SEC Contract Filing

Filing Date: 2018-05-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>8
<FILENAME>lll-033018exhibit105.htm
<DESCRIPTION>EXHIBIT 10.5
<TEXT>
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<div><a name="sF33C1EF50070315415090389C8A7CE91"></a></div><div><div style="line-height:240%;text-align:right;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:11pt;"><font style="font-family:inherit;font-size:11pt;">L3 TECHNOLOGIES, INC.</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">AMENDED AND RESTATED</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">2008 LONG TERM PERFORMANCE PLAN</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">PERFORMANCE UNIT AGREEMENT</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(Version 2018)</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">This Performance Unit Agreement (this &#8220;Agreement&#8221;), effective as of the Grant Date (as defined below), is between L3 Technologies, Inc., a Delaware corporation (the &#8220;Corporation&#8221; or &#8220;L3&#8221;), and the Participant (as defined below).</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">1.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Definitions</font><font style="font-family:inherit;font-size:11pt;">. Capitalized terms not otherwise defined herein shall have the respective meanings ascribed to them in the L3 Technologies, Inc. Amended and Restated 2008 Long Term Performance Plan (the &#8220;Plan&#8221;).</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;</font><font style="font-family:inherit;font-size:11pt;">The following terms shall have the following meanings for purposes of this Agreement:</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(a)&#160;&#160;&#160;&#160;&#8220;Applicable Unit Multiplier&#8221; shall mean, with respect to each Performance Measure, the &#8220;Unit Multiplier&#8221; calculated pursuant to the Award Letter based on the actual level of achievement for the Performance Period; </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;">, that in the event of a Change in Control, the &#8220;Applicable Unit Multiplier&#8221; shall mean 100%, subject to upward adjustment (but not above 200%) to the extent (if any) that the Committee is able, in its sole discretion, to assess that the Corporation&#8217;s progress, at or prior to the Change in Control, towards the achievement levels set forth in the Award Letter for such Performance Measure exceeds the &#8220;Target&#8221; performance level as adjusted to account for the reduced period of actual performance.</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(b)&#160;&#160;&#160;&#160;&#8220;Award Letter&#8221; shall mean the award notice to the Participant attached hereto as Exhibit&#160;A.&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(c)&#160;&#160;&#160;&#160; &#8220;Cause&#8221; shall mean the Participant&#8217;s (1) intentional failure to perform reasonably assigned duties, (2) dishonesty or willful misconduct in the performance of duties, (3) engaging in a transaction in connection with the performance of duties to the Corporation or its subsidiaries which transaction is adverse to the interests of the Corporation and is engaged in for personal profit or (4) willful violation of any law, rule or regulation in connection with the performance of duties (other than traffic violations or similar offenses).</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(d)&#160;&#160;&#160;&#160;&#8220;Change in Control&#8221; shall mean:</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:100px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-s