Exhibit 10.29
AMENDMENT TO RESTRICTED STOCK UNIT AGREEMENTS
Pursuant to the MetLife, Inc. 2005
Stock and Incentive Compensation Plan (the “Plan”),
MetLife, Inc. hereby amends each of your Restricted Stock Unit
Agreements (the “Agreements”) as of December 31,
2007, as follows (this “Amendment”):
1. Section 2(a) of each
Agreement is restated in its entirety as follows:
(a) Long-Term Disability . In
the event you qualify for long-term disability benefits under a
plan or arrangement offered by the Company or an Affiliate for its
Employees, each of your Units will be due and payable in the form
of Shares. Once this provision applies, no other change of status
described in this Section 2 (except the provision regarding
termination for Cause) will affect your Units, even if you
subsequently return to active service or your employment with the
Company or an Affiliate terminates other than for Cause.
2. Section 2(f) of each
Agreement is restated in its entirety as follows:
(f) Other Termination of
Employment . Unless the Committee determines otherwise, if no
other provision in this Section 2 regarding change of status
applies, including, for example, your voluntary termination of
employment, your termination without Retirement or Bridge
Eligibility, or the termination of your employment by the Company
or an Affiliate without Cause, your Units will be forfeited
immediately unless you are offered a separation agreement by the
Company or an Affiliate under a severance program. To the extent
your separation agreement becomes final, your Prorated Units will
be due and payable to you. The number of your “Prorated
Units” will be determined by dividing the number of calendar
months, beginning with the month of the Grant Date, that have ended
as of the end of the month of the termination of your employment by
thirty-six (36), multiplying the result by the number of your
Units, and rounding to the nearest whole number; provided,
however , that if the date of the termination of your
employment is prior to the first anniversary of the Grant Date ,
then the number of your Prorated Units shall be zero (0). Payment
for each of your Units will be made in cash at a value equal to the
Closing Price on the Grant Date, and shall be rounded to the
nearest one-hundred dollars ($100.00). If your separation agreement
does not become final, your Units will be forfeited.
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