Document:

Exhibit 10.4

    Exhibit 10.4

    

      Second
        Amended and Restated Cabot Microelectronics Corporation 2000 Equity Incentive
        Plan

      Non-Qualified
        Stock Option Grant Agreement

      (United
        States Employees)

      

      

      

      

      GRANT
        DATE

      

      NAME

      ADDRESS

      CITY,
        STATE ZIP

      

      Dear
        FIRST
        NAME:

       

      I
        am
        pleased to inform you (the “Participant”) that the Compensation Committee of the
        Board of Directors (the “Committee”) of Cabot Microelectronics Corporation (the
“Company”) has approved your participation in the Second Amended and Restated
        Cabot Microelectronics Corporation 2000 Equity Incentive Plan, as amended
        and
        restated September 26, 2006 (the "Plan"). A Non-Qualified Stock Option (“NQSO”)
        award (the “Award”) is hereby granted to the Participant pursuant to the terms
        of the Plan and this Non-Qualified Stock Option Agreement (the “Agreement”). A
        copy of the Plan can be electronically accessed through the CMC world directory
        under “HR Information/Stock/General Plan Information”.

       

      
        	
                 

                PARTICIPANT

              	
                 

                Type
                  of Grant

              	
                Number
                  of Option Shares Granted

              	
                Exercise
                  Price Per Share on [grant
                  date]

              	
                Participant
                  ID Number

              
	
                 

                 

                 

                NAME

                 

              	
                 

                Non-qualified
                  Stock Option

              	
                 

                [____]

              	
                $XX.XX

                [general:
                  grant date (GD) fmv/close price]

              	
                 

                XXX-XX-XXXX

              
	
                 

                Grant
                  Date 

                 

              	
                 

                Vesting
                  Dates [general]

              	
                 

                Expiration
                  Date 

                 

              	
                 

                Grant
                  Number

              
	
                 

                [date
                  of grant]

                 

              	
                25% 1stanniv.
                  GD

                25% 2danniv.
                  GD

                25% 3danniv.
                  GD

                25% 4thanniv.
                  GD

              	
                 

                DATE
                  [general: tenth anniv. GD]

              	
                 

                000000XXXX

              

      

      

      This
        Agreement provides the Participant with the terms of the option (the “Option”)
        granted to the Participant. The Option is not intended to qualify as an
        incentive stock option pursuant to Section 422 of the Internal Revenue Code
        (the
“Code”). The terms specified in this Agreement are governed by the provisions of
        the Plan, which are incorporated herein by reference. The Committee has the
        exclusive authority to interpret and apply the Plan and this Agreement.
Any
        interpretation of the Agreement by the Committee and any decision made by
        it
        with respect to the Agreement are final and binding on all persons. To the
        extent that there is any conflict between the terms of this Agreement and
        the
        Plan, the Plan shall govern. Capitalized terms used herein will have the
        same
        meaning as under the Plan, unless stated otherwise.

      

      In
        consideration of the foregoing and the mutual covenants hereinafter set forth,
        it is agreed by and between the Company and the Participant as follows:

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            NAME
              -
              employee (including executive officer) NQSO Grant Agreement 

            GRANT
              DATE Page 2
              of 6

          

        

      

      
        	
                1.

              	
                Vesting
                  and Exercise.
                  The Award shall become vested and exercisable in accordance with
                  the
                  following table:

              

      

      
        	
                Installment

              	
                Vesting
                  Date Applicable to Installment [general]

              
	
                25%

                25%

                25%

                25%

              	
                [1st
                  anniv. GD]

                [2d
                  anniv. GD]

                [3d
                  anniv. GD]

                [4th
                  anniv. GD]

              

      

       

      The
        Award
        will be fully vested and exercisable in the event of a Change in Control,
        as
        defined in the Plan. In the event of a Change in Control that constitutes
        a
        Covered Transaction (as defined in Section 7.3(c) of the Plan), the Committee
        may, in its sole discretion, terminate any or all outstanding Options as
        of the
        effective date of the Covered Transaction;
        provided that the Committee may not terminate an Option outstanding under
        this
        Agreement earlier than 20 days following the later of (i) the date on which
        the
        Award became fully exercisable, and (ii) the date on which the Participant
        received written notice of the Covered Transaction. 

      

      
        	 	
                Unless
                  otherwise provided in this Agreement or the Plan, if the date of
                  Participant’s termination of Service with the Company, as defined in the
                  Plan, precedes the relevant Vesting Date, an installment shall
                  not vest on
                  the otherwise applicable Vesting Date and all Options subject to
                  such
                  installment shall immediately terminate as of the date of such
                  termination
                  of Service.

              

      

       

      
        	
                2.

              	
                Termination
                  / Cancellation / Rescission.
                  The Company may terminate, cancel, rescind or recover an Award
                  immediately
                  under certain circumstances, including, but not limited to, the
                  Participant’s:

              

      

      

      	(a)  	
              actions
                constituting Cause, as defined in the Plan and as otherwise enforceable
                under local law;

            

      

      (b) rendering
        of services for a competitor prior to, or within six (6) months after, the
        exercise of any Option or the termination of Participant's Service with the
        Company; 

      

      (c) unauthorized
        disclosure of any confidential/proprietary information of the Company to
        any
        third party; 

      

      (d) failure
        to comply with the Company’s policies regarding the identification, disclosure
        and protection of intellectual property; 

       

      (e) violation
        of the Cabot Microelectronics Corporation Employee Confidentiality, Intellectual
        Property and Non-Competition Agreement.

      

      
        	 	
                In
                  the event of any such termination, cancellation, rescission or
                  revocation,
                  the Participant must return any Stock obtained by the Participant
                  pursuant
                  to the Award, or pay to the Company the amount of any gain realized
                  on the
                  sale of such Stock, and the Company shall be entitled to set-off
                  against
                  the amount of any such gain any amount owed to the Participant
                  by the
                  Company. To the extent applicable, the purchase price for such
                  Stock shall
                  be returned to the Participant, including any withholding requirements.
                  

              

      

      

      
        	
                3.

              	
                Purpose
                  of Award.
                  The Award is intended to promote goodwill between the Participant
                  and the
                  Company and shall not be considered as salary or other remuneration
                  for
                  any employment or other services the Participant may perform for
                  the
                  Company or any of its affiliates. The Company’s grant of the Option does
                  not confer any contractual or other rights of employment or service
                  with
                  the Company. Benefits granted under the Plan shall not be considered
                  as
                  part of the Participant’s salary in the event of severance, redundancy or
                  resignation. Granting of the Award shall also not be construed
                  as creating
                  any right on the part of Participant to receive any additional
                  benefits
                  including awards in the future, it being expressly understood and
                  agreed
                  that any future awards shall be made solely at the discretion of
                  the
                  Company. 

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            NAME
              -
              employee (including executive officer) NQSO Grant Agreement 

            GRANT
              DATE Page
              3 of 6

          

        

      

       

      
        	
                4.

              	
                Expiration.
                  The Option, including vested Options, shall not be exercisable
                  after the
                  Company’s close of business on the last business day that occurs on or
                  prior to the Expiration Date. The “Expiration Date” shall be the
                  earliest
                  to
                  occur of:

              

      

      

      	(a)  	
              [general:
                tenth anniv. GD];
                

            

      

      
        	 	
                (b)

              	
                If
                  the Participant’s termination of Service occurs by reason of death or
                  Disability, the three (3) year anniversary of the date of such
                  termination
                  or the ten (10) year anniversary of the Grant Date, whichever is
                  sooner.
                  In such case of termination of Service occurring by reason of death
                  or
                  Disability, then any unvested portion of the Option shall be fully
                  vested
                  and exercisable as of such date of termination. For purposes hereof,
                  “Disability” shall have the meaning provided under: (i) first, an
                  employment agreement between the Participant and the Company; (ii)
                  second,
                  if no such employment agreement exists, the long-term disability
                  program
                  maintained by the Company or any governmental entity covering the
                  Participant; or (iii) third, if no such agreement or program exists,
                  permanent and total disability within the meaning of Section 22
                  (e)(3) of
                  the Code;

              

      

      

      
        	 	
                (c)

              	
                If
                  the Participant’s termination of Service occurs by reason of Cause, the
                  date preceding the date of such
                  termination;

              

      

      

      
        	 	
                (d)

              	
                If
                  the Participant’s termination of Service occurs by reason of Change in
                  Control, three (3) months after the date of such termination;
                  

              

      

      

      (e)
        If
        the Participant’s termination of Service occurs by reason of Retirement, all
        Options vested and exercisable as of the date of such termination will remain
        exercisable until the ten (10) year anniversary of the Grant Date. For purposes
        hereof, “Retirement” shall mean the termination of the Participant’s Service
        following the Participant’s attainment of at least (i) five years of employment
        with the Company and
        (ii) 55
        years of age, provided,
        however,
        that
        the Participant’s termination of Service will not be deemed to have occurred by
        reason of Retirement if the Participant’s Service has been terminated by reason
        of Cause, as determined by the Company in its sole discretion; or

      

      
        	 	
                (f)

              	
                If
                  the Participant’s termination of Service is for any reason other than (b),
                  (c), (d) or (e) above, all Options vested and exercisable as of
                  the date
                  of termination will remain exercisable for one (1) month after
                  the
                  termination date, after which all unexercised Options are terminated.
                  

              

      

      

      In
        the
        event that the Participant dies on or following the Participant’s termination
        date and prior to the Expiration Date without having fully exercised the
        Participant’s Options, then the authorized representative of the Participant’s
        estate shall be entitled to exercise the Award within such limits specified
        in
        subparagraphs (b), (d) or (e).

      

      To
        the
        extent that the Participant does not exercise the Option to the extent the
        Participant is entitled within the time specified in subparagraphs (a), (b),
        (d)
        or (e) above, the Option shall immediately terminate. 

      

      5.
        Method
        of Option Exercise.
        Subject
        to the terms of this Agreement and the Plan, the Participant may exercise,
        in
        whole or in part, the vested portion of the Option at any time by complying
        with
        any exercise procedures established by the Company in its sole discretion.
        The
        Participant shall pay the exercise price for the portion of the Option being
        exercised to the Company in full, at the time of exercise, either: 

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            NAME
              -
              employee (including executive officer) NQSO Grant Agreement 

            GRANT
              DATE Page
              4 of 6

          

        

      

       

      	(a)  	
              in
                cash;

            

       

      	(b)  	
              in
                shares of Stock having a Fair Market Value equal to the aggregate
                exercise
                price for the shares of Stock being purchased and satisfying such
                other
                requirements as may be imposed by the Committee; provided, that,
                such
                shares of Stock have been held by the Participant for no less than
                six
                months;

            

       

      	(c)  	
              partly
                in cash and partly in such shares of Stock;
                or

            

       

      	(d)  	
              through
                the delivery of irrevocable instructions to a broker to deliver promptly
                to the Company an amount equal to the aggregate exercise price for
                the
                shares of Stock being purchased (“cashless exercise”).
                

            

       

      Anything
        to the contrary herein notwithstanding, the Option cannot be exercised and
        the
        Company shall not be obligated to issue any shares of Stock hereunder if
        the
        Company determines that the issuance of such shares would violate the provision
        of any applicable law, including the rules and regulations of any securities
        exchange on which the Stock is traded. Please refer to Section 6.2(d) of
        the
        Plan for additional information.

       

      	6.  	
              Taxes. 

            

      

      (a) All
        deliveries and distributions under this Agreement are subject to withholding
        of
        all applicable taxes based on country specific tax requirement. Please refer
        to
        electronic copy of “Taxes” for your individual circumstances based on your
        location. The various methods and manner by which the tax withholding may
        be
        satisfied are set forth in Section 8.4 of the Plan. If the Participant is
        subject to Section 16 (an “Insider”), of the Securities Exchange Act of 1934
        (“Exchange Act”) and other securities laws, any surrender of previously owned
        shares to satisfy tax withholding obligations arising upon exercise of an
        Option
        must comply with the requirements of Rule 16b-3 promulgated under the Exchange
        Act (“Rule 16b-3”) and other relevant rules and regulations.

      

      (b) If
        the
        Fair Market Value of a share of stock on the date the Participant exercises
        the
        Option is greater than the Exercise Price, the Participant will be taxed
        on the
        difference multiplied by the number of shares purchased with cash at the
        date of
        exercise. This income is taxed as ordinary income and subject to various
        withholding taxes. The Company is required to withhold and remit these taxes
        to
        the appropriate tax authorities. If the exercise of the Option results in
        no
        cash payment to the Participant from which the Company could withhold the
        income
        and FICA taxes, the Participant will be required to provide the Company with
        an
        amount of cash sufficient to satisfy the Participant’s tax withholding
        obligations or to make arrangements satisfactory to the Company with regard
        to
        such taxes, which in most instances can be done through the services provided
        by
        a broker. If the Participant does not pay the amount of required withholding
        to
        the Company, the Company will withhold from the shares delivered or from
        other
        amounts payable to the Participant, the minimum amount of funds required
        to
        cover all applicable federal, state and local income and employment taxes
        required to be withheld by the Company by reason of such exercise of the
        Option.
        The income will be reported to the Participant as part of the Participant’s
        employment compensation on the Participant’s annual earnings statement.

       

      (c) If
        the
        Participant sells the shares acquired under the Option, a long-term or
        short-term capital gain or loss may also result depending on: (i) the
        Participant’s holding period for the shares, and (ii) the difference between the
        Fair Market Value of the shares at the time of the sale and the Participant’s
        tax basis in the shares. The holding period is determined from the date the
        Option is exercised. Under current law, the capital gain or loss is long
        term if
        the property is held for more than one year, and short term if the property
        is
        held for less than one year. If the Exercise Price of an Option is paid in
        cash,
        the tax basis of the shares thereby acquired is the sum of (i) the Exercise
        Price paid for the shares, and (ii) the ordinary income, if any, determined
        by
        the difference between the Fair Market Value of the shares when exercised
        and
        the Exercise Price. 

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            NAME
              -
              employee (including executive officer) NQSO Grant Agreement 

            GRANT
              DATE Page 5
              of 6

          

        

      

       

      
        	 	
                EACH
                  PARTICIPANT IS URGED TO REVIEW THE U.S. TAX COMMUNICATION INFORMATION
                  AND
                  TO CONSULT WITH HIS OR HER OWN TAX ADVISOR TO DETERMINE THE PARTICULAR
                  TAX
                  CONSEQUENCES INCLUDING THE APPLICABILITY AND EFFECT OF FEDERAL,
                  LOCAL AND
                  OTHER TAX LAWS.

              

      

      

      
        	
                7.

              	
                Transferability.
                  The
                  Option is not transferable other than: (a) by will or by the laws
                  of
                  descent and distribution; (b) pursuant to a domestic relations
                  order; or
                  (c) to members of the Participant’s immediate family, to trusts solely for
                  the benefit of such immediate family members or to partnerships
                  in which
                  family members and/or trusts are the only partners, all as provided
                  under
                  the terms of the Plan. After any such transfer, the Option shall
                  remain
                  subject to the terms of the Plan.

              

      

      

      
        	
                8.

              	
                Adjustment
                  of Shares.
                  In the event of any transaction described in Section 8.6 of the
                  Plan, the
                  terms of this Option (including, without limitation, the number
                  and kind
                  of shares subject to this Option and the Exercise Price) shall
                  be adjusted
                  as set forth in Section 8.6 of the
                  Plan.

              

      

      

      
        	
                9.

              	
                Shareholder
                  Rights.
                  Participant shall have no rights as a stockholder with respect
                  to any
                  shares of Stock subject to the Option until the Option is exercised
                  and
                  the shares are issued and transferred on the books of the Company
                  to the
                  Participant. No adjustment shall be made for dividends, distributions
                  or
                  other rights for which the record date is prior to such date, except
                  as
                  provided under the Plan. 

              

      

      
        	 	 

        	
                10.

              	
                Data
                  Privacy.
                  In order to perform its requirements under this Plan, the Company
                  may
                  process sensitive personal data about the Participant. Such data
                  includes
                  but is not limited to the information provided in this grant package
                  and
                  any changes thereto, other appropriate personal and financial data
                  about
                  the Participant, and information about the Participant’s participation in
                  the Plan and shares exercised under the Plan from time to time.
                  By signing
                  the attached acceptance form, the Participant hereby gives explicit
                  consent to the Company to process any such data. The Participant
                  also
                  hereby gives explicit consent to the Company to
                  transfer any personal data outside the country in which the Participant
                  is
                  employed and to the United States. The legal persons for whom the
                  personal
                  data is intended includes the Company and any of its subsidiaries,
                  the
                  outside plan administrator as selected by the Company from time
                  to time
                  and any other person that the Company may find appropriate in its
                  administration of the Plan. The Participant may review and correct
                  any
                  personal data by contacting his local Human Resources Representative.
                  The
                  Participant understands that the transfer of the information outlined
                  here
                  is important to the administration of the Plan and failure to consent
                  to
                  the transmission of such information may limit or prohibit participation
                  in the Plan.

              

      

      

      
        	
                11.

              	
                Severability.
                  In the event that any provision of this Agreement is found to be
                  invalid,
                  illegal or incapable of being enforced by any court of competent
                  jurisdiction for any reason, in whole or in part, the remaining
                  provisions
                  of this Agreement shall remain in full force and effect to the
                  fullest
                  extent permitted by law.

              

      

      

      
        	
                12.

              	
                Waiver.
                  Failure to insist upon strict compliance with any of the terms
                  and
                  conditions of this Agreement or the Plan shall not be deemed a
                  waiver of
                  such term or condition.

              

      

      

      
        	
                13.

              	
                Notices.
                  Any notices provided for in this Agreement or the Plan must be
                  in writing
                  and hand delivered, sent by fax or overnight courier, or by postage
                  paid
                  first class mail. Notices are to be sent to the Participant at
                  the address
                  indicated by the Company’s records and to the Company at its principal
                  executive office.

              

      

      

      
        	
                14.

              	
                Governing
                  Law.
                  This Agreement shall be construed under the laws of the State of
                  Illinois.

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            NAME
              -
              employee (including executive officer) NQSO Grant Agreement 

            GRANT
              DATE Page 6
              of 6

          

        

      

      

      IN
        WITNESS WHEREOF, the Company has caused this Agreement to be executed in
        its
        name and on its behalf, all as of the Grant Date.

       

       

                              CABOT
        MICROELECTRONICS CORPORATION

       

                              /s/
        William P. Noglows 

       

                              William
        P. Noglows

                              Chairman
        and Chief Executive OfficerExhibit 10.5

    Exhibit 10.5

    

    Second
      Amended and Restated 

    Cabot
      Microelectronics Corporation 2000 Equity Incentive Plan

    Restricted
      Stock Award Agreement 

    (United
      States Employees)

     

    

     

    AWARD
      DATE

    

    NAME

    ADDRESS

    CITY,
      STATE ZIP

    

    Dear
      FIRST
      NAME:

    

    I
      am
      pleased to inform you that the Compensation Committee of the Board of Directors
      (the “Committee”) of Cabot Microelectronics Corporation (the “Company”) has
      approved your participation in the Second Amended and Restated Cabot
      Microelectronics Corporation 2000 Equity Incentive Plan, as amended and restated
      September 26, 2006
      (the
      "Plan") as a means of allowing you to participate in the success of the Company
      through ownership of Company common stock (“Stock”). A Restricted Stock Award
      (the “Award”) is hereby awarded to you (the “Participant”) pursuant to the terms
      of the Plan and this Restricted Stock Agreement (the “Agreement”). A copy of the
      Plan can be electronically accessed through the CMC world directory under “HR
      Information/Stock/General Plan Information.” 

    

    
      	
               

              Participant

            	
               

              Type
                of Award

            	
               

              Number
                of Restricted Shares Awarded

            	
               

              Fair
                Market Value of Restricted Shares on Date of
                Award

            	
               

              Participant
                ID Number

            
	
              NAME

            	
              Restricted
                Stock

            	
              [_________]

            	
              $XX.XX

              [general:
                award date (AD) fmv/close price]

            	
              [xxx-xx-xxxx]

            
	
               

              Date
                of Award

            	
               

              Date
                Restrictions Lapse (Vesting Date(s))

              [general]

            	
               

              Award
                Number

            	 
	
              [award
                date]

            	
              25%1stanniv.
                AD

              25%2danniv.
                AD

              25%3danniv.
                AD

              25%4thanniv.
                AD

            	
              [xxxxx]

            

    

    

    

    
      
         

      

      
         

        
          

        

      

      
        
          NAME
            -
            employee (including executive officer) Restricted Stock Award Agreement
            

          Award
            DATE Page
            2 of 5

        

      

       

    

    This
      Agreement provides the Participant with the terms of the Award granted to the
      Participant. The terms specified in this Agreement are governed by the
      provisions of the Plan, which are incorporated herein by reference. The
      Committee has the exclusive authority to interpret and apply the Plan and this
      Agreement. Any
      interpretation of the Agreement by the Committee and any decision made by it
      with respect to the Agreement are final and binding on all persons. To the
      extent that there is any conflict between the terms of this Agreement and the
      Plan, the Plan shall govern. Capitalized terms used herein will have the same
      meaning as under the Plan, unless stated otherwise.

    

    In
      consideration of the foregoing and the mutual covenants hereinafter set forth,
      it is agreed by and between the Company and the Participant, as follows:

     

    
      	1.  	
              Vesting
                Dates and Lapse of Restrictions.
                The Award shall become vested and the restrictions will lapse in
                accordance with the following
                table:

            

    

    

    
      	
               

              Number
                of Shares

              [general]

            	
               

              Vesting
                Date

              [general]

            
	
              25%

              25%

              25%

              25%

            	
              [1st
                anniv. AD]

              [2d
                anniv. AD]

              [3d
                anniv. AD]

              [4th
                anniv. AD]

            

    

     

    The
      Award
      will be fully vested and all restrictions shall lapse in the event of the
      Participant’s death, Disability or a Change in Control, as defined in the Plan.
      Upon the Participant’s termination of Service, as defined in the Plan, for any
      reason other than death or Disability, the Participant shall immediately cease
      vesting in the Award and the unvested portion of the Award shall be forfeited
      immediately.

    

    For
      purposes hereof, “Disability” shall have the meaning provided under: (i) first,
      an employment agreement between the Participant and the Company; (ii) second,
      if
      no such employment agreement exists, the long-term disability program maintained
      by the Company or any governmental entity covering the Participant; or (iii)
      third, if no such agreement or program exists, as defined under local law.
      In
      addition, for purposes of this Agreement, the Participant’s date
      of
      termination (for any reason other than death or Disability) shall be the earlier
      of: (i) the date on which the Participant ceases to render service to or be
      employed by the Company, as determined by the Company in its sole discretion;
      (ii) the date on which the Company first provides notice of termination of
      employment; or (iii) the first date of any statutory notice period provided
      under local law.

    

    
      	2.  	
              Termination
                / Cancellation / Rescission.
                The Company may terminate, cancel, rescind or recover the Award
                immediately under certain circumstances, including, but not limited
                to,
                the Participant’s: 

            

    

    

    
      	(a)  	
              actions
                constituting Cause, as defined in the Plan and as otherwise enforceable
                under local law;

            

    

    

    
      	(b)  	
              rendering
                of services for a competitor prior to, or within six (6) months after,
                the
                exercise of any Award or the termination of Participant's Service
                with the
                Company; 

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

        
          NAME
            -
            employee (including executive officer) Restricted Stock Award Agreement
            

          Award
            DATE Page
            3 of 5

        

      

    

     

    
      	(c)  	
              unauthorized
                disclosure of any confidential/proprietary information of the Company
                to
                any third party; 

            

    

     

    
      	(d)  	
              failure
                to comply with the Company’s policies regarding the identification,
                disclosure and protection of intellectual property;
                

            

    

    

    
      	(e)  	
              violation
                of the Cabot Microelectronics Corporation Employee Confidentiality,
                Intellectual Property and Non-Competition
                Agreement.

            

    

    

    In
      the
      event of any such termination, cancellation, rescission or revocation, the
      Participant must return any Stock obtained by the Participant pursuant to the
      Award, or pay to the Company the amount of any gain realized on the sale of
      such
      Stock, and the Company shall be entitled to set-off against the amount of any
      such gain any amount owed to the Participant by the Company. To the extent
      applicable, the purchase price for such Stock shall be returned to the
      Participant, including any withholding requirements. 

    

    
      	3.  	
              Purpose
                of Award.
                The Award is intended to promote goodwill between the Participant
                and the
                Company and shall not be considered as salary or other remuneration
                for
                any employment or other services the Participant may perform for
                the
                Company or any of its affiliates. The Company’s grant of the Award does
                not confer any contractual or other rights of employment or service
                with
                the Company. Benefits granted under the Plan shall not be considered
                as
                part of the Participant’s salary in the event of severance, redundancy or
                resignation. Granting of the Award shall also not be construed as
                creating
                any right on the part of Participant to receive any additional benefits
                including awards in the future, it being expressly understood and
                agreed
                that any future awards shall be made solely at the discretion of
                the
                Company. 

            

    

     

    
      	4.  	
              Rights
                and Restrictions Governing Restricted Stock.
                As of the Date of Award, one or more certificates representing the
                appropriate number of shares of Stock granted to the Participant
                shall be
                registered in the Participant’s name but shall be held by the Company for
                the Participant’s account. The Participant shall have all rights of a
                holder as to such shares of Stock (including, to the extent applicable,
                the right to receive dividends and to vote), subject to the following
                restrictions: (a) the Participant has executed a valid stock power
                on
                behalf of the Company for such Stock; (b) the Participant shall be
                entitled to delivery of certificates representing shares of Stock
                when
                restrictions lapse; and (c) none of the Stock may be sold, transferred,
                assigned, pledged or otherwise encumbered or disposed of until the
                restrictions have lapsed.

            

    

    

    
      	5.  	
              Delivery
                of Restricted Stock.
                As soon as reasonably practicable following the date on which restrictions
                lapse, one or more stock certificates for the appropriate number
                of shares
                of Stock, free of the restrictions set forth in the Agreement, shall
                be
                delivered to the Participant or such shares shall be credited to
                a
                brokerage account if the Participant so directs; provided however,
                that
                such certificates shall bear such legends as the Committee, in its
                sole
                discretion, may determine to be necessary or advisable in order to
                comply
                with applicable federal and state securities
                laws.

            

    

    

    
      
         

      

      
         

        
          

        

      

      
         

        
          NAME
            -
            employee (including executive officer) Restricted Stock Award Agreement
            

          Award
            DATE Page 4
            of 5

        

      

    

     

    
      	6.  	
              Tax
                Treatment.
                The Participant will be taxed on the difference between any purchase
                price
                and the Fair Market Value of the Stock on the date the restrictions
                lapse.
                This income will be taxed as ordinary income and subject to income
                and
                FICA withholding taxes. The Company is required to withhold and remit
                these taxes to the appropriate tax authorities. The Participant will
                be
                required to provide the Company with an amount of cash sufficient
                to
                satisfy the Participant’s tax withholding obligations or to make
                arrangements satisfactory to the Company with regard to such taxes.
                The
                income will be reported to the Participant as part of the Participant's
                employment compensation on the Participant's annual earnings statement
                Form W-2. 

            

    

    

    The
      Participant may elect to make an election under Section 83(b) of the Code to
      have any ordinary income amount taxed currently, before any restrictions lapse.
      This election must be filed within thirty (30) days of the Date of Award.
      Attached hereto is a form of election for this purpose.

    

    If
      the
      Participant sells the Stock acquired under the Award, a long-term or short-term
      capital gain or loss will result depending on: (a) the holding period for the
      shares, and (b) the difference between the Fair Market Value of the shares
      at
      the time of the sale and the Participant’s tax basis in the shares. The holding
      period is determined from the date the restrictions lapse. Under current law
      the
      capital gain or loss is long term if the property is held for more than one
      (1)
      year, and short term of the property is held for less than one year. The tax
      basis of the shares is the sum of (a) any purchase price paid for the shares,
      and (b) the ordinary income, if any, determined by the difference between the
      Fair Market Value of the shares when the restrictions lapse or an 83(b) election
      is made, and any purchase price. 

    

    EACH
      PARTICIPANT IS URGED TO CONSULT WITH HIS OR HER OWN TAX ADVISOR TO DETERMINE
      THE
      PARTICULAR TAX CONSEQUENCES INCLUDING THE APPLICABILITY AND EFFECT OF FEDERAL,
      LOCAL AND OTHER TAX LAWS.

    

    
      	
              7.

            	
              Tax
                Withholding.
                All deliveries and distributions under this Agreement are subject
                to
                withholding of all applicable taxes. The various methods and manner
                by
                which tax withholding may be satisfied are set forth in Section 8.4
                of the
                Plan. If the Participant is subject to Section 16 (an “Insider”), of the
                Securities Exchange Act of 1934 (“Exchange Act”), any surrender of
                previously owned shares to satisfy tax withholding obligations arising
                under an Award must comply with the requirements of Rule 16b-3 promulgated
                under the Exchange Act (“Rule
                16b-3”).

            

    

    

    
      	
              8.
                

            	
              Transferability.
                The Award Stock is not transferable other than: (a) by will or by
                the laws
                of descent and distribution; (b) pursuant to a domestic relations
                order;
                or (c) to members of the Participant’s immediate family, to trusts solely
                for the benefit of such immediate family members or to partnerships
                in
                which family members and/or trusts are the only partners, all as
                provided
                under the terms of the Plan. After any such transfer, the Award Stock
                shall remain subject to the terms of the
                Plan.

            

    

    

    
      	
              9.

            	
              Adjustment
                of Shares.
                In the event of any transaction described in Section 8.6 of the Plan,
                the
                terms of this Award (including, without limitation, the number and
                kind of
                shares subject to this Award) shall be adjusted as set forth in Section
                8.6 of the Plan.

            

    

    

    
      
         

      

      
         

        
          

        

      

      
         

        
          NAME
            -
            employee (including executive officer) Restricted Stock Award Agreement
            

          Award
            DATE Page 5
            of 5

        

      

    

     

    
      	
              10.

            	
              Severability.
                In the event that any provision of this Agreement is found to be
                invalid,
                illegal or incapable of being enforced by any court of competent
                jurisdiction for any reason, in whole or in part, the remaining provisions
                of this Agreement shall remain in full force and effect to the fullest
                extent permitted by law.

            

    

    

    
      	
              11.

            	
              Waiver.
                Failure to insist upon strict compliance with any of the terms and
                conditions of this Agreement or the Plan shall not be deemed a waiver
                of
                such term or condition.

            

    

    

    
      	
              12.

            	
              Notices.
                Any notices provided for in this Agreement or the Plan must be in
                writing
                and hand delivered, sent by fax or overnight courier, or by postage
                paid
                first class mail. Notices are to be sent to the Participant at the
                address
                indicated by the Company’s records and to the Company at its principal
                executive office.

            

    

    

    
      	
              13.

            	
              Governing
                Law.
                This Agreement shall be construed under the laws of the State of
                Illinois.

            

    

    

    IN
      WITNESS WHEREOF, the Company has caused this Agreement to be executed in its
      name and on its behalf, all as of the Date of Award.

     

                                CABOT
      MICROELECTRONICS CORPORATION

     

                            /s/
      William P.
      Noglows

     

                                William
      P.
      Noglows

                                President
      and Chief
      Executive Officer

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