SEC Contract Filing

Filing Date: 2022-02-15

Document Content:
<DOCUMENT>
<TYPE>EX-10.10
<SEQUENCE>4
<FILENAME>a2021-2023performanceshare.htm
<DESCRIPTION>EX-10.10
<TEXT>
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<title>Document</title></head><body><div id="i711af4f6f29e4e6185a4b4c7b094cbae_1"></div><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%">BORGWARNER INC.<br>2018 STOCK INCENTIVE PLAN</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%"><br>Performance Share Award Agreement</font></div><div style="text-align:center"><font><br></font></div><div style="margin-bottom:13pt;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">BorgWarner Inc., a Delaware corporation (the &#8220;Company&#8221;) hereby awards to the Employee indicated below a Performance Share Award (the &#8220;Award&#8221;) under the BorgWarner Inc. 2018 Stock Incentive Plan (the &#8220;Plan&#8221;), as specified below, effective as of the Grant Date, according to the terms and conditions of this Performance Share Award Agreement (this &#8220;Agreement&#8221;) and the Plan. All capitalized terms shall have the meanings ascribed to them in the Plan, unless specifically set forth otherwise herein. The parties hereto agree as follows&#58;</font></div><div style="margin-bottom:13pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%;text-decoration:underline">Grant Information</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%">&#58;</font></div><div style="margin-bottom:13pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Employee Name&#58;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;XXXX</font></div><div style="margin-bottom:13pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Employee Address&#58;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;XXXX</font></div><div style="margin-bottom:13pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Grant Date&#58;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">March 29, 2021</font></div><div style="margin-bottom:13pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Target Number of Performance Shares</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#58; &#160;&#160;&#160;&#160;(a)&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:13pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:13pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(c) </font></div><div style="margin-bottom:13pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Performance Period</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#58; January 1, 2021 to December 31, 2023</font></div><div style="margin-bottom:13pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Performance Measures</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#58;</font></div><div style="margin-bottom:13pt;padding-left:85.5pt;text-indent:-31.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(a)&#160;&#160;&#160;&#160;Company&#8217;s Total Shareholder Return (TSR) Percentile Rank Among Total Shareholder Return of the Peer Group Companies (Weighted at 25%) </font></div><div style="margin-bottom:13pt;padding-left:85.5pt;text-indent:-31.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(b)&#160;&#160;&#160;&#160;eProducts Revenue Mix (Weighted at 50%)</font></div><div style="margin-bottom:13pt;padding-left:85.5pt;text-indent:-31.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(c) &#160;&#160;&#160;&#160;Cumulative Free Cash Flow (FCF) (Weighted at 25%)</font></div><div style="margin-bottom:13pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%;text-decoration:underline">Terms and Conditions</font></div><div style="margin-bottom:13pt;padding-