SEC Contract Filing

Filing Date: 2018-10-19

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>fy1819q1jas10-qexhibit10x1.htm
<DESCRIPTION>THE PROCTER & GAMBLE PERFORMANCE STOCK PROGRAM SUMMARY
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
 <!-- Document created using Wdesk 1 -->
 <!-- Copyright 2018 Workiva -->
 <title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="seaa14da62a824746a96dc6be5e2af690"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;">EXHIBIT (10-1)</font><font style="font-family:inherit;font-size:18pt;color:#000080;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;color:#000080;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;">The Procter &amp; Gamble Performance Stock Program Summary</font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">PERFORMANCE STOCK PROGRAM SUMMARY</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(Effective July 1, 2018)</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The Performance Stock Program (&#8220;PSP&#8221;) is a part of The Procter &amp; Gamble Company&#8217;s (the &#8220;Company&#8221;) long-term incentive (&#8220;LTI&#8221;) compensation and is designed to provide additional focus on key Company measures for top executives with senior management responsibility for total Company results. Awards granted under the PSP (&#8220;PSP Awards&#8221;) are made pursuant to authority delegated to the Compensation &amp; Leadership Development Committee (the &#8220;C&amp;LD Committee&#8221;) by the Board of Directors for determining compensation for the Company&#8217;s principal officers and for making awards under the Procter &amp; Gamble 2014 Stock and Incentive Compensation Plan (the &#8220;2014 Plan&#8221;) or any successor stock plan approved in accordance with applicable listing standards. PSP Awards are Performance-Based Compensation (as defined in Article 15 of the 2014 Plan). </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">I.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">ELIGIBILITY</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The Chairman of the Board and/or Chief Executive Officer and those active executives at Band 6 or above as of October 1 prior to the grant date and recommended by management are eligible to participate (&#8220;Participants&#8221;). </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">II.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">OVERVIEW</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:10px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">A significant portion of the Band 6 and above compensation is delivered through two long-term incentive programs tied to Company performance: PSP and the Long-term Incentive Program. </font></div><div style="line-height:120%;padding-top:10px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Total long-term incentive compensation targets are based on relevant competitive market data considering the median total long-term compensation of comparable positions, regressed for revenue size. The C&amp;LD Committee establishes the Peer Group and sets compensation targets for all Principal Officers including the CEO. The CEO approves compensation targets for non-Principal Officers (generally Band 6 managers). </font></div><div style="line-height:120%;padding-top:10px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The C&amp;LD Committee determines the long-term incentive award for the CEO. The CEO recommends all other Principal Officer awards to the C&amp;LD Committee based on benchmarked long-term compensation targets, adjusted for business results and indiv