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  Exhibit 10.1    
    

 
    CONSULTING AGREEMENT    
    

        THIS AGREEMENT is made effective as of May 1, 2012 

 BY AND BETWEEN  

	(1)
	Huntsman
International LLC, a Delaware Limited Liability Company, (the "Company"); and

	(2)
	Jon
M. Huntsman, Jr., an individual (the "Consultant") 

        WHEREAS, the Company is a global manufacture of differentiated organic chemical products and of inorganic chemical products, with
significant operations in the Asia Pacific region; 

        WHEREAS, the Consultant has extensive business experience, as well as experience in government affairs, both in the United States and in
the Asia Pacific region, and has served as the Governor of the State of Utah and U.S. Ambassador to both Singapore and China. 

        WHEREAS, the Company would like to avail itself of the experience and knowledge of the Consultant for the benefit of the Company. 

        NOW AND THEREFORE, the Company and the Consultant have agreed the following terms and conditions on which the Consultant will provide
services to the Company for the purposes of its business. 

1.     DEFINITIONS  

        In this Agreement and the Schedules hereto: 

        "Services" means the consultancy services described in Schedule 1. 

        "Termination Date" means the date on which this Agreement terminates. 

2.     THE SERVICES AND OBLIGATIONS OF THE CONSULTANT  

	2.1
	The
Company agrees to engage the Consultant for the benefit of the Company and the Consultant agrees to supply the Services to the Company under the terms
of this Agreement and the Schedules hereto.

	2.2
	The
Consultant will provide the Services diligently and in a timely and professional manner, and using all necessary care and skill in doing so.

	2.3
	In
addition, the Consultant agrees to:

	(a)
	keep
the Designated Managers, as specified/defined in Schedule 1, informed of the progress of all
assignments on which he is working; and

	(b)
	comply
with all reasonable and lawful requests of the Company and to work and co-operate with its personnel or personnel of the Company. 

3.     COMMENCEMENT AND DURATION  

This
Agreement will be deemed to have commenced on the commencement date specified in Schedule 1 and subject to the parties' right to terminate
pursuant to Clause 8 below, will continue for the period specified in Schedule 1. 

4.     THE CONSULTANT'S FEE  

	4.1
	In
consideration of the provision of the Services, the Company will pay to the Consultant a fee as specified in  Schedule 1. All fees are payable in accordance with the timescales specified in
 Schedule 1, 

 
	4.2
	The
Consultant shall be entitled to reimbursement of any reasonable expenses incurred on its own behalf in the course of providing the Services unless
otherwise agreed between the parties. Expenses submitted for reimbursement shall be supported by satisfactory receipts.

	4.3
	The
Consultant will not be entitled to any fees or other payments for consulting services save as expressly stated in this Clause 4. 

5.     CONFIDENTIAL INFORMATION  

	5.1
	The
Consultant agrees to keep secret and confidential any of the trade secrets or other confidential, technical or commercial information of the Company or
its subsidiaries or joint ventures whenever received or obtained by the Consultant and in whatever capacity, including the content and any results of the discussions and evaluations carried out under
this Agreement and/or the Arbitration, and shall not use the same for any purpose whatsoever other than for the purpose of providing the Services. It is understood by the parties that the undertakings
contained in this paragraph shall continue in force in perpetuity unless superseded and replaced by any formal agreement subsequently entered into by the parties. 

6.     STATUS  

	6.1
	The
relationship of the Consultant to the Company shall be that of contractors dealing at arm's length. Nothing in this Agreement will render the Consultant
an employee or partner of the Company and the Consultant will not hold himself out as such. 

7.     TAX  

	7.1
	The
Consultant will account to the appropriate authorities for all taxes, liabilities, charges and duties arising from the performance of the Services in
relation to the Consultant. 

8.     TERMINATION  

	8.1
	This
Agreement may be terminated by either party at any time upon written notice.

	8.2
	In
the event of the termination of this Agreement, the Company shall only be liable to the Consultant in respect of fees and expenses due for the Services
provided up to the date of termination. 

9.     COMPETITION AND SOLICITATION  

The
Consultant shall not during the Duration of the Agreement, as specified/defined in Schedule 1, and for a period of 12 months
immediately following the Termination Date, supply services of a type similar to those to be supplied under this Agreement, to any existing client or competitor of the Company. 

10.   NO ASSIGNMENT  

No
assignment of this Agreement or any of the rights or obligations of this Agreement shall be valid without the prior written consent of the other party, except that the Company may assign this
Agreement or its rights and obligations under this Agreement, in whole or in part, to any subsidiary, affiliate, or successor. 

2

 

11.   EFFECT OF AGREEMENT  

	11.1
	This
Agreement and the Schedules hereto supersede any previous agreement between the parties in relation to the matters dealt with in them and represent
the entire understanding between the parties.

	11.2
	Each
party acknowledges and agrees that it has not entered into this Agreement in reliance on any representation, warranty or undertaking which is not set
out or referred to in this Agreement and the Schedules. 

12.   NOTICES  

	12.1
	Any
notice or other formal communication given under this Agreement must be in writing (which includes fax and email) and may be delivered in person, or
sent by post or e-mail to the party to be served at the following address:

	(a)
	to
the Company at: 

Huntsman
International LLC

500 Huntsman Way

Salt Lake City, Utah 84108

Facsimile: (801) 584-5782

Email: 

	(b)
	to
the Consultant at: 

Jon
M. Huntsman, Jr.

500 Huntsman Way

Salt Lake City, Utah 84108

Facsimile:

E-mail: 

or
at such other address or email address as he/it may notify to the other party under this clause. Any notice or other document sent by post shall be sent by overnight courier. 

	12.2
	This
Agreement may not be modified by any oral agreement, either express or implied. All amendments or modifications of this Agreement must be in writing
and be signed by both parties. 

13.   FORCE MAJEURE  

Neither
party shall be considered in default in the performance of its obligations hereunder to the extent that the performance of any such obligation is prevented or delayed by any cause, existing or
future, which is beyond the reasonable control of such party. In such event, the schedule and compensation for the performance of the Services shall be equitably adjusted. 

14.   GOVERNING LAW AND ARBITRATION  

	14.1
	This
Agreement will be governed by and construed in accordance with the law of State of Utah. 

3

 

        THIS AGREEMENT has been signed on behalf of the Company and by the Consultant on the date set out at the beginning. 

 

					
	/s/ WADE ROGERS

  SIGNED by Wade Rogers	 	)	 	 
	for and on behalf of Huntsman International LLC	 	)	 	 
	Date: May 9, 2012	 	)	 	 
	 	 	)

)

)

)	 	 
	
 /s/ JON M. HUNTSMAN, JR.

  SIGNED by Jon M. Huntsman, Jr.	
 	
)	
 	

 
	as Consultant	 	)	 	 
	Date: May 13, 2012	 	)

)

)

)

)

	 	 

 

   

   

 Signature
Page 

 
 

  SCHEDULE 1    
    

 

							
	1.	 	Description of the Services to be performed	 	—	 	Provide strategic advice to senior management of the Company on political, economic and business matters, particularly in connection with markets and opportunities in Asia;
	

 	
 	
 	
 	
—	
 	
Participate from time to time in negotiations and discussions with business leaders and dignitaries;
	

 	
 	
 	
 	
—	
 	
Participate in such other meetings or discussions as may be requested by senior management of the Company upon reasonable notice.
	
2.	
 	
Designated Managers	
 	
Jon M. Huntsman and Peter R. Huntsman
	
3.	
 	
Commencement date	
 	
May 1, 2012
	
4.	
 	
Duration of Agreement	
 	
Through December 31, 2013
	
5.	
 	
Fee	
 	
$27,500 per month to be paid monthly
	

 	
 	
Any special conditions to be met before payment is due	
 	

 	
 	

 
	
6.	
 	
Special requirements or conditions (if any)	
 	

 	
 	

 

 

   

   

 Schedule
1 

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Exhibit 10.1

CONSULTING AGREEMENT

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  Exhibit 10.1    
    

 
    IRON MOUNTAIN INCORPORATED
  Iron Mountain Incorporated 2002 Stock Incentive Plan
  Restricted Stock Unit Agreement    
    

        This Restricted Stock Unit Agreement and the associated grant award information (the "Customizing Information"), which Customizing
Information is provided in written form or is available in electronic form from the recordkeeper for the Iron Mountain Incorporated 2002 Stock Incentive Plan, as amended and in effect from time to
time (the "Plan"), is made as of the date shown as the "Grant Date" in the Customizing Information (the "Grant Date") by and between Iron Mountain Incorporated, a Delaware corporation (the "Company"),
and the individual identified in the Customizing Information (the "Recipient"). This instrument and the Customizing Information is collectively referred to as the "Restricted Stock Unit Agreement." 

WITNESSETH
THAT: 

        WHEREAS,
the Company has instituted the Plan; and 

        WHEREAS,
the Compensation Committee (the "Committee") has authorized the grant of restricted stock units ("RSUs") with respect to the Company's Common Stock ("Stock") upon the terms and
conditions set forth below and pursuant to the Plan, a copy of which is incorporated herein; 

        NOW,
THEREFORE, in consideration of the premises and the mutual covenants and agreements herein contained and for other good and valuable consideration the receipt and adequacy of which
are hereby acknowledged, the Company and the Recipient agree as follows. 

        1.    Grant.    Subject to the terms of the Plan and this Restricted Stock Unit Agreement, the Company hereby grants
to the Recipient that number of restricted stock units ("RSUs") equal to the corresponding number of shares of the Company's Stock (the "Underlying Shares") shown in the Customizing Information under
"Restricted Stock Units Granted." 

        2.    Vesting.    If the Recipient remains in an employment, contractual or other service relationship with the
Company ("Relationship") as of a "Vesting Date," as specified in the Customizing Information, and the Recipient as of such date is not in violation of any confidentiality, inventions and/or
non-competition agreement with the Company, all or a portion, as applicable (the "Incremental Amount," as specified in the Customizing Information), of the RSUs shall vest on such date.
For the avoidance of doubt, except as otherwise provided pursuant to the terms of the Plan, if the Recipient's Relationship with the Company is terminated by the Company or by the Recipient for any
reason, whether voluntarily or involuntarily, no RSUs granted pursuant to this Restricted Stock Unit Agreement shall vest under any circumstances on and after the date of such termination. 

        For
purposes of this Section 2, the term "Company" refers to the Company and all Subsidiaries. 

        3.    Dividends.    A Recipient shall be credited with dividend equivalents equal to the dividends the Recipient would
have received if the Recipient had been the actual record owner of the Underlying Shares on each dividend record date on or after the Grant Date and through the date the Recipient receives a
settlement pursuant to Section 4 below (the "Dividend Equivalent"). If a dividend on the Stock is payable wholly or partially in Stock, the Dividend Equivalent representing that portion shall
be in the form of additional RSUs, credited on a one-for-one basis. If a dividend on the Stock is payable wholly or partially in cash, the Dividend Equivalent representing that
portion shall also be in the form of cash and a Recipient shall be treated as being credited with any cash dividends, without earnings, until settlement pursuant to Section 4 below. If a
dividend on Stock is payable wholly or partially in other than cash or Stock, the Committee may, in its discretion, provide for such Dividend Equivalents with respect to that portion as it deems
appropriate under the circumstances. Dividend Equivalents shall be subject to the same terms and conditions as the RSUs originally awarded pursuant to this Restricted Stock Unit Agreement, and they
shall vest (or, if applicable, be forfeited) as if they had 

 

been
granted at the same time as the original RSU award. Dividend Equivalents representing the cash portion of a dividend on Stock shall be settled in cash. 

        4.    Delivery of Underlying Shares or Cash Settlement.    With respect to any RSUs that become vested RSUs as of a
Vesting Date pursuant to Section 2, the Company shall issue and deliver to the Recipient as soon as practicable following the applicable Vesting Date (a) the number of Underlying Shares
equal to the number of RSUs vesting on that date or an amount of cash equal to the Fair Market Value, as defined in the Plan, of such Underlying Shares as of that date (or such later delivery date, if
applicable) and (b) the amount (and in the form) due with respect to the Dividend Equivalents applicable to such Underlying Shares. Whether Underlying Shares, or the cash value thereof, shall
be issued or paid at settlement shall be determined based on the "Form of Settlement" specified in the Customizing Information. 

        Any
shares issued pursuant to this Restricted Stock Unit Agreement shall be issued, without issue or transfer tax, by delivering a stock certificate or certificates for such shares out
of theretofore authorized but unissued shares or treasury shares of its Stock as the Company may elect; provided, however, that the time of such delivery may be postponed by the Company for such
period as may be required for it with reasonable diligence to comply with any applicable requirements of law. Notwithstanding the prior sentence, delivery of Underlying Shares shall be made, or the
amount of cash equivalent thereto shall be paid, only if the required purchase price designated as the "Purchase Price" shown in the Customizing Information per underlying RSU is paid to the Company.
Such payment may be made either (i) by means of payment acceptable to the Company in accordance with the terms of the Plan or (ii) by a reduction in the number of shares of Stock, valued
at its Fair Market Value, issued hereunder or by a reduction in the amount of cash paid equal in each case to the aggregate Purchase Price due. If the Recipient fails to pay for or accept delivery of
all of the shares, the right to shares of Stock provided pursuant to this RSU may be terminated by the Company. 

        5.    Withholding Taxes.    The Recipient hereby agrees, as a condition of the award of RSUs, to provide to the
Company an amount sufficient to satisfy the Company's obligation to withhold federal, state, local and other taxes arising by reason of the issuance, vesting or settlement of RSUs and Dividend
Equivalents (the "Withholding Amount"), if any, by (a) authorizing the Company and/or any Subsidiary to withhold the Withholding Amount from the Recipient's cash compensation or
(b) remitting the Withholding Amount to the Company in cash; provided, however, that to the extent that the Withholding Amount is not provided by one or a combination of such methods, the
Company may at its election withhold from the Underlying Shares and Dividend Equivalents that would otherwise be delivered that number of shares (and/or cash) having a Fair Market Value on the date of
vesting sufficient to eliminate any deficiency in the Withholding Amount; and provided, further, that the Fair
Market Value of Stock withheld shall not exceed an amount in excess of the minimum required withholding. 

        6.    Non-assignability of RSUs and Dividend Equivalents.    RSUs and Dividend Equivalents shall not be
assignable or transferable by the Recipient except by will or by the laws of descent and distribution or as permitted by the Committee in its discretion pursuant to the terms of the Plan. During the
life of the Recipient, delivery of shares of Stock or payment of cash as settlement of RSUs and Dividend Equivalents shall be made only to the Recipient, to a conservator or guardian duly appointed
for the Recipient by reason of the Recipient's incapacity or to the person appointed by the Recipient in a durable power of attorney acceptable to the Company's counsel. 

        7.    Compliance with Securities Act; Lock-Up Agreement.    The Company shall not be obligated to sell or
issue any Underlying Shares or other securities in settlement of RSUs and Dividend Equivalents hereunder unless the shares of Stock or other securities are at that time effectively registered or
exempt from registration under the Securities Act and applicable state securities laws. In the event shares or other securities shall be delivered that shall not be so registered, the Recipient hereby 

2

 

represents,
warrants and agrees that the Recipient will receive such shares or other securities for investment and not with a view to their resale or distribution, and will execute an appropriate
investment letter satisfactory to the Company and its counsel. The Recipient further hereby agrees that as a condition to the settlement of RSUs and Dividend Equivalents, the Recipient will execute an
agreement in a form acceptable to the Company to the effect that the shares shall be subject to any underwriter's lock-up agreement in connection with a public offering of any securities
of the Company that may from time to time apply to shares held by officers and employees of the Company, and such agreement or a successor agreement must be in full force and effect. 

        8.    Legends.    The Recipient hereby acknowledges that the stock certificate or certificates evidencing shares of
Stock or other securities issued pursuant to any settlement of an RSU or Dividend Equivalent hereunder may bear a legend setting forth the restrictions on their transferability described in
Section 7 hereof, if such restrictions are then in effect. 

        9.    Rights as Stockholder.    The Recipient shall have no rights as a stockholder with respect to any RSUs, Dividend
Equivalents or Underlying Shares until the date of issuance of a stock certificate for Underlying Shares and any Dividend Equivalents. Except as provided by Section 3, no adjustment shall be
made for any rights for which the record date is prior to the date such stock certificate is issued, except to the extent the Committee so provides, pursuant to the terms of the Plan and upon such
terms and conditions it may establish. 

        10.    Termination or Amendment of Plan.    The Board may terminate or amend the Plan at any time. No such termination
or amendment will affect rights and obligations under this Restricted Stock Unit Agreement, to the extent it is then in effect. 

        11.    Effect Upon Employment and Performance of Services.    Nothing in this Restricted Stock Unit Agreement or the
Plan shall be construed to impose any obligation upon the Company or any Subsidiary to employ or utilize the services of the Recipient or to retain the Recipient in its employ or to engage or retain
the services of the Recipient. 

        12.    Time for Acceptance.    Unless the Recipient shall evidence acceptance of this Restricted Stock Unit Agreement
by electronic or other means prescribed by the Committee within thirty (30) days after its delivery, the RSUs and Dividend Equivalents shall be null and void (unless waived by the Committee). 

        13.    Right of Repayment.    In the event that the Recipient accepts employment with or provides services for a
competitor of the Company within two (2) years after any settlement of RSUs and Dividend Equivalents hereunder, the Recipient shall pay to the Company an amount equal to the excess of the Fair
Market Value of the Underlying Shares as of the date of settlement (whether settled in cash or Stock) over the Purchase Price, if any, paid (or deemed paid) together with the value of any Dividend
Equivalents; provided, however, that the Committee in its discretion may release the Recipient from the requirement to make such payment, if the Committee determines that the Recipient's acceptance of
such employment or performance of such services is not inimical to the best interests of the Company. The Company may deduct the amount of payment due under the preceding sentence from any
compensation or other amount payable by the Company to the Recipient. For purposes of this Section 13, the term "Company" refers to the Company and all Subsidiaries. 

        14.    Section 409A of the Internal Revenue Code.    The RSUs and Dividend Equivalents granted hereunder are
intended to avoid the potential adverse tax consequences to the Recipient of Section 409A of the Code, as defined in the Plan, and the Committee may make such modifications to this Agreement as
it deems necessary or advisable to avoid such adverse tax consequences. 

3

 

        15.    General Provisions.    

        (a)    Amendment; Waivers.    This Restricted Stock Unit Agreement, including the Plan, contains the full and complete
understanding and agreement of the parties hereto as to the subject matter hereof, and except as otherwise permitted by the express terms of the Plan and this Restricted Stock Unit Agreement, it may
not be modified or amended nor may any provision hereof be waived without a further written agreement duly signed by each of the parties; provided, however, that a modification or amendment that does
not materially diminish the rights of the Recipient hereunder, as they may exist immediately before the effective date of the modification or amendment, shall be effective upon written notice of its
provisions to the Recipient. The waiver by either of the parties hereto of any provision hereof in any instance shall not operate as a waiver of any other provision hereof or in any other instance.
The Recipient shall have the right to receive, upon request, a written confirmation from the Company of the Customizing Information. 

        (b)    Binding Effect.    This Restricted Stock Unit Agreement shall inure to the benefit of and be binding upon the
parties hereto and their respective heirs, executors, administrators, representatives, successors and assigns. 

        (c)    Fractional RSUs, Underlying Shares and Dividend Equivalents.    All fractional Underlying Shares and Dividend
Equivalents settled in Stock resulting from the application of the Vesting Schedule or the adjustment provisions contained in the Plan shall be rounded down to the nearest whole share. If cash in lieu
of Underlying Shares is delivered at settlement, or Dividend Equivalents are settled in cash, the amount paid shall be rounded down to the nearest penny. 

        (d)    Governing Law.    This Restricted Stock Unit Agreement shall be governed by and construed in accordance with
the laws of the Commonwealth of Massachusetts, without regard to the principles of conflicts of law. 

        (e)    Construction.    This Restricted Stock Unit Agreement is to be construed in accordance with the terms of the
Plan. In case of any conflict between the Plan and this Restricted Stock Unit Agreement, the Plan shall control. The titles of the sections of this Restricted Stock Unit Agreement and of the Plan are
included for convenience only and shall not be construed as modifying or affecting their provisions. The masculine gender shall include both sexes; the singular shall include the plural and the plural
the singular unless the context otherwise requires. Capitalized terms not defined herein shall have the meanings given to them in the Plan. 

        (f)    Data Privacy.    By entering into this Restricted Stock Unit Agreement and except as otherwise provided in any
data transfer agreement entered into by the Company, the Recipient: (i) authorizes the Company, and any agent of the Company administering the Plan or providing Plan recordkeeping services, to
disclose to the Company such information and data as the Company shall request in order to facilitate the administration of the Plan; (ii) waives any data privacy rights the Recipient may have
with respect to such information; and (iii) authorizes the Company to store and transmit such information in electronic form. For purposes of this Section 15(f), the term "Company"
refers to the Company and each of its Subsidiaries. 

        (g)    Notices.    Any notice in connection with this Restricted Stock Unit Agreement shall be deemed to have been
properly delivered if it is delivered in the form specified by the Committee as follows: 

 

					
	 	 	To the Recipient:	 	Last address provided to the Company
	

 	
 	
To the Company:	
 	
Iron Mountain Incorporated

745 Atlantic Avenue

Boston, Massachusetts 02111

Attn: Chief Financial Officer

 

 
        (h)    Version Number.    This document is Version 3 of the Iron Mountain Incorporated 2002 Stock Incentive Plan Stock
Restricted Stock Unit Agreement. 

4

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Exhibit 10.1

IRON MOUNTAIN INCORPORATED Iron Mountain Incorporated 2002 Stock Incentive Plan Restricted Stock Unit Agreement

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