{"id":38483,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/agreement-pursuant-to-2004-performance-incentive-plan-xerox.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"agreement-pursuant-to-2004-performance-incentive-plan-xerox","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/agreement-pursuant-to-2004-performance-incentive-plan-xerox.html","title":{"rendered":"Agreement Pursuant to 2004 Performance Incentive Plan &#8211; Xerox"},"content":{"rendered":"<p align=\"center\"><strong>AGREEMENT PURSUANT TO <\/strong><\/p>\n<p align=\"center\"><strong>XEROX CORPORATION <\/strong><\/p>\n<p align=\"center\"><strong>2010 AMENDMENT AND RESTATEMENT OF THE 2004 PERFORMANCE<br \/>\nINCENTIVE PLAN <\/strong><\/p>\n<p>AGREEMENT, by Xerox Corporation, a New York corporation (the &#8220;Company&#8221;),<br \/>\ndated as of the date which appears as the &#8220;Date of Agreement and Award&#8221; in the<br \/>\nAward Summary attached hereto (the &#8220;Award Summary&#8221;) in favor of the individual<br \/>\nwhose name appears on the Award Summary, an employee of the Company, one of the<br \/>\nCompany153s subsidiaries or one of its affiliates (the &#8220;Employee&#8221;).<\/p>\n<p>In consideration of your execution and compliance with terms of<br \/>\nconfidentiality and non-compete\/non-solicitation covenants in your<br \/>\nNon-Competition and Non-Solicitation Agreement, and, in accordance with the<br \/>\nprovisions of the &#8220;2004 Performance Incentive Plan&#8221; and any amendments and\/or<br \/>\nrestatements thereto (the &#8220;Plan&#8221;), the Compensation Committee of the Board of<br \/>\nDirectors of the Company (the &#8220;Committee&#8221;) or the Chief Executive Officer of the<br \/>\nCompany (the &#8220;CEO&#8221;) has authorized the execution and delivery of this Agreement.\n<\/p>\n<p>Terms used herein that are defined in the Plan or in this Agreement shall<br \/>\nhave the meanings assigned to them in the Plan or this Agreement, respectively.\n<\/p>\n<p>The Award Summary contains the details of the awards covered by this<br \/>\nAgreement and is incorporated herein in its entirety.<\/p>\n<p>NOW, THEREFORE, in consideration of the premises and for other good and<br \/>\nvaluable consideration the Company agrees as follows:<\/p>\n<p align=\"center\"><strong>AWARDS <\/strong><\/p>\n<p>1. <u>Award of Performance Shares<\/u>. Subject to all terms and conditions of<br \/>\nthe Plan and this Agreement, the Company has awarded to the Employee on the date<br \/>\nindicated on the Award Summary the number of Performance Shares (individually,<br \/>\nthe &#8220;PS&#8221;) as shown on the Award Summary. Notwithstanding anything herein to the<br \/>\ncontrary, only active Employees and those Employees on Short Term Disability<br \/>\nLeave, Social Service Leave, Family Medical Leave or Paid Uniform Services Leave<br \/>\n(pursuant to the Company153s Human Resources Policies) on the effective date of<br \/>\nthe award as shown on the Award Summary shall be eligible to receive the award.\n<\/p>\n<p align=\"center\"><strong>TERMS OF THE PERFORMANCE SHARES <\/strong><\/p>\n<p>2. <u>Entitlement to Shares<\/u>. As soon as practicable on or after the<br \/>\nVesting Date indicated on the Award Summary in connection with the PSs (the<br \/>\n&#8220;Vesting Date&#8221;), the Company shall, without transfer or issue tax to the person<br \/>\nentitled to receive the shares, deliver to such person a certificate or<br \/>\ncertificates for a number of shares of Common Stock equal to the number of<br \/>\nvested PSs (subject to reduction for withholding of Employee153s taxes in relation<br \/>\nto the award as described in Paragraph 10 below). No fractional shares shall be<br \/>\nissued as a result of such tax withholding. Instead, the Company shall apply the<br \/>\nequivalent of any fractional share amount to amounts withheld for taxes.<\/p>\n<p>The Committee shall set performance goals and review performance against such<br \/>\ngoals in connection with determining the payout of PSs. The award of PSs covered<br \/>\nhereby shall be earned based on achieving one hundred percent (100%) of a target<br \/>\non an annual basis based on certain performance measures as shall be determined<br \/>\nfrom time to time by the Committee. To the extent that performance measures are<br \/>\nachieved at or between threshold and maximum levels (as shall be determined by<br \/>\nthe Committee) on a three-year cumulative basis, an additional award of PSs will<br \/>\nbe earned, net of shares previously earned for annual achievement. The Vesting<br \/>\nDate for earned PS awards granted shall be set forth in the Award Summary.<\/p>\n<p>Upon the occurrence of an event constituting a Change in Control, all PSs and<br \/>\ndividend equivalents outstanding on such date shall be treated pursuant to the<br \/>\nterms set forth in the Plan. Upon payment pursuant to the terms of the Plan,<br \/>\nsuch awards shall be cancelled.<\/p>\n<p>3. <u>Dividend Equivalents.<\/u> The Employee shall become entitled to receive<br \/>\nfrom the Company on the Vesting Date a cash payment equaling the same amount(s)<br \/>\nthat the holder of record of a number of shares of Common Stock equal to the<br \/>\nnumber of PSs covered by this Agreement (relating exclusively to PSs earned,<br \/>\nbased on achievement of annual or three-year cumulative performance targets, not<br \/>\nto exceed the target award amount shown on the Award Summary) that are held by<br \/>\nthe Employee on the close of business on the business day immediately preceding<br \/>\nthe Vesting Date would have been entitled to receive as dividends on such Common<br \/>\nStock during the period commencing on the date hereof and ending on the Vesting<br \/>\nDate as provided under Paragraph 2. Payments under this Paragraph shall be net<br \/>\nof any required withholding taxes. Notwithstanding anything herein to the<br \/>\ncontrary, for any Employee who is no longer an employee on the payroll of any<br \/>\nsubsidiary or affiliate of the Company on the payment date of the dividend<br \/>\nequivalents, and such subsidiary or affiliate has determined, with the approval<br \/>\nof the Vice President, Human Resources of the Company, that it is not<br \/>\nadministratively feasible for such subsidiary or affiliate to pay such dividend<br \/>\nequivalents, the Employee will not be entitled to receive such dividend<br \/>\nequivalents.<\/p>\n<p>4. <u>Ownership Guidelines<\/u>. Guidelines pertaining to the Employee153s<br \/>\nrequired ownership of Common Stock shall be determined by the Committee in its<br \/>\nsole discretion from time to time as communicated to Employee in writing.<\/p>\n<p>5. <u>Holding Requirements<\/u>. The Employee must retain fifty percent (50%)<br \/>\nof the net shares of Common Stock acquired in connection with the PSs (net of<br \/>\nwithholding tax and any applicable fees) until ownership guidelines are met<br \/>\nunder Paragraph 4 hereof. Such shares shall be held in the Employee153s Morgan<br \/>\nStanley Smith Barney account or at another account acceptable to the Company.\n<\/p>\n<hr>\n<p>If employment terminates due to the death of the Employee, such holding<br \/>\nrequirements shall cease at the date of death. If the Employee terminates for<br \/>\nany other reason, the holding requirement will be applicable for up to a one<br \/>\nyear period following termination.<\/p>\n<p align=\"center\"><strong>OTHER TERMS <\/strong><\/p>\n<p>6. <u>Rights of a Shareholder<\/u>. Employee shall have no rights as a<br \/>\nshareholder with respect to any shares covered by this Agreement until the date<br \/>\nof issuance of a stock certificate to him for such shares. Except as otherwise<br \/>\nprovided herein, no adjustment shall be made for dividends or other rights for<br \/>\nwhich the record date is prior to the date such stock certificate is issued.\n<\/p>\n<p>7. <u>Non-Assignability<\/u>. This Agreement shall not be assignable or<br \/>\ntransferable by Employee except by will or by the laws of descent and<br \/>\ndistribution.<\/p>\n<p>8. <u>Effect of Termination of Employment or Death<\/u>.<\/p>\n<p>(a) Effect on PSs. In the event the Employee<\/p>\n<p>(i) voluntarily ceases to be an Employee of the Company or any subsidiary or<br \/>\naffiliate for any reason other than retirement, and the PSs have not vested in<br \/>\naccordance with Paragraph 2, the PSs shall be cancelled on the date of such<br \/>\nvoluntary termination of employment.<\/p>\n<p>(ii) involuntarily ceases to be an Employee of the Company or any subsidiary<br \/>\nor affiliate for any reason (including Disability), other than death or for<br \/>\nCause, or voluntarily ceases to be an Employee of the Company or any subsidiary<br \/>\nor affiliate due to a reduction in workforce, shares will vest on a pro rata<br \/>\nbasis, which may, at the discretion of the Company, be contingent upon Employee<br \/>\nexecuting a general release, and which may include an agreement with respect to<br \/>\nengagement in detrimental activity, in a form acceptable to the Company. Such<br \/>\nshares will vest on a pro-rata basis for annual and three-year cumulative<br \/>\nperformance if achieved in accordance with Paragraph 2, based on the Employee153s<br \/>\nactual months of service. For the year in which termination occurs, shares<br \/>\nearned for that year will be calculated as follows: multiply the total award<br \/>\nearned for that year by a fraction, the numerator of which will be the number of<br \/>\nmonths of full service for that year (earning period) and the denominator will<br \/>\nbe 12. Any shares earned for annual performance pursuant to this grant for years<br \/>\nprior to such involuntary termination of employment and shares earned on a<br \/>\npro-rata basis for annual performance as described herein will be paid out as<br \/>\nsoon as practicable following the Vesting Date noted in the Award Summary. For<br \/>\nthree-year cumulative performance, vesting will be calculated as follows:<br \/>\nmultiply the total three-year cumulative award earned by a fraction, the<br \/>\nnumerator of which will be the number of months of full service during the three<br \/>\nyears and the denominator will be 36, and subtract from the sum the number of<br \/>\nshares previously earned for annual performance pursuant to this grant. Payout<br \/>\nshall occur as soon as practicable following the Vesting Date noted in the Award<br \/>\nSummary.<\/p>\n<p>(iii) ceases to be an Employee of the Company or any subsidiary or affiliate<br \/>\nby reason of death, 100% of the PSs pursuant to this grant shall vest on the<br \/>\ndate of death and the certificates for shares shall be delivered in accordance<br \/>\nwith Paragraph 7 to the personal representatives, heirs or legatees of the<br \/>\ndeceased Employee.<\/p>\n<p>(iv) ceases to be an Employee of the Company or any subsidiary or affiliate<br \/>\nby reason of retirement, shares will vest on a pro rata basis, which may, at the<br \/>\ndiscretion of the Company, be contingent upon Employee executing a general<br \/>\nrelease, and which may include an agreement with respect to engagement in<br \/>\ndetrimental activity, in a form acceptable to the Company. Such shares will vest<br \/>\non a pro-rata basis for annual and three-year cumulative performance, if<br \/>\nachieved in accordance with Paragraph 2, based on the Employee153s actual months<br \/>\nof service. For the year in which retirement occurs, shares earned for that year<br \/>\nwill be calculated as follows: multiply the total award earned for that year by<br \/>\na fraction, the numerator of which will be the number of months of full service<br \/>\nfor that year (earning period) and the denominator will be 12. Any shares earned<br \/>\nfor annual performance pursuant to this grant for years prior to retirement and<br \/>\nshares earned on a pro-rata basis for annual performance as described herein<br \/>\nwill be paid out as soon as practicable following the Vesting Date noted in the<br \/>\nAward Summary. For three-year cumulative performance, vesting will be calculated<br \/>\nas follows: multiply the total three-year cumulative award earned by a fraction,<br \/>\nthe numerator of which will be the number of months of full service during the<br \/>\nthree years and the denominator will be 36, and subtract from the sum the number<br \/>\nof shares previously earned for annual performance pursuant to this grant.<br \/>\nPayout shall occur as soon as practicable following the Vesting Date noted in<br \/>\nthe Award Summary; and<\/p>\n<p>(v) ceases to be an Employee of the Company or any subsidiary or affiliate<br \/>\ndue to termination for Cause, the PSs shall be cancelled as provided under the<br \/>\nPlan.<\/p>\n<p>(b) <u>Disability<\/u>. Cessation of active employment due to commencement of<br \/>\nlong-term disability under the Company153s long-term disability plan shall not be<br \/>\ndeemed to constitute a termination of employment for purposes of this Paragraph<br \/>\n8 and during the continuance of such Xerox-sponsored long-term disability plan<br \/>\nbenefits the Employee shall be deemed to continue active employment with the<br \/>\nCompany. If the Employee is terminated because the Employee has received the<br \/>\nmaximum coverage under the Xerox long-term disability plan, the vesting of PSs<br \/>\nshall be provided pursuant to Paragraph 8 (a)(ii) above.<\/p>\n<p>(c) <u>Cause. <\/u> &#8220;Cause&#8221; means (i) a violation of any of the rules,<br \/>\npolicies, procedures or guidelines of the Company, including but not limited to<br \/>\nthe Company153s Business Ethics Policy and the Proprietary Information and<br \/>\nConflict of Interest Agreement (ii) any conduct which qualifies for &#8220;immediate<br \/>\ndischarge&#8221; under the Company153s Human Resource Policies as in effect from time to<br \/>\ntime (iii) rendering services to a firm which engages, or engaging directly or<br \/>\nindirectly, in any business that is competitive with the Company or represents a<br \/>\nconflict of interest with the interests of the Company; (iv) conviction of, or<br \/>\nentering a guilty plea with respect to, a crime whether or not<\/p>\n<\/p>\n<p align=\"center\">2<\/p>\n<hr>\n<p>connected with the Company; or (v) any other conduct determined to be<br \/>\ninjurious, detrimental or prejudicial to any interest of the Company.<\/p>\n<p>9. <u>General Restrictions<\/u>. If at any time the Committee or CEO, as<br \/>\napplicable, shall determine, in its or her discretion, that the listing,<br \/>\nregistration or qualification of any shares subject to this Agreement upon any<br \/>\nsecurities exchange or under any state or Federal law, or the consent or<br \/>\napproval of any government regulatory body, is necessary or desirable as a<br \/>\ncondition of, or in connection with, the awarding of the PSs or the issue or<br \/>\npurchase of shares hereunder, the certificates for shares may not be issued in<br \/>\nrespect of PSs in whole or in part unless such listing, registration,<br \/>\nqualification, consent or approval shall have been effected or obtained free of<br \/>\nany conditions not acceptable to the Committee or CEO, as applicable, and any<br \/>\ndelay caused thereby shall in no way affect the date of termination of the PSs.\n<\/p>\n<p>10. <u>Responsibility for Taxes<\/u>. Employee acknowledges that the ultimate<br \/>\nresponsibility for Employee153s Federal, state and municipal individual income<br \/>\ntaxes, the Employee153s portion of social security and other payroll taxes, and<br \/>\nany other taxes related to Employee153s participation in the Plan and legally<br \/>\napplicable to Employee, is and remains his or her responsibility and may exceed<br \/>\nthe amount actually withheld by the Company or the Employer.<\/p>\n<p>11. <u>Nature of Award<\/u>. In accepting the award, Employee acknowledges<br \/>\nthat:<\/p>\n<p>(a) the Plan is established voluntarily by the Company, it is discretionary<br \/>\nin nature and it may be modified, amended, suspended or terminated by the<br \/>\nCompany at any time in a manner consistent with Section 13 of the Plan regarding<br \/>\nPlan amendment and termination.<\/p>\n<p>(b) the award of the PSs is voluntary and occasional and does not create any<br \/>\ncontractual or other right to receive future grants of PSs, or benefits in lieu<br \/>\nof PSs, even if PSs have been granted repeatedly in the past;<\/p>\n<p>(c) all decisions with respect to future PS awards, if any, will be at the<br \/>\nsole discretion of the Committee;<\/p>\n<p>(d) Employee153s participation in the Plan shall not create a right to further<br \/>\nemployment with the Employer and shall not interfere with the ability of the<br \/>\nEmployer to terminate Employee153s employment relationship at any time; further,<br \/>\nthe PS award and Employee153s participation in the Plan will not be interpreted to<br \/>\nform an employment contract or relationship with the Company or any subsidiary<br \/>\nof the Company;<\/p>\n<p>(e) Employee is voluntarily participating in the Plan;<\/p>\n<p>(f) the PSs and the shares of Common Stock subject to the PSs are an<br \/>\nextraordinary item that does not constitute compensation of any kind for<br \/>\nservices of any kind rendered to the Company or the Employer, and which is<br \/>\noutside the scope of Employee153s employment contract, if any;<\/p>\n<p>(g) the PSs and the shares of Common Stock subject to the PSs are not<br \/>\nintended to replace any pension rights or compensation;<\/p>\n<p>(h) the PSs and the shares of Common Stock subject to the PSs are not part of<br \/>\nnormal or expected compensation or salary for any purposes, including, but not<br \/>\nlimited to, calculating any severance, resignation, termination, redundancy,<br \/>\ndismissal, end of service payments, bonuses, long-service awards, pension or<br \/>\nretirement or welfare benefits or similar payments and in no event should be<br \/>\nconsidered as compensation for, or relating in any way to, past services for the<br \/>\nCompany, the Employer or any subsidiary of the Company;<\/p>\n<p>(i) the future value of the underlying shares of Common Stock is unknown and<br \/>\ncannot be predicted with certainty;<\/p>\n<p>(j) in consideration of the award of the PSs, no claim or entitlement to<br \/>\ncompensation or damages shall arise from forfeiture of the PSs, including, but<br \/>\nnot limited to, forfeiture resulting from termination of Employee153s employment<br \/>\nwith the Company or the Employer (for any reason whatsoever and whether or not<br \/>\nin breach of local labor laws) and Employee irrevocably releases the Company and<br \/>\nthe Employer from any such claim that may arise; if, notwithstanding the<br \/>\nforegoing, any such claim is found by a court of competent jurisdiction to have<br \/>\narisen, Employee shall be deemed irrevocably to have waived Employee153s<br \/>\nentitlement to pursue such claim; and<\/p>\n<p>(k) subject to the provisions in the Plan regarding Change in Control, PSs<br \/>\nand the benefits under the Plan, if any, will not automatically transfer to<br \/>\nanother company in the case of a merger, take-over or transfer of liability.\n<\/p>\n<p>12. <u>No Advice Regarding Award<\/u>. The Company is not providing any tax,<br \/>\nlegal or financial advice, nor is the Company making any recommendations<br \/>\nregarding Employee153s participation in the Plan, or his or her acquisition or<br \/>\nsale of the underlying shares of Common Stock. Employee is hereby advised to<br \/>\nconsult with his or her own personal tax, legal and financial advisors regarding<br \/>\nhis or her participation in the Plan before taking any action related to the<br \/>\nPlan.<\/p>\n<p>13. <u>Amendment of This Agreement<\/u>. With the consent of the Employee, the<br \/>\nCommittee or CEO, as applicable, may amend this Agreement in a manner not<br \/>\ninconsistent with the Plan.<\/p>\n<p>14. <u>Subsidiary<\/u>. As used herein the term &#8220;subsidiary&#8221; shall mean any<br \/>\npresent or future corporation which would be a &#8220;subsidiary corporation&#8221; of the<br \/>\nCompany as the term is defined in Section 425 of the Internal Revenue Code of<br \/>\n1986 on the date of award.<\/p>\n<p>15. <u>Affiliate<\/u>. As used herein the term &#8220;affiliate&#8221; shall mean any<br \/>\nentity in which the Company has a significant equity interest, as determined by<br \/>\nthe Committee.<\/p>\n<\/p>\n<p align=\"center\">3<\/p>\n<hr>\n<p>16. <u>Non-engagement in Detrimental Activity Against the Company<\/u>. If an<br \/>\nEmployee or former Employee of the Company is deemed by the Committee or its<br \/>\nauthorized delegate, as applicable, in the Committee153s or such delegate153s sole<br \/>\nreasonable discretion as provided under the Plan, to have engaged in detrimental<br \/>\nactivity against the Company, any awards granted to such Employee or former<br \/>\nEmployee shall be cancelled and be of no further force or effect and any payment<br \/>\nor delivery of an award within six months prior to such detrimental activity may<br \/>\nbe rescinded. In the event of any such rescission, the Employee shall pay to the<br \/>\nCompany the amount of any gain realized or payment received as a result of the<br \/>\nrescinded exercise, payment or delivery, in such manner and on such terms and<br \/>\nconditions as may be required by the Committee or its delegate, as applicable.\n<\/p>\n<p>17. <u>Cancellation and Rescission of Award<\/u>. Without limiting the<br \/>\nforegoing Paragraph regarding non-engagement in detrimental activity against the<br \/>\nCompany, the Company may cancel any award provided hereunder if the Employee is<br \/>\nnot in compliance with all of the following conditions:<\/p>\n<p>(a) An Employee shall not render services for any organization or engage<br \/>\ndirectly or indirectly in any business which would cause the Employee to breach<br \/>\nany of the post-employment prohibitions contained in any agreement between the<br \/>\nCompany and the Employee.<\/p>\n<p>(b) An Employee shall not, without prior written authorization from the<br \/>\nCompany, disclose to anyone outside the Company, or use in other than the<br \/>\nCompany153s business, any confidential information or material, as specified in<br \/>\nany agreement between the Company and the Employee which contains<br \/>\npost-employment prohibitions, relating to the business of the Company, acquired<br \/>\nby the Employee either during or after employment with the Company.<\/p>\n<p>(c) An Employee, pursuant to any agreement between the Company and the<br \/>\nEmployee which contains post-employment prohibitions shall disclose promptly and<br \/>\nassign to the Company all right, title and interest in any invention or idea,<br \/>\npatentable or not, made or conceived by the Employee during employment with the<br \/>\nCompany, relating in any manner to the actual or anticipated business, research<br \/>\nor development work of the Company and shall do anything reasonably necessary to<br \/>\nenable the Company to secure a patent where appropriate in the United States and<br \/>\nin foreign countries.<\/p>\n<p>(d) Failure to comply with the provision of subparagraphs (a), (b) or (c) of<br \/>\nthis Paragraph 17 prior to, or during the six months after, any payment or<br \/>\ndelivery shall cause such payment or delivery to be rescinded. The Company shall<br \/>\nnotify the Employee in writing of any such rescission within two years after<br \/>\nsuch payment or delivery. Within ten days after receiving such a notice from the<br \/>\nCompany, the Employee shall pay to the Company the amount of any payment<br \/>\nreceived as a result of the rescinded payment or delivery pursuant to an award.<br \/>\nSuch payment to the Company by the Employee shall be made either in cash or by<br \/>\nreturning to the Company the number of shares of common stock that the Employee<br \/>\nreceived in connection with the rescinded payment or delivery.<\/p>\n<p>18. <u>Notices<\/u>. Notices hereunder shall be in writing and if to the<br \/>\nCompany shall be mailed to the Company at P.O. Box 4505, 45 Glover Avenue,<br \/>\n6<sup>th<\/sup> Floor, Norwalk, Connecticut 06856-4505, addressed to the<br \/>\nattention of Stock Plan Administrator, and if to the Employee shall be delivered<br \/>\npersonally or mailed to the Employee at his address as the same appears on the<br \/>\nrecords of the Company.<\/p>\n<p>19. <u>Language<\/u>. If Employee has received this Agreement or any other<br \/>\ndocument related to the Plan translated into a language other than English and<br \/>\nif the meaning of the translated version is different than the English version,<br \/>\nthe English version will control.<\/p>\n<p>20. <u>Electronic Delivery and Acceptance<\/u>. The Company may, in its sole<br \/>\ndiscretion, decide to deliver any documents related to current or future<br \/>\nparticipation in the Plan by electronic means. Employee hereby consents to<br \/>\nreceive such documents by electronic delivery and agrees to participate in the<br \/>\nPlan through an on-line or electronic system established and maintained by the<br \/>\nCompany or a third party designated by the Company.<\/p>\n<p>21. <u>Interpretation of This Agreement<\/u>. The Committee or the CEO, as<br \/>\napplicable, shall have the authority to interpret the Plan and this Agreement<br \/>\nand to take whatever administrative actions, including correction of<br \/>\nadministrative errors in the awards subject to this Agreement and in this<br \/>\nAgreement, as the Committee or the CEO in its or her sole good faith judgment<br \/>\nshall be determined to be advisable. All decisions, interpretations and<br \/>\nadministrative actions made by the Committee or the CEO hereunder or under the<br \/>\nPlan shall be binding and conclusive on the Company and the Employee. In the<br \/>\nevent there is inconsistency between the provisions of this Agreement and of the<br \/>\nPlan, the provisions of the Plan shall govern.<\/p>\n<p>22. <u>Successors and Assigns<\/u>. This Agreement shall be binding and inure<br \/>\nto the benefit of the parties hereto and the successors and assigns of the<br \/>\nCompany and to the extent provided in Paragraph 8 to the personal<br \/>\nrepresentatives, legatees and heirs of the Employee.<\/p>\n<p>23. <u>Governing Law and Venue<\/u>. The validity, construction and effect of<br \/>\nthe Agreement and any actions taken under or relating to this Agreement shall be<br \/>\ndetermined in accordance with the laws of the state of New York and applicable<br \/>\nFederal law.<\/p>\n<p>This grant is made and\/or administered in the United States. For purposes of<br \/>\nlitigating any dispute that arises under this grant or the Agreement the parties<br \/>\nhereby submit to and consent to the jurisdiction of the state of New York, agree<br \/>\nthat such litigation shall be conducted in the courts of Monroe County, New<br \/>\nYork, or the federal courts for the United States for the Western District of<br \/>\nNew York.<\/p>\n<p>24. <u>Separability<\/u>. In case any provision in the Agreement, or in any<br \/>\nother instrument referred to herein, shall become invalid, illegal or<br \/>\nunenforceable, the validity, legality and enforceability of the remaining<br \/>\nprovisions in the Agreement, or in any other instrument referred to herein,<br \/>\nshall not in any way be affected or impaired thereby.<\/p>\n<\/p>\n<p align=\"center\">4<\/p>\n<hr>\n<p>25. <u>Integration of Terms<\/u>. Except as otherwise provided in this<br \/>\nAgreement, this Agreement contains the entire agreement between the parties<br \/>\nrelating to the subject matter hereof and supersedes any and all oral statements<br \/>\nand prior writings with respect thereto.<\/p>\n<p>26. <u>Appendix for Non-U.S. Countries<\/u>. Notwithstanding any provisions in<br \/>\nthis Agreement, the PS award shall be subject to any special terms and<br \/>\nconditions set forth in any appendix to this Agreement for Employee153s country<br \/>\n(the &#8220;Appendix&#8221;). Moreover, if Employee relocates to one of the countries<br \/>\nincluded in the Appendix, the special terms and conditions for such country will<br \/>\napply to Employee, to the extent the Company determines that the application of<br \/>\nsuch terms and conditions is necessary or advisable in order to comply with<br \/>\nlocal law or facilitate the administration of the Plan. The Appendix constitutes<br \/>\npart of this Agreement.<\/p>\n<p>27. <u>Imposition of Other Requirements<\/u>. The Committee reserves the right<br \/>\nto impose other requirements on Employee153s participation in the Plan, on the PSs<br \/>\nand on any shares of Common Stock acquired under the Plan, to the extent the<br \/>\nCommittee determines it is necessary or advisable in order to comply with local<br \/>\nlaw or facilitate the administration of the Plan, and to require Employee to<br \/>\nsign any additional agreements or undertakings that may be necessary to<br \/>\naccomplish the foregoing.<\/p>\n<p>IN WITNESS WHEREOF, the Company has executed this Agreement as of the day and<br \/>\nyear set forth on the Award Summary.<\/p>\n<table width=\"40%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"5%\"><\/td>\n<td width=\"2%\" valign=\"bottom\"><\/td>\n<td width=\"93%\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" valign=\"top\">\n<p>XEROX CORPORATION<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">\n<p>By:<\/p>\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"top\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\"><\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\">\n<p>Signature<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p align=\"center\">5<\/p>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[9370],"corporate_contracts_industries":[9508],"corporate_contracts_types":[9539,9546],"class_list":["post-38483","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-xerox-corp","corporate_contracts_industries-technology__hardware","corporate_contracts_types-compensation","corporate_contracts_types-compensation__incentive"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/38483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=38483"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38483"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38483"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}