Georgia Gulf Corporation Stock Option Forfeiture Letter Agreement
This agreement is between an officer and Georgia Gulf Corporation. The officer voluntarily gives up stock options granted on February 28, 2005, at a price of $53.38, so the company can grant options to other employees. The officer acknowledges that the company is not obligated to provide any replacement equity awards and that the forfeited options will not be re-granted to them in the future.
Exhibit 10.1
Date
Georgia Gulf Corporation
115 Perimeter Center Place
Atlanta, GA 30346
Re: Forfeiture of Stock Options
Dear ,
This letter is to advise you that I voluntarily forfeit stock options granted to me on February 28, 2005 with a grant price of $53.38. The purpose is to return these to the Company so that the Company may make further grants to other employees. I acknowledge that the Company has made no commitment to grant any new equity awards to replace the forfeited options and I understand that the options I have forfeited will not be used to make a future equity grant to me.
Sincerely,
Officer
