SEC Contract Filing

Filing Date: 2016-02-25

Document Content:
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>7
<FILENAME>mtrn-ex10v_20151231.htm
<DESCRIPTION>EXHIBIT 10V
<TEXT>
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<a name="sD5DD23F4F7FC56674B9E19CB6F7EDE60"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10v</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">[Approved February 22, 2016. 2016 Cash-Settled PRSUs]</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><br><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">MATERION CORPORATION</font></div><div style="line-height:120%;padding-bottom:24px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Performance-Based Restricted Stock Units Agreement</font></div><div style="line-height:240%;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, ___________________ (the &#8220;Grantee&#8221;) is an employee of Materion Corporation, an Ohio corporation (the &#8220;Corporation&#8221;), or a Subsidiary; and</font></div><div style="line-height:240%;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the execution of an agreement in the form hereof (this &#8220;Agreement&#8221;) has been authorized by resolution of the Compensation Committee (the &#8220;Committee&#8221;) of the Board of Directors of the Corporation that was duly adopted on __________, 2016.</font></div><div style="line-height:240%;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, pursuant to the Materion Corporation 2006 Stock Incentive Plan (As Amended and Restated as of May 7, 2014) (the &#8220;Plan&#8221;), and subject to the terms and conditions thereof and the terms and conditions hereinafter set forth, the Corporation hereby confirms to the Grantee the grant of (1) a targeted number of _______ performance-based Restricted Stock Units to be earned, if at all, on the basis of the achievement of the portion of the Management Objectives measured by ROIC goals during the Performance Period (as defined below) (the &#8220;ROIC PRSUs&#8221;) and (2) a targeted number of _______ performance-based Restricted Stock Units to be earned, if at all, on the basis of the achievement of the portion of the Management Objectives measured by RTSR goals during the Performance Period (the &#8220;RTSR PRSUs&#8221; and, together with the ROIC PRSUs, the &#8220;PRSUs&#8221;), effective on __________, 2016 (the &#8220;Date of Grant). Subject to the attainment of the Management Objectives described in Section 3 of Article II of this Agreement and the Statement of Management Objectives as approved by the Compensation Committee with respect to the PRSUs on the Date of Grant (the &#8220;Statement of Management Objectives&#8221;), the Grantee may earn from 0% to 200% of the ROIC PRSUs and from 0% to 200% of the RTSR PRSUs.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:center;text-indent:0px;"><font style="padding-bottom:16px;text-align:center;font-family:inherit;font-size:12pt;padding-right:0px;">ARTICLE I</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:12pt;">&#32;<br>DEFINITIONS</font></div><div style="line-height:240%;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">All terms used herein with initial capital letters that are defined in the Plan shall have the meanings assigned to them in the Plan, and the following additional terms, when used herein with initial capital letters, shall have the following meanings:</font></div><div style="line-height:240%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#8220;Committee Determination Date&#8221; means the date following the end of the Performance Period on which the Committee determines the level of attainment of the Management Objectives for the Performance Period.</font></div><div style="line-height:240%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#8220;Management Objectives&#8221; means the threshold, target and maximum goals established by the Committee for the Performance Period with respect to both ROIC and RTSR as described in the Statement of Management Objectives. No adjustment of the Management Objectives shall be permitted in respect of any PRSUs granted to the Participant if at the Date of Grant he or she is, or is determined by the Committee to be likely to become, a &#8220;covered employee&#8221; within the meaning of Section 162(m) of the Code (or any successor provision) if such adjustment would result in the loss of an otherwise available exemption under Section 162(m) of the Code.</font></div><div style="line-height:240%;text-align:l