SEC Contract Filing

Filing Date: 2023-03-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.17
<SEQUENCE>3
<FILENAME>ex10172023performancecashu.htm
<DESCRIPTION>EX-10.17
<TEXT>
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<title>Document</title></head><body><div id="i54b5c1b0103b4a52a16bc74caf986b95_1"></div><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="padding-left:6.75pt;padding-right:6.75pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">Rayonier Advanced Materials Inc. </font></div><div style="padding-left:6.75pt;padding-right:6.75pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">2023 Performance Cash Unit Award Agreement</font></div><div><font><br></font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">This agreement (&#8220;Award Agreement&#8221;) is entered into by and between Rayonier Advanced Materials Inc., a corporation organized under the laws of the State of Delaware, with its principal office at 1301 Riverplace Boulevard, Suite 2300, Jacksonville, FL 32207 (the &#34;Company&#34;), and the undersigned qualified individual (&#34;Participant&#34;), pursuant to the Rayonier Advanced Materials Inc. 2021 Incentive Stock Plan, as amended (the &#34;Plan&#34;), as of this 1st day of March 2023 (the &#8220;Effective Date&#8221;).</font></div><div style="padding-left:6.75pt;padding-right:6.75pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">W I T N E S S E T H &#58;</font></div><div style="padding-right:13.5pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">WHEREAS, the Compensation and Management Development Committee of the Company's Board of Directors, in its capacity as the Committee under the Plan (the &#34;Committee&#34;), desires to advance the best interests of the Company by recognizing the achievements of Participant and Participant&#8217;s continued responsibilities&#59;</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">WHEREAS, the Committee has expressed an intention to grant a performance-based cash award to Participant which shall be in the form of cash-settled units (&#34;Performance Cash Units&#34;), with such Performance Cash Units to vest as provided in this Award Agreement, provided Performance Objectives are achieved, Participant remains continuously employed by the Company from the date hereof through the Vesting Date, and otherwise subject to all terms and conditions of this Award Agreement, including Schedule A, the Plan and any appendix hereto (collectively, the &#8220;Award&#8221;)&#59; and </font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">WHEREAS, this Award Agreement is being entered into to convey the Award of Performance Cash Units to Participant. </font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">NOW THEREFORE, in consideration of the mutual promises made herein, the parties agree as follows&#58;</font></div><div style="margin-bottom:12pt;padding-left:36pt;padding-right:36pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">1. </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Definitions</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">All capitalized terms not expressly defined in this Award Agreement and used herein shall have the same meaning set forth in the Plan, a copy of which has been provided to Participant.</font></div><div style="margin-bottom:12pt;padding-left:36pt;padding-right:36pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2. </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Award of Units&#59; Vesting</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(a) </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Units Awarded</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">. Participant is hereby awarded ___ Performance Cash Units, representing Participant&#8217;s Target Award, subject in all respects to the terms of this Award Agreement, including Schedule A, and the Plan, as of the Effective Date. Each Performance Cash Unit under this Award Agreement, if earned, represents the right to receive a cash payment equal to $1 on the Vesting Date.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(b) </font><font style="color:#000000;