8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 18, 2020

OLIN CORPORATION

(Exact name of registrant as specified in its charter)

Virginia	1-1070	13-1872319
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

190 Carondelet Plaza,	Suite 1530	Clayton,	MO	63105
(Address of principal executive offices)				(Zip Code)

(314) 480-1400

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class		Trading Symbol	Name of each exchange on which registered
Common Stock, $1.00 par value per share		OLN	New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☐	Emerging growth company
☐	If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e)

On February 18, 2020, the Compensation Committee (the Committee) of the Board of Directors of Olin Corporation (Registrant) approved the Registrant’s 2020 Short Term Incentive Program (the Olin STIP). The Olin STIP, which is administered by the Committee, is a performance-based annual cash incentive program covering all Olin employees who are designated as “officers” under Section 16(b) of the Securities Exchange Act of 1934, as well as certain other Olin employees eligible for variable compensation.

Under the Olin STIP, targets will be established for the 2020 financial goals (Adjusted Earnings Per Share, Adjusted EBITDA and Cash Flow) and non-financial strategic objectives. For 2020, 80% of the target awards to officers under the Olin STIP will be based on achievement of financial metrics and 20% of the target awards will be based on achievement of non-financial objectives. No payments will be made under the Olin STIP based on achievement of financial metrics if performance falls below 75% of the target metrics. If performance exceeds the target financial metrics, the portion of the STIP payment based on financial performance will exceed 80% of the target award, provided that the total STIP payment shall not exceed 200% of a participant’s target award. Payout based on achievement of non-financial objectives is independent of achievement of financial metrics.

The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the text of the Olin STIP, a copy of which is filed as Exhibit 10.1 and is incorporated by reference into this Item 5.02.

Item 9.01.    Financial Statements and Exhibits.

(d) Exhibit No.	Exhibit
10.1	Olin Corporation Short Term Incentive Program dated February 18, 2020.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

OLIN CORPORATION
By:	/s/ Eric A. Blanchard
	Name:	Eric A. Blanchard
	Title:	Vice President, General Counsel and Secretary

Date: February 21, 2020

EX-10.1

Exhibit 10.1 2020 Short Term Incentive Program (STIP) Plan Provision Terms of the Plan Program Participation . Section 16 Officers . All exempt, non‐exempt and hourly employees eligible for variable compensation Financial Objectives . Corporate – Adjusted EBITDA, Adjusted Cash Flow . Division – Adjusted EBITDA, Adjusted Cash Flow, Working Capital Non‐Financial Objectives . For both Corporate and Divisions includes Safety and Environmental objectives Weighting . Corporate – Adjusted EBITDA (65%); Cash Flow (15%); Non‐Financial (20%) . Divisions – Adjusted EBITDA (65%); Cash Flow (15%); Non‐Financial (20%) Target Setting . Adjusted EBITDA Target set by averaging prior year actual performance and current year budget . Cash Flow Target is equal to current year budget . Working Capital Target is equal to current year budget Leverage . Threshold – 75% . Maximum – 125% . No individual award may exceed 200% of target (applies to all participants including Officers) Financial Objectives Payouts . Financial objectives at Threshold payout is 50%  . Financial objectives below Threshold payout is Zero  . If Adjusted EBITDA is less than Threshold, all financial payouts are discretionary . Payout at Maximum for financial objectives is 160%, based on weighting . Payouts scale down 2.0% for every 1% below target; Scale up 4.0% for every 1% above target  Non‐Financial Objectives Payouts . Payout on achievement of Non‐Financial Objectives is independent of performance on Financial  Objectives    . Payout at 100% achievement of Non‐Financial Objectives is 20% Page 1

2020 Short Term Incentive Program (STIP) Financial Objectives Payout Scale (Example) Total Payout On  Target Achievement Payout Percentage Financial Targets after Weighting Below 75% 0% 0% 75% 50% 40% 80% 60% 48% 85% 70% 56% 90% 80% 64% 95% 90% 72% 100% 100% 80% 105% 120% 96% 110% 140% 112% 115% 160% 128% 120% 180% 144% 125% 200% 160% Note:  This scale will be applied to each financial objective independently.  However, if Adjusted EBITDA is less than Threshold (75% of Target),  then all financial payouts are discretionary with the Compensation Committee.   Page 2

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Document and Entity Information	Feb. 18, 2020
Cover page.
Entity Registrant Name	OLIN CORPORATION
Entity Central Index Key	0000074303
Document Type	8-K
Amendment Flag	false
Document Period End Date	Feb. 18, 2020
Entity Incorporation, State or Country Code	VA
Entity File Number	1-1070
Entity Tax Identification Number	13-1872319
Entity Address, Address Line One	190 Carondelet Plaza,
Entity Address, Address Line Two	Suite 1530
Entity Address, City or Town	Clayton,
Entity Address, State or Province	MO
Entity Address, Postal Zip Code	63105
City Area Code	314
Local Phone Number	480-1400
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $1.00 par value per share
Trading Symbol	OLN
Security Exchange Name	NYSE
Entity Emerging Growth Company	false