SEC Contract Filing

Filing Date: 2019-03-18

Document Content:
<DOCUMENT>
<TYPE>EX-10.45
<SEQUENCE>3
<FILENAME>ten-20181231x10kex1045.htm
<DESCRIPTION>EXHIBIT 10.45
<TEXT>
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<div><a name="s9CB7B00070A80521649577CCE0D55247"></a></div><div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Exhibit 10.45</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">FEDERAL-MOGUL LLC</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">2017 LONG-TERM INCENTIVE PLAN</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">MOTORPARTS SEGMENT</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">For the Period January 1, 2017 &#8211; December 31, 2019</font></div><div style="line-height:168%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:186%;font-size:11pt;padding-left:24px;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">I.</font></div></td><td style="vertical-align:top;"><div style="line-height:186%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">PURPOSE AND STRUCTURE</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The Company&#8217;s (as defined below) 2017 Long-Term Incentive Plan (this or 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;), established for the 2017 Fiscal Year (as defined below) and the two subsequent Fiscal Years thereafter, is designed to drive a culture focused on long-term company performance. The Plan is intended to deliver &#8220;pay-for-performance&#8221; through a long-term incentive payment, which is based on overall Company financial performance during the Performance Period to encourage and stimulate superior performance by eligible Participants, and to assist in retaining key employees. In addition, this Plan is intended to be in effect during the Performance Period, subject to the right of the Compensation Committee to amend, modify or terminate this Plan as provided below. All capitalized terms used in the Plan have the meaning assigned to such terms in Section II below unless such terms are otherwise defined in the 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><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:186%;font-size:11pt;padding-left:24px;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">II.</font></div></td><td style="vertical-align:top;"><div style="line-height:186%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">DEFINITIONS</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Definitions for specific terms used within this Plan are identified 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><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:48px;"><font style="font-family:inherit;font-size:11pt;">A.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">&#8220;Affiliate&#8221;</font><font style="font-family:inherit;font-size:11pt;">&#32;means </font><font style="font-family:inherit;font-size:11pt;">each of the following: (i)&#160;any Subsidiary; (ii)&#160;any Parent; (iii)&#160;any corporation, trade or business (including, without limitation, a partnership or limited liability company) which directly or indirectly controls fifty percent (50%) or more (whether by ownership of stock, assets or an equivalent ownership interest or voting interest) of the Company or one of its Affiliates; (iv) any trade or business (including, without limitation, a partnership or limited liability company) which directly or indirectly controls fifty percent (50%) or more (whether by ownership of stock, assets or an equivalent ownership interest or voting interest) of the Company; and (v)&#160;any other entity in which the Company or any of its Affiliates has a material equity interest and which is designated as an &#8220;Affiliate&#8221; by resolution of the Compensation Committee.</font></div></td></tr></table><div style="line-height:120%;text-align:left;padding-left:72px;font-size:11pt;"><font style="font-family:inhe