3M 2015 Annual Report Download - page 125
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Please find page 125 of the 2015 3M annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.EXHIBIT10.1
(Includingamendments
throughFebruary2,2016)
3M2008LONG-TERMINCENTIVEPLAN
1.Purposes.
Thepurposesofthisplanaretohelp3Mattract,retainandmotivateoutstandingemployeestoincreaseshareholdervalueby
contributingtothelong-termgrowthandsuccessofitsbusiness;tomorecloselyalignthefinancialinterestsoftheseemployeeswith
thoseof3M’sothershareholdersbylinkingasignificantportionoftheircompensationtotheperformanceoftheCompanyandits
stockprice;toencourageemployeestoacquireanequitystakeintheCompany;tohelp3Mattractandretainwell-qualified
individualstoserveasnonemployeemembersofitsBoardofDirectors;andtopromotethealignmentofinterestsofthese
nonemployeedirectorswiththoseof3M’sothershareholdersbyprovidingalloraportionoftheircompensationforservingas
directorsintheformof3Mcommonstock.
Thisplanisintendedtoreplaceandsucceedthe2005ManagementStockOwnershipProgram,the3MPerformanceUnitPlan,and
the1992DirectorsStockOwnershipProgram.
2.Definitions.
(a)“Affiliate”meansanyentitythatisdirectlyorindirectlycontrolledbytheCompanyorinwhichtheCompanyhasa
significantequityinterest,asdeterminedbytheCommittee.
(b)“Award”meansanyIncentiveStockOption,NonqualifiedStockOption,ProgressiveStockOption,StockAppreciation
Right,RestrictedStock,RestrictedStockUnit,PerformanceUnit,PerformanceShareorotherStockAwardgrantedtoa
ParticipantunderthisPlan.
(c)“Code”meanstheInternalRevenueCodeof1986,asamended.
(d)“Committee”meanstheCompensationCommitteeof3M’sBoardofDirectors.
(e)“CommonStock”meansthecommonstockof3MCompanywithaparvalueof$0.01pershare.
(f)“Company”means3MCompany,aDelawarecorporation.
(g)“DisqualifyingTermination”meansaterminationofaParticipant’semploymentwiththeCompanyoranAffiliatedueto
(i)amaterialviolationofanypolicyoftheCompanyorsuchAffiliate,including,withoutlimitation,anyoftheCompany’s
BusinessConductPolicies,or(ii)embezzlementfromortheftofpropertybelongingtotheCompanyorsuchAffiliate.
(h)“DividendEquivalents”means,onanydividendrecorddate,thatamountofcashorsharesequalinvaluetothedividend
payableonsharesofCommonStockasdeclaredby3M’sBoardofDirectorswithrespecttosuchdividendrecorddate.
(i)“FairMarketValue”meanstheclosingpriceforashareofCommonStockasreportedontheNewYorkStockExchange
CompositeTransactions.
(j)“FullValueAward”meansanyAwarddenominatedorpaidinsharesofCommonStockotherthananOptionorStock
AppreciationRight.
(k)“GrantDate”meanstheeffectivedateofanAwardgrantedtoaParticipantunderthisPlan.
(l)“IncentiveStockOption”meansanOptiongrantedunderthisPlanwhichsatisfiestherequirementsofsection422ofthe
CodeandissodesignatedinthewrittenorelectronicdocumentsevidencingsuchOption.