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Ashland Inc.
ASH today reported, as required by
New York Stock Exchange rules, an equity inducement award made to
William A. Wulfsohn, the company's newly appointed chairman and chief
executive officer who formally joined the company on January 1, 2015.
As an inducement for employment, and as previously disclosed by Ashland
in a Form 8-K filing with the Securities and Exchange Commission,
Wulfsohn received a one-time grant of time-vested restricted stock in
the amount of 50,000 shares on January 2, 2015. The grant was made
outside of the company's current equity plan - the Amended and Restated
2011 Ashland Inc. Incentive Plan. In the event his employment terminates
for reasons other than cause prior to the vesting of these shares,
Wulfsohn will be paid in cash an amount equal to the value of the shares
on the date of grant. All grants will be subject to the requirements of
the company's stock ownership guidelines.
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