Document:

EX-10.10

 

Exhibit 10.10

SEPARATION AGREEMENT, WAIVER AND GENERAL RELEASE

This Agreement sets forth the entire agreement and understanding which has been
reached relative to the cessation of your (Leland C. Launer, Jr.) employment with
MetLife Group, Inc. (“MetLife”). It is fully agreed and understood as follows:

     1. a. As a material inducement to MetLife to enter into this Agreement, you
agree for yourself and your relatives, heirs, executors, administrators, successors,
and assigns that you hereby fully and forever release and discharge MetLife, its
parents, subsidiaries, affiliates, and agents and its past, present, and future
directors, officers, and employees, agents, representatives, employee benefits plans
or funds and the fiduciaries thereof, successors, and assigns (collectively, “the
Company”) from any and all claims, charges, demands, actions, liability, damages, sums
of money, back pay, attorneys’ fees, or rights of any and every kind or nature,
accrued or unaccrued, which you ever had, now have or may have, whether known or
unknown, against the Company arising out of any act, omission, transaction, or
occurrence up to and including the date you execute this Agreement including, but not
limited to, (i) any claim arising out of or related to your employment by the Company
or the discontinuance thereof, (ii) any alleged violations of any federal, state, or
local fair employment practice or benefits laws, including the Age Discrimination in
Employment Act, as amended, or the Older Workers Benefit Protection Act, or the New
Jersey Conscientious Employee Protection Act, or other employee relations statute,
executive order, law, or ordinance, (iii) any alleged violations of any duty or other
employment-related obligation or other obligations arising out of contract, tort,
tortious course of conduct, libel or slander, defamation, public policy, law, or
equity, (iv) any claim on your behalf in any action brought by any administrative
agency or other party (including claims for damages, in whatever form, and for
reinstatement), and (v) any expectation, anticipation, right, or claim to incentive
compensation under any Company incentive compensation plan, including but not limited
to the MetLife Annual Variable Incentive Plan, the Performance Incentive Plan, and,
except as otherwise specifically stated in this Agreement, the MetLife, Inc. 2000
Stock Incentive Plan, the MetLife, Inc. 2005 Stock and Incentive Compensation Plan,
and the Long Term Performance Compensation Plan. You acknowledge that, prior to your
execution of this Agreement, you have been fully informed that your employment is
being discontinued and that any and all claims arising from this discontinuance are
included in this release.

     b. This Agreement does not affect any rights that you may have arising out of
events that occur after you have executed this Agreement or affect any vested benefits
or rights under employee benefit plans under ERISA. Your rights regarding any awards
under the MetLife, Inc. 2005 Stock and Incentive Compensation Plan or the MetLife,
Inc. 2000 Stock Incentive Plan will be governed by the terms of any written award
agreement into which you entered under the applicable plan. This Agreement does not
affect your eligibility for indemnification under the provisions of the By-Laws of
MetLife, Inc. Metropolitan Life Insurance Company and MetLife, on the same basis as
that indemnification is provided to other directors and officers. Further, to the
extent that you accrued any liability based on your actions as a director or officer
of the Company during your employment, such liability will be covered under any
insurance that the Company may procure to cover its directors and officers, on the
same basis as it covers current directors and officers.

     2. As a further material inducement to MetLife to enter into this Agreement, you
agree to cooperate with an provide information to or at the request of the Company,
its attorneys or representatives, upon reasonable notice, at reasonable times and in
reasonable places, including but not limited to, being available for consultation,
preparation for testimony or as a witness in connection with any investigation,
administrative proceeding or litigation relating to any matter in which you were
involved or of which you have knowledge as a result of or in connection with your
employment at the Company. This undertaking is subject to the Company’s obligation to
pay you the reasonable and documented out-of-pocket expenses actually incurred in
complying with your obligations under this Section.

 

 

     3. In consideration for the release set forth in Section 1.a. of this Agreement
and the other promises and terms contained in this Agreement, MetLife agrees to:

a) pay you the sum of $900,000.00 less legally-required withholding as your payment
under the Annual Variable Incentive Plan for 2006, to be paid on the later of the date
on which such payments are made to active employees of the Company in 2007 and the
next available payroll date following Effective Date of this Agreement.

b) pay you the sum of $2,100,000.00 less legally-required withholding on the next
available payroll date following the later of February 28, 2007and the Effective Date
of this Agreement.

c) provide you with outplacement services as described more fully in Exhibit A to
this Agreement.

d) allow you to pay participant contributions at an active employee rate, rather than
the full COBRA rate, for up to the first six (6) months of post-employment continued
(COBRA) medical and/or dental benefits (if you are eligible to continue such
benefits), as, to the extent provided under, and subject to the terms and conditions
of, the applicable Company benefit plans, including the provisions regarding amendment
and termination of those plans.

e) confer on you the benefits of being “Bridge Eligible,” to the extent provided
under, and subject to the terms and conditions of, the applicable Company benefit
plans, including the provisions regarding amendment and termination of those plans.

f) confer on you the benefits of being “Rule of 70 Eligible,” to the extent provided
under, and subject to the terms and conditions of, the applicable Company benefit
plans, including the provisions regarding amendment and termination of those plans.

     You acknowledge that the payments and services provided for above exceed any sums
to which you would otherwise be entitled under any policy, plan, and/or procedure or
any agreement with the Company, and that they represent full and complete
consideration for the release you are giving the Company in this Agreement. If that
release is upheld in an action by you seeking additional consideration for those
claims, you will be in breach of this Agreement. Further, neither this Agreement nor
the payment and benefits to be provided pursuant to this Section 3 in any way
constitutes an admission on the part of the Company as to the violation of any law or
any obligation to you.

     4. By executing this Agreement, you acknowledge that the Company shall have no
obligation to rehire you at any time. You also acknowledge that that the Company has
paid you all the salary and wages it owes you (including any incentive compensation),
that you have been provided with any and all leaves of absences (including those under
the Family and Medical Leave Act or other law) that you have requested or to which you
were entitled, and that you have had the opportunity prior to signing this Agreement
to raise to the Company any concerns or complaints about these or any other matters
regarding your employment and have done so.

     5. You further agree, except for the provision of information to governmental
agencies, that neither you nor your agents, attorneys, or representatives will
publish, publicize, or reveal any Company information obtained by you, your agents,
attorneys, or representatives that relates to: (i) your employment with the Company
or the cessation of your employment with MetLife, (ii) any claims that were raised or
could have been raised in any action as of the date you execute this Agreement, or
(iii) the facts underlying any such claims. You further agree, except for the
provision of information to governmental agencies, that neither you nor your agents,
attorneys, or representatives will communicate in any way to any former, present, or
future employees of the Company or to any person or corporation any information that
relates to your employment with the Company or to any claims which could have been
raised in any action in connection with the cessation of your employment with MetLife
unless required by law to do so. Notwithstanding the other terms of this Section, you
agree to cooperate with MetLife or its counsel to provide information and/or testimony
in connection with any investigations or legal actions in which the Company is a party
or has an interest. You represent and agree that you have delivered or will deliver
to Howard Lorsch (or other person designated by MetLife to receive these items) all
Company property, information, documents, and other materials (including but not
limited to memoranda, correspondence, reports, records, transcripts, notes, records of
conversations, keys, computer and other equipment, and

2

 

identification cards), in whatever form or medium (including papers, e-mail, disks,
tapes, and any and all electronic storage), including all duplicates, copies, or
versions, concerning or in any way related to the business affairs or operations of
the Company, interaction by or among employees, customers, vendors, or other
associates of the Company, or your job duties, responsibilities, assignments, or
actions on behalf of or in furtherance of the interests of the Company, that are in
your custody, possession, or control (“Company Material”). Company Material does not
include documents you received from an authorized representative of the Company solely
regarding your employment relationship with the Company (e.g., summary plan
descriptions, performance evaluations, benefits statements), any policy or product
purchased by you or on your behalf from the Company, or securities of the Company held
by you, or other documents you are entitled by law to retain. You represent that you
have conducted a diligent search for all Company Material prior to executing this
Agreement. You represent that after delivering to Mr. Lorsch a copy of any Company
Material stored electronically on any of your personal hard drives or other
non-portable electronic storage devices that you destroyed such Company Material
stored on such devices, and that you have not knowingly retained any Company Material
in any form. You agree that if you discover or receive any Company Material you will
return such Company Material to Mr. Lorsch (or other person designated by MetLife to
receive these items, or if either person is no longer employed by the Company, to the
MetLife Human Resources Services Center, 500 Schoolhouse Road, Johnstown, PA 15904)
within 48 hours of such discovery.

     6. You resign as President of Institutional Business effective January 18, 2007.
To the extent that you are a director, trustee, or officer of any Company entity, you
hereby resign from such capacity effective immediately and agree to execute any
additional, more specific resignation document the Company may request.

     7. This Agreement is confidential. Except for the provision of information to
governmental agencies, you agree that you will not disclose its existence or contents
to anyone other than your attorneys, financial advisors and spouse or domestic
partner, and only after first informing them of the confidentiality of this Agreement
and securing their agreement to be bound by the same restrictions against disclosure
that apply to you. This Agreement may be used as evidence only in a proceeding in
which you or the Company alleges a breach of this Agreement, and in other disputes
only with respect to facts you or MetLife have acknowledged in this Agreement, and may
not be used for any other purpose. Except for the provision of information to
governmental agencies, you agree to give MetLife ten (10) days written notice in
advance of disclosing this Agreement in the event you are subpoenaed or otherwise
required by law to disclose the existence or contents of this Agreement by mailing to
MetLife’s Law Department located at One MetLife Plaza, Long Island City, NY 11101 a
copy of any such legal demand for such information (or, if you are required to
disclose this Agreement in less than ten (10) days, by overnight delivery to be
delivered to the same address in advance of disclosing this Agreement).

     8. If any provision of this Agreement is held by a court of competent
jurisdiction to be illegal, void or unenforceable, such provision shall be of no force
and effect. However, the illegality or unenforceability of such provision shall have
no effect upon, and shall not impair the enforceability of any other provision of this
Agreement; provided, however, that upon any finding by a court of competent
jurisdiction that the covenant and release provided in Section 1.a. above is illegal,
void, or unenforceable, you agree to execute a release and/or waiver of the same scope
as the release provided in Section 1.a. that is legal and enforceable within
forty-five (45) days of MetLife offering you such a release and/or waiver, and that if
you fail to do so that you will return promptly to MetLife the full amount paid to you
by MetLife pursuant to this Agreement.

     9. If your employment is not discontinued by February 28, 2007, this Agreement
will automatically be null and void. Your date of discontinuance will not be affected
by your application for, receipt of, or appeal from any denial of disability benefits.

     10. You acknowledge that MetLife has advised you in writing that you have twenty
one (21) days in which to review this Agreement and fully consider its terms prior to
signing it and that you should consult with legal counsel prior to signing this
Agreement. You may accept this Agreement by fully executing it and returning it to
MetLife in accordance with the return instructions provided with this Agreement by no
later than 5:00 p.m. on the twenty-first (21st) day after your receipt of
it. After you have executed this Agreement, you will have seven (7) days to revoke
this Agreement, which you may do by indicating your desire to do so in writing
directed to MetLife in accordance with the return instructions provided with this
Agreement which must be received by MetLife no later than 5:00 p.m. on the seventh

3

 

(7th) day following the date on which you executed this Agreement. This Agreement
will become effective on the eighth (8th) day following your execution of this
Agreement (the “Effective Date”), provided you have not revoked it. In the event that
you do not accept this Agreement as set forth above, or in the event that you revoke
this Agreement prior to its Effective Date, this Agreement, including but not limited
to the obligation of MetLife to make any payment or provide any benefit pursuant to
Section 3, shall automatically be null and void.

     11. You affirm that this Agreement has been executed voluntarily by you, and may
not be changed except in a writing that specifically references this Agreement and
that is signed by you and an officer of MetLife. With the exception of any Agreement
to Protect Corporate Property that you may have executed, or written award agreement
under the MetLife, Inc. 2005 Stock and Incentive Compensation Plan or the MetLife,
Inc. 2000 Stock Incentive Plan into which you may have entered during your employment
with the Company, which remain in full force and effect, this Agreement constitutes
the full understanding between us, although in the event of any inconsistency between
the terms of this Agreement and of the Summary Plan Description of the MetLife Plan
for Transition Assistance for Officers, the terms of the Summary Plan Description
shall govern. The definitions in that Summary Plan Description will be used for any
capitalized terms used in this Agreement that is not defined in this Agreement. You
affirm that no other promises or agreements of any kind have been made to you by any
person or entity whatsoever to cause you to sign this Agreement, and that you fully
understand the meaning and intent of this Agreement.

     12. Per Section 1(b) of the Employment Continuation Agreement
dated September 19, 2003 between MetLife, Inc. and yourself (“Employment Continuation Agreement”), your
Employment Continuation Agreement terminates on January 18, 2007, and is void and
without effect after that date, and you are not and will not be entitled to receive
any payments or benefits thereunder pursuant to its terms.

	 	 	 	 	 
	 
	/s/ Leland
C. Launer, Jr.	 	Feb. 16,
2007	 	 
	Signature	 	Date	 	 

STATE OF                                         )

):

COUNTY OF                                      )

On this                      day of                                         , 2007, before me personally came Leland C.
Launer, Jr., to me known and known to me to be the person described in and who
executed this Separation Agreement, Waiver, and General Release, and he duly
acknowledged to me that he executed the same.

	 	 	 	 	 
	 	 	 
	Notary Public
Notary Public Commission Expiration Date:
	 	 
	 	 	 

	 	 	 	 	 
	MetLife Group, Inc.

	 	 
	By:  	/s/
James N. Heston 	 	 
	 	 	 	 
	 	 	 	 

	 	 	 	 	 
	
James N. Heston, Executive VP

	 	
February 12, 2007
	 	 
	 

Name & Title

	 	 

Date
	 	 

4EX-10.27

 

Exhibit 10.27

MANAGEMENT PERFORMANCE SHARE AGREEMENT

     MetLife, Inc. confirms that, on [grant date] (the “Grant Date”), it granted you, [name],
[number] Performance Shares (your “Performance Shares”). Your Performance Shares are subject to
the terms and conditions of this Management Performance Share Agreement (this “Agreement”) and the
MetLife, Inc. 2005 Stock and Incentive Compensation Plan (the “Plan”).

     1. Standard Performance Terms.

     (a) The terms of this Section 1 shall be referred to as the “Standard Performance Terms” and
will apply to your Performance Shares except in so far as Sections 2 (Change of Status) or 3
(Change of Control) apply.

     (b) The Performance Period for your Performance Shares will begin on [date], [year] and end
on the December 31 immediately preceding the third anniversary of the beginning of the Performance
Period. After the conclusion of the Performance Period, the Committee shall certify in writing the
number of Performance Shares payable in accordance with Section 1(c) (your “Final Performance
Shares”), and your Final Performance Shares will be due and payable in Shares.

     (c) The Committee will determine your Final Performance Shares by multiplying your
Performance Shares by the “Performance Factor.” The Performance Factor means a percentage (from
zero to 200%) which is the sum of two other percentages (each from zero to 100%), described in (1)
and (2) below.

     (1) The first percentage will be based on the Company’s performance with respect to
Change in Annual Net Operating Income Available to Common Shareholders Per Share during the
Performance Period relative to the other companies in the Standard and Poor’s Insurance
Index, determined according to Table 1 of Schedule A to this Agreement. For this purpose,
(a) “Net Operating Income Available to Common Shareholders Per Share” for any period means
net income, excluding: (1) after-tax net investment gains and losses, (2) after-tax
adjustments related to net investment gains and losses, (3) after-tax discontinued
operations other than discontinued real estate, and (4) preferred stock dividends, in each
case determined according to generally accepted accounting principles, divided by the
weighted average number of shares outstanding during such period determined on a diluted
basis under generally accepted accounting principles; and (b) “Change in Annual Net
Operating Income Available to Common Shareholders Per Share” means Net Operating Income
Available to Common Shareholders Per Share in the final calendar year of the Performance
Period divided by Net Operating Income Available to Common Shareholders Per Share in the
calendar year immediately preceding the beginning of the Performance Period.

     (2) The second percentage will be based on the Company’s performance with respect to
Proportionate Total Shareholder Return during the Performance Period relative to the other
companies in the Standard and Poor’s Insurance Index, determined according to Table 2 of
Schedule A to this Agreement. For this purpose, (a) “Initial Closing Price” means the
average Closing Price (and, in the case of a company other than the Company, the most
closely analogous price) in the twenty (20) trading days prior to the first day of the
Performance Period; (b) “Final Closing Price” means the average Closing Price (and, the case
of a company other than the Company, the most closely analogous price) in the twenty (20)
trading days prior

 

 

to and including the final day of the Performance Period; (c) “Total Shareholder
Return” means the change (plus or minus) from the Initial Closing Price to the Final Closing
Price, plus dividends (if any) actually paid on Shares (or, in the case of a company other
than the Company, the most closely analogous security) on a reinvested basis from the first
day of the Performance Period to and including the last day of the Performance Period; and
(d) “Proportionate Total Shareholder Return” means Total Shareholder Return divided by
Initial Closing Price.

     (d) For these purposes, the Standard & Poor’s Insurance Index means each company which is
described by either of the following criteria:

     (1) the company is included in such index for the entirety of the Performance Period; or

     (2) the company is included in such index on the final day of the Performance Period,
and at least fifty percent (50%) of the securities entitled to vote for the directors of
that company were owned, directly or indirectly, immediately after and as the result of a
merger, acquisition, or other similar corporate transaction, by a majority of the
shareholders (determined immediately prior to such transaction) of a company that was
either: (i) included in such index on the first day of the Performance Period, or (ii)
described by this Section 1(d)(2).

     2. Change of Status. For purposes of this Section 2, your transfer between the
Company and an Affiliate, or among Affiliates, will not be a termination of employment. In the
event of a Change of Control, any applicable terms of Section 3 (Change of Control) will supersede
the terms of this Section 2.

     (a) Long-Term Disability. In the event you qualify for long-term disability benefits
under a plan or arrangement offered by the Company or an Affiliate for its Employees, the Standard
Performance Terms will continue to apply to your Performance Shares. Once this provision applies,
no other change of status described in this Section 2 (except the provision regarding termination
for Cause) will affect your Performance Shares, even if you subsequently return to active service
or your employment with the Company or an Affiliate terminates other than for Cause.

     (b) Death. In the event that your employment with the Company or an Affiliate
terminates due to your death, your Performance Shares will be due and payable in Shares (or cash at
a value equal to the Closing Price on the date of your death, if so determined by the Committee).

     (c) Retirement. If your employment with the Company or an Affiliate terminates
(other than for Cause) on after your early retirement date or normal retirement date (in each case
determined under any ERISA qualified pension plan offered by the Company or an Affiliate in which
you participate) (“Retirement”), the Standard Performance Terms will continue to apply to your
Performance Shares.

     (d) Bridge Eligibility. If your employment with the Company or an Affiliate
terminates (other than for Cause) with bridge eligibility for retirement-related medical benefits
(determined under an ERISA qualified benefit plan offered by the Company or an Affiliate in which
you participate, if any) (“Bridge Eligibility”), and your separation agreement (offered to you
under the severance program offered by the Company or an Affiliate to its Employees) becomes final,
the Standard Performance Terms will continue to apply to your Performance Shares.

2

 

     (e) Termination for Cause. In the event that your employment with the Company or an
Affiliate terminates for Cause, your Performance Shares will be forfeited immediately.

     (f) Other Termination of Employment. Unless the Committee determines otherwise, if
no other provision in this Section 2 regarding change of status applies, including, for example,
your voluntary termination of employment, your termination without Retirement or Bridge
Eligibility, or your termination by the Company or an Affiliate without Cause, your Performance
Shares will be forfeited immediately. To the extent you are offered a separation agreement by the
Company or an Affiliate, the value of your forfeited Performance Shares may, in the discretion of
the Company or Affiliate, be considered in determining the terms of that offer.

     3. Change of Control.

     (a) Except as provided in Section 3(b), and unless otherwise prohibited under law or by
applicable rules of a national security exchange, if a Change of Control occurs, your Performance
Shares will be due and payable in the form of cash equal to the number of your Performance Shares
multiplied by the Change of Control Price, and such sum shall be paid to you within thirty (30)
days of the Change of Control.

     (b) The terms of Section 3(a) will not apply to your Performance Shares if the Committee
reasonably determines in good faith, prior to the Change of Control, that you have been granted an
Alternative Award for your Performance Shares pursuant to Section 15.2 of the Plan.

     4. Nontransferability of Awards. Except as provided in Section 5 or as otherwise
permitted by the Committee, you may not sell, transfer, pledge, assign or otherwise alienate or
hypothecate any of your Performance Shares, and all rights with respect to your Performance Shares
are exercisable during your lifetime only by you.

     5. Beneficiary Designation. You may name any beneficiary or beneficiaries (who may
be named contingently or successively) who may then exercise any right under this Agreement in the
event of your death. Each beneficiary designation for such purpose will revoke all such prior
designations. Beneficiary designations must be properly completed on a form prescribed by the
Committee and must be filed with the Company during your lifetime. If you have not designated a
beneficiary, your rights under this Agreement will pass to and may be exercised by your estate.

     6. Tax Withholding. The Company will withhold from payment made under this Agreement
an amount sufficient to satisfy the minimum statutory Federal, state, and local tax withholding
requirements relating to payment on account of your Performance Shares.

     7. Adjustments. The Committee may, in its discretion, make adjustments in the terms
and conditions of your Performance Shares in recognition of unusual or nonrecurring events
affecting the Company or its financial statements, or in recognition of changes to applicable laws,
regulations, or accounting principles, whenever the Committee determines that such adjustments are
appropriate to prevent unintended dilution or enlargement of the potential benefits of your
Performance Shares. The Committee’s determination in this regard will be conclusive.

     8. Timing of Payment. The Company will make payment to you as soon as reasonably
practicable after such payment becomes payable under this Agreement, unless you have earlier

3

 

deferred such payment in accordance with arrangements offered to you for that purpose. If
Shares are to be paid to you, you will receive evidence of ownership of those Shares.

     9. Closing Price. For purpose of this Agreement, “Closing Price” will mean the
closing price of a Share as reported in the principal consolidated transaction reporting system for
the New York Stock Exchange (or on such other recognized quotation system on which the trading
prices of the Shares are quoted at the relevant time), or in the event that there are no Share
transactions reported on such tape or other system on the applicable date, the closing price on the
immediately preceding date on which Share transactions were reported. Closing Price shall
constitute “Fair Market Value” under the Plan for all purposes related to your Performance Shares.

     10. No Guarantee of Employment. This Agreement is not a contract of employment and
it is not a guarantee of employment for life or any period of time. Nothing in this Agreement
interferes with or limits in any way the right of the Company or an Affiliates to terminate your
employment at any time. This Agreement does not give you any right to continue in the employ of
the Company or an Affiliate.

     11. Governing Law; Choice of Forum. This Agreement will be construed in accordance
with and governed by the laws of the State of Delaware, regardless of the law that might be applied
under principles of conflict of laws. Any action to enforce this Agreement or any action otherwise
regarding this Agreement must be brought in a court in the State of New York, to which jurisdiction
the Company and you consent.

     12. Miscellaneous. For purposes of this Agreement, “Committee” includes any direct
or indirect delegate of the Committee as defined in the Plan and the word “Section” refers to a
Section in this Agreement. Any other capitalized word used in this Agreement and not defined in
this Agreement, including each form of that word, is defined in the Plan. Any determination or
interpretation by the Committee pursuant to this Agreement will be final and conclusive. In the
event of a conflict between any term of this Agreement and the terms of the Plan, the terms of the
Plan control. This Agreement and the Plan represent the entire agreement between you and the
Company, and you and all Affiliates, regarding your Performance Shares. No promises, terms, or
agreements of any kind regarding your Performance Shares that are not set forth, or referred to, in
this Agreement or in the Plan are part of this Agreement. In the event any provision of this
Agreement is held illegal or invalid, the rest of this Agreement will remain enforceable. If you
are an Employee of an Affiliate, your Performance Shares are being provided to you by the Company
on behalf of that Affiliate, and the value of your Performance Shares will be considered a
compensation obligation of that Affiliate. Your Performance Shares are not Shares and do not give
you the rights of a holder of Shares. You will not be credited with additional Performance Shares
on account of any dividend paid on Shares. The issuance of Shares or payment of cash pursuant to
your Performance Shares is subject to all applicable laws, rules and regulations, and to any
approvals by any governmental agencies or national securities exchanges as may be required. No
Shares will be issued or no cash will be paid if that issuance or payment would result in a
violation of applicable law, including the federal securities laws and any applicable state or
foreign securities laws.

     13. Amendments. The Committee has the exclusive right to amend this Agreement as
long as the amendment does not adversely affect any of your previously-granted Awards in any
material way (without your written consent) and is otherwise consistent with the Plan. The Company
will give

4

 

written notice to you (or, in the event of your death, to your beneficiary or estate) of any
amendment as promptly as practicable after its adoption.

     14. Agreement to Protect Corporate Property. The grant of your Performance Shares is
subject to your execution of the Agreement to Protect Corporate Property provided to you with this
Agreement (“Property Agreement”). If you do not return a signed copy of the Property Agreement,
this Agreement and the Performance Shares granted to you will be void. The Company may in its sole
discretion allow an extension of time for you to return your signed Property Agreement.

     IN WITNESS WHEREOF, the Company has caused its duly authorized officer to execute this
Agreement, and you have executed this Agreement.

	 	 	 	 	 
	METLIFE, INC.	 	EMPLOYEE
	 
	 	 	 	 
	By:

	 	C. Robert Henrikson
	 	[name]
	 

	 	 	 	 
	 

	 	Name	 	 
	 
	 	 	 	 
	 

	 	Chairman of the Board,
President and CEO	 	 
	 

	 	 	 	 
	 

	 	Title	 	 
	 
	 	 	 	 
	 

	 	                                                            
	 	                                                            
	 

	 	Signature
	 	Signature
	 
	 	 	 	 
	 

	 	 	 	Date:                                                            

5

 

Schedule A

to Management Performance Share Agreement

	 	 	 	 	 
	Table 1
	Change in Annual Net	 	 	 	 
	Operating Income Available	 	 	 	 
	to Common Shareholders	 	 	 	 
	Company Performance	 	 	 	 
	(Percentile Relative to Other	 	 	 	First Percentage For
	Companies in S&P Ins.	 	 	 	Purposes of Determining
	Index)	 	 	 	Performance Factor*
	0-24	 	 
	 	0
	25	 	 
	 	25
	26	 	 
	 	26
	27	 	 
	 	27
	28	 	 
	 	28
	29	 	 
	 	29
	30	 	 
	 	30
	31	 	 
	 	31
	32	 	 
	 	32
	33	 	 
	 	33
	34	 	 
	 	34
	35	 	 
	 	35
	36	 	 
	 	36
	37	 	 
	 	37
	38	 	 
	 	38
	39	 	 
	 	39
	40	 	 
	 	40
	41	 	 
	 	41
	42	 	 
	 	42
	43	 	 
	 	43
	44	 	 
	 	44
	45	 	 
	 	45
	46	 	 
	 	46
	47	 	 
	 	47
	48	 	 
	 	48
	49	 	 
	 	49
	50	 	 
	 	50
	51	 	 
	 	52
	52	 	 
	 	54
	53	 	 
	 	56
	54	 	 
	 	58
	55	 	 
	 	60
	56	 	 
	 	62
	57	 	 
	 	64
	58	 	 
	 	66
	59	 	 
	 	68
	60	 	 
	 	70
	61	 	 
	 	72
	62	 	 
	 	74
	63	 	 
	 	76
	64	 	 
	 	78
	65	 	 
	 	80
	66	 	 
	 	82
	67	 	 
	 	84
	68	 	 
	 	86
	69	 	 
	 	88
	70	 	 
	 	90
	71	 	 
	 	92
	72	 	 
	 	94
	73	 	 
	 	96
	74	 	 
	 	98
	75-99	 	 
	 	100

	 	 	 	 	 
	Table 2
	Proportionate Total	 	 	 	 
	Shareholder Return Company	 	 	 	 
	Performance (Percentile	 	 	 	Second Percentage For
	Relative to Other Companies	 	 	 	Purposes of Determining
	in S&P Ins. Index)	 	 	 	Performance Factor*
	0-24	 	 
	 	0
	25	 	 
	 	25
	26	 	 
	 	26
	27	 	 
	 	27
	28	 	 
	 	28
	29	 	 
	 	29
	30	 	 
	 	30
	31	 	 
	 	31
	32	 	 
	 	32
	33	 	 
	 	33
	34	 	 
	 	34
	35	 	 
	 	35
	36	 	 
	 	36
	37	 	 
	 	37
	38	 	 
	 	38
	39	 	 
	 	39
	40	 	 
	 	40
	41	 	 
	 	41
	42	 	 
	 	42
	43	 	 
	 	43
	44	 	 
	 	44
	45	 	 
	 	45
	46	 	 
	 	46
	47	 	 
	 	47
	48	 	 
	 	48
	49	 	 
	 	49
	50	 	 
	 	50
	51	 	 
	 	52
	52	 	 
	 	54
	53	 	 
	 	56
	54	 	 
	 	58
	55	 	 
	 	60
	56	 	 
	 	62
	57	 	 
	 	64
	58	 	 
	 	66
	59	 	 
	 	68
	60	 	 
	 	70
	61	 	 
	 	72
	62	 	 
	 	74
	63	 	 
	 	76
	64	 	 
	 	78
	65	 	 
	 	80
	66	 	 
	 	82
	67	 	 
	 	84
	68	 	 
	 	86
	69	 	 
	 	88
	70	 	 
	 	90
	71	 	 
	 	92
	72	 	 
	 	94
	73	 	 
	 	96
	74	 	 
	 	98
	75-99	 	 
	 	100

 

			
	*	 	First percentage and second percentage are added together and the total is multiplied by the
number of Performance Shares granted to determine the number of Final Performance Shares. See
Section 1(c) of this Agreement.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00118-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00118-of-00352.parquet"}]]