Confirmation of Promotion and Compensation Terms for Barry Bruno as Executive Vice President, Chief Marketing Officer
This letter confirms the promotion of Barry Bruno to Executive Vice President, Chief Marketing Officer at Church & Dwight Co., Inc., effective October 1, 2021. The agreement outlines his new base salary of $475,000, a bonus target of 50% of base salary, and a stock option grant valued at $150,000, with future grants starting June 2022. The total target compensation and remuneration are specified, along with the percentage increases from his previous role. The letter serves as formal notification of the promotion and associated compensation changes.
EXHIBIT 10.21
September 4, 2021
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| To: | Barry Bruno |
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| From: | Matthew Farrell |
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| CC: | Rene Hemsey |
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Confirmation of Promotion effective dated 10/01/2021
Congratulations!
I am thrilled to offer you the position of Executive Vice President, Chief Marketing Officer as of October 1, 2021.
Base Salary - $475,000
Bonus Target – 50%
Bonus Target $ $237,500
Total Compensation at Target - $712,500
Stock Option Target – 115%
Stock Option Target $* $546,250
Total Remuneration at Target - $1,258,750
Salary Grade - US Grade Elected Officer
You will receive a stock option grant on October 1, 2021 in the amount of $150,000*. Thereafter, grants will occur beginning in June 2022.
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| Current | New | $ Change | % Change |
| Base Salary | $453,000 | $475,000 | $22,000 | 5% |
| Bonus Target % Bonus Target $ | 50% $226,500 | 50% $237,500 |
$11,000 |
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| Total Compensation at Target | $679,500 | $712,500 | $33,000 | 5% |
| Stock Option Target % Stock Option Plan $* | 93% $421,290 | 115% $546,250 |
124,960 |
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| Total Remuneration at Target | $1,100,790 | $1,258,750 | $157,960 | 14% |
I look forward to seeing the continued impact you will have on our business.
Sincerely,
Matthew Farrell
*Stock Option grant amounts represent the grant date fair value of the award.
