Document:

exv10w23

Exhibit 10.23

PERSONAL AND CONFIDENTIAL

Richard Heyse

Term Sheet

	 	 	 
	Title

	 	Vice President, Chief Financial Officer — Reports to Senior Vice President, Finance
and Administration
	 
	 	 
	Location

	 	Pittsburgh, PA, relocation package
per WESCO policy.
	 
	 	 
	Base Salary

	 	$325,000 annual rate paid twice
monthly.
	 
	 	 
	Annual Cash Bonus

	 	Zero to 100% of base salary, based on the achievement of a combination of corporate
and personal performance objectives as established annually by the Board. Your
target bonus will be 50% of base salary. For 2009 the bonus award will be
guaranteed at a minimum of $75,000, assuming a start date of
June 15, 2009.
	 
	 	 
	One Time Bonus Award

	 	After 15 days of employment, a one time bonus of $50,000. Bonus is subject to a
pro-rata pay back to the Company if employee leaves without good reason or is
terminated for cause within one year.
	 
	 	 
	Equity Awards

	 	Stock appreciation rights (SARs) equal to the number of shares of WESCO stock
purchased for long-term investment within the first twelve months of employment (up
to the equivalent of three times your annual base salary) will be granted with the
approval of the Compensation Committee and the Board of Directors. Strike price
will be set at the closing price on the date of purchase on the open market in one
or more transactions, not to exceed three trading days. Purchase of the shares must
comply with the Company’s policy regarding insider trading. These options will vest
ratably over three years. In the event you are unable to sell your New Jersey home
in the first twelve months of employment with WESCO, the time period for the SARs
match will be extended to the sooner of 30 days after the closing on the sale of the
New Jersey home or twelve months from your one-year anniversary with the Company.

	 
	 	 
	 

	 	
Future awards are based on performance and award guidelines established periodically
by the Compensation Committee of the Board of Directors.

	 
	 

	 	

It is expected that you achieve and maintain an ownership position in WESCO stock
equal to 2x your base salary by 2012.
	 
	 	 
	Severance

	 	In the event of the termination of your employment by WESCO without cause or by you
for good reason, you will be entitled to receive a severance payment equal to one
year’s base salary plus continued coverage in all applicable WESCO welfare benefits
plans for one year, plus a pro rata payment of your estimated bonus, as approved by
WESCO’s Compensation Committee, for the then current year based on results to the
date of termination, plus full vesting for stock appreciation rights with time based
vesting periods granted in accordance with your purchase of WESCO stock. Healthcare
contributions will be at the active employee rate. In the event of the termination
of your employment as a result of death or disability you will be entitled to
receive your base salary and all welfare benefits through the date of death or
disability. No severance will be paid other than payment of your base salary
through the date of termination for termination for cause.
	 
	 	 
	 

	 	Termination For Cause shall mean termination within 30 days after we give you notice
that we have cause to terminate you for:

	 	 	 	 	 
	 

	 	a)
	 	Engaging in a felony or willful misconduct which is in the good faith judgment of
the Board materially injurious to the company, its customers, employees, suppliers
or shareholders;
	 
	 

	 	b)
	 	Willful failure to materially perform your duties that continues after written
notice;
	 
	 

	 	c)
	 	Your material breach of any manual or written policy, code or procedure of the
company; or
	 
	 

	 	d)
	 	Failure to establish permanent residence in the Pittsburgh area.

	 	 	 
	Severance (cont.)

	 	An act or failure to act by you will be deemed “willful” only if done or omitted to
be done by you without a good faith reasonable belief that such act or failure to
act was lawful and in the best interests of the Company.

 

 

	 	 	 
	 

	 	Good reason shall mean any of the following to which you do not consent in writing
and for which you give us 30 days notice and opportunity to cure during such period:

	 	 	 	 	 
	 

	 	a)
	 	Reduction in your Base Salary, excluding any reduction that occurs in connection
with an across the board reduction of the salaries of the senior management team, or
any other material breach of this letter and Term Sheet;
	 
	 

	 	b)
	 	A relocation of your primary place of employment to a location more than 50 miles
from Pittsburgh, Pennsylvania; or
	 
	 

	 	c)
	 	A change in the authority, duties or responsibilities that materially and
adversely affect your role in the organization.

	 	 	 
	Auto Allowance

	 	Comparable to other Senior Executives, currently $1,000 per month
	 
	 	 
	Value Acceleration Plan
(VAP) Awards Program

	 	The Compensation Committee annually determines whether supplemental cash bonus
programs for key management personnel will be established. You will be eligible to
participate at the Vice President level for all such programs. No VAP program is
planned for 2009.
	 
	 	 
	Health, Welfare, and
Other Benefit Programs

	 	Eligible to participate in all corporate benefit programs in accordance with
standard policies and procedures. Eligible for 4 weeks of vacation annually,
prorated for 2009.
	 
	 	 
	Employment Policy

	 	In accordance with Company practices, neither this letter, nor any benefit program
or employment policy is to be considered an employment contract. Your employment
and compensation are at the will of WESCO Distribution, Inc. and can be terminated,
with or without cause and with or without notice, at any time, by either you or the
Company.

	 	 	 	 	 
	 	 	 
	Accepted on May 21, 2009 	/s/ Richard P. Heyse
 	 
	 	Signatureexv10w28

Exhibit 10.28

PERSONAL
& CONFIDENTIAL

Diane Lazzaris

Term Sheet dated January 15, 2010

Page 1 of 2

	 	 	 
	Title & Reporting Level

	 	Vice President, Legal Affairs (Corporate Officer position)
	 
	 	 
	Location

	 	Pittsburgh, PA
	 
	 	 
	Base Salary

	 	$275,000 annual rate paid twice monthly
	 
	 	 
	Annual Cash Bonus

	 	Zero to 100% of base salary, based on the achievement of a combination of
corporate and personal performance objectives as established annually by the
Board of Directors. Your target bonus will be 50% of base salary.
	 
	 	 
	Equity Awards

	 	Stock appreciation rights (SARs) equal to the number of shares purchased for
long-term investment within the first twelve months of employment (up to the
equivalent of two times (2x) your annual base salary) will be granted with the
approval of the Compensation Committee of the Board of Directors. Strike price
will be set at the closing price on the date of purchase on the open market in one
or more transactions, not to exceed three trading days. Purchase of shares must
comply with the Company’s policy regarding insider trading. These options will
vest ratably over three years.

	 
	 	 
	 

	 	
Future awards are based on performance and award guidelines established
periodically by the Compensation Committee of the Board of Directors.

	 
	 	 
	 
	 	

It is expected that you achieve and maintain an ownership position in WESCO
stock equal to 2x your base salary by 2013.
	 
	 	 
	Severance

	 	In the event of the termination of your employment by WESCO without cause, or
by you for good reason, or within one year following a change of control of WESCO
(other than for cause) you will be entitled to receive a severance payment equal to
one year’s base salary plus continued coverage in all applicable WESCO welfare
benefits plans for one year, plus a pro rata payment of your estimated bonus, as
approved by WESCO’s Compensation Committee, for the then current year based
on results to the date of termination, plus vesting for those stock appreciation rights
with time based vesting periods granted in accordance with your purchase of
WESCO stock.

	 
	 

	 	
“Change of Control” shall have the meaning given to such term in WESCO’s Long
Term Incentive Plan. Any and all vested stock appreciation rights will remain
exercisable for a period of 60 days following the date of termination.

	 
	

	 	
The severance benefits will be in lieu of any severance or similar benefits that may
otherwise be payable under any other agreement, plan, program or
policy of WESCO, and the payment of severance benefits will be conditioned on your
execution of a release with terms and provisions as determined by the
Compensation Committee and as are substantially consistent with past practices at
WESCO relating to its chief legal officer.
	 
	 	 
	 

	 	Healthcare contributions will be at the active employee rate. In the event of the
termination of your employment as a result of death or disability you will be entitled
to receive your base salary and all welfare benefits through the date of death or
disability. No severance will be paid other than payment of your base salary
through the date of termination for termination for cause.

 

 

PERSONAL & CONFIDENTIAL

Diane Lazzaris

Term Sheet dated January 15, 2010

Page 2 of 2

	 	 	 
	Severance (cont.)

	 	Termination For Cause shall mean termination within 30 days after we give you
notice that we believe we have cause to terminate you for:
	 
	 	 
	 

	 	a)
Engaging in a felony or engaging in conduct which is in the good
faith judgment of the Board, applying reasonable standards of
personal and professional conduct, injurious to WESCO, its customers,
employees, suppliers, or shareholders;

	 

	 	 
	 

	 	b)
Your inability to meet the expectations of your job responsibilities
or failure to timely and adequately perform your duties;

	 

	 	
	 

	 	c) Material breach of any manual or
written policy, code or procedure of WESCO.

	 
	 	 
	 

	 	If such termination is with Good Reason, you shall give WESCO written notice,
which shall identify with reasonable specificity the grounds for your resignation
and
provide WESCO with thirty (30) days from the day such notice is given to cure the
alleged grounds for resignation contained in the notice. A termination shall not be
for Good Reason if such notice is given by you to WESCO more than sixty (60)
days after the occurrence of the event that you allege is Good Reason for your
termination hereunder. For purposes of this Agreement, “Good Reason” shall
mean any of the following to which you shall not consent in writing:
	 
	 	 
	 

	 	a)
A reduction in your Base Salary, excluding any reduction that occurs
in connection with an across-the-board reduction of the salaries of
substantially the entire senior management team;

	 

	 	          
	 

	 	b) A
relocation of your primary place of employment to a location more
than 50 miles from Pittsburgh, Pennsylvania without your consent;

	 

	 	          
	 

	 	c)
Any material reduction in your offices, titles, authority, duties or
responsibilities without your consent.

	 
	 	 
	 

	 	Termination by you for purposes of accepting employment with another
organization or in another location shall not be considered Good Reason.
	 
	 	 
	Auto Allowance

	 	$1,000 per month
	 
	 	 
	Value Acceleration Plan
(VAP) Awards Program

	 	The Compensation Committee annually determines whether supplemental cash
bonus programs for key management personnel will be established. You will be
eligible to participate at the Vice President level for all such programs. No VAP
program is planned for 2010.
	 
	 	 
	Health, Welfare, and Other
Benefit Programs

	 	Eligible to participate in all corporate benefit programs in accordance with
standard
policies and procedures. Eligible for 4 weeks of vacation annually.
	 
	 	 
	Employment Policy

	 	In accordance with Company practices, neither this letter, nor any benefit program
or employment policy is to be considered an employment contract. Your
employment and compensation are at the will of WESCO Distribution, Inc. and can
be terminated, with or without cause and with or without notice, at any time, by
either you or the Company.
	 
	 	 
	Approval

	 	All terms and conditions as described above are subject to review, modification,
and approval of WESCO’s Compensation Committee or Board of Directors.

	 	 	 	 	 
	 Accepted
on January 16, 2010

	 	/s/ Diane Lazzaris
 

Signature

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