Verso Corporation Retention Bonus Agreement with Kenny Sawyer
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Retention Agreements
Summary
Verso Corporation agrees to pay Kenny Sawyer a retention bonus of $275,000, less taxes, on June 30, 2020, provided he remains employed with the company through that date. Kenny must sign and return the agreement by December 16, 2019, to accept the bonus. This agreement outlines the conditions for receiving the bonus and confirms both parties' understanding and acceptance.
EX-10.1 2 exhibit1016302020.htm EXHIBIT 10.1 Exhibit
EXHIBIT 10.1
 | Verso Corporation Corporate Headquarters 8540 Gander Creek Drive Miamisburg, OH 45342 Name of sender Adam St John T ###-###-#### E ***@*** W www.versoco.com |
December 12, 2019
Kenny Sawyer
9864 Summit Point Drive
Miamisburg, OH 45342
Dear Kenny:
We are pleased with all of your hard work and your continued commitment to Verso.
Verso is rewarding you with a retention bonus of $275,000.00. This amount, less withholding taxes, will be paid out on June 30, 2020. This bonus payment is contingent upon your continued employment with Verso through June 30, 2020.
To confirm your acceptance of this retention bonus, please sign the original copy of this letter and return it to me by 12/16/2019.
Sincerely,
/s/ Adam St. John
Adam St. John
Chief Executive Officer
*****************************************************************
ACCEPTED BY:
/s/Kenny Sawyer ___________
Kenny Sawyer
December 13, 2019 ___________
Date
