severancepolicy01032022






Issued by: Atkore Policy Steering Committee  Approved: Reviewed and approved 1/3/2022       1              Severance Policy    INTENT AND SCOPE  It is the intent of the Company to provide stable employment opportunities for employees.  Business conditions, individual performance, or other factors may, however, necessitate a  reduction in force or an individual’s termination of employment. Atkore offers severance pay,  benefits continuation, and outplacement services to assist employees with their transition to new  employment.    This Policy applies to all U.S. exempt and non-exempt salaried employees and international  employees to the extent permitted by local law. It excludes all employees covered by a collective  bargaining agreement or an employment contract    POLICY AND PROCEDURES  Severance Schedule  The rate of severance is based upon the Employee’s compensation band and length of service,  as outlined in Table 1 below. Years of service will be measured only from an employee’s most   recent date of hire and will include continuous service with any predecessor company as long as  there was not a qualified break in service.    Table 1: Severance Schedule  Compensation Band  Level  # of Week(s) for each  Full Year of Service   # of Weeks Minimum  # of Weeks Maximum   Bands 1 & 2 2 weeks  26 weeks 52 weeks  Band 3  2 weeks 16 weeks 39 weeks  Band 4 1.5 weeks 12 weeks 26 weeks  Band 5  1 week 8 weeks 26 weeks  Bands 6 & 7 1 week 4 weeks 16 weeks    In cases where there is a reduction-in-force resulting in pay-in-lieu of notification under the Worker  Adjustment Retraining and Notification Act (WARN) or any other law, the eligible severance  payment under this Policy will be reduced proportionately.   POLICY HIGHLIGHTS   This policy applies to situations of involuntary termination due to:   • Reduction in workforce or facility closure  • Change in organization structure requiring relocation  • Position eliminations  • Poor performance despite reasonable efforts by the employee (50% of benefit).  • This policy applies to apply U.S. exempt and non-exempt office workers and  international employees to the extent permitted by local law.   • The amount of severance is based upon compensation band level and years of  service.  • Health care benefit continuation is applicable to eligible Atkore employees.  • Outplacement service is applicable to eligible Atkore employees.  • Receipt of severance pay, and benefits is contingent on signing a legal release and a  non-compete agreement acceptable to the Company.     





 






Issued by: Atkore Policy Steering Committee  Approved: Reviewed and approved 1/3/2022       2      Eligibility  Determination of eligibility for severance pay is at the sole and exclusive discretion of the  Company. Regular, full-time salaried exempt and non-exempt employees with at least 6 months  continuous service are typically eligible for severance pay when they are involuntarily separated  for one of the following reasons:     • Lack of work or reduction in the workforce;   • Facility closure or sale, unless the Employee is offered a reasonably comparable position  and compensation and benefits by the Company or by the successor company.  Reasonableness is determined solely and exclusively by the Company;   • The Employee’s worksite relocates more than 50 miles, and the Employee is not offered  relocation;   • The Employee refuses relocation to a job which is more than 50 miles from the Employee’s  current worksite; and   • Any other reason determined by the Company to warrant severance.     Additionally, if an employee is terminated for inability to perform his or her duties despite  reasonable efforts by the Employee, he/she will be eligible for severance at 50% of the weekly  schedule in Table 1 above.     Severance pay is not provided to any employee who voluntarily terminates, is temporarily laid-off,  or who is terminated for cause. “For cause” includes but is not limited to; dishonesty,  insubordination, misconduct, or violation of a Company policy.    Severance Pay  A valid and enforceable legal release, in a form acceptable to the Company, must be in effect  prior to severance pay and benefits being paid. Severance will be paid in a lump sum after the  revocation period, which follows the signing of the release of claims has expired. The lump-sum  payment is subject to normal payroll taxes and withholdings.     Health Benefit Continuation  The Company will pay the employer portion of the cost of the medical, prescription drug, and  dental coverage provided the Employee properly elects COBRA continuation coverage and  continues to pay the applicable employee contribution. The Company paid health, and welfare  benefits will be provided for a period equal to the applicable severance period outlined in Table 1  above or until Employee is eligible for alternative coverage, whichever occurs first.     Earned Compensation & Benefits  Any wages, salary, or commissions and vacation earned as of the date of termination will be paid  as soon as practical after termination or consistent with applicable State law, whichever is sooner.     Outplacement Services   Outplacement services will typically be made available to eligible separated employees. The  purpose of outplacement is to assist separated employees with securing future employment.  Outplacement services include guidance with resume preparation, interviewing skill training, and  networking techniques. The vendor and the services provided will be determined by the Company.  Cash will not be provided in lieu of outplacement services.         





 






Issued by: Atkore Policy Steering Committee  Approved: Reviewed and approved 1/3/2022       3      Exceptions   Exceptions to this Policy must be approved in writing by the Vice President, Global Human  Resources prior to any communication of benefit to the affected Employee (s).     Applicable Laws  If State or National laws are more generous than this Policy or require different administration,  the law will take precedent over this Policy.     Amendment and Termination   The statements contained in this Policy are not intended to create nor are they to be construed to  constitute a contract of employment between the Company and any employee. The Company  reserves the right to modify, suspend or terminate this Policy or the benefits provided at any time  without prior notice.    REPORTING AND REMEDIATION   Atkore supports open communication and encourages employees and other interested parties to  make a good faith report of any violation of this or any Company policy, regulation or applicable  law. Employees may report potential violations or concerns to their manager, their Human  Resources business partner or the Legal Department. Reports may also be made anonymously  through the Atkore EthicsPoint:     Via Web: https://atkore.ethicspoint.com  Via Phone: 1-888-503-5397    All reports will be promptly and impartially investigated, and we will seek an appropriate remedy  wherever violations of this policy occur.     At Atkore, we strive to promote a work environment of in line with our Core Values. Our employees  hold themselves and one another accountable for operating with respect and integrity. Retaliation  of any kind is inconsistent with those values and will not be tolerated. Any employee who  subjects another employee to such retaliation will be subject to disciplinary action, up to  and including termination of employment.