Stepan Company Retention Bonus and Equity Grant Agreement with Robert J. Haire, Jr.
Stepan Company has agreed to pay Robert J. Haire, Jr. two retention bonuses of $150,000 each if he remains employed through December 31, 2025, and December 31, 2026, respectively. If his employment ends before these dates, he may forfeit the bonuses, except in cases of termination without cause, death, or disability, where he may receive a prorated or full payment. He will also receive a restricted stock unit grant valued at $300,000. The agreement outlines payment timing, tax withholding, and states it is the full agreement between the parties.
Exhibit 10.44
December 11, 2024
Dear Rob:
Stepan Company, a Delaware corporation (the “Company”) has awarded you the opportunity to earn two bonuses each in an amount equal to $150,000 (each a “Retention Bonus” and, together, the “Retention Bonuses”) on the terms and conditions set forth below.
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Please be aware that this letter agreement does not constitute an offer or guarantee of employment or continued employment with the Company or any of its subsidiaries or affiliates. Please indicate your agreement to the terms set forth herein by executing this letter agreement in the space provided below.
Very truly yours,
STEPAN COMPANY
By: _/s/ Luis E. Rojo_____________________
Name: Luis E. Rojo
Title: President & CEO
Accepted and Agreed:
By: /s/ Robert J. Haire, Jr.
Robert J. Haire, Jr.
Date Accepted: 1/21/2025
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