Document:

EX-10.1

 Exhibit 10.1 

2015 Payable in Shares 
 US

 ARMSTRONG WORLD INDUSTRIES, INC. 

2011 LONG-TERM INCENTIVE PLAN 

TIME-BASED RESTRICTED STOCK UNIT GRANT 

TERMS AND CONDITIONS 
 1. Grant.

 (a) Subject to the terms set forth below, Armstrong World Industries, Inc. (the “Company”) has granted to the designated
employee (the “Grantee”) an award of time-based restricted stock units (the “Time-Based Units”) as specified in the 2015 Long-Term Time-Based Restricted Stock Unit Grant letter to which these Grant Conditions relate
(the “Grant Letter”). The “Date of Grant” is %%OPTION_DATE,’Month DD, YYYY’%-%. The Time-Based Units are Stock Units with respect to common stock of the Company (“Company Stock”). 

(b) The Time-Based Units shall be vested and payable in accordance with the schedule set forth below, if and to the extent the terms of the
Grant Letter and these Grant Conditions are met. 
 (c) These Terms and Conditions (the “Grant Conditions”) are part of the
Grant Letter. This grant is made under the Armstrong World Industries, Inc. 2011 Long-Term Incentive Plan (the “Plan”). Any terms not defined herein shall have the meanings set forth in the Plan. 

2. Vesting. 
 (a) Except as provided in
Sections 3 and 4 below, the Time-Based Units shall vest on the following dates, if the Grantee continues to be employed by the Company or its subsidiaries or affiliates (collectively, the “Employer”) on the applicable dates below
(each individually, a “Vesting Date”): 
  

					
	 Vesting Date
	  	 Time-Based Units
Vesting
	 
	 %%VEST_DATE_PERIOD1,’Month DD, YYYY’%-% (the “First Vesting Date”)
	  	 	33.33	% 
	 %%VEST_DATE_PERIOD2,’Month DD, YYYY’%-% (the “Second Vesting Date”)
	  	 	33.33	% 
	 %%VEST_DATE_PERIOD3,’Month DD, YYYY’%-% (the “Third Vesting Date”)
	  	 	33.34	% 

 (b) The vesting of the Time-Based Units is cumulative, but shall not exceed 100% of the Time-Based Units. If
the foregoing schedule would produce fractional units, the number of Time-Based Units vesting shall be rounded up to the nearest whole unit, but not in excess of 100% of the Time-Based Units. 

  
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 3. Termination of Employment.  

(a) Except as described below, if the Grantee ceases to be employed by the Employer for any reason prior to the Third Vesting Date, the
unvested Time-Based Units shall be forfeited as of the termination date and shall cease to be outstanding. 
 (b) Subject to Section 4
below, if, prior to the Third Vesting Date, the Grantee ceases to be employed by the Employer (x) on account of death or Long-Term Disability (as defined below), or (y) after ten months following the Date of Grant, on account of “55 /
5” Rule Termination (as defined below) or Involuntary Termination (as defined below) (each, a “Qualifying Termination”), the Grantee shall vest in a pro-rated portion of the outstanding Time-Based Units in accordance with this
Section 3(b): 
 (i) If the Grantee’s Qualifying Termination occurs prior to the First Vesting Date, the Grantee shall vest in a
pro rata portion of the Time-Based Units, as follows: (A) the number of Time-Based Units that would have vested on the First Vesting Date had the Grantee been employed by the Employer on the First Vesting Date, multiplied by a fraction, the
numerator of which is the number of calendar months that elapsed during the period from the Date of Grant through the Qualifying Termination date, and the denominator of which is 12, plus (B) the number of Time-Based Units that would have
vested on the Second Vesting Date had the Grantee been employed by the Employer on the Second Vesting Date multiplied by a fraction, the numerator of which is the number of calendar months that elapsed during the period from the Date of Grant
through the Qualifying Termination date, and the denominator of which is 24, plus (C) the number of Time-Based Units that would have vested on the Third Vesting Date had the Grantee been employed by the Employer on the Third Vesting Date
multiplied by a fraction, the numerator of which is the number of calendar months that elapsed from the Date of Grant through the Qualifying Termination date, and the denominator of which is 36, rounded up to the nearest whole unit. 

(ii) If the Grantee’s Qualifying Termination occurs on or after the First Vesting Date and before the Second Vesting Date, the Grantee
shall vest in the Time-Based Units as follows: (A) the number of Time-Based Units that would have vested on the Second Vesting Date had the Grantee been employed by the Employer on the Second Vesting Date multiplied by a fraction, the number of
calendar months that elapsed from the Date of Grant through the Qualifying Termination date, and the denominator of which is 24, plus (B) the number of Time-Based Units that would have vested on the Third Vesting Date had the Grantee been
employed by the Employer on the Third Vesting Date multiplied by a fraction, the numerator of which is the number of calendar months that elapsed from the Date of Grant through the Qualifying Termination date, and the denominator of which is 36,
rounded up to the nearest whole unit. 
 (iii) If the Grantee’s Qualifying Termination occurs on or after the Second Vesting Date and
before the Third Vesting Date, the Grantee shall vest in the number of Time-Based Units that would have vested on the Third Vesting Date had the Grantee been employed by the Employer on the Third Vesting Date multiplied by a fraction, the numerator
of which is the number of calendar months that elapsed from the Date of Grant through the Qualifying Termination date, and the denominator of which is 36, rounded up to the nearest whole unit. 

  
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 (c) For purposes of the calculations in Section 3(b), the number of calendar months during
the period from the Date of Grant through the Qualifying Termination date will be calculated as the number of calendar months in the period starting with (i) the first calendar month following the month in which the Date of Grant occurs through
(ii) the calendar month in which the Qualifying Termination date occurs, with such final calendar month counting as a full month. The pro-rated Time-Based Units shall be paid within 60 days after the Grantee’s termination date, as
described in Section 6. The unvested Time-Based Units, if any, shall be forfeited as of the termination date and shall cease to be outstanding. 

(d) If the Grantee ceases to be employed by the Employer on account of Cause (as defined below), any unpaid Time-Based Units (vested or
unvested) shall be forfeited as of the termination date and shall cease to be outstanding. 
 4. Change in Control Involuntary Termination. Subject
to Section 14 of the Plan, and notwithstanding Section 3 above, if the Grantee has an Involuntary Termination upon or within two years after a Change in Control, and prior to the Third Vesting Date, the Grantee’s outstanding
Time-Based Units shall become fully vested and shall be paid within 60 days after such Involuntary Termination, as described in Section 6. Notwithstanding the foregoing provisions of this Section 4, if the Grantee has a change in control
agreement in effect with the Company, the terms of the change in control agreement and not the foregoing sentence shall govern the vesting and payment of the Time-Based Units in the event of termination of employment upon, after or in connection
with a Change in Control, to the extent that such change in control agreement conflicts with the terms of these Grant Conditions. 
 5. Definitions.
For purposes of these Grant Conditions and the Grant Letter: 
 (a) “‘55 / 5’ Rule Termination” shall mean the
Grantee’s termination of employment other than for Cause after the Grantee has attained age 55 and has completed five years of service with the Employer. 

(b) “Cause” shall mean any of the following, as determined in the sole discretion of the Employer: (i) commission of a
felony or a crime involving moral turpitude; (ii) fraud, dishonesty, misrepresentation, theft or misappropriation of funds with respect to the Employer; (iii) violation of the Employer’s Code of Conduct or employment policies, as in
effect from time to time; (iv) breach of any written noncompetition, confidentiality or nonsolicitation covenant of the Grantee with respect to the Employer; or (v) gross negligence or misconduct in the performance of the Grantee’s
duties with the Employer. 
 (c) “Involuntary Termination” shall mean the Employer’s termination of the Grantee’s
employment other than for Cause. 
 (d) “Long-Term Disability” shall mean the Grantee is receiving long-term disability
benefits under the Employer’s long-term disability plan. 
 6. Payment. When Time-Based Units vest, shares of Company Stock equal to the number
of vested Time-Based Units shall be issued to the Grantee within 60 days after the applicable vesting date, subject to applicable tax withholding and subject to any six-month delay required under section 409A of the Internal Revenue Code, if
applicable, and as described in Section 20(h) of the Plan. Any fractional shares will be rounded up to the nearest whole share.  

  
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 7. Dividend Equivalents. Dividend Equivalents shall accrue with respect to Time-Based Units and shall be
payable subject to the same vesting terms and other conditions as the Time-Based Units to which they relate. Dividend Equivalents shall be credited on the Time-Based Units when dividends are declared on shares of Company Stock from the Date
of Grant until the payment date for the vested Time-Based Units. The Company will keep records of Dividend Equivalents in a non-interest bearing cash account for the Grantee. No interest will be credited to any such account. Vested Dividend
Equivalents shall be paid in cash at the same time and subject to the same terms as the underlying vested Time-Based Units. If and to the extent that the underlying Time-Based Units are forfeited, all related Dividend Equivalents shall also be
forfeited. 
 8. Delivery of Shares. The Company’s obligation to deliver shares upon the vesting of the Time-Based Units shall be subject to
applicable laws, rules and regulations and also to such approvals by governmental agencies as may be deemed appropriate to comply with relevant securities laws and regulations. 

9. No Shareholder Rights. No shares of Company Stock shall be issued to the Grantee on the Date of Grant, and the Grantee shall not be, nor have any of
the rights or privileges of, a shareholder of the Company with respect to any Time-Based Units. 
 10. No Right to Continued Employment. The grant of
Time-Based Units shall not confer upon the Grantee any right to continued employment with the Employer or interfere with the right of the Employer to terminate the Grantee’s employment at any time. 

11. Incorporation of Plan by Reference. The Grant Letter and these Grant Conditions are made pursuant to the terms of the Plan, the terms of which are
incorporated herein by reference, and shall in all respects be interpreted in accordance therewith. The decisions of the Management Development and Compensation Committee (the “Committee”) shall be conclusive upon any question
arising hereunder. The Grantee’s receipt of the Time-Based Units constitutes the Grantee’s acknowledgment that all decisions and determinations of the Committee with respect to the Plan, the Grant Letter, these Grant Conditions, and the
Time-Based Units shall be final and binding on the Grantee and any other person claiming an interest in the Time-Based Units.  
 12. Withholding
Taxes. The Employer shall have the right to deduct from all payments made hereunder and from other compensation an amount equal to the federal (including FICA), state, local and foreign taxes required by law to be withheld with respect to the
Time-Based Units. The Employer will withhold shares of Company Stock payable hereunder to satisfy the tax withholding obligation on amounts payable in shares, unless the Grantee provides a payment to the Employer to cover such taxes, in accordance
with procedures established by the Committee. The share withholding amount shall not exceed the Grantee’s minimum applicable withholding tax amount. 

13. Company Policies. All amounts payable under the Grant Letter and these Grant Conditions shall be subject to any applicable clawback or recoupment
policies, share trading policies and other policies that may be implemented by the Company’s Board of Directors from time to time. 

  
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 14. Assignment. The Grant Letter and these Grant Conditions shall bind and inure to the benefit of the
successors and assignees of the Company. The Grantee may not sell, assign, transfer, pledge or otherwise dispose of the Time-Based Units, except to a successor grantee in the event of the Grantee’s death. 

15. Section 409A. The Grant Letter and these Grant Conditions are intended to comply with section 409A of the Code or an exemption, consistent
with Section 20(h) of the Plan. In furtherance of the foregoing, if the Time-Based Units or related Dividend Equivalents constitute “nonqualified deferred compensation” within the meaning of section 409A of the Code, vested Time-Based
Units and related Dividend Equivalents shall be settled on the earliest date that would be permitted under section 409A of the Code without incurring penalty or accelerated taxes thereunder. 

16. Successors. The provisions of the Grant Letter and these Grant Conditions shall extend to any business that becomes a successor to the Company or
its subsidiaries or affiliates on account of a merger, consolidation, sale of assets, spinoff or similar transaction with respect to any business of the Company or its subsidiaries or affiliates with which the Grantee is employed, and if this grant
continues in effect after such corporate event, references to the “Company or its subsidiaries or affiliates” or the “Employer” in the Grant Letter and these Grant Conditions shall include the successor business and its
affiliates, as appropriate. In that event, the Company may make such modifications to the Grant Letter and these Grant Conditions as it deems appropriate to reflect the corporate event. 

17. Governing Law. The validity, construction, interpretation and effect of the Grant Letter and these Grant Conditions shall be governed by, and
determined in accordance with, the applicable laws of the Commonwealth of Pennsylvania, excluding any conflicts or choice of law rule or principle. 

*        *        * 

  
 5EX-10.2

 Exhibit 10.2 

2015 Payable in Cash 

Non-U.S. 
 ARMSTRONG WORLD
INDUSTRIES, INC. 
 2011 LONG-TERM INCENTIVE PLAN 

TIME-BASED RESTRICTED STOCK UNIT GRANT 

TERMS AND CONDITIONS 
 1. Grant.

 (a) Subject to the terms set forth below, Armstrong World Industries, Inc. (the “Company”) has granted to the designated
employee (the “Grantee”) an award of time-based restricted stock units (the “Time-Based Units”) as specified in the 2015 Long-Term Time-Based Restricted Stock Unit Grant letter to which these Grant Conditions relate
(the “Grant Letter”). The “Date of Grant” is %%OPTION_DATE,’Month DD, YYYY’%-%. The Time-Based Units are Stock Units that relate to common stock of the Company (“Company Stock”) and
entitle the Grantee to receive a cash bonus payment from the Grantee’s employer subject to the terms set forth below. 
 (b) The
Time-Based Units shall be vested and payable in accordance with the schedule set forth below, if and to the extent the terms of the Grant Letter and these Grant Conditions are met. 

(c) These Terms and Conditions (the “Grant Conditions”) are part of the Grant Letter. This grant is made under the Armstrong
World Industries, Inc. 2011 Long-Term Incentive Plan (the “Plan”). Any terms not defined herein shall have the meanings set forth in the Plan. 

2. Vesting. 
 (a) Except as provided in
Sections 3 and 4 below, the Time-Based Units shall vest on the following dates, if the Grantee continues to be employed by the Company or its subsidiaries or affiliates (collectively, the “Employer”) on the applicable dates below
(each individually, a “Vesting Date”): 
  

					
	 Vesting Date
	  	Time-Based Units
Vesting	 
	 %%VEST_DATE_PERIOD1,’Month DD, YYYY’%-% (the “First Vesting Date”)
	  	 	33.33	% 
	 %%VEST_DATE_PERIOD2,’Month DD, YYYY’%-% (the “Second Vesting Date”)
	  	 	33.33	% 
	 %%VEST_DATE_PERIOD3,’Month DD, YYYY’%-% (the “Third Vesting Date”)
	  	 	33.34	% 

 (b) The vesting of the Time-Based Units is cumulative, but shall not exceed 100% of the Time-Based Units. If
the foregoing schedule would produce fractional units, the number of Time-Based Units vesting shall be rounded up to the nearest whole unit, but not in excess of 100% of the Time-Based Units. 

 3. Termination of Employment.  

(a) Except as described below, if the Grantee ceases to be employed by the Employer for any reason prior to the Third Vesting Date, the
unvested Time-Based Units shall be forfeited as of the termination date and shall cease to be outstanding. 
 (b) Subject to Section 4
below, if, prior to the Third Vesting Date, the Grantee ceases to be employed by the Employer (x) on account of death or Long-Term Disability (as defined below), or (y) after ten months following the Date of Grant, on account of “55 /
5” Rule Termination (as defined below) or Involuntary Termination (as defined below) (each, a “Qualifying Termination”), the Grantee shall vest in a pro-rated portion of the outstanding Time-Based Units in accordance with this
Section 3(b), provided such vesting does not result in a violation of any age discrimination or other applicable law: 
 (i) If the
Grantee’s Qualifying Termination occurs prior to the First Vesting Date, the Grantee shall vest in a pro rata portion of the Time-Based Units, as follows: (A) the number of Time-Based Units that would have vested on the First Vesting Date
had the Grantee been employed by the Employer on the First Vesting Date, multiplied by a fraction, the numerator of which is the number of calendar months that elapsed during the period from the Date of Grant through the Qualifying Termination date,
and the denominator of which is 12, plus (B) the number of Time-Based Units that would have vested on the Second Vesting Date had the Grantee been employed by the Employer on the Second Vesting Date multiplied by a fraction, the numerator of
which is the number of calendar months that elapsed during the period from the Date of Grant through the Qualifying Termination date, and the denominator of which is 24, plus (C) the number of Time-Based Units that would have vested on the
Third Vesting Date had the Grantee been employed by the Employer on the Third Vesting Date multiplied by a fraction, the numerator of which is the number of calendar months that elapsed from the Date of Grant through the Qualifying Termination date,
and the denominator of which is 36, rounded up to the nearest whole unit. 
 (ii) If the Grantee’s Qualifying Termination occurs on or
after the First Vesting Date and before the Second Vesting Date, the Grantee shall vest in the Time-Based Units as follows: (A) the number of Time-Based Units that would have vested on the Second Vesting Date had the Grantee been employed by
the Employer on the Second Vesting Date multiplied by a fraction, the number of calendar months that elapsed from the Date of Grant through the Qualifying Termination date, and the denominator of which is 24, plus (B) the number of Time-Based
Units that would have vested on the Third Vesting Date had the Grantee been employed by the Employer on the Third Vesting Date multiplied by a fraction, the numerator of which is the number of calendar months that elapsed from the Date of Grant
through the Qualifying Termination date, and the denominator of which is 36, rounded up to the nearest whole unit. 
 (iii) If the
Grantee’s Qualifying Termination occurs on or after the Second Vesting Date and before the Third Vesting Date, the Grantee shall vest in the number of Time-Based 

  
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Units that would have vested on the Third Vesting Date had the Grantee been employed by the Employer on the Third Vesting Date multiplied by a fraction, the numerator of which is the number of
calendar months that elapsed from the Date of Grant through the Qualifying Termination date, and the denominator of which is 36, rounded up to the nearest whole unit. 

(c) For purposes of the calculations in Section 3(b), the number of calendar months during the period from the Date of Grant through the
Qualifying Termination date will be calculated as the number of calendar months in the period starting with (i) the first calendar month following the month in which the Date of Grant occurs through (ii) the calendar month in which the
Qualifying Termination date occurs, with such final calendar month counting as a full month. The pro-rated Time-Based Units shall be paid within 60 days after the Grantee’s termination date, as described in Section 6. The unvested
Time-Based Units, if any, shall be forfeited as of the termination date and shall cease to be outstanding. 
 (d) If the Grantee ceases to
be employed by the Employer on account of Cause (as defined below), any unpaid Time-Based Units (vested or unvested) shall be forfeited as of the termination date and shall cease to be outstanding. 

4. Change in Control Involuntary Termination. Subject to Section 14 of the Plan, and notwithstanding Section 3 above, if the Grantee has an
Involuntary Termination upon or within two years after a Change in Control, and prior to the Third Vesting Date, the Grantee’s outstanding Time-Based Units shall become fully vested and shall be paid within 60 days after such Involuntary
Termination, as described in Section 6. Notwithstanding the foregoing provisions of this Section 4, if the Grantee has a change in control agreement in effect with the Company, the terms of the change in control agreement and not the
foregoing sentence shall govern the vesting and payment of the Time-Based Units in the event of termination of employment upon, after or in connection with a Change in Control, to the extent that such change in control agreement conflicts with the
terms of these Grant Conditions. 
 5. Definitions. For purposes of these Grant Conditions and the Grant Letter: 

(a) “‘55 / 5’ Rule Termination” shall mean the Grantee’s termination of employment other than for Cause after
the Grantee has attained age 55 and has completed five years of service with the Employer. 
 (b) “Cause” shall mean any of
the following, as determined in the sole discretion of the Employer: (i) commission of a felony or a crime involving moral turpitude; (ii) fraud, dishonesty, misrepresentation, theft or misappropriation of funds with respect to the
Employer; (iii) violation of the Employer’s Code of Conduct or employment policies, as in effect from time to time; (iv) breach of any written noncompetition, confidentiality or nonsolicitation covenant of the Grantee with respect to
the Employer; or (v) gross negligence or misconduct in the performance of the Grantee’s duties with the Employer. 
 (c)
“Involuntary Termination” shall mean the Employer’s termination of the Grantee’s employment other than for Cause. 

(d) “Long-Term Disability” shall mean the Grantee is receiving long-term disability benefits under the Employer’s
long-term disability plan. 

  
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 6. Payment. When Time-Based Units vest, the Company shall cause the Grantee’s employer to make a cash
payment to the Grantee, payable in local currency, equal to the Fair Market Value of the shares of Company Stock underlying the vested Time-Based Units (rounded up to the nearest whole share), subject to applicable withholding for Taxes (as defined
below). The Fair Market Value of the shares shall be determined as of the date immediately before the payment date. Payment shall be made within 60 days after the applicable vesting date. 

7. Dividend Equivalents. Dividend Equivalents shall accrue with respect to Time-Based Units and shall be payable subject to the same vesting terms and
other conditions as the Time-Based Units to which they relate. Dividend Equivalents shall be credited on the Time-Based Units when dividends are declared on shares of Company Stock from the Date of Grant until the payment date for the vested
Time-Based Units. The Company will keep records of Dividend Equivalents in a non-interest bearing cash account for the Grantee. No interest will be credited to any such account. Vested Dividend Equivalents shall be paid in cash at the same time and
subject to the same terms as the underlying vested Time-Based Units. If and to the extent that the underlying Time-Based Units are forfeited, all related Dividend Equivalents shall also be forfeited. 

8. No Shareholder Rights. No shares of Company Stock shall be issued to the Grantee with respect to the Time-Based Units, and the Grantee shall not be,
nor have any of the rights or privileges of, a shareholder of the Company with respect to any Time-Based Units. 
 9. No Right to Continued
Employment. The grant of Time-Based Units shall not confer upon the Grantee any right to continued employment with the Employer or interfere with the right of the Employer to terminate the Grantee’s employment at any time. 

10. Incorporation of Plan by Reference. The Grant Letter and these Grant Conditions are made pursuant to the terms of the Plan, the terms of which are
incorporated herein by reference, and shall in all respects be interpreted in accordance therewith. The decisions of the Management Development and Compensation Committee (the “Committee”) shall be conclusive upon any question
arising hereunder. The Grantee’s receipt of the Time-Based Units constitutes the Grantee’s acknowledgment that all decisions and determinations of the Committee with respect to the Plan, the Grant Letter, these Grant Conditions, and the
Time-Based Units shall be final and binding on the Grantee and any other person claiming an interest in the Time-Based Units.  
 11. Withholding
Taxes. 
 (a) The Employer shall have the right, and the Grantee hereby authorizes the Employer, to deduct from all payments made
hereunder and from other compensation an amount equal to the federal (including FICA), state, local and foreign taxes, social insurance, payroll tax, contributions, payment on account obligations or other amounts required by law to be collected,
withheld or accounted for with respect to the Time-Based Units (the “Taxes”). 
 (b) Regardless of any action the Employer
takes with respect to any such Taxes, the Grantee acknowledges that the ultimate liability for all such Taxes legally due by the Grantee is and remains the Grantee’s responsibility and may exceed the amount actually withheld by the Employer.
The Grantee further acknowledges that the Employer (i) makes no representations or 

  
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undertakings regarding the treatment of any Taxes in connection with any aspect of the Time-Based Units, including the grant, vesting or settlement of the Time-Based Units and the receipt of any
Dividend Equivalents; and (ii) does not commit to structure the terms of the grant or any aspect of the Time-Based Units to reduce or eliminate the Grantee’s liability for Taxes. Further, if the Grantee has become subject to tax in more
than one jurisdiction between the date of grant and the date of any relevant taxable event, the Grantee acknowledges that the Employer (or the Grantee’s former employer, as applicable) may be required to collect, withhold or account for Taxes
in more than one jurisdiction. 
 12. Company Policies. All amounts payable under the Grant Letter and these Grant Conditions shall be subject to any
applicable clawback or recoupment policies, share trading policies and other policies that may be implemented by the Company’s Board of Directors from time to time. 

13. Assignment. The Grant Letter and these Grant Conditions shall bind and inure to the benefit of the successors and assignees of the Company. The
Grantee may not sell, assign, transfer, pledge or otherwise dispose of the Time-Based Units, except to a successor grantee in the event of the Grantee’s death. 

14. Section 409A. The Grant Letter and these Grant Conditions are intended to comply with section 409A of the Code or an exemption, consistent
with Section 20(h) of the Plan. 
 15. Successors. The provisions of the Grant Letter and these Grant Conditions shall extend to any business
that becomes a successor to the Company or its subsidiaries or affiliates on account of a merger, consolidation, sale of assets, spinoff or similar transaction with respect to any business of the Company or its subsidiaries or affiliates with which
the Grantee is employed, and if this grant continues in effect after such corporate event, references to the “Company or its subsidiaries or affiliates” or the “Employer” in the Grant Letter and these Grant Conditions shall
include the successor business and its affiliates, as appropriate. In that event, the Company may make such modifications to the Grant Letter and these Grant Conditions as it deems appropriate to reflect the corporate event. 

16. Governing Law. The validity, construction, interpretation and effect of the Grant Letter and these Grant Conditions shall be governed by, and
determined in accordance with, the applicable laws of the Commonwealth of Pennsylvania, excluding any conflicts or choice of law rule or principle. 
 17.
No Entitlement or Claims for Compensation. In connection with the acceptance of the grant of the Time-Based Units under the Grant Letter and these Grant Conditions, the Grantee acknowledges the following: 

(a) the Plan is established voluntarily by the Company, the grant of the Time-Based Units under the Plan is made at the discretion of the
Committee and the Plan may be modified, amended, suspended or terminated by the Company at any time; 
 (b) the grant of the Time-Based
Units under the Plan is voluntary and occasional and does not create any contractual or other right to receive future grants of Time-Based Units, or benefits in lieu of them, even if Time-Based Units have been granted repeatedly in the past; 

  
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 (c) all decisions with respect to future grants of Time-Based Units, if any, will be at the sole
discretion of the Committee; 
 (d) the Grantee is voluntarily participating in the Plan; 

(e) the Time-Based Units and any payments thereunder are extraordinary items that do not constitute compensation of any kind for services of
any kind rendered to the Employer (including, as applicable, the Grantee’s employer) and which are outside the scope of the Grantee’s employment contract, if any; 

(f) the Time-Based Units and any payments thereunder are not to be considered part of the Grantee’s normal or expected compensation or
salary for any purpose, including, but not limited to, calculating any severance, resignation, termination, payment in lieu of notice, redundancy, end of service payments, bonuses, long-service awards, pension or retirement or welfare benefits or
similar payments; 
 (g) the Time-Based Units and payments thereunder are not intended to replace any pension rights or compensation; 

(h) the grant of Time-Based Units and the Grantee’s participation in the Plan will not be interpreted to form an employment contract or
relationship with the Employer; 
 (i) the future value of the underlying shares of Company Stock is unknown and cannot be predicted with
certainty. The Grantee understands that the Company is not responsible for any foreign exchange fluctuation between the United States Dollar and the Grantee’s local currency that may affect the value of the Time-Based Units; and 

(j) the Grantee shall have no rights, claim or entitlement to compensation or damages as a result of the Grantee’s cessation of
employment (for any reason whatsoever, whether or not in breach of contract or local labor law or the terms of the Grantee’s employment agreement, if any), insofar as these rights, claim or entitlement arise or may arise from the Grantee’s
ceasing to have rights under or be entitled to receive payment under or ceasing to have the opportunity to participate in the Plan as a result of such cessation or loss or diminution in value of the Time-Based Units as a result of such cessation,
and the Grantee irrevocably releases the Employer from any such rights, entitlement or claim that may arise. If, notwithstanding the foregoing, any such right or claim is found by a court of competent jurisdiction to have arisen, then the Grantee
shall be deemed to have irrevocably waived the Grantee’s entitlement to pursue such rights or claim. 
 18. Data Privacy.  

(a) The Grantee hereby explicitly and unambiguously consents to the collection, systematization, accumulation, storage, blocking,
destruction, use, disclosure and transfer, in electronic or other form, of the Grantee’s personal data as described in these Grant Conditions by and among, as applicable, the Grantee’s employer, the Company or its subsidiaries or
affiliates for the exclusive purpose of implementing, administering and managing the Grantee’s participation in the Plan. 

  
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 (b) The Grantee understands that the Grantee’s employer, the Company or its
subsidiaries or affiliates, as applicable, hold certain personal information about the Grantee regarding the Grantee’s employment, the nature and amount of the Grantee’s compensation and the fact and conditions of the Grantee’s
participation in the Plan, including, but not limited to, the Grantee’s name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares of stock or
directorships held in the Company or its subsidiaries or affiliates, and details of all awards in the Grantee’s favor, for the purpose of implementing, administering and managing the Plan (the “Data”). 

(c) The Grantee understands that the Data may be transferred, including any cross-border, transfer to the Company, its subsidiaries
and affiliates and, to any third parties assisting in the implementation, administration and management of the Plan, that these recipients may be located in the Grantee’s country, or elsewhere, and that the recipient’s country may have
different data privacy laws and protections than the Grantee’s country. The Grantee understands that the Grantee may request a list with the names and addresses of any potential recipients of the Data by contacting the Grantee’s local
human resources representative. The Grantee authorizes the recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing the Grantee’s participation
in the Plan, including any requisite transfer of such Data as may be required to a broker or other third party. The Grantee understands that the Data will be held only as long as is necessary to implement, administer and manage the Grantee’s
participation in the Plan. The Grantee understands that the Grantee may, at any time, view the Data, request additional information about the storage and processing of the Data, require any necessary amendments to the Data or refuse or withdraw the
consents herein, in any case without cost, by contacting in writing the Grantee’s local human resources representative. The Grantee understands, however, that refusing or withdrawing the Grantee’s consent may affect the Grantee’s
ability to participate in the Plan. For more information on the consequences of refusal to consent or withdrawal of consent, the Grantee understands that the Grantee may contact the Grantee’s local human resources representative. 

*        *        * 

  
 7

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