Amended Schedule A to Employment Agreement for Roderick Baty – NN, Inc.

Contract Categories: Human Resources › Employment Agreements
Summary

NN, Inc. has amended the severance terms in the employment agreement of executive officer Roderick Baty. If his employment is terminated, he will receive a lump sum severance payment equal to 2.5 times his base salary at the time of termination, plus 2 times his median bonus based on a 60% target bonus percentage. All other terms of his employment agreement remain unchanged.

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EX-10.1 3 nnex10_18k031810.htm NN EX 10.1 8-K 03-18-10 nnex10_18k031810.htm
EXHIBIT 10.1
 
 
NN, Inc. has amended Schedule A to the Employment Agreement (the "Employment Agreement") of the following executive officer:
 
Roderick Baty
 
The text of the Amended Schedule A is attached hereto and incorporated by reference herein.  All other terms and conditions of the Employment Agreement remain unchanged.
 
 
 
Amended Schedule A
 
 
    Executive's Severance Payment shall be a lump sum payment equal to:
 
 
    1.    2.5 times Executive's base salary (as of the date of Executive's termination); plus
 
    2.    2.0 times Executive's median bonus available at the following bonus target percentage:
       60%.