Exhibit 10.1
April 9, 2024
Mr. Nick L. Stanage
c/o Hexcel Corporation
Two Stamford Plaza
281 Tresser Boulevard, 16th Floor
Stamford, Connecticut 06901
Re: Executive Chairman Transition
Dear Nick:
On behalf of Hexcel Corporation (the “Company”) and its Board of Directors (the “Board”), I want to thank you for your many years of service to the Company, during which you have demonstrated remarkable leadership and have made immeasurable contributions to the Company. We appreciate your willingness to provide continued support and expertise to the Company as Executive Chairman of the Board (“Executive Chairman”).
This letter agreement (this “Letter Agreement”) sets forth the terms of your employment as Executive Chairman, effective as of May 1, 2024 (the “Effective Date”). Reference is made to (a) the Company’s Executive Severance Policy, dated August 1, 2013 (the “Executive Severance Policy”); (b) the Offer Letter between you and the Company, dated July 22, 2013, as amended June 1, 2018 (the “Offer Letter”); and (c) the Supplemental Executive Retirement Agreement between you and the Company, dated October 28, 2009, as amended December 31, 2020 and July 26, 2021 (the “Supplemental Executive Retirement Agreement”). Terms that are capitalized but not defined herein shall have the meanings set forth in the Executive Severance Policy.
[Signature Page Follows]
To confirm the foregoing terms are acceptable to you, please execute and return the copy of this Letter Agreement, which is enclosed for your convenience.
Very truly yours,
Hexcel Corporation
By: /s/ Gina Fitzsimons
Name: Gina Fitzsimons
Title: Executive Vice President and
Chief Human Resources Officer
Acknowledged and agreed:
/s/ Nick L. Stanage
Nick L. Stanage