EX-10.17
from 10-Q
3 pages
Term: Your Employment Will Be for a Term of 12 Months. Salary: $900,000 (US Dollars) Paid Bi-Weekly Annual Executive Incentive Plan (“Aeip”): Your Aeip Target Is 100% of Your Base Salary as of December 31st Each Plan Year. Payments Are Made in the Company’s Discretion and Are Generally Based on Company and Business Financial Performance; Individual Performance; and Other Non-Financial Metrics, Such as Safety. for the Performance Year 2024, Any Bonus Earn Will Be Pro Rated Based on Your Employment Start Date. Long-Term Incentive Plan (“Ltip”): The Grant Value of Your Annual Equity Award Will Be $2,500,000 (US Dollars). Ltip Awards Are Typically Granted in March Each Year (Except 2024 Which Will Be in Q2 2024), With the Award Type and Terms Determined by the Compensation Committee of the Board of Directors. All Ltip Awards Will Be Governed by the Terms and Conditions Consistent With Awards Made to Other Similarly Situated Officers of the Company. Benefits: You Will Also Be Eligible to Participate in the Company’s Benefit Plans, Such as Health and Wellness Benefits and the Retirement Savings Plan. All Compensation Hereunder Is Subject to the Approval of the Compensation Committee of the Board of Directors, Which Is Expected to Be in April 2024. All Aspects of These and Other Benefits Will Be Governed by the Terms of the Applicable Plan or Program. Restrictive Covenants. as a Condition of Your Employment, You Agree to Sign and Abide by the Company’s Standard Non-Solicitation Agreement Which Will Be Provided to You in Connection With the On-Boarding Process. (A) Non-Solicitation of Employees You Will Not Either During Your Employment or for a Period of 12 Months After Leaving the Company's Employment Unless Approved in Advance by the Company
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