Exhibit 10.5
CHANGE IN CONTROL AGREEMENT
This Change in Control Agreement is dated as of December 6, 2023, between Methode Electronics, Inc., a Delaware corporation (the “Company”), and Kerry A. Vyverberg (“Employee”).
WITNESSETH:
WHEREAS, Employee is employed by the Company or one of its subsidiaries or affiliates (referred to collectively as the “Company”) and the Company desires to provide certain security to Employee in connection with any potential change in control of the Company; and
WHEREAS, Employee and the Company are party to a certain Change in Control Agreement dated as of March 16, 2022 (such agreement, together with any amendments thereto, the “Prior Change of Control Agreement”); and
WHEREAS, the Compensation Committee of the Board of Directors of the Company has approved certain changes to the benefits afforded Employee under the Prior Change of Control Agreement.
NOW, THEREFORE, it is hereby agreed by and between the parties, for good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, as follows:
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year first written above.
METHODE ELECTRONICS, INC.
By: /s/ Bruce K. Crowther
Bruce K. Crowther, Compensation Committee Chair
EMPLOYEE:
/s/ Kerry A Vyverberg
Name: Kerry A. Vyverberg
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