EX-10.21
from 10-K
2 pages
Date of Employment - We Anticipate That You Will Begin Employment on the Date of the Consummation of the Transaction Base Salary - Your Starting Annual Salary Will Be $425,000.00 Payable Bi-Weekly. Annual Cash Bonus - You Will Be Eligible to Participate in Our Management Incentive Compensation Plan (Mip) With a Target of 65% of Your Base Salary Beginning January 1, 2022. the Actual Mip Payout Is Based on the Achievement of ESAB Financial Performance Against Pre-Set Thresholds, Targets, Maximums, and Your Individual Performance Factor of Up to 1.5 Times the Financial Factor. the Maximum Payout Is 250% of Target. Equity Awards - You Will Be Eligible for an Equity Grant for 2022 in an Amount Equal to $680,000.00. in Subsequent Years You Will Be Eligible for Equity Grants Based on Your Position and Performance in Accordance With Our Equity GUIDELINES.THE Terms and Conditions of Equity Awards Will Be in Accordance With ESAB's 2022 Omnibus Incentive Plan or Successor Plan. 401(k) - You Will Have the Opportunity to Participate in the ESAB 401(k) Savings Plan Plus Plan With Matching Contributions. ESAB Matches 100% of the First 4% That You Contribute, and These Matching Contributions Vest Immediately. in Addition, at Its Discretion, ESAB Will Make Non Elective Contributions of 2% Into Your Account, Vesting Immediately
12/34/56