Document:

Document

Exhibit 10.99
[***] indicates certain identified information has been excluded because it is both (a) not material and (b) would be competitively harmful if publicly disclosed.
CHANGE ORDER 
Additional O&M Support (COVID-19)
						
	PROJECT NAME:  Corpus Christi Stage 2 Liquefaction Facility

OWNER:  Corpus Christi Liquefaction, LLC

CONTRACTOR:  Bechtel Oil, Gas and Chemicals, Inc.

DATE OF AGREEMENT: December 12, 2017
	CHANGE ORDER NUMBER: 00041

DATE OF CHANGE ORDER: October 02, 2020

			
	

The Agreement between the Parties listed above is changed as follows: (attach additional documentation if necessary) 

1.Pursuant to Article 6.1 of the Agreement (Change Orders Requested by Owner), Parties agree this Change Order includes the following additional O&M support to mitigate the effects of COVID-19.

i.This Change Order includes the additional BHGE operator training sessions when Owner initiated risk mitigation associated with COVID-19 that limited the number of attendances in each training session. This Change Order is based on BHGE providing one (1) additional session for Owner’s O&M personnel.

ii.This Change Order includes Contractor’s supplemental resources in lieu of Owner seconded Operators as agreed in the revised plan documented in Owner Letter No. CCLIQ2-BE-C20-016, dated 7 April 2020.

2.The summary cost breakdown of this Change Order is detailed in Exhibit 1 of this Change Order.

3.The detailed cost breakdown of this Change Order is provided in Exhibit 3 of this Change Order.

4.Schedules C-1 and C-3 (Milestone Payment Schedules) of Attachment C of the Agreement will be amended by including the Milestones listed in Exhibit 2 of this Change Order.
			
	

Adjustment to Contract Price
									
	The original Contract Price was.........................................................................................................................	$	2,360,000,000 	
	Net change by previously authorized Change Orders (00001-00040)...............................................................	$	56,774,972 	
	The Contract Price prior to this Change Order was...........................................................................................	$	2,416,774,972 	
	The Aggregate Equipment Price will be changed by this Change Order in the amount of...............................	$	[***]
	The Aggregate Labor and Skills Price will be changed by this Change Order in the amount of......................	$	[***]
			
	The new Contract Price including this Change Order will be...........................................................................	$	2,416,986,474 	

			
	

Adjustment to Aggregate Equipment Price
									
	The original Aggregate Equipment Price was...................................................................................................	$	[***]
	Net change by previously authorized Change Orders (00001-00040)...............................................................	$	[***]
	The Aggregate Equipment Price prior to this Change Order was......................................................................	$	[***]
	The Aggregate Equipment Price will be changed by this Change Order in the amount of...............................	$	[***]
			
			
	The new Aggregate Equipment Price including this Change Order will be .....................................................	$	[***]

			
	

Adjustment to Aggregate Labor and Skills Price
									
	The original Aggregate Labor and Skills Price was..........................................................................................	$	[***]
	Net change by previously authorized Change Orders (00001-00040)...............................................................	$	[***]
	The Aggregate Labor and Skills Price prior to this Change Order was.............................................................	$	[***]
	The Aggregate Labor and Skills Price will be changed by this Change Order in the amount of......................	$	[***]
			
			
	The new Aggregate Labor and Skills Price including this Change Order will be.............................................	$	[***]

			
	

Adjustment to Aggregate Provisional Sum
									
	The original Aggregate Provisional Sum was....................................................................................................	$	295,549,906 	
	Net change by previously authorized Change Orders (00001-00040)...............................................................	$	(15,701,306)	
	The Aggregate Provisional Sum prior to this Change Order was......................................................................	$	279,848,600 	
	The Aggregate Provisional Sum will be changed by this Change Order in the amount of...............................	$	— 	
			
			
	The new Aggregate Provisional Sum including this Change Order will be......................................................	$	279,848,600 	

Adjustment to dates in Project Schedule

The following dates are modified (list all dates modified; insert N/A if no dates modified): N/A

Adjustment to other Changed Criteria (insert N/A if no changes or impact; attach additional documentation if necessary): N/A

Adjustment to Payment Schedule: Yes. See Exhibit 2 of this Change Order.

Adjustment to Minimum Acceptance Criteria: N/A

Adjustment to Performance Guarantees: N/A

Adjustment to Design Basis: No

Other adjustments to liability or obligation of Contractor or Owner under the Agreement: N/A

Select either A or B:
[A] This Change Order shall constitute a full and final settlement and accord and satisfaction of all effects of the change reflected in this Change Order upon the Changed Criteria and shall be deemed to compensate Contractor fully for such change.  Initials:  
/s/ BT    Contractor  /s/ DC  Owner

[B] This Change Order shall not constitute a full and final settlement and accord and satisfaction of all effects of the change reflected in this Change Order upon the Changed Criteria and shall not be deemed to compensate Contractor fully for such change.  Initials:  ____ Contractor  ____ Owner

Upon execution of this Change Order by Owner and Contractor, the above-referenced change shall become a valid and binding part of the original Agreement without exception or qualification, unless noted in this Change Order.  Except as modified by this and any previously issued Change Orders, all other terms and conditions of the Agreement shall remain in full force and effect.  This Change Order is executed by each of the Parties’ duly authorized representatives. 

									
	/s/ David Craft		/s/ Bhupesh Thakkar
	Owner		Contractor
	David Craft		Bhupesh Thakkar
	Name		Name
	SVP, Engineering and Construction		Cheniere Program Manager
	Title		Title
	October 6, 2020		October 2, 2020
	Date of Signing		Date of Signing

CHANGE ORDER 
Replacement of Owner Spare Parts
						
	PROJECT NAME:  Corpus Christi Stage 2 Liquefaction Facility

OWNER:  Corpus Christi Liquefaction, LLC

CONTRACTOR:  Bechtel Oil, Gas and Chemicals, Inc.

DATE OF AGREEMENT: December 12, 2017
	CHANGE ORDER NUMBER: 00042

DATE OF CHANGE ORDER: December 31, 2020

			
	

The Agreement between the Parties listed above is changed as follows: 

1.Contractor acknowledges that (a) one (1) rotor (identified as “ROTOR, COMPRESSOR; MCL1404 COMPRESSOR; READY TO SHIPPING SPARE; PN: SSO0961662; S/N: NP634994; GE NUOVO PIGNONE”) procured by Contractor for Subproject 3, which is part of compressor number 23C-1511 (“Compressor”), requires repair before it can be incorporated into Subproject 3 (“Original Rotor”), and (b) other parts in the Compressor have incurred damage and will not be incorporated into Subproject 3 (“Damaged Parts”).

2.Contractor states that the repair of the Original Rotor and subsequent installation of the repaired Original Rotor into Subproject 3 may delay the achievement of Substantial Completion. To mitigate this delay, Contractor has requested Owner provide the following capital spare parts from the Stage 1 Liquefaction Facility: (a) one (1) spare rotor (identified as “ROTOR, COMPRESSOR; MCL1404 COMPRESSOR; READY TO SHIPPING SPARE; PN: SSO0961662; S/N: NP4735357; GE NUOVO PIGNONE”) (“Replacement Rotor”), (b) one (1) Gear and Pinon Set, and (c) one (1) balancing drum seal and other various operating spare parts to be installed in the Compressor (subclauses (a), (b), (c) and the operating spare parts together, the “Replacement Parts”).

3.Owner has no obligation to provide the Replacement Parts to Contractor. Notwithstanding the foregoing, Owner agrees to make the Replacement Parts available to Contractor for the purpose of Contractor installing such Replacement Parts into Subproject 3 (in lieu of installing the Original Rotor and Damaged Parts) based on the conditions stated in this Change Order.

4.Contractor shall repair and restore, or cause to be repaired and restored, the Original Rotor to a condition comparable to new and meeting all requirements under the Agreement (including Article 12), or if the Original Rotor cannot be repaired and restored, Contractor shall procure a new rotor meeting all requirements under the Agreement (including Article 12) (“Refurbished or New Rotor”) and shall deliver the Refurbished or New Rotor to a storage location designated by Owner. Contractor shall use commercially reasonable efforts to make such delivery within one hundred twenty (120) Days after the date of this Change Order if the Original Rotor is repaired and restored or within three hundred and sixty five (365) Days after the date of this Change Order if a new rotor is procured (“Rotor Delivery Date”).

a.Promptly after Contractor agrees with BHGE to a refurbishment or procurement plan for the Original Rotor, Contractor shall provide such refurbishment or procurement plan to Owner and shall provide to Owner for its written approval (such approval not to be unreasonably withheld) a milestone-based schedule for the repair and restoration of the Original Rotor or procurement of the new rotor (“Repair or Procurement Milestone Schedule”), which schedule shall (i) be in accordance with such refurbishment or procurement plan as agreed by Contractor and BHGE, and (ii) set forth a number and description of milestones (and corresponding dates) reasonably acceptable to Owner (“Repair or Procurement Milestones”), including a Repair or Procurement Milestone for the delivery of the Refurbished or New Rotor to Owner with a corresponding date of the Rotor Delivery Date. Once approved in writing by Owner (such approval not to be unreasonably withheld), Contractor shall repair and restore, or cause to be repaired and restored, the Original Rotor or procure a new rotor in accordance with such approved Repair or Procurement Milestone Schedule, unless otherwise agreed in writing between David Craft of Owner and Bhupesh Thakkar of Contractor (both acting reasonably). Notwithstanding the foregoing, any written request by Owner Representative to improve upon the Repair or Procurement Milestone Schedule shall be implemented by Contractor using commercially reasonable efforts.

b.Contractor shall provide access to Owner or Owner’s representatives at any location(s) where repair or restoration of the Original Rotor (or procurement of a new rotor) occurs and shall permit Owner or Owner’s representatives to inspect and monitor the progress of any repair or restoration of the Original Rotor or procurement of a new rotor.

c.Without limiting any of Contractor’s reporting obligations under the Agreement (including the submission of Monthly Progress Reports), Contractor shall, every two weeks commencing on the date of this Change Order, provide a written progress report to Owner covering any repair and restoration or procurement services, delivery and activities performed for the Original Rotor (or new rotor) and procurement and delivery of the New or Refurbished Parts (“Biweekly Progress Reports”), which shall be in similar format and content as required for the Monthly Progress Report requirements under Section 8.7 of Attachment A to the Agreement.

5.Contractor shall, for all Replacement Parts provided by Owner (except for the Replacement or New Rotor), procure for Owner equivalent replacement parts in new condition (or if needed, refurbished parts in a condition comparable to new) and meeting all requirements under the Agreement (including Article 12) (“New or Refurbished Parts”) and shall deliver the New or Refurbished Parts to a storage location designated by Owner. Contractor shall use commercially reasonable efforts to make such delivery within one hundred fifty (150) Days after the date of this Change Order (the “New or Refurbished Part Delivery Date”). Contractor shall also provide to Owner a schedule for the procurement and delivery of the New or Refurbished Parts, which schedule shall account for the delivery of all New or Refurbished Parts to Owner on or before the New or Refurbished Part Delivery Date. Once approved in writing by Owner (such approval not be unreasonably withheld), Contractor shall procure and deliver the New or Refurbished Parts in accordance with such approved schedule, unless otherwise agreed in writing between David Craft of Owner and Bhupesh Thakkar of Contractor (both acting reasonably). Notwithstanding the foregoing, any written request by Owner Representative to improve upon such schedule shall be implemented by Contractor, using commercially reasonable efforts. 

6.Contractor shall bear all costs and expenses in relation to repair, restoration, delivery, transportation, installation, uninstallation, removal, return and storage of, or any other services for, the Original Rotor, the Refurbished or New Rotor, the Damaged Parts, the Replacement Parts, the New or Refurbished Parts and Contractor’s performance of its obligations under this Change Order. 

7.In the event Owner sustains a failure of any rotor comparable to the Replacement Rotor or any spare parts comparable to any Replacement Part currently in operation in the Stage 1 Liquefaction Facility prior to Contractor achieving Substantial Completion, Contractor shall return and, if applicable, uninstall, the Replacement Rotor or any other such Replacement Part, as applicable, to Owner for use in the Stage 1 Liquefaction Facility, and Contractor shall not be entitled to any Change Order under the Agreement in connection with the return and, if applicable, the uninstallation, of the Replacement Rotor and other Replacement Parts, including no adjustment to the Guaranteed Substantial Completion Date.

8.THE PARTIES AGREE THAT (I) OWNER PROVIDES AND CONTRACTOR SHALL ACCEPT ALL REPLACEMENT PARTS “AS-IS” WITH ANY AND ALL DEFECTS (IF ANY), INCLUDING LATENT DEFECTS; (II) ANY USE OF ANY REPLACEMENT PARTS BY CONTRACTOR, INCLUDING CONTRACTOR’S INCORPORATION OF ANY REPLACEMENT PARTS INTO SUBPROJECT 3, SHALL BE AT CONTRACTOR’S SOLE RISK AND SHALL NOT RELIEVE CONTRACTOR OF ANY OF ITS OBLIGATIONS UNDER THE AGREEMENT (INCLUDING ACHIEVING THE GUARANTEED SUBSTANTIAL COMPLETION DATE, THE MAC AND PERFORMANCE GUARANTEE IN ACCORDANCE WITH THE AGREEMENT); AND (III) OWNER HEREBY DISCLAIMS ANY AND ALL WARRANTIES RELATING TO ALL REPLACEMENT PARTS, INCLUDING THE IMPLIED WARRANTY OF MERCHANTABILITY AND IMPLIED WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE. After installation of any Replacement Parts into the Stage 2 Liquefaction Facility, Article 12 of the Agreement (including the warranty obligations) shall apply to the Replacement Parts as if the Replacement Parts were provided by Contractor under the Agreement.
			
	

Adjustment to Contract Price
									
	The original Contract Price was.........................................................................................................................	$	2,360,000,000 	
	Net change by previously authorized Change Orders (00001-00041)...............................................................	$	56,986,474 	
	The Contract Price prior to this Change Order was...........................................................................................	$	2,416,986,474 	
	The Aggregate Equipment Price will be changed by this Change Order in the amount of...............................	$	[***]
	The Aggregate Labor and Skills Price will be changed by this Change Order in the amount of......................	$	[***]
			
	The new Contract Price including this Change Order will be...........................................................................	$	2,416,986,474 	

			
	

Adjustment to Aggregate Equipment Price
									
	The original Aggregate Equipment Price was...................................................................................................	$	[***]
	Net change by previously authorized Change Orders (00001-00041)...............................................................	$	[***]
	The Aggregate Equipment Price prior to this Change Order was......................................................................	$	[***]
	The Aggregate Equipment Price will be changed by this Change Order in the amount of...............................	$	[***]
			
			
	The new Aggregate Equipment Price including this Change Order will be .....................................................	$	[***]

			
	

Adjustment to Aggregate Labor and Skills Price
									
	The original Aggregate Labor and Skills Price  was..........................................................................................	$	[***]
	Net change by previously authorized Change Orders (00001-00041)...............................................................	$	[***]
	The Aggregate Labor and Skills Price prior to this Change Order was.............................................................	$	[***]
	The Aggregate Labor and Skills Price will be changed by this Change Order in the amount of......................	$	[***]
			
			
	The new Aggregate Labor and Skills Price including this Change Order will be.............................................	$	[***]

			
	

Adjustment to Aggregate Provisional Sum
									
	The original Aggregate Provisional Sum was....................................................................................................	$	295,549,906 	
	Net change by previously authorized Change Orders (00001-00041)...............................................................	$	(15,701,306)	
	The Aggregate Provisional Sum prior to this Change Order was......................................................................	$	279,848,600 	
	The Aggregate Provisional Sum will be changed by this Change Order in the amount of...............................	$	— 	
			
			
	The new Aggregate Provisional Sum including this Change Order will be......................................................	$	279,848,600 	

Adjustment to dates in Project Schedule

The following dates are modified (list all dates modified; insert N/A if no dates modified): N/A

Adjustment to other Changed Criteria (insert N/A if no changes or impact)

Adjustment to Payment Schedule: N/A

Adjustment to Minimum Acceptance Criteria: N/A

Adjustment to Performance Guarantees: N/A

Adjustment to Design Basis: N/A

Other adjustments to liability or obligation of Contractor or Owner under the Agreement: N/A

Select either A or B:
[A] This Change Order shall constitute a full and final settlement and accord and satisfaction of all effects of the change reflected in this Change Order upon the Changed Criteria and shall be deemed to compensate Contractor fully for such change.  Initials:  /s/ BT    Contractor  /s/ DC  Owner

[B] This Change Order shall not constitute a full and final settlement and accord and satisfaction of all effects of the change reflected in this Change Order upon the Changed Criteria and shall not be deemed to compensate Contractor fully for such change.  Initials:  ____ Contractor  ____ Owner

Upon execution of this Change Order by Owner and Contractor, the above-referenced change shall become a valid and binding part of the original Agreement without exception or qualification, unless noted in this Change Order.  Except as modified by this and any previously issued Change Orders, all other terms and conditions of the Agreement shall remain in full force and effect.  This Change Order is executed by each of the Parties’ duly authorized representatives. 

									
	/s/ David Craft		/s/ Michael Dorris
	Owner		Contractor
	David Craft		Micahel Dorris
	Name		Name
	SVP, E&C		Senior Project Manager
	Title		Title
	December 31, 2020		December 31, 2020
	Date of Signing		Date of SigningDocument

Exhibit 10.8
Ally Financial Inc.

Ally Financial Inc.
500 Woodward Avenue, MC : MI-01-10-HR Detroit, MI 48226

<DATE>

<NAME>

Ally Financial Inc. Incentive Compensation Plan – Performance Stock Unit Award

Dear <FIRST NAME>:

1.You have been granted an Award under the Ally Financial Inc. Incentive Compensation Plan (the “Plan”).  A copy of the Plan is included on the Shareworks website or such other website as may be designated by the Company. Capitalized terms not defined in this Award Agreement will have the meaning set forth in the Plan.

2.Your Award is granted to you as a matter of separate inducement and is not in lieu of salary or other compensation for your services. By accepting this Award, you consent to any and all Plan amendments, vesting restrictions, and revisions to any other term or condition of this Award Agreement that may be required to comply with federal law or regulation governing compensation, whether such amendments, restrictions, or revisions are applied prospectively or retroactively to this or prior Awards. By accepting this Award, you also acknowledge and agree that it is subject to all of the requirements set forth in the Enterprise Compensation Policy and that you are subject to all of the restrictive covenants set forth in Section 13 of the Plan (i.e., non-solicit, confidentiality, non-disparagement).

3.Your Award is initially being made in the form of Performance Stock Units (“PSUs”). Your Award will vest on the following vesting schedule: 100% on the third anniversary of the Grant Date (the “Vesting Date”), subject to your continued employment with the Company or one of its Affiliates through the Vesting Date (or as otherwise set forth herein or in the Plan); provided, that the actual number of PSUs vesting (such number of PSUs to be within a range of 0% to 150% of the number of Target PSUs (as defined below)) (the “Adjusted PSUs”) will be determined based on the achievement of the Performance Metrics (as defined in Exhibit A attached hereto) during the Performance Period (as defined below). For purposes of this Award Agreement, the “Performance Period” means the period commencing on January 1, 2021 and ending on December 31, 2023.  Notwithstanding the conclusion of the Performance Period, your Adjusted PSUs will remain subject to your continued employment with the Company and its Affiliates through the Vesting Date and will be forfeited and cancelled if you do not remain employed with the Company and its Affiliates through the Vesting Date, except as otherwise explicitly provided below.

Grant Date: «Date»
Number of Target PSUs Granted: «Total_Shares» (“Target PSUs”)

4.This Award Agreement will become effective after you have electronically accepted it via the Shareworks website or such other website as may be designated by the Company. If you do not accept this Award Agreement within 45 days of notification, you will be deemed to have rejected the Award and this Award Agreement will be null and void and without any further force or effect. 

5.The Plan provides the Company with discretion to determine whether your Adjusted PSUs will be settled in in the form of cash, Shares, other Awards, other property, net settlement, or any combination thereof. It is 

Exhibit 10.8
Ally Financial Inc.

currently the Company’s intention that your Adjusted PSUs will be settled in cash, and your Adjusted PSUs may, at the discretion of the Company, be converted into the right to receive a cash amount equal to Fair Market Value of the Shares underlying your Adjusted PSUs at the time of conversion. Subject to requirements of any federal laws or regulations and Company policies that govern compensation (see paragraph 2 above), and subject to the terms of the Plan and this Agreement, the Company will deliver cash (or, if applicable, the Shares or other property) earned with respect to the Adjusted PSUs promptly following the Vesting Date, in accordance with paragraph 3 above. It is also currently the Company’s intention to settle in cash the PSUs awarded to you in 2019 and 2020, and the Company may, in its discretion, convert those Awards into the right to receive a cash amount in the same way as it may do for the PSUs subject to this Award Agreement.  You acknowledge and agree to this change in treatment.

6.If on the Grant Date you are considered a material risk taker (“MRT”), in connection with regulatory guidance and in support of its corporate governance principles, to the extent that any portion of the Award remains unpaid, the Company reserves the right to adjust downward the amount of this Award without your consent to reflect adverse outcomes attributable to inappropriate, excessive, or imprudent risk taking in which you participated and which was the basis for this Award. Your Award is also subject to cancellation, recovery, forfeiture, or repayment consistent with the Company’s recoupment policy contained in the Enterprise Compensation Policy.

7.Sections 11 and 12 of the Plan provide for the treatment of Awards in the event of a Termination of Service or Change in Control; provided, however:

     If you experience a Termination of Service without Cause by the Company or a Qualifying Termination (whether as a result of a Sale of your Business Unit or otherwise), in each case, other than in connection with a Change in Control, your unvested PSUs will become vested on the date of such Termination of Service and your Award will continue to be earned in accordance with paragraph 3 of this Award Agreement based on the achievement of the Performance Metrics (even though you are not employed by the Company or one of its Affiliates on the Vesting Date) and will be settled as of the Vesting Date in accordance with paragraph 5 above; provided, however, that, if the number of Shares underlying the Adjusted PSUs exceeds the number of Shares underlying the Target PSUs but for this proviso (the number of such excess Shares, the “Above Target Shares”), then the number of Above Target Shares earned and vested as of the Vesting Date will be determined by multiplying (a) the number of Above Target Shares by (b) a fraction, (i) the numerator of which is the number of calendar days during the Performance Period prior the date your termination of employment and (ii) the denominator of which is the number of calendar days during the Performance Period and any PSUs or Shares under this Award in excess of this amount will be forfeited and cancelled.

8.If the Company pays a dividend on Shares prior to the Vesting Date, you will be entitled to a dividend equivalent payment in the same amount as the dividend you would have received if you held the number of Shares, if any, as earned and vested as of the Vesting Date. These dividends will vest and be paid to you on the Settlement Date (or such other vesting and settlement date applicable under paragraph 7 (above), subject to the vesting of your Award. No dividends or dividend equivalents will be paid to you with respect to any portion of your Award that is canceled or forfeited. The Company will decide on the form of payment and may pay dividends or dividend equivalents in Shares, in cash or in a combination thereof, subject to applicable law.  

9.You will have no voting rights with respect to the Shares underlying your Award unless and until you become the record owner of the Shares underlying your Award.

10.You may designate a beneficiary using the Shareworks website or such other website as may be designated by the Company. If no beneficiary is designated, or if the Company determines that the beneficiary designation is unclear or that the designated beneficiary cannot be located, any settlement as a result of your death will be made to your estate. The Shareworks website or such other website as may be designated by the Company may also be used for any subsequent change in your beneficiary designation.

Exhibit 10.8
Ally Financial Inc.

11.The restrictions in Section 13(a) of the Plan on your ability to solicit any Company client, customer, or employee for 24 months following your Termination of Service is grounded in the Company’s significant investment of time, effort, and expense in establishing client, customer, and employee relationships across the Company’s lines of business. As this applies to you, the scope of the restriction on your ability to solicit Company clients or customers will run commensurate with the scope of your responsibilities while employed by the Company. That is, the terms “client or customer” as used in Section 13(a) (i.e., “(i) solicit any client or customer of the Company or any Affiliate with respect to a Competitive Activity”) will  mean those clients or customers (whether current or prospective): (i) with whom you had direct or indirect personal contact within the last 12 months of your employment with the Company or any Affiliate; or (ii) about whom you learned confidential or proprietary information (including trade secrets) by virtue of your employment with the Company or any Affiliate during the last 12 months of your employment. The term “solicit” also will include any communication or other interaction between you and a client or customer (whether current or prospective) that takes place to make sales to, perform services for, or otherwise further the business relationship with that client or customer (whether current or prospective). Notwithstanding Section 21 of the Plan, Section 13(a) is governed by Michigan law without regard to its conflict of laws provision. An action to enforce or seek damages for breach of Section 13(a) may only be brought in a federal or state court of competent jurisdiction in Michigan.

12.By accepting this Award, you understand and acknowledge that your Award is subject to the rules under Internal Revenue Code Section 409A and Section 19 of the Plan, and agree and accept all risks (including increased taxes and penalties) resulting from Internal Revenue Code Section 409A.

13.Except as prohibited by any federal law or regulation that governs compensation, see paragraph 2 above, your Award is subject to and governed by the terms and conditions of this Award Agreement and the Plan.  

14.By accepting this Award, as evidenced by your signature below, you agree to abide by the terms and conditions of this Award Agreement and the Plan.

                                Sincerely yours,
                

                                      Kathleen Patterson    
                                Chief HR Officer
                                <DATE>

I HAVE READ THE PLAN DOCUMENT AND THIS AWARD AGREEMENT AND I ACCEPT THE AWARD REFERENCED ABOVE SUBJECT TO THE TERMS AND CONDITIONS OF THIS AWARD AGREEMENT AND THE ALLY FINANCIAL INC. INCENTIVE COMPENSATION PLAN. 

															
	
		
	Participant Signature (Required)		Date (Required)
					
					
	Last Four Digits of SSN or National ID (Required)		

Exhibit 10.8
Ally Financial Inc.

EXHIBIT A
PERFORMANCE METRICS
The number of Adjusted PSUs will be based on the Company’s achievement during the Performance Period of the Core ROTCE and TSV (each as defined below) performance metrics (collectively, the “Performance Metrics”), determined in accordance with the following formula:
																					
	Number of Target PSUs	x	Core ROTCE Adjustment Percentage	x	50%	=	Number of Core ROTCE Adjusted PSUs

																					
	Number of Target PSUs	x	TSV
Adjustment Percentage	x	50%	=	Number of TSV Adjusted PSUs

															
	Number of Core ROTCE Adjusted PSUs	+	Number of TSV Adjusted PSUs	=	Number of Adjusted PSUs

The “ROTCE Adjustment Percentage” and the “TSV Adjustment Percentage” will each be derived as set forth in the tables below and any fractional Shares resulting from the application of the ROTCE Adjustment Percentage or TSV Adjustment Percentage, as applicable, will be rounded up.
															
	Core ROTCE		TSV
	3-Year Average Annual Core ROTCE Achievement Level
(%)	ROTCE Adjustment Percentage
(%)		3-Year Average Annual TSV Achievement Level
(%)	TSV Adjustment Percentage
(%)
	>17.0	150		>18.0	150
	15.0	125		15.0	125
	13.0	100		12.0	100
	11.0	75		9.0	75
	9.0	50		6.0	50
	<9.0	0		<6.0	0

The Core ROTCE Adjustment Percentage and TSV Adjustment Percentage between each of the indicated achievement levels will be determined by straight line interpolation.  The below listed definitions will apply for purposes of this Award Agreement.
“Annual Core ROTCE” means (i) Core Net Income Available to Common divided by (ii) Normalized Common Equity. 
a.“Core Net Income Available to Common” means: (i) pre-tax income from continuing operations, minus (ii) income tax expense, plus (iii) expense associated with original issue bond discount amortization (net of tax), minus (d) preferred dividends, plus (e) the impact of any disclosed repositioning items (net of tax). 
b.“Normalized Common Equity” means the three-period average of: (i) shareholder equity, minus (ii) book value of preferred stock outstanding, minus (iii) goodwill and other intangibles, minus (iv) remaining original issue bond discount, minus (v) remaining net deferred tax asset.
“Annual Total Shareholder Value” or “Annual TSV” means the sum of (i) the annual growth in Adjusted Tangible Book Value Per Share, expressed as a percentage relative to the prior fiscal year, and (ii) Dividend Contribution Per Share.

Exhibit 10.8
Ally Financial Inc.

a.“Adjusted Tangible Book Value Per Share” means (i) Adjusted Tangible Book Value divided by (ii) End of Period Shares Outstanding.                   
i.“Adjusted Tangible Book Value” means: (i) shareholder equity, minus (ii) book value of preferred stock outstanding, minus (iii) goodwill and other intangibles, minus (iv) remaining original issue bond discount (net of tax).
ii.“End of Period Shares Outstanding” means the number of common shares (Shares) outstanding at the end of the relevant fiscal year. 
b.“Dividend Contribution Per Share” means an amount, expressed as a percentage, equal to (i) the Total Annual Dividend Payout per share divided by (ii) Average Adjusted Tangible Book Value Per Share.
i.“Total Annual Dividend Payout Per Share” means (i) total dollars paid for dividends on Shares in the fiscal year divided by (ii) End of Period Shares Outstanding
ii.“Average Adjusted Tangible Book Value Per Share” means the average of Adjusted Tangible Book Value Per Share for the fiscal year and Adjusted Tangible Book Value Per Share for the prior year.
The goals in setting target levels for Core ROTCE and TSV are to align the interests of management with those of the Company’s shareholders, to incent forward-looking and sustained performance, and to drive balanced risk-taking. The Company and its shareholders would not be well served by rewarding or penalizing management for items that impact ROTCE or TSV but that would not further the achievement of these goals. As a result, for purposes of calculating ROTCE and TSV for a fiscal year, each of the following items will be excluded to the extent such item is material and was not taken into account in establishing the target levels:
(i)litigation and regulatory judgments, charges or settlements and any accruals or reserves relating to litigation or regulatory matters;
(ii)the effect of changes in law applicable to the Company which will be measured based on the effect of the changes on revenue, income, assets and liabilities demonstrably caused by such changes in law; 
(iii)the effect of changes in accounting principles, including any related accounting restatements; 
(iv)income, expenses, gains or losses from discontinued operations;
(v)the charges and other costs and balance sheet impacts associated with any acquisition, divestiture, restructuring or pre-payment or other early retirement of outstanding debt, and, in the case of an acquisition, any income or loss associated with the acquired business or assets during the performance window;
(vi)any items that are categorized as unusual in nature or infrequently occurring within the meaning of GAAP; and
(vii)any charges and other costs associated with wars, terrorism, geopolitical incidents, natural disasters, pandemics, or similar conditions or events. 
Adjustments for these excluded items will be made in a manner so that participants are neither penalized nor rewarded for these items. Adjustments for these excluded items will be applied formulaically consistent with principles historically applied and in a manner that will not trigger a modification or new measurement date with respect to any award under GAAP.
The Compensation, Nominating and Governance Committee of the Board of Directors of the Company will have sole and exclusive authority and discretion to make all determinations and resolve all ambiguities, questions and disputes relating to the calculation of Core ROTCE and TSV and the level of earning and vesting of this Award.

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