SEC Contract Filing

Filing Date: 2019-02-14

Document Content:
<DOCUMENT>
<TYPE>EX-10.22
<SEQUENCE>4
<FILENAME>xpo201810-kexx1022.htm
<DESCRIPTION>EXHIBIT 10.22
<TEXT>
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<div><a name="sD04ABC93DCD3FCE2FFE886CD33463B08"></a></div><div><div style="line-height:138%;padding-bottom:13px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:138%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.22</font></div><div style="line-height:138%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:138%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Form of PSU Agreement Amendment Letter</font></div><div style="line-height:138%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:138%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">XPO Logistics, Inc.</font></div><div style="line-height:138%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Five American Lane</font></div><div style="line-height:138%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Greenwich, Connecticut, 06831</font></div><div style="line-height:138%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">December 31, 2018</font></div><div style="line-height:138%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:138%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Troy Cooper</font></div><div style="line-height:138%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:138%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:138%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Dear Troy:</font></div><div style="line-height:138%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:138%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Reference is hereby made to the Performance-Based Restricted Stock Unit Award Agreement under the XPO Logistics, Inc. Amended and Restated 2011 Omnibus Incentive Compensation Plan, dated as of February 9, 2016, between you and the Company (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">2016 PSU Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;). This letter agreement (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Letter Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) memorializes the agreement between you and XPO Logistics, Inc. (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;) to reduce the cash amount otherwise due to you pursuant to Section 3(e) of the 2016 PSU Agreement in respect of the 2018 fiscal year by an amount determined by the Company&#8217;s Compensation Committee at any time prior to the Settlement Date (as defined in the 2016 PSU Agreement), provided that the amount of such reduction shall not exceed 50% of such cash payment otherwise due to you. The effective date of this Letter Agreement is the date first set forth above.</font></div><div style="line-height:138%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Accordingly, you and the Company hereby agree that Section 3(e) of the 2016 PSU Agreement titled &#8220;Settlement of RSU Award&#8221; shall be amended by adding the following sentence at the end thereof:</font></div><div style="line-height:138%;padding-bottom:16px;text-align:justify;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Notwithstanding the foregoing or anything else to the contrary in this Agreement, if the RSUs scheduled to vest on February 9, 2019 become earned and vested in accordance with the terms of this Agreement, the cash payment otherwise due to you pursuant to this Section 3(e) in respect of such RSUs shall be reduced by&#160;an amount determined by the Company&#8217;s Compensation Committee at any time prior to the Settlement Date, provided that the amount of such reduction shall not exceed 50% of such cash payment otherwise due to you.</font></div><div style="line-height:138%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;">&#32;[Remainder of page intentionally left blank.]</font></div><div><br></div><div><div style="line-height:120%;padding-bottom:24px;text-align:center;text-indent:768px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:138%;padding-bottom:13px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:138%;padding-bottom:13px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-heig