Document:

First Data Corporation Severance/Change in Control Policy

 EXHIBIT 10.1 
  
 FIRST DATA CORPORATION 
 SEVERANCE/CHANGE IN CONTROL POLICY 
 (Executive Committee Level) Effective July 26, 2005

  
 1. Purpose 
  
 This severance/change in control policy (the “Policy”) is established by First
Data Corporation, a Delaware corporation (“FDC”), to enable FDC to offer a form of income protection to its Eligible Executives in the event their employment with the Company is involuntarily terminated other than for Cause. The Policy is
also intended to secure for the benefit of the Company the services of the Eligible Executives in the event of a potential or actual Change in Control without concern for whether such executives might be hindered in discharging their duties by the
personal uncertainties and risks associated with a Change in Control, by affording such executives the opportunity to protect the share value they have helped create as of the date of any Change in Control and offering income protection to such
executives in the event their employment terminates involuntarily or for Good Reason in connection with a Change in Control. 
  
 This Policy shall constitute a “welfare plan” within the meaning of Section 3(1) of the Employee Retirement Income Security Act of 1974, as amended
(“ERISA”) and shall be construed in a manner consistent with such intent. To the extent the Company determines, in its sole discretion, that the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the
“Code”) may apply to this Policy, the Company may adopt amendments to the Policy or adopt other procedures or take any other actions that it determines are necessary or appropriate to either exempt this Policy from Code Section 409A or to
comply with the requirements of Code Section 409A, including without limitation amendments, procedures and actions with retroactive effect. Notwithstanding the foregoing, any actions taken by the Company in this regard shall preserve to the maximum
extent possible the benefits for Eligible Executives contemplated in this Policy. 
  
 2. Effective Date 
  
 The effective date of this Policy is
July 26, 2005 (the “Effective Date”). 
  
 3. Definitions

  
 Base Salary means the Eligible Executive’s current
annualized rate of base cash compensation paid on each regularly scheduled payday for the executive’s regular work schedule as of his or her Termination Date and is calculated to include any before-tax contributions that are deducted for
Company benefit plan purposes. Base Salary does not include taxable or nontaxable fringe benefits or awards, vacation, performance awards, bonus, commission or other incentive pay, or any payments which are not made on each regular payday,
regardless of how such payments may be characterized. 
  
 Board
means the Board of Directors of FDC. 
  
 Cause means the willful and
continued failure to substantially perform the duties assigned by the Company (other than a failure resulting from Disability), the willful engaging in conduct which is demonstrably injurious to the Company (monetarily or otherwise), any act of
dishonesty, the commission of a felony, the continued failure to meet performance standards, excessive absenteeism, or a significant violation of any statutory or common law duty of loyalty to the Company. 
  
 Change in Control means 
  
 (a) the acquisition by any individual, entity or group (a “Person”), including any
“person” within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act, of beneficial ownership within the meaning of Rule 13d-3 promulgated under the Exchange Act, of 25% or more of either (i) the then outstanding shares of
common stock of FDC (the “Outstanding Common Stock”) or (ii) the combined voting power of the then outstanding securities of FDC entitled to vote generally in the election of directors (the “Outstanding Voting Securities”);
excluding, however, the following: (A) any acquisition directly from FDC (excluding any 

 
acquisition resulting from the exercise of an exercise, conversion or exchange privilege unless the security being so exercised, converted or exchanged was
acquired directly from FDC), (B) any acquisition by FDC, (C) any acquisition by an employee benefit plan (or related trust) sponsored or maintained by FDC or any corporation controlled by FDC or (D) any acquisition by any corporation pursuant to a
transaction which complies with clauses (i), (ii), and (iii) of subsection (c) of this definition; provided further, that for purposes of clause (B), if any Person (other than FDC or any employee benefit plan (or related trust) sponsored or
maintained by FDC or any corporation controlled by FDC) shall become the beneficial owner of 25% or more of the Outstanding Common Stock or 25% or more of the Outstanding Voting Securities by reason of an acquisition by FDC, and such Person shall,
after such acquisition by FDC, become the beneficial owner of any additional shares of the Outstanding Common Stock or any additional Outstanding Voting Securities and such beneficial ownership is publicly announced, such additional beneficial
ownership shall constitute a Change in Control; 
  
 (b) the cessation of
individuals who constitute the Board (the “Incumbent Board”) as of the date this Policy is adopted by the Committee, to constitute at least a majority of such Incumbent Board; provided that any individual who becomes a director of FDC
subsequent to the date this Policy is adopted by the Committee whose election, or nomination for election by FDC’s stockholders, was approved by the vote of at least a majority of the directors then comprising the Incumbent Board shall be
deemed a member of the Incumbent Board; and provided further, that any individual who was initially elected as a director of FDC as a result of an actual or threatened solicitation by a Person other than the Board for the purpose of opposing a
solicitation by any other Person with respect to the election or removal of directors, or any other actual or threatened solicitation of proxies or consents by or on behalf of any Person other than the Board shall not be deemed a member of the
Incumbent Board; 
  
 (c) the consummation of a reorganization, merger or
consolidation or sale or other disposition of all or substantially all of the assets of FDC (a “Corporate Transaction”); excluding, however, a Corporate Transaction pursuant to which (i) all or substantially all of the individuals or
entities who are the beneficial owners, respectively, of the Outstanding Common Stock and the Outstanding Voting Securities immediately prior to such Corporate Transaction will beneficially own, directly or indirectly, more than 60% of,
respectively, the outstanding shares of common stock, and the combined voting power of the outstanding securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Corporate
Transaction (including, without limitation, a corporation which as a result of such transaction owns FDC or all or substantially all of FDC’s assets either directly or indirectly) in substantially the same proportions relative to each other as
their ownership, immediately prior to such Corporate Transaction, of the Outstanding Common Stock and the Outstanding Voting Securities, as the case may be, (ii) no Person (other than FDC; any employee benefit plan (or related trust) sponsored or
maintained by FDC or any corporation controlled by FDC; the corporation resulting from such Corporate Transaction; and any Person which beneficially owned, immediately prior to such Corporate Transaction, directly or indirectly, 25% or more of the
Outstanding Common Stock or the Outstanding Voting Securities, as the case may be) will beneficially own, directly or indirectly, 25% or more of, respectively, the outstanding shares of common stock of the corporation resulting from such Corporate
Transaction or the combined voting power of the outstanding securities of such corporation entitled to vote generally in the election of directors and (iii) individuals who were members of the Incumbent Board will constitute at least a majority of
the members of the board of directors of the corporation resulting from such Corporate Transaction; or 
  
 (d) the consummation of a plan of complete liquidation or dissolution of FDC. 
  
 Committee means the Compensation and Benefits Committee of the Board or its delegate or successor. 
  
 Company means FDC or its subsidiaries or any successor (whether direct or indirect, by purchase, merger, consolidation, reorganization or otherwise,
including, without limitation, any successor due to a Change in Control) to the business or assets of FDC. 
  
 Disability means the inability of the Eligible Executive to substantially perform such executive’s duties and responsibilities due to a physical or mental condition (i) that would entitle such
executive to benefits under the 

  

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Company’s long-term disability plan or, if the Committee deems it relevant, any disability rights provided as a matter of local law or (ii) if such
executive is not eligible for long-term disability benefits under any plan sponsored by the Company, that would, as determined by the Committee, entitle such executive to benefits under the Company’s long-term disability plan if the executive
were eligible therefor. 
  
 Eligible Executive means an individual
who is designated by FDC as an insider for purposes of Section 16 of the Exchange Act and who is a member of FDC’s Executive Committee on the earlier of his or her Termination Date or the date of a Change in Control. 
  
 Exchange Act means the Securities Exchange Act of 1934, as amended. 

 
 Good Reason means any one or more of the following: (i) action by the
Company resulting in a substantial diminution of the Eligible Executive’s titles or positions with the Company, (ii) a material reduction in the Eligible Executive’s Base Salary or bonus, or (iii) any relocation of the Eligible Executive
more than thirty-five (35) miles from the Eligible Executive’s current principal work location without the executive’s consent. Within 30 days after the Eligible Executive becomes aware of one or more actions or inactions described in the
preceding sentence, the Eligible Executive shall deliver written notice to the Company of the action(s) or inaction(s) (the “Good Reason Notice”). The Company shall have 30 days after the Good Reason Notice is delivered to cure the
particular action(s) or inaction(s). If the Company so effects a cure, the Good Reason Notice will be deemed rescinded and of no further force and effect. 
  
 Severance Benefits are the benefits payable to an Eligible Executive pursuant to this Policy, other than the Change in Control-related benefits referenced
in Sections 7(c)(ii) and 8 hereof. 
  
 Severance Period means with
respect to FDC’s Chief Executive Officer a 36 consecutive month period commencing on the executive’s Termination Date and with respect to all other Eligible Executives a 24 consecutive month period commencing on the executives’
Termination Date. 
  
 Termination Date is the date on which the
Eligible Executive’s employment with the Company terminates for a reason set forth under Section 5. 
  
 4. Eligibility 
  
 All Eligible
Executives who have been on the Company’s U.S. dollar payroll for at least three months are eligible to receive benefits according to the terms of this Policy, provided that their Termination Date has not occurred prior to the Effective Date.
Executives are not eligible for any benefits under this Policy during the first three months of their employment. 
  
 5. Eligible Termination Reasons 
  
 (a) Except in the case of a Change in Control, involuntary separation of service with the Company other than for Cause. 
  
 (b) In the case of a Change in Control, involuntary separation of service with the Company
other than for Cause or voluntary separation of service by the Eligible Executive for Good Reason during the period commencing on and ending twenty-four (24) months after the date of the Change in Control. 
  
 6. Non-Eligible Termination Reasons 
  
 A non-eligible termination reason is any reason for termination that is not an eligible
termination reason under Section 5. 
  
 7. Severance and Change in Control
Benefits. The provisions of this Section are subject, without limitation, to the provisions of Section 9 hereof. 
  

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 (a) Severance Pay. If an Eligible Executive’s employment with the Company is terminated after the Effective
Date for any reason set forth in Section 5, the Company shall pay the Eligible Executive the following amounts: 
  
 (i) With respect to the Chief Executive Officer of FDC, an amount equal to the product of (1) the sum of the executive’s Base Salary and the annual
target bonus payable to the executive pursuant to the Company’s Senior Executive Incentive Plan (or the bonus plan then applicable to the executive) for the year in which the Termination Date occurs, and (2) 2.99. 
  
 (ii) With respect to an Eligible Executive other than the Chief Executive
Officer of FDC, an amount equal to the product of (1) the sum of the executive’s Base Salary and the target bonus payable to the executive pursuant to the Company’s Senior Executive Incentive Plan (or the bonus plan then applicable to the
executive) for the year in which the Termination Date occurs, and (2) 2. 
  
 (iii) With respect to all Eligible Executives, a prorated amount of the Eligible Executive’s target bonus under the Company’s Senior Executive Incentive Plan (or the bonus plan then applicable to the
executive) for the year in which the Termination Date occurs. Such prorated amount shall be equal to the product of (1) the Eligible Executive’s target bonus for the year in which the Termination Date occurs and (2) the ratio of the number of
days elapsed during such year prior to the Termination Date to 365. 
  
 (b)
Continued Benefits Coverage. If an Eligible Executive’s employment with the Company is terminated after the Effective Date for any reason set forth in Section 5, subject to the terms of any applicable plan documents and the remaining
provisions of this subsection, the Company shall provide the Eligible Executive (and his or her dependents) for the duration of the Severance Period with all welfare benefits coverage which the Eligible Executive (or his or her dependents) was
participating in or receiving as of the Termination Date. The cost to the Eligible Executive of such coverage and the terms and conditions of such coverage during the Severance Period shall be the same as those applicable to similarly situated
active employees during such period. Notwithstanding the foregoing, after the expiration of the first 12 months of the Severance Period, the Eligible Executive (and his or her dependents) shall lose Company-sponsored group health coverage unless a
timely election is made for continued group health coverage under the Consolidated Omnibus Budget Reconciliation Act of 1986, as amended (“COBRA”). The Company shall pay to the Eligible Executive, as an additional Severance Benefit, a lump
sum approximately equal to the difference in cost between COBRA premiums and active employee premiums for 12 months of COBRA coverage (18 months, in the case of the Chief Executive Officer of FDC) calculated by the Company in its discretion as of
the Termination Date, which payment shall constitute taxable income to the Eligible Executive and which shall be paid no later than the 30th day following the expiration of the first 12 months of the Severance Period. An Eligible Executive receiving
Severance Benefits under this Policy shall also be entitled to receive during the Severance Period any financial planning benefits which the Eligible Executive was receiving as of the Termination Date, but shall not be entitled to receive any other
perquisites after such date. Notwithstanding the foregoing, the executive’s continued benefits coverage under this subsection shall cease as of the date the executive becomes eligible to receive such benefits under a subsequent employer’s
benefit programs. Eligible Executives receiving Severance Benefits under this Policy are not eligible to continue contributions to the Company’s qualified retirement plans or nonqualified deferred compensation program. 
  
 (c) Equity-Based Awards 
  
 (i) Non-Change in Control. If an Eligible Executive’s employment with the Company is terminated after the
Effective Date for a reason described in Section 5(a), all outstanding equity-based awards granted to the Eligible Executive after the Effective Date under the 2002 First Data Corporation Long-Term Incentive Plan (or a successor plan) (hereinafter
the “LTIP”) (including but not limited to grants of nonqualified stock options, stock appreciation rights, and restricted stock awards) that are eligible to become fully vested and exercisable or payable contingent upon the Eligible
Executive’s continued employment and the passage of time (whether or not the Company or the executive have attained any specified performance goals) (“Time Vested Awards”) shall continue to vest and be 

  

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exercisable in accordance with their terms until the end of the Eligible Executive’s Severance Period (or, if earlier, the expiration of the original
term of the award) but not thereafter. This subsection shall not apply to LTIP awards granted prior to the Effective Date or affect the vesting, exercisability or payment of LTIP awards that are not Time Vested Awards. 
  
 (ii) Change in Control. In the event of a Change in Control, all
outstanding equity-based awards granted to the Eligible Executive under the LTIP that are Time Vested Awards (including but not limited to grants of nonqualified stock options, stock appreciation rights, and restricted stock awards), whether granted
before or after the Effective Date, shall become fully vested and exercisable or payable as of the effective date of the Change in Control. In addition, in the event of a Change in Control, all outstanding equity-based awards granted to the Eligible
Executive under the LTIP that are not Time Vested Awards, other than Shareholder Value Plan Awards, and that are eligible to become exercisable, vested or payable (or which provide for accelerated exercisability, vesting or payment) upon the
attainment of specified performance goals, whether granted before or after the Effective Date, shall become fully vested and exercisable or payable as if any applicable performance period had lapsed and as if the performance goals had been satisfied
at the target level (or, if greater, based upon actual performance) as of the effective date of the Change in Control. In the event this subsection applies, LTIP awards granted to an Eligible Executive after the Effective Date shall remain
exercisable until the earliest of the end of the Eligible Executive’s Severance Period, if applicable, the date of the Eligible Executive’s termination of employment if for a non-eligible termination reason, or the expiration of the
original term of the award. This Policy shall not modify the exercise period applicable to any LTIP award outstanding as of the Effective Date. 
  
 (d) Shareholder Value Plan Awards. If an Eligible Executive’s employment with the Company is terminated after the Effective Date for any reason described in
Section 5, notwithstanding anything in this Policy to the contrary, all banked and unvested Shareholder Value Plan Awards granted to the Eligible Executive shall continue to vest and be payable in accordance with their terms notwithstanding the
executive’s earlier termination of employment. 
  
 (e) Other Incentive
Awards. If an Eligible Executive’s employment with the Company is terminated after the Effective Date for any reason set forth in Section 5, except as provided in subsection (d), outstanding cash incentive awards granted to the Eligible
Executive that are eligible to become fully vested and payable solely contingent upon the Eligible Executive’s continued employment and the passage of time shall continue to vest and be payable in accordance with their terms, notwithstanding
the executive’s earlier termination of employment. 
  
 8. Certain
Additional Payments 
  
 (a) Notwithstanding anything in this Policy to
the contrary, in the event it is determined that any payments or benefits provided by the Company to or on behalf of an Eligible Executive (whether pursuant to the terms of this Policy or otherwise) (any such payments or benefits being referred to
in this Section as “Payments”), but determined without taking into account any additional payments required under this Section, would be subject to the excise tax imposed by Code Section 4999, or any interest or penalties are incurred by
the Eligible Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, collectively referred to herein as the “Excise Tax”), then the Eligible Executive will be entitled to receive an
additional payment (a “Gross-Up Payment”) in an amount so that after payment by the Eligible Executive of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes
(and any interest and penalties imposed with respect thereto) and the Excise Tax imposed upon the Gross-Up Payment, the Eligible Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Payments. Notwithstanding
the foregoing, if it is determined that the Eligible Executive is entitled to a Gross-Up Payment, but that the Payments to the Eligible Executive do not exceed 110% of the amount which is one dollar less than the smallest amount that would give rise
to any Excise Tax (the “Reduced Amount”), then no Gross-Up Payment will be made to the Eligible Executive and the Payments shall be reduced to the Reduced Amount. In such event, the reduction will occur in the following order unless the
Eligible Executive elects in writing a different order (provided, however, that such election shall be subject to Company 

  

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approval if made on or after the date on which the event that triggers the Payment occurs): (i) reduction of cash payments; (ii) cancellation of accelerated
vesting of equity awards; and (iii) reduction of employee benefits. If acceleration of vesting of compensation from an Eligible Executive’s equity awards is to be reduced, such acceleration of vesting shall be cancelled in the reverse order of
the date of grant unless the Eligible Executive elects in writing a different order for cancellation. 
  
 (b) Subject to the provisions of Section 8(c), all determinations required to be made under this Section, including whether and when a Gross-Up Payment is required and the amount of such Gross-Up Payment and the
assumptions to be used in arriving at such determination, will be made by the independent registered public accounting firm engaged by the Company for general audit purposes as of the day prior to the effective date of the Change in Control (the
“Accounting Firm”). In the event that the Accounting Firm is serving as accountant or auditor for the individual, entity or group effecting the Change in Control, the Company shall appoint another nationally recognized public accounting
firm to make the determinations required hereunder (which accounting firm shall then be referred to as the Accounting Firm hereunder). The Accounting Firm shall provide its calculations, together with detailed supporting documentation, to the
Company and the Eligible Executive within fifteen (15) calendar days after the date on which the Eligible Employee’s right to Payment is triggered (if requested at that time by the Company or the Eligible Executive) or such other time as
requested by the Company or the Eligible Executive. All fees and expenses of the Accounting Firm shall be borne solely by the Company. Any Gross-Up Payment, as determined pursuant to this Section 8, shall be paid by the Company to the Eligible
Executive within five days of the receipt of the Accounting Firm’s determination. If the Accounting Firm determines that no Excise Tax is payable by the Eligible Executive, it shall furnish the Eligible Executive with a written opinion that no
Excise Tax will be imposed. Any good faith determination by the Accounting Firm shall be binding upon the Company and the Eligible Executive. As a result of the uncertainty in the application of Code Section 4999 at the time of the initial
determination by the Accounting Firm hereunder, it is possible that Gross-Up Payments which will not have been made by the Company should have been made (“Underpayment”), consistent with the calculations required to be made hereunder. In
the event that the Company exhausts its remedies pursuant to Section 8(c) and the Eligible Executive thereafter is required to make a payment of any Excise Tax, the Accounting Firm shall determine the amount of the Underpayment that has occurred and
any such Underpayment shall be promptly paid by the Company to or for the benefit of the Eligible Executive. 
  
 (c) The Eligible Executive shall notify the Company in writing of any claim by the Internal Revenue Service that, if successful, would require the payment by the Company of the Gross-Up Payment. Such notification
shall be given as soon as practicable but no later than 10 business days after the Eligible Executive is informed in writing of such claim and shall apprise the Company of the nature of such claim and the date on which such claim is requested to be
paid. The Eligible Executive shall not pay such claim prior to the expiration of the 30-day period following the date on which the Eligible Executive gives such notice to the Company (or such shorter period ending on the date that any payment of
taxes with respect to such claim is due). If the Company notifies the Eligible Executive in writing prior to the expiration of such period that it desires to contest such claim, the Eligible Executive shall: 
  
 (i) give the Company any information reasonably requested by the Company
relating to such claim; 
  
 (ii) take such action in connection
with contesting such claim as the Company shall reasonably request in writing from time to time, including, without limitation, accepting legal representation with respect to such claim by an attorney reasonably selected by the Company; 

 
 (iii) cooperate with the Company in good faith in order effectively to
contest such claim; and 
  
 (iv) permit the Company to participate
in any proceedings relating to such claim; 
  
 provided, however, that the Company
shall bear and pay directly all costs and expenses (including additional interest and penalties) incurred in connection with such contest and shall indemnify and hold the Eligible Executive harmless, on an after-tax basis, for any Excise Tax or
income tax (including interest and penalties 

  

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with respect thereto) imposed as a result of such representation and payment of costs and expenses. Without limitation on the foregoing provisions of this
Section 8(c), the Company shall control all proceedings taken in connection with such contest and, at its sole option, may pursue or forgo any and all administrative appeals, proceedings, hearings and conferences with the taxing authority in respect
of such claim and may, at its sole option, either direct the Eligible Executive to pay the tax claimed and sue for a refund or contest the claim in any permissible manner, and the Eligible Executive agrees to prosecute such contest to a
determination before any administrative tribunal, in a court of initial jurisdiction and in one or more appellate courts, as the Company shall determine; provided further, that if the Company directs the Eligible Executive to pay such claim and sue
for a refund, the Company shall advance the amount of such payment to the Eligible Executive on an interest-free basis and shall indemnify and hold the Eligible Executive harmless, on an after-tax basis, from any Excise Tax or income tax (including
interest or penalties with respect thereto) imposed with respect to such advance or with respect to any imputed income with respect to such advance; and provided further, that any extension of the statute of limitations relating to payment of taxes
for the taxable year of the Eligible Executive with respect to which such contested amount is claimed to be due is limited solely to such contested amount. Furthermore, the Company’s control of the contest shall be limited to issues with
respect to which a Gross-Up Payment would be payable hereunder and the Eligible Executive shall be entitled to settle or contest, as the case may be, any other issue raised by the Internal Revenue Service or any other taxing authority. 

 
 (d) If, after the receipt by the Eligible Executive of an amount advanced by the Company
pursuant to Section 8(c), the Eligible Executive becomes entitled to receive, and receives, any refund with respect to such claim, the Eligible Executive shall (subject to the Company’s complying with the requirements of Section 8(c)) promptly
pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by the Eligible Executive of an amount advanced by the Company pursuant to Section 8(c), a
determination is made that the Eligible Executive shall not be entitled to any refund with respect to such claim and the Company does not notify the Eligible Executive in writing of its intent to contest such denial of refund prior to the expiration
of 30 days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid. 
  
 9. Requirement of Release 
  
 The provision of Severance Benefits under this Policy is conditioned upon the Eligible
Executive timely signing an Agreement and Release (in a form satisfactory to the Company) which will include restrictive covenants and a comprehensive release of all claims. In this Agreement and Release, the Eligible Executive will be asked to
release the Company and its employees from any and all claims the Eligible Executive may have against them, including but not limited to any contract, tort, or wage and hour claims, and any claims under Title VII, the ADEA, the ADA, ERISA, and other
federal, state or local laws. Under the Agreement and Release, the Eligible Executive must also agree not to solicit business similar to any business offered by the Company from any Company customer, not to advise any entity to cancel or limit its
business with the Company, not to recruit, solicit, or encourage any employee to leave their employment with the Company, not to disclose any of Company’s trade secrets or confidential information, and not to disparage the Company or its
employees in any way. These obligations are in addition to any other non-solicitation, noncompete, nondisclosure, or confidentiality agreements the Eligible Executive may have executed while employed by Company. No Severance Benefits will commence
under this Policy prior to the eighth day following the date on which the Company has received the Eligible Executive’s fully executed Agreement and Release. 
  
 10. Method of Payment 
  
 The Company reserves the right to determine whether cash Severance Benefits payable to an Eligible Executive under the Policy shall be paid in a single lump sum or in
substantially equal installments, and to choose the timing of such payments; provided that lump sum cash Severance Benefits shall be paid within one (1) month following the Eligible Executive’s Termination Date, and installment cash Severance
Benefits shall commence no later than the second month following the Eligible Executive’s Termination Date (or if later, the earliest date the Company determines will not result in a violation of Code Section 409A, if applicable), and shall be
paid in full no later than the end of the Severance Period. Notwithstanding the foregoing, in no event shall payment of 
  

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any Severance Benefit be made prior to the Eligible Employee’s Termination Date or prior to the effective date of the release described in Section 9
above. If an Eligible Executive dies after becoming eligible for Severance Benefits and executing an Agreement and Release but before full receipt of all cash Severance Benefits, the remaining cash Severance Benefits will be paid to the Eligible
Executive’s estate in one lump sum. If an Eligible Executive dies after becoming eligible for Severance Benefits but before executing an Agreement and Release, his or her estate or representative may not execute an Agreement and Release and no
Severance Benefits with respect to the Eligible Executive are payable under this Policy. All payments under this Policy will be net of amounts withheld with respect to taxes, offsets, or other obligations. 
  
 11. Offsets 
  
 The Company may, in its discretion and to the extent permitted under applicable law, offset against the Eligible Executive’s benefits
under this Policy any other severance benefits payable to the Eligible Executive by the Company, the value of unreturned property, and any outstanding loan, debt or other amount the Eligible Executive owes to the Company. The Company may recover any
overpayment of benefits made to an Eligible Executive or an Eligible Executive’s estate under this Policy or, to the extent permitted by applicable law, offset any other overpayment made to the Eligible Executive against any Policy benefits or
other amount the Company owes the Eligible Executive or the Eligible Executive’s estate. 
  
 12. Outplacement 
  
 In the
Committee’s sole and absolute discretion, Eligible Executives who are eligible for Severance Benefits under the Policy also may be eligible for outplacement services selected by the Company. Eligibility for, and the scope of, any outplacement
services will be determined in the sole discretion of the Committee. Under no circumstances will Eligible Executives be eligible to receive a cash payment in lieu of outplacement services. 
  
 13. Re-employment and Other Employment 
  
 In the event an Eligible Executive is re-employed by the Company prior to the commencement
of or within the Severance Period, the payment of any Severance Benefits payable with respect to the prior termination immediately will cease and such Severance Benefits will no longer be payable under this Policy. 
  
 Subject to Section 9 of this Policy, if an Eligible Executive obtains employment (other than
with the Company) while receiving Severance Benefits, the Eligible Executive will continue to receive any remaining cash Severance Benefits in accordance with the payment schedule then in effect, but, except as otherwise required under applicable
law, he or she will no longer be eligible to receive continued benefits under Section 7(b) of this Policy as of the date the executive becomes eligible to receive such benefits under a subsequent employer’s benefit programs. 
  
 14. Funding 
  
 This Policy is not funded, and payment of benefits hereunder is made from the general assets of the Company. 
  
 15. Administration 
  
 This Policy shall be administered by the Committee, which as the Named Fiduciary shall have
the absolute discretion and exclusive right to interpret, construe and administer the Policy and to make final determinations on all questions arising under the Policy, including but not limited to questions concerning eligibility for, the amount of
and receipt of Policy benefits. All decisions of the Committee will be conclusive, final and binding upon the parties. 
  
 16. Amendment or Termination of the Policy 
  
 The Company reserves the right to amend or terminate this Policy at any time in its sole discretion, provided, however, that during the period commencing upon the
earliest of (a) the signing of a definitive agreement that, if 

  

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consummated, would result in a Change in Control, (b) the filing of a tender offer with the Securities and Exchange Commission that, if accepted, would
result in a Change in Control, or (c) the election of a director to the Board who is not a member of the Incumbent Board (each, a “Triggering Event”) and ending upon the earlier of (x) the date on which the Committee in its sole discretion
determines that the Triggering Event will not actually result in a Change in Control, or (y) the 36 month anniversary of the Change in Control, the Company shall not amend or terminate this Policy without the consent of each affected Eligible
Executive. 
  
 17. Limitation on Individually Negotiated Severance
Arrangements 
  
 As of the Effective Date, this Policy is intended to be
the sole source of severance and change in control benefits for Eligible Executives. Absent prior Board approval, no individual agreement shall be entered into with any Eligible Executive or any person being considered for promotion or hire as an
Eligible Executive which would provide severance or change in control-type benefits. 
  
 18. Miscellaneous 
  
 No executive vests in any
entitlement to or eligibility for benefits under this Policy until he or she has satisfied all requirements for eligibility and the conditions required to receive the benefits specified in this Policy have been satisfied. No interest accrues on any
benefit to which an Eligible Executive may be entitled under this Policy. Eligible Executives cannot assign or pledge any benefits that they are eligible for under this Policy. Subject to state and federal law, no creditor may attach or garnish any
Eligible Executive’s Policy benefits. This Policy does not create any contract of employment or right to employment for any period of time. Employment with the Company is at-will, and may be terminated by either the Company or the Eligible
Executive at any time for any reason. 
  
 19. Review Procedure

  
 Executives eligible to receive benefits under this Policy will be
notified of such eligibility as soon as administratively practicable after the event occurs which gives rise to the provision of Policy benefits. If an executive who believes he or she is eligible to receive Policy benefits does not receive such
notice or disagrees with the amount of benefits set forth in such notice, or if an executive is informed that he or she is not eligible for benefits under this Policy, the executive (or his or her legal representative) may file a written claim for
benefits with the Company’s senior human resources executive or such other officer or body designated by the Committee for this purpose. The written claim must include the facts supporting the claim, the amount claimed, and the executive’s
name and mailing address. 
  
 If the claim is denied in part or in full, the
Company’s senior human resources executive (or other designated officer or body) will notify the executive by mail no later than 90 days (or 180 days in special circumstances) after receipt of the written claim. The notice of denial will state
the specific reasons for the denial, the provisions of the Policy on which the denial is based, a description of any additional information or material required by the Committee to consider the claim if applicable, as well as an explanation as to
why such information or material is necessary, an explanation of the Policy’s review procedures and the time limits applicable to such procedures, and the executive’s right to bring a civil action under ERISA Section 502(a) in the event of
an adverse determination upon review. 
  
 An executive (or his or her legal
representative) may appeal the denial by filing a written appeal with the Committee. The written appeal must be received no later than 60 days after the executive or legal representative received the notice of denial. During the same 60-day period,
the executive or legal representative may have reasonable access to pertinent documents and may submit written comments and supporting documents, records and other materials to the Committee. The Committee will review the appeal and notify the
executive or legal representative by mail of its final decision no later than the next regularly scheduled Committee meeting, or if the appeal is received less than 30 days before such meeting, the second regularly scheduled meeting after the
Committee receives the written appeal. 
  

 - 9 - 

 Rights Under the Employee Retirement Income Security Act (ERISA) 
  
 As a participant in the Policy, an Eligible Executive is entitled to certain rights and
protections under the Employee Retirement Income Security Act of 1974 (ERISA), which provides that all Policy participants shall be entitled to: 
  
 Receive Information About The Policy And Benefits 
  
 The executive may examine, without charge, at the plan administrator’s office and at other specified locations such as worksites, all documents governing the plan
and a copy of the latest annual report (Form 5500 Series) filed with the U.S. Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security Administration. 
  
 The executive may obtain, upon written request to the plan administrator, copies of documents
governing the operation of the Policy including copies of the latest annual report (Form 5500 Series). The administrator may make a reasonable charge for the copies. 
  
 The executive may receive a summary of the plans’ annual financial report. The plan administrator is required by law to furnish each
participant with a copy of this summary annual report. 
  
 Prudent Actions
by Policy Fiduciaries 
  
 In addition to creating rights for Policy
participants, ERISA imposes duties upon the people who are responsible for the operation of the employee benefit plan. The people who operate the Policy, called “fiduciaries” of the Policy, have a duty to do so prudently and in the
interest of the Policy participants and beneficiaries. No one, including an executive’s employer or any other person, may fire an executive or otherwise discriminate against an executive in any way to prevent such executive from obtaining a
welfare benefit or exercising his or her rights under ERISA. 
  
 Enforcement
of Rights 
  
 If an executive’s claim for benefits is denied or
ignored, in whole or in part, the executive has a right to know why this was done, to obtain copies of documents relating to the decision without charge, and to appeal any denial, all within certain time schedules. 
  
 Under ERISA, there are steps that can be taken to enforce the above rights. For example, if
an executive requests a copy of Policy documents or the latest annual report from the Policy and does not receive them within 30 days, the executive may file suit in a Federal court. In such a case, the court may require the plan administrator to
provide the materials, and pay the executive up to $110 a day until the executive receives the materials, unless the materials were not sent because of reasons beyond the control of the administrator. If an executive has a claim for benefits which
is denied or ignored, in whole or in part, he or she may file suit in a state or Federal Court. If it should happen that the Policy fiduciaries misuse the plan’s money, or if an executive is discriminated against for asserting his or her
rights, the executive may seek assistance from the U.S. Department of Labor, or may file a suit in a Federal court. The court will decide who should pay court costs and legal fees. If the executive is successful the court may order the person the
executive has sued to pay these costs and fees. If the executive loses, the court may order the executive to pay these costs and fees, for example, if it finds the executive’s claim is frivolous. 
  
 Assistance With Questions 
  
 An executive who has questions about the Policy should contact the plan administrator. If an
executive has any questions about this statement or about his or her rights under ERISA, or if the executive needs assistance in obtaining documents from the plan administrator, he or she should contact the nearest office of the Employee Benefits
Security Administration, U.S. Department of Labor, listed in a telephone directory or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, NW, Washington,
D.C. 20210. The executive may also obtain certain publications about 

  

 - 10 - 

 
his or her rights and responsibilities under ERISA by calling the publication’s hotline of the Employee Benefits Security Administration.

  
 ADDITIONAL INFORMATION 
  
 The details on the following chart are provided for the Eligible Executive’s
information and possible use. 
  

					
	 Name of Policy

	  	 Type of Policy

	  	 Policy Year:

	First Data Corporation Severance/	  	 	  	 
	Change in Control Policy	  	Welfare	  	1/1 - 12/31
	(Executive Committee Level)	  	 	  	 

  
 Type of Policy Administration

  
 Self-Administered 
  
 Policy Sponsor 
  
 First Data Corporation 
 12500 E. Belford Avenue

 Englewood, CO 80112 
  
 Plan Administrator 
  
 Compensation and Benefits Committee of the Board of Directors 
 c/o First Data Corporation 
 Office of the General Counsel 
 10825 Farnam Dr., C-12 
 Omaha, NE 68154 
  
 Agent for Service of Legal Process 
  
 First Data Corporation 
 Office of the General Counsel 
 10825 Farnam Dr., C-12 
 Omaha, NE 68154 
  
 In addition, service of legal process may be made upon the Plan Administrator. 
  
 Identification Number (Policy Sponsor) 
  
 47-0731996 
  
 Identification Number (Policy) 
  
 THIS DESCRIPTION OF THE FIRST DATA CORPORATION SEVERANCE/CHANGE IN CONTROL POLICY FOR EXECUTIVE COMMITTEE-LEVEL PARTICIPANTS SERVES AS THE OFFICIAL PLAN DOCUMENT AND AS THE LEGAL SUMMARY PLAN DESCRIPTION. 
  

 - 11 -First Data Corporation 2002 Long-Term Incentive Plan

 EXHIBIT 10.2 
  
 2002 FIRST DATA CORP. 
 LONG-TERM INCENTIVE PLAN 
 (as amended July 26, 2005) 
  
 I. INTRODUCTION 
  
 1.1. Purposes. The purposes of the 2002 First Data Corp. Long-Term
Incentive Plan (the “Plan”) are (i) to advance the interests of First Data Corp. (the “Company”) by attracting and retaining key employees, and other key individuals who perform services for the Company, a Subsidiary or an
Affiliate, (ii) to align the interests of the Company’s stockholders and recipients of awards under this Plan by increasing the proprietary interest of such recipients in the Company’s growth and success and (iii) to motivate award
recipients to act in the long-term best interests of the Company and its stockholders.  
  
 1.2. Definitions. 
  
 “Affiliate” shall mean any entity of which the Company owns or controls, directly or indirectly, less than 50% of the outstanding shares of stock normally entitled to vote for the election of directors (or comparable
equity participation and voting power). 
  
 “Agreement”
shall mean the written agreement evidencing an award hereunder between the Company and the recipient of such award and shall include any terms and conditions that may apply to such award. 
  
 “Board” shall mean the Board of Directors of the Company. 
  
 “Cause” shall mean the willful and continued failure to substantially
perform the duties assigned by the Company, a Subsidiary or an Affiliate (other than a failure resulting from the award recipient’s Disability), the willful engaging in conduct which is demonstrably injurious to the Company, a Subsidiary or an
Affiliate (monetarily or otherwise), any act of dishonesty, the commission of a felony, the continued failure to meet performance standards, excessive absenteeism, or a significant violation of any statutory or common law duty of loyalty to the
Company, a Subsidiary or an Affiliate. 
  
 “Change in
Control” shall mean: 
  
 (a) the acquisition by any individual,
entity or group (a “Person”), including any “person” within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act, of beneficial ownership within the meaning of Rule 13d-3 promulgated under the Exchange Act, of
25% or more of either (i) the then outstanding shares of common stock of the Company (the “Outstanding Common Stock”) or (ii) the combined voting power of the then outstanding securities of the Company entitled to vote generally in
the election of directors (the “Outstanding Voting Securities”); excluding, however, the following: (A) any acquisition directly from the Company (excluding any acquisition resulting from the exercise of an exercise, conversion or
exchange privilege unless the security being so exercised, converted or exchanged was acquired directly from the Company), (B) any acquisition by the Company, (C) any acquisition by an employee benefit plan 

 
(or related trust) sponsored or maintained by the Company or any corporation controlled by the Company or (D) any acquisition by any corporation pursuant to
a transaction which complies with clauses (i), (ii), and (iii) of subsection (c) of this definition; provided further, that for purposes of clause (B), if any Person (other than the Company or any employee benefit plan (or related trust) sponsored
or maintained by the Company or any corporation controlled by the Company) shall become the beneficial owner of 25% or more of the Outstanding Common Stock or 25% or more of the Outstanding Voting Securities by reason of an acquisition by the
Company, and such Person shall, after such acquisition by the Company, become the beneficial owner of any additional shares of the Outstanding Common Stock or any additional Outstanding Voting Securities and such beneficial ownership is publicly
announced, such additional beneficial ownership shall constitute a Change in Control; 
  
 (b) The cessation of individuals, who constitute the Board (the “Incumbent Board”) as of the date this Plan is adopted by the Board, to constitute at least a majority of such Incumbent Board; provided that any individual
who becomes a director of the Company subsequent to the date this Plan is approved by the Board whose election, or nomination for election by the Company’s stockholders, was approved by the vote of at least a majority of the directors then
comprising the Incumbent Board shall be deemed a member of the Incumbent Board; and provided further, that any individual who was initially elected as a director of the Company as a result of an actual or threatened solicitation by a Person other
than the Board for the purpose of opposing a solicitation by any other Person with respect to the election or removal of directors, or any other actual or threatened solicitation of proxies or consents by or on behalf of any Person other than the
Board shall not be deemed a member of the Incumbent Board; 
  
 (c) the
consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company (a “Corporate Transaction”); excluding, however, a Corporate Transaction pursuant to
which (i) all or substantially all of the individuals or entities who are the beneficial owners, respectively, of the Outstanding Common Stock and the Outstanding Voting Securities immediately prior to such Corporate Transaction will beneficially
own, directly or indirectly, more than 60% of, respectively, the outstanding shares of common stock, and the combined voting power of the outstanding securities entitled to vote generally in the election of directors, as the case may be, of the
corporation resulting from such Corporate Transaction (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or indirectly) in
substantially the same proportions relative to each other as their ownership, immediately prior to such Corporate Transaction, of the Outstanding Common Stock and the Outstanding Voting Securities, as the case may be, (ii) no Person (other than: the
Company; any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company; the corporation resulting from such Corporate Transaction; and any Person which beneficially owned,
immediately prior to such Corporate Transaction, directly or indirectly, 25% or more of the Outstanding Common Stock or the Outstanding Voting Securities, as the case may be) will beneficially own, directly or indirectly, 25% or more of,
respectively, the outstanding shares of common stock of the corporation resulting from such Corporate Transaction or the combined voting power of the outstanding securities of such corporation entitled to vote generally in the election of directors
and (iii) individuals who were members of the Incumbent Board will constitute at least a majority of the members of the board of directors of the corporation resulting from such Corporate Transaction; or 
  

 - 2 - 

 (d) the consummation of a plan of complete liquidation or dissolution of the Company. 
  
 “Code” shall mean the United States Internal Revenue Code of 1986, as
amended, and the rules and regulations promulgated thereunder. 
  
 “Committee” shall mean the Compensation and Benefits Committee of the Board or its delegate, or any other committee the Board may designate to administer this Plan. 
  
 “Common Stock” shall mean the common stock of the Company.

  
 “Company” has the meaning specified in Section 1.1.

  
 “Corporate Transaction” shall have the meaning set
forth in the definition of “Change in Control” in this Section 1.2. 
  
 “Disability” shall mean the inability of the holder of an award to perform substantially such holder’s duties and responsibilities due to a physical or mental condition (i) that would entitle such holder to
benefits under the Company’s Long-Term Disability Plan (or similar disability plan of the Company, a Subsidiary or an Affiliate in which such holder is a participant) or if the Committee deems it relevant, any disability rights provided as a
matter of local law or (ii) if such holder is not eligible for long-term disability benefits under any plan sponsored by the Company, a Subsidiary, or an Affiliate, that would, as determined by the Committee, entitle such holder to benefits under
the Company’s Long-Term Disability Plan if such holder were eligible therefor. In the case of Incentive Stock Options, the term “Disability” shall have the same meaning as “Permanent and Total Disability” as such term is
defined in this Section 1.2. 
  
 “Exchange Act” shall mean
the United States Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. 
  
 “Fair Market Value” shall mean the average of the high and low transaction prices of a share of Common Stock as reported in the New York Stock
Exchange Composite Transactions on the date as of which such value is being determined or, if there shall be no reported transactions for such date, on the next preceding date for which transactions were reported; provided, however, that if Fair
Market Value for any date cannot be so determined, Fair Market Value shall be determined by the Committee by whatever means or method as the Committee, in the good faith exercise of its discretion, shall at such time deem appropriate. 
  
 “Family Entity” shall mean a trust in which one or more Family
Members have more than fifty percent of the beneficial interest, a foundation in which the award holder and/or one or more Family Members control the management of assets and any other entity in which the award holder and/or one or more Family
Members own more than fifty percent of the voting interests. 
  
 “Family Member” shall mean an award holder’s spouse, parent, child, stepchild, grandchild, sibling, mother or father-in-law, son or daughter-in-law, stepparent, grandparent, former spouse, niece, nephew or
brother or sister-in-law, including adoptive relationships, or any person sharing the award holder’s household (other than a tenant or employee). 
  
 “Free-Standing SAR” shall mean an SAR which is not issued in tandem with, or by reference to, a Stock Option, which entitles the holder thereof to
receive, upon exercise, shares of Common 

  

 - 3 - 

 
Stock (which may be Restricted Stock), cash or a combination thereof with an aggregate value equal to the excess of the Fair Market Value of one share of
Common Stock on the date of exercise over the base price of such SAR, multiplied by the number of such SARs which are exercised. 
  
 “Incentive Stock Option” shall mean an option to purchase shares of Common Stock that meets the requirements of Section 422 of the Code, or any
successor provision, which is intended by the Committee to constitute an Incentive Stock Option. 
  
 “Incumbent Board” shall have the meaning set forth in the definition of “Change in Control” in this Section 1.2. 
  
 “Mature Shares” shall mean previously-acquired shares of Common Stock for which the holder thereof has good title,
free and clear of all liens and encumbrances and which such holder either (i) has held for at least six months or (ii) has purchased on the open market. 
  
 “Nonqualified Stock Option” shall mean an option (including a Purchased Stock Option) to purchase shares of Common Stock which is not an Incentive
Stock Option. 
  
 “Outstanding Common Stock” shall have
the meaning set forth in the definition of “Change in Control” in this Section 1.2. 
  
 “Outstanding Voting Securities” shall have the meaning set forth in the definition of “Change in Control” in this Section 1.2. 
  
 “Performance Grant” shall mean an award conferring a right,
contingent upon the attainment of specified Performance Measures within a specified Performance Period, to receive shares of Common Stock, Restricted Stock, cash, or any combination thereof, as determined by the Committee or as evidenced in the
Agreement relating to such Performance Grant. 
  
 “Performance
Measures” shall mean the criteria and objectives that may be established by the Committee, which must be satisfied or met (i) as a condition to the exercisability of all or a portion of a Stock Option or SAR, (ii) as a condition to the
grant of a Restricted Stock Award or (iii) during the applicable Restriction Period or Performance Period as a condition to the holder’s receipt, in the case of a Restricted Stock Award, of the shares of Common Stock subject to such award, or,
in the case of a Performance Grant, of the shares of Common Stock or Restricted Stock subject to such award and/or of payment with respect to such award. Such criteria and objectives may include one or more of the following: the attainment by a
share of Common Stock of a specified value within or for a specified period of time, earnings per share, earnings before interest expense and taxes, return to stockholders (including dividends), return on equity, earnings, revenues, market share,
cash flow or cost reduction goals, or any combination of the foregoing. Such criteria and objectives may relate to results obtained by the individual, the Company, a Subsidiary, an Affiliate, or any business unit or division thereof, or may apply to
results obtained relative to a specific industry or a specific index. If the Committee desires that compensation payable pursuant to any award subject to Performance Measures be “qualified performance-based compensation” within the meaning
of Section 162(m) of the Code, the Performance Measures (i) shall be established by the Committee no later than the end of the first quarter of the Performance Period or Restriction Period, as applicable (or such other time designated by the United
States Internal Revenue Service) and (ii) shall satisfy all other 

  

 - 4 - 

 
applicable requirements imposed under United States Treasury Regulations promulgated under Section 162(m) of the Code, including the requirement that such
Performance Measures be stated in terms of an objective formula or standard. 
  
 “Performance Period” shall mean any period designated by the Committee or specified in an Agreement during which the Performance Measures applicable to a Performance Grant shall be measured. 
  
 “Permanent and Total Disability” shall have the meaning set forth in
Section 22(e)(3) of the Code or any successor thereto. 
  
 “Person” shall have the meaning set forth in the definition of “Change in Control” set forth in this Section 1.2. 
  
 “Plan” shall have the meaning set forth in Section 1.1. 
  

“Post-Termination Exercise Period” shall mean the period specified in or pursuant to Section 2.3(a), Section 2.3(b), Section 2.3(d) or Section
2.3(e) following termination of employment with or service to the Company during which a Stock Option or SAR may be exercised. 
  
 “Purchased Stock Option” shall mean a Nonqualified Stock Option that is sold to eligible individuals at a price determined by the Committee, has
an exercise price equal to the Fair Market Value of the Common Stock subject to such Stock Option on the date such Stock Option is sold to the eligible individual, and contains such additional terms and conditions as the Committee deems appropriate.

  
 “Related Employment” shall mean the employment or
performance of services by an individual for an employer that is neither the Company nor a Subsidiary nor an Affiliate, provided that (i) such employment or performance of services is undertaken by the individual at the request of the Company, a
Subsidiary or an Affiliate, (ii) immediately prior to undertaking such employment or performance of services, the individual was employed by or performing service for the Company, a Subsidiary, or an Affiliate or was engaged in Related Employment
and (iii) such employment or performance of services is in the best interests of the Company as determined by the Committee and is recognized by the Committee, in its discretion, as Related Employment. The death or Disability of an individual or his
or her involuntary termination of employment during a period of Related Employment shall be treated, for purposes of this Plan, as if the death, Disability or involuntary termination had occurred while the individual was employed by or performing
services for the Company, a Subsidiary or an Affiliate. 
  
 “Restricted
Stock” shall mean shares of Common Stock which are subject to a Restriction Period. 
  
 “Restricted Stock Award” shall mean an award of Restricted Stock under this Plan. 
  
 “Restriction Period” shall mean any period designated by the Committee during which the Common Stock subject to a Restricted Stock Award may not
be sold, transferred, assigned, pledged, hypothecated or otherwise encumbered or disposed of, except as provided in this Plan or the Agreement relating to such award. 
  

 - 5 - 

 “Retirement” shall mean an employee’s termination of employment with or service to the
Company by reason of retirement on or after (i) age 65, or (ii) age 55, provided the employee has completed at least 10 Years of Service, or (iii) such other date or circumstance determined by the Committee. 
  
 “SAR” shall mean a stock appreciation right which may be a
Free-Standing SAR or a Tandem SAR. 
  
 “Stock Option”
shall mean a Nonqualified Stock Option or an Incentive Stock Option. 
  
 “Subsidiary” shall mean any entity of which the Company owns or controls, directly or indirectly, 50% or more of the outstanding shares of stock normally entitled to vote for the election of directors (or comparable
equity participation and voting power). 
  
 “Tandem SAR”
shall mean an SAR which is granted in tandem with, or by reference to, a Stock Option (including a Stock Option granted prior to the date of grant of the SAR), which entitles the holder thereof to receive, upon exercise of such SAR and surrender for
cancellation of all or a portion of such Stock Option, shares of Common Stock (which may be Restricted Stock), cash or a combination thereof with an aggregate value equal to the excess of the Fair Market Value of one share of Common Stock on the
date of exercise over the base price of such SAR, multiplied by the number of shares of Common Stock subject to such Stock Option, or portion thereof, which is surrendered. 
  
 “Tax Date” shall have the meaning set forth in Section 5.5. 
  
 “Ten Percent Holder” shall have the meaning set forth in Section
2.1(a). 
  
 “Years of Service” shall mean (i) the number
of years of service credited to an individual under the First Data Corp. Incentive Savings Plan (“ISP”) or (ii) if the individual is not eligible to participate in the ISP, the number of such individual’s years of service, computed as
if the individual had been eligible to participate in the ISP while employed by the Company or a Subsidiary, provided, however, that unless otherwise provided in the Agreement, the computed number of years of service shall not include any period of
an individual’s employment with an Affiliate. 
  
 1.3.
Administration. This Plan shall be administered by the Committee. The Committee may grant any one or a combination of the following awards under this Plan to eligible persons: (i) Stock Options (in the form of Nonqualified Stock
Options or Incentive Stock Options), (ii) SARs (in the form of Tandem SARs or Free-Standing SARs), (iii) Restricted Stock Awards and (iv) Performance Grants. 
  
 The Committee shall, subject to the terms of this Plan, select eligible persons for participation in this Plan and determine the form, amount and timing of each award to
such persons, the exercise price or base price associated with the award, the time and conditions of exercise or settlement of the award and all other terms and conditions of the award, including, without limitation, the form of the Agreement
evidencing the award. 
  
 The Committee may, in its sole discretion and for any
reason at any time, take action such that (i) any or all outstanding Stock Options and SARs shall become exercisable in part or in full, (ii) all 

  

 - 6 - 

 
or a portion of the Restriction Period applicable to any outstanding Restricted Stock Award shall lapse, (iii) all or a portion of the Performance Period
applicable to any outstanding Performance Grant shall lapse and (iv) the Performance Measures applicable to any outstanding award (if any) shall be deemed to be satisfied at the maximum or any other level. 
  
 The Committee shall, subject to the terms of this Plan, interpret this Plan and the
application thereof, establish, amend and revoke rules and regulations it deems necessary or desirable for the administration of this Plan, adopt sub-plans applicable to specific Subsidiaries, Affiliates or locations and may impose, incidental to
the grant of an award, conditions with respect to the award, such as limiting competitive employment or other activities to the extent permitted under local law. The Committee may require, as a condition to the issuance, exercise, settlement or
acceptance of an award under this Plan, that the award recipient agree to mandatory arbitration to settle any disputes relating to such award. All such interpretations, rules, regulations and conditions shall be final, binding and conclusive.

  
 To the extent permitted by applicable law, the Committee may delegate some or
all of its power and authority hereunder to another entity or committee, a member of the Board, or one or more officers of the Company as the Committee deems appropriate; provided, however, that the Committee may not delegate its power and authority
to another entity or committee, a member of the Board, or one or more officers of the Company with regard to (i) the grant of an award to any person who is a “covered employee” within the meaning of Section 162(m) of the Code or who, in
the Committee’s judgment, is likely to be a covered employee at any time during the period an award hereunder to such employee would be outstanding, (ii) the selection for participation in this Plan of an officer or other person subject to
Section 16 of the Exchange Act or decisions concerning the timing, pricing or amount of an award to such an officer or other person, and (iii) any decision regarding the impact of a Change in Control on awards issued under the Plan. 
  
 No member of the Committee, and no entity, committee, member of the Board or officer to whom
the Committee delegates any of its power and authority hereunder, shall be liable for any act, omission, interpretation, construction or determination made in connection with this Plan in good faith, and the members of the Committee and such
entities, committees, members of the Board or officers shall be entitled to indemnification and reimbursement by the Company in respect of any claim, loss, damage or expense (including attorneys’ fees) arising therefrom to the full extent
permitted by law. 
  
 A majority of the Committee shall constitute a quorum. The
acts of the Committee shall be either (i) acts of a majority of the members of the Committee present at any meeting at which a quorum is present or (ii) acts approved in writing by all of the members of the Committee without a meeting. 

 
 1.4. Eligibility. Key employees of the Company, Subsidiaries and
Affiliates and other key individuals who perform services for the Company, a Subsidiary or an Affiliate are eligible to receive awards under this Plan, as the Committee in its sole discretion may select from time to time. The Committee’s
selection of a person to participate in this Plan at any time shall not require the Committee to select such person to participate in this Plan at any other time. 
  
 1.5. Shares Available. Subject to adjustment as provided in Section 5.7, 32,000,000 shares of Common Stock shall be
available under this Plan. Such number of available shares shall be 

  

 - 7 - 

 
reduced by the sum of the aggregate number of shares of Common Stock which become subject to outstanding Stock Options, outstanding Free-Standing SARs,
outstanding Restricted Stock Awards and outstanding Performance Grants. To the extent that shares of Common Stock subject to an outstanding Stock Option (except to the extent shares of Common Stock are issued or delivered by the Company in
connection with the exercise of a Tandem SAR), Free-Standing SAR, Restricted Stock Award or Performance Grant are not issued or delivered by reason of the expiration, termination, cancellation or forfeiture of such award or by reason of the delivery
or withholding of shares of Common Stock to pay all or a portion of the exercise price of an award, if any, or to satisfy all or a portion of the tax withholding obligations relating to an award, then such shares of Common Stock shall again be
available under this Plan. Shares of Common Stock shall be made available from authorized but unissued shares, treasury shares, reacquired shares, or any combination thereof. 
  
 Subject to adjustment as provided in Section 5.7, the aggregate number of shares of Common Stock with respect to which
Restricted Stock Awards, Performance Grants or a combination thereof shall be made under this Plan shall not exceed 15 percent of the aggregate number of shares of Common Stock available under this Plan, as set forth in the first sentence of this
Section 1.5. 
  
 To the extent necessary for an award to be
qualified performance-based compensation under Section 162(m) of the Code, the maximum aggregate number of shares of Common Stock with respect to which Stock Options, SARs, Restricted Stock, or Performance Grants may be issued to any individual
during a calendar year shall be one-half of one percent of the total number of outstanding shares of Common Stock of the Company as of the preceding December 31st. The maximum amount of cash payable during a calendar year to any person in connection with a Performance Grant shall be $8,000,000. 
  
 1.6 Employment. Unless otherwise expressly provided herein, references to
“employment” with the Company or “employment with or service to the Company” shall mean the employment with or service to the Company, a Subsidiary or an Affiliate, including transfers of employment between the Company, a
Subsidiary and an Affiliate, approved leaves of absence, and Related Employment. 
  
 II. STOCK OPTIONS AND STOCK APPRECIATION RIGHTS 
  
 2.1. Stock Options. The Committee may, in its discretion, grant Stock Options to such eligible persons as may be selected by the Committee. An Incentive Stock Option may not be granted to any person who is not an
employee of the Company or any parent or subsidiary (as defined in Section 424 of the Code). Each Incentive Stock Option shall be granted within ten years of the date this Plan is adopted by the Board. To the extent the aggregate Fair Market Value
(determined as of the date of grant) of shares of Common Stock with respect to which options designated as Incentive Stock Options are exercisable for the first time by a participant during any calendar year (under this Plan or any other plan of the
Company, or any parent or subsidiary as defined in Section 424 of the Code) exceeds the amount (currently $100,000) established by the Code, such options shall constitute Nonqualified Stock Options. 

  

 - 8 - 

 
Stock Options shall be subject to the following terms and conditions and shall contain such additional terms and conditions, not inconsistent with the terms
of this Plan, as the Committee shall deem advisable: 
  
 (a) Number of Shares
and Purchase Price. The number of shares of Common Stock subject to a Stock Option shall be determined by the Committee. The purchase price per share of Common Stock purchasable upon exercise of a Stock Option shall not be less than 100% of the
Fair Market Value of a share of Common Stock on the date of grant of such Stock Option; provided, however, that if an Incentive Stock Option shall be granted to any person who, at the time such Incentive Stock Option is granted, owns capital stock
possessing more than ten percent of the total combined voting power of all classes of capital stock of the Company (or of any parent or subsidiary as defined in Section 424 of the Code) (a “Ten Percent Holder”), the purchase price
per share of Common Stock shall be the price (currently 110% of Fair Market Value) required by the Code in order to constitute an Incentive Stock Option. 
  
 (b) Option Period and Exercisability. The period during which a Stock Option may be exercised shall be determined by the Committee; provided, however, that no
Incentive Stock Option shall be exercised later than ten years after its date of grant; provided further, that if an Incentive Stock Option shall be granted to a Ten Percent Holder, such Incentive Stock Option shall not be exercised later than five
years after its date of grant. The Committee may, in its discretion, establish Performance Measures which shall be satisfied or met as a condition to the grant of a Stock Option or to the exercisability of all or a portion of a Stock Option. The
Committee shall determine whether a Stock Option shall become exercisable in cumulative or non-cumulative installments and in part or in full at any time. An exercisable Stock Option, or portion thereof, may be exercised only with respect to whole
shares of Common Stock. 
  
 (c) Method of Exercise. A Stock Option may be
exercised (i) by giving written notice to the Company specifying the number of whole shares of Common Stock to be purchased and accompanied by payment therefor in full (or arrangement made for such payment to the Company’s satisfaction) either
(A) in cash, (B) by delivery (either actual delivery or by attestation procedures established by the Company) of Mature Shares having an aggregate Fair Market Value, determined as of the date of exercise, equal to the aggregate purchase price
payable by reason of such exercise, (C) in cash by a broker-dealer acceptable to the Company to whom the optionee has submitted an irrevocable notice of exercise or (D) by a combination of (A) and (B), in each case to the extent set forth in the
Agreement relating to the Stock Option, (ii) if applicable, by surrendering to the Company any Tandem SARs which are canceled by reason of the exercise of the Stock Option and (iii) by executing such documents as the Company may reasonably request.
Any fraction of a share of Common Stock which would be required to pay such purchase price shall be disregarded and the remaining amount due shall be paid in cash by the optionee. No certificate representing Common Stock shall be delivered until the
full purchase price therefor, and any withholding taxes thereon, as described in Section 5.5, have been paid (or arrangement made for such payment to the Company’s satisfaction). 
  
 (d) Minimum Vesting Period. Unless otherwise provided in the Agreement, no Stock Option may become exercisable until six months from
the date such Stock Option was granted. 
  
 (e) Repricing and Discounting.
Subject to Section 5.7, the repricing or discounting of Stock Options is expressly disallowed under this Plan. 
  

 - 9 - 

 2.2. Stock Appreciation Rights. The Committee may, in its discretion, grant SARs to such eligible
persons as may be selected by the Committee. The Agreement relating to an SAR shall specify whether the SAR is a Tandem SAR or a Free-Standing SAR. 
  
 SARs shall be subject to the following terms and conditions and shall contain such additional terms and conditions, not inconsistent with the terms of this Plan, as the
Committee shall deem advisable: 
  
 (a) Number of SARs and Base Price. The
number of SARs subject to an award shall be determined by the Committee. Any Tandem SAR related to an Incentive Stock Option shall be granted at the same time that such Incentive Stock Option is granted. The base price of a Tandem SAR shall be the
purchase price per share of Common Stock of the related Stock Option. The base price of a Free-Standing SAR shall not be less than 100% of the Fair Market Value of a share of Common Stock on the date such Free-Standing SAR is granted. 
  
 (b) Exercise Period and Exercisability. The Agreement relating to an award of SARs
shall specify whether such award may be settled in shares of Common Stock (including shares of Restricted Stock) or cash or a combination thereof. The period for the exercise of an SAR shall be determined by the Committee; provided, however, that no
Tandem SAR shall be exercised later than the expiration, cancellation, forfeiture or other termination of the related Stock Option. The Committee may, in its discretion, establish Performance Measures which shall be satisfied or met as a condition
to the grant of an SAR or to the exercisability of all or a portion of an SAR. The Committee shall determine whether an SAR may be exercised in cumulative or non-cumulative installments and in part or in full at any time. An exercisable SAR, or
portion thereof, may be exercised, in the case of a Tandem SAR, only with respect to whole shares of Common Stock and, in the case of a Free-Standing SAR, only with respect to a whole number of SARs. If an SAR is exercised for shares of Restricted
Stock, a certificate or certificates representing such Restricted Stock shall be issued in accordance with Section 3.2(c) and the holder of such Restricted Stock shall have such rights of a stockholder of the Company as determined pursuant to
Section 3.2(d). Prior to the exercise of an SAR for shares of Common Stock, including Restricted Stock, the holder of such SAR shall have no rights as a stockholder of the Company with respect to the shares of Common Stock subject to such SAR and
shall have rights as a stockholder of the Company in accordance with Section 5.10. 
  
 (c) Method of Exercise. A Tandem SAR may be exercised (i) by giving written notice to the Company specifying the number of whole SARs which are being exercised, (ii) by surrendering to the Company any Stock Options which are canceled
by reason of the exercise of the Tandem SAR and (iii) by executing such documents as the Company may reasonably request. A Free-Standing SAR may be exercised (i) by giving written notice to the Company specifying the whole number of SARs which are
being exercised and (ii) by executing such documents as the Company may reasonably request. 
  
 (d) Minimum Vesting Period. Unless otherwise provided in the Agreement, no SAR may become exercisable until six months from the date such SAR was granted. 
  
 (e) Repricing and Discounting. Subject to Section 5.7, the repricing or discounting of
SARs is expressly disallowed under this Plan. 
  

 - 10 - 

 2.3. Termination of Employment or Service. 
  
 (a) Disability. Unless otherwise specified in the Agreement, if the employment with or service to the Company of the holder of a
Stock Option or SAR terminates by reason of Disability, each Stock Option and SAR held by such holder shall become fully vested and exercisable and may thereafter be exercised by such holder (or such holder’s legal representative or similar
person) until the date which is one year after the effective date of such holder’s termination of employment or service, or if earlier, the expiration date of the term of such Stock Option or SAR. 
  
 (b) Retirement. Unless otherwise specified in the Agreement, if the employment with or
service to the Company of the holder of a Stock Option or SAR terminates by reason of Retirement, each Stock Option and SAR held by such holder shall continue to vest in accordance with its terms, and to the extent vested, may thereafter be
exercised by such holder (or such holder’s legal representative or similar person) until the date which is four years after the effective date of such holder’s termination of employment or service, or if earlier, the expiration date of the
term of such Stock Option or SAR. 
  
 (c) Death. Unless otherwise specified
in the Agreement, if the employment with or service to the Company of the holder of a Stock Option or SAR terminates by reason of death, each Stock Option and SAR held by such holder shall become fully vested and exercisable and may thereafter be
exercised by such holder’s executor, administrator, legal representative, beneficiary or similar person until the date which is one year after the date of death, or if earlier, the expiration date of the term of such Stock Option or SAR.

  
 (d) Involuntary Termination Without Cause. Unless otherwise specified
in the Agreement, and except as provided in this subsection and Section 5.8, if the employment with or service to the Company of the holder of a Stock Option or SAR is terminated by the Company, a Subsidiary or an Affiliate without Cause, each Stock
Option and SAR held by such holder shall cease to vest, and to the extent already vested, may thereafter be exercised by such holder (or such holder’s legal representative or similar person) until the date which is three months after such
involuntary termination, or if earlier, the expiration date of the term of such Stock Option or SAR. Notwithstanding the foregoing, and subject to the provisions of Section 5.8, each Stock Option or SAR granted on or after July 26, 2005 to a holder
described in the foregoing sentence who is a participant in the Severance/Change in Control policy applicable to members of the Company’s executive committee shall continue to vest in accordance with its terms, and to the extent vested, may
thereafter be exercised by such holder (or such holder’s legal representative or similar person) until the end of the severance period applicable to the holder under such Severance/Change in Control policy or, if earlier, the expiration date of
the term of such Stock Option or SAR. 
  
 (e) Other Termination. Unless
otherwise specified in the Agreement, if the employment with or service to the Company of the holder of a Stock Option or SAR terminates for any reason other than Disability, Retirement, death, or involuntary termination without Cause, each Stock
Option and SAR held by such holder shall cease to vest, and to the extent already vested, may thereafter be exercised by such holder (or such holder’s legal representative or similar person) until the close of the New York Stock Exchange (if
open) on the date of such holder’s termination of employment or service. If the New York Stock Exchange is closed at the time of such holder’s 

  

 - 11 - 

 
termination of employment, then such Stock Option or SAR shall be forfeited at the time such holder’s employment is terminated and shall be canceled by
the Company. 
  
 (f) Death Following Termination of Employment or Service.
Unless otherwise specified in the Agreement, if the holder of a Stock Option or SAR dies during the applicable Post-Termination Exercise Period, each Stock Option and SAR held by such holder shall be exercisable only to the extent that such Stock
Option or SAR is exercisable on the date of such holder’s death and may thereafter be exercised by the holder’s executor, administrator, legal representative, beneficiary or similar person until the date which is one year after the date of
death, or if earlier, the expiration date of the term of such Stock Option or SAR. 
  
 III. RESTRICTED STOCK AWARDS 
  
 3.1.
Restricted Stock Awards. The Committee may, in its discretion, grant Restricted Stock Awards to such eligible persons as may be selected by the Committee. 
  
 3.2. Terms of Restricted Stock Awards. Restricted Stock Awards shall be subject to the following terms and conditions
and shall contain such additional terms and conditions, not inconsistent with the terms of this Plan, as the Committee shall deem advisable. 
  
 (a) Number of Shares and Other Terms. The number of shares of Common Stock subject to a Restricted Stock Award and the Performance Measures (if any) and the
Restriction Period applicable to a Restricted Stock Award shall be determined by the Committee. 
  
 (b) Vesting and Forfeiture. The Agreement relating to a Restricted Stock Award shall provide, in the manner determined by the Committee, in its discretion, and subject to the provisions of this Plan, for the
vesting of the shares of Common Stock subject to such award (i) if specified Performance Measures are satisfied or met during the specified Restriction Period or (ii) if the holder of such award remains continuously in the employment of or service
to the Company during the specified Restriction Period and for the forfeiture of all or a portion of the shares of Common Stock subject to such award (x) if specified Performance Measures are not satisfied or met during the specified Restriction
Period or (y) if the holder of such award does not remain continuously in the employment of or service to the Company during the specified Restriction Period. 
  

(c) Share Certificates. During the Restriction Period, a certificate or certificates representing a Restricted Stock Award may be registered in the
holder’s name or a nominee name at the discretion of the Company and may bear a legend, in addition to any legend which may be required pursuant to Section 5.6, indicating that the ownership of the shares of Common Stock represented by such
certificate is subject to the restrictions, terms and conditions of this Plan and the Agreement relating to the Restricted Stock Award. As determined by the Committee, all certificates registered in the holder’s name shall be deposited with the
Company, together with stock powers or other instruments of assignment (including a power of attorney), each endorsed in blank with a guarantee of signature if deemed necessary or appropriate by the Company, which would permit transfer to the
Company of all or a portion of the shares of Common Stock subject to the Restricted Stock Award in the event such award is forfeited in whole or in part. Upon termination of any applicable Restriction Period (and the satisfaction or attainment of
applicable Performance Measures), subject to the Company’s right to require payment of any taxes in 

  

 - 12 - 

 
accordance with Section 5.5, a certificate or certificates evidencing ownership of the requisite number of shares of Common Stock shall be delivered to the
holder of such award. 
  
 (d) Rights with Respect to Restricted Stock
Awards. Unless otherwise set forth in the Agreement relating to a Restricted Stock Award, the holder of such award shall have all rights as a stockholder of the Company, including voting rights, the right to receive dividends and the right to
participate in any capital adjustment applicable to all holders of Common Stock; provided, however, that a distribution with respect to shares of Common Stock shall be deposited with the Company and shall be subject to the same restrictions as the
shares of Common Stock with respect to which such distribution was made. 
  
 (e) Minimum Restriction Period. The minimum Restriction Period shall be one year. 
  
 3.3. Termination of Employment or Service. 
  
 (a) Disability and Death. Unless otherwise set forth in the Agreement relating to a Restricted Stock Award, if the employment with or service to the Company of the holder of such award terminates by reason of
Disability or death, the Restriction Period shall terminate as of the effective date of such holder’s termination of employment or service and all Performance Measures applicable to such award shall be deemed to have been satisfied at the
maximum level. 
  
 (b) Retirement. Unless otherwise set forth in the
Agreement relating to a Restricted Stock Award, if the employment with or service to the Company of the holder of such award terminates by reason of Retirement, the Restriction Period shall terminate as of the date specified in the Agreement, after
which time all Performance Measures applicable to such award shall be deemed to have been satisfied at the maximum level and such Restricted Stock shall be released to the holder of the award as of such specified date; provided, however, that any
Restricted Stock Award that is subject to a Restriction Period extending beyond four years from the date of such holder’s Retirement shall be immediately forfeited and canceled. 
  
 (c) Other Termination. Unless otherwise set forth in the Agreement relating to a Restricted Stock Award, and except as provided in
this subsection and Section 5.8, if the employment with or service to the Company of the holder of a Restricted Stock Award terminates for any reason other than Disability, Retirement or death, the portion of such award which is subject to a
Restriction Period on the effective date of such holder’s termination of employment or service shall be immediately forfeited by such holder and canceled by the Company. Notwithstanding the foregoing, and subject to the provisions of Section
5.8, the holder of any Restricted Stock Award granted on or after July 26, 2005 (other than the holder of an award which vests only if specified Performance Measures are satisfied) whose employment with the Company is terminated by the Company, a
Subsidiary or an Affiliate without Cause and who is a participant in the Severance/Change in Control policy applicable to members of the Company’s executive committee shall be treated as having remained continuously employed by the Company for
purposes of the Restriction Period applicable to such award during the severance period applicable to the holder under such Severance/Change in Control policy. The portion of any Restricted Stock Award which is subject to a Restriction Period at the
time of the expiration of such severance period shall be immediately forfeited by the holder and canceled by the Company. 
  

 - 13 - 

 IV. PERFORMANCE GRANTS 
  
 4.1. Performance Grants. The Committee may, in its discretion, make Performance Grants to such eligible persons as may
be selected by the Committee. 
  
 4.2. Terms of Performance
Grants. Performance Grants shall be subject to the following terms and conditions and shall contain such additional terms and conditions, not inconsistent with the terms of this Plan, as the Committee shall deem advisable. 
  
 (a) Amount of Performance Grant and Performance Measures. The Agreement shall provide
the amount of the Performance Grant and a description of the Performance Measures and the Performance Period applicable to such Performance Grant, as determined by the Committee in its discretion. 
  
 (b) Vesting and Forfeiture. The Agreement shall provide, in the manner determined by
the Committee in its discretion, for the vesting of a Performance Grant, if specified Performance Measures are satisfied during the specified Performance Period, and for the forfeiture of all or a portion of such award, if specified Performance
Measures are not satisfied during the specified Performance Period. 
  
 (c)
Settlement of Vested Performance Grants. The Agreement (i) shall specify whether a Performance Grant may be settled in shares of Common Stock, Restricted Stock, or cash or a combination thereof and (ii) may specify whether the holder thereof
shall be entitled to receive, on a current or deferred basis, dividend equivalents, and, if determined by the Committee, interest on or the deemed reinvestment of any deferred dividend equivalents, with respect to the number of shares of Common
Stock subject to such award, if any. If a Performance Grant is settled in shares of Restricted Stock, a certificate or certificates representing such Restricted Stock shall be issued in accordance with Section 3.2(c) and the holder of such
Restricted Stock shall have such rights of a stockholder of the Company as determined pursuant to Section 3.2(d). Prior to the settlement of a Performance Grant in shares of Common Stock or Restricted Stock the holder of such award shall have no
rights as a stockholder of the Company with respect to any shares of Common Stock subject to such award and shall have rights as a stockholder of the Company in accordance with Section 5.10.  
  
 (d) Minimum Performance Period. The minimum Performance Period for any Performance
Grant is one year from the date such grant is made. 
  
 4.3. Termination of
Employment or Service. 
  
 (a) Disability, Retirement and Death.
Unless otherwise set forth in the Agreement, if the employment with or service to the Company of the holder of a Performance Grant terminates during the Performance Period by reason of Disability, Retirement or death, the Performance Period shall
continue and the holder, or the holder’s executor, administrator, legal representative, beneficiary or similar person, as applicable, shall be entitled to a prorated award. Such prorated award shall be equal to the value of the award at the end
of the Performance Period multiplied by a fraction, the numerator of which shall equal the number of months such holder was employed with or performing services for the Company during the Performance Period (fractional months shall be ignored) and
the denominator of which shall equal the number of months in the Performance Period; provided, however, that such holder, or such holder’s executor, 

  

 - 14 - 

 
administrator, legal representative, beneficiary or similar person, as applicable, shall not be entitled to payment or distribution of such Performance Grant
earlier than the date set forth in the Agreement. 
  
 (b) Other
Termination. Unless otherwise set forth in the Agreement, if the employment with or service to the Company of the holder of a Performance Grant terminates during the Performance Period for any reason other than Disability, Retirement or death,
each Performance Grant that is not vested shall be immediately forfeited. 
  
 V. GENERAL 
  
 5.1. Effective
Date and Term of Plan. This Plan shall be submitted to the stockholders of the Company for approval and, if approved, shall become effective as of the date of approval by the Board. No Stock Option may be exercised prior to the date of such
stockholder approval. This Plan shall terminate when shares of Common Stock are no longer available for the grant, exercise or settlement of awards, unless terminated earlier by the Board. Termination of this Plan shall not affect the terms or
conditions of any award granted prior to termination. If this Plan is not approved by the stockholders of the Company, this Plan and any awards granted hereunder shall be null and void. 
  
 5.2. Amendments. The Board or the Committee may amend or terminate this Plan as it shall deem advisable, subject to any
requirement of stockholder approval required by applicable law, rule or regulation, including Section 162(m) and Section 422 of the Code; provided, however, that no amendment shall be made without stockholder approval if such amendment would (i)
increase the maximum number of shares of Common Stock available under this Plan (subject to Section 5.7) or (ii) effect any change inconsistent with Section 422 of the Code. No amendment may impair the rights of a holder (the determination of which
shall be made by the Committee in its sole discretion) of an outstanding award without the consent of such holder. 
  
 5.3. Agreement. The Company may condition an award holder’s right (i) to exercise, vest or settle the award and (ii) to receive delivery of
shares, on the execution and delivery to the Company of the Agreement and the completion of other requirements, including, but not limited to, the execution of a nonsolicitation agreement by the recipient and delivery thereof to the Company.

  
 5.4. Transferability of Stock Options. Stock Options may
not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of by the holder thereof, except by will or the laws of descent and distribution; provided, however, that unless otherwise specified in the Agreement, as long as the
holder continues employment with or service to the Company, such holder may transfer Stock Options to a Family Member or Family Entity without consideration; provided, however, in the case of a transfer of Stock Options to a limited liability
company or a partnership which is a Family Entity, such transfer may be for consideration consisting solely of an entity interest in the limited liability company or partnership to which the transfer is made. Any transfer of Stock Options shall be
in a form acceptable to the Committee, shall be signed by the holder and shall be effective only upon written acknowledgement by the Committee of its receipt and acceptance of such notice. If a Stock Option is transferred to a Family Member or to a
Family Entity, such Stock Option may not thereafter be sold, assigned, transferred, pledged, hypothecated 

  

 - 15 - 

 
or otherwise disposed of by such Family Member or Family Entity except by will or the laws of descent and distribution. 
  
 5.5. Tax Withholding. The Company shall have the right to require, as of
the grant, vesting, or exercise of an award, the sale of any shares of Common Stock, the receipt of any dividends or the payment of any cash pursuant to an award made hereunder, payment by the holder of such award of any federal, state, local or
other income, social insurance, payroll or other tax-related items which may be required to be withheld or paid in connection with such award. An Agreement may provide that (i) the Company shall withhold whole shares of Common Stock which would
otherwise be delivered to a holder, including withholding from wages or other cash compensation otherwise due to the holder, having an aggregate Fair Market Value determined as of the date the obligation to withhold or pay taxes arises in connection
with an award (the “Tax Date”), or withhold an amount of cash which would otherwise be payable to a holder, in the amount necessary to satisfy any such obligation or (ii) the holder may satisfy any such obligation by any of the
following means: (A) a cash payment to the Company, (B) delivery (either actual delivery or by attestation procedures established by the Company) to the Company of Common Stock having an aggregate Fair Market Value, determined as of the Tax Date,
equal to the amount necessary to satisfy any such obligation, (C) authorizing the Company to withhold whole shares of Common Stock which would otherwise be delivered having an aggregate Fair Market Value, determined as of the Tax Date, or withhold
an amount of cash which would otherwise be payable to a holder, equal to the amount necessary to satisfy any such obligation, (D) in the case of the exercise of a Stock Option, a cash payment by a broker-dealer acceptable to the Company to whom the
optionee has submitted an irrevocable notice of exercise, in each case to the extent set forth in the Agreement relating to an award, or (E) any combination of (A) and (B). Shares of Common Stock to be delivered or withheld may not have an aggregate
Fair Market Value in excess of the amount determined by applying the minimum statutory withholding rate. Any fraction of a share of Common Stock which would be required to satisfy such an obligation shall be disregarded and the remaining amount due
shall be paid in cash by the holder 
  
 5.6. Restrictions on
Shares. Each award made hereunder shall be subject to the requirement that if at any time the Company determines that the listing, registration or qualification of the shares of Common Stock subject to such award upon any securities exchange
or under any law, or the consent or approval of any governmental body, or the taking of any other action is necessary or desirable as a condition of, or in connection with, the vesting, exercise or settlement of such award or the delivery of shares
thereunder, such award shall not vest, be exercised or settled and such shares shall not be delivered unless such listing, registration, qualification, consent, approval or other action shall have been effected or obtained, free of any conditions
not acceptable to the Company. In addition, the Committee may condition the grant of an award on compliance with certain listing, registration or other qualifications applicable to the award under any law or any obligation to obtain the consent or
approval of a governmental body. The Company may require that certificates evidencing shares of Common Stock delivered pursuant to any award made hereunder bear a legend indicating that the sale, transfer or other disposition thereof by the holder
is prohibited except in compliance with the Securities Act of 1933, as amended, and the rules and regulations thereunder. 
  
 5.7. Adjustment. In the event of any stock split, stock dividend, recapitalization, reorganization, merger, consolidation, combination, exchange of
shares, liquidation, spin-off or other similar change in capitalization or event, or any distribution to holders of Common Stock 

  

 - 16 - 

 
other than a regular cash dividend, the number and class of securities available under this Plan, the maximum number of securities available for Restricted
Stock Awards and Performance Grants, the number and class of securities subject to each outstanding Stock Option and the purchase price per security, the terms of each outstanding Stock Option, the maximum number of securities with respect to which
Stock Options or SARs (or a combination thereof), or Restricted Stock Awards or Performance Grants may be made or granted during any calendar year to any person, the terms of each outstanding SAR, the number and class of securities subject to each
outstanding Restricted Stock Award or Performance Grant, and the terms of each outstanding Restricted Stock Award or Performance Grant shall be appropriately adjusted by the Committee, such adjustments to be made in the case of outstanding Stock
Options and SARs without an increase in the aggregate purchase price or base price. The decision of the Committee regarding any such adjustment shall be final, binding and conclusive. If any such adjustment would result in a fractional security
being (a) available under this Plan, such fractional security shall be disregarded, or (b) subject to an award under this Plan, the Company shall pay the holder of such award, in connection with the first vesting, exercise or settlement of such
award in whole or in part occurring after such adjustment, an amount in cash determined by multiplying (i) the fraction of such security (rounded to the nearest hundredth) by (ii) the excess, if any, of (A) the Fair Market Value on the vesting,
exercise or settlement date over (B) the exercise or base price, if any, of such award. 
  
 5.8. Change in Control. As of the effective date of a Change in Control (a) each outstanding Stock Option and SAR granted under the Plan shall become fully vested and exercisable, (b) the Restriction Period applicable
to each outstanding Restricted Stock Award granted under the Plan shall lapse, (c) the Performance Period applicable to any outstanding Performance Grant issued under the Plan (other than a Shareholder Value Plan Award issued prior to July 26, 2005)
shall lapse, and (d) the Performance Measures applicable to any outstanding award under the Plan (other than a Shareholder Value Plan Award issued prior to July 26, 2005) shall be deemed to be satisfied at the target level (or if greater, at the
performance level actually attained). Notwithstanding any provision of this Plan to the contrary, each Stock Option or SAR granted on or after July 26, 2005 to a holder whose employment is terminated for an eligible reason according to the terms of
the Company severance policy applicable to the holder as of the effective date of a Change in Control during the period commencing on and ending twenty-four months after the effective date of the Change in Control shall remain exercisable by such
holder (or his or her legal representative or similar person) until the earlier of (y) the end of the non-conditional component of the severance period applicable to the holder under such severance policy or, if later, the end of the exercise period
otherwise applicable to the award under the Plan, or (z) the expiration date of the term of the Stock Option or SAR. 
  
 5.9. No Right of Participation or Employment. No person shall have any right to participate in this Plan. Neither this Plan nor any award made
hereunder shall confer upon any person any right to continued employment by the Company, any Subsidiary or any Affiliate of the Company or affect in any manner the right of the Company, any Subsidiary or any Affiliate of the Company to terminate the
employment of any person at any time without liability hereunder. 
  
 5.10.
Rights as Stockholder. No person shall have any right as a stockholder of the Company with respect to any shares of Common Stock or other equity security of the Company which is 

  

 - 17 - 

 
subject to an award hereunder unless and until such person becomes a stockholder of record with respect to such shares of Common Stock or equity security.

  
 5.11. Designation of Beneficiary. If permitted by the
Committee, the holder of an award may file with the Committee a written designation of one or more persons as such holder’s beneficiary or beneficiaries (both primary and contingent) in the event of the holder’s death. To the extent an
outstanding Stock Option or SAR granted hereunder is exercisable, such beneficiary or beneficiaries shall be entitled to exercise such Stock Option or SAR to the extent permitted under local law. 
  
 Each beneficiary designation shall become effective only when filed in writing with the
Committee during the holder’s lifetime on a form prescribed by the Committee. The spouse of a married holder domiciled in a community property jurisdiction shall join in any designation of a beneficiary other than such spouse. The filing with
the Committee of a new beneficiary designation shall cancel all previously filed beneficiary designations. 
  
 If a holder fails to designate a beneficiary, or if all designated beneficiaries of a holder predecease the holder, then each outstanding Stock Option and SAR hereunder held by such holder, to the extent exercisable,
may be exercised by such holder’s executor, administrator, legal representative or similar person. 
  
 5.12. Governing Law. This Plan, each award hereunder and the related Agreement, and all determinations made and actions taken pursuant thereto, to the extent not otherwise governed by the Code or
the laws of the United States, shall be governed by the laws of the State of Delaware and construed in accordance therewith without giving effect to principles of conflicts of laws. 
  
 5.13. Foreign Employees. The Committee may adopt, amend or rescind rules, procedures or sub-plans relating to the
operation and administration of the Plan to accommodate the specific requirements of local laws and procedures and to foster and promote achievement of the purposes of this Plan. Without limiting the generality of the foregoing, the Committee is
specifically authorized to adopt rules, procedures and sub-plans with provisions that limit or modify rights on death, Disability or Retirement or on termination of employment; available methods of exercise or settlement of an award; payment of
income, social insurance contributions and payroll taxes; the withholding procedures and handling of stock certificates which vary with local requirements. The Committee may also adopt rules, procedures or sub-plans applicable to particular
Subsidiaries, Affiliates or locations. The rules of such sub-plans may take precedence over other provisions of this Plan, with the exception of Sections 1.5 and 5.2, but unless otherwise superseded by the terms of such sub-plan, the provisions of
this Plan shall govern the operation of such sub-plan. 
  
 5.14.
Termination of Employment or Service. Unless otherwise determined by the Committee, an award holder employed by or providing service to an entity that is a Subsidiary or an Affiliate under this Plan shall be deemed to have
terminated employment with or service to the Company for purposes of this Plan on the date that such entity ceases to be a Subsidiary or an Affiliate hereunder. 
  

 - 18 -

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