Document:

Exhibit 105

		

			FORM AGREEMENT

		

		
			RESTRICTED STOCK UNIT GRANT NOTICE
UNDER THE
FRONTDOOR, INC.
2018 OMNIBUS INCENTIVE PLAN
		

		
			Frontdoor, Inc., a Delaware corporation (the “Company”), pursuant to its 2018 Omnibus Incentive Plan (the “Plan”), hereby grants to the Associate set forth below the number of Restricted Stock Units (“RSUs”), set forth below.  The RSUs are subject to all of the terms and conditions as set forth in this grant notice, in the Restricted Stock Unit Terms and Conditions (attached hereto) (the “RSU T&Cs”), and in the Plan, all of which are incorporated herein in their entirety.  Capitalized terms not otherwise defined herein or in the RSU T&Cs shall have the meaning set forth in the Plan.
		

		
			Associate:###PARTICIPANT_NAME###
		

		
			Grant Date:  ###GRANT_DATE###
		

		
			Number of 
		

		
			RSUs:  ###TOTAL_AWARDS###
		

		
			Vesting:Provided that the Associate has not undergone a Termination of service at the time of each applicable vesting date (or event), the RSUs will vest as follows:
		

			
	
			
				 ·
			

			
	
			
			One half (1/2) of the RSUs will vest on the first anniversary of the Grant Date; and

			
	
			
				 ·
			

			
	
			
			One half (1/2) of the RSUs will vest on the second anniversary of the Grant Date; 

		
			provided,  however, that in the event that the Associate undergoes a Termination of service as a result of such Associate’s death or Disability, such Associate shall vest with respect to the RSUs that would have vested on the next scheduled vesting date multiplied by a fraction, the numerator of which is the number of days elapsed since (x) the Grant Date, if such Termination of service occurs on or prior to the first anniversary of the Grant Date, or (y) the most recent prior anniversary of the Grant Date, if such Termination of service occurs after the first anniversary of the Grant Date, and the denominator of which is 365 (or 366, as applicable). 
		

		
			Termination of service:For purposes of these RSUs, “Termination of service” or any corollary or similar term or terms shall have the meaning set forth in the Plan except (i) the Associate ceasing to be employed by the Company but continuing to serve as a Director shall not be a Termination of service unless and until the date upon which such 
		

		 

		

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		Associate also ceases to be a member of the Board; and (ii) the Associate ceasing to be a member of the Board but continuing to be employed by the Company shall not be a Termination of service unless and until the date upon which such Associate also ceases to be employed by the Company.
		

		
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		FRONTDOOR, INC.
		

		
			By: 
Name: 
Title:  
		

		
			
		

		
			 
		

		

		

		 

		

			3

		

		

			[Signature Page to Time-Based Restricted Stock Unit Award]

		

 

		

			 

		

		THE UNDERSIGNED ASSOCIATE ACKNOWLEDGES RECEIPT OF THIS RESTRICTED STOCK UNIT GRANT NOTICE, THE TERMS AND CONDITIONS AND THE PLAN, AND, AS AN EXPRESS CONDITION TO THE GRANT OF RESTRICTED STOCK UNITS HEREUNDER, AGREES TO BE BOUND BY THE TERMS OF THIS RESTRICTED STOCK UNIT GRANT NOTICE, THE TERMS AND CONDITIONS AND THE PLAN.
		

		
			﻿
		

		
			Associate
		

		
			﻿
		

		
			_______________________________
		

		
			###PARTICIPANT_NAME###
		

		
			 
		

		

		

		 

		

			4

		

		

			[Signature Page to Time-Based Restricted Stock Unit Award]

		

 

		

			 

		

		TERMS AND CONDITIONS
OF
RESTRICTED STOCK UNITS
UNDER THE
FRONTDOOR, INC.
2018 OMNIBUS INCENTIVE PLAN
		

		
			Pursuant to the Restricted Stock Unit Grant Notice (the “Grant Notice”) delivered to the Associate (as defined in the Grant Notice), and subject to the terms of these Restricted Stock Unit Terms and Conditions (these “RSU T&Cs”) and the Frontdoor, Inc. 2018 Omnibus Incentive Plan (the “Plan”), Frontdoor, Inc., a Delaware corporation (the “Company”), and the Associate agree as follows.  Capitalized terms not otherwise defined herein shall have the same meaning as set forth in the Plan and the Grant Notice.  
		

			
	
			
				 1.
			Grant of Restricted Stock Units.  Subject to the terms and conditions set forth herein and in the Plan, the Company hereby grants to the Associate the number of Restricted Stock Units (the “RSUs”) provided in the Grant Notice.  The Company may make one or more additional grants of Restricted Stock Units to the Associate under these RSU T&Cs by providing the Associate with a new Grant Notice, which may also include any terms and conditions differing from these RSU T&Cs to the extent provided therein.  The Company reserves all rights with respect to the granting of additional Restricted Stock Units and makes no implied promise to grant additional Restricted Stock Units. 

			
	
			
				 2.
			Vesting.  Subject to the conditions contained herein and in the Plan, the RSUs shall vest as provided in the Grant Notice.  

			
	
			
				 3.
			Settlement of RSUs.  Subject to Section 8 hereof, promptly following the date on which any RSUs becomes vested, and in any event no later than March 15th of the calendar year following the calendar year in which such vesting occurs (the “Settlement Date”), the Company shall issue to the Associate or the Associate’s beneficiary, without charge, one (1) share of Company Common Stock for each such vested RSU; provided, however, that the Administrator may, in its sole discretion, elect to (A) pay cash or part cash and part Shares in lieu of issuing only Shares; or (B) defer the issuance of Shares (or cash or part cash and Shares, as the case may be) beyond the Settlement Date if such extension would not cause adverse tax consequences under Section 409A of the Code or any successor provision.  If a cash payment is made in lieu of issuing Shares in respect of such RSUs, the amount of such payment shall be equal to the Fair Market Value per share of the Company Common Stock as of the applicable vesting date (or applicable date of settlement if clause (B) above is applicable).

			
	
			
				 4.
			Treatment of RSUs Upon Termination.  Unless otherwise (x) determined by the Administrator or (y) set forth in the Grant Notice, upon Termination of service of the Associate:

		 

		

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				 (a)
			all vesting with respect to the RSUs shall cease (after taking into account any vesting of Restricted Stock Units as set forth in the Grant Notice); and 

			
	
			
				 (b)
			the unvested RSUs shall be forfeited to the Company by the Associate as of the date of such Termination for no consideration. 

			
	
			
				 5.
			Effect of a Change in Control.  

			
	
			
				 (a)
			Unless otherwise (x) determined by the Administrator or (y) set forth in the Grant Notice, no cancellation, acceleration of vesting or other payment shall occur with respect to any RSU in connection with a Change in Control occurring prior to the third anniversary of the Grant Date, if the Administrator reasonably determines prior to the Change in Control that the Associate shall receive an “Alternative Award” meeting the requirements of the Plan; provided, however, that if within two years following a Change in Control, the Associate’s employment is involuntarily (other than for Cause) terminated or the Associate resigns with Good Reason (as defined below), at a time when any portion of the Alternative Award is unvested, the unvested portion of such Alternative Award shall immediately vest in full and such Associate shall be provided with either cash or marketable stock equal to the fair market value of the stock subject to the Alternative Award on the date of termination.

			
	
			
				 (b)
			For purposes hereof, “Good Reason” means, without the Associate’s written consent, the occurrence of any of the following events:

			
	
			
				 (i)
			The reduction in any material respect in the Associate’s position(s), authorities or responsibilities that the Associate had with the Company immediately prior to the time of the Change in Control;

			
	
			
				 (ii)
			A material reduction in the Associate’s annual rate of base salary, annual target cash bonus opportunity or annual target long-term incentive opportunity, each in effect as of immediately prior to the date of the Change in Control; or

			
	
			
				 (iii)
			A material change in the location of the Associate’s location of work which will be at least more than 50 miles from the Associate’s place at work at the Company immediately prior to the date of the Change in Control.

		
			If the Associate determines that Good Reason exists, the Associate must notify the Company in writing, within ninety (90) days following the initial existence of such grounds that the Associate determines constitutes Good Reason, or else such event shall not constitute Good Reason under the terms of the Associate’s employment.  If the Company remedies such event within thirty (30) days following receipt of such notice, the Associate may not terminate employment for Good Reason as a result of such event (the “Cure Period”).  In the event the Company does not timely remedy such event, the Associate must terminate his employment ninety (90) days following the end of the Cure Period. 
		

			
	
			
				 6.
			Dividend Equivalents.  If the Company pays any cash dividend or similar cash distribution on the Company Common Stock, the Company shall credit to the Associate’s account with additional RSUs in an amount equal to (a) the product of (i) the number of the Associate’s RSUs as of the record date for such distribution times (ii) the per share amount of such 
		

		 

		

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			dividend or similar cash distribution on Company Common Stock, divided by (b) the Fair Market Value on the date such additional RSUs are so credited, rounded down to the nearest whole number of shares.  If the Company makes any dividend or other distribution on the Company Common Stock in the form of Company Common Stock or other securities, the Company will credit the Associate’s account with that number of additional shares of Company Common Stock or other securities that would have been distributed with respect to that number of shares of Company Common Stock underlying the Associate’s RSUs as of the record date thereof.  Any cash amounts or shares of Company Common Stock or other securities credited to the Associate’s account shall be paid to the Associate on the applicable settlement date.

			
	
			
				 7.
			Restriction on Transfer; Non-Transferability of RSUs.  The RSUs are not assignable or transferable, in whole or in part, and they may not, directly or indirectly, be offered, transferred, sold, pledged, assigned, alienated, hypothecated or otherwise disposed of or encumbered (including, but not limited to, by gift, operation of law or otherwise).  Except as otherwise provided herein, no assignment or transfer of the RSUs, or of the rights represented thereby, whether voluntary or involuntary, by operation of law or otherwise, shall vest in the assignee or transferee any interest or right herein whatsoever, but immediately upon such attempted assignment or transfer the RSUs shall terminate and become of no further effect.  

			
	
			
				 8.
			Tax Withholding.  Any applicable tax withholding requirements in connection with the RSUs shall be satisfied in accordance with Section 15.11 of the Plan.

			
	
			
				 9.
			Restrictive Covenant Agreement.  The Associate acknowledges and agrees that as a condition of receipt of the grant of the RSUs the Associate shall execute and deliver to the Company a Noncompetition, Assignment of Work Product and Confidentiality Agreement (the “Restrictive Covenant Agreement”), in the form attached hereto as Exhibit A, the provisions of which are hereby incorporated by reference.  The Associate acknowledges that the Associate has read and understands such covenants, including, specifically, the scope and duration thereof, and acknowledges and agrees that the terms of such Restrictive Covenant Agreement are in consideration for the Associate’s receipt of the grant of the RSUs under the Grant Notice, the Associate’s receipt of other benefits provided in the Grant Notice, these RSU T&Cs, the Plan and elsewhere, and the Associate’s access to Confidential Information (as defined in the Restrictive Covenant Agreement).  The Restrictive Covenant Agreement is in addition to and does not supersede any other agreements between the Associate and the Company and its Subsidiaries prohibiting competition with the Company and its Subsidiaries.  No provisions in the Plan shall narrow the restrictions of, or terminate, the Restrictive Covenant Agreement and in the event of any inconsistency between the Restrictive Covenant Agreement and the Plan, the Restrictive Covenant Agreement shall govern.  Nothing in the Restrictive Covenant Agreement shall be construed to restrict the right of an attorney to practice law to the extent protected by statute, common law or applicable rules of professional conduct.

			
	
			
				 10.
			Miscellaneous.

			
	
			
				 (a)
			Incorporation of Forfeiture Provisions.  The Associate acknowledges and agrees that, pursuant to the Plan, he or she shall be subject to the Company’s Clawback Policy and 
		

		 

		

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			any generally applicable disgorgement or forfeiture provisions set forth in Article XIII of the Plan as of the Grant Date or as required by applicable law after the Grant Date.

			
	
			
				 (b)
			Dispute Resolution.  Any dispute or controversy between the Associate and the Company, whether arising out of or relating to these RSU T&Cs, the breach of these RSU T&Cs, or otherwise, shall be resolved in accordance with the Frontdoor We Listen Dispute Resolution Plan then in effect.  Notwithstanding the foregoing, the Associate agrees that the Company may seek a temporary restraining order and/or preliminary injunction in any court of competent jurisdiction, without the posting of a bond, in order to preserve the status quo or to enforce the restrictive covenants contained on the Restrictive Covenant Agreement.

			
	
			
				 (c)
			Authorization to Share Personal Data.  The Associate authorizes any Affiliate of the Company that employs the Associate or that otherwise has or lawfully obtains personal data relating to the Associate to divulge or transfer such personal data to the Company or to a third party, in each case in any jurisdiction, if and to the extent appropriate in connection with these RSU T&Cs or the administration of the Plan.

			
	
			
				 (d)
			No Rights as Stockholder; No Voting Rights.  The Associate shall have no rights as a stockholder of the Company with respect to any RSUs or Shares covered by the RSUs until the delivery of the Shares. 

			
	
			
				 (e)
			No Right to Continued Employment.  Nothing in these RSU T&Cs shall be deemed to confer on the Associate any right to continue in the employ of the Company or any Subsidiary, or to interfere with or limit in any way the right of the Company or any Subsidiary to terminate such employment at any time.

			
	
			
				 (f)
			Binding Effect; Benefits.  These RSU T&Cs shall be binding upon and inure to the benefit of the parties to these RSU T&Cs and their respective successors and assigns.  Nothing in these RSU T&Cs, express or implied, is intended or shall be construed to give any person other than the parties to these RSU T&Cs or their respective successors or assigns any legal or equitable right, remedy or claim under or in respect of any agreement or any provision contained herein.

			
	
			
				 (g)
			Waiver; Amendment.

			
	
			
				 (i)
			Waiver.  Any party hereto or beneficiary hereof may by written notice to the other party (A) waive compliance with any of the conditions or covenants of the other party contained in these RSU T&Cs and (B) waive or modify performance of any of the obligations of the other party under these Terms and Condition.  Except as provided in the preceding sentence, no action taken pursuant to these RSU T&Cs, including, without limitation, any investigation by or on behalf of any party or beneficiary, shall be deemed to constitute a waiver by the party or beneficiary taking such action of compliance with any representations, warranties, covenants or agreements contained herein.  The waiver by any party hereto or beneficiary hereof of a breach of any provision of these RSU T&Cs shall not operate or be construed as a waiver of any preceding or succeeding breach and no failure by a party or beneficiary to exercise any right or privilege hereunder shall be deemed a waiver of such party’s or beneficiary’s rights or privileges hereunder or shall be deemed 
		

		 

		

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			a waiver of such party’s or beneficiary’s rights to exercise the same at any subsequent time or times hereunder.

			
	
			
				 (ii)
			Amendment.  These RSU T&Cs may not be amended, modified or supplemented orally, but only by a written instrument executed by the Associate and the Company.

			
	
			
				 (h)
			Assignability.  Neither these RSU T&Cs nor any right, remedy, obligation or liability arising hereunder or by reason hereof shall be assignable by the Company or the Associate without the prior written consent of the other party.

			
	
			
				 (i)
			Applicable Law and Forum.  These RSU T&Cs shall be governed by and construed in accordance with the law of the State of Delaware regardless of the application of rules of conflict of law that would apply the laws of any other jurisdiction.  Subject to the dispute resolution provision contained herein, any judicial action to enforce, interpret or challenge these RSU T&Cs shall be brought in the federal or state courts located in the State of Delaware, which shall be the exclusive forum for resolving such disputes.  Both parties irrevocably consent to the personal jurisdiction of such courts for purposes of any such action.

			
	
			
				 (j)
			Waiver of Jury Trial.  Each party hereby waives, to the fullest extent permitted by applicable law, any right it may have to a trial by jury in respect of any suit, action or proceeding arising out of these RSU T&Cs or any transaction contemplated hereby.  Each party (i) certifies that no representative, agent or attorney of any other party has represented, expressly or otherwise, that such other party would not, in the event of litigation, seek to enforce the foregoing waiver and (ii) acknowledges that it and the other party have been induced to enter into the Agreement by, among other things, the mutual waivers and certifications in this section.

			
	
			
				 (k)
			Section and Other Headings, etc.  The section and other headings contained in these RSU T&Cs are for reference purposes only and shall not affect the meaning or interpretation of these RSU T&Cs.

			
	
			
				 (l)
			Counterparts.  These RSU T&Cs may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which together shall constitute one and the same instrument.  To the extent that the Company has established, either itself or through a third-party plan administrator, the ability to accept these RSU T&Cs electronically, such acceptance shall constitute the Associate’s signature hereto.

			
	
			
				 (m)
			Plan.   The terms and provisions of the Plan are incorporated herein by reference.  In the event of a conflict or inconsistency between the terms and provisions of the Plan or the Grant Notice and the provisions of these RSU T&Cs, the Plan or the Grant Notice, as applicable, shall govern and control.

		
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			9Exhibit 10.1

OneSpan Inc.
2022 Management Incentive Plan (MIP)
​
		1.
	PURPOSE

​
The purpose of the OneSpan Inc. (together with its subsidiaries, the “Company” or “OneSpan”) 2022 Management Incentive Plan (“2022 MIP”) is to share the success of the Company with our leaders and top performers.
​
		2.
	PARTICIPATION

​
Employees participating in the 2022 MIP will be notified in writing. You must be hired before October 1, 2022, to be eligible to participate in the 2022 MIP.
​
		3.
	OVERVIEW

​
Participants in the 2022 MIP are eligible to receive a cash bonus (“Bonus”) based upon a combination of (1) the Company’s achievement against targets for designated performance metrics (“Company Performance Factors”) and (2) your individual performance (the “Individual Performance Factor”). The Company Performance Factors are weighted to account for a total of 80% of your potential Bonus amount and the Individual Performance Factor is weighted to account for 20% of your potential Bonus amount. The weighted Company Performance Factors and Individual Performance Factor are added together to create a Combined Performance Factor, which is used to calculate the amount of your Bonus. More detail on this calculation is provided below in Sections 4 and 5 of this document.
​
In addition to the Company Performance Factors and the Individual Performance Factor, your potential Bonus depends on your eligible target bonus amount, which may be expressed either as a fixed dollar amount or as a percentage of your base salary. If you do not know your eligible target bonus amount, please contact your manager or Human Resources.
​
If you joined OneSpan in 2022, your participation effective date for the 2022 MIP is your hire date and any Bonus will be pro-rated accordingly (unless otherwise set forth in your offer letter or employment agreement, if any).
​
		4.
	PERFORMANCE FACTORS

​
Company Performance Factors - 80% of your potential Bonus amount is calculated based on the Company’s achievement against specified targets for the Company Performance Factors. Company Performance Factors and associated targets are determined by the Compensation Committee (the “Compensation Committee”) of the Company’s Board of Directors (the “Board”).
​
For the 2022 MIP, the two Company Performance Factors are Revenue and Adjusted EBITDA. “Revenue” refers to the Company’s publicly reported revenue, and Adjusted EBITDA is defined in the Company’s publicly reported earnings releases. The Revenue factor is weighted at 60% and the Adjusted EBITDA factor is weighted at 20% (for a total Company Performance Factor weighting of 80%).
​
2022 MIP targets and payout levels for Revenue and Adjusted EBITDA will be communicated to you separately. Different levels of achievement against the Revenue and Adjusted EBITDA targets will correspond to different Bonus payout levels, as follows:
​
		·
	Revenue: The Company must achieve a minimum of 97.7% of the Revenue target in

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order for the Revenue factor to contribute to the Bonus payout calculation. A 97.7% achievement level would correspond to the minimum payout level of 50%; a 100% achievement level would correspond to the target payout level of 100%; and a 109.1% or greater achievement level would correspond to the maximum payout level of 150%.
​
		·
	Adjusted EBITDA: The Company must achieve 100% of the Adjusted EBITDA target in order for the Adjusted EBITDA factor to contribute to the Bonus payout calculation at the target payout level of 100%. There is no payout for achievement levels below 100% of the Adjusted EBITDA target, and the maximum possible payout level for overachievement of the Adjusted EBITDA target is 150%.

​
For achievement levels that fall between the maximum, target, and minimum Revenue and Adjusted EBITDA achievement levels, the corresponding payout levels will be calculated using linear interpolation.
​
Individual Performance Factor - 20% of your potential bonus amount is calculated based on your performance against individual performance objectives set by your manager. These objectives will consist of a mix of metrics tied to the OneSpan 2.0 operational plan and other key business metrics pertinent to your role. Performance that meets expectations will correspond to a 100% payout level for the Individual Performance Factor, and performance that is below or above expectations will be adjusted accordingly.
​
		5.
	EXAMPLE BONUS CALCULATIONS

​
Assume for purposes of these examples that your eligible target bonus amount is $15,000.
​
Example 1:
​
If the Company achieves 97.7% of the Revenue factor and 100% of the Adjusted EBITDA factor, and if your individual performance meets expectations, your Bonus will be paid out at 70% of your eligible target bonus amount, based on a Combined Performance Factor of 70%:
​
	​

	​

	​

	​

	​

	​

	​

	​

	​

	​

	​
	    
	Achievement
Level against
Target
	    
	Payout
Level
	    
	Weight
	    
	Weighted
Factor (Payout
Level*Weight)
	 

	Company Performance Factors
	​
	​
	​
	​
	​
	​
	​
	​
	​

	Revenue
	​
	97.7
	%  
	50
	%  
	60
	%  
	30
	%

	Adjusted EBITDA
	​
	100
	%  
	100
	%  
	20
	%  
	20
	%

	Individual Performance Factor
	​
	100
	%  
	100
	%  
	20
	%  
	20
	%

	Combined Performance Factor (sum of the three weighted factors)
	​
	​
	​
	​
	​
	​
	​
	70
	%

​
The Combined Performance Factor is then applied to the $15,000 eligible target bonus amount for a Bonus payout of $10,500 (70% of $15,000).
​

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​

​

​
Example 2:
​
If the Company achieves 100% of the Revenue factor and 90% of the Adjusted EBITDA factor, and if your individual performance meets expectations, your Bonus will be paid out at 80% of your eligible target bonus amount, based on a Combined Performance Factor of 80%:
​
	​

	​

	​

	​

	​

	​

	​

	​

	​

	​

	​
	    
	Achievement
Level against
Target
	    
	Payout
Level
	    
	Weight
	    
	Weighted
Factor (Payout
Level*Weight)
	 

	Company Performance Factors
	​
	​
	​
	​
	​
	​
	​
	​
	​

	Revenue
	​
	100
	%  
	100
	%  
	60
	%  
	60
	%

	Adjusted EBITDA
	​
	90
	%  
	0
	%  
	20
	%  
	0
	%

	Individual Performance Factor
	​
	100
	%  
	100
	%  
	20
	%  
	20
	%

	Combined Performance Factor (sum of the three weighted factors)
	​
	​
	​
	​
	​
	​
	​
	80
	%

​
The Combined Performance Factor is then applied to the $15,000 eligible target bonus amount for a Bonus payout of $12,000 (80% of $15,000).
​
		6.
	DETERMINATION OF ACHIEVEMENT

​
The Company expects that the assessment of achievement against Company Performance Factors and the Individual Performance Factor for 2022 will be completed during the first quarter of 2023, and that any Bonus earned would be paid out via payroll by the end of that quarter. The Company may adjust these dates depending upon the timing of its year-end audit and other factors.
​
Achievement against the Company Performance Factors is based on the Company’s 2022 financial performance and is approved by Board or the Compensation Committee. The Board or the Compensation Committee may make adjustments to the targets for the Company Performance Factors to address the impact of any mergers, acquisitions or other unexpected activities, developments, trends or events. In addition, achievement of the targets for the Company Performance Factors may, in the Board or Compensation Committee’s discretion, include or exclude the impact of any of the following events that occur during 2022: any reorganization or restructuring transactions; extraordinary nonrecurring items; and significant acquisitions or divestitures.
​
		7.
	GENERAL TERMS

​
Unless otherwise prohibited by applicable law, any Bonus amount is not earned until it is determined based on the Company’s 2022 financial performance as approved by the Board or Compensation Committee. To receive any Bonus under the 2022 MIP, and unless prohibited by applicable law, you must be actively working for the Company at the time payment is made. The 2022 MIP is valid for 2022 only and will not continue to apply for future years. Participants do not have any contractual or otherwise acquired right to MIP participation in any future years. There are no promises or guarantees of payments under the 2022 MIP, and the Company reserves the right to unilaterally alter or discontinue the program at its complete discretion, unless specifically prohibited under local law.

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