GENERAL CABLE CORPORATION
EX-10.1 2 bgc-20160401_exhibit101.htm EXHIBIT 10.1 Exhibit
Exhibit 10.1
GENERAL CABLE CORPORATION
January 7, 2015
Emerson Moser
Via Hand Delivery
RE: Promotion to SVP, General Counsel and Corporate Secretary
Dear Emerson,
It is with great pleasure that I present you the terms for your promotion to SVP, General Counsel and Corporate Secretary. In this capacity you would be a member of the General Cable Operating Committee and would report directly to me.
Following are the principle terms of this position:
Title: | Senior Vice President, General Counsel and Corporate Secretary |
Location: | Highland Heights, KY |
Effective Date: | January 12, 2015 |
Reports to: | President and Chief Executive Officer, General Cable Corporation |
Base Salary: | Annual base salary of $325,000 (USD), paid in bi-weekly installments and subject to deductions for taxes and other withholdings as required by law or the policies of the Company. |
Annual Incentive Awards: | You will be eligible to participate in the Global Annual Incentive Plan (GAIP) design for all members of the Operating Committee with a target of $225,000 (USD). Overall performance measurements will consist of 80% Financial (65% EBITDA and 15% CCC in Days) and 20% Strategic, and will be allocated based on your Corporate Role. |
Long-Term Incentive Awards: | You will be eligible for Long-Term Incentive (LTI) awards under the Company’s 2005 Stock Incentive Plan with an annual target value of $550,000. Key features of the plan design are currently being reviewed and in discussion with Compensation Committee, and will be confirmed no later than Feb. 2015. |
Executive Severance: | You will be eligible for the Executive Severance Plan, which includes; 18 months’ pay for involuntary termination, plus 1.5 target bonus, plus prorated bonus. Included is a Change in Control provision of 24 months’ pay, 2 times target bonus and an annual prorated bonus. In addition, you will receive medical coverage continuation and outplacement services. |
Sincerely,
/s/ Greg Kenny
Greg Kenny
President and Chief Executive Officer
General Cable Corporation
