Document:

bll_Ex10_12

		

			Exhibit 10.12

		

		

			 

		

		
			Ball Corporation
		

		
			 
		

		
			 
		

		
			Long-Term Cash
		

		
			Incentive Plan
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			
		

		
			 
		

		
			 
		

		
			Amended and Restated on April 26, 2016.
		

		
			 
		

		
			Effective for new Awards beginning on or after April 26, 2016 and for new Performance Cycles beginning on or after January 1, 2017.
		

		
			 
		

		
			 
		

		
			 
		

		
			

		 

 

		

			Exhibit 10.12 (Continued)

		

		

		
			Table of Contents
		

		
			 
		

			
					
						1.      Purpose

					
1
				
	
					
						2.      Definitions

					
1
				
	
					
						2.1     Award

					
1
				
	
					
						2.2     Committee

					
1
				
	
					
						2.3     Company

					
1
				
	
					
						2.4     Effective Date

					
1
				
	
					
						2.5     GICS

					
1
				
	
					
						2.6     Invested Capital

					
1
				
	
					
						2.7     NOPAT–Net Operating Profits After Tax

					
1
				
	
					
						2.8     Participant

					
1
				
	
					
						2.9     Performance Cycle

					
1
				
	
					
						2.10   Plan

					
1
				
	
					
						2.11   Return on Average Investment Capital

					
1
				
	
					
						2.12   Retirement

					
1
				
	
					
						2.13   Target Long-Term Cash Compensation

					
2
				
	
					
						2.14   Total Shareholder Return

					
2
				
	
					
						3.      Calculation of Performance Measures and Awards

					
2
				
	
					
						3.1     ROAIC Component

					
2
				
	
					
						3.2     Comparative Total Shareholder Return Component

					
2
				
	
					
						4.      Form and Timing of Payment

					
3
				
	
					
						5.      Miscellaneous

					
3
				
	
					
						5.1     Administration of the Plan

					
3
				
	
					
						5.2     Amendment and Termination of the Plan

					
3
				
	
					
						5.3     Applicable Law

					
3
				
	
					
						5.4     Beneficiary Designation for Termination by Death

					
3
				
	
					
						5.5     Captions

					
3
				
	
					
						5.6     Gender, Singular and Plural

					
3
				
	
					
						5.7     Merger, Consolidation or Acquisition

					
4
				
	
					
						5.8     Non-Alienation of Benefits

					
4
				
	
					
						5.9     No Right to Continued Employment or Participation

					
4
				
	
					
						5.10   Termination of Employment Due to Death, Disability or Retirement

					
4
				
	
					
						5.11   Termination of Employment for Reasons Other Than Death, Disability or Retirement

					
4
				
	
					
						5.12   Validity

					
4
				

		
			 
		

		
			 
		

		
			 
		

		
			

		 

		

			 

		

 

		

			Exhibit 10.12 (Continued)

		

		

			 

		

		

		
			Long-Term Cash Incentive Plan (LTCIP)
		

		
			1.         Purpose
		

		
			The purpose of the Plan is to advance the interests of the Company by providing a long-term financial incentive to selected key executives who contribute and are expected to continue to contribute materially to the success of the Company through their leadership skills, vision and dedication.
		

		
			2.         Definitions
		

		
			2.1       “Award” means the incentive earned by a Participant under the terms of the Plan during a Performance Cycle.
		

		
			2.2       “Committee” means the Human Resources Committee of the Board of Directors of Ball Corporation.
		

		
			2.3       “Company” means Ball Corporation and its subsidiaries.
		

		
			2.5       “Effective Date” for this amended and restated Plan is April 26, 2016.
		

		
			2.5       “GICS” means the S&P Global Industry Classification Standards.
		

		
			2.6       “Invested Capital”  means the Monthly Average Invested Capital, defined as total operating assets excluding financial assets less total operating liabilities excluding financial liabilities, calculated as the total for each of the year’s twelve months, divided by 12.
		

		
			2.7       “NOPAT” means the net operating income before financing costs, reduced by income taxes charged at the year’s effective tax rate.
		

		
			2.8       “Participation”  means an executive who has been selected for participation in the Plan by management. Participation is discretionary and is not a contractual right. Participation is determined on a year-by-year basis and participation in one Performance Cycle does not imply continued participation in subsequent Performance Cycles. Participants will be notified regarding their Participation Level in each Performance Cycle.
		

		
			2.9       “Performance Cycle” means a period of three consecutive calendar years that comprises a single performance measurement period.  Performance Cycles overlap as illustrated:
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Year 1

					
					
						Year 2

					
					
						Year 3

					
					
						Year 4

					
					
						Year 5

					
					
						Etc.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						1/1/yr1

					
					
						(Cycle 1)

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						1/1/yr 2

					
					
						(Cycle 2)

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						1/1/yr 3

					
					
						(Cycle 3)

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						

					
					
						 

				

		
			 
		

		
			2.10     “Plan” means this Amended and Restated Long-Term Cash Incentive Plan as set forth in this document and as amended from time to time.
		

		
			2.11     “ROAIC” means Return on Average Invested Capital.
		

		
			
		

		
			

		 

		

			1

		

 

		

			Exhibit 10.12 (Continued)

		

		

			 

		

		

		
			2.12     “Retirement” means termination of employment by a participant for whatever reason other than death or disability after attainment of age and service years which, when combined, equals or exceeds seventy (70), subject to a minimum age of fifty-five (55). This definition of Retirement is  subject to any existing or additional statutory requirements or prescribed definition of retirement as set forth by local laws in jurisdictions where the Plan is to be implemented and which would take precedence.
		

		
			2.13     “Target Long-Term Cash Compensation” means the cash amount available to a participant for a specific Performance Cycle as established by the Committee.  This cash amount is used in the Award calculations during such Performance Cycle.
		

		
			2.14     “Total Shareholder Return”  means the change in share price plus dividends during a Performance Cycle.
		

		
			3.         Calculation of Performance Measures and Awards
		

		
			Performance is measured and awards are calculated based on two independent components.   Each component will account for one-half of the Participation level.
		

		
			3.1       ROAIC Component
		

		
			Awards for this component are based upon ROAIC.  ROAIC is calculated by dividing the average of Net Operating Profits After Tax or “NOPAT” over a Performance Cycle by the average of the “Invested Capital” over a Performance Cycle.  The performance requirements are as follows:
		

		
			Minimum - 7% ROAIC
		

		
			Target - 9% ROAIC
		

		
			Maximum - 11% ROAIC
		

		
			Awards for performance between the minimum, target and maximum requirements will be prorated.
		

		
			A Participant’s Award for this component for a Performance Cycle is calculated by multiplying the Participant’s  Target Long-Term Cash Compensation for that Performance Cycle by 50%, which is then adjusted for actual performance using the requirements above.
		

		
			3.2       Comparative Total Shareholder Return Component
		

		
			Awards for this component are based upon Total Shareholder Return for a Performance Cycle measured by comparing the average daily closing stock price and dividends of the Company in the third year of the Performance Cycle with the average daily closing stock price and dividends in the year prior to the start of the Performance Cycle compared to the distribution of the Total Shareholder Returns during the Performance Cycle for each of the companies comprising the GICS.  The performance requirements are as follows:
		

		
			Minimum - the 37.5th percentile of the GICS
		

		
			Target - the 50th percentile of the GICS
		

		
			Maximum - the 75th percentile of the GICS
		

		
			
		

		
			

		 

		

			2

		

 

		

			Exhibit 10.12 (Continued)

		

		

			 

		

		

		
			Awards for performance between the minimum, target and maximum requirements will be prorated.
		

		
			A Participant’s Award for this component for a Performance Cycle is calculated by multiplying the Participant’s  Target Long-Term Cash Compensation for that Performance Cycle by 50%, which is then adjusted for actual performance using the requirements above.
		

		
			4.         Form and Timing of Payment
		

		
			The Awards will be made in cash as soon as practicable after the close of a Performance Cycle, but no later than March 15 of the year following the close of such Performance Cycle.
		

		
			5.         Miscellaneous
		

		
			5.1       Administration of the Plan - The Committee shall be the sole administrator of the Plan.  The Committee shall have full power to formulate additional details and regulations for carrying out this Plan.  The Committee shall also be empowered to make any and all of the determinations not herein specifically authorized which may be necessary or desirable for the effective administration of the Plan.  Any decision or interpretation of any provision of this Plan adopted by the Committee shall be final and conclusive.
		

		
			5.2       Amendment and Termination of the Plan - The Company retains the right to terminate or amend the Plan, but only with respect to Performance Cycles not yet begun.
		

		
			5.3       Applicable Law - This plan shall be governed and construed in accordance with the laws of the State of Indiana, or, if not possible, in accordance with applicable local laws.
		

		
			5.4       Beneficiary Designation for Termination by Death - A Participant may designate a beneficiary or beneficiaries who, upon the Participant’s death, are to receive the amounts that otherwise would have been paid to the Participant.  All designations shall be in writing and signed by the Participant.  The designation shall be effective only if and when delivered to the Company during the lifetime of the Participant.  The Participant may change beneficiary or beneficiaries with a signed, written instrument delivered to the Company.  Payouts shall be in accordance with the last unrevoked written designation of beneficiary that has been signed and delivered to the Company’s  Executive Compensation Department, or its designated Plan administrator. In locations where there is a mandatory line of succession, payment will be made in accordance with local law.
		

		
			5.5       Captions - The captions to the articles, sections, and paragraphs of this Plan are for convenience only and shall not control or affect the meaning or construction of any of its provisions.
		

		
			5.6       Gender, Singular and Plural - All pronouns and any variation thereof shall be deemed to refer to the masculine and feminine gender as the identity of the person or persons may require.  As the context may require, the singular may be read as the plural and the plural as the singular.
		

		
			
		

		
			

		 

		

			3

		

 

		

			Exhibit 10.12 (Continued)

		

		

			 

		

		

		
			5.7       Merger, Consolidation or Acquisition - In the event of a merger, consolidation or acquisition such that the Company is not the surviving corporation, Awards will become immediately payable based on the performance achieved as of the end of the most recently completed calendar year for each Performance Cycle to which the grant of Award opportunities has occurred at least six months previously.
		

		
			5.8       Non-Alienation of Benefits - Neither the Participant nor any designated beneficiary under the Plan shall have the power to transfer, assign, anticipate, hypothecate, or otherwise encumber in advance any of the benefits payable hereunder, nor shall said benefits be subject to seizure for the payment of any debts or judgments or be transferable by operation of law in the event of bankruptcy, insolvency or otherwise.
		

		
			5.9       No Right to Continued Employment or Participation  - Nothing contained in this Plan, nor any action taken hereunder, shall be construed as a contract of employment or as giving any eligible employee, Participant or former Participant any right to be retained in the employ of the Employer.  Participation is discretionary and is not a contractual right. Participation is determined on a year-by-year basis and participation in one Performance Cycle does not imply continued participation in subsequent Performance Cycles. 
		

		
			5.10     Termination of Employment Due to Death, Disability or Retirement - If death, disability or Retirement occurs prior to the end of one or more Performance Cycles in which an executive was a Participant, the Participant’s Award for each such Performance Cycle will be calculated as provided in Section 3, then prorated by multiplying by a fraction the numerator of which shall be the number of days of employment actually served during the Performance Cycle, and the denominator of which shall be the total number of days in the Performance Cycle,  and paid in accordance with Section 4. Any Participant whose employment terminates for cause, or any reason other than as set forth in this section, shall not be eligible to receive any Awards.
		

		
			5.11     Termination of Employment for Reasons Other Than Death, Disability or Retirement - A Participant shall not be entitled to any Award or payout with respect to any incomplete Performance Cycle, unless such termination is by reason of death, disability or Retirement.
		

		
			5.12     Validity - In the event any provision of this Plan is held invalid, void, or unenforceable, the same shall not affect, in any respect whatsoever, the validity of any other provision of this Plan.
		

		 

		

			4bll_Ex10_15

		

			Exhibit 10.15

		

		

			 

		

		
			Ball Corporation
		

		
			 
		

		
			Deposit Share Program
		

		
			 
		

		
			 
		

		
			for United States Participants
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			Confidential
		

		
			 
		

		
			 
		

		
			 
		

		
			

		 

		

			 

		

		

			Effective Date March 7, 2001

		

		

			Amended and Restated July 27, 2016

		

 

		

			Exhibit 10.15 (Continued)

		

		

			 

		

		

		
			Table of Contents
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						1.     Purpose

					
					
						1

				
	
					
						2.     Definitions

					
					
						1

				
	
					
						2.1     Award Date

					
					
						1

				
	
					
						2.2     Award Letter

					
					
						1

				
	
					
						2.3     Acquisition Period

					
					
						1

				
	
					
						2.4     Change in Control

					
					
						1

				
	
					
						2.5     Cliff Lapse

					
					
						1

				
	
					
						2.6     Committee

					
					
						1

				
	
					
						2.7     Disability

					
					
						1

				
	
					
						2.8     Effective Date

					
					
						1

				
	
					
						2.9     Grant Date

					
					
						1

				
	
					
						2.10   Holding Period

					
					
						1

				
	
					
						2.11   Newly Acquired Shares

					
					
						2

				
	
					
						2.12   Participant

					
					
						2

				
	
					
						2.13   Program

					
					
						2

				
	
					
						2.14   Restricted Stock Units (“RSUs”)

					
					
						2

				
	
					
						2.15   Retirement

					
					
						2

				
	
					
						3.     RSU Grant

					
					
						2

				
	
					
						3.1     Form of Grant

					
					
						2

				
	
					
						3.2     Minimum Number of Newly Acquired Shares

					
					
						2

				
	
					
						3.3     Granting of RSUs

					
					
						3

				
	
					
						4.     Holding Period for the Newly Acquired Shares

					
					
						3

				
	
					
						5.     Lapse of Restrictions

					
					
						3

				
	
					
						5.1     Cliff Lapse

					
					
						3

				
	
					
						5.2     Accelerated Lapse Rate

					
					
						3

				
	
					
						6.     Additional Cash Payment

					
					
						3

				
	
					
						7.     Retirement, Disability or Death

					
					
						3

				
	
					
						7.1     Retirement

					
					
						3

				
	
					
						7.2     Disability or Death

					
					
						4

				
	
					
						8.     Forfeiture

					
					
						4

				
	
					
						9.     Defer Release of RSUs

					
					
						4

				
	
					
						10.     Miscellaneous

					
					
						4

				
	
					
						10.1   Administration of the Program

					
					
						4

				
	
					
						10.2   Amendment and Termination of Program

					
					
						5

				
	
					
						10.3   Successors and Mergers, Consolidations, or Change in Control

					
					
						5

				
	
					
						10.4   Recoupment of Awards Resulting from Fraud or Intentional Misconduct

					
					
						5

				
	
					
						10.5   Employment or Future Eligibility to Participate Not Guaranteed

					
					
						5

				
	
					
						10.6   Gender, Singular or Plural

					
					
						6

				
	
					
						10.7   Captions

					
					
						6

				
	
					
						10.8   Applicable Law

					
					
						6

				
	
					
						10.9   Validity

					
					
						6

				

		
			 
		

		
			 
		

		
			 
		

		
			

		 

		

			 

		

		

			Effective Date March 7, 2001

		

		

			Amended and Restated July 27, 2016

		

 

		

			Exhibit 10.15 (Continued)

		

		

			 

		

		

		
			Deposit Share Program  (“Program”)
		

		
			 
		

		
			1.         Purpose
		

		
			 
		

		
			To encourage key executives to acquire a larger equity ownership interest in the Corporation to further align the personal interests of the Participants with the interests of the shareholders of the Corporation, in order to promote share price growth and enhancement of shareholder value.
		

		
			 
		

		
			2.         Definitions
		

		
			 
		

		
			2.1       Award Date means the actual date the Participant is given the opportunity to purchase Newly Acquired Shares pursuant to the Program.
		

		
			 
		

		
			2.2       Award Letter means the document notifying the Participant of his/her participation in the Program along with specific terms related to such participation.
		

		
			 
		

		
			2.3       Acquisition Period means the time period during which the Participant may acquire shares pursuant to this Program.
		

		
			 
		

		
			2.4       Change  in Control means “Change in Control” as defined in the Ball Corporation 2013 Stock and Cash Incentive Plan or its successor.
		

		
			 
		

		
			2.5       Cliff Lapse means restrictions lapse at one time on the date established on the date of grant of Restricted Stock Units under the Program.
		

		
			 
		

		
			2.6       Committee means the Human Resources Committee of the Board of Directors of Ball Corporation.
		

		
			 
		

		
			2.7       Disability means a bodily injury or disease that totally and continuously prevents the Participant, for a period as defined in the Corporation’s applicable policies, from engaging in the Participant’s regular occupation.
		

		
			 
		

		
			2.8       Effective Date means July 27, 2016, which is the effective date of the Amended and Restated Deposit Share Program.
		

		
			 
		

		
			2.9       Grant Date means the actual date the Restricted Stock Units are granted pursuant to this Program.
		

		
			 
		

		
			2.10     Holding Period means the time period during which a Participant is required to retain Newly Acquired Shares in order to have the restrictions lapse on Restricted Stock Units.
		

		
			
		

		
			

		 

		

			Page 1

		

		

			Effective Date March 7, 2001

		

		

			Amended and Restated July 27, 2016

		

		

			 

		

 

		

			Exhibit 10.15 (Continued)

		

		

			 

		

		

		
			2.11     Newly Acquired Shares means Ball Corporation Common Stock acquired during the Acquisition Period, including shares acquired via market purchase, stock option / stock appreciation right exercise or units acquired through the deferral of economic value added incentive compensation to the Ball Corporation 2005 Deferred Compensation Company Stock Plan.  It does not include Ball Corporation Common Stock obtained via a restricted stock unit grant or vesting that is unrelated to this Program,  employer matching contributions to the Ball Corporation 2005 Deferred Compensation Company Stock Plan, or its successor, or by a Participant through the Corporation’s other benefit plans, which include but are not limited to the Ball Corporation 401(k) and Employee Stock Ownership Plan and the Employee Stock Purchase Plan.
		

		
			 
		

		
			2.12     Participant means an employee who has been selected for participation in the Program by management and approved by the Committee.
		

		
			 
		

		
			2.13     Program means the Amended and Restated Deposit Share Program as set forth in this document and as amended from time to time.
		

		
			 
		

		
			2.14     Restricted Stock Units (“RSUs”) means units of stock that are awarded to a Participant under this Program pursuant to the Ball Corporation 2013 Stock and Cash Incentive Plan or its successor.
		

		
			 
		

		
			2.15     Retirement means termination of employment by a Participant for whatever reason other than death or disability after attainment of age and service years which, when combined, equals or exceeds seventy (70), subject to a minimum age of fifty-five (55). This definition of Retirement is subject to any existing or additional statutory requirements or prescribed definition of retirement as set forth by local laws in jurisdictions where the Program is to be implemented and which would take precedence.
		

		
			 
		

		
			3.         RSU Grant
		

		
			 
		

		
			3.1       Form of Grant–The grant under this Program shall be a RSU grant pursuant to the Ball Corporation 2013 Stock and Cash Incentive Plan or its successor.  If, at any time or from time to time, during the Acquisition Period, or within 45 days thereafter, the Participant provides documentation to the Executive Compensation Programs Department of the Corporation, reasonably satisfactory to the Corporation, of Participant’s acquisition of Newly Acquired Shares during the Acquisition Period, together with a written promise by the Participant to retain the shares for the Holding Period, then the Corporation will grant the Participant a designated number of RSUs for each Newly Acquired Share so acquired as specified in the Participant’s Award Letter, up to the maximum number of RSUs also specified in the Participant’s Award Letter.
		

		
			 
		

		
			3.2       Minimum Number of Newly Acquired Shares–The minimum number of Newly Acquired Shares pursuant to market purchase or stock option/stock appreciation 
		

		
			
		

		
			

		 

		

			Page 2

		

		

			Effective Date March 7, 2001

		

		

			Amended and Restated July 27, 2016

		

 

		

			Exhibit 10.15 (Continued)

		

		

			 

		

		

		
			right exercise that will be matched by RSUs at one time is the lesser of 500 shares or the amount required to complete the award.  The Participant may accumulate purchases, and when the total number of accumulated shares is equal to or exceeds 500 shares or the amount required to complete the award, the Participant may then request that matching RSUs be granted.  There is no minimum number of Newly Acquired Shares pursuant to deferral of economic value added incentive compensation that will be matched at one time. 
		

		
			 
		

		
			3.3       Granting of RSUs–Unless otherwise specified in the Award Letter, the RSUs will be granted on the 15th of each month provided the documentation required in this Section 3 is received on or before the 5th of that month, otherwise it will be granted the following month.  If the 15th occurs on a holiday or weekend, the RSUs will be issued on the workday immediately prior to that holiday or weekend.
		

		
			 
		

		
			4.         Holding Period for the Newly Acquired Shares
		

		
			 
		

		
			The Participant must agree that the Newly Acquired Shares for which the RSUs were granted will not be sold, transferred, or diversified, prior to the lapse of restrictions on the RSUs. Corporate officers are discouraged from pledging such shares, and should check with the General Counsel before doing so. For Participants that are not officers of the Corporation, a pledge of Newly Acquired Shares as collateral for any loan during the Holding Period is not considered to be a sale or transfer of the shares for purposes of this Program; however, in the event of default on the loan during the Holding Period, the Newly Acquired Shares will be considered to be sold and the RSUs will be forfeited.
		

		
			 
		

		
			5.         Lapse of Restrictions
		

		
			 
		

		
			5.1       Cliff Lapse–Except as provided herein, restrictions on all RSUs will cliff lapse on the date that is specified in the Award Letter and the Participant will be issued Ball Corporation Common Stock.
		

		
			 
		

		
			5.2       Accelerated Lapse Rate–The restrictions may lapse at an accelerated rate as specified in the Award Letter and the Participant will be issued Ball Corporation Common Stock.
		

		
			 
		

		
			6.         Additional Cash Payment
		

		
			 
		

		
			The Participant also will receive a dividend equivalent, if any, payable with respect to the RSUs  from the date of grant until restrictions lapse.
		

		
			 
		

		
			7.         Retirement, Disability or Death
		

		
			 
		

		
			7.1       Retirement–Participants who retire before restrictions lapse on RSUs granted under this Program will receive a prorated portion of their outstanding RSUs and 
		

		
			
		

		
			

		 

		

			Page 3

		

		

			Effective Date March 7, 2001

		

		

			Amended and Restated July 27, 2016

		

 

		

			Exhibit 10.15 (Continued)

		

		

			 

		

		

		
			the restrictions on the prorated RSUs will lapse.  Fractional RSUs will be rounded up at proration.
		

		
			 
		

		
			Proration Calculation
		

		
			 
		

			
					
						Number of RSUs outstanding on date of retirement

					
					
						X

					
					
						Number of days from grant to retirement

					
						Number of days from grant to scheduled

					
						cliff lapse

					
					
						=

					
					
						Number of

					
						RSUs

					
						outstanding after

					
						proration

				

		
			 
		

		
			7.2       Disability or Death–Restrictions on the RSUs outstanding at disability or death will lapse and Ball Corporation common stock will be issued to the Participant or the Participant’s estate or beneficiary.
		

		
			 
		

		
			8.         Forfeiture
		

		
			 
		

		
			All rights in and to any and all RSUs granted pursuant to this Program which have not had restrictions lapse as described above in this Program, shall be forfeited upon the Participant’s termination from the Corporation, except as provided for in Section 7. Any Participant whose employment terminates for cause, regardless of Retirement status, shall forfeit all outstanding RSUs under this Program.  In addition, any RSUs granted pursuant to this Program shall be forfeited if the Newly Acquired Shares to which the RSUs relate are sold or transferred by the Participant prior to the lapse of restrictions on such RSUs.  For each RSU for which the restrictions have lapsed, the holding period requirement for the Newly Acquired Shares for which the RSUs were granted shall also end.
		

		
			 
		

		
			9.         Defer Release of RSUs
		

		
			 
		

		
			Certain Participants may be eligible to defer the release of their RSUs where allowed by laws of the country that apply to the Participant.  Such opportunity to defer is not guaranteed.
		

		
			 
		

		
			If deferral is permitted, Participants in the Program may defer RSUs granted under this Program into the Ball Corporation 2005 Deferred Compensation Company Stock Plan, or its successor, by making an election to defer by the election deadline applicable to their RSU grant date.  If a Participant elects to defer, their deferred RSUs will be credited as units to the Participant’s designated account(s) in the Ball Corporation 2005 Deferred Compensation Company Stock Plan or its successor upon lapse.  Upon deferral, the units credited may be eligible for employer matching contributions under the Ball Corporation 2005 Deferred Compensation Company Stock Plan or its successor.  Restrictions and the Participant’s rights with respect to such units will be determined under the terms of the Program.  The actual of the RSUs will not occur until restrictions lapse on the RSUs.
		

		
			 
		

		
			10.         Miscellaneous
		

		
			 
		

		
			10.1     Administration of the Program–The Human Resources Committee of the Board of Directors shall be the sole administrator of the Program.  The Committee shall 
		

		
			
		

		
			

		 

		

			Page 4

		

		

			Effective Date March 7, 2001

		

		

			Amended and Restated July 27, 2016

		

 

		

			Exhibit 10.15 (Continued)

		

		

			 

		

		

		
			have full power to formulate additional details and regulations for carrying out this Program.  The Committee shall also be empowered to make any and all of the determinations not herein specifically authorized which may be necessary or desirable for the effective administration of the Program.  Any decision or interpretation of any provision of this Program adopted by the Committee shall be final and conclusive.
		

		
			 
		

		
			10.2     Amendment and Termination of Program–The Committee may at any time amend the Program in whole or in part; provided, however, that no amendment shall be effective to affect the Participant’s vested right therein, and, except as provided below, no amendment shall be effective to decrease the future benefits under the Program payable to any Participant or beneficiary with respect to any amount granted or vested prior to the date of the amendment.  Written notice of any amendments shall be given promptly to each Participant.  No notice shall be required with respect to amendments that are non-material or administrative in nature.
		

		
			 
		

		
			10.3     Successors and Mergers, Consolidations, or Change in Control–The terms and conditions of this Program shall enure to the benefit of and bind the Corporation, the Participants, their successors, assignees, and personal representatives.  If a Change in Control shall occur then the rights and obligations shall be those outlined in the 2013 Stock and Cash Incentive Plan, or its successor.
		

		
			 
		

		
			10.4     Recoupment of Awards Resulting from Fraud or Intentional Misconduct–If the Board or an appropriate Committee of the Board determines that any fraud or intentional misconduct by one or more Officers or other executives of the Corporation, or an affiliate, at a level of Vice President or above caused the Corporation, directly or indirectly, to restate its financial statements and the Officer or such executive has received more compensation than would have been paid absent the fraud or intentional misconduct, the Board or Committee, in its discretion, shall take such action as it deems necessary or appropriate to remedy the fraud or intentional misconduct and prevent its recurrence.  Such action may include, to the extent permitted by applicable law, in appropriate cases, requiring partial or full reimbursement of any incentive compensation paid to the Officer or such executive or causing partial or full cancellation of any outstanding RSUs previously granted to such Officer or such executive in the amount by which the value of the such compensation exceeds or exceeded any lower value that would have resulted based on the restated financial results.
		

		
			 
		

		
			10.5     Employment or Future Eligibility to Participate Not Guaranteed–Nothing contained in this Program, nor any action taken hereunder, shall be construed as a contract of employment or as giving any Participant any right to be retained in the employ of the Corporation.  Designation as a Participant is discretionary, is not a contractual right, and may be revoked at any time by the Committee with respect to any RSUs not yet granted.
		

		
			 
		

		
			
		

		
			

		 

		

			Page 5

		

		

			Effective Date March 7, 2001

		

		

			Amended and Restated July 27, 2016

		

 

		

			Exhibit 10.15 (Continued)

		

		

			 

		

		

		
			10.6     Gender, Singular and Plural–All pronouns and any variations thereof shall be deemed to refer to the masculine and feminine gender as the identity of the person or persons may require.  As the context may require, the singular may be read as the plural and the plural as the singular.
		

		
			 
		

		
			10.7     Captions–The captions to the articles, sections, and paragraphs of this Program are for convenience only and shall not control or affect the meaning or construction of any of its provisions.
		

		
			 
		

		
			10.8     Applicable Law–This Program shall be governed and construed in accordance with the laws of the State of Indiana.
		

		
			 
		

		
			10.9     Validity–In the event any provision of this Program is held invalid, void, or unenforceable, the same shall not affect, in any respect whatsoever, the validity of any other provision of this Program.
		

		
			 
		

		 

		

			Page 6

		

		

			Effective Date March 7, 2001

		

		

			Amended and Restated July 27, 2016

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