Attached files
file | filename |
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EX-31.1 - EXHIBIT 31.1 - GENERAC HOLDINGS INC. | ex31-1.htm |
EX-32.2 - EXHIBIT 32.2 - GENERAC HOLDINGS INC. | ex32-2.htm |
EX-10.1 - EXHIBIT 10.1 - GENERAC HOLDINGS INC. | ex10-1.htm |
EX-31.2 - EXHIBIT 31.2 - GENERAC HOLDINGS INC. | ex31-2.htm |
EX-32.1 - EXHIBIT 32.1 - GENERAC HOLDINGS INC. | ex32-1.htm |
10-Q - FORM 10-Q - GENERAC HOLDINGS INC. | gnrc20150930_10q.htm |
Exhibit 10.2
Summary of Employment Arrangement with Patrick Forsythe, Executive Vice President – Global Engineering
1. |
Term – Employment at will, beginning July 2, 2015 |
2. |
Compensation - $350,000 annually. Salary is eligible for review in 2016 in accordance with Generac’s normal policies. |
3. |
Executive Management Incentive Program (EMIP). Employee is eligible to participate in the EMIP with target bonus of 50% of salary opportunity to earn up to 125% of base salary annually. Guaranteed 1 times salary bonus for 2015. |
4. |
Long-Term Incentive Compensation (LTIP). Employee is eligible to participate in Generac’s LTIP program. |
5. |
Sign On Equity Grant. Employee received 17,634 shares of common stock and 41,786 options to purchase common stock at a purchase price of $28.355 per share as a sign-on bonus. All shares and options are subject to the Company’s Equity Incentive Plan. |
6. |
Benefits. Employee is eligible for the Generac benefits plan on the same terms as other employees. |
7. |
Vacation. Vacation accrues at a rate of three weeks/year through year 9. |
Thereafter,
Years of Service |
Weeks of vacation |
10-24 |
4 |
25-29 |
5 |
30+ |
6 |
|
8. |
Relocation bonus of $25,000 |