Document:

EX-10.1

 Exhibit 10.1 

 

					
		 	
AMERICAN INTERNATIONAL GROUP, INC.

2013 LONG TERM INCENTIVE PLAN
	  	

  

	1.	PURPOSE; DEFINITIONS 

 This American International Group, Inc. 2013 Long Term Incentive Plan (this “Plan”) is designed to provide selected officers and key employees of American International Group, Inc.
(“AIG” and together with its consolidated subsidiaries, determined in accordance with U.S. generally accepted accounting principles, the “Company”) with incentives to contribute to the long-term
performance of AIG in a manner that appropriately balances risk and rewards. 
 Awards under this Plan are issued under the
American International Group, Inc. 2010 Stock Incentive Plan (as amended from time to time or any successor stock incentive plan, including the American International Group, Inc. 2013 Omnibus Incentive Plan, the “SIP”), the
terms of which are incorporated in this Plan. Capitalized terms used in this Plan but not otherwise defined in this Plan or in the attached Glossary of Terms in Annex A have the meaning ascribed to them in the SIP. 

 

	2.	PERFORMANCE PERIOD 

 This Plan will operate for successive overlapping three-year performance periods (each, a “Performance Period”) beginning on January 1 of each year. The first Performance
Period will be from January 1, 2013 through December 31, 2015. Each Performance Period will be for successive three calendar-year periods until the Plan is terminated by the Compensation and Management Resources Committee (including any
successor, the “Committee”) of the Board of Directors of AIG (the “Board”). 
  

	3.	AWARDS AND PARTICIPANTS 

A. Performance Share Units. Awards issued under this Plan (“Awards”) consist of performance
share units (“PSUs”) providing holders with the opportunity to earn shares of Common Stock (“Shares”) based on achievement of performance criteria during the Performance Period. PSUs will be subject to
the terms and conditions of this Plan and the SIP and will be issued only to the extent permissible under relevant laws, regulatory restrictions and agreements applicable to the Company, and the Committee may establish another form of Award to the
extent it determines appropriate for some or all Participants (as defined below). 
 B. Participants. The
Committee will from time to time determine (1) the officers and key employees of the Company who will receive Awards (the “Participants”) and (2) the number of PSUs awarded to each Participant for a Performance
Period. No Award of PSUs to a Participant for a Performance Period shall in any way obligate the Committee to (or imply that the Committee will) provide a similar Award (or any Award) to the Participant for any future Performance Period. 

 C. Status of PSUs. Each PSU constitutes an unfunded and
unsecured promise of AIG to deliver (or cause to be delivered) one Share (or, at the election of AIG, cash equal to the Fair Market Value thereof) as provided in Section 5.E. Until such delivery, a holder of PSUs will have only the rights of a
general unsecured creditor and no rights as a shareholder of AIG. 
 D. Award Agreements. Each Award
granted under the Plan shall be evidenced by an award agreement that shall contain such provisions and conditions as the Committee deems appropriate; provided that, except as otherwise expressly provided in an award agreement, if there is any
conflict between any provision of this Plan and an award agreement, the provisions of this Plan shall govern. By accepting an Award pursuant to this Plan, a Participant thereby agrees that the Award shall be subject to all of the terms and
provisions of this Plan, the SIP and the applicable award agreement. Awards shall be accepted by a Participant signing the applicable award agreement, and returning it to the Company. Failure by a Participant to do so within 90 days from the date of
the award agreement shall give the Company the right to rescind the Award. 
  

	4.	PERFORMANCE CRITERIA 

 The number of PSUs earned for any Performance Period will be based on one or more performance measures established by the Committee in its sole discretion with respect to such Performance Period
(collectively, the “Performance Measures”). For each Performance Measure with respect to a Performance Period, the Committee will establish a “Weighting,” “Threshold,”
“Target” and “Maximum.” 
  

	5.	PSUS AWARDS 

 A. Performance Awards. A Participant’s award agreement will set forth a PSU award opportunity, which will cover such target number of PSUs as determined by the Committee (the
“Target PSUs”). 
 B. Performance Results. At the end of the Performance Period,
the Committee will assess performance against each Performance Measure and determine the Earned Percentage for each such Performance Measure as follows, subject to the terms and conditions of this Plan and unless determined otherwise by the
Committee: 
  

					
	Performance	  	Earned Percentage	 
		
	 Performance less than Threshold
	  	 	0	% 
		
	 Performance at Threshold
	  	 	50	% 
		
	 Performance at Target
	  	 	100	% 
		
	 Performance at or above Maximum
	  	 	150	% 

  
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 The Earned Percentage for performance between Threshold and Target and
between Target and Maximum will be determined on a straight-line basis. For the avoidance of doubt, the Committee retains discretion to reduce any Earned PSU Award to zero. 

C. Earned PSUs. The number of PSUs earned for the Performance Period (the “Earned
PSUs”) will equal the sum of the PSUs earned for each Performance Measure, calculated as follows: 
  

																	
		 	
        PSUs earned        

for a

Performance

Measure
	 	=	 	
        Target        

PSUs
	 	x	 	 Earned
         Percentage        
	 	x	 	       Weighting of      

Performance

Measure
	 	

 D. Vesting of Earned PSUs. Except as provided in Section 6, and subject to the
other terms and conditions of this Plan and the applicable award agreement, Earned PSUs or a portion shall vest in three equal annual installments on January 1 of the year immediately following the end of the Performance Period and
January 1 of each of the next two years (each, a “Scheduled Vesting Date”). 
 E.
Delivery of Earned PSUs. Except as provided in Section 6, AIG will deliver (or cause to be delivered) to the Participant Shares (or, at the election of AIG, cash equal to the Fair Market Value thereof) in respect of any Earned PSUs, or
portion thereof, as promptly as administratively practicable following the applicable Scheduled Vesting Date, provided that any delivery following the first Scheduled Vesting Date for a given Award of Earned PSUs shall be made as promptly as
administratively practicable following the determination of Earned PSUs by the Committee, but no later than April 30th after such first Scheduled Vesting Date and delivery following the subsequent Scheduled Vesting Dates shall be made within 30
days following the applicable Scheduled Vesting Date. Subject to Section 6, a Participant must be Employed on the applicable Scheduled Vesting Date in order to be entitled to receive a delivery of any portion of the Earned PSUs. 

 

	6.	VESTING AND PAYOUT UPON TERMINATION OF EMPLOYMENT
AND CORPORATE EVENTS 

 A.
Termination Generally. Except as otherwise provided in this Section 6, if a Participant’s Employment is Terminated for any reason, then any unvested Awards, or parts thereof, shall immediately terminate and be forfeited. 

B. Involuntary Termination, Retirement or Disability. Subject to Section 6.G, in the case of a
Participant’s involuntary Termination without Cause, Retirement or Disability, the Participant’s Award will immediately vest and the Shares (or cash) corresponding to the Earned PSUs

  
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(based on the performance for the whole Performance Period) will be delivered to the Participant on the dates specified in Section 5.E that such Award would otherwise have been delivered if
the Participant had continued to remain Employed. For the avoidance of doubt, an involuntary Termination without Cause as provided in this Section 6.B shall not include a resignation that a Participant may assert was a constructive discharge.

 C. Qualifying Resignation. Subject to Section 6.G, in the case of a Participant’s Qualifying
Resignation after the first year of a Performance Period, the Participant’s Award will immediately vest and the Shares (or cash) corresponding to the Earned PSUs (based on the performance for the whole Performance Period) will be delivered to
the Participant on the dates specified in Section 5.E that such Award would otherwise have been delivered if the Participant had continued to remain Employed. For the avoidance of doubt, in the case of a Participant’s Qualifying
Resignation during the first year of a Performance Period, the Participant’s Award shall immediately terminate and be forfeited. 
 D. Death. In the case of a Participant’s death during a Performance Period or following a Performance Period but prior to the Committee’s adjudication of performance under
Section 5.B, the Participant’s Award will immediately vest and the Shares (or cash) corresponding to the Target PSUs will be delivered to the Participant’s estate as soon as practicable but in no event later than the end of the
calendar year or, if later, within two and one-half months following the date of death. In the case of a Participant’s death following the Committee’s adjudication of performance for a Performance Period under Section 5.B, the
Participant’s Award will immediately vest and the Shares (or cash) corresponding to the Earned PSUs (based on performance for the whole Performance Period) will be delivered to the Participant’s estate as soon as practicable but in no
event later than the end of the calendar year or, if later, within two and one-half months following the date of death. 
 E. Change in Control. In the case of a Change in Control during a Performance Period and the Participant’s involuntary Termination without Cause within twenty-four (24) months following
such Change in Control, the Participant shall receive Shares (or cash) corresponding to the Target PSUs, unless the Committee determines to use actual performance through the date of the Change in Control, and such Shares (or cash) will immediately
vest. In the case of a Change in Control following a Performance Period and the Participant’s involuntary Termination without Cause within twenty-four (24) months following such Change in Control, the Participant shall receive Shares (or
cash) corresponding to the Earned PSUs (based on performance for the whole Performance Period), and such Shares (or cash) will immediately vest. Any such vested amounts will be delivered by the end of the calendar year or, if later, within two and
one-half months following the Participant’s separation from service, provided that no delivery will be delayed as a result of the Change in Control. 

  
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 F. Election to Accelerate or Delay Delivery. The Committee may, in
its sole discretion, determine to accelerate or defer delivery of any Shares (or cash) underlying the Awards granted under the Plan or permit a Participant to elect to accelerate or defer delivery of any such Shares (or cash), in each case in a
manner that conforms to the requirements of Section 409A and is consistent with the provisions of Section 8.E. 
 G. Release of Claims. In the case of a Participant’s involuntary Termination without Cause, Qualifying Resignation or Retirement, the Company will require the Participant to execute a release
substantially in the form attached as Annex B (the “Release”), subject to any provisions that the Committee may amend or add to the release in order to impose restrictive covenants requiring (x) confidentiality of
information, non-disparagement and non-solicitation of Company employees for 12 months following the Termination and (y) in the case of a Qualifying Resignation, non-competition for twelve (12) months following the Termination, in each
case as a condition to receiving delivery of any Shares (or cash) under any Awards, and the release must be executed by the Participant and become irrevocable prior to or during the calendar year of the date on which a delivery of Shares (or cash)
with respect to the Earned PSUs is scheduled to be delivered pursuant to Section 4.D; provided that if the release is executed after such time, the delivery of Shares (or cash) with respect to such calendar year will be forfeited;
provided, further, that if the local laws of a country or non-U.S. jurisdiction in which Participant performs services render invalid or unenforceable all or a portion of the Release (subject to additional provisions as described above), the
General Counsel of AIG or his or her designee shall have the discretion to create a release that incorporates as much of the Release as possible while also complying with such local laws. 

 

	7.	ADMINISTRATION OF THIS PLAN 

A. General. This Plan shall be administered by the Committee and the person or persons designated by the Committee
to administer the Plan from time to time. Actions of the Committee may be taken by the vote of a majority of its members. The Committee may allocate among its members and delegate to any person who is not a member of the Committee any of its
administrative responsibilities. The Committee will have the power to interpret this Plan, to make regulations for carrying out its purposes and to make all other determinations in connection with its administration (including, without limitation,
whether a Participant has become subject to Disability), all of which will, unless otherwise determined by the Committee, be final, binding and conclusive. The Committee may, in its sole discretion, reinstate any Awards made under this Plan that
have been terminated and forfeited because of a Participant’s Termination, if the Participant complies with any covenants, agreements or conditions that the Committee may impose; provided, however, that any delivery of Shares (or
cash) under such reinstated Awards will not be made until the scheduled times set forth in this Plan. 

  
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 B. Non-Uniform Determinations. The Committee’s determinations
under this Plan need not be uniform and may be made by it selectively with respect to persons who receive, or are eligible to receive, Awards (whether or not such persons are similarly situated). Without limiting the generality of the foregoing, the
Committee will be entitled, among other things, to make non-uniform and selective determinations as to the persons to become Participants. 
 C. Determination of Employment. The Committee will have the right to determine the commencement or Termination date of a Participant’s Employment with the Company solely for purposes of this
Plan, separate and apart from any determination as may be made by the Company with respect to the individual’s employment. 
 D. Amendments. The Committee will have the power to amend this Plan and the performance criteria established pursuant to Section 4 in any manner and at any time, including in a manner adverse
to the rights of the Participants. The Committee shall also have the power, in its sole discretion, to reduce the amount of any Target PSUs or Earned PSUs at any time including, for the avoidance of doubt, after the Performance Period has ended.

 E. No Liability. No member of the Board of Directors of AIG or any employee of the Company performing
services with respect to the Plan (each, a “Covered Person”) will have any liability to any person (including any Participant) for any action taken or omitted to be taken or any determination made, in each case, in good faith
with respect to this Plan or any Participant’s participation in it. Each Covered Person will be indemnified and held harmless by the Company against and from any loss, cost, liability, or expense (including attorneys’ fees) that may be
imposed upon or incurred by such Covered Person in connection with or resulting from any action, suit or proceeding to which such Covered Person may be a party or in which such Covered Person may be involved by reason of any action taken or omitted
to be taken under this Plan and against and from any and all amounts paid or Shares delivered by such Covered Person, with the Company’s approval, in settlement thereof, or paid or delivered by such Covered Person in satisfaction of any
judgment in any such action, suit or proceeding against such Covered Person, provided that the Company will have the right, at its own expense, to assume and defend any such action, suit or proceeding and, once the Company gives notice of its
intent to assume the defense, the Company will have sole control over such defense with counsel of the Company’s choice. To the extent any taxable expense reimbursement under this paragraph is subject to Section 409A, (x) the amount
thereof eligible in one taxable year shall not affect the amount eligible in any other taxable year; (y) in no event shall any expenses be reimbursed after the last day of the taxable year following the taxable year in which the Covered Person
incurred such expenses; and (z) in no event shall any right to reimbursement be subject to liquidation or exchange for another benefit. The foregoing right of indemnification will not be available to a Covered Person to the extent that a court
of competent jurisdiction in a final 

  
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judgment or other final adjudication, in either case, not subject to further appeal, determines that the acts or omissions of such Covered Person giving rise to the indemnification claim resulted
from such Covered Person’s bad faith, fraud or willful misconduct. The foregoing right of indemnification will not be exclusive of any other rights of indemnification to which Covered Persons may be entitled under AIG’s Amended and
Restated Certificate of Incorporation or Bylaws, as a matter of law, or otherwise, or any other power that the Company may have to indemnify such persons or hold them harmless. 

F. Clawback/Repayment. Notwithstanding anything to the contrary herein, Awards and any payments or deliveries under
this Plan will be subject to forfeiture and/or repayment to the extent provided in the AIG Clawback Policy, as in effect from time to time. 
  

	8.	GENERAL RULES 

 A. No Funding. The Company will be under no obligation to fund or set aside amounts to pay obligations under this Plan. A Participant will have no rights to any Awards or other amounts under this
Plan other than as a general unsecured creditor of the Company. 
 B. Tax Withholding. The delivery of
Shares (or cash) under this Plan is conditioned on a Participant’s satisfaction of any applicable withholding taxes in accordance with Section 3.2 of the American International Group, Inc. 2010 Stock Incentive Plan, as amended from time to
time, or such similar provision of any successor stock incentive plan. 
 C. No Rights to Other Payments.
The provisions of this Plan provide no right or eligibility to a Participant to any other payouts from AIG or its subsidiaries under any other alternative plans, schemes, arrangements or contracts AIG may have with any employee or group of employees
of AIG or its subsidiaries. 
 D. No Effect on Benefits. Grants and the delivery of Shares (or cash) under
this Plan will constitute a special discretionary incentive payment to the Participants and will not be required to be taken into account in computing the amount of salary or compensation of the Participants for the purpose of determining any
contributions to or any benefits under any pension, retirement, profit-sharing, bonus, life insurance, severance or other benefit plan of AIG or any of its subsidiaries or under any agreement with the Participant, unless AIG or the subsidiary with
which the Participant is Employed specifically provides otherwise. 
 E. Section 409A. 

(1) Awards made under the Plan are intended to be “deferred compensation” subject to Section 409A, and this
Plan is intended to, and shall be interpreted, administered and construed to, comply with Section 409A. The Committee will have full authority to give effect to the intent of this Section 8.E. 

  
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 (2) If any payment or delivery to be made under any Award (or any other
payment or delivery under this Plan) would be subject to the limitations in Section 409A(a)(2)(b) of the Code, the payment or delivery will be delayed until six months after the Participant’s separation from service (or earlier death) in
accordance with the requirements of Section 409A. 
 (3) Each payment or delivery in respect of any Award
will be treated as a separate payment or delivery for purposes of Section 409A. 
 F. Severability.
If any of the provisions of this Plan is finally held to be invalid, illegal or unenforceable (whether in whole or in part), such provision will be deemed modified to the extent, but only to the extent, of such invalidity, illegality or
unenforceability and the remaining provisions will not be affected thereby; provided that if any of such provisions is finally held to be invalid, illegal, or unenforceable because it exceeds the maximum scope determined to be acceptable to
permit such provision to be enforceable, such provision will be deemed to be modified to the minimum extent necessary to modify such scope in order to make such provision enforceable hereunder. 

G. Entire Agreement. This Plan contains the entire agreement of the parties with respect to the subject matter
hereof and supersedes all prior agreements, promises, covenants, arrangements, communications, representations and warranties between them, whether written or oral with respect to the subject matter hereof. 

H. Waiver of Claims. Each Participant recognizes and agrees that prior to being selected by the Committee to
receive an Award he or she has no right to any benefits under this Plan. Accordingly, in consideration of the Participant’s receipt of any Award hereunder, he or she expressly waives any right to contest the amount of any Award, the terms of
this Plan, any determination, action or omission hereunder by the Committee or the Company or any amendment to this Plan. 
 I. No Third Party Beneficiaries. Except as expressly provided herein, this Plan will not confer on any person other than the Company and the Participant any rights or remedies hereunder. The
exculpation and indemnification provisions of Section 7.E will inure to the benefit of a Covered Person’s estate and beneficiaries and legatees. 
 J. Successor Entity; AIG’s Assigns. Unless otherwise provided in the applicable award agreement and except as otherwise determined by the Committee, in the event of a merger, consolidation,
mandatory share exchange or other similar business combination of AIG with or into any other entity (“Successor Entity”) or any transaction in which another person or entity acquires all of the issued and outstanding Common
Stock of AIG, or all or substantially all of the assets of AIG, outstanding Awards may be assumed or a substantially equivalent award may be substituted by such Successor Entity or a parent or subsidiary of such Successor Entity. The terms of this
Plan will be binding and inure to the benefit of AIG and its successors and assigns. 

  
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 K. Nonassignability. No Award (or any rights and obligations
thereunder) granted to any person under the Plan may be sold, exchanged, transferred, assigned, pledged, hypothecated or otherwise disposed of or hedged, in any manner (including through the use of any cash-settled instrument), whether voluntarily
or involuntarily and whether by operation of law or otherwise, other than by will or by the laws of descent and distribution, except as may be otherwise provided in the award agreement. Any sale, exchange, transfer, assignment, pledge,
hypothecation, or other disposition in violation of the provisions of this Section 8.K will be null and void and any Award which is hedged in any manner will immediately be forfeited. All of the terms and conditions of this Plan and the award
agreements will be binding upon any permitted successors and assigns. 
 L. Right to Discharge. Nothing
contained in this Plan or in any Award will confer on any Participant any right to be continued in the employ of AIG or any of its subsidiaries or to participate in any future plans. 

M. Consent. If the Committee at any time determines that any consent (as hereinafter defined) is necessary or
desirable as a condition of, or in connection with, the granting of any Award or the delivery of any Shares under this Plan, or the taking of any other action thereunder (each such action, a “plan action”), then such plan
action will not be taken, in whole or in part, unless and until such consent will have been effected or obtained to the full satisfaction of the Committee; provided that if such consent has not been so effected or obtained as of the latest
date provided by this Plan for payment of such amount or delivery and further delay is not permitted in accordance with the requirements of Section 409A, such amount will be forfeited and terminate notwithstanding any prior earning or vesting.

 The term “consent” as used in this paragraph with respect to any plan action includes
(1) any and all listings, registrations or qualifications in respect thereof upon any securities exchange or under any federal, state, or local law, or law, rule or regulation of a jurisdiction outside the United States, (2) any other
matter, which the Committee may deem necessary or desirable to comply with the terms of any such listing, registration or qualification or to obtain an exemption from the requirement that any such listing, qualification or registration be made,
(3) any and all other consents, clearances and approvals in respect of a plan action by any governmental or other regulatory body or any stock exchange or self-regulatory agency and (4) any and all consents required by the Committee.

 N. Subject to Any AIG Section 162(m) Plan. AIG may, in any year, propose a Section 162(m)
compliant performance incentive award plan (the “AIG Section 162(m) Plan”). If an AIG Section 162(m) Plan is proposed and approved by AIG stockholders in accordance with Section 162(m)(4)(C) of the Code and
Treasury Regulation Section 1.162-27(e)(4), this Plan will function as a sub-plan under the AIG Section 162(m) Plan, whereby 

  
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performance compensation amounts payable under the AIG Section 162(m) Plan can be paid in part by accruing awards with respect to a Performance Period. 

O. No Liability With Respect to Tax Qualification or Adverse Tax Treatment. Notwithstanding anything to the
contrary contained herein, in no event shall the Company be liable to a Participant on account of the failure of any Award or amount payable under this Plan to (a) qualify for favorable United States or foreign tax treatment or (b) avoid
adverse tax treatment under United States or foreign law, including, without limitation, Section 409A. 
  

	9.	DISPUTES 

 A. Governing Law. This Plan will be governed by and construed in accordance with the laws of the State of New York, without regard to principles of conflict of laws. The Plan shall also be subject
to all applicable non-U.S. laws as to Participants located outside of the United States. In the event that any provision of this Plan is not permitted by the local laws of a country or jurisdiction in which a Participant performs services, such
local law shall supersede that provision of this Plan with respect to that Participant. The benefits to which a Participant would otherwise be entitled under this Plan may be adjusted or limited to the extent that the Committee determines is
necessary or appropriate in light of applicable law or local practice. 
 B. Arbitration. Subject to the
provisions of this Section 9, any dispute, controversy or claim between the Company and a Participant, arising out of or relating to or concerning this Plan or any Award, will be finally and exclusively settled by arbitration in New York
City before, and in accordance with the Employment Arbitration Rules and Mediation Procedures of the American Arbitration Association (the “AAA”) then in effect. Prior to arbitration, all claims maintained by a Participant
must first be submitted to the Committee in accordance with claims procedures determined by the Committee. 

C. Jurisdiction. The Company and each Participant hereby irrevocably submit to the exclusive jurisdiction of a
state or federal court of appropriate jurisdiction located in the Borough of Manhattan, the City of New York over any suit, action or proceeding arising out of or relating to or concerning this Plan or any Award that is not otherwise arbitrated or
resolved according to Section 9.B. The Company and each Participant acknowledge that the forum designated by this section has a reasonable relation to this Plan and to such Participant’s relationship with the Company, that the
agreement as to forum is independent of the law that may be applied in the action, suit or proceeding and that such forum shall apply even if the forum may under applicable law choose to apply non-forum law. 

D. Waiver. The Company and each Participant waive, to the fullest extent permitted by applicable law, any objection
which the Company and such Participant now or hereafter may have to personal jurisdiction or to 

  
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the laying of venue of any such suit, action or proceeding in any court referred to in Section 9.C. The Company and each Participant undertake not to commence any action, suit or proceeding
arising out of or relating to or concerning this Plan or any Award in any forum other than a forum described in Section 9.C. Notwithstanding the foregoing, nothing herein shall preclude the Company from bringing any action, suit or proceeding
in any other court for the purpose of enforcing the provisions of this Section 9. The Company and each Participant agree that, to the fullest extent permitted by applicable law, a final and non-appealable judgment in any such suit, action or
proceeding in any such court shall be conclusive and binding upon the Participant and the Company. 
 E.
Service of Process. Each Participant irrevocably appoints the Secretary of AIG at 80 Pine Street, New York, New York 10005, U.S.A. as his or her agent for service of process in connection with any action, suit or proceeding
arising out of or relating to or concerning this Plan or any Award that is not otherwise arbitrated or resolved according to Section 9.B. The Secretary will promptly advise the Participant of any such service of process. 

F. Confidentiality. Each Participant must keep confidential any information concerning any grant or Award made
under this Plan and any dispute, controversy or claim relating to this Plan, except that (i) a Participant may disclose information concerning a dispute or claim to the court that is considering such dispute or to such Participant’s legal
counsel (provided that such counsel agrees not to disclose any such information other than as necessary to the prosecution or defense of the dispute) or (ii) a Participant may disclose information regarding an Award to the
Participant’s personal lawyer or tax accountant, provided that such individuals agree to keep the information confidential. 
  

	10.	TERM OF PLAN 

 This Plan will continue until suspended or terminated by the Committee in its sole discretion. Any termination of this Plan will be done in a manner that the Committee determines complies with
Section 409A. 

  
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 Annex A 
 Glossary of Terms 
 “Cause” means (1) a
Participant’s conviction, whether following trial or by plea of guilty or nolo contendere (or similar plea), in a criminal proceeding (A) on a misdemeanor charge involving fraud, false statements or misleading omissions, wrongful
taking, embezzlement, bribery, forgery, counterfeiting or extortion, or (B) on a felony charge or (C) on an equivalent charge to those in clauses (A) and (B) in jurisdictions which do not use those designations; (2) a
Participant’s engagement in any conduct which constitutes an employment disqualification under applicable law (including statutory disqualification as defined under the Securities Exchange Act of 1934); (3) a Participant’s violation
of any securities or commodities laws, any rules or regulations issued pursuant to such laws, or the rules and regulations of any securities or commodities exchange or association of which the Company or any of its subsidiaries or affiliates is a
member; or (4) a Participant’s material violation of the Company’s codes or conduct or any other AIG policy as in effect from time to time. The determination as to whether “Cause” has occurred shall be made by
the Committee in its sole discretion. The Committee shall also have the authority in its sole discretion to waive the consequences of the existence or occurrence of any of the events, acts or omissions constituting “Cause.”

 “Change in Control” means the occurrence of any of the following events: 

(1) individuals who, on January 1, 2013, constitute the Board (the “Incumbent Directors”) cease for any
reason to constitute at least a majority of the Board, provided that any person becoming a director subsequent to January 1, 2013, whose election or nomination for election was approved by a vote of at least two-thirds of the Incumbent
Directors then on the Board (either by a specific vote or by approval of AIG’s proxy statement in which such person is named as a nominee for director, without written objection to such nomination) shall be an Incumbent Director; provided,
however, that no individual initially elected or nominated as a director of AIG as a result of an actual or threatened election contest with respect to directors or as a result of any other actual or threatened solicitation of proxies or consents by
or on behalf of any person other than the Board shall be deemed to be an Incumbent Director; 
 (2) Any “person” (as
such term is defined in Section 3(a)(9) of the Exchange Act and as used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act), is or becomes a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly
or indirectly, of securities of AIG representing 50% or more of the combined voting power of AIG’s then outstanding securities eligible to vote for the election of the Board (“AIG Voting Securities”); provided, however,
that the event described in this paragraph (2) shall not be deemed to be a Change in Control by virtue of an acquisition of AIG Voting Securities: (A) by AIG or any subsidiary of AIG (B) by any employee benefit plan (or related
trust) sponsored or maintained by AIG or any subsidiary of AIG or (C) by any underwriter temporarily holding securities pursuant to an offering of such securities; 
 (3) The consummation of a merger, consolidation, statutory share exchange or similar form of corporate transaction involving AIG (a “Business Combination”) that results in any
person (other than the United States Department of Treasury) becoming the beneficial owner, directly or indirectly, of 50% or more of the total voting power of the outstanding voting securities eligible to elect directors of the entity resulting
from such Business Combination; 

 (4) The consummation of a sale of all or substantially all of AIG’s assets (other than
to an affiliate of AIG); or 
 (5) AIG’s stockholders approve a plan of complete liquidation or dissolution of AIG.

 Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because any person acquires beneficial ownership of
more than 50% of the AIG Voting Securities as a result of the acquisition of AIG Voting Securities by AIG which reduces the number of AIG Voting Securities outstanding; provided that if after such acquisition by AIG such person becomes the
beneficial owner of additional AIG Voting Securities that increases the percentage of outstanding AIG Voting Securities beneficially owned by such person, a Change in Control shall then occur. 

“Disability” means that a Participant, who after receiving short term disability income replacement payments for
six months, (i) is determined to be disabled in accordance with the Company’s long term disability plan in which employees of the Company are generally able to participate, if one is in effect at such time, to the extent such disability
complies with 26 C.F.R. §1.409A-3(i)4(i)(B), or (ii) to the extent such Participant is not participating in the Company’s long term disability plan, or no such long term disability plan exists, is determined to have
medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months as determined by, as applicable, the Company’s long term disability
insurer or the department or vendor directed by the Company to determine eligibility for unpaid medical leave. 

“Employed” and “Employment” means (a) actively performing services for the Company,
(b) being on a Company-approved leave of absence, whether paid or unpaid, or (c) receiving long term disability benefits, in each case while in good standing with the Company. 

“Qualifying Resignation” for a Participant means voluntary Termination initiated by the Participant (while such
Participant is in good standing with the Company), that would not otherwise satisfy the definition of Retirement below, after attainment of age plus years of service equal to 60; provided that such Termination occurs on or after age 50 with
at least five years of service. 
 “Retirement” for a Participant means voluntary Termination initiated
by the Participant (while such Participant is in good standing with the Company) (i) on or after age 60 with five years of service or (ii) on or after age 55 with 10 years of service 

“Termination” or “Terminate,” with respect to a Participant, means the termination
of the Participant’s Employment. 

  
 13 

 Annex B 
 Form of Release Referred to in Section 6.G of the Plan. 
 NOT
personalized to each Participant. 
 (1) [Employee Name] (“Employee”), for good and sufficient
consideration, the receipt of which is hereby acknowledged, hereby waives and forever releases and discharges any and all claims of any kind Employee may have against American International Group, Inc., its affiliate or subsidiary companies, or any
officer, director or employee of, or any benefit plan sponsored by, any such company (collectively, the “Released Parties”) which arise from Employee’s employment with any of the Released Parties or the termination of
Employee’s employment with any of the Released Parties. [Specifically, but without limiting that release, Employee hereby waives any rights or claims Employee might have pursuant to the Age Discrimination in Employment Act of 1967, as amended
(the “Act”) and under the laws of any and all jurisdictions, including, without limitation, the United States. Employee recognizes that Employee is not waiving any rights or claims under the Act that may arise after the date that
Employee executes this Release.] Nothing herein modifies or affects any vested rights that Employee may have under the [American International Group, Inc. Retirement Plan, or the American International Group, Inc. Incentive Savings Plan] [and
other plans applicable to Employee]; nor does this Release confer any such rights, which are governed by the terms of the respective plans (and any agreements under such plans). 

(2) Employee acknowledges that Employee has not filed any complaint, charge, claim or proceeding, if any, against any of the Released
Parties before any local, state or federal agency, court or other body (each individually a “Proceeding”). Employee represents that Employee is not aware of any basis on which such a Proceeding could reasonably be instituted.

 (3) Employee acknowledges and agrees that Employee has complied with and will continue to comply with the non-disparagement,
non-solicitation and confidentiality provisions set forth in the Employee’s award agreement pursuant to Section 3.D of the Plan, [a copy of which is attached hereto as Exhibit A], and further agrees that AIG’s remedies at law
for a breach or threatened breach of any of the non-disparagement, non-solicitation and confidentiality provisions in the Employee’s award agreement would be inadequate. In recognition of this fact, the Employee agrees that, in the event of
such a breach or threatened breach, in addition to any remedies at law, AIG, without posting any bond, shall be entitled to obtain equitable relief from a court of competent jurisdiction in the form of specific performance, temporary restraining
order, temporary or permanent injunction or any other equitable remedy which may then be available; 
 (4) [Employee
acknowledges and understands that Employee is hereby being advised to consult with an attorney prior to executing this Release. Employee also acknowledges and understands that Employee has [twenty-one (21)] days to consider the terms of this Release
before signing it. However, in no event may Employee sign this Release before Employee’s termination date.] 
 (5) [Upon
the signing of this Release by Employee, Employee understands that Employee shall have a period of seven (7) days following 

 
Employee’s signing of this Release in which Employee may revoke this Release. Employee understands that this Release shall not become effective or enforceable until this seven (7) day
revocation period has expired, and that neither the Released Parties nor any other person has any obligation [pursuant to the American International Group, Inc. 2013 Long Term Incentive Plan] until eight (8) days have passed since
Employee’s signing of this Release without Employee having revoked this Release. If Employee revokes this Release, Employee will be deemed not to have accepted the terms of this Release.] 

(6) Any dispute arising under this Release shall be governed by the law of the State of New York, without reference to the choice of law
rules that would cause the application of the law of any other jurisdiction 
  

					
	  
	 		 	  

	DATE	 		 	[Employee]

  
 15EX-10.2

 Exhibit 10.2 
 AMERICAN INTERNATIONAL GROUP, INC. 
 2013 LONG TERM INCENTIVE PLAN

 PERFORMANCE SHARE UNITS AWARD AGREEMENT 

1. Status of Award; Defined Terms. American International Group, Inc. (“AIG”) has awarded you
performance share units (this “Award”) pursuant to the AIG 2013 Long Term Incentive Plan (the “Plan”). This Award Agreement (“Award Agreement”), which sets forth the terms and
conditions of your Award, is made pursuant to the Plan and this Award and Award Agreement are subject to the terms of the Plan. Capitalized terms not defined in this Award Agreement have the meanings ascribed to them in the Plan. 

2. Award of PSUs.  
 2.1 AIG hereby awards you the number of performance share units (“PSUs”) specified in Schedule A (the “Target PSUs”). Each PSU constitutes an unfunded and
unsecured promise of AIG to deliver (or cause to be delivered) one Share (or, at the election of AIG, cash equal to the Fair Market Value thereof) in accordance with the Plan. 

2.2 The actual number of PSUs that will be earned is subject to the Committee’s assessment of achievement based on the Performance
Measures established for the Performance Period. 
 2.3 After the end of the Performance Period, the Committee will determine
the percentage of your Target PSUs that will be earned (such earned PSUs, the “Earned PSUs”). The number of Shares covered by your Earned PSUs may range from 0% to 150% of your Target PSUs. Your Earned PSUs will be subject to
vesting and will be paid in accordance with the schedule set forth in the Plan. 
 3. Non-Disclosure. During the
term of your Employment, the Company has permitted and will continue to permit you to have access to and become acquainted with trade secret information of a confidential, proprietary or secret nature. Subject to and in addition to any
confidentiality or non-disclosure requirements to which you were subject prior to the date you execute this Award Agreement, effective as of the date you execute this Award Agreement, for the remainder of your Employment and any time thereafter, you
agree that (i) all confidential, proprietary, trade secret information received, obtained or possessed at any time by you concerning or relating to the business, financial, operational, marketing, economic, accounting, tax or other affairs at
the Company or any client, customer, agent or supplier or prospective client, customer, agent or supplier of the Company will be treated by you in the strictest confidence and will not be disclosed or used by you in any manner other than in
connection with the discharge of your job responsibilities without the prior written consent of the Company or unless required by law, and (ii) you will not remove or destroy any confidential information. 

4. Non-Solicitation. Your Employment with the Company requires exposure to and use of confidential trade secret information
(as set forth in Paragraph 3). Subject to and in addition to any non-solicitation requirements to 

 
which you were subject prior to the date you execute this Award Agreement, effective as of the date you execute this Award Agreement, you agree that (i) for the remainder of your Employment
with the Company and any time thereafter, you will not, directly or indirectly, on your own behalf or on behalf of any other person or entity solicit, contact, call upon, communicate with or attempt to communicate with any customer or client or
prospective customer or client of the Company where to do so would require the use or disclosure of trade secret information, and (ii) for the remainder of your Employment with the Company and for a period of one (1) year after Employment
terminates for any reason, you will not solicit or in any manner encourage or provide assistance to any employee, consultant or agent of the Company to terminate his or her Employment or other relationship with the Company or to leave its employ or
other relationship with the Company for any engagement in any capacity or any other person or entity. 
 5.
Non-Disparagement. You agree that during and after your Employment with AIG, you will not disparage AIG or any of its subsidiaries or affiliates or any of their officers, directors or employees to any person or entity not affiliated with
AIG; provided, however, that nothing herein prohibits you from giving truthful testimony as required by law. 
 6.
Clawback/Repayment. Notwithstanding anything to the contrary contained herein, in consideration of the grant of this Award, you agree that this Award and any payments hereunder will be subject to forfeiture and/or repayment to the extent
provided for in the AIG Clawback Policy, as in effect from time to time, if it is determined in accordance with the policy that a Covered Event (as defined in such policy) has occurred. 

7. Entire Agreement. The Plan is incorporated herein by reference. This Award Agreement, the Plan, the personalized
information in Schedule A, and such other documents as may be provided to you pursuant to this Award Agreement regarding the Performance Measures and the number of your Earned PSUs, constitute the entire agreement and understanding of the parties
hereto with respect to the subject matter hereof and supersede all prior understandings and agreements with respect to such subject matter. 
 8. Notices. Any notice or communication required to be given or delivered to the Company under the terms of this Award Agreement shall be in writing (which may include an electronic writing)
and addressed to the Corporate Secretary of AIG at its principal corporate offices as specified in Section 9E of the Plan or, with respect to the acceptance of an Award, as specified in Schedule A or the Compensation Plan Grant Acceptance
website. Any notice required to be given or delivered to you shall be in writing (including an electronic writing) and addressed to you your company email address or your home address on file in AIG’s payroll or personnel records. All notices
shall be deemed to have been given or delivered upon: personal delivery; electronic delivery or three (3) business days after deposit in the United States mail by certified or registered mail (return receipt requested) or one (1) business
day after deposit with any return receipt express courier (prepaid). 
 9. Governing Law. This Award Agreement
will be governed by and construed in accordance with the laws of the State of New York, without regard to principles of conflict of laws. 

 IN WITNESS WHEREOF, AMERICAN INTERNATIONAL GROUP, INC. has caused this Award
Agreement to be duly executed and delivered as of the Date of Award specified in Schedule A. 
  

			
	AMERICAN INTERNATIONAL GROUP, INC.
	
	  

	By:	 	Jeffrey Hurd
		 	Executive Vice President and Chief Human Resources Officer

  

 Schedule A 

AIG 2013 Long Term Incentive Plan 
  

			
	Recipient:	  	[First Name] [Last Name]
		
	Employee ID:	  	[Employee ID]
		
	Performance Period:	  	[Performance Period]
		
	Target PSUs:	  	[Number of PSUs]
		
	Date of Award:	  	[Award Date]

  

									
	Receipt	  	
	Acknowledged:	  	  
	  	  

		  	Signature	  		  		  	Date
			
	Address:	  	  
	  	
		  	Street	  		  		  	
			
		  	  
	  	
		  	City,	  	State	  	Zip Code	  	

 In order to be eligible to receive your 2013 LTIP award, you must agree to and either electronically consent or sign the
Award Agreement within 90 days of the receipt of this communication. If you do not electronically consent to or sign the Award Agreement within 90 days, you may forfeit your Award. There are several ways to submit your
signed Award Agreement (please include all four pages of the Award Agreement when you submit it): 
  

	 	1.	You may scan the Award Agreement and email it to Joyce Chan at globalcompensation@aig.com. Please put the words “2013 LTIP Award Agreement” in the
subject line. OR 

  

	 	2.	You may fax the Award Agreement to Joyce Chan 1-877-831-4545. Please put the words “2013 LTIP Award Agreement” in the subject line. OR

  

	 	3.	You may mail it to: Joyce Chan 

                     AIG Global
Compensation 

                     180 Maiden
Lane, 22nd Floor 

                     New York,
NY 10038

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