Amendment to Offer Letter Between Methode Electronics, Inc. and Jonathan DeGaynor Dated January 21, 2025
Methode Electronics, Inc. and Jonathan DeGaynor have agreed to amend the terms of DeGaynor's original offer letter dated June 24, 2024. The amendment clarifies that temporary housing will be provided for up to twelve months, and any payments for this housing will be increased to cover applicable income and employment taxes. All other terms of the original offer letter remain unchanged. Both parties have signed to acknowledge and accept the amendment.
Exhibit 10.1
Methode Electronics, Inc.
8750 West Bryn Mawr Avenue, Suite 1000
Chicago, Illinois 60131
January 21, 2025
Dear Jon:
By this letter (this “Offer Letter Amendment”), we agree to amend certain terms of your Offer Letter dated as of June 24, 2024 (the “Offer Letter”) as follows.
The first sentence in the Offer Letter next to the heading “Relocation and Personal Travel” (which now reads “Temporary housing will be covered for a period of up to twelve (12) months.”) is deleted and replaced with the following sentence:
Temporary housing will be covered for a period of up to twelve (12) months, and any amounts paid to you for such temporary housing shall be grossed up for applicable income and employment taxes.
Except as modified by this Offer Letter Amendment, the Offer Letter shall remain in full force and effect.
Please sign, date and return a copy of this Offer Letter Amendment to Ms. Andrea Barry at the Company, and retain a copy for your records.
Sincerely,
METHODE ELECTRONICS, INC.
By: /s/ Bruce Crowther
Bruce Crowther
Chair of the Compensation Committee
ACKNOWLEDGMENT AND AGREEMENT
I have read and agree to the above terms and conditions.
/s/ Jonathan DeGaynor January 21, 2025
Jonathan DeGaynor Date
