Amendment to Employment Contract for Senior Vice President & Chief Commercial Officer – Trinseo Europe GmbH and André Lanning
Trinseo Europe GmbH, a subsidiary of Trinseo PLC, offers André Lanning the position of Senior Vice President & Chief Commercial Officer in Switzerland, effective March 1, 2022. The agreement amends his previous employment contract dated October 1, 2021, updating his title, responsibilities, and compensation, which includes a base salary, target bonus, and long-term incentives. All other terms remain unchanged. The bonus and incentive plans are discretionary and subject to Trinseo PLC’s Board approval. Acceptance is confirmed by André Lanning’s signature and date.
| Trinseo PLC 76 Sir John Rogerson’s Quay Dublin 2 D02 FX51, Ireland |
16 February 2022
Dear André,
We are pleased to confirm our offer for the position of Senior Vice President & Chief Commercial Officer with Trinseo Europe GmbH based in Switzerland, with effect of 1 March 2022. A summary of the proposed target compensation follows:
Compensation Items | In CHF |
Annual Base Salary | 480,000 |
Target Bonus % / Amount | 60% / 288,000 |
Target Total Cash Compensation | 768,000 |
Target LTI % / Amount | 140%1 / 672,000 |
Target Total Direct Compensation | 1,440,000 |
This position and title change along with corresponding adjustments in compensation and responsibilities is an amendment to the terms and conditions set forth in your Employment Contract dated 1 October 2021. All other terms and conditions are deemed to be unchanged.
Please note that the Target Bonus is part of Trinseo’s Performance Award (PA) Plan and the Target LTI is part of the Long-Term Incentive Plan; both of which are provided by Trinseo PLC and are at the discretion of its Board of Directors.
Please return your acceptance at your earliest convenience and we wish you continued success in your new position.
Best regards,
/s/ Frank Bozich
Frank Bozich
President and Chief Executive Officer
Trinseo PLC
I have read this letter, understand it and agree to the terms set forth above:
Date: February 17, 2022 | Signature:/s/ André Lanning André Lanning |
1 Effective for the February 2022 LTI grant.
