Document:

Exhibit 10.1

March 2, 2006

2006 Bonus and Incentive Share Award For:

«Name»

	
  Grant Date:

  	
   

  	
  February 24, 2006

  	
   

  
	
  Restricted
  Shares Vesting Date:

  	
   

  	
  February 24, 2010

  	
   

  
	
  Unrestricted
  Shares Awarded:

  	
   

  	
  «Bonus_Shares» (“Bonus Shares”)

  	
   

  
	
  Restricted
  Shares Awarded:

  	
   

  	
  «Incentive_Shares» (“Incentive Shares”)

  	
   

  

 

I am pleased to confirm the award made to you on February 24,
2006 by the Compensation Committee of the Board of Directors of «Bonus_Shares» Bonus Shares and «Incentive_Shares» Incentive Shares of the
Company’s common stock.

The grant of Incentive Shares awarded to you is
subject to four-year cliff-vesting if you retain all of your Bonus Shares
during that time. The entire award of Bonus and Incentive Shares are subject to
the other terms and conditions specified in the West Pharmaceutical Services, Inc.
2004 Stock-Based Compensation Plan. Attached with this award letter are a
summary of important  Terms and
Conditions and a Participant Information Statement. Both documents should be
reviewed carefully.

This Award is governed by all of the terms and
conditions contained in this award letter and the Plan. In the event of a
conflict between this award letter and the Plan, the provisions of the Plan
shall control for any and all purposes. If you wish to sell or withdraw any of
the shares in your account, you should contact the Company’s stock plan
administrator, Computershare Trust Company at (732)-491-0437. A
Sale or Withdrawal of Shares form is enclosed for your convenience.

Please review the attached documentation carefully. I
would be happy to answer any questions about the terms and conditions of your
awards.

	
  

  	
  Very
  truly yours,

  
	
   

  	
   

  
	
   

  	
  /s/ Richard D. Luzzi

  
	
   

  	
  Richard D. Luzzi

  
	
   

  	
  Vice President Human
  Resources

  

 

RDL/rmm

Attachments

 

Terms
and Conditions for

Employee Bonus and Incentive Stock Awards

1.                  Bonus
Shares are shares of Company stock awarded to you and are considered “Bonus
Stock” under the Company’s 2004 Stock-Based Compensation Plan. Incentive Shares
are shares of stock that are subject to risk of forfeiture as explained below
and are considered “Restricted Stock” under the Plan.

2.                  Upon
grant, the number of Bonus and Incentive shares shown on the accompanying grant
letter will be held in an account on your behalf. Recipients will be permitted
to indirectly vote their allocated shares through the plan administrator and to
receive dividends and other distributions with respect thereto, except that:
dividends on Bonus and Incentive shares will be reinvested in additional shares
of stock. If the Incentive Shares are forfeited, recipient shall have no right
to receive shares purchased through dividends paid on the restricted shares.

3.                  All of the
Incentive shares will vest 100% on the fourth anniversary of the grant date,
subject to the following circumstances:

	
  Event

  	
   

  	
   

  	
   

  	
  Effect on Incentive Shares

  	
   

  	
   

  	
   

  	
   

  
	
  Before the vesting date

  	
   

  	
  .

  	
   

  	
   

  
	
  . . . recipient sells,
  assigns, exchanges, pledges, hypothecates or otherwise encumbers any of the
  Bonus Shares 

  	
   

  	
  . . . all of the
  Incentive Shares are immediately forfeited. 

  	
   

  	
   

  
	
  , . . . recipient
  tenders Bonus Shares as full or partial payment of the exercise price of a
  stock option granted under a Company plan 

  	
   

  	
  . . . the Incentive
  Shares continue to vest according to the original schedule

  	
   

  	
   

  
	
  . . . recipient tenders
  Bonus Shares to satisfy applicable tax withholding requirements as permitted
  by the Plan

  	
   

  	
  . . . . the Incentive
  Shares continue to vest according to the original schedule

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Termination of
  Employment

  	
   

  	
   

  	
   

  	
   

  
	
   . . . due to death, disability or retirement
  under a qualified pension plan maintained by the Company 

  	
   

  	
  . . . the following
  percentage of the Incentive Shares will vest:

  	
   

  	
   

  
	
   

  	
   

  	
  (i) 25%, if at least 1
  but less than 2 years has elapsed

      since the Grant Date; 

  	
   

  	
   

  
	
   

  	
   

  	
   (ii) 50%, if at least 2 but less than 3
  years has elapsed

         since the Grant Date; and 

  	
   

  	
   

  
	
   

  	
   

  	
  (iii) 75%, if at
  least 3 years has elapsed since the Grant

        Date

  	
   

  	
   

  
	
  . . . for any reason
  other than death, disability or retirement

  	
   

  	
  . . . . all of the
  Incentive Shares are immediately forfeited.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Change in Control of the Company . . .

  	
   

  	
  . . . all Incentive Shares vest in full as of the
  date of the change in control.

  	
   

  	
   

  

 

 

4.                  This
Award granted hereunder is subject to the applicable terms and conditions of
the Plan, which are incorporated herein by reference, and in the event of any
contradiction, distinction or differences between this award letter and its
summary and the terms of the Plan, the terms of the Plan will control.

5.                  If
recipient has elected to defer some or all of the Bonus and Incentive shares
under the Company’s Deferred Compensation Plan, additional restrictions apply
to these shares.

6.                  The
Company may condition delivery of certificates for shares upon the prior
receipt from Employee of any undertakings which it may determine are required
to assure that the certificates are being issued in compliance with federal and
state securities laws.Exhibit 10.2

CORRECTED VERSION

March 9, 2006

2006 Non-Qualified
Stock Option Award for:

«Name»

This will confirm
that on February 24, 2006, the Compensation Committee of the Board of
Directors granted you a non-qualified stock option to buy «Option_Shares»
of the Company’s common stock at $32.585 per share as outlined
below:

	
  Grant Type

  	
   

  	
   

  	
   

  	
  Number of Shares

  	
   

  	
  Date First Exercisable

  	
   

  	
  Expiration Date

  
	
  Non-Qualified

  	
   

  	
  «Option_Shares»

  	
   

  	
  February 24, 2007

  	
   

  	
  February 24, 2016

  

 

Attached are the
following documents:

1.                 The
Plan Information Statement, which describes the terms and conditions of the
Plan, tax consequences of grants and awards under the Plan and other relevant
information.

2.                 An
Information Sheet about Computershare, the Company’s stock plan administrator. This
contains important information about how to exercise your stock options. Review
it carefully!

3.                 Additional
information about the terms and conditions of the Award.

This Award is to be governed by all of the terms and
conditions contained in this award letter and the Plan. In the event of a
conflict between this award letter and the Plan, the provisions of the Plan
shall control for any and all purposes.

Please review the
attached documentation carefully. I would be happy to answer any questions
about the terms and conditions of your awards.

	
  

  	
   

  	
  Very truly yours,

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Richard D. Luzzi

  
	
   

  	
   

  	
  Richard D. Luzzi

  
	
   

  	
   

  	
  Vice President Human Resources

  

 

RDL/rmm

Attachments

Terms
and Conditions of the Non-Qualified Stock Option Awards

Grant of Option

The Company grants to you, as of the Grant Date, the
right to purchase (the “Option”) any or all of the Option Shares at the
Exercise Price, on the terms and conditions set forth herein and in the 2004
Stock-Based Compensation Plan (the “Plan”). The Option granted is a
non-qualified stock option.

Vesting; Time of
Exercise

One-fourth of the Option shall become exercisable on
the first anniversary of the Grant Date, and an additional one-fourth of the
Option shall become exercisable on each subsequent anniversary until the Option
is fully exercisable on the fourth anniversary of the Grant Date.

After becoming exercisable, the Option will remain
exercisable until February 24, 2016, (the “Expiration Date”) when it will
expire, including in the case of your Retirement or termination due to
Disability prior to the Expiration Date, except as set forth below:

·                  if you die, the Option will expire on the earlier of the Expiration
Date or the one-year anniversary of your date of death; or

·                  if your employment with the Company terminates for any reason other
than Retirement, Disability, death or removal for Cause, the Option will expire
on the earlier of the Expiration Date or the 90-day anniversary of the date
of such termination; or

·                  if
you are terminated for Cause, the Option will expire on the earlier of the
Expiration Date or the commencement of business on the date of your termination
date.

Manner of Exercise

You may exercise this Option by following the exercise
procedures established from time to time by the Company. In addition, all
option exercise transactions by officers of the Company who are subject to Section 16
of the Securities and Exchange Act of 1934 are subject to prior review by and
written pre-approval of the Company’s General Counsel.

Payment for Option
Shares

The option price for the Option Shares shall be paid
within three days of the date of exercise in (i) cash, or (ii) with
the consent of the Compensation Committee (the “Committee”), in whole or in
part, in shares of Common Stock held by you for at least six months and valued
at their Fair Market Value (as that term is defined in the Plan) on the date of
exercise.

Right to Offset

Notwithstanding any provision of this Award to the
contrary, if at any time within (i) the term
of this Option or (ii) within 3 months following termination of employment
or (iii) within 3 months after you exercise any portion of this Option,
whichever is the latest, you directly or indirectly engage in conduct deemed to
be any activity in competition with any activity of the Company, or inimical,
contrary or harmful to, or not in the best interests of, the Company or if you
fail to comply with any of the terms and conditions of the Plan or this Award,
unless such failure is remedied within ten days after having been notified of
such failure, then any and all rights to
exercise this Option shall terminate and any option gain realized by you from
exercising all or any portion of this Option shall be paid by you to the
Company. By accepting this Option, you consent to a deduction from any amounts
the Company 

owes to you, including amounts owed as wages or other
compensation, fringe benefits, or vacation paid, to the extent of the amount
owed under this heading. Whether or not the Company elects to make any set-off
in whole or in part, if the Company does not recover by means of set-off the
full amount you owe, calculated as set forth above, you agree to pay
immediately the unpaid balance to the Company.

For purposes of this section, “conduct deemed to be
harmful to, or not in the best interests of, the Company” shall include without
limitation:

·                  conduct
related to your employment for which either criminal or civil penalties against
you may be sought;

·                  acquisition
of a direct or indirect interest or an option to acquire such an interest in
any person or entity engaged in competition with, the Company’s business (other
than an interest of not more than 5 percent of the outstanding stock of any
publicly traded company);

·                  accepting
employment with or serving as a director, officer, employee or consultant of,
or furnishing information to, or otherwise facilitating the efforts of, any
person or entity engaged in competition with the Company’s business;

·                  soliciting,
employing, interfering with, or attempting to entice away from the Company any
employee who has been employed by the Company in an executive or supervisory
capacity, within one year prior to such solicitation, employment, interference
or enticement;

·                  violation
of Company policies, including the Company’s insider-trading policy; and

·                  using
for your own or others’ benefit, or disclosing to others, any confidential or
proprietary information of the Company in contravention of any Company policy
or agreement.

Withholding 

The Company has the right to require you to remit to
the Company an amount sufficient to satisfy any Federal, state or local
withholding tax requirements prior to the delivery of any certificate for such
shares, or in the discretion of the Committee, the Company may withhold from
the shares to be delivered shares sufficient to satisfy all or a portion of
such tax withholding requirements.

No Right to
Continued Employment

Nothing in this Award gives you the right to continued
employment with the Company or interferes in any way with the right of the
Company to terminate your employment at any time.

Plan Document

This Award and the option granted hereunder is subject
to the applicable terms and conditions of the Plan, which are incorporated
herein by reference, and in the event of any contradiction, distinction or
differences between this Award and its summary and the terms of the Plan, the
terms of the Plan will control. All capitalized terms used herein, not
otherwise defined herein, shall have the meanings set forth in the Plan.

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