Document:

exv10w2

Exhibit 10.2

___ Performance Units

SUPPLEMENTAL

2011 PERFORMANCE UNIT AGREEMENT

          This Supplemental 2011 Performance Unit Agreement (this “Agreement”) is between Oceaneering
international, inc. (the “Company”) and                      (the “Participant”), an employee of
the Company or one of its Subsidiaries, regarding an award (“2011 Performance Award”) of ___ units (“Performance Units”), each representing an initial notional value of $100.00, under the
2010 Incentive plan of oceaneering international, inc. (the “Plan”), awarded to the
Participant effective May 6, 2011 (the “Award Date”), and subject to the following terms and conditions:

     1. Relationship to Plan. This Award is subject to all of the terms, conditions and provisions
of the Plan and administrative interpretations thereunder, if any, which have been adopted by the
Committee thereunder and are in effect on the date hereof. Except as defined or otherwise
specifically provided herein, capitalized terms shall have the same meanings ascribed to them under
the Plan.

     2. Vesting.

     (a) The 2011 Performance Award hereby granted shall become vested in full on February
25, 2014, provided the Participant is in Service on such anniversary date.

     (b) Performance Units subject to this 2011 Performance Award shall vest, irrespective
of the provisions set forth in Subparagraph (a) above, provided that the Participant has
been in continuous Service from the Award Date until the December 15th following the later
of (i) the Award Date, and (ii) his attainment of Retirement Age, in the following amounts
provided the Participant is in Service on the applicable December 15th:

     (i) if such December 15th occurs within one year following the Award
Date, on such December 15th, one-third of the 2011 Performance Award shall
be thereupon vested and an additional one-third of the 2011 Performance
Award shall vest on each of the two subsequent anniversaries of such
December 15th;

     (ii) if such December 15th occurs between one and two years following
the Award Date, on such December 15th, two-thirds of the 2011 Performance
Award shall thereupon be vested and an additional one-third of the 2011
Performance Award shall vest on the subsequent anniversary of such December
15th; and

     (iii) if such December 15th occurs between two and three years
following the Award Date, on such December 15th, the entire 2011 Performance
Award shall thereupon be vested.

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     (c) All Performance Units subject to this 2011 Performance Award shall vest,
irrespective of the provisions set forth in Subparagraphs (a) or (b) above, provided that
the Participant has been in continuous Service since the Award Date, upon the earliest to
occur of the applicable of the following:

     (i) the date that the Company or any successor to the Company
terminates the Participant’s employment with the Company and its
Subsidiaries for any reason on or after a Change of Control;

     (ii) the date that the Participant’s employment with the Company and
its Subsidiaries is terminated after the Participant’s aggregate value of
total annual compensation (including salary, bonuses, long and short-term
incentives, deferred compensation and award of stock options, as well as all
other benefits in force on the date immediately prior to a Change of
Control) as an employee of the Company or one of its Subsidiaries is reduced
to a value that is ninety-five percent (95%) or less of the value thereof on
the date immediately prior to the Change of Control, or the Participant’s
scope of work responsibility as an employee of the Company or one of its
Subsidiaries is materially reduced from that existing on the date
immediately prior to the Change of Control, or the Participant as an
employee of the Company or one of its Subsidiaries is requested to relocate
more than 25 miles from his place of Service with the Company on the date
immediately prior to the Change of Control, in each case, on or after a
Change of Control;

     (iii) a Change of Control if the Participant is then a Non-employee
Director; or

     (iv) the Participant’s termination of Service by reason of Disability
or death.

     (d) For purposes of this Agreement:

     (i) “Change of Control” means:

     (A) any Person is or becomes the “beneficial owner” (as defined in Rule
13d-3 under the Exchange Act and the rules and regulations promulgated
thereunder), directly or indirectly, of securities of the Company
representing 20% or more of the combined voting power of the Company’s
outstanding Voting Securities, other than through the purchase of Voting
Securities directly from the Company through a private placement; or

     (B) individuals who constitute the Board on the date hereof (the
“Incumbent Board”) cease for any reason to constitute at least a majority
thereof, provided that any person becoming a Director subsequent to the date
hereof whose election, or nomination for election by the Company’s
shareholders, was approved by a vote of at least two-thirds of the Directors
comprising the Incumbent Board shall from and after such election be deemed
to be a member of the Incumbent Board; or

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     (C) the Company is merged or consolidated with another corporation or
entity, and as a result of such merger or consolidation less than 60% of the
outstanding Voting Securities of the surviving or resulting corporation or
entity shall then be owned by the former shareholders of the Company; or

     (D) the consummation of a (i) tender offer or (ii) exchange offer by a
Person other than the Company for the ownership of 20% or more of the Voting
Securities of the Company then outstanding; or

     (E) all or substantially all of the assets of the Company are sold or
transferred to a Person as to which:

     (1) the Incumbent Board does not have authority (whether by law
or contract) to directly control the use or further disposition of
such assets; and

     (2) the financial results of the Company and such Person are not
consolidated for financial reporting purposes.

     (F) Anything else in this definition to the contrary notwithstanding:

     (1) no Change of Control shall be deemed to have occurred by
virtue of any transaction which results in the Participant, or a
group of Persons which includes the Participant, acquiring more than
20% of either the combined voting power of the Company’s outstanding
Voting Securities or the Voting Securities of any other corporation
or entity which acquires all or substantially all of the assets of
the Company, whether by way of merger, consolidation, sale of such
assets or otherwise; and

     (2) no Change of Control shall be deemed to have occurred unless
such event constitutes an event specified in Code Section
409A(2)(A)(v) and the Treasury regulations promulgated thereunder.

     (ii) “Disability” means the Participant is unable to engage in any
substantial gainful activity by reason of any medically determinable
physical or mental impairment which can be expected to result in death or
can be expected to last for a continuous period of not less than 12 months.
The Participant’s inability and its anticipated duration shall be determined
solely by a medical physician of the Participant’s choice to be approved by
the Company, which approval shall not be unreasonably withheld.

     (iii) “Exchange Act” means the Securities Exchange Act of 1934, as
amended from time to time.

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     (iv) “Service” means (a) employment with the Company or any of its
Subsidiaries and (b) service as a nonemployee member of the board of
directors of the Company (“Nonemployee Director”).

     (v) “Person” means, any individual, corporation, partnership, “group”
(as such term is used in Rule 13d-5 under the Exchange Act), association or
other “person,” as such term is used in Sections 13(d) and 14(d) of the
Exchange Act, and the related rules and regulations promulgated thereunder.

     (vi) “Retirement Age” means the earlier to occur of:

     (A) age 65 or more, or

     (B) age 60 or more with at least 15 years of continuous Service,

provided that the Participant has remained in Service until the earlier to occur of
(A) or (B).

     (vii) “Voting Securities” means, with respect to any corporation or
other business enterprise, those securities, which under ordinary
circumstances are entitled to vote for the election of directors or others
charged with comparable duties under applicable law.

     3. Forfeiture of 2011 Performance Award. If the Participant’s Service terminates under any
circumstances (except those provided in Paragraph 2 of this Agreement or in any other written
agreement between the Participant and the Company which provides for vesting of Performance Units
granted hereby), all unvested Performance Units as of the termination date shall be forfeited.

     4. Determination of Final Value of Performance Units. The Committee shall, as soon as
practicable after the close of the 2011-2013 Performance Period, determine the final value of each
Performance Unit granted hereunder in accordance with the 2011 Performance Award: Goals and
Measures (a copy of which has been furnished to the Participant). Such final value may range from
$0 to $150.

     5. Settlement and Payment. Settlement of all 2011 Performance Awards will be made by payment in cash.

     (a) February 25, 2014; Attainment of Retirement Age, Termination After Disability or
Death. Payment of vested 2011 Performance Awards that vest by reason of Subparagraphs 2(a),
(b) or (c)(iii) of this Agreement shall be made as soon as administratively practicable
after the close of the 2011-2013 Performance Period. In no event shall such payment be made
later than the 15th day of the third calendar month of the year following the year in which
the third anniversary of the Award Date occurs. Any payment made pursuant to this
Subparagraph 5(a) will be made based on the actual attainment of the Performance Goals.

     (b) Change of Control. Payment of vested 2011 Performance Awards that vest by reason
of Subparagraph 2(a) after a Change of Control has occurred shall be made as soon as
administratively practicable after the close of the 2011-2013

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Performance Period. Payment of vested Performance Awards that vest; (i) in accordance
with Subparagraph 2(b) to a Participant who has attained Retirement Age at any time and who
then terminates Service after a Change of Control; (ii) upon termination as contemplated by
Subparagraph 2(c)(i) or Subparagraph 2(c)(ii) of this Agreement; (iii) upon a Change of
Control if Subparagraph 2(c)(iii) of this Agreement is applicable; or (iv) upon termination
as described in Subparagraph 2(c)(iv) after a Change of Control, shall be made as soon as
administratively practicable after termination occurs, provided that in the case of a
specified employee who vests in accordance with clause (i) such payment shall be paid six
months after termination. Payment of vested Performance Awards that vest (i) in accordance
with Subparagraph 2(b) to a Participant who had attained Retirement Age at any time and who
then terminated Service prior to a Change of Control, or (ii) upon termination as described
in Subparagraph 2(c)(iv) prior to a Change of Control, shall be made as soon
administratively practicable after a Change of Control occurs. Any payment made pursuant to
this Subparagraph 5(b) will be made as if each Performance Goal had been satisfied at the
Target level, with no reduction for such payment date occurring prior to the close of the
2011-2013 Performance Period.

     6. Notices. Unless the Company notifies the Participant in writing of a different procedure,
any notice or other communication to the Company with respect to this Agreement or the Plan shall
be in writing addressed to the Corporate Secretary of the Company and shall be: (a) by registered
or certified United States mail, postage prepaid, to 11911 FM 529, Houston, Texas 77041-3011; or
(b) by hand delivery or otherwise to 11911 FM 529, Houston, Texas 77041-3011. Any such notice
shall be deemed effectively delivered or given upon receipt.

          Notwithstanding the foregoing, in the event that the address of the Company’s principal
executive offices is changed prior to the date of any settlement of this 2011 Performance Award,
notices shall instead be made pursuant to the foregoing provisions at the then current address of
the Company’s principal executive offices.

          Any notice or other communication to the Participant with respect to this Agreement or the
Plan shall be given in writing and shall be deemed effectively delivered or given upon receipt or,
in the case of notices mailed by the Company to the Participant, five days after deposit in the
United States mail, postage prepaid, addressed to the Participant at the address specified at the
end of this Agreement or at such other address as the Participant hereafter designates by written
notice to the Company.

     7. Assignment of 2011 Performance Award. Except as otherwise permitted by the Committee and
as provided in the immediately following paragraph, the Participant’s rights under the Plan and
this Agreement are personal, and no assignment or transfer of the Participant’s rights under and
interest in this 2011 Performance Award may be made by the Participant other than by a domestic
relations order. This 2011 Performance Award is payable during his lifetime only to the
Participant, or in the case of the Participant being mentally incapacitated, this 2011 Performance
Award shall be payable to his guardian or legal representative.

          The Participant may designate a beneficiary or beneficiaries (the “Beneficiary”) to whom the
2011 Performance Award under this Agreement, if any, will pass upon the Participant’s death and may
change such designation from time to time by filing with the Company a written designation of
Beneficiary on the form attached hereto as Exhibit A, or such other form as may be prescribed by
the Committee; provided that no such designation shall be

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effective unless so filed prior to the death of the Participant and no such designation shall
be effective as of a date prior to receipt by the Company. The Participant may change his
Beneficiary without the consent of any prior Beneficiary by filing a new designation with the
Company. The last such designation that the Company receives in accordance with the foregoing
provisions will be controlling. Following the Participant’s death, the 2011 Performance Award, if
any, will pass to the designated Beneficiary and such person will be deemed the Participant for
purposes of any applicable provisions of this Agreement. If no such designation is made or if the
designated Beneficiary does not survive the Participant’s death, the 2011 Performance Award shall
pass by will or, if none, then by the laws of descent and distribution.

     8. Withholding. The Company’s obligations under this Agreement shall be subject to the
satisfaction of all applicable withholding requirements including those related to federal, state
and local income and Service taxes (the “Required Withholding”). The Company may withhold an
appropriate amount of cash necessary to satisfy the Participant’s Required Withholding, and deliver
the remaining amount of cash to the Participant, unless the Participant has made arrangements with
the consent of the Company for the Participant to deliver to the Company cash, check, other
available funds or shares of previously owned Common Stock for the full amount of the Required
Withholding by 5:00 p.m. Central Standard Time on the date an amount is included in the income of
the Participant. The amount of the Required Withholding and the number of shares to satisfy the
Participant’s Required Withholding shall be based on the Fair Market Value of the shares on the
date prior to the applicable date of income inclusion.

     9. Successors and Assigns. This Agreement shall bind and inure to the benefit of and be
enforceable by the Participant, the Company and their respective permitted successors and assigns
(including personal representatives, heirs and legatees), except that the Participant may not
assign any rights or obligations under this Agreement except to the extent and in the manner
expressly permitted in Paragraph 7 of this Agreement.

     10. No Service Guaranteed. No provision of this Agreement shall confer any right upon the
Participant to continued Service with the Company or any Subsidiary.

     11. Code Section 409A Compliance. If any provision of this Agreement would result in the
imposition of an additional tax under Code Section 409A and related regulations and Treasury
pronouncements (“Section 409A”), that provision will be reformed to avoid imposition of the
additional tax, including that any Award subject to Section 409A held by a specified employee that
is settled by reason of termination of employment (other than death) shall be delayed in payment
until the expiration of six months, and no action taken to comply with Section 409A shall be deemed
to adversely affect the Participant’s rights to an Award. This Award is intended to comply with or
be exempt from Section 409A, and ambiguous provisions hereof, if any, shall be construed and
interpreted consistent with such intent.

     12. Participant Limit. The 2011 Performance Award made hereunder shall not be in an amount
greater than $10,000,000 for any Participant.

     13. Governing Law. This Agreement shall be governed by, construed, and enforced in accordance
with the laws of the State of Texas, excluding any choice of law provision thereof that would
result in the application of the laws of any other jurisdiction.

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     14. Amendment. Except as set forth herein, this Agreement cannot be modified, altered or
amended except by an agreement, in writing, signed by both the Company and the Participant.

	 	 	 	 	 
	 	OCEANEERING INTERNATIONAL, INC.

 	 
	Award Date: May 6, 2011	By:  	 	 
	 	 	George R. Haubenreich, Jr. 	 
	 	 	Senior Vice President, General Counsel
and Secretary 	 
	 

          The Participant hereby accepts the foregoing Supplemental 2011 Performance Unit Agreement, subject to the
terms and provisions of the Plan and administrative interpretations thereof referred to above.

	 	 	 	 	 
	

Date:                                         
	PARTICIPANT:

________________________________________

Participant’s Address:

________________________________________

________________________________________

________________________________________

 	 
	 	
 	 
	 	 	 
	 	 	 

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Exhibit A to Supplemental 2011 Performance Unit

Agreement

Designation of Beneficiary

          I, __________________________ (“Participant”), hereby declare that upon my death,
______________________ (the “Beneficiary”) of ___________________________________________________ (address), who is my
________________________ (relationship), will be entitled to the 2011 Performance Award which may
become payable under the Plan and all other rights accorded the Participant under the Participant’s
2011 Supplemental Performance Unit Agreement (capitalized terms used but not defined herein have the respective
meanings assigned to them in such agreement).

          It is understood that this designation of Beneficiary is made pursuant to the Agreement and is
subject to the conditions stated therein, including the Beneficiary’s survival of Participant. If
any such condition is not satisfied, such rights shall devolve according to the Participant’s last
will and testament, or if none, then the laws of descent and distribution.

          It is further understood that all prior designations of beneficiary under the Agreement are
hereby revoked upon the filing of this designation with the Company. This designation of
Beneficiary may only be revoked in writing, signed by the Participant, and filed with the Corporate
Secretary of the Company prior to the Participant’s death.

	 	 	 	 	 
	 	________________________________________

Participant

________________________________________

Date

 	 
	 	 	 
	 	 	 
	 	 	 
	 

Page 8 of 8exv10w3

Exhibit 10.3

2011 PERFORMANCE AWARD: GOALS AND MEASURES

ARTICLE 1

ESTABLISHMENT AND PURPOSE

     1.1 Establishment of the 2011-2013 Performance Goals. Oceaneering International, Inc. (the
“Company”), has previously established the 2010 Incentive Plan of Oceaneering International, Inc.
(the “Plan”). The Plan permits the establishment of Performance Goals and the award of Performance
Awards to Participants. The Committee has established Performance Goals (as detailed herein) for
the first performance period under the Plan which shall run from January 1, 2011 through December
31, 2013 (the “2011-2013 Performance Period”). This 2011-2013 Performance Period is subject to all
the provisions of the Plan.

     1.2 Establishment of 2011-2013 Performance Goal Targets. The 2011-2013 Performance Goal
targets are as follows:

	 	 	 	 	 

	ROIC/Kc:

	 	125%	 
	 
	 	 	 	 
	Cumulative Three Year Cash Flow:

	 	$1.38 Billion

     1.3 Purpose. The establishment of Performance Goals for the 2011-2013 Performance Period is to
provide Participants with a long-term incentive opportunity in respect of the 2011-2013 Performance
Period. Performance Awards granted in 2011 (the “2011 Performance Awards”) are subject to the
attainment of these Performance Goals.

ARTICLE 2

DEFINITIONS

     2.1 Definitions. Whenever used in this document, capitalized terms shall have the meanings
assigned in the Plan, unless defined otherwise or specifically provided herein. The following
terms shall have the meanings set forth below:

     (a) “Average Cost of Capital” means the average (the arithmetic mean) of the Cost of
Capital for each of the three calendar years within the 2011-2013 Performance Period.

     (b) “Average Invested Capital” means the sum of Average Total Debt and Average
Shareholders’ Equity for each of the three calendar years within the 2011-2013 Performance
Period.

     (c) “Average Return on Invested Capital” or “ROIC” means a percentage derived by
dividing (i) the cumulative NOPAT (the sum of NOPAT for each of the three calendar years
within the 2011-2013 Performance Period) by (ii) Average Invested Capital.

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     (d) “Average Total Debt” means (i) the sum of the Total Debt as of the end of the prior
year and the Total Debt as of the end of the current year (ii) divided by two. For example,
the Average Total Debt for calendar year 2011 will be the Total Debt as of December 31,
2010, plus the Total Debt as of December 31, 2011, divided by two.

     (e) “Average Shareholders’ Equity” means (i) the sum of Shareholders’ Equity as of the
end of the prior year and Shareholders’ Equity as of the end of the current year (ii)
divided by two.

     (f) “Cost of Capital” or “Kc” means a percentage determined by dividing (i) the sum of
the Cost of Debt and the Cost of Equity for each of the three calendar years within the
2011-2013 Performance Period by (ii) the sum of Average Total Debt and Average Shareholders’
Equity for each of the three calendar years within the 2011-2013 Performance Period. All
components of Cost of Capital shall be obtained directly from the audited financial
statements of the Company for the applicable year.

     (g) “Cost of Debt” means the product of annual Interest Expense and 65% (100% less a
deemed income tax rate of 35%).

     (h) “Cost of Equity” means the product of Average Shareholders’ Equity and 8.8%, which
is the sum of the 3.3% yield on the 10-year Treasury Notes as of December 31, 2010, as
published by the U.S. Federal Reserve, plus an equity return premium of 5.5%.

     (i) “Cumulative Three Year Cash Flow” means the sum of the earnings before interest,
taxes, depreciation and amortization (“EBITDA”) amounts for each of the three calendar years
in the 2011-2013 Performance Period. EBITDA shall be calculated as Net Income (Loss) plus
(or Minus) Net Interest Expense (Income), plus provisions for income taxes (or minus benefit
from income taxes), plus depreciation and amortization. Each component of EBITDA shall be
obtained directly from the audited financials statements of the Company for the applicable
year.

     (j) “Income Before Income Taxes” means income before income taxes as reflected in the
audited financial statements of the Company for the applicable calendar year.

     (k) “Interest Expense” means interest expense, net of amounts capitalized, as reflected
in the audited financial statements of the Company for the applicable calendar year.

     (l) “Interest Income” means interest income as reflected in the audited financial
statements of the Company for the applicable calendar year.

     (m) “Net Income (Loss)” means net income (loss) as reflected in the audited financial
statements of the Company for the applicable calendar year.

     (n) “Net Interest Expense (Income)” means the difference between (i) Interest Expense
and (ii) Interest Income for the applicable calendar year.

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     (o) “Net Operating Profit After Taxes” or “NOPAT” means Net Income (Loss) plus (or
minus) the product of (i) Net Interest Expense (Income) and (ii) 100% minus the effective
income tax rate for the applicable year. The effective income tax rate will be determined
by dividing the annual income tax provision (or benefit) by Income Before Income Taxes. All
components of NOPAT shall be obtained directly from the audited financial statements of the
Company for the applicable calendar year.

     (p) “Performance Unit” means the unit of measure underlying a Performance Award, with
an initial notional value of $100.

     (q) “ROIC/Kc” means a percentage derived by dividing (i) Average Return on Invested
Capital for the 2011-2013 Performance Period by (ii) Average Cost of Capital for the
2011-2013 Performance Period. A percentage greater than 100% indicates the Company earned a
rate of return on its Average Invested Capital in excess of its Average Cost of Capital.

     (r) “Shareholders’ Equity” means the shareholders’ equity as reflected in the audited
financial statements of the Company for the applicable year.

     (s) “Total Debt” means the difference between (i) the sum of the debt components (in
both current and long-term liabilities), as reflected in the audited financial statements of
the Company for the applicable calendar year, and (ii) construction-in-progress as disclosed
in the footnotes to the audited financial statements of the Company to the extent such
amount is greater than $20,000,000.

ARTICLE 3

AWARD DETERMINATION

     3.1 Award Opportunities. The Committee has determined the Participants for the 2011-2013
Performance Period and each Participant’s 2011 Performance Award; such Participants and their
individual Performance Awards are reflected in the Committee records. A Participant’s 2011
Performance Award is keyed to the Company’s performance with respect to the 2011-2013 Performance
Goals, and may result in a payment to the Participant having a value from zero percent to one
hundred fifty percent of the initial notional value of the 2011 Performance Award.

     3.2 Performance Award Determination. As soon as is practicable after the close of the
2011-2013 Performance Period, the Committee shall calculate the value of 2011 Performance Awards
for each Participant as follows:

     (a) Determine ROIC/Kc for the 2011-2013 Performance Period.

     (b) Determine the Cumulative Three Year Cash Flow for the 2011-2013 Performance Period.

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     (c) Determine the ROIC/Kc Performance Goal level based on the following:

	 	 	 	 	 

	Threshold Level:
	 	 	100	%
	 
	 	 	 	 
	Target Level:
	 	 	125	%
	 
	 	 	 	 
	Maximum Level:
	 	 	150	%

     (d) Determine the Cumulative Three Year Cash Flow Performance Goal level based on the
following:

	 	 	 	 	 
	Threshold Level:
	 	$1.20 Billion
	 
	 	 	 	 
	Target Level:
	 	$1.38 Billion
	 
	 	 	 	 
	Maximum Level:
	 	$1.60 Billion

     (e) If the Company does not reach the Threshold level on both the ROIC/Kc and the
Cumulative Three Year Cash Flow Performance Goal, no amounts will be paid with respect to
the 2011 Performance Awards. If the Company reaches the Threshold level on at least one
Performance Goal, an amount will be payable with respect to the 2011 Performance Awards.

     (f) The 2011 Performance Award for any Participant shall not be in an amount greater
than $10,000,000.

     (g) Satisfaction of each Performance Goal at the Target level will result in a final
value of each Performance Unit of $100. The determination of the final value of each
Performance Unit shall be based on application of the following grid (with interpolation
between the specified levels):

UNIT VALUES

Cumulative

Three Year Cash Flow

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Below	 	 	 	 	 	 
	 	 	Threshold	 	Threshold	 	Target	 	Maximum
	Maximum
	 	$	75.00	 	 	$	112.50	 	 	$	125.00	 	 	$	150.00	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Target
	 	$	50.00	 	 	$	87.50	 	 	$	100.00	 	 	$	125.00	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Threshold
	 	$	37.50	 	 	$	75.00	 	 	$	87.50	 	 	$	112.50	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Below Threshold
	 	$	0.00	 	 	$	37.50	 	 	$	50.00	 	 	$	75.00	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

ROIC/Kc

     (h) The Committee shall certify the determination of the final value of each
Performance Unit. If such value exceeds $100, the Committee retains the discretion to
reduce such value to any amount above or equal to $100.

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ARTICLE 4

PAYMENT OF 2011 PERFORMANCE AWARDS

     4.1 Determination of Amount. 2011 Performance Awards will be determined as soon as
practicable after (a) the Company’s financial statements for each of the three calendar years in
the 2011-2013 Performance Period have been certified, (b) the Committee has certified in writing
that the various Performance Goals and conditions set forth herein and in the Plan have all been
met or satisfied, and (c) the Committee has specifically authorized in writing the payment of any
2011 Performance Awards based on attainment of either Performance Goal at a level greater than
Target.

     4.2 Vesting. The 2011 Performance Awards will vest as set forth in the Participant’s
Performance Unit Agreement.

     4.3 Form of Payment. Each 2011 Performance Award will be paid in cash.

     4.4 Time of Payment. 2011 Performance Awards shall be paid as set forth in the Participant’s
Performance Unit Agreement.

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