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Share Name | Share Symbol | Market | Type |
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OMNOVA Solutions Inc | NYSE:OMN | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 10.14 | 0 | 01:00:00 |
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Ohio
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1-15147
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34-1897652
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(State or Other Jurisdiction
of Incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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25435 Harvard Road, Beachwood, Ohio
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44122-6201
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(Address of Principal Executive Offices)
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(Zip Code)
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¨
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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¨
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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¨
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 1.01
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Entry into Material Definitive Agreement
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Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
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Annual base salary at a rate of $640,000 per year, subject to annual review by the Compensation and Corporate Governance Committee of the Board (the “
Committee
”);
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Eligibility to receive annual cash incentive opportunities, with a 2017 fiscal year target opportunity set at 100% of base salary, with the amount of payment conditioned upon performance against criteria established by the Committee;
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Eligibility to participate in the Company’s long-term incentive programs, with a 2017 fiscal year target opportunity set at 125% of base salary, with the amount of payment conditioned upon performance against criteria established by the Committee;
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Eligibility to receive equity grants made by the Committee under the Company's Third Amended and Restated 1999 Equity Performance and Incentive Plan (or its successor plans), with a 2017 equity grant in the form of time-vested restricted shares to be valued at 75% of base salary;
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Continued eligibility to participate in the Company’s employee benefits programs, including its retirement, health and welfare plans and programs, subject to the terms and conditions of the applicable plans and programs;
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In the event of a termination "without cause" or for "good reason" (each as defined in the agreement), cash severance equal to two times Ms. Noonan's base salary and target annual incentive for the year of termination, continued medical, dental, and life insurance benefits for a
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In the event of a termination "without cause" or for "good reason" within twenty-four months following a change in control of the Company, cash severance equal to three times Ms. Noonan's base salary and target annual incentive for the year of termination, continued medical, dental, and life insurance benefits for a period of twenty-four months following separation from service, the value of accrued benefits and incentive bonuses, a prorated bonus for incomplete annual incentive periods, and the value of long-term incentive bonuses assuming target performance for any incomplete bonus periods; and
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Four weeks of vacation per year.
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OMNOVA SOLUTIONS INC.
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By:
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/s/ James C. LeMay
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Name:
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James C. LeMay
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Title:
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Senior Vice President, Corporate Development;
General Counsel
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Date:
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December 2, 2016
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1 Year OMNOVA Solutions Chart |
1 Month OMNOVA Solutions Chart |
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