Ichor Systems, Inc. Offer Letter for Chief Financial Officer Position with Greg Swyt

Summary

Ichor Systems, Inc. offers Greg Swyt the position of Chief Financial Officer, starting July 17, 2023, with a base salary of $420,000 per year. The offer includes a 70% target bonus, a restricted stock unit (RSU) grant valued at $1,200,000 vesting over four years, and eligibility for severance under the company's Select Severance Plan. Greg will report to the CEO and become a Section 16 officer. The letter confirms that these terms override any previous agreements regarding his employment.

EX-10.1 2 ex-101_offerletter.htm OFFER LETTER Document

Exhibit 10.1

July 5, 2023

Mr. Greg Swyt

Via Email: █████████████████████

Dear Greg,

I am pleased to offer you the position of Chief Financial Officer (CFO) with Ichor Systems, Inc. Should you accept our offer, your home office will be in Tualatin, OR, reporting directly to the CEO. The purpose of this letter is to confirm with you the specifics of your offer, consistent with the terms below.

Start Date

Your tentative date of hire is July 17, 2023.

Base Pay

Your annualized base salary is $420,000 per year.

Work Classification

You will become a Section 16 officer of Ichor.

Incentive Bonus Plan

Your new target bonus is 70%.

Equity Incentive

You are approved for a RSU grant valued at $1,200,000. The RSU grant date and value is the first of the month, following your start date in this new position. The vesting schedule is 25% on year one, then quarterly thereafter, and fully vested in four years. You will be provided a grant agreement within a month of your grant date, under separate cover.

Benefits

There will be no change to your benefits.

Severance

You will be eligible for severance as outlined in the Ichor Holdings, Ltd. Select Severance Plan.

Greg, we are happy to have you join the executive staff and welcome you as our new CFO. We trust this letter finds you mutually excited about your new opportunity with us!

Sincerely,

/s/ Diana Finucane

Diana Finucane

Chief Human Resources Officer

ACKNOWLEDGEMENT

I, the undersigned, understand and agree to the terms and conditions of employment set forth in this letter. I understand and agree that the terms of this letter supersede any and all prior or contemporaneous agreements and/or promises concerning the terms of my employment and that there are no other promises, expressed or implied, concerning the terms of my employment with Ichor Systems, Inc., other than those expressly set forth or reference herein.


/s/ Gregory F. Swyt						July 6, 2023
Greg Swyt						Date