Arch Chemicals, Inc. 2004 Performance Share and Retention Unit Award Details under 1999 Long Term Incentive Plan
Arch Chemicals, Inc.'s Compensation Committee granted performance share units and performance share retention units to executives under the company's 1999 Long Term Incentive Plan. The performance share units pay out in cash if specific return on equity goals are met during the second or third year of a three-year period. If the minimum targets are not met, the retention units may still pay out after 2009, provided the executive remains employed by the company.
Exhibit 10.18(a)
Additional Details Regarding the 2004 Awards
On February 5, 2004, the Compensation Committee of the Board of Directors of Arch Chemicals, Inc. granted and set performance goals for performance share units and performance share retention units under, and subject to, the Arch Chemicals, Inc. 1999 Long Term Incentive Plan. The performance share units pay out in cash if a certain return on equity (“ROE”) is met for the second or third calendar year of the three-year performance period. The performance share retention units are similar to the performance share units except if no payout results due to the failure to reach the minimum required ROE target by the end of the three-year period, the units will payout following 2009 if the executive is still employed by the Company at that time.
