Document:

EXHIBIT 10.2

 

FORM OF

 

SEALED AIR CORPORATION
PERFORMANCE SHARE UNITS

AWARD GRANT

2009-2011

 

THIS DOCUMENT CONSTITUTES PART OF
A PROSPECTUS COVERING

SECURITIES THAT HAVE BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933.

 

	
  Name:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Performance Period:

  	
  January 1, 2009 through December 31,
  2011

  
				

 

Grant Date:  March 24, 2009

 

TARGET AWARD

 

You have been granted by Sealed Air
Corporation (the “Company”) a target Performance Share Units award under the
Company’s 2005 Contingent Stock Plan for the three-year performance period 2009
through 2011, comprised of the following:

 

Target Performance Share Units:                          
units

 

Each Performance Share Unit (a “Unit”)
will be equivalent to one share of Sealed Air Corporation common stock.

 

Your award is subject to the terms and
conditions of the Performance Share Units Program and the Company’s 2005
Contingent Stock Plan (collectively, the “Plan Documents”). If this award
agreement varies from the terms of the Plan Documents, the Plan Documents will
control.  A copy of the Performance Share
Units Program is attached as Appendix A.  The 2005 Contingent Stock Plan is included as
an attachment to “Information for Recipients of Performance Share Unit Awards
Under the 2005 Contingent Stock Plan of Sealed Air Corporation.”

 

PERFORMANCE GOALS

 

The number of Units you earn will depend
on the performance of the Company relative to certain performance goals for the
three-year performance cycle from January 1, 2009 through December 31,
2011 (the “Performance Period”).  The
performance goals and their relative weightings are attached as Appendix B
hereto.

 

The determination of whether the
performance goals have been met will be made by the Organization and
Compensation Committee of the Company’s Board of Directors following the end of
the Performance Period.

 

 

OTHER IMPORTANT INFORMATION

 

·                  Units earned will receive dividend equivalents
paid in cash (without interest) based on the dividend rates in effect during
the Performance Period applied to the number of Units you earn, which will be
subject to the performance goals and vesting provisions described above.

 

·                  You will not earn any Units if the Company’s
performance during the Performance Period is below threshold performance as set
forth on Appendix B.

 

·                  If actual performance equals or exceeds
threshold performance, the number of Units earned will range from 50% to 200%
of your Target Performance Share Units award based on attainment against the
performance goals as set forth on Appendix B.

 

·                  In order to receive any Units, you must remain
employed with the Company through December 31, 2011, except in the case of
death, disability or retirement as discussed below.  If you terminate employment prior to December 31,
2011 for reasons other than death, disability or retirement, you will forfeit
all Units.  Other special rules apply
in case of termination of employment following a Change in Control, as
described below.

 

·                  Units earned at the end of the Performance
Period, if any, will be paid in actual shares of Company common stock, less the
number of shares that may be withheld to satisfy applicable withholding
taxes.  Shares in settlement for any
Units earned will be issued on or before March 15, 2012.  Cash dividend equivalents accrued on the
earned Units will be paid in cash on or about the same time.

 

·                  If your employment terminates due to your death
or Disability (as defined in the 2005 Contingent Stock Plan) or you retire (as
defined below) during the Performance Period, you (or your estate, in the event
of your death) will receive a pro rata payout following the end of the
Performance Period, based upon the portion of the Performance Period during
which you were employed.  The actual
payout will not occur until after the end of the Performance Period, at which
time the performance and achievements during the Performance Period will be
used to determine the number of Units that you would have earned if you had
remained employed for the entire Performance Period prior to applying the pro
rata factor.  Any payout to you in case
of termination of employment during the Performance Period due to death, Disability
or retirement will be made at approximately the same time as payouts are made
to Participants who are still employed by the Company. You are considered to
have retired if your employment with the Company terminates when you have at
least 5 years of service and your combined age and years of service equal at
least 70, but excluding termination of employment due to your death or Disability
or termination of employment by the Company for cause.  “Cause” for this purpose means any of the
following as determined by the Company: (i) an act of gross negligence or
willful misconduct significantly injurious to the Company or any subsidiary, (ii) gross
dereliction of duties after notice to you and failure to correct the
deficiencies within a thirty (30) day period thereafter, or (iii) fraud in
your capacity as an employee.

 

·                  There is no automatic vesting of your Units upon
a “Change in Control” (as defined in the 2005 Contingent Stock Plan).  However, the 2005 Contingent Stock Plan
provides for pro 

 

2

 

rata vesting of your Units if within two
years following the Change in Control your employment is terminated either by
the Company without Cause or by you for “Good Reason” (also as defined in the
2005 Contingent Stock Plan).

 

·                  The Organization and Compensation Committee retains
the right in its sole discretion to reduce any award which would otherwise be
payable, unless there has been a Change in Control, as defined in the 2005
Contingent Stock Plan.

 

·                  This award is subject to the Company’s
Policy on Recoupment of Incentive Compensation, a current copy of which is
attached as Appendix C.

 

·                  Payments will be taken into account for purposes
of the Company’s employee benefit plans and programs only to the extent
provided under the terms of such plans and programs.

 

FOR MORE INFORMATION.

 

If you have any questions about your
award or Units or need additional information, contact H. Katherine White at 201-703-4145.

 

IN
WITNESS WHEREOF, the Company has caused this Award Grant to be executed by its
duly authorized officer, and you have hereunto set your hand, effective as of
the Grant Date stated above.

 

	
  SEALED
  AIR CORPORATION

  	
   

  	
  EMPLOYEE

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  	
   

  
							

 

3

 

APPENDIX A

 

SEALED AIR CORPORATION

PERFORMANCE SHARE UNITS PROGRAM

 

PURPOSE

 

The
Sealed Air Corporation Performance Share Units Program (the “Program”) has been
established effective as of January 1, 2008 (the “Effective Date”) to
provide long-term incentive compensation to key employees who are in a position
to influence the performance of Sealed Air Corporation and its subsidiaries
(the “Company”), and thereby enhance shareholder value over time.  The Program provides a significant additional
financial opportunity and complements other parts of the Company’s total
compensation program for key employees (base salary, annual performance plan,
and benefits).

 

ELIGIBILITY
AND PERFORMANCE PERIODS

 

The
Committee (as defined in the “Program Administration” section of the Program)
will determine which employees of the Company are eligible to participate in
the Program from time to time. 
Participants will be selected within 90 days after the beginning of each
multi-year performance cycle (“Performance Period”).  Each Performance Period will be of two or
more years duration as determined by the Committee and will commence on January 1
of the first year of the Performance Period. 
A new Performance Period will commence each year unless the Committee
determines otherwise.

 

TARGET
AWARDS

 

At
the time a Participant is selected for participation in the Program for a
Performance Period, the Committee will assign the Participant a Performance
Share Units Target Award to be earned if the Company’s target performance
levels are met for the Performance Period (the “Target Award”).  The Target Award will be expressed as a
number of Performance Share Units under the Company’s 2005 Contingent Stock
Plan and will be evidenced by a Performance Share Units award grant consistent
with the provisions of the 2005 Contingent Stock Plan.

 

MAXIMUM
AND THRESHOLD AWARDS

 

At
the time a Participant is selected for participation in the Program for a
Performance Period, the Participant will be assigned maximum and threshold
award levels, expressed as a percentage of the Target Award.  Maximum award level represents the maximum
percentage of the Target Award that may be paid to a Participant for a
Performance Period based on performance above target performance levels.  Threshold award level represents the minimum
percentage of the Target Award that may be paid to a Participant for a
Performance Period based on performance below target performance levels.  Performance below the threshold performance
award level will earn no incentive payments.

 

Any
award of Performance Shares hereunder shall be subject to the individual award
limit applicable under the 2005 Contingent Stock Plan.

 

4

 

PERFORMANCE
MEASURES

 

Performance
measures that may be used under the Program will be those “Performance Measures”
defined in the 2005 Contingent Stock Plan.

 

PERFORMANCE
GOALS

 

The
Committee will designate, within 90 days of the beginning of each Performance
Period:

 

·                  The performance measures and calculation
methods to be used for the Performance Period;

 

·                  A schedule for each performance measure
relating achievement levels for the performance measure to incentive award
levels as a percentage of Participants’ Target Awards; and

 

·                  The relative weightings of the performance
measures for the Performance Period.

 

The performance goals
established by the Committee for a Performance Period are intended to satisfy
the “objective compensation formula” requirements of Treasury Regulations Section 1.162-27(e)(2).

 

PERFORMANCE
CERTIFICATION

 

As
soon as practicable following the end of each Performance Period and prior to
any award payments for the Performance Period, the Committee will certify the
Company’s performance with respect to each performance measure used for that
Performance Period.

 

AWARD
CALCULATION AND PAYMENT

 

For
each Performance Period, individual incentive awards will be calculated and
paid to each Participant who is still employed with the Company (subject to the
special provisions below for employees who terminate employment due to death,
disability or retirement) as soon as practicable following the Committee’s
certification of performance for the Performance Period.  The amount of a Participant’s incentive award
to be paid based on each individual performance measure will be calculated
based on the following formula:

 

	
  Participant’s
  Target Award

  	
   

  	
  

  X

  	
   

  	
  Percentage
  of target award to be paid based on performance measure results

  	
   

  	
  

  X

  	
   

  	
  Relative
  weighting of performance measure

  	
   

  	
  

  =

  	
   

  	
  Amount
  of incentive award based on performance measure results

  

 

The
incentive amounts to be paid to the Participant based on each performance
measure will be summed to arrive at the Participant’s total incentive award
payment for the Performance Period.

 

5

 

Payments
from the Program to a Participant, if any, will be made in the form of one
share of the Company’s common stock for each Unit earned (rounded up to the
nearest whole share if such calculation otherwise would result in issuance of a
fractional share).  A Participant
receiving an award under the Program will also receive a cash payment equal to
the dividends that would have been paid during the Performance Period on the
Units earned by the Participant had the Units been actual shares of Company
common stock.

 

TERMINATION
OF EMPLOYMENT DUE TO DEATH, DISABILITY, RETIREMENT

 

If
a Participant’s employment terminates due to the Participant’s death or
disability (as defined in the 2005 Contingent Stock Plan) or retirement (as
defined below) during the Performance Period, the Participant (or the
Participant’s estate, in the event of the Participant’s death) will receive a
pro rata payout following the end of the Performance Period, based upon the portion
of the Performance Period during which the Participant was employed.  The actual payout will not occur until after
the end of the Performance Period, at which time the performance and
achievements during the Performance Period will be used to determine the number
of Units that the Participant would have earned if the Participant had remained
employed for the entire Performance Period prior to applying the pro rata
factor.  Payouts to Participants whose
employment terminates during the Performance Period due to death, disability or
retirement will be made at approximately the same time as payouts are made to
Participants who are still employed by the Company. A Participant is considered
to have retired if the Participant’s employment with the Company terminates
when the Participant has at least 5 years of service and the Participant’s
combined age and years of service equals at least 70, but excluding termination
of employment due to the Participant’s death or disability or termination of
employment by the Company for cause.  “Cause”
for this purpose means any of the following as determined by the Company: (i) an
act of gross negligence or willful misconduct significantly injurious to the
Company or any subsidiary, (ii) gross dereliction of duties after notice
to the Participant and failure to correct the deficiencies within a thirty (30)
day period thereafter, or (iii) fraud in the Participant’s capacity as an
employee.

 

OTHER
TERMINATION OF EMPLOYMENT

 

If
a Participant’s employment terminates prior to the end of a Performance Period
for any reason (whether voluntary or involuntary) other than death, disability
or retirement, the Participant will forfeit all rights to compensation under
the Program, except for any special provisions under the 2005 Contingent Stock
Plan in connection with certain terminations of employment following a Change
in Control or unless the Committee determines otherwise.

 

NEW
HIRES OR PROMOTIONS INTO ELIGIBLE POSITIONS

 

Participants
will become eligible for participation in the Program at their new position
level beginning with the Performance Period which begins on the January 1
immediately following their hire or promotion date.  No new performance awards or adjustments to
awards for Performance Periods that commenced prior to a Participant’s hire or
promotion date will be made.

 

6

 

IMPACT
OF A CHANGE IN CONTROL

 

Any special vesting or payment rules with
respect to awards under the Program in connection with a Change in Control will
be determined under the provisions of the 2005 Contingent Stock Plan.

 

PROGRAM
ADMINISTRATION

 

The
Program will be administered by the Organization and Compensation Committee of
the Company’s Board of Directors in accordance with the terms of the 2005 Contingent
Stock Plan.

 

MISCELLANEOUS

 

(i)                                     Amendment and
Termination.  The
Committee may amend, modify, or terminate the Program at any time, provided
that no amendment, modification or termination of the Program shall reduce the
amount payable to a Participant under the Program as of the date of such
amendment, modification or termination.

 

(ii)                                  Incorporation
of 2005 Contingent Stock Plan.  The terms and provisions of the 2005
Contingent Stock Plan are incorporated herein by reference.  In case of any conflict between this Program
and the 2005 Contingent Stock Plan, the 2005 Contingent Stock Plan will
control.

 

(iii)                               Coordination With Other Company Benefit Plans.  Payments under the
Program will be taken into account for purposes of the Company’s employee benefit
plans and programs only to the extent provided under the terms of such plans
and programs.

 

(iv)                              Participant’s Rights.  A Participant’s rights and interests under
the Program may not be assigned or transferred by the Participant.  To the extent the Participant acquires a
right to receive payments from the Company under the Program, such right shall
be no greater than the right of any unsecured general creditor of the
Company.  Nothing contained herein shall
be deemed to create a trust of any kind or any fiduciary relationship between
the Company and the Participant. 
Designation as a Participant in the Program for a Performance Period
shall not entitle or be deemed to entitle the Participant to be designated as a
Participant for any subsequent Performance Periods or to continued employment
with the Company.

 

7

 

APPENDIX B

 

Name:

 

Target Award:  Performance Share Units

 

Threshold Award Level:  50% of Target Award

 

Maximum Award Level:  200% of Target Award

 

Primary Performance Goal: 
The percentage of the Target Award that will be earned will be based on
cumulative operating income for the performance period, subject to the
exclusions set forth below, as follows:

 

	
   

  	
   

  	
  (Millions)

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Under $1,320

  	
   

  	
  0

  	
  %

  
	
  Threshold:

  	
   

  	
  $1,320

  	
   

  	
  50

  	
  %

  
	
  Target:

  	
   

  	
  $1,440

  	
   

  	
  100

  	
  %

  
	
   

  	
   

  	
  $1,485

  	
   

  	
  150

  	
  %

  
	
  Maximum:

  	
   

  	
  $1,540 and above

  	
   

  	
  200

  	
  %

  

 

Award levels based on cumulative
operating income between any two of these levels would be based on a pro-rata
calculation of the number of shares earned, except that no shares will be
earned for cumulative operating income below $1,320 million.  Fractional shares earned will be rounded up
to the nearest whole share.

 

Alternative Performance Goal: 
If the Company does not achieve the threshold cumulative operating
income of $1,320 million but achieves cumulative operating income greater than
$750 million, then the Organization and Compensation Committee may use the
following alternative method for determining the percentage of the Target Award
that is earned under the Plan.

 

The measure for earning
an award under the alternative performance goal will be based on the percentage
growth of cumulative operating income of the Company during the performance
period over the operating income for 2008 relative to the percentage growth of
cumulative operating income for the Company’s peer group companies (excluding
the Company) during the performance period over the operating income for 2008
for the peer group companies (excluding the Company). The Company’s performance
relative to its peer group must be at least at the median (which shall be the
threshold level for the Alternative Goal) for any shares to be earned. Earned
award levels will be based on Company performance relative to its peer group as
follows:

 

8

 

	
  Performance Relative to Peer
  Group

  	
   

  	
  Payout as % of Target

  
	
  Below
  median

  	
   

  	
  0%

  
	
  From
  median to 90th percentile

  	
   

  	
  Percentage
  equal to percentile ranking in peer group

  
	
  Above
  90th percentile

  	
   

  	
  100%

  

 

The peer group companies shall
be those currently approved by the Organization and Compensation Committee for
executive compensation purposes, provided that if any of such peer group
companies shall cease to publicly report its operating results throughout the
entire performance period (for example, by being acquired), then that peer
group company shall be dropped from the calculation.

 

If the Company’s
performance relative to its peer group is above the 90th percentile,
then the payout can be increased by an additional 40% of the target award if
the percentage increase in the Company’s stock price during this period is
consistent with (i.e., meets or exceeds) 100% of the percentage increase in the
Standard & Poor’s 500 Stock Index over the same period.

 

Additional Goals: If the above threshold level is achieved
under either the Primary Goal or the Alternative Goal, then the number of
shares earned for each participant can be increased or decreased by up to 10%
at the discretion of the Organization and Compensation Committee depending on
whether either (or both) of the following additional performance goals is
achieved:

 

a.                           Inventory days-on-hand averaged over the
period from December 31, 2008 to December 31, 2011 calculated using
the days-on-hand metric at December 31, 2008 and each successive quarter
end through December 31, 2011 is less than 78 days (the average days on
hand for 2008); and

 

b.                          2011 safety result (TRIR) of 1.30,
excluding facilities acquired during the performance period.

 

Exclusions for calculation of
cumulative operating income:

 

The performance goals above shall exclude the effect of the following:

 

a.                           All
restructuring charges reported or accounted for in the 2009 through 2011
consolidated financial statements as “restructuring charges,” and restructuring
programs (including all unbudgeted charges, all restructuring related expense
such as equipment relocation and all non-recurring expenses related to the
company’s global manufacturing strategy) and all non-operating charges
associated with mergers and acquisitions, both if approved by the Board of
Directors no later than December 31, 2011. 
This exclusion shall include all restructuring charges approved by the
Board of Directors before 2008 that are recorded during 2009 through 2011.  For any restructuring programs approved
during 2009 through 2011 for which charges have been excluded, any expense
credits related to such programs will also be excluded;

 

b.                          All charges related to goodwill
amortization or impairment in the calculation of operating expense or operating
profit;

 

9

 

c.                           All expenses (including
litigation-related costs and expenses), liabilities and accruals related to or
arising from: (i) any liabilities that W.R. Grace & Co. or any of
its subsidiaries had agreed to assume or as to which any of them indemnified
the Corporation or any of its subsidiaries under any of the agreements entered
into in connection with the Cryovac Transaction (as defined in the Corporation’s
Financial Statements included in the Corporation’s Quarterly Report on Form 10-Q
for the quarter ended September 30, 2002); (ii) any claim or lawsuit
alleging that the Corporation or any of its subsidiaries is or may be liable
for any liabilities of W. R. Grace & Co., Fresenius Medical Care
Holdings, Inc., or any of their respective affiliates under any legal
theory, including without limitation any claim based on fraudulent transfer,
fraudulent conveyance, successor liability, or contractual obligation; (iii) any
securities class action litigation brought against the Corporation or any of
its officers or directors, including without limitation the case of MPERS/Senn
v. Hickey, et al.; (iv) any costs incurred to settle the aforementioned
liabilities, claims and lawsuits; or (v) any payment that the Corporation
or any of its subsidiaries may be required to make to any trust fund
established under federal law providing for the resolution of claims for bodily
injury caused by asbestos exposure.

 

d.                          All expenses related to capital markets
transactions authorized by the Board of Directors.  Such transactions will include the repurchase
of bonds and stock.

 

e.                           The effect (including related expenses)
of any acquisition or disposition transactions, whether or not closed during
2009 through 2011, provided that, as to transactions closed during 2009 through
2011 that were large enough to require Board of Director approval, the Board of
Directors has approved such transactions. 
However, the effect of any acquisition or disposition that closed prior
to 2009 shall not be excluded.

 

f.                             The effect of any accounting changes
implemented during 2009 through 2011, such as IFRS or the discontinuance of the
Last-in, First-out (LIFO) method for calculating the value of inventory in the
United States.

 

Discretion retained:  The Organization and Compensation Committee
retains the right in its sole discretion to reduce any award that would
otherwise be payable, except in the event of certain terminations following a Change
in Control as provided in the 2005 Contingent Stock Plan.

 

10

 

APPENDIX
C

 

SEALED AIR CORPORATION

 

POLICY ON RECOUPMENT OF INCENTIVE COMPENSATION

FROM EXECUTIVES IN THE EVENT OF CERTAIN RESTATEMENTS

 

The
Organization and Compensation Committee of the Board of Directors has approved
the policy that the Company will, to the extent permitted by governing law,
require reimbursement to the Company of all or a portion of any annual
incentive compensation (whether payable in cash or by an award under the 2005
Contingent Stock Plan) and any Performance Share Units awards under the 2005
Contingent Stock Plan awarded to any executive officer of the Company or to the
leader of any business unit or function of the Company for performance periods
beginning on or after January 1, 2008, where:

 

(a)   the payment or
award was predicated upon the achievement of certain financial results that
were subsequently the subject of a substantial restatement,

 

(b)   in the view of
the Board, the officer or leader engaged in fraud or misconduct, or recklessly
or negligently failed to prevent the fraud or misconduct, that caused or
significantly contributed to the need for the substantial restatement, and

 

(c)   either no
payment or award, or a lower payment or award, would have been made to the
officer or leader based upon the restated results.

 

In
each case, the Company will, to the extent practicable, seek to recover the
amount by which the officer’s or leader’s annual incentive compensation and/or
Performance Share Units award for the relevant period exceeded the lower amount
that would have been paid or awarded (or the entire amount, if nothing would
have been paid or awarded).  This may
include the cancellation of all or a portion of unvested awards or unpaid
awards (or a delay in payment of any such awards while financial results are
under review by the Company).

 

In
addition, any person who is subject to forfeiture of compensation or profits
from the sale of the Company’s securities under Section 304 of the
Sarbanes-Oxley Act of 2002 shall reimburse the Company the amount of such
compensation and profits.

 

In
addition to these reimbursements, the Company may take any other actions that
it deems appropriate to remedy the fraud or misconduct based on a consideration
of the relevant facts and circumstances.

 

3/24/2008

 

11EXHIBIT 10.3

 

FORM OF

 

WAIVER AND RELEASE

 

	
  From:

  	
   

  	
   

  
	
   

  	
   

  
	
  To:
  Sealed Air Corporation

  

 

During
the first quarter of 2008, the Organization and Compensation Committee of the
Board of Directors of Sealed Air Corporation (the Company) granted me a
performance share unit award for                       
units for the two-year performance period beginning January 1, 2008 (2008
Two Year Award) and a performance share unit award for                       
units for the three-year performance period beginning January 1, 2008
(2008 Three Year Award).  Copies of the
Award Grants for the 2008 Two Year Award and the 2008 Three Year Award are
enclosed.

 

During
the first quarter of 2009, the Organization and Compensation Committee granted
me a performance share unit award for                       
units for the two-year performance period beginning January 1, 2009 (2009
Two Year Award) on the condition that I waive and release all rights to the
2008 Two Year Award and the 2008 Three Year Award.  The waiver and release of the 2008 Two Year
Award and 2008 Three Year Award in exchange for the 2009 Two Year Award is
referred to as the Performance Share Unit Exchange.  I have received a copy of the Award Grant for
the 2009 Two Year Award Grant.

 

I
have been advised that, given the Company’s financial performance during 2008,
the Company’s management believes that it is not probable that the threshold
level performance goals and measures applicable to the 2008 Two Year Award and
the 2008 Three Year Award will be achieved.

 

I
make the following representations to the Company:

 

a.  I am a sophisticated individual with
sufficient knowledge and experience regarding the Company and both the 2008 Two
Year Award and 2008 Three Year Award and the 2009 Two Year Award to make an
informed decision regarding the Performance Share Unit Exchange.

 

b.  I meet at least one of the following
qualifications as an “accredited investor” within the meaning of Regulation D
under the Securities Act of 1933: (i) I am an executive officer of the
Company, (ii) I have an individual net worth, or joint net worth with my
spouse, in excess of $1 million, and/or (iii) my individual income
exceeded $200,000 in 2007 and 2008, or my joint income with my spouse exceeded
$300,000 in 2007 and 2008, and I have a reasonable expectation of reaching the
same income level in 2009.

 

c.
 I have been furnished all requested
materials relating to the Company and both the 2008 Two Year Award and 2008
Three Year Award and the 2009 Two Year Award.

 

 

d.
 I have been afforded an opportunity to
ask questions of, and receive answers from, management of the Company in
connection with the Performance Share Unit Exchange.

 

e.
 I have obtained, in my judgment,
sufficient information to evaluate the merits and risks of the Performance
Share Unit Exchange.

 

I
hereby waive and release all rights in and to the 2008 Two Year Award and the
2008 Three Year Award, and as a result such awards are hereby canceled and
terminated in their entirety.

 

 

	
   

  	
   

  
	
  Name:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Date

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