International Specialty Products Inc. 2003 Executive Long Term Incentive Plan Agreement (Exhibit 10.4)

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement is between International Specialty Products Inc. and an executive employee, granting the employee incentive units under the company's 2003 Executive Long Term Incentive Plan. The agreement outlines the number of units awarded, the vesting schedule over five years, and the expiration date ten years from the award date. The employee must remain with the company to receive the full benefit of the award as it vests incrementally each year.

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EX-10.4 5 hldgs2q05ex104.txt 2003 EXECUTIVE LONG TERM INCENTIVE PLAN AGREEMENT EXHIBIT 10.4 INTERNATIONAL SPECIALTY PRODUCTS INC. 2003 EXECUTIVE LONG TERM INCENTIVE PLAN AGREEMENT "N" PLAN - ----------------------------------------------------------------------------- [Name] [Address] [ID] Pursuant to the ISP 2003 Executive Long Term Incentive Plan (the "Plan"), you are hereby awarded Incentive Units as follows: Award No. [Number] Award Date [Date] Vesting Schedule 20% [Award Date +1 year] 40% [Award Date +2 years] 60% [Award Date +3 years] 80% [Award Date +4 years] 100% [Award Date +5 years] Expiration Date [Award Date +10 years] Total Number of Units Awarded [Number] Book Value [$ . ] --- --- - ----------------------------------------- --------------- For International Specialty Products Inc. Date