Document:

Fiscal Year 2011 Performance Bonus Plan

  
 Exhibit 10.45

 NOTE: Portions of this Exhibit are the subject of a Confidential Treatment Request by KLA-Tencor Corporation to the Securities and
Exchange Commission (the “SEC”). Such portions have been redacted and are marked with a “**” in place of the redacted language. The redacted information has been filed separately with the SEC. 

 

 

 FY11 PERFORMANCE BONUS PLAN 
 (Annual Executive Bonus) 
 Plan Summary 

The KLA-Tencor Performance Bonus Plan (the “Plan”) is intended to motivate senior executives to achieve short-term and long-term corporate
objectives by providing a competitive bonus for target performance and the appropriate upside opportunity to reward outstanding performance. 

Plan Period 
 This Plan is effective for
the fiscal year period from July 1, 2010 through June 30, 2011. Newly eligible employees (e.g. employees promoted to an incentive-eligible position for the first time or a new hire) must be in an eligible position on or before April 1
of the fiscal year in order to qualify for participation in this fiscal year. 
 Eligible Positions 

The Company’s Chief Executive Officer (CEO) and Executives holding a position at X02 level and above are eligible to participate in the Plan.

 Program Payments 
 Bonus
payments, based on performance during the Plan Period, will be paid within 90 days following June 30, 2011. Bonus calculations are based on paid base salary for the applicable Plan Period. Paid base salary includes base salary and seasonal
bonuses paid in some countries if the seasonal bonus is considered a component of the employee’s annual salary. Paid base salary does not include relocation allowances and reimbursements, tuition reimbursements, car/transportation allowances,
expatriate allowances, commissions, long-term disability payments, or bonuses paid during the fiscal year. A participant must be a regular, active employee of the Company on the date of the payout in order to receive payment. Employees who are
promoted or hired into an eligible position during the year (on or before April 1) will have their payouts calculated on paid salary from the effective date of the promotion or hire. If an employee’s target bonus changes during the year,
the payout will be prorated. 
 Target Bonus 
 A target bonus is established as a percent of base salary for each Plan participant. 
 Funding
Threshold 
 Total available funding for the Plan will be determined by performance against a threshold level as measured by Balanced
Scorecard and Operating Margin (OM) % performance for the fiscal year. The Plan will be fully funded (equivalent to the sum of 3.00 times each Plan participant’s target bonus percentage and base salary) upon achievement of Operating 

  

			
	KLA-Tencor: FY2011 Performance Bonus Plan	  	Effective July 1, 2010

 
Margin Performance of [omitted]** %. This performance threshold constitutes the performance threshold for purposes of Section 162(m) of the Internal Revenue Code (Section 162(m)).
This fully funded amount represents the maximum bonus opportunity for each Plan participant and the maximum total cost of the Plan. 

Performance Matrix and Determination of Funding Available for Bonus Payments 
 The level of funding available for payment to participating executives will be based on performance as measured against the Corporate Balanced Scorecard and OM performance, as provided in the table
(“FY11 Executive Bonus Payout Table”) below. Amounts in the table represent the multiple of each Executive’s target bonus available for allocation of bonus payments. 

FY11 Executive Bonus Payout Table 
  

																																													
	 	  	 	 	  	 	 	  	Operating Margin Performance	 
	 Balanced Scorecard
 Performance
	  	 	 	  	BSC
Multiplier	 	  	<**	 	 	**	 	 	**	 	 	**	 	 	**	 	 	**	 	 	**	 	 	**	 	 	**	 
	 Exceptional
	  	 	5	  	  	 	1.25	  	  	 	0	% 	 	 	25	% 	 	 	38	% 	 	 	50	% 	 	 	100	% 	 	 	113	% 	 	 	125	% 	 	 	219	% 	 	 	375	% 
		  	 	4+	  	  	 	1.10	  	  	 	0	% 	 	 	22	% 	 	 	33	% 	 	 	44	% 	 	 	88	% 	 	 	99	% 	 	 	110	% 	 	 	193	% 	 	 	330	% 
		  	 	4	  	  	 	1.00	  	  	 	0	% 	 	 	20	% 	 	 	30	% 	 	 	40	% 	 	 	80	% 	 	 	90	% 	 	 	100	% 	 	 	175	% 	 	 	300	% 
		  	 	3+	  	  	 	0.90	  	  	 	0	% 	 	 	18	% 	 	 	27	% 	 	 	36	% 	 	 	72	% 	 	 	81	% 	 	 	90	% 	 	 	158	% 	 	 	270	% 
	 Primarily Meets Expectations
	  	 	3	  	  	 	0.80	  	  	 	0	% 	 	 	16	% 	 	 	24	% 	 	 	32	% 	 	 	64	% 	 	 	72	% 	 	 	80	% 	 	 	140	% 	 	 	240	% 
		  	 	3-	  	  	 	0.70	  	  	 	0	% 	 	 	14	% 	 	 	21	% 	 	 	28	% 	 	 	56	% 	 	 	63	% 	 	 	70	% 	 	 	123	% 	 	 	210	% 
		  	 	2+	  	  	 	0.60	  	  	 	0	% 	 	 	12	% 	 	 	18	% 	 	 	24	% 	 	 	48	% 	 	 	54	% 	 	 	60	% 	 	 	105	% 	 	 	180	% 
		  	 	2	  	  	 	0.50	  	  	 	0	% 	 	 	10	% 	 	 	15	% 	 	 	20	% 	 	 	40	% 	 	 	45	% 	 	 	50	% 	 	 	88	% 	 	 	150	% 
		  	 	1+	  	  	 	0.40	  	  	 	0	% 	 	 	8	% 	 	 	12	% 	 	 	16	% 	 	 	32	% 	 	 	36	% 	 	 	40	% 	 	 	70	% 	 	 	120	% 
	 Opportunity for Improvement
	  	 	1	  	  	 	0.30	  	  	 	0	% 	 	 	6	% 	 	 	9	% 	 	 	12	% 	 	 	24	% 	 	 	27	% 	 	 	30	% 	 	 	53	% 	 	 	90	% 
		  				  				  	 	Represents target or “Plan” level of performance	  
		  				  	 	% of Plan	  	  	 	*	* 	 	 	*	* 	 	 	*	* 	 	 	*	* 	 	 	*	* 	 	 	*	* 	 	 	*	* 	 	 	*	* 	 	 	*	* 
		  	 	Multiple cannot exceed 300% regardless of performance	  

 Individual Performance
and Determination of Executive Bonus Payments 
 Each individual Executive’s actual bonus payment amount will be based on the CEO’s
assessment of the Executive’s performance for the year and determination of an Individual Performance Multiplier (“IPM”) ranging from 80-120%. The IPM is multiplied by the Executive’s target bonus and the multiple achieved from
the Performance Matrix to determine the actual bonus payment amount (see bonus calculation below). Each Executive’s performance will be evaluated based on how effectively they led their organization as demonstrated against the key Balanced
Scorecard measures and objectives for the Executive’s respective organization. The IPM and final bonus payments for each Plan participant who is an executive officer of the Company for purposes of Section 16 of the Securities Exchange Act
of 1934, as amended, with the exception of the CEO, will be recommended by the CEO and reviewed and approved by the Compensation Committee. The IPM and final bonus for the CEO will be determined by the Company’s Board of Directors. 

Bonus Calculation 
 The formula for a
participant’s bonus calculation is: 
 Paid Base Salary for Incentive Period 

x Target Bonus 

x Executive Bonus Payout Table 
 x Individual Performance Multiplier (IPM) 
  

 

	**	This information has been omitted pursuant to a request for confidential treatment and has been filed separately with the SEC. 

  

			
	KLA-Tencor: FY2011 Performance Bonus Plan	  	Effective July 1, 2010

 In no event can an individual bonus payment to a participant exceed 3.00 times such participant’s
Target Bonus. 
 General Provisions 
 The Compensation Committee (or the independent members of the Company’s Board of Directors, within the meaning set forth in Section 162(m) (the “Independent Directors”)) shall be the
Plan Administrator. The Compensation Committee (or the Independent Directors) shall make such rules, regulations, interpretations and computations and shall take such other action to administer the Plan as it may deem appropriate. The establishment
of the Plan shall not confer any legal rights upon any employee or other person for a continuation of employment, nor shall it interfere with the rights of the Company to discharge any employee and to treat him or her without regard to the effect
which that treatment might have upon him or her as a participant in the Plan. 
 This Plan shall be construed, administered and enforced by the
Compensation Committee (or the Independent Directors), in its sole discretion. The laws of the State of California will govern any legal dispute involving the Plan. The Compensation Committee (or the Independent Directors) may at any time alter,
amend or terminate the Plan, subject to the requirements of Section 162(m). 

  

			
	KLA-Tencor: FY2011 Performance Bonus Plan	  	Effective July 1, 2010Letter Agreement regarding Series A Purchase

  
 Exhibit 10.42

  

					
	

	  	 DEPARTMENT OF THE TREASURY
 WASHINGTON, D.C. 20220
	  	
			
		  	October 27, 2010	  	

 General Motors Company 
 767 Fifth Avenue, 14th Floor 
 New York, NY 10153 
 Facsimile: 212-418-3630 
 Dear Mr. Daniel Ammann: 

This letter (the “Letter Agreement”) sets forth our agreement with General Motors Company (the
“Company”) with respect to the proposal made by the company to repurchase its Series A Fixed Rate Cumulative Perpetual Preferred Stock, $0.01 par value (the “Series A Preferred Stock”), dated September 21, 2010, as
amended on October 1, 2010 (the “Repurchase Offer”), to holders of the Series A Preferred Stock including The United Stares Department of the Treasury (“Treasury”). 

1. Treasury agrees to sell all (but not part) of the shares of Series A Preferred Stock it holds to the Company on the terms and
conditions set forth in the Repurchase Offer. 
 2. This Letter Agreement shall be governed by the laws of the State of New York
without giving effect to the conflict of law provisions thereof. 
 3. This Letter Agreement shall expire sixty (60) days from
the date hereof (the “Expiration Date”), provided however that Treasury may, at its sole discretion, agree to extend the expiration of this Letter Agreement upon written notice to the Company sent prior to the Expiration Date.

 4. This Letter Agreement may be signed in multiple counterparts, each of which shall be deemed an original and all of which
together shall constitute one and the same instrument. 

  
 
			
	 Sincerely,
  

THE UNITED STATES DEPARTMENT OF THE TREASURY

		
	By:	 	/s/ Timothy G. Massad

			
	Name:	 	Timothy G. Massad
	Title:	 	Acting Assistant Secretary for Financial Stability

Accepted and Agreed: 
 General Motors Company

  

			
	By:	 	/s/ Daniel Ammann

			
	Name:	 	Daniel Ammann
	Title:	 	Vice President Finance and Treasurer

  

 
  
  

 
  
  

 
  
  

[SIGNATURE PAGE TO PREFERRED STOCK REPURCHASE LETTER AGREEMENT] 

  

 

 

 Daniel Ammann 
 Vice President Finance & Treasurer 
 October 1, 2010 

The United States Department of Treasury 

Office of Financial Stability 
 Attn:
Mr. David Miller 
 Chief Investment Officer 
 1500 Pennsylvania Avenue 
 Washington, D.C. 20220 

Ladies and Gentlemen: 
 General Motors Company
(“GM” or “we”) is modifying its letter to you dated September 21, 2010 (the “September 21 Letter”), a copy of which is attached, in which we offered to purchase up to 200 million shares of our Series A Stock.
We now offer to purchase Series A Preferred at a price per share of $25.50, which is equal to 102% of the Liquidation Amount. (All capitalized terms not defined in this letter are used as defined in the September 21 Letter.) 

Our offer set forth in the September 21 Letter as modified by this letter will be withdrawn if we do not receive your written response by mail or
electronic transmission (including e-mail) prior to 5:00 p.m., Eastern Daylight Time, on October 4, 2010. 
 The terms and conditions set
forth in the September 21 Letter are otherwise unchanged. 
 [End of page] 

General Motors Building, 767 Fifth Avenue, 14th Floor, New York, New York 10153 

  
 October 1, 2010 

Page 2 
  
 The September 21 Letter provides information about where to send your response. 
 Very truly
yours, 
  

			
	 GENERAL MOTORS COMPANY

		
	 By:
	 	/s/ Daniel Ammann
		 	Daniel Ammann
		 	Vice President Finance and Treasurer

 Enclosure

 We are willing to sell up to              shares of Series A Preferred to you on
the terms set forth in this letter. 
  

							
		 		 	United States Department of Treasury
				
	  
	 		 	By:	 	  

	Date:	 		 	Signature

  

 

 

 Daniel Ammann 
 Vice President Finance & Treasurer 
 September 21, 2010 

The United States Department of Treasury 

Office of Financial Stability 
 Attn:
Mr. Herbert M. Allison, Jr. 
 Assistant Secretary for Financial Stability and Counselor to the Secretary 

1500 Pennsylvania Avenue 
 Washington, D.C. 20220

 Ladies and Gentlemen: 
 General
Motors Company (“GM” or the “Company”) is offering to purchase its Series A Fixed Rate Cumulative Perpetual Preferred Stock, $0.01 par value (the “Series A Preferred”), at a price per share of $25, which is equal to the
Liquidation Amount, from all of the record owners of Series A Preferred (the “Series A Holders”). (All capitalized terms not defined in this letter are used as defined in the Certificate of Designation of the Series A Preferred.)

 This offer is conditioned on (1) the closing of a revolving credit facility available to the Company or its subsidiaries in an aggregate
principal amount of not less than $5 billion and (2) the closing of an initial public offering of the Company’s Common Stock, $0.01 par value. We intend to consummate our purchase of the Series A Preferred on the first Dividend Payment
Date that occurs after both conditions have been satisfied. 
 At the closing of the purchase of the Series A Preferred (the
“Closing”), you will receive cash equal to: (1) the purchase price for the Series A Preferred we purchase from you and (2) the Dividend payable on such shares in respect of the Dividend Period that ends on the day before the
Closing. 
 [End of page] 
 General Motors Building, 767 Fifth Avenue, 14th Floor, New York, New York 10153 

  
 September 21, 2010

 Page 2 
  
 We intend to purchase a total of 200 million shares of Series A Preferred. If you wish to accept this offer, please indicate below how many shares of Series A Preferred you are willing to sell (your
“Proffered Shares”). If the aggregate number of shares of Proffered Shares from all Series A Holders is 200 million or less, we will purchase all Proffered Shares; if the total number of Proffered Shares is more than 200 million
shares, we will purchase, on a pro rata basis, 200 million shares of Series A Preferred based on the number of Proffered Shares from each Series A Holder (which may exceed 200 million in the case of the UAW Retiree Medical Benefits Trust).

 Our offer will be withdrawn if we do not receive your written response by mail or electronic transmission (including e-mail) prior to 5:00
p.m., Eastern Daylight Time, on October 1, 2010. 
 Please send your response to: 
 Mr. Daniel Ammann 
 Vice President Finance and Treasurer, General Motors 

767 Fifth Avenue 
 14th Floor 
 New York, NY 10153 
 daniel.ammann@gm.com 
 Phone: 212-418-3500 
 Facsimile: 212-418-3630 

We will inform you about the number of shares of Series A Preferred that we will purchase from you and the timing of the Closing subsequently.

 Very truly yours, 
  

			
	 GENERAL MOTORS COMPANY

		
	 By:
	 	/s/ Daniel Ammann
		 	Daniel Ammann
		 	Vice President Finance and Treasurer

 We are willing to
sell up to              shares of Series A Preferred to you on the terms set forth in this letter. 
  

							
		 		 	United States Department of the Treasury
				
	  
	 		 	By:	 	  

	Date:	 		 	Signature

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