You will be eligible to participate in the TriMas 2021 Short Term Incentive Plan (“STI”) under the Corporate Staff determination on TriMas consolidated results. Your Target Incentive Award for the 2021 Plan Year will be 65% of your base salary that is in effect as of December 31, 2021. The 2021 STI will be earned based upon the following financial measures:
•70% of your Target Incentive Award will be based upon TriMas’ achievement of consolidated Operating Income as compared to budget.
•30% of your Target Incentive Award will be based upon TriMas’ achievement of consolidated Free Cash Flow Generation as compared to budget.
Your first year STI award will be prorated for time worked, however, assuming a start date of not later than May 15, 2021, your 2021 award will not be below $100,000.