Document:

Director's Common Stock Plan

Exhibit 10.1 
 
PPG INDUSTRIES, INC. 
DIRECTORS’ COMMON STOCK PLAN 
 

	1.	 	PURPOSE. The purpose of this Plan is to align the financial interests of the Company’s shareholders with those of its Non-Employee Directors by providing
such Directors with compensation in the form of Company Common Stock. 

 

	2.	 	DEFINITIONS. 

 
“Account” means the account maintained for each Non-Employee Director to which Common Stock Equivalents and Dividend Equivalents
are credited. 
 
“Annual Contribution”
means the Common Stock Equivalents credited to an Account each year under Section 4.1. 
 
“Beneficiary” means the person or entity designated by the Participant or the Participant’s legal representative as provided under Section 9. 
 
“Board” means the Board of Directors of the
Company. 
 
“Change in Control” has the
same meaning as given to that term in the PPG Industries, Inc. Deferred Compensation Plan for Directors, as such plan may be amended from time to time. 
 
“Committee” means the Officers-Directors Compensation Committee of the Board. 
 
“Common Stock” means the common stock, par value
$1.66 2/3 per share, of the Company. 
 
“Common Stock Equivalent” means a hypothetical share of Common Stock. 
 
“Company” means PPG Industries, Inc. 
 
“Dividend Equivalent” means an additional number of Common Stock Equivalents the Company shall credit to each Account as of each dividend payment date declared with respect to the 

	 	 
Company’s Common Stock. The additional number of Common Stock Equivalents to be credited to each Account shall be equal to:

 

	 	(a)	 	the product of (i) the dividend per share of the Common Stock which is payable as of the dividend payment date, multiplied by (ii) the number of whole Common Stock
Equivalents credited to the Account as of the applicable dividend record date; 

 
DIVIDED BY 
 

	 	(b)	 	the closing price of a share of the Common Stock on the dividend payment date (or if such stock was not traded on that date, on the next preceding date on which it
was traded), as reported in the New York Stock Exchange Composite Transactions. 

 
“Non-Employee Director” means a director of the Company who is not a present or former employee of the Company or any of its subsidiaries. 
 
“Participant” means a Non-Employee Director who has
become eligible to receive benefits under the Plan and who has resigned or retired or is otherwise no longer an active Director of the Company as of January 1, 2003. 
 
“Plan” means the PPG Industries, Inc. Directors’ Common Stock Plan. 
 
“Retainer” means the base annual retainer fee paid
to each Non-Employee Director by the Company. It does not include committee retainer fees, meeting attendance fees, committee chairperson’s retainer fees or any other compensation other than the base annual retainer fee. 
 
“Service” means the period of time a Non-Employee
Director serves on the Board. 
 

	3.	 	EFFECTIVE DATE. This Plan shall be effective on and after January 1, 1988. 

 

	4.	 	CREDITING ACCOUNTS. 

 

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	4.1	 	Each year on the day following the Annual Meeting of Shareholders of the Company, the Company shall credit the Account of each Non-Employee Director who serves on
the Board on that day with the number of Common Stock Equivalents determined by dividing one-half of such Director’s Retainer by the average closing price of the Common Stock in the New York Stock Exchange Composite Transactions during the 5
days for which such price is available immediately preceding such day of crediting. The Account of any person who ceases to be a Director prior to April 16, 1999, shall be credited with no more than 10 such Annual Contributions and the total number
of such Annual Contributions made to his or her Account under this Section 4.1 plus the number which is multiplied by $10,000 to determine the amount credited to the Account under Section 4.2 will not exceed 10. Any Non-Employee Director who is a
Director of the Company on or after April 16, 1999 and whose total number of Annual Contributions was limited to 10 under the Plan in effect prior to April 16, 1999, shall have credited to his or her Account such additional Annual Contributions and
Dividend Equivalents as are necessary so that such Account is credited with the number of Common Stock Equivalents it would have had credited if such limitation had never existed. 

 

	4.2	 	On the day following the 1988 Annual Meeting of Shareholders of the Company, the Company shall credit the Account of each Non-Employee Director who is age 61 or
older on that date with the number of Common Stock Equivalents determined by (1) multiplying $10,000 times his or her number of full fiscal years of Service, but such number of full fiscal years of Service shall not exceed the number determined by
subtracting 60 from the Non-Employee Director’s age on the day immediately following the 1988 Annual Meeting of Shareholders and (2) then dividing that amount by the average closing price of the Common Stock in the New York Stock Exchange
Composite Transactions during the 5 days for which such price is available immediately preceding such day. 

 

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	5.	 	PAYMENTS OF BENEFITS. 

 

	5.1	 	Payments from the Account will be made in the form of Common Stock, provided that payment with respect to any partial shares of Common Stock shall be made in the
form of cash. However, payments from the Account of any Participant who ceased to be a director of the Company before August 15, 1996 shall continue to be paid in the manner provided by the Plan as effective on August 15, 1996.

 

	5.2	 	Subject to Section 5.4 and Section 5.5, a Participant may elect to have the amount deferred paid in from one to 15 annual installments after he or she shall cease to
be a director of the Company. 

 
Such installment(s) shall commence upon or following 
 

	 	(i)	 	a specified date; 

	 	(ii)	 	an event certain; 

	 	(iii)	 	the earlier of a specified date or an event certain. 

 
Installments shall continue to be payable as soon as practicable after the first day of January of each year thereafter. 
 
Subject to Sections 5.4 and 5.5, payment of deferred amounts
shall commence no later than January of the first calendar year which is the later of: 
 

	 	(i)	 	the year following attainment of age seventy (or such other age as may supersede the age referred to in Section 403(f)(3) of Title 42 United States Code); or

 

	 	(ii)	 	the year following such Participant’s retirement. 

 
The number of shares of Common Stock paid in each installment shall be equal to the whole number obtained by dividing the number of Common
Stock Equivalents then credited to the Participant’s Account by the number of unpaid installments. Common Stock Equivalents with respect to which payment has not yet occurred shall continue to be 
 

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credited with Dividend Equivalents until paid. However, no installment paid from the Account may be in an amount less than 20 shares of
Common Stock, and, to the extent necessary, installments shall be accelerated to provide for such minimum installments. As of the date on which the last payment of benefits is made to a Participant from the Account, the Company shall pay the
Participant, in cash, an amount equal to the value of any remaining fractional Common Stock Equivalent based on the closing price of the Common Stock on the New York Stock Exchange Composite Transactions on the last date such price is available
prior to the payment date. 
 

	5.3	 	Death or Disability 

 

	 	(i)	 	Subject to Section 7, in the event of the death or disability of a Participant either while serving as a director of the Company or prior to the commencement of any
payments hereunder, any amount due under the Plan shall be paid in a lump sum to the Participant’s beneficiary, or in the case of disability, to the Participant, as soon as practicable after the death or disability. 

 

	 	(ii)	 	Subject to Section 7, in the event of the death or disability of a Participant on or after the commencement of installment payments, in accordance with Section 5.2,
payments shall continue to paid to the Participant’s beneficiary, or in the case of disability, to the Participant, in accordance with the election made by the Participant in accordance with Section 5.2; provided, however, that the Secretary of
the Committee shall have the power to accelerate the payment of any installment(s) because of hardship or other circumstances deemed by him, in his discretion, to warrant such acceleration. 

 

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	5.4	 	Payment Elections 

 
Subject to Section 5.6, a Participant may elect the number and the date or event for the commencement of installment payments in
accordance with the following: 
 

	 	(i)	 	Such elections must be made at least six months and ten days prior to the first payment date; and 

 

	 	(ii)	 	In all cases, the elections must be made in the calendar year preceding the first payment date. 

 

	5.5	 	Notwithstanding any other provision of this Plan, the first installment to a Participant out of the Account shall not be paid until six months and ten days after the
Participant shall cease to be a director of the Company. 

 

	5.6	 	Notwithstanding any other provision of this Plan, any Participant who, pursuant to any income tax laws to which he or she is subject, would be immediately taxed on
any amounts credited under the Plan may not elect the number and the date or event for the commencement of payments under the Plan. Instead, the payment of all benefits to such Participant (including any Dividend Equivalents from the Plan) shall
occur as a lump sum payment on the first business day which is 6 months and 10 days after the Participant’s last day as a member of the Board. In the event of such Participant’s death prior to receipt of the benefits, the
Participant’s Beneficiary shall be paid the benefits on the first business day which is 6 months and 10 days after the Participant’s last day as a member of the Board. 

 

	6.	 	CHANGES IN STOCK. In the event of any change in the outstanding shares of the Common Stock, or in the number thereof, by reason of any stock dividend or
split, recapitalization, merger, consolidation, exchange of shares or other similar change, a corresponding change will be made in the number of Common Stock Equivalents and Dividend Equivalents, if any, credited to each Account, unless the
Committee determines otherwise. 

 

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	7.	 	ACCELERATION. The Committee, in its sole discretion, may accelerate the payment of benefits hereunder to any Participant or his or her Beneficiary for reasons
of changes in tax laws or in the event of a Change in Control of the Company; provided that no payment of benefits may be accelerated hereunder to any Participant or his or her Beneficiary if such Participant was a director of the Company on or
after November 1, 1990. 

 
An
exception is provided for any Non-Employee Director if any income tax laws to which he or she is subject would cause him/her to be immediately taxed on amounts credited under the Plan. Under this exception, the requirement that age 70 be attained
before a Non-Employee Director becomes a Participant is automatically waived by the Committee. Additionally, under this exception, the payment of all benefits under the Plan shall occur on the first business day which is 6 months and 10 days after
the earlier of a Participant’s resignation from the Board or death. In the event of such Non-Employee Director’s death, either while still an active member of the Board or after resignation from the Board but before receipt of payment from
the Plan, payment shall be made to the Participant’s Beneficiary on the above referenced date. 
 

	8.	 	CHANGE IN CONTROL. Upon, or in reasonable anticipation of, a Change in Control (as defined above), the Company shall immediately make a payment in cash to a
trustee on such terms as the Senior Vice President, Human Resources, and Administration and the Senior Vice President, Finance, or either of them, shall deem appropriate (including such terms as are appropriate to cause such payment, if possible,
not to be a taxable event to Participants) of a sufficient amount to insure that Participants receive the payment of all amounts as contemplated under the Plan. 

 

	9.	 	GENERAL PROVISIONS. The entire cost of benefits and administrative expenses for this Plan shall be paid by the Company. This Plan is purely voluntary on the
part of the Company. The Company, by action of the Board or, except as limited by the Company’s bylaws, the Committee, may amend, suspend or terminate this Plan in whole or part at any time, but no such amendment, suspension or termination
shall adversely affect the rights of any Non-Employee Director or Beneficiary of a deceased Non-Employee Director with respect to Common Stock 

 

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Equivalents and Dividend Equivalents credited prior to such amendment, suspension or termination or Dividend Equivalents which would
otherwise have been credited in the future with respect to Common Stock Equivalents credited prior to such amendment, suspension or termination. 
 
No rights under the Plan may be transferred or assigned except that a Participant may designate, in writing filed with the Secretary of
the Company, his spouse or children, a trustee or his or her executor or executrix as Beneficiary to receive any unpaid amounts under the Plan after the death of the Participant. In the absence of any such designation or in the event that the
designated person or entity shall not be in existence at the time a payment under the Plan comes due, the Beneficiary of the Participant shall be the Participant’s legal representative 
 
As Amended February 20, 2002 
 

8Challenge 2000 Stock Plan

Exhibit 10.2 
 
PPG INDUSTRIES, INC. 
CHALLENGE 2000 STOCK PLAN 
 

	1.	 	Purpose 

 
The purpose of the Plan is to promote the attainment of the Company’s Challenge 2000 goals by awarding Options and Stock Appreciation
Rights to Employees by which Employees may benefit from the increase in the value of the Common Stock of the Company which is expected to result from attaining such goals. 
 

	2.	 	Definitions 

 
(a) “Award” means any Option or Stock Appreciation Right granted under the Plan. 
 
(b) “Award Term” means the period during which an
Option or a Stock Appreciation Right may be exercised. 
 
(c) “Board” means the Board of Directors of the Company. 
 
(d) “Code” means the Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated thereunder. 
 
(e) “Committee” means the Compensation and Employment Benefits Committee of the Company or any
successor thereto. 
 
(f) “Common Stock”
means the Common Stock of the Company. 
 
(g)
“Company” means PPG Industries, Inc. 
 
(h) “Director” means any director of the Company. 
 
(i) “Eligible Person” means any Employee who is not an Insider. 
 
(j) “Employee” means any person (including any officer) employed by the Company or any of its Subsidiaries. 
 
(k) “Exercise Price” means the Fair Market Value of
a share of Common Stock on the Grant Date. 

 
(l) “Fair
Market Value” of a share of Common Stock means the closing sale price reported for any applicable date on the New York Stock Exchange-Composite Tape or, if there is no sale on such date, for the nearest preceding date upon which such a sale
took place. 
 
(m) “Grant Date” means the
date as of which an Option or a Stock Appreciation Right is granted, unless another date is specified by the Board or the Committee. 
 
(n) “Insider” means an officer of the Company or a Director subject to Section 16 of the Securities Exchange Act of 1934.

 
(o) “Nonqualified Option” means an
Option which does not qualify as an “incentive stock option” as defined in Section 422 of the Code. 
 
(p) “Option” means an option granted hereunder to purchase a specified number of shares of Common Stock. 
 
(q) “Participant” means any Eligible Person who has
received an Award. 
 
(r) “Plan” means
the PPG Industries, Inc. Challenge 2000 Stock Plan, as set forth herein and as amended from time to time. 
 
(s) Stock Appreciation Right” means an Award to benefit from the appreciation of Common Stock granted pursuant to the provisions of
Section 5 of the Plan. 
 
(t)
“Subsidiary” means any corporation fifty percent (50%) or more of the outstanding voting stock or voting power of which is owned, directly or indirectly, by the Company and any partnership or other entity in which the Company has a fifty
percent (50%) or more ownership interest. 
 

	3.	 	Administration 

 
The Board and the Committee shall both have full power and authority pursuant and subject to the provisions of the Plan: (1) to determine
from time to time which Eligible Persons shall be granted Awards; (2) to determine the number of shares of Common Stock subject to each Award, the Award Term, and the terms and conditions upon 
 

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which Awards may be exercised and in the case of an Option Award, the form of payment of the Exercise Price,; (3) to construe and interpret
the Plan, to establish, amend and revoke rules and regulations relating to the Plan, and to determine all questions or controversies arising in the administration or operation of the Plan; and (4) generally, to exercise such powers and take such
actions as the Board or the Committee may deem necessary or advisable to administer or implement the Plan. Any determination or decision made or action taken by the Board or the Committee in connection with the Plan shall be final, conclusive and
binding on all persons, including the Company, its shareholders and Participants. 
 

	4.	 	Awards 

 
Awards under the Plan may be Options or Stock Appreciation Rights (or any combination thereof). 
 

	5.	 	Options 

 
(a) Options to purchase a specified number of shares of Common Stock at a specified price may be granted from time to time to Eligible
Persons. Options granted hereunder may be Nonqualified Options only. 
 
(b) The Exercise Price of each Option shall the Fair Market Value of a share of Common Stock on the Grant Date. The Exercise Price may be paid in such form as the Board or the Committee may specify. 
 
(c) Options may be exercised at such times and in such manner
as shall be prescribed by the Board or the Committee, except that no Option shall be exercisable under any circumstances more than ten (10) years from the Grant Date. 
 

	6.	 	Stock Appreciation Rights 

 
(a) A Stock Appreciation Right is an Award entitling a Participant to receive an amount equal to the excess of the Fair Market Value of a
share of Common Stock on the date of exercise over the Exercise Price, multiplied by the number of shares of Common Stock with respect to which the Stock Appreciation Right shall have been exercised. 
 
(b) A Stock Appreciation Right may be exercised by a
Participant at such times and in such manner as shall be prescribed by the Board or 
 

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the Committee, except that no Stock Appreciation Right shall be exercisable under any circumstances more than ten(10) years from the Grant
Date. 
 
(c) Payment to a Participant upon exercise
of a Stock Appreciation Right may be made in cash or in shares of Common Stock, as the Board or the Committee shall determine. 
 

	7.	 	Number of Shares Available for Issuance and Subject to Awards 

 
(a) The maximum number of shares of Common Stock which may be issued under the Plan and as to which Awards
may be granted shall be 4.0 Million. Any shares of Common Stock subject to Awards that are forfeited or unexercised, to the extent Awards remain unexercised at the expiration or termination thereof may be subject to the grant of further Awards under
the Plan. The number of shares which may be issued and as to which Awards may be granted under the Plan shall be further subject to adjustment in accordance with Section 9. 
 
(b) The Common Stock to be issued under the Plan may be either authorized but unissued shares or issued
shares acquired by the Company and held in its treasury. 
 

	8.	 	Government and Other Regulations 

 
The obligation of the Company to issue or transfer and deliver shares for Awards exercised under the Plan shall be subject to (1) the
effectiveness of a registration statement under the Securities Act of 1933, as amended, with respect to such issue or transfer, if deemed necessary or appropriate by counsel for the Company; (2) the condition that the shares of Common Stock
authorized to be issued hereunder shall have been listed (or authorized for listing upon official notice of issuance) upon each stock exchange on which outstanding shares of Common Stock may then be listed; and (3) all other applicable laws,
regulations, rules and orders which shall then be in effect and which may apply to the Participant, the Company and its Subsidiaries. 
 

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	9.	 	No Right to Employment 

 
Neither the existence of the Plan nor the grant of any Award pursuant to the Plan shall create in any Participant or Eligible Person the
right to continue to be employed by the Company or a Subsidiary. 
 

	10.	 	Adjustments Upon Changes in Capitalization 

 
In the event of any change in the number of outstanding shares of Common Stock by reason of any stock dividend, stock split or similar
change, a corresponding change shall be made in the numbers of shares subject to outstanding Awards, in the Exercise Price of outstanding Awards and in the maximum number of shares which then remain available for issuance. In the event of any change
in the outstanding shares of Common Stock, or in the number thereof, by reason of any merger, consolidation, combination, sale of assets, exchange of shares, recapitalization, reorganization, spin-off or similar change, the Board may make such
changes in the shares, and in the numbers or Exercise Prices of shares, subject to outstanding Awards, and in the maximum number of shares which may be issued under the Plan, as the Board may deem to be equitable. No such change, without the consent
of a Participant may adversely affect the rights of such Participant with respect to an Award previously granted, and any such change shall be final, conclusive and binding on all persons, including the Company, its shareholders and Participants.

 

	11.	 	Amendment and Termination 

 
The Board or the Committee may amend or suspend the Plan, in whole or in part, at any time, but no amendment may, without Board approval,
(1) increase the maximum number of shares which may be issued and for which Awards may be granted under the Plan; (2) change the manner of determining the Exercise Price, other than to change the manner of determining the Fair Market Value of the
Common Stock to conform to any then-applicable provision of the Code; (3) extend the date upon which the Plan shall terminate; or (4) increase the maximum period during which Awards may be exercised hereunder. The Plan shall terminate on, and no
Award may be granted after, December 31, 2008, or on such earlier date as may be determined by the Board. No amendment, suspension or termination of the Plan may affect adversely, without the consent of the Participant, the rights of such
Participant with respect to an Award previously granted. 
 

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