SEC Contract Filing

Filing Date: 2016-02-29

Document Content:
<DOCUMENT>
<TYPE>EX-10.16
<SEQUENCE>4
<FILENAME>omh20151231-ex1016.htm
<DESCRIPTION>EXHIBIT 10.16
<TEXT>
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<a name="s98B217E86CE6439B4CCBE6FC8FCBD9E7"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Exhibit 10.16&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:5px;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-top:5px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">ONEMAIN HOLDINGS, INC. <br>AMENDED AND RESTATED ANNUAL LEADERSHIP INCENTIVE PLAN</font></div><div style="line-height:120%;padding-top:5px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">(Sub-Plan to the 2013 Omnibus Incentive Plan)</font></div><div style="line-height:130%;padding-top:1px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 1. Purpose of the Plan</font></div><div style="line-height:130%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The OneMain Holdings, Inc. Amended and Restated Annual Leadership Incentive Plan (as may be amended from time to time, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Plan</font><font style="font-family:inherit;font-size:12pt;">&#8221;) is designed to (i) assist OneMain Holdings, Inc., a Delaware corporation (or any successor company) (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;) in attracting, retaining and motivating executive leaders, (ii) align the Participants&#8217; interests with those of the Company&#8217;s stockholders and (iii) qualify annual incentive compensation paid to Participants who are &#8220;covered employees&#8221; as &#8220;performance-based compensation&#8221; within the meaning of Section 162(m) of the Code or a successor provision. &#160;The Plan is intended to be administered by the Committee as a sub-plan to the Company&#8217;s 2013 Omnibus Incentive Plan (as may be amended from time to time, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Omnibus Incentive Plan</font><font style="font-family:inherit;font-size:12pt;">&#8221;). In the event of any conflict between the terms and conditions of the Plan and the Omnibus Incentive Plan, the terms and conditions of the Omnibus Incentive Plan shall govern.</font></div><div style="line-height:140%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 2. Definitions</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Omnibus Incentive Plan. All other terms used herein shall have the meanings set forth below:</font></div><div style="line-height:130%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)&#160;&#160;&#160;&#160;&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Award Opportunity</font><font style="font-family:inherit;font-size:12pt;">&#8221; means a specified range of potential Award Payment values defined by a Target Payout, a percentage (less than 100%) of the Target Payout that is payable at Threshold Performance, and a percentage (greater than 100%) of the Target Payout that is payable at Maximum Performance, respectively. &#160;The ranges between the minimum and Target Payout and between the Target Award and maximum are straight-line interpolations.</font></div><div style="line-height:120%;text-align:left;padding-left:24px;text-indent:0px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)&#160;&#160;&#160;&#160;&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Award Payment</font><font style="font-family:inherit;font-size:12pt;">&#8221; means a payment under this Plan to a Participant, subject to Section 4 hereof.</font></div><div style="line-height:130%;padding-top:1px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:1