SEC Contract Filing

Filing Date: 2020-05-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>exhibit103formof2020se.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<div><a name="s71C6CF415CF4EB8182C697F21F5E9008"></a></div><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">2020 Senior Executive Team </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Performance-Based Restricted Stock Unit Award Agreement</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NCR Corporation 2017 Stock Incentive Plan</font></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Congratulations on your award of performance-based restricted stock units of NCR Common Stock as part of NCR&#8217;s 2020 executive compensation program.&#160; The Compensation and Human Resources Committee of our Board of Directors approved your award in anticipation of your future contributions to the success of NCR.&#160; The award also recognizes your past performance and upholds our commitment to rewarding our higher performers. &#160;This award is an opportunity to celebrate your achievements and to continue to expand your ownership stake in NCR.</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;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;">Your performance-based restricted stock units (&#8220;Stock Units&#8221;) are awarded (the &#8220;Award&#8221;) by NCR Corporation (&#8220;NCR&#8221; or the &#8220;Company&#8221;) under the NCR 2020 Long-Term Incentive (LTI) Program and the NCR Corporation 2017 Stock Incentive Plan as amended from time to time (&#8220;Plan&#8221;). See the restricted stock units page at www.netbenefits.fidelity.com for the number of Stock Units granted to you, your date of grant (&#8220;Grant Date&#8221;) and other Award details. Your Award is subject to the terms of this 2020 Senior Executive Team Performance-Based RSU Award Agreement and the Plan. Capitalized terms not defined in this Agreement have the meanings provided under the Plan. </font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;padding-top:16px;text-align:justify;text-indent:0px;"><font style="padding-bottom:16px;padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Grant of Stock Units</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">. </font><font style="font-family:inherit;font-size:10pt;">Subject to potential adjustment as set forth in Section 2 and further subject to the other terms and conditions of this Agreement, the earned Stock Units will become vested and non-forfeitable on the three year anniversary of the Grant Date (the &#8220;Vesting Date&#8221;), provided that (i) the Compensation and Human Resource Committee of the NCR Board of Directors (the &#8220;Committee&#8221;) has certified that NCR Corporation (&#8220;NCR&#8221; or &#8220;Company&#8221;) has achieved the annual performance goals specified below for the period from January 1, 2020 through December 31, 2022 (the &#8220;Performance Period&#8221;), and (ii) you are continuously employed by an Employer through and until the Vesting Date. The Stock Units are referred to in this Agreement as &#8220;Vested&#8221; at the time they become vested and non-forfeitable pursuant to this Section or Section 2 or Section 4 below.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Performance Vesting</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">.</font><font style="font-family:inherit;font-size:10pt;">&#32;&#32;The number of Stock Units awarded to you (the &#8220;Target Award Number&#8221;) may be adjusted upward or downward depending on whether NCR&#8217;s achievement against the performance goals of annual growth in Recurring Revenue (independently weighted 50%) and LTI EBITDA (independently weighted 50%) (the &#8220;Performance Goals&#8221;) for the Performance Period (&#8220;NCR Performance&#8221;) is greater or less than the annual targets for these Performance Goals established by the Committee. NCR Performance will be measured in the manner determined by the Committee, and will be subject to any adjustments approved by the Committee. You may receive from 0% up to 200% of the Target Award Number based on NCR Performance. The number of Stock Units that you will receive under this Agreement, after giving effect to any adjustment, is referred to as the &#8220;Earned Units.&#8221;</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Earned Units represent the right to receive a number of Stock Units equal to the number of Earned Units, subject to the ve