Kraft 2010 Annual Report Download - page 133
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ARTICLE IV.
SECTION 162(M) OF THE CODE
Section 4.1 – Qualified Performance-Based Compensation. The Committee, in its discretion, may determine whether an LTIP Award is intended
to qualify as Qualified Performance-Based Compensation, and may take such actions as it may deem necessary to ensure that such LTIP Award will so
qualify. Any such LTIP Award shall be subject to any additional limitations set forth in Section 162(m) of the Code (including any amendment to
Section 162(m) of the Code) and any Treasury Regulations or rulings issued thereunder that are requirements for qualifications as Qualified Performance-
Based Compensation, and the LTI Plan shall be deemed amended to the extent necessary to conform to such requirements.
Section 4.2 – Performance Goals.
(a) The Committee may, in its discretion, establish the specific Performance Goal or Goals under Section 2.2 hereof that must be achieved in
order for a Participant to become eligible to receive an LTIP Award Cash Payout or LTIP Award Share Payout (including any specific adjustments to be made
under Section 2.3 hereof). The Performance Goals (including any adjustments resulting in an increase to the amount payable under the LTIP Award) shall be
established in writing by the Committee; provided, however, that the achievement of such Performance Goals shall be substantially uncertain at the time such
Performance Goals are established in writing.
(b) With respect to any LTIP Award that is intended to constitute Qualified Performance-Based Compensation, the applicable Performance Goals
described in Section 2.2 hereof (including any adjustments to be made under Section 2.3 hereof) shall be established in writing no later than the 90th day
following the commencement of the Performance Cycle to which the Performance Goals relate; provided, however, that in no event shall the Performance
Goals be established after 25% of the Performance Cycle has elapsed.
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