First Data 2013 Annual Report Download - page 165
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Exhibit 10.21
FIRST DATA CORPORATION
SENIOR EXECUTIVE INCENTIVE PLAN
(As Amended and Restated Effective January 1, 2014)
1. PURPOSE OF THE PLAN. The First Data Corporation Senior Executive Incentive Plan (the “Plan”) is hereby amended and restated effective January 1,
2014 by the joint Governance, Compensation, and Nomination Committees of the Board of Directors of First Data Corporation (the “Company”) and First
Data Holdings Inc. The Plan is designed to advance the interests of the Company by encouraging the Company’s Chief Executive Officer and other senior
executive officers to create growth and strong performance for the Company, and rewarding participants based on overall Company results and their
contributions to these results.
2. DEFINITIONS. For purposes of this Plan, the following terms shall have the meanings set forth below:
2.1 “Committee” means the joint Governance, Compensation, and Nomination Committees of the Board of Directors, or any successor thereto or delegate
thereof with the authority to act on behalf of the Committee with respect to this Plan.
2.2 “Incentive Award” means an incentive compensation award paid to a Participant pursuant to the Plan.
2.3 “Participant” means the Company’s Chief Executive Officer and any executive officer of the Company who reports directly to the Company’s Chief
Executive Officer and who is identified as eligible to participate in this Plan for a given Plan Year by the Committee or who is hired, transferred, or promoted to
an eligible position during a Plan Year and is identified as eligible to participate in the Plan by the Committee.
2.4 “ Plan Year “ means a period of one year, commencing each January 1 and ending on the following December 31, or such other twelve consecutive month
period as may be established from time to time by the Company.
3. ESTABLISHMENT OF PERFORMANCE MEASURES AND DETERMINATION OF INCENTIVE AWARDS.
3.1 The payment of Incentive Awards to Participants under the Plan shall be determined in the Committee’s sole and absolute discretion.
3.2 As soon as practicable following the end of each Plan Year, the Committee shall determine the amounts of any Incentive Awards payable under the Plan.
The Committee shall authorize the payment of Incentive Awards in accordance with the terms of the Plan. The Committee shall have the sole and absolute
discretion to determine the amount of any Incentive Award payable under the Plan or to determine that no Incentive Award shall be payable to a Participant
under the Plan. Under no circumstances shall any Incentive Award be deemed earned by or payable to a Participant under this Plan with respect to any Plan
Year unless and until the Committee