SEC Contract Filing

Filing Date: 2019-05-07

Document Content:
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<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>exhibit1032019performa.htm
<DESCRIPTION>EXHIBIT 10.3
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<div><a name="s0A6C0856744445E4FBBC456EACA48FE8"></a></div><div><div style="line-height:120%;text-align:justify;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:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">2019 Performance-Based Restricted Stock Unit Award Agreement</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">NCR Corporation 2017 Stock Incentive Plan</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">You have been awarded performance-based restricted stock units (&#8220;Stock Units&#8221;) from NCR Corporation. See www.netbenefits.fidelity.com for your award details, including effective date (&#8220;Grant Date&#8221;). Your award is subject to the terms of this Agreement, including non-competition and other restrictive covenants. Your award is also subject to the NCR Corporation 2017 Stock Incentive Plan terms, as may be amended from time to time (&#8220;Plan&#8221;), which defines capitalized terms not defined herein. </font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;padding-top:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;padding-top:16px;text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Grant of Stock Units. </font><font style="font-family:inherit;font-size:12pt;">Subject to potential adjustment as set forth in Section 2 and further subject to the other terms and conditions of this Agreement, one-third (1/3) of the earned Stock Units will become vested and non-forfeitable on each of the first, second and third anniversaries of the Grant Date (each a &#8220;Vesting Date&#8221;), provided that (i) the Compensation and Human Resource Committee of the NCR Board of Directors (the &#8220;Committee&#8221;) has certified that NCR Corporation (&#8220;NCR&#8221; or &#8220;Company&#8221;) has achieved the performance goals specified below for the period from January 1, 2019 through December 31, 2019 (the &#8220;Performance Period&#8221;), and (ii) you are continuously employed by NCR or a Subsidiary or Affiliate of NCR (each, an &#8220;Employer&#8221;) through and until the applicable Vesting Date. In all cases, the Committee shall certify whether NCR has achieved the specified performance vesting measures (as outlined in Section 2 below), within ninety (90) days following the end of the Performance Period. The Stock Units are referred to in this Agreement as &#8220;Vested&#8221; at the time they become vested and non-forfeitable pursuant to this Section or Section 2 or Section 4 below.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Performance Vesting.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;The number of Stock Units awarded to you (the &#8220;Target Award Number&#8221;) may be adjusted upward or downward depending on whether NCR&#8217;s Revenue (independently weighted 40%) and Adjusted Operating Income (independently weighted 60%) for the Performance Period (&#8220;NCR Performance&#8221;) is greater or less than the targets for these performance measures (the &#8220;Performance Targets&#8221;). You may receive from 0% up to 200% of the Target Award Number based on NCR Performance. The number of Stock Units that you will receive under this Agreement, after giving effect to such adjustment, is referred to as the &#8220;Earned Units.&#8221;</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Earned Units represent the right to receive a number of Stock Units equal to the number of Earned Units, subject to the vesting requirements and distribution provisions of this Agreement and the terms of the Plan. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Notwithstanding the foregoing, the Committee reserves the right to reduce the Earned Units based on the achievement of the Revenue and Adjusted Operating Income goals during the Performance Period, and as a result, may reduce the number of Stock Units that will vest based on such achievement and such other factors as the Committee in its sole and absolute discretion determines to be appropriate and/or advisable.</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">For purposes of this Agreement, &#8220;Revenue&#8221; and &#8220;Adjusted Operating Income&#8221; shall have the meanings approved by the Committee. The Earned Units shall be determined by the Committee based on the extent that the &#8220;Threshold,&#8221; &#8220;Target&#8221; and &#8220;Maximum&#8221; levels