Document:

EX-10.3

 Exhibit 10.3 

AERIE PHARMACEUTICALS, INC. 

2013 OMNIBUS INCENTIVE PLAN 

RESTRICTED STOCK AGREEMENT 
 THIS
AGREEMENT (this “Agreement”) effective as of the date of grant set forth on the signature page hereto (the “Date of Grant”), is between Aerie Pharmaceuticals, Inc., a Delaware corporation (together with its
successors, the “Company”), and the individual whose name is set forth on the signature page hereto (the “Grantee”). 
 1.
Grant of Restricted Stock. The Company hereby grants to the Grantee, and the Grantee hereby accepts from the Company, the number of shares of Restricted Stock set forth on the signature page hereto (subject to adjustment as provided in
Section 12.1 of the Aerie Pharmaceuticals, Inc. 2013 Omnibus Incentive Plan (the “Plan”)), on the terms and conditions set forth in this Agreement and the Plan, a copy of which is being delivered to the Grantee concurrently
herewith and is made a part hereof as if fully set forth herein. Except as otherwise defined herein, capitalized terms used in this Agreement shall have the same definitions as set forth in the Plan. 

2. Rights of Grantee. The Grantee shall have all of the rights of a shareholder with respect to the shares of Restricted Stock (whether or not the
restrictions thereon shall have lapsed), including the right to vote the shares of Restricted Stock and the right, subject to Section 6 hereof, to receive dividends thereon) once (a) the Company has issued the shares to the Grantee, and
(b) the Grantee’s name has been entered as a shareholder of record on the books of the Company. Notwithstanding the foregoing, prior to the vesting of the shares of Restricted Stock pursuant to Section 3 hereof, the Grantee shall not
be entitled to transfer, sell, pledge, hypothecate or assign the shares of Restricted Stock (collectively, the “Transfer Restrictions”) and the shares of Restricted Stock shall be subject to forfeiture as provided in Section 5
hereof. 
 3. Vesting and Lapse of Restrictions. Except as otherwise provided herein, the Transfer Restrictions on the shares of Restricted Stock
shall lapse and the shares of Restricted Stock granted hereunder shall vest, with respect to 25% of the shares of Restricted Stock beginning on the first anniversary of the Vesting Commencement Date (set forth on the signature page attached hereto)
and to an additional 25% of the shares on each of the next three anniversaries of the Vesting Commencement Date thereafter (each, a “Vesting Date”), provided that the Grantee continues in employment on each respective Vesting Date.

 4. Issuance of Shares. Subject to Section 7.11, the shares of Restricted Stock shall be issued to the Grantee, either by book entry
registration or issuance of a stock certificate, but in no event shall shares of Restricted Stock be delivered to the Grantee prior to the date the shares have become vested and the Transfer Restrictions have lapsed pursuant to Section 3
hereof. 
 5. Employment Termination. Except as provided in the next sentence, in the event the Grantee’s employment Terminates, the Grantee
shall forfeit all shares of Restricted Stock that have not yet become vested pursuant to Section 3 hereof. In the event the Grantee’s employment is Terminated (i) without Cause or due to death or Disability, the Transfer Restrictions
shall lapse and the Restricted Stock granted hereunder shall vest as to the number of shares of Restricted Stock that would have vested on the Vesting Date next following the date of 

 
Termination (had the Grantee’s employment not been Terminated), multiplied by a fraction, the numerator of which is the total number of whole calendar months the Grantee remained employed by
the Company following the Vesting Date immediately preceding the date of Termination, and the denominator of which is twelve (12) or (ii) without Cause in connection with or within the one-year period following a Change in Control, the
Transfer Restrictions shall lapse and the Restricted Stock granted hereunder shall vest with respect to all of the shares of Restricted Stock that are not vested as of the date of Termination. Upon the forfeiture of any shares of Restricted Stock
pursuant to this Section 5, the Grantee shall have no further rights with respect thereto, including the right to the payment of any dividends in respect of such shares that have been deferred pursuant to Section 6. 

6. Dividend Rights. Upon the issuance of the shares of Restricted Stock and the entry of the Grantee’s name as a shareholder of record on the
books of the Company, the Grantee shall be, unless and until such shares of Restricted Stock are forfeited pursuant to Section 5 of this Agreement, entitled to all rights of a common shareholder of the Company, including, without limitation,
the right to receive all dividends or other distributions paid or made with respect thereto; provided, however, that any entitlement to or payment of dividends or distributions declared or paid on the shares of Restricted Stock shall be deferred
until such date the shares of Restricted Stock in respect of which such dividends or distributions were made vest pursuant to this Agreement. Any such deferred dividends shall be held by the Company for the account of the Grantee and shall be paid
to the Grantee, with no interest thereon, as promptly as practicable following the date on which the shares of Restricted Stock in respect of which such dividends or distributions were made vest pursuant to this Agreement. 

7. Miscellaneous. 
 7.1.
Acknowledgment. The Grantee hereby acknowledges receipt of a copy of the Plan and agrees to be bound by all the terms and provisions thereof as the same may be amended from time to time. The Grantee hereby acknowledges that the Grantee has
reviewed the Plan and this Agreement and understands the Grantee’s rights and obligations thereunder and hereunder. The Grantee also acknowledges that the Grantee has been provided with such information concerning the Company, the Plan, and
this Agreement as the Grantee and the Grantee’s advisors have requested. 
 7.2. Resolution of Disputes. Any dispute or
disagreement which may arise under, or as a result of, or which may in any way relate to, the interpretation, construction or application of this Agreement shall be determined by the Committee, in good faith, whose determination shall be final,
binding, and conclusive for all purposes. 
 7.3. Governing Law; Compliance with Law; Venue; Service of Process; Waiver of Jury
Trials. 
 (a) Governing Law. This Agreement will be governed by, and construed in accordance with, the laws of the State of
Delaware, without giving effect to any applicable principles of conflict of laws that would cause the laws of another State to otherwise govern this Agreement. 

  
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 (b) Compliance with Law. Notwithstanding anything herein to the contrary, the Company
shall not be required to issue shares pursuant to the exercise of any Award granted under this Agreement and the Plan unless such exercise and issuance comply with all applicable laws, including, without limitation, all applicable federal and state
securities laws. 
 7.4. Enforcement. The parties acknowledge and agree that irreparable damage would occur in the event that any of
the parties’ obligations under this Agreement were not performed in accordance with its specific terms or were otherwise breached. The parties acknowledge and agree that each of the parties shall be entitled to an injunction or injunctions to
prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement. Each of the parties, in such Person’s sole discretion, may apply to any court of law or equity of competent jurisdiction for specific
performance and/or injunctive relief (without posting a bond or other security) in order to enforce and prevent any violation of the provisions of this Agreement 

7.5. Severability. Whenever possible, each provision or portion of any provision of this Agreement will be interpreted in such manner
as to be effective and valid under applicable law, but the invalidity or unenforceability of any provision or portion of any provision of this Agreement in any jurisdiction shall not affect the validity or enforceability of the remainder of this
Agreement in that jurisdiction or the validity or enforceability of this Agreement, including that provision or portion of any provision, in any other jurisdiction. In addition, should a court determine that any provision or portion of any provision
of this Agreement is not reasonable or valid, either in period of time, geographical area, or otherwise, the parties hereto agree that such provision should be interpreted and enforced to the maximum extent which such court deems reasonable or
valid. 
 7.6. Notice. Unless otherwise provided herein, all notices, requests, and other communications provided for under the terms
of this Agreement shall be in writing. Any notice, request, or other communication hereunder shall be sent by (a) personal delivery (including receipted courier service) or overnight delivery service, (b) facsimile during normal business
hours, with confirmation of receipt, to the number indicated, (c) reputable commercial overnight delivery service courier, or (d) registered or certified mail, return receipt requested, postage prepaid, and addressed to the intended
recipient as set forth below: 
  

	 	(i)	If to the Company, to: 

 Aerie Pharmaceuticals, Inc. 

135 US Highway 206, Suite 15 

Bedminster, New Jersey 07921 

Attention: Richard J. Rubino 

Facsimile: (908) 470-4329 

Telephone: (908) 470-4320 

with a copy to: 
 Fried, Frank,
Harris, Shriver & Jacobson LLP 
 One New York Plaza 

New York, New York 10004 

Attention: Steven G. Scheinfeld, Esq. 

Facsimile: 212-859-4000 

  
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 (ii) If to the Grantee, at the most recent address or facsimile number contained in the books and
records of the Company. 
 Each such notice, request and other communication will be effective (x) if delivered by hand, overnight courier or
registered or certified mail, when such delivery is made at the address specified in this Section 7.6 or (y) if delivered by facsimile, when such facsimile is transmitted to the facsimile number specified in this Section 7.6 and
appropriate confirmation is received. Any party may change its facsimile number or its address to which notices, requests, and other communications hereunder are to be delivered by giving the other parties hereto notice in the manner herein set
forth. 
 7.7. Binding Effect; Assignment; Third-Party Beneficiaries. This Agreement shall be binding upon and inure to the benefit
of and be enforceable by the parties hereto and any of their respective successors, personal representatives, and permitted assigns who agree in writing to be bound by the terms hereof. Neither this Agreement nor any of the rights, interests, or
obligations hereunder shall be assigned by the Grantee without the prior written consent of the Company. 
 7.8. Amendments and
Waivers. This Agreement and any of the provisions hereof may be amended, waived (either generally or in a particular instance and either retroactively or prospectively), modified or supplemented, in whole or in part, only by written agreement
signed by the Company, upon approval of the Committee, and by the Grantee; provided, that, the observance of any provision of this Agreement may be waived in writing by the party that will lose the benefit of such provision as a result of
such waiver. The waiver by any party hereto of a breach of any provision of this Agreement shall not operate or be construed as a further or continuing waiver of such breach or as a waiver of any other or subsequent breach, except as otherwise
explicitly provided for in such waiver. Except as otherwise expressly provided herein, no failure on the part of any party to exercise, and no delay in exercising, any right, power, or remedy hereunder, or otherwise available in respect hereof at
law or in equity, shall operate as a waiver thereof, nor shall any single or partial exercise of such right, power, or remedy by such party preclude any other or further exercise thereof or the exercise of any other right, power, or remedy. 

7.9. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all
such counterparts shall together constitute one and the same instrument. 
 7.10. Entire Agreement. This Agreement and the Plan
constitute the entire agreement, and supersede all prior agreements and understandings, oral and written, between the parties hereto with respect to the Award granted hereby. 

7.11. Withholding. The Grantee shall be responsible for the satisfaction of applicable withholding obligations, and the delivery of
certificates or evidence of book entry registration representing vested shares to the Grantee shall be subject to the satisfaction of such obligations. 

  
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The Grantee agrees to indemnify the Company against any federal, state, and local withholding taxes for which the Company may be liable in connection with the Grantee’s acquisition,
ownership, or disposition of any Common Stock. 
 7.12. No Right to Continued Employment. This Agreement shall not confer upon the
Grantee any right with respect to continuance of employment by the Company or any Affiliate, nor shall it interfere in any way with the right of the Company or any Affiliate thereof to terminate the Grantee’s employment at any time. 

7.13. General Interpretive Principles. Whenever used in this Agreement, except as otherwise expressly provided or unless the context
otherwise requires, any noun or pronoun shall be deemed to include the plural as well as the singular and to cover all genders. The headings of the sections, paragraphs, subparagraphs, clauses, and subclauses of this Agreement are for convenience of
reference only and shall not in any way affect the meaning or interpretation of any of the provisions hereof. Unless otherwise specified, the terms “hereof,” “herein” and similar terms refer to this Agreement as a whole, and
references herein to Sections refer to Sections of this Agreement. Words of inclusion shall not be construed as terms of limitation herein, so that references to “include,” “includes,” and “including” shall not be
limiting and shall be regarded as references to non-exclusive and non-characterizing illustrations. 
 7.14. Signature in
Counterparts. This Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 

[signature page follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement, effective as of the Date of
Grant. 
  

			
	AERIE PHARMACEUTICALS, INC.
		
	By:		  

	Name:		
	Title:		

 Agreed and acknowledged as of the Date of Grant: 

 

							
	  
		
	Name:		[                    ]				

  

					
	Grantee’s Name:		[                    ]		
	Date of Grant:		[                    ]		
	Vesting Commencement Date		[                    ]		
	Number of Shares Subject to the Award:		[                    ]		

 [Signature Page to Restricted Stock Agreement]CYT-2014.12.13 - Ex 10.2 (d)(xvii)

Exhibit 10.2(d)(xvii)

PERFORMANCE CASH AWARD UNDER 
THE CYTEC INDUSTRIES INC.
1993 STOCK AWARD AND INCENTIVE PLAN

January 26, 2015

Name:  

Performance Cash Award:   $

Performance Period for ROIC and EPS:  January 1, 2017 to December 31, 2017
Performance Periods for TSR:  three one year periods ending December 31, 2015, 2016 and 2017

Dear Employee:

As a key employee of Cytec Industries Inc. (the "Company"), or of a subsidiary or affiliate of the Company, you have been granted by the Compensation and Management Development Committee (the "Committee") of the Board of Directors for the performance periods indicated above a performance cash award, the base amount of which is equal to the amount set forth above ("Performance Cash”).  This award is subject to the terms and conditions hereof and of the Company's 1993 Stock Award and Incentive Plan (the "Plan").  Performance Cash is awarded pursuant to Section 6(j) of the Plan. Performance Cash, to the extent it becomes payable, will be paid as soon as practicable after January 1, 2016.  This award is subject to Section 6A of the Plan.

Certain restrictions with respect to this award include, but are not limited to, the following:

(1)  Subject to the terms of this Award and subject to the attainment of performance goals as hereinafter provided, this award of Performance Cash shall vest effective as of January 1, 2018; provided that such vesting shall be subject to the further requirement that the Committee certify that the performance goals have been met. 

(2)  Performance goals, and the related payout structure, for this award have been set by the Committee and will be advised to you in writing. The performance goals are based on 2017 adjusted Earnings Per Share (EPS), 2017 Return on Invested Capital (ROIC), and Total Shareholder Return (TSR) of the Company in each of 2015, 2016 and 2017 relative to the TSR of Cytec’s stated Peer Group.  30% of this Performance Cash award will vest in part, in full or in greater than the full amount based on EPS performance, 40% will vest in part, in full or in greater than the full amount based on ROIC performance and 10% will vest in part, in full or in greater than the full amount based on relative TSR performance for each year from 2015 through 2017.  The maximum amount payable under this award is twice the base amount specified at the head of this Agreement.  The threshold amount payable if the minimum performance goal is met is 15% for adjusted EPS, 20% for ROIC and 3% for relative TSR in each of the three years.  There is no minimum amount payable.  The Peer Group has been set by the Committee and will be advised to you in writing.  If any company that is part of the Peer Group files for bankruptcy or is acquired or agrees to be acquired by another entity, such company will be eliminated from the Peer Group for the year in which such event occurs and for all subsequent years.  The Committee reserves the right to change the Peer Group with respect to any performance period at any time on or prior to the 90th calendar day of such performance period.  If the Committee makes any changes to the Peer Group for any performance period, the Committee will cause you to be so notified in writing. 

(3)  This Award is not transferable otherwise than by will or by the laws of descent and distribution or pursuant to a qualified domestic rlations order as defined under the Internal Revenue Code (or under the international equivalent of a qualified domestic relations order).  Except as set forth in the preceding sentence, you may not sell, assign, transfer, pledge, hypothecate or otherwise dispose of any interest in this Award and any attempt to do so shall be void.  Notwithstanding any permitted transfer of this Award, after such transfer, this Award remains subject to the terms and conditions hereof with respect to your employment and any of your actions subsequent thereto.

(4)  Performance Cash shall not bear any interest.

         (5)  If your employment with the Company or a subsidiary or affiliate terminates on or prior to December 31, 2017, all unvested Performance Cash shall be forfeited, except as provided in paragraph (6) or (9) below.

(6)  If your employment with the Company or a subsidiary or affiliate terminates prior to a Change in Control, as defined in Section 2(g)(iii) of the Plan by reason of your (i) death, (ii) disability as defined in the Company's Long-Term Disability Plan, (iii) retirement on or after your 60th birthday, or (iv) under other circumstances determined by the Committee to be not contrary to the best interest of the Company, then, subject to paragraphs (7) and (8), if such termination occurs in 2017, your Performance Cash award shall not be forfeited by reason of such termination of employment; and if your employment so terminates in 2016, two-thirds of said award shall not be so forfeited; and if your employment so terminates in 2015, one-third of said award shall not be so forfeited.  

(7)  During the period in which this Award is in effect (the “Restricted Time Period”), you agree that (i) you will not, directly or indirectly, be employed by, perform services, work, or otherwise engage in activities for a Competitive Business in any capacity that relates to any Competitive Services anywhere in the world; (ii) you will not directly or indirectly solicit, induce, recruit, or encourage any officer, director, employee, or independent contractor, supplier or vendor of the Company or any of its subsidiaries or affiliates that you had knowledge of or worked with during your employment with the Company or any of its subsidiaries or affiliates to leave the Company or any of its subsidiaries or affiliates or to terminate his, her or its relationship with the Company or any of its subsidiaries or affiliates; and (iii) you will not on behalf of a Competitive Business, directly or indirectly, solicit, cause to be solicited, sell to, contact, do or attempt to do business with a Restricted Customer in connection with or relating to a Competitive Service.  You agree that clauses (i) and (iii) do not contain a geographic restriction and that the lack of such a geographic restriction does not, in any way, render clause (i) or (iii) unreasonable, invalid, or unenforceable. This Award shall immediately terminate if you violate any of your agreements in this paragraph (7) unless an exception was approved in writing in advance by the Chief Executive Officer of the Company.  For purposes of this Award: 
(a) Competitive Business shall mean and refer to any individual, corporation, limited liability company, association, partnership, estate, trust, or any other entity or organization (including you), as well as any parent, subsidiary, partner, or affiliate of any such entity or organization, that engages in or plans to become engaged in the research, development, production, manufacture, design, engineering, licensing and/or sale (including services related to all of the foregoing) of: (i) chemicals, (ii) industrial or aerospace materials or related products, or (iii) technology related to the foregoing, that are similar or competitive to any chemicals, materials, products or technology of the Company or under development by the Company at the termination of your employment (“Competitive Services”).  An individual, entity or other organization is considered to be a Competitive Business if it engages in (or plans to become engaged in) any of the Competitive Services regardless of the relative percentage that the Competitive Services comprise of the overall business engaged in by the Competitive Business. 
(b) Restricted Customer shall mean and refer to any individual, corporation, limited liability company, association, partnership, estate, trust, or any other entity or organization, as well as any parent, subsidiary, partner, or affiliate of any such entity or organization, and any employee, agent or representative that controlled, directed, or influenced the purchasing decision of any such individual, entity, or other organization: (1) to which you or your direct or indirect reports sold, negotiated the sales, or promoted services on behalf of the Company or any of its subsidiaries or affiliates at any time in the five years immediately preceding your last day of employment with the Company or any of its subsidiaries or affiliates; (2) to which you or your direct or indirect reports marketed or provided support on behalf of the Company or any of its subsidiaries or affiliates at any time in the five years immediately preceding your last day of employment; or (3) about which you  obtained Proprietary Information during your employment with the Company or any of its subsidiaries or affiliates.

(8)  During the Restricted Time Period, you agree that you will hold the Proprietary Information of the Company in strict confidence and will neither use the information for your benefit or any third party nor disclose it to any third party, except to the extent necessary to carry out your responsibilities as an employee of the Company or any of its subsidiaries or affiliates or as specifically authorized in writing by a duly authorized representative of the Company other than you.  This Award shall immediately terminate if you violate any of your agreements in this paragraph (8) unless an exception was approved in writing in advance by the Chief Executive Officer of the Company.  For purposes of this Award, Proprietary Information means any and all information and materials, in whatever form, whether tangible or intangible, pertaining in any manner to the business of the Company or any of its subsidiaries or affiliates, consultants, customers, business associates or members (including its and their officers, directors, agents and employees), or any person or entity to which the Company owes a duty of confidentiality, whether or not labeled or identified as proprietary or confidential, and including any copies, portions, extracts and derivatives thereof, except to the extent that you can prove that such information or materials: (i) are or become generally known to the public through lawful means and through no act or omission by you (or the Company with respect to any third party information or materials); (ii) were part of your general knowledge prior to your employment provided that you notify the Company immediately, but in no event less than ten calendar days of the disclosure of the information to you that you already had knowledge of the disclosed information; or (iii) are disclosed to you without restriction by a third party who rightfully possesses the information and is under no duty of confidentiality with respect thereto.  

(9)  As provided in the Plan, upon the occurrence of a Change in Control, as defined in Section 2(g)(iii) of the Plan,  the performance conditions previously established and communicated for the maximum payout of all unvested (and not previously 

forfeited) Performance Cash payable hereunder (i.e., 200% of the base amount specified at the head of this Agreement to the extent not previously forfeited) shall be deemed satisfied.  The maximum amounts payable hereunder shall be paid out as soon as practicable after January 1, 2018 (but in any event no later than January 31, 2018) provided that (i) you are then employed by the Company or any legal successor to the Company or a subsidiary or affiliate of the Company or any such legal successor, (ii)  your employment with the Company or any legal successor to the Company or any subsidiary or affiliate of the Company or any such legal successor was previously terminated by reason of your (a) death, (b) disability as defined in the Company’s Long-Term Disability Plan, or (c) your retirement on or after your 60th birthday,  (iii) you previously terminated your employment with the Company or any legal successor to the Company or any subsidiary or affiliate of the Company or any such legal successor for Good Reason (as defined in the Executive Income Continuity Plan as in effect on the date hereof) within two years after the date of such Change in Control, or (iv) the Company or any legal successor to the Company or a subsidiary or affiliate of the Company or any such legal successor previously terminated your employment without Cause (as defined in the Executive Income Continuity Plan as in effect on the date hereof)  within two years after the date of such Change in Control.
    
(10)  Nothing in this award shall confer on you any right to continue in the employ of the Company or any of its subsidiaries or affiliates or interfere in any way with the right of the Company or any subsidiary or affiliate to terminate your employment at any time.  The Plan is discretionary in nature and any Awards made under the Plan are voluntary and occasional.  No participant has any claim to be granted any Award or other benefits in lieu of any Award.  Subject to applicable law, this Award and any payments in respect of this Award shall not be taken into account for purposes of determining any benefits under any benefit plan of the Company or any of its subsidiaries, or for any notice payment or payment in lieu of notice.  The Company shall have no obligation to make any future grants of Awards under the Plan or otherwise to make any future Awards under the Plan as part of any participant’s annual compensation.  
    
(11)  You agree to pay the Company promptly, on demand, any withholding taxes due in respect of the Awards made hereunder.  The Company may deduct such withholding taxes from any amounts owed to you by the Company or by any of its subsidiaries or affiliates.

(12)  Your acceptance of this Award constitutes your agreement (i) to return immediately to the Company at its request any amounts which the Board of Directors has directed the Company to recover from you in accordance with the terms of the Executive Claw Back Policy as in effect on the date of this Award and (ii) to return immediately to the Company at its request an amount equal to the gross amount before any withholding or other deductions, and to cancel any Deferred Stock Awards, you received to settle this Award during the period commencing six months prior to termination of your employment and ending two years after your termination of employment if during such time period you violate any of your agreements in paragraphs (7) or (8) of this Award (except that for purposes of this clause,  the Restricted Time Period in paragraphs (7) and (8) shall mean the period commencing six months prior to termination of your employment and ending two years after termination of your employment), unless approved in writing in advance by the then Chief Executive Officer of the Company.  

(13)  In accordance with the terms of the Plan the Committee reserves the right to adjust, modify or amend any performance measure to the extent such change is permitted by 162(m) of the Code.  Such changes include, but are not limited to, equitable adjustments for corporate transactions and changes to reduce the payout if a target is achieved or to increase the target necessary to earn a payout.

Once Performance Cash vests as herein provided, it shall no longer be deemed to be Performance Cash, and your rights thereto shall not be subject to any restrictions under this Agreement or the Plan except as otherwise specifically set forth herein.

This grant and all determinations made and actions taken pursuant hereto shall be governed by the laws of the State of Delaware without giving effect to the conflict of laws principles thereof.  You and the Company agree that any and all disputes arising under this grant are to be resolved exclusively by courts sitting in Delaware.  You and the Company irrevocably consent to the jurisdiction of such courts and agree not to assert by way of motion, as a defense, or otherwise, any claim that either you or the Company is not subject personally to the jurisdiction of such court, that the action, suit or proceeding is brought in an inconvenient forum, that the venue of the action, suit or proceeding is improper, or that this grant and its terms may not be enforced in or by such court.

In the event of any conflict between the terms of this Agreement and the provisions of the Plan, the provisions of the Plan shall govern.    

If you accept the terms and conditions set forth in this Agreement, please execute the enclosed copy of this letter where indicated and return it as soon as possible.

Very truly yours,

CYTEC INDUSTRIES INC.

                            
BY: ______________________
Secretary, Compensation and Management
   Development Committee

Enc.
ACCEPTED:

____________________________
Employee Name:  
Date:

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