Sears Holdings Corporation Compensation Adjustment Letter to Robert A. Riecker

Contract Categories: Human Resources › Compensation Agreements
Summary

Sears Holdings Corporation sent this letter to Robert A. Riecker, Vice President, Controller, and Chief Accounting Officer, outlining changes to his compensation effective June 1, 2016. Subject to Compensation Committee approval, his annual base salary increases to $500,000, his annual incentive opportunity rises to 75% of base salary, and his participation in the Long Term Incentive Program increases to 100% of base salary. The letter requires Mr. Riecker's acknowledgment and acceptance by signature.

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EX-10.14 11 shldex1014q12017.htm LETTER FROM REGISTRANT TO ROBERT A. RIECKER Exhibit
EXHIBIT 10.14


[LETTERHEAD OF SEARS HOLDINGS CORPORATION]



August 15, 2016

Robert A. Riecker
Vice President, Controller and Chief Accounting Officer


Dear Rob,

In recognition of your past and future contributions to the Company, and as a critical member of the Finance Business Unit, subject to the approval of the Compensation Committee (“Compensation Committee”) of SHC’s Board of Directors, we are pleased to provide you with the following changes to your compensation. Effective June 1, 2016, the key elements to your compensation will be:

•
Annual base salary will increase to $500,000;

•
Annual incentive opportunity under SHC’s Annual Incentive Plan will increase to 75% of your base salary;

•
Participation under SHC’s Long Term Incentive Program will increase to 100% of your base salary.
To acknowledge and accept these changes, please sign and date below and return this letter to your manager.



Accepted:
 
 
 
 
 
 
 
/s/ Robert A. Riecker
 
8/7/2016
 
Robert A. Riecker
 
Date
 
 
 
 
 
 
 
 
 
Business Unit Leader:
 
 
 
 
 
 
 
/s/ Robert A. Schriesheim
 
8/17/2016
 
Robert A. Schriesheim
 
Date