SEC Contract Filing

Filing Date: 2017-02-21

Document Content:
<DOCUMENT>
<TYPE>EX-10.9
<SEQUENCE>3
<FILENAME>ex1092008omnibusstockincen.htm
<DESCRIPTION>2008 OMNIBUS STOCK INCENTIVE PLAN
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 <title>Exhibit</title>
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<div><a name="s1ED408B168CDDD2107DCF5F6B118C6F7"></a></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;font-weight:bold;">PENTAIR PLC</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:Arial;font-size:11pt;font-weight:bold;">2008 OMNIBUS STOCK INCENTIVE PLAN</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;font-weight:bold;">As Amended and Restated Effective as of January 1, 2017</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:Arial;font-size:11pt;font-weight:bold;padding-right:48px;">1.</font><font style="font-family:Arial;font-size:11pt;font-weight:bold;">Purpose and Effective Date. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:Arial;font-size:11pt;font-style:italic;">Purpose</font><font style="font-family:Arial;font-size:11pt;">. The Pentair plc 2008 Omnibus Stock Incentive Plan has several complementary purposes: (i) to promote the growth and success of the Company by linking a significant portion of participant compensation to the increase in value of the Company&#8217;s shares; (ii) to attract and retain top quality, experienced executives and key employees by offering a competitive incentive compensation program; (iii) to reward innovation and outstanding performance as important contributing factors to the Company 's growth and progress; (iv) to align the interests of executives, key employees, directors and consultants with those of the Company&#8217;s shareholders by reinforcing the relationship between participant rewards and shareholder gains obtained through the achievement by plan participants of short-term objectives and long-term goals; and (iv) to encourage executives, key employees, directors and consultants to obtain and maintain an equity interest in the Company. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:Arial;font-size:11pt;font-style:italic;">Effective Date</font><font style="font-family:Arial;font-size:11pt;">. This Plan became effective, and Awards were granted under this Plan: (1) with regard to Non-Employee Directors, on and after February 26, 2008, provided that any Awards made prior to the </font><font style="font-family:Arial;font-size:11pt;">date that the Plan is approved by the Company&#8217;s shareholders shall be contingent on such shareholder approval, and (2) with regard to all other eligible individuals, the date that the Plan is approved by the Company&#8217;s shareholders. If the Company&#8217;s shareholders approve this Plan, then the Pentair, Inc. Omnibus Stock Incentive Plan (the &#8220;Prior Plan&#8221;) will terminate on the date of such shareholder approval, and no new awards will be granted under the Prior Plan after its termination date; </font><font style="font-family:Arial;font-size:11pt;font-style:italic;">provided</font><font style="font-family:Arial;font-size:11pt;">&#32;that the Prior Plan will continue to govern awards outstanding as of the date of such plan&#8217;s termination and such awards shall continue in force and effect until fully distributed or terminated pursuant to their terms. The Plan terminated on September 28, 2012.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;font-weight:bold;">2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:Arial;font-size:11pt;font-weight:bold;">Definitions. </font><font style="font-family:Arial;font-size:11pt;">Capitalized terms used in this Plan have the following meanings: </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:Arial;font-size:11pt;">&#8220;10% Stockholder&#8221; means an Eligible Employee who, as of the date an ISO is granted to such individual, owns more than ten percent (10%) of the total combined voting power of all classes of Stock then issued by the Company or a Subsidiary corporation.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:Arial;font-size:11pt;">&#8220;Administrator&#8221; means (i) the Committee with respect to Participants who are Eligible Employees and Consultants and (ii) the N