Offer Letter

A gross cash sign-on bonus of $1,550,000, to be paid within 30 days from your start date. It is understood that if prior to completing one year of service, you are terminated for cause or if you voluntarily terminate employment with Cardinal Health, you would be responsible for reimbursing to Cardinal Health 100% of this sign-on bonus. If such a termination event occurs after one year of service, but before the completion of two years, you would be responsible

You will be awarded LTI grants with an expected value of $2,000,000 as of the grant date, with $1,000,000 delivered in RSUs and $1,000,000 delivered in PSUs subject to approval by the Compensation Committee. The grants will be made on May 15, 2020, assuming you are employed by us on that date. The awards will be valued in accordance with Cardinal Health’s standard valuation practices. Standard terms and conditions apply. RSUs and PSUs may be subject to deferred payment if you so elect before your start date.

Health, Life and Disability Plans – You will receive more information on these benefits during your new hire orientation session.

401(k) Savings Plan – You are eligible to participate in the Cardinal Health 401(k) Savings Plan on the first day of your employment. You may contribute up to 50% of your pre-tax earnings to the Plan (subject to IRS maximum limits). Currently, if you contribute 5% or more you will receive the maximum company matching contribution of 5%. Cardinal Health also matches contributions from below 5% at various levels, and we can provide additional details upon request. These matching dollars are immediately 100% vested. In addition to the company match, Cardinal Health may make discretionary company contributions to your 401(k) account. These discretionary company contributions are 100% vested after three years of service. Enrollment information will be sent to you by Wells Fargo, our financial benefits service provider.

Deferred Compensation Plan – This plan enables you to save over the IRS limits in the qualified 401(k) plan. Cardinal Health provides a match on deferrals from eligible compensation earned between $285,000 and $385,000 and may make a discretionary company contribution to your DCP account. All contributions vest as described in the 401(k) plan. Enrollment information will be sent to you via e-mail by our Benefits department. Note that you must initially enroll within 30 days of your start date and then annually thereafter.

Paid Time Off – Cardinal Health believes that taking time off from work is essential, both personally and professionally. We do not limit the number of sick and vacation days you may take during the year. However, you are expected to balance your work and time off appropriately with respect to business and staffing needs.