SEC Contract Filing

Filing Date: 2019-04-29

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>q12019ex103.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<div><a name="s7d741f8c45554a4bb072474d860df246"></a></div><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.3</font></div><div style="line-height:120%;text-align:right;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;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:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;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:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;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:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:1px;text-align:center;padding-left:157px;font-size:17pt;"><font style="font-family:inherit;font-size:17pt;font-weight:bold;">Northern Partners Incentive Plan</font></div><div style="line-height:120%;padding-top:1px;text-align:center;padding-left:157px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:1px;text-align:center;padding-left:157px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(As amended and restated on February 18, 2019)</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:268px;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;font-weight:bold;text-decoration:underline;">I.</font><font style="font-family:inherit;font-size:11.5pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:11.5pt;font-weight:bold;text-decoration:underline;">INTRODUCTION</font></div><div style="line-height:120%;padding-top:0px;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;font-weight:bold;">1.1&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Purpose</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">. </font><font style="font-family:inherit;font-size:12pt;">The purpose of the Northern Partners Incentive Plan (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 to</font></div><div style="line-height:120%;text-align:left;padding-left:9px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i) promote the achievement of superior financial and operating performance of Northern Trust Corporation and its subsidiaries (hereinafter referred to as &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Northern Trust</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and (ii) further the objective of delivering unrivaled service quality to its clients and partners through the awarding of incentive payments to selected employees.</font></div><div style="line-height:120%;padding-top:0px;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;font-weight:bold;">1.2&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Definitions</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:4px;text-align:left;padding-left:70px;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;font-weight:bold;">&#8220;</font><font style="font-family:inherit;font-size:11.5pt;font-weight:bold;text-decoration:underline;">Authorized Senior Manager</font><font style="font-family:inherit;font-size:11.5pt;font-weight:bold;">&#8221; </font><font style="font-family:inherit;font-size:11.5pt;">shall mean the officer or officers of Northern Trust who have been designated by the Committee to administer certain elements of the Plan, as specified herein.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:70px;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;font-weight:bold;">&#8220;</font><font style="font-family:inherit;font-size:11.5pt;font-weight:bold;text-decoration:underline;">Board</font><font style="font-family:inherit;font-size:11.5pt;font-weight:bold;">&#8221; </font><font style="font-family:inherit;font-size:11.5pt;">shall mean the Board of Directors of the Corporation.</font></div><div st