Addendum to Equity Retention Agreement between Chase Corporation and Kenneth J. Feroldi (August 23, 2017)
Chase Corporation and Kenneth J. Feroldi have agreed to modify Mr. Feroldi's existing Equity Retention Agreement. The change updates the vesting schedule from a single vesting date to five equal annual installments over five years, provided Mr. Feroldi remains employed. The first installment vests on August 31, 2017. No other terms of the agreement are changed. This letter serves as an official addendum to the original agreement.
Exhibit 10.10.8
| | A Leading Manufacturer of Protective
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Phone: (781) 332-0700 |
August 23, 2017
Kenneth J. Feroldi
Dear Ken,
On August 23, 2017, the Compensation Committee met and approved a change to your September 1, 2016 Equity Retention Agreement. The vesting changed from a cliff vesting award to vesting in five equal annual installments over the five-year period following the grant, if continued employment conditions are met. The first annual installment will vest on August 31, 2017. No other changes were made to the agreement.
With this addendum, we will attach this letter to the existing agreement.
Please let us know if you have any questions.
Sincerely,
| /s/ Thomas Wroe, Jr. |
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| Thomas Wroe, Jr. |
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| Chairman of the Compensation Committee |
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