Ultra Clean Holdings, Inc. Promotion and Employment Offer Letter to Sheri Brumm as SVP, Chief Accounting Officer
Ultra Clean Holdings, Inc. offers Sheri Brumm the full-time position of Senior Vice President and Chief Accounting Officer, appointing her as a Section 16 Officer. The agreement outlines an annual base salary of $265,000, eligibility for a management bonus plan with a 40% target payout, and a grant of 15,000 restricted stock units vesting over three years. If her employment is terminated without cause or she resigns for good reason, she is entitled to severance benefits per the company's executive policy, provided she meets its terms.
Exhibit 10.18
February 18, 2016
To: Sheri Brumm
Re: Promotion to SVP, Chief Accounting Officer and Section 16 Officer
Ultra Clean Holdings, Inc. (the “Company” or “UCT”) is pleased to offer you the regular, full time position of SVP, Chief Accounting Officer (CAO). You will be appointed a Section 16 Officer of the UCT Company.
Base Salary. Your annual base rate will be $265,000, payable bi-weekly in accordance with our regular payroll practices and in accordance with all applicable state and federal laws.
Management Bonus. You will be eligible for the management bonus plan which includes an initial target payout of 40% of your base salary on an annualized basis
Restricted Stock Units. You will receive a promotion grant of 15,000 restricted stock units of Ultra Clean Holdings, Inc., with 1/3 of the award vesting upon each anniversary of the date of the grant, subject to the terms and conditions of our Amended and Restated Stock Incentive Plan.
Severance Benefits. In the event your employment is terminated by the Company without Cause or by you for Good Reason, then, subject to your compliance with the terms and conditions of the Company’s Severance Benefits for Executive Officers policy, as amended through the date hereof (the “Severance Policy”), you will be entitled to the severance benefits set forth in the Severance Policy.
Sincerely,
Jim Scholhamer,
CEO
Casey Eichler,
President & CFO
UCT
26462 Corporate Ave., Hayward, CA 94545
Tel: (510) ###-###-#### Fax: (510) ###-###-#### www.uct.com
