Trinseo S.A. Letter Agreement with Martin Pugh Regarding Definition of Retirement for Equity Awards
This letter agreement between Trinseo S.A. and Martin Pugh clarifies the definition of "Retirement" for the purposes of stock options and restricted stock units granted under the company's 2014 Omnibus Incentive Plan. It states that if Mr. Pugh's employment ends on or after March 1, 2017, due to his employment agreement expiring without renewal, it will be considered a retirement for equity award purposes. This definition applies to all current and future equity awards unless otherwise notified.
| | Exhibit 10.4
Trinseo S.A. 4, rue Lou Hemmer L-1748 Luxembourg – Findel Grand Duchy of Luxembourg |
March 1, 2016
Mr. Martin Pugh
Dear Mr. Pugh:
RE: Definition of Retirement for Purposes of Equity Awards under 2014 Omnibus Incentive Plan (the "Plan")
This letter confirms that the following definition of "Retirement" is applicable to all Stock Options granted to you under the Plan to date and in the future unless otherwise notified, in addition to the definition set forth in the Non-Statutory Stock Option Agreement:
"Retirement" also means a termination of Employment on or after March 1, 2017 if the Optionee's current employment agreement expires without renewal on March 1, 2017.
This letter confirms that the following definition of "Retirement" is applicable to all Restricted Stock Units granted to you under the Plan to date and in the future unless otherwise notified, in addition to the definition set forth in the Restricted Stock Unit Agreement:
"Retirement" also means a termination of Employment on or after March 1, 2017 if the Grantee's current employment agreement expires without renewal on March 1, 2017.
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| Trinseo S.A. | |
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| By: | /s/ Christopher D. Pappas |
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| Name: | Christopher D. Pappas |
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| Title: | President and Chief Executive Officer |
