EX-10.1
from 8-K
4 pages
Confidential August 21, 2023 Ivan Tornos Dear Ivan, We Are Pleased to Offer You the Role of President and Chief Executive Officer (CEO) of Zimmer Biomet Holdings, Inc. (The Company or Zimmer Biomet). You Will Report Directly to the Company’s Board of Directors. Your Salary Grade Will Be Level Z01. Your Start Date as President and CEO Will Be Tuesday, August 22, 2023 (The “Effective Date”), at Which Time You Will No Longer Serve as the Company’s Chief Operating Officer. Initial Base Salary in This Role, Beginning on the Effective Date, Your Initial Annualized Salary Will Be One Million Two Hundred Thousand Dollars ($1,200,000). Annual Merit Adjustment Zimmer Biomet’s Annual Merit Review Process Involves Base Pay Adjustments Consistent With Job Performance. Merit Adjustment Are Based on Performance During the Calendar Year. Executive Performance Incentive Plan
12/34/56
EX-10.1
from 8-K
4 pages
Neither This Letter Nor Any Other Written or Oral Statement by the Company, Including Any Policy Manual or Handbook, Creates a Contract of Employment, Express or Implied, or a Guarantee of Employment for Any Specific Time Period. at All Times, Your Employment Will Be at Will, Meaning Either You or Zimmer Biomet May Terminate Your Employment for Any Reasons and at Any Time, With or Without Notice. Annual Merit Adjustment Beginning in 2023, You Will Be Eligible for Zimmer Biomet’s Annual Merit Review Process Which Involves Possible Base Pay Adjustments Consistent With Your Job Performance. Your First Merit Adjustment May Be Pro-Rated, Depending on Your Hire Date. Executive Performance Incentive Plan
12/34/56