EX-10.2
from 8-K
1 page
November 21, 2024 · Your Annualized Base Salary, Which Considers a Merit Increase for 2025, Will Be $650,000 Per Year (“Annual Base Salary”). · You Will Continue to Be Eligible to Participate in the Company’s Short-Term Incentive (Sti) Plan. the Target Bonus Percentage for Your Position Level Is 90% of Your Annual Base Salary. · You Will Continue to Be Eligible to Participate in the Company’s Long-Term Incentive (Lti) Plan. the Target Grant Percentage for Your Position Level Is 250% of Your Annual Base Salary. · as an Executive Officer of LYB, Your Future Compensation, Including Grants of Incentive Compensation, Will Be Subject to Approval by the Board
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EX-10.1
from 8-K
2 pages
November 21, 2024 Michael McMurray, CFO via Email 1. Retirement Date and Transition Period Your Retirement Will Be Effective as of March 1, 2026 (The “Retirement Date”). Until the Retirement Date, You Will Continue to Perform Your Duties and Responsibilities to the Company as Follows: A) From the Date Hereof Through February 28, 2025, You Will Serve as Executive Vice President and Chief Financial Officer; B) From March 1, 2025 Until Your Retirement Date (The “Transition Period”), You Agree to Assist in the Transition of Your Duties to Your Successor and to Provide Such Services as May Be Reasonably Requested by the Company and as an Advisor to the CEO to Ensure a Smooth Transition. 2. Compensation and Benefits A) Salary: Your Base Salary Will Continue to Be Subject to Annual Review by the Board of Directors of the Company During the Period You Serve as Chief Financial Officer. During the Transition Period, You Will Continue to Receive Your Current Base Salary Through the Retirement Date. B) Incentive Compensation: You Will Continue to Be Eligible to Participate in the Company’s Incentive Programs, Subject to the Terms and Conditions Thereof
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