Company: SXT
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001140361-25-008248
Chunk: 61

Company: SENSIENT TECHNOLOGIES CORP
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 61
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 2024 Executive Compensation and Benefits Programs - Compensation for Mr. Paul Manning.” This employment agreement may be terminated with or without cause, by the Company or by Mr. Paul Manning, subject to the rights and obligations contained therein. In 2024, Mr. Paul Manning received an annual base salary of $1,080,000, and, pursuant to the terms of the employment agreement, such salary is reviewed annually by the Compensation Committee based on Mr. Paul Manning’s performance and the Company’s compensation policies. In addition, Mr. Paul Manning is eligible for an annual incentive bonus, payable in cash and/or equity, based on criteria determined by the Compensation Committee and receives benefits consistent with those received by other executive officers of the Company. For purposes of the agreement, “cause” means conviction of an act of fraud, theft, or embezzlement or of other acts of dishonesty, gross misconduct, willful disclosure of trade secrets, gross dereliction of duty, or other grave misconduct that is substantially injurious to Sensient. “Good Reason” for Mr. Paul Manning to resign would exist if Sensient reduced his base salary, assigned him inconsistent duties, reduced his powers or functions, transferred him outside of Milwaukee, or otherwise materially breached the agreement. The Company does not have employment contracts with its other executive officers (it does have contracts effective upon a change of control, as described above and below). The following table describes the potential payments to Mr. Paul Manning upon a hypothetical termination without cause or by Mr. Paul Manning for “Good Reason” on December 31, 2024. The actual amounts that may be paid upon such a termination can only be determined if it actually occurs.

| Termination Benefits        
 (3x base salary & bonus)(1) |     |     Health and Other 
        Benefit Plans 
 (3x annual benefits) |     |                SERP 
 (3 years’ service & 
         age credit) |     |       Total |
| $9,480,000                  |     |             $498,772 |     |         $11,815,439 |     | $21,794,211 |

| (1) | The severance amount is calculated as three times the sum of the executive’s base salary plus the highest annual bonus for the last five years or since reaching age 50, whichever is greater. |

Change of Control Agreements. In the event of a change of control of the Company, Mr. Paul Manning’s employment contract would be superseded by a Change