Document:

Exhibit

Exhibit 10.3

NOTICE OF RESTRICTED STOCK UNIT GRANT

(Non-Employee Director Restricted Stock Unit Award)

To carry out the purposes of the Lexicon Pharmaceuticals, Inc. 2017 Non-Employee Directors’ Equity Incentive Plan (the “Plan”), by providing ___________ (“Director”) the right to receive shares of Common Stock, par value $0.001 per share (the “Stock”) of LEXICON PHARMACEUTICALS, INC. (the “Company”) in accordance with the Plan, the Company hereby provides notice to Director as follows:

1.    Grant of Restricted Stock Unit Award.  Effective as of ___________ (the “Grant Date”), the Company has granted Director a Restricted Stock Unit Award (as defined in the Plan) consisting of the right to receive an aggregate of __________ shares of Stock (the “Shares”), on the terms and conditions set forth in this Notice and in the Plan.  

1.    Vesting.  Subject to the terms and conditions set forth in this Notice and the Plan, the Restricted Stock Unit Award shall vest with respect to the total number of Shares on the first anniversary of the Grant Date; provided, that such vesting schedule may be accelerated upon a change in control of the Company pursuant to the provisions of the Plan.

2.    Forfeiture upon Termination of Service.  Simultaneously with the termination of Director’s Continuous Service (as defined in the Plan) prior to the vesting of Director’s rights to receive the Shares in accordance with Section 2 of this Notice, Director shall automatically forfeit all rights to receive the Shares, unless and except to the extent otherwise determined by the Board (as defined in the Plan).  

3.    Issuance of Shares upon Vesting.  Subject to the other provisions of this Notice, upon vesting of the Shares in accordance with Section 2 of this Notice, the Company shall provide Director with prompt notice of such vesting event and issue the Shares to Director for no additional consideration.

4.    No Rights of Ownership in Shares Before Issuance.  No person shall be entitled to the rights and privileges of stock ownership with respect to any of the Shares issuable upon vesting of the Restricted Stock Unit Award until such Shares have been issued in accordance with the terms of this Notice and the Plan.

5.    Non-Transferability.  Director’s rights under the Restricted Stock Unit Award may not be transferred by Director otherwise than by will or the laws of descent and distribution or pursuant to a qualified domestic relations order (as defined in Title I of the Employee Retirement Income Security Act of 1974, as amended, or the rules thereunder.

6.    Withholding of Tax.   Director shall be liable for any and all federal, state or local taxes, including withholding taxes, arising out of the grant or vesting of Shares hereunder.  To the extent that the Company is required under applicable federal or state income tax laws to withhold any amount on account of any present or future tax imposed as a result of the grant or vesting of the Shares hereunder, Director shall pay the Company, at the time of such grant or vesting of Shares, funds in an amount sufficient to permit the Company to satisfy such withholding obligations in full.  If Director fails to pay such amount, the Company shall be authorized (i) to withhold from any cash remuneration then or thereafter payable to Director any tax required to be withheld or (ii) to refuse to issue or transfer any Shares otherwise required to be issued pursuant to the terms of this Notice.

7.    2017 Non-Employee Directors’ Equity Incentive Plan.  The Plan, a copy of which is available for inspection by Director at the Company’s principal executive office during business hours, is incorporated by reference in this Notice.  This Notice is subject to, and the Company and Director agree to be bound by, all of the terms and conditions of the Plan.  In the event of a conflict between this Notice and the Plan, the terms of the Plan shall control.  Subject to the terms of the Plan, the administrator of the Plan shall have authority to construe the terms of this Notice, and the determinations of the administrator of the Plan shall be final and binding on Director and the Company.  This Notice shall constitute a Stock Award Agreement (as defined in the Plan) evidencing the terms and conditions of the Restricted Stock Unit Award for all purposes under the Plan.

1cday-ex101_130.htm

Exhibit 10.1

Ceridian HCM Holding Inc.

2019 Management Incentive Plan (“MIP”)

The MIP is a discretionary, incentive cash compensation plan designed to drive company results related to our key financial metrics.  Participants in the MIP are active eligible employees of Ceridian HCM Holding Inc. (“Ceridian”) and its subsidiaries who play a key role in Ceridian accomplishing its objectives. The Compensation Committee of Board of Directors (“Board”) of Ceridian has approved the MIP, including the Incentive Components as set forth below. The Board will consider the achievement of the Incentive Components to determine whether a payment will be made to participants in the MIP.

Incentive Components

	
 
	
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Revenue (50%)

The purpose of the Revenue component is to drive total revenue growth across the business.

	
 
	
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Adjusted EBITDA (50%) 

The purpose of the adjusted EBITDA component is to provide focus on Ceridian’s profitability.  

Any MIP payout will be determined by the Board, in its sole discretion, based upon the achievement of one or both Incentive Components at Target. The Incentive Components are calculated based on Ceridian’s operating results, adjusted for foreign currency and interest rate impacts plus other unique impacts to Ceridian as determined by the Board. Achievement levels of the Incentive Component(s) below Target may result in no MIP payout. 

 

				
	
Weighting of Employee’s Individual MIP Target
	
Incentive 

Component
	
Target

2019 External Guidance (Based on the Q4 2018 Earnings Release)

	
Incentive Component Result
	
Incentive Component Payout %

	
50%
	
REVENUE 
	
$810M
	
100%

	
50%
	
ADJUSTED EBITDA
	
$182M
	
100%

 

Note:  All figures are in USD$ Millions.

Plan Eligibility

	
 
	
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The MIP applies to designated employees, as approved by management in its sole discretion, who are leveled as Management in Grades 7 and above and Professional Individual Contributors in Grades 10 and above.

	
 
	
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Eligible employees, including new hires and promotions/job changes, must be actively employed on or before October 1, 2019 to be eligible for MIP. Proration for MIP is based on the employee’s date of eligibility and duration of active employment in the incentive period. Employees on long term leaves are not considered actively employed. 

	
 
	
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Employees who previously met MIP eligibility criteria and management has approved their continued participation for 2019. 

	
 
	
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Ceridian retains the right to amend these eligibility criteria in its sole discretion.

Plan Payment Opportunity

	
 
	
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Ceridian offers no employee any guarantee of any expectation of receiving an incentive or any incentive payment under the MIP.

	
 
	
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Employees will be provided their individual MIP target, a percentage of their base salary (“Individual MIP Target”).

	
 
	
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Any MIP payment will be calculated based upon the employee’s base salary multiplied by the employee’s Individual MIP Target percent multiplied by the weighting for the Incentive Component (50% as above). Then multiplied by the Incentive Component Payout % based on the specific Incentive Component Result.

	
 
	
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An employee terminated on or prior to September 30, 2019, for any reasons (including with or without just cause or by resignation), is not eligible for any portion of the MIP for the year in which they are terminated, regardless of whether the employee may be entitled to receive compensation, severance or pay in lieu of notice of termination.  

	
 
	
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For the purposes of the MIP, employment is considered to terminate on the last date of active employment. In no circumstance will a period relating to pay in lieu of notice or severance be included for eligibility or pay purposes. The employee will not be entitled to recover damages or any other form of compensation in lieu of the incentive payment to which the employee may otherwise have been entitled under the MIP (unless required by local law).    

 

	
 
	
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Employees who resign their employment on or before the incentive payment date or are terminated for cause (or for gross misconduct serious as to justify summary dismissal) at any time, are not eligible for MIP of any nature. 

	
 
	
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The MIP is discretionary and subject to change from time to time, including discontinuation, at Ceridian’s sole discretion.

	
 
	
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Any MIP payments do not vest to the employee nor are deemed wages until and if it is paid.

	
 
	
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Any MIP payments will be made as soon as administratively feasible upon approval from the Board in the calendar year following the applicable incentive period year.  

Incentive Period

January 1, 2019 through December 31, 2019.  

Entire Agreement

This document represents the entire agreement with respect to the MIP and replaces all prior agreements or representations with respect to the MIP.  Neither the employee nor Ceridian rely upon, or regard as material, any representation (oral or in writing) not expressly included in this document.

Executive Officer Target Incentive Compensation Levels in the 2019 MIP

On February 5, 2019, the target incentive compensation level for David D. Ossip, our Chair of the Board and Chief Executive Officer, is $800,000, or 114% of his current base salary.  On February 5, 2019, the target incentive compensation level for each of our other executive officers as a percentage of base salary is:  60% for Leagh E. Turner, our President; 80% for Paul D. Elliott, our Chief Operating Officer; 80% for Arthur Gitajn our Executive Vice President and Chief Financial Officer; 60% for Ozzie J. Goldschmied our Executive Vice President and Chief Technology Officer; 60% for Scott A. Kitching our Executive Vice President, General Counsel and Assistant Secretary; 60% for Lisa M. Sterling our Executive Vice President and Chief People and Culture Officer; and 60% for Erik J. Zimmer our Executive Vice President and Chief Strategy Officer.

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