PLATFORM ACQUISITION HOLDINGS LIMITED Nemours Chambers Road Town Tortola British Virgin Islands
Exhibit 10.16
PLATFORM ACQUISITION HOLDINGS LIMITED
Nemours Xxxxxxxx
Road Town
Tortola
British Virgin Islands
October 29, 2013
Xxxxxx Xxxxxx
c/o MacDermid, Incorporated
0000 Xxxxx Xxxxxx
Xxxxxx, XX 00000
Dear Xxx,
Reference is made to (i) the Business Combination Agreement and Plan of Merger (the “Business Combination Agreement”), dated as of October 10, 2013, by and among Platform Acquisition Holdings Limited (“XXXX”), Platform Delaware Holdings, Inc., Platform Merger Sub, LLC, MacDermid Holdings, LLC, Tartan Holdings, LLC, MacDermid, Incorporated (“MacDermid”), and CSC Shareholder Services LLC; and (ii) the MacDermid, Incorporated Supplemental Executive Retirement Plan, effective April 1, 1994, as amended on February 25, 2005, as further amended on July 11, 2013 ( the “SERP”).
By your signature below, you hereby acknowledge and agree that, if the transactions contemplated by the Business Combination Agreement are consummated, then:
In the event that you decide to voluntarily terminate your employment relationship with MacDermid on or prior to the five year anniversary of the Closing Date (as defined in the Business Combination Agreement) you will forfeit and shall be deemed to have released all right, title and interest in, any and all amounts due and owing to you under the SERP. In the event that the Board of Platform decides it needs to terminate you for whatever reason in the future it will be free to do so, and you will receive your SERP and severance as per your existing severance agreement.
Sincerely, | ||
PLATFORM ACQUISITION HOLDINGS LIMITED | ||
By: | /s/ Xxxxxx X. Xxxxxxxx | |
Xxxxxx X. Xxxxxxxx, Director |
Acknowledged and Agreed: |
/s/ Xxxxxx X. Xxxxxx |
Xxxxxx X. Xxxxxx |
[Xxxxxx SERP Letter]