SEC Contract Filing

Filing Date: 2024-12-31

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d903905dex101.htm
<DESCRIPTION>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CAPITAL AND EARNINGS IMRPOVEMENT AWARD </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PERFORMANCE SHARES AWARD AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Certain&nbsp;confidential&nbsp;portions of this Exhibit were omitted by means of marking such portions with brackets (&#147;[****]&#148;) because the
identified&nbsp;confidential&nbsp;portions (i)&nbsp;are not material and (ii)&nbsp;would be competitively harmful if publicly disclosed. </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">KeyCorp
grants to the Participant named below, in accordance with the terms, and subject to the conditions, of the KeyCorp Amended and Restated 2019 Equity Compensation Plan (the &#147;<U>Plan</U>&#148;), this Performance Shares Award Agreement (the
&#147;<U>Award Agreement</U>&#148;) and the attached Acceptance Agreement, an award of the target number of performance shares (&#147;<U>Performance Shares</U>&#148; or &#147;<U>Award</U>&#148;), on the Date of Grant, each as set forth below. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each Performance Share represents the contingent right to receive one Common Share, subject to the terms and conditions set forth in the Plan, this Award
Agreement and the Acceptance Agreement. The Participant&#146;s right to receive payment of all, a portion, or a multiple of the Performance Shares shall be contingent upon the level of achievement of the Performance Goals and the Participant&#146;s
continued employment, each as provided herein, in all cases subject to the other terms and conditions of this Award Agreement, the Plan and the Acceptance Agreement. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top">Name of Participant:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">[&#149;]</TD></TR>
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<TD VALIGN="top">Target Number of Performance Shares:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">[&#149;]</TD></TR>
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<TD VALIGN="top">Date of Grant:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">December&nbsp;30, 2024</TD></TR>
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<TD VALIGN="top">Vesting Date:</TD>
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<TD VALIGN="top">The date in the first quarter of fiscal 2027 on which the Committee certifies the level of achievement of the Performance Goals set forth below, subject to (a)&nbsp;your continued employment on such date, (b)&nbsp;the achievement of
the Performance Goals set forth below (except as otherwise provided in this Award Agreement), and (c)&nbsp;the closing of the &#147;Second Closing&#148; as such term is defined in that certain Investment Agreement dated as of August&nbsp;12, 2024,
2024 by and between KeyCorp and The Bank of Nova Scotia.</TD></TR>
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<TD VALIGN="top">Performance Period:</TD>
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<TD VALIGN="top">January&nbsp;1, 2025 through December&nbsp;31, 2026</TD></TR>
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<TD VALIGN="top">Performance Goals:</TD>
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<TD VALIGN="top">The Participant shall conditionally vest in 100% of the target number of Performance Shares if the Committee determines that KeyCorp&#146;s regulatory capital as of December&nbsp;31, 2026 is at or above the then-applicable
regulatory minimum capital requirements plus any then-required capital buffer as detailed in then-current Large Bank Capital Requirements published by the Board of Governors of the Federal Reserve System. Notwithstanding the foregoing, the
Participant may vest in between 0% and 150% of the target number of Performance Shares subject to this Award based on the weighted level of achievement of the additional Performance Goals set out below during the Performance Period, and further
subject to the limit on the Vesting Date Fair Market Value of any vested Performance Shares set out below:</TD></TR>
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