EX-10.19
from 10-K/A
6 pages
On Behalf of Utz Quality Foods, LLC I Am Pleased to Offer You the Position of Chief Customer Officer, Reporting to Tom Flocco, President and COO (Upon His Appointment on 4/24/17). Please Note That This Offer Is Contingent on Your Passing Our Drug Screen and Background Check. Under a Separate Cover, Human Resources Will Send You a Release for a Background Check. Please Complete This Form and Return It in the Self-Addressed Envelope That Is Provided. the Release Form Does Not Need to Be Notarized. This Position, Chief Customer Officer, Is an Exempt, Full-Time Position Based in Hanover, Pa at Our Corporate Offices. as Discussed, Your Start Date Will Be No Later Than May 8, 2017. Salary, Bonus, & Long-Term Incentive Plan Should You Choose to Accept This Offer Your Starting Salary Will Be $7,211.54 Per Week, or $375,000 Annually. in This Position, You Will Be Eligible for an Annual Bonus Opportunity, Which Is Based on Company Performance According to the Below Schedule: •if the Company Achieves Adj. EBITDA of $85.0 Million, Annual Bonus Will Be 50% of Base Salary; •if the Company Achieves Adj. EBITDA of $100.0 Million, Annual Bonus Will Be 75% of Base Salary; and •if the Company Achieves Adj. EBITDA of $115.0 Million, Annual Bonus Will Be 125% of Base Salary. a Full Description of the Annual Bonus Plan and Definitions Will Be Forthcoming as the Company Finalizes Both Annual and Long-Term Incentive Plans. Your Bonus Payout for 2017 Will Assume You Started Work on January 1, 2017 and Will in No Circumstances Be Less Than $200,000. Additionally, You Will Be Eligible for the Long-Term Equity Incentive Plan (Full Details of This Plan Will Be Forthcoming Upon Its Finalization and Board Approval). the Plan Will Provide You With 7.5% of the 500-Basis Point Pool Allocated to Management, or 37.5 Basis Points. Legal\46573193\1 Signing Bonus & Relocation as Part of Your Offer, You Will Receive: (A)a Signing Bonus of $250,000 Payable the Week of May 8, 2017 And
12/34/56
EX-10.19
from 10-K
6 pages
On Behalf of Utz Quality Foods, LLC I Am Pleased to Offer You the Position of Chief Customer Officer, Reporting to Tom Flocco, President and COO (Upon His Appointment on 4/24/17). Please Note That This Offer Is Contingent on Your Passing Our Drug Screen and Background Check. Under a Separate Cover, Human Resources Will Send You a Release for a Background Check. Please Complete This Form and Return It in the Self-Addressed Envelope That Is Provided. the Release Form Does Not Need to Be Notarized. This Position, Chief Customer Officer, Is an Exempt, Full-Time Position Based in Hanover, Pa at Our Corporate Offices. as Discussed, Your Start Date Will Be No Later Than May 8, 2017. Salary, Bonus, & Long-Term Incentive Plan Should You Choose to Accept This Offer Your Starting Salary Will Be $7,211.54 Per Week, or $375,000 Annually. in This Position, You Will Be Eligible for an Annual Bonus Opportunity, Which Is Based on Company Performance According to the Below Schedule: •if the Company Achieves Adj. EBITDA of $85.0 Million, Annual Bonus Will Be 50% of Base Salary; •if the Company Achieves Adj. EBITDA of $100.0 Million, Annual Bonus Will Be 75% of Base Salary; and •if the Company Achieves Adj. EBITDA of $115.0 Million, Annual Bonus Will Be 125% of Base Salary. a Full Description of the Annual Bonus Plan and Definitions Will Be Forthcoming as the Company Finalizes Both Annual and Long-Term Incentive Plans. Your Bonus Payout for 2017 Will Assume You Started Work on January 1, 2017 and Will in No Circumstances Be Less Than $200,000. Additionally, You Will Be Eligible for the Long-Term Equity Incentive Plan (Full Details of This Plan Will Be Forthcoming Upon Its Finalization and Board Approval). the Plan Will Provide You With 7.5% of the 500-Basis Point Pool Allocated to Management, or 37.5 Basis Points. Legal\46573193\1 Signing Bonus & Relocation as Part of Your Offer, You Will Receive: (A)a Signing Bonus of $250,000 Payable the Week of May 8, 2017 And
12/34/56
