Amendment to 1997 Stock Plan for Non-Employee Directors (Olin Corporation, January 25, 2008)
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Summary
Olin Corporation's Board of Directors amended the 1997 Stock Plan for Non-Employee Directors on January 25, 2008. The amendment changes the annual stock grant provision so that each non-employee director will receive shares of common stock valued at $65,000, rounded to the nearest 100 shares, on the first credit date each year. This amendment updates the method for determining the annual stock grant for non-employee directors.
EX-10.N 8 nonemployee1997dirplanamend.htm 1997 STOCK PLAN FOR NON-EMPLOYEE DIRECTORS AMENDMENT ADOPTED JANUARY 25, 2008 nonemployee1997dirplanamend.htm
Exhibit 10(n)
1997 Stock Plan for Non-employee Directors
Amendment adopted by Olin Corporation Board of Directors on January 25, 2008
RESOLVED that the first sentence of Section 6(a) of the 1997 Stock Plan for Non-employee Directors shall be deleted in its entirety and the following new first sentence shall be inserted in lieu thereof:
Annual Stock Grant. Subject to the terms and conditions of the Plan, on the first Credit Date each year, each Non-employee Director shall be credited with a number of shares of Common Stock with an aggregate Fair Market Value on such Credit Date equal to $65,000, rounded to the nearest 100 shares.
