Document:

Exhibit

Exhibit 10.1
HEXION HOLDINGS LLC
(the “Company”)
2019 LONG-TERM INCENTIVE PROGRAM 
(the “2019 LTI Program”)

		
	I.
	Purpose of the Program

To reward associates who are critical to the success of the organization for their contributions to maintaining organizational focus in 2019, during a year of distraction while providing retention into the future.  The 2019 LTI Program is designed to deliver performance-based value to participants.

		
	II.
	Program Years

This program runs concurrently with the annual Incentive Compensation Plan (“ICP”) year for 2019.

		
	III.
	Eligibility for Participation

All associates in executive, leader and professional roles in Hexion Inc. are eligible to participate in the 2019 LTI Program.  Participation is based on nomination by the Company’s Compensation Committee of the Board of Managers and the company’s senior leaders.

		
	IV.
	Program Performance Measures

Performance measures used in determining a payout under the 2019 LTI Program are the same as the Global Hexion performance measures used in the Company’s 2019 ICP.
    
		
	I.
	Individual Award Targets

    
The target award for each participant (the “2019 LTI Target”) will be stated in an award letter.

		
	II.
	Program Award Structure

The 2019 LTI award is based on achievement of the Global Hexion EBITDA, Cash Flow and EH&S targets specified under the Company’s 2019 ICP as follows:

	
				
	Performance Measures
	Minimum
Achievement
	Target
Achievement
	Maximum
Achievement

	Segment EBITDA (55.0%)
% payout of 2019 LTI Target allocable to Segment EBITDA
	$440 million
50%
	$470 million
100%
	$510 million
200%

	Cash Flow (35.0%)
% payout of 2019 LTI Target allocable to Cash Flow
	($60) million
50%
	($30) million
100%
	$10 million
200%

	SIF Incidents (5.0%)
% payout of 2019 LTI Target allocable to SIF Incidents
	5 incidents
30%
	4 incidents
100%
	3 incidents
200%

	Occupational Illness & Injury Rate (OIIR) (2.5%)
% payout of 2019 LTI Target allocable to OIIR
	0.60
30%
	0.49
100%
	0.37
200%

	Total Environmental Incidents (ERI) (2.5%)
% payout of 2019 LTI Target allocable to ERI
	23 incidents
30%
	19 incidents
100%
	15 incidents
200%

		
	1)
	For EBITDA and Cash Flow:

		
	(a)
	Above the Minimum Achievement level, each participant earns a payout calculated on a linear path up to and including the Target Achievement level; and

		
	(b)
	Above the Target Achievement level, each participant earns a payout calculated on a linear path up to and including the Maximum Achievement level.

		
	2)
	Any amount paid will be subject to the employment requirements in Section VII (2) below.

		
	I.
	Payment of Awards

All payments to participants under this program will be subject to the conditions set forth below.
		
	1)
	Awards earned under the 2019 LTI Program are not vested until paid.  Payments of awards earned under the 2019 LTI Program will occur in the third quarter of 2021.

		
	2)
	Participants must be actively employed by one of the Company’s subsidiaries on the award payment date in order to be eligible to receive a payment unless, following the final day of the plan year, one of the following situations arises: (i) the participant is involuntarily terminated without cause, (ii) the participant dies or is terminated due to disability, or (iii) the participant retires having reached age 55 with at least ten years of service.

		
	3)
	Awards will be paid to participants subject to all statutory tax withholdings.

		
	4)
	Aggregate payments made under the 2019 LTI Program shall not exceed the amount approved in advance by the Company’s Compensation Committee.

		
	5)
	The Compensation Committee of the Board of Managers of the Company retains the right to amend or adapt the design and rules of the 2019 LTI Program.  Local legislation will prevail where necessary.Exhibit

Exhibit 10.2

CONFIDENTIAL

[DATE]

[NAME]
[LOCATION]

Dear [FIRST NAME]:

Congratulations!  As a valued associate, you have been selected to participate in the 2019 Long-Term Incentive (LTI) Program (the “2019 LTI Program”).  This program was created for a select group of associates who we believe are high performers and/or significant contributors to the future success of the company.  The 2019 LTI Program is designed to support delivering on our 2019 commitments and drive long term value creation.

Under the 2019 LTI Program, your target bonus opportunity is [AMOUNT] [CURRENCY].
 
		
	•
	One hundred percent (100%) of your target bonus opportunity is performance-based.

		
	•
	You must be actively employed by the company at the time of payout to receive the payment, subject to the conditions outlined in Section VII of the 2019 LTI Program document.

		
	•
	Refer to the “2019 LTI Program” document attached for specific program details.

I am pleased you were selected to participate in the 2019 LTI Program and I look forward to your continued contributions to the long-term success of our company.

Sincerely,

Craig Rogerson
Chairman, President & CEO

ACKNOWLEDGEMENT

By signing below, you acknowledge having received a copy of the Hexion Holdings LLC 2019 Long-Term Incentive Program document (the “Plan”), and you further agree to be bound by the terms and conditions of the Plan and this award letter.

Your participation is contingent upon your acknowledgement and agreement to the provisions of this Plan and award letter, as indicated by your signing below and returning the signed award letter by email to equityadmin@hexion.com by the close of business on June 30, 2019.

THE PARTICIPANT:

By:        ____________________________

Name:    [PARTICIPANT NAME]

Title:    [PARTICIPANT TITLE]

Date:    ____________________________

Last address on the records of the Company:

[PARTICIPANT ADDRESS] 

Target Award: [AMOUNT] [CURR]Exhibit 4.1

 

Amendment of Permit to Control Bezeq
The Israel Telecommunication Corp. Ltd. Issued to Corporations in the Eurocom Group on April 13, 2010 (29 Nissan 5770)

 

By the authority vested in me1
under Section 4D of the Communications Law (Telecommunications and Broadcasts), 5742-1982, and under Section 3 of the Communications
Order (Telecommunications and Broadcasts) (Determination of Essential Service Provided by Bezeq The Israel Telecommunication Corp.
Ltd.), 5757-1997, I hereby amend the permit to control Bezeq The Israel Telecommunication Corp. Ltd. issued to corporations in
the Eurocom Group on April 13, 2010 (29 Nissan 5770) (hereinafter – the "Permit"), as set out below:

 

		1.	In Section 2.2 of the Permit, the words "subject to the corporate family tree dated January
22, 2019" are added at the end of the section.

Attached
hereto is the corporate family tree dated January 22, 2019.

 

		2.	The following is added after Section 4.6 of the Permit:

 

"4.6.1Within
75 days from the date of this amendment, the Articles of Internet Gold shall be amended in a manner establishing the obligation
of Eurocom Communications Ltd. to hold each of the means of control in Internet Gold at the rate specified in Section 4(a)(2)(a)
of the Communications Order."

 

		3.	Section 8(c) of the Permit is replaced by the following:

 

"(c)The
holding percentage of the holder of the control permit for individuals in Internet Gold and the holding percentage of Eurocom Communications
Ltd. in Internet Gold exceeds at all times 35% of the means of control in each of them, and the holding percentage of Internet
Gold in B-Com exceeds at all times 50% of the means of control therein."

 

4.       This
amendment will become effective on the day of its signature.

 

 

January 22, 2019                                           (
- )           

16 Shevat 5779                                         Ayoob
Kara

                                                     Minister of Communications

 

____________________

1 On October 14, 2018
the Government resolved to transfer the Prime Minister's powers in this regard to the Minister of Communications, in accordance
with Section 31(b) of the Basic Law: The Government. On October 15, 2018 the Knesset approved the Government's resolution.

 

    	 

    	 

    

Amendment of Approval to Be Considered
an "Israeli Entity" within the Meaning of the Communications Order, Issued on February 3, 2019

 

By the power vested in us under Subsection
(3) of the definition of "Israeli Entity" in Section 1 of the Communications Order (Telecommunications and Broadcasts)
(Determination of Essential Service Provided by Bezeq The Israel Telecommunication Corp. Ltd.), 5757-1997, and pursuant to an application
of B-Communications Ltd. submitted to the Ministry of Communications on January 28, 2019,2 we hereby amend the approval
to be considered an Israeli Entity issued on February 3, 2019 (the "Approval"), as follows:

 

		1.	In Section 1(c) of the Approval, "50%" is replaced by "35%."

 

		2.	The following is added after Section 1(e) of the Approval:

 

"(f) No Joint Appointment
as defined in Section 1 of the Communications Order may be made in B-Com, without prior written approval from the Ministers as
defined in the Communications Order.

(g) The Articles of B-Com
do not contain a provision that prevents Internet Gold from meeting its obligation to hold each of the means of control in B-Com
at the rate specified in Section 4(a)(2)(a) of the Communications Order."

 

( - )                                                          ( - )

––––––––––––––––––––––––––––––––––––––––––––

Ayoob Kara                             General (res.) Udi Adam

Minister of Communications        Director
General of the

                                                     Ministry of Defense

February 26, 2019

21 First Adar 5779

 

____________________

1 On October 14, 2018
the Government resolved to transfer the Prime Minister's powers in this regard to the Minister of Communications, in accordance
with Section 31(b) of the Basic Law: The Government. On October 15, 2018 the Knesset approved the Government's resolution.

2 Email message from Mr.
Barlev to Adv. Neufeld dated February 4, 2019; email message from Adv. Engelberg-Teller to Adv. Herman and Mr. Barlev dated February
4, 2019; supplements to the application in email message from Mr. Barlev to Adv. Neufeld dated February 5, 2019; email message
from Adv. Herman to Adv. Mendelson dated February 6, 2019; email message from Mr. Barlev to Adv. Neufeld dated February 6, 2019;
email message from Adv. Barlev to Adv. Engelberg-Teller dated February 11, 2019; email message from Adv. Barlev to Adv. Mendelson
dated February 11, 2019; letter from Adv. Herman to Adv. Neufeld dated February 18, 2019.

 

 

 

    	 

    	 

    

 

Amendment of Permit to Control Bezeq
The Israel Telecommunication Corp. Ltd. Issued to Corporations in the Eurocom Group on April 13, 2010 (29 Nissan 5770)

 

By the authority vested in me1
under Section 4D of the Communications Law (Telecommunications and Broadcasts), 5742-1982, and under Section 3 of the Communications
Order (Telecommunications and Broadcasts) (Determination of Essential Service Provided by Bezeq The Israel Telecommunication Corp.
Ltd.), 5757-1997, pursuant to an application of B-Communications Ltd. submitted to the Ministry of Communications on January 28,
2019,2 I hereby amend the permit to control Bezeq The Israel Telecommunication Corp. Ltd. issued to corporations in
the Eurocom Group on April 13, 2010 (29 Nissan 5770) (hereinafter – the "Permit"), as set out below:

		1.	In Section 2.2 of the Permit, the words "subject to the corporate family tree dated January
22, 2019. Attached hereto is the corporate family tree dated January 22, 2019." – are replaced by the following: "subject
to the corporate family tree dated February 11, 2019. Attached hereto is the corporate family tree dated February 11, 2019."

		2.	The following is added after Section 4.5 of the Permit:

"4.5.1 This Permit
is conditional on there being no provision in the Articles of B-Com that prevents Internet Gold from meeting its obligation to
hold each of the means of control in B-Com at the rate specified in Section 4(a)(2)(a) of the Communications Order."

		3.	Section 8(c) of the Permit is replaced by the following:

"(c)The
holding percentage of the holder of the control permit for individuals in Internet Gold, the holding percentage of Eurocom Communications
Ltd. in Internet Gold and the holding percentage of Internet Gold in B-Com exceeds at all times 35% of the means of control in
each of them."

4.       This
amendment will become effective on the day of its signature.

 

February 26, 2019                                             (
- )           

21 First Adar 5779                                   MK
Ayoob Kara

                                                         Minister of Communications

 

____________________

1 On October 14, 2018
the Government resolved to transfer the Prime Minister's powers in this regard to the Minister of Communications, in accordance
with Section 31(b) of the Basic Law: The Government. On October 15, 2018 the Knesset approved the Government's resolution.

2 Email message from Mr.
Barlev to Adv. Neufeld dated February 4, 2019; email message from Adv. Engelberg-Teller to Adv. Herman and Mr. Barlev dated February
4, 2019; supplements to the application in email message from Mr. Barlev to Adv. Neufeld dated February 5, 2019; email message
from Adv. Herman to Adv. Mendelson dated February 6, 2019; email message from Mr. Barlev to Adv. Neufeld dated February 6, 2019;
email message from Adv. Barlev to Adv. Engelberg-Teller dated February 11, 2019; email message from Adv. Barlev to Adv. Mendelson
dated February 11, 2019; letter from Adv. Herman to Adv. Neufeld dated February 18, 2019.

 

    	 

    	 

    

 

February January
3, 2019

28 16 Shevat 5779

Yaron Herman, Adv.

Attorney of Internet Gold

 

Dear Sir,

 

		Re:	Approval to be considered an "Israeli Entity," within the meaning of the Communications
Order

		Reference:	1. Letter from Adv. Yaron Herman and Adv. Yoav Friedman to Adv. Neufeld dated April 9, 2018

		2.	Letter from Adv. Mendelson to Adv. Yaron Herman and Adv. Yoav Friedman dated June 19, 2018

		3.	Legal opinion from Advs. Herman and Anijar dated July 11, 2018

		4.	Legal opinion from Advs. Herman and Anijar dated October 28, 2018

		5.	Letter of Adv. Yaron Herman dated October 23, 2018

		6.	Letter of Adv. Yaron Herman dated December 1, 2018

		7.	Letter of Adv. Guy Gissin dated January 1, 2019

		8.	Email message from Adv. Herman to Adv. Mendelson dated January 17, 2019

		9.	Email message from Adv. Barlev to Adv. Mendelson dated January 20, 2019

		10.	Email message from Doron Turgeman to Adv. Mendelson dated January 21, 2019

		11.	Email message from Adv. Herman to Adv. Mendelson dated January 22, 2019

Further to your application as
set out in the referenced letters (the "Application"), we hereby notify you as follows:

		1.	By the power vested in us under Subsection (3) of the definition of "Israeli Entity"
in Section 1 of the Communications Order (Telecommunications and Broadcasts) (Determination of Essential Service Provided by Bezeq
The Israel Telecommunication Corp. Ltd.), 5757-1997, after examining the Application, and subject to compliance with the conditions
set out below, we hereby permit B-Communications Ltd. ("B-Com") and Internet Gold – Gold Lines Ltd. ("Internet
Gold," together – the "Companies") to be considered an Israeli Entity.

		(a)	Control of the Companies must be held by a citizen and resident of Israel.

		(b)	The joint holdings of Mr. Shaul Elovitch and Mr. Yossef Elovitch in Internet Gold may not at any
time be less than 35% of the issued share capital and of any type of means of control.

		(c)	The holdings of Internet Gold in B-Com may not at any time be less than 50% of the issued share
capital and of any type of means of control therein.

		(d)	The Companies may not transfer their holdings in Bezeq The Israel Telecommunication Corp. Ltd.
to anyone other than an Israeli Entity within the meaning of the Communications Order, subject to the approvals required under
any law.

 

____________________

1 On October 14, 2018
the Government resolved to transfer the Prime Minister's powers in this regard to the Minister of Communications, in accordance
with Section 31(b) of the Basic Law: The Government. On October 15, 2018 the Knesset approved the Government's resolution. On January
31, 2019 the Minister of Defense's powers in this regard were delegated to the Director General of the Ministry of
Defense, in accordance with Section 33(b) of the Basic Law: The Government.

    	 

    	 

    

 

		(e)	Within 75 days from the date of issuance of this approval, the Articles of Internet Gold shall
be amended by adding a provision that prohibits making a Joint Appointment, as defined in Section 1 of the Communications Order,
without prior written approval from the Ministers as defined in the Communications Order.

		2.	This approval is based on the assumption and subject to the condition that the information set
out in the referenced letters is complete and accurate.

		3.	Failure to amend the Articles as stated in Section 1(e) above within 75 days from the day of issuance
of the approval, or any change in the aforesaid amended provision in the Articles, shall be grounds for the revocation of this
approval.

		4.	The approval replaces the approval to be considered an "Israeli Entity" within the meaning
of the Communications Order, dated April 13, 2010 and November 3, 2010.

 

 

                                                                                  ( - )

                                                                              [stamp:]

                                                              General (res.) Udi Adam

                                                              Director General of the 

                      ( - )                                    Ministry of Defense

––––––––––––––––––––––              ––––––––––––––––––––––

               Ayoob Kara                      Minister
Director General of the

Minister of Communications                        Ministry of Defense

                                                             General (res.) Udi Adam

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