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Xerox Corp – ‘10-Q’ for 6/30/18 – ‘EX-10.7’

On:  Thursday, 8/2/18, at 4:49pm ET   ·   For:  6/30/18   ·   Accession #:  108772-18-39   ·   File #:  1-04471

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  As Of               Filer                 Filing    For·On·As Docs:Size

 8/02/18  Xerox Corp                        10-Q        6/30/18   92:16M

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML   1.15M 
 2: EX-3.1(A)   Articles of Incorporation/Organization or Bylaws    HTML     37K 
 3: EX-3.1(B)   Articles of Incorporation/Organization or Bylaws    HTML    183K 
 4: EX-10.5     Material Contract                                   HTML     26K 
 5: EX-10.6     Material Contract                                   HTML     43K 
 6: EX-10.7     Material Contract                                   HTML     35K 
 7: EX-10.8     Material Contract                                   HTML     59K 
 8: EX-12       Statement re: Computation of Ratios                 HTML     58K 
 9: EX-31.A     Certification -- §302 - SOA'02                      HTML     31K 
10: EX-31.B     Certification -- §302 - SOA'02                      HTML     31K 
11: EX-32       Certification -- §906 - SOA'02                      HTML     28K 
18: R1          Document And Entity Information                     HTML     42K 
19: R2          Condensed Consolidated Statements of Income         HTML    121K 
20: R3          Condensed Consolidated Statements of Comprehensive  HTML     66K 
                (Loss) Income                                                    
21: R4          Condensed Consolidated Balance Sheets               HTML    127K 
22: R5          Condensed Consolidated Statements of Cash Flows     HTML    135K 
23: R6          Basis of Presentation Basis of Presentation         HTML     28K 
24: R7          Adoption of New Revenue Recognition Standard        HTML    136K 
25: R8          Recent Accounting Pronouncements                    HTML     87K 
26: R9          Divestitures                                        HTML     34K 
27: R10         Supplementary Financial Information Supplementary   HTML     91K 
                Financial Information                                            
28: R11         Accounts Receivable, Net                            HTML    430K 
29: R12         Finance Receivables, Net                            HTML    430K 
30: R13         Inventories                                         HTML     34K 
31: R14         Investment in Affiliates, at Equity                 HTML     74K 
32: R15         Restructuring Programs                              HTML     79K 
33: R16         Debt                                                HTML     38K 
34: R17         Financial Instruments                               HTML    118K 
35: R18         Fair Value of Financial Assets and Liabilities      HTML     63K 
36: R19         Employee Benefit Plans                              HTML    189K 
37: R20         Shareholders' Equity                                HTML    163K 
38: R21         Other Comprehensive (Loss) Income                   HTML    144K 
39: R22         Earnings per Share                                  HTML    126K 
40: R23         Contingencies and Litigation                        HTML     61K 
41: R24         Fuji Xerox Transaction and Recent Developments      HTML     35K 
42: R25         Subsequent Event Subsequent Event                   HTML     27K 
43: R26         Supplementary Financial Information Supplementary   HTML     29K 
                Financial Information (Policy)                                   
44: R27         Adoption of New Revenue Recognition Standard        HTML    144K 
                (Tables)                                                         
45: R28         Recent Accounting Pronouncements Recent Accounting  HTML     73K 
                Pronouncements (Tables)                                          
46: R29         Divestitures (Tables)                               HTML     37K 
47: R30         Supplementary Financial Information (Tables)        HTML     95K 
48: R31         Accounts Receivable, Net (Tables)                   HTML     54K 
49: R32         Finance Receivables, Net (Tables)                   HTML    399K 
50: R33         Inventories (Tables)                                HTML     35K 
51: R34         Investment in Affiliates, at Equity (Tables)        HTML     71K 
52: R35         Restructuring Programs (Tables)                     HTML     80K 
53: R36         Debt (Tables)                                       HTML     37K 
54: R37         Financial Instruments (Tables)                      HTML    114K 
55: R38         Fair Value of Financial Assets and Liabilities      HTML     66K 
                (Tables)                                                         
56: R39         Employee Benefit Plans (Tables)                     HTML    191K 
57: R40         Shareholders' Equity (Tables)                       HTML    113K 
58: R41         Shareholders' Equity Share-Based Compensation       HTML     68K 
                (Tables)                                                         
59: R42         Other Comprehensive (Loss) Income (Tables)          HTML    146K 
60: R43         Earnings per Share (Tables)                         HTML    126K 
61: R44         Adoption of New Revenue Recognition Standard -      HTML     72K 
                Additional Information (Details)                                 
62: R45         Adoption of New Revenue Recognition Standard -      HTML     42K 
                Impacts of Adopting ASC Topic 606 (Details)                      
63: R46         Adoption of New Revenue Recognition Standard -      HTML     68K 
                Disaggregation of Revenue (Details)                              
64: R47         Recent Accounting Pronouncements (Details)          HTML     73K 
65: R48         Divestitures (Details)                              HTML     51K 
66: R49         Supplementary Financial Information (Details)       HTML     88K 
67: R50         Accounts Receivable, Net (Details)                  HTML     52K 
68: R51         Finance Receivables, Net (Details)                  HTML     60K 
69: R52         Finance Receivables, Net - Credit Quality           HTML    159K 
                Indicators (Details)                                             
70: R53         Finance Receivables, Net - Aging (Details)          HTML    212K 
71: R54         Inventories (Details)                               HTML     35K 
72: R55         Investment in Affiliates, at Equity (Details)       HTML     70K 
73: R56         Restructuring Programs (Details)                    HTML     78K 
74: R57         Debt - Interest Income and Expense (Details)        HTML     29K 
75: R58         Financial Instruments - Fair Value Hedges           HTML     44K 
                (Details)                                                        
76: R59         Financial Instruments - Summary of Derivative       HTML     60K 
                Instruments Fair Value (Details)                                 
77: R60         Financial Instruments - Summary of Derivative       HTML     60K 
                Instruments Gain (Losses) (Details)                              
78: R61         Fair Value of Financial Assets and Liabilities -    HTML     55K 
                Recurring (Details)                                              
79: R62         Fair Value of Financial Assets and Liabilities -    HTML     41K 
                Nonrecurring (Details)                                           
80: R63         Employee Benefit Plans (Details)                    HTML    128K 
81: R64         Shareholders' Equity (Details)                      HTML    117K 
82: R65         Shareholders' Equity Share-Based Compensation       HTML    113K 
                (Details)                                                        
83: R66         Other Comprehensive (Loss) Income (Details)         HTML    128K 
84: R67         Earnings per Share - Reconciliation (Details)       HTML    102K 
85: R68         Earnings per Share - Anti Dilutive Securities       HTML     39K 
                (Details)                                                        
86: R69         Contingencies and Litigation (Details)              HTML     51K 
87: R70         Contingencies and Litigation - Other Contingencies  HTML     27K 
                (Details)                                                        
88: R71         Fuji Xerox Transaction and Recent Developments      HTML     44K 
                (Details)                                                        
89: R72         Subsequent Event (Details)                          HTML     29K 
91: XML         IDEA XML File -- Filing Summary                      XML    157K 
90: EXCEL       IDEA Workbook of Financial Reports                  XLSX    122K 
12: EX-101.INS  XBRL Instance -- xrx-20180630                        XML   6.42M 
14: EX-101.CAL  XBRL Calculations -- xrx-20180630_cal                XML    295K 
15: EX-101.DEF  XBRL Definitions -- xrx-20180630_def                 XML    858K 
16: EX-101.LAB  XBRL Labels -- xrx-20180630_lab                      XML   2.13M 
17: EX-101.PRE  XBRL Presentations -- xrx-20180630_pre               XML   1.17M 
13: EX-101.SCH  XBRL Schema -- xrx-20180630                          XSD    212K 
92: ZIP         XBRL Zipped Folder -- 0000108772-18-000039-xbrl      Zip    380K

‘EX-10.7’   —   Material Contract

This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]

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  Exhibit  

EXHIBIT 10.7

AMENDMENT TO
THE OPTION AND PERFORMANCE SHARE/RESTRICTED STOCK UNIT
AWARD AGREEMENTS ISSUED TO JOHN VISENTIN

WHEREAS, in accordance with the terms of the Offer Letter dated May 14, 2018 (the
"Offer Letter"), between Xerox Corporation (the "Company") and Giovanni (John) Visentin (the "Executive"), on May 15, 2018 (the "Grant Date") the Company granted annual long-term incentive awards to the Executive under the Xerox Corporation 2004 Performance Incentive Plan (as amended and/or restated through the Grant Date, the "Plan") consisting of options, restricted stock units and performance share units as follows:
(i)
an award of 269,314 options (the “Options”) to purchase shares of the Company's common stock, $1.00 par value (the “Common Stock”) at a purchase price of $28.51 per share, the closing price of the Common Stock on the Grant Date, pursuant to that certain award agreement and award summary, dated May 15, 2018 (together, the “Option Agreement”); and
(ii)
an award of 167,164 performance share units (the “PSUs”) and 87,689 restricted stock units (the “RSUs”) pursuant to that certain award agreement and award summary, dated May 15, 2018 (together, the “PSU/RSU Agreement”);
WHEREAS, the Offer Letter provides that in the event of the Executive's voluntary termination of employment for “Good Reason” or the Executive's involuntary termination of employment by the Company without “Cause,” in either case prior to a “Change in Control” (Good Reason, Cause and Change in Control, each as defined in the Offer Letter), any then-outstanding long term incentive awards that would have otherwise vested during the period of 24 months following such termination of employment the (“Severance Period”) would accelerate and become immediately vested upon such termination, including vesting of performance shares at target (the “Severance Vesting Provisions”); and
WHEREAS, the parties intend that the Severance Vesting Provisions apply with equal effect to the Options, RSUs and PSUs, notwithstanding any contrary provisions in the Plan, or in the Option Agreement or PSU/RSU Agreement, respectively.
NOW THEREFORE, to conform with the terms of the Offer Letter and to avoid any uncertainty or confusion, the parties now desire to enter into this Amendment (this “Amendment”) to amend each of the Option Agreement and the PSU/RSU Agreement to incorporate the Severance Vesting Provisions as set forth in the Offer Letter.
1.
Notwithstanding any contrary provision in the Plan, the Option Agreement and the PSU/RSU Agreement, as applicable, in the event that (i) the Executive voluntarily terminates his employment for Good Reason prior to the occurrence of a Change in Control, or (ii) the Company involuntarily terminates the Executive's employment without Cause prior to the occurrence of a Change in Control, the number of the Executive's outstanding Options, RSUs and PSUs, as applicable, that would have otherwise become vested during the twenty-four (24) month period following such


termination shall become immediately vested upon such termination, with any PSUs deemed earned at the target performance level.
2.
Notwithstanding any contrary provision in the Plan, the Option Agreement or the
PSU/RSU Agreement, as applicable, the provisions of this Amendment shall control.
3.
Except as set forth in this Amendment, the Option Agreement and PSU/RSU Agreement, as applicable, shall remain in full force and effect.
IN WITNESS WHEREOF, the Company and the Executive have executed this Amendment on the date set forth below.
XEROX CORPORATION
 
 
 
By:
 
/s/ Darrell Ford
 
 
 
Title:
 
Chief Human Resources Officer
 
 
 
Date:
 
June 1, 2018

GIOVANNI VISENTIN
 
 
 
By:
 
/s/ Giovanni Visentin
 
 
 
Date:
 
June 1, 2018



Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:8/2/18
For Period end:6/30/18
6/1/18
5/15/184,  8-K,  SC 13D/A,  SD
5/14/18
 List all Filings 

4 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/23/24  Xerox Holdings Corp.              10-K       12/31/23  195:41M
 2/23/23  Xerox Holdings Corp.              10-K       12/31/22  191:38M
 2/23/22  Xerox Holdings Corp.              10-K       12/31/21  190:35M
 2/25/21  Xerox Holdings Corp.              10-K       12/31/20  164:33M
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Filing Submission 0000108772-18-000039   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
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