exhibit101-offerletter.htm - Generated by SEC Publisher for SEC Filing



	
   

  	
  

  




 


 


April
18, 2016


 


David
Jukes


 


 


Dear
David:


 


I am very pleased to offer you the new responsibilities
of Executive Vice President and President Univar USA and LATAM reporting to me.
   We currently anticipate that you would remain an employee of Univar UK Ltd,
with a secondment to Univar USA Inc., but these details are still being
reviewed.  The position would be based in our Downers Grove, IL facility.   You
scheduled start date is June 1, 2016 with a remote transition starting
immediately.  The major details of our offer are as follows – all items in this
letter are provided in US dollars, an expatriate balance sheet will be provided
shortly to align this package to Great Britain Pounds:


 


·        
Base salary of $550,000 per year (which will be
converted to GBP using a 12 month FX calculated annually on May 1).


 


·        
Participation in the Univar Management Incentive Plan
with an 80% of salary bonus target ($440,000).  The plan permits the opportunity
to earn up to 160% (2 times target) of salary for exceptional performance.  Your
bonus under this plan will be pro-rated between EMEA and Univar Inc results. The
MIP targets and design are subject to annual review and approval of the
Compensation Committee of the Board of Directors.  Details on your incentive
will be outlined annually in a MIP target opportunity letter and are subject to
the terms and conditions in the MIP plan document. 


 


·        
You will be eligible for annual equity grants under the terms
of the 2015 Omnibus Equity Incentive Plan.  The target award is 135% of base
pay.  The LTIP design and actual award amounts are subject to the annual review
and approval of the Compensation Committee of the Board of Directors.  Details
of the Equity awards are outlined in the Plan document and the associated
Equity Award agreements and are subject to the terms and conditions in those
documents. 


 


·        
We will provide you with an employment contract or an
incremental benefit contract that provides for one year of base pay plus target
incentive should you be terminated by the Company for reasons other than cause
or total disability.  Any garden leave benefits outlined in your previous
contract will be offset by the benefits above.   Again, we are sorting through
the terms of this agreement based on the likely secondment arrangement
mentioned above.


 


·        
We will provide the following benefits associated with
your relocation and stay in the USA


 


o   Housing
allowance of up to $4,000 per month for a period of up to 24 months or the
length of your US assignment, whichever is lesser.


o   Use
of a company leased car


o   Quarterly
business class trips for personal reasons to the UK.


o   Relocation
of goods via air shipment


o   A
miscellaneous relocation allowance of $10,000.


o   Tax
equalization, counseling and preparation benefits for the length of your
assignment


 


·        
Health Coverage through the US policy






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We
are currently completing appropriate legal documents including employment
agreement and secondment agreement.  Full detail will be provided early next
week.


 


David,
we are confident that your leadership and extensive distribution knowledge will
drive growth while helping us build a strong culture to support us well into
the future. 


 


Best
regards,


 


 


 


 


Erik
Fyrwald


President
& Chief Executive Officer


 


To
indicate your acceptance of this offer, please return the signed offer letter
and agreement to: Dianna Sparacino at Dianna.sparacino@univarusa.com 


 


 


ACCEPTED:                                                               DATE:


 


 


            /s/ David Jukes                                                           19.4.16                                    


 


 








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