SEC Contract Filing

Filing Date: 2018-11-13

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>usg_ex101x11132018.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="sE54470B5248308E524DDE54F5D0255C8"></a></div><div><div style="line-height:130%;padding-bottom:10px;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:130%;padding-bottom:10px;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.1</font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">[</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">USG Letterhead</font><font style="font-family:inherit;font-size:12pt;">]</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">November __, 2018</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Personal &amp; Confidential</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">[Name]</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">[Address]</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Re: Section 280G Mitigation Acknowledgment</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Dear [_______]:</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">In connection with the contemplated merger between USG Corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;), Gebr. Knauf KG and World Cup Merger Corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Merger</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and in recognition of your continued service and loyalty to the Company, I am pleased to inform you that, pursuant to the terms of this letter agreement (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Acknowledgment</font><font style="font-family:inherit;font-size:12pt;">&#8221;), the Company will take certain compensatory actions that may mitigate the effect of Sections 280G and 4999 of the Internal Revenue Code of 1986, as amended (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Code</font><font style="font-family:inherit;font-size:12pt;">&#8221;), subject to the terms set forth herein. </font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Accordingly, in consideration of the mutual promises and covenants hereinafter set forth, it is hereby agreed as follows:</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:130%;padding-left:0px;text-align:left;text-indent:48px;"><font style="text-align:left;font-family:inherit;font-size:12pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Acceleration of 2016 Market Share Unit Awards and 2016 Performance Share Awards</font><font style="font-family:inherit;font-size:12pt;">. Notwithstanding the provisions of your 2016 Market Share Units Agreement (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">2016 MSU Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and your 2016 Performance Shares Agreement (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">2016 PS Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), the Company shall accelerate the vesting of 90% of the target market share units granted to you pursuant to the 2016 MSU Agreement (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Accelerated MSUs</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and 90% of the target performance shares granted to you pursuant to the 2016 PS Agreement (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Accelerated Performance Shares</font><font style="font-family:inherit;font-size:12pt;">&#8221;), i