Hillenbrand, Inc. Cash Award and Repayment Agreement with Kristina Cerniglia (August 7, 2014)
Hillenbrand, Inc. agrees to pay Kristina Cerniglia a cash award of $650,000, minus taxes, as an incentive and to compensate for compensation forfeited from her previous employer. If Ms. Cerniglia leaves the company without good reason or is terminated for cause before August 7, 2015, she must repay the full award. If such termination occurs between August 7, 2015, and August 7, 2016, she must repay half the award. Repayment is due within 30 days of her last day of employment.
Exhibit 10.46
Hillenbrand, Inc.
Cash Award and Repayment Agreement
August 7, 2014
Hillenbrand, Inc. (the “Company”) shall pay Kristina Cerniglia (“you”) a cash award equal to $650,000, less applicable taxes (the “Award”), as an inducement to you and in recognition of the forfeiture of outstanding compensation from your previous employer. In the event you terminate employment with the Company without “Good Reason” or you are terminated for “Cause” (as such terms are defined in your employment agreement), you shall repay all or some portion of the Award as follows:
· If such a termination occurs prior to August 7, 2015 (“First Anniversary”), you shall repay to the Company an amount equal to the entire Award; and
· If such a termination occurs after the First Anniversary, but prior to August 7, 2016, you shall repay to the Company an amount equal to 50% of the Award.
You shall make any such repayment to the Company not later than 30 days following your last day of employment with the Company.
|
| HILLENBRAND, INC. | |
|
|
| |
|
|
| |
|
| By: | /S/ Diane R. Bohman |
|
| Name: | Diane R. Bohman |
|
| Title: | Senior Vice President, |
|
|
| Chief Administrative Officer |
| ACCEPTED AND AGREED: |
| |
|
|
| |
|
|
| |
| /S/ Kristina Cerniglia |
| |
| Kristina Cerniglia |
| |
|
|
| |
| Date: | 8/4/14 |
|
