Document:

Summary of Director Compensation

 Exhibit 10.47 
 Summary of Director Compensation 
 Set forth below is a summary of the compensation paid by MEMC
Electronic Materials, Inc. (the “Company”) to its outside directors. Directors that are also employees of the Company receive no additional compensation for their service as a director. 
 Fees. Outside directors receive the following fees for their services on the Board of Directors and its Committees: 
  

	 	•	 	 $45,000 annual Board of Directors cash retainer; 

  

	 	•	 	 $20,000 additional cash retainer for Chairman of the Board of Directors; 

  

	 	•	 	 $40,000 additional cash retainer for Chairman of the Audit Committee and $10,000 additional cash retainer for each member of the Audit Committee;

  

	 	•	 	 $20,000 additional cash retainer for Chairman of the Compensation Committee and $5,000 additional cash retainer for each member of the Compensation Committee;

  

	 	•	 	 $5,000 additional cash retainer for the Chairman of the Nominating and Corporate Governance Committee; and 

  

	 	•	 	 $1,000 cash for each Board of Directors’ meeting and each Committee meeting attended. 

 Equity Compensation. Equity compensation is granted to outside directors as follows: 
  

	 	•	 	 Upon their initial election or appointment to the Board of Directors, outside directors who are not affiliated with Texas Pacific Group, Leonard Green &
Partners and TCW/Crescent Mezzanine Management III LLC receive a grant of non-qualified stock options to purchase 10,000 shares of MEMC common stock at an exercise price per share equal to the fair market value per share on the date of grant. These
options vest ratably over four years. 

  

	 	•	 	 Outside directors are awarded RSUs for shares of our common stock on an annual basis (as of the date of the annual stockholder meeting each year). The RSUs vest
ratably over two years. Each year, RSUs are to be awarded in an amount such that the number of underlying shares of MEMC common stock has a total value of $100,000 on the date the award is granted. The actual number of RSUs to be awarded shall be
determined in increments of 100 RSUs such that the value of common stock underlying the RSUs is as close to $100,000 as possible. For newly elected or appointed outside directors that become directors on a date other than the date of the annual
stockholder meeting, such directors would receive RSUs for a pro rata portion of the $100,000 total value.Summary of Compensation Arrangements for Certain Named Executive Officers

 Exhibit 10.48 
 Summary of Compensation Arrangements for Certain Named Executive Officers 
 Set forth below is a
summary of the compensation paid by MEMC Electronic Materials, Inc. (the “Company”) to the executive officers to be named in the Company’s 2007 annual proxy statement who are not covered by current employment agreements, as of the
date of filing of the Company’s Annual Report on Form 10-K for the year ended December 31, 2006 (the “Form 10-K”) and are continuing as an executive officer of the Company in 2007. Each of these executive officers is an employee
at will whose compensation and employment status may be changed at any time in the discretion of the Company’s Board of Directors. 
 Base Salaries. These executive officers receive base salaries in the amounts indicated below: 
  

				
	 Name and Position
	  	2007 Base Salary
Amount
	 Kenneth H. Hannah, Senior Vice President and Chief Financial Officer
	  	$	420,000
	 Sean Hunkler, Senior Vice President, Manufacturing
	  	$	375,000
	 Shaker Sadasivam, Senior Vice President, Research and Development
	  	$	330,750
	 John A. Kauffmann, Senior Vice President, Sales and Marketing
	  	$	318,000
	 Bradley D. Kohn, Vice President, General Counsel and Corporate Secretary
	  	$	265,000

 The Compensation Committee adjusts these base salaries from time to time as the Committee deems
appropriate, generally annually. 
 Incentive Awards. These executive officers are also eligible to participate in the Company’s
incentive compensation plans as provided in the terms of such plans, including the Company’s short term incentive awards plan (which provides for cash incentive awards) and the Company’s long term incentive awards plan (e.g., the
Company’s 2001 Equity Incentive Plan). Such plans, and any forms of awards thereunder providing for material terms, are included as exhibits to the Form 10-K as appropriate. 
 Pension Plan. These executive officers are also eligible to participate in the MEMC Pension Plan on the same terms as the Company’s other
covered employees. Because they commenced employment after December 31, 2001, Mr. Hannah, Mr. Hunkler and Mr. Kohn are not covered by the MEMC Pension Plan. 
 Relocation Payments. From time to time the Company makes payments to executive officers to cover relocation expenses.Amendment to Employement and Change in Control Agreements

 EXHIBIT 10.19 
 SIGNIFICANT TERMS OF EMPLOYMENT AND CHANGE IN CONTROL AGREEMENTS 
 BY INDIVIDUAL OFFICER

 (The form of agreements was filed as an exhibit to the Form 10-Q for the period ended September 30, 2000. The list filed as part
of that exhibit has been updated to include the following Officer.) 
  

											
	 	  	Minimum
annual
base salary	  	Incentive
compensation
percentage	 	Additional
SERP
points	  	Severance
benefits
maximum
months	  	Change in
control
lump-sum
salary benefit
	 John P. Hester
	  	$175,000	  	75%	 	10 points	  	18 months	  	24 monthsAmendment No. 2 To the Assurant, Inc. 2004 Long-Term Incentive Plan

 Exhibit 10.4 
 AMENDMENT NO. 2 TO THE 
 ASSURANT, INC. 
 2004 LONG-TERM INCENTIVE PLAN 
 THIS AMENDMENT NO. 2 (this
“Amendment”) to the Assurant, Inc. 2004 Long-Term Incentive Plan, as amended, (the “Plan”) is made this 7th day of December, 2006. 
 The Compensation Committee of the Board of Directors of Assurant, Inc. (the “Company”) has determined that it is in the best interests of the Company and its stockholders to amend the definition of the term
“Fair Market Value”. 
 1. The Plan is hereby amended by deleting the definition of “Fair Market Value” in
Section 2.1, sub-section (p) of the Plan in its entirety and by substituting in lieu thereof the following: 
 “Fair Market Value”, on any day, means (i) if the Stock is listed on a securities exchange or is traded over the Nasdaq National Market, the closing sales price on such date, or (ii) if the Stock is not listed on a
securities exchange or traded over the Nasdaq National Market, the mean between the bid and offered prices as quoted by Nasdaq for such date, provided that if it is determined that the fair market value is not properly reflected by such Nasdaq
quotations, Fair Market Value will be determined by such other method as the Committee determines in good faith to be reasonable. 
 Except
as expressly amended hereby, the terms of the Plan, as previously amended, shall be and remain unchanged and the Plan as amended hereby shall remain in full force and effect. 
 IN WITNESS WHEREOF, the Company has caused this Amendment to be executed by its duly authorized representative on the day and year first above written.

  

			
	ASSURANT, INC.
		
	By:	 	  

	Name:	 	
	Title:Amended Form of CEO/Director Delegated Authority Restricted Stock Agreement

 Exhibit 10.6 
 RESTRICTED STOCK AGREEMENT 
 [20    ] Award 
 Non-transferable 
 GRANT TO 

(Name) 
 (“Grantee”)

 by Assurant, Inc. (the “Company”) of 
 (Amount) 
 shares of its common stock, $0.01 par value (the “Shares”) 
 pursuant to and subject to the provisions of the Assurant, Inc. 2004 Long-Term Incentive Plan (the “Plan”), and to the terms and conditions set forth on the
following page (the “Terms and Conditions”). 
 Unless sooner vested in accordance with the Plan or Section 4 of the Terms and
Conditions, the restrictions imposed under Section 3 of the Terms and Conditions will expire as to the following percentage of the Shares awarded hereunder, on the following respective dates: 
  

			
	 Percentage of Shares
	  	 Date of Expiration
 of Restrictions

  
 Additional conditions:
[Specify any additional vesting or other conditions] 
 IN WITNESS WHEREOF, Assurant, Inc., acting by and through its duly
authorized officers, has caused this Agreement to be executed as of the Grant Date. 
  

			
	ASSURANT, INC.
		
	By:	 	  

		 	[                    ]
		 	Chief Executive Officer
	
	Grant Date: [                    ]

  

			
	Accepted by Grantee:	 	  

		 	(Name)

 TERMS AND CONDITIONS 
 1.
Grant of Shares. Assurant, Inc. (the “Company”) hereby grants to the Grantee named on Page 1 (“Grantee”), subject to the restrictions and the other terms and conditions set forth in the Plan and in this award agreement
(this “Agreement”), the number of shares indicated on Page 1 of the Company’s $0.01 par value common stock (the “Shares”). 
 2.
Defined Terms. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Plan. 
 3.
Restrictions. The Shares are subject to each of the following restrictions. “Restricted Shares” mean those Shares that are subject to the restrictions imposed hereunder which restrictions have not then expired or terminated.
Restricted Shares may not be sold, transferred, exchanged, assigned, pledged, hypothecated or otherwise encumbered. Upon termination of Grantee’s Continuous Status as a Participant, Grantee shall forfeit all of Grantee’s right, title and
interest in and to the Restricted Shares as of the date of employment termination (after giving effect to any lapsed restrictions under Section 4), and such Restricted Shares shall revert to the Company immediately following the event of
forfeiture. The restrictions imposed under this Section shall apply to all shares of the Company’s common stock or other securities issued with respect to Restricted Shares hereunder in connection with any merger, reorganization, consolidation,
recapitalization, stock dividend or other change in corporate structure affecting the common stock of the Company. 
 4. Expiration and Termination of
Restrictions. The restrictions imposed under Section 3 will expire on the earliest to occur of the following (the period prior to such expiration being referred to herein as the “Restricted Period”): 
 (a) As to the percentages of the Shares specified on page 1, on the respective dates specified on page 1; or 
 (b) As to all of the Restricted Shares, upon a Change of Control; or 
 (c) As to a number of the Restricted Shares, upon the date of Grantee’s death, or Disability, determined by (i) multiplying the aggregate number of Shares originally subject to this Agreement as specified on
page 1 by a fraction, the numerator of which is the number of completed calendar months from the Grant Date to the date of Grantee’s death or Disability, and the denominator of which is the number of full months that otherwise would have been
required to fully vest all of the Restricted Shares originally subject to this Agreement as specified on page 1, pursuant to the vesting schedule specified on page 1 , and (ii) subtracting from such amount that number of Shares which otherwise
have become vested prior to the date of Grantee’s death, or Disability. For computing purposes, fractional shares shall be rounded to the nearest whole Share. 
 (d) In connection with the Retirement of a Participant, the Compensation Committee, or the Chief Executive officer with regard to non-Section 16 officers, may at any time, in its sole discretion, accelerate or
waive, in whole or in part, the foregoing restrictions, and in connection therewith may impose such terms and conditions as it deems necessary or advisable, including requiring that the Participant enter into a release of claims and an agreement
containing restrictive covenants. 
 5. Delivery of Shares. The Shares will be registered in the name of Grantee as of the Grant Date, will be issued
in certificated or uncertificated form, and may be held by the Company during the Restricted Period. If a certificate for Restricted Shares is issued, such certificate shall be registered in the name of Grantee and shall bear a legend in
substantially the following form (in addition to any legend required under applicable state securities laws): 
 “This certificate and the shares of
stock represented hereby are subject to the terms and conditions (including forfeiture and restrictions against transfer) contained in a Restricted Stock Agreement between the registered owner of the shares represented hereby and Assurant, Inc.
Release from such terms and conditions shall be made only in accordance with the provisions of such Agreement, copies of which are on file in the offices of Assurant, Inc.” 
 Stock certificates for the Shares, without the above legend, shall be delivered to Grantee or Grantee’s designee upon request after the expiration of the Restricted Period. If the Shares are issued in
uncertificated form, during the Restricted Period the Company shall instruct the transfer agent not to permit the transfer of the Restricted Shares until the expiration of the Restricted Period. 
 6. Voting and Dividend Rights. Grantee, as beneficial owner of the Shares, shall have full voting and dividend rights with respect to the Shares during and after
the Restricted Period. If Grantee forfeits any rights he may have under this Agreement in accordance with Section 3, Grantee shall no longer have any rights as a shareholder with respect to the Restricted Shares or any interest therein, and
Grantee shall no longer be entitled to receive dividends on such stock. In the event that for any reason Grantee shall have received dividends upon such stock after such forfeiture, Grantee shall repay to the Company any amount equal to such
dividends. 
 7. Changes in Capital Structure. The provisions of the Plan shall apply in the case of a change in the capital structure of the Company.
Without limiting the foregoing, in the event of a subdivision of the outstanding Common Stock (stock-split), a declaration of a dividend payable in Common Stock, or a combination or consolidation of the outstanding Common Stock into a lesser number
of shares, the Shares then subject to this Agreement shall automatically be adjusted proportionately. 
 8. No Right of Continued Service. Nothing in
this Agreement shall confer upon Grantee any right to continue in the service of the Company or any Affiliate. 
 9. Payment of Taxes. 
 (a) Upon issuance of the Shares hereunder, Grantee may make an election to be taxed upon such award under Section 83(b) of the Code. To effect such
election, Grantee must file an appropriate election with Internal Revenue Service within thirty (30) days after award of the Shares and otherwise in accordance with applicable Treasury Regulations. 
 (b) In accordance with such procedures as the Committee establishes, at such time that any amount related to the Shares becomes includable in
Grantee’s gross income for tax purposes (the “tax date”), the Company will withhold a number of Shares having a Fair Market Value on the date of withholding equal to the minimum amount required by law to be withheld with respect to
federal, state and local taxes of any kind (including Grantee’s FICA obligation). Alternatively, if Grantee provides prior written notice to the Company, Grantee may, no later than the tax date, pay to the Company such 

 
amounts required by law to be withheld or make other arrangements satisfactory to the Committee regarding the payment of such amounts. Such written notice
shall be directed to the Secretary of the Company or his or her designee at the address and in the form specified by the Secretary from time to time, at least 30 days prior to the tax date, unless otherwise determined by the Company in its sole
discretion. The obligations of the Company under this Agreement will be conditional on such withholding or other payment or arrangements, and the Company, and, where applicable, its Affiliates will, to the extent permitted by law, have the right to
deduct any such taxes from any payment of any kind otherwise due to Grantee. 
 10. Plan Controls. The terms contained in the Plan are incorporated
into and made a part of this Agreement, and this Agreement shall be governed by and construed in accordance with the Plan. In the event of any actual or alleged conflict between the provisions of the Plan and the provisions of this Agreement, the
provisions of the Plan shall be controlling and determinative. 
 11. Successors. This Agreement shall be binding upon any successor of the Company,
in accordance with the terms of this Agreement and the Plan. 
 12. Severability. If any one or more of the provisions contained in this Agreement are
invalid, illegal or unenforceable, the other provisions of this Agreement will be construed and enforced as if the invalid, illegal or unenforceable provision had never been included. 
 13. Notice. Notices and communications under this Agreement must be in writing and either personally delivered or sent by registered or certified United States mail, return receipt requested, postage prepaid.
Notices to the Company must be addressed to: 
 Assurant, Inc. 
 One Chase Manhattan Plaza, 41st Floor 
 New York, New York 10005 
 Attn: Secretary 
 or any other address designated by the Company in a written notice to Grantee. Notices to Grantee will be
directed to the address of Grantee then currently on file with the Company, or at any other address given by Grantee in a written notice to the Company.

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