Dean Foods Short-Term Incentive Plan Letter Agreement with Tony Brooks (October 2013)
This letter agreement between Dean Foods and Tony Brooks outlines the terms of Tony's participation in the company's Short-Term Incentive (STI) Plan, effective October 15, 2013. Tony is eligible for an annual incentive based on company financial performance and his individual objectives, with a target amount set at 50% of his base salary for most of 2013 and 60% from October 1, 2013 onward. The incentive is calculated using his annualized base salary as of year-end. The agreement is signed by both parties.
Exhibit 10.10
October 15, 2013
Tony Brooks
6477 Memorial Drive
Frisco, TX 75034
Dear Tony:
I am pleased to provide you an updated Short-Term Incentive opportunity for Dean Foods effective October 15, 2013.
Here are the specifics of your opportunity:
Annual Incentive Opportunity
You will continue to be eligible to earn an annual incentive as a participant in the Dean Foods Corporate Short-Term Incentive (STI) Plan. Your target amount is equal to 50% from 1/1/13 – 9/30/13, and 60% from 10/1/13 going forward. The financial component of your STI will be driven by the performance of certain financial targets for Dean Foods and the individual component will be based upon your performance against certain individual objectives. The STI payment will be calculated using your annualized base salary as of 12/31 of the incentive plan year.
Conclusion
Tony, I am very excited about your achievements thus far and look forward to your future contributions to Dean Foods. I am confident that with your experience, skills, vision and standards, you will continue to make significant contributions to our company in the years to come.
| Best regards, |
| /s/ Kim Warmbier |
| Kim Warmbier |
| EVP, Chief HR Officer |
| Agreed and accepted: |
| /s/ Tony Brooks |
| Tony Brooks |
| 10/21/13 |
| Date |
