Amendment No. 1 to NewPage Holdings Inc. 2012 Long-Term Incentive Plan

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This amendment updates the 2012 Long-Term Incentive Plan of NewPage Holdings Inc. to allow the company to pay cash to director participants from withheld common stock to cover taxes due upon vesting or exercise of awards. The director is then responsible for remitting these taxes to the appropriate authorities. The amendment was signed by the company's President and CEO on February 7, 2014.

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EX-10.26 2 exhibit1026_2012ltipamendm.htm EXHIBIT 10.26 Exhibit1026_2012LTIPAmendmentNo1
Exhibit 10.26


NEWPAGE HOLDINGS INC.
2012 LONG-TERM INCENTIVE PLAN
AMENDMENT NO. 1


This amendment (“Amendment”) to the 2012 Long-Term Incentive Plan (“LTIP”) of NewPage Holdings Inc. (“NewPage”) is made as of November 11, 2013 as follows:
(1)
Section 15.4 (Tax Withholding) of the LTIP is amended by adding the following sentence at the end: “The Company may pay cash to a director Participant from Common Stock withheld on vesting and/or exercise in an amount equal to the taxes due on vesting and/or exercise (whether required or not) for remittance by the director Participant to the proper taxing authorities.”

Date: February 7, 2014
 
 
 
NEWPAGE HOLDINGS INC.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
By:  /s/ George F. Martin
 
 
 
 
George F. Martin
 
 
 
 
President and Chief Executive Officer