SEC Contract Filing

Filing Date: 2016-02-18

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>ex105stoneburner2016annual.htm
<DESCRIPTION>EXHIBIT 10.5
<TEXT>
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<a name="s46251BF456A782FDEED3EC2005EAC011"></a><div></div><br><div style="line-height:110%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CINCINNATI FINANCIAL CORPORATION</font></div><div style="line-height:110%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ANNUAL INCENTIVE COMPENSATION PLAN OF 2009</font></div><div style="line-height:110%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(AS AMENDED JANUARY 31, 2014)</font></div><div style="line-height:110%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PERFORMANCE-BASED AWARD AGREEMENT</font></div><div style="line-height:110%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:110%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CINCINNATI FINANCIAL CORPORATION (the Company) hereby grants to the associate identified below (the Participant) an award in the form of a cash bonus in the amount indicated below under the Cincinnati Financial Corporation Annual Incentive Compensation Plan of 2009, as amended January 31, 2014 (the Amended Plan), to be payable only upon achievement of the Performance Goal during the Performance Period as specified below. The Compensation Committee of the Board of Directors (Committee) retains complete negative discretion (within the meaning of the applicable rules of the Internal Revenue Service under Section 162(m) of the Code) to reduce the amount of or eliminate part or all of the Award otherwise earned by the Participant upon the attainment of the Performance Goal in light of factors deemed appropriate by the Committee. </font></div><div style="line-height:110%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:110%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#32;This award is forfeited if the Participant&#8217;s employment with the Company terminates for any reason other than death or retirement during the Performance Period. If the Participant terminates employment with the Company due to death or retirement during the Performance Period and the Performance Goal is satisfied, the Participant may be entitled to the payment of the Award at the discretion of the Committee. In no event shall the Award be paid later than two months and fifteen days following the close of the calendar year in which the Performance Goal is satisfied. </font></div><div style="line-height:110%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:110%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This award is subject to the terms and conditions of the Plan, which the Participant expressly accepts.</font></div><div style="line-height:110%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:110%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">AWARD INFORMATION:</font></div><div style="line-height:110%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:110%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Participant Name: </font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Charles P. Stoneburner, II</font></div><div style="line-height:110%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:110%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Target Award Amount: </font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">$430,291</font></div><div style="line-height:110%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:110%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Award Date: </font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">February 12, 2016</font></div><div style="line-height:110%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:110%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Performance Period: </font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Calendar Year Ending December 31, 2016</font></div><div style="line-height:110%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:110%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Performance Goal: </font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">As described on Page 2 of this Agreement, Final Award Placement determined by Relative VCR*, Revenue as measured by Property Casualty Net Written Premium Growth** and Underwriting Profitability as measured by Combined Ratio**.</font></div><div style="line-height:110%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></