Exhibit 10.9
Restricted Stock Unit Continuous Vesting Grant Agreement
1. This Restricted Stock Unit Annual Grant is granted to you under, and governed by the terms and conditions of, the 2022 Performance Plan of The Goodyear Tire & Rubber Company, adopted effective April 11, 2022 (as amended from time to time, the “Plan”), and this Grant Agreement. As your grant is conveyed and managed online, your online acceptance constitutes your agreement to and acceptance of all terms and conditions of the Plan and this Grant Agreement. You also agree that you have read and understand the provisions of the Plan and this Grant Agreement. Capitalized terms used but not defined in this Grant Agreement have the meanings set forth in the Plan.
2. All rights conferred upon you under the provisions of this Grant Agreement are personal to you and no assignee, transferee or other successor in interest shall acquire any rights or interests whatsoever under this Grant Agreement, which is made exclusively for the benefit of you and the Company, except by will or the laws of descent and distribution.
3. As consideration for the Units granted to you hereunder, except as otherwise provided in this Section 3 or as may be provided pursuant to Section 14 of the Plan in the event of a Change in Control, you must remain in the continuous employ of the Company or one or more of its Subsidiaries until _______, 20__ (the “Vesting Date”).
a. In the event of your death, “Retirement” (defined as termination of employment at any age after 30 or more years, or at age 55 or older with at least 10 years, of continuous service with the Company and its Subsidiaries) or “Disability” (defined as termination of employment while receiving benefits for a period of not less than one year under a long-term disability income plan provided by a government or sponsored by the Company or one of its Subsidiaries) prior to the Vesting Date and on any date which is more than six (6) months after the Date of Grant of the granted Units, then, except as otherwise provided in Sections 3(b) or (c) below, you will receive a prorated number of Units equal to the product of (i) the number of Units subject to this Grant Agreement, multiplied by (ii) a fraction (x) the numerator of which is the number of days during the period that commences on (and includes) the Date of Grant and ends on (and includes) the date of your termination of employment, and (y) the denominator of which is the number of days during the period that commences on (and includes) the Date of Grant and ends on (and includes) the day immediately prior to the Vesting Date.
b. In the event of your death, Retirement or Disability prior to the Vesting Date and on or after December 31, ____, the Units granted to you hereunder will be deemed to be fully vested, which Units will be payable as provided in Section 5.
c. In the event of a Change in Control while this grant is outstanding, the Units shall be subject to the applicable provisions of Section 14 of the Plan, and in the event that you incur a Severance (as defined in the Plan, which generally includes certain terminations of employment within the two-year period commencing on a Change in Control) prior to the Vesting Date, the Units shall be deemed to have been fully earned.
d. Nothing contained herein shall restrict the right of the Company or any of its Subsidiaries or affiliates to terminate your employment at any time, with or without cause.
4. In the event your employment with the Company and its Subsidiaries is terminated for any reason whatsoever (whether voluntarily or involuntarily) and within 18 months after such termination date you accept employment with a competitor of, or otherwise engage in competition with, the Company, the Committee, in its sole discretion, may require you to return, or (if not received) to forfeit, to the Company the payments made (or to be made) hereunder which you have received (or will receive) at any time on or after the date which is six months prior to the date of termination of your employment with the Company.