Exhibit 99.1
Eugene Padgett Compensation Package
1. | Base Salary: $335,000 per year |
2. | Participation in Valmont's 2023 Annual Incentive Plan - Corporate Plan with a target of 50% of base salary and capped at 2x bonus target. |
3. | Participation in the PSU Plan of Valmont's 2022-2024 (prorated from start date - 2/3rds). |
4.Participation in the remaining long term incentive plans, effective January 2023 (PSU 50%, RSU 25%, Stock Options 25% of total target value equals 80% of base salary).
5.Participation in Valmont's non-qualified deferred compensation plan, VERSP 401(k) plan, health and welfare benefit plans.
6. | New Hire Equity Grant for Equity Replacement: |
a. | Award of approximately $25,000 (approximately 90 RSUs) in restricted unit shares as of the start date, with three-year tiered vesting (1/3 per year) using the standard Valmont agreement form. |
7. | 2022 Cash Compensation Provisions |
a. | Sign-on Bonus of $75,000 for equity and bonus payout by previous employer. |
8. | Stock ownership guideline of 1.5x of Base Salary. |
9. | Full relocation package. |