To mitigate the impacts of COVID-19 on Invacare Corporation, by letter agreement between you and Invacare dated March 27, 2020 (the “Prior Letter”), you, along with the other named executive officers of Invacare, had agreed to voluntarily defer...Compensation Adjustment Agreement • May 6th, 2020 • Invacare Corp • Orthopedic, prosthetic & surgical appliances & supplies
The deferrals of (i) 20% of your April 2020 base salary, (ii) payment of your 2019 bonus and (iii) the adjustment of your 2020 base salary are expected to be in effect until at least October 1, 2020, at which time Invacare will determine whether it is reasonable to pay such deferred amounts. Consistent with Invacare’s executive compensation practices, annual salary adjustments, if any, would be effective as of January 1. Notwithstanding the compensation adjustments described in this letter, to the extent that any other elements of executive compensation, such as annual cash bonus or equity awards, are determined based in part on reference to your 2020 base salary rate, the rate to be used for purposes of such determination will be your base salary rate as if the salary reductions and deferrals described herein had not occurred and as if your 2020 base salary adjustment had been made effective on January 1, 2020.
