T +1 212 345 5000
Xxxx X. Xxxxx
President and Chief Executive Officer
Xxxxx XxXxxxxx
0000 Xxxxxx xx xxx Xxxxxxxx
New York, NY 10036
T x0 000 000 0000
xxx.xxx.xxx
February 22, 2024
Xxxx Xxxxxxx
Hand Delivery
Subject: Terms of Employment
Dear Xxxx,
This first amendment to the Letter Agreement, dated December 1, 2021, between you and Xxxxx & XxXxxxxx Companies, Inc. (the “Letter Agreement”), revises the terms and conditions of your employment as President and Chief Executive Officer of Xxx Xxxxxxxxx & Company LLC (“Xxx Xxxxxxxxx”) and Vice Chair, Xxxxx XxXxxxxx. The Letter Agreement will continue to govern your employment except as specified below:
1.This position reports to the President and Chief Executive Officer of Xxxxx & XxXxxxxx Companies, Inc. (“Xxxxx XxXxxxxx”).
2.Exhibit A to the Letter Agreement shall be deleted and replaced in its entirety with the attached Exhibit A.
The terms of this amendment are effective as of February 22, 2024. Please acknowledge your agreement with the terms of the Letter Agreement, as further amended by this third amendment, by signing and dating this and the enclosed copy and returning one to me.
Sincerely,
/s/ Xxxx X. Xxxxx
Xxxx X. Xxxxx
President and Chief Executive Officer
Xxxxx XxXxxxxx
Accepted and Agreed:
/s/ Xxxx Xxxxxxx_________________
(Signature)
April 2, 2024____________________
(Date)
 | ||
Page 2
February 22, 2024
Xxxx Xxxxxxx
Exhibit A
Board or Committee Memberships | None | ||||
Annual Base Salary | $800,000 effective as of January 1, 2022. | ||||
Annual Target Bonus Opportunity | Bonus awards are discretionary. Target bonus of $1,900,000 commencing with the 2024 performance year (awarded in February 2025). Actual bonus may range from 0% - 200% of target, based on achievement of individual performance objectives, Xxx Xxxxxxxxx’x performance and/or Xxxxx XxXxxxxx’x performance as Xxxxx XxXxxxxx may establish from time to xxx | ||||
Annual Target Long-Term Incentive Opportunity | Long-term incentive awards are discretionary. Target grant date fair value of $1,800,000, commencing with the award made in 2024 | ||||
