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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Vectrus Inc | NYSE:VEC | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 32.84 | 0 | 01:00:00 |
Indiana
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0001-36341
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38-3924636
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(State or other jurisdiction of incorporation or organization)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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1.
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Compensation and Benefits.
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a.
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Annual Base Salary. Mr. Moline’s initial base salary was $270,000.
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b.
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Cash Sign-on Payment. Mr. Moline was paid a cash sign-on payment of $200,000 in December 2015, subject to repayment (net of taxes) if Mr. Moline voluntarily terminates his employment within two years from the date of payment.
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c.
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2016 Target Annual Incentive. Mr. Moline is eligible to participate in the Company’s Annual Incentive Plan with a target award of 40% of his annual base salary, starting in 2016.
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d.
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Discretionary Bonus for 2015. Mr. Moline was eligible for a discretionary bonus of $27,000 for 2015, representing three-months of pro-rata consideration based on his date of hire.
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e.
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Long-Term Incentives. Mr. Moline is eligible to participate in the Company's Long-Term Incentive Award Program, subject to approval of his discretionary awards by the Compensation and Personnel Committee. For 2015, he was recommended for a total target equity award of $175,000, comprised of 50% in the form of a total shareholder return award (subject to a three-year performance period beginning January 1, 2015 through December 31, 2017), 20% in non-qualified stock options and 30% in restricted stock units. The options and restricted stock units will vest in one third installments on the first, second and third anniversaries of the grant date. In order to offset the additional equity that he forfeited at his then-current employer, he received a special restricted stock unit grant of $200,000. These units will vest 50% after two years from the date of grant and 50% after three years from the date of grant. If his employment with the Company is terminated, either voluntarily or involuntarily, prior to the vesting dates, the unvested portion of this award will be forfeited.
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f.
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Other Benefit Programs. Mr. Moline is eligible to participate in the Company’s benefit plans that are applicable to other employees.
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g.
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Relocation Assistance. Mr. Moline was eligible for relocation to the Colorado Springs area pursuant to Company policy; however, he chose to work in the Company's Reston, Virginia office and did not relocate to Colorado Springs.
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2.
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Termination of Employment. In the event that the Company terminates Mr. Moline’s employment within his first year of employment, for any reason other than for cause and without an offer of comparable employment, Mr. Moline will receive six months of his current salary paid as a severance payment. Following his one-year anniversary with the Company, he will revert to severance eligibility under the Company severance policy that is in effect at that time.
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Exhibit No.
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Description
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10.01
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Moline Letter Agreement dated August 25, 2015 between Vectrus, Inc. and Mr. Moline
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Date: April 3, 2017
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VECTRUS, INC.
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By:
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/s/ Kathryn S. Lamping
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Its:
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Assistant Secretary
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Exhibit No.
|
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Description
|
|
|
|
|
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10.01
|
|
Moline Letter Agreement dated August 25, 2015 between Vectrus, Inc. and Mr. Moline
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