SEC Contract Filing

Filing Date: 2022-08-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.10
<SEQUENCE>4
<FILENAME>fy212210-kexhibit10x10.htm
<DESCRIPTION>STAR PROGRAM SUMMARY
<TEXT>
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<title>Document</title></head><body><div id="i1519c3ee32c74a268b1d348c0895979a_1"></div><div style="min-height:45.35pt;width:100%"><div><font><br></font></div></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:18pt;font-weight:400;line-height:112%">Exhibit (10-10)</font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:18pt;font-weight:400;line-height:112%">STAR Program Summary</font></div><div><font><br></font></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:45.35pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%;text-decoration:underline">SHORT TERM ACHIEVEMENT REWARD PROGRAM</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%;text-decoration:underline">(Effective July 1, 2022)</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%">The Short-Term Achievement Reward (&#8220;STAR&#8221;) Program is The Procter &#38; Gamble Company&#8217;s (the &#8220;Company&#8221;) annual bonus program designed to motivate and reward employees for achieving outstanding short-term business results for the Company and its subsidiaries. STAR awards are made pursuant to authority delegated to the Compensation &#38; Leadership Development Committee (the &#8220;C&#38;LD Committee&#8221;) by the Board of Directors for awarding compensation to the Company&#8217;s principal officers and for making awards under the Procter &#38; Gamble 2019 Stock and Incentive Compensation Plan (the &#8220;2019 Plan&#8221;) or any successor stock plan approved in accordance with applicable listing standards. </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%">I. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%;text-decoration:underline">ELIGIBILITY</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%">Employees at Band 1 or above and who worked at least 28 days (four calendar weeks) during the applicable fiscal year are eligible to participate. Eligible employees who do not work a full schedule (e.g., leaves of absence, disability, and less-than-full time schedules) in the fiscal year in which the award is payable may have awards pro-rated. </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%">II. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%;text-decoration:underline">CALCULATION</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%">The individual STAR Award is calculated as follows&#58; </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%">(</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%">STAR Target</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%">) x &#91; (</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%">Business Unit Performance Factor </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%">x 70% weighting) + (</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%">Total Company Performance Factor</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> X 30% weighting) &#93; </font></div><div><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%;padding-left:13.8pt">The </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:112%">STAR Target </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%">for each participant is calculated as&#58; </font></div><div><font><br></font></div><div style="padding-left:27pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%">(Base Salary) x (STAR Target percent) where</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:112%"> Base Salary</font><font style="c