Document:

EX-10.Z

 

EXHIBIT 10Z

AMENDMENT NO. 1

TO

BRUSH ENGINEERED MATERIALS INC.

2006 STOCK INCENTIVE PLAN

	 	 	 	 	 
	 
	 	Recitals
	 	 
	 
	 	 	 	 

     WHEREAS, Brush Engineered Materials Inc. (the “Company”) has adopted the Brush Engineered
Materials Inc. 2006 Stock Incentive Plan (the “Plan”).

     WHEREAS, the Company now desires to amend the Plan (this “Amendment No. 1”) to change the
definition of Market Value per Share.

     WHEREAS, the Compensation Committee (formerly named the Organization and Compensation
Committee) of the Board of Directors of the Company has approved this Amendment No. 1 pursuant to
Section 19 of the Plan.

	 	 	 	 	 
	 
	 	Amendment
	 	 
	 
	 	 	 	 

     NOW, THEREFORE, the Plan is hereby amended by this Amendment No. 1, effective as of December
8, 2006, as follows:

     1. The definition of Market Value per Share in Section 2 of the Plan is hereby amended to read
as follows:

     “Market Value per Share” means, as of any particular date, [unless otherwise determined by the
Committee,] the per share closing price of a Common Share on the New York Stock Exchange on the day
such determination is being made (as reported in The Wall Street Journal) or, if there was
no closing price reported on such day, on the next day on which such a closing price was reported;
or if the Common Shares are not listed or admitted to trading on the New York Stock Exchange on the
day as of which the determination is being made, the amount determined by the Committee to be the
fair market value of a Common Share on such day.

     2. Except as amended by this Amendment No. 1, the Plan shall remain unchanged and in full
force and effect.

	 	 	 	 	 
	 	 	 
	 	                                           /s/ Michael C. Hasychak
 	 
	 	Michael C. Hasychak 	 
	 	Vice President, Secretary and TreasurerEX-10AW

 

EXHIBIT 10AW

AMENDMENT NO. 2

TO

BRUSH ENGINEERED MATERIALS INC.

KEY EMPLOYEE SHARE OPTION PLAN

     Brush Engineered Materials Inc., an Ohio corporation, hereby adopts this Amendment No. 2 to
the Brush Engineered Materials Inc. Key Employee Share Option Plan (the “Plan”), pursuant to the
transition rules set forth in IRS Notice 2005-I with respect to Section 409A of the Internal
Revenue Code of 1986, as amended.

I.

     All elective deferrals of compensation and non-elective deferrals relating to foregone
matching contributions made under the Plan in connection with the grant of options on September 30,
2004 and on December 31, 2004, and all Options granted under the Plan with respect to those
deferrals are cancelled effective as of June 10, 2005. Each Participant who made any such a
deferral or had such a deferral made on his behalf shall receive payment of the amount of such
deferrals upon the cancellation, less application withholding taxes, and any such Participant shall
have no further rights under the Options granted with respect to such deferrals. Notwithstanding
the foregoing, a Participant who exercised any such Option shall not receive payment of the amount
of his deferral with respect to the cancellation of the exercised Option.

II.

     No option shall be issued under the Plan after December 31, 2004.

     Executed at Cleveland, Ohio this 10th day of June, 2005.

	 	 	 	 	 
	 	 	 
	 	/s/ Michael C. Hasychak	 
	 	Michael C. Hasychak 	 
	 	Vice President, Secretary and TreasurerEX-10BH

 

EXHBIT 10BH

AMENDMENT NO. 1

TO

BRUSH ENGINEERED MATERIALS INC.

2006 NON-EMPLOYEE DIRECTOR EQUITY PLAN

	 	 	 	 	 
	 
	 	Recitals
	 	 
	 
	 	 	 	 

     WHEREAS, Brush Engineered Materials Inc. (the “Company”) has adopted the Brush Engineered
Materials Inc. 2006 Non-employee Director Equity Plan (the “Plan”).

     WHEREAS, the Company now desires to amend the Plan (this “Amendment No. 1”) to increase the
minimum value of a participant account requiring distribution in the form of an immediate lump sum
payment (regardless of whether a participant has elected installment payments) in order to create
uniformity with the Company’s 1992 Deferred Compensation Plan for Non-employee Directors and 2005
Deferred Compensation Plan for Non-employee Directors.

     WHEREAS, the Governance and Organization Committee (formerly named the Governance Committee)
of the Board of Directors of the Company has approved this Amendment No. 1 pursuant to Section 12
of the Plan.

	 	 	 	 	 
	 
	 	Amendment
	 	 
	 
	 	 	 	 

     NOW, THEREFORE, the Plan is hereby amended by this Amendment No. 1, effective as of January 1,
2007, as follows:

     1. Section 8(d)(i) of the Plan is hereby amended by changing “$10,000” to “$17,500”.

     2. Except as amended by this Amendment No. 1, the Plan shall remain in full force and effect.

	 	 	 	 	 
	 	 	 
	 	/s/ Michael C. Hasychak	 
	 	Michael C. Hasychak 	 
	 	Vice President, Treasurer and SecretaryEX-10BI

 

EXHIBIT 10BI

AMENDMENT NO. 2

TO

BRUSH ENGINEERED MATERIALS INC.

2006 NON-EMPLOYEE DIRECTOR EQUITY PLAN

	 	 	 	 	 
	 
	 	Recitals
	 	 
	 
	 	 	 	 

     WHEREAS, Brush Engineered Materials Inc. (the “Company”) has adopted the Brush Engineered
Materials Inc. 2006 Non-employee Director Equity Plan (the “Plan”).

     WHEREAS, with the approval of the Governance and Organization Committee (formerly named the
Governance Committee) of the Board of Directors of the Company (the “Committee”) on September 12,
2006 the Plan was amended by Amendment No. 1, effective January 1, 2007.

     WHEREAS, the Company now desires to further amend the Plan (this “Amendment No. 2”) to change
the definition of Fair Market Value.

     WHEREAS, the Committee has approved this Amendment No. 2 pursuant to Section 12 of the Plan.

	 	 	 	 	 
	 
	 	Amendment
	 	 
	 
	 	 	 	 

     NOW, THEREFORE, the Plan is hereby amended by this Amendment No. 2, effective as of December
8, 2006, as follows:

     1. Section 9(b) of the Plan is hereby amended to read as follows:

     “Fair Market Value” means, as of any particular date, [unless otherwise determined by the
Committee,] the per share closing price of a Common Share on the New York Stock Exchange on the day
such determination is being made (as reported in The Wall Street Journal) or, if there was
no closing price reported on such day, on the next day on which such a closing price was reported;
or if the Common Shares are not listed or admitted to trading on the New York Stock Exchange on the
day as of which the determination is being made, the amount determined by the Committee to be the
fair market value of a Common Share on such day.

     2. Except as amended by this Amendments No. 1 and No. 2, the Plan shall remain unchanged and
in full force and effect.

	 	 	 	 	 
	 	 	 
	 	                                           /s/ Michael C. Hasychak
 	 
	 	Michael C. Hasychak 	 
	 	Vice President, Secretary and TreasurerEX-10BL

 

EXHIBIT 10BL

AMENDMENT NO. 2

TO

BRUSH ENGINEERED MATERIALS INC.

EXECUTIVE DEFERRED COMPENSATION PLAN II

     The Brush Engineered Materials Inc. Executive Deferred Compensation Plan II (the “Plan”),
established and maintained for the purpose of providing deferred compensation to a select group of
management and highly compensated employees for years beginning after December 31, 2004, which is
intended to meet the requirements of Section 409A of the Internal Revenue Code, is hereby amended
in the following respect.

1. The last sentence of Section 6.3 of the Plan is amended to provided as follows:

In the case of any key employee (as defined in Section 416(i) of the Code without regard to
paragraph (5) thereof) of an Employer, distributions may not be made before the date which
is six months after the date of separation from service (or, if earlier, the date of death
of the Participant), provided that in the case of any distribution which would be made on an
earlier date but for this restriction, such distribution shall be made as soon as
practicable on or after the first day of the month following the date which is six months
after the date of the key employee’s separation from service.

*          *          *

     WITNESS WHEREOF, Brush Engineered Materials Inc. has caused this Amendment to be executed by
its duly authorized officer this 5th day of December, 2006.

	 	 	 
	BRUSH ENGINEERED MATERIALS INC.
	 
	 	 
	By

	 	/s/ Michael C. Hasychak
	Name:

	 	Michael C. Hasychak
	Title:

	 	Vice President, Secretary and Treasurerexv10w4

 

    EXHIBIT 10.4

 

    Summary
    of Revised Director Compensation Structure for Non-Employee
    Directors

 

    Under the Company’s Corporate Governance Principles,
    non-employee Director compensation is reviewed periodically by
    the Board of Directors with the assistance of the Compensation
    Committee. Mr. Johnson, who is also an employee of the
    Company, receives no additional compensation for his service as
    a director. Directors receive $20,000 in annual retainer fees
    and an additional $4,000 retainer fee for each committee on
    which the Director participates. In addition to the respective
    committee retainer, the Chairman of the Audit Committee receives
    an additional annual retainer fee of $8,000; the Chairman of the
    Compensation Committee receives an additional annual retainer of
    $5,000; and the Chairman of the Corporate Governance &
    Nominating committee receives an additional annual retainer fee
    of $5,000. The annual retainer fee for the Chairman of the Board
    is $50,000. In addition, the Company reimburses Directors for
    travel expenses incurred in connection with attending Board,
    committee and stockholder meetings, and for other
    Company-business related expenses.

 

    All payments other than stock grants (which are made on the
    first trading day of the calendar year to Directors serving on
    that date) are made quarterly in arrears.

 

    On October 18, 2006, the Board of Directors approved an
    adjustment to the Company’s director compensation policy.
    Effective January 1, 2007, the annual stock component of
    the compensation of the Company’s non-employee directors
    consists of a number of shares of restricted stock, issued under
    the Company’s 2001 Long-Term Incentive Plan (the “2001
    Incentive Plan”), equal to $75,000 divided by the closing
    price of the Company’s common stock on the Nasdaq Global
    SelectMarket on the first business day of each calendar year,
    rounded up to the nearest share, with 50% of such restricted
    stock vesting on the first anniversary of each grant and 50% of
    such restricted stock vesting on the second anniversary of such
    grant. The directors must be serving on the Board of Directors
    on the date of vesting in order for the restricted stock to
    vest; however, the vesting of the restricted stock is
    accelerated upon the first to occur of a “Change of
    Control,” or the death, “Disability,” or
    mandatory retirement of the director.

 

    In June 2002, as part of the Company’s 2001 Incentive Plan,
    a Restricted Stock Program was offered to our Board of
    Directors. A director who participates in the Restricted Stock
    Program, may elect to receive, in lieu of cash, all or any
    portion of the fees payable by Matrixx to the director for
    service on the Board of Directors or any committee in the form
    of shares of our common stock. Conditions to participation
    include a three-year restriction on the sale or disposition of
    any shares received under the Restricted Stock Program. The
    purchase price for the shares is equal to 80% of the closing
    price of our common stock on the Nasdaq Global Select Market on
    the designated day of purchase.

 

    The Company does not provide retirement benefits to Directors
    under any current program.

    1

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