Ingevity Retention Incentive Award Letter to Rich White (January 2025)

Contract Categories: Human Resources › Retention Agreements
Summary

Ingevity Corporation is granting Rich White a one-time cash incentive award of $350,000 under its 2016 Omnibus Incentive Plan. This award recognizes his key role in supporting the transition to a new CEO and will vest 15 months after the grant date, unless earlier vesting conditions apply. The award is intended to encourage his continued leadership during this period of executive transition. Details and acceptance instructions will be provided through E*TRADE, the plan administrator.

Read More Arrow
EX-10.77 7 ex10772025retentionincenti.htm EX-10.77 Document
Exhibit 10.77
January 1, 2025

Rich White
[Address]


Dear Rich,

Ingevity remains committed to fostering excellence and ensuring our collective success. As we proceed with the CEO transition, your leadership is crucial to enabling us to maintain our upward trajectory.

With this in mind, it is my pleasure to share the details of your Incentive Compensation Award granted under Ingevity’s 2016 Omnibus Incentive Plan. This grant is intended to be a one-time award designed to acknowledge Ingevity’s commitment to you and your critical role in supporting the onboarding and success of Luis Fernandez-Moreno as Interim President and CEO, as well as our future permanent President and CEO.

Expect an email from E*TRADE, our plan administrator, in the near future containing specific instructions for reviewing and accepting your award. Additionally, you'll find comprehensive documents on the E*TRADE website addressing essential details about the mechanics of your Incentive Compensation Award.

Specifically, your Incentive Compensation Award granted in 2025 is a cash award equal to: $350,000.

The Incentive Compensation Award was approved January 1, 2025, and will vest on the 15-month anniversary of the grant date, subject to earlier vesting as described in the Terms & Conditions on the E*TRADE website.

As Ingevity moves forward, this leadership transition provides an opportunity to further our long-term goals and continue to seize the benefits of our recent repositioning activity, accelerate sustainable, profitable growth and deliver long-term, mission-driven value for our shareholders, customers and employees. With your leadership and ongoing contributions, we are confident Ingevity is well positioned to achieve our mission of purifying, protecting and enhancing the world around us, today and well into the future.


Best regards,

/s/ Jean Blackwell

Jean Blackwell
Chair of the Board of Directors