SEC Contract Filing

Filing Date: 2020-08-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>exhibit103europeansala.htm
<DESCRIPTION>EX-10.3
<TEXT>
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<title>Document</title></head><body><div id="i53a32f3aad2f4e45948c636899356f42_1"></div><div style="min-height:0pt;width:100%;"><div><font><br></font></div></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:right;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Exhibit 10.3 </font></div><div><font><br></font></div><div><font><br></font></div><div style="margin-top:0.05pt;"><font><br></font></div><div style="padding-right:100.5pt;text-align:center;margin-top:4.65pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#1c1c1c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">COOPER STANDARD EUROPEAN SALARY DEFERRAL PROGRAM</font></div><div><font><br></font></div><div style="margin-top:0.4pt;"><font><br></font></div><div style="text-indent:0.05pt;padding-left:5.25pt;padding-right:77.5pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#1c1c1c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:131%;">Purpose. </font><font style="background-color:rgb(255,255,255, 0.0);color:#1c1c1c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:131%;">The purpose of this Salary Deferral Program (this </font><font style="background-color:rgb(255,255,255, 0.0);color:#2f2f2f;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:131%;">&#34;Program&#34;) </font><font style="background-color:rgb(255,255,255, 0.0);color:#1c1c1c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:131%;">is to better enable Cooper-Standard Automotive Inc. and all other European Cooper Standard Legal Entities (the </font><font style="background-color:rgb(255,255,255, 0.0);color:#2f2f2f;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:131%;">&#34;Company&#34;) </font><font style="background-color:rgb(255,255,255, 0.0);color:#1c1c1c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:131%;">to address the challenges of the COVID-19 global pandemic by providing for the deferral of a portion of European </font><font style="background-color:rgb(255,255,255, 0.0);color:#2f2f2f;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:131%;">employees' </font><font style="background-color:rgb(255,255,255, 0.0);color:#1c1c1c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:131%;">base salary until a later date.</font></div><div style="text-indent:0.05pt;padding-left:5.3pt;padding-right:77.05pt;text-align:justify;margin-top:7.95pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#1c1c1c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:134%;">Impacted </font><font style="background-color:rgb(255,255,255, 0.0);color:#2f2f2f;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:134%;">Employees. </font><font style="background-color:rgb(255,255,255, 0.0);color:#1c1c1c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:134%;">This Program applies to all European </font><font style="background-color:rgb(255,255,255, 0.0);color:#2f2f2f;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:134%;">salaried </font><font style="background-color:rgb(255,255,255, 0.0);color:#1c1c1c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:134%;">employees of the Company (the &#34;Participants&#34;), who are invited to this Program. Each Participant will receive a copy of the Program and sign a document expressing his&#47;her agreement to participate in this Program.</font></div><div style="padding-left:5.35pt;text-align:justify;margin-top:6.5pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#1c1c1c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">Program Term. </font><font style="background-color:rgb(255,255,255, 0.0);color:#1c1c1c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">This Program will start on May 1, 2020 and ends on August 31, 2020.</font></div><div style="text-indent:-0.1pt;padding-left:5.75pt;padding-right:77.3pt;text-align:justify;margin-top:9.45pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#1c1c1c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:138%;">Deferral Percentage. </font><font style="background-color:rgb(255,255,255, 0.0);color:#1c1c1c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:138%;">During the Program term, all Participants will automatically have 20% of their base salary deferred </font><font style="background-color:rgb(255,255,255, 0.0);color:#2f2f2f;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:138%;">(&#34;Deferrals&#34;).</font></div><div style="padding-left:5.7pt;padding-right:76.95pt;text-align:justify;margin-top:6.9pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#1c1c1c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:131%;">Recordkeeping and Interest. </font><font style="background-color:rgb(255,255,255, 0.0);color:#1c1c1c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:131%;">Deferrals will be credited each payroll period into a </font><font style="background-color:rgb(255,255,255, 0.0);color:#2f2f2f;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:131%;">&#34;Deferral </font><font style="background-color:rgb(255,255,255, 0.0);color:#1c1c1c;font-family:'Arial',sans-serif;font-size:10pt