral of a distribution otherwise payable in the year
of the election into a subsequent year.”

Paragraph (e) of Section 9 is added to read as follows:

“On and after December 1, 2006, all deferrals under this Plan shall be subject to Section
409A of the Internal Revenue Code of 1986, as amended.”exv10wow1

 

Exhibit 10-O-1

Annual Incentive Compensation Plan Metrics for 2007

On
February 27, 2007, the Compensation Committee of the Board of Directors of the Company approved
the specific performance goals and business criteria to be used for purposes of determining any
future cash awards for 2007 for participants, including executive officers, under the Company’s
shareholder-approved Annual Incentive Compensation Plan (filed as Exhibit 10-T to the Company’s
Annual Report on Form 10-K for the year ended December 31, 1999). For most participants, the
performance criteria and weightings to be used for 2007 under the plan include attaining specified
levels of:

	 	•	 	total company pre-tax profits (40%),
	 
	 	•	 	relevant business unit pre-tax profits (15%),
	 
	 	•	 	total Automotive operating-related cash flow (20%),
	 
	 	•	 	relevant business unit cost reductions (8.33%),
	 
	 	•	 	relevant business unit market shares (8.33%), and
	 
	 	•	 	relevant business unit quality metrics (8.33%).

For some participants, including certain executive officers, whose job responsibilities encompass
multiple business units, the performance criteria to be used for 2007 under the plan include
attaining specified levels of:

	 	•	 	total company pre-tax profits (55%),
	 
	 	•	 	total Automotive operating-related cash flow (20%),
	 
	 	•	 	total company cost reductions (8.33%),
	 
	 	•	 	total company market shares (8.33%), and
	 
	 	•	 	total company quality metrics (8.33%).

Based on business performance results for 2007 against the targeted levels established for each
criterion, the Compensation Committee will determine the percentage of the target award that is
earned, which could range between 0% and 200% depending on actual performance achieved relative to
the target levels. In addition, individual awards may be increased (within limits set by the
Compensation Committee) or decreased from a formula amount, based on leadership level or salary
grade level, to reward a person’s performance.exv10wpw13

 

Exhibit 10-P-13

	 	 	 
	 

	 	World Headquarters, Room 538
	 

	 	One American Road
	 

	 	Dearborn, MI 48126-2798
	 
	 	 
	 

	 	March ___, 2007

Dear      ,

In March 2006, the Compensation Committee of the Board of Directors awarded you the opportunity to
earn restricted stock equivalents (RSEs). The size of this award opportunity was calculated by
converting one-half of the value of the amount of stock options that you otherwise would have
received to an equivalent value of RSEs. The Compensation Committee designated the following as
the 2006 performance metrics for this award:

	 	•	 	Company Performance
	 
	 	•	 	Strategic Direction and Operational Effectiveness
	 
	 	•	 	Leadership
	 
	 	•	 	People and Culture

The Compensation Committee has reviewed the 2006 performance-to-objectives and determined the 2006
award will payout at 62% of the grant. Therefore,
you are being awarded [ ] RSEs.

Your RSE award will be subject to a one-year restriction period, ending March ___, 2008, during
which time dividend equivalents will be paid in cash, if dividends are paid on Ford Common Stock.
As soon as practicable after the restriction lapses, shares of Ford Common Stock will be issued to
you, less any shares withheld to cover any tax liability on the value of the grant.

Your RSE award is made under the 1998 Long-Term Incentive Plan and is subject to its terms and
conditions provided at grant.

If you have any questions regarding your RSE award, please contact [      ] at [      ] or [      ] at [      ].

	 	 	 
	 

	 	Regards,
	 
	 	 
	 

	 	[      ], Director
	 

	 	Compensation & Executive Personnel

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