SEC Contract Filing

Filing Date: 2025-02-19

Document Content:
<DOCUMENT>
<TYPE>EX-10.7
<SEQUENCE>5
<FILENAME>lly-20241231x10kexhibit107.htm
<DESCRIPTION>EX-10.7
<TEXT>
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<title>Document</title></head><body><div id="i8e4aa81fc015482a9096e939e00af568_1"></div><div style="min-height:81.36pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Exhibit 10.7 The Lilly Deferred Compensation Plan, as amended</font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">ELI LILLY AND COMPANY</font></div><div style="text-align:center"><font><br></font></div><div style="padding-left:58.5pt;padding-right:58.5pt;text-align:center;text-indent:-117pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration:underline">THE LILLY DEFERRED COMPENSATION PLAN</font></div><div style="padding-left:58.5pt;padding-right:58.5pt;text-align:center;text-indent:-117pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration:underline">(as Amended and Restated Effective January 1, 2025) </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration:underline">Preamble</font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">The Lilly Deferred Compensation Plan (the &#8220;Plan&#8221;) provides selected employees of Eli Lilly and Company (the &#8220;Company&#8221;) the opportunity to defer receipt of a portion of their compensation and have that deferred compensation earn investment returns until distributed. The Plan constitutes an unfunded deferred compensation plan maintained for a select group of management or highly compensated employees for purposes of ERISA. All benefits payable under the Plan will be paid out of the general assets of the Company. Notwithstanding any other provision of this Plan, this Plan shall be interpreted, operated and administered in a manner consistent with these intentions. </font></div><div style="text-align:justify;text-indent:36pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">For the rules that apply to the distribution of amounts that are grandfathered for purposes of the application of Section 409A (i.e., amounts deferred and applicable earnings under the Plan prior to 2005), see Appendix A.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:72pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify;text-indent:-72pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Section 1.&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration:underline">Definition of Terms</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:72pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">The following terms used in the Plan shall have the meanings set forth below&#58;</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:72pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">(a)&#160;&#160;&#160;&#160;&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Account</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8221; means the deferred compensation account maintained for each Participant under the Plan.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:72pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">(b)&#160;&#160;&#160;&#160;&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Annual Bonus</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8221; means the pre-tax amount of a Participant&#8217;s annual bonus for a Plan Year, disregarding any deferrals, offsets or withholdings from such annual bonus, that is earned under the Eli Lilly and Company Bonus Plan, or any successor or similar annual bonus plan or arrangement of the Company in effect.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:72pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">(c)&#160;&#160;&#160;&#160;&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Base Salary</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8221; means the pre-tax amount of a Participant&#8217;s base salary from the Company or a Subsidiary as in effect from time to time during a Plan Year, disregarding any deferrals, offsets or withholdings from such base salary.</font></div><div style="margin-bottom:12pt;text-align:justify;text-i