3M 2015 Annual Report Download - page 133

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IfaParticipantbreachestheprovisionsofsuchParticipant’sagreementwiththeCompanyoranAffiliatepertainingtonondisclosure
ofconfidentialinformation,assignmentofrightstoinventions,competitionwiththeCompanyorpost-employmentsolicitationofthe
Company’semployeesorcustomers,andsuchagreementprovidesfortheforfeitureofAwardsgrantedunderthisPlanintheevent
ofsuchbreach,alloftheParticipant’sAwardsgrantedunderthisPlansincethedatethatsuchParticipantsignedsuchagreement
shallbeautomaticallyforfeited,notwithstandinganylanguagetothecontraryinthisPlandocument.
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ParticipationhereundershallceaseandallrightsunderthePlanwithrespecttoRestrictedStockorotherStockAwardsgrantedtoa
ParticipantwhohasbeenparticipatinginthisPlanasanonemployeememberofthe3MBoardofDirectorsareautomatically
forfeitedbytheParticipantuponthedateofterminationofhisorhermembershiponthe3MBoardofDirectorsforanyreasonother
than:(i)retirement,(ii)physicalormentaldisabilityasdeterminedbytheCommittee,or(iii)death.
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8.LimitsonAwards.
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NoParticipantshallbegrantedOptionsandStockAppreciationRightsunderthisPlanwithrespecttomorethan1,000,000sharesof
CommonStockinanycalendaryear.NoParticipantshallreceivecash,vestedsharesofCommonStockorotherpropertyasaresult
ofAwardsgrantedunderthisPlan,otherthanOptionsandStockAppreciationRights,havingavalueexceeding$30,000,000inany
calendaryear.NoParticipantwhoisanonemployeememberof3M’sBoardofDirectorsmaybegrantedAwardsunderthisPlan
havingavalue(determinedasoftheGrantDateofeachAward)exceeding$500,000inanycalendaryear.
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9.PlanAdministration.
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ThisPlanwillbeadministeredbytheCommittee,whichshallhavefullpowerandauthoritytoselecttheParticipants,interpretthe
Plan,continue,accelerateorsuspendtheexercisabilityorvestingofanAward,andadoptsuchrulesandproceduresforoperatingthe
Planasitmaydeemnecessaryorappropriate.Itspowerandauthorityshallinclude,butnotbelimitedto,makinganyamendments
toormodificationsofthePlanwhichmayberequiredornecessarytomakesuchPlancomplywiththeprovisionsofanylawsor
regulationsofanycountryorunitthereofinwhichtheCompanyoranyAffiliateoperates.Todoso,theCommitteemayestablish
differenttermsandconditionsforAwardsmadetoParticipantswholiveinoraresubjecttotaxationinoneormorecountriesother
thantheUnitedStatesinordertoaccommodatethetaxorotherrelevantlawsofsuchcountries.TheCommitteemayadoptoneor
moresupplementsorsub-plansunderthePlantoimplementthesedifferenttermsandconditions.Exceptforadjustmentsmadein
accordancewithSection11,noOptionorStockAppreciationRightgrantedunderthisPlanmayberepricedtoreducetheexerciseor
grantpriceofanyoutstandingOptionorStockAppreciationRight,normayanoutstandingOptionorStockAppreciationRight
grantedunderthisPlanbecancelledinexchangeforcash,anotherAward,oranOptionorStockAppreciationRightwithanexercise
orgrantpricethatislessthantheexerciseorgrantpriceofthecancelledOptionorStockAppreciationRight,withouttheprior
approvaloftheCompany’sstockholders.
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10.DelegationofAuthority.
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TotheextentpermittedbyDelawarelaw,theCommitteemaydelegatetoofficersoftheCompanyanyorallofitsduties,powerand
authorityunderthisPlansubjecttosuchconditionsorlimitationsastheCommitteemayestablish;provided,however,thatnoofficer
shallhaveorobtaintheauthoritytograntAwardsto(i)himselforherself,(ii)nonemployeemembersofthe3MBoardofDirectors,
or(iii)anypersonsubjecttosection16oftheSecuritiesExchangeActof1934.
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11.Adjustments.
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IntheeventofanychangeintheoutstandingCommonStockoftheCompanybyreasonofastocksplit,stockdividend,combination
orreclassificationofshares,recapitalization,mergerorsimilarevent,theCommitteeshalladjustproportionately:(a)thenumberof
sharesofCommonStock(i)availableforissuanceordeliveryunderthisPlaninaccordancewithSection4,(ii)forwhichAwards
maybegrantedtoasingleParticipantinaccordancewithSection8,and(iii)subjecttooutstandingAwardsgrantedunderthisPlan;
(b)theexercisepricesofoutstandingAwards;and(c)theappropriateFairMarketValueandotherpricedeterminationsforsuch
Awards.IntheeventofanyotherchangeaffectingtheCommonStockoranydistribution(otherthannormalcashdividends)to
holdersofCommonStock,such
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