SEC Contract Filing

Filing Date: 2018-02-27

Document Content:
<DOCUMENT>
<TYPE>EX-10.7(X)
<SEQUENCE>5
<FILENAME>a201710-kex107x.htm
<DESCRIPTION>EXHIBIT 10.7(X)
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<div><a name="s8ab2592f1be04b9ea7e9fc3c7876fe91"></a></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.7(x)</font></div><div style="line-height:120%;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:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">NORTHERN TRUST CORPORATION</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">AMENDMENT TO</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">TERMS AND CONDITIONS</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">RELATING TO STOCK OPTIONS GRANTED</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">PURSUANT TO THE 2012 STOCK PLAN</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1. Section 3(c) is hereby revised by adding the following provision at the end thereof, effective as of the original Grant Date reflected in the Award Notice:</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">"Notwithstanding the foregoing, you will continue to vest in your unvested Stock Options pursuant to this Section 3(c) regardless of whether you cease to be Retired from the Industry if (i) the Corporation, in its sole discretion, characterizes your termination as a Severance-Eligible Termination, (ii) your termination is subject to mutual agreement and you have executed an effective settlement agreement, waiver and release that is satisfactory to the Corporation, in its sole discretion, (iii) you cease to be an employee by reason of Disability, or (iv) a forfeiture upon your ceasing to be Retired from the Industry would violate applicable law."</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">*******************************</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Page </font><font style="font-family:inherit;font-size:10pt;">1</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">NORTHERN TRUST CORPORATION</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">TERMS AND CONDITIONS</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">RELATING TO STOCK OPTIONS GRANTED</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">PURSUANT TO THE 2012 STOCK PLAN</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Grant of Stock Options</font><font style="font-family:inherit;font-size:12pt;">. The Stock Options to purchase shares of Common Stock of Northern Trust Corporation (the &#8220;Corporation&#8221;) granted to you pursuant to your Award Notice are subject to these Terms and Conditions Relating to Stock Options Granted Pursuant to the 2012 Stock Plan (the &#8220;Terms and Conditions&#8221;), the Stock Option Award Notice (the &#8220;Award Notice&#8221;) and all of the terms and conditions of the Northern Trust Corporation 2012 Stock Plan (the &#8220;2012 Stock Plan&#8221;), which is incorporated herein by reference. In the case of a conflict between these Terms and Conditions, the Award Notice and the terms of the 2012 Stock Plan, the provisions of the 2012 Stock Plan will govern. Capitalized terms used but not defined herein have the meaning provided therefor in the 2012 Stock Plan. </font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exercise Pr