Document:

exv10w1

Exhibit 10.1

MANAGEMENT PERFORMANCE SHARE AGREEMENT

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

     1. Standard Performance Terms.

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

     (b) The Performance Period for your Performance Shares will begin on [date], [year] and end
on the December 31 immediately preceding the third anniversary of the beginning of the Performance
Period. After the conclusion of the Performance Period, the Committee shall certify in writing the
number of Performance Shares payable in accordance with this Section 1 (your “Final Performance
Shares”), and your Final Performance Shares will be due and payable in Shares at the time specified
in Section 8.

     (c) If the Committee determines in writing that the Company met one or more of the Section
162(m) Goals, then you will be eligible for a payment of up to 200% of your Performance Shares.
The “Section 162(m) Goals” shall be the following:

     (1) Positive Company income from continuing operations before provision for income
tax, excluding total net investment gains (losses) (defined in accordance with Section 3(a)
of Article 7.04 of SEC Regulation S-X), as defined on the Company Statement of Income for
2009 (“Adjusted Income”), for the Performance Period.

     (2) Positive Adjusted Income for the third calendar year of the Performance Period.

     (3) Positive Company Proportionate Total Shareholder Return for the Performance
Period, as defined for the Company in Section 1(d)(2).

     (4) Positive Company Proportionate Total Shareholder Return for the third calendar
year of the Performance Period, as defined for the Company in Section 1(d)(2) with respect
to the third calendar year of the Performance Period.

 

 

     (d) If, under Section 1(c), you are eligible for a payment, the Committee will determine your
Final Performance Shares by multiplying your Performance Shares by the “Performance Factor.” The
Performance Factor means a percentage (from zero to 200%) which is the sum of two other percentages
(each from zero to 100%), described in (1) and (2) below, multiplied by the factor determined by
(3) below, if applicable.

     (1) The first percentage will be based on the Company’s average percentile performance
with respect to Change in Annual Net Operating Income Available to Common Shareholders Per
Share during the Performance Period relative to the other companies in the Index, determined
in the following manner:

     (a) First, the Net Operating Income Available to Common Shareholders Per Share
will be determined for the Company and for each of the other companies in the Index,
for each calendar year of the Performance Period and the calendar immediately
preceding the first calendar year of the Performance Period. For this purpose, “Net
Operating Income Available to Common Shareholders Per Share” for each calendar year
will have the meaning of that term, or its substantial equivalent, defined in or
derived from the Company’s quarterly financial supplement for the fourth quarter of
the prior year filed with or furnished to the United States Securities and Exchange
Commission.

     (b) Second, the Change in Annual Net Operating Income Available to Common
Shareholders Per Share will be determined for the Company and for each of the other
companies in the Index for each calendar year of the Performance Period. For this
purpose, “Change in Annual Net Operating Income Available to Common Shareholders Per
Share” means Net Operating Income Available to Common Shareholders Per Share for each
calendar year of the Performance Period divided by Net Operating Income Available to
Common Shareholders Per Share in the immediately preceding calendar year.

     (c) Third, the Company’s Change in Annual Net Operating Income Available to
Common Shareholders Per Share for each calendar year of the Performance Period will
be compared to the Change in Annual Net Operating Income Available to Common
Shareholders Per Share for each of the other companies in the Index for the same
calendar year to determine the percentage of the other companies in the
Index whose performance was less than that of the Company, rounded down to the
nearest whole number percentile appearing on the left-hand column of Table 1 of
Schedule A to this Agreement (Company performance greater than every other company in
the Index

2

 

being deemed to be performance in the ninety-ninth percentile), producing the
Company’s percentile performance relative to the other companies in the Index.

     (d) Fourth, a percentage for each calendar year of the Performance Period will
be determined using the percentile determined under Section 1(d)(1)(c) and the
corresponding percentage on the right-hand column of Table 1 of Schedule A to this
Agreement.

     (e) Finally, the three percentages referenced in Section (1)(d)(1)(d) will be
averaged.

     (2) The second percentage will be based on the Company’s performance with respect to
Proportionate Total Shareholder Return during the Performance Period as a percentage of that
of the Index, determined according to Table 2 of Schedule A to this Agreement, determined in
the following manner:

     (a) First, the Initial Closing Price of the Company and the Index will each be
determined. For this purpose, “Initial Closing Price” means, in the case of the
Company the average Closing Price, and in the case of the Index the value of the
Index, in each case for the twenty (20) trading days prior to the first day of the
Performance Period.

     (b) Second, the Final Closing Price of the Company and the Index will each be
determined. For this purpose, “Final Closing Price” means, in the case of the
Company the average Closing Price, and in the case of the Index the value of the
Index, in each case for the twenty (20) trading days prior to and including the final
day of the Performance Period.

     (c) Third, the Total Shareholder Return of the Company and the Index will each
be determined, and expressed as a percentage. For this purpose, “Total Shareholder
Return” means the change (plus or minus) from the Initial Closing Price to the Final
Closing Price, plus (in the case of the Company) dividends (if any) actually paid on
Shares on a reinvested basis from the first day of the Performance Period to and
including the last day of the Performance Period.

     (d) Fourth, the Proportionate Total Shareholder Return of the Company and the
Index will each be determined. For this purpose, “Proportionate Total Shareholder
Return” means Total Shareholder Return divided by Initial Closing Price.

     (e) Fifth, the Proportionate Total Shareholder Return of the Index will be
subtracted from the Company’s Proportionate Total Shareholder Return, and the result
rounded up or down to the nearest percentage appearing on the left-hand column of
Table 2 of Schedule A to this Agreement (any result precisely halfway between two
percentages being rounded up to the next highest percentage).

     (f) Finally, a percentage will be determined using the result produced under
Section 1(d)(2)(e) and the corresponding percentage on the right-hand column of Table
2 of Schedule A to this Agreement.

3

 

     (3) If the Total Shareholder Return of the Company, as determined under Section
(1)(d)(2)(c), is zero percent or less, then the sum of the percentages described under
Sections (1)(d)(1) and (1)(d)(2) will be multiplied by a factor of seventy-five hundredths
(0.75) and rounded up or down to the nearest whole percentage (any result precisely halfway
between two percentages being rounded up to the next highest percentage) to determine the
Performance Factor.

     (e) For purposes of Section 1(d)(1), the companies in the Index refers to each company, other
than the Company, that:

     (1) does not adopt International Financial Reporting Standards with respect to a
reporting period earlier than the reporting period with respect to which the Company does
so,

     (2) has publicly reported its earnings in conformity with accounting principles
generally accepted in the United States of America for each of the two calendar years being
compared under Section 1(d)(1)(b); and

     (3) is included in the Standard & Poor’s Insurance Index derived from Fortune 500
companies for the entirety of the second of the two calendar years being compared under
Section 1(d)(1)(b).

     (f) For purposes of Section 1(d)(2), the Index refers to the Standard & Poor’s Insurance
Index derived from Fortune 500 companies, including any weighting of the stock of the companies
included in that index that is applied by Standard & Poor’s, from time to time.

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

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

     (b) Death. In the event that your employment with the Company or an Affiliate
terminates due to your death, your Performance Shares will be due and payable in Shares (or cash at
a value equal to the Closing Price on the date of your death, if so determined by the Committee).
Any payment will be made at the time specified in Section 8.

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

     (d) Bridge Eligibility. If your employment with the Company or an Affiliate
terminates (other than for Cause) with bridge eligibility for retirement-related medical benefits
(determined under an

4

 

ERISA qualified benefit plan offered by the Company or an Affiliate in which you participate,
if any) (“Bridge Eligibility”), and your separation agreement (offered to you under the severance
program offered by the Company or an Affiliate to its Employees) becomes final, the Standard
Performance Terms will continue to apply to your Performance Shares.

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

     (f) Other Termination of Employment. Unless the Committee determines otherwise, if
no other provision in this Section 2 regarding change of status applies, including, for example,
your voluntary termination of employment, your termination without Retirement or Bridge
Eligibility, or your termination by the Company or an Affiliate without Cause, your Performance
Shares will be forfeited immediately unless you are offered a separation agreement by the Company
or an Affiliate under a severance program. To the extent your separation agreement becomes final,
your Prorated Performance Shares will be due and payable to you. Any payment will be made at the
time specified in Section 8. The number of your “Prorated Performance Shares” will be determined
by dividing the number of calendar months in the Performance Period that have ended as of the end
of the month of the termination of your employment by thirty-six (36), multiplying the result by
the number of your Performance Shares, and rounding to the nearest whole number, and, if you were
an Insider or an “executive officer” of the Company under the Securities Exchange Act of 1934, as
amended, and the rules promulgated thereunder, at any time during the Performance Period, further
multiplying the result by the lesser of 100% or the Performance Factor; provided, however,
that if the date of the termination of your employment is prior to the first anniversary of the
beginning of the Performance Period, then the number of your Prorated Performance Shares shall be
zero (0). Payment for each of your Prorated Performance Shares will be made in cash at a value
equal to the Closing Price on the Grant Date, and shall be rounded to the nearest one-hundred
dollars ($100.00); provided, however, that if you were an Insider or an “executive officer”
of the Company under the Securities Exchange Act of 1934, as amended, and the rules promulgated
thereunder, at any time during the Performance Period, payment for each of your Prorated
Performance Shares will be made in cash at a value equal to the lesser of the Closing Price on the
Grant Date or the Closing Price on the date the Committee determines the Performance Factor, and
shall be rounded to the nearest one-hundred dollars ($100.00). If your separation agreement does
not become final, your Performance Shares will be forfeited.

     3. Change of Control.

     (a) Except as provided in Section 3(b), and unless otherwise prohibited under law or by
applicable rules of a national security exchange, if a Change of Control occurs, your Performance
Shares will be due and payable in the form of cash equal to the number of your Performance Shares
multiplied by the Change of Control Price. Any payment will be made at the time specified in
Section 8.

     (b) The terms of Section 3(a) will not apply to your Performance Shares if the Committee
reasonably determines in good faith, prior to the Change of Control, that you have been granted an
Alternative Award for your Performance Shares pursuant to Section 15.2 of the Plan. Any such
Alternative Award shall not accelerate the timing of payment or otherwise violate Code Section
409A.

     4. Nontransferability of Awards. Except as provided in Section 5 or as otherwise
permitted by the Committee, you may not sell, transfer, pledge, assign or otherwise alienate or
hypothecate any

5

 

of your Performance Shares, and all rights with respect to your Performance Shares are
exercisable during your lifetime only by you.

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

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

     7. Adjustments. The Committee will make appropriate adjustments in the terms and
conditions of your Performance Shares in recognition of unusual or nonrecurring events affecting
the Company or its financial statements (such as a Common Stock dividend, Common Stock split,
recapitalization, payment of an extraordinary dividend, merger, consolidation, combination,
spin-off, distribution of assets to stockholders other than ordinary cash dividends, exchange of
shares, or other similar corporate change), or in recognition of changes to applicable laws,
regulations, or accounting principles, to prevent unintended dilution or enlargement of the
potential benefits of your Performance Shares. The Committee’s determinations in this regard will
be conclusive.

     8. Timing of Payment.

     (a) This Agreement is intended to comply with Code Section 409A and shall be interpreted
accordingly. If Shares are to be paid to you, you will receive evidence of ownership of those
Shares.

     (b) If payment is due and payable under Section 2(b), it will be made upon your death.

     (c) If payment is due and payable under Section 2(f), it will be made six (6) months after
the termination of your employment (or six (6) months after your “separation from service” under
Code Section 409A, if that is a different date); provided, however, that if you were an
Insider or an “executive officer” of the Company under the Securities Exchange Act of 1934, as
amended, and the rules promulgated thereunder, at any time during the Performance Period, payment
will be made in the calendar year after the end of the Performance Period but in no event earlier
than six (6) months after the termination of your employment (or six months after your “separation
from service” under Code Section 409A, if that is a different date).

     (d) If payment is due and payable under Section 3(a), and the Change of Control that causes
payment to be due and payable is a “change of control” as defined under Code Section 409A, such sum
shall be paid to you within thirty (30) days of the Change of Control. If payment is due and
payable under Section 3(a), and the Change of Control that causes payment to be due and payable is
not a “change of control” as defined under Code Section 409A, such sum shall be paid to you at the
time determined under Section 8(e).

     (e) If payment is due and payable under the Standard Performance Terms and you have chosen to
defer payment under an applicable deferred compensation plan offered by the Company or an
Affiliate, payment will be made at the time determined under that plan. If payment is due and
payable

6

 

under the Standard Performance Terms and you have not chosen to defer payment under an
applicable deferred compensation plan offered by the Company or an Affiliate, payment will be made
in the calendar year after the end of the Performance Period.

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

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

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

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

7

 

     13. Amendments. The Committee has the exclusive right to amend this Agreement as
long as the amendment does not adversely affect any of your previously-granted Awards in any
material way (without your written consent) and is otherwise consistent with the Plan. The Company
will give written notice to you (or, in the event of your death, to your beneficiary or estate) of
any amendment as promptly as practicable after its adoption.

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

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

	 	 	 	 	 	 	 
	METLIFE, INC.	 	EMPLOYEE	 	 
	 
	 	 	 	 	 	 
	By:

	 	C. Robert Henrikson
	 	[name]	 	 
	 

	 	Name	 	 	 	 
	 
	 

	 	Chairman of the Board,	 	 	 	 
	 

	 	President, and Chief Executive Officer	 	 	 	 
	 

	 	Title	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 
	 	 	 	 
	 

	 	Signature
	 	Signature	 	 
	 

	 	 	 	Date:           
                 
              	 	 

8

 

Schedule A

to Management Performance Share Agreement

	 	 	 	 	 	 	 
	Table 1	 	Table 2
	Company Change in Annual	 	 	 	 	 	 
	Net Operating Income	 	First Percentage (Averaged	 	Index Proportionate Total	 	 
	Available to Common	 	For Each Year of	 	Shareholder Return	 	 
	Shareholders Percentile	 	Performance Period) For	 	subtracted from Company	 	Second Percentage For
	Relative to Other Companies	 	Purposes of Determining	 	Proportionate Total	 	Purposes of Determining
	in the Index	 	Performance Factor*	 	Shareholder Return	 	Performance Factor*
	0-24
	 	0
	 	-26.0% or less
	 	0
	25
	 	25
	 	-25.0%
	 	25
	26
	 	26
	 	-24.0%
	 	26
	27
	 	27
	 	-23.0%
	 	27
	28
	 	28
	 	-22.0%
	 	28
	29
	 	29
	 	-21.0%
	 	29
	30
	 	30
	 	-20.0%
	 	30
	31
	 	31
	 	-19.0%
	 	31
	32
	 	32
	 	-18.0%
	 	32
	33
	 	33
	 	-17.0%
	 	33
	34
	 	34
	 	-16.0%
	 	34
	35
	 	35
	 	-15.0%
	 	35
	36
	 	36
	 	-14.0%
	 	36
	37
	 	37
	 	-13.0%
	 	37
	38
	 	38
	 	-12.0%
	 	38
	39
	 	39
	 	-11.0%
	 	39
	40
	 	40
	 	-10.0%
	 	40
	41
	 	41
	 	-9.0%
	 	41
	42
	 	42
	 	-8.0%
	 	42
	43
	 	43
	 	-7.0%
	 	43
	44
	 	44
	 	-6.0%
	 	44
	45
	 	45
	 	-5.0%
	 	45
	46
	 	46
	 	-4.0%
	 	46
	47
	 	47
	 	-3.0%
	 	47
	48
	 	48
	 	-2.0%
	 	48
	49
	 	49
	 	-1.0%
	 	49
	50
	 	50
	 	0.0%
	 	50
	51
	 	52
	 	1.2%
	 	52
	52
	 	54
	 	2.4%
	 	54
	53
	 	56
	 	3.6%
	 	56
	54
	 	58
	 	4.8%
	 	58
	55
	 	60
	 	6.0%
	 	60
	56
	 	62
	 	7.2%
	 	62
	57
	 	64
	 	8.4%
	 	64
	58
	 	66
	 	9.6%
	 	66
	59
	 	68
	 	10.8%
	 	68
	60
	 	70
	 	12.0%
	 	70
	61
	 	72
	 	13.2%
	 	72
	62
	 	74
	 	14.4%
	 	74
	63
	 	76
	 	15.6%
	 	76
	64
	 	78
	 	16.8%
	 	78
	65
	 	80
	 	18.0%
	 	80
	66
	 	82
	 	19.2%
	 	82
	67
	 	84
	 	20.4%
	 	84
	68
	 	86
	 	21.6%
	 	86
	69
	 	88
	 	22.8%
	 	88
	70
	 	90
	 	24.0%
	 	90
	71
	 	92
	 	25.2%
	 	92
	72
	 	94
	 	26.4%
	 	94
	73
	 	96
	 	27.6%
	 	96
	74
	 	98
	 	28.8%
	 	98
	75-99
	 	100
	 	30.0% or greater
	 	100

 

			
	*	 	First percentage is determined for each calendar year of the Performance Period and
averaged, and added to second percentage. The total is multiplied by 0.75 if the Total
Shareholder Return of the Company is zero percent or less, and then multiplied by the number
of Performance Shares granted to determine the number of Final Performance Shares. See
Section 1 of this Agreement.exv10w1

EXHIBIT 10.1

 

 

Spherion Corporation

Corporate Executives

Management Variable Pay Plan

 

2010 Variable Pay Plan

 

 

For Plan Year: Fiscal 2010

					
	 	 	 	 	 
	2010 Corporate Executives
	 	-1 of 6-
	 	©Copyright2010,SpherionCorporation

 

 

Introduction

The following Variable Pay Plan (the “Plan”) is designed to reward Plan Eligible Associates for
achievement of specific goals as well as to provide an incentive to retain talent and encourage
future performance with Spherion. This Plan has been established to align your individual success
with that of Spherion.

Your dedication and commitment to the Company is greatly appreciated. Thank you for your continued
support now and in the future.

Effective Date/Plan Year

This Plan is in effect beginning December 28, 2009 through December 26, 2010 (the “Plan Year”).
This Plan supersedes any prior plans as of the date it becomes effective. This Plan may be
extended beyond the Plan Year at the sole discretion of Spherion.

Eligibility

Eligibility to participate in this Plan is within Spherion’s sole discretion, but in general is
based on an Associate’s position. For purposes of this Plan, the term Plan Eligible Associate
means an Associate who Spherion determines is eligible to participate in this Plan.

Eligibility begins on the first day of the accounting quarter after an Associate begins employment
as a Plan Eligible Associate and terminates immediately when an Associate’s employment as a Plan
Eligible Associate ends.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	Start/Transfer	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Date Must be on	 	 	 	 
	 	 	 	 	First Day	 	 	Last Day	 	 	or Before to be	 	 	Bonus Payment	 
	 	Quarter	 	 	of Quarter	 	 	of Quarter	 	 	Eligible	 	 	Date	 
	 	Q1, 2010
	 	 	12/28/09
	 	 	03/28/10
	 	 	12/27/09	 	 	 	 
	 	Q2, 2010
	 	 	03/29/10
	 	 	06/27/10
	 	 	03/28/10	 	 	 	 
	 	Q3, 2010
	 	 	06/28/10
	 	 	09/26/10
	 	 	06/27/10	 	 	 	 
	 	Q4, 2010
	 	 	09/27/10
	 	 	12/26/10
	 	 	09/26/10
	 	 	02/25/11	 
	 

A plan acknowledgement stating that a Plan Eligible Associate has received his/her plan document
and agrees to the terms and conditions contained within the plan document is a requirement to be
eligible to participate in this Plan.

Change of Positions/Leave of Absence/ Other types of Pro-rated Compensation

In order to be eligible for or earn any compensation under this Plan, a Plan Eligible Associate
must remain employed by Spherion in some capacity through the last date of the Variable Pay Period.
If the Plan Eligible Associate does not meet this condition, he/she will not earn any compensation
under this Plan (see the Variable Pay Period/Payment section below). If a Plan Eligible Associate
meets this condition, but was actively employed as a Plan Eligible Associate for only a part of the
Variable Pay Period, his/her compensation under this Plan will be pro-rated based on the number of
full weeks he/she was actively employed as a Plan Eligible Associate. Some examples include:

	 	1.	 	New Hire
	 
	 	2.	 	Leave of Absence — LOA
	 
	 	3.	 	Change in Work Classification Status (full-time vs. part-time)
	 
	 	4.	 	Position Changes resulting in Incentive Plan &/or Salary Changes
	 
	 	5.	 	P&L Roll Up Structure Changes (with no position change)

					
	 	 	 	 	 
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For a detailed explanation of the administrative policies on how these and other types of Personnel
Changes affect the Plan Eligible Associate’s compensation, please refer to the Pro-Ration
Guidelines.

Components

A Plan Eligible Associate has a Variable Pay Opportunity which is determined as a percentage (%) of
his/her base salary.

The Variable Pay Opportunity is made up of two components: (1) Adjusted Earnings per Share (EPS)
from Continuing Operations and (2) Individual & Operational Goal Measurement. The specifics of
these components are described in more detail below.

To the extent permitted by the law, Spherion shall have the right to withhold, deduct, and/or set
off any and all amounts for bad debts (including write-offs), re-bills, credits, or other
adjustments from the payment calculations.

	1.	 	Adjusted Earnings per Share (EPS) from Continuing Operations: 80% of the Variable Pay
Opportunity is based on the Company attaining adjusted EPS from continuing operations Target
for fiscal year 2010. In order for a Plan Eligible Associate to earn any compensation under
this adjusted EPS component, the Company must attain a minimum adjusted EPS threshold from
continuing operations as represented in the scale below. The adjusted EPS component will not
be earned if 2010 adjusted EPS from continuing operations is less than the threshold. If the
adjusted EPS threshold is reached, the component payout will be precisely interpolated between
Goal Levels as reflected in the chart below.
	 
	 	 	If Company adjusted EPS performance exceeds 125% payout for fiscal year 2010, management will
establish a payout scale above that level for incentive eligible associates based upon
performance and market conditions. The established payout scale will range between 126% and
200% of bonus opportunity for an eligible associate and will be communicated mid-year 2010.
	 
	 	 	The Executive Team’s 2010 annual incentive opportunity will be conditioned on certain
pre-established EPS levels as summarized below:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	Adjusted EPS	 	 	 	 	 	 	 	 	Memo: Adjusted	 	 	 	 
	 	 	 	 	from	 	 	 	 	 	 	 	 	EBITDA from	 	 	 	 
	 	Performance	 	 	Continuing	 	 	Payout as a	 	 	 	 	 	Continuing	 	 	Memo: EBITDA as a %	 
	 	Level	 	 	Operations	 	 	% of Target	 	 	 	 	 	Operations	 	 	of Plan	 
	 	Maximum
	 	 	(a)	 	 	200%	 	 	 	 	 	*	 	 	*	 
	 	Above Target
	 	 	(b)	 	 	125%	 	 	 	 	 	*	 	 	*	 
	 	Target
	 	 	(c)	 	 	100%	 	 	 	 	 	*	 	 	*	 
	 	Plan
	 	 	*	 	 	80%	 	 	 	 	 	*	 	 	*	 
	 	Threshold
	 	 	*	 	 	40%	 	 	 	 	 	*	 	 	*	 
	 	Below Threshold
	 	 	*	 	 	0%	 	 	 	 	 	*	 	 	*	 
	 

	*	 	Confidential terms omitted and provided separately to the Securities and Exchange Commission.

					
	 	 	 	 	 
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	(a)	 	EPS at Maximum computed as EBITDA of $* less actual GAAP interest, taxes, depreciation
and amortization divided by actual fully diluted shares outstanding.
	 
	(b)	 	EPS at Above Target computed as EBITDA of $* less actual GAAP interest, taxes,
depreciation and amortization divided by actual fully diluted shares outstanding
	 
	(c)	 	EPS at Target computed as EBITDA of $* less actual GAAP interest, taxes, depreciation
and amortization divided by actual fully diluted shares outstanding.
	 
	 	 	If the adjusted EPS threshold is attained, the payout will be precisely interpolated between
Performance Levels. 100% of any amount earned pursuant to the EPS performance may be
adjusted positively or negatively at the discretion of the Board of Directors after
considering the Company’s performance compared with its peer companies.
	 
	 	 	Note: Adjusted EPS from Continuing Operations will be adjusted to reflect the impact of any
acquisitions based on the development and finalization of the acquired company’s Board
approved business plan.

	2.	 	Individual & Operational Goal Measurement. 20% of the Variable Pay Opportunity is based on
the attainment of one or more categories of the Individual and Operational Goals. Each
Component will be weighted equally for achievement.
	 
	 	 	The three main categories of Individual and Operational goals are as follows:
	 
	 	 	a.                     *

b.                     *

c.                     *

Individual goals and performance measures are assigned to each operational goal. If the
assigned category goal is reached, the component payout will be precisely interpolated between
Goal Levels as reflected in the chart below:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Percentage of	 
	 	Goal Level	 	 	Operational Goal Measurement	 	 	Component	 
	 	 	 	 	*	 	 	*	 	 	*	 	 	 	 
	 	Achievement
	 	 	*
	 	 	*
	 	 	*
	 	 	200%	 
	 	Target
	 	 	*
	 	 	*
	 	 	*
	 	 	100%	 
	 	Threshold
	 	 	*
	 	 	*
	 	 	*
	 	 	50%	 
	 	Below Threshold
	 	 	*
	 	 	*
	 	 	*
	 	 	0%	 
	 

	*	 	Confidential terms omitted and provided separately to the Securities and Exchange Commission.

					
	 	 	 	 	 
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Variable Pay Period/ Payment

The “Variable Pay Period” is the Plan Year. Compensation under this Plan is based on annual
results and is therefore earned on an annual basis. A Plan Eligible Associate must be employed by
Spherion through the last date of the Variable Pay Period to be eligible for or earn any
compensation under this Plan (see Termination of Employment section below). Any compensation
earned under this Plan will be paid within 45 business days after the close of the accounting year.

Termination of Employment

Eligibility to participate in or receive any compensation under this Plan ceases immediately upon
termination of employment with Spherion regardless of whether such termination of employment is due
to resignation, termination without cause, termination for cause, or otherwise.

A Plan Eligible Associate, whose employment with Spherion terminates prior to the end of the
Variable Pay Period, will not be eligible for or be considered to have earned compensation under
this Plan in whole or in part.

In addition, any Plan Eligible Associate who resigns his/her employment or who is terminated for
cause after the end of the Variable Pay Period but before Spherion pays the actual compensation
awarded under this Plan will not be considered to have met the eligibility requirements of the
Plan. The final eligibility requirement of the Plan is for the otherwise eligible associate to
remain employed with the Spherion between the end of the Variable Pay Period and the payout date
unless the otherwise Plan Eligible Associate is terminated by Spherion without cause. If the
otherwise Plan Eligible Associate is terminated by Spherion without cause after the Variable Pay
Period but before Spherion pays the compensation, the Plan Eligible Associate will be considered to
have met the necessary requirements for compensation under this Plan.

The eligibility requirements described in this Plan are void to the extent that they conflict with
state or local law.

Bonus Cap

A Plan Eligible Associate may not earn more than 200% of the Plan Eligible Associate’s opportunity
for the Plan Year under this Plan.

Disputes; Conflicts

If there is a dispute related to this Plan, including, but not limited to, a dispute over
eligibility or award, it will be resolved by the Compensation Committee or its designee, whose
decision shall be final.

Notwithstanding the foregoing, or anything to the contrary in the Plan, in the event of any
conflict between the terms of this Plan, and the terms of the Plan Eligible Associate’s Executive
Employment Agreement with the Company, the terms of the Employment Agreement shall govern.

					
	 	 	 	 	 
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At-Will Employment

The only matter this Plan is intended to address is variable pay compensation. Nothing in this
Plan shall alter or be construed as to alter the at-will employment status of any Plan Eligible
Associate. The Plan Eligible Associate’s employment is at-will and may be terminated by either
party at any time, with or without cause.

Amendments, Exceptions or Termination of the Plan

The Compensation Committee or its designee will administer this Plan and have the power to
implement, operate, and interpret this Plan and to take such action as it deems equitable and
consistent with the purpose of this Plan in particular circumstances. No exception or modification
to this Plan will be valid unless it has been approved in writing by the Compensation Committee or
its designee.

The Company reserves the right to change, modify, alter, amend, or cancel this Plan at any time,
with or without notice and with or without consideration.

Acknowledgement

We hereby acknowledge receipt and agree with the foregoing variable pay plan for FY 2010 (the
“Plan”), which is in effect from December 28, 2009, through December 26, 2010. Except as otherwise
stated in the Plan, the Plan supersedes and replaces all other variable pay plans that previously
applied to your current position with Spherion.

We also understand that any exception or modification to the Plan must be approved in writing by
the Chief Human Resources Officer and/or his or her designee and the President of the Business
Group of Spherion Corporation.

					
	 	 	 	 	 
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