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Anshooman Aga August 3, 2022 Page 2 | |  |
You may be eligible for future equity awards, in accordance with the terms of Vontier Corporation 2020 Stock Incentive program, at a target award value commensurate with your level. This does not guarantee awards will be granted in the future at this or different amount. Your participation and the specific terms of your participation in the Vontier Corporation 2020 Stock Incentive Plan will be determined in the sole discretion of the Compensation and Management Development Committee of the Board of Directors.
Special One Time Equity Award: A recommendation will be made to the Board or the Compensation Committee or their designee (as applicable) of Vontier to grant you a one-time special equity award with a target value of $1,500,000. The grant will be made during the next scheduled quarterly grant when such grants are made. This grant will be made in the form of RSUs with two-year ratable vesting.
Benefits: You will be eligible to participate in any employee benefit plans that Vontier has adopted or may adopt, maintain, or contribute to for the benefit of its regular exempt employees generally, subject to satisfying any applicable eligibility requirements. You will be eligible to participate in the Vontier 401(k) retirement plan subject to the applicable plan documents.
Other Compensation Elements: Starting in 2022, you will be eligible for an annual cash stipend of $10,000 per year to be applied for financial services and counseling.
Relocation: The Company is pleased to provide relocation benefits through a third-party relocation services company. Once you have communicated to the Company that you have signed and returned both this offer letter and the enclosed Relocation Repayment Agreement, the relocation services representative will contact you to explain the services, assistance and benefits provided under the Relocation Policy for Vontier and its Affiliates, coordinate your relocation coverage and answer any questions you may have.
Vacation: You will be eligible for four (4) weeks of vacation annually, pro-rated based off your start date. Your vacation allotment will accrue per pay period. In all other respects, your vacation benefits will be subject to Vontier’s policy as it may be amended from time to time.
Floating Holidays: In addition to the Vontier paid holidays, you will be eligible for three (3) floating holidays annually pursuant to the Vontier holiday policy, as it may be amended from time to time. Your initial floating holidays will be prorated based on the quarter in which you join Vontier.
EDIP Program: You will be eligible to participate in the Executive Deferred Incentive Program (“EDIP”), an exclusive, non-qualified executive benefit designed to supplement retirement benefits that otherwise are limited by IRS regulations; and provide the opportunity for you to defer taxation on a portion of your current income (base salary or bonus or both). You will be provided additional details prior to your first eligibility to participate in the program.
At-Will Employment: Nothing in this offer letter shall be construed as any agreement, express or implied, to employ you for any stated term. Your employment with the Company will be on an at-will basis, which means that either you or the Company can terminate the employment relationship at any time and for any reason (or no reason), with or without notice.
Conditions of Employment Offer: This offer of employment is expressly conditioned on your being legally authorized to work in the U.S. and your execution and return of the following documents no later than the date stated in the acknowledgment section below:
