McDERMOTT INTERNATIONAL, INC. Restricted Stock Unit Grant Agreement (March 1, 2018)Restricted Stock Unit Grant Agreement • March 7th, 2018 • McDermott International Inc • Fabricated plate work (boiler shops)
The Compensation Committee of the Board of Directors (the “Committee”) of McDermott International, Inc. (“McDermott” or the “Company”) has selected you to receive a grant of Restricted Stock Units (“RSUs”) under the 2016 McDermott International, Inc. Long-Term Incentive Plan (the “Plan”) on March 1, 2018 (the “Date of Grant”). The provisions of the Plan are incorporated herein by reference.
McDERMOTT INTERNATIONAL, INC. Amended and Restated RSU Grant Agreement (Replacing Performance Unit Grant Agreement dated [●], 2016)Rsu Grant Agreement • March 7th, 2018 • McDermott International Inc • Fabricated plate work (boiler shops)
On December 18, 2017, the Company, Chicago Bridge & Iron Company N.V. (“CB&I”) and certain of their affiliates executed a business combination agreement pursuant to which the Company and CB&I will combine through a series of transactions (the “Combination”). Pursuant to its authority under the Plan, the Committee (as defined in the Plan) has determined that subject to and effective as of the closing of the Combination, each Performance Unit granted under your Performance Unit Grant Agreement dated February 26, 2016 (the “Original Agreement”) will be converted into a time-based restricted stock unit (“RSU”) and the Original Agreement will be amended and restated as follows:
McDERMOTT INTERNATIONAL, INC. Amended and Restated RSU Grant Agreement (Replacing Performance Unit Grant Agreement dated [●], 2017)Rsu Grant Agreement • March 7th, 2018 • McDermott International Inc • Fabricated plate work (boiler shops)
On December 18, 2017, the Company, Chicago Bridge & Iron Company N.V. (“CB&I”) and certain of their affiliates executed a business combination agreement pursuant to which the Company and CB&I will combine through a series of transactions (the “Combination”). Pursuant to its authority under the Plan, the Committee (as defined in the Plan) has determined that subject to and effective as of the closing of the Combination, each Performance Unit granted under your Performance Unit Grant Agreement dated February 26, 2016 (the “Original Agreement”) will be converted into a time-based restricted stock unit (“RSU”) and the Original Agreement will be amended and restated as follows:
McDermott Recognition Program Award AgreementMcDermott Recognition Program Award Agreement • March 7th, 2018 • McDermott International Inc • Fabricated plate work (boiler shops)
As you know, McDermott International, Inc. (together with its subsidiaries, “McDermott”) and Chicago Bridge & Iron Company, N.V. (“CBI”) have entered into an Business Combination Agreement, dated as of December 18, 2017 (as such may be amended from time to time, the “BCA”), pursuant to which McDermott and CB&I have agreed to combine their businesses (the “Proposed Combination”).
