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      Exhibit 10.2    
    

 
    EDISON INTERNATIONAL
  2011 Long-Term Incentives
  Terms and Conditions    
    

1.     LONG-TERM INCENTIVES  

The
long-term incentive awards granted in 2011 ("LTI") for eligible persons (each, a
"Holder") employed by Edison International ("EIX") or its participating affiliates (the
"Companies", or individually, the "Company") include the following: 

	•
	Nonqualified stock options to purchase shares of EIX Common Stock ("EIX
Options") as described in Section 3;   

	•
	Contingent EIX performance units ("Performance Shares") as described in
Section 4; and   

	•
	Restricted EIX stock units ("Restricted Stock Units") as described in
Section 5. 

Each
of the LTI awards will be granted under the 2007 Performance Incentive Plan (the "Plan") and will be subject to adjustment as provided in
Section 7.1 of the Plan. 

The
LTI shall be subject to these 2011 Long-Term Incentives Terms and Conditions (these "Terms"). The LTI shall be administered by the
Compensation and Executive Personnel Committee of the EIX Board of Directors (the "Committee"). The Committee shall have the administrative powers with
respect to the LTI set forth in Section 3.2 of the Plan. 

In
the event EIX grants LTI to a Holder, the number of EIX Options, Performance Shares and Restricted Stock Units granted to the Holder will be set forth in a written award certificate delivered by
EIX to the Holder. 

2.     VESTING OF LTI  

Subject
to Sections 8 and 9 the following vesting rules shall apply to the LTI: 

	2.1
	EIX Options.    The EIX Options will vest over a four-year
period as described in this Section 2 (the "Vesting Period"). The effective "initial vesting
date" will be January 2, 2012, or six months after the date of the grant, whichever date is later. The EIX Options will vest as follows:  

	•
	On the initial vesting date, one-fourth of the award will vest.   

	•
	On January 2, 2013, an additional one-fourth of the award will vest.   

	•
	On January 2, 2014, an additional one-fourth of the award will vest.   

	•
	On January 2, 2015, the balance of the award will vest.

 

	2.2
	Performance Shares.    The Performance Shares will vest and become payable
to the extent earned as determined at the end of the three-calendar-year period commencing on January 1, 2011, and ending December 31, 2013 (the
"Performance Period"), subject to the provisions of Section 4.

	2.3
	Restricted Stock Units.    The Restricted Stock Units will vest and become
payable on January 2, 2014.

	2.4
	Continuance of Employment/Service Required.    The vesting schedule
requires continued employment or service through each applicable vesting date as a condition for the vesting of the applicable installment of the LTI and the rights and benefits thereunder. Employment
or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Holder to any proportionate vesting or avoid or mitigate a termination of rights and benefits
upon or following a termination of employment or services except as provided in Sections 8 and 9 below. 

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3.     EIX OPTIONS  

	3.1
	Exercise Price.    The exercise price of an EIX Option stated in the award
certificate is the closing price (in regular trading) of a share of EIX Common Stock on the New York Stock Exchange for the effective date of the grant.

	3.2
	Cumulative Exercisability; Term of Option.    The vested portions of the
EIX Options will accumulate to the extent not exercised, and be exercisable by the Holder subject to the provisions of this Section 3 and Sections 8 and 9, in whole or in part, in any
subsequent period but not later than January 2, 2021.

	3.3
	Method of Exercise.    The Holder may exercise an EIX Option by providing
written notice to EIX on the form prescribed by the Committee for this purpose, or completion of such other EIX Option exercise procedures as EIX may prescribe, accompanied by full payment of the
applicable exercise price. Payment must be in cash or its equivalent acceptable to EIX. At the discretion of the Holder, EIX Common Stock valued on the exercise date at a per-share price
equal to the closing price of EIX Common Stock on the New York Stock Exchange may be used to pay the exercise price, provided the Company can comply with any legal requirements. A broker-assisted
"cashless" exercise may be accommodated for EIX Options at the discretion of EIX. Until payment is accepted, the Holder will have no rights in the optioned stock. The provisions of Section 10
must be satisfied as a condition precedent to the effectiveness of any purported exercise. 

4.     PERFORMANCE SHARES  

	4.1
	Performance Shares.    Performance Shares are EIX Common Stock-based units
subject to a performance measure based on the percentile ranking of EIX total shareholder return ("TSR") among the TSRs for the stocks comprising the
Comparison Group (as defined below) over the entire Performance Period. TSR is calculated using (i) the average closing stock price for the relevant stock for the
20-trading-day period ending with the last day on which the New York Stock Exchange is open for trading preceding the first day of the Performance Period, and (ii) the
average closing stock price for the relevant stock for the 20-trading-day period ending with the measurement date. A target number of contingent Performance Shares will be
awarded on the initial grant date. The target number of contingent Performance Shares will be increased by any additional Performance Shares created by "reinvestment" of dividend equivalents as
provided in Section 4.4. The actual amount of Performance Shares to be paid will depend on EIX's TSR percentile ranking on the measurement date. If EIX's TSR is below the
40th percentile, no Performance Shares will be paid. Twenty-five percent (25%) of the target number of Performance Shares will be paid if EIX's TSR percentile ranking
is at the 40th percentile. The target number of Performance Shares will be paid if EIX's TSR rank is at the 50th percentile. Two times the target number of
Performance Shares will be paid if EIX's TSR percentile ranking is at the 75th percentile or higher. The payment multiple is interpolated for performance between the points indicated in the
preceding three sentences on a straight-line basis. 

The
"Comparison Group" consists of the stocks comprising the Philadelphia Utility Index as the index is constituted on the measurement date, but
deleting AES Corporation and adding Sempra Energy (in each case, if such stock is publicly traded on the measurement date), and adjusted as described below if there are less than 20 companies in such
index as so adjusted on the measurement date. If the Comparison Group consists of less than 20 stocks on the measurement date, the stock with the median TSR for the entire Performance Period (or, if
there are an even number of stocks in the Comparison Group before giving effect to this sentence, a stock deemed to have a TSR equal to the average TSR of the two stocks in the Comparison Group that
fall in the middle of such group when ranked based on TSR for the entire Performance Period) shall be added back to the Comparison Group a sufficient number of times to bring the stocks comprising the
Comparison Group to 20. (For purposes of clarity, if there are only 17 stocks in the Comparison Group before giving effect to the preceding sentence, the stock with the median TSR for the entire
Performance Period will be added back to the Comparison Group a total of three times to bring the stocks comprising the Comparison Group to 20.) 

2

 

	4.2
	Measurement Date.    The performance measurement date will be the last day
of the Performance Period on which the New York Stock Exchange is open for trading. As of that date, the applicable payment multiple will be determined as provided in Section 4.1 above based on
the EIX TSR percentile ranking achieved during the Performance Period. No payment will be made with respect to the Performance Shares unless and until the Committee has certified, by resolution or
other appropriate action in writing, that the applicable EIX TSR percentile ranking has been accurately determined. The Committee shall not have discretion to pay Performance Shares if the minimum EIX
TSR ranking is not achieved or to pay Performance Shares in excess of the amount provided in Section 4.1 for the applicable EIX TSR ranking.

	4.3
	Payment of Performance Shares.    Fifty percent of the Performance Shares
that are earned pursuant to Section 4.1 (plus any fractional shares) will be paid in cash. The remainder of the Performance Shares earned will be paid on a one-for-one
basis in EIX Common Stock under the Plan. The value of each Performance Share paid in cash will be equal to the closing price per share of EIX Common Stock on the New York Stock Exchange for the
measurement date. The cash and stock payable for the earned Performance Shares will be delivered as soon as practicable for EIX following the Committee's certification in Section 4.2 above, and
in all events no later than March 15, 2014. The Performance Shares are subject to termination and other conditions specified in Sections 8 and 9, and to the provisions of
Section 10.

	4.4
	Dividend Equivalent Reinvestment.    For each dividend on EIX Common Stock
for which the ex-dividend date falls within the Performance Period, the Holder of Performance Shares will be credited with an additional number of target Performance Shares. The additional
number of shares added on each ex-dividend date will be equal to (i) the per-share cash dividend paid by EIX on its Common Stock with respect to the related
ex-dividend date, multiplied by (ii) the Holder's number of target Performance Shares (including any additional target Performance Shares previously credited under this
Section 4.4), divided by (iii) the closing price of a share of EIX Common Stock on the related ex-dividend date, with the result rounded to four decimal places. Any target
Performance Shares added pursuant to the foregoing provisions of this Section 4.4 will be subject to the same vesting, payment, termination and other terms, conditions and restrictions as the
original target Performance Shares to which they relate (including application of the TSR payment multiple as contemplated by Section 4.1). No target Performance Shares will be added pursuant
to this Section 4.4 with respect to any target Performance Shares which, as of the related ex-dividend date, have either become payable pursuant to Section 4.3 or terminated
pursuant to Section 8. 

5.     RESTRICTED STOCK UNITS  

	5.1
	Restricted Stock Units.    Restricted Stock Units are EIX Common
Stock-based units that vest based on the passage of time. As soon as practicable for EIX following January 2, 2014 (and in all events within 90 days after such date), EIX will deliver to
the Holder a number of shares of EIX Common Stock equal to the number of Restricted Stock Units that have vested, except that if the Restricted Stock Units vest pursuant to Section 8.3, 8.4,
8.5 or 9, the Restricted Stock Units will become payable as provided in the applicable section below. The Restricted Stock Units are subject to termination and other conditions specified in
Sections 8 and 9, and to the provisions of Section 10. 

3

 

	5.2
	Dividend Equivalent Reinvestment.    For each dividend declared on EIX
Common Stock with an ex-dividend date on or after the date an award of Restricted Stock Units is granted and before all of such Restricted Stock Units either have become payable pursuant
to Section 5.1 or have terminated pursuant to Section 8 or 9, the Holder of such award will be credited with an additional number of Restricted Stock Units equal to (i) the
per-share cash dividend paid by EIX on its Common Stock with respect to the related ex-dividend date, multiplied by (ii) the total number of outstanding and unpaid
Restricted Stock Units (including any Restricted Stock Units previously credited under this Section 5.2) subject to such award as of such ex-dividend date, divided by
(iii) the closing price of a share of EIX Common Stock on the related ex-dividend date, with the result rounded to four decimal places. Any additional Restricted Stock Units
credited pursuant to the foregoing provisions of this Section 5.2 will be subject to the same vesting, payment, termination and other terms, conditions and restrictions as the original
Restricted Stock Units to which they relate; provided, however, that the Committee shall retain discretion to pay any Restricted Stock Units in cash rather than shares of EIX Common Stock if and to
the extent that payment in shares would exceed the applicable share limits of the Plan, with any fractional shares to be paid in cash. No crediting of Restricted Stock Units will be made pursuant to
this Section 5.2 with respect to any Restricted Stock Units which, as of the related ex-dividend date, have either been paid pursuant to Section 5.1 or terminated pursuant to
Section 8 or 9. 

6.     DELAYED PAYMENT OR DELIVERY OF LTI GAINS  

Notwithstanding
any other provision herein, Holders who are eligible to defer salary under the EIX 2008 Executive Deferred Compensation Plan (the
"EDCP") may irrevocably elect to defer receipt of all or a part of the cash payable in respect of the portion of earned Performance Shares that are
payable in cash pursuant to the terms of the EDCP. To make such an election, the Holder must submit a signed agreement in the form approved by, and in advance of the applicable deadline established
by, the Committee. In the event of any timely deferral election, the LTI with respect to which the deferral election was made shall be paid in accordance with the terms of the EDCP. 

7.     TRANSFER AND BENEFICIARY  

	7.1
	Limitations on Transfers.    Except as provided below and in
Section 10, the LTI will not be transferable by the Holder and, during the lifetime of the Holder, the LTI will be exercisable only by him or her. The Holder may designate a beneficiary who,
upon the death of the Holder, will be entitled to exercise the then vested portion of the LTI during the remaining term subject to the provisions of the Plan and these Terms.

	7.2
	Exceptions.    Notwithstanding the foregoing, the LTI of the CEOs of EIX,
Edison Mission Group Inc., and Southern California Edison Company, and the EVPs of EIX, are transferable to a spouse, children or grandchildren, or trusts or other vehicles established
exclusively for their benefit. Any transfer request must specifically be authorized by EIX in writing and shall be subject to any conditions, restrictions or requirements as the Committee may
determine. Restricted Stock Units may not, however, be transferred to the extent the transfer would violate (and result in any tax, penalty or interest under) Section 409A of the Internal
Revenue Code of 1986, as amended (the "Code"). 

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8.     TERMINATION OF EMPLOYMENT  

	8.1
	General.    In the event of termination of the employment of the Holder
for any reason other than those specified in Sections 8.2, 8.3, 8.4 or 9, the LTI will terminate as follows: (i) the Holder's unvested EIX Options will terminate for no value on the date
such employment terminates, (ii) the Holder's vested EIX Options will terminate for no value 180 days from the date on which such employment terminated (or, if earlier, on the last day
of the applicable EIX Option term) to the extent not theretofore exercised, (iii) the Holder's unearned Performance Shares will terminate for no value, and (iv) the Holder's unvested
Restricted Stock Units will terminate for no value. Any fractional vested EIX Options will be rounded up to the next whole share.

	8.2
	Retirement.    If the Holder terminates employment on or after the first
day of the month in which he or she (i) attains age 65 or (ii) attains age 61 with five "years of service," as that term is defined in the Edison 401(k) Savings Plan (a
"Retirement"), then the vesting and exercise or payment provisions of this Section 8.2 will apply.

	(A)
	EIX
Options. The EIX Options will vest; provided, however, that in the event the Holder's Retirement occurs within the calendar
year in which the applicable EIX Option is granted, the portion of the option that vests upon the Holder's Retirement will be prorated by multiplying the total number of shares subject to the option
by a fraction, the numerator of which shall be the number of whole months in the calendar year of grant that the Holder was employed by one or more of the Companies, and the denominator of which shall
be twelve (12). In no event shall the Holder be credited with services performed during any portion of a calendar month (even if a substantial portion) if the Holder is not employed by one of the
Companies as of the last day of such calendar month. The portion of the option not eligible to vest following the Holder's Retirement after giving effect to the proration described in the preceding
two sentences shall terminate upon the Holder's Retirement, and the Holder shall have no further rights with respect to such terminated portion. Any fractional EIX Options vested under this
Section 8.2 will be rounded up to the next whole number. Although vested upon Retirement, the options will become exercisable on the schedule under which they would have been vested had the
Holder not retired (one-fourth of the option grant on the effective initial vesting date (January 2, 2012 or six months after the date of grant, whichever is later) and an
additional one-fourth on January 2, 2013, 2014 and 2015), except that if the Holder dies, the then-outstanding portion of the option will be immediately exercisable as
of the date of the Holder's death. In the event prorated vesting is required in connection with the Holder's Retirement, the portion of the option that does vest will become exercisable first on the
effective initial vesting date (up to the maximum number of shares that would have become exercisable on that date had no termination of employment occurred) and so on until the vested portion of the
option becomes exercisable, except that if the Holder dies, the then-outstanding portion of the option will be immediately exercisable as of the date of the Holder's death. Once
exercisable, EIX Options will remain exercisable as provided in Section 3 for the remainder of the original EIX Option term.

	(B)
	Performance
Shares. The Performance Shares will vest and become payable at the end of the Performance Period to the extent they
would have vested and become payable if the Holder's employment had continued through the last day of the Performance Period; provided, however, that if the Holder's Retirement occurs within the
calendar year in which the applicable Performance Shares are granted, the portion of the Performance Shares that will vest and become payable will equal (i) the portion that would have vested
and become payable if the Holder's employment had continued through the last day of the Performance Period, multiplied by (ii) a fraction, the numerator of which shall be the number of whole
months in the calendar year of grant that the Holder was employed by one or more of the Companies, and the denominator of which shall be twelve (12), with the result rounded to four decimal places.
For this purpose, the number of "whole months" shall be calculated as provided in Section 8.2(A) above. Performance Shares will be payable to the Holder on the payment date specified in
Section 4.3 to the extent of the EIX TSR ranking achieved as specified in Section 4.1. Any fractional Performance Shares vested under this Section 8.2(B) will be paid in cash. Any
unvested Performance Shares (after application of the foregoing vesting provisions) will terminate for no value. 

5

 

	(C)
	Restricted
Stock Units. The Restricted Stock Units will vest upon the Holder's Retirement and will be payable on or as soon as
practicable for EIX following January 2, 2014 (and in all events within 90 days after such date); provided, however, that in the event the Holder's termination of employment occurs
within the calendar year in which the applicable Restricted Stock Unit award is granted, the number of Restricted Stock Units that vests upon the Holder's Retirement will be prorated by multiplying
the total number of Restricted Stock Units subject to the award by a fraction, the numerator of which shall be the number of whole months in the calendar year of grant that the Holder was employed by
one or more of the Companies, and the denominator of which shall be twelve (12), with the result rounded to four decimal places. In no event shall the Holder be credited with services performed during
any portion of a calendar month (even if a substantial portion) if the Holder is not employed by one of the Companies as of the last day of such calendar month. Any fractional Restricted Stock Units
vested under this Section 8.2(C) will be paid in cash. Any unvested Restricted Stock Units (after application of the foregoing vesting provisions) will terminate for no value. Notwithstanding
the foregoing provisions, if the Holder dies after Retirement and prior to the date the vested Restricted Stock Units are paid, the vested Restricted Stock Units will be paid as soon as practicable
for EIX (and in all events within 90 days) following the date of the Holder's death.

	8.3
	Death or Disability.    If, prior to the Holder's termination of employment with a Company, the
Holder dies or incurs a "disability" (as such term is defined for purposes of Section 409A of the Code), the provisions of this Section 8.3 will apply.

	(A)
	EIX
Options. Any unvested EIX Options will immediately vest. The EIX Options will be exercisable immediately as of the date of
such termination and will remain exercisable as provided in Section 3 for the remainder of the original EIX Option term.

	(B)
	Performance
Shares. The Performance Shares will vest and become payable at the end of the Performance Period as provided in
Section 4.3 to the extent they would have vested and become payable if the Holder's employment had continued through the last day of the Performance Period.

	(C)
	Restricted
Stock Units. Any unvested Restricted Stock Units will immediately vest and become payable as soon as practicable for
EIX (and in all events within 90 days) after the date of the Holder's death or disability, as applicable.

 

	8.4
	Involuntary Termination Not for Cause.    Except as may otherwise be
provided in Section 9, upon involuntary termination of the Holder's employment by his or her employer not for cause (and other than due to the Holder's death or disability), the provisions of
this Section 8.4 shall apply. 

6

 

	(A)
	EIX
Options. Unvested EIX Options will vest to the extent necessary to cause the aggregate number of shares subject to vested
EIX Options (including any shares acquired pursuant to previously exercised EIX Options) to equal the number of shares granted multiplied by a fraction (not greater than 1), the numerator of which is
the number of weekdays in the period from January 1 of the year of grant of the award through the one-year anniversary of the Holder's last day of employment prior to termination of
the Holder's employment, and the denominator of which is the number of weekdays in the four calendar years 2011-2014. The Holder will have one year following the date of termination in
which to exercise the EIX Options, or until the end of the EIX Option term, whichever occurs earlier. The Holder's vested options will terminate for no value at the end of such period to the extent
not theretofore exercised. The portion of the option not eligible to vest following the termination of the Holder's employment after giving effect to the proration described in this
Section 8.4(A) shall terminate upon the termination of the Holder's employment, and the Holder shall have no further rights with respect to such terminated portion. Any fractional EIX Options
vested under this Section 8.4(A) will be rounded up to the next whole number. 

Notwithstanding
anything to the contrary in the preceding paragraph, if the Holder qualifies for Retirement (as defined in Section 8.2) at the time of the termination of the Holder's
employment, or if the Holder would have satisfied the requirements for Retirement if an extra year of service and age were applied, EIX Options will (i) vest (without any proration),
(ii) become exercisable on the schedule specified in Section 8.2 and (iii) remain exercisable for the remainder of the original EIX Option term.  

	(B)
	Performance
Shares. The Performance Shares will vest with respect to (i) the number of Performance Shares that would
have vested and become payable if the Holder's employment had continued through the last day of the Performance Period, multiplied by (ii) a fraction (not greater than 1), the numerator of
which is the number of weekdays the Holder was employed by EIX or a subsidiary from January 1 of the year of grant of the award through the one-year anniversary of the Holder's last
day of employment prior to termination of the Holder's employment, and the denominator of which is the number of weekdays in the three calendar years 2011-2013. Such vested Performance
Shares will be payable to the Holder as provided in Section 4.3 to the extent of the EIX TSR ranking achieved as provided in Section 4.1. Any fractional Performance Shares vested under
this Section 8.4(B) will be rounded up to the next whole number. Any unvested Performance Shares (after application of the foregoing vesting provisions) will terminate for no value as of the
date of the Holder's termination of employment. 

Notwithstanding
anything to the contrary in the preceding paragraph, if the Holder qualifies for Retirement (as defined in Section 8.2) at the time of the termination of the Holder's
employment, or if the Holder would have satisfied the requirements for Retirement if an extra year of service and age were applied, the Performance Shares will vest (without proration) and become
payable at the end of
the Performance Period as provided in Section 4.3 to the extent they would have vested and become payable if the Holder's employment had continued through the last day of the Performance
Period.  

	(C)
	Restricted
Stock Units. The Restricted Stock Units will vest to the extent necessary to cause the aggregate number of vested
Restricted Stock Units to equal the number of Restricted Stock Units subject to the award multiplied by a fraction (not greater than 1), the numerator of which is the number of weekdays in the period
from January 1 of the year of grant of the award through the one-year anniversary of the Holder's last day of employment prior to termination of the Holder's employment, and the
denominator of which is the number of weekdays in the three calendar years 2011-2013. Any fractional Restricted Stock Units vested under this Section 8.4(C) will be rounded up to
the next whole number. Any unvested Restricted Stock Units (after 

7

 

application
of the foregoing vesting provisions) will terminate for no value as of the date of the Holder's termination of employment. Vested Restricted Stock Units will be paid as soon as practicable
for EIX (and in all events within 90 days) following the date of the Holder's Separation from Service, if the Separation from Service occurs prior to any other applicable payment event
otherwise provided for in these Terms. For purposes of the LTI, a "Separation from Service" means the Holder's "separation from service" with the
Company as that term is used for purposes of Section 409A of the Code. 

Notwithstanding
anything to the contrary in the preceding paragraph, if the Holder qualifies for Retirement (as defined in Section 8.2) at the time of the termination of the Holder's
employment, the Restricted Stock Units will vest (without any proration) and become payable at the same time provided for in Section 8.2(C). In addition, and notwithstanding anything to the
contrary in the preceding paragraph, if the Holder would have satisfied the requirements for Retirement at the time of the termination of the Holder's employment if an extra year of service and age
were applied, the Restricted Stock Units will vest (without any proration) and become payable as soon as practicable for EIX (and in all events within 90 days) following the date of the
Holder's Separation from Service, if the Separation from Service occurs prior to any other applicable payment event otherwise provided for in these Terms.  

	(D)
	Conditions
of Benefits. Notwithstanding the foregoing provisions, if at the time of the Holder's involuntary termination the
Holder is covered by a severance plan of EIX or any of its affiliates, the Holder shall be entitled to the accelerated vesting provided in this Section 8.4 only if the Holder satisfies the
applicable conditions for receiving severance benefits under that plan (including, without limitation, any requirement to execute and deliver a release of claims) in connection with such involuntary
termination. In the event that such conditions are not satisfied, the provisions of Section 8.1 above shall apply, and the Holder shall not be entitled to any accelerated vesting under this
Section 8.4.

 

	8.5
	Effect of Change of Employer.    For purposes of the LTI only, involuntary
termination of employment will be deemed to occur on the date the Holder's employing company is no longer a member of the EIX controlled group of corporations as defined in Section 1563(a) of
the Code, regardless of whether the Holder's employment continues with that entity or a successor entity outside of the EIX controlled group. A termination of employment will not be deemed to occur
for purposes of the LTI if a Holder's employment by one EIX Company terminates but immediately thereafter the Holder is employed by another EIX Company. 

9.     CHANGE IN CONTROL; EARLY TERMINATION OF LTI  

Notwithstanding
any other provision herein, in the event of a Change in Control of EIX (as defined in Section 9.6), the provisions of this Section 9 will apply. 

	9.1
	EIX Options.    In the event the EIX Options are to terminate pursuant to
Section 7.2 of the Plan in connection with a Change in Control of EIX, then upon (or, as may be necessary to effect the acceleration, immediately prior to) the Change in Control of EIX the
then-outstanding and unvested EIX Options will become fully vested; provided, however, that this automatic acceleration provision will not apply with respect to any EIX Options to the
extent the Committee has made a provision for the substitution, assumption, exchange or other continuation of the EIX Options. In the event of such a termination where the Committee has not provided
for a cash settlement of the EIX Options as described below, the Holder of each EIX Option that is to be so terminated will be given reasonable advance notice of the impending termination and a
reasonable opportunity to exercise such EIX Option in accordance with its terms before such termination (except that in no event will more than 10 days' notice of the accelerated vesting and
impending termination be required). The Committee may provide, as to each EIX Option that is to be terminated in connection with a Change in Control of EIX, to settle the EIX Option by a cash payment
to the Holder of such option based upon the distribution or consideration payable to the holders of the EIX Common Stock upon or in respect of such event, such cash payment to be made as soon as
practicable for EIX after the Change in Control of EIX. 

8

 

	9.2
	Performance Shares.    In the event the Performance Shares are to
terminate pursuant to Section 7.2 of the Plan in connection with a Change in Control of EIX, then the Performance Period for all outstanding Performance Shares will be shortened so that the
Performance Period will be deemed to have ended on the last day prior to such Change in Control of EIX, and the Performance Shares that will vest and become payable will be determined in accordance
with Section 4.1 based on such shortened Performance Period; provided, however, that this automatic acceleration provision will not apply with respect to any Performance Shares to the extent
the Committee has made a provision for the substitution, assumption, exchange or other continuation of the Performance Shares. Any Performance Shares that become subject to a shortened Performance
Period pursuant to this Section 9.2 shall be paid, to the extent such Performance Shares become vested and payable after giving effect to the first sentence of this Section 9.2, to the
Holder in cash as soon as practicable for EIX (and in all events within 74 days) after the date of the Change in Control of EIX, and any such Performance Shares that do not become vested and
payable shall terminate for no value as of the date of the Change in Control of EIX.

	9.3
	Restricted Stock Units.    This Section 9.3 applies to the
Restricted Stock Units notwithstanding anything to the contrary in Section 7.2 of the Plan. The Committee may not exercise any discretion to change the payment date(s) of the Restricted Stock
Units except as otherwise expressly provided in this Section 9.3 or as otherwise compliant with (so as to not result in any tax, penalty or interest under) Section 409A of the Code. The
Restricted Stock Units may only be terminated in connection with a Change in Control of EIX to the extent the termination satisfies the requirements of Treasury Regulation
Section 1.409A-3(j)(4)(ix) (Plan Terminations and Liquidations). In the event the Restricted Stock Units are to terminate in connection with such an event, then upon (or, as may be
necessary to effect the acceleration, immediately prior to) the Change in Control of EIX, the then-outstanding and unvested Restricted Stock Units will become fully vested. In the event
the Restricted Stock Units are not to be so terminated in connection with such an event, the Committee shall make provision for the substitution, assumption, exchange or other continuation of the
Restricted Stock Units in a manner that is compliant with (and does not result in any tax, penalty or interest under) Section 409A of the Code and the Restricted Stock Units shall be paid at
the first applicable time otherwise provided in these Terms.

	9.4
	Severance Plan Benefits.    If a Holder is a participant in the EIX 2008
Executive Severance Plan (or any similar successor plan) and experiences a Qualifying Termination Event as defined in the EIX 2008 Executive Severance Plan (or a similar employment termination under a
successor plan) associated with a Change in Control as defined in the EIX 2008 Executive Severance Plan (or any similar successor plan), then (i) the Holder's outstanding EIX Options will
immediately vest, (ii) the Holder will have two years following the date of termination in which to exercise such EIX options if the Holder is a Senior Vice President, President or other
officer designated by the Chief Executive Officer of EIX to be in Executive Compensation Band D or above (three years if the Holder is the Chief Executive Officer of EIX, Southern California Edison
Company, or Edison Mission Group Inc., or the General Counsel or Chief Financial Officer of EIX), in each case subject to earlier termination at the end of the applicable option term or as
provided in Section 9.1 above, (iii) any then outstanding Performance Shares shall be treated as provided for in Section 8.3(B) above, if the applicable performance period has not
been shortened pursuant to Section 9.2 above, and (iv) any then outstanding Restricted Stock Units shall vest in accordance with Section 8.3(C) above, if vesting had not otherwise
been triggered by Section 9.3 above, and shall be paid at the time determined in accordance with Section 8.4(C). 

9

 

	9.5
	Other Acceleration Rules.    Any acceleration of LTI pursuant to this
Section 9 will comply with applicable legal requirements and, if necessary to accomplish the purposes of the acceleration or if the circumstances require, may be deemed by the Committee to
occur within a limited period of time not greater than 30 days prior to the Change in Control of EIX. Without limiting the generality of the foregoing, the Committee may deem an acceleration to
occur immediately prior to the applicable event and/or reinstate the original terms of a LTI if the event giving rise to acceleration does not occur.

	9.6
	Definition of Change in Control of EIX.    A
"Change in Control of EIX" shall be deemed to have occurred as of the first day, after the date of grant, that any one or more of the following
conditions shall have been satisfied:

	(A)
	Any
Person (other than a trustee or other fiduciary holding securities under an employee benefit plan of EIX) becomes the Beneficial Owner, directly or
indirectly, of securities of EIX representing thirty percent (30%) or more of the combined voting power of EIX's then outstanding securities. For purposes of this clause,
"Person" shall mean any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act, except that such
term shall not include one or more underwriters acquiring newly-issued voting securities (or securities convertible into voting securities) directly from EIX with a view towards distribution; and the
term "Beneficial Owner" shall mean as defined under Rule 13d-3 promulgated under the Exchange Act.

	(B)
	On
any day after the date of grant (the "Reference Date") Continuing Directors cease for any reason to
constitute a majority of the Board. A director is a "Continuing Director" if he or she either:

	(i)
	was
a member of the Board on the applicable Initial Date (an "Initial Director"); or

	(ii)
	was
elected to the Board, or was nominated for election by EIX's shareholders, by a vote of at least two-thirds (2/3) of the Initial Directors
then in office. 

A
member of the Board who was not a director on the applicable Initial Date shall be deemed to be an Initial Director for purposes of clause (b) above if his or her election, or nomination for
election by EIX's shareholders, was approved by a vote of at least two-thirds (2/3) of the Initial Directors (including directors elected after the applicable Initial Date who are deemed
to be Initial Directors by application of this provision) then in office. For these purposes, "Initial Date" means the later of (A) the date of
grant or (B) the date that is two (2) years before the Reference Date.  

	(C)
	EIX
is liquidated; all or substantially all of EIX's assets are sold in one or a series of related transactions; or EIX is merged, consolidated, or
reorganized with or involving any other corporation, other than a merger, consolidation, or reorganization that results in the voting securities of EIX outstanding immediately prior thereto continuing
to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%) of the combined voting power of the voting securities
of EIX (or such surviving entity) outstanding immediately after such merger, consolidation, or reorganization. Notwithstanding the foregoing, a bankruptcy of EIX or a sale or spin-off of
an affiliate of EIX (short of a dissolution of EIX or a liquidation of substantially all of EIX's assets, determined on an aggregate basis) will not constitute a Change in Control of EIX.

	(D)
	The
consummation of such other transaction that the Board may, in its discretion in the circumstances, declare to be a Change in Control of EIX for purposes
of the Plan. 

10

 

10.   TAXES AND OTHER WITHHOLDING  

Upon
any exercise, vesting, or payment of any LTI, the Company shall have the right at its option to: 

	•
	require the Holder (or the Holder's personal representative or beneficiary, as the case may be) to pay or provide for
payment of at least the minimum amount of any taxes which the Company may be required to withhold with respect to such LTI event or payment; or   

	•
	deduct from any amount otherwise payable in cash to the Holder (or the Holder's personal representative or beneficiary, as
the case may be) the minimum amount of any taxes which the Company may be required to withhold with respect to such cash payment. 

To
the extent that the payment of any LTI pursuant to exercise or vesting requires tax withholding and a sufficient amount of cash (not otherwise deferred) is not generated from the underlying
transaction to satisfy such withholding obligations, EIX shall (except as provided below) substitute a cash award for a number of shares of Common Stock otherwise issuable pursuant to the LTI, rounded
up to the next whole share for fractional shares, valued in a consistent manner at their fair market value as of the date of such exercise or vesting, necessary to satisfy the minimum applicable
withholding obligation in connection with such transaction to the extent that such withholding amount exceeds the amount of cash generated from the underlying transaction and not otherwise deferred.
In no event shall the shares withheld exceed the minimum whole number of shares required for tax withholding under applicable law. If for any reason EIX cannot or elects not to satisfy such
withholding obligations in such manner, or if a tax withholding obligation arises in any other circumstances, the Company shall have the right to satisfy such withholding obligations, or require the
Holder to satisfy such withholding obligations, as otherwise provided above. 

To
the extent that the payment of any LTI pursuant to exercise or vesting requires Garnishment Payments by the Company, and a sufficient amount of cash is not generated by the underlying transaction
to satisfy the Garnishment Payment obligations arising from such transaction, the Company shall substitute a cash award for a number of shares of Common Stock otherwise issuable pursuant to the LTI,
rounded up to the next whole share for fractional shares, having a fair market value on the date of exercise or vesting equal to the amount required by any Garnishment, less any cash received and not
deferred in connection with such transaction. For this purpose, "Garnishment" means garnishment orders, levies, and other assessments imposed by legal
authority and "Garnishment Payments" means payments required by the Company pursuant to any such Garnishment. 

11.   CONTINUED EMPLOYMENT  

Nothing
in the award certificate or these Terms will be deemed to confer on the Holder any right to continue in the employ of any Company or interfere in any way with the right of the Companies to
terminate his or her employment at any time. 

11

 

12.   INSIDER TRADING; SECTION 16  

	12.1
	Insider Trading.    Each Holder shall comply with all EIX notice, trading
and other policies regarding transactions in and involving EIX securities (including, without limitation, policies prohibiting insider trading).

	12.2
	Section 16.    If an LTI is granted to a person who later becomes
subject to the provisions of Section 16 of the Exchange Act ("Section 16") in respect of EIX, the LTI will immediately and automatically
become subject to the requirements of Rule 16b-3(d) and/or 16b-3(e) (the "Rule") and may not be exercised, paid or
transferred until the Rule has been satisfied. In its sole discretion, the Committee may take any action to assure compliance with the requirements of the Rule, including withholding delivery to
Holder (or any other person) of any security or of any other payment in any form until the requirements of the Rule have been satisfied. The Secretary of EIX may waive compliance with the requirements
of the Rule if he or she determines the transaction to be exempt from the provisions of paragraph (b) of Section 16.

	12.3
	Notice of Disposition.    The Holder agrees that if he or she should plan
to dispose of any shares of stock acquired on the exercise or payment of LTI awards (including a disposition by sale, exchange, gift or transfer of legal title) and the Holder is a person who is
required to preclear EIX securities transactions, the Holder will notify EIX prior to such disposition. 

13.   AMENDMENT  

The
LTI are subject to the terms of the Plan, as it may be amended from time to time. EIX reserves the right to amend these Terms from time to time to the extent that EIX reasonably determines that
the amendment is necessary or advisable to comply with applicable laws, rules or regulations or to
preserve the intended tax consequences of the applicable LTI. The LTI may not otherwise be amended or terminated (by amendment to or of the Plan or otherwise) in any manner materially adverse to the
rights of the Holder of the affected LTI without such Holder's consent. 

14.   MISCELLANEOUS  

	14.1
	Force and Effect.    The various provisions herein are severable in their
entirety. Any determination of invalidity or unenforceability of any one provision will have no effect on the continuing force and effect of the remaining provisions.

	14.2
	Governing Law.    These Terms will be construed under the laws of the
State of California.

	14.3
	Notice.    Unless waived by EIX, any notice required under or relating to
the LTI must be in writing, with postage prepaid, addressed to: Edison International, Attn: Corporate Secretary, P.O. Box 800, Rosemead, CA 91770.

	14.4
	Construction.    These Terms shall be construed and interpreted to comply
with Section 409A of the Code. Additionally, when any provision of this document refers to a date, including a date implied by the end of a specified period, and that date falls on a holiday or
weekend, the date shall be deemed to be the next succeeding business day, except that the last day of the Performance Period shall occur on December 31, 2013 and in no event shall the term of
an EIX Option extend beyond its maximum 10-year term. Any determination of trading price or fair market value for purposes of these Terms shall be made consistent with the resolutions
adopted by the EIX Board of Directors on July 19, 2001 entitled "Fair Market Value Measure for Equity-Based Awards." EIX Options and Performance Shares are intended to qualify as
performance-based compensation exempt from the deductibility limitations of Section 162(m) of the Code and these Terms shall be construed and interpreted consistent with that intent. 

12

 

	14.5
	Transfer Representations.    The Holder agrees that any securities
acquired by him or her hereunder are being acquired for his or her own account for investment and not with a view to or for sale in connection with any distribution thereof and that he or she
understands that such securities may not be sold, transferred, pledged, hypothecated, alienated, or otherwise assigned or disposed of without either registration under the Securities Act of 1933 or
compliance with the exemption provided by Rule 144 or another applicable exemption under such act.

	14.6
	Award Not Funded.    The Holder will have no right or claim to any
specific funds, property or assets of the Companies as to any award of LTI.

	14.7
	Section 409A.    Notwithstanding any provision of these Terms to
the contrary, if the Holder is a "specified employee" as defined in Section 409A of the Code, the Holder shall not be entitled to any payment with respect to any LTI subject to
Section 409A in connection with the Holder's Separation from Service until the earlier of (a) the date which is six (6) months after the Holder's Separation From Service for any
reason other than the Holder's death, or (b) the date of the Holder's death. Any amounts otherwise payable to the Holder following the Holder's Separation From Service that are not so paid by
reason of this Section 14.7 shall be paid as soon as practicable for EIX (and in all events within ninety (90) days) after the date that is six (6) months after the Holder's
Separation From Service (or, if earlier, the date of the Holder's death). The provisions of this Section 14.7 shall only apply if, and to the extent, required to comply with Section 409A
of the Code.

	14.8
	Claw-Back.    Notwithstanding any provision of these Terms to
the contrary, the LTI, as well as any shares of Common Stock, cash or other property that may be issued, delivered or paid in respect of the LTI, as well as any consideration that may be received in
respect of a sale or other disposition of any such shares or property, shall be subject to any recoupment, "clawback" or similar provisions of applicable law, as well as any recoupment, "clawback" or
similar policies of the Company that may be in effect from time to time. 

13

QuickLinks

Exhibit 10.2

EDISON INTERNATIONAL 2011 Long-Term Incentives Terms and ConditionsExhibit 10.8

 

THE COCA-COLA EXPORT CORPORATION

 

INTERNATIONAL THRIFT PLAN

 

As Amended and Restated Effective January 1, 2011

 

 

THE COCA-COLA EXPORT CORPORATION

INTERNATIONAL THRIFT PLAN

 

TABLE OF CONTENTS

 

	
 
    	
 
    	
PAGE
    
	
 
    	
 
    	
 
    
	
ARTICLE I
    	
DEFINITIONS
    	
1
    
	
 
    	
 
    	
 
    
	
ARTICLE II
    	
ELIGIBILITY   AND APPROVAL FOR PARTICIPATION
    	
4
    
	
 
    	
 
    	
 
    
	
ARTICLE III
    	
PLAN   ACCOUNTS AND CONTRIBUTIONS
    	
4
    
	
 
    	
 
    	
 
    
	
ARTICLE IV
    	
VESTING
    	
5
    
	
 
    	
 
    	
 
    
	
ARTICLE V
    	
PAYMENT   OF ACCOUNTS
    	
5
    
	
 
    	
 
    	
 
    
	
ARTICLE VI
    	
CHANGE   OR DISCONTINUANCE OF PLAN
    	
6
    
	
 
    	
 
    	
 
    
	
ARTICLE VII
    	
ADMINISTRATION   OF PLAN
    	
6
    
	
 
    	
 
    	
 
    
	
ARTICLE VIII
    	
MISCELLANEOUS   PROVISIONS
    	
9
    

 

 

ARTICLE I

DEFINITIONS

 

The following words and phrases as used herein shall have the meaning specified below, unless a different meaning is plainly required by the context.  The masculine pronoun, wherever used, shall include the feminine. Whenever any words are used herein in the singular, they shall be construed as though they were also used in the plural, in all cases where they would so apply.

 

Account shall mean an account maintained under the Plan for a Member in accordance with Article III.

 

Administrator shall mean the administrator as shall be appointed in accordance with Article VII.

 

Beneficiary shall mean the person or persons designated in writing by the Member to receive any benefits from the Plan due to the death of the Member.    If no Beneficiary is designated, the Beneficiary shall be the Member’s spouse. If no Beneficiary is designated and the Member has no current spouse, the Beneficiary shall be the Member’s estate.

 

Code shall mean the Internal Revenue Code of 1986, as amended.

 

Committee shall mean the Global Benefits Committee, as herein provided in Article VII.

 

Company shall mean The Coca-Cola Company, a Delaware corporation.

 

Compensation shall mean for any Plan Year, the amount derived by including the amounts in Subsections (a) and (b) and excluding the amounts in Subsection (c), as follows:

 

(a) all such Member’s base pay, as such term is used for the purpose of determining the amount of the Member’s bonus under any annual incentive award program sponsored by the Company;

 

(b) unused accrued annual leave payments made pursuant to the International Service Program policy and all annual or discretionary short term incentives paid to the Member, but not including any premiums paid under any International Service program maintained by the Company;

 

(c) all of the following items:  (1)  deferred compensation (other than any deferred compensation payable under a formal incentive arrangement and compensation deferred under The Coca-Cola Company Deferred Compensation Plan); (2) all severance payments; (3) tuition, relocation, and other expense reimbursements; (4) taxable income from excess group life insurance; (5) taxable income from stock option transactions and restricted stock transactions; (6) welfare benefits; (7) cash and noncash fringe benefits; (8) extraordinary remuneration associated

 

 

with an international assignment (including but not limited to, tax equalization payments, mobility allowances, and housing allowances); (9) extraordinary remuneration related to separation of employment or transition of employment; (10) hiring bonuses and any other extraordinary remuneration in conjunction with or related to hiring or transfer; (11) make-whole payments; and (12) ex gratia payments.

 

Compensation will include only those amounts that are actually paid by an Employer.  The Committee may determine a Member’s Compensation in a currency other than U.S. dollars.   Compensation shall not include any cash compensation after the Member’s Separation from Service unless the Member is eligible again for the Plan.

 

Crediting Date shall mean the last day of each month during the Plan Year when the New York Stock Exchange is open for trading, or such other date selected by the Committee for crediting compensation and allocating hypothetical shares of Stock to Members’ Accounts.

 

Disability or Disabled shall mean a physical or mental incapacity that qualifies the Member for benefits under The Coca-Cola Company Long-Term Disability Income Plan or a long-term disability plan of another Employer, provided that the Member is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve months.

 

Employee shall mean any individual who is employed by the Company or a Subsidiary.  An individual shall be treated as an employee under this Plan for any period only if (i) he is actually classified during such period by the Employer on its payroll, personnel and benefits system as an employee, and (ii) he is paid for services rendered during such period through the payroll system, as distinguished from the accounts payable department of the Employer.  No other individual shall be treated as an Employee under this Plan for any period, regardless of his or her status during such period as an employee under common law or under any statute.

 

Employer shall mean the Company or any Subsidiary.

 

Home Country shall mean the country of citizenship or country of initial employment with an Employer.  A Member may have more than one Home Country.  Where there is a question regarding whether or not a country is a Home Country for a Member, the Committee shall make a determination.

 

International Service shall mean those services provided to an Employer by an Employee where the Employee is properly designated on the payroll records of the Employer as an International Service Associate or as otherwise determined in accordance with guidelines established by the Committee.

 

2

 

Market Price shall mean the closing price per share of Stock as reported on the New York Stock Exchange Composite Transactions listing.

 

Member shall mean an Employee who has engaged in International Service, who has become a Member of the Plan as provided in Article II hereof, and who has not ceased to be a Member.

 

Plan shall mean The Coca-Cola Export Corporation International Thrift Plan as herein set forth and as it may be amended from time to time.

 

Plan Sponsor shall mean The Coca-Cola Export Corporation.

 

Plan Year shall mean the twelve month period beginning on January 1 and ending on December 31 of each year.

 

Separation from Service shall mean that employment with an Employer terminates such that it is reasonably anticipated that no further services will be performed.  Separation from Service shall be interpreted in a manner consistent with Section 409A of the Code and the regulations thereunder.

 

Specified Employee shall mean a key employee of an Employer who meets the requirements of Section 416(i)(1)(A)(i), (ii) or (iii) of the Code, as defined in Section 409A of the Code and the regulations thereunder.

 

Stock shall mean the common stock of the Company.

 

Subsidiary shall mean any corporation not less than 80% of whose voting stock or ownership interest (not including shares having voting power only upon the happening of an event of default) is at the time owned, directly or indirectly, by the Company.

 

U.S. Thrift Plan shall mean The Coca-Cola Company Thrift & Investment Plan or any successor tax-qualified defined contribution plan.

 

Valuation Date shall mean December 31 of each Plan Year, or such other date as provided by the Committee.

 

3

 

ARTICLE II

ELIGIBILITY AND APPROVAL FOR PARTICIPATION

 

2.1                                 Each Employee of the Company or of any Subsidiary who has performed International Service shall become a Member of this Plan on the first day of any month coincident with or subsequent to the date upon which the following conditions shall be met:

 

a.               Citizenship:  He shall not be a citizen of the United States.

 

b.              International Employment:  He shall, on such date, be performing International Service.

 

c.               He shall not be a participant in The Coca-Cola Company Thrift & Investment Plan or a savings plan providing a benefit similar to the Plan.

 

2.2                                 A Member shall continue to receive contributions under the Plan until the earliest of:  i) the date on which he discontinues International Service; ii) has a Separation from Service; or iii) is ineligible for continued participation under guidelines established by the Committee.

 

ARTICLE III

PLAN ACCOUNTS AND CONTRIBUTIONS

 

3.1                                 Each Member shall have an Account administered in his name by the Plan Sponsor.  Such Account shall be a bookkeeping entry only and no Stock or other assets shall be placed in the Member’s name.

 

3.2                                 Each Account shall be credited with hypothetical contributions allocated to such Account in accordance with Subsection 3.3 below and credited with hypothetical dividends derived from such contributions, which shall be deemed to be invested as provided in Subsection 3.4 below.  Such an Account shall be maintained for a Member until the value of all hypothetical investments, and any uninvested hypothetical contributions or dividends, has been distributed to or on behalf of the Member. No hypothetical dividends shall be credited to a Member’s Account after death, Disability or Separation from Service.

 

3.3                                 The Plan Sponsor shall credit to each Member’s Account a hypothetical contribution equal to 3% of the Member’s Compensation paid during each month.  If Compensation is denominated in a currency other than U.S. dollars, an equivalent amount in U.S. dollars, using a conversion method determined by the Administrator, shall be used.  As of each Crediting Date, the balance will be converted to a number of hypothetical shares of Stock, based on the closing Stock price on the Crediting Date.   As of each Valuation Date, the Plan Sponsor shall value each Member’s Account and provide a statement to each Member as soon

 

4

 

as administratively feasible.  Such statement may be provided or made available through electronic means.

 

3.4                                 As of each date on which dividends on the stock are payable, each Member’s Account shall be credited with the value of the dividends that would be payable on the hypothetical shares of Stock then allocated to the Member’s Account.

 

ARTICLE IV

VESTING

 

4.1                                 The Member shall be 100% vested in his benefit under the Plan at all times.

 

ARTICLE V

PAYMENT OF ACCOUNTS

 

Benefits under the Plan may be made only in the form and upon occurrence of the events specified in this section.

 

5.1                                 Form of payment.   All benefits under this Plan shall be paid in a single lump sum.

 

5.2                                 Distribution events and time of payment.

 

(a)                                  Separation from Service.  Upon a Member’s Separation from Service, his vested Account balance shall be paid to the Member on the last business day of the third month following the month in which the Member has a Separation from Service.  Notwithstanding the foregoing, the Account of a Specified Employee shall be paid on the last business day of the sixth month following the month in which the Specified Employee has a Separation from Service.

 

(b)                                 Death.  In the event of a Member’s death, his vested Account balance shall be paid to his Beneficiary on the last business day of the second month following the month of the Member’s death.

 

(c)                                  Disability.  In the event of a Member’s Disability, his vested Account balance shall be paid to the Member on the last business day of the third month following the month in which the Member is Disabled.

 

5.3                                 Valuation of Account.  The value of a Member’s Account shall be calculated as follows:  i) the cash value of hypothetical shares of Stock credited to the Member’s Account as of the last Crediting Date prior to Separation from Service, death or Disability, as applicable; plus ii) the cash value of any hypothetical dividends since the last Crediting Date; plus iii) 3% of Compensation since the

 

5

 

last Crediting Date.  In determining the value of the Member’s Account, except as set forth in Section 5.2(a) above, the Stock price shall be the closing price on the fifteenth day of the month in which the Member has a Separation from Service, dies or becomes Disabled, as applicable (or the next business day).  No interest shall be due from the date of Separation from Service, death or Disability or under any other circumstances.

 

5.4                                 Other terms and conditions of payment.

 

(a)                                  Neither Members nor any other persons shall have any rights to payments or benefits of any kind under this Plan until such payments or the payment of benefits have actually been made.

 

(b)                                 All payments shall be made in U.S. dollars.  The payment may be made to the Member only in the Member’s country of residence (determined at the time of payment) unless a different location is required due to tax withholding requirements as determined by the Committee.

 

(c)                                  Benefits payable under this Plan shall be the obligation of the Plan Sponsor.  All payments are paid from the general assets of the Plan Sponsor or Company.

 

(d)                                 A Member’s failure to cash a benefit check within three years of issuance or attempted delivery of such payment shall result in a forfeiture of such payment to the Company.

 

ARTICLE VI

CHANGE OR DISCONTINUANCE OF PLAN

 

6.1                                 The Committee may at any time and from time to time amend, suspend or terminate this Plan in whole or with respect to any one or more employees of said Company or any other Employer.

 

6.2                                 In the event the Plan should be so discontinued, the Committee shall determine the amount of benefits attributable under the Plan to the date of discontinuance.  Actual payment of any such benefits, including payments to Members already retired, shall be subject to approval of the Committee.

 

ARTICLE VII

ADMINISTRATION OF PLAN

 

7.1                                 Appointment of Committee.  The Company’s Vice President of Human Resources, or his designee, shall appoint a Committee of no less than three and no more than seven members, one of whom shall be designated by it as Chairman.

 

6

 

Members of this Committee may be chosen without regard to whether they are directors, officers or employees of the Company or a Subsidiary.  All members of the Committee shall serve at the pleasure of the Vice President of Human Resources of the Company or his designee.  Vacancies on the Committee, arising for any reason whatsoever, shall be filled by the Vice President of Human Resources of the Company or his designee.  Any member of the Committee may resign of his own accord by delivering his written resignation to the Vice President of Human Resources of the Company or his designee.

 

7.2                                 Organization and Operation of Committee.  The Chairman present shall preside at meetings of the Committee.  In his absence, those present will choose one of their number to act as Chairman.  The Committee may appoint a Secretary, who shall keep the minutes of the meetings and perform such other duties as may be assigned to him by the Committee, together with such other officers as it shall deem necessary.  Neither the Secretary nor any other officer appointed by the Committee need be members.  The Committee shall act by the majority of members then in office at all meetings and may set up a procedure to act upon matters by vote in writing without a meeting.  The Committee may authorize one or more of its members and/or its Secretary or Assistant Secretary to sign directions, communications and to execute documents on behalf of the Committee.

 

7.3                                 Powers of the Committee.  The Committee shall administer the Plan and shall have the exclusive responsibility and complete discretionary authority to control the operation and administration of the Plan, with all powers necessary to enable it to properly carry out such responsibility, including but not limited to the power to approve or disapprove a Subsidiary’s adoption of this Plan, the power to construe the terms of the Plan, to determine status, coverage and eligibility for benefits and to resolve all interpretive, equitable, and other questions, including questions of fact, that shall arise in the operation and administration of the Plan.  All actions or determinations of the Committee shall be final, conclusive and binding on all persons.  The Committee shall appoint the Administrator to administer the Plan and to perform other related actions as may from time to time be agreed by the Committee.

 

7.4                                 Expenses of Committee.  The Company shall pay all expenses of the Committee.  Such expenses shall include any expenses incident to the functioning of the Committee, including, but not limited to, salaries of employees, fees for actuarial and other services, attorney’s fees, accounting charges and other costs of administering the Plan.

 

7.5                                 Liability of Employer and Committee.  Neither the Employer nor any Committee member shall be liable for the loss or damage which may result in connection with the execution of his duties or the exercise of his discretion or from any other act or omission hereunder, except when due to his own negligence or willful misconduct.

 

7

 

7.6                                 Claims Procedure.

 

(a)                                  Right to Make Claim.  An interested party who disagrees with a determination of his or her right to Plan benefits must submit a written claim and exhaust this claim procedure before legal recourse of any type is sought.  The claim must include a description of the relevant evidence the interested party believes support the claim and must be submitted to the Committee.  The Committee (or its designee) shall either approve or deny the claim.

 

(b)                                 Appeal of Denial and Final Review.  The interested party may make a written appeal of the Committee’s initial decision, and the Committee (or its designee) shall respond.

 

(c)                                  Time Frame.  The initial claim, its review, appeal and final review shall be made in a timely fashion, subject to the following time table:

 

	
Action
    	
 
    	
Days to Respond From Last Action
    
	
 
    	
 
    	
 
    
	
Benefit   is determined
    	
 
    	
N/A
    
	
Interested   party files initial request
    	
 
    	
60 days (subject to subsection (d) below)
    
	
Committee’s   initial decision
    	
 
    	
90 days
    
	
Interested   party requests final review
    	
 
    	
60 days
    
	
Committee’s   final decision
    	
 
    	
90 days
    

 

However, the Committee may take up to twice the maximum response time for its initial and final review if it provides an explanation within the normal period of why an extension is needed and when its decision shall be forthcoming.

 

(a)                                  Limitation on Actions.  Any claim must be brought within one year after (a) in the case of any lump-sum payment, the date on which the payment was made; (b) in the case of an annuity payment or installment payment, the date of the first payment in the series of payments; or (c) for all other claims, the date on which the action complained of occurred.  Any suit must be brought within one year after the date the Committee (or its designee) has made a final denial (or deemed denial) of a claim for benefits.  Notwithstanding any other provision herein, any suit must be brought within two years after the date the claim first arose (as described above).

 

8

 

ARTICLE VIII

MISCELLANEOUS PROVISIONS

 

8.1                                 Subsidiaries.  In the event the Committee shall determine that a corporation has ceased to be a Subsidiary, such former Subsidiary shall be deemed to have withdrawn from the Plan as of the first day of the next succeeding month, following such determination of the Committee, or, in lieu thereof, as of such other date as the Committee shall determine.  Thereupon, the Plan is deemed to have been discontinued with respect to the employees of said former Subsidiary.

 

8.2                                 Limitation of Responsibility.  Neither the establishment of this Plan nor any modification thereof, nor the creation of any fund or account, nor the payment of any benefits, shall be construed as giving to any Member or other person any legal or equitable right against the Company, or of its Subsidiaries, or any officer or employee thereof, or the Committee, except as herein provided; and in no event shall the terms of employment of any Member be modified or in any way affected thereby.

 

8.3                                 Restrictions on Alienation and Assignment.  Except as set forth in Section 8.6, the right of any Member or any other person to any benefit or to any payment hereunder or to any separate account shall not be subject to alienation or assignment, and if such Member or other person shall attempt to assign, transfer or dispose of such right, or should such right be subjected to attachment, execution, garnishment, sequestration or other legal, equitable or other process, it shall ipso facto pass to such one or more persons as may be selected by the Committee; provided, however, that the Committee in its sole discretion may reappoint the Member or other person to receive any payment thereafter authorized.  The Committee may revoke any appointment made by the Committee hereunder at any time, and a further appointment made by it.

 

8.4                                 Authority of Officers of the Company or of a Subsidiary.  Whenever the Company or a Subsidiary under the terms of this Plan is permitted or required to do or perform any act or matter or thing, it shall be done and performed by any officer thereunder duly authorized by its Board of Directors.

 

8.5                                 Controlling Law.  This Plan shall be subject to the laws of the State of Delaware (except to the extent that Delaware conflicts of law rules would call for the application of the law of another jurisdiction) and any and all disputes arising under this Plan are to be resolved exclusively by courts sitting in Delaware.  The parties hereby waive any claims of improper venue or lack of personal or subject matter jurisdiction as to any such disputes.

 

8.6                                 Offset for Monies Owed.  The benefits provided hereunder will be offset for any monies that the Committee or its designee determines are owed to the Company or any Subsidiary.

 

9

 

IN WITNESS WHEREOF, the Global Benefits Committee has caused this amendment and restatement of the Plan to be executed by a duly authorized member of the Global Benefits Committee effective as of January 1, 2011.

 

 

	
 
    	
By:
    	
  /s/ Susan M. Fleming
    
	
 
    	
 
    	
Committee   Chair
    

 

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