Document:

EX-10.1

Exhibit 10.1

SEVENTH AMENDMENT

TO

RPM INTERNATIONAL INC. 1997 RESTRICTED STOCK PLAN

     THIS SEVENTH AMENDMENT to the RPM International Inc. 1997 Restricted Stock Plan is executed by
RPM International Inc. (hereinafter referred to as the “Company”) as of the date set forth below.

WITNESSETH:

     WHEREAS, the Company adopted and maintains the RPM International Inc. 1997 Restricted Stock
Plan (hereinafter referred to as the “Plan”) for the benefit of certain of its employees and
certain employees of the Company’s subsidiaries; and

     WHEREAS, although the Plan by its terms has lapsed, there remain outstanding awards under the
Plan; and

     WHEREAS, it is the desire of the Company to assure that the Plan and the awards thereunder
meet the requirements for exemption from coverage under Section 409A of the Internal Revenue Code;
and

     WHEREAS, final regulations under Section 409A, which become effective January 1, 2009, provide
that restricted stock will not be deferred compensation under Section 409A as long as there is no
deferral of the property upon lapse of the restrictions; and

     WHEREAS, final regulations under 409A further provide that deferred compensation that was
earned and vested as of December 31, 2004, is exempt from coverage under Section 409A, so that any
deferrals of restricted stock made prior to December 31, 2004 are not subject to Section 409A; and

 

 

     WHEREAS, the Company has determined to eliminate certain provisions of the Plan that permit
the deferral of certain Shares into the RPM International Inc. Deferred Compensation Plan;

     NOW, THEREFORE, pursuant to Section 8 of the Plan, the Company hereby amends the Plan as
follows:

     1. Effective as of June 1, 2006, Section 5.1 of the Plan is amended by the deletion of said
Section 5.1 in its entirety and the substitution of a new Section 5.1 to read as follows:

     “5.1 The Shares shall not be sold, transferred or otherwise disposed of and shall not
be pledged or otherwise hypothecated (and any such sale, transfer or other disposition,
pledge or other hypothecation being hereinafter referred to as ‘to dispose of’ or a
‘disposition’) until the earliest of (a) the later of either the employee’s termination of
employment with the Company and any of its subsidiaries or the lapse of the right of the
Company to a return of such Shares pursuant to Section 5.2 below; (b) a change in control
that occurs with respect to the Company; or (c) the termination of the Plan.
Notwithstanding the foregoing, but subject to the terms, conditions and restrictions
specified under this Plan, after the date that a participant’s Shares become nonforfeitable
in accordance with Article 5 or Article 6, the Company or the escrow agent (as the case may
be) shall sell the fewest number of such Shares with respect to which restrictions have
lapsed necessary for the proceeds of such sale to equal (or exceed by not more than the
actual sale price of a single Share) the participant’s minimum tax liability determined by
multiplying (A) the aggregate minimum marginal federal and applicable state and local income
tax rates on the date of the lapse of restrictions; by (B) the total number of Shares with
respect to which restrictions have lapsed. The Company or the escrow agent

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(as the case may be) shall withhold the proceeds of such sale for purposes of
satisfying the participant’s federal, state and local income taxes resulting from the lapse
of restrictions. The Company or the escrow agent (as the case may be) shall deliver the
proceeds of the sale of Shares to the Internal Revenue Service and/or other taxing authority
in satisfaction of the participant’s tax liability arising from the lapse of restrictions.
The participant shall provide the Committee, the Company and/or the escrow agent with such
stock powers and additional information or documents as may be necessary for the Committee,
the Company and/or the escrow agent to discharge their obligations under this Section.”

     2. Effective as of December 31, 2006, Section 8 of the Plan is amended by the deletion of said
Section 8 in its entirety and the substitution of a new Section 8 to read as follows:

     “8. Amendments.

This Plan may be amended at any time by the Board of Directors, provided, that if this Plan shall
have been approved by the Shareholders of the Company no such amendment shall increase the maximum
number of Shares that may be issued pursuant to this Plan, except pursuant to Section 4 hereof,
without the further approval of such Shareholders; and provided further, that no amendment to this
Plan shall modify or impair the rights of participants who have been awarded Shares, or who have
been granted the right to an award of Shares hereunder prior to any such amendment, without the
consent of such participants.”

     3. Effective as of June 1, 2006, Section 11 of the Plan is amended by the deletion of said
Section 11 in its entirety and the substitution of a new Section 11 to read as follows:

     “11. No Deferrals After May 31, 2006.

     No Restricted Stock becoming nonforfeitable after May 31, 2006, shall be permitted to
be deferred under the RPM International Inc. Deferred Compensation Plan or any similar
deferred compensation plan of the Company.”

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     4. Effective as of January 1, 2005, the Plan is amended by the addition of a new Section 12 to
read as follows:

     “12. Application of Section 409A of the Internal Revenue Code.

     12.1. Shares awarded under the Plan that became nonforfeitable after December 31, 2004
and before June 1, 2006 are subject to Section 409A of the Internal Revenue Code (“Section
409A”) dealing with nonqualified nondeferred compensation if the participant made an
election to defer such Shares into the Deferred Compensation Plan, and all such awards of
Shares so deferred will be construed and administered in accordance with Section 409A and
regulations and other guidance thereunder.

     12.2 Shares awarded under the Plan that become nonforfeitable after May 31, 2006, and
all rights related thereto are intended to meet the requirements for exclusion from coverage
under Section 409A (including without limitation the exemptions thereunder for short-term
deferrals and restricted property) and all such awards of Shares will be construed and
administered accordingly. Notwithstanding anything to the contrary contained in this Plan
or any grant agreement made hereunder, this Plan and any grant agreement hereunder may be
unilaterally amended by the Company as it may determine, prospectively or retroactively, to
better secure exemption of the Plan and rights related thereto from the requirements of
Section 409A (with, to the extent required by Section 8, the consent of affected
participants, which consent shall not be unreasonably withheld).”

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     IN WITNESS WHEREOF, RPM International Inc., by its officer duly authorized, has caused this
Seventh Amendment to the RPM International Inc. 1997 Restricted Stock Plan to be signed effective
as of this 31st day of December, 2008.

	 	 	 	 	 
	 	RPM INTERNATIONAL INC.

 	 
	 	By:  	/s/
Janeen B. Kastner 	 
	 	 	Janeen B. Kastner 	 
	 	 	Its: 	 Vice President — Corporate Benefits and

Risk Management 	 

5EX-10.2

	 	 	 	 	 

Exhibit 10.2

AMENDMENT NO. 1

TO

RPM INTERNATIONAL INC.

2007 RESTRICTED STOCK PLAN

     THIS AMENDMENT NO. 1 to the RPM International Inc. 2007 Restricted Stock Plan is executed by
RPM International Inc. (hereinafter known as the “Company”) as of the date set forth below.

WITNESSETH:

     WHEREAS, the Company maintains the RPM International Inc. 2007 Restricted Stock Plan
(hereinafter known as the “Plan); and

     WHEREAS, it is the desire of the Company to assure that the Plan meets the requirements for
exemption from coverage under Section 409A of the Internal Revenue Code; and

     WHEREAS, final regulations under Section 409A, which are effective January 1, 2009, provide
that restricted property will not be deferred compensation under Section 409A as long as there is
no deferral of the property upon lapse of restrictions; and

     WHEREAS, the Company has determined to eliminate the right of Participants to defer the
recognition of income incident to a Restricted Stock Award in accordance with the terms of the RPM
International Inc. Deferred Compensation Plan;

     NOW, THEREFORE, pursuant to Section 12 of the Plan the Company hereby amends the Plan as
follows, effective June 1, 2007:

 

 

          1. Section 3 of the Plan is amended by the deletion of subsection (j) in its entirety, and the
remaining subsections of Section 3 shall be relettered accordingly.

          2. Section 4(d)(vii) of the Plan is amended by the deletion of said Section 4(d)(vii) in its
entirety and the substitution of a new Section 4(d)(vii) to read as follows:

          ”(vii) Section 409A of the Code. The Restricted Stock Awards under this Plan,
and all rights related thereto are intended to meet the requirements for exclusion from
coverage under Section 409A of the Code dealing with nonqualified deferred compensation
(including without limitation the exemptions thereunder for short-term deferrals and
restricted property) and all Restricted Stock Awards will be construed and administered
accordingly. Notwithstanding anything to the contrary contained in this Plan or any
Restricted Stock Awards, this Plan and any Restricted Stock Award may be unilaterally
amended by the Company as it may determine, prospectively or retroactively, to better secure
exemption of Restricted Stock Awards and rights related thereto from the requirements of
Section 409A of the Code (with, to the extent required by Section 12, the consent of the
holder of any Restricted Stock Award, which consent shall not be unreasonably withheld).”

          3. Sections 11(a) and 11(b) of the Plan are amended by the deletion of said Sections 11(a) and
11(b) in their entirety and the substitution of new Sections 11(a) and 11(b) to read as follows:

          
“(a) Relationship to Deferred Compensation Plan. This Plan does not provide
deferred compensation, and as such does not provide for any deferral of income incident to a
Restricted Stock Award. Notwithstanding any provisions of the RPM International Inc.
Deferred Compensation Plan or any similar deferred compensation plan of the Company, no
Participant shall have the right to defer the recognition of income incident to a Restricted
Stock Award.

          (b) Non-Transferability of Awards. No Award shall be transferable by a
Participant other than by will, by the laws of descent and distribution, to a Beneficiary in
accordance with the Plan’s terms. Notwithstanding any provision of the Plan to the
contrary, the Committee may permit a Participant to transfer any Award during the
Participant’s lifetime to such other persons and such entities and on such terms and
subject to such conditions as the Committee may provide in the relevant Award
Agreement.”

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     IN WITNESS WHEREOF, RPM International Inc., by its duly authorized officer, has caused this
Amendment No. 1 to the RPM International Inc. 2007 Restricted Stock Plan to be signed effective as
of this 31st day of December, 2008.

	 	 	 	 	 
	 	RPM INTERNATIONAL INC.

 	 
	 	By:  	/s/
Janeen B. Kastner 	 
	 	 	Janeen B. Kastner 	 
	 	 	Its: 	 Vice President — Corporate Benefits and

Risk Management 	 
	 

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