SEC Contract Filing

Filing Date: 2020-02-25

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>3
<FILENAME>ufs-ex105_93.htm
<DESCRIPTION>EX-10.5
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.5</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">PERFORMANCE SHARE UNIT AGREEMENT </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">FOR AWARDS GRANTED IN 2019<br /></p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:8.33%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">PERFORMANCE SHARE UNIT AGREEMENT (the &#8220;<font style="text-decoration:underline;">Agreement</font>&#8221;) dated as of the Grant Date set forth in the Notice of Grant (as defined below), by and between Domtar Corporation, a Delaware corporation (the &#8220;<font style="text-decoration:underline;">Company</font>&#8221;), and the participant whose name appears in the Notice of Grant (the &#8220;<font style="text-decoration:underline;">Participant</font>&#8221;).</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:8.33%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.&nbsp;&nbsp;<font style="text-decoration:underline;">Grant of Performance Share Units</font>.&nbsp;&nbsp;The Company hereby evidences and confirms its grant to the Participant, effective as of the Grant Date, of the number of performance-based restricted stock units (the &#8220;<font style="text-decoration:underline;">Performance Share Units</font>&#8221;) specified in the Domtar Corporation 2007 Omnibus Incentive Plan Performance Share Unit Grant Notice delivered by the Company to the Participant (the &#8220;<font style="text-decoration:underline;">Notice of Grant</font>&#8221;).&nbsp;&nbsp;This Agreement is subordinate to, and the terms and conditions of the Performance Share Units granted hereunder are subject to, the terms and conditions of the Amended and Restated Domtar Corporation 2007 Omnibus Incentive Plan (the &#8220;<font style="text-decoration:underline;">Plan</font>&#8221;), which are incorporated by reference herein.&nbsp;&nbsp;If there is any inconsistency between the terms hereof and the terms of the Plan, the terms of the Plan shall govern.&nbsp;&nbsp;Any capitalized terms used herein without definition shall have the meanings set forth in the Plan.&nbsp;&nbsp;The Performance Share Units shall be considered Performance Awards under the Plan.</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:8.33%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.&nbsp;&nbsp;<font style="text-decoration:underline;">Vesting of Performance Share Units</font>.&nbsp;&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:8.33%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(a)&nbsp;&nbsp;<font style="text-decoration:underline;">Vesting</font>.&nbsp;&nbsp;Except as otherwise provided in this Section 2, the Performance Share Units shall become vested, if at all, on the vesting date(s) set forth in the Notice of Grant (each, a &#8220;<font style="text-decoration:underline;">Vesting Date</font>&#8221;), subject to the continued employment of the Participant by the Company or any Subsidiary thereof through such date, and to the achievement of the Performance Goals (the &#8220;<font style="text-decoration:underline;">Goals</font>&#8221;) established by the Committee pursuant to the Plan for the Performance Share Units for the performance period(s) (each a &#8220;<font style="text-decoration:underline;">Performance Period</font>&#8221;) set forth in the Notice of Grant.&nbsp;&nbsp;As soon as feasible after the end of each Performance Period, the Committee will determine whether the Goals have been satisfied, in whole or in part.&nbsp;&nbsp;Based upon the foregoing determination, the number of Performance Share Units will vest on the Vesting Date on a percentage basis, as set forth in the Notice of Grant.&nbsp;&nbsp;Performance Share Units that have not vested by the Vesting Date in accordance with this Section 2 shall be forfeited.&nbsp;&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:8.33%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(b)&nbsp;&nbsp;<font style="text-decoration:underline;">Termination of Employment</font>.&nbsp;&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:8.33%;text-indent:8.33%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Ref162845058"></a><a name="_AEIOULastRenderedPageBreakAEIOU2"></a>(i)&nbsp;&nbsp;<font style="text-decoration:underline;">Death</font>.&nbsp;&nbsp;If the Participant&#8217;s employment is terminated due to death prior to the end of a Performance Period, 100% of the Performance Share Units relating to such Performance Period, multiplied by a fraction, the numerator of which is the number of days elapsed from the commencement of the Performance Period through the date of the Participant&#8217;s death and the denominator of which is the number of days in the Performance Period, shall become fully vested and nonfor