Document:

exv10w14

 

Exhibit 10.14

AWARD TERMS OF

PERFORMANCE-BASED RESTRICTED STOCK UNITS GRANTED UNDER THE

DUPONT EQUITY AND INCENTIVE PLAN

	 	 	 
	Introduction

	 	You have been granted performance-based restricted DuPont common stock units under the E.I. du Pont de
Nemours and Company Equity and Incentive Plan (“Plan”), subject to the following Award Terms. This grant
is also subject to the terms of the Plan, which is hereby incorporated by reference. However, to the
extent that an Award Term conflicts with the Plan, the Plan shall govern. A copy of the Plan, and other Plan-related materials, such as the Plan prospectus, are available at:
	 
	 	 
	 

	 	www1.lvs.dupont.com/employeebenefits/sharesandstockoption.html.
	 
	 	 
	Date of Grant

	 	[___]
	 
	 	 
	Type of Award

	 	Performance-based restricted DuPont common stock units
	 
	 	 
	Dividend Equivalents

	 	Dividends payable on the total number of shares represented by your units (including whole and fractional units)
will be allocated to your account in the form of units (whole and fractional) based upon the closing stock price on the date of the
dividend payment. Dividend equivalent units will be determined after the end of the Performance Period and credited to your account
at that time based on the performance-adjusted number of units in your account. Dividend equivalent units will be calculated by
taking the final performance-adjusted units and calculating the dividend equivalent units for the first dividend payment date for
the Performance Period. The resulting number of dividend equivalent units from the first dividend payment date will be added to the
final performance-adjusted number of units before calculating the dividend equivalent units for the second dividend payment date
during the Performance Period. This process will be repeated for each subsequent dividend payment date during the Performance
Period.
	 
	 	 
	Performance Period

	 	January 1, 2008- December 31, 2010
	 
	 	 
	Vesting Terms

	 	You may not sell, gift, or otherwise transfer or dispose of any of the units.
	 
	 	 
	 

	 	If you remain an active employee of DuPont from the Date of Grant through
the last day of the Performance Period, the number of units that have
vested as of the end of the Performance Period, if any, will be based on
the achievement of the Performance Metrics set forth below. Except as set
forth below, if you terminate employment with DuPont after the Date of
Grant but prior to the last day of the Performance Period, unvested units will be forfeited. In
the event of a Change of Control (as defined in the Plan), the Performance
Metrics set forth below will be deemed to be achieved at the target level
(100% of target award earned) and prorated for the portion of the
Performance Period preceding the Change of Control.

 

 

	 	 	 
	Performance
	 	 
	Metrics

	 	The final number of units earned is based upon our revenue
growth and total shareholder return relative to a group of our
peer companies.
	 
	 	 
	 

	 	Performance and payout are determined independently for each
metric. The final overall award is the sum of the two
elements

	 	 	 	 	 	 	 	 	 
	Revenue Payout %
x Target Award
x 50%

	 	+		TSR Payout %
x Target Award
x 50%

	 	=	 	 
Final Award
 

	

	 	 	 		 	 	 	 
	

	 	 	 	
	 	
	 	
	

	 	
	 		 	 	 	 

	 	 	 
	 

	 	1. Revenue growth
	 
	 	 
	 

	 	Revenue growth is measured based on revenue/sales as reported in company
filings and adjusted for major acquisitions/divestitures, but only if the
aggregate of major acquisitions/divestitures totals 15% or more of total
revenue in a fiscal year. A major acquisition/divestiture is one that
accounts for at least 5% of total revenue.

	 	 	 	 	 	 
	 	Revenue
Growth
Percentile Ranking
	 	 	Percent of Target Award
Earned	 
	 	£ 25th
	 	 	0%	 
	 	25th*
	 	 	25% (threshold)	 
	 	50th*
	 	 	100% (target)	 
	 	75th*
	 	 	200% (maximum)	 
	 

 

			
	*	 	Interim points are interpolated on a straight-line basis

	 	 	 
	 

	 ̈ 	For each peer company, revenue growth is based on revenue for the
fiscal year preceding the Performance Period (e.g., 12/31/2007)
compared to revenue for the last fiscal year of the Performance
Period (e.g., 12/31/2010)
	 
	 	 
	 

	 ̈ 	Based on the table above, DuPont’s percentile rank in revenue
growth against its peer companies is translated into a percentage (of
target) payout for 50% of the Award.
	 
	 	 
	 

	2. 	Total Shareholder Return (TSR)
	 
	 	 
	 

	 	TSR represents the total return on a company’s common stock to an investor
(stock price appreciation plus dividends).

	 	 	 	 	 	 
	 	TSR
Percentile Ranking
Goal
	 	 	Percent
of Target Award
Earned	 
	 	£ 25th
	 	 	0%	 
	 	25th*
	 	 	25% (threshold)	 
	 	50th*
	 	 	100% (target)	 
	 	75th*
	 	 	200% (maximum)	 
	 

 

			
	*	 	Interim points are interpolated on a straight-line basis

 

 

	 	 	 
	 

	For this purpose, TSR is determined as follows:

	 	 	 
	 	TSR =

	Change in Stock Price + Dividends Paid
	 

	 	 

	 

	 	Beginning Stock Price

	 	 	 
	 

	 ̈ 	Beginning Stock Price: average closing price of the stock over the
20 trading days immediately prior to the first day of the Performance
Period.
	 
	 

	 ̈	Ending Stock Price: average closing price of the stock over the
last 20 trading days of the Performance Period.
	 
	 

	 ̈ 	Change in Stock Price: difference between the Beginning Stock
Price and the Ending Stock Price.
	 
	 

	 ̈ 	Dividends Paid: total of all dividends paid on one share of stock
during the applicable calendar quarter(s) during the Performance
Period, provided that dividends shall be treated as though they are
reinvested on day of payment based on closing price of the stock on
that day.
	 
	 

	 ̈	Based on the table above, the Company’s percentile rank in TSR
against its peer companies is translated into a percentage (of
target) payout for 50% of the Award.
	 
	 	 
	Payment

	 	As soon as practicable during your first taxable year ending after the last day of the
Performance Period, vested units (including dividend equivalents accruing after the end of the
Performance Period and prior to the payment date), if any, will be paid to you or your
beneficiary (or estate, if there is no beneficiary), as applicable, in one share of DuPont
common stock for each whole unit and a cash payment for any fraction of a unit. The value of
each fractional unit will be based on the average high and low prices of DuPont common stock
as reported on the Composite Tape of the New York Stock Exchange as of the effective date of
payment.

Termination

of Employment

	 	 	 	 	 
	 

	 	Due to Retirement (as defined in the applicable
pension or retirement plan or plan company policy),
Lack of Work, Divestiture to Entity Less Than 50%
Owned by DuPont, Total and Permanent Disability, or
Death
	 	If you are an active employee for six months following the Date of Grant
and are an active employee through the date of retirement, disability,
death or termination of employment, the units will remain subject to the
Vesting Terms. However, the number of units will be prorated based on
the number of months you were employed by DuPont from the Date of Grant
through the end of the Performance Period.

 

 

	 	 	 	 	 
	 
	 	 	 	 
	 

	 	Due to Any Other Reason (such as voluntary termination)
	 	Units will be forfeited as of the date on which you terminate employment.

	 	 	 
	Other Forfeiture

	 	If you engage in misconduct, the Company may demand that you repay this Award, or

cash payments you received as a result of this Award, within ten (10) days following written demand by the Company.
“Misconduct” is defined in the Plan, and includes, but is not limited to,
termination for cause (also defined in the Plan) or the breach of a
noncompete or confidentiality agreement in your employment agreement.
	 
	 	 
	Change of Control

	 	In the event of a Change of Control in which the
consideration paid to the stockholders is solely cash,
the Compensation Committee may provide that any units
will be cancelled in exchange for a cash payment equal
to the consideration paid per share of stock in the
Change of Control multiplied by the number of your
units.
	 
	 	 
	Deferral

	 	If you are an officer of the Company, you may defer the
settlement of this Award in accordance with the
procedures established by the Company for that purpose.
	 
	 	 
	Withholding

	 	Shares of DuPont common stock otherwise deliverable in
settlement of the units will be automatically used to
satisfy withholding for federal, state, and local taxes.
Where share withholding is not permitted by local law,
the Company is authorized to withhold from other amounts
due you (or your beneficiary, as applicable) or require
payment of the same from you (or your beneficiary, as
applicable). For more information regarding withholding
procedures, please refer to the Plan prospectus.exv10w15

 

Exhibit 10.15

SALARY DEFERRAL & SAVINGS RESTORATION

PLAN

Originally Adopted — April 26, 1994

Last Amended – January 1, 2008

E. I. du Pont de Nemours and Company

 

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SALARY DEFERRAL & SAVINGS RESTORATION PLAN

I. PURPOSE

     The purpose of this Plan is to provide an eligible employee with the opportunity to
defer, until termination of employment, receipt of salary that, because of compensation
limits imposed by law, is ineligible to be considered in calculating benefits within the
Company’s tax-qualified defined contribution plan(s) and thereby recover benefits lost
because of that restriction.

II. ADMINISTRATION

     The administration of this Plan is vested in the Board of Benefits and Pensions appointed
by the Company. The Board may adopt such rules as it may deem necessary for the proper
administration of the Plan, and may appoint such person(s) or group(s) as may be judged
necessary to assist in the administration of the Plan. The Board’s decision in all matters
involving the interpretation and application of this Plan shall be final. The Board shall
have the discretionary right to determine eligibility for benefits hereunder and to construe
the terms and conditions of this Plan.

 

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III. ELIGIBILITY

     An employee of the Company who is participating in the Company’s tax-qualified
defined contribution plans(s) and whose annual base compensation exceeds the amount
prescribed in Internal Revenue Code Section 401(a)(17) shall be eligible to make
Participant Contributions and have matching Company Contributions credited to his Account
under this Plan. An employee of the company who is eligible to participate in the
Company’s tax-qualified defined contribution plan(s) and whose compensation (as defined in
the tax-qualified defined contribution plan in which the individual participates) exceeds
the amount prescribed in Internal Revenue Code Section 401(a)(17) shall be eligible to
share in Company Non-elective Contributions under this Plan. Effective January 1, 2007
employees eligible to participate in the Retirement Savings Plan shall not be eligible to
participate in this Plan.

     For purposes of this Plan, the term “Company” means E.I. du Pont de Nemours and
Company, any wholly-owned subsidiary or part thereof and any joint venture, partnership,
or other entity in which E.I. du Pont de Nemours and Company has an ownership interest,
provided that such entity (1) adopts this Plan with the approval of the E.I. du Pont de
Nemours and Company and (2) agrees to make the necessary financial commitment in respect
of any of its employees who become Participants in this Plan.

 

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IV. PARTICIPANTS’ ACCOUNTS

	 	(A)	 	          Participant Contributions. A Participant may elect to defer receipt of a percentage of
compensation (as defined in the tax-qualified defined contribution in which the individual
participates) in excess of the amount prescribed in Internal Revenue Code Section 401(a)(17),
and have the dollar equivalent of the deferral percentage credited to a Participant Account
under this Plan. The deferral percentage elected under this Plan shall not exceed 22%. Except
as provided below, such deferral election will be made prior to the beginning of each calendar
year and will be irrevocable for that calendar year.
	 
	 	 	 	          For purposes of a Participant’s first year of participation in this Plan, the
compensation deferral election must be made within 30 days of the date the employee
first becomes eligible to participate in the Plan, and no later than 30 days prior to
the first day of the month for which compensation is deferred, and will be
irrevocable for the remainder of that calendar year.
	 
	 	(B)	 	          Company Contributions. To the extent that a Participant makes a deferral election under
the terms of subparagraph (A) above, the Company will credit to that Participant’s Account
in this Plan an amount equivalent to the company matching contribution that would be
provided to that Participant under the terms of the Company’s tax-qualified defined
contribution plan(s) in which (s)he is participating.

 

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	 	(C)	 	          Company Non-elective Contributions. For each employee eligible to participate in this
Plan, who is eligible to participate in the Savings and Investment Plan, whether or not he
or she makes a deferral election under the terms of subparagraph (A) above, the Company
will credit to that Participant’s Account in this Plan an amount equal to 3% of the
employee’s compensation (as defined in the Savings and Investment Plan) in excess of the
amount prescribed in Internal Revenue code Section 401(a) (17).
	 
	 	(D)	 	          Earnings Equivalents. Credits for Participant Contributions and Company Contributions
shall be treated as having been invested in one or more of the investment options
available for the ongoing deposit of new employee contributions in the Savings &
Investment Plan of E. I. du Pont de Nemours and Company. Additional credit (or debit)
amounts will be posted to the Participant’s Account in this Plan based on the performance
of those investment options.
	 
	 	 	 	          The Participant shall have the right to:

	 	(1)	 	designate which of the available investment options are to be used in
valuing his/her Account under this Plan, subject to the rules governing investment
direction in the Savings & Investment Plan of E. I. du Pont de Nemours and Company;
and/or
	 
	 	(2)	 	change the designated investment options used in valuing his/her Account
under this Plan, subject to the rules governing investment direction and/or

 

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	 	 	 	transfers among funds in the Savings & Investment Plan of E. I. du Pont de
Nemours and Company.

(E) Credits to Accounts. Participant Contributions, Company Contributions and Earnings
Equivalents shall be credited (or debited) to the Participant’s Account under this Plan as
unfunded book entries stated as cash balances, and will not be payable to Participants until
such time as employment with the Company terminates. The cash balances in Participant Accounts
shall be unfunded general obligations of the Company, and no Participant shall have any claim
to or security interest in any asset of the Company on account thereof.

V. VESTING

     Participant Contributions and Company Contributions and Earnings Equivalents shall be vested
at the time such amounts are credited to the Participant’s Account. Company Non-elective
Contributions and Earnings Equivalents thereto shall be vested after the employee completes 3 years
of service, as defined in the Savings and Investment Plan.

VI. PAYMENT OF BENEFITS

     Amounts payable under this Plan shall be delivered in a cash lump sum as soon as practical
after termination of employment unless the Participant irrevocably elects under rules prescribed
by the Board of Benefits and Pensions to receive payments in a series of annual

 

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installments. Notwithstanding any provision of this Plan to the contrary, amounts payable
to an officer of the Company shall be paid no sooner than the sixth month anniversary of the
employee’s termination date. All payments under this Plan shall be made by, and all expenses of
administering this Plan shall be borne by, the Company.

VII. NON-ASSIGNMENT

No assignment or alienation of the rights and interests of participants, beneficiaries and
survivors under this Plan will be permitted or recognized under any circumstances. Plan benefits
can be paid only to participants, beneficiaries or survivors.

VIII. RIGHT TO MODIFY

     The Company reserves the right to change or discontinue this Plan in its discretion
by action of the Compensation & Benefits Committee.

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