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|Sanjiv Lamba || ||October 29, 2021|
Chief Operating Officer
c/o Linde Inc.
10 Riverview Drive
Danbury, CT 06810
Im pleased to offer you the role of Linde plcs Chief Executive Officer (CEO), effective as of March 1, 2022, with an annual base salary of $1,300,000, contingent upon satisfaction of the conditions described below. This position will report to Linde plcs Board of Directors and will be based at our corporate offices in Danbury, Connecticut.
Below is some important information about the offer:
You will be eligible to participate in the Linde plc Annual Variable Compensation Program which provides for the opportunity to earn an annual award calculated based upon Linde performance. As CEO, your 2022 target annual variable compensation award will be 150% of base salary and any award earned for 2022 will be prorated to reflect the portions of the year that you serve in the CEO and Chief Operating Officer roles. Thereafter, your target annual variable compensation award will be set annually by the Human Capital Committee of the Board.
Long-term Incentive Awards
You will be eligible for Linde plc long-term incentive awards under the long-term incentive plan in effect at the grant date, which are currently made in the form of stock options, performance share units, and restricted stock units. For the CEO position, the target value of $9,750,000 will be granted on or around March 7, 2022. These awards will be subject to the terms and conditions outlined in the plan and your grant agreements and will be subject to any applicable taxes and withholdings. Your target long-term incentive award grants for future years will be set annually by the Human Capital Committee.
As part of our total compensation package, you will be eligible for the standard benefits that Linde provides to U.S. employees of its Linde Inc. subsidiary. These include:
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account-based benefits under the Linde U.S. Pension Plan and Supplemental Retirement Income Plans;