ex101haroldbevisofferlet






                                                                       Exhibit 10.1      March 23, 2020      Harold Bevis   Commercial Vehicle Group, Inc.   7800 Walton Parkway   New Albany, OH 43054      Dear Harold,      On behalf of the Board of Directors (the “Board”) of Commercial Vehicle Group, Inc. (the “Company”), I am pleased to   inform you that the independent directors of the Board unanimously appointed you President and Chief Executive   Officer of the Company effective March 23, 2020. You will continue to be a member of the Board.       In connection with your appointment as President and Chief Executive Officer, the compensation committee of the  Board approved compensation for you, which will consist of a base salary of $500,000, subject to annual review and  adjustment, and an annual bonus under the Company’s annual bonus plan as may be in effect from time to time, with  a target equal to 100% of base salary, prorated for 2020 based on hire date, and with a guaranteed minimum payout  of $375,000 for the 2020 plan year only.     The Company will pay or reimburse all documented, reasonable and customary expenses related to your relocation  to Central Ohio.  Relocation benefits include home marketing assistance, temporary housing, costs associated with  the sale and/or purchase of a home, and relocation of household goods including expenses incurred in transit.     All eligible expenses must be incurred and submitted within 12 months of your hire date in order to be eligible for  relocation benefits.  All relocation expenses paid or reimbursed by the Company are recoverable if you resign or are  terminated for cause within 24 months of your final relocation payment.  The amount recoverable will be equal to  1/24th of the reimbursement for each full month left in the repayment period at the time of separation.    You will be eligible to receive equity and other long term incentive awards under any applicable plan adopted by the  Company during your employment term for which similarly situated employees are generally eligible.  The level of   participation in any such plan shall be determined at the sole discretion of the compensation committee of the Board  from time to time.      Awards under the plan may be issued in restricted stock, performance shares and/or restricted cash awards under  terms and conditions that are no less favorable than those awards granted to similarly situated officers of the  Company.     For the 2020 Plan year, your long term incentive plan target is set at $1,800,000, on terms to be determined by the  compensation committee of the Board, distributed as follows:     •  25%, or $450,000, will be issued in the form of time vested RSUs;       •  25%, or $450,000, will be issued in the form of performance shares tied to relative performance of TSR as         compared to the established peer group.  The performance shares will be settled in CVGI stock, with a         payout that may range from 0% to 200% based on performance;                    7800 Walton Parkway  New Albany, OH  43054  614.289.5360 





 






         •  25%, or $450,000, will be issued in the form of restricted cash tied to relative performance of TSR as         compared to the established peer group.  Payouts may range from 0 – 200% based on performance; and      •  25%, or $450,000, will be in the form of a strategic two year discretionary cash award tied to the completion         of agreed upon goals and objectives.  The payout may range from 0% to 300% based on performance.           The terms of your employment will be set forth in an employment agreement between you and the Company.      Sincerely,      /s/ Robert C. Griffin      Robert C. Griffin  Chairman of the Board of Directors   Commercial Vehicle Group, Inc.                    7800 Walton Parkway  New Albany, OH  43054  614.289.5360