SEC Contract Filing

Filing Date: 2019-06-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ex102-prsucmdpurviewmarch2.htm
<DESCRIPTION>2019-2022 PERFORMANCE-BASED RESTRICTED STOCK UNITS TERMS AND CONDITIONS
<TEXT>
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<div><a name="sDB7DA99EC8B39E0411AF04C9FB6B8AD5"></a></div><div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Exhibit 10.2</font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">2019-2021 Performance-Based Restricted Stock Units</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Terms and Conditions</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">2018 Equity and Incentive Compensation Plan</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;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">1.</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">&#160;&#160;&#160;&#160;Grant of Performance-Based Restricted Stock Units</font><font style="font-family:inherit;font-size:11pt;">. Macy&#8217;s, Inc. (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:11pt;">&#8221;) has granted to Grantee as of the grant date (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Date of Grant</font><font style="font-family:inherit;font-size:11pt;">&#8221;) that &#8220;Target&#8221; number Performance-Based Restricted Stock Units (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Performance Units</font><font style="font-family:inherit;font-size:11pt;">&#8221;) as shown on the Performance-Based Restricted Stock Unit Award Letter (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Award Letter</font><font style="font-family:inherit;font-size:11pt;">&#8221;) to which these Terms and Conditions apply, subject to the terms, conditions and restrictions set forth herein and in the Macy&#8217;s, Inc. 2018 Equity and Incentive Compensation Plan (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Plan</font><font style="font-family:inherit;font-size:11pt;">&#8221;). These Terms and Conditions and the Award Letter together constitute an Evidence of Award, as defined in the Plan. Subject to Section 11 of the Plan, each Performance Unit represents the right to receive one share of common stock of the Company (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Common Stock</font><font style="font-family:inherit;font-size:11pt;">&#8221;). </font></div><div style="line-height:120%;text-align:left;padding-left:24px;text-indent:0px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">2</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">.&#160;&#160;&#160;&#160;Performance Period. </font><font style="font-family:inherit;font-size:11pt;">&#32;The Performance Period shall commence on February 3, 2019 (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Commencement Date</font><font style="font-family:inherit;font-size:11pt;">&#8221;) and, except as otherwise provided in these Terms and Conditions, will expire in full on January 29, 2022 (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Performance Period</font><font style="font-family:inherit;font-size:11pt;">&#8221;). For the sake of clarity, if a Change in Control occurs, the Performance Period will end on the date of a Change in Control and the Performance Units will convert to time-based restricted stock units in accordance with </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 4(c)</font><font style="font-family:inherit;font-size:11pt;">&#32;below.</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;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">3.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Normal Vesting of Performance Units. </font></div><div style="line-height:120%;padding-top:16px;text-align:left;text-indent:77px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(a) The actual number of Performance Units that may be earned and become nonforfeitable is based on achieving the targeted level of the Company&#8217;s average Comparable Sales Growth (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Comparable Sales Growth</font><font style="font-family:inherit;font-size:11pt;">&#8221;), average Return on Invested Capital (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">ROIC</font><font style="font-family:inherit;font-size:11pt