Document:

The P&G 2009 Stock and Incentive Compensation Plan - Additional terms

 Exhibit (10-2) 

The Procter & Gamble 2009 Stock and Incentive Compensation Plan - related correspondence. 

 

 

  
  

<date> 

Name     Global Id # 

Subject: NON-STATUTORY STOCK OPTION SERIES XX-AA 
 In recognition of your contributions to the future success of the business, The Procter & Gamble Company (“Company”) hereby grants to you an option to purchase shares of
Procter & Gamble Common Stock as follows: 
 Grant Value: (Grant Value) 

Option Price per Share: (Grant Price) 
 Number of Shares: (# of Shares) 
 Date of Grant: (Grant Date) 

Expiration of Option: (Expiration Date) 
 Option Vest Date: 100% after (Vest Date) 
 Acceptance Deadline:
(Acceptance Deadline Date) 
 This stock option is granted in accordance with and subject to the terms of The Procter & Gamble
2009 Stock and Incentive Compensation Plan (including any applicable sub-plan) (“the Plan”), the Regulations of the Compensation and Leadership Development Committee of the Board of Directors (“Committee”), and the Exercise
Instructions in place as may be revised from time to time. 
 The option is not transferable other than by will or the laws of descent and
distribution and is exercisable during your life only by you. This option will become void upon any separation (including retirement) from the Company or any of its subsidiaries within 6 months of the grant date. This option may also become void
upon separation from the Company or any of its subsidiaries at any time later than 6 months after the grant date (see Article G, paragraph 9(a) of the Plan). For the purposes of this option, separation from the Company or any of its subsidiaries and
termination of employment will be effective as of the date that you are no longer actively employed and will not be extended by any notice period required under local law. 
 Please note that when the issue or transfer of the Common Stock covered by this option may, in the opinion of the Company, conflict or be inconsistent with any applicable law or regulation of any
governmental agency, the Company reserves the right to refuse to issue or transfer said Common Stock and that any outstanding options may be suspended or terminated and net proceeds may be recovered by the Company, if you fail to comply with the
terms and conditions governing this award. 

 This option to purchase shares of Common Stock of the Company is subject to the Employee Acknowledgement and
Consent Form enclosed and to the terms of the Plan and Regulations of the Committee, with which you acknowledge you are familiar by accepting this award, including the non-compete and non-solicitation provisions and other terms of Article F of the
Plan. The option is also subject to and bound by the actions of the Compensation and Leadership Development Committee and of the Company’s Board of Directors. This option grant, the Plan and Regulations of the Committee together constitute an
agreement between the Company and you in accordance with the terms thereof and hereof, and no other understandings and/or agreements have been entered by you with the Company regarding this specific stock option grant. Any legal action related to
this option, including Article F, may be brought in any federal or state court located in Hamilton County, Ohio, USA, and you hereby agree to accept the jurisdiction of these courts and consent to service of process from said courts solely for legal
actions related to this option grant. 
 Under IRS standards of professional practice, certain tax advice must meet requirements as to form and
substance. To assure compliance with these standards, we disclose to you that this communication is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties or promoting, marketing, or recommending to another
party any transaction or matter addressed herein. 
 THE PROCTER & GAMBLE COMPANY 

Moheet Nagrath 
 Global Human Resources Officer 

	
	  

 

 

  
  

<date> 

Name                Global Id # 

Subject: AWARD OF RESTRICTED STOCK UNITS SERIES XX-KM-RSU 
 In recognition of your contributions to the future success of the business, The Procter & Gamble Company (“Company”) hereby grants to you Restricted Stock Units (“RSUs”) as
follows: 
 Number of Restricted Stock Units:        (# Units) 

Date of Grant:            <date> 

Forfeiture Date:            <date> 

Settlement Date (Shares Delivered on):    <date> 
 Acceptance Deadline:            <date> 
 These RSUs are granted in accordance with and subject to the terms of The Procter & Gamble 2009 Stock and Incentive Compensation Plan (including any applicable sub-plan) (the “Plan”),
the Regulations of the Compensation and Leadership Development Committee of the Board of Directors (“Committee”), the Settlement Instructions in place as may be revised from time to time, and the attached Statement of Terms and Conditions
Form KM. 
 RSUs are not transferable other than by will or the laws of descent and distribution and are exercisable during your life only by
you. RSUs will become void upon any separation (including retirement) from the Company or any of its subsidiaries within 6 months of the grant date. RSUs may also become void upon separation from the Company or any of its subsidiaries at any time
later than 6 months after the grant date (see Section 2(b) of Terms and Conditions Form KM). For the purposes of this RSU grant, separation from the Company or any of its subsidiaries and termination of employment will be effective as of the
date that you are no longer actively employed and will not be extended by any notice period required under local law. 
 Please note that when
the issue or transfer of the Common Stock covered by this RSU grant may, in the opinion of the Company, conflict or be inconsistent with any applicable law or regulation of any governmental agency, the Company reserves the right to refuse to issue
or transfer said Common Stock and that any outstanding RSUs may be suspended or terminated and net proceeds may be recovered by the Company if you fail to comply with the terms and conditions governing this award. 

 RSUs granted hereunder are subject to the Employee Acknowledgement and Consent Form enclosed, the terms of
the Plan and Regulations of the Committee, and the attached statement of Terms and Conditions Form KM, with which you acknowledge you are familiar by accepting this award, including the non-compete and non-solicitation provisions and other terms of
Article F of the Plan. These RSUs are also subject to and bound by the actions of the Compensation and Leadership Development Committee and of the Company’s Board of Directors. This RSU grant, the Plan and Regulations of the Committee, and the
attached statement of Terms and Conditions Form KM together constitute an agreement between the Company and you in accordance with the terms thereof and hereof, and no other understandings and/or agreements have been entered by you with the Company
regarding these RSUs. Any legal action related to these RSUs, including the non-compete provisions, may be brought in any federal or state court located in Hamilton County, Ohio, USA, and you hereby agree to accept the jurisdiction of these courts
and consent to service of process from said courts solely for legal actions related to this RSU grant. 
 Under IRS standards of professional
practice, certain tax advice must meet requirements as to form and substance. To assure compliance with these standards, we disclose to you that this communication is not intended or written to be used, and cannot be used, for the purpose of
avoiding penalties or promoting, marketing, or recommending to another party any transaction or matter addressed herein. 
 THE
PROCTER & GAMBLE COMPANY 
 Moheet Nagrath 

Global Human Resources Officer 

	
	  

 

 

  
  

<date> 
 Name
                                         
       Global Id # 
 Subject: AWARD OF PERFORMANCE STOCK UNIT SERIES XX-XX-PSP 

In recognition of your contributions to the future success of the business, The Procter & Gamble Company (“Company”) hereby grants to
you Performance Stock Units (“PSUs”) as follows: 
  

			
	Target Number of PSUs:	  	(Target # Units)
	Maximum Number of PSUs:	  	(Maximum # Units)
	Grant Date:	  	<date>
	Forfeiture Date:	  	(Forfeiture Date)
	Performance Period:	  	July 1, 20XX - June 30, 20XX
	Original Settlement Date (Shares Delivered on):	  	(Original Settlement Date)
	Acceptance Deadline:	  	<date>

 These PSUs are granted in accordance with
and subject to the terms of The Procter & Gamble 2009 Stock and Incentive Compensation Plan (including any applicable sub-plan) (the “Plan”), the Performance Stock Plan, the Regulations of the Compensation and Leadership
Development Committee of the Board of Directors (“Committee”), the Settlement Instructions in place as may be revised from time to time, and the attached Statement of Terms and Conditions Form-PP. 

PSUs are not transferable other than by will or the laws of descent and distribution. PSUs will become void upon any separation (includ-ing retirement)
from the Company or any of its subsidiaries on or before August 31, 20XX. PSUs may also become void upon separation from the Company or any of its subsidiaries at any time later than August 31, 20XX (see Section 4 of Terms and
Conditions Form PP). For the purposes of this PSU grant, separation from the Company or any of its subsidiaries and termination of employment will be effective as of the date that you are no longer actively employed and will not be extended by any
notice period required under local law. 
 Your right to receive all, any portion of or more than the Target Number of PSUs (but in no event
more than the Maximum Number of PSUs) is contingent upon the achievement of specified levels of certain performance goals measured over the Performance Period. The applicable performance goals and payout factors for each performance goal applicable
to your award for the Performance Period are set forth in attachment A. 
 Please note that when the issue or transfer of the Common Stock
covered by this PSU grant may, in the opinion of the Company, conflict or be inconsistent with any applicable law or regulation of any governmental agency, the Company reserves the right to refuse to issue or transfer said Common Stock and that any
outstanding PSUs may be suspended or terminated and net proceeds may be recovered by the Company, if you fail to comply with the terms and conditions governing this award. 

 PSUs granted hereunder are subject to the Employee Acknowledgement and Consent Form enclosed, the terms of
the Plan, the Performance Stock Plan, and Regulations of the Committee, and the attached statement of Terms and Conditions Form-PP, with which you acknowledge you are familiar by accepting this award, including the non-compete and non-solicitation
provisions and other terms of Article F of the Plan. These PSUs are also subject to and bound by the actions of the Compensation and Leadership Development Committee and of the Company’s Board of Directors. This PSU grant, the Plan, the
Performance Stock Plan and Regulations of the Committee, and the attached statement of Terms and Conditions Form-PP together constitute an agreement between the Company and you in accordance with the terms thereof and hereof, and no other
understandings and/or agreements have been entered by you with the Company regarding these PSUs. Any legal action related to these PSUs, including the non-compete provisions, may be brought in any federal or state court located in Hamilton County,
Ohio, USA, and you hereby agree to accept the jurisdiction of these courts and consent to service of process from said courts solely for legal actions related to this PSU grant. 
 Under IRS standards of professional practice, certain tax advice must meet requirements as to form and substance. To assure compliance with these standards, we disclose to you that this communication is
not intended or written to be used, and cannot be used, for the purpose of avoiding penalties or promoting, marketing, or recommending to another party any transaction or matter addressed herein. 

THE PROCTER & GAMBLE COMPANY 
 Moheet Nagrath 
 Global Human Resources Officer 

 Employee Acknowledgement and Consent Form 

I understand that I am eligible to receive a grant under The Procter & Gamble 2009 Stock and Incentive Compensation Plan referred to as the
“Plan”. 
 Data Privacy 
 I hereby explicitly and unambiguously consent to the collection, use and transfer, in electronic or other form, of my personal data as described in this document by and among, as applicable, my employer
(“Employer”) and The Procter & Gamble Company and its subsidiaries and affiliates (“P&G”) for the exclusive purpose of implementing, administering and managing my participation in the Plan. 

I understand that P&G and my Employer hold certain personal information about me, including, but not limited to, my name, home address and telephone
number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares of stock or directorships held in P&G, details of all grants or any other entitlement to shares of stock awarded, canceled,
exercised, vested, unvested or outstanding in my favor, for the purpose of implementing, administering and managing the Plan (“Data”). I understand that Data may be transferred to any third parties assisting in the implementation,
administration and management of the Plan, that these recipients may be located in my country or elsewhere, and that the recipient’s country may have different data privacy laws and protections than my country. I understand that I may request a
list with the names and addresses of any potential recipients of the Data by contacting my local human resources representative. I authorize the recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the
purposes of implementing, administering and managing my participation in the Plan, including any requisite transfer of such Data as may be required to a broker or other third party with whom I may elect to deposit any shares of stock acquired upon
exercise or settlement of the grant. I understand that Data will be held only as long as is necessary to implement, administer and manage my participation in the Plan. I understand that I may, at any time, view Data, request additional information
about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing my local human resources representative. I understand, however, that
refusing or withdrawing my consent may affect my ability to participate in the Plan. For more information on the consequences of my refusal to consent or withdrawal of consent, I understand that I may contact my local human resources representative.

 Nature of Grant 
 By
completing this form and accepting the grant evidenced hereby, I acknowledge that: i) the Plan is established voluntarily by The Procter & Gamble Company, it is discretionary in nature and it may be amended, suspended or terminated at any
time; ii) the grant under the Plan is voluntary and occasional and does not create any contractual or other right to receive future grants, or benefits in lieu of a grant, even if grants have been granted repeatedly in the past; iii) all decisions
with respect to future grants, if any, will be at the sole discretion of P&G; iv) my participation in the Plan is voluntary; v) the grant is an extraordinary item and not part of normal or expected compensation or salary for any purposes
including, but not limited to, calculating any termination, severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments; vi) in the

 
event that my employer is not P&G, the grant will not be interpreted to form an employment relationship with P&G; and furthermore, the grant will not be interpreted to form an employment
contract with my Employer; vii) the future value of the shares purchased under the Plan is unknown and cannot be predicted with certainty, may increase or decrease in value, and potentially have no value; iix) my participation in the Plan shall not
create a right to further employment with my Employer and shall not interfere with the ability of my Employer to terminate my employment relationship at any time, with or without cause; ix) and no claim or entitlement to compensation or damages
arises from the termination of the grant or the diminution in value of the grant or shares purchased and I irrevocably release P&G and my Employer from any such claim that may arise. 
 Responsibility for Taxes 
 Regardless of any action P&G or my Employer takes with
respect to any or all income tax, social insurance, payroll tax, payment on account or other tax-related withholding (“Tax-Related Items”), I acknowledge that the ultimate liability for all Tax-Related Items is and remains my
responsibility and that P&G and/or my Employer (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the grant, including the issuance, vesting, exercise, settlement,
the subsequent sale of shares acquired, the receipt of any dividends or the potential impact of current or future tax legislation in any jurisdiction; and (2) do not commit to structure the terms of the grant or any aspect of the grant to
reduce or eliminate my liability for Tax-Related Items. 
 Prior to exercise or settlement of a grant, I shall pay or make adequate arrangements
satisfactory to P&G and/or my Employer to satisfy all withholding and payment on account obligations of P&G and/or my Employer. In this regard, I authorize P&G and/or my Employer to withhold all applicable Tax-Related Items from my wages
or other cash compensation paid to me by P&G and/or my Employer or from proceeds of the sale of the shares. Alternatively, or in addition, if permissible under local law, P&G may (1) sell or arrange for the sale of shares that I acquire
to meet the withholding obligation for Tax-Related Items, and/or (2) withhold in shares, provided that P&G only withholds the amount of shares necessary to satisfy the minimum withholding amount. Finally, I shall pay to P&G or my
Employer any amount of Tax-Related Items that P&G or my Employer may be required to withhold as a result of my participation in the Plan or my purchase of shares that cannot be satisfied by the means previously described. P&G may refuse to
honor the exercise and refuse to deliver the shares if I fail to comply with my obligations in connection with the Tax-Related Items as described in this section. 

 20XX Executive Compensation Payment Preferences 

20XX Base
Salary                        Name 
         % Deferred Compensation1 (max 50%) 

20XX/XX STAR Award 

        % Cash* 
         % Stock Options 

        % Deferred
Compensation1 

        % Restricted Stock Units (RSUs) 

Deliver shares on September 15,             .

 Deliver shares one year after separation or per my retirement RSU election 

20XX Key Manager Long Term Incentive Award 
         % Stock Options* (50%, 75%, 100%) 

        % RSUs            (50%, 25%, 0%)

 20XX Performance Stock Program (PSP) Award 
 There is no election required for 20XX. 

 Your signature below indicates your agreement that any awards granted or paid pursuant to the STAR and/or
PSP programs will be subject to the terms of the Senior Executive Officer Recoupment Policy. This Policy provides that in the event of a significant restatement of financial results, if compensation paid pursuant to STAR and/or PSP would have been
lower based on restated results, the Compensation and Leadership Development Committee may seek to recoup from the senior executive officers some or all of the compensation paid pursuant to STAR and/or PSP. A copy of the policy is available from
Kathy Hardman. 

Signature                        
        Date 
 Sign and return this form to Kathy Hardman, Global Executive
Compensation, TN4 GO by 
 <date>, otherwise all awards will be paid in the default form. 

 

	*	Default payment form 

  

	1 	 For Deferred Compensation, please complete and return Election to Defer (Form B). First time participants also complete and return the Designation of
Payment Form (Form C) and the Beneficiary Designation Form.The P&G Performance Stock Program Summary & related terms & conditions

 Exhibit (10-3) 

The Procter & Gamble Performance Stock Program Summary and related terms and conditions 

 PERFORMANCE STOCK PROGRAM SUMMARY 

The Performance Stock Program (“PSP”) is a part of The Procter & Gamble Company’s (the “Company”) long-term incentive
compensation and is designed to provide additional focus on key Company measures for top executives with senior management responsibility for total Company results. Awards granted under the PSP (“PSP Awards”) are made pursuant to authority
delegated to the Compensation & Leadership Development Committee (the “C&LD Committee”) by the Board of Directors for determining compensation for the Company’s principal officers and for making awards under the
Procter & Gamble 2009 Stock and Incentive Compensation Plan (the “2009 Plan”) or any successor stock plan approved in accordance with applicable listing standards. To the extent awarded under the 2009 Plan, the PSP Awards are
Performance Awards (as defined in the 2009 Plan). 
  

	I.	ELIGIBILITY 

 The Chairman of the
Board and Chief Executive Officer and those principal officers at Band 7 or above recommended by management and approved by the C&LD Committee are eligible to participate (“Participants”). 

 

	II.	OVERVIEW 

 PSP rewards Participants
for Company performance against certain three-year performance goals in categories established by the C&LD Committee. The C&LD Committee sets these performance goals for each three-year period that begins on July 1 and ends on
June 30 three years later (“Performance Period”). In the first year of each Performance Period, the C&LD Committee grants Performance Stock Units (“PSUs”) to Participants that will vest at the end of the Performance
Period based on the Company’s performance relative to the pre-established performance goals (“Initial PSU Grant”). The number of PSUs that vest at the end of the Performance Period depends on the Company’s performance against the
pre-established performance goals. Vested PSUs are converted into shares of the Company’s common stock (“Common Stock”) delivered to the applicable Participant within 60 days following the end of the Performance Period, or such later
date as may be elected by the Participant in accordance with Section 409A of the Internal Revenue Code (“Section 409A”). 
  

	III.	THE INITIAL PSU GRANT 

 The
C&LD Committee has the sole discretion to establish the target award (“PSP Target”) for each Participant. The PSP Target will be a cash amount and will be the basis for the Initial PSU Grant. The C&LD Committee will make the
Initial PSU Grant on the last business date in February (“Grant Date”) following the beginning of each Performance Period. The Initial PSU Grant will set forth a target and maximum number of PSUs. The Initial PSU Grant target will be
determined by dividing the PSP Target 

 
by the price of the Company’s Common Stock as determined by the Regulations of the Compensation and Leadership Development Committee for the 2009 Plan, rounding to the nearest whole unit.
The Initial PSU Grant maximum will be two times the Initial PSU Grant target. 
  

	IV.	PERFORMANCE CATEGORIES  

 The PSP
Award is based on the Company’s performance in each of the following categories (each a “Performance Category”): 
  

	 	•	 	 Organic sales growth (percentile rank in peer group) 

  

	 	•	 	 Before-tax operating profit growth 

  

	 	•	 	 Core earnings per share (EPS) growth 

  

	 	•	 	 Free cash flow productivity 

Within the first 90 days of each Performance Period, the C&LD Committee sets three-year performance goals (“Performance Goals”) for each
Performance Category for such Performance Period and establishes a sliding scale to measure the Company’s performance against each Performance Goal in each Performance Category. The C&LD Committee uses the sliding scale to establish a
payout factor between 0% and 200% for each Performance Category ( a “Sales Factor”, “Profit Factor”, “EPS Factor” and “Cash Flow Factor”, collectively, “Performance Factors”). 

In all cases, the C&LD Committee retains the discretion to include or exclude certain of the Performance Categories for purposes of determining the
PSP Award. The C&LD Committee may reduce or eliminate any payment if it determines that such payout is inconsistent with long-term shareholders’ interests. 
  

	V.	PSU VESTING AND PAYMENT 

After the Performance Period is complete, the C&LD Committee will establish the Payout Factors for each of the Performance Categories based on the
Company’s results versus the pre-established Performance Goals. The number of PSUs that vest will be determined by multiplying the average of the Performance Factors by the number of PSUs in the Initial PSU Grant target, rounding up to the
nearest whole number. The number of PSUs that vest may be equal to, above or below the Initial PSU Grant target depending on the Company’s performance in the Performance Categories, but in no event more than the Initial PSU Grant maximum.
Vested PSUs are converted into shares of Common Stock delivered to the applicable Participant within 60 days following the end of the Performance Period, or such later date as may be elected by the Participant in accordance with Section 409A.

  

	VI.	SEPARATION FROM THE COMPANY (Defined terms shall have the meaning designated in the 2009 Plan or related award documents)

  

	•	 	 Retirement Special Separation (less than age 55 and therefore not eligible for regular retirement) or Disability prior to payment:

  

	 	•	 	 The Participant must be an active employee as of August 31st following the first year of the Performance Period.

	 	•	 	 The PSP Award will vest and be paid according to the terms and conditions set forth herein. 

 

	 	•	 	 The Participant must comply with all terms and conditions set forth in the 2009 Plan, including those set forth in Article F.

  

	•	 	 Death prior to payment: 

  

	 	•	 	 All PSP Awards will vest and be paid to the decedent’s estate according to the terms and conditions set forth herein, and shall be subject
to the terms and conditions set forth in the 2009 Plan, including those set forth in Article F. 

  

	•	 	 Voluntary resignation or termination for cause: 

 

	 	•	 	 If a Participant voluntarily resigns or is terminated for cause prior to the completion of the Performance Period, the PSP Award shall be void.

  

	 	•	 	 If a Participant voluntarily resigns or is terminated for cause after the Performance Period is complete, but prior to payment, the PSP Award shall
vest and be paid according to the terms and conditions set forth herein. 

  

	 	•	 	 The Participant must comply with all terms and conditions set forth in the 2009 Plan, including those set forth in Article F.

  

	VII.	CHANGE IN CONTROL 

 Notwithstanding
the foregoing, if there is a Change in Control that meets the requirements of a change in control event under Section 409A, all outstanding PSP Awards will vest at 100% of the Initial PSU Grant target (or 100% of the PSP Target if the Change in
Control occurs prior to the Initial PSU Grant) and shall be paid in shares of Common Stock at the time of such Change in Control. If there is a Change in Control event that does not meet the requirements of a change in control event under
Section 409A, all outstanding PSP Awards will be settled according to the terms and conditions set forth herein, without the application of Article L, Paragraph 4 of the Plan. “Change in Control” shall have the same meaning as defined
in the 2009 Plan or any successor stock plan approved in accordance with applicable listing standards. 
  

	VIII.	GENERAL TERMS AND CONDITIONS 

 It
shall be understood that the PSP does not give to any officer or employee any contract rights, express or implied, against any Company for any PSP Award, or for compensation in addition to the salary paid to him or her, or any right to question the
action of the Board of Directors or the C&LD Committee. 

 Each PSP Award made to an individual at Band 7 and above is subject to the Senior Executive Recoupment
Policy adopted by the C&LD Committee in December 2006. 
 To the extent applicable, it is intended that the PSP comply with the provisions
of Section 409A. The PSP will be administered and interpreted in a manner consistent with this intent. Neither a Participant nor any of a Participant’s creditors or beneficiaries will have the right to subject any deferred compensation
(within the meaning of Section 409A) payable under the PSP to any anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment. Except as permitted under Section 409A, any deferred compensation
(within the meaning of Section 409A) payable to a Participant under the PSP may not be reduced by, or offset against, any amount owing by a Participant to the Company. 
 This program document may be amended at any time by the C&LD Committee. 

 THE PROCTER & GAMBLE COMPANY 

STATEMENT OF TERMS AND CONDITIONS FOR PERFORMANCE STOCK UNITS 

THE PROCTER & GAMBLE 2009 STOCK AND INCENTIVE COMPENSATION PLAN 

The Performance Stock Units awarded to you as set forth in the letter you received from the Company (your “Award Letter”), and
your ownership thereof, are subject to the following terms and conditions. 
  

	1.	Definitions. 

 For purposes of this Statement of Terms and Conditions for Performance Stock Units (“Terms and Conditions”), all capitalized terms not defined in these Terms and Conditions will have the
meanings described in The Procter & Gamble 2009 Stock and Incentive Compensation Plan (the “Plan”), and the following terms will have the following meanings. 

 

	 	(a)	“Data” has the meaning described in Section 8; 

  

	 	(b)	“Disability” shall have the meaning provided under Internal Revenue Code Section 409A and corresponding regulations (collectively “Section
409A”). 

  

	 	(c)	“Forfeiture Date” is the date identified as such in your Award Letter; 

 

	 	(d)	“Forfeiture Period” means the period from the Grant Date until the Forfeiture Date. 

 

	 	(e)	“Grant Date” means the date a Performance Stock Unit was awarded to you, as identified in your Award Letter; 

 

	 	(f)	“Maximum Units” has the meaning described in section 3 and as identified as the Maximum Number of Performance Stocks Units in your Award Letter.

  

	 	(g)	“Original Settlement Date” is the date identified as such in your Award Letter, as adjusted, if applicable, by Section 2;

	 	(h)	“Procter & Gamble” means the Company and/or its Subsidiaries; 

 

	 	(i)	“Performance Period” means the period identified as such in your Award Letter. 

 

	 	(j)	“Performance Stock Unit” means an unfunded, unsecured promise by the Company, subject to, and in accordance with these Terms and Conditions and the
provisions of the Plan, to issue to you one share of Common Stock or a Restricted Stock Unit on the Original Settlement Date; 

  

	 	(k)	“Separation from Service” shall have the meaning provided under Section 409A. 

 

	 	(l)	“Target Units” has the meaning described in Section 3 and as identified as the Target Number of PSUs in your Award Letter.

  

	2.	Transfer and Restrictions. 

  

	 	(a)	Neither Performance Stock Units nor your interest in them may be sold, exchanged, transferred, pledged, hypothecated, given or otherwise disposed of by you at any time,
except by will or by the laws of descent and distribution. Any attempted transfer of a Performance Stock Unit, whether voluntary or involuntary on your part, will result in the immediate forfeiture to the Company, and cancellation, of the
Performance Stock Unit. 

  

	 	(b)	During the Forfeiture Period, your Performance Stock Units will be forfeited and cancelled if you leave your employment with Procter & Gamble for any reason,
except due to: (i) your Disability; (ii) death; (iii) Retirement in accordance with the provisions of any appropriate Retirement plan of Procter & Gamble that occurs after August 31 following the first year of the
Performance Period; or (iv) Special Separation that occurs after August 31 following the first year of the Performance Period. In the event of your death or Disability during the Forfeiture Period, your Forfeiture Date will automatically
and immediately become, without any further action by you or the Company, the date of your death or Disability. In the event of your Retirement or Special Separation that occurs after August 31 following the first year of the Performance
Period, your Forfeiture Date will automatically and immediately become, without any further action by you or the Company, the date of your Retirement or Special Separation. 

 

	 	(d)	Upon the occurrence of a Change in Control that meets the definitional requirements of a change in control event as defined under Section 409A, then
notwithstanding anything in the Plan to the contrary, if not previously cancelled, forfeited or vested, (i) the Target Units will vest, (ii) your right to any Performance Stock Units greater than the Target Units will be forfeited, and
(iii) your Original Settlement Date will become the date the Change in Control occurred. Upon the occurrence of a Change in Control that does not meet the definitional requirements of a change in control event as defined under
Section 409A, then notwithstanding anything in the Plan to the contrary, your award will be settled in accordance with these Terms and Conditions, without the application of Article L, Paragraph 4 of the Plan. 

	 	(e)	From time to time, the Company and/or the Committee may establish procedures with which you must comply in order to accept an award of Performance Stock Units, or to
settle your Performance Stock Units, including requiring you to do so by means of electronic signature, or charging you an administrative fee for doing so. 

 

	3.	Performance Vesting 

  

	 	(a)	Subject to these Terms and Conditions, your targeted number of Performance Stock Units indicated in your Award Letter (the “Target Units”) will vest
depending upon performance during the Performance Period, as specified below. Your Award Letter also sets forth the maximum number of Performance Stock Units (the “Maximum Units”) that you may receive pursuant to this award. Your
right to receive all, any portion of, or more than the Target Units (but in no event more than the Maximum Units) will be contingent upon the achievement of specified levels of certain performance goals measured over the Performance Period. The
applicable performance goals and the payout factors for each performance goal applicable to your award for the Performance Period are set forth in your Award Letter. 

 

	 	(b)	Within 60 days following the end of the Performance Period, the Committee will determine (i) whether and to what extent the performance goals have been satisfied
for the Performance Period, (ii) the number of Performance Stock Units that shall have become vested under this award, and (iii) whether the other applicable vesting and other conditions for receipt of shares of Common Stock in respect of
the Performance Stock Units have been met. Any of your Performance Stock Units that do not vest in accordance with this Section 3(b) will be forfeited and cancelled. 

 

	4.	Settlement. 

  

	 	(a)	At any time at least six months prior to the end of the Performance Period and so long as the achievement of the applicable performance goals are not yet readily
ascertainable (but in no event later than your separation from service from the Company), you and the Company may agree to postpone the date on which you are entitled to receive one share of Common Stock by issuing you one Restricted Stock Unit for
each vested Performance Stock Unit on the Original Settlement Date, which Restricted Stock Unit shall be paid on such later date as may be elected by you in accordance with Section 409A. 

 

	 	(b)	The Company will settle your vested Performance Stock Units by issuing you one share of Common Stock or one Restricted Stock Unit (RSU) for each vested Performance
Stock Unit on or as soon as practicable (but in no event more than 60 days) following the Original Settlement Date. 

	 	(c)	Once your Performance Stock Units have been settled by delivery to you of an equivalent number of shares of Common Stock or RSUs, the Performance Stock Units will have
no further value, force or effect. 

  

	5.	Voting and Other Shareholder Rights. 

 A Performance Stock Unit is not a share of Common Stock, and thus you are not entitled to any voting, dividend or other rights as a shareholder of the Company with respect to the Performance Stock Units
you hold. 
  

	6.	Suspension Periods and Termination. 

 The Company reserves the right from time to time to temporarily suspend your right to settle your Performance Stock Units for shares of Common Stock where such suspension is deemed by the Company as
necessary or appropriate and to the extent such action does not result in immediate taxation and penalties under Section 409A. 
  

	7.	Consent 

 By
accepting a Performance Stock Unit, you acknowledge that: (i) the Plan is established voluntarily by The Procter & Gamble Company, is discretionary in nature, and may be amended, suspended or terminated at any time; (ii) the award
of Performance Stock Units is voluntary and occasional and does not create any contractual or other right to receive future awards of Performance Stock Units, or benefits in lieu of Performance Stock Units, even if Performance Stock Units have been
awarded repeatedly in the past; (iii) all decisions with respect to future Performance Stock Unit awards, if any, will be at the sole discretion of the Company; (iv) your participation in the Plan is voluntary; (v) Performance Stock
Units are an extraordinary item and not part of normal or expected compensation or salary for any purpose, including without limitation calculating any termination, severance, resignation, redundancy, or end-of-service payments, bonuses,
long-service awards, pension or retirement benefits or similar payments; (vi) in the event that your employer is not the Company, the award of Performance Stock Units will not be interpreted to form an employment relationship with the Company;
and, furthermore, the award of Performance Stock Units will not be interpreted to form an employment contract with any Procter & Gamble entity; (vii) the future value of Common Stock is unknown and cannot be predicted with certainty;
and (viii) no claim or entitlement to compensation or damages arises from termination or forfeiture of Performance Stock Units, or diminution in value of Performance Stock Units or Common Stock received in settlement thereof, and you
irrevocably release Procter & Gamble from any such claim that may arise. 

	8.	Data Privacy. 

 By
accepting a Performance Stock Unit, you explicitly and unambiguously consent to the collection, use and transfer, in electronic or other form, of your personal data as described in this document by and among, as applicable, any Procter &
Gamble entity or third party for the purpose of implementing, administering and managing your participation in the Plan. You understand that Procter & Gamble holds certain personal information about you, including without limitation your
name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares of stock or directorships held in a Procter & Gamble entity, details of all options,
Performance Stock Units, or any other entitlement to shares of stock awarded, canceled, exercised, vested, unvested or outstanding in your favor, for the purpose of implementing, administering and managing the Plan (“Data”). You understand
that Data may be transferred to any third parties assisting in the implementation, administration and management of the Plan, that these recipients may be located in your country or elsewhere, and that the recipient’s country may have different
data privacy laws and protections than your country. You understand that you may request a list with the names and addresses of any potential recipients of Data by contacting your local human resources representative. You authorize the recipients to
receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing your participation in the Plan, including any requisite transfer of such Data to any broker or other third
party with whom you may elect to deposit any shares of Common Stock in connection with the settlement of your Performance Stock Units. You understand that Data will be held only as long as is necessary to implement, administer and manage your
participation in the plan. You understand that you may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data, or refuse or withdraw the consents contained in this
paragraph, in any case without cost, by contacting in writing your local human resources representative. You understand, however, that refusing or withdrawing your consent may affect your ability to participate in the Plan. For more information on
the consequences of your refusal to consent or withdrawal of consent, you understand that you may contact your local human resources representative. 
  

	9.	Notices. 

  

	 	(a)	Any notice to Procter & Gamble that is required or appropriate with respect to Performance Stock Units held by you must be in writing and addressed to:

 The Procter & Gamble Company 

            ATTN: Corporate Secretary’s Office 

            P.O. Box 599 

            Cincinnati, OH 45201 

or such other address as Procter & Gamble may from time to time provide to you in writing. 

 

	 	(b)	Any notice to you that is required or appropriate with respect to Performance Stock Units held or to be awarded to you will be provided to you in written or electronic
form at any physical or electronic mail address for you that is on file with Procter & Gamble. 

	10.	Successors and Assigns. 

These Terms and Conditions are binding on, and inure to the benefit of, (a) the Company and its successors and assigns; and
(b) you and, if applicable, the representative of your estate. 
  

	11.	Governing Law. 

 The
validity, interpretation, performance and enforcement of these Terms and Conditions, the Plan and your Performance Stock Units will be governed by the laws of the State of Ohio, U.S.A. without giving effect to any other jurisdiction’s conflicts
of law principles. With respect to any dispute concerning these Terms and Conditions, the Plan and your Performance Stock Units, you consent to the exclusive jurisdiction of the federal or state courts located in Hamilton County, Ohio, U.S.A.

  

	12.	The Plan. 

 All
Performance Stock Units awarded to you have been awarded under the Plan. Certain provisions of the Plan may have been repeated or emphasized in these Terms and Conditions; however, all terms of the Plan, including but not limited to Article F, apply
to you and your Performance Stock Units whether or not they have been called out in these Terms and Conditions. 
  

	13.	Effect of These Terms and Conditions. 

 These Terms and Conditions and the terms of the Plan, which are incorporated herein by reference, describe the contractual rights awarded to you in the form of Performance Stock Units, and the obligations
imposed on you in connection with those rights. No right exists with respect to Performance Stock Units except as described in these Terms and Conditions and the Plan.

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