Nine-Year Long-Term Incentive Program Agreement with Shirley Rozeboom

Summary

This agreement outlines a nine-year retention incentive program between Hawken (the Company) and Shirley Rozeboom, SVP of Sales and Marketing. Under the program, Ms. Rozeboom is eligible to receive a $500,000 lump sum payment upon reaching her 63rd birthday, provided she remains employed in good standing at that time. If her employment ends due to death, disability, or termination without cause, the payment will be pro-rated. The payment is subject to applicable taxes, and any overpayments must be repaid. The agreement does not guarantee continued employment.

EX-10.7 3 hwkn10k2021exhibit107.htm EX-10.7 Document

Exhibit 10.7

Nine Year LTI with Shirley Rozeboom

I. ELIGIBILITY:

Shirley Rozeboom, SVP Sales and Marketing

II. PROGRAM EFFECTIVE DATE:

September 2016

III. INDIVIDUAL COMPENSATION DESIGN SUMMARY

Shirley Rozeboom Compensation

9 Year Retention Program: $500,000

IV. PAYOUT OPPORTUNITY FOR LTIP:

$500,000 lump sum payment upon reaching 63rd birthday

•Cash payment at end of nine year period (must be employed at end of period)

•Payout based on your employment in good standing on your 63rd birthday

V. MISCELLANEOUS:

•In the case of death/disability or termination without cause the cash payment will be pro-rated through the last day worked.

•Payments will be treated as income for tax purposes and will be subject to supplemental, federal, state and local tax withholding requirements.

•In the event that the Company makes an overpayment to a participant in excess of the amount to which the participant is entitled, these payments will be considered overpayments and must be paid back to the Company.

•Nothing in the noted guidelines shall be construed to confer upon any employee the right to continue in the employ of the Company or affect the right of the Company to terminate his/her employment at any time.