Document:

Exhibit

EXHIBIT 10.2

Amendment No 1 (“Amendment”), dated as of February 23, 2016 (“Amendment Date”) to the Severance Protection Agreement, effective as of May 13, 2011 (“SPA”), by and between Entegris, Inc., a Delaware corporation (the "Company"), and Gregory B. Graves ("Executive"). 

Recitals
1.    The Company and the Executive wish to amend the provisions of Section 9 to the SPA. 

Now, Therefore, in consideration of the above recital and their mutual promises, the Company and Executive agree as follows: 

1.    Amended Provisions of the SPA.  
1.1.     Amendment to Section 9 of the SPA From and after the Amendment Date the provisions of Section 9 shall be deleted and the following shall be substituted in lieu thereof: 
“9.    Retirement, etc.  If Executive ceases to be an employee due to retirement at age 54 with 10 years of continuous service, Executive will be entitled to immediate vesting of all outstanding unvested RSUs and stock option awards granted to Executive after the Effective Date.  With respect to awards made after January 1, 2014, the retirement age shall be 57 with 10 years of continuous service and the waiver signed by Executive effective March 20, 2014 shall be of no further force or effect.  In the event that future RSU awards include a performance based vesting feature, vesting will continue based on achievement of the performance metrics after the Executive ceases to be an employee due to retirement.  Executive acknowledges that the protections of this Section 9 may result for tax purposes in the lapse of a “substantial risk of forfeiture” with respect to any outstanding and unvested RSU awards at the time of Executive’s attainment of retirement eligibility (rather than upon any later actual retirement or scheduled vesting) and that, accordingly, Executive may owe FICA tax with respect to such awards prior to actual delivery of the shares.  Reference is made to the RSU and stock option awards made to Executive in 2011 and prior to the date hereof (the “2011 RSU award” and the “2011 stock option award,” respectively).  The provisions of this Section 9 shall apply to accelerate vesting under the 2011 RSU award and the 2011 stock option award in respect of any retirement in accordance with this Section 9 prior to scheduled vesting; provided, that if acceleration of the last vesting tranche under the 2011 RSU award occurs by reason of this Section 9, the shares relating to the portion so accelerated shall be delivered to Executive immediately upon retirement; and further provided, that if Executive does not retire under circumstances requiring an acceleration of the 2011 RSU award, the shares underlying the last tranche of such award (unless earlier forfeited) shall be delivered immediately upon scheduled vesting on February 19, 2015 and in all events by March 15, 2015.  Any RSU award granted to Executive after the date hereof shall contain terms consistent with this Agreement, including this Section 9.  However, notwithstanding the foregoing provisions of this Section 9, in no event shall any award granted to Executive after January 1, 2016 vest in less than 12 months following the date of such grant.  For purposes of this section, all options that either have vested prior to retirement or that vest upon retirement will be eligible for exercise for the lesser of four (4) years or the expiration date of the options. 
 

2.    Effect of Amendment.  This Amendment shall take effect as of the Amendment Date and shall continue in effect for the term of the SPA.  Except as amended hereby, all other terms of the SPA shall continue in full force and effect.

IN WITNESS WHEREOF, the parties have executed this Amendment No. 1 to the Severance Protection Agreement effective as of the Amendment Date. 

Entegris, Inc.    Executive

By: /s/ Bertrand Loy                /s/ Gregory Graves
Name: Bertrand Loy                Printed Name:  Gregory B. Graves
Title:  President & CEOEXHIBIT 10.2

 

ROYAL GOLD, INC.

FORM OF AMENDMENT TO

EQUITY AWARD AGREEMENTS

 

This AMENDMENT (“Amendment”), dated as of February 25, 2016, amends the terms and conditions of those certain equity award agreements governing the terms of equity awards set forth on Exhibit A granted under the Company’s 2004 Omnibus Long-Term Incentive Plan (“2004 LTIP”), by and between Royal Gold, Inc., a Delaware corporation (the “Company”), and [          ] (“Grantee”).  Terms used herein, unless otherwise defined herein, shall have the meanings ascribed to them in the 2004 LTIP and in the specified award agreement.

 

RECITALS

 

WHEREAS, the Compensation, Nominating and Governance Committee (the “Committee”) of the Board of Directors of the Company has full and final authority to amend, modify or supplement the terms of any outstanding equity award, pursuant to Section 3.3 of the 2004 LTIP.

 

WHEREAS, the Committee has approved an amendment to each outstanding equity award agreement issued under the 2004 LTIP, to permit the Company to “withhold” (replacing “cause an immediate forfeiture of”) shares of stock resulting from (1) the vesting of restricted stock or performance shares, or (2) the exercise of options or stock appreciation rights, in an amount equal to the withholding or other taxes due.

 

AMENDMENT

 

The equity award agreements set forth on Exhibit A are hereby amended as set forth below.

 

1.              Amendment to Performance Share Agreements. As to any equity award agreements set forth on Exhibit A that are Performance Share Agreements, the paragraph titled “Withholding Taxes” is replaced and superseded by the following:

 

Withholding Taxes

 

You agree, as a condition of this grant, that you will make acceptable arrangements to pay any withholding or other taxes that may be due as a result of the vesting in Performance Shares or your acquisition of Stock under this grant.  In the event that the Company determines that any federal, state, local or foreign tax or withholding payment is required relating to the vesting of shares arising from this grant, the Company shall have the right to:  (i) require such payments from you; (ii) withhold such amounts from other payments due to you from the Company or any Affiliate; or (iii) withhold shares of Stock subject to the Performance Shares granted pursuant to this Agreement in an amount equal to the withholding or other taxes due.

 

2.              Amendment to Restricted Stock Agreements. As to any equity award agreements set forth on Exhibit A that are Restricted Stock Agreements, the paragraph titled “Withholding Taxes” is replaced and superseded by the following:

 

Withholding Taxes

 

You agree, as a condition of this grant, that you will make acceptable arrangements to pay any withholding or other taxes that may be due as a result of the vesting of Restricted Stock acquired under this grant.  In the event that the Company determines that any federal, state, local or foreign tax or withholding payment is required relating to the vesting of shares arising from this grant, the Company shall have the right to:  (i) require such payments from you; (ii) withhold such amounts from other payments due to you from the Company or any Affiliate; or (iii) withhold shares of Restricted Stock granted pursuant to this Agreement in an amount equal to the withholding or other taxes due.

 

3.              Amendment to Incentive Stock Option Agreements. As to any equity award agreements set forth on Exhibit A that are Incentive Stock Option Agreements, the paragraph titled “Withholding Taxes” is replaced and superseded by the following:

 

 

Withholding Taxes

 

You will not be allowed to exercise this option unless you make acceptable arrangements to pay any withholding or other taxes that may be due as a result of the option exercise or sale of Stock acquired under this option.  In the event that the Company determines that any federal, state, local or foreign tax or withholding payment is required relating to the exercise or sale of shares arising from this grant, the Company shall have the right to:  (i) require such payments from you; (ii) withhold such amounts from other payments due to you from the Company or any Affiliate; or (iii) withhold shares of Stock subject to the option granted pursuant to this Agreement in an amount equal to the withholding or other taxes due.

 

4.              Amendment to Stock Appreciation Rights (“SARs”) Agreements. As to any equity award agreements set forth on Exhibit A that are Stock Appreciation Rights Agreements, the paragraph titled “Withholding Taxes” is replaced and superseded by the following:

 

Withholding Taxes

 

You will not be allowed to exercise the SARs unless you make acceptable arrangements to pay any withholding or other taxes that may be due as a result of the exercise of the SARs.  In the event that the Company determines that any federal, state, local or foreign tax or withholding payment is required relating to the exercise or sale of shares arising from this grant, the Company shall have the right to:  (i) require such payments from you; (ii) withhold such amounts from other payments due to you from the Company or any Affiliate; or (iii) withhold shares of Stock subject to the exercised SARs pursuant to this Agreement in an amount equal to the withholding or other taxes due.

 

No Impairment.  The Amendment does not impair the Grantee’s rights under the existing terms of the respective award and does not otherwise violate any provision of the 2004 LTIP.

 

Continuing Effect.  Except as specifically provided herein, the equity award agreements amended by this Amendment shall remain in full force and effect in accordance with their respective terms and are hereby ratified and confirmed in all respects.

 

Binding Effect.  The Amendment shall be binding upon and inure to the benefit of any successors to the Company and all persons lawfully claiming under Grantee.

 

Governing Law.  The Amendment shall be governed by, and construed in accordance with, the laws of the State of Delaware.

 

IN WITNESS WHEREOF, the Company has caused this Amendment to be duly executed by its officer thereunto duly authorized as of the date referred to above.

 

ROYAL GOLD, INC.

 

 

	
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Name:
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
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2

 

Exhibit A

 

I certify that I have carefully read and I understand the foregoing Amendment which applies to each of my outstanding equity award agreements issued under the Royal Gold 2004 Omnibus Long-Term Incentive Plan, as listed below.  The Amendment permits the Company to “withhold” shares of stock resulting from (1) the vesting of restricted stock or performance shares, or (2) the exercise of options or stock appreciation rights, in an amount equal to the withholding or other taxes due.

 

Performance Share Agreements:

 

 

Restricted Stock Agreements:

 

 

Incentive Stock Option Agreements:

 

 

Stock Appreciation Rights Agreements:

 

 

	
GRANTEE:
    
	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Date

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