Nike 2010 Annual Report Download - page 122

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Exhibit 10.15
NIKE, INC.
FY _______ LONG−TERM INCENTIVE AWARD AGREEMENT
Pursuant to Section 6 of the Long−Term Incentive Plan (the “Plan”) of NIKE, Inc., an Oregon corporation (the “Company”), the Company grants to
<<Name>> (“Recipient”) a performance−based award, subject to the terms and conditions of this FY _______ Long−Term Incentive Award Agreement
between the Company and Recipient, including the provisions set forth in the attached Appendix for Recipients outside the U.S., if applicable (collectively,
this “Agreement”). By accepting this Agreement, Recipient agrees to all of the terms and conditions of the award.
On _________, 20__, the Compensation Committee (the “Committee”) of the Company’s Board of Directors authorized this performance−based
award to Recipient. Compensation paid pursuant to this award is intended to qualify as performance−based compensation under Section 162(m) of the
Internal Revenue Code of 1986, as amended (the “Code”).
1. Award. Subject to the terms and conditions of this Agreement, the Company shall pay to Recipient the dollar amount (the “Dollar Target Award
Payment”) determined under this Agreement based on (a) the Company’s financial performance during the _______−year period from June 1, 20__ to
May 31, 20__ (the “Performance Period”) as described in Section 2 and (b) Recipient’s continued employment during the Performance Period as described
in Section 3. Recipient’s “Dollar Target Award” for purposes of this Agreement is $<<Target>>.
2. Revenue and EPS Performance Conditions.
2.1 Subject to Section 3, the Dollar Target Award Payment to be paid to Recipient shall be determined by multiplying the Payout Factor by
the Dollar Target Award. The “Payout Factor” equals the average of the Revenue−Related Percentage Level for the Performance Period and the
EPS−Related Percentage Level for the Performance Period. The Revenue−Related Percentage Level for the Performance Period shall be determined under
the table below based on the Company’s Cumulative Revenue (as defined below) for the Performance Period. The EPS−Related Percentage Level for the
Performance Period shall be determined under the table below based on the Company’s Cumulative EPS (as defined below) for the Performance Period. For
example, if the Company’s Cumulative Revenue for the Performance Period is $_______ and the Company’s Cumulative EPS for the Performance Period is
$_______, then the Revenue−Related Percentage Level will be 110%, the EPS−Related Percentage Level will be 140%, and the Payout Factor will
therefore equal 125%.
Cumulative Revenue Revenue−Related
Percentage Level Cumulative EPS EPS−Related
Percentage Level
(in millions)
Less than $____ 0% Less than $____ 0%
$____ 50% $____ 50%