August 18, 2021
I am pleased to offer you this promotion to the EVP, Chief Strategy Officer and MD, Global Specialty Businesses.
and our plan and execution for digitization by leading our Information Technology
tentative start date for this position is September 9, 2021.
We believe you can
make significant contributions in this role and will
find this opportunity engaging and rewarding.
Please review the details of the offer below.
reflective of performance year 2021.
will continue to participate in our 2021 Annual Incentive Plan (AIP), with an annual bonus target of 65% of your base salary.
is inclusive of the full 2021 annual performance for your responsibility areas
and based on your revised base salary.
will be eligible to participate in our Long
Term Incentive Plan (LTIP)
at a target value of 100% of your
For the 2021
$230,000 in October 2021 to reflect the difference from the grant provided
in March of 2021.
The Restricted Stock grant is time based
and will vest in accordance with the LTIP
The terms and
conditions of your
employment remain in
as specifically set
Quaker Houghton reserves
right to modify your job title, duties and compensation, as well as all company
rules, practices and other terms of employment.
excited about this opportunity for
you Joe and look forward
to you accepting this expanded role
with Quaker Houghton.
your review of this offer,
please sign below to confirm your acceptance and return to me with a copy to Rob Traub
and Kym Johnson.
/s/ Michael F. Barry
CEO, President and Chairman of the Board
Quaker Chemical Corporation
A Quaker Houghton Company
901 E. Hector Street
Conshohocken, PA ###-###-####
T: 610 ###-###-####