Document:

Offer letter for Kevin P. Clark, dated June 10, 2010

 Exhibit 10.22 
 

 
 June 10, 2010 
 Mr. Kevin P. Clark 
 66 High Ridge Rd. 

Boxford, MA 01921 
 Dear Kevin: 

It is our pleasure to extend you this offer of salaried employment with Delphi as Chief Financial Officer. We anticipate you will start your employment
at Delphi on July 12, 2010. The following provides a summary of your offer as discussed with Mr. Jack Krol, Chairman, Delphi Board of Managers. 
 Base Salary: In view of your current compensation level and competitive considerations, we are pleased to offer you an initial base salary at an annual rate of $800,000. Your base salary will be
reviewed from time to time in accordance with normal Delphi practice applicable to its senior corporate executives. 
 Target
Annual Incentive: Your target annual incentive compensation will be $800,000. What you actually receive will, of course, be subject to the performance of Delphi relative to the performance targets established by Delphi’s Board of Managers,
as well as your individual performance. Your annual incentive compensation for 2010 will be prorated based on your actual start date. 
 Long Term Incentive (Value Creation Award): You will receive a target award of $8,250,000 under the Delphi Value Creation Plan (“VCP”). This award amount is a three-year award of
$5,100,000 (based on $1,700,000 annual value) which has been determined on the same competitive factors used in determining the three-year awards being made at this time to our other senior corporate officers, plus $3,150,000 intended to make-up a
portion of the incentive compensation you will forfeit upon leaving your current employer. As with any long term incentive program, the value of your VCP award will depend on the success of Delphi as a company and the value of Delphi, as well as
other potential factors such as the occurrence of an IPO or other liquidity event for shareholders. Your VCP award will be on the same terms and conditions as the VCP awards made to other senior corporate executives, including requirements for
continued employment and your execution of a noninterference and confidentiality agreement. 
 Signing Bonus/Retention
Incentive: As an inducement to join and remain with Delphi and in recognition of amounts you will forego by joining Delphi, you will receive a signing bonus of $2,500,000, which will be paid in cash within 30 days of your start date. If your
employment with Delphi ends prior to December 31, 2012 for any reason other than death, disability or circumstances for which you are not eligible to receive severance (as described below), you agree to repay to Delphi a prorated portion of
your signing bonus based on the number of months from your date of termination through December 31, 2012 divided by 30 (the number of months from your anticipated start date through December 31, 2012). 

Protective Provisions: You will report to the current CEO of Delphi. If however circumstances cause a change in this reporting
relationship within 12 months of your start date and you determine it is in your best interests to voluntarily terminate your employment, you will be entitled to severance equal to 12 months base salary and one times your target annual incentive
compensation. In the event of your involuntary termination by Delphi without cause, you will be eligible for severance under the executive severance policy then in effect.* Should the terms and conditions of your employment change such that you need
to relocate to the company’s headquarters location following either a change in control of Delphi or any change in your reporting relationship following the 12 month anniversary of your start date and you choose to resign rather than relocate,
such resignation will be treated as an involuntary termination for purposes of the VCP. Any and all fees and expenses you incur enforcing these protective provisions will be paid by Delphi. 

Relocation: Your office will be located at Delphi’s headquarters in Troy, Michigan. As we discussed, you will be eligible to
receive benefits in accordance with our standard relocation program upon advising us of a plan to relocate to the area. In the interim, you will be responsible for all travel and living costs associated with being away from your current residence to
perform your duties at headquarters. You will, of course, be entitled to reimbursement for business travel and other business expenses in accordance with Delphi’s policies. 
 In addition to the compensation elements described above, you are also eligible for our competitive benefit package. A brief summary of current Delphi benefits and eligibility requirements is enclosed for
your review. Currently, our benefit package includes a Salaried Retirement Savings Plan (401(k)), health, life and disability insurance plans, as well as vacation and holiday allowances. Please be advised that Delphi reserves the right to
amend, modify and/or terminate any 
  
  

	*	 Severance under the policy as currently in effect is 1.5 times base salary plus 1.5 times target annual incentive compensation.

 
of its incentive, severance, retirement, insurance or other benefit plans, policies or programs at any time for any reason. As you would expect, all compensation and payments will be subject to
applicable tax withholding. 
 In accordance with Delphi policy and contingent on your acceptance of this offer, a background verification
process will be conducted. You are additionally responsible for completing a pre-employment drug screen. Your employment is contingent upon the results of the background verification and drug screen. Information relating to the completion of these
requirements will be forthcoming separately. 
 Employment is also contingent upon your current and continued eligibility to work in the United
States. An I-9 form listing acceptable identification documents will be forthcoming separately. To comply with government regulations, unexpired identification documents must be presented on your first day of work to verify that you are authorized
to work in the United States. 
 If you should have any questions, please call me at 248 813 2463. Please sign and return one copy
of this offer letter to me to signify your acceptance of this offer and your understanding of its contents. We are sincerely happy to welcome you to the Delphi team and look forward to your arrival in Troy. 

 

					
		 	 Very Truly Yours,

		
		 	DELPHI
			
		 	By:	 	 /s/ Kevin M. Butler

		 		 	Kevin M. Butler
		 		 	Vice President, Human Resource Management and Global Business Services
		
		 	Acknowledged and accepted:
			
		 	By:	 	 /s/ Kevin P. Clark

		 		 	Kevin P. Clark
			
		 	Date:	 	 June 10, 2010

 DELPHI BENEFIT SUMMARY 

 

	 	•	 	 Qualified Retirement Savings Plan - 401(k): As a US salaried employee you will be eligible for Delphi contributions to your 401(k) account equal
to 4% of your base salary and earned annual incentive plan payment. Additionally, Delphi currently provides a matching contribution equal to 50% of your contributions, up to a maximum of 3.5%. For example, if you contribute 7% of your base salary
and annual incentive payment to the plan, Delphi would match this with a 3.5% contribution. Of course, Delphi U.S.’s decision to make any contribution or match is subject to the availability of Delphi U.S.’s earnings and cash to contribute
to this plan, as determined by the Board. 

  

	 	•	 	 Nonqualified Savings Plan: You will also be eligible to participate in the Delphi’s Salaried Retirement Equalization Savings Program
(the “SRESP”), a non-qualified defined contribution plan that operates in a manner similar to a 401(k) plan with respect to compensation above the IRS annual compensation limit. 

 

	 	•	 	 Health Care: You will be eligible for health care services, including dental and vision coverage. The cost to you for the program and the
options available in terms of carriers or plans will be based upon your geographic location. You will be eligible for first day coverage in the plan you elect on a retro-active basis 

 

	 	•	 	 Life Insurance: Delphi will provide you with a term-life insurance policy with a face amount equal to 1.5 times your annual base salary. The
cost for this coverage will be paid by Delphi while you remain employed by Delphi U.S. 

  

	 	•	 	 Holidays: You will be entitled to 9 standard holidays and 2 floating holidays. In 2010, Delphi holidays in the US are:

  

					
	New Years Day	 	Labor Day	 	Christmas Eve Day
	Memorial Day	 	Thanksgiving	 	Christmas Day
	Independence Day	 	Day after Thanksgiving	 	New Years Eve Day

  

	 	•	 	 Vacation Schedule: You will be eligible for 20 vacation days. Vacation days must be used in the calendar year or be forfeited.

  

	 	•	 	 Designated Time Off (DTO) Days: You will be eligible for 5 DTO Days. These days are generally expected to be used for personal appointments,
individual sick days, funerals, etc. and must also be used in the calendar year or be forfeited. 

  

	 	•	 	 Short-and Long-Term Disability: Following a six-month initial eligibility waiting period, you will be eligible to participate in Delphi’s
salaried short- and long-term disability plans. The short-term program generally provides for a total of 26 weeks, with the first week at 100% of base pay and the remaining 25 weeks at 60% of base pay. The long-term program will provide for 40% of
your base pay for any illness or disability that extends beyond the short-term leave. You will be able to purchase long term coverage for up to an additional 20% of base pay. 

Delphi reserves the right to amend, modify and/or terminate any benefit plans, policies or programs.Executive Release of Claims, Separation, Non-Solicitation Agreement

 Exhibit 10.23 
 EXECUTIVE RELEASE OF CLAIMS, SEPARATION, 
 NON-SOLICITATION AND
NON-COMPETE AGREEMENT 
 This Agreement is made as of February 22, 2010 (the “Effective Date”) by and between
Delphi Corporation, its predecessors, subsidiaries, affiliates, divisions and joint ventures (collectively, “Delphi”), and John Sheehan (“Executive”) and hereafter referred to as the “Agreement”. In consideration
of the mutual covenants and undertakings set forth below, Delphi and Executive agree as follows: 
 1. Executive’s
employment with Delphi will be separated effective April 1, 2010 under circumstances making Executive eligible for Severance Pay of one million, six hundred and eighty thousand dollars ($1,680,000), an amount equal to 18
months base pay plus an additional 18 month bonus target payment, less applicable deductions. This payment will be made in 36 installments paid twice monthly over 18 months commencing on April 15, 2010. Executive acknowledges that the
consideration provided for in this Agreement is in excess of anything Executive would otherwise be entitled to receive absent signing this Agreement. 
 2. In consideration for receiving these benefits, Executive releases, remises, and forever discharges Delphi and its officers, shareholders, subsidiaries, affiliates, joint ventures, employee benefit
plans, employee benefit plan sponsors and fiduciaries, agents and employees, predecessors, successors, and assigns from any and all manner of actions, causes of actions, suits, proceedings, damages, costs, and claims whatsoever in law or in equity
(collectively “Claims”), which Executive has or may have based upon or in connection with his or her employment with or separation from Delphi. This release specifically includes all Claims under the Employee Retirement Income Security Act
of 1974, as amended, which regulates employee benefit plans; Title VII of the Civil Rights Act of 1964, as amended, which prohibits discrimination in employment based on race, color, national origin, religion, or sex; the Americans with Disabilities
Act, which prohibits discrimination in employment based on disability; the Age Discrimination in Employment Act, which prohibits discrimination in employment based on age; the Equal Pay Act, which prohibits wage discrimination; state fair employment
practices or civil rights laws; and any other federal, state or local law, order, or regulation or the common law relating to employment or employment discrimination, including those which preclude any form of discrimination based on age. This
includes, without limitation, Claims for breach of contract (either express or implied), slander, libel, defamation, misrepresentation, promissory estoppel, detrimental reliance, and wrongful discharge. This Release of Claims covers Claims Executive
knows about and Claims Executive does not know about; but does not cover Claims that arise after Executive separates from Delphi, or Claims that are not subject to waiver under applicable law. 

3. Confidentiality 
 a. Executive acknowledges and agrees that: (A) Executive held a position of trust and confidence with Delphi and that his or her employment by Delphi required that Executive have access to and
knowledge of valuable and sensitive information, material, and devices relating to Delphi and/or its business, activities, products, services, customers and vendors, including, but not limited to, the following, regardless of the form in which the
same is accessed, maintained or stored: the identity of Delphi’s actual and prospective customers and their representatives; prior, current or future research or development activities of Delphi and/or its customers; the products and services
provided or offered by Delphi to customers or potential customers and the manner in which such services are performed or to be performed; the product and/or service needs of actual or prospective customers; pricing and cost information; information
concerning the development, engineering, design, specifications, acquisition or disposition of products and/or services of Delphi; unique and/or proprietary computer equipment, programs, software and source codes; licensing information; personnel
information; vendor information; marketing plans and techniques; forecasts; and other trade secrets (“Confidential Information”); (B) the direct and indirect disclosure of any such Confidential Information would place Delphi at a
competitive disadvantage and would do damage, monetary or otherwise, to Delphi’s business; and (C) the engaging by Executive in any of the activities prohibited by this Paragraph 3 may constitute misappropriation and/or improper use of
trade secrets in violation of the Michigan Uniform Trade Secrets Act, as well as a violation of this Agreement. 

  
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February 4, 2010 

 b. Executive shall not, directly or indirectly, whether individually, as a director,
stockholder, owner, partner, employee, consultant, principal or agent of any business, or in any other capacity, publish or make known, disclose, furnish, reproduce, make available, or utilize any of the Confidential Information without the prior
expressed written approval of an officer of Delphi, other than in the proper performance of the duties contemplated herein, unless and until such Confidential Information is or shall become general public knowledge through no fault of Executive.

 c. In the event that Executive is required by law to disclose any Confidential Information, Executive agrees to give Delphi
prompt advance written notice thereof and to provide Delphi with reasonable assistance in obtaining an order to protect the Confidential Information from public disclosure. 
 4. Intellectual Property 
 a. Executive hereby assigns to Delphi or its
designees, without further consideration and free and clear of any lien or encumbrance, Executive’s entire right, title and interest (within the United States and all foreign jurisdictions), to any and all inventions, discoveries, improvements,
developments, works of authorship, concepts, ideas, plans, specifications, software, formulas, databases, designees, processes and contributions to Confidential Information created, conceived, developed or reduced to practice by Executive (alone or
with others) during Executive’s employment which (A) are related to Delphi’s current or anticipated business, activities, products, or services, (B) resulted from any work performed by Executive for Delphi, or (iii) were
created, conceived, developed or reduced to practice with the use of Company property, including any and all Intellectual Property Rights (as defined below) therein (“Work Product”). Any Work Product which falls within the definition of
“work made for hire”, as such term is defined in the Copyright Act (17 U.S.C. Section 101), shall be considered a “work made for hire”, the copyright in which vests initially and exclusively in Delphi. Executive waives any
rights to be attributed as the author of any Work Product and any “droit morale” (moral rights) in Work Product. Executive agrees to immediately disclose to Delphi all Work Product. For purposes of this Agreement, “Intellectual
Property” shall mean any patent, copyright, trademark or service mark, trade secret, or any other proprietary rights protection legally available. 
 b. Executive agrees to execute and deliver any instruments or documents, and to do all other things reasonably requested by Delphi in order to more fully vest Delphi with all ownership rights in the Work
Product. If any Work Product is deemed by Delphi to be patentable or otherwise registrable, Executive shall assist Delphi (at Delphi’s expense) in obtaining letters of patent or other applicable registration therein and shall execute all
documents and do all things, including testifying (at Delphi’s expense), necessary or appropriate to apply for, prosecute, obtain, or enforce any Intellectual Property Right relating to any Work Product. Should Delphi be unable to secure
Executive’s signature on any document deemed necessary to accomplish the foregoing, whether due to Executive’s disability or other reason, Executive hereby irrevocably designates and appoints Delphi and each of its duly authorized officers
and agents as Executive’s agent and attorney-in-fact to act for and on Executive’s behalf and stead to take any of the actions required of Executive under the previous sentence, with the same effect as if executed and delivered by
Executive, such appointment being coupled with an interest. 
 5. Non-Competition 

a. Executive acknowledges and agrees that: (A) the Business (as defined below) is intensely competitive and conducted by Delphi
throughout the world; and (B) reasonable limits on Executive’s ability to engage in activities which are competitive with Delphi are warranted in order to, among other things, reasonably protect trade secrets and proprietary information of
Delphi and to maintain and develop Delphi’s reputation, customer relationships, goodwill and overall status in the marketplace. 

  
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February 4, 2010 

 b. For a period of eighteen (18) months following the Effective Date, Executive shall
not engage in Competition (as defined below) with Delphi. 
 c. For purposes of this Agreement, “Competition” by
Executive shall mean Executive’s engaging in, or otherwise directly or indirectly being employed by or acting as a consultant or lender to, or being a director, officer, employee, principal, agent, stockholder, member, owner or partner of, or
permitting Executive’s name to be used in connection with the activities of any other business or organization anywhere in the world which competes, directly or indirectly, with Delphi in the Business; provided, however, it shall not be a
violation of this Paragraph 5 for Executive to become the registered or beneficial owner of up to three percent (3%) of any class of the capital stock of a corporation in Competition with Delphi that is registered under the Securities Exchange
Act of 1934, as amended, provided that Executive does not otherwise participate in the business of such corporation. 
 d. For
purposes of this Agreement, “Business” means the creation, development, manufacture, sale, promotion and distribution of vehicle electronics, transportation components, integrated systems and modules and other electronic technology and any
other business which Delphi engages in, or is preparing to become engaged in, at the time of Executive’s termination. 
 6.
Non-Solicitation; Non-Interference. For a period of twelve (12) months following the Effective Date, Executive agrees that he or she will not, directly or indirectly, for Executive’s benefit or for the benefit of any other person,
firm or entity, do any of the following: 
 a. solicit from any customer doing business with Delphi as of Executive’s
termination or within six (6) months prior to the Effective Date, business of the same or of a similar nature to the Business; 
 b. solicit from any known potential customer of Delphi business of the same or of a similar nature to that which has been the subject of a known written or oral bid, offer or proposal by Delphi, or of
substantial preparation with a view to making such a bid, proposal or offer, within six (6) months prior to the Effective Date; 
 c. solicit the employment or services of, or hire or engage, any person who was known to be employed or engaged by Delphi as of the Effective Date, or within 6 months thereof; or 

d. otherwise interfere with the business or accounts of Delphi, including, but not limited to, with respect to any relationship or
agreement between Delphi and any vendor or supplier. 
 7. Executive agrees that any breach or threatened breach of Paragraphs
3, 4, 5, or 6 of this Agreement would result in irreparable injury and damage to Delphi for which an award of money to Delphi would not be an adequate remedy. Executive therefore also agrees that in the event of said breach or any reasonable threat
of breach, Delphi shall be entitled to seek an immediate injunction and restraining order to prevent such breach and/or threatened breach and/or continued breach by Executive and/or any and all persons and/or entities acting for and/or with
Executive. The terms of this paragraph shall not prevent Delphi from pursuing any other available remedies for any breach or threatened breach hereof, including, but not limited to, remedies available under this Agreement and the recovery of
damages. Executive and Delphi further agree that the provisions of this Agreement are reasonable. Executive agrees to indemnify and hold harmless Delphi from and against all reasonable expenses (including reasonable fees and disbursements of
counsel) which may be incurred by Delphi in connection with, or arising out of, any violation of this Agreement by Executive. 

8. The provisions of Paragraphs 3, 4, 5, and 6 of this Agreement survive the termination of Executive’s employment with Delphi,
regardless of the reason for such termination, for the duration expressly stated in any such provision or, if no duration is stated, then indefinitely. 

  
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February 4, 2010 

 9. For the purposes of this Agreement, notices, demands and all other communications
provided for in this Agreement shall be in writing and shall be deemed to have been duly given when delivered or (unless otherwise specified) mailed by United States certified or registered mail, return receipt requested, postage prepaid, addressed
as follows: If to Executive, at Executive’s most recent address shown in the records of Delphi; and if to Delphi: 

Delphi Corporation 
 5725 Delphi Drive 
 Troy Michigan 48098 

Attention: General Counsel 
 or
to such other address as any party may have furnished to the others in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt. 

10. No provisions of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in
writing signed by Executive and such officer of Delphi as may be specifically designated by its Board of Directors. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or
provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. This Agreement is not intended and shall not be construed to
confer any rights or remedies upon any other person or entity, other than the parties hereto. 
 11. Nothing in this Agreement
shall be construed in a manner that would result in a duplication of benefits to Executive. 
 12. In the event that any one or
more of the provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason, the validity, legality and enforceability of the remainder of the Agreement shall not in any way be affected or impaired thereby.
Moreover, without limiting the generality of the foregoing, if any one or more of the provisions contained in this agreement shall be held to be unreasonable or unenforceable in any respect, including excessively broad as to duration, scope,
activity or subject, such provisions shall be construed by limiting and reducing them so as to be enforceable to the maximum extent allowed by applicable law. 
 13. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Michigan, without regard to its conflicts of law principles, except to the
extent within the jurisdiction of the Bankruptcy Court for the Southern District of New York. The parties hereby irrevocably consent and submit to the jurisdiction of the federal and state courts located within the state of Michigan in any suit,
action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement, except to the extent within the jurisdiction of the Bankruptcy Court for the Southern District of New York.

 14. This Agreement sets forth the entire agreement of the parties hereto in respect of the subject matter contained herein
and supersedes all prior agreements, promises, understandings, covenants, arrangements, communications, representations or warranties, whether oral or written, by any officer, employee or representative of any party hereto; and any prior agreement
of the parties hereto in respect of the subject matter contained herein is hereby terminated and cancelled. Specifically, Executive hereby rescinds and revokes any prior Release of Claims document, or any other document purporting to promise,
provide, or entitle Executive to severance benefits of any kind, that Executive signed during Executive’s employment with Delphi, and acknowledges and agrees that any such documents are null and void in all respects. 

15. Executive understands that, by accepting benefits under the Plan, he or she will no longer be entitled to receive any disability
benefits under the Delphi Life and Disability Benefits Program for Salaried Employees relating to any disability that arose or arises at any time, and if Executive is currently receiving or is eligible to receive disability benefits as of the
effective date of this Release of Claims, Executive understands that such benefits or eligibility for such benefits will cease upon the effective date of this Agreement. 

  
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February 4, 2010 

 16. Executive acknowledges that he or she has been given a minimum of twenty-one
(21) calendar days to review this Release of Claims. Executive understands that he or she may use as much of this twenty-one (21) day period as Executive wishes. Executive has been advised to consult an attorney before signing this
Agreement, but understands that whether or not Executive does so is exclusively his or her decision. 
 17. Executive
understands that he or she may revoke this Agreement within seven (7) days of signing it. To be effective, the revocation must be in writing and must be received by Kevin Butler at Delphi World Headquarters, 5725 Delphi Drive, Troy, Michigan
48098, before the close of business on the seventh (7th) day after Executive signs this Agreement. If Executive revokes this Agreement, no part shall be effective or enforceable and Executive will not receive the consideration provided for
herein. 
 IN WITNESS WHEREOF, the parties have executed this Agreement on the date below. 

 

									
		 		 	DELPHI CORPORATION
				
	     /s/ John D. Sheehan
	 		 	By:	 	 /s/ Debra Alexander

					
	Dated:	 	     February 22,
2010        
	 		 	Title:	 	 Executive Director Global Comp

					
		 		 		 	Dated:	 	 February 22, 2010

  
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February 4, 2010

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