Compensation Adjustment Letter for Thomas Castellano from Catalent, Inc.

Contract Categories: Human Resources › Compensation Agreements
Summary

Catalent, Inc. has notified Thomas Castellano of an increase in his total direct compensation, effective July 21, 2022. His annual base salary will rise to $550,000, his Management Incentive Plan target for fiscal year 2023 will increase to $450,000, and his Long-Term Incentive Plan target for the 2023–2025 period will increase to $1,250,000. All other employment terms remain unchanged. This letter serves as formal confirmation of these compensation adjustments.

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EX-10.5 4 catalent-2022930xex105tcof.htm EX-10.5 Document



July 27, 2022


Thomas Castellano


Dear Tom,

I am very pleased to share that the Compensation and Leadership Committee of the Board of Directors has approved an increase to your Total Direct Compensation (“TDC”) comprising your base salary, short-term cash incentive and long-term equity incentives. The specific changes to your TDC are outlined below.

•Base Pay: Effective July 21, 2022, your annual rate of pay will increase to $550,000.

•MIP Target: You will continue to participate in the Management Incentive Plan (“MIP”). Your MIP target for fiscal year 2023 (July 1, 2022 – June 30, 2023) will increase to $450,000.

•LTIP Target: You will continue to participate in the Long-Term Incentive Plan (“LTIP”). Your LTIP target for the fiscal year 2023 – 2025 performance period has increased to $1,250,000.


Current TDC
New TDC
Base Salary
$500,000
$550,000
MIP Target
$400,000
$450,000
Target Total Cash
$900,000
$1,000,000
LTIP Target
$600,000
$1,250,000
Target TDC *
$1,500,000
$2,250,000
% Change
+50.0%


All other terms and conditions of your employment remain unchanged. Please do not hesitate to let me know if you have any questions.


Sincerely,
Alessandro Maselli
President & Chief Executive Officer

cc:    Ricardo Pravda
SVP & Chief Human Resources Officer








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