Document:

Annual Performance Incentive Plan 2007

 Exhibit 10(e)(11) 
 Annual Performance Incentive Plan for 2007 (“2007 APIP”) 
 Under the 2007 APIP, executive
officers of the Company are eligible to receive performance related cash payments. Payments are, in general, only made if annual performance objectives established by the Compensation Committee of the Board of Directors (the “Committee”)
are met. 
 The Committee approved annual incentive opportunities for 2007, expressed as a percentage of base salary for each participating
officer. Certain additional goals were established for some officers based on business unit goals and/or individual performance goals and objectives. The Committee also established overall threshold, target and maximum measures of performance for
the 2007 APIP. The performance measures and weightings for 2007 are total revenue (30%), earnings per share (40%) and core cash flow from operations (30%). 
 Individual payments will be subject to the review and approval of the Committee following the completion of the 2007 fiscal year.Performance Elements for 2007 Executive Long Term Incentive Program

 Exhibit 10(e)(12) 
 2007 Executive Long-Term Incentive Program (“2007 E-LTIP”) 
 Under the 2007 E-LTIP, executive officers of
the Company are eligible to receive performance shares based on certain performance measures established by the Compensation Committee of the Board of Directors (the “Committee”). 
 The performance elements and corresponding weights for the 2007 E-LTIP are: (i) (60%) Earnings Per Share: Diluted Earnings Per Share from Continuing Operations
as reported in the Company’s audited financial statements, as adjusted on an after-tax basis for the following discretely disclosed (in either Management’s Discussion and Analysis/MD&A or the footnotes to the financial statements)
items (if equal to or greater than $50 million pre-tax on an individual basis, or in the aggregate per item): gains/(losses) from litigation, regulatory matters or any changes in enacted law (including tax law); gains/(losses) from asset sales or
business divestitures; restructuring and asset impairment charges; gains/(losses) resulting from acts of war, terrorism or natural disasters; the initial effect of changes in accounting principles that are included within Income from Continuing
Operations; impairment of goodwill and other intangibles; gains/(losses) from the settlement of tax audits; gains/(losses) on early extinguishment of debt; non-restructuring related impairments of long-lived assets; acquisition related expenses
including, but not limited to, acquired in-process research and development and integration costs; and (ii) (40%) Core Cash Flow from Operations: Net Cash provided by (used for) Operating Activities as reported in the Company’s
audited financial statements, as adjusted for the following items: exclusion of net changes in finance receivables and on-lease equipment; cash flow impacts (inflows and outflows) resulting from the EPS adjustments as identified above, with the
exception of cash payments for restructurings; cash payments for restructurings in excess of the amount reported as current restructuring reserves in the preceding years Annual Report; special discretionary pension fundings in excess of $50 million
to prior year shall be excluded. Any other items approved by the Committee for adjustment of EPS or Core Cash Flow from Operations will be considered a modification of the award.Form of Executive Long Term Incentive Program Award Summary under 2007 ELTIP

 

 
 Exhibit 10(e)(13) 
  

	
	 Award Summary

	Executive Long-Term Incentive
	Program Grant (Officers)

 «First_Name» «Last_Name» 
 Date of Agreement and Award: July 1, 2007 
  

  

			
	Value on February 15, 2007:	 	«Approved_Value_»

  

  

			
	Performance Shares	  	
	Number of Performance Shares:	  	«Performance_Shares_»

 Vesting Date of All Performance Shares Earned: 
 - on 07/01/10 
 Performance Shares Earned
if Annual Target Performance is Achieved: 
 - 1/3 of grant on: 7/1/08, 7/1/09 and 7/1/10 
 Performance Shares Earned if Three-Year Cumulative Performance between 
 Threshold and Maximum is Achieved: 
 - 25% - 150% of grant (net of shares earned for Annual Achievement) on
07/01/10 
 Automatic Deferral: If the deduction for delivery of shares would be limited by section 162(m) of the Internal Revenue Code (“Code”),
shares will automatically be deferred until the Committee reasonably believes that the deduction will no longer be limited by section 162(m), unless otherwise required under Code section 409A. Notwithstanding the above, in no event shall shares of
Common Stock be delivered prior to the Vesting Date set forth above. 
  

 *Notwithstanding the above, at the Company’s discretion, Employee may irrevocably elect, on or before June 30, 2007, to defer receipt of Common Stock in
connection with Performance Shares in the manner described to the Employee in writing in the Deferral Form. 
 *Performance measures which may include, but
are not limited to, continuous service with the Company, achievement of specific business objectives, and other measurements of individual, business unit or Company performance shall be determined by the Committee in its sole discretion. 

XEROX CONFIDENTIAL2007 Form of Executive Long Term Incentive Program Award Agreement

			
	Omnibus Agreement—2007: PIP;ELTIP;PSs	 	Exhibit 10(e)(14)

 AGREEMENT PURSUANT TO 
 XEROX CORPORATION 
 2007 AMENDMENT AND RESTATEMENT OF THE 2004 PERFORMANCE
INCENTIVE PLAN 
 AGREEMENT, by Xerox Corporation, a New York corporation (the “Company”), dated as of the date which appears
as the “Date of Agreement and Award” in the Award Summary attached hereto (the “Award Summary”) in favor of the individual whose name appears on the Award Summary, an employee of the Company, one of the Company’s
subsidiaries or one of its affiliates (the “Employee”). 
 In accordance with the provisions of the “2004 Performance
Incentive Plan” and any amendments and/or restatements thereto (the “Plan”), the Compensation Committee of the Board of Directors of the Company (the “Committee”) or the Chief Executive Officer of the Company (the
“CEO”) has authorized the execution and delivery of this Agreement. 
 Terms used herein that are defined in the Plan or in this
Agreement shall have the meanings assigned to them in the Plan or this Agreement, respectively. 
 The Award Summary contains the details of
the awards covered by this Agreement and is incorporated herein in its entirety. 
 NOW, THEREFORE, in consideration of the premises and for
other good and valuable consideration the Company agrees as follows: 
 AWARDS 
 1. Award of Performance Shares. Subject to all terms and conditions of the Plan and this Agreement, the Company has awarded to the Employee on the
date indicated on the Award Summary the number of Performance Shares (individually, the “PS”) as shown on the Award Summary. Notwithstanding anything herein to the contrary, only active Employees and those Employees on Short Term
Disability Leave, Social Service Leave, Family Medical Leave or Paid Uniform Services Leave (pursuant to the Company’s Human Resources Policies) on the effective date of the award as shown on the Award Summary shall be eligible to receive the
award. 
 TERMS OF THE PERFORMANCE SHARES 
 2. Entitlement to Shares. As soon as practicable on or after the Vesting Date indicated on the Award Summary in connection with the PSs (the “Vesting Date”), the Company shall, without transfer or
issue tax to the person entitled to receive the shares, deliver to such person a certificate or certificates for a number of shares of Common Stock equal to the number of vested PSs (subject to reduction for payment of withholding taxes as described
below). The number of shares to be issued to Employee shall be reduced by the amount of withholding taxes which must be paid under U.S. Federal and, where applicable, state and local law at the time of each distribution. No fractional shares shall
be issued. Instead, the Company shall apply the equivalent of any fractional share amount to Federal, and where applicable, state and local, withholding taxes. 
 The award of PSs covered hereby shall be earned based on achieving one hundred percent (100%) of a target on an annual basis based on certain performance measures as shall be determined from time to time by the
Committee. To the extent that performance measures are achieved at or between threshold and maximum levels (as shall be determined by the Committee) on a three-year cumulative basis, an additional award of PSs will be earned, net of shares
previously earned for annual achievement. The Vesting Date for earned PS awards granted shall be set forth in the Award Summary. 
 Upon the
occurrence of an event constituting a Change in Control, all PSs and dividend equivalents outstanding on such date shall be treated pursuant to the terms set forth in the Plan. Upon payment pursuant to the terms of the Plan, such awards shall be
cancelled. 
  

 1 

 3. Dividend Equivalents. The Employee shall be entitled to receive from the Company cash payments
at the same time and in the same amounts that the holder of record of a number of shares of Common Stock equal to the number of PSs covered by this Agreement would be entitled to receive as dividends on such Common Stock. Such right to cash payment
on a PS covered hereby shall apply to all dividends the record date for which occurs at any time during the period commencing on the date hereof and ending on the date that the Employee becomes a shareholder of record with respect to such share as a
result of (i) the entitlement to shares on or after the Vesting Date as provided under Paragraph 2, or (ii) the date this PS otherwise terminates, whichever occurs first. Payments under this Paragraph shall be net of any required U.S.
Federal, state or local withholding taxes. 
 4. Ownership Guidelines. Guidelines pertaining to the Employee’s required ownership
of Common Stock shall be determined by the Committee in its sole discretion at or before the making of the Award as communicated to Employee in writing at the time this Agreement is delivered to Employee. 
 5. Holding Requirements. The Employee must retain fifty percent (50%) of the net shares of Common Stock acquired in connection with the PSs
(net of withholding tax and exercise fees) until ownership guidelines are met under Paragraph 4 hereof. Such shares shall be held in the Employee’s Smith Barney account or at another account acceptable to the Company. 
 If employment terminates due to the death of the Employee, such holding requirements shall cease at the date of death. If the Employee terminates for any
other reason, the holding requirement will be applicable for up to a one year period following termination. 
 OTHER TERMS 

6. Rights of a Shareholder. Employee shall have no rights as a shareholder with respect to any shares covered by this Agreement until the date
of issuance of a stock certificate to him for such shares. Except as otherwise provided herein, no adjustment shall be made for dividends or other rights for which the record date is prior to the date such stock certificate is issued. 
 7. Non-Assignability. This Agreement shall not be assignable or transferable by Employee except by will or by the laws of descent and
distribution. 
 8. Effect of Termination of Employment or Death. 
 (a) Effect on PSs. In the event the Employee 
 (i) voluntarily ceases to be an Employee of the Company or any subsidiary or affiliate for any reason other than retirement, and the PSs have not vested in accordance with Paragraph 2, the PSs shall be cancelled on
the date of such voluntary termination of employment. 
 (ii) involuntarily ceases to be an Employee of the Company or any
subsidiary or affiliate for any reason (including Disability), other than death or for Cause, or voluntarily ceases to be an Employee of the Company or any subsidiary or affiliate due to a reduction in workforce, contingent upon Employee executing a
general release, which may include an agreement with respect to engagement in detrimental activity, in a form acceptable to the Company, shares will vest on a pro-rata basis for annual and three-year cumulative performance if achieved in accordance
with Paragraph 2, based on the Employee’s actual months of service. For the year in which termination occurs, shares earned for that year will be calculated as follows: multiply the total award earned for that year by a fraction, the numerator
of which will be the number of months of full service for that year and the denominator will be 12. Any shares earned for annual performance pursuant to this grant for years prior to such involuntary termination of employment and shares earned on a
pro-rata basis for annual performance as described herein will be paid out as soon as practicable following the Vesting Date noted in the Award Summary. For three-year cumulative performance, vesting will be calculated as follows: multiply the total
three-year cumulative award earned by a fraction, the numerator of which will be the number of 

  

 2 

 
months of full service during the three years and the denominator will be 36, and subtract from the sum the number of shares previously earned for annual
performance pursuant to this grant. Payout shall occur as soon as practicable following the Vesting Date noted in the Award Summary. 
 (iii) ceases to be an Employee of the Company or any subsidiary or affiliate by reason of death, 100% of the PSs pursuant to this grant shall vest on the date of death and the certificates for shares shall be delivered in accordance with
Paragraph 7 to the personal representatives, heirs or legatees of the deceased Employee. 
 (iv) ceases to be an Employee of
the Company or any subsidiary or affiliate by reason of retirement, contingent upon Employee executing a general release, which may include an agreement with respect to engagement in detrimental activity, in a form acceptable to the Company, shares
will vest on a pro-rata basis for annual and three-year cumulative performance, if achieved in accordance with Paragraph 2, based on the Employee’s actual months of service. For the year in which retirement occurs, shares earned for that year
will be calculated as follows: multiply the total award earned for that year by a fraction, the numerator of which will be the number of months of full service for that year and the denominator will be 12. Any shares earned for annual performance
pursuant to this grant for years prior to retirement and shares earned on a pro-rata basis for annual performance as described herein will be paid out as soon as practicable following the Vesting Date noted in the Award Summary. For three-year
cumulative performance, vesting will be calculated as follows: multiply the total three-year cumulative award earned by a fraction, the numerator of which will be the number of months of full service during the three years and the denominator will
be 36, and subtract from the sum the number of shares previously earned for annual performance pursuant to this grant. Payout shall occur as soon as practicable following the Vesting Date noted in the Award Summary; and 
 (v) ceases to be an Employee of the Company or any subsidiary or affiliate due to termination for Cause, the PSs shall be cancelled as
provided under the Plan. 
 (b) Disability. Cessation of active employment due to commencement of long-term disability
under the Company’s long-term disability plan shall not be deemed to constitute a termination of employment for purposes of this Paragraph 8 and during the continuance of such Xerox-sponsored long-term disability plan benefits the Employee
shall be deemed to continue active employment with the Company. If the Employee is terminated because the Employee has received the maximum coverage under the Xerox long-term disability plan, the vesting of PSs shall be provided pursuant to
Paragraph 8 (a)(ii) above. 
 (c) Cause. “Cause” means (i) a violation of any of the rules, policies,
procedures or guidelines of the Company, including but not limited to the Company’s Business Ethics Policy and the Proprietary Information and Conflict of Interest Agreement (ii) any conduct which qualifies for “immediate
discharge” under the Company’s Human Resource Policies as in effect from time to time (iii) rendering services to a firm which engages, or engaging directly or indirectly, in any business that is competitive with the Company or
represents a conflict of interest with the interests of the Company; (iv) conviction of, or entering a guilty plea with respect to, a crime whether or not connected with the Company; or (v) any other conduct determined to be injurious,
detrimental or prejudicial to any interest of the Company. 
 9. General Restrictions. If at any time the Committee or CEO, as
applicable, shall determine, in its or her discretion, that the listing, registration or qualification of any shares subject to this Agreement upon any securities exchange or under any state or Federal law, or the consent or approval of any
government regulatory body, is necessary or desirable as a condition of, or in connection with, the awarding of the PSs or the issue or purchase of shares hereunder, the certificates for shares may not be issued in respect of PSs in whole or in part
unless such listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Committee or CEO, as applicable, and any delay caused thereby shall in no way affect the date of
termination of the PSs. 
 10. Amendment of This Agreement. With the consent of the Employee, the Committee or CEO, as applicable, may
amend this Agreement in a manner not inconsistent with the Plan. 
  

 3 

 11. Subsidiary. As used herein the term “subsidiary” shall mean any present or future
corporation which would be a “subsidiary corporation” of the Company as the term is defined in Section 425 of the Internal Revenue Code of 1986 on the date of award. 
 12. Affiliate. As used herein the term “affiliate” shall mean any entity in which the Company has a significant equity interest, as
determined by the Committee. 
 13. Non-engagement in Detrimental Activity Against the Company. If an Employee or former
Employee of the Company is deemed by the Committee or its authorized delegate, as applicable, in the Committee’s or such delegate’s sole reasonable discretion as provided under the Plan, to have engaged in detrimental activity against the
Company, any awards granted to such Employee or former Employee on or after January 1, 2006 shall be canceled and be of no further force or effect and any payment or delivery of an award within six months prior to such detrimental activity may
be rescinded. In the event of any such rescission, the Employee shall pay to the Company the amount of any gain realized or payment received as a result of the rescinded exercise, payment or delivery, in such manner and on such terms and conditions
as may be required by the Committee or its delegate, as applicable. 
 14. Notices. Notices hereunder shall be in writing and if to
the Company shall be mailed to the Company at P.O. Box 1600, 22B, Stamford, Connecticut 06904, addressed to the attention of Stock Plan Administrator, and if to the Employee shall be delivered personally or mailed to the Employee at his address as
the same appears on the records of the Company. 
 15. Interpretation of This Agreement. The Committee or the CEO, as applicable,
shall have the authority to interpret the Plan and this Agreement and to take whatever administrative actions, including correction of administrative errors in the awards subject to this Agreement and in this Agreement, as the Committee or the CEO
in its or her sole good faith judgment shall be determined to be advisable. All decisions, interpretations and administrative actions made by the Committee or the CEO hereunder or under the Plan shall be binding and conclusive on the Company and the
Employee. In the event there is inconsistency between the provisions of this Agreement and of the Plan, the provisions of the Plan shall govern. 
 16. Successors and Assigns. This Agreement shall be binding and inure to the benefit of the parties hereto and the successors and assigns of the Company and to the extent provided in Paragraph 8 to the personal representatives,
legatees and heirs of the Employee. 
 17. Governing Law. The validity, construction and effect of the Agreement and any actions taken
under or relating to this Agreement shall be determined in accordance with the laws of the state of New York and applicable Federal law. 
 18. Separability. In case any provision in the Agreement, or in any other instrument referred to herein, shall become invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions in the
Agreement, or in any other instrument referred to herein, shall not in any way be affected or impaired thereby. 
 19. Integration of
Terms. Except as otherwise provided in this Agreement, this Agreement contains the entire agreement between the parties relating to the subject matter hereof and supersedes any and all oral statements and prior writings with respect thereto.

 IN WITNESS WHEREOF, the Company has executed this Agreement as of the day and year set forth on the Award Summary. 
  

			
	XEROX CORPORATION
		
	By:	 	  

		 	Signature

  

 4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}]]