Document:

exhibit104

 

 

 

 
1 
EXHIBIT 10.4 
NON-QUALIFIED STOCK OPTION AWARD 
A Non-Qualified Stock 
Option (the “Option”) 
for a total of 
XXX shares of $1.00 
par value per share 
Common Stock (the 
“Stock”) of 
Quaker Chemical Corporation, also known 
as Quaker Houghton, a Pennsylvania 
corporation (the “Company”), is hereby granted 
as of 
MM DD, 
YEAR (the 
“Grant Date”) 
to First 
Name Last 
Name (the 
“Optionee”), 
subject to 
the terms 
and provisions 
of the 
Quaker 
Houghton 2016 Long-Term 
Performance Incentive Plan (the “Plan”) 
insofar as the same are 
applicable to Options granted 
thereunder. 
The terms and provisions 
of the Plan are incorporated 
herein by reference. In 
the event of any inconsistency 
between the terms of 
this 
Agreement and the terms of the Plan, the terms of 
the Plan shall govern. 
 
1.
 
The Option Price as determined by the 
Compensation and Human Resources Committee (the “Committee”) which has 
the authority 
for administering the 
Plan for the 
Company is $XXX.XX 
per share, 
having been determined 
pursuant to Section 
3.2 of the Plan, 
which is equal to 100% of the Fair Market Value 
(as defined in the Plan) of the Stock on the Grant Date. 

 
2.
 
Subject to the 
provisions of Paragraphs 
3 and 4 
hereof, the Option 
may be exercised 
in whole at any 
time or in part 
from time to 
time on or after the 
date the Option, or any 
portion thereof, first becomes exercisable. 
The Option terminates on 
the earlier of the 
date when fully exercised under the provisions of the Plan, the date fixed pursuant to Section 3.7(a), 3.7(b), or 3.7(c) of the Plan, or 
DATE 
. 
 
3.
 
The Option may 
not be exercised 
if the issuance 
of the Stock 
upon such exercise 
would constitute a 
violation of any 
applicable 
Federal or state securities or other law or valid regulation. 
Further, exercise of an Option 
granted pursuant to this Agreement shall 
be under and subject to Paragraph 3.4 of the Plan. 
 
4.
 
The Option shall be exercisable in consecutive and near 
equal installments in accordance with the following Schedule 
: 

 
Non-Qualified Stock Options 
Exercisable on or After 
X,XXX 
VESTING DATE 
1 
X,XXX 
VESTING DATE 
2 
X,XXX 
VESTING DATE 
3 
 
Notwithstanding any provision to 
the contrary, following 
termination of Optionee’s 
employment by the Company 
or a Subsidiary 
of the Company for any reason not 
specified in Sections 3.7(a) or (b) of the Plan, 
the Option shall not be or become exercisable 
as 
to any shares other than those shares as to which the Option shall have been exercisable in accordance with the preceding Schedule 
on the date of such termination. 

 
5.
 
The Option may 
not be transferred 
in any manner 
other than by 
will or the 
laws of descent 
or distribution and 
may be exercised 
during the lifetime of the Optionee 
only by the Optionee, 
pursuant to the terms of the 
Plan. 
The terms of the Option shall 
be binding 
upon the executors, administrators, heirs, successors, and 
assigns of the Optionee. 

 
6.
 
The Option may 
be exercised in 
accordance with such 
procedures as the 
Company may determine 
, 
through 
the Optionee’s 
stock 
plan account with the Plan’s third-party administrator. 
The Optionee may exercise the Option by logging in to the Optionee’s stock 
plan account at 
https://shareworks.solium.com
. The Company 
reserves the right 
to change the 
means of exercising 
options or the 
third-party administrator 
at any time. 
The third-party administrator, 
on behalf of 
the Company, 
shall be 
entitled to withhold 
(or 
secure payment from the Optionee in 
lieu of withholding) the amount 
of any withholding or other 
tax required by law to 
be withheld 
or paid by the Company with respect to the Option 
exercise. 
 
7.
 
Optionee shall have 
none of the rights 
of a shareholder 
with respect to any 
shares of Stock subject 
to the Option, except 
as to the 
shares with respect to 
which Optionee has validly 
exercised the Option granted 
herein and tendered to 
the Company the full price 
therefor. 

 
Quaker Chemical Corporation 
A Quaker Houghton Company 
901 E. Hector Street 
Conshohocken, PA 19428-2380 
T: 610.832.4000 
quakerhoughton.com.

 

 

 
2 
8.
 
Nothing in the Plan or this Agreement 
will be construed as creating any right in the 
Optionee to continued employment or service, 
or as altering or amending the existing terms and conditions 
of the Optionee’s employment 
or service. 
 
9.
 
All notices required 
to be given 
hereunder shall 
be mailed by 
registered or 
certified mail to 
the Company 
to the attention 
of its 
Secretary, at 901 
E. Hector Street, Conshohocken, Pennsylvania 19428, 
and to Optionee at Optionee’s 
address as it appears on the 
Company’s books and 
records unless either of said parties has duly notified the other 
in writing of a change in address. 
 
10.
 
To the 
extent not preempted 
by Federal law, 
this Agreement shall 
be construed, administered 
and governed in 
all respects under 
and by the laws of the Commonwealth of Pennsylvania, 
without giving effect to its conflict of laws principles. 
 
11.
 
This Agreement contains all the 
understandings between the parties 
hereto pertaining to the 
matter referred to herein, and 
supersedes 
all undertakings and 
agreements, whether oral 
or in writing, previously 
entered into by 
them with respect thereto. 
You 
represent 
that, in 
executing this 
Agreement, you 
have not 
relied upon 
any representation 
or statement 
not set 
forth herein 
made by 
the 
Company with regard to the subject matter of this Agreement. 
 
 
 
QUAKER HOUGHTON 
 
 
By: 

 
Michael F. Barry 
 
 
Optionee represents that Optionee is familiar with 
the terms and provisions of the Plan, and 
hereby accepts the Option subject 
to the terms and provisions of 
the Plan insofar as they relate 
to Options granted thereunder. 
Optionee agrees hereby to accept as 
binding, 
conclusive, and final all decisions or 
interpretations of the Committee upon 
any questions arising under the 
Plan or the Option. 
Optionee 
authorizes the Company to withhold in accordance with 
applicable law from any compensation payable to Optionee 
any taxes required 
to be 
withheld by 
Federal, state, 
or local 
law as 
a result 
of the 
exercise of 
the Option. 
Optionee represents 
that, in 
executing this 
Agreement, Optionee has not 
relied upon any representation or 
statement not set forth herein made 
by the Company with regard 
to the 
subject matter of this Agreement. 

 
 
By: 

 
First Name Last Nameexhibit105

 
1 
EXHIBIT 10.5 
RESTRICTED STOCK UNIT AWARD 
The Compensation 
and Human 
Resources Committee 
(the “Committee”) 
of the 
Board of 
Directors of 
Quaker Houghton 
(“the 
Company”) has approved the 
award (the “Award”) 
to First Name Last Name 
(“the Grantee”), of XX Restricted 
Stock Units (“RSUs”) 
under the Quaker 
Houghton 2016 Long-Term 
Performance Incentive Plan 
(the “Plan”). 
Each vested RSU 
entitles Grantee to 
receive 
one share of Common Stock of the 
Company on the Distribution Date. 
Subject to Grantee’s acceptance 
of the terms and conditions of 
this Award 
set forth in this agreement (the “Agreement”), this Award 
is effective as of MM DD, YYYY (the “Effective 
Date”). 

Except as provided herein and in 
the Plan, RSUs subject to 
this Award will vest in a single installment 
on MM DD, YYYY (the 
“Vesting 
Date”) (the period from the Effective Date to 
the Vesting 
Date, the “Restriction Period”). 
The terms and conditions 
of this Award 
are governed by this Agreement 
and the Plan. 
Unless otherwise defined herein, 
terms used in 
this Agreement have the meanings assigned to them in the Plan. 
In the event of any inconsistency between the terms of this Agreement 
and the terms of the Plan, the terms of the Plan shall govern. 
1.
 
As soon as practicable 
after the Effective 
Date of this Award, 
the RSUs will be 
credited to a 
separate account maintained 
by 
the Plan’s third-party administrator 
on Grantee’s behalf. 
2.
 
The RSUs may not be transferred in any manner other than 
by will or the laws of descent or distribution. 
3.
 
The RSUs are not actual shares of Common Stock, and do not 
have voting rights. 
4.
 
Grantee will receive dividend 
equivalents on RSUs. 
On each date that 
the Company pays a 
cash dividend on a 
share of Common 
Stock, the 
Company, 
through the 
Plan’s third 
-party administrator, 
will credit to 
Grantee’s account 
an additional 
number of 
RSUs equal to the total number of RSUs credited to Grantee’s 
account on such date, multiplied by the amount of the per share 
cash dividend, and divided by the Fair Market Value of a share of Common Stock on such date. RSUs credited pursuant to this 
paragraph will be subject to the same terms and conditions 
as the RSUs to which the dividend equivalent rights relate. 
5.
 
Under the Plan, 
unvested RSUs will 
be forfeited immediately 
after Grantee’s 
Termination of 
Service with the 
Company and 
its subsidiaries, unless such termination is due to death or Total Disability or on or after attainment 
of age 60, in which case the 
unvested RSUs will 
vest on the 
date of termi 
nation on a pro 
rata basis (based 
on the number 
of full months 
of active service 
with the Company 
or a subsidiary 
during the Vesting 
Period over the total 
number of full 
months in the 
Vesting 
Period). 
In 
the event of a 
Change in Control which 
occurs before 
Grantee’s Termination 
of Service, all unvested 
RSUs will fully vest 
as 
of the date of such Change in Control. 
6.
 
With respect to 
vested RSUs, a 
corresponding number of 
actual shares of Common 
Stock will be deposited 
into a stock plan 
account established under 
Grantee’s name 
by the Plan’s 
third-party administrator. 
The date of such 
transfer shall be referred 
to as the “Distribution Date.” 
 
7.
 
All distributions to Grantee or to 
Grantee’s beneficiary 
upon vesting of the RSUs hereunder 
will be subject to withholding by 
the Plan’s third-party administrator of amounts sufficient to cover the applicable withholding obligations. 
In the event that any 
required tax withholding upon the settlement of such RSUs exceeds your other compensation 
due from the Company, Grantee 
agrees to remit to 
the Company, 
as a condition to 
settlement of such RSUs, 
such additional amounts 
in cash as are 
necessary 
to satisfy the required withholding. 
Any and all withholding obligations may be settled with shares of 
Common Stock. 
 
Quaker Chemical Corporation 
A Quaker Houghton Company 
901 E. Hector Street 
Conshohocken, PA 19428-2380 
T: 610.832.4000 
quakerhoughton.com.

 

 

 
2 
8.
 
Nothing in 
the Plan 
or this 
Agreement will 
be construed 
as creating 
any right 
in the 
Grantee to 
continued employment 
or 
service, 
or as altering or amending the existing terms and conditions of 
the Grantee’s employment 
or service. 
9.
 
All notices required to be given hereunder shall be mailed by registered or certified mail to the 
Company to the attention of its 
Secretary, at 
901 E. Hector 
Street, Conshohocken, 
Pennsylvania 19428, 
and to Grantee 
at Grantee’s 
address as it appears 
on 
the Company’s books 
and records unless either of said parties has 
duly notified the other in writing 
of a change in address. 
10.
 
To the extent not preempted by Federal 
law, this Agreement shall be construed, administered 
and governed in all respects 
under 
and by the laws of the Commonwealth of Pennsylvania, 
without giving effect to its conflict of laws principles. 
11.
 
This Agreement 
contains all 
the understandings 
between the 
parties hereto 
pertaining to 
the matter 
referred to 
herein, and 
supersedes all undertakings 
and agreements, whether oral 
or in writing, previously 
entered into by them 
with respect thereto. 

Grantee represents 
that, in executing this Agreement, Grantee has not relied upon 
any representation or statement not set forth 
herein made by the Company with regard to the subject 
matter of this Agreement. 
 
QUAKER HOUGHTON 
 
 
 
BY: 

 
Michael F. Barry 
 
 
 
Grantee represents that Grantee is familiar with the terms and provisions of the Plan, and hereby accepts this Award 
subject to 
the terms and 
provisions of the 
Plan insofar as 
they relate to 
RSUs granted thereunder. 
Grantee agrees 
hereby to accept 
as binding, 
conclusive, and final all decisions or interpretations of the Committee upon 
any questions arising under the Plan or this Grant. 
Grantee 
authorizes the Company 
to withhold in accordance 
with applicable law from 
any compensation payable 
to Grantee any taxes 
required 
to be withheld by 
Federal, state, or local 
law as a 
result of the 
vesting of this Award. 
Grantee represents that, in 
executing this Agreement, 
Grantee has not relied upon any representation or statement not set forth herein made by the Company with regard 
to the subject matter 
of this Agreement. 

 
 
 
 
By: 

 
First Name Last Name

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