ACKNOWLEDGMENT AND AGREEMENT
Exhibit 10.1
This ACKNOWLEDGMENT AND AGREEMENT, effective as of March 1, 2024, is between Xxxxxxxxx X. Xxxxxxx (“Employee”) and Grosvenor Capital Management, L.P., an Illinois limited partnership (“Employer”).
WHEREAS, Employee and Employer are parties to that certain Second Amended and Restated Employment and Protective Covenants Agreement, effective as of May 9, 2023, pursuant to which Employee currently is employed by Employer (as amended, the “Employment Agreement”); and
WHEREAS, pursuant to §5 of the Employment Agreement, Employee shall be entitled to receive Total Cash Compensation for the Bonus Period in respect of Calendar Year 2023 in an amount equal to $4,500,000; and
WHEREAS, Employer has granted Employee, as of March 1, 2024, 103,030 restricted stock units issued in connection with the GCM Grosvenor Inc. (“GCMG”) long-term incentive plan that vest on August 15, 2024 and will settle in shares of Class A common stock of GCMG (or, at the election of GCMG, in cash) (the “2024 RSU Grant”) on or about August 15, 2024 (the “Delivery Date”); and
NOW, THEREFORE, Employee and Employer acknowledge and agree that the 2024 RSU Grant shall reduce the Total Cash Compensation for the Bonus Period in respect of Calendar Year 2023 by an amount equal to $850,000.
All capitalized terms shall have the meaning set forth in the Employment Agreement, unless otherwise indicated.
Except as specifically amended or modified by this Acknowledgement and Agreement, the Employment Agreement shall remain in full force and effect according to its terms.
EMPLOYER
Grosvenor Capital Management, L.P.
By:_/s/ Xxxxx X. Xxxxxxxxxx
Xxxxx X. Xxxxxxxxxx
Xxxxx X. Xxxxxxxxxx
EMPLOYEE
/s/ Xxxxxxxxx X. Xxxxxxx
Xxxxxxxxx X. Xxxxxxx
Xxxxxxxxx X. Xxxxxxx
