SEC Contract Filing

Filing Date: 2019-05-15

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit101.htm
<DESCRIPTION>EXHIBIT 10.1
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<div><a name="s12b6d2e7bd1f468eb328d7afbd4914ee"></a></div><div><div style="line-height:120%;padding-top:12px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:4px;padding-top:0px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Exhibit 10.1</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:0px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">HEXION HOLDINGS LLC</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:0px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(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;)</font></div><div style="line-height:120%;padding-top:0px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">2019 LONG-TERM INCENTIVE PROGRAM </font></div><div style="line-height:120%;padding-top:0px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">2019 LTI Program</font><font style="font-family:inherit;font-size:12pt;">&#8221;)</font></div><div style="line-height:120%;padding-top:0px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><div style="line-height:120%;padding-top:0px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-top:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:9pt;">I.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Purpose of the Program</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:justify;padding-left:48px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><div style="line-height:120%;padding-top:0px;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">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.</font></div><div style="line-height:120%;padding-top:0px;text-align:justify;padding-left:48px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-top:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:9pt;">II.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Program Years</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:justify;padding-left:48px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><div style="line-height:120%;padding-top:0px;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">This program runs concurrently with the annual Incentive Compensation Plan (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">ICP</font><font style="font-family:inherit;font-size:11pt;">&#8221;) year for 2019.</font></div><div style="line-height:120%;padding-top:0px;text-align:justify;padding-left:48px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-top:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:9pt;">III.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Eligibility for Participation</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:justify;padding-left:48px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><div style="line-height:120%;padding-top:0px;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">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&#8217;s Compensation Committee of the Board of Managers and the company&#8217;s senior leaders.</font></div><div style="line-height:120%;padding-top:0px;text-align:justif