SEC Contract Filing

Filing Date: 2015-02-27

Document Content:
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<TYPE>EX-10.41.1
<SEQUENCE>7
<FILENAME>exhibit10411bayerletteradd.htm
<DESCRIPTION>EXHIBIT 10.41.1
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 <title>Exhibit 10.41.1 BayerLetterAdditionalTermsofEmployment</title>
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<a name="scaff2cf360944b8589a5f7b7307fe33e"></a><div></div><br><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">EXHIBIT 10.41.1</font></div><div style="line-height:120%;text-align:left;"><img src="ncrlogobayerletter.gif" style="height:94px;width:300px;"></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">03 July 2014</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;font-style:italic;font-weight:bold;text-decoration:underline;">Personal &amp; Confidential</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Mr. Michael Bayer</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(via e-mail)</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:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Dear Michael,</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Following is a summary of the additional elements of the offer for you to join NCR Corporation that are being provided in addition to the standard terms and conditions of employment that you will receive as an employee of NCR GmbH.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Management Incentive Plan (MIP) Participation</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">You will participate in NCR's Management Incentive Plan (MIP) subject to the terms of the plan. The MIP is an annual bonus program with a payout that varies based on the actual results achieved by NCR, the Retail organization, and your individual performance; and is paid in the first calendar quarter following the plan year.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Your initial MIP target incentive opportunity will be 90% of your annual base salary (with a maximum potential payout equal to 300% of you target incentive opportunity), where the payout will be based on NCR's achievement of our annual "Core Financial Measures" and certain MBOs that I will establish for you each plan year. You are also eligible for the Customer Success component of the MIP representing a target incentive opportunity equal to 10% of your annual base salary (with a maximum potential payout equal to 10% of your annual base salary which operates as a "make or miss" opportunity), where the payout will be linked to the NCR's overall achievement of our annual Customer Loyalty goals.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The MIP eligibility requirements and guidelines are subject to change from time to time determined at the discretion of the Compensation and Human Resource Committee of the NCR Board of Directors (hereinafter the "Committee").</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Your MIP payout for the 2014 plan year will be no less than EUR 175,000 (before taxes and other deductions), and will be payable to you in March 2015. You must be employed by NCR, its subsidiaries or affiliates, at the time of payment in order to be eligible to receive any bonus or incentive payout from NCR.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Economic Profit Plan (EPP) Participation</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">NCR's Economic Profit Plan ("EPP") provides the opportunity to participate in a portion of the "Economic Profit" created by NCR annually through a banking concept, where 33% of your Economic Profit Bank earned becomes payable in cash in August of the following year, so long as you remain employed by NCR at the time of payment. The EPP is designed to strengthen the link between the management team and sustainable