Letter to Brian Deck, dated June 24, 2020, regarding change in compensation
John Bean Technologies Corporation
70 West Madison, Suite 4400
Chicago, IL 60602 USA
Phone: 312 ###-###-####
June 24, 2020
Mr. Brian A. Deck
Re: Change in Compensation
The purpose of this letter is to address your compensation while serving as Interim Chief Executive Officer.
Effective June 23, 2020, your bi-weekly salary will be based on an annual rate of $820,000, to continue for the period you serve in the role of Interim Chief Executive Officer.
Your target percentage for the annual MIP incentive will remain at 75%. However, the Board will take into account your performance and the length of time you serve in this role when determining your 2020 MIP payout in February of 2021. The Board will also factor in these considerations when determining your February 2021 LTIP award. All of the other terms of your employment and compensation remain in effect in accordance with their terms.
The Board thanks you for your leadership by example, and we look forward to working together with you to continue managing the business and executing on our strategic priorities.
/s/ Alan D. Feldman
Alan D. Feldman
Interim Non-Executive Chairman