SEC Contract Filing

Filing Date: 2016-11-03

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d253033dex101.htm
<DESCRIPTION>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OMNIBUS AMENDMENT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TO
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OUTSTANDING STOCK OPTION AGREEMENTS UNDER </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FMSA HOLDINGS INC. 2006 LONG TERM INCENTIVE COMPENSATION PLAN </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">THIS OMNIBUS AMENDMENT is made this 28<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> day of October, 2016, by Fairmount Santrol
Holdings Inc. (the &#147;Company&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WITNESSETH: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, from time to time the Company has granted stock options under the FMSA Holdings Inc. 2006 Long Term Incentive Compensation Plan, as
amended and restated as of September 11, 2014 (the &#147;2006 Plan&#148;), as such awards are set forth in certain Stock Option Agreements (the &#147;Agreements&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, it is the desire of the Company to amend such Agreements to provide that certain nonvested Option Shares (as defined in the
Agreements) shall remain exercisable for one year following the optionee&#146;s separation from service due to disability and for the full term of the option following an optionee&#146;s retirement; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Compensation Committee of the Board of Directors of the Company has determined that, pursuant to Section 3.2(c) of the 2006 Plan,
the Company has the power to amend such Agreements without the written consent of the optionholder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, effective as of
October 28, 2016, with respect to all currently outstanding stock options granted under the 2006 Plan, the Company hereby amends all currently outstanding Agreements as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.&nbsp;&nbsp;&nbsp;&nbsp;The Agreements are hereby amended by replacing Section 4(b) in its entirety with the following: </P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left">&#147;(b)</TD>
<TD ALIGN="left" VALIGN="top">the expiration of one (1) year from the date of the Optionee&#146;s separation from service due to his or her death or Disability (as defined below);&#148; </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">2.&nbsp;&nbsp;&nbsp;&nbsp;The Agreements are hereby amended by replacing Section 4(c) in its entirety with the following: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left">&#147;(c)</TD>
<TD ALIGN="left" VALIGN="top">the expiration of thirty (30) days from the date of the Optionee&#146;s separation of service (other than Retirement (as defined below)) within one year of a Change in Control;&#148; </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3.&nbsp;&nbsp;&nbsp;&nbsp;The Agreements are hereby amended by replacing Section 4(d) in its entirety with the following: </P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left">&#147;(d)</TD>
<TD ALIGN="left" VALIGN="top">immediately upon the date such Optionee ceases to be an Employee, an Officer, or a Member of the Board, unless such Optionee ceases to be an Employee, an Officer, or a Member of the Board by reason of death, Disability,
Retirement or separation of service within one year of a Change in Control.&nbsp;For the avoidance of doubt, if the Optionee Retires, the Option shall remain exercisable until the tenth (10<SUP STYLE="font-size:85%; vertical-align:top">th</SUP>)
anniversary of this Agreement. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">For purposes of this Agreement, the following terms shall have the following meanings: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&#145;Disability&#146; shall mean a permanent and total disability as defined in Section&nbsp;22(e)(3) of the Code; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&#145;Retirement&#146; or &#145;Ret