Exhibit 10.22
SCHWEITZER-MAUDUIT INTERNATIONAL,
INC.
RESTRICTED STOCK
AGREEMENT
You have been selected to be a recipient of a
grant under the Schweitzer-Mauduit International, Inc.
Restricted Stock Plan (the “Plan”), as specified
below:
GRANTEE:
DATE OF GRANT:
NUMBER OF RESTRICTED SHARES GRANTED:
DATE(S) OF LAPSE OF
RESTRICTIONS:
THIS AGREEMENT, effective as of the
Date of Grant set forth above, is between Schweitzer-Mauduit
International, Inc., a Delaware corporation (the
“Company”) and the Grantee named above, and is entered
into pursuant to the provisions of the Plan. The parties
hereto agree as follows:
1.
Employment by the
Company . The
Restricted Stock granted hereunder is awarded on the condition that
Grantee remain in the employ of the Company from the Date of Grant
through (and including) the Date of Lapse of Restrictions, as
specified above (this time period is referred to herein as the
“Restriction Period”).
However, neither such condition nor
the award of the Restricted Stock shall impose upon the Company any
obligation to retain Grantee in its employ for any given period or
upon any specific terms of employment.
2.
Certified Legend
. Each certificate
representing shares of Restricted Stock granted pursuant to the
Plan shall bear the following legend:
“The sale or other transfer of
the shares of stock represented by this certificate, whether
voluntary, involuntary, or by operation of law, is subject to
certain restrictions on transfer set forth in Schweitzer-Mauduit
International, Inc.’s Restricted Stock Plan
(“Plan”), any rules of administration adopted
pursuant to such Plan, and a Restricted Stock Agreement dated
January 1, 2009. A copy of the Plan, such rules, and
such Restricted Stock Agreement may be obtained from the Secretary
of Schweitzer-Mauduit International, Inc.”
3.
Removal of
Restrictions .
Except as otherwise provided herein and in the Plan, awards granted
under this Agreement shall become freely transferable by Grantee
after the last day of the Restriction Period. Once the awards
are released from the restrictions, Grantee shall be entitled to
have the legend required by Section 2 of this Agreement
removed from his or her stock certificate.
4.
Voting Rights and
Dividends . During
the Restriction Period, Grantee may exercise full voting rights and
is entitled to receive all dividends and other distributions paid
with respect to the shares of Restricted Stock while they are
held. If any such dividends or
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